Under the deal, PrizePicks will serve as an official fantasy sports partner of the stock car racing organization, which is celebrating its 75th season this year. The partnership officially begins this weekend at one of the sanctioning body’s biggest events, the Geico 500 at Talladega Superspeedway in Alabama.

“We’ve always taken great pride in the fact that a great deal of our marketing and partnerships remain true to our southern roots,” said PrizePicks Cofounder & CEO Adam Wexler in a statement. “Working with NASCAR is the best of all worlds, an organization based in the South with a national footprint that is consistently growing on our platform.”

Busy Time for PrizePicks

The NASCAR deal is the third signed by PrizePicks in roughly a month. The daily fantasy operator has also secured deals with Atlanta United of the MLS and MLB’s Atlanta Braves. Previously, the company has had deals with the Atlanta Falcons and Miami Marlins.

The newest arrangement also comes as PrizePicks sees a significant uptick in fantasy players using NASCAR drivers in their entry forms. According to the company’s release, there has been a 400% increase in players picking drivers over the past year.

PrizePicks has consistently shown itself to be a fantasy platform with a loyal fanbase and wide variety of sports offerings,” said Joe Solosky, NASCAR managing director of sports betting. “This partnership is an opportunity for both organizations to expand and increase engagement with new and existing fans.”

NASCAR, too, is seeing increased engagement online. So far this year, its digital platform has registered 65 million visits, up 7% over the same span from last year.

About PrizePicks

PrizePicks offers daily fantasy sports games. The concept is similar to parlay wagers offered by sportsbooks, with a few differences. Players pick between two and six athletes and a statistic for each athlete – such as starting position in a NASCAR race – and whether the athlete’s performance will be better or worse than a set benchmark. Also, a player’s entry must include athletes from at least two teams.

All major league sports are available on PrizePicks, and there are esports options, such as Call of Duty and League of Legends. Entries can include picks from multiple leagues.

PrizePicks’ offerings are currently available in 30 states, including several like California, Florida, and Texas, where sports betting is currently not allowed. PrizePicks also operates in Canada in all provinces and territories outside of Ontario.

The post PrizePicks Becomes an Official Fantasy Sports Operator for NASCAR appeared first on Casino.org.

The OCCC formally signed off on the deal at Wednesday’s meeting in Columbus. It comes four months after commission officials announced they would move to reject PlayUp’s application for a sports betting license after staff determined the company conducted illegal online gaming in the state through a third-party offering called Play+.

PlayUp initially requested a hearing regarding the denial, but talks with state officials, including the state attorney general’s office, led to the settlement instead.

PlayUp also agreed to reimburse Ohioans who experienced losses on the slot-like game it operated in the state. Andromeda Morrison, the commission’s general counsel and director of skill games, said that amount would be about $30K. The company will also pay a $90K fine to the state, she added.

PlayUp Agrees to Longer Ban

The settlement also includes a stipulation that PlayUp will contact the OCCC at least 90 days in advance if it were to submit a license application after the four-year ban concludes. That 90-day window would allow officials to review any product the operator wants to offer in Ohio, Morrison said.

Commissioner Lynn Slaby asked about the significance of a four-year ban. Morrison explained that had the commission denied the license application, PlayUp would have been prohibited from reapplying for three years.

Through the adoption of the settlement agreement, the state is getting a longer period of time in which this particular company agrees to not pursue licensure,” she told the commissioners.

PlayUp was supposed to be an online provider for JACK Entertainment.

Officials from neither JACK nor PlayUp immediately responded to requests for comment after Wednesday’s meeting.

About the Violations

According to the settlement agreement, Slots+ offered online slots, scratch-offs, virtual sports and other games in violation of state gaming laws. In addition, the OCCC alleged PlayUp “engaged in false, deceptive, misleading, or otherwise impermissible advertising,” actions that also broke state laws.

Slots+ began operating in Ohio in June 2021, the agreement stated.

While PlayUp admitted to the violations, the company said it worked “diligently and candidly” to adhere to the OCCC’s cease-and-desist order last December in shutting down Slots+. It also said that the company has established new guidelines to reduce the chances of a similar issue happening again.

“The decision to offer the Slots+ product was made by an executive that is no longer with PlayUp,” the agreement stated as part of PlayUp’s response.

The executive was not named in the agreement.

According to the order, the OCCC considers the case “administratively closed” and makes no formal findings related to the allegations that led to the agreement. While the commission would not use the Slots+ violations as the “basis for future action,” its staff still retains the power to investigate the company if any new violations take place.

PlayUp’s Troubles

PlayUp has faced a number of issues over the last 18 months as it has tried to expand in the US. That includes suing Dr. Laila Mintas, its former US CEO, who responded with a countersuit. The suits stemmed from a deal that would have let FTX, the now-bankrupt cryptocurrency exchange whose former CEO faces federal fraud charges, purchase PlayU for $450 million. However, that deal fell through.

In September, PlayUp announced plans to become a public company through a $350 million merger with a special purpose acquisition company (SPAC), but that, too, fell apart after IG Acquisition Corp. claimed in January that PlayUp did not provide audited financial statements in a timely manner.

The post PlayUp Settles Ohio Case, Agrees to Pay $120K, Won’t Pursue License There for Four Years appeared first on Casino.org.

According to a Betr release, the Cavinder twins will “be foundational on-camera talent” and develop “female-centric sports content” for the $50 million company founded by Joey Levy and Jake Paul last August. Terms weren’t disclosed, but the deal will make the former Fresno State and Miami (Fla.) hoopsters equity partners.

Betr gives us the ability to accelerate the growth of The Cavinder Twins brand in a focused and truly authentic manner,” Haley and Hanna Cavinder said in a statement. “We love sports, thrive on competition, and enjoy creating and bringing ideas to life. Betr truly makes The Cavinder Twins and our brand that much better and bigger.”

The sisters transferred to Miami last year and reportedly received $2 million from name-image-likeness deals. They helped the Hurricanes reach the Elite Eight in the NCAA Women’s Tournament for the first time in a run that included upsetting No. 1 seed Indiana on its home court.

The Cavinders could have played college basketball next season because the NCAA granted athletes an extra year of eligibility if they played during the 2020-21 COVID-shortened season. They chose to forego that option and focus on “a new chapter,” according to a statement they released a week ago.

Cavinder Twins Followed by Millions

The Cavinder twins will bring their podcast “Twin Talk” to Betr’s content lineup as part of the deal.

They will join an outfit with more than a million followers and reached 800 million views and 50 million engagements across its social media platforms over the last eight months.

The sisters’ TikTok account has 4.5 million followers and 140.5 million likes. Each sister also has an individual Instagram account, with both audiences exceeding 650K followers.

Levy, Betr’s CEO and co-founder, said the site is striving to become the leading landing spot for original content creators and that the twins are “just scratching the surface” of what they can do.

Betr can and will leverage the rapidly growing Jake Paul and Betr Media audiences to make emerging talent even more famous than they already are … Betr Media’s objective is to attract, enhance, and amplify the next wave of generational content creators, and this partnership is a testament to that approach,” Levy said. “Our talent flywheel is continuing to get stronger, and we are just getting started.”

Darren Heitner, a sports business attorney representing the twins, said in a statement that both Betr and the Cavinder twins will benefit from the partnership.

“It is a perfect fit for the twins to be a part of a quickly expanding media empire,” he said. “A real win-win and a massive opportunity for Haley and Hanna to further their global reach after basketball.”

Growing Interest in Women’s Sports

Betr’s deal with the Cavinder twins comes as more sports fans follow women’s sports. The NCAA Tournament featured record ratings, with nearly 10 million watching the championship between LSU and Iowa. Millions more watched games in the earlier rounds, with those contests drawing audiences that exceeded viewership totals for NBA, NHL, and MLB telecasts.

Last week, Gaming Society, an emerging company co-founded by NBA star Kevin Garnett seeking to better educate sports fans about gambling, announced a deal with NBC Sports to help increase editorial coverage of women’s sports.

“Awareness and excitement around women’s sports continues to grow, making the need for betting education and access to betting lines and opportunities greater than ever,” says Gaming Society co-founder and CEO Jaymee Messler. “Legalized sports wagering has proven to be a driver for engagement across sports, and we look forward to working with NBC Sports to showcase the wide array of voices and storylines in women’s sports while also empowering the next generation of women athletes.”

The post Betr Signs the Cavinder Twins, Basketball and Social Media Stars, as Content Creators, Equity Partners appeared first on Casino.org.

Chairman Jonathan Rabinowitz’s comments at the start of the commission’s meeting were his first since the General Assembly passed House Bill 551 three weeks ago on the legislature’s final day in session. A spokesperson for the agency told Casino.org last week that officials would not be available for interviews for the time being.

Rabinowitz thanked lawmakers for passing the bill sponsored by state Rep. Michael Meredith (R-Oakland) and Gov. Andy Beshear (D) for signing it into law.

The bill assigns the KHRC responsibilities to regulate and license operators. It also calls on the agency to have regulations in place to allow operators to accept wagers within six months of the law’s official enactment date in late June.

The commission, along with members of the Public Protection Cabinet, have begun the process of drafting proposed regulations, meeting with officials in other states that recently have legalized sports wagering, and working with our licensed associations and potential service providers,” the chairman said. “The commission is excited for the opportunity afforded to it and are and will work tirelessly to craft clear, responsible, and thorough regulations for sports wagering in the commonwealth.”

Rabinowitz did not provide a date for when sportsbooks may open in the state, but his remarks confirm that Kentucky is taking a proactive approach and not waiting until June to start work.

Before Tuesday, Senate Majority Floor Leader Damon Thayer (R-Georgetown) said the chairman told him the hope was to have either online or retail sports betting operational for football season. Beshear earlier this month said New Jersey Gov. Phil Murphy (D) offered technical assistance during the implementation period.

Kentucky Sports Betting Details

The sports betting law allows the state’s nine racetracks to host in-person retail sportsbooks at their establishments, including the tracks and their satellite facilities across the state. Each track can also partner with up to three online operators.

While most states that have legalized sports betting have casinos that host and partner with sportsbooks, Kentucky does not have casinos in the traditional sense.

Tracks have been allowed to offer historical horse racing (HHR) onsite and at satellite facilities for over a decade. HHR machines look like Vegas-style slot machines, but wagers’ outcome is determined by a series of previously run races rather than a random number generator.

Through February, the five tracks and four satellite facilities currently open host nearly 7,000 machines, and at least four more facilities are expected to open later this year.

Sportsbook ADWs Approved

While sportsbooks are not yet ready to launch in Kentucky, several have been working to gain a foothold in the state by launching advance deposit wagering (ADW) sites, which allow people to bet on racing online.

During Tuesday’s meeting, the KHRC signed off on decisions by Executive Director Jamie Eads to approve ADWs for Caesars and DraftKings to operate in the state. Caesars Racebook is an affiliate of NYRA Bets, which will manage funds, provide fraud detection, and conduct verification checks for Caesars. DraftKings’ DK Horse will be an affiliate for Churchill Downs’ TwinSpires platform.

The post Kentucky Sports Betting Update: Horse Racing Commission Already Working on Regs appeared first on Casino.org.

Cleveland.com reported Thursday that the DeWine Administration was working to identify a firm to?conduct the review after “potential HR irregularities” were discovered.

McDonald had cited medical reasons for his sudden departure on Wednesday.

The independent investigation will determine any lottery staff involvement in any alleged irregularities,”?DeWine Press Secretary Dan Tierney told the news outlet.

A message to Tierney was not immediately returned on Friday, and a spokesperson for the lottery referred all questions to the governor’s office.

The OLC’s website now lists Michelle Gillcrist as its interim director. According to her LinkedIn bio, she has served as DeWine’s regional director for Northern Ohio since January 2019.

About the Ohio Lottery

Fifty years ago, voters in Ohio approved a state lottery, and that vote established the OLC. The first game was offered in 1974, and since then, the lottery has generated more than $29 billion in revenue for the state’s education programs.

In the 2022 fiscal year, it provided $1.41 billion, a record one-year amount, for the fund that helps primary, secondary, vocational, and special education. The OLC has sold $4.3 billion in tickets in each of the last two fiscal years.

While giving budget testimony before the Ohio House Finance Subcommittee on Primary and Secondary Education two months ago, McDonald said the OLC wanted to “minimize its reliance on unpredictable multistate game jackpots” associated with Powerball and Mega Millions.

As such, multistate games now only account for approximately 7% of annual sales revenue while scratch-off games and monitor games, such as KENO, account for nearly 70% of annual revenue,” he said.

More than 10,000 retail establishments across the state sell lottery scratch-off and draw-game tickets.

The commission also oversees the more than 10,000 slot-like video lottery terminals (VLT) that the state’s seven racetracks host. Through the first nine months of the 2023 fiscal year, the racinos have generated $1 billion in revenues, with $338.5 million going to the lottery.

The OLC also participates in the state’s sports betting program. It administers the kiosk operations at select lottery retailers with qualifying liquor permits. Through the first two months, the kiosks have generated much revenue.

Through February, 866 retailers have had kiosks installed in their establishments. The machines have generated just $1.8 million in wagers – compared to more than $1.7 billion wagered through online apps during the same timeframe. The kiosks have generated $178,186, with the OLC’s share totaling $42,190.

Lottery to Seek New Gaming System

While the OLC will need a new director, it is also getting ready to revamp its central gaming system. McDonald told lawmakers that its current contract with Intralot has options through the 2027 fiscal year in February, but that system is 14 years old. It also takes several years to bring a new system on board.

“Therefore, the Lottery has already begun that process by working with a consultant and issuing an RFI last October for information on a new comprehensive lottery gaming system,” he said. “We anticipate releasing an RFP in the second half of calendar year 2023.”

The post Ohio Gov. Mike DeWine Wants Investigation Into State Lottery After Director Retires appeared first on Casino.org.

In a statement Thursday, the Alcohol and Gaming Commission of Ontario (AGCO) announced a proposed rule that would require licensed operators in Canada’s most populous province to end all promotional deals with active or retired athletes.

Currently, the AGCO bans celebrities who “primarily appeal” to youth.

Ontario allows adults 19 and older to place bets on licensed apps.

The AGCO has identified advertising and marketing approaches that strongly appeal to persons who are under the legal gaming age through the use of celebrities and/or athletes,” the organization said in its announcement. “Concern regarding the potential harmful impact on the most vulnerable population, underage persons, remains high.”

Stakeholders can submit comments to the proposal through May 8.

Impact Could Be Far and Wide

If the AGCO approves the proposed rule banning athletes, the commission said it won’t take effect for three months after the final rule is published. That’s to give operators time to comply with the requirement.

Still, the rule change would have a significant impact on many operators.

BetMGM has ambassador deals with such athletes as Edmonton Oilers superstar Connor McDavid, retired NHL icon Wayne Gretzky, and retired NBA great Kevin Garnett. FanDuel wouldn’t be allowed to use its promotional materials with Charles Barkley in the province, and Caesars wouldn’t be able to leverage its relationship with the Manning family.

Ontario Takes Tough Stances

The commission’s guidelines regarding advertising and promotions are stricter than their counterparts in the US, and while sports betting and iGaming have only been regulated in the province for just over a year, the regulatory body has already fined several operators for violating standards.

Last August, the AGCO fined Unibet Group CA$48,000 (US$35,977) for breaking the rules regarding promoting bonuses in general advertisements. Prior to that, DraftKings, BetMGM, and PointsBet all were fined, too.

Ontario’s regulated iGaming and sports betting market went live on April 4, 2022, as the province sought to deter residents from wagering through unregulated sites that had been operating for years.

According to an Ipsos survey conducted last month for the commission, 85.3% of people who said they wagered online in the province did so through a regulated site. Before the start of Ontario’s program last year, 70% of the online betting that happened there was through unregulated sites.

“A key objective in this first year has been to move Ontario players from playing on unregulated sites to the regulated market so that they would benefit from high standards of operator and game integrity, fairness and player protections including responsible gambling safeguards,” AGCO Registrar and CEO Tom Mungham said last week.

The post Ontario Gaming Regulators Considering Ban on Athletes in Online Betting Ads appeared first on Casino.org.

They got a tour of Churchill Downs and met with a representative from Gaming Laboratories International (GLI), which tests and certifies gaming equipment and systems. They also had a chance to talk with the Kentucky Horse Racing Commission (KHRC), which led to the visit becoming an information exchange of sorts thanks to the Kentucky General Assembly passing a sports betting bill the week before.

