Kentucky Sports Betting is on the Agenda for 2020

Kentucky Sports Betting is on the Agenda for 2020

The state of Kentucky has yet to legalize, regulate, and offer sports betting, but that may change sooner rather than later in the Bluegrass State.

Over the last few years, lawmakers in Kentucky have explored and discussed legal sports betting, but have not yet moved to legislation. The state has become more informed via conferences, studies, and more but nothing has come of it yet.

 

Is 2020 The Year for Kentucky Sports Betting?

Via the River City News, the Interim Joint Committee on Licensing, Occupations, and Administrative Regulations recently met, and co-chairman of the committee Adam Koenig has hope for Kentucky Sports Betting in 2020. Koenig was the first to propose sports betting in legislation in 2019, and he is on record saying he will try again in 2020, which will be much easier.

In Kentucky, even years (2018, 2020, etc) means only the majority is needed for legislation, and Koenig said sports betting had more than 51% of the votes in 2019. Odd number years need at least 60% for approval. This is great news for Kentucky residents, as sports betting seems closer and closer.

The Kentucky Attorney General Andy Beshear is all in favor as well. He is quoted in saying:

“We talk about being competitive, other states are eating our lunch. It’s Tennessee that just authorized sports betting. It is Indiana that has leached money off of us. We already lose $550 million of tax revenue from what Kentuckians bet in our border states in casinos. It’s time for casino gaming, it’s time to treat fantasy sports for what they are, it’s time for sports betting, and we need to prepare for online poker, which is coming.”

 

Beshear makes a great point, as states that border Kentucky have casinos, sports betting, and more. West Virginia, Tennessee, and Indiana all have passed sports betting regulations. Additionally in West Virginia, Tennessee and Indiana you can already bet on sports on your mobile devices. All in all, West Virginia, Tennessee, Indiana, Ohio, Illinois, Virginia, and Missouri either ahead of Kentucky or right there, meaning time is of the essence.

 

Fixed-Rate Betting on Horse Races

 

Another part of what is being proposed in the state of Kentucky is fixed-rate betting on horse racing. For those wondering, this means when a bettor places a bet on a horse at 5:1 odds, it would stay at 5:1 odds. Currently at most places (Kentucky included), the end result of the odds is what you get for horse racing, depending on certain factors such as bettors and volume on certain horses. It’s called “pari-mutuel” betting, which essentially means you are betting against others and the odds move until post. This is already in effect in New Jersey at DraftKings Sportsbook app.

Senate Majority Leader Damon Thayer has asked Koenig to include fixed-rate betting on horse races in his sports betting legislation upon re-introduction in the 2020 session.

Times are changing in Kentucky, which is great news for gamblers in the Bluegrass State.

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Could Georgia Sports Betting Happen in 2020?

Could Georgia Sports Betting Happen in 2020?

In Georgia, there are a plethora of professional and collegiate sports teams. The Atlanta Braves, Falcons, Hawks, Atlanta United FC, Dream, Georgia Bulldogs, Georgia Tech Yellow Jackets and more. But, you cannot bet on sports in the state of Georgia.

Yet, that is.

In August, the future of sports betting in Georgia began to pick up steam after the Georgia Lottery was involved in two meetings that involved Atlanta’s pro sports teams, who are in favor of sports betting in Georgia.

The Senate has already discussed the potential legal ramifications of horse racing and sports betting in the state, and Georgians have expressed the want for legal sports betting after seeing many other US states add it to their offerings.

 

Georgia Sports Betting 2020?

Given the fact that three sports betting bills were introduced in the 2019 legislative session and recent news and discussion, it is very likely it will be re-introduced and/or discussed in the 2020 session as well.

The Senate Gaming and Parimutuel Wagering on Horse Racing and Growing Georgia’s Equine Industry Study Committee recently met to discuss these issues, and chairman and Senator Brandon Beach mentioned that the entire committee “really just [has] a lot of questions about how this industry works” according to TheCentreSquare.

The committee discussed the pros and cons of sports betting in the state, but it is nothing shocking. It adds a revenue stream to the state, but in a southern state it risks social issues, like always. In order for Georgia to have sports betting, it would likely need to amend the state’s constitution. The best way to do so is by referendum, which needs a two-thirds vote from congress in addition to a majority vote from state voters. This is not an easy or timely process.

