iBET ETF Insights: With 30+ states allowing sports betting, the AGA (American Gaming Association) predicts 45 million adults to wager on March Madness. With an estimated $3.1 billion to be wagered on the games. AGA also predicts that 76% of that will be placed outside of brackets on individual games/prop bets. 29 million more Americans […]
Category: Sports Betting & Gaming News
New York open to expansion of Sports Betting LicensesNew York open to expansion of Sports Betting Licenses
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iBET ETF Insights: The New York legislature revealed their budget proposals for sports betting and gambling regulation. Lawmakers will now work to determine if downstate casinos will be expedited and if they can add additional sports betting licenses. Lawmakers are required to pass the budget by April 1. Assembly Speaker Carl Heastie said “By and […]
Churchill Downs Abandons Online Sports Betting, stock up more than 10% on EarningsChurchill Downs Abandons Online Sports Betting, stock up more than 10% on Earnings
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iBET ETF Insights: During a conference call to report 4th quarter results, Churchill Downs officials said the company will discontinue its online sports betting and internet gaming operations. However, Churchill Downs will still offer retail, and brick-and-mortar sportsbooks. Churchill Downs CEO Bill Carstanjen said, “continued efforts in online sports betting and iGaming by the company […]
Caesars Sportsbook pulling back from advertisementCaesars Sportsbook pulling back from advertisement
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iBET ETF Insights: Caesars executives have stated that they will pull back from advertising and look more toward profitability. CEO Tom Reeg said, “You’re going to see our commercials largely disappear from your screens.” they still have some March Madness slots they could not get out of. Reeg also stated, “We have accomplished what we […]
Bill announced to legalize sports betting in KentuckyBill announced to legalize sports betting in Kentucky
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iBET ETF Insights: Bill makers in Kentucky are taking another shot at passing a proposal for legal sports betting, adding a package of gambling-related measures that will hopefully finally allow for legalization. Supporters of the previous bill estimated that legalization would bring in about $22 million in yearly revenue. The bill brought forward Monday looks […]