regulation – Page 7 – FairOdds Network

June 5, 2023

Episode 17: More on Brazil plus US sports betting updates

Brendan Bussmann and Brandt Iden talk about the latest developments in US sports betting legislation, as well as more from Brazil, in episode 17 of the World Series of Politics.

We start by revisiting Brazil sports betting, the focus of our last episode, as the regulatory process undergoes yet more evolutions.

From a provisional measure to a bill in Brazil

Brazil sports betting looked set to pass through a provisional measure (PM) which Hugo Baumgartner outlined in episode 16.

However that PM is likely to be turned into a bill, which sets up even more legislative hurdles. Other forms of gambling such as integrated resorts may be incorporated into the process.

While this could expand the market, it could also result in the bill failing to pass. Brendan says “it’s clear as mud” as to what’s likely to happen now. There’s plenty more to discuss in a future episode of the World Series of Politics.

More pain for Missouri sports betting

Next we pivot to US sports betting, where Misso..

May 23, 2023

MA regulator “frustrated” by DraftKings betting violations

Commissioners from state gambling regulator, the Massachusetts Gaming Commission (MGC), said they were “frustrated” by DraftKings' betting violations.

DraftKings reported itself to the Commission after discovering it had offered bets on the tennis UTR pro-series, which is not an approved betting event in the state.

The MGC’s Investigations and Enforcement Bureau (IEB) looked into the case. The wagering took place over a 12-day period from 10 March to 22 March.

During this time, players placed 864 bets on three events for a total handle of $7,867. DraftKings said the reason the error took place was because of a “miscommunication” between its trading and trading compliance teams.

The fault occurred after the operator copied a list of tennis offerings from a different jurisdiction without verifying if the event was approved in Massachusetts.

After discovering the issue, the DraftKings returned stakes to the players who had placed a bet, as well as removed any winnings and return..

May 4, 2023

New York greenlights $455m racing Belmont development

On 2 May, New York State lawmakers approved the FY2024 budget, which included funding for a $455m (£362.0m/€412.2m) loan to renovate and upgrade the Belmont Park race track.

Non-for-profit racetrack operator the New York Racing Association (NYRA) is charged with developing the project to build the new thoroughbred racing facility at Belmont Park.

The NYRA said that the “significant” construction development would have no cost to tax payers, due to being funded through loans that the operator is obliged to pay back to the state government.

Belmont Park’s existing grandstand and clubhouse are to be replaced with a new building, designed to “reflect the evolution” of racing and wagering since the site was last redeveloped in 1968.

In keeping with the declining popularity of racing in New York, the new construction is to be smaller, with the current 1.25 million square foot facility set to be replaced with a 275,000 square foot structure.

According to the NYRA, the new building is to..

April 14, 2023

Episode 15: A win in Kentucky, plus Texas, North Carolina and more

Last week the World Series of Politics asked where all the regulatory wins were in the 2023 legislative session, and, around a day after it went live, Kentucky sports betting was signed into law.

As Brendan Bussmann says, gaming tends to be the last issue for lawmakers to consider in the session and this year is no different. Earlier in the session Kentucky looked like a “sleeper state”, Brandt Iden says, making it a great win for the session.

Kentucky sports betting’s passage was “a classic case of bipartisanship”, he adds, with the governor, Republicans and Democrats coming together to make it happen.

Missouri and North Carolina sports betting set for photo finish?

Next up is North Carolina, a state with tribal sports betting already live, where a bill to expand the market is working its way through the legislature.

Brendan is increasingly bullish on the Tar Heel State. He says attitudes on gaming are changing as more southern states look at legislation, with more efforts to..

April 6, 2023

Missouri sports betting efforts stall in senate

Efforts to authorise sports wagering in the Missouri hit a brick wall on Wednesday as proponents of video lottery terminals (VLT) sought to introduce a number of poison pill amendments to the bill.

Senate Bill 30 – which has the support of both casinos and major professional sports teams – seeks to legalise sports wagering in Missouri.

All of the state’s neighbours have either authorised sports betting, or are in the process of doing so. Last week, the Kentucky governor, Andy Beshear, signed House Bill 551 into law, paving the way for state-wide sports betting, and making Missouri one of the final states in the region to legalise the activity.

The proposed law – introduced by Senator Tony Luetkemeyer – is the companion bill to House Bill 556, which was sponsored by a bi-partisan coalition of Republicans and Democrats.

Casinos in Missouri – many of which are casino boats – will be able to partner with up to three operators

The legislation would allow each licensed casino in the sta..

March 14, 2023

World Series of Politics Episode 13: Governor Rick Perry on Texas sports betting

Former secretary of the environment and Texas’ longest-serving governor, Rick Perry, joins Brandt Iden and Brendan Bussmann on the World Series of Politics.

Governor Perry believes legislation from Senator Lois Kolkhorst and Representative Jeff Leach, that paves the way for a public vote on sports betting regulation, is the best way to bring legal wagering to the Lone Star State.

Listen to the World Series of Politics on Apple Podcasts

About Rick Perry:

Rick Perry is a former United States secretary of energy, serving under US president Donald Trump from March 2017 to December 2019.

Governor Perry is a strong advocate for legal sports betting in texas

As the fourteenth secretary of energy, Perry led an agency tasked with overseeing the United States’ energy supply, nuclear defense capacity, and the 17 national laboratories, home to many of the country’s best scientists.

Prior to joining the administration as secretary of energy, Perry served as the 47th governor of Texas. As gov..

