Alabama Coming up with Sports Betting Bill

Alabama Coming up with Sports Betting Bill

Alabama is another state that could join the sports betting industry in 2022. An effort to have a bill passed in 2021 nearly made it past both chambers of the Alabama legislature; however, the cause gained no traction in the House on the last day of the session.

Alabama is Still Pushing For Sports Betting

This year at least one senator is drafting a bill that will introduce a comprehensive gaming bill that will most likely include sports betting. The session will begin on Tuesday, and Sen. Greg Albritton has yet to bring up the bill in any conversation.

Sen. Jim McClendon sponsored a similar bill last year and had this to say;

“The real question is, what is the House going to do…Last time, we sent a bill well in advance of the waning days, and they just didn’t act on it. If the past is a predictor of the future, they may fumble the ball again.”

Alabama is one of the few states without a lottery as the Senate has approved a constitutional amendment that would set up a lottery for the state. This effort of trying to establish a lottery has been going on since a ballot measure failed in 1999.

The state may not have sports betting at the moment, but Alabama did legalize daily fantasy sports in 2019. Last year’s Senate bill would have put the lottery in the voters’ hands of whether the people wanted a lottery or not. It would have permitted not only sports betting to establish a market in the state but also up to six casino facilities to open its doors.

The bill would have also established a gaming commission that would have called for a compact with the Poarch Band of Creek Indians. Sen. President Pro Tem Greg Reed believes the bill will garner more support and consideration moving forward. However, the same issues could arise once again in 2022.

Last year’s bill could not gain support from the House, and 2022 is such an important year for the representatives that are involved. House Speaker Mac McCutcheon believes the same problems will remain as 2022 signals an election year. Regardless of Alabama’s sports betting support keeps growing as time passes by.

The Support For Sports Betting Keeps on Growing in Alabama

Those who support sports betting see the benefits of bringing it to the state. Neighboring states have already seen where the tax revenue is heading towards, like education scholarships, infrastructure, and helping organizations that help those dealing with gambling addictions recover.

Gov. Kay Ivey is a strong supporter of the gaming commission as he was able to oversee the study that was done if a gaming commission was established in the state back in 2020. The study covered that a lottery, casinos, and sports betting could potentially raise to $700 million in the state.

The Alabama Track Owners Association launched an ad this month that encouraged the passing of gaming legislation that would help speed up the process. Last year’s legislation would have allowed four racetracks to become casinos in the state. The Poarch Band of Creek Indians were also on board with this legislation.

Alabama’s legislation will have some work to do as many other neighboring and southern states have already established sports betting markets and are key contributors to the industry. Florida had a market, but it was quickly shut down as it was deemed illegal.

Tennessee’s mobile sports betting has been a big hit in the state, and Georgia is also pushing for sports betting and could end up on a ballot in 2022. Mississippi could expand its sports betting reach to mobile as they already have retail sports betting market. Arkansas and Louisiana could also push for mobile sports betting in their states.

Missouri Legislature Discussion Sports Betting

Missouri Legislature Discussion Sports Betting

Sports betting is starting to become a way of life in America. On Saturday, the state of New York launched sports betting ahead of the NFL playoffs. This was a massive deal for the state and industry as a whole.

This news has overshadowed many other significant developments in the national sports betting industry. Legislative sessions are starting to resume following the New Year. This means that new states are going to begin legalizing sports wagering.

Missouri is one state where sports betting is now being discussed in the legislature. There is a high likelihood sports betting makes its way into the state this year based on based discussions between lawmakers.

Sports Betting Proposed

Senate Bill 764 was introduced by Tony Luetkemeyer, Senator our of Parkville. This is one of three sports betting bills being discussed in the legislature. Three bills show there is a significant demand for sports betting in the state.

The legislative session started on Wednesday at the Capitol in Jefferson, and it will conclude on May 20. This is a lot of time, but lawmakers must be efficient in making sports betting a reality. The question is if lawmakers can bring it to fruition.

The sports betting bill in Missouri would allow for mobile betting, which is the largest moneymaker in the betting industry. Sports betting would also be available in a retail betting format through excursion gambling boats.

