We have made it thru another week in the sports gambling world and what an eventful week it was. In an otherwise frustrating process, the mid-term elections have finally come and gone(for the most part). Mixed results depending on what you were rooting interest were but glad that it's over for a few years. A few sports betting measures were on the ballot as well that will help shape the landscape.
On the field action for gamblers is plentiful as we have reached the point of the year where there is major sporting action daily. College basketball has tipped off and Duke announced to the nation how good they really were by dismantling title contender Kentucky. The NBA season is plugging along with the Golden State Warriors showing a few cracks in the armor with Draymond Green fighting Durant and maybe the rest of this team. Week 11 past on the college gridiron as we quickly approach bowl season. And the NFL flew thru week 10 as many playoff hopefuls are having to shift into do or die mode. Let's dive right in and take a quick look around the industry in this week's gambler's report.
Election Day: Sports Gambling
Legalized sports betting just became a whole lot more difficult to achieve in the sunshine state of Florida. I guess the $40 million dollar investment by Disney and the Seminole Tribe of Florida paid off as Amendment 3 passed with 71% of the vote. I'd guess most who voted yes didn't even understand what they were voting for when they voted due to confusing language. Now any casino expansion in Florida will have to go to a vote and achieve 60%, which is going to be tough to achieve.
Not all news was bad for gamblers around the states as Arkansas voters approved a constitutional amendment that legalizes sports betting in the state. Issue 4 was approved by 54 percent of Arkansas voters and explicitly included language outlining sports betting as a legal form of gambling. The measure also approved casino-style gambling at four locations in the state.
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Lower Ticket Prices?
In the call me pessimistic category, Los Angeles Kings president Luc Robitaille suggests that legalizing sports betting could allow NHL teams to lower ticket prices. The Kings president believes that the revenue created via advertising, sponsorships, and such could be so considerable that the savings may be passed on to the fans. Call me skeptical, but I'm guessing any additional revenue created by sports gambling would be argued about and split between players and owners while the fans still get left with ticket price increases and $10 beers.
A quick look around November payout reports generally shows everything being paid out within stated timeframes. As usual, Bitcoin remains the fastest and most efficient way to both withdrawal and deposit funds.
I did see one complaint to follow regarding a Youwager client having his account hacked or deposits hijacked. Will be interesting to see how it plays out but looks like he is claiming to be missing just over $7k. As always, make sure you do your due diligence before depositing your hard earned money in any book.