Prior to Beshear’s remarks, Casino.org reached out to three current and former regulators who helped manage the launch of sports betting in their states. We asked what allowed them to launch quickly, what worked well, what they may do differently this time, and what advice they’d give Kentucky officials.

Their comments appear below, edited for length and clarity.

More on Kentucky Sports Betting:?What led to the bill passing on the General Assembly’s final day in session?

Iowa

Iowa Gov. Kim Reynolds (R) signed the state’s sports betting bill into law on May 13, 2019. On August 15 of that year, state officials, along with representatives from William Hill, cut the ribbon on the state’s first sportsbook at Prairie Meadows Casino, Racetrack, and Hotel just outside of Des Moines.

Iowa Racing and Gaming Commission (IRGC) Administrator Brian Ohorilko said the agency didn’t establish any rules or procedures before the governor signed the bill. However, IRGC staff had already conducted research and reached out to other states as they developed initial drafts.

Ohorilko also credited an “excellent project management plan for licensing and rule writing, and cooperation and execution by staff” along with cooperation from the industry with regard to the licensing process and initial proposed rules.

He said the commission members’ flexible schedule allowed them to schedule meetings when needed, and that near-unanimous support from everyone associated with the rulemaking process allowed them to “adopt rules on an emergency basis.”

“Only a few operators were ready to or wanted to launch by August, allowing for staff resources to be focused on those operators demonstrating compliance with the licensing requirements, rules, and laws,” he said.

Ohorilko added his office granted every meeting requested by a potential stakeholder, a move that proved to be helpful.

We were constantly reviewing comments and spending time determining why requests were being made, and if it made sense for us to incorporate things in Iowa,” he explained. “There are little things here and there that we would do differently with specific areas of regulation, but most of those requirements have been modified in subsequent rule changes in later years.”

He added that every state is different in how it should, and needs to regulate sports wagering. ” I am sure the regulators will do a great job with their launch.”

Indiana

Not long after Iowa celebrated its launch, Indiana ushered in sports betting with three retail sportsbooks opening across the Hoosier State on Sept. 1, 2019. Other books opened later in the month, and apps would go online starting in October.

That start came less than four months after Gov. Eric Holcomb (R) signed an expanded gaming bill into law.

“While the aggressive launch in Indiana was very difficult for staff, it’s also a point of pride for the Indiana Gaming Commission,” said Sara Gonso Tait, who was the IGC’s executive director at the time.

Tait, who now serves as a partner in Indianapolis-based law firm Ice Miller’s Public Affairs Group, told Casino.org that lawmakers filed sports betting bills in previous sessions.

“As we knew it was an emerging issue that could come under our purview, we engaged in significant due diligence before the legislature authorized the activities,” Tait said. “We greatly benefited from other states and their established best practices and assistance. In Indiana, there is the ability to adopt emergency rules, so that was certainly helpful to fast-tracking our launch as was our experience as a mature regulatory agency.”

Kentucky laws also give its state agencies, like the KHRC, the ability to create emergency regulations.

With so many states having already legalized sports betting, Tait said there’s a lot of work that has been done elsewhere that will help Kentucky launch quickly.

Many of the new states tasked with rolling out a regulatory scheme have the benefit of watching other states and learning,” she added. “Regulators seem to have coalesced around a set core of standards and approvals. Oftentimes, states do not want to be an outlier, so, if something is approved in one state, that helps get approval in other states.

She added that “taking a risk-based regulatory approach and ensuring the launch process was transparent and collaborative” was also critical. Doing so, she said, allowed operators and other stakeholders “with dozens of state launches and operations under their belts,” to leverage expertise that served as an invaluable resource.

More on Kentucky Sports Betting:?State officials want a quick launch, but also want to do it right.

Kansas

The Sunflower State also needed less than four months to go from bill signing to a Sept. 1, 2022, launch. KRGC Government Relations Manager Randy Evans told Casino.org that having a set of temporary regulations ready helped expedite the process.

Since we already had casinos, blending the sports wagering rules and regulations with the already written casino regs made the process easier,” Evans said. “The permanent regulations are still being finalized.

Evans added that one issue that should be closely looked at is “the way the overall profit to the platform is calculated, thus affecting the portion they are taxed on.” In Kansas, Evans said, “the platforms do not include all the ‘free play’ promotion money they passed out at launch in the bottom line that is taxed. I realize the free play or promotions are industry standard. However, if there were some standards, I think it would be helpful.”

Kentucky’s law only allows operators to deduct the .25% excise tax the federal government assesses on each wager.

“The last thing that assisted in the quick launch was how we handled the initial background process of the platforms,” Evans added. “Since most of the big well-known platforms were already licensed and doing business in other states, we were able to give them temporary licenses while we completed the normal background and licensing we require.”

Kentucky Responds

Casino.org reached out to the KHRC for an interview or comment on its plans. A spokesperson for the state agency said officials are not commenting aside from the following statement.

“House Bill 551 gives the Kentucky Horse Racing Commission (KHRC) six months from the effective date, on or about June 28, 2023, to complete the required regulatory framework,” the commission said. “KHRC is dedicated to fulfilling its responsibilities in a timely manner while ensuring a successful implementation of sports wagering in Kentucky.”

The post Kentucky Sports Betting Update: Regulators Explain Quick Launches in Their States appeared first on Casino.org.

It was a bipartisan celebration, said state Rep. Michael Meredith, R-Oakland. Meredith was the primary sponsor of House Bill 551, the bill that would make Kentucky the 37th state to allow the wagering opportunity. A call was made to former state Rep. Adam Koenig, who had shepherded the previous attempts in the legislature – including its first passage in the state House last year – before losing in a primary last May.

“Everybody was pretty excited,” Meredith told Casino.org last week. “It was a win because of five years of work, but it was also a win because we were right at the last minute, and the night before, we didn’t know we were going to get there. But we did.”

‘Dead in the Water’

Just 24 hours earlier, as the Senate wrapped up its first of the two post-veto period days that conclude the 30-day session, it did so a couple of hours earlier than most had expected. Senate Majority Floor Leader Damon Thayer, R-Georgetown, seemed frustrated as he answered questions from reporters about sports betting and a bill that would gradually eliminate the inventory tax on bourbon and other distilled spirits as they age in storage.

For sports betting proponents, it appeared the bill would die in the Senate for the second straight year. As of March 29, Thayer said they needed two votes to get to the 23-vote threshold they needed to succeed.

I thought sports betting and the bourbon barrel tax issue were both dead in the water Wednesday night,” Thayer told Casino.org last week. “I wanted to try to get them both done and not let them hang over another night. But it’s always darkest before the dawn and things changed the next morning.”

That change was Senate President Robert Stivers, R-Manchester, telling Thayer and Majority Caucus Chair Julie Raque Adams, R-Louisville, he would vote yes on the sports betting bill. Previously, Stivers had been skeptical about sports betting’s impact, noting the millions in tax revenue it would generate would be minimal in relation to the multi-billion-dollar state budget.

While Stivers became only the 22nd yes on HB 551, according to Senate Republicans tallies, the fact that he came on board helped significantly as the bill passed later that day by a 25-12 vote. While the Senate had 37 sitting members, HB 551 needed 23 yes votes in this session because the Kentucky Constitution requires any revenue-raising bill proposed in a non-budget session to need a three-fifths majority to pass.

“It was indeed a seminal moment for sports betting,” Thayer said.

Stivers Dismisses Report About Meeting

Last week, Gene McLean, a longtime Kentucky sportswriter who operates The Pressbox blog on thoroughbred racing, reported that Stivers had a conversation with Joe Craft, a powerful Kentucky businessman whose wife is currently running for the Republican gubernatorial nomination in next month’s primary, and that talk led to the sports betting bill’s passage.

Through a spokesperson, Stivers issued a statement to Casino.org refuting that claim.

“The sports wagering bill – and the bourbon barrel tax bill – that passed during the 2023 General Assembly were the result of leadership in both chambers working together,” he said. “Joe Craft had no influence on this legislation, nor did he attempt to influence the process or me.”

Meredith said that if anyone had any influence on Stivers, it would have been House Speaker David Osborne, R-Prospect, who Meredith said has always been a major backer of the legislation.

That’s why it didn’t shock Meredith to see Stivers vote yes.

“He had always left an opening to be for the bill, and ultimately, I think he recognized that we were extremely close and the issue wasn’t going to go away,” Meredith said. “So, why not just take care of it now and move on to other things?”

Kentucky Gaming Movement Done for Now?

With sports betting finally a reality in Kentucky, Thayer believes that has settled gaming issues in the state for now. However, there have been some lawmakers and even Beshear himself who have discussed the possibility of casino gambling coming to Kentucky.

I would discourage anyone from talking about any more gaming bills for now,” he said. “The focus now needs to be on the launch of sports betting and the elimination of the gray machines across Kentucky.”

Earlier in the session, lawmakers passed a bill that Beshear signed into law that bans the so-called gray machines, also known as skill games. However, game manufacturers and several businesses that host such machines have filed a lawsuit to stop the law from taking effect at the end of June.

The post Kentucky Sports Betting’s Passage Due to Stivers’ Vote, GOP Floor Leader Thayer Says appeared first on Casino.org.

House Bill 551, which Gov. Andy Beshear (D) signed into law hours after the Senate passed it on March 30, gives the Kentucky Horse Racing Commission (KHRC) six months from the time the law is enacted – which will occur on June 29 – to set up the regulatory framework and get operators licensed to take bets. However, many hope the KHRC can expedite the process.

Senate Majority Floor Leader Damon Thayer, R-Georgetown, said in an interview with Casino.org that KHRC Chairman Jonathan Rabinowitz told him it would be a priority for the regulatory body to get either retail sportsbooks at racetracks or online apps approved for Kentuckians to bet on NFL and college football regular season games.

He knows that the public would love to be able to bet on football this fall, and he told me that he and the racing commission are going to work with the racetracks and the online providers to try to have one or the other available by football season,” Thayer said.

Rabinowitz did not return a message seeking comment.

State Rep. Michael Meredith, R-Oakland, told Casino.org that the commission cannot approve regulations before the enactment date. However, he believes officials can do some advance work to get the ball rolling in preparation for then.

“I don’t want this thing to be dragged out any longer than it has to be,” he said. “Because people want this. It’s been five years in the making. We owe it to the people of Kentucky to move this along as fast as we can.”

New Jersey to Offer Help

During his weekly press briefing last Friday in Frankfort, Beshear let out an enthusiastic “oh yes,” when he was asked if he was encouraging the commission to hasten the process. But then he quickly followed that they also “want to get it right.”

The governor acknowledged that the first week of NFL regular season games “is a big starting date for people.” But he would not commit to that just yet.

With three dozen states having approved sports betting already, he added that he wants the state to take a look at what those states did well – especially those that have a system in place close to what Kentucky plans to implement.

“We were not the first person to build this wheel,” Beshear said.

Beshear also said he had spoken recently with New Jersey Gov. Phil Murphy (D), and that Murphy offered “technical assistance” to help Kentucky regulators. Many in the gaming industry consider the Garden State – the state that’s responsible for opening the door for most other states to legalize sports betting – the standard bearer for regulation.

Those comments mesh with what Thayer said, with the senator, who rarely sees eye-to-eye with the governor, adding that the onus is now on the KHRC, the tracks, and interested operators, and that there are several examples of states to emulate.

“I just encourage them all to work well together to try to get this going as quickly as possible, but I advise sports bettors, who have shown remarkable patience for five years, that it could take up to six months,” he added.

Work Remains for Operators, Vendors, Too

There’s a lot of enthusiasm, and understandably so, for launching as quickly as possible in Kentucky. However, it’s not as simple as setting up a couple of betting windows or kiosks on the gaming floor or just rolling out an application for bettors to download.

In other states, the pre-launch process has included such steps as testing equipment, inspecting facilities, completing and reviewing license applications, conducting background checks, determining what events sportsbooks can offer, and much more. For online sports betting, establishing a geofence – the virtual boundaries from which apps can legally take wagers – is a crucial part of the process.

The Wire Act, a more than 60-year-old federal law, outlaws the use of communications equipment to transmit sports betting information across state lines. Companies like GeoComply help operators ensure bettors are physically in a legal jurisdiction before they can place a wager.

Mapping each state can an arduous process, especially if there are areas where wagering is restricted, Lindsay Slader, the Canadian-based company’s senior vice president of compliance, told Casino.org. GeoComply also does more than just determine a bettor’s location. It also provides other security and fraud detection services that can be unique to sports betting apps.

The signup bonuses are huge,” she said. “There’s not very many online transactions that you can have today where you deposit a small amount of money and could potentially walk away with a very large sum of money out of that. So, it’s ripe for exploitation without the proper protection.”

Those systems also need to be tailored to meet each operator’s platform specs and other needs. As a result, those also take time to develop and implement.

Lots of Options for Kentucky to Follow

As states have legalized sports betting, one thing has become clear: Very few have done so the same way.

Several states have tied sports betting licenses to casinos that operate there. Some have allowed professional sports teams or other businesses to partner with operators. In a few, the state lottery manages it. Not all states offer online wagering, either, and then there’s Tennessee, which only allows online apps.

Some states have approved operators on a one-by-one basis to launch, and others, like Ohio, set a universal launch date.

Because of all those variables, the time from legalization to launch varies for the states that have passed a sports betting law after the May 14, 2018, US Supreme Court decision that overturned the Professional and Amateur Sports Protection Act.

Using data compiled by the American Gaming Association, six states – Michigan, Iowa, Rhode Island, Indiana, Kansas, and Connecticut – have needed less than 130 days to go from signing a bill into law to celebrating the first bet. In five of those states, retail operators launched first, with apps launching later. Michigan needed just 83 days to open retail sportsbooks at the three Detroit casinos in March 2020. But online operators didn’t roll out until 11 months later.

Indiana, Kentucky’s neighbor to the north, launched in 112 days, but did so on a one-by-one basis starting on September 1, 2019, with brick-and-mortar sites. The first apps would not go live until Oct. 3, 2019. But again, they were on a one-by-one basis.

Of the six, only Kansas, which has six online operators, launched retail and mobile on the same day, 113 days after sports betting became law. The online launch was a soft opening, with the full rollout a week later.

On the other end of that spectrum are states like Ohio, which needed 376 days from passage to launch on January 1, and Tennessee, which launched on November 1, 2020, 528 days after lawmakers approved wagering.

Ohio’s launch was universal, with 16 online operators, 13 retail sportsbooks, and hundreds of kiosks starting on the same day. Tennessee did not have a gaming commission. The state’s lottery initially set up sports betting regulations and approved the first operators.

The post Kentucky Officials Hopeful for Early Sports Betting Launch, Commit to Do It Right appeared first on Casino.org.

Despite exciting wins by a pair of favorites, Tapit Trice in the Blue Grass Stakes and Practical Move in the Santa Anita Derby, neither of them looked impressive enough to bump Forte from the mantle of presumptive Kentucky Derby favorite.

The other Derby prep, the Wood Memorial, featured 59-1 shot Lord Miles edging favorite Hit King for the upset win.

Not only have they been graded stakes wins, but that streak includes four Grade 1 wins. The last came last weekend in the Florida Derby in stirring fashion as Forte rallied from fifth place and from well outside in stretch to score the victory.

Pletcher will actually come into Louisville with three contenders. Besides Forte, he also trains Tapit Trice and Kingsbarns, an undefeated colt who won the Louisiana Derby two weeks ago.

“We’re blessed,” Pletcher told reporters at Keeneland Saturday after Tapit Trice’s victory. “We’ve had a good spring, and now we got to hopefully have another good four weeks.”

The Case for Forte

Favorites have recently suffered a bit of a dry spell in the Derby. The last to win was Triple Crown winner Justify in 2018, but the bettors’ choices have come close in recent years, with last year’s favorite, Epicenter, finishing second.

Pletcher has said the major prep race at Gulfstream Park would serve as a good test for his prized colt. The trainer came away pleased that Forte’s best part of the 1-1/8 mile Florida Derby was the final sixteenth, which would indicate he’d do well in the 1-1/4 mile Kentucky Derby.

What was impressive … was when he did make the lead, he kind of pricked his ears again which we’ve seen him do a number of times,” Pletcher said. “It kind of makes you believe there’s a little more in the tank there.”

