Sports Betting Industry News & Market Updates

Governor Wes Moore signed the state’s new budget into law, which raises the tax rate for online sports betting operators from 15% to 20%. This is a far smaller hike after Moore’s initial proposal called for the rate to double to 30%.

The North Carolina House released a budget that did not include a tax hike for sportsbook operators, rejecting a Senate proposal to double it. Both sides want to increase funding for UNC-system schools, but disagree on how.

The Tennessee Sports Wagering Council sent a cease-and-desist letter to offshore sportsbook BetOnline as part of a wider effort to protect its regulated market. The sports betting regulator has also contacted the CFTC to shut down sports prediction markets.

The Missouri Gaming Commission has announced that the state’s sports betting market will launch on December 1 as operators begin applying for licenses. That date is also the deadline for when the market must go live, leaving little room for error.

A new Ohio Senate bill proposes imposing a 2% privilege tax on the sports betting handle of all operators in the state to boost the industry's tax revenue. The bill is being seen as an alternative to a massive tax hike.

Penn Entertainment has sent a letter to investors, firing back at HG Vora, who has accused leadership of being self-serving. The letter outlines the company's plans for iGaming and ESPN Bet and argues that HG Vora has alternative motives.

Missouri has officially opened the application period for sports betting operators to apply for licenses before the new market launches. A total of 19 retail and 21 mobile licenses will be available, and the market is set to launch by December 1.

One of Penn Entertainment’s largest shareholders has called for a change in leadership just days after CEO Jay Snowden hosted an optimistic earnings call. The infighting is over the future of ESPN Bet, which has yet to live up to Snowden’s projections.

The NCAA may end its ban on pro sports betting amid concerns over rises in problem gambling and betting scandals involving coaches and athletes. The Division 1 council is currently considering the change and could make a decision within the next month.

The Oklahoma Senate could not conduct a floor vote for a pair of sports betting bills before the legislative session ended this week. However, the Senate could bring the bills back up for a vote in the 2026 session, which starts in February.