Home NewsSports Betting The State of the Union: An overview of North America’s week

The State of the Union: An overview of North America’s week

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Welcoming iGB’s State of the Union. This is a quick look at the most important sports betting news in North America that we have covered this week, as well as a few briefs about other stories we thought were interesting.

Next up, Alberta? Or maybe Quebec?

Money is often at the forefront when it comes to legalizing or launching sport betting in the US. It seems the same thing is happening in Canada. Loto-Quebec was asked to save $1bn by Loto-Quebec, while most Canadian stakeholders are pointing to Alberta as being the next Canadian sports betting market. Around the same time the Quebec Online Gaming Coalition published the results of an economic analysis by Mallette. According to the study, Ontario generated $145m of revenue in 2022-2023. It was the first year that single-event betting had been available.

According to the same report, Ontario Lottery and Gaming also increased its profits by 31%. According to the coalition, any Canadian province would benefit by adopting a similar model as Ontario. Quebec’s population is 8.5 millions, compared with Ontario’s 14,2 million.

All of these companies have live betting platforms for Ontario, including Betway, Bet99 DraftKings Entain, FanDuel Games Global and Rush Street Interactive.

There is no statewide mobile service in Mississippi

The conference committee of the Mississippi Senate voted down a bill Monday, 29 April that would have allowed legal sports gambling to be available statewide. The HB 774 bill would have permitted up to thirty digital betting platforms that were tethered with casinos. Tax rate was 12 percent. In February the house passed the bill, but the senate did not. A conference committee was unable to resolve any differences.

After the Professional and Amateur Sports Protection Act (PASPA) was repealed in May 2018, Mississippi became the third state with legalized sports betting. Mississippi only allows mobile betting on site and in person at a few locations. There is no mobile statewide. Three out of the four bordering states in Mississippi now allow digital betting.

It’s not right!

North Carolina’s sports betting laws requires that consumers pay tax on their winnings. It does not permit them to deduct losses. Roy Cooper wants to see this change and has asked the Legislature to review the law. Operators can currently write-off losses.

Julie Mayfield, a North Carolina senator, also introduced SB 788 on Thursday (2 May). This bill would prohibit prop bets for college players as well as in-person betting at venues hosting college events eight hours prior to and during the event. North Carolina allows brick-and mortar sportsbooks at pro-sports venues.

Texans, bring on the betting

New polling shows that Texans are in favor of digital sports betting and land-based casino gambling. Texas Hispanic Policy Foundation found that 56 per cent of respondents support casino gambling and 47 per cent support sports betting. The survey included 1,600 “likely voters” in Texas. Only the concept of sportsbooks in professional sporting venues is opposed by those surveyed.

This poll came out just as Texas Destination Alliance began to gather support. Las Vegas Sands-backed alliance claims that Texans annually spend $5bn on “out-of state entertainment.”

Other news

Sporttrade, in partnership with Wild Rose Casino & Hotel and Iowa’s Wild Rose Casino & Hotel Hotel on Thursday 2 May went live. This marks the third US market for the startup after Colorado and New Jersey. Alex Kane, founder and CEO of Sporttrade said that the sportsbook is not just like any other. We’re relentlessly working to change the way people think about betting on sports. Sporttrade is a great option for bettors looking to enjoy a more premium experience, with higher betting limits, lower prices and concierge service.

Third Kind Venture Capital announced on Wednesday, 1 May that it had invested $3.7 million in the sports betting platform SoBet. SoBet brings together renowned wagering content producers under one roof. Consumers pay a subscription fee to access dozens of voices. Cooper Lycan, the founder, said that the company’s goal was to become “the one-stop shop” for all sports analysis and entertainment.

CNBC reported on Tuesday, 30 April that Dave & Buster’s will soon allow betting in its arcades. Customers who are 18+ will be eligible to bet. The amount that can be wagered will be limited.

ICYMI for iGB

US television sports betting advertising on the decline

YouGov: bet365 gaining traction among younger bettors

Missouri teams collect 340,000 signatures in support of sports betting initiative

Penn Entertainment peddling positive attitude despite revenue decline

Alabama Senate rejects electronic gambling, lottery and other games hours after the house has approved them

New betting laws being considered by multiple US States

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