The biggest draw for legal sports betting would be the financial gains the state could make on the mobile side. Party boats would be a fun way to generate revenue, but this is projected to be a small portion of the money coming into the state.

Sports betting operators who wanted a license would be required to pay a $50,000 application fee. This is moderate relative to what some states are charging, but it’s a great way for the state to generate revenue initially.

The other sports betting bills include SB 643 and HB 1666. These bills are part of eight total bills that lawmakers are scheduled to review during the session.

There is a Rush

There is a rush to legalize sports betting in the state. The form of gambling is sweeping the nation, and this is causing the state to lose out on tax revenue. Sports betting is legal in four states that border Missouri, and it’s now legal in Nebraska.

If people are not traveling across the border, they are likely betting offshore. Missouri is losing tax dollars, which has lit a fire under lawmakers to solve problems and legalize betting.

Luetkemeyer said, “We’re increasingly seeing people in the state of Missouri who is leaving and going to those other states to place sportsbook bets, and that means we’re seeing money and tax revenue leave the state, money that would ordinarily go to schools.”

The state has the framework to be a very successful gambling state. Between the population and number of professional sports teams, Missouri is poised for big numbers. The only issue is working out the deals between lawmakers.

The Kansas City Royals and St. Louis Cardinals both have large fan bases. These teams play 81 home games per season at a minimum, which generates excitement for sports betting. In the NFL, the Chiefs are one of the most favorite franchises in America.

They are led by Patrick Mahomes, who could easily help generate some betting revenue. The St. Louis Blues of the NHL are also very popular. Since fans would have the ability to bet at games, it would work wonders in the state for revenue.

Arizona Sees Large Sports Betting Numbers

Arizona Sees Large Sports Betting Numbers

The Arizona Department of Gaming has compiled the sports betting numbers from September and October and released a full report. Experts predicted that Arizona would turn into a massive sports betting market, and that is exactly what happened.

The total sports betting handle for the first month was $291.2 million, and that wasn’t even a full month’s worth of betting. October was much larger as Arizona closed in on a sports betting handle of nearly $500 million.

Launching right before the start of the 2021 season was planned, and that plan worked to perfection. The report doesn’t list the sports that brought in the most action, but football had to be at the top of the list.

Tennessee previously held the record for the sports betting handle total in the first month of operation. That record was set at just $131.4 million, allowing Arizona to fly right past it.

The October sports betting handle total put Arizona in seventh place on the list of largest sports betting markets. Colorado was slightly ahead, and these two states should be battling it out for customers in that part of the country.

Rules Benefitting Sportsbooks

The gross sports betting revenue was impressive for Arizona as well, but that didn’t lead to a massive amount of tax revenue. There are some favorable rules for operators when reporting revenue that has had a major impact on the state.

The gross revenue was $31.6 million for the month of September, and it was $36.3 million for the month of October. Sportsbooks were allowed to deduct promotional money from the total that was reported, though, and the state failed to generate even $1.5 million in tax dollars.

This promotional total is going to go down over the next few months as sportsbooks won’t have to offer these bonuses as a way to get business. As long as the revenue continues to climb, then the tax revenue will increase as well.

Can Anyone Challenge DraftKings?

DraftKings has been the clear leader in terms of handle and revenue each of the first two months, and there hasn’t really been a legitimate challenger. BetMGM and FanDuel have battled it out for the second spot, but it might take some time before there is a change at the top.

The total handle for DraftKings in September was $97.7 million, and that total jumped up to more than $151 million in October. The combined gross revenue for DraftKings was more than $23.5 million, allowing it to stake its claim as the top option in the state.

After having the third-highest handle for September, FanDuel Sportsbook posted a handle of $115.9 million for the month of October.

More Sportsbooks Coming

Even though Arizona is off to a massive start, things are only going to get better. There were eight sportsbooks available in September, and that number has since grown all the way up to 11.

The Arizona Department of Gaming has already approved seven other operators to launch, and those sites should go live at some point in early 2022. It won’t take long for Arizona to become a top-five sports betting market at this rate.

