Sports betting

The big picture

The states that have legalized sports betting
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

Jan 10, 2022 - Sports

Sports betting headed for record month

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Note: Handle = total money wagered. Data: Legal Sports Report; Chart: Sara Wise/Axios

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).

Kendall Baker, author of Sports
Dec 1, 2021 - Sports

Charted: The state(s) of sports betting

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Data: American Gaming Association; Cartogram: Axios Visuals

Sports betting is now legal and operational in 30 states, plus the District of Columbia, with Wisconsin accepting its first legal bets on Tuesday at Oneida Casino, near Green Bay.

Dec 1, 2021 - Sports

November was brutal for NFL bettors

15.5-point underdog Jacksonville Jaguars beat the Buffalo Bills in Week 10. Photo: Sam Greenwood/Getty Images

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.

Kendall Baker, author of Sports
Oct 20, 2021 - Sports

New Jersey becomes first state to hit $1 billion in monthly sports bets

Data: Legal Sports Report; Chart: Axios Visuals

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 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

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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.

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