Welcome iGB’s State of the Union. Here you’ll find a summary of the most important sports betting news in North America that we covered this week, as well as briefs about other stories we thought were interesting.
CNBC getting into sports
CNBC will add a new sports channel as part of Steve Ruddock’s “Straight to the Point” substack. What does this mean for sports gambling? Ruddock said Wednesday, 3 July: “That includes sports betting. CNBC’s Contessa has worked in this area for many years.” The channel’s focus will be on sports, business and the intersection between the two.
Brewer is one of a few national journalists who have covered the industry for news outlets since PASPA’s repeal in May 2018. According to a press release, she “will continue to concentrate on the data, statistics and strategy that are behind the sport gaming industry.”
You want to bet on NJ colleges?
New Jersey is one of the few states that does not allow bets on college sporting events. Another bill is currently being considered in the Legislature to make this happen. Michael Venezia, a representative from the House of Representatives, introduced ACR140 last week. This bill would permit such wagering. This bill is currently in the Tourism, Gaming and Arts Committee.
In 2021, voters rejected a ballot that would have allowed the market to open. Since the launch of the college betting market in 2018, at least one operator was fined after taking wagers on an event. New Jersey has a year-round legislature, which means lawmakers will have ample time to review the legislation. In the interim, anyone in New Jersey who wants to wager on college games must look elsewhere.
The cost of business has just gone up
Illinois operators began to pay the highest tax rates at the beginning of this week. In June, lawmakers voted to raise the sports betting tax from 15% to 20% on a sliding-scale between the smallest operators and 40% for the largest. DraftKings, FanDuel and other companies that earned enough money in the FY 2024 period to qualify for 40% tax rates will be most affected by this change.
JB Pritzker was the driving force behind this increase. He had originally proposed a 35% flat rate. Illinois now has the second-most expensive market for doing business. New York taxes gross gaming revenues at 51%. Pennsylvania is the next closest, with a tax of 36% (34 % state plus 2 %).
BlueBet is no more in Indiana
According to West Island Blog, BlueBet will continue operating in Colorado, Iowa and Louisiana as ClutchBet but exit Indiana under the name ClutchBet. BlueBet merged in April with an Australian operator Betr. BlueBet has left Indiana for the second time in one year. WynnBet, as part of the nationwide closure in 2023, left Indiana.
Two new operators launched in the State this year. Fanatics and bet365 both launched their services in February.
Vermont RG’s New Website
This week, Vermont regulators, who launched legal sports betting in Vermont on 11 January, unveiled their website VTGamblingHelp.org, which focuses on responsible and problem gambling. This site features a button “Get help now” that directs bettors either to 1-800-GAMBLR or the website’s chat. The site also has a section that explains what gambling addiction looks like and provides a check-list for users. Site also includes a link to the self-exclusion form that bettors may use in their state.
Other news
The bill to open Delaware’s gaming market to died on Sunday, 30 June when the session ended without action. BetRivers is the sole digital sports betting provider in Delaware.
Rodney Williams, a former liquor executive and member of the board at Caesars Entertainment was announced by the company on 1 July. Caesars Entertainment announced on 1 July that former liquor executive Rodney Williams had been appointed to the board of directors.
BetMGM has been named Sports Betting operator of the year and employer of the year at the EGR North America Awards.
ICYMI for iGB
US federal prosecutors are preparing to charge Jontay with a crime
Evolution introduces live dealer games to Delaware
California tribes and mayors protest a bill that allows them to sue
Kentucky Judge upholds the ban on skill Games
