All Sports betting stories

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%.

May 14, 2020 - Sports

Sports betting, two years later

Data: Legal Sports Report; Chart: Naema Ahmed/Axios

Two years ago today, the Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA), which had prevented states from creating their own sports betting regulations.

Where things stand: 24 months later, 18 states and counting have legalized it, launching an explosive new industry that touches sports, media, technology and more (though the pandemic has slowed growth in what was set to be a big year).

May 8, 2020 - Sports

The growth of mobile sports betting

Illustration: Aïda Amer/Axios

Colorado became the 18th state to officially begin accepting legal sports wagers, including via online sportsbooks, at the start of May.

Why it matters: The convenience of mobile betting is the future, and with sports creeping back, Colorado can treat the next few months more or less like a beta test as it prepares for the wave of that will come when sports return in full.

Apr 17, 2020 - Sports

DraftKings inches closer to going public

Illustration: Rebecca Zisser/Axios

DraftKings is one step closer to going public, after the SEC approved its reverse merger with blank-check acquisition company Diamond Eagle and sports betting enterprise solution SBTech.

What's next: Diamond Eagle's shareholders will vote April 23 on the merger, which is expected to go through.

Mar 17, 2020 - Sports

Coronavirus sends sports betting scrambling

Illustration: 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.

Kendall Baker, author of Sports
Mar 10, 2020 - Sports

Horse racing rocked by charges against 27 people in doping scandal

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.

Kendall Baker, author of Sports
Feb 21, 2020 - Sports

The Deontay Wilder-Tyson Fury fight is the rematch of the century

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.

Feb 11, 2020 - Economy & Business

Media companies eye sportsbook partnerships to juice engagement

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.

Feb 10, 2020 - Sports

CBS Sports names William Hill as sports book, data partner

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.

Jan 31, 2020 - Sports

26 million Americans will bet on Super Bowl LIV

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.