Category Archives: Sports Betting

In this guest column, Kamran Hedjri, CEO of PXP Financial, which specializes in acquiring and processing services to help businesses simplify and support their global payment needs, analyzes the US sports betting and iGaming markets, and for 2022 he predicts an uptake in regulation, better technologies driven by bigger investments, and the continuation of iGaming momentum.

The iGaming and Sports Betting sector is a multi-billion-dollar industry with global reach that has found much success across Europe. Yet despite this, for the longest time it was incredibly difficult for gaming operators to run in the United States of America (U.S.) as laws and regulations limited, or outright prevented, forms of gambling. Fortunately, since 2018 regulators have slowly eased up on restrictions and this has created many opportunities for both local and foreign companies to begin operating in the region.

While there are lots of opportunities for success in the US, it is not as simple as moving into the country and setting up shop. There are several regulations still in place across all 50 US states, and gaming operators need to ensure their ability to take transactions from players is not impeded by this. The worst thing an operator can do to its player base is prevent them from being able to play, after all.

Here are some predictions for 2022:

While many states have been updating their regulations to make iGaming and Sports Betting legal, there are 50 states across the US and its unlikely that all of them will make a complete turnaround by 2022. With that said however, we do expect the turnaround from states still unsure, to happen at a much faster rate than in previous years.

This is largely down to regulations being workshopped by other states and reaching a condition where they are more acceptable to a wider council. As the hesitant US states begin to see regulations working effectively in the states that have already opened up, they will also begin to lessen restrictions.

The process will ultimately be a lot faster as well, as these states can easily adopt what has worked elsewhere and make small amends instead of workshopping new regulations from scratch. There will be more case studies for the regional regulators to work from and this will speed up the process.

So, while we dont expect to see all 50 states open to iGaming and Sports Betting by the end of 2022, we do expect to see a larger portion of US states adding new regulation in support of the industry than ever before. This is something any company involved in the sector needs to be ready for.

As this sector is growing and proving to be a success, this will draw the attention of investors who will be keen to take part in supporting the growth of the industry. This will naturally result in many of its upcoming and currently key players receiving funds that will support in their growth and one way we will see this growth take form is with new technology.

Innovation is constantly happening across all technology sectors, payments and otherwise, and some of this technology will support in streamlining the process for players to participate in iGaming and sports betting, as well as offer new ways to play. We anticipate that a slew of new investments will lead to the adoption of several new technologies to this sector, and that in turn will lead to further investment.

Over the COVID-19 pandemic, the industry saw a huge boost in iGaming as players were forced online. Even though lockdown has subsided, and many in-person casinos have reopened, the revenue made from iGaming alone has not decreased. In fact, it has increased along with revenue across the industry as a whole and the will certainly continue its upward trajectory throughout 2022.

iGaming and Sports Betting is a thriving industry currently and has proven to be so globally for many, many years. Over the last few years, the US has been given the opportunity to experience this success and it is only going to rise further.

Originally posted here:

American iGaming and Sports betting is on the rise with new investments and regulations 2022 predictions - Yogonet International

We are now 15 months into this bi-weekly newsletter, heading into our second Super Bowl. Ive gone from contemplating the impact of legalization on The Big Game to wondering whether New Jersey will find a way to introduce legal betting on Wordle to get New Yorkers to go back to betting from the train platform in Hoboken. Guess our baby is growing up.

Next week will be a big one for former NFL Exec VP Eric Grubman and NHL COO John Collins, who in September 2020 teamed up to lead a SPAC that would target acquisitions in sports and entertainment. The following April, after raising $400 million via IPO, they announced a merger with the parent of global sportsbook operator Betway at a valuation of $4.75 billion. They expected the deal to close by November and said the brand could be operating sportsbooks in as many as 10 states by years end.

Delayed more than two months by complexities arising from the SECs closer monitoring of the SPAC process, as well as Super Groups roots as a privately held company registered in Malta and operating from the British Isles, the company expects to finally complete its path to the public markets next week.

On Wednesday, shareholders in the SPAC will vote on whether to convert their holdings to Super Group stock or withdraw their investment. Assuming that goes forward as expected, the transaction will close on Thursday, setting up Super Group management to ring the bell on the NYSE on Friday, trading under the symbol SGHC. On recent road shows, Grubman and Super Group management touted metrics that traditionally resonate with investors: Nearly two decades of profitability, $350 million in EBITDA in the most recent year, $400 million cash on the balance sheet and no debt -- all in a sector thought to have high growth potential globally.

In a couple of key ways, Super Group will fly into a headwind. Investors have cooled on the gambling sector of late, troubled by losses associated with high marketing and promotional spends. They havent been crazy about SPACs, either. Its a double whammy, said Collins,who will move from CEO of the SPAC to a board position for Super Group, which Grubman will chair.

SPAC has fallen out of favor," added Collins. "And there have been some other deals that have rewarded these high-flyer growth companies, but without a lot of profitability. And thats not what Super Group is. Super Group is globally scaled, been at it 20 years, highly profitable, flush with cash, with no debt. But you get lumped in with the SPAC deals and the gaming sector.

We're at this awkward moment where youve got a capital market thats a little concerned. Volatile is the best word that Ive heard on CNBC and in our investor meetings. So Super Group and the SPAC have to navigate that. But theres a lot of confidence that once we get through that birth in a difficult market, Super Group is going to be what we always thought it would be -- a great public company.

Collins, who was CEO of NFL On Location until it was sold to Endeavor in January 2020, has been at this long enough to see the temperature swing among potential investors. At the start, they questioned why Super Group signed on to a merger that valued the company at less than $5 billion, which seemed cheap compared to other deals in the sector. Of late, skepticism has come from the opposite direction. Now, guys are saying I love the company, but the gaming sector is down significantly, Collins said. And were saying, Yeah, because people are valuing what we hoped they would value in Super Group, which is profitability. This company makes money every day.

Betway doesnt fit what has been the profile of stocks to watch in U.S. sports betting. Though open in five states -- Colorado, Indiana, Pennsylvania, New Jersey, and Iowa -- it hasnt done significant handle in any of them. Betway bought some visible sponsorships during the Stanley Cup Playoffs and with NBA teams, but those have been global branding plays -- not local market pushes -- and choices driven by the companys ability to expose a single sportsbook brand on broadcasts around the world.

