Sports betting revenue

  • Delaware, Nevada, New Hampshire, Oregon, & Rhode Island all recorded bigger handle and revenue for the month of October in their sports betting markets.
  • The Pittsburgh Steelers and the Detroit Pistons entered partnerships with sportsbooks.
  • The Pittsburgh Steelers and the Baltimore Ravens will play on Wednesday after their Thanksgiving Day matchup was postponed because of the Coronavirus.
  • Lem Banker, the grandfather of sports betting and handicapping, died of natural causes on November 20 at the age of 93.

LAS VEGAS – A lot has happened this past week for the sports betting world. Most notably, five separate states, Delaware, Nevada, New Hampshire, Oregon, and Rhode Island all posted higher numbers for the month of October than they did for September.

The Pittsburgh Steelers and the Detroit Pistons have both partnered with sportsbook operators, joining the ever-growing popularity of gambling on sports.

The Pittsburgh Steelers and Baltimore Ravens game that was set to be played on Thanksgiving was postponed due to a COVID-19 outbreak within the Baltimore organization. And the sports betting community lost a legend in Lem Banker who died on November 20 at the age of 93.

Raking In Revenue In OR, NV, RI, DE, and NH

Delaware sports bettors placed $17.086 million on multiple sporting events for the month of October. This made the state $3.483 million in revenue from the industry. No mobile sportsbooks have been launched, and with a surge in engagement from month-over-month with a 37% increase from September’s numbers, that uptick could only stand to increase with a rollout of mobile sportsbooks in the state.

Nevada brought in a record amount of handle for their state with $660 million in October 2020 and $42.4 million in revenue from all of this sports betting activity. While this was a state record for the industry, it still lagged 18% behind the national record made by New Jersey in the same month with $803 million wagered on sports for the Garden State.

New Hampshire saw a combined total of $47,055,486 from mobile and retail sportsbooks for bets placed in the month of October. The state’s coffers collected $2,001,597 from all these wagers that were made.

This has been the most gambling activity on sports matchups that New Hampshire has seen in the current fiscal year, which began in July.

The Scoreboard app in Oregon had an increase in their sports betting revenue of 80.1% month over month. October handle for the app posted $29.455 million with a revenue of $2.751 million. The most wagered on sport was football, taking in $12,188,280 of all bets made in October.

Rhode Islanders made $34.7 million worth of wagers on sporting events in October. That was a 10.9% increase from September’s report. Total revenue for the month tallied in at $4.4 million.

That number is also up from the previous month by 83.3% as September saw $2.4 million in revenue. Almost half of all bets made for the month were done using mobile sportsbooks.

The Pittsburgh Steelers & The Detroit Pistons Partner With Sportsbooks

The Pittsburgh Steelers have partnered with BetMGM as their first official sportsbook brand. BetMGM will now have access to Steelers’ branding and statistics as well as other vital information for sports betting fans of the team.

The platform will also be able to post Pittsburgh-centered promotions for all sports bettors that sign up with the sportsbook and gamble on the games.

The Detroit Pistons went hard and signed with two sportsbooks, DraftKings and FanDuel. Both sports betting operators will be open for wagers on the team, however, only DraftKings will have Daily Fantasy Sports (DFS) for gambling fans of Detroit.

FanDuel will not have this offering through their partnership with the Pistons for users of the platform.

Thanksgiving Day NFL Game Postponed

Two out of three NFL games were played on Thanksgiving, a day for family, food, and football.

The Houston Texans beat the Detroit Lions 41-25, the Washington Football Team beat the Dallas Cowboys 41-16, and the Coronavirus beat the Pittsburgh Steelers vs. the Baltimore Ravens game, as it was postponed due to the Ravens seeing cases of COVID-19 with their organization.

The game that will now take place on Wednesday afternoon at 3:40 p.m. EST on the NBC network, changed betting odds on Thanksgiving as prop bets were affected when the matchup was rescheduled.

Legendary Sports Bettor Lem Banker Passed Away At 93

Lem Banker died from natural causes on November 20 at his home in Las Vegas at the age of 93.

He was well known in the sports betting community before the age of computers and technology and made his picks based on newspapers and word of mouth from various bookies nationwide.

Banker hit his stride in the ’70s as a famous handicapper when he chose the winner of the Super Bowl correctly for 13 years in a row, from 1973-1985.

Coming Up In The Sports Betting World This Week

The Michigan Gaming Control Board (MGCB) will be holding a meeting to issue sports betting licenses in December. The meeting was originally scheduled for December 8 but has since been postponed.

However, JCAR has waived the 15-day review period of the rules and regulations which will allow MGCB to approve operators for licenses and possibly launch their sportsbook platforms before the end of the year.

The first day of the regular session for the Maine State Legislature is set to convene on December 2. There are currently no bills on sports betting that have been listed to go before the Legislature. But this is expected to change seeing how close Maine came to legalizing sports betting during their last legislative session.

Ohio will be holding multiple meetings to close out the month of December. Their next meeting is on December 2. The bills that would legalize sports betting, Senate Bill 111 and House Bill 194 are not listed on the week’s posted agenda but that is subject to change at any point.

Sponsors for the bills are still positive that sports gaming legalization is possible in 2020 for the Buckeye State through these upcoming meetings.

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