After Saturday’s races, Circa Sports in Las Vegas kept Forte as the favorite with odds of +315, meaning a $100 wager would net $315. Tapit Trice and Practice Move are next at +550 each, and Verifying, who lost by a neck to Tapit Trice on Saturday, and Kingsbarns are +950.

NEW: @CircaSports just posted its latest Kentucky Derby futures after today's prep races.

Forte remains the convincing favorite at +315 (Bet $100 to net $315), with Tapit Trice and Practical Move the co-second choice at +550.

Verifying and Louisiana Derby winner Kingsbarns +950 pic.twitter.com/UYjif1nFIW

— Steve Bittenbender (@BittGDCG) April 8, 2023

If Not Forte, Then…

With up to 20 horses in the field, the Kentucky Derby is definitely not a conventional horse race, and with that large a field, it does present bettors with opportunities for value.

If you’re looking for an intriguing long-shot possibility, one horse to consider is Two Phil’s, who won the Jeff Ruby Steaks two weeks ago at Turfway Park. Turfway, a Churchill Downs track in Florence, Ky., has a synthetic tapeta track, which is different from the dirt track at Churchill.

But Two Phil’s won at Churchill last year on a sloppy track.

“I’m hoping it rains,” trainer Larry Rivelli told reporters after the Jeff Ruby.

So, that’s something to keep in mind should the clouds turn dark on May 7. Two Phil’s could be your silver lining.

At Circa, Two Phil’s Derby futures odds are +3000.

Who Will Run in the Kentucky Derby

The field for the Derby is based on points horses accumulate in prep races. Saturday’s races each awarded 100 points to the winner, with the runners-up getting 40, the horses in third getting 30, and the horses finishing fourth receiving 20.

Churchill Downs Senior Director of Communications Darren Rogers tweeted the updated point totals Saturday evening.

An early look at the updated Road to the @KentuckyDerby Leaderboard following the Blue Grass, Santa Anita Derby and Wood Memorial. Final PDF update to come after Santa Anita Oaks (8:24 pm ET). pic.twitter.com/K3aHr9jwsW

— Churchill Downs PR (@DerbyMedia) April 8, 2023

The post Road to the Kentucky Derby: Forte Remains Solid Favorite as Field Solidifies appeared first on Casino.org.

The current assistant chief of the Catawba Nation is seeking higher office.

On Monday, Jason Harris announced his candidacy to be the chief of the Carolinas-based tribal nation. If elected, he would replace Chief Bill Harris, a distant cousin who isn’t seeking re-election, according to a candidate’s spokesperson.

Jason Harris touted his service on his campaign website in two terms as assistant chief. In that position, he said he worked with other Catawba members to help the nation secure gaming rights.

South Carolina has denied the tribe the ability to operate a casino there.

Two Kings currently operates out of a temporary venue on the 17-acre site until its permanent, $273 million resort opens.

“I’m running for this office because I believe that our tribe deserves a Chief who is committed to making tangible improvements in the lives of our citizens,” Harris said in a statement. “That’s why my platform includes key items like finishing the casino project, providing per capita payments to our citizens, and offering a death benefit to ensure financial security for families in their time of need.”

Concerns Raised

Construction on the permanent venue has been delayed by a federal investigation into arrangements the Catawba Nation leaders made with Kings Mountain Sky Boat Partners. In December, the National Indian Gaming Commission (NIGC) said in a 30-page letter that the decision to let Sky Boat “manage in part” an expansion of the temporary casino took place without the federal agency’s permission.

NIGC officials also raised concerns that the tribe isn’t the primary beneficiary of the casino, which is a requirement under the Indian Gaming Regulatory Act (IGRA).

The commission’s letter said the parties face fines of up to $57,527 per day for each violation, and the commission may order the casino to shut down temporarily, too.

‘Significant Progress’ Made on Two Kings

In a statement to Casino.org on Monday, Harris said the tribe is “working diligently to resolve some language issues” with the commission through its lawyers.

We remain committed to protecting and growing our rights under IGRA in our aboriginal territories in North Carolina,” Harris told Casino.org. “Once we have resolved these issues and all parties are comfortable, we will proceed with scheduling construction.”

Still, he added that the Catawba Nation has “made significant progress” in completing the permanent resort.

“We have been working closely with several reputable banks eager to provide financing for this project, given our successful track record and revenue generated from our current casino operations,” he said.

About the Catawba Election

The chief’s position is part of the five-member Catawba Nation Executive Committee, including the assistant chief, a secretary-treasurer, and two qualified members of the tribe’s community. All seats will be up for election on July 29.

Two other individuals, Jackie Bagley and Brian A. Harris, have also filed to run for chief.

The post Jason Harris to Run for Catawba Chief, Provides Update on Two Kings Casino appeared first on Casino.org.

Lawmakers in the General Assembly, seeking to wrap up a few pieces of significant legislation on the final day of the 2023 session, came to agreements to pass sports betting and other issues, including on a bill that reforms how the state will tax bourbon barrels.

Bourbon and betting. That’s so Kentucky.

The Senate passed an amended version of the bourbon tax reform bill that needed the House to approve the changes, which it did a couple of hours later.

Senate Majority Floor Leader Damon Thayer, R-Georgetown, said having two major issues like that “coming to a head” led to collaboration and their passage.

Senate President Robert Stivers, R-Manchester, concurred.

When you ask the House what’s important to them, what’s important to other bills that have to get through, it became evident that there was a lot of support for both bills to move,” Stivers told reporters Thursday evening. “And so it’s more of a cumulative discussion when we speak with House leaders.”

HB 551 now heads to Gov. Andy Beshear’s (D) desk. An ardent proponent of expanded gaming, Beshear thanked lawmakers for passing sports betting in a tweet Thursday night and making the Bluegrass State the 37th to do so.

After years of urging lawmakers to legalize sports betting, we finally did it! Today’s result shows that hard work pays off. 1/2

— Governor Andy Beshear (@GovAndyBeshear) March 30, 2023

About the Kentucky Sports Betting Bill

The bill allows the state’s nine racetracks to host retail sportsbooks at their tracks and satellite gaming facilities. It also gives them the ability to partner with three online operators, meaning the state could have as many as 27 licensed apps.

Tracks will pay $500K for their licenses, while operators will pay $50K. Annual renewal fees will be $50K for tracks and $10K for operators.

The state will tax operators’ revenues at 9.75% for the retail books and 14.25% for the online operators. The revenue will cover the KHRC’s administrative costs, with 2.5% being earmarked for the state’s first problem gambling assistance fund, and the remainder going to the state’s pension fund.

Previous forecasts have estimated the sports betting tax would generate about $22 million annually for the state. Thayer, in his floor speech, said the total might be even higher because of what other states are raising.

Not a ‘Big Win’ for Kentucky Racetracks

Some have criticized the bill as a sweetheart deal to the horse industry. However, Thayer told reporters after the vote that it was the sportsbooks that were pushing for the bill more than the tracks.

The tracks were more concerned about the gray games/skill games ban that passed the legislature earlier this month, and once that happened, the tracks became more engaged in sports betting, Thayer said.

“They’ll be happy to have it,” he said. “There will be partnerships worked out with the providers, but it’s not a big win for the tracks. It’s probably a base hit, maybe a double for them.”

“We want to thank the Kentucky General Assembly for passing legislation that will bring legal sports betting to the Bluegrass State, pending action from Governor Andy Beshear,” said Griffin Finan, DraftKings’ senior vice president and deputy general counsel, in a statement to Casino.org. “We look forward to the potential opportunity to introduce Kentucky sports fans to our top-rated mobile sportsbook product.”

Sports Betting Tally a Surprise

Meredith and state Rep. Al Gentry, the Louisville Democrat and HB 551’s primary co-sponsor, stood off to the side in the chamber as the Senate clerk called the roll.

Afterward, Meredith said he expected they would get 23 or 24 votes, but there was one “real surprise,” although he declined to identify that senator.

Then there was Missouri, Kentucky’s only neighboring state without legal sports betting, making progress on their measure.

“We’d truly be an island in and of ourselves … I think people saw that the chips keep falling in that direction, and we’d continue to be an outlier,” Meredith said. “Then it just made sense because of all the border states and what we were able to present on all the illegal wagering in the state.”

‘Take it Off the Table’

Among the surprising yes votes were Stivers and state Sen. Brandon Smith (R-Hazard). For years, Stivers would express ambivalence about the impact sports betting would make in the state, describing the millions it would generate as an “appetizer” in relation to the state’s multibillion-dollar budget.

I felt it was time because the votes eventually are going to be there, be it now or next year to pass this,” the Senate president told reporters. “The question on the vote total only was because it was an odd-numbered year and needed 60%. Therefore, there were more than enough votes in this chamber to pass the bill. So, go ahead and do it now and take it off of the table.”

Smith explained his surprising yes vote on the floor, saying that his district, redrawn after the 2020 Census, changed significantly and included vast support for the bill.

“I have made a pretty hard case against this bill,” he said on the floor. “But I will tell you how I come up short. The voters of my new district want to be able to have this freedom.”

The post UPDATED: Kentucky Sports Betting Bill Clears Legislature in Session’s Final Day appeared first on Casino.org.

Rumors swirled around the Capitol in Frankfort about possible vote counts, with several people indicating supporters were just a member away from reaching the 23-vote threshold they need to pass House Bill 551 before the clock strikes midnight.

Senate Majority Floor Leader Damon Thayer (R-Georgetown) was asked repeatedly after the Senate adjourned for the night if they needed one vote to pass House Bill 551, sponsored by state Rep. Michael Meredith (R-Oakland). They’re “close” is how he responded each time.

There are some undecideds, and I’m hopeful that with a good night’s sleep and a fresh set of eyes that we can have the votes to pass it tomorrow,” he told reporters after the session ended around 9:30 pm.

If the session wraps up Thursday without the Senate taking up the measure, efforts to legalize sports betting would have to wait until lawmakers return for the 2024 session in January. In addition, it would mark the second straight year where the Kentucky Senate did not vote on the bill before the session ended.

Democrats ‘United’ for Sports Betting

Thayer did say that all seven Democratic members of the chamber were on board with the bill, meaning the undecideds are among the 30 Republican members.

Minority Caucus Chair Reginald Thomas (D-Lexington) concurred.

“It appears to be that way,” he told Casino.org after the session. “We’ve been united in terms of the important issues for the people this session … On this issue, this is a critically important issue that Kentuckians want. I suspect that we (Democrats) will be together tomorrow.”

Gov. Andy Beshear, a Democrat, has said he would sign a sports betting bill into law. His successful campaign for governor four years ago included calls for expanded gaming in the state.

If approved, HB 551 would allow the state’s nine racetracks to operate retail sportsbooks at their facilities. In addition, they would be able to partner with up to three online operators apiece.

The measure needs 23 votes out of 37 members to pass because the state constitution requires any bill generating revenue or allocating funds being considered in a nonbudget session obtain at least a three-fifths majority.

On March 13, it passed the House by a 63-34 margin.

Gaming Industry Lobbies Lawmakers

Lawmakers returned to Frankfort Wednesday for the final days of the session. On Tuesday, American Gaming Association President and CEO Bill Miller sent a letter to each senator urging them to legalize sports betting.

Kentucky isn’t the only state legislature that’s considering legalizing sports betting. Measures are currently active in several states,most notably Georgia, Missouri, North Carolina, and Vermont.

The post Kentucky Sports Betting Bill ‘Close’ to Passing with One Day Left in Session appeared first on Casino.org.

In case you missed it, on Tuesday, the regulatory agency fined the bookmaker a total of ￡19.2 million (US$23.7 million) for a litany of failures that were amassed over a nearly 18-month span from May 2020 to mid-October 2021 in three William Hill subsidiaries. The findings were so egregious that UKGC Chief Executive Andrew Rhodes said the commission contemplated suspending the British-based gaming giant’s license.

“However, because the operator immediately recognized their failings and worked with us to swiftly implement improvements, we instead opted for the largest enforcement payment in our history,” Rhodes said in a statement.

If you want to see all that William Hill did, you can read the list in the commission’s release. If you just want some of the lowlights, here you go:

• Allowing multiple customers to open accounts and gamble thousands of pounds in short periods of time without any reviews;
• Lacking the ability to stop more than 330 people from gambling at one William Hill business even though those individuals self-excluded themselves at another William Hill subsidiary;
• Failing, on numerous occasions, to follow anti-money laundering guidelines by allowing bettors to deposit large sums without conducting the requisite checks or seeking proof of how the gamblers obtained their money;
• Approving a ￡100,000 (US$123,212) wager for a bettor despite that person only being approved for a ￡70,000 (US$86,248) line of credit;
• And failing to implement 24-hour delays for granting credit line increases after bettors have submitted them.

The UKGC’s release states that William Hill’s penalty exceeds the ￡17 million (US$20.9 million) fine levied against Entain last year. In addition, the UKGC has settled 25 other cases since the beginning of 2022 for more than ￡76 million (US$93.6 million).

Rhodes Sees Progress from UK Operators

Despite what happened at William Hill, Entain, and others in the not-so-distant past, Rhodes is maintaining a stiff upper lip in regard to the gaming industry’s future.

There are indications that the industry is doing more to make gambling safer and reducing the possibility of criminal funds entering their businesses,” he said. “Operators are using algorithms to spot gambling harms or criminal risk more quickly, interacting with consumers sooner, and generally having more effective policies and procedures in place.”

Caesars Entertainment officially acquired William Hill in April 2021, and the Nevada-based company sold the non-US portion of William Hill to 888 Holdings last July.

In an update to investors on the acquisition issued on April 7, 2022, 888 Holdings said in a footnote William Hill had previously set aside ￡15.2 million (US$18.7 million) “to cover the potential for any regulatory fine, penalty or settlement and associated cost” tied to a UKGC assessment conducted in the summer of 2021.

“This provision is the Business’s best estimate based on the action points raised to date by the UKGC, management’s current knowledge, and third-party regulatory and legal advice reflecting outcomes of previous compliance assessments and regulatory action across the industry,” the update stated.

An 888 spokesperson said. “The entire Group shares the GC’s commitment to improve compliance standards across the industry, and we will continue to work collaboratively with the regulator and other stakeholders to achieve this.”

Can US Operators Avoid Similar Outcomes?

What’s happened in the UK has been described as a possible future in the US as sports betting grows from its still-nascent roots here.

Critics have lambasted US industry operators for their advertising practices. State regulators have also issued citations for violations, but the fines for American books, like the US$500,000 (￡405,830) DraftKings and the US$250,000 (￡202,991) Barstool Sportsbook paid in Ohio, haven’t approached what the UK’s handing out.

Of course, even a state like Ohio is about a sixth of the size of the UK, but who’s to say that the federal government won’t get involved at some point? One New York congressman already wants an all-out ban on commercial advertising for sportsbooks.

The trade association is calling on operators to make several changes to their ads as part of the industry-regulated initiative. Those include no longer using “risk free” in promotions and prohibiting most marketing deals with colleges. That change excludes any responsible gaming education for students and still allows books to partner with alumni networks.

Some states have already enacted similar regulations. Ohio bans marketing on college campuses, and it, along with Pennsylvania, New Jersey, and others, has issued restrictions on advertising.

The AGA also wants operators to make 21 and older the “legal age of wagering,” and feature only people those ages in advertisements. Those new standards are to start immediately, although the association is giving operators a chance to update existing materials by July 1.

“Advertising plays an essential role in migrating consumers away from predatory illegal sportsbooks and into the protections of the legal, regulated market while providing responsible gaming resources,” AGA President and CEO Bill Miller said. “The AGA and our members are committed to building a sustainable marketplace that protects vulnerable populations and gives consumers the knowledge and tools to keep sports betting fun for adults.”

Will these steps, and possibly others, help US operators avoid the missteps of their British counterparts? Only time will tell.

The post Can US Sportsbooks Learn from UK Operators’ Mistakes? – Opinion appeared first on Casino.org.

Late Tuesday, Pace-O-Matic Chief Public Affairs Officer Michael Barley said in a statement that the Georgia-based game maker was part of a contingent that filed the lawsuit over House Bill 594 in Franklin Circuit Court.

Gray or skill games are electronic gaming devices that resemble slot machines or other video gaming terminals. Proponents of the machines say they’re allowed in Kentucky because players must rely on their skills, such as hand-eye coordination and memory, in order to win. Opponents say the machines are unregulated and would spur criminal activity if they were allowed to remain in operation.

