Resorts World Bet will soon be out of the New York online sports betting market after the company announced its plans to withdraw at the end of June.
The Genting Group-owned sportsbook was one of the original nine sportsbooks that launched when the New York online sports betting market opened in January 2022.
Despite its tenure, the platform failed to attract an audience against stiff competition in the nation’s most competitive market.
Louisiana lawmakers have sent legislation that hikes the state’s sports betting tax rate to Gov. Jeff Landry, who is expected to sign the measure into law.
House Bill 639 received overwhelming approval from both sides of the Louisiana State Legislature. It first passed the House 74-16 in May before the Senate approved it by a 35-3 vote on Sunday.
The legislation, sponsored by Rep. Neil Riser (R-20), raises the tax rate on Louisiana sports betting from 15% to 21.5%.
New York’s nation-leading sports betting market set a new record for monthly revenue total with nearly a quarter of a billion dollars in May.
The New York Gaming Commission reported $248.9 million in sports betting revenue for the 31-day period, edging the previous record of $247 million from January. That’s despite handle falling 10.8% from January ($2.5 billion) to May ($2.2 billion).
The comeback kids are alive and well after Game 1 of the NBA Finals thanks to Tyrese Haliburton.
The Indiana Pacers, who would become the biggest underdogs to ever win the NBA Finals if they win three of the next six games, stunned the Oklahoma City Thunder as 9.5-point underdogs with yet another against-all-odds victory in the series opener. Haliburton sealed the deal with a pull-up jumper with 0.3 seconds remaining after the Pacers trailed by as many as 15 points in the fourth quarter of the road matchup.
It was the only time the Pacers led during the entire game.
FanDuel sportsbook has confirmed it has banned a bettor who won $2,500 in parlays after heckling Olympic Gold Medalist Gabby Thomas last weekend.
The bettor, known as "Mr. 100k A Day" online, “followed [her] around the track” and was “shouting personal insults,” Thomas posted Monday on her social media account.
Thomas lost the 200-meter race even though she was a -900 favorite to win.
The Rhode Island Senate will soon vote on two bills that would close the state’s sports betting monopoly and increase punishments against illegal gamblers.
The Rhode Island Current reported that passage of the sports betting bill would lead to International Game Technology PLC losing its exclusive hold over Rhode Island sports betting it has enjoyed since 2019. The bill, if approved, would allow external operators to enter the market once IGT’s contract expires in November 2026.
Virginia’s sports betting market is still on an upward trajectory.
The Virginia Lottery’s April revenue report showed the state accepted $609.7 million in wagers, 8% higher than the $563.5 million a year ago.
Adjusted gross revenue was $56.1 million, a 2.8% increase year-over-year.
Illinois sports betting operators are going to have to deal with an unexpected tax hike in the Land of Lincoln.
The Illinois state government approved a budget plan late Saturday that changes the tax structure on sports betting from a percent on total wagers to a per-bet tax on every wager.
The tax will hit the largest sports betting operators, DraftKings and FanDuel, the hardest since they accept the most bets in Illinois.
Most states have or are vying for greater regulation over sports betting platforms. Indiana is taking the opposite approach.
The Indiana Gaming Commission recently announced that effective July 1, hundreds of companies connected to the state’s sports betting marketplace won’t need to obtain licensing to offer their services.
Even the thrills of the NBA playoffs haven’t managed to whet the appetite of sports bettors.
Gaming research firm Eilers & Krejcik Gaming found that the NBA’s total betting handle decreased about 10% year-over-year, according to data from online sportsbooks in Colorado, Illinois, Maryland, Nevada, New Jersey, and Oregon.
Despite the waning interest, revenue was slightly up 1% during the same time.