There are clearly some top online sportsbooks already available in Arizona, and that will make it hard for these new options to attract customers. Partnering with professional sports teams and major casinos will allow these sites to gain some attention.

Arkansas Looking to be Next to Join Sports Betting Party

Arkansas Looking to be Next to Join Sports Betting Party

Sports betting is beginning to become a way of life in the United States. It’s hard to think that the industry was just legalized in 2018 when the Supreme Court eliminated the Professional and Amateur Sports Protection Act.

The southern states have been slightly slower to the gambling party. This is because of foundational religious beliefs amongst these states, but this is no longer the case. The south almost has unanimous legal sports wagering, and Arkansas may be the following jurisdiction to expand its industry.

Retail sports betting began in July of 2019, and the Arkansas Racing Commission voted to expand to online betting on Thursday. This is thanks to the large success of retail betting. Mobile wagering will give bettors in the state more opportunities to place bets and win big.

Mobile Sports Betting

Arkansas casinos have been offering retail sports betting since July of 2019. This was a hit immediately in the state, and it caused many legislators to push for a new set of sports betting rules.

There were hours of discussions with stakeholders on Thursday before the vote occurred. However, the Arkansas Racing Commission passed the new laws with ease. There is still one more step that must occur before online sports wagering goes live in Arkansas.

The rules need to be approved by a subcommittee, which will likely occur in 2022. The hardest part of bringing mobile sports betting to the state was the approval from the Arkansas Racing Commission.

If sports betting is approved in early 2022, the industry will quickly be able to implement mobile wagering. The national sports betting operators fought hard to add to the mobile industry. DraftKings and BetMGM were two stakeholders who requested each casino receive four skins.

The casinos were content with the two-skin rule, and this is partially thanks to the financial agreement that Arkansas operators must follow. There will be little leeway when it comes to the profit share between casinos and operators.

Arkansas made the regulations to keep money in the state, and this is an unprecedented rule amongst the national landscape.

The Rules

The Arkansas Racing Commission made a rule where the casinos must receive 51% of the profit. Sports betting operators like DraftKings and BetMGM are not happy about this regulation.

The two conglomerates argued the decision should be between the two parties. According to the operators, the Arkansas Racing Commission should not dictate how much money goes to each party.

DraftKings and BetMGM said that increased operators would heighten profits, allowing casinos and individual operators to make more money. This would lead to extra tax revenue for the state, but the Arkansas Racing Commission did not buy into this argument.

The profit share between casinos and operators is typically between 5 and 15%, so Arkansas may not be a market with high demand for mobile sportsbooks. The thing that hurt BetMGM and DraftKings’ argument was the latest legislation in New York.

Operators happily accept a 51% profit share in New York, and Carlton Saffa of Saracen Casino argued this. However, sportsbooks were happy taking this rule in New York because it’s one of the last big states remaining that has not legalized betting.

New York has so many people that sportsbooks can afford a 51% profit share, but Arkansas does not provide the same framework for betting success.

Yet, there is still potential in the state. Arkansas voters approved sports betting in November of 2018, and the industry launched in July of 2019. Since this date, there have been more than $104 million in wagers. This gave the state $1.9 million in tax revenue.

DraftKings and BetMGM Pushing for Arkansas Sports Betting Access

DraftKings and BetMGM Pushing for Arkansas Sports Betting Access

Sports betting is exploding throughout the United States, and it’s starting to move to the southern portion of the country. This is a monumental change as the country’s southern portion was slower to adopt legal sports wagering.

Arkansas is one of the states in the south that has legalized sports betting. It’s currently available in a retail format and has been since July 2019.

However, the state is still far from launching legal online betting options for people within borders. DraftKings and BetMGM were major players in the lobbying process for legal sports betting. DraftKings and BetMGM are not happy with Arkansas’s current sports betting market because of the limited number of books.

Leaders in these companies are attempting to get the Arkansas Racing Commission on board with their new demands. Although, only time will tell if DraftKings and BetMGM can make things happen and grow the mobile presence in the state.

Online Sportsbook Demands

DraftKings and BetMGM have submitted formal letters to the Arkansas Racing Commission. Each sportsbook requested that at least four mobile skins are allowed for each casino compared to the two books that are currently slotted.