The bill sponsored by state Rep. Killian Timoney (R-Nicholasville) survived being tabled in the state House before finally passing in both chambers. It is set to take effect 90 days after the General Assembly session ends on Thursday.

‘Prepared to Defend the Legality’ of Skill Games

Pace-O-Matic was joined in the lawsuit by ARKK Properties, B.J. Novelty, a distributor of games and other machines for establishments, The Cue Club, a Lexington pool hall owned by Kentucky Merchants and Amusements Coalition President Wes Jackson, Banners, a Lexington sports bar, an American Legion Hall in Lexington, Parlay’s Tavern, a Frankfort bar, and Vincent and Tanya Milano, two Florence residents who play the machines.

Legislation banning skill games is unconstitutional, and we are prepared to defend the legality of our games in court,” Barley said. “Our priority is, and always has been, protecting the rights of Kentucky small businesses and fraternal organizations who rely on legal games of skill for income.”

The complaint argues that skill-based games “have been legal for centuries” in Kentucky and most other places in the US because they rely on a player’s skill, and are not games of chance. Plaintiffs also claim the machines, which have increased in number across the state over the last couple of years, are being targeted by “certain horse racing interests” within the state.

The lawsuit seeks to overturn the law by claiming it violates free speech, due process, and equal protection clauses of the law, and that it takes property without compensating the affected parties. Before that, the plaintiffs also seek a temporary injunction to block it while the case is being heard in the court system.

Kentucky Attorney General Daniel Cameron (R) was listed as the defendant in the case. After participating in a GOP gubernatorial debate in Louisville three weeks ago — while HB 594 was still making its way through the legislature — Cameron said his office would defend a law banning gray games.

Long Process in Getting to Ban

The debate over the gaming machines has been a hard-fought one for the last two years. Timoney and proponents had a ban bill pass both chambers last year. But a late amendment made in the Senate did not get concurrence in the House before the session ended.

Timoney, Senate Majority Leader Damon Thayer (R-Georgetown), and other proponents worked on a new version of the legislation that answered concerns about games available in arcades and fairs. It also includes language protecting eSports contests.

The sponsor said proponents received a lot of feedback from various stakeholders and interested parties throughout the process.

“We haven’t had a chance to review the lawsuit yet, but feel confident that the work we put in, crafting this critical legislation, was enough to withstand any legal challenge,” Timoney told Casino.org Tuesday evening.

Kentucky is not the only state where these gaming machines are the center of a lawsuit. A judge in Virginia issued an injunction on a law that banned the devices in that state. Efforts to regulate the games died in the state legislature there earlier this year.

The post Kentucky Skill Games Proponents File Lawsuit to Block Impending Ban appeared first on Casino.org.

Sources have told Casino.org they are close to the 23 votes needed to pass the House Bill 551 in the Senate. It could be down to getting a single lawmaker on board to pass the bill, sponsored by state Rep. Michael Meredith (R-Oakland).

Earlier this month, the bill passed the Senate Licensing and Occupations Committee by a 9-1 vote. It was a key step for the measure, considering that it did not get a committee hearing in the chamber before the session ended.

If the votes are there – and provided that chamber does not amend the bill – it would head to Gov. Andy Beshear’s desk, and the Democratic leader has already indicated he would sign the bill into law.

The General Assembly session is scheduled to end Thursday night.

Full Court Press Initiated

With reports circulating about the close nature of the vote, both FanDuel and DraftKings went to social media to encourage Kentuckians to contact senators and urge them to pass the bill. The two major sports betting operators , along with BetMGM and Fanatics, are part of the Sports Betting Alliance that seeks to legalize sports betting across the country.

American Gaming Association President and CEO Bill Miller sent a letter to lawmakers in the chamber, saying Kentucky “has an important opportunity” to join 36 states and the District of Columbia in regulating sports betting.

Miller also noted that six of the seven neighboring states already have legalized it. He also pointed to a report from GeoComply last week that identified nearly 300,000 geolocation checks by more than 23,000 Kentucky-based accounts during the first week of the NCAA Men’s Basketball Tournament.

Nearly 80% of those checks were for online sportsbooks in Indiana and Ohio.

This consumer demand makes clear that the alternative to creating a legal marketplace is that Kentuckians will continue betting in the illegal market, with no consumer protections and no benefits generated for the state,” Miller wrote.

And as many lawmakers make their way to the Capitol, they’ll pass a billboard the Kentucky Chamber of Commerce posted last week calling for HB 551 to pass.

Our last billboard for the 2023 General Assembly! You only have a few days to let your legislator know you support sports wagering. Here’s a link to contact them: https://t.co/PoH4d0wsKU pic.twitter.com/LQwsHOtQVY

— Ashli Watts (@AshliWatts) March 24, 2023

About Kentucky’s Sports Betting Bill

HB 551 would allow the state’s nine racetracks to offer sports betting at their establishments across the state. In addition, they can partner with up to three online operators each, which would give Kentuckians as many as 27 options.

The Kentucky Horse Racing Commission (KHRC) would be the state agency in charge of regulating and licensing. Tracks would pay a $500,000 initial license fee and $50,000 for annual renewals. Operators would pay $50,000 initially and $10,000 annually thereafter. Retail sportsbooks would pay a 9.75% tax on revenues, while online operators would face a 14.25% levy. Operators would only be able to deduct the .25% federal excise tax from their gross revenues for tax purposes.

Most of the revenue would be allocated to the state’s public worker pension plans. But 2.5% of the money raised would go into a problem gambling education and assistance fund. That would mark the first time Kentucky established such a program.

Unlike its neighbors, Kentucky will allow adults 18 and over to wager. That’s the same age requirement for horse racing and other legal gambling options in the state. While Illinois, Indiana, Ohio, West Virginia, Virginia, and Tennessee all have set their age limits at 21, there are several other states that permit access to 18-year-olds.

If the bill passes, the KHRC would have six months from the day the law takes effect to create and enact regulations for sports betting. Bills signed into law in Kentucky officially take effect 90 days after the session ends.

The post Kentucky Sports Betting Bill Set for Photo Finish as Lawmakers Return to End Session appeared first on Casino.org.

The CFTC’s March 2 letter to Victoria University of Wellington stands as “a preliminary determination,” the commission stated in its 29-page filing. That letter also retracted an Aug. 4, 2022, letter to the university that revoked the no-action declaration and, instead, listed three allegations uncovered by the Division of Market Oversight (DMO). DMO is allowing the university to respond to its findings with a deadline that has been pushed to April 5.

“Depending on the University’s response, staff may determine not to withdraw the no-action letter, or continue their no-action position as to unexpired contracts, as Plaintiffs wish,” the CFTC’s filing stated. “If not, staff will explain why.”

The court granted that injunction nearly two months ago.

CFTC: PredictIt ‘Morphed’ Into Larger Exchange

The CFTC’s filing Thursday was its rebuttal to the plaintiffs’ response to the commission’s March 3 motion calling for the federal appeals court to lift the injunction.

In the March 2 letter, the DMO claimed PredictIt has been violating the terms of the no-action letter essentially since the exchange began in 2014. That includes offering markets outside of the scope determined in the letter. DMO also alleged that Aristotle, a DC-based political consulting and technology firm, was actually the outfit running PredictIt and had paid a Victoria University subsidiary for the right to do so.

Aristotle managing the exchange would run counter to the CFTC’s decision to allow a “small-scale, not-for-profit” exchange run by the New Zealand school for research purposes.

The evidence now suggests PredictIt may never have been that,” the commission stated. “At a minimum, however, PredictIt appears to have morphed into something quite different than what the university had originally represented.”

According to the CFTC, the university proposed that three professors and an administrator would be the individuals running the exchange, and that it would contract with a vendor to ensure the identities of people registering on the exchange and that they were old enough to participate.

It’s possible that the court won’t act on the CFTC’s request until the commission itself renders a decision after considering Victoria University’s objections, and the commission said it won’t object to additional briefings on the matter should the three-judge panel still have questions.

CFTC Argues Against Sanctions

The CFTC also responded to plaintiffs’ claims that its staff violated the terms of the injunction by issuing a new letter.

Rather than cite the injunction, the CFTC says PredictIt and the other plaintiffs cited their own motion for the injunction.

“A motion is not an order,” the commission stated. “And this Court’s January 26, 2023, order did not incorporate or reference any text in Plaintiffs’ briefs, or give any other indication whatsoever that Plaintiffs’ intro language was now the law.”

Lastly, any request for sanctions should be denied, according to the commission, because it has sovereign immunity.

“The CFTC’s conduct throughout this litigation has been consistent, taken in good faith, and at a minimum, substantially justified,” it claimed, adding the litigation was “only necessary because Plaintiffs filed suit without ever citing any case in which any court has held a no-action letter or its revocation judicially reviewable.”

The post CFTC Says PredictIt Founder Will Get Fair Chance to Refute Allegations Against Exchange appeared first on Casino.org.

The legendary quarterback, who announced his (re)retirement last month, jumped on Twitter Thursday evening to announce he’s joining the Las Vegas Aces. He acquired a stake in the WNBA defending champions from the team and Las Vegas Raiders owner Mark Davis.

Terms of the deal weren’t disclosed.

Brady said he’s been a fan of women’s sports since he was a kid because his older sisters were athletes.

I admire all the work the Aces players and staff, and what the WNBA continues to do to grow the sport and to empower the future generations of female athletes – one I have in my own family – and I’m ready to contribute in any way possible as a member of such a great organization,” Brady said in the video statement.

Brady, 45, played 23 seasons in the NFL, including 20 with the New England Patriots, before finishing up his career with the Tampa Bay Buccaneers. He holds NFL records for passing yards (89,214), passing touchdowns (649), and Super Bowl titles (seven). After winning six championships with the Patriots, Brady won his final Super Bowl in 2021 with the Bucs.

Honored to be joining the @LVAces family, a world class organization with a team of incredible athletes pic.twitter.com/JGU4tndZR2

— Tom Brady (@TomBrady) March 23, 2023

Watching Aces Play Piqued Brady’s Interest

Previously the San Antonio Stars, the team moved to Las Vegas before the 2018 season and became the Aces. Davis purchased the WNBA team from MGM Resorts International two years ago after bringing the Raiders to town for the 2020 season.

Since I purchased the Aces, our goal has been to win on and off the court,” Davis said in a statement. “Tom Brady is a win not only for the Aces, and the WNBA, but for women’s professional sports as a whole.”

The team said Brady’s interest in joining the Aces began after he watched a game last season at Mandalay Bay’s Michelob ULTRA Arena.

Brady’s acquisition will require league approval, but league Commissioner Cathy Engelbert issued a statement saying the WNBA is “thrilled” to see Brady’s interest and support.

“We are pleased to see the incredible momentum around the WNBA continue, as evidenced by our recent league and team equity deals,” Engelbert said.

Vegas Evolving Into a Sports Town

Brady’s decision to buy into the Aces comes when interest in Las Vegas as a sports city, not just a sports betting city, continues growing.

The city has teams in three major professional sports: the Raiders, Aces, and Vegas Golden Knights. In addition, the town is almost always cited as a prime candidate for expansion franchises or teams that may relocate, such as MLB’s Oakland A’s.

There have even been reports linking LeBron James to a potential NBA franchise in Las Vegas, and James himself discussed the opportunity last month before the league’s All-Star Game.

“Vegas is a really cool city, and they’re doing some great things in sports these days … we’ll see what happens and go from there,” he said.

The post Tom Brady to Become Part Owner of WNBA’s Las Vegas Aces appeared first on Casino.org.

On Wednesday, the state House Finance, Ways, and Means Subcommittee moved House Bill 1362 behind the budget. That means the bill sponsored by state Rep. Andrew Farmer (R-Sevierville) has a fiscal impact tied to it that won’t be included in this year’s budget bill. As a result, the Tennessee General Assembly will wait to consider it until it passes the budget.

What may help is that the Senate also has a bill to revise the sports betting tax. That bill is scheduled for a hearing in that chamber’s Finance, Ways, and Means Committee next Wednesday.

Moving Away from 20% Revenue Tax

Both bills do away with the 20% tax on adjusted gross revenues that has been in place since sports betting was legalized in 2019. The first operators went online in November 2020.

In place of that levy, lawmakers want to tax the handle, the amount wagered every month. The Senate calls for a 2% tax, while the House bill proposes a 1.85% tax. Both would allow the operators to deduct the .25% federal excise tax they pay from their monthly handle before the state assesses its tax.

The House bill would also revise the renewal fees operators pay annually. Instead of everyone paying $750K yearly, the fee would be based on individual handles, but the thresholds and fees may change.

The bill states that operators who take over $500 million in wagers would continue paying the $750K fee. Sportsbooks accepting less than $100 million would pay only $250K, and everyone between those thresholds would pay a $500K renewal fee.

A fiscal note filed Wednesday sets the threshold at $100 million in gross wagers over the previous 12-month period. Those at or above that mark would still pay $750K, but those under it would see their fee cut to $375K. The note also calls on the Sports Wagering Council (the bill also changes the name from the current Sports Wagering Advisory Council) to establish rules by July 1, 2025, that would establish license fees that would cover the council’s expenses incurred to regulate sports betting in the state.

Mandatory Hold Would Go Away

A major driver for the tax reform was operators not meeting the 10% hold rate that the Tennessee Education Lottery Corporation established when it created the rules three years ago. Both bills abolish that requirement as well.

If the operators failed to reach that 10% threshold, the state required operators to make a “true-up” payment to bring their tax contribution to what it would have been if they hit the mandated hold, or they could pay a $25K fine.

The fiscal note stated all operators that missed the 10% mandate in 2012 chose to pay the $25K fine. In 2022, all but two active operators failed to meet the required hold, and the Tennessee General Assembly’s Fiscal Review Committee is expecting those nine to pay the $25K fine this year as well.

Before this current run, the high-water mark was $29.6 million in November 2021.

Put another way, during the first 22 months of reports, the state recorded operator revenues totaling $395.2 million or an average of $18 million per month. Over the last six months, operators have won $238.7 million, an average of $39.8 million monthly.

While the last six months cover the NFL and college football seasons, that’s still a substantial increase. The period from September 2021 to February 2022 produced an average monthly revenue of $20.7 million.

The post Tennessee Sports Betting Tax Reform Bill Put On Hold Until Budget Passes appeared first on Casino.org.

According to the release, Paul was one of eight celebs who publicly pitched either Tronix or BitTorrent but failed to reveal they were compensated for their endorsement. Other individuals charged included actress Lindsay Lohan and rap stars Soulja Boy, Lil Yachty, Ne-Yo, and Akon.

The charges were part of a larger filing the SEC made in a New York federal court against Justin Sun and three of his companies, all of which were accused of selling unregistered crypto assets, fraudulently manipulating markets for Tronix, and devising the scheme to pay celebrities but failing to disclose they were compensated.

As alleged in the complaint, Sun and others used an age-old playbook to mislead and harm investors by first offering securities without complying with registration and disclosure requirements and then manipulating the market for those very securities,” Gurbir S. Grewal, director of the SEC’s Division of Enforcement said in a statement. “At the same time, Sun paid celebrities with millions of social media followers to tout the unregistered offerings, while specifically directing that they not disclose their compensation. This is the very conduct that the federal securities laws were designed to protect against regardless of the labels Sun and others used.”

A spokesperson for Paul declined to comment on the matter.

Costly Tweet for Jake Paul

The SEC said Paul was one of six celebrities who agreed to settle without admitting or denying guilt: Paul and the others who settled paid more than $400,000 combined in their agreements.

According to Paul’s SEC settlement filing, he promoted TRX in a February 12, 2021, tweet from his account without disclosing he received $25,019 in cryptocurrency to promote it to his nearly 4 million followers at the time.

In addition to paying the SEC the value of cryptocurrency, Paul also agreed to pay more than $1,800 in interest and a civil penalty of more than $75,000.

In addition, Paul agreed to not accept any compensation, directly or indirectly, from anyone connected to a cryptocurrency in exchange for promoting the cryptocurrency for three years.

About Betr

Last August, Paul announced with entrepreneur Joey Levy they were creating Betr, a sportsbook that would focus on microbetting – or in-game – markets and seek to target more casual sports bettors. The duo received more than $50 million in funding for the venture.

Paul’s main focus with Betr has been tied to its original content: how the online sports betting operator has sought to acquire customers.

