July 16, 2021

US Sports Bettors Have Already Wagered More in 2021 Than All of 2020

Filed under: News — Tags: , , , , — News @ 5:00 pm

This article originally appeared in Sports Betting Dime.

Halfway into 2021, the United States has already generated more sports betting revenue than it did in all of 2020. As the official monthly revenue reports from June 2021 continue to roll in, it appears the overall sports betting handle (the amount wagered on sports) will more than double year-over-year. 

As legal sports wagering expands into more and more states, the popularity of sports betting is booming. With additional states such as Arizona, Maryland, and Louisiana expected to come online later this year, American sportsbooks are on track to take in more than $45 billion of action in 2021. 

In just six months, Americans have already wagered more than $21.5 billion with legal sportsbooks this year. After paying out winning bets, that’s resulted in more than $1.6 billion in gross gaming revenue. Over $200 million has wound up back in state coffers, often used to help fund things such as K-12 education programs. Compare those numbers to previous annual totals and it’s obvious the industry is skyrocketing. 

The best three stand-alone months in the young history of legal sports betting in the US have all come in 2021. In March, a record $4,611,002,625 was wagered on sports in a single month, reflecting the widespread popularity of college basketball’s March Madness. Typically, the bigger betting volumes come during football season, so there are even greater months ahead this year. Couple that with the fact that additional new states are launching soon and it becomes clear the industry has not yet reached its ceiling.

At the individual state level, New Jersey is once again leading the way. The Garden State will almost certainly finish with the highest betting handle of any state in 2021 – it’s currently on track to take in over $9 billion (and possibly even $10 billion) in wagers this year.

Continue Reading at sportsbettingdime.com

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June 25, 2021

Get A Grip: The Week In Sports Betting: Florida Fightin’ Words, Ohio Inaction, Canada, And Everywhere, Man!

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

This article originally appeared in Sportshandle.

It’s information overload everywhere, and there’s not time enough to sleep and eat and stay fully apprised of what’s happening on this crazy blue dot of ours (two out of three ain’t bad). Here’s the weekend Sports Handle item, “Get a Grip,” recapping the week’s top U.S. sports betting stories, highlighting some fresh news, and rounding up key stories. Also check out this week’s Wild World of Gambling at US Bets.

DraftKings and FanDuel are Florida’s ‘champions’

It won’t be an easy lift, but the contest has officially started: DraftKings and FanDuel will be racing to collect nearly a million signatures in order to secure a ballot initiative that would break open the Florida mobile sports betting marketplace that, as currently and tentatively constituted, would be a Seminole Tribe monopoly.

As first reported by Sports Handle on Wednesday and further buttressed by a review of the draft copy of the initiative on Thursday, the Florida Secretary of State website has now published the proposed constitutional amendment, which bears the Serial Number 21-13.

Financially and strategically backed by DraftKings and FanDuel, the political action committee Florida Education Champions will serve as the vessel for the initiative.

The PAC was registered on June 2 and is chaired by David Johnson, a Republican political consultant. Johnson’s wife Christina, president of On 3 Public Relations, is serving as the group’s spokesperson.

“Yes, those entities [DraftKings and FanDuel] are going to be supportive of this effort,” said Christina Johnson, acknowledging that they are driving the campaign to amend the state Constitution.

Further in a statement published by the Florida Phoenix, she added, “The Florida Education Champions committee is comprised of like-minded individuals invested in increasing public education funding, without raising taxes, in Florida, by expanding sports betting in the state. The committee will be actively fundraising, targeting donors who support our mission to get this pro-education ballot amendment before the voters in November 2022.”

Continue Reading at sportshandle.com

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