LegalSportsBetting Brief: NJ Nears LegalSportsBetting Brief: NJ Sets New Record For Monthly Handle 12/15/2020B Monthly Handle 12/15/2020

Connecticut looks favorable for sports betting legalization in 2021 while Oklahoma does not.
New Jersey and Indiana both set records for handle in the month of November.
Tipico Sportsbook launched its first US application in New Jersey and Michigan approved 15 operators for mobile sportsbooks in 2021.
Disney’s ESPN+ will now feature more sports betting content and Daily Fantasy Sports (DFS) news within the streaming service.
XLMedia bought out websites to boost their sports wagering presence in the US.

TRENTON, N.J. – The sports betting world continues to have plenty of action with both legislative news and players within the greater industry making moves.

In Connecticut, legalizing sports wagering in 2021 looks to be a sure thing while the Tribes in Oklahoma are apathetic to any legislation for legal sportsbooks in the upcoming session.

Meanwhile, New Jersey has posted a new national record in November for handle with $931.6 million and Indiana had a state record for the month in bets placed with $250,872,627.

Global sportsbook Tipico opened their first US platform in New Jersey and Michigan approved 15 operators for mobile sportsbooks that are slated to open in 2021.

On the media end of things, Disney has decided to incorporate sports wagering and fantasy sports broadcasts into their ESPN+ streaming service and XLMedia purchased numerous sports websites as the popularity and legalities of gambling on sports continue to rise in the nation.

CT Governor & Tribes Hot On Legal Sports Betting In 2021 While OK Tribes Are Lukewarm On It

Connecticut Governor Ned Lamont is now in favor of legalizing sports betting in the state and having the Tribes run the industry.

Not only is Lamont looking to make gambling on sporting events legal in 2021, but he is also interested in mobile and online sportsbooks, a subject to which he was once opposed. The Foxwoods Resort Casino has already partnered with DraftKings in preparation for passing legislation in 2021.

Oklahoma, on the other hand, is not as enthusiastic for a legal sports wagering market as it would also be run by the Tribes who seem disinterested in an expansion.

Governor Kevin Stitt allowed two Tribes in the state to include sports betting in their new Tribal Gaming Compacts, only to have that decision overturned by the courts as Stitt has no authority to legalize sportsbooks through Tribal Compacts without the state’s approval.

For this reason, Tribes in Oklahoma are indifferent to sports wagering legislation for 2021 because they still have their casino gaming business successes without needing the help of sportsbooks.

New Jersey Sets New National Record In Handle & Indiana Sets State Record In November

New Jersey took their sports betting activity up a notch by 16% month-over-month, posting $931.6 million in bets for November. That’s a new record for the Garden State and a new record for the nation for monthly handle from the sports wagering market.

Monthly revenue was the third-highest seen for the year in the state with $50.6 million. October holds the highest state revenue for 2020 with $58.5 million, making November almost $8 million shy.

Over in Indiana, the Hoosier State had a record-breaking month in November for sports betting handle. The state’s sportsbooks brought in $250,872,627 in wagers with $2,406,551 in taxes collected from the activity. Football betting was responsible for almost half of the bets taken in November by sports bettors in Indiana.

Tipico Launches First US Sportsbook In NJ and MI approves 15 Sports Betting Operators For 2021

Malta-based, online global sports betting conglomerate Tipico has opened their first sportsbook application in the US with the launch of their New Jersey platform.

The company is now rooted in the Garden State with a headquarters in the area. They hope to enter more legal sports wagering industries in the United States for the expansion of their brand.

Tipico is already in the preliminary phases of entering Colorado’s sports betting industry but their New Jersey sportsbook is already open for sports enthusiasts in the state to use.

The Michigan Gaming Control Board (MGCB) approved 15 provisional licenses for online sports wagering operators to launch in 2021.

The businesses will be given their permanent licenses once they have shown the MGCB evidence that they have met all the requirements for a rollout to the public, including a testing phase so that gamblers won’t encounter any glitches once platforms are live.

Applications are available for download but will not be accessible until these requirements are met. The launching of mobile sportsbooks in Michigan is expected to begin before Super Bowl 55 in February.

Disney Embraces Sports Betting With ESPN+, XLMedia Buys More Websites To Grow Media Presence

In order to not spiral out as the popularity of their ESPN+ streaming service is waning, Disney has decided to begin integrating sports betting and fantasy sports into their broadcasts with the outlet. The announcement came during the Disney Investor Day 2020.

This move which is geared toward gambling on sporting events was not done lightly, as Disney has been historically vocal in its opposition of the pastime.

However, with sports betting’s continued growth in popularity, the company has decided to give the people what they want in hopes of gaining a wider audience for their ESPN+ service.

XLMedia bought CBWG for $12 million in cash followed by a future payment of $9.5 million, in a move to broaden their media presence in the sports betting world.

CBWG owned and operated EliteSportsNY.com, ActionRush.com, PASportsbooks.com, BetNewJersey.com, CrossingBroad.com, and PromoCodeKings.com. All of these sites are now the property of XLMedia. The projected growth of legal sports wagering across the United States is what led the company to make this purchase.

What’s Coming Up

Montana, Colorado, Pennsylvania, Illinois, and Nevada will be holding their commission meetings this week. During these meetings, states discuss revenue and handle gained by their sports betting industries as well as suggestions for changes.

Licenses for new operators can also be approved should any one of these states have that on their agendas.

December 18 marks the second anniversary of Washington, DC’s sports betting legalization. Although it is the second anniversary of gambling on sports in the District becoming law, the market did not launch until 2020.

December 20 will see Michigan celebrate its one-year anniversary of sports wagering becoming an official law. Michigan has already unveiled its retail sportsbooks with mobile platforms launching in 2021.

Sports bettors will see plenty of games to gamble on coming up as colleges will be holding their conference championships. The NFL is also winding down their season and entering crunch time territory for postseason play seeds with their matchups.

The NBA has begun their preseason with the official season tipoff beginning next week. There is no shortage of sporting events to bet on and New Jersey could possibly exceed the billion-dollar threshold in handle for the month of December.

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Christina Monroe

Christina has been writing for as long as she can remember and does dedicated research on the newly regulated sports betting market. She comes from a family of sports lovers that engage in friendly bets from time to time. During the winter months, you can find Christina baking cookies and beating the entire staff at Mario Kart…the N64 version of course.