Category: Sports Betting News

With Sports Betting now legal in the United States, a potential sports gambling revolution has been triggered and it is anticipated that by the year 2022, sports fans around the globe will be betting an amount of $1 trillion online each year.

One of the largest casino operators in the United States, Boyd Gaming, has 29 gaming properties in ten states and is currently positioning itself to be a major player in the sports gambling sector.

Boyd Gaming has enjoyed some special experiences in the Vegas Strip and has handled the biggest sportsbooks in Las Vegas over the past ten years.  The company is getting ready to branch out into a number of other regional markets now that sports betting is legal.

The company recently entered into an agreement with MGM Resorts, the casino chain that is endeavoring to corner the sports betting market.  Boyd Gaming and MGM Resorts have come to an agreement that will see them sharing online and mobile gaming apps for Boyd’s sportsbook in 15 states.  This is an unparalleled agreement that could be the start of a sports gambling empire, managed by Boyd Gaming and MGM.

Boyd Gaming has rolled out a new sports betting app, BConnected, in three casinos and has entered into a deal with FanDuel in terms of which it has leased out its gaming properties for FanDuel’s mobile and online sports betting platform.  This deal builds off of the company’s deal with MGM and covers all the states where Boyd Gaming holds gaming licenses, with the exception of Nevada.

New York is yet to move into legalized sports betting, but that has not stopped companies and entertainment franchises from rushing to do all that they can to get ready to enter the market when legislation changes. That is because the Empire State has made it clear that it will focus on bringing legal and regulated sports betting to citizens this year.

This week, it was reported that the parent company of Madison Square Gardens is making plans to possibly enter the sports betting market, by applying to trademark its brand for sports betting reasons.

The company, which operates the New York based-Madison Square Gardens stadium, as well as other entertainment venues in London, Las Vegas and Los Angeles, filed an application with the United States Patent and Trademark Office. The group requested a trademark for the use of the MSG brand across all platforms, including mobile, online and on social media. Further, the group requested a trademark for downloadable mobile applications for sports betting, the organization of sports betting tournaments and information that relates to sports betting competitions.

In its trademark application, MSG also asks to be covered for fantasy sports competition online, and for the provision of sports news, video clips, web cam feeds and more.

A spokesperson for MSG said: “We have said we’re very interested in the opportunities legalized sports gaming could bring, and recognize that we have a brand, in MSG, that is recognizable around the world for its connection to iconic sports.”

With New York legislators announcing that they are making legal sports betting a priority in the state this year, many locations are getting ready to grab a piece of this very lucrative pie. Media outlets report that Madison Square Garden (the company and the arena) is getting ready to enter the sports betting space as soon as it becomes legal and regulated in the Empire State.

According to The Action Network, the company filed MSG as a trademark in “downloadable mobile applications for sports wagering, for organizing, arranging, conducting, and participating in sports wagering tournaments, for providing information related to sports betting.”

The trademark was filed with the intention to use the MSG brand for “interactive peer-to-peer gambling competitions and tournaments.”

It is expected that New York will be one of the first states to legalize sports betting this year. Madison Square Gardens is not the first stadium or sports team to prepare for legal sports betting.

A spokesperson for the company said: “We have said we’re very interested in the opportunities legalized sports gaming could bring and recognize that we have a brand, in MSG that is recognizable around the world for its connection to iconic sports.”

A trademark lawyer has commented that the paperwork signed by MSG shows that the company has a “bona fide intent” to use the trademark for the goods and services it will supply, and it was not just taken out as a precautionary measure as suggested by others.

North Dakota has introduced two separate bills in a bid to bring legal and regulated sports betting to the state.  House Bill 1254 and House Bill 1295 are almost a carbon copy of one another; the only difference being that HB 1295 also bans betting on amateur sports.

At present, the bills fit in with North Dakota’s current gambling framework that betting can only take place at tribal facilities or via charitable organizations; however legislators are also contemplating a change to the state amendment allowing gambling at other facilities. For this to happen, state residents need to vote on a change to the amendment in the 2020 ballot elections. As such, North Dakota is not likely to see broad changes to its gambling framework until 2021 at the earliest.

A point in favor of both these sports betting bills is that Governor Dough Brown has said that he will not fight sports betting legislation, should and if it lands on his desk.

North Dakota was not one of the states that analysts expected to see introduce sports betting this year, and they admit that it could be a struggle for the two house bills to advance. On the other hand, the state may start to feel the pressure from the competition generated by its neighbors. Both South Dakota and Minnesota will take up sports betting bills this month, which could lead to sports betting options in the Upper Midwest.

Last year, Pennsylvania passed a gambling reform package whereby the state’s gambling industry would undergo major expansion. One of the sectors which saw legalization was sports betting. In November this year, the Hollywood Casino at Penn National Race Course became the first to start offering sports wagering in the newly regulated industry.

Last week, the Pennsylvania Gaming Control Board posted its first report which covers November 15th to November 30th. The regulator’s aim is to issue monthly reports on the sector. The November report only takes into account revenue brought in by Hollywood Casino since it was the only facility to offer sports wagering during that period. This month, another two facilities, the SugarHouse Casino in Philadelphia and the Rivers Casino in Pittsburgh, also started offering sports wagers and their numbers will be included in next month’s report.

So how did sports betting fare according to the numbers released in Pennsylvania’s debut report on the sector?

  • It was shown that Hollywood Casino handled $1,414,596.55 in sports wagers during the 16-day period.
  • After payouts were made by the casino, the adjusted gross was just over $508,000.
  • Sports betting brought in $183,000 in taxes for the state (calculated at 34% of the adjusted gross income).

Since the inception of Pennsylvania’s gambling expansion legislation, the state has recorded a total of $400 million that was funneled to state coffers from the industry .