Discussions have begun about raising the tax rate on sports betting operators in Maryland as the state looks for a solution to its $2.7 billion deficit. Tax revenue from the industry goes towards the state’s education system, which is also driving the deficit.
Sports betting Amendment 2 is currently undergoing a recount after narrowly passing in Missouri earlier this month, but early reports are the proposal is safe. That state will need to launch a sports betting market by December 1, 2025.
The Colorado Department of Revenue reported a massive $601 million handle for the month of October, though overall revenue dropped by over 16% compared to September. The success was primarily driven by the NFL and NBA, which accounted for over half of all wagers.
A report by the New York State Gaming Commission showed that sports betting revenue surpassed $52 million for the fourth straight week as of November 17. The record came despite the handle dipping below $500 million for the first time since early October.
GeoComply has reported that over 42,000 GPS checks came from the state of Georgia on Sunday alone, despite the industry remaining illegal. That number is over 100% higher than last year, with over 7,800 accounts trying to place wagers.
Legendz launched its social sportsbook in 43 states on Monday, returning to the country after being banned for running one of the country’s largest illegal platforms. The new platform's lack of real-money wagers allows it to work outside of US sports betting regulations.
The Massachusetts Gaming Commission (MGC) held a seven-hour hearing with DraftKings officials over accepting wagers coming from credit card deposits. The operator claims those deposits were made in other states, meaning they did not violate Massachusetts law.
A report from AxiosDC shows that Washington, D.C.’s Attorney General Brian Schwalb has opened an investigation into Intralot, the sportsbook’s operator. The DC Lottery awarded the failed operator sole control of the online sports betting market without a bidding process.
New Jersey Assemblyman Sterley Stanley has introduced a bill banning college player prop betting in response to a request from NCAA President Charlie Baker. If passed, it would make New Jersey the fourteenth state to ban the controversial bet type.
Louisiana Rep. Wilder has requested his recently proposed sports betting bill be deferred two days after its introduction. The bill called for the tax rate on operators to be raised from 15% to 51%, leading to an outcry from the industry.
An Ohio legislator introduced sports betting bill SB190 to the Senate Finance Committee. The bill proposes cutting the operator rax rate back down to 10%. The bill’s goal is to help grow the market, which some believe is being hurt by its 20% rate.
A spokesperson from FanDuel Sportsbook shared that the industry-leading operator has reached a deal with the union over using player likenesses. The new licensing agreement ends a lawsuit filed by the union against FanDuel last month.
North Carolina reported a sports betting handle of $612 million for October, over $60 million more than in September. The numbers show that the market’s ceiling is still unknown, leading to legislatures considering changes to how gambling winnings are taxed.
A new sports betting bill proposed in the Louisiana House of Representatives would increase operators' tax rate to 51% while eliminating promotional betting. The bill is expected to bring fierce opposition from the state’s sportsbooks, threatening to throw the market into chaos.
The New York State Gaming Commission reported a record-high $2.3 billion sports betting handle for October, breaking the $2.1 million record from November 2023. The numbers were boosted by the Yankees' and Mets' deep playoff runs.
The Running Aces Casino has sent a letter to the Minnesota Indian Gaming Association supporting a deal to legalize sports betting in the Land of 10,000 Lakes. The group had opposed previous bills but appear to be ready to make a deal.
Colorado residents voted in favor of Amendment JJ in Tuesday’s election, eliminating a $29 million cap on sports betting tax revenue that the state can keep. The extra funds will be used to support the state’s water projects.
Missouri voters passed Amendment 2 during Tuesday’s election by a margin of 0.2%, legalizing sports betting. All tax revenue generated from the industry will be used to support the state’s education system and problem gambling funds.
Penn has announced that ESPN Bet users can now link their sportsbook accounts with ESPN accounts. This will give users a customized betting experience when using the sportsbook, making tracking games and finding promos for their favorite teams easier.
The Illinois Gaming Board has eliminated several bets from its NFL catalog after a request from the league in hopes of protecting the integrity of the game. An array of bets have been removed, most of which could be influenced by one person.
The mayors of St. Louis and Kansas City have both shared their support for Amendment 2, which would legalize sports betting in Missouri if approved by voters. Their support comes just days before residents head to the polls on Tuesday.
Colorado has asked a federal court to dismiss a lawsuit filed by the Southern Ute Indian Tribe. The suit claims that the state cut local tribes from the lucrative online sports betting industry. However, the state asserts that it is immune from prosecution and that the case should be dropped.
The Arizona Department of Gaming has reported a handle of over $496 million in August, generating over $2.2 million in tax revenue for the state’s General Fund. This number represents an increase of 38.4% annually and a 21% increase compared to July.
The St. Louis Democratic Central Committee has opposed Amendment 2, which would legalize sports betting in Missouri if passed. The group cited concerns over operators' ability to deduct gambling revenue as the primary reason to oppose the current proposal.
Colorado residents will vote on Proposition JJ in November’s election, which would eliminate the state’s $29 million cap on sports betting tax revenue. Sportsbooks have decided to stay out of the debate, seeing the change as an alternative to a significant tax hike.
In a recent interview, Dallas Cowboy’s co-owner Charlotte Jones shared that she will be making a hard push to help legalize sports betting in Texas in 2025. While no details have been shared, her wealth and influence give industry proponents a critical ally.
Sporttrade has officially launched its sportsbook platform in Arizona. The operator gained access to the market after partnering with the Quechan Tribe, allowing it to launch the platform. The launch gives Arizona a total of 13 sportsbooks, with more likely on the way.
The Indian Gaming Association has said it is beginning a push to reign in the unregulated sweepstakes and DFS industries. The group has complained about the lack of action from the state and federal action and is now taking matters into its own hands.
The NBA has updated a 2009 policy that will now ban cell phone use for coaches and players during games, lasting from tip-off until the final whistle. The hope is that this will prevent future betting scandals and protect the league's integrity.
Hard Rock Bet has reached a new agreement with Kambi to use their library of odds, allowing the sportsbook to expand its betting catalog across the US. The deal is the first of its kind, giving Hard Rock an edge over its competitors.
The Maryland Lottery and Gaming Control Agency has reported a handle of over $532 million for September. That set a new record for the state and led to the tax revenue being almost three times as much compared to September 2023.
September revenue numbers show that the US has now seen over $400 billion in sports betting wagers since PASPA was overturned by the US Supreme Court in 2018. New Jersey has the highest handle, though New York has quickly closed the gap.
Hard Rock has confirmed that it has begun talks with FanDuel and DraftKings about entering the Florida market, over which the operator currently has sole control. A partnership would involve the industry leaders paying Hard Rock a monthly percentage.
