sports betting

Although Kentucky's horse racing purses will not directly benefit from recently legalized sports betting, the state's nine tracks on Monday were authorized to apply for retail sports book permits starting Tuesday, July 11. They could start taking bets on games as early as Sept. 7, the first day of the National Football League season. Online sports wagering, which is expected to eventually account for 90% of an estimated $23 million in sports betting tax and licensing revenues for the state, will be rolled out Sept. 28. Those dates were confirmed...

Caesars Entertainment, Inc. on Tuesday announced agreements with Keeneland and Red Mile Gaming & Racing in Lexington granting them operator market access to offer legalized mobile sports wagering in Kentucky. The announcement comes six weeks after Kentucky Governor Andy Beshear signed Bill 551 legalizing sports wagering in the state into law on Mar. 31. Caesars also announced plans to open Central Kentucky's only brick-and-mortar retail sportsbook locations, subject to regulatory approvals from the Kentucky Horse Racing Commission. "Keeneland and Red Mile are iconic horse racing venues with an important legacy...

Just before the Kentucky State Legislature was to adjourn Thursday evening, House Bill 551--legislation to legalize, regulate and tax sports betting in the Commonwealth of Kentucky that seemed a longshot as late as Thursday morning--passed the Kentucky State Senate by a vote of 25-12. Governor Andy Beshear was to sign the legislation, which required 23 votes in favor, into law Friday morning. "After years of urging lawmakers to legalize sports betting, we finally did it!" Beshear tweeted Thursday evening. "Today's result shows that hard work pays off. Kentuckians will soon...

No business can change what it does not measure. Racing's public measurement of support, via wagering, hides serious issues. Recent stories have continued to cite declines in total handle, wondering just what is at play. How that handle has been derived has changed dramatically, but that's not reflected in the overall numbers. Over the last century, U.S. racetracks have reported total handle on their races and, for most of that time, it was one metric that accurately depicted the health of the business. But in our modern era of simulcasting,...

Jim McIngvale (Mattress Mack) made history when the Houston Astros won the World Series. He made bets that returned $75 million when they won, the largest win ever in the history of sports betting. The bets were tied into a promotion McIngvale has used many times at his Gallery Furniture Stores in Houston. If he wins the bet, his customers get free mattresses. He's great at getting publicity for himself and his stores, but never had he seen anything like what happened with this bet, the story of which became...

Edited Press Release Churchill Downs Incorporated has entered into a multi-year agreement with FanDuel Group involving different facets of FanDuel's sports wagering, advance deposit wagering and television business. Under the Agreement, CDI will provide certain technology and services to enable FanDuel's customers to place pari-mutuel wagers on horse racing via FanDuel's sports wagering and ADW platforms. CDI will also authorize wagering on CDI's owned or controlled horse racing content via FanDuel's platforms in the United States and grant FanDuel certain television and media rights to broadcast CDI-owned racing content on...

Some 23 years after it debuted, the TVG network underwent a major shift Thursday, its first day not as TVG but as FanDuel TV. There's a new name and a new direction. Between midnight and noon each day, racing coverage will not exist. Instead, the network will feature a number of shows that focus on sports wagering during those hours. While that may not be well received by TVG's loyal viewers, FanDuel executives insist that racing coverage is not going anywhere. Better yet, they believe they can introduce sports bettors...

A compromise agreement on a bill authorizing sports betting in Massachusetts was reached Monday, which could be the final piece of the puzzle when it comes to horse racing returning to the Bay State. Behind the scenes, a group of investors has been working to open a new track in the state ever since Suffolk Downs closed its doors in 2019, but understood that their plans would not be practical without there being a source of revenue beyond what can be made off of selling bets. With sports betting about...

According to a report on the website Legals Sports Report, TVG is about to get a new look, one that could include less emphasis on horse racing. The website is reporting that TVG will be renamed FanDuel TV, which will become the first "watch and wager TV Network in the U.S." TVG2 will be renamed FanDuel Racing. The FanDuel Group, a huge player in the sports wagering and daily fantasy sports markets, is the parent company of TVG. The changes are expected to take place in September. Programming geared towards...

Like fast-falling dominoes, the 2018 Supreme Court decision flinging open the legal doors to sports betting has already led to 30 states allowing some form of this gambling, and now it's California's turn to potentially join the party, with two such initiatives on the state ballot this November. The first is Proposition 26, an initiative called the Tribal Sports Wagering Act spearheaded by American Tribes which, in short, would allow sports wagering at Tribal casinos and at approved racetracks in California. Most crucially, it still prohibits mobile or on-line wagering...

The ever-expanding business of betting in America is in a difficult-to-predict flux right now, and one entity's risk is another's potential reward. "The gaming industry, generally, and horse racing, as a part of that, is one of the most dynamic industries on the scene today," Patrick E. Brown, a New York-based attorney who specializes in gaming and public policy, told TDN in a phone interview. "There's the obvious increase in sports betting and fantasy wagering, plus new technologies and advances making it so easy to wager. It's also way more...

The speed of legal sports betting's expansion across America in the last four years has surprised even the most bullish advocates. On any given day in a majority of states, Americans can bet on just about any outcome in the world of sports. The next point in a game of tennis. The total runs in the next inning of a baseball game. The number of corner kicks for a team in a soccer match. But if you legally wanted to bet on the Kentucky Derby other than the day before...