The Week In Sports Betting: Iowa Standing In The On-Deck Circle

Hello, ladies and gents, and welcome to another Monday look-back at recent sports betting news.

Good news for both of us this week: There's not a ton to cover. What we do have is important, though, headlined by a new state preparing to open a region to the wonders of legal sports betting.

Before we begin: Don't forget about the award-deserving LSR Podcast, which essentially acts as an audio companion to this written recap. Host Matt Brown and some “stooges” talked through all of what you're about to read, plus sundry other topical tidbits from the week that was. Listen:

Listen to “LSR Podcast Ep.19 – The Race for New Betting States to Launch Before Football, Plus New PA Developments” on Spreaker.

Iowa all set for sports betting

Barring any setbacks, Iowa will be the first state in the Midwest to roll out regulated sports betting. The Iowa Racing and Gaming Commission plans to give the go-ahead at noon Thursday with up to nine sportsbooks ready at launch. That would make it the grandest opening so far in the US.

And unlike any state before it, Iowa sports betting might be mobile-ready from day one.

Regulators say at least one operators — William Hill — could roll out online platforms in tandem with their brick-and-mortar sportsbooks. William Hill has four casino partners in the competitive market.

Launching barely three months after the law passed and in time for football season would be an impressive feat.

The commission also hopes to allow required in-person registration for prospective bettors to begin prior to Thursday. That sign-up stipulation remains in place through 2020, after which new bettors will be able to navigate the process remotely.

New York to study sports betting

A regulatory decision Monday in New York will go a long way toward determining the future of sports betting in the state.

The NYS Gaming Commission is set to award the contract to match its June request for in-depth market analysis. Sports betting will be the focus, with researchers tasked with weighing various options for implementation. Sen. Joseph Addabbo told LSR that four companies submitted bids before the July 31 deadline.

Lawmakers already heard on-the-record testimony from analysts like Eilers & Krejcik Gaming, which forecast NY sports betting as a billion-dollar industry — if it includes online betting. And a year of hard evidence from New Jersey demonstrates the importance of mobile betting to the bottom line.

The winning bidder has until the end of the year to submit its research to the commission.

North Carolina sports betting update

Persistent North Carolina has a streak of appearances in this recap that dates back to early July, a run which hereby extends. The Tar Heel State is the newest one with legalized sports betting after Gov. Roy Cooper signed a tribal bill into law last month.

Now, the legislature is considering a second bill that could set the stage for statewide, state-regulated sports betting. Like their colleagues in New York, policymakers in North Carolina are keen on studying the potential for mobile betting and other forms of expanded gambling.

The activity log for S 574 doesn't look encouraging, but the sponsor tells LSR not to worry.

Rep. Henry Warren says he only asked the Senate to reject House amendments in order to make a small technical correction. According to Warren, the final bill should emerge from the conference with momentum this week.

Takes and tidbits

There are a couple of other crumbs worth sweeping up. Here's what else we wrote about this week in sports betting:

• Penn's states: If you're wondering what the Penn National deal means for sports betting in your neighborhood, we got you, fam. The first evidence of the new partnerships should appear imminently in Iowa and could shake up as many as eight markets this year.
• Nevada entities: The Securities and Exchange Commission is once again investigating a legal Nevada sports betting entity for criminal conduct. A gap between state and federal law leaves Bettor Investments in violation of multiple fraud and insider trading statutes, according to the SEC.
• PA SugarContest: The company behind SugarHouse Sportsbook and Bet Rivers Sportsbook is preparing to run the first legal NFL gambling contest in PA. The inaugural Pennsylvania Pick'em game costs a modest $150 to enter and pays out at least $500,000 this season.
• NFL betting reminder: Speaking of football betting, the NFL recently distributed a memo to team and league personnel to reiterate its policies related to gambling. The rules do not allow players and staff to bet on NFL games or even visit a sportsbook during the season.
• See you in court: Casino giant MGM Resorts is taking the federal government to court over its handling of tribal compacts in Connecticut. The state legislature recently moved to give the tribes full control of online gambling (including sports betting), and MGM is pushing back against monopolized expansion.

That's the rundown for now, but keep an eye on this site for updates throughout this brand new week — including the launch of Iowa sports betting on Thursday. Have a happy Monday, y'all.

The post The Week In Sports Betting: Iowa Standing In The On-Deck Circle appeared first on Legal Sports Report.

Original source: https://www.legalsportsreport.com/35132/sports-betting-news-august-12/

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