What a week. Where to begin?
The XFL is off to a hot start (one that exceeded the AAF in no time). More and more legalized sports betting platforms continue to pop up. So, too, are more and more bills to regulated wagering.
As such, it seems like we barely have time to keep our heads above water long enough to catch our breath.
Just like we like it.
On to the Rewind:
Could NFL Redskins land a sports betting license?
States across the country are rolling out legalized sports betting or introducing legislation to accomplish such a task. And, of course, much of these discussions surround economic impact, among other things.
But we may have our first example of states potentially bidding to be the host of a professional franchise.
In a paragraph of a Virginia sports betting bill, language included hinted that the tenant of a newly built stadium in the state could offer retail wagering.
Per the bill, the state can issue a permit to operate a sports betting facility “only if the applicant (i) is a major league sports franchise, (ii) will conduct sports betting operations at a sports betting facility on which construction began on or after July 1, 2020, and (iii) is otherwise qualified under the provisions of this article.”
The timing of this inclusion comes at an interesting moment, whether coincidental or not. After all, Daniel Snyder, owner of the NFL’s Washington Redskins, appears to be on the hunt for a new stadium location. While his team is headquartered in Virginia, the owner has visited with Maryland lawmakers to discuss allowing FedEx Field to offer legalized wagering. (The team’s least with the Maryland stadium expires in 2027.)
With Virginia including exactly what Snyder seeks, perhaps it could become the frontrunner for a new Redskins home.
William Hill, CBS Sports headline latest media merger
The next craze amid the ever-expanding world of legal sports betting appears to involve the media.
The latest example of this trend came courtesy of a partnership formed between CBS Sports and bookmaker William Hill.
Following months of speculation as to how William Hill could widen its reach, a “strategic partnership” emerged between the two entities, making William Hill the official sportsbook and wagering data provider for all CBS Sports platforms.
The first signs of this partnership will start cropping up in March, and a full rollout is expected in time for the NFL season.
According to the deal, William Hill gains access to promote its brand across CBS Sports’ digital platforms. William Hill will also have its data, odds and markets used by CBS, which stands as the second-largest sports property in the US with over 80 million users per month.
William Hill and CBS, of course, are not the first to bridge the gap between bookmaking and media. Similar past deals include those between MGM and Yahoo, The Stars Group and Fox Sports, and Penn National and Barstool Sports.
Time will tell how far these types of partnerships will go.
NJ sports betting takes over top spot
In just the second-ever January with legalized sports betting in New Jersey, the Garden State has already usurped Nevada.
Reflecting a mammoth 40% increase from January 2019, a total of $540.1 million was wagered in the Garden State last month. Not only does that represent three straight months with more than a half-billion handle, but it also set a milestone:
After all, the granddaddy of them all – Nevada sports betting – has never eclipsed $500 million in January wagers.
As it as long been, online wagering in New Jersey carried the load. Some 87% of bets placed in the Garden State came via betting apps. Funny enough: That is actually DOWN from December, during which time 88% of wagers were made online.
This gives New Jersey a jump-start its efforts at toppling last year’s record of nearly $4.6 billion in handle. The next few months provide more fodder, what with March Madness, The Masters and the beginning of the MLB season.