Sports betting is now legal and fully operational in 18 states, plus Washington, D.C.
Updated Aug 7, 2020 - Sports18 states and counting have legalized it, launching an explosive new industry.
May 14, 2020 - SportsThe best way to reach the vast majority of average sports fans is through their phones.
May 8, 2020 - SportsSports venues are among the most underutilized pieces of real estate on Earth.
Jun 19, 2019 - SportsThe sports betting content frenzy is heating up, as operators continue looking for ways to own content — a far more efficient long-term vehicle for acquiring customers than traditional paid marketing.
Driving the news: Two weeks after acquiring sports betting network VSiN (Vegas Stats & Information Network) for ~$100 million, DraftKings has hired its first-ever chief media officer, Axios' Sara Fischer reports.
Illustration: Aïda Amer/Axios
For nearly a century, investing was driven exclusively by ticker symbols. Now, there's more room for passion-aligned investing — and sports is at the forefront of that movement.
The state of play: Sports fans have always followed the players and teams they love. Now, there are more ways than ever to actually invest in them.
Illustration: Sarah Grillo/Axios
Casinos are investing millions on sports betting content to lure bettors to their online and in-person sportsbooks.
Why it matters: It’s a mini gold rush for some sports media companies that were struggling in the pandemic.
Betting lines at Race & Sports SuperBook at Westgate Las Vegas. Photo: Ethan Miller/Getty Images
Casinos, internet gambling, sports betting and fantasy sports are all colliding with new, high-stakes partnerships, AP reports.
Why it matters: This expansion is leading Wall Street analysts to predict fast-growing revenue in the U.S. over the next five to 10 years. Morgan Stanley sees a $15 billion sports betting and internet gambling market by 2025.
Illustration: Aïda Amer/Axios
After watching New Jersey turn into America's new sports betting capital this fall, New York Gov. Andrew Cuomo is ready to embrace mobile betting as a way to generate much-needed revenue for the state amid the pandemic.
Driving the news: In a statement to the New York Daily News, Cuomo said he will make mobile sports betting a central part of his policy proposals to be laid out in next week's State of the State address.
Al Bernstein (left) and Brent Musburger unveil VSiN's first studio in 2017. Photo: Ethan Miller/Getty Images
As the U.S. sports betting market matures, a robust media landscape is forming alongside it, with companies aiming to educate and entertain bettors.
The state of play: One of the early entrants is Vegas Stats & Information Network (VSiN), which launched in January 2017. VSiN has three studios in Las Vegas (South Point, Mandalay Bay, Circa), one in Atlantic City (Borgata) and one outside Chicago (Rivers).
Illustration: Eniola Odetunde/Axios
All North American sports leagues face enormous uncertainty heading into 2021, but the NHL's reliance on ticket sales and cross-border travel puts it in a particularly tough spot.
The state of play: While leagues like the NBA and NFL make most of their revenue from media rights, the NHL is a much more gate-driven league.
Photos: Brian Blanco/Jim Watson/AFP via Getty Images
While legal wagers on the election aren't offered through U.S. sportsbooks, betting operators have launched free contests to drive sign ups and engagement.
Driving the news: DraftKings' $100,000 pool has attracted nearly 400,000 entries, and those who pick the winner overall and in 11 states have a chance to win.
Courtesy: Circa Las Vegas
Circa, the first ground-up resort built in downtown Las Vegas since 1980, opens today with what's being billed as the "world's largest sportsbook."
New Jersey's sports betting market shattered its own national record in September, taking in nearly $749 million in bets.
By the numbers: Online bets accounted for 90.7% of September's handle ($678.7 million). FanDuel Sportsbook/PointsBet topped the market with $25.1 million in gross revenue.