 

Regional Sports Betting Competition

Georgia loses out to other states that are close by that have already legalized and/or offered sports betting, like Arkansas, Mississippi, West Virginia and Tennessee. The Peach State will not want to fall behind, as other states have in the northeast (like Maryland and some New England states) with bettors traveling over state lines to bet, and the state getting nothing from it.

In addition, neighboring states to Georgia like Florida and South Carolina are not near in terms of legalizing, so residents would surely travel to the state to bet if need be. Given the popularity of college football in this region, this is a certain benefit Georgia would take great advantage of.

Given the massive number of people in Georgia, the college football following in SEC country, and of course all of Atlanta’s pro teams, it would be highly beneficial for the state to gain taxes from sports betting.

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FanDuel Sportsbook App Set To Launch In Indiana

FanDuel Sportsbook App Set To Launch In Indiana

FanDuel Sportsbook is extremely close to offering yet another state to their mobile sportsbook, as Indiana nears the finish line to offer mobile betting in the confines of the Hoosier State. The expectation is that the sportsbook will be ready to take bets within days of the post going live.

 *** UPDATE *** 

FanDuel Sportsbook received approval from the IGC this morning for a Tuesday 10/22/19 launch of their online sportsbook and mobile in Indiana!

 

FanDuel Sportsbook App in Indiana

 

In the last couple months, you have only been able to bet at a retail sportsbook location in Indiana. Then, mobile sports betting came quickly after from DraftKings Sportsbook and Rush Street Interactive’s BetRivers Sportsbook. Now, it seems imminent that FanDuel Sportsbook will join the rush of Indiana online sports betting.

Currently, FanDuel Sportsbook Indiana has operated two retail locations, both owned by Boyd Gaming.

1. Belterra Casino Resort (Florence, Indiana)

2. Blue Chip Casino (Michigan City)

 

The Belterra Casino location has five betting windows, 10 self-service kiosks and a full array of televisions and a scores ticker, run by FanDuel Sportsbook in Florence, Indiana.

FanDuel Sportsbook in Michigan City, Indiana is located at the Blue Chip Casino, and offers a massive 2,700 square foot sports betting floor with five betting windows, 22 televisions, two tickets. Like the Belterra location, it offers spreads, moneylines, totals, parlays, and more to visitors and consumers of the casino.

FanDuel Sportsbook’s partnerships in Indiana aren’t limited to the state for sportsbooks, as they struck a deal for fantasy sports with the Indianapolis Colts and have been working with sports personality Pat McAfee as well.

Indiana is one of eight states that is allowed to offer sports betting on mobile devices and computers. They join Iowa, Nevada, New Jersey, Oregon, Pennsylvania, Rhode Island, and West Virginia. FanDuel Sportsbook offers in Pennsylvania and New Jersey, but obviously Indiana is soon, along with Iowa and others.

 

The Challenge

The hard part for FanDuel Sportsbook in Indiana will be joining a state that already has a few betting options (DraftKings and BetRivers). With that being said, in every other state FanDuel has been one of the top sportsbooks in handle and revenue.

In Pennsylvania, FanDuel Sportsbook just finished a massive month of September with over $88M in handle, good for over 40% of the states bets.

New Jersey had similar numbers, but FanDuel Sportsbook does not have as much of a stronghold on the market. FanDuel is number one by a few million in handle, but DraftKings Sportsbook is close behind.

The “rat race” between FanDuel and DraftKings Sportsbook Indiana will continue as we are in the beginning of this new “industry”, and that will continue in Indiana once FanDuel Sportsbook is live, officially.

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Indiana Online Sports Betting Goes Live With DraftKings Sportsbook

Indiana Online Sports Betting Goes Live With DraftKings Sportsbook

What a week it has been for DraftKings Sportsbook. First, they were approved to begin taking mobile bets in November in Pennsylvania. Now, another big piece of news has dropped in the first week of October.

Sports betting in Indiana will be LIVE on Thursday, October 3rd. DraftKings Sportsbook received approval on Wednesday to be ready for Thursday’s launch of mobile sports betting in Indiana. DraftKings Sportsbook has a partnership with Ameristar East Chicago, a Penn National Gaming casino, located in East Chicago, Indiana.

