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Batter Up! How media, sports teams, venues and leagues intersect with legal sports betting

Posted on January 4, 2022

It has been a little over four years since the United States Supreme Court heard Christie v. NCAA (now known as Murphy v. NCAA). Over that time, sports betting has made evolutionary strides in how states look to legalize and regulate the market, as well as how stakeholders continue to evaluate their options and assert themselves into the market. It continues to be a fast and furious ride as over 30 jurisdictions now have legal sports betting operations.

Looking toward the future, it is important to understand the evolution over the past three years in terms of additional stakeholders, various models for regulatory structures, and market access.  All of these have evolved significantly over the course of the last three years that have brought an end to Nevada’s exclusivity in the sports betting market, bringing a series of “record-breaking” months as jurisdictions continue to advance the legal marketplace and transition those gamers who have been participating in illegal books or are new to the market.

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Asian Recovery or More of the Same?

Posted on November 30, 2021

Heading into 2020, it looked as though the gaming world would continue on its track of expansion in Asia.  Macau was two years out from concession renewal. The Philippines was seeing strong growth in gaming and tourism.  Jurisdictions such as Cambodia, Vietnam and others were seeing strong growth in their existing facilities with new projects being announced along the way.

Yet, it was shortly after the start of that year that the world began to change, and change rapidly.  Macau initially shut down for two weeks, and the rest of the world soon followed with what still remains for many jurisdictions that are in Great Shutdown mode. Gaming revenue evaporated quickly. Timelines for expansion disintegrated. Concession renewals in Macau were put in limbo other than a two-year extension to put all of the concessionaires on the same timeline for renewals.  Heading into 2022, there are just as many uncertainties as portions of Asia finally began to reemerge rom nearly two years of lockdown.

 

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Research Brief: State Legislative Update on U.S. Sports Betting & Online Gaming – May 2021

Posted on May 17, 2021

Three years into the repeal of PASPA, the sports betting world continues to move forward at a quick pace. The challenges of the last year continue in various facets of the sports calendar that has not quite returned to normal, as well as occasional challenges still with athletes having to go through COVID-19 protocols. As fans will likely return to the stands with the goal of having 100 percent capacity in many cases by the fall, it will bring some normalcy back to the game and eventually, the schedule.

Some 30 states and jurisdictions have now legalized sports betting in some form, with others still having discussions on how to craft an ideal market that suits their needs. What continues not to be normal over some of the recent states is how they are crafting their own markets that are either reinventing the wheel or now reviewing best practices to create the ideal market in terms of competition and revenue potential to the state. At this point, most legislative sessions are closing out their 2021 session heading into June. However, more than a handful of states operate a year-round legislative session. The year 2021 will likely be known as the year that had some more interesting markets crafted which may cause challenges down the way for other states that have yet to legalize.

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Research Brief: PASPA U.S. Sports Betting Three Years Later – May 2021

Posted on May 14, 2021

Three years ago, the Supreme Court of the United States (“SCOTUS”) made a historic decision in Murphy v. NCAA, in favor of states’ rights and overturning the Professional and Amateur Sports Protection Act (“PASPA”). In this decision on PASPA, the Supreme Court has allowed sports betting to now spread across the country with operational sports books in 22 jurisdictions (21 states and the District of Columbia)/ There are eight other jurisdictions (seven states and Puerto Rico) where sports betting is legal, but legislators and regulators are working through the next steps to bring the total number to 30 jurisdictions that have pushed forward since the repeal of PASPA three years ago today.  while some did not expect such a rapid expansion in such a short time, credit is due to Governor Chris Christie for initially pushing this effort on behalf of New Jersey.  It was this initial legal effort that was the catalyst for public opinion to grow in favor of sports betting.  Any assumptions that the overturning of PASPA was done by a public affairs effort, and not by the legal foundations or arguments, discredits the judicial process and the legal framework associated with separation of powers in the United States.

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Research Brief: State Legislative Update on U.S. Sports Betting & Online Gaming – April 2021

Posted on April 13, 2021

The more things change, the more they stay the same

A year after the start of the Great Shutdown, the gaming and sports worlds are returning. The NCAA Division I Men’s basketball tournament ran its course with no major problems. The Masters is in full bloom in Augusta, and MLB threw its first pitch at the start of this month. This is all occurring while fans are returning to games and events as stadium capacity increases.

Legislative sessions are also in full bloom, with most of these sessions hitting their stride as some deadlines have passed while others are fast approaching. Several states are trying to get sports betting across the finish line before their session expires. Many of these are running into challenges, not just from a timing standpoint but also due to the legislative process. As seen in Georgia, sports betting died because of the voter law and the difference between parties. This is just one example of how legislation can either be changed dramatically, get killed, or die under its own death through the sheer weight of the process of legislation. While the issues may change over time, the same factors can make or break the process and cause well-intentioned groups and caucuses come apart because of other issues.

