April 12, 2022

Ontario Sports Betting: Launch of Province’s New iGaming Market Prompts Partnership Spree

Filed under: News,Sports betting — Tags: , , — News @ 8:20 pm

The article originally appeared in Covers.

A round of partnership announcements was expected, as Ontario’s regulatory framework now allows for a variety of online sportsbooks to legally compete for business in the province.

The launch of Ontario’s new internet gambling market last week has sparked a steady drumbeat of partnership announcements by online bookmakers and professional sports organizations trying to cash in on opportunities provided by Canada’s most populous province.

PointsBet Canada and Maple Leaf Sports & Entertainment (MLSE) unveiled another such tie-up on Monday morning, which will make PointsBet an official sports betting partner of the MLSE-owned Toronto Maple Leafs, Raptors, Argos, and F.C. 

The Ontario sports betting deal followed PokerStars and FanDuel Sportsbook announcing on Friday their own partnership with MLSE. The collaboration means fans will start seeing advertising for the Flutter Entertainment PLC-owned gambling sites on the boards and the court during Leafs and Raptors games. 

Meanwhile, Coolbet announced a multi-year partnership last Thursday with “Canada’s Fastest Man,” Andre De Grasse. The Olympic sprinter will help the bookmaker promote itself now that it is newly licensed to take bets in Ontario, which launched its competitive iGaming market on April 4.

A 10-year partnership between the Toronto Blue Jays and theScore Bet was announced on Thursday as well, the first such collaboration for the two sides. In addition to the various marketing opportunities offered by the deal, the team and the sportsbook operator intend to open a year-round sports bar and restaurant at Rogers Centre, the Jays’ home field. 

“The fan experience is evolving and this monumental partnership with theScore Bet offers compelling new ways for sports enthusiasts to be a part of the game,” said Mark Shapiro, president and CEO of the Blue Jays, in a press release.

A round of partnership announcements was expected, as Ontario’s regulatory framework now allows for a variety of online sportsbooks to legally compete for business in the province. Similar deals have been announced south of the Canadian border, where 30 U.S. states and the District of Columbia now have legal sports betting. 

Both operators and sports organizations see benefits to the deals: teams and leagues gain sponsorship dollars and the attention of bettors, while bookmakers gain advertising opportunities and another avenue for customer acquisition. 

The partnerships are starting to mirror the cross-border nature of North American professional sports as well. Last week, FanDuel and BetMGM were announced as the National Hockey League’s “first-ever North American sports betting partners,” as the NHL already had similar arrangements with the sportsbook operators in the United States. 

“Canada’s new sports betting landscape presents a tremendous opportunity to further fan engagement and continue our progressive approach with the sports gaming industry,” said Keith Wachtel, the NHL’s chief business officer, in a release last week. “BetMGM and FanDuel were our first sports betting partners in the U.S., and we’re thrilled to expand our partnerships with both of these leaders in the sportsbook and mobile betting marketplace as we begin our transformative entry into this space in Canada and engage our avid Canadian fan base.”

In the same release, BetMGM CEO Adam Greenblatt said their existing partnership with the NHL “accelerated our ability to reach hockey fans and has allowed us to deliver an enhanced hockey wagering product.”

“Expanding our partnership with the NHL throughout North America, aligned with our recent launch in Ontario, puts us in a great position for long-term success in Canada,” Greenblatt added.

‘A very competitive environment’

The partnership announcements are coming in the early days of Ontario’s new iGaming market, which is the first of its kind in Canada. Some companies may be introducing themselves to Ontarians for the first time, and the endorsement of teams and leagues could help with the efforts. 

There are media partnerships, too. BetRivers-owner Rush Street Interactive Inc. announced last week an expanded collaboration with Canadian broadcaster Dan O’Toole, while FanDuel is now an official sportsbook partner of network TSN. 

But there is another angle to Ontario’s iGaming market different from other jurisdictions. 

Until the April 4 launch of the new framework, the government-owned Ontario Lottery and Gaming Corp. was technically the only legal provider of online gambling in the province. However, Ontarians were estimated to be spending hundreds of millions of dollars a year on sites in the so-called “grey market,” wherein operators were taking bets from within the province despite being operated and regulated abroad. 