Management argues that the fact that Super Group is not the market share leader in a single country as irrelevant, pointing instead to what it sees as the more meaningful performance indicator, incremental revenue that turns directly to profit. Collins predicts that eventually will resonate with investors, and possibly acquirers.

It will take a quarter or two of continued strong performance for people to say, You know what? These guys got the model," Collins said. Because the capital market is kind of coming back to what we saw in Super Group, rewarding companies that are global, that have scale, that have no debt. At some point, the capital markets are going to reward that, because thats what they look for.

When my college buddy Tom Farrey phoned a few years ago to ask what I thought about a big idea to funnel some of the tax proceeds from legalized sports betting to rescue school and youth sports programs in underserved communities, I told him I thought his heart was in the right place, but that his feet were likely to find themselves near the back of a long line. The first states to legalize typically sent revenue from gambling to their respective general funds, to be divvied up among interests. Problem gambling organizations might get a tiny sliver of earmarked funding. But school or community sports? It didnt seem likely. The broader budget deficits faced since then made it even less likely.

Im glad that Tom, who leads the Aspen Institutes sport and society initiative, pressed on with the idea, which since has taken hold. Some of the heavily taxed proceeds from sports betting in New York soon will fund a grant program that will steer $5 million a year to youth programs in underserved communities. The bill signed into law in Ohio in December directs 98% of the proceeds from its 10% tax on sports betting revenue to schools, with half of that going to interscholastic athletics and other extracurricular activities.

A coalition of youth sports organizations and businesses lobbied legislators in both states, striking gold in New York when its message resonated with state assembly member Monica Wallace, who convinced other lawmakers it made sense to use newfound money from sports to address a crisis in youth sports. You want to find a Monica Wallace; someone who can champion this idea with other legislators, said Matthew Gould, a spokesman for the PLAY Sports Coalition. As these opportunities arise, Play Sports will continue to get involved.

If the proceeds from legalized sports betting can help revive shrinking public school athletic departments or save imperiled youth programs -- and there are too many of both -- thats a good thing.

MGM Resorts and Entain will infuse another $450 million in the BetMGM joint venture this year, bringing their combined investment to $1.1 billion since launching in 2018. The companies pointed to 2021 performance that outpaced projections. They said they expect 2022 net revenue from operations to rise to $1.3 billion, up from $850 million. On an analyst call following the announcement Wednesday, BetMGM CEO Adam Greenblatt said he anticipates profitability in 2023, but couched that with a realistic reminder of the volatility of the emerging U.S. market, which requires massive marketing spends each time a new state opens.

There will be months next year when we will be EBITDA positive, Greenblatt said. But lets not lose sight of our reality. We are not selling toothpaste in a very mature market in a price stable environment. Thats not this business. The market is still in its relatively early ... with lots of new states becoming addressable at different and uncertain times. Were also subject to short-term results based volatility in sports. You only have to look to this football season to bear that out. October was tough. November was fantastic. So while we cannot commit as I stand here today to profitability for the full year 2023 at this stage, we do expect to enjoy many months of positive EBITDA as the year progresses.

Greenblatt also predicted the likely slowing of the runaway train of promotional spending, which has sportsbooks dangling as much as $5,000 in refunds on a first bet by a new customer. Ultimately, capital is rational, Greenblatt said. And capital in this market is getting smarter. So what we at BetMGM are able to do with our board is demonstrate the cohort economics and the value of that cohort ROI, which fuels the fire and almost justifies further investment. I wouldnt comment about any of our competitors. But I do think capital is going to become more demanding, which will drive more selective investment."

Added Greenblatt: What we will see is a path to a rationalization of the promotional environment. And it may happen through the course of this year. I think we maybe weve got one more NFL cycle of exuberance ahead of us. But certainly over time maybe Im old-fashioned but capital is rational. Money is rational.

The record-shattering performance of sportsbooks in October, which likely will turn out to be the peak of 2021, offers a good opportunity to check in on how online market share is shaping up across the US when all legalized states are combined. Unfortunately, the two states with the largest handle, New Jersey and Nevada, do not break that out sportsbook by sportsbook. But eight states that together took $3.27 billion in sports wagers in October do.

The combined share of handle in those states (Illinois, Pennsylvania, Michigan, Indiana, Arizona, Iowa, Connecticut and West Virginia) shakes out like this:

DraftKings leads in four of those states; FanDuel in three. PointsBets fall to 3% in those more transparent states mirrors a U.S. market share drop that it logged in its last earnings report in October, when it pointed to outsized advertising and promo spends by its competitors as the likely reason.

For the quarter that ended in September, PointsBet saw share of handle drop in six states:

The first states to report December results showed continued decline from Octobers handle records. At $1.23 billion, New Jersey was down 2% from November and off 6% from October. It was the fourth consecutive $1 billion month for New Jersey, spanning the entirety of the NFL season.

Iowa was down 7% to $266.5 million, but still more than 50% ahead of the same month in 2020. New Hampshire ($86.4 million) and Oregon ($33.7 million) fared better, up 4% and 3%, respectively. Pennsylvania ($750.4 million) was off by 1%. Indiana ($463 million) finished even with last month. Connecticut ($150.1 million) was up 3%. Michigan was the lone large state to post a gain, up 3% at $514.6 million.

NOTES: Michigan and Connecticut sportsbooks were not operating online in 2021. Mississippi and Arkansas are retail only.

Enjoyed a recent guest spot on a podcast and video series hosted by SeventySix Capital Managing Partner Wayne Kimmel, who did a nice job of turning the tables on me. Im usually the one asking him the questions. We dove into recent sportsbook sponsor movement around college sports, how sports betting fits into the media landscape and what the coming year might bring -- and told a few war stories. You can find the YouTube video here or Apple podcasts version here.

