Category: Industry News

USA Betting Industry News

USA Betting Industry News

by | May 14, 2021 | , | 0 |

USA Betting Industry News: The sports betting industry in theUnited States is taking big leaps for long-term success. For example, DraftKings partnered up with the UFC for five years as legal sportsbooks look to capitalize on as many opportunities as possible. However, just like any industry or sector, there will be some bad quarters and […]
The post USA Betting Industry News appeared first on Knup Sports.

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Simplebet and INTRALOT Expand Their Solution to MLB and the NBA

Simplebet and INTRALOT Expand Their Solution to MLB and the NBA

by | May 14, 2021 | , | 0 |

Expanding on their relationship that unveiled micro-betting products for the NFL playoffs, Simplebet and INTRALOT have announced that their latest development in real money sports betting technology will be used for Major League Baseball (MLB) and NBA game wagering through GamebetDC and at SportsBet Montana locations. The technology makes live game wagering possible at any time during the action, with virtually millions of betting combinations available.
Simplebet, a sports betting technology leader, and INTRALOT, a lottery system provider in Washington, D.C., and Montana, are teaming up to introduce groundbreaking products that are the first to provide automated wagering opportunities for the NBA and MLB. The introduction of novel products beyond the NFL is just another example of the growth in sports-related betting, lottery, and Daily Fantasy Sports (DFS) in the last several years.
After the introduction of Simplebet’s solution to GamebetDC’s NFL options for the playoffs, it made up 25% of their NFL action. What amounted to a pilot for the technology showed that there would be a viable market for live, in-game micro-betting and the addition of other sports and leagues was a natural extension.

Continuing Trends
The announcement is just the latest in a long line of developments that have seen the lines between sports betting, DFS, and state lotteries become increasingly blurred since the flurry of legalized sportsbooks began occurring in states since 2018. The Supreme Court of the United States ruled that year that sports betting would no longer be the sole purview of the state of Nevada and that all states had the right to make the practice legal.
To date, 25 states have approved some form of sports betting, with different combinations of retail and mobile opportunities available depending on the specific guidelines established by each individual state. There is an additional number, most recently Florida, that have legislation in some stage of approval by legislatures.
INTRALOT has been providing solutions to the lottery industry since 1992, so the natural progression would be for them to be heavily involved in integrating sports betting alternatives to their offerings. It’s a similar situation in which DraftKings, FanDuel, and other online DFS operators found themselves when sports betting began its legal growth.
The underlying technology that enabled high volume, online, and mobile DFS activity was such that it could be migrated to meet the needs required for online sportsbooks. As a result, DraftKings and FanDuel have been among the leaders in applying for and receiving approval to operate sportsbooks in a number of states.
The lottery boards in many states are also responsible for the management and oversight of legal sportsbook activities, so the involvement of companies like INTRALOT is a natural progression. A prudent way for them to proceed is to partner with an entity like Simpebet that specializes in sports betting technology instead of spending the money to develop their own solution.
The sports betting industry is in an explosive growth mode, so announcements of this nature from Simplebet and INTRALOT are certain to continue very well into the future.
 

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Deadline extension given for California

Deadline extension given for California

by | May 12, 2021 | , | 0 |

Deadline extension given: As California continues to slowly inch closer to legalizing sports betting within their state, the counties of Los Angeles and San Diego have been granted an extension to help verify over 500,000 signatures.
A petition with at least 997,139 signatures is required by state law in order to get the legalization of tribal sports betting debate on the 2022 ballot. There were over 1.4 million signatures collected, however each signature must be validated before it can be counted.
As of April 29th, almost 450,000 signatures had already been verified, the recent extension gives the two counties until May 26th to verify the remaining names.
The original date for signature verification was April 22nd but registrars in LA and San Diego have been granted more time due to verifying signatures for a recall petition against Gov. Gavin Newsom.
How does this playout
Assuming that the required amount of signatures are verified in time, the sports betting topic would then be put on the 2022 ballot for a public vote. The sports betting issue must be put on the November 2022 ballot as per the constitutional amendment California requires for all gaming expansions within the state.
If the public regulates the proposed sports betting plan through the vote, retail sportsbooks would then be allowed to open at private horse racing tracks in four different counties. It is possible that retail sportsbooks in the four counties could be open almost immediately after a successful vote.
Retail sportsbooks at tribal casinos all across the state would then become legal after the necessary revisions are made to the tribal gaming laws currently in place. It is expected the sportsbooks would begin opening their doors sometime in 2023.
Brief History
Legalized sports betting is not a new topic for the state of California. In 2016 and 2017 there were two sports betting proposals rejected by the California legislature. There was also an unsuccessful effort by a group called Californians for Sports Betting who attempted to push initiatives through that would allow operators of all types to offer sports betting and not just the tribal monopolies currently in place.
In 2020 another push was made to legalize gambling within the state, however the pushback from the local tribes were successful in ending that initiative.
Some estimates have suggested that if and when California is able to legalize sports gambling that it could generate as much as $30 billion in placed wagers annually.

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Florida Special Legislative Session Scheduled for May 17th

Florida Special Legislative Session Scheduled for May 17th

by | May 11, 2021 | , | 0 |

A special legislative session for Florida lawmakers will be held in the state capital of Tallahassee the week of May 17th, beginning with a Senate Appropriations Committee meeting to review a proposed 30 year gaming compact that Governor Ron Desantis negotiated with the Seminole Tribe of Florida.
Before the compact can be formalized, it requires the approval of the full legislature, with the measure expected to hit the Senate floor for a vote on May 18th followed by a House vote on May 19th after consideration by multiple committees.
The compact, which was finalized and agreed to after extensive negotiations, is groundbreaking in that it introduces sports betting to the Sunshine State and provides the state of Florida an estimated $2.5 billion in the first five years. It is touted as a huge win-win situation for the state’s taxpayers as well as the Seminole Tribe.
Florida is one of the prize states left that has not yet legalized sports betting and with nine Big Four sports franchises, it’s certain to generate a large amount of action even without considering the tourist trade. The compact still gives the Seminole Tribe exclusive control of sports betting in Florida, including wagers placed on mobile devices or at licensed racetracks and jai-alai locations that are not physically located on tribal land.
That exclusivity would also extend to any sportsbooks that might be opened at any of the sports venues in the state, including Hard Rock Stadium for which the Seminole Tribe holds the naming rights. For that privilege, the Tribe is committed to pay the state $300 million annually for the duration of the compact.
In addition to adding sports betting, the agreement expands the games that the Seminole Tribe can offer at its casino to include craps and roulette, vastly increasing their casino based revenue opportunities. The legislature will also be addressing other gambling related issues in the state, including whether to allow slot machine operations at racetracks and jai-alai facilities even when there is no live action taking place.
Mobile Wagering Not a Slam Dunk
There are still some questions at the federal level regarding the legality of allowing mobile sports betting from areas that are outside tribal lands. The compact between the state of Florida and the Seminole Tribe falls under the jurisdiction of the Indian Gaming Regulatory Act (IGRA).
The IGRA stipulates that all gaming activities covered under the compact would need to occur on tribal lands, so there is some interpretation required on where the mobile wager actually occurs. One school of thought is that as long as the bets are processed through computer servers located on tribal land, then that is enough to satisfy the requirements of the IGRA.
So even if the state legislature approves the agreement, and all indications are that they will, there could still be court action initiated to challenge the compact based on violations of the IGRA. The bottom line is that while sports betting is most likely on its way to the nation’s third most populous state, it might not be […]

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