The industry generated over $4 billion in wagers in New Jersey alone this year.
Dec 13, 2019Last September the league asked for congress to step in.
Sep 4, 2019Sports venues are among the most underutilized pieces of real estate on Earth.
Jun 19, 2019The opportunity for everyone involved to make money is huge.
Feb 2, 2019Illustration: Aïda Amer/Axios
Sportsbooks are flummoxed over what to do about the lack of sports events.
Why it matters: 2020 was supposed to be the year that sports betting really took off, with many more states expected to legalize betting in coming months.
Illustration: Eniola Odetunde/Axios
27 horse racing employees (trainers, veterinarians and others) were charged Monday in a "widespread, corrupt" doping scheme that cheated the betting public and likely contributed to the rise in racetrack fatalities.
The state of play: Among those charged was Jason Servis, the trainer of Maximum Security, the horse that won last year's Kentucky Derby but was disqualified for impeding the path of two other horses.
Illustration: Eniola Odetunde/Axios
The weekend's biggest sporting event is Wilder-Fury II, which despite its name is not an action movie sequel starring Jean-Claude Van Damme but, rather, a boxing match starring arguably the two best heavyweights in the world.
The backdrop: In their first meeting in December 2018, Deontay Wilder and Tyson Fury put on a memorable show at Staples Center, with Fury surviving a brutal right hand in the 12th round to earn a split-decision draw.
Illustration: Aïda Amer/Axios
Almost all major media companies are teaming up with sportsbooks to juice their content offerings.
Why it matters: The partnerships allow media organizations to increase engagement while sportsbooks can acquire more customers.
Photo: Michael Allio/Icon Sportswire via Getty Images
CBS Sports said Monday that William Hill, a sportsbook operator, will be the official sportsbook and provider of wager information for the network. Financial terms were not disclosed.
Why it matters: It's the latest media company to partner with a sportsbook to increase engagement with its content. Content partnerships for sportsbooks, on the other hand, help them acquire more customers.
Prop bets at Bally's Atlantic City Hotel and Casino. Photo: Wayne Parry/AP
With sports betting now legal in 14 states, the American Gaming Association estimates $6.8 billion will be bet legally and illegally on Sunday's Super Bowl between the S.F. 49ers and Kansas City Chiefs, AP's Wayne Parry reports.
The state of play: 26 million Americans plan to make a bet, up 15% from last year, per the AGA.
Illustration: Lazaro Gamio/Axios
DraftKings on Monday announced that it will go public via a reverse merger with a blank-check acquisition company called Diamond Eagle, with a sports betting tech platform called SBTech also being rolled in.
Why it matters: Sports betting is now legal in 11 states, with dozens of others considering legislation.
Retired Phillies pitcher Michael Schwimer. Photo: Sarah Glenn/Getty Images
Retired MLB pitcher Michael Schwimer has put together a team of data analysts and machine learning experts to take on the corrupt tout industry (sellers of sports betting picks).
Driving the news: Schwimer's company, Jambos Picks, has raised $23 million and recently launched its paid subscription service that will provide customers with pick recommendations.
It's been 15 months since the Supreme Court struck down the Professional and Amateur Sports Protection Act, which cleared the way for states to legalize sports betting.
Driving the news: In that time, the number of states with some form of legal sports betting has grown to 13 — and the NFL is slowly warming up to it. This season, the league has a full-fledged casino partner (Caesars) and an official data distributor (Sportradar) for the first time.