Betr, not to be confused with an Australian sportsbook with the same name, went live in Ohio in January. It has also received licenses in Massachusetts and Virginia.

Earlier this month, Betr said it would begin offering pregame markets?that traditional sportsbooks offer on their sites.

The post Jake Paul Out $100K to the SEC for Not Disclosing Crypto Endorsement Payment appeared first on Casino.org.

Bills have been filed in both chambers of the Tennessee General Assembly that would eliminate the state’s 20% tax on revenue and replace it with a handle tax. That means the state would get a cut of each bet placed, regardless of whether the operator or the bettor wins.

Senate Bill 475, sponsored by state Sen. John Stevens (R-Huntingdon), would set the tax at 2%, while the House bill proposed a 1.85% tax. Both versions would also allow operators to deduct the .25% federal excise tax they pay on their handles but not any promotional credits.

If lawmakers approve either, Tennessee would become the first state to levy a sports betting tax by handle.

House Bill 1362, sponsored by state Rep. Andrew Farmer (R-Sevierville), also amends the annual license renewal fee structure. Rather than all operators paying $750K a year to take bets in Tennessee, only those sportsbooks that report a handle of $500 million or more in a calendar year would pay that rate.

Those accepting more than $100 million in wagers but less than $500 million would pay $500K, and operators who post handles of less than $100 million would pay $250K.

Any new licensee will still have to pay the $750K fee the first time when the state approves their application.

Both bills also eliminate the 10% mandatory hold the state enacted when creating its sports betting regulations nearly three years ago.

‘Business Friendly’ Key in Tennessee

Farmer reassured colleagues in a House committee meeting earlier this month that the proposed changes won’t be too severe. At the same time, he said the state’s not trying to “poach” the sportsbooks.

It’s going to make plenty of money,” he said. “We just want to try to be as business friendly as possible because the more money these folks make, the more tax revenues are going to be there.”

Both bills continue to work their way through their respective chambers. Farmer’s bill gets a hearing Wednesday in the House Finance, Ways, and Means Subcommittee. Stevens’ legislation goes before the Senate Finance, Ways, and Means Committee next Wednesday.

Revenues Reaching Record Highs

A review of reports published by the Tennessee Sports Wagering Advisory Committee (SWAC) shows that if either chamber’s handle tax was in place for 2022, the state would have made a little more money for the year. That’s also based on how Stevens described how the tax would work, with sportsbooks taking the .25% excise tax off the total handle and then taxing the remainder at 2%.

Tennessee sports bettors wagered $3.85 billion last year, and sportsbooks paid $9.6 million to the federal government.

For the calendar year, SWAC reported Tennessee received almost $68.1 million in tax revenue. The Senate’s tax plan would have generated about $76.8 million, an increase of about $8.8 million. The House’s lower tax would also have resulted in a modest gain, as the state would have received $71.1 million.

The House bill also reduces the state’s revenue from license fees since few of the 13 licensed operators would have had handles exceeding $500 million last year. Unlike several states, SWAC doesn’t break down handle and revenue by operator. Still, it’s a safe bet to assume FanDuel and DraftKings command the highest market shares – just as they do in nearly every other state – and several of the remaining licensees would likely pay one of the lesser two amounts.

One important thing to note is that the tax change comes as sportsbooks post their highest revenue totals ever in the state. The six highest revenue totals have come in the last six months, with the record being $47 million in December.

Based on Casino.org’s calculations, when the state posted a record handle of $440.4 million in December, either chamber’s handle tax would have generated less revenue for the state. Based on the last six months of reports – from September 2022 to February – the House’s handle tax would have produced less revenue in four of the six months, and the Senate’s plan would have in three.

A Handle on Tennessee’s Future

While sportsbooks and state leaders hope they can continue increasing interest and driving up the monthly handle totals, those figures could take a hit in the not-so-distant future.

Only two of Tennessee’s neighbors, Arkansas and Virginia, currently offer mobile sports betting. Two others, Mississippi and North Carolina, allow it at brick-and-mortar casinos. Mississippi, North Carolina, Georgia, Kentucky, and Missouri?have discussed legalizing online wagering in their states. Some of those states still have a chance to pass bills this year.

The discussion of a handle tax comes at a curious time, especially since revenues are peaking and handles are uncertain.

For now, though, it’s a bet Tennessee lawmakers appear willing to make.

The post Tennessee Considers Handle Tax as Sportsbook Revenues Peak – Analysis appeared first on Casino.org.

Monday was supposed to be the deadline for the school to respond to a March 2 letter it received from the Commodity Futures Trading Commission (CFTC). In that letter, the federal agency said it rescinded an August 2022 notice in which the CFTC announced it was pulling the 2014 no-action letter that had enabled PredictIt to operate in a limited fashion.

“Victoria University of Wellington has not yet responded to the letter from the CFTC,” the university told Casino.org in a statement Monday night ET (Tuesday afternoon in New Zealand). “The CFTC has extended the date by which the University is to respond to 5 April 2023.”

Earlier on Monday, a commission spokesperson told Casino.org the agency could not comment beyond what it has said in court filings and other public documents.

CFTC Court Filing Due This Week

The CFTC wants the Fifth Circuit to lift an injunction it placed on the agency earlier this year at the request of PredictIt and other plaintiffs in a federal lawsuit filed to keep the exchange alive. By revoking the original letter, the agency now says the injunction is moot and the appeal should be dismissed.

The exchange was joined by Aristotle International, a Washington, DC-based political technology firm, and several traders and researchers who use the exchange in the lawsuit originally filed last September in a US District Court in Texas.

Monday’s deadline was one of two key dates this week in the ongoing case between the CFTC and PredictIt. On or before Thursday, the CFTC must file its rebuttal to the plaintiff’s response to its call for terminating the injunction and the appeal.

Plaintiffs Claim CFTC Violated Injunction

Just as the CFTC called out the plaintiffs for not divulging that PredictIt and Aristotle knew about the CFTC’s claims before the August letter, the plaintiff’s response filed last week called out the agency.

The plaintiffs argue that the CFTC had “at least seven” filings before its March 3 filing where it could have provided that information, but it never brought that up.

Rather than dismiss the case, the plaintiffs want the court to find the CFTC in contempt for what it said is a violation of the injunction.

“The CFTC is proposing that the parties start all over again because it saw the writing on the wall and wanted to duck a feared ruling from this Court and to carry on its war against the PredictIt Market through other means,” the plaintiffs wrote. “The problem is that this Court had enjoined such behavior.”

The plaintiffs seek attorneys’ fees incurred for responding to the motion plus “any costs associated with nervous investor behavior” due to the CFTC’s actions.

“Violating injunctions has consequences, and they typically exceed a government agency simply having to apologize,” the filing stated.

How CFTC Actions Have Affected PredictIt’s Markets

On Friday, Casino.org spoke with Pratik Chougule, an author, a foreign policy political consultant, and host of the Star Spangled Gamblers podcast. He’s also a trader on the PredictIt exchange.

Chougule told Casino.org that several traders opted to exit the market shortly after the August letter, and some more chose to leave after the midterms concluded. Because of that, it’s caused liquidity in the markets to drop.

I think that traders overreacted,” he told Casino.org. “I think that for the time being until, as we discussed, the legal case really has exhausted itself, I see no real reason to withdraw any money on here – unless you want to anyway. So, I have not withdrawn my money, and I urge anyone on PredictIt to stay with it.”

Chougule also called out PredictIt and its organizers for a reputation of poorly communicating with traders that has created “a credibility gap” for the market. And, while PredictIt has tried to rally traders to support its case against the CFTC, operators have yet to inform traders on how to close down markets if that step becomes necessary.

PredictIt does not charge traders a fee to create an account, but it does take a 10% fee on profits when traders sell their shares for a higher price than they initially paid. The exchange also levies a 5% fee for withdrawals.

Chougule said he’d recommend that organizers cut or do away with the withdrawal fee.

“If they were to do that, I think it would help them in their legal case, too,” he said. “It would make it easier for them to show that there have been real repercussions here if there were a flood of exits, but I think the market would also be more efficient. It would be easier to show the public interest value (of the exchange). And then, if the case were not to go their way, they would actually have an easier problem to resolve rather than the mess that they’re going get into if they don’t win. So, it’s not too late for that.”

The post PredictIt Founder Gets More Time to Respond to CFTC Claims as Lawsuit Continues appeared first on Casino.org.

The Knights stunned Purdue 63-58 in a first round game in Columbus, Ohio. While FDU wasn’t the first to pull a shocker, UMBC knocked off Virginia five years ago for that honor. The Knights were 23.5-point underdogs to the Boilermakers before tipoff. That makes them the biggest point spread underdog to score an outright win.

Incredible win for us,” FDU coach Tobin Anderson told reporters after the game. “Incredible win for our program, our school. Hard to put it in words right now. Honestly, it’s really hard to even — it just happened, right?”

It happened alright, and a lucky few made bank, according to the sportsbooks.

That includes Barstool Sports founder Dave Portnoy.

Portnoy tweeted a bet slip showing a $4,000 bet on FDU to win straight up at +1400. That produced a $56,000 profit.

This was a gambling legacy game. I will forever be the person who picked a 16 seed to upset a 1 seed straight up. https://t.co/93OyrdYrHM pic.twitter.com/rhw6SyjfOc

— Dave Portnoy (@stoolpresidente) March 18, 2023

Big Payouts for FDU March Madness Upset

Portnoy might want to make room on his throne for other bettors who cashed in. They may not have topped his payday, but they scored better odds.

DraftKings reported one bettor put $250 on the Knights moneyline, +2000. They ended up netting $5,000. Caesars Sportsbook announced someone in Indiana – probably not a Purdue fan or alum – dropped $500 on FDU at the same odds.

Meanwhile, FanDuel said that it had one user who wagered $2,000 on the +2000 moneyline, earning them a tidy $40,000.

The Knights were the biggest underdog, by far, to win this year, but they weren’t the only Cinderella staying around after the first round.

FDU’s upset came just a day after Princeton, another Jersey school, Princeton bounced Arizona from the Big Dance. The Tigers weren’t as big a dog, but the SuperBook reported it offered +800 odds on the upset, while Barstool offered +730.

While there were bettors across the country who scored a big win, ironically, none happened – legally – in New Jersey. While the Garden State created the sports betting boom five years ago, the state prohibited wagers on any of its college teams. That includes when they’re playing out of state.

Tide is High for Alabama

After last Sunday’s selection show, Purdue entered the tournament as the fourth choice at FanDuel, with odds of +1200.

The Boilermakers’ loss appears to be Alabama’s gain. At FanDuel, the Crimson Tide are the +500 favorite to win it all. Last Sunday, they were at +800. Over the same period, DraftKings knocked them down to +450.

If you think Fairleigh Dickinson may have five more wins in them for the season, you might want to check out DraftKings. They offered the underdog Knights at +50000, a far better price than +13000 over at FanDuel.

The post Fairleigh Incredible: FDU Pulls Off Historic March Madness Upset of Purdue appeared first on Casino.org.

Over the last few weeks, Steve Brubaker played 50 same-game parlays featured on the front page of FanDuel’s wagering app. Of those 50 $1 wagers, he won just once and lost more than $37. After that, he played 50 $1 lottery scratch-off tickets. He won eight times on those, including a $300 winner, but the other seven were worth $22.

Brubaker told Casino.org he decided to check out what FanDuel was doing after reading comments from the operator regarding the revenue it makes off its front page. He figured they likely weren’t good bets, but even he thought he’d do better than his 1-for-50 run.

With a couple of exceptions, Brubaker’s wagers came from the top offering on a home page section. Others were parlays FanDuel promoted on a rotating series of banners on the top of its home screen.

He posted his results on Twitter daily and tagged FanDuel in his tweets, but he said he never heard from them once. Among the primary concerns he raised during his nearly two-month experiment was FanDuel offering premade parlays and not resetting the counter showing the number of people who played the wager as odds or legs changed.

Day 48 @FDSportsbook pregame SGP test. FAILED. 1 for 48!!!! See you tomorrow. pic.twitter.com/P4ngvU7G5M

— Steve Brubaker (@SteveBrubaker) March 11, 2023

How FanDuel Promotes Parlays

There’s no debate that FanDuel and other operators promote parlays, same-game or otherwise, including placing them in high-profile spots on their apps.

All operators have seen growth in that segment of the sports betting market. During a presentation to investors last November, FanDuel noted that more than 60% of the bets made on its platform are parlays. Thanks in part to more player production markets being offered, FanDuel bettors are playing parlays with more legs.

In response to Brubaker’s work, a FanDuel representative told Casino.org that the section where Brubaker selected most of his wagers highlights popular same-game parlays made by bettors. In other words, they weren’t created by anyone employed by the sportsbook.

There are also a couple of contingencies. FanDuel shows parlays with odds no higher than 20-1, and once another parlay receives a higher number of wagers, that will become the top parlay listed at the top of the section. The trading team may remove the bet from the front page if the liability exceeds the threshold. An individual could still place that wager by going to the specific game and creating it themselves.

Brubaker provided a list of his bets and the odds he received. On six of them, his odds were above 20-1, ranging from +2017 to +2454. The parlays Brubaker placed from January 20 through March 13 had average odds of +1087, meaning a $1 winning bet would have netted him $10.87.

Those odds have an implied probability of 8.4%, or more than four times Brubaker’s win rate.

While the FanDuel rep didn’t know the exact odds of Brubaker’s bets, they said he may have just encountered a run of bad luck during the time he placed his bets.

FanDuel does create some same-game and other parlay wagers. Those are typically given a title or are based on a theme. The representative said top trading executives urge their content teams to create wagers they would bet on a high-profile game.

FanDuel traders cannot make bets through the company’s platform.

Brubaker Wants Changes

Brubaker told Casino.org that he has no problem with bettors choosing their parlay selections. Still, if FanDuel promotes some premade wagers, regardless of how they were created, the counter showing the number of people who have placed that wager creates an inducement to make that bet.

He also wants to see the odds posted for each leg of the parlay. He said that would show bettors if a particular selection within the wager has substantially higher odds than the other legs.

Odds are irrelevant if the SGPs are made or selected to lose,” he told Casino.org.

He also wants regulators to study data and see if parlays promoted on the front page have a significantly different win rate than those created by bettors.

Brubaker ended his experiment this past week and now focuses on his day job. He noted that his work on this experiment was more time-consuming than some may realize, but still, he prides himself on exposing what he thinks are bad practices in the industry.

“I’m always going to look for something that doesn’t feel right,” he said.

The post FanDuel Responds to Same-Game Parlay Betting Project, Says Most Wagers Were Created by Bettors appeared first on Casino.org.

During his weekly press conference, Gov. Andy Beshear (D) told reporters that he signed House Bill 594. Sponsored by state Rep. Killian Timoney (R-Nicholasville), the legislation prohibits establishments from hosting the gaming machines that have popped up statewide in recent years. Those who violate the law face fines of up to $25K per device, including anyone who owns, operates, finances, supervises or manages a machine.

On the other side are the game manufacturers, distributors, businesses, and organizations hosting the machines. They claim the games are legal and don’t violate state law, with companies like Pace-O-Matic and Prominent Technologies seeking permission from county authorities before working with convenience stores, restaurants, and other establishments. They call them skill games because players can use their memory and hand-eye coordination to win each time they play.

Representatives from veterans’ fraternal organizations said the machines have eaten away at their gaming operations, which has reduced their capabilities to contribute to civic causes. Businesses that host the games say they are a vital source of revenue that helped many of them stay afloat during the pandemic.

Beshear Doesn’t Believe Games are Legal

Beshear told reporters that he considers himself a “pro-gaming governor,” but that comes with ensuring that the state regulates legal offerings.

While he supports the sports betting bill currently in the Senate, and said, “It’s time we have full-blown casino gaming,” the governor couldn’t extend that support to the machines he described as gray games.

They’re entirely unregulated,” Beshear said. “I don’t believe that they were legal, yet they came into Kentucky and just set up and were taking dollars from Kentuckians and taking them out of State with zero regulation, zero taxation, zero system to help those that might develop any issues from using them for gambling.”

With Beshear signing the bill into law, the machines will officially become illegal and must be removed from establishments when the law officially takes effect 90 days after the General Assembly session wraps up.

The final day of the session is March 30.

In a statement, Wes Jackson, president of the pro-skill games Kentucky Merchants and Amusement Coalition (KY MAC), called out HB 594 as “anti-free market, anti-small business, and anti-Kentuckian.” He added the group, which represents hundreds of game-hosting establishments from across the state, is continuing to review its options.

