Tag Archives: sportsbooks

Sidelines Shares Insight on the Innovative Act of Legalizing Sports Betting

credit: Keith Allison

Despite how anyone feels about sports betting at this juncture, the process of legalization has begun – and there’s likely no chance of stopping it. In May 2018, when the U.S. Supreme Court overturned the Professional and Amateur Sports Protection Act (PASPA), only Oregon, Nevada, Montana, and Delaware allowed legalized betting on sports. Now, in 2020, the number of states has grown from four to 21, with a promise of more to come.

Once upon a time, this was a topic people remained hushed about, but now, even NBA Commissioner Adam Silver has recognized that legalized sports betting is making its way “out of the underground and into the sunlight.”

This has paved the way for partnerships between the usual suspects: sports leagues, broadcasters, teams, casinos, and sportsbooks, which are being contracted almost as quickly as the legislation is being passed. Just to name a few, the MLB, NBA, NHL, NFL, and UFC have deals with MGM Resorts, FanDuel, DraftKings, FoxBet, William Hill, and Caesars. These lucrative deals entail profits, real-time data sharing, and branding in the form of logos and social media platform exposure. 

But what does this mean for bettors? 

First, sportsbooks will have immediate access to official league data in real-time. Amongst other benefits, this means better set lines/odds both before and during games, including in-play betting. Sportsbooks can also be more creative with the types of wagers they offer, providing bettors with a multitude of betting choices. 

However, because of how quickly the legalization process is occurring, one can easily be overwhelmed by the ideas of partnerships and changes. What’s more, the heightened involvement of data can be daunting for those who want to bet, despite whether they are old pros or newbies. 

There is a light in this confusing, data-driven world of sports betting, though. 

One of the first companies to arrive on the scene is Sidelines, who knew right away that users needed an easy way to learn the market. Therefore, with the idea of providing users with a distinct advantage and an excellent value, Sidelines launched an odds comparison platform, bringing together market research and analysis for real-time odds comparisons across all legal U.S. sportsbooks. 

This is only a small example of what legalized sports betting will bring. 

The countless advantages to legalization and the process will only continue to gain traction within the community as this is further realized. As a result, both bettors and sports fans should keep themselves well informed on any changes and be prepared for the exciting prospects that will accompany it. 

Iowa Sportsbooks to Generate Billions in Bets and Millions in Tax Revenue for the State

Iowa’s online and retail sportsbooks could generate more than $4 billion a year in bets once the fledgling industry in the Hawkeye State hits full maturity, according to analysts for PlayIA.com, which delivers news on the Iowa sports betting and gambling industries. 

On Thursday, when a number of physical and online sportsbooks launch, Iowa will become the 11th state to actively accept legal sports bets. And that will officially open the door to an industry that will eventually inject millions of dollars into state coffers.

“Once the Iowa market reaches maturity, its potential is on par with what Nevada is today,” said Dustin Gouker, lead analyst for PlayIA.com and a veteran observer of the legal sports betting markets across the U.S. “That means a handle that will exceed $4 billion a year, and perhaps approach $5 billion. And as we have seen with the success of the early adopters of legal sports betting, such as New Jersey, the state should reap millions in tax revenue.”

According to PlayIA.com:

  • It will take Iowa five years or more to reach full maturity. But once it does, the state’s handle should eclipse $4 billion and even approach $5 billion. Those estimates are based in part on the handle that Nevada generates with a population that is similar in size to Iowa.
  • If Iowa reaches its full potential as a market, operators could generate more than $300 million a year in revenue, or “win” in gaming parlance.
  • With a tax rate of 6.75%, Iowa would generate more than $20 million a year in tax revenue if the win reaches $300 million a year.

“We have seen in almost every legal jurisdiction that sports betting can be safely regulated and serve as an economic engine for the state, and Iowa should be no different,” Gouker said.

If there is a downside for Iowa it is that the opportunity to generate significant revenue and handle will be muted to start. That is almost entirely due to the  requirement that online bettors sign up in-person at a physical sportsbook until early 2021, which will initially slow the industry’s growth.

In New Jersey, where there is no such requirement, more than 80% of all sports bets are made online. That will be a level unreachable in Iowa until the in-person requirement is lifted.

“The requirement of in-person sign-ups until early 2021 will mean Iowa will not capture all of the market at the start,” Gouker said. “But once that requirement sunsets, Iowa sports betting should really take off.”

For more information and analysis on regulated sports betting in Iowa, visit PlayIA.com.

Genius Sports Group Appointed Serie A’s Exclusive Data Supplier For Betting

AC Milan (Wikimedia-goatling)

Genius Sports Group, a global leader in sports data technology, has been awarded the exclusive right to collect official Serie A betting data in stadia from the start of the 2019/20 season. 

The data will be captured using the Group’s advanced pitchside technology and instantaneously distributed as a live feed to licensed sportsbook operators outside of Italy via its sports betting arm, Betgenius. 

By creating the fastest, most accurate and reliable real-time data feed on Serie A fixtures, Betgenius will offer sportsbooks and their customers access to premium content and a world-class betting experience, while providing the league with a solid return for betting on its games. 

To provide enhanced control and visibility over the use of its betting data, Serie A will launch its first rights enforcement initiative, including the identification and ejection of unauthorised data collectors operating in-stadia. 

Jack Davison, Chief Commercial Officer of Genius Sports Group, said: “Our partnership with Serie A is another example where we work with the most important global sports competitions to ensure our sportsbook operators have complete confidence in the security of their data supply and that our organisation will deliver the most trusted and compelling betting products to operators around the world. We look forward to working alongside Serie A to help extend the reach one of the largest leagues in world football.”