Weekly News – Weekly Roundup 4/15/2022
As the NBA Playoffs kick into high gear, plenty of sports betting partnerships and at least one potential betting bill are the news of the day. Let's dive in:
Toronto Blue Jays Partner with theScore
As Ontario rolls out its commercial sports betting licenses, a number of operators in the province are attempting to cement themselves into the legal betting landscape. The Blue Jays have joined the fray in a partnership with theScore Bet, a premier sportsbook in Ontario and the rest of Canada.
This partnership will include a sizable presence at Rogers Centre, the Blue Jays' home field, and an in-person sportsbook at same. You'll soon see theScore branding on numerous banners at the retractable roof stadium, plenty of sponsored media, and more as the company makes a name for itself in the legal online betting landscape. Per Blue Jays President and CEO Mark Shapiro:
The fan experience is evolving and this monumental partnership with theScore Bet offers compelling new ways for sports enthusiasts to be a part of the game. We are excited to be partnering with a Canadian company that operates at the highest level of the industry and understands our role in Toronto and Canada, to bring baseball to more fans nationwide.Mark Shapiro, President and CEO of the Toronto Blue Jays
NHL, FanDuel, BetMGM Partner in Canada
Canada, with Ontario in focus, continues to watch a maturing online sports betting market. After releasing commercial licenses and thereby creating a competitive marketplace in April 2022, Ontario is the province at the top of the headlines. Major athletic leagues and sports betting prioviders are taking notice of the expanding Ontarian marketplace, and, seeing the forest for the trees, are moving forward with betting partnerships.
The NHL in particular has made a number of agreements with legal online sportsbooks to legitimize betting in a safe, regulated environment. The most recent of these agreements come in the form of partnerships with betting giants BetMGM and FanDuel, both operating legal sportsbooks in the US and recently making their strides in the Canadian market.
Caesars Partner with Mets
Citifield has not long been the home of the New York Mets, but they're really settling into the space, especially with the advent of the new online and in-person sports betting market.
As a part of the push towards legal betting, Caesars Sportsbook will be establishing an in-person sportsbook at Citifield in Queens, New York, as well as offering branding and other advertising as the Mets' Official Sports Betting Partner. As with the NHL in Canada, numerous sports betting providers and athletic teams/leagues are partnering up to promote legal betting and pull some money back into the regulated space.
To this day, "offshore" (read: illegal) sports betting providers have a strong share of the US market, and we're seeing these partnerships as a massive attempt for regulated iGaming providers and the states they serve to recapture revenue away from unregulated books. It seems to be working, as New York sports bettors continue to wager staggering amounts on their favorite sports.
Missouri Betting Bill Still Under Scrutiny
HB 2502 is Missouri's most recent attempt to legalize online sports betting, and it has had some recent momentum in the last month. Looking at a number of neighboring states with burgeoning sports betting landscapes, the Show-Me State wants to capture some of those revenues, but the tax rate remains an issue of debate.
HB 2502 would provide for a tax rate of 10 percent, which some lawmakers are already pushing back on. A number of other caveats of the bill remain controversial, which is why this bill hasn't pushed its way through the MO Senate just yet.
The MO Legislative session lasts until mid-May, giving the state an edge over neighboring Kansas and Kentucky whom both made attempts this year to legalize online betting (the latter, Kentucky, won't get a law on the books this year). Lawmakers and athletic teams in Missouri seem to be behind this most recent push, so there's a considerable chance that the state will legalize online betting this year-- we'll keep you posted.
Written by Chris Altman, our US sports betting industry expert.
The featured image for this post was sourced on Getty Images.
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