Bill King
Senior Writer at Sports Business Journal
Senior Writer at Sports Business Journal. Now immersed in the emerging story of US sports betting. Reader, writer, occasional 'rithmeticker. Husband and Dad.
Articles
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6 days ago |
sportsbusinessjournal.com | Bill King
The amount wagered legally on sports in the U.S. since the Supreme Court cleared the way seven years ago eclipsed a half trillion dollars late last month. We don’t know the who, when or where of the wager that eclipsed the $500 billion mark. But based on totals reported thus far by regulators in 14 states, U.S. handle for March is sitting at $6.38 billion and tracking toward $14.5 billion, which would bring the total since states beyond Nevada started taking bets to $502 billion.
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6 days ago |
sportsbusinessjournal.com | Bill King
The list of state gambling commissions taking action against predictions market exchange operator Kalshi grew to at least eight this week when the Tennessee Sports Wagering Council asked federal regulators to prohibit it from offering event contracts that function similarly to a sports bet. Tennessee joined state regulators in Nevada, New Jersey, Illinois, Ohio, Maryland, Michigan and Montana, who in the last month sent cease-and-desist orders to Kalshi.
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6 days ago |
sportsbusinessjournal.com | Bill King
New York blew the doors off of March, coming within 2% of breaking the monthly record of $2.49 billion that it set in January. Of the 14 states that have reported, New York was one of five that posted double-digit gains over last March.
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1 week ago |
sportsbusinessjournal.com | Bill King
ESPN Bet operator Penn Entertainment has rolled out a new Mint Club designation that rewards those who link their ESPN and ESPN Bet accounts with access to weekly members only promotions and giveaways. Mint Club benefits include deposit bonuses, profit boosts and merchandise, along with access to new product features, including a favorites ticker that uses their ESPN app preferences to surface relevant bets and scores. Mint Club users also also will be able to track their bets on the ESPN app.
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1 week ago |
sportsbusinessjournal.com | Bill King
At 9 a.m. Thursday, prediction market contracts that had Rory McIlroy winning the Masters were trading at 13 cents through online brokerage Robinhood, a pricing structure that would allow those who purchased $20 in contracts to collect $134 in profits if McIlroy won. At the same time, FanDuel bettors in states in which sports wagering is legal could have bet McIlroy to win the Masters at moneyline odds of +650, giving them a similar upside of $130 if he won.
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“It is the next chapter and the next iteration (of sports betting) and I think it’s a huge opportunity.” Sara Slane, broker of harmony between sportsbooks and leagues amidst the early the tumult of legal sports betting, has joined disruptor @Kalshi. https://t.co/Ca2r75J0uq
Ex-AGA exec, advisor to leagues and teams Sara Slane has joined sports betting disruptor Kalshi https://t.co/Jpa3qWjuZJ
In this week’s @SBJ Betting newsletter: Is that $20 a bet, an entry fee or an investment? We look at @RobinhoodApp & @Kalshi, the latest to test a fuzzy line. Also: Data from @Optimove shows March Madness bet sizes spiked for Elite 8. And more, here: https://t.co/p35phqO5ub