Category Archives: News

The Lone Bettor Responsible for Changing Washington DC Sports Betting

Many people wonder how sportsbooks and sports betting operations in general could ever lose money or go out of business. After all, their profit is built into the design of their business, right? In its simplest form the answer to this question is a resounding yes, but the reality for Washington DC’s lone sports betting operator, GambetDC, is that sometimes things are not as simple as they seem.

Washington DC is unknown to most people in the sports betting world because most people are not aware sports betting exists there. In other instances, people assume that Washington DC falls under either Maryland or Virginia, where online and in-person sports betting is legal. The reality is that the tiny District of Columbia has a longstanding sports betting industry, albeit one that is fragmented, struggling financially, and antiquated. The antiquated aspect of GambetDC’s operation was exploited earlier this year by a single bettor who profited thousands and, at the same time, prompted a change in the way DC sports betting exists.

Deviations in Betting Lines Exploited

For this story to make sense, you need to know a bit more about how sports betting in Washington DC works. Similar to most states where sports betting is legal, DC sports betting can only exist within a well-defined geographic area. Making matters a bit more confusing than most states is the fact that even within DC, certain parts of the city are off limits for one reason or another. This presents a situation where sports betting might be legal on one block but not legal two streets over. Confusing as this may be, there are still plenty of restaurants, bars, and other establishments with GambetDC betting kiosks, and Abunai, a small poke restaurant, is one of them. 

This small restaurant in Northwest Washington DC was the betting headquarters of a sharp bettor who would eventually be the reason for a change in DC sports betting rules. Very quickly, the restaurant’s staff noticed a patron who was there nearly every day, but never ordered a single dish. On its face this seems strange, but no one questioned it as this bettor’s patronage was changing the restaurant’s fortunes for the better. 

The reason this anonymous bettor loved Abunai so much was because he realized that their GambetDC betting terminal (and all others like it in DC) offered betting lines that were sometimes markedly different from those found on sites like FanDuel or BetMGM. These deviations were exploited time and time again, profiting the DC bettor hundreds of thousands of dollars. Another flaw in GambetDC that allowed for this to go on for so long without any questions being raised was the anonymity associated with betting in DC. Unlike any other jurisdiction where you are forced to register and create an account when betting online or at a kiosk, GambetDC did not have such requirements. If this same situation was playing out in the online sports betting market of nearby Virginia, a bettor performing as well as the bettor in DC would have his account flagged and wagers capped. In other words, a sportsbook would limit how much a person can wager on a single event/bet. What this meant in the nation’s capital is that the anonymous DC bettor was not ever able to have his wagers capped, and he profited as a result. 

Betting Rules Changed in a Hurry

Once the D.C. Lottery’s Regulation and Oversight Division finally caught on to their old systems being exploited, they moved to quickly cap the anonymous bettor’s wagers. Not only that, they have moved to more tightly restrict the wagering limits for all bettors. If you try to place sports bets in Washington DC today, there will be a much larger and more noticeable number of restrictions in place.

Though sports betting legalization has been a boon to the bottom lines of many states’ coffers, the same cannot really be said about Washington DC. To put it simply, the sports betting industry in the District is struggling, and has been for some time now. Adding more restrictions and limits to betting is exactly what DC does not need, especially if it wants to see monthly betting revenues that exceed even $5 million.

Seminole Tribe Receive Massive Ruling from Federal Appeals Court

For those residing in Florida, the topic of legalized online sports betting–and sports betting in general–has been one no one really likes talking about. After all, for the shortest period of time bettors in Florida were able to place sports bets before legal proceedings put all betting on hold. That was back in 2021, and while Florida still does not have a legal, online sports betting system in place, the state moved one step closer to legal sports betting being a reality this week.

Just this week, a Federal Appeals Court denied a request from the owners of the state’s non-Tribal casinos and racetracks for a rehearing regarding the deal that gave full sports betting authority to Florida Native American tribes, namely the Seminole tribe.

A Deal Nearly Three Years in the Making

In 2021, Florida Governor Ron Desantis and the Florida Seminole Tribe signed a 30-year deal that would see the Seminoles be the lone offeror of sports betting in the state, online or in-person. In the Fall of 2021, with the NFL season already underway, this was a big deal because it meant that millions of sports-crazed Floridians would be able to bet on sports both in-person and from their phone. Even though Florida did not officially legalize sports betting, this deal was allowed to go forward because all bets would be processed by servers that were housed on tribal land belonging to the Seminoles.

As quickly as the deal was signed however, the owners of casinos and racetracks around the state banded together to fight it. Fight it is exactly what they did, and it did not take too long for US District Judge Dabney Friedrich to rule that the deal violated the Indian Gaming Regulatory Act because it allowed for gambling to take place off of tribal lands. She called the idea that the deal was legitimate because the bets ran through tribal servers on tribal lands a “fiction”, and that gambling would really be taking place in all corners of Florida, not a select few hundred square miles.

The Final Blow to Non-Tribal Operators

A three-judge panel was formed to take a closer look at this situation and, back in June, ruled that Judge Dabney Friedrich was incorrect when she ruled that the deal between the State of Florida and the Seminole Tribe violated the Indian Gaming Regulatory Act mainly because the Act allows for gambling both on and off tribal lands. In other words, it does not restrict gambling to only tribal lands.