The grey-market activity could make it harder for brand-new sportsbooks in the province as they try to carve out market share for themselves. As of Monday morning, 13 different online sportsbooks had launched in Ontario’s new iGaming framework, which arrive in addition to OLG’s PROLINE+. 

“We are only four days in, but for sure that will be a very competitive environment we’ll see in Ontario,” said Jette Nygaard-Andersen, CEO of BetMGM-part-owner Entain PLC, during an April 7 conference call for analysts and investors.

Inking partnership deals with big names may not be enough to ensure a bookmaker’s success in Ontario, either. 

An online survey of more than 1,000 adults conducted last year by consulting firm Deloitte Canada found just 9.4% of respondents would pick a sportsbook based on the endorsement of current or former professional athletes. 

“These findings suggest we should be prepared to witness some churn as Ontario’s sports-betting market becomes the first in Canada to embrace a competitive marketplace,” a report from Deloitte noted. 

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March 10, 2022

College Basketball Odds: How Professionals are Betting the Big Ten Tournament

Filed under: News,Sports betting — Tags: , , — News @ 5:26 pm

The article originally appeared in Fox Sports.

Professional bettors have varying approaches to the madness when it comes to wagering on conference basketball tournaments.

I know some pros that’ll make a few bets here and there while others go hog wild and aim to pick off the best underdogs. Some people put way too much stock in rankings and seeds when a pro could really care less. If anything, they’ll take the extra couple of points against the top teams.

“Unders” and “Underdogs” usually shine brightest for the wise guys.

“We bet the ‘Under’ in every single Missouri Valley tournament game this year,” one professional told FOX Sports. “We’ve been doing it for years. Seven of the nine games stayed ‘Under’ the total. But that’s a rarity these days. It’s very, very tough to blindly blanket anything because the books catch up so quickly. That hasn’t been the case in the Valley, though.”

When it comes to this year’s Big Ten tournament, one team leaps off the page for a gentleman that wants a significant return on his investment.

“I have some good action on Michigan (+1100 at FOX Bet) to cut down the nets,” the bettor said. “That’s a team that has so much potential and talent, and assuming they get by Indiana on Thursday as a two-point favorite, they can give Illinois a game. Hunter Dickinson is a solid post-up player, and that’s the type of guy that can get Kofi Coburn in foul trouble.”

The bet basically pays for itself if the Wolverines can pull off the upset against Illinois. They would be one game away from the title game, and at that point, Michigan would likely be just a four-point pup against either Rutgers or Iowa.

“That’s exactly what I’m getting at,” the bettor said. “Win two games, and then you can hedge out the rest of the way. It’s essentially [an 11-to-1 bet] to get by Illinois, and then you’re freerolling.

“If Michigan reaches the semifinals, you can’t lose.”


ODDS TO WIN BIG TEN TOURNAMENT (via FOX Bet)*

Purdue +220 (bet $10 to win $32)
Illinois +350 (bet $10 to win $45)
Iowa +400 (bet $10 to win $50)
Wisconsin +700 (bet $10 to win $80)
Ohio State +900 (bet $10 to win $100)
Michigan +1100 (bet $10 to win $120)
Michigan State +2500 (bet $10 to win $260)
Indiana +2500 (bet $10 to win $260)
Northwestern +10000 (bet $10 to win $1,010)
Maryland +10000 (bet $10 to win $1,010)
Penn State +20000 (bet $10 to win $2,010)
Nebraska +30000 (bet $10 to win $3,010)
Minnesota +50000 (bet $10 to win $5,010)
Rutgers N/A

*Odds as of 3/9/2022


The Big Ten has such an interestingly structured tournament schedule, where the top-four teams all receive double byes. That’s great for Illinois, Wisconsin, Purdue and Rutgers because it allows them to conserve energy for Friday, Saturday and Sunday.

However, we’ve seen some of the top seeds sleepwalk through a Friday game against an opponent playing for its season with momentum from the day before. Odds are good one of the top four teams will fall in the quarters.

That’s because rust can be worse than rest in the right situation.

“There are some good basketball teams down the sheet in the Big Ten,” the bettor explained. “Ohio State (+900 at FOX Bet) is a six seed, which is insane when you think about it. The Buckeyes are a top-30 team in the nation with a very good offense, and they could easily get by Purdue and Wisconsin.

