Last Updated Feb 25, 2022, 21:30 PM
Weekly News - 07/06/2021
THIS WEEK IN SPORTS BETTING
|Best US Sportsbooks · Weekly Update|
July 6th, 2021 Weekly Report
This week in legal sports betting news, we saw some states tank their own momentum. There is New York, sports betting news for you to peruse. Plus, we saw some developments in the Arizona sports betting front. And, Maine sports betting puts itself in the mix. Keep reading for all of the latest legal sports betting news from the past 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, bet365 bonus code or DraftKings promo code for example!
- New York Sports Betting Makes a Misstep
- Maine Sports Betting Also Has a Bumpy Road
- Arizona Sports Betting Sets Some Guidelines
STATES MAKING MOVES — NEW YORK SPORTS BETTING MAKES A MISSTEP
Looks like the New York mobile sports betting RFA preparation time has run out for the New York State Gaming Commission without hitting the mark. The New York State Gaming Commission had a deadline, July 1st, they were required to meet by law. The bidding period for online sportsbooks in the state was supposed to launch by that date.
Many sports betting proponents felt the process had plenty of time as there was a two and a half minute lead going in to that period. So, it is quite shocking that that date has come and gone without progress, as it was thought it could be met even earlier. And, even last week, it was thought that the process was on track.
Now that the deadline has passed, hopeful New York sports bettors are left scratching their heads and anticipating when the process will actually launch. Plus, these same sports betting fans are worried about how much of the NFL season will be over by the time sports betting launches in New York. However, hopeful sportsbook operators do not expect a delay. But, some have acknowledged the limited to lack of communication that they have had during the waiting period with the New York State Gaming Commission.
Now, that’s not to say that there will not be a delay or that the state will still be able to launch New York sports betting by the Super Bowl — the benchmark that had been previously set. The window was already set to be small, as the bidding process for sportsbook operators needs to be open for a full thirty days. Only then, will the New York State Gaming Commission have 150 days to choose their winning bids.
This means that even if the bidding period had been launched on schedule, it would have taken until the end of the year in late December before the commission would be forced to select their winners. But, winning bids can still be chosen earlier than the end of those 150 days. However, the missed deadline does not set these fears to rest when it comes to launching in time for Super Bowl betting.
MAINE SPORTS BETTING ALSO HAS A BUMPY ROAD
Maine sports betting has not had an easy road to legalization. It had appeared that the state legislature had approved Maine sports betting around a week ago. But, that does not mean the road will be clear for legalization in the state.
Pieces of legislation need to go through two votes in each chamber in order to move beyond the legislature in the state of Maine. Last week, LD1352, a sports betting bill, faced its second approval in the Maine state House. Then, on Thursday, the Appropriations Table, a committee that reviews bills that can either make or cost the state of Maine money, considered the bill. Next, it has to make its way back to the full Maine state Senate for a final vote.
But, considering the bill has already passed the state Senate once, it should have a clear path to approval. It is when the bill is set to go to Maine Governor Janet Mills, who vetoed a sports betting bill back in 2019, for approval that things could get rocky again. The state governor will have ten days from the time she receives the bill to sign it. However, many are hopeful that Governor Mills could have a change of heart when it comes to this Maine sports betting bill.
The 2021 sports betting bill includes some differences from the 2019 version. For instance, this iteration has tethering, which would require mobile licensees to partner with gambling outlets that are local. So, as a result, Maine’s casinos, tribes, tracks, and off-track-betting operators are on board with this bill, which differs from the one in 2019.
Plus, state Senator Louis Luchini, the bill sponsor, has reportedly been working closely with Governor Mills’ office during this whole process. And, the bill also addresses other concerns that were held previously.
Maine sports betting needs to get on the road to legislation if it is going to be able to keep up with the industry in neighboring states. The state could lose revenue to nearby New Hampshire sports betting operators. Plus, Massachusetts sports betting could also be on the horizon. And, Canada sports betting also saw movement when its single-game sports betting ban was repealed this week, also acting as an avenue for Maine sports bettors.
The Maine sports betting bill outlines a few things. The license fees are set for $100,000 for a two year period. Brick-and-mortar sportsbooks are set to be taxed at a rate of 10%. And, online sports betting is set to be taxed at a rate of 16%.
ARIZONA SPORTS BETTING SETS SOME GUIDELINES
It looks like Arizona sports betting could have one of the nicest tax rates in the country if you are a sports betting operator. On Friday, the second draft of the Arizona sports betting rules were released. The Arizona Department of Gaming has outlined its proposed tax rates as a result.
Right now, the Arizona Department of Gaming has set an 8% taxation rate on retail bets. It has also set a 10% taxation rate on mobile bets. Plus, Arizona would have an $100,000 application fee for sports betting operators and a $750,000 license fee, followed by a $150,000 annual renewal fee for operators.
Last month, Arizona regulators set September 9th as their intended goal to open the Arizona sports betting market. So, the state would be able to start taking bets prior to the state of the NFL season. This updated draft followed a public comment period as well as multiple hearings on the matter. Some sportsbook operators who are interested in the market offered their proposed changes during that time.
Now, this second draft is set to have another public hearing this coming Wednesday. Back in April 2021, after years of failed attempts, Arizona sports betting was approved in the state. So, many sports betting operators are eager to move into this new market.
WynnBET has already announced their agreement with the San Carlos Apache Tribe for their Arizona sports betting bid. This is the first tribe in Arizona to announce a partnership. Bally’s has also announced a partnership deal with the WNBA’s Phoenix Mercury team. This could be the first partnership between a women’s professional sports team and a sportsbook operator.
The Arizona sports betting law will allow for 20 sports betting licenses. These need to be split between tribal casinos and professional organizations. Some of the other partnerships that have been announced are: FanDuel and the Phoenix Suns, DraftKings and the PGA Tour’s Waste Management Open, as well as the Arizona Diamondbacks partnering with Caesars Sportsbook.
Still yet to announce partnerships are: the Arizona Coyotes, the Arizona Cardinals, as well as the Phoenix International Raceway.
Written by Allie Nelson, our US Sports Betting Industry Expert. You can learn more about our author's expertise.