Despite this June ruling, pari-mutuel racetrack owners and casino owners asked for a rehearing on the matter. That request was denied this week and little explanation was offered for the denial.

The Seminole Tribe released a statement saying that they were “pleased” with the ruling, but there is no immediate word on if, or rather when, they will be accepting bets on their Hard Rock Sports Betting app, which existed for a short period of time in 2021 before being turned off just before the turn of 2022. With that said, the fact that the NFL and college football seasons are well underway has many thinking that the Seminoles are going to reactivate the app and begin accepting bets again before too long.

Brazilian Soccer Betting Fraud Warrants Government Intervention

Thanks to a longstanding history of soccer betting fraud coupled with more recent actions by players, the government of Brazil is taking a closer look at the systems currently in place aimed at preventing betting scandals.

These new measures are coming in response to shocking discoveries made in May. Then, the Brazilian soccer world was rocked as it was announced that a lengthy investigation revealed a large number of players were involved with match-fixing. The fallout of that investigation is still unfolding, but it is clear that Brazil is seeking to take drastic steps in order to stamp out match-fixing of any type.

A Number of Changes Proposed

In the report released last week, which was signed by special advisor to Minister Fernando Haddad, Fernanda Cimbra Santiago, it was explained that because of “recent episodes of manipulation of results in sports betting,” the Brazilian ministry should be able to ban or suspend betting on certain events. The report pointed to both live, in-game wagering as well as wagering done before games/matches begin.

As one might expect, the report singles out leagues, competitions, and teams that have been found guilty of match-fixing, but does not neglect to mention that this oversight should be broad-reaching, covering more than those leagues and teams with a history of foul play.

A Total Ban on In-Game Betting Considered

Because many of the incidents of match-fixing came by way of live, in-game wagers, there has been some talk in Brazil that sportsbooks should ban live betting entirely, even if only for certain teams and competitions.

This does not seem likely to happen, however, as live betting makes up almost a quarter of revenue for Brazilian sportsbooks. If the ministry that oversees betting and betting regulation wishes to continue making money, live betting must continue to exist, and exist in abundance. This is where things become more difficult to manage. While most countries in Europe and South America have an abundance of leagues upon which people can place wagers, few have more leagues than Brazil. Because the umbrella of “professional soccer player” is one that encompasses thousands of people, only a fraction of them make significant money. As a result, the temptation to participate in match-fixing in order to make extra money is a very real one. How this can be changed or remedied is anyone’s guess, but further scrutiny of wagering activity is certainly a good place to start.

A more sensible suggestion that was made relates to sportsbooks requirements to report suspicious wagering activity to the appropriate authorities within a 5-day period of time. This reporting is typically followed by most sportsbooks in Brazil and across the world, but it is not presently something Brazilian sportsbooks are required to do by law.

There is little known about where Brazilian authorities will land with changes regarding how they regulate betting on Brazilian soccer, but it is evident that this is no small issue for the soccer-loving country and their lawmakers.

New Colorado Online Sportsbook’s Harvard and NFL Roots

Whenever there is talk about a new state establishing online sports betting the first question on the minds of most relates to which operators will be present. All too often, the answer to that question consists of the same names, including BetMGM, DraftKings, and FanDuel to name a few. Rarely do we see a new entrant to the industry that is truly new.

Colorado is set to alter that status quo with the launch of Novig, a sports betting exchange that traces its roots not to Las Vegas and Atlantic City, but Harvard University. Despite Novig’s unorthodox origins, the company led by two recent Harvard grads is set to launch Colorado operations in October and has just secured nearly $6.5 million in seed funding, much of which came from prominent sources.

Unlikely Beginnings and Unlikely Investors

Novig founders Kelechi Ukah and Jacob Fortinsky do not appear, on paper,

to align with most people’s idea of online sports betting site founders. At not even 30 years old they are younger than most other online gambling operators, but what stands out most is that the two met at Harvard during their undergraduate studies; undergraduate studies that could not be further removed from the sports betting world.

Fortinsky focused his education on philosophy and political science whereas Ukah focused his studies on science and math. Upon the conclusion of their respective undergraduate degrees, both Ukah and Fortinsky had ample opportunities to pursue successful careers but have instead chose to pause all of those plans in pursuit of a venture that most are surprised to learn originated within the hallowed halls of Harvard University. That is because a small sports betting venture started by Fortinsky in March 2021 has now raised over $6 million in seed funding from some of the biggest names in investing and sports, including investor Paul Graham and NFL Hall of Famer Joe Montana.

A Sportsbook Built by a Sports Bettor

Despite what it may look like on its face, the story of Novig is not simply one of two Harvard-educated geniuses leveraging their connections and education to make some money in a growing industry. Instead, the idea of Novig was born of Jacob Fortinsky’s affinity for betting and frustration with the offering of most online sportsbooks.

