Category: Sports Betting & Gaming News

49 posts

Hawaii might be looking to bring a sportsbooks to the islands. 33 States have regulated a form of sports betting, and now Hawaii lawmakers are proposing weather or not to join the others and regulate sports betting. The top proposals at this time include a bill to regulate sports wagering on mobile devices and others that permit fantasy sports websites to operate.

iBET ETF Insights: Operators that would land in Hawaii would have a great moat also known as the Pacific Ocean, in terms of loyalty. Fantasy Sports contests like those that DraftKings (DKNG) run are currently illegal, so DraftKings is a definite company that would benefit from this legislation.

Nevada shattered the states record for Super Bowl betting handles. Nevada’s 179 sports books took in $179.8 million in wagers in Super BowlLVI, the previous high was $158.6 million set in 2018.

iBET ETF Insights: Red Rock Resort sportsbook director Chuck Esposito said on the surge in betting.
“Overall, I think the general acceptance of sports wagering is a big part of it,” he said. “The increased volume on both in-play (betting) and props; the continued growth of mobile; the restrictions on masks lifted; the 100 percent occupancy compared to 50 percent last year; and the willingness industry-wide to take higher limits.”

Lawmakers in Missouri push to legalize sports betting. It’s becoming a Sunday ritual for gamblers in Missouri to road trip to Illinois to get their bets in. Unlike regular casino gambling which is legal in both states, Missouri has not yet legalized sports betting. The state rep has introduced a bill that sets $100,000 upfront for licensing and a $50,000 renewal fee every two years, with a 10% tax on profits.

iBET ETF Insights: States are tired of seeing the money move next door, we just saw the impact this had on NY, which is no longer losing revenue to NJ. Penn National Gaming (PENN) would be positively impacted by this as they would add sportsbooks at its Hollywood and River City Casinos in St. Louis County.

WynnBET has now gone live in New York, and is the seventh online sportsbook available for use in the big apple. The sportsbook tested with a soft launch Thursday 2/3/2022 and according to a WynnBET spokesperson, the formal launch was announced Friday morning with regulatory approval already given earlier in the week.

iBET ETF Insights: Wynn was late to the party in NY, but got involved in time to handle wagers on the Super Bowl

Join Our Newsletter

Subscribe to our newsletter and stay updated.
[newsletter_signup_form id=1]