March 13, 2023

Rick Perry: Texas voters will back sports betting

Political heavyweight Rick Perry believes a proposal to regulate mobile sports betting in Texas will pass “overwhelmingly” if it is put to voters.

Speaking on the World Series of Politics podcast, Governor Rick Perry said the proposal filed by Senator Lois Kolkhorst represented the best way to legalise betting in the Lone Star State.

Legal sports betting in Texas will also generate significant new revenue, he continued. The full podcast can be heard below.

It could net half a billion dollars according to recent estimates, the longest-serving governor in the state’s history said. This could pave the way for lowering other taxes, and generate more for infrastructure spending.

Governor Perry is in favour of a constitutional amendment to facilitate legal betting in Texas

Plans for Texas mobile betting

Senate Bill 715 and its House counterpart HB1942 set out the framework for regulated betting.

The bills set out plans for a mobile market, with the state’s professional sports fran..

March 7, 2023

Duelling sports betting bills fail in Georgia

Two separate sports betting bills in Georgia have failed – in the state House and Senate.

This means that Georgia’s sports betting dream is dead until the 2024 Georgia legislative session at the earliest.

The Senate bill’s primary sponsor and Republican majority leader Bill Cowsert’s strategy was focused on amending the constitution of the state of Georgia to allow the legislature to pass laws.

The Senate effort aimed to amend Georgia’s constitution

In turn, this would have allowed for sports betting to be operated in the state.

Georgia currently prohibits the authorisation of gambling operations, with an enumerated exception for lotteries.

This bill – entitled Senate Resolution 140 – did not get the requisite two-thirds majority needed for an amendment of the state constitution, and so failed at 30-26 votes.

If the resolution had passed, sports betting would have appeared on the ballot by referendum in November 2024.

And while the amendments enabling legislation Senate Bill 17..

February 27, 2023

First ilottery and online sports betting solution launched in Brazil

NeoGames and Intralot do Brasil have announced the launch of LotoMinas, the first regulated ilottery and online sports betting solution for Brazilian state Minas Gerais' official lottery, Loteria Mineira.

The multiyear turnkey agreement, which was first announced in June, sees NeoGames enter the Brazilian market, in a project that will involve long-term cooperation with the state’s lottery operator.

The undertaking is NeoGames’ first large scheme led by its subsidiaries with Aspire Global and BtoBet – companies that the business acquired last year.

neogames will provide ilottery and online sports betting services to the lottery operator

NeoGames CEO Moti Malul said the organisation was “excited” to launch in the Brazilian market and to be partnering with Intralot do Brasil, which is more familiar with the local market than the Israel-based supplier.

“Together we will provide online lottery and sports betting players in Minas Gerais with a first-class online gaming experience..

February 23, 2023

Federal Bill to ban sports betting ads introduced in the US

A bill introduced into the House by Democratic representative, Paul Tonko proposes a wide-reaching ban on sportsbook advertising.

Entitled The Betting on Our Future Act, the bill aims to “prohibit the advertising of sportsbooks on any medium of electronic communication subject to the jurisdiction of the Federal Communications Commission (FCC), and for other purposes”.

If passed, sportsbooks would not be permitted to advertise on mediums that fall under the control of the FCC, such as TV, radio or the internet.

the bill would seek to ban all sports betting ads on mediums overseen by the fcc – such as tv, radio and the internet

The act is modelled after the Federal Cigarette Labelling and Advertising Act, that passed in 1965 and banned tobacco advertisements in the US.

Should this act be passed, any violation would therefore be a violation of the Communications Act of 1934.

Whether or not the act goes beyond the House, its proposal reflects the rapid growth of sports betting ac..

January 17, 2023

World Series of Politics Episode 11: GeoComply’s Linsday Slader on Ohio

The special guests keep coming on the World Series of Politics, with GeoComply’s Linsday Slader joining Brendan Bussmann and Brandt Iden to discuss Ohio’s sports betting launch. Also under discussion are Brazil, Macau and the US legislative session.

The geolocation specialist’s managing director of gaming says Ohio’s sports betting launch was one of the biggest market openings in the US to date.

Over the New Year weekend alone, GeoComply recorded more than 11.3 million geolocation transactions, and Slader says around 1.2 million accounts were set up in the first week of activity.

This episode also marks the World Series of Politics’ debut on Spotify! You can also listen on Apple Podcasts, and directly from this page.

Ohio betting flies out the blocks

There’s also a wider range of betting options than ever before, with 1,000 kiosks rolled out across Ohio, and it’s going to be interesting to see how this works in tandem with a widespread mobile offering. If it keeps up its early ..

January 13, 2023

New York bill would require warning in gambling ads

The state of New York has proposed a bill to amend the racing, pari-mutuel wagering and breeding law, to require all advertisements for gambling and sports betting to include warnings on the potential harm of gambling.

The bill, introduced into the State Senate by Democratic senators Leroy Comrie and Luis R Sepúlveda, has not yet been voted on.

Specifically, the amendment “requires all advertisements for gambling and sports betting to include warnings about the potential harmful and addictive effects of gambling; requires the state gaming commission to cooperate with the commissioner of addiction services and supports to ensure that all advertisements for gaming activity state a problem gambling hotline number”.

The amendment also proposes to include mobile sports wagering licences into the advertisement requirement.

If the motion passes, it will take effect sixteen days after it becomes a law.

Ohio marketing violations

As part of its regulations when it legalised sports bett..

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Tag: regulation