The Racing Commission in Arkansas was assigned to oversee sports betting in the state. It will vote on Thursday if a rule change will be allowed. The commission meeting is scheduled to begin at 11 AM ET, so pay attention to the news in the state for updates around this time.

The current rule gives each casino two skins, which is still a significant number of books compared to some states. The resorts are allowed to open their own mobile sports betting platforms. This will require a lot more money upfront, but it will lead to extra funds in the future.

The casinos could also partner with outside sportsbooks like DraftKings and BetMGM. This will likely be the preferred option because the sportsbooks have the technology for a swift implementation.

More Competition

DraftKings and BetMGM are hoping for more sportsbooks in the state because it will increase competition. Competition will lead to better sports betting experiences for people in the state. It will also help increase revenue for Arkansas, which is one of the main selling points DraftKings and BetMGM included in their written letters.

DraftKings wrote, “Competition among operators benefits Arkansans as it results in innovate products, better promotions and incentives, and more favorable pricing.”

The casinos in the state do not seem to be on board for the additional skins. It will be hard to attract more than two books per property in a state like Arkansas, so the properties are content with the current rule.

Most of the casinos just want to begin offering sports betting as soon as possible. This is a huge moneymaker for the state, so the quicker, the better.

The Arkansas Racing Commission will decide if casinos will receive a 51% profit share with national sports betting operators. This would be a non-negotiable deal, and it would be unprecedented throughout the nation.

The typical profit share is between 5 and 15%, decreasing the number of sportsbooks interested in the Arkansas market. BetMGM and DraftKings made the argument that the profit shares should be between the casino and operator.

However, it does not appear this rule will change because the Arkansas Racing Commission has been said to value this idea. The casinos want the majority of the profits to stay in the state.

The bookmakers are attempting to end this before it starts, and DraftKings/BetMGM have started a coalition including FanDuel, BallyBet, and Fanatics Sportsbook to lobby against this rule.

Sports Betting Legal in Ohio

Sports Betting Legal in Ohio

Sports betting is sweeping the nation, and now Ohio has joined the list of legal jurisdictions.

Governor DeWine’s signature made sports betting legal in the state, but this does not mean bets will be placed any time soon. There are still a few steps that must occur before sports betting is legalized.

The Ohio Casino Control Commission must set the rules and regulations for the sports betting industry in the state, and there is no timeline for how long this process will take. Yet, sports betting cannot begin any later than January 1, 2023.

Nevertheless, according to Senate Majority Leader Kirk Schuring, it could begin earlier than January 1, 2023, if everything falls into place. Ideally, sports betting will begin in Ohio before the 2022 football season.

Bipartisan Support for Sports Betting

The sports betting legislative process took years to institute in Ohio, and a big reason for this was disagreements between Republicans and Democrats. The reason sports betting passed through House Bill 29 was that it included a stipulation regarding veteran IDs.

Republicans and Democrats were able to get on the same page, and a big reason for this was the added veteran ID feature. Sports betting can be taken at retail locations and through mobile devices.

Wagering will also be legal through kiosks at restaurants, bars, grocery stores, and liquor stores. According to Schuring, there will be many licenses in the states.

He said, “It will allow Ohio’s casinos, racinos, and Ohio’s ten sports franchises to contract with an online mobile app provider, like FanDuel and DraftKings. It also will allow for (brick-and-mortar sportsbooks) that can contract with an online mobile app provider to do sports gaming within their facility. The kiosks won’t start before the online mobile apps. The sportsbooks won’t start before the kiosks and so on and so forth.”

No Advantages

In some legal sports betting states, retail or mobile sports betting may get a head start depending on the legislation. It’s easier to launch retail sportsbooks rather than mobile books, but neither will have an advantage in Ohio.

No entity can begin sports betting before the whole market is ready to go live. Ohio sports betting is now legal, but it’s in a waiting period. Florida and Nebraska are the two other states in this waiting period following legalization.

Sports betting is now legal in Washington D.C. and 30 other states. Ohio joins neighboring states like Michigan, Indiana, Pennsylvania, and West Virginia that offer legal sports wagering. Sports betting is expected to be very popular in the state, with approximately 12 million residents.

