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Super Bowl LVIII will be played on Sunday, February 11, in the gambling capital of the world, Las Vegas. But the big game will feature just three commercials promoting sports betting. The Vince Lombardi Trophy, awarded annually to the winners of the Super Bowl, stands in front of the Welcome to Fabulous Las Vegas sign on the southern end of the Strip. Super Bowl LVIII will go down from Las Vegas’ Allegiant Stadium on Feb. 11, 2024. (Image: NFL) With the cost of a 30-second commercial at about $7 million, only FanDuel and BetMGM are wagering on getting a return on a Super Bowl advert. NFL executives revealed this week …

On Sunday, the Kansas City Chiefs and San Francisco 49ers clinched spots in Super Bowl LVIII. The big game could break records for room rates on the Las Vegas Strip, according to one analyst. The Welcome to Las Vegas sign. Hotel rates on the Strip could set records during Super Bowl weekend. (Image: Shutterstock) While acknowledging that comparisons between the 2023 Super Bowl in Phoenix and this year’s iteration of the game in Sin City are tough, Truist Securities analyst Barry Jonas pointed out in a new report that Las Vegas Strip hotel room prices are currently averaging $800 per night at Caesars Entertainment (NASDAQ: CZR) and MGM Resorts International …

On Wednesday, reports surfaced that Barstool Sports and DraftKings (NASDAQ: DKNG) are in advanced talks regarding a marketing agreement. Kevin Hart in a DraftKings commercial. The company’s potential partnership with Barstool Sports could disrupt rivals. (Image: DraftKings) While the partnership — which could be announced soon after the Super Bowl — is expected to be basic, it amounts to Barstool founder David Portnoy and his crew rejoining the sports betting landscape with an avenue to profit. It is doing so with one of the largest online sportsbook operators. The combination of Portnoy’s ability to connect with younger bettors and DraftKings’ enviable brand recognition could also prove potent. Those could be …

A proposed bill to legalize sports wagering in Missouri will begin winding its way through the state legislature this week. A highway sign welcomes visitors to Missouri. A state legislative committee this week will begin considering legislation to legalize sports betting. (Image: Creative Commons.) On Tuesday, the Missouri House Special Committee on Public Policy will convene a hearing on the legislation, HB 2331, sponsored by Rep. Dan Houx (R-Warrensburg). The legislation is one of several ongoing efforts to bring sports wagering to Missouri, one of just a dozen states where it remains illegal. The bill would allow the Show Me State’s 13 riverboat casinos to begin accepting sports bets and …

The Macau government has announced the termination of its contract with the Macau Jockey Club (MJC), effectively ending horse racing in the gambling hub. Macau’s Taipa Racecourse, pictured, will be returned to the government and repurposed once racing ceases for good at the end of March this year. (Image: Sky Racing World) Secretary for Administration and Justice Cheong Weng Chon told reporters this week the termination was by mutual consent and would be effective as of April 1. The Macau Horse Racing Company, which runs MJC, has been experiencing financial difficulties since the pandemic. It asked the government to be freed from the contract last year. Cheong cited the “impossibility …

Florida lawmakers are doubling on proposals to use sports betting money to expand environmental projects further. The 2024 legislative session began with bills to benefit parks and waterways in the Sunshine State. A “Welcome to Florida” sign greets travelers to the state.  (Image: Katherine Welles/Adobe Stock Images) Rep. Vern Buchanan (R-Sarasota) introduced House Bill 1417, which is focused on spending most of the revenue from gambling. Senate Bill 1638, introduced by Sen. Travis Hutson (R – 7th District), specified funding for environmental management and protections, including research. Florida’s Senate President Kathleen Passidimo (R-Naples) told Senators in her opening remarks she supports gambling revenue to fund land acquisition and conservation. Using …

NCAA President Charlie Baker used his “State of College Sports” address at the NCAA Convention in Phoenix this week to highlight the ongoing critical importance of protecting student-athletes against rogue sports bettors. NCAA President Charlie Baker delivers his “State of College Sports” address on Thursday, Jan. 11, 2024. Baker says the organization is committed to protecting players from sports betting influences. (Image: NCAA) Sports betting is legal in almost 40 states. While Baker has acknowledged that the expansion of regulated sportsbooks in the US has been beneficial for collegiate sports, the former Massachusetts governor who signed the state’s sports betting bill into law says the organization must continue to implement …

On the second day of the 2024 legislative session, Georgia State Senators began another attempt to legalize sports betting. Georgia House lawmakers throw paper at the conclusion of their 2023 legislative session on March 29, 2023. Georgia sports betting didn’t find adequate support in the General Assembly last year, but lawmakers are expected to take up the issue again in 2024. (Image: AP) The Senate Regulated Industries Committee advanced Senate Bill 172 by an 8-4 vote. The measure now goes to the full Senate for more debate. SB 172 would allow sports betting in the Peach State with the aid of a constitutional amendment and set up a gaming commission …

A strong November by U.S. sports bettors could weigh on DraftKings’ (NASDAQ: DKNG) fourth-quarter results, according to Benchmark analyst Mike Hickey. Employees at DraftKings headquarters. An analyst said the operator’s fourth-quarter results could be hampered by reduced hold in November. (Image: CNBC) In a note to clients today, Hickey wrote that favorable results for bettors in the 11th month of the year may have sapped DraftKings’ hold percentage by 150 basis points (1.5%). If accurate, that reduced hold rate could weigh on the operator’s fourth-quarter revenue and adjusted earnings before, interest, taxes, depreciation, and amortization (EBITDA) by $50 million and $35 million, respectively. The analyst based that assumption on DraftKings’ …

Sports Information Services (SIS), the racing industry content giant, quietly withdrew its greyhound simulcast operations from the U.S. market at the end of last year. The company had provided thousands of races a year to U.S. operators from tracks in the UK. Greyhound racing at Wheeling Island, above, which is one of just two remaining tracks in the U.S. hosting live races. (Image: The Intermountain) SIS is jointly owned by some of the biggest players in the UK betting industry, including William Hill, 888, Betfred, and Entain, the latter the largest shareholder with a 23% stake. Through its joint venture with Arena Racing, Entain owns nine of the 20 licensed …