“Iowa (+400 at FOX Bet) has the third-best odds to win the tournament, but the Hawkeyes are the five seed. The five! Ken Pomeroy has them as the 14th-best team in the country. The only teams with shorter odds are Purdue and Illinois, and it’s more proof that seeds don’t matter.

“Find a team with the right price and the right path.” 

Sam Panayotovich is a sports betting analyst for FOX Sports and NESN. He previously worked for WGN Radio, NBC Sports and VSiN. He’ll probably pick against your favorite team. Follow him on Twitter @spshoot.

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February 13, 2022

Four in 10 Sports Bettors to Place Wager on the Super Bowl

Filed under: News,Sports betting — Tags: , , — News @ 8:51 pm

The article originally appeared in Gambling Insider.

According to a survey completed by the Responsible Gambling Council (RGC) in Canada, over four in 10 (42%) sports bettors in Ontario intend to place wagers on the Super Bowl.

It also identified that 38% of the people involved believe their sports knowledge gives them an edge when predicting outcomes. Those believing they have an advantage are predominantly aged 18 to 34 (48%), male (46%) and Toronto-based (48%). This group also bets more frequently (is this a bad idea, then?).

The survey found that younger people are significantly more likely to be influenced by friends and family when betting. In total, 72% of those aged between 18 and 34 said their choice of sports wagers have been influenced by others, in comparison to 59% of those aged 35 to 54 and 40% of those over 55 years of age. 

Within the survey, people were asked how they would bet. The majority of 47% said they will bet with friends, with a close second coming from those who will buy a sport-based lottery ticket. In terms of the value of each bet, 52% suggested they would bet no more than $50, while 17% said it would be at least $100. 

Encouragingly, the survey found that 90% of bettors plan to ensure at least one strategy to manage their gambling risk. This could be staying within a pre-set betting limit as agreed by 52%, while four in 10 said they would always view sports betting as entertainment and not a way to win money. 

Shelley White, CEO, Responsible Gambling Council, commented: “The fact that such a strong majority of sports bettors have a plan in place to protect themselves is great news. However, the risks should never be underestimated. It’s easy to get carried away by the excitement of the big game… Knowing the risks and having a plan to protect yourself are essential to having fun and enjoying the game.”

This online survey of 1,003 Ontario residents aged 18 and over was completed between 7 and 9 January using Leger’s online panel.

Continue Reading at gamblinginsider.com

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January 19, 2022

Number of People Betting on Sports Doubled in 2021, Poll Finds, as New York Reports an Explosive Debut

Filed under: News,Sports betting — Tags: , , — News @ 9:00 am

This article originally appeared in Forbes.

Topline – The number of American adults regularly gambling on sports rose from 5% to 12% between January and December 2021, according to a Morning Consult poll released Tuesday, the same day eye-popping data from the launch of online wagering in New York rolled out.

KEY FACTS

BIG NUMBER

18. That’s how many states currently allow mobile sports betting following New York’s launch earlier this month.

TANGENT

BetMGM, one of the largest players in the U.S. gambling market, upgraded its 2022 revenue forecast from $1 billion to $1.3 billion Wednesday.

Continue Reading at forbes.com

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January 7, 2022

Wanna bet? Explaining where all 50 states stand on legalizing sports gambling

Filed under: News,Sports betting — Tags: , , , — News @ 9:00 am

This article originally appeared in CBS Sports.

It has been over three years since the United States Supreme Court delivered a landmark decision to strike down the federal ban on sports gambling that prohibited betting on sports in most states. Since that ruling, which left the legality of sports gambling up to state-level government, many states have legalized sports betting or are in the process of doing it. 

Prior to the Supreme Court ruling, Nevada was the only state in which a bettor could wager on the results of a game.

Here’s a state-by-state examination of where the country stands on sports gambling, as of 2022. And remember, if you live in a state where sports gambling is legal, check out SportsLine for expert predictions.

Alabama: Not legal.

The state has proposed multiple bills, including one in 2021, but all have been shot down. Alabama currently doesn’t have any commercial casinos.

Alaska: Not legal.

In 2020, the state put legalizing sports betting under consideration and Gov. Mike Dunleavy even showed support for the bill. However, the COVID-19 pandemic put an end to its consideration and the bill ended up expiring in May 2020.

