cloudy.png
Wednesday September 18th, 2019 1:56PM

Larger US sports betting market races for (online) end zone

By The Associated Press
Related Articles
  Contact Editor

ATLANTIC CITY, N.J. (AP) — As the second NFL season following a U.S. Supreme Court ruling clearing the way for legal sports betting begins, the industry is growing larger and ever-more mobile.

Some unmistakable trends have emerged. The extra money that taxing sports bets generates has not exactly been a gusher, and the major professional sports leagues still have not succeeded in compelling gambling companies to cut them in on the action, preferring to sign commercial deals.

But the biggest is this: the future of sports betting in the U.S. is online. More than 80 percent of sports bets placed in New Jersey, the state that won the high court case last year, were made over the internet or on smartphones. The question of whether to allow mobile betting, and how to regulate it, has kept several states from entering the market or more fully expanding within it, as is the case in New York.

Chris Grove, a managing director with Eilers & Krejcik Gaming, says fully embracing online sports betting will be the biggest challenge for land-based casinos this year.

"It's clear that consumers overwhelmingly prefer to bet on sports online," he said. "Attempting to route consumers through the casino to access online apps will only limit the potential of legal sports betting and pump oxygen into the illegal market. Where would Amazon be if you had to go into a Kohl's to create your Amazon account before ordering anything?"

Justin Roper, an avid sports bettor from Knoxville, Tennessee, has numerous online accounts with U.S. providers as well as offshore operators. He says the convenience is a major reason.

"I can be sitting here at my house and instead of traveling to a casino, I have all my computer monitors right in front of me and I can see in a few seconds who has the best odds and make the bets right there and then," said Roper, 35, who calls himself "The Under Taker" for his fondness for low-scoring games. "I'll drive as far as I have to if it means getting the right number, but I want to be able to access as many books as I possibly can, and the way you do that is online."

When the Green Bay Packers and Chicago Bears kick off the season Thursday night, legal bets on the game can be placed in 13 U.S. states: Arkansas, Delaware, Indiana, Iowa, Mississippi, Nevada, New Mexico, New Jersey, New York, Oregon, Pennsylvania, Rhode Island and West Virginia. This time last year, it was only legal in five states.

Sports betting has been approved through laws or regulations but is not yet running in five additional states: Illinois, Montana, New Hampshire, North Carolina and Tennessee, as well as the District of Columbia and Puerto Rico. Colorado voters will decide in a November ballot question whether to allow sports betting there.

Rhode Island began online sports betting Wednesday.

There were 35 states that considered sports betting legislation in the first half of this year, compared to 18 in all of 2018, according to Gambling Compliance, which tracks legislation.

Despite the rapid growth of online betting, casinos are investing tens of millions of dollars in elaborate on-premises sports books. In Atlantic City, The Borgata opened a $12 million project in June that includes a new sportsbook and entertainment project, just over a week after Bally's opened its new $8.4 million sportsbook. Resorts and DraftKings spent millions more on a sports book there, while the FanDuel sports book at the Meadowlands Racetrack, just outside New York City, is the top grossing facility in New Jersey, taking in nearly $67 million in revenue from January through the end of July this year.

Resorts President Mark Giannantonio said his casino's in-person sports book has helped boost revenue from slots and table games, food and beverages, though he would not say by how much.

"There's no question people love to bet online, and we have a great option for that in DraftKings," he said. "But we also have quite a lot of people that come to our property to bet on sports, a whole new customer base. It was a natural fit for us."

Taxing previously illegal sports bets has major appeal to cash-strapped state governments. Yet sports betting has not proven to be the bonanza some might have hoped. An Associated Press analysis shows the seven states that reported on sports betting revenue for the fiscal year that ended in June brought in a total of $74 million in state taxes from the wagers, a drop in the bucket for most state budgets.

The nascent U.S. market is fertile ground for more established European operators, who are flocking to sign affiliation deals with American gambling companies. The U.S. branch of British bookmaker William Hill was an early entrant into the market. Since then, GVC has paired up with MGM Resorts in America, and in a deal announced Wednesday, London-based Smarkets joined with casino developer and operator Full House Resorts to offer online sports wagering in Indiana and Colorado (once it's legal in that state).

___

AP writer Geoff Mulvihill in Cherry Hill contributed to this story.