There are two operators ready to go in Indiana right now: DraftKings and Rush Street Interactive. Indiana will be ready to go with a bang on the fourth of October. There is no immediate news on FanDuel Sportsbook Indiana, but we have to assume they are next.

 

DraftKings Sportsbook Takeover

 

DraftKings Sportsbook is now available to take bets in New Jersey, Pennsylvania (November), West Virginia, Mississippi, and now Indiana.

In New Jersey, DraftKings Sportsbook is partnered with Resorts Casino. In Pennsylvania, DraftKings is partnered with Meadows Racetrack and Casino. Meadows can take bets in their retail location, but another few weeks are expected before mobile bets can be taken.

 

 

Bet on Sports in Indiana

Sports betting in Indiana has already been effect for this NFL season, but the state has only been allowed to take physical bets in their retail sportsbooks.

October 3rd will be the beginning of the mobile betting takeover, which is just in time for the NBA Preseason and of course NFL Week 5 and the NBA regular season starting in a few weeks.

Remember, mobile sports betting is king in states where it is allowed. Over 80% of the total betting market is done online in New Jersey, and Pennsylvania is not far behind.

You will need to be 21 years of age or older, and located in the state of Indiana. This does mean that neighboring state residents can travel into Indiana and place bets. The user must only be located in the state to place bets.

 

 

Chicago, Louisville, and Cincinnati Bettors Too?

This is a very interesting development, because of how close a few large cities are to the state of Indiana. Chicago, Louisville, and Cincinnati are all a very close drive to the state of Indiana and Illinois, Kentucky, and Ohio all do not have mobile sports betting ready to go.

There is a very large demographic of people, and plenty of sports fans in each of those major cities. Expect these large operators to advertise in these large cities as well, attracting some Chicago residents to travel to Gary, Indiana, or some Louisville residents to take a quick drive a few minutes north.

In Indiana, you will be able to bet on football, basketball, racing, hockey, soccer, golf, fighting, boxing, collegiate sports, and more.

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Rhode Island Mobile Sports Betting Coming Soon

Rhode Island Mobile Sports Betting Coming Soon

 

With a botched launch of sports betting in the state, Rhode Island is now looking strongly into online sportsbooks. Vendors IGT and Twin River had planned for revenue of $23.5 million, but that was downgraded significantly to just $11.5 million due to a late 2018 launch. That figure is potentially going to decrease once again.

Issues at Twin River Sportsbook per the slow processing of bets, led Senate President Dominick Ruggerio to provide the following statement:

“The new in-person sportsbook that opened in November has been very popular, with lines stretching out the doors,” said President Ruggerio. “It is an entertainment option that many Rhode Islanders enjoy, and visitors from outside the state are also flocking to our gaming facilities to place their wagers on sporting events. Expanding to mobile gaming would provide a convenient option for those wishing to enjoy this form of entertainment, and open up the economic benefits beyond the walls of Twin River. I can envision a group of friends from out-of-state spending an evening out in a local establishment where they can both watch the game and place a wager.”

The spokesperson for Ruggerio, Greg Pare, also chimed in saying, “The Senate President shares the frustration of consumers regarding long lines and wait times for sports wagering at Twin River. He has expressed these concerns both publicly and Twin River officials. New Kiosks are expected to be active in March, which will help alleviate backups, as will mobile sports gaming should his legislation be approved.”

Rhode Island Online Sportsbook Legal Issues?

House Minority Leader Blake Filippi questions if the expansion to an app is legal. “The preliminary and central question is whether this proposal is even constitutional. The People through ballot a question approved casino gambling at Twin River in Lincoln, and subsequently, in Tiverton. To start, the proponents need to produce a well-reasoned legal opinion regarding this proposal’s legality,” said Filippi.

Under Ruggerio’s bill, consumers would be able to bet online with the Twin River establishment. The only catch is that they need to set up their accounts initially at Twin River and must be within the confines of the state.

The state would also continue to receive 51 percent of all winnings when it comes to Rhode Island sports betting, which is by far the highest rates in the country.