Arizona: Legal.

Sports betting became legal on April 15, 2021. The legislation in place permits 20 operators in Arizona.

Arkansas: Legal. 

The state’s first official sportsbook (Oaklawn Racing Casino Resort) began operating in July of 2021, and there will be multiple others on the way, though the state is still prohibiting mobile online wagering

California: Not legal, but legislation proposed.

A number of bills have been put to the senate, but none have been successful. There is currently a third sports betting bill that is being proposed and there’s increasing optimism that it could pass.

Colorado: Legal.

Colorado became the 19th state to legalize betting and as of May 1, 2020 multiple operators allowed residents to open accounts online and place wagers.

In the 2020 election, Colorado expanded both the number and type of casino games it is able to offer. The state also eliminated some wagering limits.

Connecticut: Legal.

Sports betting is officially allowed in Connecticut as of September 30, 2021.

Delaware: Legal. 

Less than a month after the Supreme Court’s decision, Delaware moved to fully legalize sports betting. Three casinos began operating sportsbooks in June and the state is looking to add additional locations as well as mobile betting. 

Florida: It’s complicated. Sports betting was temporarily approved and legal, but now it is awaiting another launch due to a legal issue

Lawmakers in Florida approved sports betting in 2021. However, lawsuits in court have delayed the official beginning of betting in the state. Just three weeks after being approved, and accepting bets briefly, a judge ruled that an agreement between the state and the Seminole Tribe was illegal. The Seminole Tribe and Hard Rock Sportsbook had launched online sports betting on Nov. 1, 2021, but the app was shut down due to the ongoing legal battle.

Continue reading at cbssports.com

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January 1, 2022

5 Storylines That Shaped the 2021 U.S. Legal Sports Betting Narrative

Filed under: News,Sports betting — Tags: , , — News @ 9:00 am

This article originally appeared in Sportsbook Review.

There was no shortage of game-changing events for the U.S. legal sports betting scene in 2021. From the overall growth of the industry to the partnership/mergers that took place, to the sheer amount of money taken in, analysts may look back on 2021 as the year that added jet fuel to an already exploding industry in the U.S.

The foundational blocks laid by the events of 2021 should propel 2022 into uncharted territory. They should also pave the way for even more future expansion as reluctant states become more aware of the mainstreaming of the platform itself and just how much the tax revenue generated can be a boon for any given jurisdiction.

Let’s take a peek at some of the biggest U.S. legal sports betting stories of 2021.

Expansion

Eleven states legalized and launched their own legal sports betting platforms in 2021. There are six others such as Ohio that legalized but haven’t launched yet. New York agreed to expand its legal sports betting industry past just four upstate retail casinos – mobile sports betting in the Empire State is a game-changer for not only that jurisdiction but also for the national scene as well.

Altogether, there are now 30 legal sports betting states plus Washington, D.C. operating their own legal sports betting scenes. Once the six that are legalized in 2021 go live, 36 of 72% of U.S. states will have legal sports betting.

The three biggest fish – California, Texas, and Florida (although the Sunshine State actually did launch before being shut down by the courts) – have yet to welcome their own sports betting platforms. Eyes will be on those states in 2022 to see if they do indeed join the sports wagering family.

Partnerships

It seemed that 2021 was the year that everyone wanted to get in on the legal sports betting industry in the U.S., from high-end legal wagering providers to individual leagues, teams, and even players, to celebrities who lined up to become ambassadors for various brands.

Deals between sportsbooks such as Caesars’ acquisition of William Hill and Penn National’s takeover of theScore highlighted what was a U.S. legal sports betting gold rush in 2021.

Major pro sports leagues and even some college teams and events such as the Fiesta Bowl and the LSU Tigers signed on with sportsbooks in 2021 and some of the biggest names in the pop-culture universe joined the legal sports betting fray. Names like J.B. Smoove, Wayne Gretzky, Shaquille O’Neal, Drew Brees, and Jamie Foxx to name a few lined up deals to become sportsbook brand ambassadors in 2021.

The billion-dollar mark

A few short years ago, it seemed unfathomable for a state to hit a $1-billion sports betting handle in one month. Well, New Jersey has done it three months in a row and likely will make it four once December’s numbers are in and Nevada has eclipsed the $1-billion mark in two straight months.