The state also has a professional sports team in every major league and multiple D1 colleges. The largest is The Ohio State University, but it’s unknown if college betting will be legal. Most states allow college sports betting on programs outside of the state.

The Ohio Casino Control Commission will make the rules around collegiate sports betting, taxes, and licensing. There is still a long wait for betting, but the most challenging part of the legislative process is complete.

FanDuel Launching 3 Sportsbooks in Louisiana

Louisiana Set to Launch Sports Betting November 1

The Louisiana Gaming Control Chairman Ronnie Johns hopes to launch online sports betting in the state before Super Bowl LVI takes place. For now, three sportsbooks that received approved licenses to operate inside Louisiana casinos are not open but should be running very soon.

The Three casinos Will Feature FanDuel Sportsbook In Their Specific Location 

The three locations featuring FanDuel Sportsbook in their locations are Sam’s Town Hotel and Casino in Shreveport, the Amelia Belle Casino near Morgan City, and Evangeline Downs Racetrack Casino Hotel near Opelousa. Before accepting wagers on different sporting events, all the locations are awaiting the opening of retail sportsbooks to happen first.

The three locations are owned by Nevada-based Boyd Gaming that will have a space dedicated to FanDuel Sportsbook. Sam’s Town Hotel and Casino and Amelia Belle Casino are both Riverboat casinos. On the other hand, Evangeline Downs Racetrack Casino Hotel is a land-based horse track.

All three locations that the Nevada-based Boyd Gaming owns are three of the thirteen sportsbooks that have received licenses to conduct business within the state’s borders. The other ten sportsbooks are already running in casino attractions like New Orleans, Baton Rouge, Lake Charles, and Shreveport-Bossier City.

Johns has been on board since sports betting operators got the green light to jumpstart the market. He wanted to approve as many licenses as possible after successfully doing all the necessary background checks earlier this year. 

At least two more sportsbook licenses are expected to be handed out to casinos for the foreseeable future. Other state-regulated casinos will have until the end of the month to apply for an on-site sportsbook license.

Voters In The Saint Tammany Parish Reject The Casino Proposal 

Thirteen riverboat casinos are operating across the state. New Orleans is home to a land-based hotel-casino, and four racetracks have the permission to use slot machines as part of its business.

Two casinos are currently not in operation but are scheduled to reopen in 2022. Hurricane Ida caused a lot of destruction in the state and damaged a riverboat casino in Lake Charles is also on pace to open in 2022 as a land-based casino. One other casino license holder that goes by Peninsula Pacific Entertainment, or P2E for short, had hoped to build a land-based waterfront hotel-casino near Slidell. 

However, the plan was rejected by voters in the Saint Tammany Parish as a few parishes across the state have dismissed anything related to gambling. This specific parish rejected a casino proposal on Saturday.

The company has up to sixty days to decide if it wants to reopen a riverboat casino where the operation started, located on Red River in Bossier City.

Many sportsbook operators are anticipating the launch of mobile sports betting in the state before the Super Bowl in February. At this moment, sports bettors must be inside a gaming facility to place a wager due to the geofencing restrictions.

Under a bill Gov. John Bel Edwards signed in the summer, the twenty casinos-approved license holders can operate up to two mobile betting platform skins. The Louisiana Lottery Corp. will be allowed to operate only one sport betting skin as part of the law.

However, the Louisiana Lottery Corp is in charge of overseeing bettors’ operation, placing wagers through kiosks scattered throughout bars and restaurants with liquor licenses so that the operation runs smoothly. Sports betting kiosks are expected to be up and running by early next year.

Ohio Sports Betting Down to Governor’s Signature

Ohio Sports Betting Down to Governor's Signature

Ohio sports betting looks promising, as a bill has reached the desk of Governor Mike DeWine. Ohio is located in an area where sports betting is a hotbed in states like Pennsylvania and West Virginia.

Lawmakers have been trying to implement sports wagering for years, but the two parties and chambers had disagreements in the legislation. Ohio is a heavily populated state that has been losing money to other states for sports betting for years.