AGA Sees Kentucky Law as ‘Springboard’

Passage of HB 594 caught the attention of the American Gaming Association (AGA), which has been calling on states and the federal government to take action against illegal gaming operators. According to the association, Americans bet more than a half-trillion dollars in the illegal market, including on gray machines.

“This win is a testament to what we can accomplish when we unite as an industry behind a common cause—and the American Gaming Association will use it as a springboard to pursue similar success in states throughout the country,” Miller wrote.

Back from the Brink

Two weeks ago, HB 594 faced an uncertain fate after a plurality of lawmakers voted to table the bill. That charge was led by state Rep. Steven Doan (R-Erlanger), who sponsored House Bill 525 to create a state gaming commission to regulate and tax the machines. That bill hasn’t received a committee meeting.

On March 9, House leaders succeeded in reviving the bill and getting out of the chamber by a 64-32 vote. On Tuesday, the Senate Licensing and Occupations Committee approved the bill, with the full Senate passing it later that same day, 29-6.

KY MAC’s Jackson called out lawmakers who voted for the ban.

“Those who backed this ban love to say they passed it because skill games need to be regulated, yet at the same time, wouldn’t even give our regulation bill a hearing,” he said.

The post Kentucky Gov. Andy Beshear Signs AGA Heralded Gray Games Ban Bill Into Law appeared first on Casino.org.

The US-based startup that launched in Ohio in January and focused solely on in-game markets, also known as micro-betting, announced Wednesday afternoon that it will begin offering moneyline, point spread, and totals markets on games. Those markets will be available before and during games.

In a statement to Casino.org, Betr co-Founder and CEO Joey Levy said the company focused on micro-betting first to expedite its launch in Ohio and establish a brand identity of not being a cookie-cutter operator in the industry.

Now that we have done this successfully, we are putting Betr on a path to establishing betting market coverage product parity with incumbent operators, which will include the gradual and methodical integrations and launches of core markets, parlays, props, and many of the other betting experiences consumers can find elsewhere,” he said.

Levy added the new markets will be provided by Simplebet, another micro-betting venture he also helped establish. It will be the first time Simplebet has provided those wagering opportunities to a sportsbook.

The move to offer more traditional betting markets isn’t a surprise. In an interview with Casino.org last October, Levy mentioned the company planned to “layer in” other offerings.

Since its launch in Ohio, Betr has found its average customer has made more than 25 bets on the app, with more than 90% making multiple wagers.

No Juice Markets on NCAA Tournament Games

Betr is a $50 million startup established by Levy and Jake Paul last August. In addition to the focus on micro-betting, the company has also focused its customer acquisition and retention strategy by targeting casual sports fans through unique content distributed through its social media channels.

From a betting perspective, Betr has focused on offering markets in baseball, basketball, and football.

While play-in games started Tuesday and continue Wednesday, the tournament begins in earnest shortly after noon ET on Thursday, with 32 opening-round games taking place through Thursday night.

The NCAA Tournament, nicknamed March Madness, is one of the most popular sports betting events in the US. Earlier this week, the American Gaming Association released a study indicating 68 million American adults plan to wager on tournament games or enter a bracket contest.

Betr Set to Expand Into Other States

Betr’s announcement to offer pregame bets and in-game moneylines, totals, and point spreads comes just a week after the Virginia Lottery Board approved the company for a sports betting license in that state.

It also has been approved for an online license in Massachusetts. The Bay State allowed operators to launch there last week, but Levy said the company will hold off on unveiling the app there for the time being.

The post Betr Adds Traditional Sports Betting Markets as Startup Prepares to Expand appeared first on Casino.org.

The Senate Licensing and Occupations Committee’s 9-1 vote on House Bill 551 now means the measure is a Senate floor vote away from likely becoming law. It’s widely expected that Gov. Andy Beshear (D) would sign the bill into law, especially since it was a major part of his campaign platform four years ago.

Wednesday’s hearing was the first time a Senate committee considered a sports betting bill. A bill passed in the House last year failed to get a hearing before the session ended.

Challenges to Passage Remain

While the lopsided committee vote even exceeded supporters’ expectations, a couple of significant hurdles still remain before Kentuckians no longer have to cross into one of the six neighboring states to wager legally.

First, the measure will need 23 “Yes” votes in the 37-member Senate to pass. That’s because of General Assembly rules that require any bill that generates revenue or allocates money to receive a three-fifths majority in odd-year sessions. The legislature passes two-year budgets in every even-year session.

Second, time is running out for the bill to be approved. Including Wednesday, there are four legislative days left in the session. What will help, possibly, is a veto recess period that starts on Friday. That will give bill sponsor state Rep. Michael Meredith (R-Oakland) and other supporters nearly two weeks to gain the support they need to pass it when lawmakers return on March 29-30 to conclude the 30-day session.

If lawmakers approve the sports betting bill, Kentucky’s nine horse racing tracks would be able to offer brick-and-mortar sportsbooks at their locations. They could also partner with up to three mobile operators each.

From ‘Darkness’ Into ‘Light’

Meredith laid out the basics of the bill before the panel.

“What it does is it creates a regulated marketplace for sports wagering,” he said. “It takes this activity out of the darkness, out of the shadows, and into the light.”

The tracks would pay $500,000 to receive a license and $50,000 annually to renew it. Operators would pay $50,000 for their licenses and $10,000 annually to renew.

The state would tax retail sports betting revenues at 9.75% and online revenues at 14.25%. Most of the money would be applied toward the state’s public pension plans, but 2.5% of the tax revenue would go to a problem gambling education and prevention fund – a first of its kind for Kentucky. Tax and license money would also cover the KHRC’s oversight of sports betting.

The only deductions allowed would be related to the .25% federal excise tax placed on each wager. In addition, the bill would make it a Class C felony if anyone tried to manipulate the outcome of an event.

The primary opponent of Kentucky’s sports betting bills has been The Family Foundation. Its leader, along with other religious leaders and anti-gaming stalwarts, spoke out against HB 551 on Wednesday.

Family Foundation Executive Director David Walls said legalizing sports betting would serve as an “expansion of predatory gambling” and a sudden step back after lawmakers moved to ban so-called gray games or skill machines in the state.

While working to keep convenience stores from becoming “mini-casinos,” allowing online sports betting would create millions of digital casinos in the hands of residents. He also called on lawmakers to protect children.

“Make no mistake, despite any attempts to protect children from this highly addictive form of gambling,” Walls said. “Commercialized sports betting harms children and radically changes the way that children view sports.”

‘My Constituents Want This’

Debate and discussion during the L&O committee meeting was brief. Some, like state Sen. Denise Harper Angel, D-Louisville, felt the state has left “money on the table for far too long.” Others, like state Sen. Donald Douglas, R-Nicholasville, voted to approve so discussion could continue on what he called “a tough” bill for him.

Many, though, felt legalizing sports betting is appropriate since six of Kentucky’s seven neighbors already allow it, and as data from GeoComply shows, thousands of Kentuckians are crossing state lines to place wagers in those states.

We can’t stop people from doing things that are bad for them,” Majority Floor Leader Damon Thayer, R-Georgetown, said in explaining his vote. “There are a lot of behaviors out there that done in excess are bad for people, but my constituents want this. The people of Kentucky want this. It’s time that we give them the choice for free will – God-given free will – to engage in legal sports betting.”

The only “No” vote in the committee was from Chairman John Schickel, R-Union. Schickel did not explain his vote. He was also the chairman of the committee last year and refused to give House Bill 606 – last year’s sports betting bill – a hearing in the session’s final days. The bill was moved to another committee but did not get a hearing before the session ended.

Another committee member would have voted against the bill at the special called committee meeting. However, state Sen. Jimmy Higdon, R-Lebanon, attended a meeting of the Senate Transportation Committee, which he chairs, held at the same time. Higdon told Casino.org after his committee meeting that his preference is for voters to decide on gaming matters through a constitutional amendment.

The post UPDATED: Kentucky Sports Betting Bill Clears Senate Committee for First Time appeared first on Casino.org.

Neither the New York Assembly nor the Senate included language to include online casinos in their versions of the state budget. Those proposals, called “one house budgets,” were released Tuesday and serve as the chambers’ responses to Gov. Kathy Hochul’s $227 billion spending proposal announced last month.

Hochul didn’t include iGaming in her budget draft, either.

Last week, state Sen. Joe Addabbo (D-Queens) told Casino.org that discussions to legalize iGaming would stop for the year if it didn’t make the cut in either budget proposal.

Addabbo had hoped to parlay the momentum he believed had been built in the last two legislative sessions to allow online sports betting and expedite the process to award the state’s last three commercial casino licenses into a push for iGaming.

“If you want to give up a billion dollars a year in lost revenue to other states and the illegal market – if you want to do that – go ahead,” Addabbo said.

The senator also said that legalized iGaming would be a better way to secure money for the state’s Metropolitan Transportation Authority (MTA) than Hochul’s proposal to use revenue from the downstate casinos, especially since those tax dollars may not come to fruition for several years.

Lawmakers Disagree on Downstate Casino Taxes, Belmont Plans

While there was no talk of iGaming, the Assembly and Senate budget plans did include other gaming issues. However, the two bodies don’t see eye-to-eye on all those matters.

For example, the Assembly said it backs the governor’s plan to use downstate casino tax money to shore up the MTA’s budget, which faces potential billion-dollar shortfalls in upcoming years.

That, though, is not a unanimous position.

“The Senate modifies the Executive proposal to direct funding from downstate casino licenses to the Metropolitan Transportation Authority (MTA) by ensuring that recurring casino tax revenues will be dedicated to education,” the Senate’s budget summary states.

The Assembly and Senate also want to change Hochul’s plan to loan NYRA $455 million to overhaul Belmont Park.

Assembly leaders, though, want to eliminate the requirement that the Queens track closes once the Belmont work is finished.

Under the governor’s proposal, Belmont would close during the renovations and would take three years to complete. The new Belmont would resume its traditional spring and fall meets while adding Aqueduct’s winter and early spring schedules after the state retakes the more than 100 acres near JFK.

New York Budget Deadline Looming

The unveiling of the one-house budget traditionally serves as the formal beginning of budget negotiations between lawmakers and the governor’s office.

The legislature didn’t approve last year’s budget until April 9, and the 2021-22 plan wasn’t approved until April 6, 2021.

The post New York iGaming Chances Fading Fast as Lawmakers Exclude it From Budget Plans appeared first on Casino.org.

The Senate on Tuesday voted 29-6 to pass House Bill 594, which seeks to ban the machines that have sparked debate over the last couple of years across the state.

However, representatives from the horse racing industry and charitable gaming groups have protested their presence, claiming the machines are illegal. Opponents of the machines say the other side only discussed seeking regulation and taxation in response to efforts to ban the games outright.

Last year, both chambers passed a bill sponsored by state Rep. Killian Timoney, the Nicholasville Republican who also championed this year’s bill to ban the games. However, the Senate amended Timoney’s bill last year, and lawmakers could not reconcile the bill before the session ended.

While this year’s bill will go before Beshear, who has indicated his support for the measure, it’s likely to face a legal challenge from businesses that host the machines.

It’s also possible supporters in the legislature will come back with a bill to regulate and tax the machines. Two House lawmakers filed such bills this year, but neither received a committee hearing.

Quick Action in the Senate

The Senate wasted little time in handling the bill. The Licensing and Occupations Committee voted 8-2 Tuesday morning to refer HB 594 to the full body, which took it up hours later.

The skill-or-gray debate was not as contentious in the Senate as in the House, where opponents to a ban initially succeeded in tabling the bill, only to have proponents revive it last week and pass it 64-32.

Still, even one supporter of the measure called out the “hypocrisy” after the General Assembly to codified historical horse racing (HHR) two years ago after a Kentucky Supreme Court opinion threw their legality in doubt.

I sure wish the passion for stopping these machines had been here two years ago, because it is the exact opposite scenario,” state Sen. Whitney Westerfield, R-Fruit Hill, said on the floor while explaining his vote. “Instead of wanting to help an industry, we’re trying to stop an industry, and I don’t like either of the industries.”

The Kentucky Horse Racing Commission (KHRC) approved regulations for HHR machines in 2010. The commission then sought a legal opinion that it had the authority to allow tracks to host the slot machine-like games that use previously run races to determine the outcome of a wager rather than a random number generator. Another distinction between HHR and Vegas-style slots is that HHR machines are considered parimutuel wagering, which is allowed under Kentucky law.

After the Supreme Court issued its opinion in September 2020, legislative leaders made a bill granting the KHRC the power to establish such games a priority in the 2021 session.

Reaction After the Vote

After the Senate’s vote, the Kentucky Merchant and Amusement Coalition (KY MAC), the group representing businesses that host the machines, issued a statement expressing its dismay.

It’s clear that some lawmakers are committed to putting the requests of one constituent, Churchill Downs Inc., over the needs of thousands of their constituents who are relying on the income of legal skill games,” KY MAC President Wes Jackson said in the statement. “We thank those lawmakers, in both chambers, who voted against HB 594, standing up for Kentucky small businesses in the process.”

Prominent Technologies issued a statement after the vote saying it wouldn’t “give up the fight for” Kentucky small businesses and reiterating its claim the games are legal under Kentucky law.

Meanwhile, the Kentucky Equine Education Project (KEEP) thanked lawmakers for coming together to act.

KEEP, along with many other organizations, worked closely with legislators to ensure that they understood the negative impact of illegal gray machines on families, communities, and on Kentucky’s legal forms of gaming,” the group said.

Timoney initially filed this year’s bill with an emergency clause that would have made the law, and as such, the ban would have become effective immediately. That provision was removed in a House amendment, so if Beshear signs it, it would not become law until 90 days after the session ends on March 30.

The post Kentucky Gray Games Ban Bill Heads to Governor After Senate’s Quick Approval appeared first on Casino.org.

The 63-34 vote on House Bill 551 cleared the three-fifths majority supporters needed to get since the bill generates revenue and makes appropriations in a nonbudget year.

Retail sports betting revenues would be taxed at 9.75% of adjusted gross revenues, while online operators would pay a 14.25% tax. The only deductions allowed would be for the .25% federal excise tax the federal government places on each wager.

It’s the second straight year the House has passed a sports betting bill. Once again, the bill now heads to the Senate, where last year’s bill died after failing to get a committee hearing or a floor vote before the session ended. This year, the bill will need 23 “Yes” votes to pass in the 37-member Senate.

Supporters are expressing optimism for this year’s bill, even as just five legislative days remain in the session.

State Rep. Michael Meredith, R-Oakland, the bill’s primary sponsor, believes they are just a couple of votes away from the 23 they need to pass the bill in the Senate this year.

Problem Gaming Fund Added to Bill

One reason for Meredith’s optimism is what was included in a House floor amendment on Monday. That bill included a provision for a problem gaming fund, which received 2.5% of the annual tax revenue.

That was explicitly added, Meredith said because a couple of senators requested it.

Hopefully, that’ll shore up those (votes), and we’ll narrow it down,” Meredith told Casino.org after the bill’s passage.

The problem gaming fund was one that state Rep. Al Gentry (D-Louisville) had championed. Gentry has been the primary co-sponsor on sports betting legislation in the House.

Gentry filed a bill earlier in the session that would have created a problem gaming fund that would have received money from all sectors of legal gaming in Kentucky. While this fund would only be covered by sports betting tax revenue, he told Casino.org he was still delighted to see it inserted.

Kentucky is one of a few states that does not have a problem gambling fund.

“I put a lot of work into pushing that for a few years now and glad to see it’s in there,” he said.

Meredith and state Rep. Matt Koch (R-Paris) have discussed bringing up a more comprehensive problem gaming fund for next year’s session.

While the House passed Meredith’s floor amendment, two others brought by a bill opponent failed.

State Rep. Josh Calloway (R-Irvington), sought to ban the use of credit cards for sports betting deposits and raise the minimum age to place a wager on a sporting event from 18 to 21. Both measures failed, with the age change falling by a 39-48 vote.

Calloway, after his amendments were defeated, said on the floor that he would not stop fighting for Kentuckians, especially against things that can “destroy people’s lives permanently.”

Time Running Out in Kentucky General Assembly

Supporters of the sports betting bill received good news last week when an advanced agenda for Tuesday’s Senate Licensing and Occupations Committee hearing included HB 551.

