Sports Recap: Weekly Update on Betting Trends: Sports Teams from Missouri, Kentucky, Georgia Assert Influence and More
🌌 It's a cosmic whirlwind of news, and there's just not enough hours in the day to catch up on sleep, munch on some grub, and stay on top of what's brewing in our whacky solar system! Here's the latest from this week's Sports Handle item, "Let's Get This Show on the Road," a rundown of the week's top sports betting stories, sprinkled with some fresh scoops and other developments in the broad realm of legal U.S. sports betting. You might've missed 'em, but they're worth a peek:
Missouri: Bringing Zombie Bill Back from the Brink
A Missouri sports betting bill, previously thought to be six-feet under in a committee graveyard, clawed its way out last Thursday. The House Rules Committee voted, 5-2, to send HB 2088 to the House floor for a vote, following Tuesday's fail to secure a committee recommendation. TheRules Standing Committee, however, voted to "consider" the bill, thanks to a lawmaker switching his vote late in the game[1].
Meet Rep. Dan Shaul, sponsor of this zombie bill that's one of at least six vying for Jefferson City's attention. Shaul's bill, mostly a video lottery bill with sports betting tagged on, includes a "data mandate" as well as a $50K annual administrative fee to the state. So far, only three states - Tennessee, Illinois, and Michigan - have enacted laws mandating the use of "official league data." The bill would permit sports betting in designated entertainment districts, on gambling boats, and via the web. Mobile platforms must be tethered to physical locations, and the tax rate on gross revenue would be 9%[1][2][3].
Kentucky: Could the Game of Thrones-Like Showdown Save Sports Betting?
In a political power play that's reminiscent of the tension between the Starks and Lannisters, 11 amendments were filed on Tuesday to HB 137, Kentucky's sports wagering bill that's been on the House floor since January[4]. Bill sponsor Adam Koenig hadn't anticipated the surge. These amendments cover everything from increasing betting sites to boosting taxes. The key amendments, though, would ramp up taxes from the current 9.75% for retail and 14.25% for mobile sports betting to as high as 29.25% and 42.25%, respectively.
Amidst this sudden spate of amendments, it's uncertain whether HB 137 will make it or not, but insiders suspect these amendments could serve as a tactic by Republicans to slow down the bill's progress[4][5]. Democratic Governor Andy Beshear recently tried to accelerate the legalization process, which has stalled in the past. Koenig, a Republican, had previously stated that the House had enough votes to approve sports betting but not enough Republican votes[6]. The Kentucky General Assembly adjourns on April 15[4][5].
Up North: Sports Betting Dips Its Toes in New Waters
It was a chilly start to the week for sports betting in two far-northern states.
In South Dakota, Senate Joint Resolution 501 passed the Senate on Tuesday, moving forward to the House. The one-paragraph constitutional amendment adds "wagering on sporting events" to the current Deadwood gaming section, potentially paving the way for in-person retail sports betting in Deadwood[7].
Meanwhile, in Wyoming, a bill was filed on Wednesday to legalize mobile sports betting solely for professional sports. The bill prohibits prop bets on college sports and bets on Wyoming college teams or college events held within the state[8]. The bill calls for a 16% tax on gross gaming revenue, a $20K operator application fee, and a $10K renewal fee. The minimum age for sports betting would be 18[8].
Other Happenings
"Hey Georgia, Where's My Cut?"
Atlanta Braves CEO Derek Schiller addressed Georgian lawmakers who felt there was no money for the state to gain from sports betting, stating, "Sports betting is happening today and Georgia is getting no money from it"[9].
Everyone's Talking
Atlanta pro sports executives lobbied for legislation to legalize sports betting in the state [Savannah][10].
Legislators Stubborn as Mules
Legislation filed in Illinois aims to repeal the state's sports betting law [US Bets][11].
Who's in Control?
Connecticut lawmakers stuck to their claim of exclusivity at a sports betting legislation forum [The Day][12].
"Just One Mississippi(ve step)"
Lawmakers are contemplating allowing state-wide mobile wagering for Mississippi [Sun Herald][13].
"Time to Punch in" at Work
Casinos in Illinois hired temporary workers in anticipation of the state's sports betting launch [Sun Times][14].
Betting on Growth
The XFL is fully embracing betting, starting from day one [Chalk][15].
Strategic Partnerships
Kindred Group entered into a partnership with Caesars Entertainment [Kindred][16].
Old School Pete's Still Hustling
Former Huskers football coach Tom Osborne opposes legal sports gambling in Nebraska[247Sports][17].
Mobile Betting Remains Off-limits
Washington voted in favor of a tribal-only sports betting bill, sans statewide mobile [SH][18].
Sports Media and Betting
William Hill secured a deal to become the official sportsbook provider for CBS Sports[SH][19].
Tweets Worth Viewing
Kentucky sports betting tax rates rising higher than the Appalachian peaks... [DraftKings market cap currently ranging between $5.4 - $6.0 billion][19]
The loyalty of fans and NFL alumni to the league could be a powerful deterrent against attempts to monopolize game data and turn it into a revenue stream[20]
In Q4 2019, FanDuel led the market by revenue on a brand-by-brand basis in operational states (excluding Nevada)[21]
Drinking Local
Despite Senate override, Maine House kills sports betting[22]
Differing Virginia sports betting bills need ironing before deadline[23]
Indiana Online Sportsbooks Handle $123 Million Worth of Bets in January[24]
Also, Around Our Network this Week:
Alaska Governor Proposes Sports Betting, Lottery Legislation[25]
- The Missouri House Rules Committee revived a previously dead sports betting bill, HB 2088, sending it to the House floor for a vote after a late-game lawmaker switch.
- Rep. Dan Shaul, sponsor of the bill, aims to mandate the use of official league data and impose a $50K annual administrative fee to the state.
- In Kentucky, HB 137, the sports wagering bill, is facing a power struggle with amendments raising taxes and potentially slowing down its progress.
- Amid the amendment surge, it's uncertain whether HB 137 will make it through the Kentucky General Assembly before their April 15 adjournment.
- South Dakota's Senate Joint Resolution 501, a constitutional amendment for in-person retail sports betting in Deadwood, passed the Senate and is moving to the House.
- In Wyoming, a bill was filed for mobile sports betting, prohibiting prop bets on college sports and bets on Wyoming college teams or college events held within the state. The bill calls for a 16% tax on gross gaming revenue, a $20K operator application fee, and a $10K renewal fee.
