Sports betting

The big picture

The states that have legalized sports betting

Sports betting is now legal and fully operational in 18 states, plus Washington, D.C.

Updated Aug 7, 2020 - Sports
Sports betting, two years later

18 states and counting have legalized it, launching an explosive new industry.

May 14, 2020 - Sports
The growth of mobile sports betting

The best way to reach the vast majority of average sports fans is through their phones.

May 8, 2020 - Sports
How on-site sportsbooks could transform stadiums

Sports venues are among the most underutilized pieces of real estate on Earth.

Jun 19, 2019 - Sports

All Sports betting stories

Gambling on U.S. sports betting growth

Illustration: Aïda Amer/Axios

Gambling has always been about the flypaper. Use glitz to get customers in the door, free drinks to get them in the seats and then loyalty perks to get them to tables with higher minimums.

Why it matters: A version of the flypaper effect is now happening with the gambling industry itself, which is experiencing a major consolidation wave.

Kendall Baker, author of Sports
Aug 16, 2021 - Sports

The sports betting tsunami

Shoshana Gordon/Axios

As sports betting emerges from the shadows and steps into the light, it's seeping into every aspect of fandom.

The state of play: How fans watch games, where fans watch games, how media covers those games — it's all being transformed quite rapidly.

Jun 8, 2021 - Sports

Scoop: MLB partnering with sports betting analysis site Action Network

Illustration: Sarah Grillo/Axios

MLB and the Action Network, a sports betting data and analysis site, have entered into a multi-platform content partnership, Axios has learned.

Why it matters: As sports betting continues to expand and evolve, leagues are looking for ways to provide unique content for their fans, and no sport has as many betting opportunities as baseball, with its 162-game slate.

May 25, 2021 - Economy & Business

Exclusive: AP and FanDuel team up on sports betting odds

Photo Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images

FanDuel and The Associated Press have reached an agreement to make FanDuel the exclusive provider of sports odds across AP’s global sports report, executives tell Axios.

Why it matters: While traditional advertising is an effective customer acquisition tool, FanDuel Chief Marketing Officer Mike Raffensperger says "I think the thing where we move the needle is partnerships with media companies."

May 11, 2021 - Sports

Baffert: Ointment could have caused Medina Spirit's positive drug test

Kentucky Derby winner Medina Spirit. Photo: Rob Carr/Getty Images

Medina Spirit, the horse whose Kentucky Derby win is in jeopardy after he failed a drug test, was being treated with an anti-fungal ointment for dermatitis that contained the steroid found in the test, trainer Bob Baffert acknowledged Tuesday.

The big picture: Baffert noted that it's not yet definitively known whether the ointment is behind the positive drug test but said that it "could explain the results" and that the investigation is ongoing.

Kendall Baker, author of Sports
Apr 14, 2021 - Sports

Sports betting media frenzy drives up stocks

Expand chart
Data: Investing.com, Yahoo Finance; Chart: Axios Visuals

The 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.

Kendall Baker, author of Sports
Mar 12, 2021 - Sports

The rise of sports fandom investing

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.

Casinos throw cash at sports betting media

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.

Jan 30, 2021 - Sports

Casinos add fantasy sports in high-stakes partnerships

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.

Kendall Baker, author of Sports
Jan 7, 2021 - Sports

Cuomo embraces mobile sports betting to boost revenue crushed by pandemic

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.

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