SportsHandle: the week that was in US sports betting

SportsHandle and friends deliver another round-up of the week’s big developments in US sports betting
Image: Shuttestock

SportsHandle and friends deliver another round-up of the week’s big developments in US sports betting.

Sorry, Not Every Losing Bet Is A Bad Beat

I’m not sure when the statute of limitations expires on making New Year’s resolutions, but it’s safe to say the first week of January falls within the acceptable window. So, here, dear sports bettor, is a resolution you should consider adding to your 2023 list. Please write this on the chalkboard 50 times:

I will not call every last freaking wager that loses a “bad beat.”

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Media Notebook: Damar Hamlin Emergency Raises Questions About Engagement

We’ve gotten a sobering reminder this week of how out of whack our view of athletes sometimes is.

And, yeah, sports betting and fantasy sports have something to do with what often feels like the commodification of human beings into data-generating engines for our own amusement.

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Ask A Bookmaker With Jay Kornegay: The Bills-Bengals Aftermath

The executive vice president of race and sportsbook operations at the Westgate SuperBook, Jay Kornegay has been in the sports betting industry for more than 30 years. After getting his start in Lake Tahoe, Kornegay took his talents to Las Vegas, where he opened the Imperial Palace sportsbook in 1989 before taking the reins of the 30,000-square-foot SuperBook in 2004. A Colorado State University alum whose putting stroke tends to betray him on the back nine, Kornegay has helped navigate the SuperBook’s expansion into multiple states since PASPA was overturned in 2018.

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Prophet Becomes First U.S. Betting Exchange To Appoint External Auditor

Last August, Prophet Exchange made history when it launched the nation’s first peer-to-peer sports betting exchange in New Jersey.

After spending the last several months building out the exchange wagering concept, Prophet has named SharpRank as the company’s official independent evaluator. The partnership marks the first time a U.S. sports betting exchange has appointed an external auditor.

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PA Gaming Industry Looks This Year To Grow Beyond $5.2 Billion Revenue

Pennsylvania’s commercial gaming industry drew revenue approaching a record $5.2 billion in 2022, and now the question is what lies ahead in 2023.

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Ohio Welcomes Nation’s Biggest Sports Betting Launch Day

Seconds after Ohio State’s field goal attempt went wide to secure a win Saturday night for Georgia in their College Football Playoff semifinal, first bets were placed at sportsbooks across Ohio — from Pete Rose’s bet on his Reds to win the World Series, to Bernie Kosar putting $19,000 (in honor of his No. 19 jersey) on the Browns moneyline against the Steelers for Week 18, to a Special Olympics exec betting $68 on the Cavaliers to win the NBA Championship this season.

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Ohio Commission Plans To Fine BetMGM, Caesars, And DraftKings

The Ohio Casino Control Commission sent three sports wagering operators — BetMGMCaesars Sportsbook, and DraftKings — notices of violations carrying potential $150,000 fines for each, it announced Thursday.

Each of the sports betting operators has the right to a hearing with the OCCC concerning its concerns that their marketing efforts have failed to give sufficient attention to responsible gambling concerns. 

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Three States Legalized Sports Betting In 2022, While Several Others Tried But Failed

Kansas, Maine, and Massachusetts joined the ranks of legalized U.S. sports betting jurisdictions in 2022, one of the least prolific years for legalization since the Professional and Amateur Sports Protection Act was overturned in 2018. That year, with only seven months to legalize from the day wagering became a states’ rights issue until the end of the year, three states legalized. In between 2018 and 2022, 23 U.S. jurisdictions took the plunge.

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