This week’s State of the Union, in partnership with Segev LLP, covers the latest figures from a range of sports betting markets, as well regulatory progress across a number of states.
Indiana sports betting market breaks handle record in February
Indiana’s regulated sports betting market reported a 9.6% month-on-month rise in handle in February, breaking the record set in January thanks largely to continued online growth.
Amounts wagered in February rose to $187.2m, of which $145.9m – 77.9% – was staked via mobile apps and websites. After player winnings, revenue of $11.1m, down 13.7% from January 2020.
Looking at the breakdown of handle across sports, basketball proved the most popular in February, with amounts staked rising 50.8% to $90.2m, making it by far the most popular. While the Super Bowl took place on February 2, Indiana bettors still bet $11.6m on the sport, largely over those two days.
Retail losses hit Iowa sports betting market in February
Iowa has reported net receipts of $755,334 from its sports betting licensees in February, down 76.6% month-over-month, after losses in the retail channel offset marginal growth in online revenue.
Total handle for the month fell marginally, however, dropping 1.9% to $56.9m, as a result of a decline in retail stakes. Amounts wagered online continued to grow, rising 11.6% to $37.8m, but this was wiped out by a 20.9% drop in retail stakes to $19.1m.
NY sports betting market hits new low in February
New York’s four commercial casinos have reported losses of $179,593 from sports betting in February, with del Lago the only venue to actually generate revenue during the month.
February’s total marked a new low point for the market, with the loss comfortably below December 2019, previously New York’s previous weakest month, when it generated revenue of $780,418.
BetRivers takes first Illinois bets in time for March Madness
The BetRivers sportsbook at Rivers Casino Des Plaines took the first legal sports wagers in Illinois on 9 March after receiving approval from the Illinois Gaming Board.
The sportsbook, operated by Rush Street Gaming and powered by Kambi’s sports betting technology, went live at noon Central Daylight Time, following an opening ceremony at 10AM.
Washington tribal betting bill heads to Governor
A bill to legalize sports betting at tribal gaming venues in Washington State is headed to Governor Jay Inslee after the House of Representatives passed the amended version returned by the Senate on Saturday (March 7).
House Bill 2638, which authorizes in-person sports betting at tribal gaming facilities, was voted through by 83 Representatives, with just 14 opposing the bill.
Virginia sports betting bills head to Governor
Bills that would legalise certain forms of sports betting in Virginia have moved forward to Governor Ralph Northam for signature, after securing approval in the state’s House of Representatives and Senate.
House Bill 896, which sets out plans to legalise online and mobile sports betting, was passed by the House yesterday (March 8) by a vote of 59-35, after clearing those Senate on March 7 by a vote of 33-5.
Maryland Senate clears sports betting bill in landslide vote
The Maryland Senate has passed a bill that would legalise sports betting in the US state, approving the measure by a landslide vote of 47-0.
Senate Bill 4 will now progress to the House of Representatives, with a hearing in the Ways and Means Committee scheduled for March 19.
Colorado issues eight new sports betting licenses
The Colorado Limited Gaming Control Commission has awarded a further eight licenses for legal sports betting in the state, including two permits for DraftKings.
Lady Luck Casino, Isle Casino Hotel and Ameristar Casino, all of which are located in Black Hawk, Colorado, were issued with master sports betting licenses.
Detroit casino revenue reaches $121.7m in February
Commercial casinos in Detroit, Michigan, generated $121.7m in revenue during February, a year-on-year increase of 6.3%.
Miomni hits out at “inconsistent” Delaware North claims
Sports betting software provider Miomni Gaming has hit back in its legal dispute with Delaware North, accusing the US casino operator of making “inconsistent” claims over the collapse of the parties’ joint venture.
Lawmakers renew efforts to bring legal betting to Louisiana
With Louisiana’s 2020 legislative session beginning on March 9, five lawmakers in the state’s House of Representatives and Senate have put forward bills to legalize sports betting.
New Jersey hits back at DOJ in Wire Act dispute
New Jersey Attorney General Attorney General Gurbir Grewal has filed an amicus brief setting out the state’s opposition to the US Department of Justice’s (DoJ) reinterpretation of the 1961 Wire Act, arguing federal law permits most forms of online wagering.
Judge rules SBTech-Oregon Lottery contract must be disclosed
A Circuit Court judge in Oregon has ruled that SBTech must disclose the terms of its contract with the state’s lottery to provide sports betting in the state.
BetMGM goes live in Nevada
BetMGM, the sports betting brand operated by the Roar Digital joint venture between MGM Resorts and GVC Holdings, has gone live in Nevada.
PointsBet launches mobile sports betting in Indiana
PointsBet has launched mobile sports betting in the state of Indiana after it secured approval from the state’s Gaming Commission.
Maverick Gaming to purchase Nevada casino from Eldorado
US casino operator Maverick Gaming has agreed a deal to acquire the Montbleu Resort Casino & Spa in Lake Tahoe, Nevada, from Eldorado Resorts for an undisclosed sum.