Sports Update: Vegas Golden Knights' Surprise, Latest in Arizona and Texas, Emerging Businesses, and Additional News in the Betting World
In the world of sports and gambling, there have been several significant developments in recent months. Let's take a look at some of the key updates in the United States and Puerto Rico.
United States
- Earlier this year, a pair of Minnesota lawmakers filed the first of four sports betting related bills, but no action has been taken yet.
- Georgia and New York are being considered for the first state to regulate sports betting in the US.
- The North Dakota House has voted to send a sports betting referendum to the voters. The House passed ND 1234, which allows for betting on professional sports only, and ND 3032, which calls for a referendum on sports betting. However, a bill that would have allowed for historic horse racing in North Dakota also failed.
- Two states that border North Dakota have legal sports betting, but it's only live in Montana.
- In the sports world, the Vegas Golden Knights have partnered with several sports betting providers, including BetMGM, DraftKings, FanDuel, Caesars, and others known for prominent US sports betting markets. This partnership has received criticism and was discussed in the Review-Journal. Todd Dewey (@tdewey33) and Aaron Kessler (@aaronkessler) also tweeted about the partnership on February 27 and 24, 2021, respectively.
- The Arizona Senate Rules Committee has sent sports betting to the floor.
- A Texas bill would allow professional teams to be licensed sportsbook operators.
Puerto Rico
- Puerto Rico has released sports betting rules, allowing for sports wagering at cock-fighting venues and horse racetracks, among other locations. The tax rate for digital wagers is set at 12%, while the tax rate for brick-and-mortar locations is set at 7%.
- The fee for a casino or horse-track license in Puerto Rico is set at $50,000 per year. The fee for "point of sale" or satellite locations is set at $2,500 per year.
- Digital operators in Puerto Rico must be tethered to a brick-and-mortar location and have a physical presence in Puerto Rico for customer service.
- DraftKings has partnered with Cal Ripken Jr.
- Recently, sports data company Sportradar has seen a surge in value, now estimated around $10 billion, with SPAC rumors resurfacing.
These developments highlight the growing interest in sports betting across the United States and Puerto Rico. As more states and territories move towards legalising sports betting, it will be interesting to see how this market continues to evolve.
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