New Jersey popped the bubble in September with a $1.01-billion handle and set the record in October for a state in a single month with $1.3 billion in bets taken in. Nevada saw $1.1 billion in sports bets in October and $1.086 billion in November.

While December had its share of COVID-related postponements, disruptions, and cancellations of sporting events, both New Jersey and Nevada have a chance to eclipse that $1-billion mark again.

The dollars

The wagering volume in the U.S. in 2021 was arguably the biggest story. A total $4.3 billion was bet on the Super Bowl alone in 2021. Spending at the country’s retail and mobile sportsbooks was like a runaway train last year. In June 2018, sports gamblers wagered $310 million for the month. In October 2021, the U.S. legal sports betting scene took in more than $7 billion with two jurisdictions missing on that report.

Five states surpassed $500 million in handle in 2021 and eight states took in over $400 million in a month during the year.

In 2020, the national sports betting handle stood at $21.5 billion. That number is expected to approach $50 billion in 2021. The American Gaming Association is out with its expectation that $46.8 billion will be wagered this year on sports in the U.S.

Looking ahead to 2022

Early in 2022, the U.S. legal sports betting family will welcome Ohio, the seventh most populous state, into the legal sports betting family, and a previously underwhelming New York state scene will bring a much-needed and long-overdue mobile platform into the fold.

Florida looks likely to get on board, California could be in line for its own legal sports betting platform and other major states are likely to consider, and possibly send, the ideas of legalized sports betting to their voters on the 2022 election ballot.

We thought that 2021 was an explosive year for the U.S. legal sports betting industry, but 2022 figures to provide more of a bang! A year from now, we should be talking about another year-over-year explosion of the U.S. legal sports betting industry. Whether or not it will double, as it did this year compared to last, remains to be seen.

Continue reading at sportsbookreview.com

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December 31, 2021

A Big Year For Legal US Sports Betting: A Rundown of Legalization, Launches in 2021

Filed under: News — Tags: , , , — News @ 9:00 am

This article originally appeared in Forbes.

The past year included a massive expansion of legalized sports betting in the US.

Heading into 2021, 20 states and Washington, D.C., were legal US sports betting markets. Now, at the dawn of 2022, there are sportsbooks in 30 states and DC open for sports bets.

Beyond those newly operating markets, several more are on the horizon in 2022 — both just waiting to launch and those nearing legalization.

States that legalized sports betting in 2021

Most of the states that launched in 2021 just crossed the finish line. Others were able to get the nod of approval, at least temporarily, during the calendar year.

Getting the work done

Voters in Louisiana, Maryland and South Dakota all approved sports betting at the ballot in November 2020. Legislators enacted the wishes of their voters in the spring of 2021.

Retail sports betting in South Dakota launched at casinos in the resort town of Deadwood in September.

Louisiana sports betting started with retail sportsbooks on Oct. 31, 2021, while mobile will likely launch in early 2022. Maryland sports betting began at several retail sportsbooks in December 2021, with online sports betting unlikely to start until late 2022.

Florida legalized, for a bit

In May 2021, lawmakers worked in a special session to pass Florida sports betting legislation as part of a new compact with the Seminole Tribe. Gov. Ron DeSantis signed the compact later that month.

Despite several legal challenges, the Hard Rock sportsbook app run by the Seminole Tribe launched Nov. 1, 2021. The Hard Rock app eventually was pulled in early December as court rulings mounted against the Seminole Tribe.

While the Seminole Tribe appeals the rulings, FanDuel Sportsbook and DraftKings Sportsbook are working to secure signatures needed to put sports betting on the 2022 ballot.

States that launched sports betting

While Ohio regulators are cleared to work toward its launch now and Florida stakeholders work through a complicated situation, ten states did cross the finish line in 2021.

Online sports betting in Virginia and Michigan sportsbook apps launched in January 2021; Michigan already had retail sportsbooks. Additionally, retail sportsbooks opened at tribal casinos to offer North Carolina sports betting, Washington sports betting and Wisconsin sports betting.

Here’s the full list of markets launched sports betting in 2021:

Continue reading at legalsportsreport.com

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October 27, 2021

Gaming Providers Continue Their Push to Legalize Sports Betting in California

Filed under: News — Tags: , , , — News @ 11:30 am

This article originally appeared in Sportsbook Review.