Following Wednesday, it appears that sports betting is going to be legalized in the state.

Sports Betting is One Signature Away

The hard part for legal Ohio sports betting is complete. The bill has been passed in the two legislative chambers and headed to Governor DeWine’s desk. DeWine has declared multiple times that he is a proponent of legal sports betting.

When DeWine signs the bill, sports betting will become legal in Ohio. Under the bill, the latest sports betting could begin is January 2023. However, many legislators aim to launch sports betting by the beginning of the 2022 NFL season.

If DeWine signs sports betting into law shortly, this is a very realistic goal for Ohio. The Senate and House of Representatives overwhelmingly approved sports betting in the state.

House Bill 29 would allow for sports betting on mobile devices and through retail sportsbooks. There would be a 10% tax put on all types of sports wagering. The Senate approved the bill by a 30-1 margin, and the House supported the legislation 72-12.

Lawmakers claimed that they were on the same page, and this legislative process was going to be the one where sports betting is legalized.

Mobile Betting will Steal the Show

Mobile sports betting is the main way people wager throughout the United States. Based on the bill, there have been projections that mobile wagering could receive up to 90% of the bets. There would be 25 “Class A” licenses implemented in the state.

The licenses would be granted to sports teams, casinos, and racinos. These companies would then distribute the mobile permits, and all permits would be on a five-year basis. There are four casinos and seven racinos in the state.

The bill would give the 21 sports teams and the casinos/racinos the opportunity to partner with two mobile skins. The other four licenses would give recipients the ability to launch one mobile betting skin.

The first betting skin would cost $3 million, and the second would be $10 million. The taxes are very low in Ohio for operators, but the upfront licensing fees will help the state generate a lot of revenue.

The 90% of the market going towards mobile betting would be consistent with national trends. There would also be 42 “Class B” licenses that would go to sports teams, casinos, and racinos to operate retail sportsbooks.

“Class C” permits would be granted to bars, restaurants, and bowling alleys that have a liquor license. These sites would be granted two sports betting kiosks a piece. However, this may be a losing venture considering the extent of mobile wagering in the future Ohio market.

The kiosks would allow money line, prop, and parlay bets that include up to four teams. There were a lot of layers that went into sports wagering in the state.

Lawmakers are hopeful that the time it took to legalize betting will pay off financially. The neighboring states of Indiana, Michigan, Pennsylvania, and West Virginia have encompassed much of Ohio. Additionally, offshore sports betting has also caused the state to lose money.

Once DeWine signs the bill, the implementation process will be ready to begin.

Ohio Starting to Make Initial Noise for Legal Sports Betting

Ohio Starting to Make Initial Noise for Legal Sports Betting

Sports betting is starting to sweep the nation. There are currently 30 states and Washington D.C. that have legalized sports betting. This is because of the lucrative nature of the industry. More state legislators are pushing for legal sports betting to drive extra revenue.

Ohio is a state that would benefit drastically from legal sports betting. The sports fans and professional sports teams would make for a large legal gambling industry. There have been many holdups in the state legislature, but the sports betting bill seems to be making some progress.

The sports betting bill in Ohio is scheduled for a committee hearing in the state capital of Columbus. The bill will be read on Wednesday at 11 AM, which was posted on the Ohio Legislature website. State Representatives Jay Edwards of Nelsonville will chair the Conference Committee and direct the meeting.

Edwards has been one of the primary legislators pushing for sports wagering in the state.

Next Steps

The sports betting bill is expected to pass in the Conference Committee. Anything can happen in the sports betting legislative process, as we have seen since 2018, but it would be shocking if the bill did not pass.

If it’s passed on Wednesday morning, the bill would go back to the Senate and House of Representatives for a vote that would likely take place this week. If the Senate and House pass the bill, it would be sent to Governor Mike DeWine.

DeWine has already stated that he supports sports betting, so the real test for sports betting will occur on the Senate and House floors. Sports betting has been held up in the two legislative chambers before, but things are expected to be different this time.

If sports betting is passed, Representative Bill Seitz said that sports betting will begin by January 1, 2023. This means Ohio citizens will still have a decent wait before they can place bets in the state.

