SportsHandle: That was the year that was in US sports betting

SportsHandle and friends take a look back at what’s been a challenging year to bring you the main headlines that dominated the US sports betting sector.

Exclusive: DraftKings And $3 Million Parlay Bettor Battling Over Frozen Funds

A Florida bettor who placed a highly publicized $3 million parlay wager is considering legal action against DraftKings after the company froze the customer’s New Jersey mobile sports betting account late last month, Sports Handle has learned.

The patron dispute carries widespread ramifications for the emerging U.S. sports betting industry, while calling into question how often top sportsbooks engage in selective enforcement regarding the practice of messenger betting. The dispute could also shed light on whether major sportsbooks are operating in a gray area by condoning a practice that may run afoul of numerous federal and state laws. Messenger betting, while difficult to enforce, occurs when an out-of-state bettor transmits information through a proxy, instructing the proxy to place a wager in another jurisdiction, typically one with legalized gambling.

Full story here

Offshore Sportsbook 5Dimes Is Shutting Down To U.S. Customers, Eyeing Rebirth In States

In what proponents of legal U.S. sports betting would consider a victory, popular offshore sportsbook 5Dimes announced early Sunday evening that it will suspend U.S. operations at midnight Sept. 21 in order to “take advantage of the opportunity to offer an improved online sports betting experience to our many U.S. customers.”

The notice sent to customers referenced the “evolving legal landscape in the U.S.,” suggesting that it will relaunch as a legal entity in some/certain sports betting states in the U.S. The company did not specify how it may accomplish a transition from operating illegally outside of the U.S. — to legal operator in a U.S. jurisdiction(s) in some capacity.

Full story here

Making Sense Of DraftKings’ Multi-Billion Dollar Valuation

Sporting a pencil-thin mustache and a quarantine beard, much like thousands of millennial sports bettors during the global pandemic, Jason Robins took part in a virtual opening bell-ringing ceremony on the morning of April 24 to toast DraftKings’ entry into the public market.

Since then, DraftKings has embarked on a meteoric rise, skyrocketing from just over $20 to $40 a share in recent sessions. A sizzling start, in which DraftKings’ shares have more than doubled since its April debut, augurs well not only for the company’s long-term viability but for publicly traded sports betting stocks in general.

Full story here.

Pro Gamblers Accuse NV Bookmaker Of ‘Cheating’ On In-Game Bets

Is a leading sportsbook in the U.S., a dominant player in the Nevada market, creating an unfair advantage against some customers? Some gamblers say the book is “cheating,” while others say the problem might not reach that threshold. It’s a complex situation that impacts the sports betting industry broadly.

William Hill US has been accused by at least two prominent sports bettors of intentionally delaying the acceptance of in-game wagers in the Silver State, depending on if the wager is good or bad for the book. In other words, they’re saying it’s allegedly not a technology shortcoming, but a deliberate attempt by the book to boost its winning percentage against gamblers.

Full story here.

PointsBet’s Deal With NBCUniversal Widely Viewed As A Game Changer For Sports Betting Market

PointsBet USA CEO Johnny Aitken arrived in New Jersey in 2018, following the Supreme Court’s landmark PASPA case, as a relative outsider.

Immediately, Aitken was forced to navigate through shark-infested waters that characterized the hotly competitive U.S. sports betting market, one dominated by mega casino corporations such as MGM Resorts International and Caesars Entertainment, along with DraftKings and FanDuel, two heavyweights on the DFS side.

Full story here.

After Long Delay, Tennessee Launches Sportsbooks — DraftKings, FanDuel, BetMGM, TN Action 24/7

After many months of delays, Tennessee has cleared the final hurdle to bring legal and regulated sports wagering products to its residents and visitors aged 21 and over.

Shortly after midnight on Sunday, three sportsbooks took their first wagers in the Volunteer State. DraftKings, FanDuel, and BetMGM, top sports betting brands in the nascent U.S. sports wagering space, all took their first wagers in the early morning hours. The launches came ahead of an NFL Sunday when the Tennessee Titans were set to square off against the Cincinnati Bengals. The books hit the ground running.

Full story here.

Will Barstool Sportsbook — Now Live In One State — Become A National Powerhouse?

The Barstool era of legal U.S. sports betting, in which people who call themselves “El Presidente” and “Big Cat” and “Marty Mush” stand as avatars of regulated gaming, has arrived. Penn National’s Barstool Sportsbook launched on the web and in the App Store on Friday for customers in Pennsylvania, to much hype and fanfare — and apparently, many downloads.

According to data from Sensor Tower, the Barstool Sportsbook app had 63,000 downloads in its first weekend, peaking Saturday with 23,000 downloads.

Full story here.

Las Vegas Casinos On The Verge Of Re-Closing After Barely A Month

The experts have been saying all along that a second wave of COVID-19 is coming, and in the United States they’re being proven right.

(Unless you subscribe to the belief that what’s happening now doesn’t count as a second wave because the first wave never ended.)

In the casino industry, a second wave is also beginning to hit. Properties across the country shut down — some voluntarily, most by order of their state governments — in the second half of March and have reopened region by region in May, June, and early July, with 831 of 989 casinos welcoming customers at latest check. Now it’s time, unfortunately, for the second wave of casino closures to begin.

Full story here.

Latest posts