Sports Betting

Bettors Turn to Belarusian Soccer and Reality TV With Peer-to-Peer Apps

  • Operators are limited in what they can offer based on regulatory bodies.
  • Peer-to-peer options allow more flexibility in how and what to bet.

Obscure leagues and sports are seeing an uptick in attention in the sports world, but there are challenges in offering more for eager bettors. Major sports betting operators are at the mercy of regulators, which have tight restrictions, while other, more nimble operators are finding a way to make some positives in an otherwise hectic time.  PointsBet – which operates in New Jersey, Indiana, and Iowa – is still offering Belarusian soccer, UFC, NFL free agency prop bets, and futures, […]

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Sports Betting Short Term Pain Could Be Long Term Gain

  • March Madness-related losses could range into billions for sportsbooks.
  • With the nationwide sports betting industry still new and growing, the focus on the future could be positive.

With the sports world on hold, sports betting companies are also effectively hitting pause.  March Madness is one of the biggest sports betting events in the U.S., and its cancellation could cause Las Vegas to lose millions. Last March’s handle topped more than $600 million. Catena Media Head of U.S. Content Dustin Gouker said March Madness is often near or greater than Super Bowl for sportsbooks. This year, the reported Super Bowl handle neared $270 million, with Nevada accepting $154.7 […]

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NASCAR

NASCAR Turns To Free-To-Play Betting Game To Drive Casual Fan Interest

  • Free-to-play game with $50,000 jackpot to debut before Daytona 500.
  • Partnership is Penn National’s first with a pro sports league.

Aiming to use sports betting as a way to better engage fans on race days, NASCAR is moving things to the next gear. NASCAR is launching, with new partner Penn National Gaming, an official free-to-play mobile game with a jackpot attached. This may just be the first of several forms the way that NASCAR’s sports betting approach comes to life, Scott Warfield, NASCAR Managing Director of Gaming said.  “They were the best first partner to develop something custom with,” Warfield […]

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XFL gaming partnerships

Betting Companies Embrace XFL Opportunity Despite Uncertainty

  • VSiN to offer game broadcast focused on betting via iHeartRadio.
  • ”Our strategy is to embrace the spread,” XFL President says.

As the XFL gets off the ground, sports betting entities are looking for their opportunities around the new league. Online gaming companies FanDuel and DraftKings have entered into partnerships with the fledgling league, while a three-way deal between the XFL, iHeartRadio, and sports betting media company VSiN will create live BetCasts that cover the game from a betting perspective. With a lack of gameplay and roster history, sportsbooks have expressed doubt and uncertainty surrounding XFL betting. Meanwhile, the league and […]

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Betting on Legalized Sports Gambling: The Millennial Challenge

(L.E.K. Consulting is a proud partner of Front Office Sports) Previously, L.E.K. Consulting considered the recent Supreme Court decision to abolish the long-held Professional and Amateur Sports Protection Act, in effect paving the way for legalized sports gambling throughout the U.S. While the move is likely to boost sports engagement in the main, reaching younger, less sports-oriented consumers may prove more challenging for sports industry stakeholders. That being said, opportunity still knocks. Though they account for more than one-fourth of […]

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Betting on Legalized Sports Gambling: Opportunities and Obstacles

(L.E.K. Consulting is a proud partner of Front Office Sports) Sports industry stakeholders acknowledge the potential to drive greater sports engagement through recently legalized betting in the U.S. The trick, of course, is understanding which strategies are most likely to resonate with consumers over the long haul. In this article, consider the appeal of legalized gambling to sports fans and how it could conceivably boost sports interest in general, and among finicky millennials in particular. Before becoming a multimillionaire in […]

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sports betting landscape

Bettman, Sports Betting Execs Say Landscape Still Developing

  • Since the PAPSA repeal in 2018, more than $11 billion has been wagered on sports. That could rise to $216 billion by 2025.
  • Currently, partnerships between sports entities and betting partners are establishing trust and legitimacy.
  • “There’s a lot of stuff we haven’t thought about," William Hill CEO Joe Asher.

The landscape of sports betting is still in the first period. That was the overwhelming sentiment this week at the American Gaming Association’s Global Gaming Expo in 2019. Drawing from a panel called “Executive Viewpoints” featuring NHL Commissioner Gary Bettman, FanDuel CEO Matthew King, William Hill U.S. CEO Joe Asher and Rush Street Gaming CEO Greg Carlin, it was clear the gambling and sports industries are still feeling each other out. A clear theme of the discussion was that all […]

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Shot Callers: Keith Wachtel, Chief Business Officer, NHL

The National Hockey League, like many of America’s professional sports leagues, is adapting to the growing legalization of sports betting in the United States. With teams in Las Vegas and New Jersey, the league is in a unique position to be on the forefront of this phenomenon. In the latest episode of Shot Callers, FOS Editor Ian Thomas chats with the NHL’s Keith Wachtel about the league’s approach to the sports betting space and the new opportunities it presents in […]

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Shot Callers: Scott Warfield, Managing Director of Gaming, NASCAR

With the legalization of sports betting across the United States continually growing, many professional leagues and teams are taking matters into their own hands. Auto racing giant NASCAR is no exception. FOS Editor Ian Thomas spoke with Scott Warfield of NASCAR about the company’s approach to the sports betting space, which has been several years in the making. Edited highlights appear below: On how NASCAR set up their current system and protocols to let fans bet on races (0:58) Warfield: […]

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betting-kentucky-derby-tax-law

Betting on the Kentucky Derby, Tax Law, and You

(*Citrin Cooperman is a proud partner of Front Office Sports) In 2018, $149.9 million was bet on the Kentucky Derby. Churchill Downs officials expect that number to increase even more at the 145th running of the race on Saturday. While it’s easy to forget, betters who win big this weekend don’t just get that money with no strings attached. In the U.S., gambling winnings are taxable as ordinary income irrespective of how much a person wins. Gambling winnings are legally […]

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