Category: Sports Betting News

The National Association for Stock Car Racing (NASCAR) announced the launch of in-race betting recently, at the first race of the NASCAR Cup playoffs that was held in Las Vegas. 

Bettors were able to place wagers during the actual race in Las Vegas for the first time as well as in casinos in three other states.

In partnership with NASCAR’s betting provider Genius Sports, players will be offered the opportunity to place wagers after the starting flag on stage winners and the final race winner in Las Vegas, or at the Resorts World Catskills Casino in New York, the Q Casino in Iowa as well as the Pearl River Casino in Mississippi.

Scott Warfield, the Managing Director of Gaming at NASCAR, commented on the launch by saying that he felt that the launch at a limited number of sportsbooks to start with will give NASCAR the information it needs to perfect its in-race model in time for its signature event, the Daytona 500 in February 2020.

Warfield went on to say that using this playoff stretch until mid-November with just a few sportsbooks located all around the country is a great opportunity for them to build more information as they launch more fully in 2020 for the Daytona 500.

He also said that they will take a lot of the feedback, research and data and they will continue to fine tune the product and that is why having a partner like Genius Sports is key because they can adapt and evolve as demand changed.

Gaming Innovation Group Inc. (GIG), has announced that it has entered into an agreement with its partner, Hard Rock International (Hard Rock) that will see it support its market entry with sports betting in the US state of Iowa.

GIG’s land-based sportsbook will at first be launched in the Hard Rock Hotel and Casino Sioux City and will thereafter be followed by online and mobile sports betting in the fourth quarter of this year.

Although GIG does not expect the extension to have any impact on its revenue for this year, it predicts that growth from the launch of online and mobile betting will be seen in 2020.

Initially, GIG entered into a US sports betting agreement with Hard Rock in October 2018 and launched its land-based sportsbook in New Jersey at the beginning of this year.

Senior Vice President of Online Gaming at Hard Rock International, Kresimir Spajic, commented that they are excited to extend their partnership with GIG to support sports betting in Iowa, and further grow their sportsbook portfolio.

Jim Franke, General Manager of Hard Rock Hotel & Casino Sioux City, said that offering sports betting through GIG provides their players and guests with a new level of engagement and they could not be more thrilled to launch today.

Richard Brown, acting Chief Executive Officer of GIG said that after a successful launch in New Jersey, he is delighted to further deepen the relationship with Hard Rock, delivering on their strategy to grow with their partner by entering a new state in the US with their sportsbook.

Brown added that they have mutual ambitions to entertain consumers with a safe and exciting first-class sports betting experience.

IMG ARENA, a London-based sports betting service and content hub, has entered into a multi-sport, portfolio-spanning partnership with SG Digital, a division of Scientific Games.

The partnership will see SG Digital’s OpenSports platform become the first partner of IMG ARENA’s Golf Event Centre, a provider of comprehensive shot-by-shot data, live streaming as well as interactive course visualizations from the PGA Tour and the European Tour from January 2020.  The events center will alter how fans interact with the sport from a viewing as well as a betting perspective.

Keith O’Loughlin, SG Digital Sportsbook Senior Vice President, commented that IMG ARENA has created a betting proposition for golf that befits its position as one of the world’s most popular global sports.  He added that the Golf Event Center brings a new level of immersion and engagement that will positively shake up the live betting experience and the industry as a whole.

O’Loughlin went on to say that they are excited to add it to OpenSports and continue building on their sports betting technology to bring betters a well-rounded and content-packed experience.  He also said that they are thrilled to enable all their customers to be early adopters of this game-changing betting solution and look forward to further collaboration with the IMG ARENA team.

Freddie Longe, IMG ARENA Senior Vice President said that SG Digital has a reputation for innovation, and they are delighted to be working with them to deliver their shared goal of evolving how fans engage with sport.

Longe also said that incorporating their official content within the OpenSport ecosystem will provide many of their major UK, European and US sportsbook customers with seamless access to their full suite of products, including the Golf Event Centre. 

The National Collegiate Athletic Association (or NCAA) has asked for assistance from senators in Washington to help push for federal sports betting legislation. Senator Mitt Romney (R-Utah) and Senator Chuck Schumer have both committed to helping the NCAA and have said that they will be drafting a federal sports betting bill together.

This is not the first time that efforts have been made to introduce federal sports betting legislation. In December last year, the Sports Wagering Market Integrity Act was introduced by Chuck Schumer and Orrin Hatch, but failed to move very far.

The NCAA has said more than once, that it wants to push for federal sports betting legislation that would ban betting on collegiate sports.

In a report by ESPN, the vice president of hearing operations for NCAA, Naima Stevenson Starks, was quoted as saying: “We are absolutely supportive of federal regulation It’s fairly daunting to think that every state would have a different set of regulations. Having some minimum standards, we are very supportive of and have been an active proponent of.”

Starks said that the landmark ruling by the Supreme Court last year to allow each state to decide on its own industry, made it challenging to create a carve-out of college athletics.

“Whether or not that would be something that the federal legislation that’s being proposed would do, given that states are already doing it, I think that might be a challenge for the bill potentially get passed, which is the ultimate goal,” she added.

While other states are reaping the benefits of legal sports betting industries, Michigan continues to lag behind. The state is still trying to jump start efforts to introduce a bill that will see the legalization and regulation sports betting, and where all stakeholders will be in agreement.  So far, seven drafts have been submitted and have failed.

On Wednesday, Rep. Brandt Iden, who held up the industry back in March as he couldn’t get the three commercial casinos and 26 tribal casinos to agree with his igaming package, introduced new legislation.  Iden’s bill, while six months later than planned, seems to have everyone on board. However, the next potential hurdle is the state Governor.

The eighth draft removes the right of licensed operators to run skins. Previous drafts allowed for up to three per operator; Iden’s new bill restricts each operator to just one platform.

Operators will pay $200K for a sports betting license, which will need to be renewed each year at a cost of $100,000.

Gross sports betting revenue will be taxed at 8%.

Within a year, the Michigan Division of Sports Betting needs to establish all the rules pertaining to the new industry. Once the bill passes, it will take another 3 months until it becomes law.

$1 million each year needs to be earmarked for problem gambling prevention and treatment.