This Week in Gambling

This week we have online gambling news from Massachusetts, where mobile sports betting violations abound! Plus, more online betting news from Ohio, where the fines are flying. And then sports betting news from New York, where the operators are starting to push back!   Hello my friends! And thank you for streaming another edition of This Week in Gambling, as online betting continues to sweep across the country. But with more money comes more problems… I think they even wrote a song about that! First up, we told you back in January about the new gambling records, and now the…

When sports betting in New York was passed with a 51% tax rate, we knew it would lead to problems. Now, both DraftKings and FanDuel New York are saying they could abandon the market if that tax rate isn’t lowered to something more realistic. The CEO of DraftKings, Jason Robins, described the situation as “unsustainable” while speaking at a recent joint legislative hearing. He pointed out that while the tax rate is already the highest in the nation, it’s even worse than it appears since fees and licensing make the state’s effective tax more than 70%. The President of FanDuel,…

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What’s it been? Like, a couple of weeks? And right out of the game, we’ve got violations of Massachusetts sports betting regulations from several casinos! Well, it’s nice to see things off and running so quickly. The Massachusetts Gaming Commission says that since regulated wagers went live on January 31st, there have been three casinos within the state which have run afoul of the state ban for betting on in-state college games. First, Encore Boston Harbor was found to be accepting wagers on Boston College women’s basketball games. The, Plainridge Park casino was found to have taken bets on a…

Sports betting has only been up and running in the state since January 1st, but already we’ve seen huge fines for DraftKings and Barstool Sports in Ohio. All together, the Ohio Casino Control Commission has collected $900,000 in fines just this year for a variety of violations. First, the fines for DraftKings stem from a direct mail campaign in the state which ended up being sent to some young adults under the legal gambling age. It seems that some of those on the list were not yet 21 years old. There were also violations for not including a problem gambling…

Last year, commercial US gambling was able to top $60 billion for the first time ever. That shatters the previous figure of $53 billion set just a year earlier. The information was accumulated and reported by the Commercial Gaming Revenue Tracking at the American Gaming Association. The actual total for 2023 was $60.4 billion, which came largely from sports betting and online gambling. Both sectors reported single-quarter highs, However, land based gambling at casinos, poker rooms, and sports books still accounted for over 80% of the total revenue. While it’s encouraging to see online games continue to grow as a…