We have all your betting news as the sports betting industry in the United States continues to grow and evolve. However, there are other states that can’t quite get a bill passed. This industry also tends to be in the news at all times, and there are usually some big stories every single week.
The last few days have proven to be disappointing for a pair of states, but two major sports betting companies made a major announcement. Here is a look at four of the biggest sports betting stories that have come out over the last few days.
Sports Betting Bill Dead in Texas
The state of Texas could become a giant in the U.S. sports betting industry, but there is still a major problem. The Texas Senate is not willing to give sports betting a serious look, and that was the case yet again this year.
House Bill 1942 was approved by the House of Representatives in Texas, and that sent the bill to the Texas Senate. Lieutenant Governor Dan Patrick wasted little time in shooting down the bill as he announced that it wouldn’t even come up for an official vote.
Patrick has long been an opponent of legal sports betting, and a majority of his fellow senators feel the same way. This bill from the House would have legalized online sports betting, and it would have created an impressive market. This betting news didn’t sit well with those we know living in Texas.
Professional sports teams in Texas have been pushing to get the industry passed, and a coalition of major operators have tried to do the same. With this most recent bill failing, sports betting isn’t going to become a legal option in Texas until 2025 at the earliest.
Texas is also a state that doesn’t currently have any legal casinos. Approving a casino gambling bill might be needed before sports betting is discussed.
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Missouri Senator Shoots Down Sports – Betting News
Missouri is another state that has been trying to legalize sports betting for the last few years. But the effort once again fell short. There seemed to be more optimism this time around. However, one Senator was able to shut down the attempt again this year.
Senator Denny Hoskins is in favor of legalizing sports betting. But only if a bill is tied to legalizing video lottery terminal machines. Hoskins seems to be the only Senator that has that belief. He has been able to convince other senators to vote right along with him.
The professional sports teams in Missouri are getting frustrated with another failed attempt. They could be looking for a new route towards legalization. There is a chance for these teams to collect signatures from state residents to get a referendum placed on the ballot.
This couldn’t happen until 2024 though. Lawmakers in the state are expected to try again next year as well. Hoskins will continue to push for the legalization of the VLTs. There will be a large portion of lawmakers that are in favor of sports betting. It seems crazy we’re still talking about those pushing single game wagering away. Betting news continues to ride these stories.
Missouri is now completely surrounded by states with sports betting, and that puts even more pressure on lawmakers in the state to get something done. Residents that want to place bets are leaving Missouri to head across the border, and other states are cashing in.
Fanatics Set to Purchase PointsBet
Fanatics Betting and Gaming is set to take a huge step in the sports betting industry as it has finally come to an agreement with PointsBet. The deal is worth $150 million. Fanatics will be taking over the U.S. assets of PointsBet, which was once a thriving company.
PointsBet had been looking for a bidder to take over its assets. Rumors of this deal had been swirling for weeks. No one knew the company that was set to make the acquisition. But it was Fanatics that made a big move.
Fanatics is looking to break into more states with legal sports betting throughout the country. This looks like the deal will give them that opportunity. PointsBet is going to continue to operate in both Canada and Australia. However, it was willing to give up some control in the United States.
This deal should allow Fanatics to enter into the state of New York. It’s known that market is easily the biggest in the United States. Fanatics is looking to launch in both Massachusetts and Maryland over the next few months. This deal will provide plenty of momentum.
Fanatics paid much less than expected with the $150 million price tag, and it’s the first major deal of its kind since April 2021. Caesars Entertainment acquired William Hill in a similar deal over two years ago, and that shook up the U.S. sports betting industry.
More Betting News – BallyBet Partners With Kambi
Bally’s made a major announcement last week as the company is now working with Kambi and White Hat. The BallyBet sports betting app will soon be powered by Kambi. The player account management system will be operated by White Hat.
Kambi is a popular technology provider in the online gambling industry. It’s one that has been used by several other big names. This was a surprise announcement from Bally’s though as the company has always been strict about using it’s own technology.
There were several reasons for agreeing to deal with these third parties. While saving money was at the forefront of that decision. Bally’s could also be looking to break into the international online gambling market. It seems Kambi will give them a chance to get that done.
BallyBet is currently only available in six states, but that should grow to seven states by the end of 2023. Kambi will immediately start to provide the technology to the BallyBet online sports betting app.
Most of the money that Bally’s makes is coming from the online casino gambling industry. That’s a trend that many other companies see at well. Customers that use the BallyBet online sports betting app will soon recognize some minor changes that should provide a much better overall experience.
