Sports Betting Recap for the Week of November 16
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The sports betting industry is seeing multiple midwest states release revenue reports this week. Nebraska is looking to expand gaming, and Massachusetts is about to be a battleground for sports betting legislation. The biggest story this week could be the NFLPA partnering with Monkey Knife Fight. Here are this week’s biggest stories.
Monday: Nebraska Expands Gaming Industry
Last week, Nebraska approved to expand the state’s gaming industry. This would help keep revenue in the Cornhusker State instead of leaving for Iowa. The state will expand gaming at racetracks to give it more of a “Vegas-like” atmosphere. This will help racetracks in return, and it could also open up the idea of sports betting in Nebraska. Although that is still far off, the gaming expansion does allow it to be discussed.
Tuesday: Iowa Has a Great Sports Betting Month
The Hawkeye State saw over $80 million in bets in October, setting another state record. Thanks to the NFL and the Big Ten, Iowa was able to bring in $81.9 million and $9.1 million in revenue. The previous record handle was $72.4 million in September. This shows that football is still king in the U.S., and Iowa loves their football. William Hill also launched its sportsbook in the Hawkeye State, which helped the increase last month. Iowa should see the November betting handle over $80 million again thanks to a full month of NFL and Big Ten football.
Wednesday: The NFLPA Partners with Monkey Knife Fight
The NFL and NFLPA partnered with Monkey Knife Fight this week, making it a monumental partnership for both entities. Gaming companies are looking to partner with professional teams and leagues, but MKF was the first to partner with the NFLPA. This will help NFL players with partnerships, and MKF plans to help the NFLPA make sure the players are taken care of. Monkey Knife Fight is out here playing chess while others are playing checkers.
Thursday: Massachusetts is About to Become a Betting Battle Ground
Sports betting has not even been legalized in Massachusetts, and it is about to be a battleground with casinos and online betting operators. Casinos are arguing to lawmakers that mobile sportsbooks will undermine Massachusetts’ gambling industry since they will flood the market. However, there is a chance where both retail and online betting can work in the state. Both parties will try to do their best to get laws approved in their favor.
Friday: Indiana Sees Another Record Month
Indiana was another midwest state that released its October betting numbers, and they too hit a record high. The Hoosier State hit $230.9 million for October, passing the record month Indiana had in September. Indiana also benefitted from a nice chunk of revenue at $21.1 million and collected over $2 million in taxes. Football was the sport to bet last month with over $84 million in bets, passing basketball and baseball for the month. The Illinois betting market is starting to expand, and it did not even make a dent in the Indiana numbers. Some believed that Indiana would take a hit from Illinois legalizing sports betting, but that did not happen.
