Sports betting and online gaming in Connecticut are expected to spur gambling addiction. Has the state done enough to prepare?
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Glenn looks at how this new sports betting deal aims to grab a new gambling audience.
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It is an issue that gained national attention in May when the owner of the NBA’s Washington Wizards and NHL’s Washington Capitals, as well as the Capital One Arena in Washington, D.C., where they play, opened the nation’s first arena sportsbook operated by William Hill. The book doesn’t share betting revenues with the teams
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Iowa saw a slight drop in sports wagering handle in May, the second straight month of a decline in sports betting action.
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Illinois sportsbooks suffered an approximate $100m drop in May sports wagers; however, despite this decline it was still number two overall in the US.
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Last month, Caesars announced expansion plans of its own, which include rebranding recent acquisition William Hill using Caesars’ own name. While that move is still pending, Caesars is moving ahead with other revenue streams. It announced the PlayUp deal on June 8.
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Sports betting firm PointsBet agreed to a partnership with the Women’s National Basketball Association. It’s the first deal with a women’s sports league for the company.
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Allen, 60, has more than four decades of experience in the gambling industry, and the tribe’s casino operations have expanded in Florida, throughout the country and internationally under his tenure at Seminole Gaming.
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A retired California nun has agreed to plead guilty to federal fraud and money laundering charges for stealing more than $835,000 from a school to pay for personal expenses including gambling trips, the Justice Department said.
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Kim believes that given a little time, the Bally’s name will be a major player in sports betting. The company, he said, is leveraging its brick-and-mortar assets to get a foothold into digital gaming — both sports betting and, in the future, iGaming.
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Greektown Casino, MGM Grand Detroit and MotorCity Casino accepted $20.2 million in sports bets in May after three consecutive months coming within $1 million of the $24 million range.
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Drexel alum Alex Kane took one look at the traditional sports-betting model and concluded, “This structure stinks.” He set out to revolutionize the market.
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