It’s information overload everywhere, and there’s not time enough to sleep and eat and stay fully apprised of what’s happening on this crazy blue dot of ours (two out of three ain’t bad). Here’s the weekend (or fashionably late) Sports Handle item, “Get a Grip,” recapping the week’s top U.S. sports betting stories, highlighting some fresh news, and rounding up key stories. Also check out this week’s Wild World of Gambling at US Bets.
Three divergent Missouri sports betting bills pre-filed
Three Missouri lawmakers have pre-filed sports wagering bills ahead of the 2021 session, including Senators Denny Hoskins and Tony Luetkemeyer, both of whom have championed sports betting in previous sessions. At first glance, Missouri lawmakers are going to run into the same problem they have in the past — lack of consensus. Last year, lawmakers filed six bills and none got to a vote on either chamber floor.
All three proposals would legalize sports betting at retail locations and statewide mobile/internet sports betting, though platforms would have to be tethered to retail locations. In each case, the Missouri Gaming Commission would be the regulator. The bills differ in terms of application fees, tax rate, the use (or not) or official league data, royalties and other key issues.
Here’s a brief overview of each bill:
SB 18 (Sen. Hoskins)
- Digital operators would be subject to a $25,000 application fee and a $50,000 annual renewal fee. Casinos would pay a $25,000 application fee.
- Sports leagues can request that operators be required to use “official league data” for certain wagers.
- Imposes a ‘royalty’ of 0.25% of handle to be paid to the pro leagues or NCAA for in-play wagers.
- The tax rate would be set at 9% ggr
- Operators would pay an annual $50,000 administrative fee to the MGC.
SB 217 (Sen. Luetkemeyer)
- Digital operators and casinos would be subject to a $10,000 application fee, and operators would pay a $5,000 annual renewal fee.
- Prop bets on college sports would be prohibited.
- Sports leagues can request that operators be required to use “official league data” to settle certain bets.
- The tax rate would be set at 6.25%.
- Operators would pay an annual $5,000 administrative fee to the MGC.
SB 256 (Sen. Caleb Rowden)
- Digital operators and casinos would be subject to a $50,000 application fee, and operators would pay an annual $20,000 renewal fee.
- This bill also allows the MGC to “enter into agreements with other juridictions to facilitate, administer, and regulate multi-jurisdictional sports betting.”
- Sports leagues can request that certain wagers be excluded, but the bill does not explicitly call for the use of official league data or ban any type of betting.
- The tax rate would be set at 6.75%.
- Operators would pay an annual $20,000 administrative fee to the MGC.
— by Jill R. Dorson
Betting on Sports America Digital Summit
Ideally it would have taken place at the Meadowlands Expo Center in New Jersey, but nothing about this year is ideal. Sports Betting Community Events (SBC) hosted its BOSA summit this past week, an opportunity for many industry people to remember what it’s like to periodically interact with other humans.
Here’s some stories our team of reporters took from the panels and presentations:
More important sports betting, sports stories and some other things of interest
Adjunct Professor @MarcEdelman shared his expert opinion on the strict legal standards for sports betting and games of chance in an article for @sports_handle.https://t.co/aXW0ExEIFH
— Fordham Law (@FordhamLawNYC) December 1, 2020
MORE ROAR: BetMGM, Yahoo continue to expand betting partnership [CDC Gaming]
ISOLATION: Villanova’s Jay Wright discusses impact of “Bubbleville” for collegiate athletes [AP]
THE FIELD: A look at 15 upcoming Michigan online gambling apps to be unwrapped in coming weeks [MI Bets]
QUEBETS: Federal, provincial governments moving on sports betting, iGaming [Sports Handle]
TRANSPARENCY: Sportsbooks may limit their growth by not being up front about betting limits [US Bets]
ICE TIME: NHL now focusing on mid-January season start, per reports [TB Times]
TRADEMARK ARC: BetMGM fires shot at Action 24/7 over wrestler Jerry Lawler’s ‘King’ Promos [TN Bets]
LINE ‘EM UP: Bud Light & Broncos & FanDuel engaged in new three-way partnership [CO Bets]
EL-PASSO?: Adelson throws weight behind casinos in Texas [US Bets]
FLAPPING: Flutter poised to o 95% stake in FanDuel following accelerated acquisition [Sports Handle]
OUT OF THE GATES: Data shows young TN sports betting market high active, off to hot start [TN Bets]
This tweet has since been deleted. Not sure why though, $1mil wagers on the first half total of a mid-major CBB game on a Friday afternoon in November are TOTALLY normal. ?
h/t: @JasonSylva_ pic.twitter.com/RXFotqSno5
— Captain Jack Andrews (@capjack2000) December 4, 2020