Following Monday’s vote, Meredith said the committee may not take up his bill until possibly Wednesday. The Senate L&O Committee is also expected to take up the gray/skill games bill that passed the House last week and a bill that would legalize medical marijuana.

While Meredith and other supporters express optimism about the bill’s chances, the clock is running out on this year’s session.

The session will conclude on March 29-30.

Another thing the bill has in its favor is Beshear’s support. He campaigned four years ago on legalizing sports betting and reiterated that support earlier this year in his State of the Commonwealth address.

“I don’t think you’re going to see a veto,” Meredith said. “So, I think everybody’s pretty comfortable sitting it down until after the veto period.”

The post Kentucky House Passes Sports Betting Bill By Nearly 2-to-1 Margin appeared first on Casino.org.

This week, the legislative chambers are expected to produce their versions of the 2023-24 budget. If neither the Assembly nor the Senate includes the plan to offer online casino gaming, “then we’re done” for this year, said Addabbo, who chairs the Senate Racing, Gaming, and Wagering Committee.

Gov. Kathy Hochul (D) released her budget proposal last month, and that $227 billion spending plan did not include iGaming legalization.

Addabbo, though, remains hopeful and sees an opportunity for iGaming this year because of the New York Metropolitan Transportation Authority. The MTA, which manages bus, subway, and commuter rail services for New York City, Long Island, and other parts of downstate New York, will soon face billion-dollar shortfalls. Agency leaders and state officials have been working to identify a revenue stream to prevent substantial cuts in service.

Hochul’s budget calls for the MTA to receive a portion of the money the state will receive from the three new casinos that are expected to be licensed, perhaps as early as the end of this year.

“We in the Assembly and the Senate will reject that, but I have an alternative,” Addabbo told Casino.org. “I’m not going to just say no to the governor. I’m going to give her a better alternative. With iGaming, we could do it faster.”

iGaming Bills Faltering in Midwest States

The last state to approve iGaming was Connecticut, and that took place 18 months ago. Besides Connecticut, other states that allow online casino gaming are Delaware, Michigan, New Jersey, Pennsylvania, and West Virginia.

New York isn’t the only state where iGaming legislation has been filed this year. Lawmakers in Indiana and Illinois also filed bills, but Indiana’s iGaming measures are already dead after missing deadlines to be heard in either the state House or Senate. And none of the three iGaming bills filed by Illinois legislators have gained much traction.

Howard Glaser, the global head of government affairs for Light & Wonder, said the issue that has stymied iGaming’s acceptance in Illinois, Indiana, and even Iowa, is internal conflict within the gaming industry in those states.

There’s no legislative opposition in any of those states,” Glaser told Casino.org in an interview Friday. “There’s no legislative opposition to iGaming. The opposition is all driven in the statehouses by lawmakers saying to the industry, ‘Until you guys agree on what this looks like, we’re not going to pass anything. Otherwise, we’re going to be making somebody very unhappy in our state.’”

What’s also impacting passage in most states, Glaser said, is that those states don’t have the revenue needs for the time being, an issue that usually serves as a driver for gaming expansion. So this is more a time to educate lawmakers in potential iGaming states so that when the need for more revenue comes up, those legislators will be ready to support legalization.

New York: Fatigue or Momentum?

Glaser said the opposition in New York differs from the Midwest states where iGaming has been considered. There, the response is “it’s too much, too fast,” especially after the state approved online sports betting two years ago and expedited the casino process by a year. All three new casinos are expected to be awarded to downstate locations.

You cannot underestimate how much oxygen the expansion of the casinos in New York City takes up in the political process,” he added. “Even though the legislature is now not directly involved, it still is a very political process. So, you have a lot of attention being drawn to that, and I think, a little bit of concern that lawmakers don’t want to overwhelm the public with another gaming discussion.”

There are also some concerns being raised by unions, which are worried about iGaming apps eating away at the business of the new casinos, which will be built with union labor and staffed by union workers.

Still, given the state’s dire fiscal outlook, Glaser thinks New York will eventually approve iGaming, possibly even next year.

While Glaser admittedly sees some gaming fatigue in New York this year, Addabbo uses another word to describe the situation. Momentum.

“If mobile sports betting wasn’t doing so well, I would say there’s no appetite for (iGaming) in New York,”?the senator said. “But, when you have the number one product in the country in mobile sports betting, and globally now, New York is perceived as a gaming expansion state. You use that momentum, in my opinion, you use that momentum, and you build on it.”

The post iGaming Update: Addabbo Hopeful for New York as Bills Stall in Midwest States appeared first on Casino.org.

Alabama, Houston, Kansas, and Purdue earned the top seeds in the South, Midwest, East, and West regions, respectively. Not surprisingly, they’re also the top teams at FanDuel and DraftKings as of Sunday evening, after the draw was announced.

And while Houston was the No. 2 overall seed behind Alabama, both of the major sports betting operators have the Cougars ahead of the Crimson Tide as the overall favorite. FanDuel offers Houston at +500, and DraftKings has the Cougars at +475 as of Sunday night.

DraftKings had Alabama at +650, and FanDuel listed the SEC champions at +800. The Crimson Tide enter the tournament having won seven of their last eight games, and in Sunday’s SEC Tournament championship game, they avenged a loss in the regular-season finale to Texas A&M.

Purdue is +1200 at FanDuel and +1000 at DraftKings. Kansas, meanwhile, is +1000 at FanDuel and +1200 at DraftKings.

Houston Hopes to be Healthy on Thursday

Houston did lose Sunday to Memphis, 75-65, in the American Athletic Conference Tournament final. That ended a 13-game winning streak. But the Cougars were without leading scorer Marcus Sasser, who left Saturday’s semifinal early after sustaining a leg injury.

Cougars coach Kelvin Sampson told reporters after the AAC final that he didn’t see Sasser limping around when the team arrived Sunday morning at Dickies Arena in Fort Worth, Texas. However, he did not “put a high priority” on playing the 6-2 senior guard, who averages 17.1 points per game.

I don’t think I could have lived with myself had he played today and got hurt,” Sampson said.

Houston Chronicle reporter Joseph Duarte tweeted Sunday evening that Sasser said he was certain he would be ready for the team’s first-round game on Thursday against Northern Kentucky in Birmingham, AL.

Houston guard Marcus Sasser says he’s confident he will be 100 percent for Thursday’s NCAA Tournament opener

— Joseph Duarte (@Joseph_Duarte) March 12, 2023

This year’s Final Four happens to take place in Houston, which may factor some in the Cougars being the favorite. But Sampson, who has more than 30 years of experience as a college head coach, would have none of that on Sunday.

“No, Northern Kentucky is a hard team to play against,” said Sampson, who led UH to the 2021 Final Four. “Why would I even think that? It’s just who I am… What’s the chances of getting — for anybody, what’s the percentage chance that — how many 1 seeds got to the Final Four last year? I don’t know, maybe all of them, I have no idea.”

Parity Defines College Basketball 2023 Season

I have two words for anyone placing bets or putting a bracket for an office pool.

Good luck.

This season has been a topsy-turvy one, pretty much since it began back in November. The top-ranked team in the Associated Press Top 25 poll changed six times over the 18 polls conducted during the preseason and regular season. That includes North Carolina, the preseason No. 1 that failed to even make the tournament field.

Four different teams have been No. 1 this season. Nine have been ranked No. 2, and six have been No. 3.

Given the parity we’ve seen this year, this Big Dance may be the one to pick a lower seed to score a couple of upsets over the next three weeks.

Bluebloods Play Underdog Role This Year

I’ve got a couple of names in mind — names you surely wouldn’t consider as underdogs in the usual sense.

First, there’s Duke. The Blue Devils (26-8) made the Final Four last year in coach Mike Krzyzewski’s final season, and they came into this season as a top 10 team in the preseason under new coach Jon Scheyer. Injuries led them to fall from the poll in midseason. But they’ve gotten healthy and won nine straight over the last month. That includes a 59-49 win over Virginia in Saturday’s ACC Tournament final.

The Blue Devils received the No. 5 seed in the East Region. FanDuel has them at +3100, while DraftKings offers them at +3000.

The other team also will play in the East Region and is another blueblood in more ways than one.

Kentucky has been up and down for most of the season. Like, Duke, the Wildcats (21-11) were the No. 4 team in the preseason. But by the end of December, they played their way out of the poll. The Wildcats were also wildly inconsistent in the SEC. They managed two wins against Tennessee, but just when people would think John Calipari’s team finally figured it out, they’d lay a clunker – like a home loss to South Carolina, or one on the road at Georgia.

Twice in 10 days this month, UK lost to a Vanderbilt squad that missed the NCAA Tournament. That includes Friday’s SEC Tournament quarterfinals.

DraftKings had Kentucky at +4500 as of Sunday night, while FanDuel gave them odds of +3100.

Aside from that, the only other advice I can offer is use a dartboard to make picks. That might work as well as trying to handicap March Madness this year.

The post NCAA March Madness: Houston, Bama Favorites to Win NCAA – Opinion appeared first on Casino.org.

There’s no official date for the operator to launch in Virginia, although the company’s announcement said it would become available soon.

“We’re thrilled to receive approval for our sports betting license in Virginia, and appreciate the seamless work with the Virginia Lottery Board to bring our product to customers in Virginia,” said Betr CEO ?and co-Founder Joey Levy “This is an important milestone for us and we can’t wait to bring our differentiated product experience to sports fans throughout Virginia.”

Levy, who also was a founder of Simplebet, cofounded Betr with Jake Paul last August. At the time, they announced raising $50 million in funding from a combination of venture capital firms, sports franchise owners, entertainers, and former athletes.

Besides starting off offering strictly microbetting, or in-game, markets, Betr is also seeking to stand out from other sports betting operators by using social media to engage the casual sports fans it’s trying to target.

In addition, Betr has announced it would not accept any deposits via credit cards, and that bettors aged 21-25 would face deposit limits. Both of those moves, the company said, are efforts to promote responsible gaming practices.

Holding Off in Massachusetts

Betr launched in Ohio in January and received approval for an online sports betting license in Massachusetts.

Massachusetts allowed online operators to launch their apps starting Friday. While Betr could have gone live at the start, Levy issued a statement online explaining why they’re waiting until next month.

Our priority is always to provide the best possible experience for our prospective customers, so we want to ensure we have all of our ducks in a row before going live,” he said. “We will still likely be the 7th operator to launch in Massachusetts, which we are proud of, particularly given our size and scale.”

Launching in April would still allow Betr to capitalize on most of the MLB season and offer odds on action during the NBA playoffs.

Betr Says Ohio Start Exceeded Expectations

According to the Ohio Casino Control Commission, Betr posted a handle of $1.1 million. That ranked 14th out of the 16 online operators in the Buckeye State. While the handle was a small portion of the $1.1 billion wagered in the state, it also did not formally launch in Ohio until the middle of the month.

The company also announced that Betr’s average user placed more than 25 bets in January. More than 9-in-10 made multiple wagers, with more than half of its consumer base making 10 or more wagers and 13% making 50 or more.

The post Betr Receives Virginia Sports Betting License, Delays Massachusetts Start appeared first on Casino.org.

NeoGames provides player account management (PAM) services in the state for Caesars Sportsbook. It applied for its Indiana license on June 8, 2020, according to IGC records. It received a temporary license three months later and has received two renewals of that temporary license.

IGC Executive Director Greg Small told commissioners that IGC staff has raised issues about its suitability for permanent licensure. In particular, the concerns regard a “substantial owner” of the company headquartered in Tel Aviv.

“Staff and applicant have been working to resolve these concerns, but I regret to inform the commission that we do not have a resolution at this time,” Small said.

The continued delay frustrated IGC Chairman Milton Thompson, who said the review seemed to be taking “abnormally long.” Other commissioners felt the same way.

This looks like a matter that we’ve been kicking the can down the road, or all parties have, and it’s time for everybody to show their hands,” Commissioner Michael Williams said.

Thompson called on the commission staff to provide “a definite plan of action” by the time it comes before the body in June.

Messages sent Thursday to NeoGames and Caesars seeking comment were not returned.

NeoGames Expanding in US

The partnership between NeoGames and Caesars dates back nearly five years. In October 2018, NeoGames reached a deal with William Hill to provide PAM services for the company’s online sportsbooks. Two years later, Caesars Entertainment announced its acquisition of William Hill. Last year, Caesars sold William Hill’s non-US assets to 888 Holdings.

When it purchased William Hill, Caesars acquired a 24.5% ownership share in the iGaming and iLottery services provider. It divested from that position by March 2022.

“Launching our content with them in New Jersey is a huge statement of intent for us regarding our plans for North America, and we very much look forward to developing this relationship,” NeoGames President Tsachi Maimon said.

NeoGames mentioned Pariplay also expects to provide content for DraftKings iGaming operations in Michigan and West Virginia, with the possibility for additional states pending regulatory approvals.

IGC Fines Ameristar, Horseshoe Casinos

Also at Thursday’s IGC meeting, commissioners approved disciplinary actions against 20 vendors, companies, casinos, and sports betting operators.

The two biggest fines were levied against Ameristar Chicago, which operates a casino in East Chicago. The IGC charged the Penn Entertainment Casino on five counts and fined $37,000. The most serious violation stemmed from a sportsbook supervisor accepting wagers from players via text messages without collecting payment.

Horseshoe Hammond agreed to a $34,000 fine covering five counts against it. The most serious charge was the Caesars casino laying off 16 individuals without first seeking IGC approval. The order stated the casino notified IGC about its intent to lay off workers. Commission staff responded that such a move would only be approved if casino leadership followed the routine procedure.

Last August, Horseshoe reported the positions to be eliminated, including a marketing director and an executive sous chef. However, by the time Horseshoe filed its report with the IGC, those positions were already eliminated and the workers in those roles were let go.

The post Indiana Gaming Commission Raises Concerns Over NeoGames 2020 License Application appeared first on Casino.org.

In a statement issued Thursday morning, the Colorado Division of Gaming said it was responding to “the inaccurate representation” in the article that the professional wrestling organization was talking with the division about allowing sportsbooks to offer betting markets on its matches.

Unlike sporting events, WWE matches are scripted with predetermined outcomes.

The Colorado Division of Gaming is not currently and has not considered allowing sports betting wagers on WWE matches,” the statement read. “At no time has any state gaming regulator in Colorado spoken with the WWE about including wagers on our approved wager list.”

The statement continued, noting that state statute forbids offering odds “on events with fixed or predicted outcomes or purely by chance.”

Michigan and Indiana Chime In

Hours later, the Michigan Gaming Control Board issued a statement saying there have been no “direct communications” with WWE employees or executives about allowing licensed sportsbooks in the state to offer markets. It did acknowledge “a third-party consultant” broached the topic with the board, but that was more than a year ago. Nothing progressed from that, the MGCB said.

MGCB Executive Director Henry Williams said any formal request to offer an event needs to come from a state-licensed operator or platform provider. None have done so.

“The WWE should work with the gaming industry if it wishes to bring a proposal before the MGCB,” Williams said.

On Thursday evening, an Indiana Gaming Commission spokesperson told Casino.org that it has “no interest in approving wagering on scripted events.”

Sports betting rules vary by state, with some permitting operators to offer more markets than others. That’s why some states, like Indiana and Michigan, can offer markets on the Academy Awards, while states like New York prohibit betting on such outcomes as a league’s Most Valuable Player recipient.

Major Sports Betting Operator Hesitant

The CNBC report was widely panned by many in the gaming industry after it was published.

Contessa Brewer, an anchor and gaming industry reporter for the network, tweeted Wednesday she got an NSFW response from BetMGM CEO Adam Greenblatt when she asked him during an iGamingNEXT session about his interest in offering bets on WWE events.

Late this afternoon, I asked @BetMGM CEO Adam Greenblatt whether he would be eager to take bets on @WWE scripted matches. His answer- and I quote “NFW!” (To audience laughter @IGamingNEXT ) @CNBC https://t.co/CpKrtp6x6I

— Contessa Brewer (@contessabrewer) March 9, 2023

The CNBC report noted that WWE officials have been working with Ernst & Young on the way to keep the scripts secure to prevent bettors from learning about outcomes before matches took place. It added that the organization would not tell wrestlers who would win until just prior to their match.