“Revenue from sports gaming supports critical state services, like road and bridge repairs, education and human services. This revenue offsets reliance on taxes for state needs,” said President Ruggerio. “It is estimated that 97 percent of sports betting takes place illegally. This is an opportunity to give Rhode Islanders and visitors a legal avenue to participate in an activity they enjoy, while providing a very tangible benefit to our state.” With Mass. Sports Betting coming any day, Rhode Island needs move quickly.

 

States With Legal Sports Betting USA

Online Sports Betting LEGAL & ACTIVE   Online Gambling Sites LEGAL, AWAITING LAUNCH Legal Sports Betting POSSIBLE 2019 LAUNCH

AL AK AZ AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY DC

Massachusetts Sports Betting To Begin With Online/Mobile Sportsbooks

Massachusetts Sports Betting To Begin With Online/Mobile Sportsbooks

Massachusetts Sports Betting

With the New England Patriots playing at the Kansas City Chiefs this upcoming weekend, one Massachusetts senator is looking to also create some buzz: A bill to legalize sports betting in Massachusetts.

That senator is Brendan Crighton, and his bill would allow for Bay State casinos and online giants such as DraftKings and FanDuel to apply for licenses to operate in the state. Let’s remember DraftKings was founded in the state.

DraftKings Sportsbook Well Positioned

This is the first bill of its kind in the U.S. where the sports betting licenses are “decoupled” from current state casino gambling licenses. Not only is Crighton on this bandwagon, but Governor Charlie Baker has a plan he is rumored to bring up soon and Rep. Dan Cullinane has filed a bill in the House to kick off this upcoming two-year period.

On Tuesday, Baker was quoted about this issue saying, “I think when the Supreme Court decision was issued last summer I think I said that we were going to take a good look at our options and if appropriate work with our colleagues in the Legislature on that one going forward and that’s still our position.”

Crighton picked up this issue from Eileen Donoghue who worked with daily fantasy sports prior to becoming to town manager of Lowell.

“From those conversations, we came up with what we think is a bill that will take sports betting out of the shadows, but provide responsible consumer protections and still maintain the integrity of the sports we all like to watch,” Crighton said.

Massachusetts Sports Betting Details

Under this bill, the Gaming Commission would be in charge of issuing licenses, and the applicants would be limited. For example, MGM Springfield, Suffolk Downs, DraftKings, Wynn Resorts and DraftKings main rival, FanDuel.

For licensing costs, existing brick-and-mortar establishment would pay $500,000 and online/mobile entities would pay $1 million dollars.

With projections of between $50 and $70 million annually in sports betting revenue, there would also be a 12.5 percent tax on profits.

With eight states including the neighboring Rhode Island already in the sports betting market, as well as roughly a dozen more in the process, Massachusetts may be a bit late to the party, but the Northeast will be given more options.

“Every day there are new legislatures out there filing bills and considering things so really it’s time for us to be deliberate but also have a sense of urgency to get something passed this session,” Crighton said.

House Speaker Robert DeLeo said he did not want to rush this issue, he did say he is having Rep. Joseph Wager, the Economic Development Committee Chairman, to look into it. Crighton did not check in with anyone in the House prior to the bill. Because of that, he is expecting there to be plenty of “robust debate”, he said.

Massachusetts Colleges & Universities Exempt

Like most states, the prohibition on betting on sports in Massachusetts was surrounding colleges were concerned about the integrity of their games.

“We heard some concerns from institutions of higher education, in terms of the integrity of their sports. They’re not the billion dollar operations that professional sports leagues are. They’re paid athletes. So we kept Massachusetts college teams exempt. You can’t bet on a Massachusetts college team,” Crighton said.

Sports Betting Integrity Fees?

Cullinane and Crighton’s bill proposals do of course differ. Cullinane has fees for sports leagues to collect one quarter of one percent of the states total bet handles as well making sports betting mobile/online companies be tethered to establishments.

Meanwhile, Crighton doesn’t believe the fee is necessary as leagues have not reached out about that and thinks mobile and retail should be separate.

“We certainly see that as the future of gaming and if we are going to bring people into legalized sport betting and off of these illegal platforms, we’re going to need to have that component,” Crighton said.

Just think of the amount of bets the state would get right now with the Patriots being underdogs in Kansas City?