Sports Betting News

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.

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.