Pennsylvania sportsbooks handled $111.4 million in wagers and earned $8.6 million in revenue in June, with a hold rate of 7.5%. Handle and revenue continue to increase rapidly every month as the sports betting industry recovers from the March crash caused by the coronavirus pandemic. … Read more
Art Schlichter was once a first-round draft pick from the Ohio State Buckeyes in the early 1980s with the world at his feet, until his gambling threw a promising career away. Long after his NFL career end, he continued to gamble on sports and new … Read more
PointsBet has received the seal of approval to open up shop in the Illinois sports betting industry after getting their temporary license from the Illinois Gaming Board (IGB). News of the latest state to allow PointsBet entry into their sports betting market has led the … Read more
Louisiana now has a legal tax rate of 8% set for its legal Daily Fantasy Sports (DFS) industry with the signing of House Bill 64 by Governor John Bel Edwards on Monday. The Bayou State expects to receive $375,000 in annual revenue from the DFS … Read more
New Jersey totaled $165 million in sports betting handle and $12.6 million in revenue in June—monthly increases of 40% and 28%, respectively. Casinos began reopening in early July and major North American sports leagues are already returning to play, which should boost handle and revenue … Read more
Indiana totaled a $29.8 million betting handle in June and collected $2.9 million in sports betting revenue. This raised $277,600 in state taxes. Handle was down 20% from May; revenue was also down 8%. It is strange to see betting handle and revenue decrease after … Read more
Iowa sports betting handle increased by $5.7 million, or 82%, in June. Total handle was $12.7 million. Even with a hold rate under 5%, Iowa sportsbooks collected $620,000 in revenue—a 24% increase from May. Casinos have begun to reopen with limited capacity and social distancing … Read more
DraftKings Sportsbook will open up its seventh retail location in the U.S. on Friday with the Mardi Gras Casino in Black Hawk, Colorado. The facility is only temporary while construction is being done for the final product which is expected to be seen by 2021. … Read more
Kindred projects a rise in revenue for the second quarter of this year compared to last year even with COVID-19 cancellations for sporting events. Revenue came from esports and virtual sports along with major cuts to marketing and payroll during this quarter The official interim … Read more
Rhode Island is in need of revenue with the Coronavirus Pandemic causing wider deficits and RI HB 8097 would help by allowing sports bettors to register for mobile sportsbooks at home. The sports betting law in Rhode Island at present requires bettors to register in … Read more
Deutsche Bank analysts foresee huge positive growth for GVC Holdings in the back half of 2020. Deutsche’s consensus projection for GVC Holdings set its target price at 1040 GBX, nearly 30% above the current price. One analyst went one step forward and projected 2020 earnings … Read more
PrizePicks is a popular domestic daily fantasy sports operator. The company received $850,000 in bridge funding, a form of short-term private investment aid, in response to the COVID-19 pandemic. The investors for this bridge funding believe in the long-term potential of PrizePicks as a major … Read more