Upcoming Events: Daytona 500 Race, NBA All-Star Game, and DraftKings' Fourth Quarter Financial Reports
🥅🏒 Monday's Matters: Here's a peek at what's happening in the sports betting sphere this week! Catch up on our weekly recap, "Get a Grip," to relive last week's key news.
Tuesday, February 15
Tit for tat: USA vs Canada for the golden glory
Team USA stormed into the women's hockey gold medal match on Monday, trouncing Finland 4-1. In the showdown, the reigning Olympic champions, Team USA, will square off against the formidable Team Canada, who overpowered Switzerland 10-3 on Monday.
These North American rivals have locked horns in five out of the last six Olympic finals. While Team USA emerged victorious in the 2018 Pyeongchang gold medal game, Canada edged out the U.S. 4-2 in a preliminary round skirmish just recently. The odds at BetRivers show Canada as a slight expected winner, with Team USA underdogs.
🇺🇸🇨🇦 Uh oh... It's gonna be a FIGHT for the top spot! #WinterOlympics #WomensHockey #TeamUSA #TeamCanada pic.twitter.com/njtysQfING
- NBC Sports Hockey (@NBCSportsHockey) February 14, 2022
What's brewing in Ohio?
Keep an ear to the ground on Wednesday as the Ohio Casino Control Commission huddles in Columbus. Insiders might glean insights into the timeline of the state's sports betting license application process. During last month's meeting, the commission hinted that legal sports wagering in Ohio will kick off by January 1, 2023. However, no exact date has been set.
The conversation in Arkansas might also heat up this week, with updates on the timing of the state's mobile sports betting launch. Sports betting advocates aim for a launch before March Madness, following the Arkansas Legislative Council's rejection of potential mobile sports betting rules before the Super Bowl.
Maryland is hosting the Sports Wagering Application Review Commission (SWARC)'s virtual meeting on Wednesday. While a specific launch date for Maryland sports betting remains uncertain,Directory of the Maryland Lottery and Gaming Control Agency, John Martin, mentioned in the previous month that there's a realistic chance of a fall 2022 launch.
Thursday, February 17
Shift in gears: DraftKings' Q4 expected to show losses
As sports betting stocks meander near 52-week lows, investors will be glued to DraftKings' Q4 earnings release, scheduled for Thursday morning. Despite DraftKings' stock clinging to lows for the past 12 months, it seems poised for a comeback owing to bullish options action and imminent short covering. DraftKings surged to $24.73 on Friday, its highest weekly level.
DraftKings is projected to earn quarterly revenue of $439.5 million, indicating a year-over-year surge of 36.4%, according to estimates compiled by Zack's Investment Research. However, with spiraling sales and marketing expenses, analysts predict increased EBITDA losses for the sportsbook operator. DraftKings is projected to post an EPS loss of $-0.82 per share, a decline of 18.8% compared to its EPS during the fourth quarter of 2020 as per Zack's.
Draftkings $DKNG up 5.6% at $23.33. Earnings due early Friday. The battle between Ms. Wood and Chanos... continues. #SportsBetting #DraftKings #StockAction pic.twitter.com/AzOJjKHDqG
- Nearing the end (@Trading_Sunset) February 13, 2022
Friday, February 18
NCAA's projected March Madness bracket unveiled
Mark your calendars, as Selection Sunday for the NCAA's Division I Men's college basketball tournament is less than a month away. Over the past few years, the NCAA has released a predicted bracket to provide fans with an idea of where their teams stand before the final weeks of the regular season.
This Saturday, the NCAA will unveil its Top 16 teams in the projected field of 68. Despite a rocky 7-2 start, Gonzaga has reclaimed the top position in the AP rankings during its 14-game winning streak, with nine wins by at least 30 points.
At Caesars Sportsbook, Gonzaga is the favorite to clinch the NCAA title, with odds of +500, followed closely by Auburn (+900), Kentucky (+1000), and Arizona (+1100).
🏀🏀👀🏀 Gonzaga back on top in AP poll after 14-game winning streak. #MarchMadness #CollegeBasketball pic.twitter.com/7F4JR6kT59
- NCAA March Madness (@marchmadness) February 7, 2022
Saturday, February 19
Hamlin sets sights on Daytona 500 dominance
With the Super Bowl behind us, the Super Bowl of auto racing takes center stage. This year is set to unleash the 2022 NASCAR Cup Series, spearheaded by the Daytona 500, the race's most illustrious annual event.
PointsBet has named Denny Hamlin, a three-time Daytona 500 champion and the last winner in 2020, as a slight +900 contender to claim the trophy again. He'll face off against Chase Elliot and Kyle Larson, who both share +1100 odds, in the intense race. Should Hamlin snag victory on Sunday, he'll tie Cale Yarborough for second place in the Daytona 500 victory tally with four wins, trailing only Richard Petty's record of seven victories.
NASCAR Legend - Dale Earnhardt Jr. on FOX Sports: "Crash, nobody should expect anything different because that's what's going to happen at this race!"#Daytona500 #NASCAR #NASCARonFOX pic.twitter.com/7JpFF9RGdn
- FOX Sports (@FOXSports) February 12, 2022
Soaring totals anticipated in NBA All-Star Game
Though Kevin Durant amassed a fierce team lineup during last week's NBA All-Star Draft, he won't be suiting up on Sunday in Cleveland due to a knee injury. The excitement remains for an electrifying casual matchup, with the on-court affair featuring Trae Young and Ja Morant for Team Durant and Curry, Antetokounmpo, and Jokic for Team LeBron. For the third straight time, the game will employ the "Elam Ending" format, where the first team to reach a target score determines the game's winner.
Since the introduction of the Elam Ending format in 2020, the totals in the All-Star Game have surpassed 310 in each of the last two seasons. In seven out of the past eight years, the total has exceeded 300.
- In the women's hockey gold medal match on Tuesday, Team USA, the underdogs according to BetRivers, will face the slightly expected winners, Canada.
- In Ohio, the timeline for the state's sports betting license application process might be revealed during the Ohio Casino Control Commission's meeting on Wednesday.
- DraftKings is projected to post increased EBITDA losses for Q4, despite a potential comeback due to bullish options action and imminent short covering, as indicated by Zack's Investment Research.
- Gonzada is the favorite to win the NCAA title at Caesars Sportsbook, with odds of +500, followed closely by Auburn, Kentucky, and Arizona.
- Denny Hamlin, a three-time Daytona 500 champion, is a slight +900 contender to claim the trophy again, with Chase Elliot and Kyle Larson sharing +1100 odds in the NASCAR Cup Series.
