SharpRank’s weekly updates on Compliance, Audit, Legislation, Ethics, & Regulation within the Sports Betting Industry.
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Topics 8/28/24:
- Missouri to Vote on Sports Betting Legalization in November
- Bovada Exits Ohio After Regulatory Crackdown
- Texas Sports Betting Delayed Amid Casino Legalization Battle
- NFL Players Reprimanded for $10K Bet
- AGA Urges Stricter Regulation of Risky Sweepstakes Casinos
- Nebraska Delays Online Sports Betting Legalization Until 2025
Missouri to Vote on Sports Betting Legalization in November
Three citizen-led proposals, including one to legalize sports betting, will be on Missouri’s November ballot, with backing from the state’s six professional sports teams. Although Kansas has already legalized sports betting and is using revenue incentives to attract teams like the Kansas City Chiefs, Chiefs President Mark Donovan downplayed its impact on the team’s future stadium decisions in Missouri. However, Donovan fully supports the proposal, emphasizing the benefits for fans, the state, and its public schools, noting that sports betting has been successfully implemented in surrounding states. He credited St. Louis Cardinals President Bill DeWitt for leading efforts among Missouri’s pro teams to push for legalization
Bovada Exits Ohio After Regulatory Crackdown
Bovada has exited Ohio’s sports betting market following a cease-and-desist order from state regulators. The Ohio Casino Control Commission (OCCC) accused Bovada of offering unlicensed sports betting, online casino games, and poker, and of allowing underage gambling. Despite Bovada’s claim to comply with state age requirements, its sign-up process permits users as young as 18, below Ohio’s legal gambling age of 21. Ohio is the fourth state since June to take action against Bovada, reflecting increased regulatory efforts to curb unlicensed gambling operations across the U.S. Bovada, which has operated in legal gray areas for years, now faces growing pressure from multiple states, highlighting a broader push to tackle illegal online gaming.
Texas Sports Betting Delayed Amid Casino Legalization Battle
The prospects for legalized sports betting in Texas are being delayed due to the intertwining of casino legalization efforts and intensified anti-gaming opposition. A recent report from Eilers & Krejcik Gaming indicates that Texas, previously expected to legalize sports betting by 2025, now faces a delayed timeline with no potential launch until 2028 at the earliest. The push for casino legalization, driven by major players like Las Vegas Sands, has triggered fierce resistance from anti-gambling groups, which has also affected the chances of sports betting approval. Despite growing interest in sports betting as a potential revenue stream, the conservative leadership and heightened anti-gambling sentiment are creating significant political challenges that could push sports betting legislation further out of reach in Texas.
NFL Players Reprimanded for $10K Bet
Malik Nabers and Jayden Daniels faced consequences for attempting a $10,000 bet on the NFL Offensive Rookie of the Year, a violation of league gambling rules. Nabers quickly canceled the wager and both players underwent additional training on NFL gambling policies. This incident follows a crackdown where the league suspended ten players last year for similar offenses. Despite increased educational efforts, the situation highlights ongoing challenges in ensuring player compliance with gambling regulations. The NFL is expected to continue reinforcing its gambling rules to prevent future violations.
AGA Urges Stricter Regulation of Risky Sweepstakes Casinos
The American Gaming Association (AGA) has raised concerns about the rising popularity of sweepstakes casinos, which are exploiting legal ambiguities to offer gambling-like activities without proper regulation. These platforms use a dual-currency model where virtual currencies, like Gold Coins and Sweep Coins, often require real money or significant time investment to redeem, blurring the lines with traditional online casinos. The AGA has called for increased regulatory oversight and legislative action to address these unregulated operations, which undermine the integrity of the legal gaming market and pose risks to consumers. Michigan has already begun cracking down on sweepstakes operators, highlighting the urgent need for broader scrutiny and new laws to prevent these operators from exploiting regulatory loopholes.
Nebraska Delays Online Sports Betting Legalization Until 2025
Nebraska’s 2024 legislative session concluded without advancing legal online sports betting, despite efforts by Gov. Jim Pillen and Sen. Eliot Bostar to address it alongside property tax relief. Bostar’s proposed amendment to allow mobile sports betting and allocate revenue for property tax relief failed to progress, partly due to opposition from key figures like former coach Tom Osborne. Although Nebraska has legal retail sports betting, the absence of mobile options means missing out on potential tax revenue and a more comprehensive betting market. The earliest opportunity for legalization might now be in 2025, with a possible public vote on the issue delayed until 2026.
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