The goal will be to launch sports betting by the beginning of the 2022 football season. However, anything can happen during the implementation process, so it’s unknown what will occur once it’s legalized. Yet, the first step is for sports wagering to be legalized in Ohio.

Same Page for Sports Betting

The Senate and House lawmakers from both political parties seem to be in agreement for legal sports betting finally. This will be critical for the bill to pass in the statehouse. Senate Majority Leader Kirk Schuring spoke the framework for approval.

He could not give exact details of the bill, but he is expecting the legislation to be passed.

He said, “We have an agreement on sports gaming. I expect the Conference Committee to meet this week and for the conference report to be approved, and then it will go to the House and Senate floors this week.”

There are no more statehouse sessions on the legislative calendar after December 15. If the bill is not passed, lawmakers would return to debate the bill after the new year. The bill would create up to 25 mobile betting licenses in the state.

The casinos and sports teams would be responsible for the licenses. This would give people the opportunity to place mobile sports bets from their phones. There are currently four casinos and seven racinos in operation.

Ohio is the state’s seventh-largest in the country in terms of population. There are 12 million residents in the state, a professional team in each major sports league, and The Ohio State University Buckeyes.

Sports betting is legal in nearby states like Indiana, Michigan, Pennsylvania, and West Virginia, so Ohio is losing money.

Colorado Joins in with HUGE Sports Betting Numbers for October; led by Mobile

Colorado Joins in with HUGE Sports Betting Numbers for October; led by Mobile

Sports betting in the United States has been booming throughout the fall. States recorded large handles in September and many set records. This has been magnified after the October numbers were reported.

Football is key for the growth of legal sports betting because it’s the most wagered contest in the United States. This is why many states are constantly posting records in the fall. When football is combined with the other three major sports as it was in October, it’s a recipe for staggering growth.

Colorado is one state that had a terrific month in October. Colorado sports betting is still relatively young, but this does not mean that the market is not a legitimate contender in the United States.

The state set a sports betting record in September and then shattered this mark in October. The craziest part of the record is that mobile betting shined more than any other month in state history.

The October Handle

Colorado became the most recent state to report a record for the month of October. It will likely not be the last as there are a few states that need to report their numbers for the month. Mobile betting accounted for 98% of the total handle, which was the most surprising part of the record.

Mobile betting always seems to dominate totals in the United States, but it was the driving force in the October record for CO. The state’s handle was up 20.4% from September, which was the previous record total.

The total in September was $408.3 million, and it was $491.4 million in October. This was shocking for the industry that the record rose just over $80 million, and the Colorado Department of Revenue’s Gaming Division made this clear when they reported the numbers.

The month-to-month growth was epic, but the year-to-year growth is also something to view and be impressed with. 2020 was a COVID-19 year, and in October, there were no vaccines available, and jobs were limited. This must be considered when viewing the 2020 handle, but this should not take away from the surge over the year.

The October 2020 handle was $210.7 million, so the rise was noted at 133.2%. Colorado joined many other states that set records during the month. The most notable state was New Jersey, which is the headliner in the legal American betting market.

New Jersey had its second straight month taking over $1 billion in bets. Nevada also joined the $1 billion club. This handle was unprecedented a year ago, but now with NJ and NV leading the way, other states will start creeping towards this total. Betting is currently legal in 30 states and Washington D.C. throughout the country.

Big Month for Mobile Betting

Mobile sports betting accounted for 98% of the handle. The October mobile handle totaled $483.3 million, and this was a 20% spike from the September mark. In September, $402.7 million in bets was placed.

The online number was 134.1% higher than one year ago in CO, showing what extra providers and the combination of all major sports can do for a handle. Professional football was the most wagered sport in the state, with $171.2 million in bets.

Basketball came in second place with a $63.3 million handle. This was followed by college football at $51.9 million. Playoff baseball also played a role in the handle growth with $37.3 million, and then soccer rounded out the final position with $15.8 million.

CO is an excellent state for sports betting because there are five major professional sports teams. This helps keep enthusiasm high across all playing fields.