WWE, a publicly traded company, produces a highly popular product. During its fourth-quarter earnings call, executives told stock analysts last month that broadcasts for SmackDown and RAW, its weekly shows, are drawing an average of 3.9 million viewers combined for the 2022-23 television season. Both shows are seeing increases in viewership.

Pay-per-view audiences have also been strong, with January’s Royal Rumble’s broadcast audience 52% higher than the previous record crowd set last year.

Shows nationwide also fill arenas with crowds rivaling major professional and collegiate sports teams.

The post WWE Betting Report Bodyslammed by State Gaming Regulators appeared first on Casino.org.

The 64-32 vote to approve House Bill 594 capped a tumultuous few days in Frankfort that saw some in-fighting within the Republican Party, which controls 80 of the chamber’s 100 seats.

Opponents of the bill succeeded in tabling the measure Friday, a move that shocked sponsoring state Rep. Killian Timoney, R-Nicholasville, and several GOP leaders who support the bill.

Republican members caucused for hours on Tuesday and Wednesday before the House sessions for those days. There was also talk among Frankfort insiders in the Capitol hallways that the bill needed to be revived by Wednesday in order for it to be considered. At the same time, the House ordered readings of a second bill Timoney filed as a contingency.

That, though, was not needed as the House took action shortly after the recess ended Wednesday. A 66-10 vote took the bill off the table (Friday’s vote to table was 42-35), and moments later, with scant debate, the 2-to-1 vote moved the bill to the Senate.

Gray vs. Skill

The debate regarding the machines is a complex one.

Proponents of the games call them skill machines, noting that a player can win every time if they use their memory and hand-eye coordination. Game makers says they sent letters to leaders in all 120 counties seeking permission to offer their games to local establishments.

Opponents call them gray games, saying they’re unregulated and that operators brought the machines in stealthily. They fear the games will lead to increases in underage gambling and criminal activity. They say there are thousands of the games across the state, and more will come unless the state acts.

Kentucky has a long legacy of legalized gambling, but illegal gambling has never been in the best interest of our Commonwealth or its people,” House Speaker David Osborne, R-Prospect, said in a statement. “Today‘s House vote sends a clear message that there is no place for gambling entities that skirt the law in order to flood Kentucky with unregulated casino-style gaming without limit or oversight.”

The Kentucky Merchants and Amusement Coalition (KY MAC), which represents hundreds of small businesses that host skill machines in their establishments, derided HB 594 as a bill backed by Churchill Downs, which controls nearly 60% of the roughly 6,900 historical horse racing machines operational in the state, and other horse racing interests.

KY MAC President Wes Jackson noted the irony that the House passed the ban bill on the same day a House committee signed off on a sports betting bill that gives tracks control over that gaming market.

“It’s unfortunate that even after so many Kentucky small business owners contacted their legislators about the benefits of skill games, and even after it became clear that many House members were not in favor of voting on this legislation last week, that several lawmakers decided to call HB594 for a vote and pass it today,” Jackson said.

Senate Awaits the BillGra

HB 594 now moves to the Senate for its consideration. Senate Majority Floor Leader Damon Thayer, R-Georgetown, has strongly supported a ban bill.

Thayer told Casino.org Wednesday evening he hopes the bill can get to that chamber’s floor for a vote next week.

After Wednesday, there are eight legislative days remaining in the session. Six of those will occur between Thursday and the following Thursday, with the final days on March 29-30.

“We must restore the proper order, empowering the legislature to lead by drafting the laws that precede the addition of gaming in the Commonwealth,” Timoney said. “HB 594 represents hundreds of hours of effort by a number of stakeholders, as well as input from those for and against the proposal. We’ve talked to retailers and other business owners with machines, as well as law enforcement, state regulators, and even the gray machine companies. Ultimately, we made the decision to ban them entirely.”

Under the bill, those connected with the operation of the machines would be subject to a fine of up to $25,000.

If the bill banning the machines becomes law, it will likely face a court challenge, similar to one underway in Virginia, which has also moved to prohibit the machines in its establishments.

The post Kentucky Gray Games Ban Bill Senate Bound After House Whips Votes for Passage appeared first on Casino.org.

The statement issued by Culinary Union Secretary/Treasurer Ted Pappageorge came after The Nevada Independent reported the Nevada Resorts Association’s (NRA) position in an article examining the gaming industry’s political contributions.

Last month, the union endorsed Assemblymember Cameron “CH” Miller’s proposal to create a state lottery to fund youth mental health services.

In a state known for its numerous casino resorts, Nevada is one of only five states that hasn’t established a state lottery. It would take passing a constitutional amendment to end the ban.

The article cited NRA President Virginia Valentine as claiming a plan to establish a lottery should weigh the impact, both from an economic and financial standpoint, on businesses.

‘Incredibly Disappointing’

Pappageorge said it’s “incredibly disappointing” that the trade association representing “Nevada’s biggest industry is content” with the state ranked last for youth mental health and among the bottom in education. That youth mental health ranking was reported in Mental Health America’s “State of Mental Health” reports for 2021 and 2022.

Pappageorge called on the NRA “to do better for our communities.” He added that the union representing 60K Las Vegas and Reno workers has consistently advocated for working families.

We have taken on big pharma to win diabetes and asthma drug transparency and worked for over 25 years to end surprise medical bills for all Nevadans,” Pappageorge said. “This year is no different. We continue to fiercely advocate for Culinary Union members and Nevadans to have quality health care and neighborhood stability.”

A message to the Resorts Association seeking comment on Tuesday evening was not immediately returned.

While there have been other attempts at establishing a state lottery, this one has the backing of one of Nevada’s most influential and active political groups. Ahead of last year’s election, Culinary Union members knocked on more than 1 million doors as part of a statewide canvassing effort.

Focus Sharpening on Mental Health

More attention has been paid to mental health in recent years, thanks to the COVID-19 pandemic. The Culinary Union cited a World Health Organization study revealing that cases of anxiety and depression rose by 25% during the first year of the health emergency.

Because of that, the union believes the state needs a consistent, long-term funding stream to cover the mental health needs of children and teens in Nevada.

The union doesn’t estimate how much revenue the state is losing by not having a lottery.

Nevada is home to nearly 3.2 million residents, making it the 32nd most populous state in the country. Iowa, ranked 31st, reported its lottery generated nearly $98 million in revenue for the state during the 2021-22 fiscal year. Arkansas, the 33rd most populous state, used its lottery to generate $99.7 million for its scholarship fund.

The post Culinary Union Slams Casino Group for Opposing Nevada Lottery to Fund Youth Mental Health Services appeared first on Casino.org.

Kentucky Attorney General Daniel Cameron, Agriculture Commissioner Ryan Quarles, and Somerset Mayor Alan Keck all agreed that sports betting is already happening in the state. For Cameron and Quarles, their support was based on the condition they could regulate and control the activity.

Among the four candidates who participated in the debate sponsored by the Jefferson County Republican Party, Keck is expanded gaming’s biggest supporter

To me, it is hypocritical at best, egregious at worst, that we can celebrate the Derby, which I do. And we can fund education through the lottery, which I think is tremendous, and you can’t put five bucks on UK-Louisville,” Keck said.

Of the four on the dais, only state Auditor Mike Harmon said he’s always opposed expanded gaming.

While there are 12 Republican candidates in the primary, those four were among the five invited by Louisville GOP officials. They also invited Kelly Craft, who declined their invitation.

The winner of the May 16 GOP primary will almost certainly face Democratic Gov. Andy Beshear, who faces token opposition for his renomination. Beshear won the governor’s race in 2019, in part, based on his support for expanding gaming in the state.

Candidates Questioned on Skill Games, Casinos

After the debate, the candidates held scrums with the media in attendance. I used the opportunity to delve a little deeper into each candidate’s gaming stances.

Cameron said his office would represent the state if the legislature passed a bill banning gray games, or skill games as they’re also known, and that bill was challenged in court.

“I think the work that’s been done by our General Assembly is appropriate,” he told reporters.

While Keck reiterated his support for the sports betting bill filed by state Rep. Michael Meredith, R-Oakland, he was more reserved about the potential for casinos because he said they can have “a direct societal ill” on Kentucky communities.

“We got to be careful they don’t turn into black holes,” he said.

He said his main concern with gray or skill games is that he does not want them to be predatory. When someone buys a lottery ticket, he said that person knows the odds of winning. If the machines stick around, then they need to be regulated.

Quarles Questions Cameron on Gray Games

Quarles told reporters he is against casinos and against the skill games, noting he lives near a convenience store that took out racks that once held soft drinks and food and replaced them with gaming machines. He said the machines are too inviting for teenagers to play.

He also took one of his opponents in the race to task on the issue.

I sometimes wonder why the attorney general has not looked into the legality of these right now, over the past year since it’s proliferated,” Quarles said. “And now the General Assembly’s caught in the quandary because now there’s over 10,000 these machines in Kentucky.”

Harmon, in theory, could benefit the most from his stance in opposition. Even though there are a dozen candidates, Kentucky election law has no runoff requirement, meaning the top vote-getter gets the nomination no matter how many votes they actually get.

While a survey last year showed a majority of Republican voters in Kentucky support sports betting, the number of no voters was still significant enough that it could influence a primary if the opposition coalesced behind one candidate.

Despite his stance, Quarles added that “ultimately,” it will be decided by the people and the legislature. If they support it, they can override his veto with a simple majority.

“If the General Assembly wants it, it can take place,” he added.

Hearing Set for Kentucky Sports Betting Bill

While expanded gaming could still become a hot topic in the November race, lawmakers in the General Assembly are considering legalizing sports betting this year.

Meredith told Casino.org on Tuesday that when the committee takes up his bill, they will approve a committee substitute that includes eliminating the in-person mobile registration period included in his initial bill. That would have meant anyone who wanted to set up an account with a specific online operator would have needed to visit the track partner to complete the registration. That provision would have ended 12 months after the law took effect.

Should the committee pass HB 551, which is widely expected, it will go to the House floor. It will need a three-fifths majority to pass the House this year, which means it would take 60 yes votes out of the 100 members.

Last year, the House passed a sports betting bill by a 58-30 vote, with a dozen members not voting. That was the first time a sports betting bill got out of the House in four tries. Supporters are confident they can meet the three-fifths majority needed in the House.

From there, the Senate would need to pass the bill with 23 votes out of the 37 members. Last year, the Senate was unable to take up the bill before the 60-day session ended in April.

Wednesday will be Day 22 of the 30-day session. Lawmakers are scheduled to meet through the end of this week and Monday through Thursday of next week before breaking for Beshear’s veto period.

The final two days of the session will take place March 29-30. Lawmakers can use those days to advance a sports betting bill because – given Beshear’s very public support for sports betting – it is incredibly unlikely he’d veto it.

The post Kentucky GOP Gubernatorial Candidates Talk Gaming; Sports Betting Bill Gets Hearing Wednesday appeared first on Casino.org.

The league issued a two-sentence statement, noting Ridley is eligible to participate in “all team activities, effective immediately,” with the Jacksonville Jaguars.

Officially, the NFL suspended Ridley indefinitely for betting on league games but noted he was eligible to apply for reinstatement after the 2022 season officially ended last month, which he did.

‘Isolated Lapse in Judgment’

Ridley was traded to the Jaguars last November. After the NFL reinstated him, his new team welcomed him to the squad on social media.

Coming soon to #DUUUVAL!!! pic.twitter.com/faXdHA482W

— Jacksonville Jaguars (@Jaguars) March 6, 2023

In a statement, the Jaguars said they “look forward to building a relationship” with the four-year-pro.

“Calvin is a proven playmaker and we are excited to see him compete among and with his new teammates, first during our Offseason Program in April and, ultimately, into the 2023 season, as we collectively pursue a championship for Jacksonville,” the team said.

In a statement released by the Jags, Ridley said the league’s decision concludes “a challenging chapter of my professional career.” He described the wagering as a “self-inflicted” incident that stemmed from “an isolated lapse in judgment.”

I have always owned my mistakes and this is no different,” he added. “I have great respect for the game and am excited for the opportunity to restart my career in Jacksonville. I look forward to showing my new coaches, teammates, and the entire Jaguars organization exactly who I am and what I represent as a player and person.”

Before taking leave during the 2021 season, Ridley was establishing himself as one of the top receivers in the game. After catching 127 passes for 1,687 yards and 17 touchdowns in his first two seasons, he made 90 receptions for 1,374 yards during the 2020 season.

Ridley has been working out while serving the suspension. If he can regain his 2020 form, the 28-year-old should help bolster a team that reached the playoffs last season.

NFL Rules on Gambling

The NFL’s rules on gambling are fairly clear.

That led to former New York Jets receivers coach Miles Austin III being suspended in December. He is appealing that ruling.

The post Calvin Ridley Reinstated by NFL After 1-Year Suspension for Betting on Football appeared first on Casino.org.

The CFTC’s requirements included that Victoria University of Wellington operate the exchange as a nonprofit venture. However, in a letter sent last Thursday to Victoria University Vice-Provost of Research Dr. Margaret Hyland, CFTC Division of Market Oversight (DMO) Director Vincent McGonagle said its staff has determined that Aristotle International, a for-profit company based in Washington, DC, is the actual operator of the exchange.

That’s one of three findings announced by the CFTC, seeking to revoke PredictIt’s no-action status.

A partially redacted copy of the letter was included in a filing the commission made with the US Fifth Circuit Court of Appeals on Friday. The CFTC wants to nullify an injunction the court ordered last month that allowed the exchange to continue trading past a February 15 liquidation date the commission listed in a previous letter revoking the no-action status.

In Thursday’s letter, McGonagle said the agency was canceling the August 4 letter and issuing the new letter in its place. The new communique is considered an “initial determination” letter and allows the university to respond by March 20.

The purpose of Victoria University’s request and DMO’s no-action letter was that the market … would be unregulated,” McGonagle wrote. “Yet, because of these violations, DMO and other CFTC staff have been required to devote considerable time over the last nearly nine years to the market. This has far exceeded the level of CFTC staff involvement contemplated by (the no-action letter), and we believe it is not an appropriate use of taxpayer resources.”

The August 4 letter is the focus of a lawsuit filed by PredictIt and Aristotle, along with several traders and researchers who use the site. In Friday’s filing, the CFTC argued that since it withdrew the old letter and issued a new one, the injunction should be lifted, and the plaintiffs’ appeal should be dismissed.

CFTC Questions University’s Role

The redacted portions of the letter concern the CFTC’s claims that Aristotle operates the exchange and that both a university subsidiary and Aristotle have profited from operating the exchange.

According to a footnote inserted in the letter as part of the court filing, the CFTC said Victoria University requested “confidential treatment” to references of a document. The redactions appear to be for an agreement between the university and Aristotle for services connected to PredictIt’s operations.

When it applied for the no-action letter, the university said it would contract a third party to perform “know your customer” and age checks on individuals wanting to participate in the exchange.

“While the university may have been operating the market at its inception, it appears that at some point, the university ceded operational control of the market to Aristotle … Indeed, recent public statements reflect that the university may not have been operating the market since its inception and rather that Aristotle played a leading – and undisclosed – role in the development and launch of the market,” McGonagle wrote in Thursday’s letter.

McGonagle’s letter also cited claims made by Aristotle’s attorneys during oral arguments before the Fifth Circuit last month that indicated PredictIt was a joint venture from the beginning. That, the director said, would be “inconsistent with the conditions” of the no-action letter.

In 2014, Victoria University proposed the exchange because it believed the markets would provide valuable data to researchers studying political science, game theory, microeconomics, and other fields.

Victoria University ‘Assessing’ CFTC Letter

The PredictIt exchange offers two-way markets for political events. Since the US doesn’t allow wagering on politics, it’s considered the closest option to political betting.

Winning contracts are paid out at $1 per share, and traders can move in and out of positions until that market closes. In addition to the claims about the university’s and Aristotle’s relationship, the CFTC also claims that 17 markets offered on PredictIt violated the no-action letter’s terms.

Victoria University responded to a request for comment from Casino.org on Sunday evening (Monday in New Zealand).

“Te Herenga Waka (the Maori name for the school) — Victoria University of Wellington confirms it has received further correspondence from the CFTC regarding PredictIt, which it is currently assessing,” the statement said. “The university has no further comment at this time.”

Aristotle General Counsel David Mason, a former chairman of the Federal Election Commission, said in a statement Friday the company rejects the CFTC’s findings.

“We plan to continue to fight this prejudiced attempt to shut down this useful market,” he said.

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