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Research Brief: State Legislative Update on U.S. Sports Betting & Online Gaming – March 2021

Posted on March 16, 2021

March Madness is Upon Us

For the first time in two years, sports fans will be able to wager on the NCAA Division I Men’s basketball tournament.  While the tournament went dark last year because of the Great Shutdown, legal sports betting has expanded significantly across the country since last March.  However, this does not preclude though the office pools that will still take place, especially in jurisdictions that still do not have legal sports wagering.  The NCAA tournament is one of the largest wagering opportunities in the year, in addition to the Super Bowl that took place just over one month ago.

One of the challenges that will be faced those in legal states is the ability to wager on the ‘home team’, as several of these states have banned wagers placed on local teams and contests including college sports taking place in that jurisdiction.  States across the country are looking to provide these same athletes with the ability to profit from their name, image, and likeness (“NIL”) but provide them “cover” when it comes to wagers being placed legal on them.  However, keeping student-athletes off the legal books only allows an illegal market to continue, exposing these athletes to more harms than protections.  For the integrity of the tournament and student-athletes, the best place for any sports wager is in the legal market without restrictions.

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Research Brief: State Legislative Update on U.S. Sports Betting & Online Gaming February 2021

Posted on February 9, 2021

The buzz from this year’s Super Bowl continues to catch fire with the legal sports betting market as it continues to expand across the country. Almost every media outlet has talked about not only the matchup between the Tampa Bay Buccaneers and the Kansas City Chiefs (or Brady vs. Mahomes), but also a story about wagering, handle, the line, and some of the major brand names across the states that are conducting legal sports betting. This has been the case for several years, but sports betting has become much more mainstream.

This year’s Super Bowl did not offer the match up that everyone had expected between two premier teams featuring what many viewed as the ‘GOAT’ vs. the rising star “Kid.” Tampa Bay’s dominance in all facets of the game threw many sportsbooks off that had the line hovering around three to four points leading up to kickoff. The American Gaming Association prior to the game estimated that $4.3 Billion would be wagered.

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Research Brief: State Legislative Outlook 2021

Posted on January 19, 2021

As 2020 comes to a close and 2021 begins, there is hope for new beginnings. While this happens among many as new year’s resolutions and new starts happen in any year, this is the case now more than ever as the world continues to grapple with the Great Shutdown and SARS-CoV-2. A little over a year ago, the world began the journey that none have experienced in over 100 years since the last pandemic. No one could have predicted that the year would have gone the way that it did, with brick-and-mortar gaming being brought to a complete halt, in some cases more than once. The world also came to realize that online gaming and mobile sports betting can be a strong source of revenue to supplement, not supplant, existing gaming revenue. While the world hopes for a quick turn of the calendar as turning over a new leaf, it will take some time before the world returns to normal and excels beyond, having learned from the past year’s experiences.

One thing that can be noted at the close of 2020 is that revenues for sports betting and online gaming continue to grow. Numerous states have launched their product in the middle of the pandemic, including Colorado, the District of Columbia, Tennessee, and others. Others continued to modify their setup, with Illinois in flux as it hands down executive orders to allow in-person registration without enacting strong, permanent regulations. While many states are still trying to move forward as they launch their market, revenue will continue to increase, with many markets now reaching a stabilized year for growth with a favorable sports calendar that included almost every major sport this past fall. This includes modified schedules in football, baseball, basketball, hockey, golf, and others.

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2020 Trends: Sports Betting

Posted on December 20, 2020

Since the repeal of the Professional and Amateur Sports Protection Act in May 2018, over half of the jurisdictions within the United States have legalized sports betting, and nearly 20 of these jurisdictions are conducting legal sports betting operations today.

Sports betting continues to grow with the emergence of new markets in states such as Tennessee (which launched at the beginning of November), as well as more established jurisdictions such as New Jersey (which is currently at a similar level to Nevada in terms of handle). All the while, new operators and brands are being introduced in the space, and new deals are being announced across the spectrum of sports among operators, teams, leagues, media and other stakeholders.

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Research Brief: State Legislative Update on U.S. Sports Betting & Online Gaming December 2020

Posted on December 17, 2020

Some may believe that the counting of votes is related to the continuation of the November Election. As the November Election continues to take up the airwaves, states are certifying their results, leading up to the Electoral College vote that occurred on December 14th. While court challenges remain, the counting of votes in sports betting showed a wide passage of legislation to legalize the activities. November proved that voters took a strong stance showing that sports betting is supported by a plurality in these jurisdictions.

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