Sports Betting Industry News & Market Updates

The Massachusetts Gaming Commission (MGC) has fined FanDuel $10,000 for accepting $11 in improper wagers involving in-state men’s college basketball teams. It is the latest example of the MGC punishing even the most minor infractions among sports betting operators.

Bovada placed Arizona on its restricted access list after a cease-and-desist letter, making it the seventeenth US market where the operator is banned. The move continues a trend of Bovada pulling out of markets instead of risking legal action.

Discussions have begun about raising the tax rate on sports betting operators in Maryland as the state looks for a solution to its $2.7 billion deficit. Tax revenue from the industry goes towards the state’s education system, which is also driving the deficit.

Arizona will open the application process for two of the state’s available sports betting licenses, with one reserved for a tribe and the other for a pro sports team. The application window will not officially open until July 8.

Sports betting Amendment 2 is currently undergoing a recount after narrowly passing in Missouri earlier this month, but early reports are the proposal is safe. That state will need to launch a sports betting market by December 1, 2025.

The Colorado Department of Revenue reported a massive $601 million handle for the month of October, though overall revenue dropped by over 16% compared to September. The success was primarily driven by the NFL and NBA, which accounted for over half of all wagers.

A report by the New York State Gaming Commission showed that sports betting revenue surpassed $52 million for the fourth straight week as of November 17. The record came despite the handle dipping below $500 million for the first time since early October.

GeoComply has reported that over 42,000 GPS checks came from the state of Georgia on Sunday alone, despite the industry remaining illegal. That number is over 100% higher than last year, with over 7,800 accounts trying to place wagers.

Legendz launched its social sportsbook in 43 states on Monday, returning to the country after being banned for running one of the country’s largest illegal platforms. The new platform's lack of real-money wagers allows it to work outside of US sports betting regulations.

The Massachusetts Gaming Commission (MGC) held a seven-hour hearing with DraftKings officials over accepting wagers coming from credit card deposits. The operator claims those deposits were made in other states, meaning they did not violate Massachusetts law.