Sports Betting Week in Review (2/1-2/5)
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Super Bowl week had a lot of action in the sports betting industry, with states beginning to present bills in hopes of legalizing wagering in 2021. What better week to kick off sports betting bills than Super Bowl week. Here are the biggest stories in sports betting this week.
Monday: NFL Blockbuster Trade
A blockbuster NFL trade happened last weekend between the Detroit Lions and Los Angeles Rams. The two swapped quarterbacks Matthew Strafford and Jared Goff, with the Lions getting an additional first and second-round pick. The trade shifted NFL odds for next year, with the Rams having the third-best odds to win the Super Bowl and the Rams going down to last. The trade will be interesting to watch play out as it could greatly affect both quarterbacks involved.
Tuesday: Missouri Sports Betting Bill Heard
Missouri began discussing the three sports betting bills that were filed into the state this week. The Show-Me State is looking to legalize sports betting this year and become a thriving industry based on each sports betting bill’s details. However, all three bills have casinos partnering with sportsbooks in Missouri. Backers of video lottery terminals are now trying to push to have partnerships with sportsbooks as well. VLT’s are working to pass in the state and have not yet launched in Missouri. This is a big move for video lottery terminals before even becoming legal.
Wednesday: Sports Betting Bill Moves Forward in South Dakota
In the 2020 November election, South Dakota voters approved of sports betting in the state. It was a big step forward for the state’s gaming industry, and lawmakers began discussing what sports betting would look like. Right now, the state will only have in-person betting only in Deadwood and tribal casinos. Deadwood is on the western side of the state and is the gaming hub in South Dakota. However, some lawmakers are attempting to get a mobile betting bill through, but it won’t be easy to achieve with conservative lawmakers. Overall, a sports betting bill in South Dakota looks promising.
Thursday: Washington Sports Betting Bill to Expand Jobs
Washington State is working on finding ways to expand sports betting beyond tribal groups and cardrooms. Lawmakers are trying to get a bill through the state to expand sports betting to commercial casinos and cardrooms to create jobs in Washington. However, there has been a lot of pushback from tribal groups as they state that it will take away from revenue going to them. This will be an interesting battle to watch in 2021 as Washington tries to join the sports betting party with the 20 other states that went live.
Friday: Maryland Sports Betting Bill Introduced
Maryland was another state that presented its first sports betting bill to the state. It is expected more bills will be submitted and discussed in 2021, but the first one looked promising for Maryland sports betting. It states that there could be upwards of 18 betting operators in Maryland, with 10 being online only. Also, taxes will be 15% for both in-person and only betting, and 17.5% after the first $5 million in revenue online operators collect.
