Day: March 28, 2022

7 posts

News – Maine Sports betting proposal passes committee vote

iBET ETF Insights: A proposal from Gov. Janet Mills to legalize sports betting has passed the committee vote and is headed for the full Legislature in Maine. The Committee passed the bill with a divided vote, with several members saying they could support the bill with additional changes.

News – Kansas looking to legalize sports betting once again

iBET ETF Insights: Senator Rob Olson introduced a new bill, adding legalized sports betting to the Kansas Lottery Tax Act. “Everyone’s just going be doing it anyways. People still do it right now. If you were putting that money out-of-state illegally, why not make it legal and pump that money into the infrastructure and state economy,” said one sports better. That’s the logic and the reasoning as to why most states will legalize sports betting.

News – March Madness Sports Betting Numbers

iBET ETF Insights:  The American Gaming Association, estimates 45 million Americans will wager $3.1 billion on the tournament, and around 36.5 million will bet something on a bracket or office pool. The numbers here are extremely conservative, we should have totals towards the end of the month. All we have seen are record breaking numbers, expect more of the same. With all the upsets so far, the house is winning.

News – DraftKings CEO says people selling his company stock will regret that decision

iBET ETF Insights: DraftKings is down over 43% over the past three months, and 72% during the past 12 months. Jason Robins CEO vows that people who are selling his company’s stock will “regret that decision” he wrote on twitter, “If you sold #DKNG today, just be aware that my team and I are on a mission to make you regret that decision more than any other decision you’ve ever made in your life.” Robins has an optimistic long term approach on his sports betting and fantasy sports company. During the company’s last earnings call, Robins pushed for more states such as California to legalize sports betting, the company is hoping for Nationwide legalization as soon as possible.

News – Sports betting push continues in Missouri

iBET ETF Insights: The plan to legalize sports betting in Missouri has advanced to the House. The recent push has been backed by the St. Louis Cardinals, St. Louis Blues, and the St. Louis City soccer club. These teams are looking to build a brick-and-mortar location at their fields to allow bettors to wager at the game. In the past the bill has fallen short, not receiving enough votes, however this year it received a 4-2 vote. The proposal has been put on fast track since January, when Missouri’s pro teams and gambling casinos reached an agreement to lobby together.

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