One of the most significant non-COVID developments in 2020 is the unification of DraftKings and SBTech into a single company. The reverse merger saw the daily-fantasy-sports-turned-sports-betting-company go public with a multi-billion-dollar valuation.
Last week the National Council on Problem Gambling hosted its annual symposium, but like every other major industry get-together, the 2020 iteration of the NCPG symposium took place virtually.
If you tuned into the live stream of yesterday’s Senate Judiciary Committee hearing dubbed, “Protecting the Integrity of College Athletics,” hoping for rational discussion on sports betting policy, you were probably disappointed.
In 2018, Senators Orrin Hatch and Chuck Schumer introduced a federal sports betting bill called the Sports Wagering Market Integrity Act. The key goals of the bill were: Ultimately, S.3793 did not gain much traction in Congress and never made it to a vote. The US online sports betting industry and some lawmakers opposed parts…
Sports betting, and particularly online sports betting, is the gambling product du jour, but it’s not the only item on the menu. Another fast-spreading product that gets far less attention is online lottery.
New research by the American Gaming Association (AGA) points to legality as one of the core issues on bettors’ minds when they choose to place bets.
There’s a tendency to view sports bettors as a single group, but the reality is gamblers come in all shapes and sizes. A recent report issued by BetGenius, a sports data and software company, shows how much variety there is in the burgeoning legal US sports betting space.
Like virtually every other industry, the legal US gambling industry is attempting to rebound from COVID-19. So far, the road to reopening has been a bumpy ride.
Famously, at the height of the euro crisis in the summer of 2012, then head of the European Central Bank Mario Draghi issued a clarion call to the world’s investment community: The bank would do “whatever it takes” to ensure the stability of the single currency.
States are scrambling to plug budget holes caused by the novel Coronavirus shutdowns. One revenue opportunity is gambling expansion, which was already a hot topic in state legislatures before COVID-19. But gambling policy isn’t something states should rush into.
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