___

Follow Wayne Parry at http://twitter.com/WayneParryAC

  • Associated Categories: Associated Press (AP), AP Sports, AP Online Football, AP Online Headlines - Washington, AP Online Supreme Court News, AP Business, AP Sports - NFL
© Copyright 2019 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
April trial date set in R. Kelly's federal case in Chicago
A judge has set an April 27 trial date in R. Kelly's federal case in Chicago that accuses the R&B star of child pornography and obstruction of justice
3:14PM ( 12 minutes ago )
Judge orders Anheuser-Busch to halt 'corn syrup' labels
Judge orders Anheuser-Busch to stop trolling MillerCoors with 'corn syrup' packaging
3:09PM ( 17 minutes ago )
Fed survey says growth is steady despite Trump's trade wars
US Fed survey says growth is steady despite Trump's trade wars
3:02PM ( 24 minutes ago )
Associated Press (AP)
Peaceful Iceland amazed by weapons for VP Pence's security
Air Force Two, military jets and armed personnel have arrived in Iceland with armed personnel as U.S. Vice President Mike Pence visits the nation consistently ranked the most peaceful in the world
2:35PM ( 50 minutes ago )
Kansas treasurer drops Senate bid to challenge Rep. Watkins
Kansas' Republican state treasurer has abandoned a campaign for an open U.S. Senate seat to challenge a first-term GOP congressman he describes as vulnerable to Democratic defeat
2:32PM ( 53 minutes ago )
The Latest: Bencic beats Vekic to reach US Open semis
Bencic beats Vekic to reach US Open semifinals
2:05PM ( 1 hour ago )
AP Sports
Titans place K Ryan Succop on IR, add Cairo Santos
Tennessee Titans place kicker Ryan Succop on injured reserve, add veteran kicker Cairo Santos
11:26AM ( 3 hours ago )
Bottoming out: SEC's top teams roll, other squads struggle
Bottoming out: SEC's top teams roll, other squads struggle
11:01AM ( 4 hours ago )
Packers and Bears reverse roles in NFL's 100th season opener
Packers coach Matt LaFleur makes debut at Soldier Field to kick off NFL's 100th season.
10:37AM ( 4 hours ago )
AP Online Football
Democrats decry Pentagon shift of military funds to border
Defense Secretary Mark Esper's decision to shift $3.6 billion from military construction projects to build 175 miles of President Donald Trump's wall along the Mexican border is drawing sharp pushback from some Democrats
2:45PM ( 41 minutes ago )
UK lawmakers locked in Brexit showdown with Boris Johnson
British lawmakers battling Prime Minister Boris Johnson's plan to leave the European Union without a divorce deal have cleared their first big hurdle.
2:38PM ( 48 minutes ago )
Texas governor resists calls for quick votes after shooting
Texas Democrats are urging Republican Gov. Greg Abbott to convene a special session to tackle gun violence days after the state had its second mass shooting in the last month
2:16PM ( 1 hour ago )
AP Online Headlines - Washington
Ginsburg: Work on court 'saved me' during cancer treatment
Supreme Court Justice Ruth Bader Ginsburg says her work on the high court "saved" her during cancer treatments over the years that included radiation she announced undergoing last month
1:55AM ( 13 hours ago )
Justice Ginsburg reports she's on way to 'well' after cancer
Supreme Court Justice Ruth Bader Ginsburg says she's 'alive' and on her way to being 'very well' following radiation treatment for cancer
12:28AM ( 3 days ago )
Justice Ginsburg reports she's on way to 'well' after cancer
Supreme Court Justice Ruth Bader Ginsburg says she's 'alive' and on her way to being 'very well' following radiation treatment for cancer
10:15PM ( 3 days ago )
AP Online Supreme Court News
Huawei accuses US of cyberattacks, coercing employees
Huawei accuses US of launching cyberattacks on Chinese tech giant, trying to coerce employees to gather information on company
2:19PM ( 1 hour ago )
Stocks move higher as investors pivot from broad sell-off
Technology companies are leading a broad rally in U.S. stocks, placing the market on track to recoup some of its losses from a day earlier
2:05PM ( 1 hour ago )
Michigan moves to be 1st state to ban flavored e-cigarettes
Gov. Gretchen Whitmer is moving to make Michigan the first state to ban flavored e-cigarettes
1:49PM ( 1 hour ago )
AP Business
Game week arrives for Cowboys, still without holdout Elliott
The Dallas Cowboys were still without holdout running back Ezekiel Elliott for their first practice in preparation for Sunday's opener at home against the New York Giants
7:03PM ( 1 day ago )
Jaguars cancel practice, meetings as Hurricane Dorian nears
The Jacksonville Jaguars will have one less day to prepare for their season opener because of Hurricane Dorian
12:52PM ( 2 days ago )
Flores says it again: Dolphins aren't tanking in 2019
Miami Dolphins 1st -year coach Brian Flores says his team isn't tanking in 2019
5:11PM ( 2 days ago )
AP Sports - NFL
April trial date set in R. Kelly's federal case in Chicago
A judge has set an April 27 trial date in R. Kelly's federal case in Chicago that accuses the R&B star of child pornography and obstruction of justice
3:14PM ( 12 minutes ago )
Judge orders Anheuser-Busch to halt 'corn syrup' labels
Judge orders Anheuser-Busch to stop trolling MillerCoors with 'corn syrup' packaging
3:09PM ( 17 minutes ago )
Fed survey says growth is steady despite Trump's trade wars
US Fed survey says growth is steady despite Trump's trade wars
3:02PM ( 24 minutes ago )
Brown upset at Raiders for nearly $54,000 in fines
Star receiver Antonio Brown says the Oakland Raiders have fined him close to $54,000 for missing a practice and walkthrough
3:01PM ( 25 minutes ago )
Trump administration announcing nearly $2B in opioid grants
The Trump administration is awarding nearly $2 billion in grants to states and local governments to help fight the opioid crisis
3:00PM ( 25 minutes ago )