All Sports betting stories

The NFL's slow embrace of sports betting

Photo: Ethan Miller/Getty Images

The NFL is embracing sports betting this season in ways that it never would before the Supreme Court legalized the activity across the nation in 2018.

Why it matters: Last September, the NFL called for Congress to step in and regulate legalized sports betting. This September, the NFL is opening its season with a full-fledged casino partner (Caesars) and an official data distributor (Sportradar) for the first time ever.

Go deeperArrowSep 4, 2019 - Sports

New Jersey dethrones Nevada as new sportsbook champ

Casinos overlooking the Atlantic Ocean in Jersey City. Photo: John Greim/LightRocket via Getty Images

New Jersey took in more sports bets than Nevada last month, per AP.

By the numbers: New Jersey saw $318.9 million worth of bets; Nevada took in $317.4 million. "From those bets, New Jersey casinos and racetracks made $15.5 million in revenue, compared to $11.6 million in Nevada," per AP.

Go deeperArrowJun 30, 2019

How on-site sportsbooks could transform stadiums

Illustration: Aïda Amer/Axios

In recent weeks, Illinois and New York have introduced bills that would allow in-person sports betting at sports stadiums and arenas — and the Chicago Cubs are considering opening a sportsbook inside and outside of Wrigley Field.

Why it matters: Sports venues are among the most underutilized pieces of real estate on Earth. NBA teams play 41 home games per year, NFL teams play just eight, and when you go to those games, it's not like they let you hang out. Here you have this immaculate structure and they're ushering you out the door.

Go deeperArrowJun 19, 2019 - Sports

Illinois sports betting bill paves way for leagues to cash in

Illustration: Aïda Amer/Axios

Illinois passed a sports betting bill over the weekend that includes mobile betting, in-venue kiosks and, most notably, a mandate that operators use official league data for in-play and prop bets.

Details: Casinos, racetracks and other brick-and-mortar venues can offer mobile betting right away, while online-only operators like DraftKings and FanDuel must wait 18 months before entering the market. Large venues like Soldier Field and Wrigley Field would be able to apply for licenses to add on-site betting kiosks.

Go deeperArrowJun 6, 2019

Media companies' newest wager: Their commitment to sports betting

Illustration: Aïda Amer/Axios

The legalization of sports betting has opened up new business opportunities for some of America's biggest media companies, forcing them to decide just how far they want to wade into the world of sports books.

Why it matters: Striking the right balance between leaning into betting — and not alienating casual fans or compromising journalistic principles — will force the establishment of new media boundaries.

Go deeperArrowMay 21, 2019

James Holzhauer won't stop dominating "Jeopardy!"

James Holzhauerat Game Six of the 2019 NHL Stanley Cup Playoffs. Photo: Ethan Miller/Getty Images

Las Vegas sports bettor James Holzhauer continued his miraculous "Jeopardy!" run last night, becoming just the second contestant to ever win more than $1 million during a daily run.

By the numbers: Holzhauer won $118,816 last night to bring his 14-day total to $1,061,554, second only to Ken Jennings' $2.5 million.

Go deeperArrowApr 24, 2019

States see disappointing tax revenue from legal sports betting

Illustration: Rebecca Zisser/Axios

Six states have legalized sports betting since the Supreme Court's monumental decision last May, but New Jersey is the only one exceeding revenue expectations.

Why it matters: These disappointing results are part of a "growing consensus that legal sports betting may not bring the windfall that economic forecasters predicted only a few months ago," the New York Times' Timothy Williams reports.

Go deeperArrowApr 22, 2019

Why sportsbooks are refunding bettors who lose

Illustration: Sarah Grillo/Axios

Some New Jersey sportsbooks have begun issuing refunds (in the form of a credit) to losing bettors following bad beats in high-profile games.

Driving the news: When Zion Williamson's shoe exploded against UNC in February, PointsBet, an Australian-based operator with a mobile app in New Jersey, issued $100,000 in refunds to those who bet on losing Duke.

Go deeperArrowApr 2, 2019

3 takeaways from D.C.'s sports betting summit

NHL commissioner Gary Bettman. Photo: Christian Petersen/Getty Images

The American Gaming Association's inaugural sports betting summit took place just outside of Washington, D.C. on Wednesday.

The bottom line: There are 3 major takeaways from the summit: data is driving two of the industry's biggest conversations, mobile gaming is a point of contention in the industry, and integrity fees are dead.

Go deeperArrowMar 29, 2019