Last Updated May 20, 2022, 1:55 PM
Weekly News - 06/29/2021
THIS WEEK IN LEGAL SPORTS BETTING — LOUISIANA MAKES BIG MOVES
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June 29th, 2021 Weekly Report
This week in legal sports betting, New York sports betting is in the news once again. Plus, we see Connecticut sports betting take one more step toward launching, one of legal sports betting news this week.
If you want to find out more on some major topics not covered in this article you can check out the rest of VegasInsider with our exclusive BetMGM bonus code, FanDuel promo code or DraftKings promo code for example!
- New York Sports Betting News
- Connecticut Sports Betting Moves Closer to Launch
- Ohio Sports Betting Takes a Step Back
- Florida Sports Betting Could be a Ripe Market
- Louisiana Sports Betting is Almost at the Finish Line
- Canada Sports Betting Could Be a Reality Soon
BIG STATES MAKING MOVES — NEW YORK SPORTS BETTING NEWS
The state of New York is publishing its RFP details. Back in April, we saw New York Governor Andrew Cuomo sign New York online sportsbooks into law. However, ever since, there has been a sort of holding period for sportsbooks and their operators. Rumors have arised that some operators are discussing sending in joint bids together, but that is not for certain.
Luckily, this week, Thursday July 1st, is the due date that has been set for the publishing of the RFP details from the NY state regulators. So, we should have more details then. But, we do have a few details that have been released from the two rounds of Q&As that were published back in April and then updated in June.
Here are some of those details:
- There will be a minimum of two platform providers as well as four sports betting skins that will launch in the Empire State.
- When it comes to platform providers, they only need to accept as well as process any wagers. The other aspects of the sportsbook technology is able to come from the sportsbooks themselves.
- Chosen bidders will be sharing at least 50% of their revenue with the Empire State, at least according to those who have been involved with the process. All of the bidders will need to accept the highest winning revenue share proposal, otherwise their bids will be tossed out. However, it is important to note that the legislation itself calls for a tax rate minimum of 12%.
- A $25 million license fee will be required to be paid by the platform providers. If the platform provider has submitted and won multiple bids, it will be paid multiple times.
- NY mobile sports betting could be launching as early as this Fall. The hope for proponents of NY sports betting is to have it ready in time for Super Bowl betting to set a benchmark.
CONNECTICUT SPORTS BETTING MOVES CLOSER TO LAUNCH
The final sportsbook for the state of Connecticut is set to be picked! On Monday, Connecticut sports betting took a big step forward with the final selection of the last of three sportsbooks, chosen by the Connecticut Lottery.
However, the public will not know who the final winning bidder is even though they have been chosen. The public will find out when the contract has been negotiated as well as signed. There are five sportsbooks that bid for Connecticut’s last skin. A Kambi-power skin and DraftKings Sportsbook are also going to be in operation in the New England state.
As of right now, the hope is to have Connecticut sports betting launched by the Fall. It would be very aggressive to try to launch by the state of this year’s NFL betting season, however it is still a possibility.
The amended tribal gaming compacts in the state that will allow Connecticut sports betting to launch as well as the promulgating regulations and some other needed steps, still require necessary approval at the federal level.
OHIO SPORTS BETTING TAKES A STEP BACK
The hope to get Ohio sports betting approved before the summer legislative break has been dashed. It has become clear that an Ohio sports betting bill will not be able to pass before the June 30th deadline this week. The bill, HB 29, was amended on Thursday, with name, image, and likeness language added as well as sports betting language too.
The Ohio sports betting language that has been proposed contained a few alterations from SB 176. SB 176 has been sent to the House last week but unfortunately has not seen any action in the committee. One change of note means that casinos would no longer be prohibited from hosting sportsbooks in the cities of Cincinnati and Cleveland, if the cities’ respective sports teams decide that they want to operate retail Ohio sports betting.
Unfortunately, the House Speaker for Ohio’s state House, Bob Cupp, indicated that HB 29 would not be getting a hearing prior to the summer legislative break. And, that means that Ohio sports betting could potentially be delayed by another year, to summer 2022, or even later.
FLORIDA SPORTS BETTING COULD BE A RIPE MARKET
Two of the largest sports betting stalwarts in the US legal sports betting market are backing a Florida sports betting referendum. Both DraftKings as well as FanDuel are hoping to move in to the Florida market and are hoping for this Florida sports betting legalization. There is a ballot initiative that would allow Florida voters the ability to legalize Florida mobile sports betting. And, DraftKings and FanDuel have both thrown their support behind it.
After an amended gaming compact with the Seminole Tribe passed back in May, Florida sports betting is now pending federal approval. Both the DraftKings Sportsbook as well as the FanDuel Sportsbook could potentially work out deals with the Seminole Tribe to launch on the Hard Rock Digital platform. This would be an alternative to both sportsbooks running their own operations in the state.
This Florida sports betting referendum would need to be passed by a vote of 60% in order to be approved.
LOUISIANA SPORTS BETTING IS ALMOST AT THE FINISH LINE
The final Louisiana sports betting bills have finally been signed! These final parts of Louisiana sports betting legislation were signed last week into law by Louisiana Governor John Bel Edwards. These last pieces of legislation were the appropriations as well as the regulatory bills for wagering. This was after the signing of the legislation that outlined the Louisiana sports betting tax structure.
In 55 of Louisiana’s 64 parishes, their version of counties, voters had approved sports betting in a vote back in November 2020. This means that Louisiana sports betting is one step closer to launching in the state!
CANADA SPORTS BETTING COULD BE A REALITY SOON
Finally, a bill that allows for single-game sports betting when it comes to Canada sports betting was passed in Parliament. After the Senate has passed the bill by a vote of 57-20, the bill, C-218, is now moving to the Governor General to become law in the land. That is happening today.
Score Media & Gaming, the operator of theScore Bet sportsbook, is looking to move in to the Canada sports betting market. Plus, some of the largest sports betting operators in the United States are also eyeing that market too.
Written by Allie Nelson, our US Sports Betting Industry Expert. You can learn more about our author's expertise.