Sports Handle

In a newly released analysis of four leading U.S. sportsbooks, the sports odds intelligence firm Bettormetrics found that DraftKings Inc.'s mobile sports betting markets were suspended for the least amount of time during the 2023-2024 NFL season, while bet365's were suspended for the longest duration, reports Mike Seely for Action Network - A part of Better Collective. https://lnkd.in/g2hi3QYd

On Wed, Sporttrade announced that it has received market access in Virginia, where it plans to go live next month. When Sporttrade evaluates whether to enter a certain market, the company will weigh a litany of factors, ranging from the size of the market to the cost of a license, along with revenue sharing expenses, loss carryforward provisions and deductions on promotional expenses. In many respects, Sporttrade will benefit from second-mover advantage in Virginia. When all of the outputs are factored, Sporttrade compiles an index of the most beneficial states in which to gain market access. Virginia places highly on the so-called "Sporttrade Economic Rating," ranking ahead of states such as Massachusetts, North Carolina and Ohio, ones that generally produce a larger monthly handle. The index also ranks Virginia higher than other prominent states, including Indiana, Kentucky, Louisiana and Illinois, a high-tax jurisdiction. "Our analysis normalizes for all of the outputs, Virginia is just a no-brainer state for us," CEO Alexander Kane told Action Network. Before Thursday's Chiefs-Ravens NFL opener, Sporttrade has ramped up its marketing efforts. In New Jersey, Sporttrade has begun to promote a roadside billboard with the tagline: "The expressway to -104 lines." "We are truly marketing this product because we feel like it's finally reached the maturity level to be successful and to be a captivating option for the premium player," Kane said.

From yesterday... Bally's summer of forward momentum for its downtown #Chicago casino continued with the ceremonial first demolition of the Tribune Publishing Plant. It will make way for the $1.7 billion #casino to be built in the River West neighborhood of the city, targeted to open in September 2026. https://lnkd.in/gtkK9YrH

Just in time for football season, BetMGM has released a series of upgrades and enhancements to its mobile #SportsBetting app. Chief among them, the ability to build parlays from anywhere in the app as well as a live bet tracking feature. https://lnkd.in/e539mcfg

A ninth mobile sportsbook in #Illinois. And on Thursday, a 13th permanent casino will open. #HardRock set the stage for a big week in the Land of Lincoln, rolling out its mobile #SportsBetting app (Hard Rock Bet) Monday ahead of the opening of Hard Rock Casino Rockford on Thursday. https://lnkd.in/exuSYV7h

It looks like New York's eight mobile sportsbooks are ready for football season. After two middling weeks, they bounced back to post a 12% hold and claimed $36 million in revenue for the week ending Aug. 18. #NewYork #SportsBetting https://lnkd.in/eZr_pTse

#NewJersey sportsbooks reaped $80 million for July revenue and made it 18 for 18 among states and jurisdictions reporting for the month with holds of 10% or higher. Right now, the hold on gross revenue nationwide is 11.7032%. That puts it third all-time in 74 months of #SportsBetting in the post-PASPA era. https://lnkd.in/e8nen4Bx