Oklahoma Tribes Prepare for Another Attempt at Sports Betting

Oklahoma – one of 11 states that has not legalized sports betting – could put the controversial topic back on the docket in the near future.

Matthew Morgan, chairman of the Oklahoma Indian Gaming Association, said while speaking at the group’s annual conference in Oklahoma City that he believed there was a positive future for the group. However, he also said it wasn't a secret that tribes and state officials haven’t always seen eye-to-eye.

Circa Applies for Untethered Missouri Sports Betting License

Circa Sports is joining FanDuel and DraftKings in pursuit of an untethered sports betting license in Missouri.

The problem? There are only two of these licenses up for grabs ahead of the state’s market launch on Dec. 1.

Untethered licenses do not require sportsbooks to be associated with a casino or professional sports team. Which means operators don’t have to split their revenue or resources with land-based partners.

Tennessee Issues $250K in Fines to Offshore Sportsbooks

Five offshore sportsbooks have been fined $50,000 each by Tennessee gaming regulators.

The penalties were issued to BetAnySports, BetOnline, Bookmaker, Everygame, and JazzSports, the Tennessee Sports Wagering Council announced this week.

BetOnline had been ordered in May to shutter its operations in Tennessee, while the other four platforms operated in the state without acquiring the proper licensing, regulators said.

Tennessee is one of several states that has stepped up enforcement of its gaming rules by targeting nefarious operators.

Indiana Sports Betting Up 17% YoY in June

Indiana’s sports betting market has continued to show promising signs of growth despite being one of the first state markets to open in the US.

Indiana retail and online sportsbooks generated $351.1 million in wagers and $45.3 million in adjusted gaming revenue in June, according to the Indiana Gaming Commission.

The handle represented a significant 17.7% year-over-year increase, while revenue surged a resounding 48.7%.

FanDuel Applies for Standalone Missouri Sports Betting License

FanDuel has made a bid to join the Missouri sports betting market that is launching later this year.

The largest sportsbook in the country, which enjoys 43% of the US sports betting market, is seeking one of the two untethered licenses available in Missouri.

FanDuel joins its closest competitor, DraftKings (22% of US market), in applying for the standalone licenses ahead of the July 15 deadline.

Flutter Purchases Final 5% Stake in FanDuel from Boyd

Flutter Entertainment reached an agreement with Boyd Gaming Corporation to purchase the remaining 5% of FanDuel for about $1.8 billion.

The deal will put Dublin-based Flutter back in full control of FanDuel, the leading sports betting provider in America. The $1.8 billion fee also gives FanDuel an estimated total valuation of $31 billion.

Boyd said the transaction provided it with “tremendous unrealized value” from its initial investment, which came in 2018. The deal is expected to close in the third quarter.

San Diego State to Launch Institute on Sports Betting and Gaming

San Diego State University announced this week the launch of a sports betting-focused academy.

The Institute on Sports Wagering and Gaming will fall under the school’s L. Robert Payne School of Hospitality and Tourism Management. It will involve several aspects of sports betting, including education, engagement, regulation, research, and behavior.

NV Lawmaker Seeks to Override Trump Bill's Gambling Loss Limits

U.S. Rep. Dina Titus (D-NV) on Monday introduced a bill to counter the gambling deduction limits in President Donald Trump’s “Big Beautiful Bill.”

The proposal, known as the Fair Accounting for Income Realized from Betting Earnings Taxation (FAIR BET Act), would restore the 100% allowance for gambling loss deductions on federal taxes. While that was standard in America, Trump’s new law lowered the amount to 90%.

The bill aligns with the fears of many professional gamblers and enthusiasts who feared that the change would make gambling unsustainable economically.