SeventySix Capital's Wayne Kimmel and I discussed the state of sports betting

Excerpt from:

SBJ Betting: Collins, Grubman ready to hit the market with Super Group - Sports Business Journal

Introduction to Sports Betting

Online crypto betting sites are gaining tremendous popularity as they provide an additional way of winning some extra bucks. Most of the betting and casino platforms offer a variety of sports events, tournaments and have a diverse variety of sports betting options. The demand for online sports betting is growing exponentially which is leading to the development of new services in this industry sector. Nevertheless, not all platforms are secure and legit. Therefore, players, who do not want to lose their money due to fraud and scamming activities, must carry out basic ground work to check the background and trustworthiness of the sports betting and casino sites.

Crypto sports betting works exactly the same way as traditional sports betting. The only difference between the two lies in the mode of payment. Crypto betting sites offer an additional payment method which includes cryptocurrency. Crypto betting is a kind of gambling where players bet on certain leagues or matches of various sports events. They place bets on the outcome of the matches and games in order to win money. The most commonly available cryptocurrencies in crypto betting are Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dash and many more. Crypto sports betting offers a low cost and high-security environment compared to regular betting sites. Crypto sportsbooks offer the same kinds of sports as available on regular sites including football, rugby, cricket, tennis, hockey and many more.

Loosely speaking, there is no major difference between regular sports betting and crypto sports betting. The only difference lies in the type of transaction available on these two platforms. In the case of crypto sports betting, all the players need to do is sign up with the best betting website and transfer funds in crypto directly from their crypto wallet by connecting the betting website to the wallet account.

Deposit the initial crypto amount directly into the wallet using a preferred cryptocurrency and fiat currency and transfer it to the Sportsbook account where the players can place their bets. Moreover, there are certain sportsbooks that offer Live Betting which can sometimes be riskier than regular betting.

Players can also withdraw their winnings by converting their cryptocurrency into their chosen fiat currency based on the existing exchange rate in the market. Use any cryptocurrency supported by the betting site and continue betting safely.

Crypto sports betting continues to be relatively new to many players which leave them with certain complicated legal questions. The Crypto Gambling Foundation was developed to make sure transparency and fairness is offered to the players by promoting and verifying betting operators that follow strict ideologies of ethical practises. For most betting operators, the promotional opportunities of the foundation provide a strong incentive to comply.

Simultaneously, the US BTC betting as well as sports betting with other digital currencies such as Ethereum, Litecoin, Dogecoin and others, are legal only in Nevada, Delaware and New Jersey. This restriction is monitored and regulated by the UIGEA (Unlawful Internet Gambling Enforcement Act). Note that the 2006 legislation limits credit card companies and banks from allowing transactions for online betting and gambling in states where gambling is illegal. Nevertheless, due to the benefits of cryptocurrencies such as complete anonymity and privacy, many players keep joining and creating betting accounts in countries where crypto payments are allowed. However, the legalities of such a practice still remain unclear but the overall consensus is that crypto sports betting is acceptable given that the platforms are reputable in the casino and betting industry.

With crypto sports betting, players can buy and sell cryptocurrencies and bet on real and entertaining sports events of their choice without requiring any mediators or intermediaries. It is also possible for the players to use crypto betting on other sports events such as tennis matches, horse races and many more, which are massively popular in the cryptocurrency world. This has allowed people to bet on different sports events without having any financial restrictions.

Sports betting with crypto has a bright future and it is believed to become more and more popular in the upcoming years. Transactions made in cryptocurrency has substantially increased due to the booming crypto economy. Crypto betting is predicted to see gigantic growths and leaps in the future owing to the presence of billions of cryptocurrency users and multiple crypto sportsbooks that provide crypto wagering.

Various research and studies have shown that more than one-fourth of young adults within the age group 18 to 30 are more inclined towards trading and investing in cryptocurrency, while not all of them have the potential to actually lose money.

One of the reasons why cryptocurrency in the betting and gambling industry has become so popular among the youth is that they have turned to alternative investments (crypto) which they find simple to understand. Many of them do not have faith in traditional investment avenues and prefer to rely on their research instead of using insights from traditional organisations such as financial advisers.

Moreover, the crypto market is open 247365 days which means young people, who are working, do not have to waste their valuable time in crypto trading and investment. They can do so in their own free time. They have a positive outlook towards crypto and Blockchain technology and at the same time, they feel quite disconnected from traditional forms, as they find crypto more fun and entertaining, on the whole.

To sum up, various gambling bodies and institutions are not currently regulating cryptocurrencies, hence, bettors and operators can still expect a bright future in the crypto space. While most platforms fear interference from gambling authorities, others believe that the Blockchain ledgers will prevent gambling authorities from interfering in a crypto transaction. Betting sites have prepared themselves to adjust to new changes if they happen.

All in all, sportsbook platforms tend to feel quite confident about exploring the digital market as it guarantees stealth and privacy. Betting platforms offer the most incredible features of cryptocurrency and blockchain and they have transformed them into important tools for optimum sports betting experience in the digital world. Until and unless there are mandatory shutdowns and operations are forced to cease production, crypto bettors and operators can be at peace, knowing that the privacy design of the Blockchain is constantly protecting their assets as well as identity.

Link:

What Will the Future Bring in the Crypto Sports Betting Industry? - TimesOfCasino

Agreement Calls for Two Retail Sportsbooks at Tulalip Resort Casino and Quil Ceda Creek Casino

BOSTON, Jan. 19, 2022 (GLOBE NEWSWIRE) -- DraftKings Inc. (Nasdaq: DKNG) and the Tulalip Tribes of Washington today announced an exclusive market access partnership that will bring the DraftKings retail sportsbook experience to the state of Washington.

Plans are underway to open DraftKings retail sportsbook locations at Tulalip Resort Casino and Quil Ceda Creek Casino, both located just 30-minutes north of Seattle in Tulalip, WA. Initial design plans for the DraftKings Sportsbook at Tulalip Resort Casino, pending licensure and regulatory approvals, will feature a 5,000 square-foot space with a 50-foot video wall and more than two dozen kiosks and eight ticket windows. The design of the DraftKings Sportsbook at Quil Ceda Creek Casino is still early in the planning phase but is expected to feature state of the art technology and share the same world-class betting experience found across all DraftKings branded retail sportsbooks.

