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.
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.
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.
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.
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.
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.
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.
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.
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.