Sports betting is now legal and fully operational in 18 states, plus Washington, D.C.Updated Aug 7, 2020 - Sports
18 states and counting have legalized it, launching an explosive new industry.May 14, 2020 - Sports
The best way to reach the vast majority of average sports fans is through their phones.May 8, 2020 - Sports
New York launched mobile sports betting on Saturday, with four online sportsbooks beginning operations and another five awaiting final approval.
The big picture: Now that New Yorkers can bet from their couch — rather than travel to New Jersey — many believe the Empire State will eventually contend with New Jersey and Nevada for most money wagered by state (currently 17th).
The most unpredictable NFL season in recent memory is costing bettors at a historic clip.
Driving the news: November was among the worst months ever for the betting public thanks to underdogs covering the spread nearly 60% of the time and winning 23 games outright.
New Jersey sportsbooks took $1.01 billion in bets in September, the first time any state has eclipsed the billion-dollar mark.
The big picture: New Jersey has overtaken Nevada as the sports betting capital of America in the three years since the U.S. Supreme Court overturned PASPA, giving states the power to legalize sports betting.
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.
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.
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."
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.
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.