"As we get ready to open our sportsbooks, we are excited to announce our exclusive partnership with the best in the business, DraftKings, said Teri Gobin, Chairwoman, Tulalip Tribes. We're ready to take our gaming experience to the next level. Like Tulalip, DraftKings is committed to excellence and, together, we're going to give sports fans a one-of-a-kind experience. We can't wait for our customers to share our journey as we build the newest addition to our entertainment destinations."

Once operational, Washington will mark the 19th state in which DraftKings is live with its Sportsbook product.

Today marks an exciting day for DraftKings as we are set to expand our sports betting footprint to the great Pacific Northwest, said Michael Kibort, Sr. Director, Retail Sportsbooks at DraftKings. In collaboration with the Tulalip Tribes of Washington, we look forward to bringing the very best in real-money gaming experiences to a state with a passionate fanbase spanning major professional sports leagues.

Story continues

DraftKings is committed to creating inclusive and responsible pathways for people to build, create, imagine and innovate through the DraftKings S.E.R.V.E.S. program, with a focus on Service, Equity, Responsible Gaming, Vitality, Entrepreneurship, and Sports. Responsible gaming is a key pillar of the DraftKings S.E.R.V.E.S. program and DraftKings collective mission is to protect consumers with groundbreaking technology, employee training, resources for customers, and the support of evidence-based research.

Fans can find the latest betting markets and more by downloading the DraftKings Sportsbook app available via iOS and Android here.

About DraftKingsDraftKings Inc. is a digital sports entertainment and gaming company created to fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming and digital media. Headquartered in Boston, and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings is a multi-channel provider of sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. DraftKings Sportsbook is live with mobile and/or retail betting operations in the United States in Arizona, Colorado, Connecticut, Illinois, Indiana, Iowa, Louisiana, Michigan, Mississippi, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia, West Virginia, and Wyoming. DraftKings daily fantasy sports product is available in 6 countries internationally with 15 distinct sports categories. DraftKings is both an official daily fantasy and sports betting partner of the NFL, NBA, MLB, NHL, PGA TOUR and UFC as well as an official daily fantasy partner of NASCAR. Launched in August 2021, DraftKings Marketplace is a digital collectibles ecosystem designed for mainstream accessibility that offers curated NFT drops and supports secondary-market transactions. DraftKings also owns Vegas Sports Information Network, Inc. (VSiN), a multi-platform broadcast and content company.

About Tulalip Tribes of WashingtonThe Tulalip Tribes is a federally-recognized Indian tribe located on the Tulalip Reservation in the mid-Puget Sound area bordered on the east by Interstate 5 and the city of Marysville, Washington; on the south by the Snohomish River; on the north by the Fire Trail Road (140th); and on the west by the waters of Puget Sound. The Tulalip Reservation exterior boundaries enclose a land-base of 22,000 acres, more than 50 percent of which is in federal trust status. The Reservation is rich with natural resources: marine waters, tidelands, fresh water creeks and lakes, wetlands, forests and developable land. The Tulalip Reservation was reserved for the use and benefit of Indian tribes and bands signatory to the Treaty of Point Elliott of January 22, 1855. Its boundaries were established by the 1855 Treaty and by Executive Order of President U.S. Grant dated December 23, 1873. It was created to provide a permanent home for the Snohomish, Snoqualmie, Skagit, Suiattle, Samish and Stillaguamish Tribes and allied bands living in the region.

About Tulalip Resort CasinoAward-winning Tulalip Resort Casino is the most distinctive gaming, dining, meeting, entertainment and shopping destination in Washington state. The AAA Four-Diamond resorts world-class amenities have ensured its place on the Cond Nast Traveler Gold and Traveler Top 100 Resorts lists. The property includes 192,000 square feet of gaming excitement; a luxury hotel featuring 370 guest rooms and suites; 30,000 square feet of premier meeting, convention and wedding space; the full-service T Spa; and multiple dining venues. It also showcases the intimate Canoes Cabaret and a 3,000-seat amphitheater. Nearby, find the Hibulb Cultural Center and Natural History Preserve, Cabelas and 130 designer names at the Seattle Premium Outlets. The Resort Casino is conveniently located between Seattle and Vancouver, B.C. just off Interstate-5 at exit 200.

About Quil Ceda Creek CasinoOpened in February 2021, Quil Ceda Creek Casino is the newest major gaming, dining and entertainment destination in the Northwest. It spans 126,000 square-feet and is more than twice the size of the former Q casino property across the street. The new casino features 1,500 gaming machines and 16 table games; The Kitchen, an exciting new Food Hall experience with venues serving a variety of made-to-order dishes; The Landing, offering classic favorites on the menu for full-service, a la carte dining; The Stage, offering expanded entertainment offerings including live music, sports viewing on massive state-of-the art video walls, and other events; and a 1,000 stall, six-story parking structure with additional surface parking and charging stations for electric vehicles. Quil Ceda Creek Casino is situated on 15 acres of Tulalip Tribal land located directly off I-5 at exit 199.

DraftKings Forward-Looking StatementsCertain statements made in this release are forward looking statements within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words estimates, projected, expects, anticipates, forecasts, plans, intends, believes, seeks, may, will, should, future, propose and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside DraftKings control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see DraftKings Securities and Exchange Commission filings. DraftKings does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Media Contactsmedia@draftkings.com@DraftKingsNews

Dan Miller, Curator PR for Tulalip Resort Casino: 206.979.4055, dan.miller@curatorpr.com

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DraftKings and Tulalip Tribes of Washington Join Forces to Operate Sports Betting in the Evergreen State - Yahoo Finance

Jan 22, 2022; Cleveland, Ohio, USA; Cleveland Cavaliers forward Evan Mobley (right) drives to the basket against Oklahoma City Thunder forward Mamadi Diakite (left) during the first half at Rocket Mortgage FieldHouse. Mandatory Credit: Ken Blaze-USA TODAY Sports

The Cleveland Cavaliers are having a breakthrough season. Their opponent Monday night, the New York Knicks, know the feeling all too well that was them a year ago.

Fast forward a year, and the Knicks are fighting for their play-in lives, where they currently sit in 11th. The Cavaliers, meanwhile, are sitting above the fray in fifth in the East and rolling, having won six of their last seven.

