Uncategorized Archives - National Football Post

MGM, Caesars Among Founding Members of Sports Betting Integrity Monitoring Group

Posted on 27 November 2018 | by Jill Dorson

MGM and Caesars are among the members of a new not-for-profit that will monitor integrity in sports betting. The organization, the Sports Wagering Integrity Monitoring Association, will bring together key gaming stakeholders, including state and tribal regulatory bodies, federal, state and tribal law enforcement, in an effort to uncover and prevent fraud and other illegal activities related to sports betting and sporting events.

The group is modeled after the Europe Sport Security Association which monitors sports betting and sports events for fraud. 888Sport, PaddyPower/BetFair and William Hill are among ESSA’s members. According to SportTechie.com, ESSA was involved in the creation of SWIMA and the two organizations plan to work together to monitor integrity.

Delaware Sees Slight Dip in Betting Handle for October

Posted on 19 November 2018 | by Jill Dorson

In October, Delaware’s total sports betting handle dropped almost $2 million, from $16,830,010 in September to $14,738,223, according to the latest report from the Delaware Lottery. But that $14.7 million September handle is the second biggest since the First State became the first state outside Nevada to offer full-fledged, legal sports betting in June.

Previously the state offered parlay wagering on NFL contests only, an offering that was “grandfathered” in under the 1992 federal law ruled unconstitutional by the Supreme Court in May. That law had banned full-fledged sports betting outside Nevada.

Delaware Park, located less than an hour from Philadelphia, remained the busiest sportsbook. Bettors placing $10.6 million in wagers there, compared to the $2.2 million handle at Dover Downs and $1.9 million at Harrington Raceway.

PA Sports Betting License Applications Keep Rolling In

Posted on 15 November 2018 | by Jill Dorson

The Pennsylvania Gaming Control Board received its sixth application for a sports betting license when the Valley Forge Casino Resort filed paperwork on Wednesday. Owned by Boyd Gaming, the sportsbook will be run by FanDuel, which also partnered with Boyd Gaming for “sports betting and online gaming opportunities across the United States,” in August. FanDuel also runs the sportsbooks at two Boyd Gaming facilities in Mississippi, the IP Casino Resort Spa in Biloxi, and Sam’s Town Hotel & Gambling Hall in Tunica.

The PGCB says there is no set timetable for approving the application. The board’s next regularly scheduled meeting is Nov. 28, which likely is too soon for the application to be considered. It’s more likely to be on the agenda for one of the December meeting dates.

Five casinos have already been approved for sports betting licenses in Pennsylvania, and in each of those cases, it took a minimum of 5 1/2 weeks between the date of application and board approval. None of the casinos have opened sportsbooks to date.

New Jersey Adds Additional 1.25% Tax on Sports Betting Revenue

Posted on 10 October 2018 | by Jill Dorson

Less than five months after New Jersey won the Supreme Court battle that allowed its casinos to offer sports betting, taxes are going up. According to the Press of Atlantic City, Governor Phil Murphy signed off on a 1.25 percent sports betting tax increase last week to benefit the state’s ailing Casino Reinvestment Development Agency. That brings the tax on net sports betting revenue to 9.75 percent at brick-and-mortar sports books and 13 percent on mobile and online sports betting.

For comparison, Nevada taxes its sports betting revenue at 6.75 percent, West Virginia at 10 percent and Mississippi at 12 percent. Sportsbooks haven’t opened in Pennsylvania yet, but the rate there will be 36 percent, while Delaware and Rhode Island (which expects to open for sports betting next month) effectively pay more a more than 50 percent tax rate under partnership programs with their state governments.

The CRDA will earmark the funds for “marketing and promotion.” According to the Press of Atlantic City, the additional tax from casino sportsbooks will be used to market Atlantic City specifically while the additional tax revenue generated from Monmouth Park and the Meadowlands Racetrack will be funneled directly to the towns in which the tracks are located.

PGCB Grants Hollywood, Parx Casinos PA Sports Betting Licenses

Posted on 3 October 2018 | by Jill Dorson

The Pennsylvania Gaming Control Board unanimously approved sports betting petitions for Mountainview Thoroughbred Racing (Hollywood Casino) and Greenwood Gaming (Parx Casino and South Philadelphia Turf Club) at its regular meeting Wednesday morning, paving the way for sports betting to go live in the state as early as November.

Greenwood Gaming, which owns the Parx Casino and the South Philadelphia Turf Club, is targeting November to roll out sports betting at its facilities while Mountainview representatives were less specific, and aiming for a rollout later this year.

The PGCB held hearings prior to voting and, in general, things went smoothly. Both companies reviewed their history and experience in sports betting and shared plans for what their sportsbooks will look like (more below). In addition, both groups discussed their desire to roll out mobile and internet sports betting sooner than later, though neither will do so for their initial launch.

Kentucky Lawmakers Begin Education on Sports Betting

Posted on 30 August 2018 | by Jill Dorson

Kentucky lawmakers on Thursday got a primer on sports betting when staff members presented a detailed look at sports betting to the Interim Joint Committee on Appropriations and Revenue.

The presentation likely created more questions than answers, but it was a significant step for the Kentucky lawmakers who are pushing for legal sports betting. Kentucky’s state legislature is not currently in session, but interim joint committees keep the legislative process moving through the summer months. By opening the sports betting discussion on a formal level, the interim committee can help the standing committees it supports in both chambers to hit the ground running when the new legislative session begins in January. Senate Appropriations and Revenue chairman Christian McDaniel (R-District 23) requested the presentation to give committee members and overview of the sports betting issue.

The presentation lasted about a half hour and included:

An explanation of what the Professional and Amateur Sports Protection Act was;
A primer on the and the Supreme Court case Murphy vs. NCAA;
The possibility of a federal framework;
A brief look at how Nevada manages sports betting, it’s tax structure and revenue;
A look at the “integrity fee” or royalty that the professional sports leagues have been lobbying for;
Whether or not the Kentucky constitution allows for sports betting and possible ways to make sports betting legal (i.e. is a constitutional amendment required?); and
Who would oversee sports betting in the Bluegrass State.

KY Sports Betting Working Group Has Been Laying the Groundwork for Legal KY Sports Betting.

A nine-member “working group” of Kentucky legislators has been meeting through the summer to build a consensus on sports betting. The group has met twice and has reached two key decisions: Kentucky should tax net revenue, not handle, and the group does not endorse the integrity fee that the professional leagues have been lobbying for.

It’s unlikely that the bill that the working group files will include the fee. No state that has legalized sports betting since PASPA was struck down includes a royalty, and the only state that seems to be seriously discussing such a fee is New York.

See what State Senator Julian Carroll thinks about the bill by visiting SportsHandle using the link below:

https://sportshandle.com/kentucky-lawmakers-begin-education-on-sports-betting/