The post Get A Grip — The Week In Sports Betting: Prioritizing Parlay Innovation appeared first on SportsHandle.
It’s information overload everywhere, and there’s not time enough to sleep and eat and stay fully apprised of what’s happening on this crazy blue dot of ours (two out of three ain’t bad). Here’s the weekend Sports Handle item, “Get a Grip,” recapping the week’s top U.S. sports betting headlines, highlighting some fresh news, and rounding up key stories.
Top stories around our network this week
As the world evolves, so too must sportsbook operators in the never-ending competition to attract and retain bettors.
So just as PENN Entertainment recently did with its Barstool Sportsbook, Hard Rock this week announced completion of an overhaul of its own betting platform. The Florida Seminole Tribe’s digital betting operation is now known as Hard Rock Bet, which in addition to a different look includes new features such as a “flex parlay,” which enables customers to lose one or more parlay legs but still win their bet at reduced odds and payout.
Hard Rock updated its platform in multiple states in advance of planning both to launch an online casino in New Jersey and resume sports betting operations in Florida once legal issues are finally resolved. A favorable federal appellate court ruling June 30 could clear the way for the Seminoles to relaunch as soon as late August under a compact with the state of Florida, which granted them a sports betting monopoly. Plaintiffs in the case on the losing side of that decision, however, also have potential legal avenues to pursue to delay in that.
Elsewhere on the parlay innovation front, Simplebet announced this week that its sportsbook partners will be rolling out the company’s new baseball betting feature: the same-inning parlay. This latest form of microbetting involves wagers on multiple events occurring in the same inning, a microcosm of what they have been doing with the same-game parlays that have been both increasingly popular with customers and highly profitable for operators. A same-drive parlay offering is also planned for football season.
These changes will by no means mark the end of new developments in how digital sportsbooks serve bettors this year, or perhaps even this month. Tracking such industry evolution is a key part of what Sports Handle’s staff and sites do, but it’s by no means the only thing we do, as stories below from the past week demonstrate. And for news from the broader gambling world, check out our partner site US Bets, including its weekly Double Down column and the latest Gamble On podcast.
A state may be flat, but not dull
Ohio has become the most interesting state in the sportsbook world
PlayUp gets a putdown
NJ DGE shuts down PlayUp as Aussie book struggles to remain afloat in U.S.
Some fine-tuning first in Kentucky
Kentucky emergency sports betting regs could create concern among operators
Vermont gets ready, gets set, and yet …
Vermont regulator approves latest sports wagering procedures
New option ahead in Connecticut
Connecticut moves closer to inking deal with new sports wagering partner
And more operator expansion in Arizona
Three new operators could be live in Arizona by early 2024
Now that sports betting is legal, how about …
Report: North Carolina legislators seriously considering casino expansion
Report talks about getting more responsible
Maryland report lists possible responsible gambling improvements
A risk seemingly worth taking
Bally’s online casino on the hook for any lottery shortfall in Rhode Island
When Kelces talk, do peers listen?
Media notebook: Kelce brothers sound off on fellow NFL players violating betting rules
Yes, WSOP was a very big deal
Why the World Series of Poker attracted record entries this summer
Running the numbers on revenue
Healthy June caps record fiscal year for Pennsylvania gaming industry
Ontario iGaming handle reached $14 billion CAD last quarter
One massive payout leaves MotorCity sportsbook in the red again in June
Massachusetts barely misses 10% hold for June sports wagering
Maine aims for end-of-year launch
Maine’s Gambling Control Unit sent its proposed sports betting rules to the attorney general’s office last week, meaning that wagering could go live in November. Maine lawmakers gave the state’s four tribes a monopoly when legalizing digital sports betting in May 2022. The new law will allow tribes to partner with digital sports betting operators, and the state’s two retail casinos will be allowed to offer in-person betting.
The proposed regulations were sent to the AG’s office July 14. It has 120 days to approve the rules, which would put the latest date for approval at Nov. 10. From there, the regs would be sent to the Secretary of State’s office, and once approved there, wagering could go live.
“Temporary or initial licenses will be issued on the day of adoption to allow licensees to go live and offer wagers on sports according to law and rule,” said a statement from the Gambling Control Unit.
Operator, supplier, and vendor applications are available on the Gambling Control Unit website. To date, no operators have submitted applications, though the agency says that one OTB and one supplier have applied.
— Jill R. Dorson
Tweet of the week
Lionel Messi to make his debut with @InterMiamiCF tonight.
99% of bets are on Messi to score anytime goal (+115) at @BetMGM. pic.twitter.com/8MKRcRKhbJ
— John Ewing (@johnewing) July 21, 2023
More of the most important, interesting stories
GAMBLING PAYING OFF FOR TRIBES: Indian gaming revenue hits record $41bn in 2022 [iGB North America]
KANSAS COMPETITION TO INCREASE: Kansas tribal casino sports betting compact approved, quick launch expected [KSNT]
BABY STEPS IN NEBRASKA: Nebraska’s casino racetrack tax revenue rises, but no windfall yet from sports betting [Omaha World-Herald]
DID YOU WIN POWERBALL? SOMEONE DID: California ticket wins $1 billion Powerball prize, one of largest in history [Las Vegas Review-Journal]
The search is on for the winner of $1 billion Powerball jackpot! @reevewill has more. pic.twitter.com/6iymqv2Rkk
— Good Morning America (@GMA) July 21, 2023
HAWKEYE SAYS HE’S PART OF BETTING PROBE: Senior d-lineman Noah Shannon reveals he’s involved in gambling investigation [CBS2Iowa]
SPORTS + BETTING = BIG BUSINESS: UNLV to host the “G2E of Sports Business” next year in Las Vegas [The Nevada Independent]
TAX FORMULA CHANGED, BUT MONEY’S THE SAME: Tennessee collects $4.6 million in sports gambling taxes in June [The Center Square]
NO GROWTH IN LOUISIANA REVENUE: Louisiana gaming revenue reaches $196 million in June, year-over-year drop of 2% [CDC Gaming Reports]
The post Get A Grip — The Week In Sports Betting: Prioritizing Parlay Innovation appeared first on SportsHandle.