Theyre a big 7.5-point favorite in this one, which tips off at 7pm ET at Rocket Mortgage Fieldhouse and can be seen live on NBA League Pass.

New Yorkers: heres your chance to place a bet, as mobile and online betting are now available in the Empire State.

Odds as of January 23rd at BetMGM

After their six-game losing streak was snapped at the hands of the Chicago Bulls, Cleveland got right back to winning Saturday night, putting the Oklahoma City Thunder in a vice in a 94-87 win.

Darius Garland led the way, scoring 23 points and dishing 11 assists, the fourth time in five games hes led the team in scoring. Books have noticed, as Garland ranks third in 2022 NBA Most Improved Player odds.

Big man Evan Mobley, the current betting favorite in the 2022 NBA Rookie of the Year odds, chipped in with 15 points and 17 rebounds. His twin-tower counterpart, Jarrett Allen also doubled-up, scoring 13 points and adding 14 boards.

Cleveland, ranked third in defensive rating in the NBA, held the Thunder to 38.8% shooting from the field, including a paltry 12-for-41 behind the arc, just a 29.3% clip.

They will be a little short-handed coming into this one, however, as forward Lauri Markkanen is out with an ankle injury, while the recently-acquired Rajon Rondo (hamstring) will be a game-time decision.

New York put an end to a three-game skid with a 110-102 win over the LA Clippers on Sunday.

RJ Barrett led the way with 28 points, 14 rebounds and six assists, while Julius Randle added 24 points, nine rebounds and five assists.

With the Knicks playing consecutive nights, its important to note both New York stars played 40+ minutes, and fatigue may play a factor Monday night.

New York does pretty well on the defensive end, holding teams to 104.5 points per game, good for 5th-best in the NBA, but its their offensive attack that may be worrisome. The Knicks score at a 104.1 clip, the fourth-worst rate in the league.

Theyll be going against a Cavaliers defense that has the second-best scoring defense, limiting teams to 102.5 points per night.

Another key battle will be in the paint, where the Knicks allow the second-fewest points, but where Cleveland scores at a top-10 rate, averaging a shade under 48 points per game.

Just like Cleveland, they may be down some key pieces, with big man Mitchell Robinson (ankle) and guard Kemba Walker (knee) game-time decisions for Monday.

This will be the second of three meetings between these teams on the year, with the Cavs thumping the Knicks 126-109 at MSG on November 7.

Hard to glean too much from that contest, as Clevelands leading scorer was Ricky Rubio (37 points), who is done for the year with a knee injury, as is Collin Sexton, who started at guard.

Mobley did have 26 points and nine boards, while Allen had 18 points and 17 boards. They held New York to 9-for-31 shooting from three.

Cleveland owns the best record against the spread in the NBA at 29-15-3, a sharp 65.9% cover rate. Theyre tied for the second-best ATS record as a home team at 14-7-1.

New Yorks 23-24 record is identical to their ATS mark, but surprisingly, theyve been a good bet in back-to-backs, sporting a 4-2 mark ATS when playing on zero days rest.

While Cleveland should win that spread is a little high. I think defense reigns supreme, with two of the top scoring defenses going head-to-head.

The pick: Under 207.5 points (-110)

NFL NBA Sports Writer & Editor

Having worked in and around sports since 1997, Eric is truly a knowledgeable expert. The two-time journalism grad specializes in all things NBA and NFL. From TSN.ca to CTV's Olympic Broadcast Consortium, Eric's work has appeared in local and national publications alike.

NFL NBA

Having worked in and around sports since 1997, Eric is truly a knowledgeable expert. The two-time journalism grad specializes in all things NBA and NFL. From TSN.ca to CTV's Olympic Broadcast Consortium, Eric's work has appeared in local and national publications alike.

Original post:

Knicks vs Cavaliers Odds and Picks - Sports Betting Dime

Jan 20, 2022; Dallas, Texas, USA; Phoenix Suns guard Devin Booker (1) reacts during the first half against the Dallas Mavericks during the first half at American Airlines Center. Mandatory Credit: Kevin Jairaj-USA TODAY Sports

There have been two constants this NBA season. Players getting ruled out thanks to COVID, and the Phoenix Suns piling up lengthy winnings streaks.

They won 18 in a row from October 30th to December 2nd, and then five straight before Christmas. Following their latest victory, theyve now reeled off six consecutive victories, and will look to extend this latest streak on Monday (January 24th) against Utah.

Odds as of Jan 23rd at BetMGM.

The Suns opened up as a 7.5-point favorite in a contest that features a total of 222.5. Tip-off is scheduled for 9:00 pm ET at the Footprint Center in Phoenix, Arizona, with each team missing key contributors due to injury.

As a -303 favorite, Phoenix has a 75.19% implied win probability compared to just 29.41% for Utah at +240.

The Suns took down Indiana 113-103 on Saturday night, but the win came at a cost. Both starting forward Jae Crowder and back-up guard Cam Payne left the game with wrist injuries, and have already been ruled out for Mondays contest versus the Jazz.

Phoenix has already been playing without starting center Deandre Ayton for the past three games with an ankle injury, and hes doubtful to suit up against Utah.

With their roster depleted and Devin Booker struggling, Mikal Bridges paced the offense versus the Pacers with a season-high 23 points. Bismack Biyombo, whos logging heavy minutes in Aytons absence, matched a career-high with 21 points, while also grabbing 13 boards.

Chris Paul meanwhile, added 18 points and 16 assists, as the team shot 49% in spite of Bookers off night. The Suns leading scorer managed just 11 points on 5-of-23 shooting.

The victory improved Phoenix to an NBA-best 36-9, and helped the Suns match their best start in franchise history. The Suns currently have the second-best NBA title odds among Western Conference teams at +800. Only Golden State (+460) is shorter.

The Jazz were in action on Sunday night in Golden State, looking for just their third win in their past nine outings. Utah did pick up a victory in their previous game prior to its tilt with the Warriors, taking out Detroit 111-101.

Rudy Gobert put up a monster stat line of 24 points, 13 rebounds, and 4 blocks, while Bojan Bogdanovic added 23, and Jordan Clarkson splashed 20. The Jazz shot 45.6% from the field, but the game was won down low. Utah outscored the Pistons 50-34, led in large part by Goberts efforts.

