Eric Ramsey

Maine

Lead Writer at Legal Sports Report

I eat tacos and analyze gambling data/policy for @LSPReport. Please calm down. #Repeal2A

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Articles

February A Mixed Bag For Pennsylvania Sportsbooks

1 month ago | legalsportsreport.com | Eric Ramsey

Pennsylvania sportsbooks had a February of mixed emotions, enjoying a significant surge in volume while also enduring a sharp decline in revenue. Operators in the commonwealth combined to generate $757 million in handle for the month, up 14% year over year to reach a new February record. Gross revenue tumbled 33% to just $34.0 million, though, the market’s lowest output in 18 months. Effects on net revenue were further magnified by a 30%+ increase in promo spend.
US Sportsbooks Barreling Toward Record-Setting Super Bowl 59

2 months ago | stltoday.com | Eric Ramsey

Regulated sportsbooks in the US are once again gearing up for the biggest event on the calendar: Super Bowl Sunday. The NFL season peaks on Feb. 9 with a powerhouse Super Bowl 59 matchup between the Philadelphia Eagles and the Kansas City Chiefs that will generate more than $1.5 billion in legal wagers nationwide. Record-setting handle for the game creates nine figures of revenue potential for sports betting operators, though how much customers win or lose hinges on the result.
Super Bowl Betting Poised For Another New Record With No. 59

2 months ago | legalsportsreport.com | Eric Ramsey

Total Super Bowl betting handle across regulated US markets will grow more than 15% to surpass a record $1.5 billion. Nevada is the historical epicenter for Super Bowl betting, but New York might have enough inertia to take the top spot for the first time this year. The emergence of prop-based fantasy products and event contract trading could have a profound effect on the total amount of financial exposure to the game among American sports speculators.
CT Lawmaker On Sports Betting: 'We Want To Be In The On-Deck Circle'

Jan 15, 2025 | legalsportsreport.com | Eric Ramsey

Connecticut lawmakers held a press conference about sports betting before a pair of informational hearings on gambling expansion over the next two weeks.
Turning The Page On A Record 2024 For US Sports Betting

Dec 31, 2024 | legalsportsreport.com | Eric Ramsey

The online gambling industry has almost closed the books on another record-breaking year of regulated operations in the US. In preliminary 2024 totals, licensed sportsbooks across 33 reporting markets combined to generate nearly $150 billion in handle and more than $14.2 billion in operator revenue. This report includes all published results to date and projections for months not yet reported.
October US Online Gambling Revenue Strong In Big 3 States

Nov 30, 2024 | legalsportsreport.com | Eric Ramsey

October revenue reports are still trickling in, but partial numbers have it on pace to be an all-time record month of volume for legal online gambling in the US. Of the 26 markets that have reported so far, 16 set new single-month handle records in October. Same-state handle grew 12% YoY for the reporting group, though revenue has slumped by double digits nearly across the board. The running hold of 7.3% would make it the leanest month for sportsbooks since last November.
Missouri Sports Betting Outlook & Forecast

Nov 4, 2024 | legalsportsreport.com | Eric Ramsey

Missouri voters heading to the polls this week will decide the future of sports betting in their state. Amendment 2 appears on the 2024 Missouri ballot after garnering more than 250,000 verified signatures as its prerequisite for certification. A Yes vote by the majority would amend the state constitution to include language authorizing single-game sports betting.
Would DraftKings Surcharge Makes Dollars And Sense?

Aug 7, 2024 | legalsportsreport.com | Eric Ramsey

LSR analysis shows DraftKings could collect as much as $220 million annually by imposing a surcharge on winning bets in Illinois, New York, Pennsylvania, and Vermont. Whether states consider the surcharge taxable could shift revenue projections by up to $100 million. The DraftKings surcharge would require bettors to win at a 53.3% rate to break even, a sharp increase from the standard rate of 52.4%.
Analysis: Alternative Data Illuminates Who, Where Of US Online Gambling Spend

Jun 5, 2024 | legalsportsreport.com | Eric Ramsey

Millennials are by far the largest demographic group, accounting for around 60% of all players and money spent on online gaming. Gen X customers are meanwhile the most valuable to operators, on average. PrizePicks ability to draw from the pool of younger players sets it apart from traditional online gambling products, as does its outsized presence in the sparsely regulated southern region.
Which States Have March Madness Betting Restrictions?

Mar 18, 2024 | legalsportsreport.com | Eric Ramsey

There used to be a time not so very long ago when the NCAA refused to host collegiate tournaments in states with March Madness betting. Things sure do have a way of changing quickly in this industry: of the 14 host sites for this year’s men’s tournament, 11 are located in states with legal March Madness betting. Most notably, that includes the Final Four and Championship games being played at State Farm Stadium in Arizona.