The biggest fish in the US legal sports betting industry, California, now officially has three proposals on the table to bring a legalized platform to their state. A group led by some of the nation’s top legal sports betting providers has officially jumped into the mix with the news that the state attorney general’s office is preparing a petition on their behalf for the Secretary of State.

Once prepared, those backing the “Californians for Solutions to Homelessness and Mental Health Support” will seek to get their plan on the 2022 Election ballot to compete with a Tribal initiative and one put forth by the state’s cardrooms plan in conjunction with a few local municipal governments. The newest sportsbook initiative looks to reel in tribal influencers to support a plan that appears to benefit their interests going forward.

What’s at Stake

There is no secret as to how huge the inclusion of California would be to the broad US scene. Analysts called California “one of the most important betting markets in the world.” Managing director for Eilers and Krejcik Gaming Chris Grove has said that “California is easily the largest prize in the U.S. sports betting market.”

California is home to 15 professional teams representing four major sports leagues and has America’s largest population of 40 million people. It would immediately be triple the size of the current-largest market in the US scene.

As for the financial implications, Eilers & Krejcik, a research firm that has advised state lawmakers on the issue has said that the California market could generate $200 million in annual revenue from taxes and licensing fees – $500 million upon maturity of the platform.

Continue Reading at sportsbookreview.com

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October 20, 2021

Single Game Parlays Have Taken The Sportsbook World By Storm

Filed under: News — Tags: , , — News @ 10:00 am

This article originally appeared in SportsHandle.

Introduced by FanDuel in 2019, the betting format is soaring in popularity across all books that offer the wager

If we’re going to rank the most momentous moments in the history of the business of sports betting, there are a few that stand out.

PASPA being overturned certainly ranks at or near the top, as does the invention of the point spread. That was thanks to Charles K. McNeil, a Chicago fella back who came up with the idea in the early 1940s.

But in recent months, a new item on the menu for sports bettors has taken hold, and based on early returns, it’s not so far-fetched to say the single game parlay will one day be held up as a shining example of, well, massive profit for sportsbook operators, but also as a turning point for the sports betting industry.

Called different things by different sportsbooks — mostly because the term “same game parlay” is currently being reviewed by the United States Patent and Trademark Office — the idea is simple: Bettors can choose items to parlay together from the same game. 

And it has exploded.

Introduced by FanDuel in late 2019, it has been quickly copied by virtually all the major online sportsbooks. And with good reason: Regular ol’ parlays have long been cash cows for the business. According to study by UNLV’s Center for Gaming Research, the average Nevada sportsbook — and this was based on nearly two decades’ worth of data — has a win percentage on parlay wagers of around 30%, compared to 6% on all other wagers.

Continue Reading at SportsHandle

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August 12, 2021

Canada Announces Date for When Provinces Can Launch Single-Game Sports Betting

Filed under: News — Tags: , , — News @ 2:00 pm

This article originally appeared in Sports Betting Dime.

Oh Canada! Citizens of the Great White North now have a date for when they can potentially enjoy legalized single-game Canadian sports betting.

David Lametti, Canada’s Minister of Justice, announced single-game sports betting will be allowed in provinces on August 27. It will be up to each province to decide how they will offer, or even if they will offer single-game sports wagering.

It’s the first major update for online sports betting Canada since June. That’s when the Senate of Canada approved Bill C-218 by a vote of 57-20 with five abstentions without amendment at third reading. This bill allows each Canadian province to regulate and legalize single-game sports betting on its own. This is similar to the 2018 process in the United States when the Supreme Court overturned the Professional and Amateur Sports Protection Act prohibiting states from authorizing sports betting.

The Private Member’s bill, sponsored by Saskatoon-Grasswood Conservative MP Kevin Waugh, amended the Canadian Criminal Code to remove language that required sports bets to be placed across multiple events. Until its approval, Canadian residents could only legally wager on multi-leg parlays.

The August 27 launch is timely as it will align perfectly with one of the biggest sports betting dates on the calendar — the start of the NFL regular season. The pre-season is already underway. But the official start of the 2021 regular season kicks off on Thursday, September 9 when the Dallas Cowboys host the Super Bowl champion Tampa Bay Buccaneers.

Continue Reading at sportsbettingdime.com

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