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UPDATE 6/14 6 pm ET – This story has been updated to include information about a bill Colorado Gov. Jared Polis signed into law last week to limit carryover deductions by licensed sports betting operators that will be effective next year. A report released Monday by the Colorado State Auditor uncovered several issues with how state officials regulated sports betting. That included a sportsbook-friendly tax policy regarding deductions that cost the state significant amounts of revenue, as well as an inability to prove operators’ tax filings are accurate. The Colorado State Capitol in Denver. A report released by the Colorado State Auditor on Monday found several issues with the Division …

Sports wagering national advertising nearly quadrupled for the nine months ending May 31, soaring 281% to $282 million over that period, according to iSpot.tv. A scene from a FanDuel commercial. The operator is a leader in terms of sports betting advertising, according to a research firm. (Image: The Drum) From September 2021 through May 2022, total impressions jumped 48% to 18.2 billion, compared with the year earlier period. The research firm indicates 60% of those impressions were derived on traditional national linear television, while 37% came by way of local broadcasts. Less than 3% were generated via streaming mediums. Not surprisingly, the NFL — the most popular sports league in …

Maryland casinos reported gross gaming revenue (GGR) last month of $178.76 million. The haul represents the second-best month on record. Maryland’s first casino opened in September 2010. Live! Casino Hotel Maryland in Hanover. Maryland casinos won just shy of $180 million from gamblers in May 2022. It’s the industry’s second all-time best month on record. (Image: Casino.org) May 2022 represented a 3.7% improvement on May 2021, and 17.4% better than the approximately $152.3 million the six commercial casinos won in pre-pandemic May 2019. The $178.7 million May ’22 win trails only July 2021, when the casinos pulled in a record $180 million from gamblers. The industry momentum seems to threaten …

In less than five months, New York has generated more than a quarter of a billion dollars in taxes from online sports betting. That’s according to a statement released Tuesday by Gov. Kathy Hochul. New York Gov. Kathy Hochul holds up a personalized Brooklyn Nets jersey during a Nov. 2, 2021, press conference at the Barclays Center. On Tuesday, Hochul announced that New York has become the top state for sports betting tax revenue, generating more than $265 million in taxes since online sports betting apps launched in the state in January. (Image: Office of Gov. Kathy Hochul/Don Pollard) Thanks to the 51% tax rate on online sportsbook revenues, the …

Sports betting in Ohio will launch on Jan. 1, 2023. Ohio Casino Control Commission Executive Director Matt Schuler made the announcement at Wednesday’s commission meeting. A welcome sign on the Robert C. Byrd Bridge greets travelers entering Ohio from West Virginia. on Wednesday, the state’s Casino Control Commission announced sports betting will start on Jan. 1, 2023. (Image: Jimmy Emerson DVM/Flickr) The date was not necessarily a surprise. When the state’s legislature passed a law legalizing sports betting late last year, it set Jan. 1, 2023, as the rollout deadline. The law required all aspects of sports betting to begin simultaneously, meaning online apps (Type A), brick-and-mortar sportsbooks (Type B), …

The California Teachers Association (CTA), one of the largest public-sector unions in California, has come out against the proposed referendum to legalize online sports betting in the state. California Teachers Association President E. Toby Boyd speaks during the union’s State Council of Education meeting in March. The CTA’s council has voted to oppose a measure that would legalize online sports betting in the state. (Image: CTA) The labor organization announced earlier this week it would oppose the measure offered by seven national sportsbooks. Those sportsbooks have pledged $100 million to promote “Californians for Solutions to Homelessness and Mental Health Support,” a political committee that circulated petitions for the initiative that …

Politicians in Poland are hoping to force the country’s Ministry of Finance to change the tax structure for sports betting activity. They want a tax on gross gaming revenue (GGR) instead of on turnover. The flags of Poland and European Union flying in front of the Polish parliament in Warsaw. Government officials are pushing for a rejig on how the country taxes sports betting operators. (Image: Reuters) Poland’s Ministry of Finance is analyzing the tax on sports and pari-mutuel betting in the context of a potential change in the tax base. Currently, operators pay their taxes on the applicable amount of stakes. But lawmakers would prefer the calculation be made …

Betting on Saturday’s Preakness Stakes dropped by 5% from a record 2021, according to figures published by Pimlico Race Course. Early Voting, with jockey Jose Ortiz aboard, wins Saturday’s Preakness Stakes at Pimlico Race Course in Baltimore. Betting for the race, the second jewel in thoroughbred racing’s Triple Crown, was down about 5% from last year. (Image: Preakness Stakes/Twitter) All-sources wagering on the second jewel of the Triple Crown totaled $65.3 million. That’s down from the $68.7 million bet last year. This year’s race did not include the Kentucky Derby winner, as Rich Strike’s connections opted to prepare the colt for the Belmont Stakes next month. Last year’s race featured …

The Massachusetts sports betting debate in the state Legislature is headed for a conference committee. That’s after the legislative chambers remained deadlocked regarding the regulatory specifics of the expanded gambling. DraftKings’ corporate office in Boston in 2020. Massachusetts sports betting discussions are entering a conference committee in hopes of Senate and House lawmakers ironing out their legislative differences. (Image: AP) The Massachusetts House passed its sports betting bill last July. After months of inaction, the Senate finally took up the measure this month after it was passed through committee. Senators this week significantly amended House Bill 3933 before returning the statute to the lower chamber. One major difference is that …

New Jersey sports betting advertisements are flooding television and radio commercial breaks. One state lawmaker says such marketing is giving way to an increase in problem gambling. A DraftKings sports betting billboard advertises a low-risk promotional bet along a New Jersey highway. New Jersey Assemblyman Ralph Caputo is of the opinion that there are too many sports betting commercials currently being aired on television and radio. (Image: Outfront Media) Assemblyman Ralph Caputo (D-Essex) helped champion New Jersey’s sports betting bill in 2018. But the longtime gaming supporter and Atlantic City advocate believes sports betting adverts and promotional marketing have become a bit too much. This advertising, marketing, and promoting is …