The Jazz were without leading scorer Donovan Mitchell against Detroit, as they were on Sunday versus Golden State. Mitchell is dealing with the aftermath of a concussion he suffered last Monday, and didnt even accompany Utah on its current road trip. Entering Sunday, the Jazz were 4-2 without Mitchell in the lineup this season, but average 3 fewer points compared to when hes on the floor.

Each of Utahs latest two contests minus Mitchell have failed to hit the total, while the under has hit in 26 of their 46 games overall. Offense will be tough to come by on Monday, as Phoenix ranks second in defensive rating, and fourth in scoring defense.

The Suns defensive prowess has led to the bulk of their games falling short of the number, especially recently. The under has hit in five of their last six, and eight of their past 12 outings.

With Utah missing its leading scorer, and Phoenix missing two starters and a key rotation piece, this game has a strong chance to underwhelm in the boxscore. While the Arizona bettors public may be tempted to take the Suns, take the under.

Pick: Under 222.5 (-110)

NFL NBA MLB NHL Golf Sport Writer & Editor

Chris began his career at Hockey Night in Canada over 15 years ago. He has since worked at TSN for over 12 years as a writer, line-up producer, field producer, newsroom supervisor for Sportscentre, and presently as a promotions producer.

NFL NBA MLB NHL Golf

Chris began his career at Hockey Night in Canada over 15 years ago. He has since worked at TSN for over 12 years as a writer, line-up producer, field producer, newsroom supervisor for Sportscentre, and presently as a promotions producer.

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Suns vs Jazz Odds and Predictions - Sports Betting Dime

So how does sports betting actually work? Sports betting is one of the most rapidly expanding entertainment industries on the planet. The act of wagering on the results of a sports game is known as sports betting. The consequence could be easy, like which team will win the game, or it can be much more complex, namely by how many goals a team will score.

In todays fiercely competitive sportsbook industry, there are a variety of betting scenarios accessible, and knowing which bets fulfill which aims is a good way to increase your chances of winning. There are various ways to make money gambling on athletic games, ranging from sharp spread wagers to speculative wagers.

Over a year ago, in March, Governor Jay Inslee actually signed it into law, legalizing sports betting and casinos in Washington, DC. Only in-person and digital online gambling on local casino grounds is permissible under the new gambling permit that was authorized in 2021. In Washington, there is no national mobile sports gambling, and it is unclear whether this will ever change. Even though sports betting and in-live casinos are permissible in Washington, there have unfortunately come to a lot of limits with this new law. The law states that all bets have to be placed and accepted by the local casinos and that is only if the client is physically present at the casino. This means that in-app sports betting is only allowed if you are placing a bet on a local sports team and so far, nobody seemed to have made any real effort to compel this law. Who knows if they ever will?

Currently, about 20 local casinos have been approved so far. In 2021, Washington State became the first legislature to allow a new sports wagering law. Most sports wagering state regulations are contained in the Gambling Act, which also includes extra money trafficking and sport authenticity requirements to protect betting and sporting events taking place in the state and across the continent. We came across an informative source that outlines the best online sports betting sites in Washington, which take bets from Washington residents, a how-to guide for starting real-money wagers, and a comprehensive breakdown of legal gambling alternatives in The Evergreen State. Includes rankings and reviews.

Washington has become one of the only states in the globe that have very tight, limited restrictions on their residents regarding sports betting as well as casinos. If you live in Washington and are thinking about establishing a casino, well... you are definitely in for a long ride. For starters, you have whats called an Internal fee of about 70,000 euro that covers the casino management service, you will have integrity monitoring, storage of data for sports gambling, and last but not least, geofence and geolocation monitoring and much, much more.

SportsBetting AG is a leading online sportsbook site that is consistently recognized among the top businesses that are recommended year after year. Their online sportsbook services are available in every state in the United States. This casino offers game lines such as point spreads, betting line odds, as well as prop bets, wagers, and other betting choices for many major professionals, schools, and even recreational sports such as the WNBA, NHL, and many others.

Whenever line hunting for your next legally available sports wager, we recommend checking out the BetUS sportsbook, which offers chances on all major events taking place around the world and allows players aged 18 and above to join. BetUS intends to use bitcoin as a form of payment - which is quite rare to find when looking at other sportsbooks. While they, unfortunately, do not provide the same wide range of options as other online sportsbooks in each of their respective divisions, they do offer a broad array of betting odds and continually provide the best value for your money.

Launched in 2010, Bovada has become an extremely independent and successful sportsbook. Bovada provides excellent customer service as well as gambling lines on the most popular sports throughout the entire globe. Bovada provides insurance for the most prominent collegiate and pro sports throughout the world. The Prop Builder at Bovada gives players hundreds of alternatives for each and every wager, and the live bet converter also shows you just how much you stand to earn on all of your selections.

To summarize, even though sports gambling and in-live casinos are authorized and completely legal, Washington may not be the greatest place to visit if you are a gambling connoisseur. There are better places you can visit if you want to visit beautiful casinos and place your wagers on the best sports team like India, known for its top-rated casinos and its best sportsbooks.

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What You Need To Know About Sports Betting Laws In WA - The Daily Collegian Online

ROCHESTER, N.Y. (WROC) Put your money where your mouth isor maybe where your phone is.Now that mobile sports betting is live in New York State, locals are prepping their bets for the Bills divisional playoff game this weekend.

Christian Damico said hes putting everything on our hometown team.

Really excited for the Bills game, I think were going to beat the chiefs. I went to Kansas City last year for the AFC Championship game so I know how its going to be there this weekend and its going to be a good game, Damico said.

The Governors 2023 state budget briefing book revealed $150 million was bet on sports during the first weekend that mobile sports betting went live two weekends ago. Just this week it was reported that New York is likely to surpass New Jersey for the top spot in the national mobile sports betting market. This is according to a company that most of the legal sports betting industry uses to verify their customers are where they say they are.

They are constantly asking for the Wi-Fi password. You have to be in a location in New York to be able to place the bets on the app. Some out of towners, their phones wont work because they have to be logged in to a Wi-Fi network to place a bet, said pub owner, Tom OCallaghan.

