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 bettors may be a driving force behind the stock market surge

With no live sports, they're looking for another thrill.

Jun 9, 2020 - Economy & Business
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
The NFL's slow embrace of sports betting

Last September the league asked for congress to step in.

Sep 4, 2019 - 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

Kendall Baker, author of Sports
Sep 24, 2020 - Sports

Targeting a new generation of bettors

Illustration: Aïda Amer/Axios

As sports betting comes out of the shadows and the pool of potential bettors increases, companies are experimenting with ways to target general sports fans.

Why it matters: While some aspects of betting remain complex and require time and research, the basic concept of making predictions is understood by everybody.

Kendall Baker, author of Sports
Sep 23, 2020 - Sports

Inside the offshore betting market

For decades, the black market — which consists of offshore sports books and local "bookies" — has been the only option for U.S. sports bettors looking to place wagers.

  • Now that states can legalize and regulate sports betting, those offshore books — most of which are located in the Caribbean — are facing competition from well-financed companies running legal operations in the U.S.
  • As legal sports betting advances, some believe the offshore market will shrink and become a shell of itself, while others believe the two will live side by side with legal books unable to match what offshore books can offer.

The state of play: Sports betting is currently legal and operational in 18 states plus Washington, D.C. It's legal but not yet operational in four more states, and another seven have active legislation.

Media doubles down on sports betting

Illustration: Rebecca Zisser/Axios

Sports media companies are leaning further into sports betting as more states legalize the practice and the NFL and college football seasons kick into gear.

Driving the news: ESPN has entered into separate agreements with Caesars Entertainment and DraftKings, both of which include exclusive link integrations (i.e. affiliate partnerships) across ESPN's digital platforms.

Kendall Baker, author of Sports
Sep 3, 2020 - Economy & Business

Mike Greenberg explores sports' "craziest gambling stories" in new ESPN+ series

Mike Greenberg at a taping for "Bettor Days." Photo: Joe Faraoni/ESPN Images

Mike Greenberg's new show, "Bettor Days," debuts on ESPN+ Thursday.

The big picture: The 15-minute show, which tells the stories behind sports betting's craziest wins and losses, is part of a larger sports betting push by ESPN. The company just debuted its new Las Vegas studio, which will host the network's one-hour weekday sports betting show, "Daily Wager," and other related programming.

Kendall Baker, author of Sports
Aug 12, 2020 - Sports

Sports betting in the age of coronavirus

Reproduced from American Gaming Association; Cartogram: Axios Visuals

When the pandemic arrived, the sports betting industry funneled bettors toward the few sports that were actually happening.

What's happening: Now that sports have returned, the industry has benefited from pent-up demand, while also capitalizing on a busier-than-usual summer, with baseball, soccer, hockey, golf and basketball all in full swing.

May 28, 2020 - Sports

Sports betting stocks are surging despite the lack of live games

Data: FactSet; Chart: Axios Visuals

Despite the lack of live games, sports betting stocks have performed particularly well over the past month, highlighted by fantasy sports/betting platform, DraftKings, and gaming operator, Penn National.

By the numbers: Since going public on April 24, DraftKings' stock is up 82%, while Penn National Gaming — which acquired Barstool Sports in January — is up 130%.

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