Sports Betting Week in Review (12/21-12/25)
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A lot of big stories are happening in the sports betting industry this week. Oh, you thought the sports betting took Christmas off? HA! There are sports to be bet on every day, which means there is news to cover in the sports betting industry every day.
This week, Missouri proposed multiple sports betting bills, and Virginia is close to launching mobile betting. California could vote on sports betting in 2022, and the Philadelphia 76ers announced a sports betting partnership with BetMGM just in time for the NBA season.
Here are this week’s biggest stories in sports betting.
Monday: Missouri Proposes Three Sports Betting Bills
Earlier this week, three Missouri lawmakers filed three sports betting bills in hopes of passing one in 2021. Denny Hoskins, Tony Luetkemeyer, and Caleb Rowden are behind the three bills. Missouri has attempted to pass sports betting in the past, but nothing has been able to go through. The three bills have different variations that lawmakers will discuss what they want and don’t want on the bill. Missouri could see as many as 39 sportsbooks in the state and as little as 13. The Show-Me State will be one of the easiest states to enter for sportsbooks with lenient taxes and affordable fees.
Tuesday: Virginia is Close to Launching Mobile Betting
Virginia is planning on launching mobile sports betting in early January 2021. The state passed mobile betting in 2019 and is soon to go live after the Virginia Lottery granted multiple sports betting operators licenses to enter the state. 25 sports operators applied for licenses in the state, and the Virginia Lottery approved 12 for a January launch. Virginia officials believe the state could see $400 million in revenue in 2021.
Wednesday: California Could See Sports Betting on the 2022 Ballot
The Coalition to Authorize Sports Wagering submitted 1.4 million signatures to get sports betting on the 2022 November ballot. The coalition had to submit the signature by December 20. The California Nations Indian Gaming Association was looking to get enough signatures earlier this to get sports betting on the 2020 ballot, but COVID-19 stalled the process and are now looking to vote on betting in two years. The state needs to review and verify 997,139 of the signatures to go on the ballot. The state is facing a multi-billion budget deficit that needs to be patched in the upcoming years. Legalizing sports betting in California would be huge, and it could help push the sports betting legalization process forward.
Thursday: The Philadelphia 76ers Partner with BetMGM
Just in time for the NBA season, the Philadelphia 76ers announced an official sports betting partnership with BetMGM. The partnership will allow BetMGM to post signage during 76ers’ home games, specifically below each basket. BetMGM will also bet putting 76ers signage on its betting app and will also offer 76ers fans special gameday promotions and bets. Pennsylvania is seeing multiple franchises form sports betting partnerships. With the BetMGM and 76ers partnership, that now makes 12 in the state with 11 in Philadelphia and one in Pittsburgh. More states and franchises are going to see these partnerships formed as sports betting expands across the U.S.