OCallaghans Pub on Monroe Avenue has adjusted some of the offerings at the bar to meet the needs of those who are betting this weekend.

We have video billboards that will show the odds of all the games, both college and professional that will just stream throughout the bar on two different TVs. Anyone looking for their odds can check the boards right there or go right to their apps, OCallaghan said.

Online sports betting was originally legalized in New York as its expected to bring in big money for the state.Lawmakers said they anticipate the industry can generate around $500 million in tax revenue.DraftKings was one of the first sports betting companies to be legalized in New York. Johnny Avello is the Director of Race & Sports Operations for DraftKings and said mobile sports betting being legalized in New York State is a huge win.

The bets that came in from New York were astounding, just huge numbers. New York was right there at the top of our betting numbers. We knew that New Yorkers like to gamble and they sure showed it over that weekend, Avello said, And when we do get to Sunday, the bills arent the first game either. Thats the last game of the divisional playoffs. For us at DraftKings, a lot of things will be tying into that game and I know that the bills fans are excited and theyre going to be betting their team and all the props we have to offer.

If you plan on stopping by OCallaghans Pub this weekend to watch the game or place some bets, be sure to buy a drink or two.

Were giving away some Josh Allen jerseys, some memorabilia, jackets, and a ton of bills cozies, OCallaghan said, All you have to do is come in and buy a beer, we enter you to win just by spending money here.

The bills game starts at 6:30 pm on Sunday. The only place you can watch it is on WROC-TV.

Continued here:

Mobile sports betting expected to soar ahead of NFL divisional playoffs - RochesterFirst

When Allison Saillard joined Penn Interactive as a senior project manager, she knew she was taking a gamble.

Headquartered in Center City West, Philadelphia, but with a hybrid remote culture of over 350 employees, the interactive gaming company has made its name in the sports betting and online gambling space something Saillard knew very little about.

The industry I was working in before was very female-dominated, Saillard said. At Penn Interactive, its not just the technology, but the industry of sports betting and casino that is dominated by men.

Working in compliance and project management, this growing group of women at Penn Interactive have helped launch its app in 11 states in a little over a year, including seven in the past three months alone.

Allison Saillard. (Courtesy photo)

Because each state has different laws pertaining to gambling, understanding and launching a gambling app across the country comes with its own particular set of challenges. The app is slightly different from one state to another, and without the proper communication between internal and external stakeholders, its a challenge to tailor-make and launch the app across the country. Thats why compliance and project management hires are essential.

Technical Compliance Manager Mary Obusek helps bridge that internal and external communications gap. She communicates externally with state regulatory bodies, taking their feedback and translating it to the internal engineering team.

Oftentimes, Im that conduit or middle person to talk about technical issues to our own internal Penn interactive compliance team and state regulatory bodies who may not understand the technology coming from the engineering side, said Obusek.

Before Technical Project Manager Dara Good joined Penn Interactive, the product, engineering, and compliance teams were disjointed in many ways, attempting to communicate across siloed departments.

Mary Obusek. (Courtesy photo)

I think my role came about here because the company and the engineering team at PI was growing so fast, Good explained. This role came about to facilitate, streamline, and road map work across teams. So I think that this role is pretty pivotal to filling the gaps that no one anticipates happening.

Not only has Penn Interactive launched in many states in the past year, but its also grown its team, creating an opportunity for more voices in the room to help streamline processes and bring a unique perspective to app development.

Obusek may be an admitted sports fanatic, but Good and Saillards backgrounds are far from it. Its that diversity of thought that helps strengthen Penn Interactives growth and process as it expands.

I think we can bring a unique look, whether its from a design perspective, product perspective, or even an engineering perspective on how to fix things and what we do, Obusek said. Online sports betting may skew male, but more women are joining these apps every year (and early research suggests women may even be better at betting). Bringing in different voices in the development phase could also inform the engagement from the end-user.

Penn Interactive encourages a culture of asking questions and learning on the job.

Dara Good. (Courtesy photo)

Culture here at Penn is very open and communicative, Good said. People from all different levels throughout the company are constantly asking questions and encouraging collaboration to the point where no one should feel intimidated to ask questions.

Whats more, Penn Interactives growing team of women in compliance and technical project management are expanding what it means to be a woman in a technical role. Women in tech doesnt just mean a woman programmer. Tech-adjacent roles are equally essential in the process.

Im not a super technical person, but I love technology and I love being around it facilitating it, Saillard said. I want other women to understand that there is a role for them in whatever aspect it is in technology, there is space for us.

Theres the oft-cited statistic that women only apply for jobs when they meet 100% of the qualifications, whereas men apply when they meet just 60%. Just because someone isnt cranking out lines of code doesnt mean there isnt a space for them in a technology role. In fact, Saillard said, her experience has been more about her willingness to learn on the job and ask questions than the skill sets she brought in.

As long as you are willing to learn and willing to understand ways to improve the experience, then you are a great person to have on the team, Good said. Thats something thats been super attractive to me, not only as a female but also as someone who didnt have experience in this industry.

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Penn Interactive expands its sports betting app, and changes company culture along the way - Technical.ly

(Getty)Joe Burrow and the Cincinnati Bengals face the Tennessee Titans in the NFL Playoffs on Saturday, January 22.

More and more states have legalized online sports betting, with the most recent being New York, which launched FanDuel Sportsbook, among mobile apps for wagering.

Other states have set the wheels in motion to legalize online sports betting in the near future.

And in one particular state, many have been wondering:

When will online sports betting be legal in Ohio?

Per the Ohio Casino Control Commission, sports betting in Ohio has a launch date set for January, 1, 2023, after Gov. Mike DeWine signed House Bill 29, which legalized sports betting throughout the state whether it be online or at a brick and mortar casino. The bill was signed on December 22, 2021.

The Ohio Senate passed HB 29 in June 2021, but like most of the sportsbooks that have been legalized in various states around the country, Ohios delay in passing of the bill centered around issues with the online betting aspect.

That now, of course, has been resolved.

So what are the next steps to getting a live launch for Ohio sports betting?

With the signing of the House Bill 29, sports betting is technically legal in the state of Ohio.

However, online sports betting is not as no app operators have been approved just yet.

Also, while there are 11 operating casinos in Ohio, none of them have sportsbooks. That is likely to change, however, as its expected most of these casinos will apply for sportsbook licenses.

The state will be allowed to start issuing sports betting licenses on April 1.

While January 1, 2023, is the target date, some Ohio lawmakers are hoping to launch sports betting earlier.

We want to get this up and running as soon as possible, but were building a whole new industry, Sen. Kirk Schuring said at the time of the HB 29 signing to The Cincinnati Enquirer. Were hoping it can be done sooner (than January 1, 2023).

There is some work to be done first. Paperwork, choosing which operators will get sportsbooks, and server testing, to name just a few.

The HB 29 calls for as many as 25 online sportsbooks initially. Casinos, sports teams, stadiums, bars, and restaurants can all apply for licenses. And, of course, online apps can apply to be online betting operators, too.

Casinos and sports teams that have initial licenses can apply for a second if they can prove to the Ohio Casino Control Commission (OCCC) that it will benefit the state economically.

It is unknown at this time what sportsbooks will be coming to Ohio, although the FanDuel Sportsbook, an affiliate partner of Heavy, has been operating Daily Fantasy Sports (DFS) in the state for sometime.

It is assumed FanDuel, among other online apps, will make a strong push for an online sports betting license in Ohio as soon as they possibly can.

Create a FanDuel Sportsbook account

While it isnt yet legal to bet sports online in Ohio, the FanDuel Sportsbook is live and legal four of the five states that border it.

Pennsylvania, Michigan, Indiana, and West Virginia all border Ohio and each have already launched the FanDuel Sportsbook.

If youre an Ohio resident and want to place online wagers, you can. You just need to travel to a state that has legalized online sports betting and most of your neighbors have. Simply take a trip over the border to be physically present in one of these four states and youre ready to go.

All you have to do is get a FanDuel Sportsbook account, which takes just a few minutes with a couple of quick steps:

1) Download the app for iOS or Android. You can find those in the App Store (iPhones) or Google Play Store (Androids).

2) Create a FanDuel Sportsbook account.

3) Make your initial deposit of at least $10.

4) Choose the sporting events of your choice and place your bets (there is a $5 minimum bet).

You must be at least 21 years old to make online bets.

Bet with FanDuel Sportsbook

The FanDuel Sportsbook has no shortage of sports to wager on. Theyre currently taking bets on the following sports:

And these are just the sports that are in season. Other sports are available in season. As for the types of bets, again, too many to list.

There are the basic bets, like point spread, moneyline, and total (over/under). Then there are the parlays, teasers, team and player props, in-game bets, and more. The wagers tend to vary from sport to sport.

If you are a resident of Ohio and happen to be in Pennsylvania, Michigan, Indiana, or West Virginia and want to place a bet on an NFL Playoff game, FanDuel Sportsbook has a new user promotion for first-time bettors on the app.

You can bet $5 to win $150 on any of the four divisional games this weekend. Thats 30/1 odds on any of the games.

If your team wins, you get $150 cash, not site credit. This is promo is for new users only.

Claim this offer

This weekends games are (Point Spreads provided by FanDuel):

It sure is. Pennsylvania legalized online sports betting in May 2019.

FanDuel, which has a sportsbook at Valley Forge Casino in King of Prussia, entered the PA online betting scene in July of 2019.

Once youre physically in the state, you can place online sports bets with FanDuel Sportsbook.

Michigan launched in-person betting on March 11, 2020, just days before the casinos were shut down due to the pandemic.

They were quick to roll out online sports betting in January 2021, just in time to take Super Bowl wagers.

FanDuel Sportsbook went live in Michigan on January 22, 2021, so if youre present in the state, you can place sports bets online.

Indiana legalized sports betting in September 2019, with online apps coming into the fray about a month later.

The FanDuel Sportsbook launched in October 26, 2019. So if youre in the Hoosier State and want to place some online sports bets, as long as youre at least 21 years of age, you can legally wager.

Bet online with FanDuel Sportsbook

West Virginia sportsbooks have been accepting in-person wagers since August 2018, with online apps going live a year later.

The FanDuel Sportsbook online app was one of the first to launch, going live in August 2019.

Just as the other states who have legalized online sports betting, in order to do so, you must be physically present in the state and be at least 21 years old.

In addition to Ohios neighbors mentioned earlier Pennsylvania, Michigan, Indiana, and West Virginia there are nine other states who have legalized online sports betting and feature FanDuel as an operator.

Those states include Arizona, Colorado, Connecticut, Illinois, Iowa, New Jersey, New York, Tennessee, and Virginia.

If youre in one of the those states, you can create a FanDuel Sportsbook account and begin placing online bets, just as long as youre 21 years of age or older.

Ohio is one of the most populated states at roughly 11.7 million, 7th-most in the U.S., according to 2021 numbers.

The state also has professional sports teams in the NFL (Cincinnati Bengals, Cleveland Browns), NBA (Cleveland Cavaliers), MLB (Cincinnati Reds, Cleveland Guardians), NHL (Columbus Blue Jackets), and MLS (Columbus Crew, FC Cincinnati). There are also over a dozen major colleges and universities with Division I athletics.

The Ohio Legislative Service Commission estimates sports betting can eventually produce upwards of $3.35 billion in revenue in the state.

For comparison sake, two bordering states with similar populations Pennsylvania (12.8 million) and Illinois (12.6 million) are seeing record-setting numbers.

According to Legal Sports Report, Pennsylvania posted a record $84.9 million in revenue in November 2021, while Illinois set a revenue record of $78.2 million over the same month.

According to an article on SI.com from December 22, 2021:

A 10 percent tax on net revenue will be implemented, with roughly 98 percent of that going toward funding public and private K-12 education and the remaining 2 percent will go toward problem gambling assistance.

As for some geographical tax rate comparisons, Pennsylvania taxes 36 percent for online sports betting, West Virginia, like Ohio will be, is 10 percent, Michigan is 9.65 percent, and Indiana 9.5%.

Newly legalized New York has a 51.5 percent tax rate.

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When Will Online Sports Betting Be Legal in Ohio? - Heavy.com