Fortinsky’s frustrations had less to do with the sports markets or bet types being offered by online sportsbooks and everything to do with how modern sportsbooks operate. His issue was with the vig charged by all online sportsbooks in order to ensure they turn a profit. Though the percentages taken from bettors by sportsbooks does vary, it is always there.

In an interview with Forbes, Fortinsky explained what he thinks about how online sportsbooks operate by saying, “It felt very inefficient, outdated, exploitative. The number one reason why people stop sports betting or don’t start sports betting is there’s a fundamental understanding that the house always wins. The game is sort of rigged against the everyday bettor. You’re just a pawn in their game, effectively. I felt like there’s a lot of opportunity to create a more fair, transparent and efficient system.”

It was this line of thinking that led Fortinsky and Ukah to create a sportsbook where odds are determined by the bettors, not the sportsbook. In many ways, Novig operates more like a stock market than a traditional online sportsbook to ensure that bettors get the most value for their bets.

A New Way of Betting

At Novig, bettors will be able to “buy” and “sell” bets similarly to the way traders can buy and sell stocks. Sites like this are already popular in Europe, where sports betting has existed prominently for decades, but there are few examples within the US market outside of New Jersey.

For most bettors on Novig, there will be no fees charged for bets. Though there are exceptions in the form of fees charged to some high-dollar net winners, Novig is breaking the mold by giving bettors the power and control to determine their winnings.

Extensive beta testing has been done in Colorado, and by almost every measure it was a success. With only 200 users, Novig saw more than 15,000 orders (bets) placed over the course of just two weeks. What’s more, interest in Novig is skyrocketing such that Novig can hardly keep up with the number of prospective Colorado users trying to become beta testers themselves. Novig expects to be fully live in Colorado sometime in October and is then setting its sights on the east coast, first with New Jersey and then Ohio.

Whether Novig sets a trend in the US and paves the way for more, similar sportsbooks remains to be seen, but for bettors there is no question that this is a positive. Be it overtly or subtly, it stands to reason that the existence of no-vig sportsbooks will put pressure on the vig practices of existing online sportsbooks.

The Latest on Sports Betting in Ohio

Since the overall ban on sports betting was struck down in the United States many years ago, a plethora of states have quickly moved to both legalize the activity and implement both online and in-person betting operations. Pennsylvania, New York, and New Jersey all come to mind when thinking of states the passed legislation and began accepting bets in what seemed like the blink of an eye.

On the other side of the coin however, there are states like Ohio and Maryland, both of which passed legalized sports betting legislation without too much trouble but still, to this day, have not accepted a single online wager. Maryland recently moved to allow casinos and racetracks to accept in-person wagering, but Ohio has been treading water for the better part of a year now. Finally, there seems to be light at the tunnel for Buckeye state sports bettors.

Online Betting in Time for Super Bowl 57?

Online sports betting was officially legalized in Ohio last December, but Ohioans have been waiting nearly three quarters of a year without receiving much guidance with regard to when bets can be placed. This week it was announced that online sports betting in Ohio will be live in January of 2023, meaning that bettors should be able to place wagers on both the collegiate football National Championship as well as the NFL’s Super Bowl.

Bettors will be greeted by a number of online operators, but it seems that in-person sports betting will be a major deal in Ohio as well. Just this week, it was reported that Kroger’s, a national grocery store that has a massive presence in Ohio, has applied for more than 40 betting licenses. According to reports, the grocer outlet is going to set up betting kiosks inside their stores, meaning you can both shop for food for the game and bet on the game all in one location.

What About Maryland?

The news this week is great for residents of Ohio, but for Marylanders it comes as a sort of slap in the face. While Ohio legalized sports betting less than a year ago, Maryland is going on nearly two years since sports betting legislation was passed. That bill was signed into law back in November of 2020 and even though sports betting is now legal at the state’s few casinos, online betting is still shrouded in mystery.

We wish we could convey some good news with regard to a projected starting date for online sports betting in Maryland, but there is no concrete date set. The going estimation is that online sports betting will go live in the second half of 2022, however we are already more than halfway through the second half of the year and there is no end to the waiting in sight.

On the bright side, Marylanders can expect up to 50 mobile betting operators to exist in the state, a number that dwarfs most other states with legal online betting.

Federal Regulators Approve Florida Sports Betting Compact

On Friday, Federal regulators allowed the controversial gambling agreement between the state of Florida and the Seminole tribe to take effect. With the approval from the feds, sports betting in the state can now begin taking bets as early as October 15, assuming the deal can successfully navigate the many hurdles that remain. The deal has received a lot of criticism from officials throughout the state, including scrutiny in the form of lawsuits. Now, a number of challenges stand between the proposed sportsbooks and the launch of sports betting in the Sunshine State.

The Deal and the Controversy

The deal under question was ratified by legislators and signed by Gov. Ron DeSantis and Seminole tribe Chairman Marcellus Osceola Jr. in May. The compact was the result of tireless efforts from law makers and gaming enthusiasts who have been pushing for some form of gaming expansion in the state over the past few years. Under the deal, anyone over the age of 21 will be able to place online wagers on sporting events through online sportsbooks or mobile applications. Brick-and-mortar sportsbooks would also be permitted at existing Seminole casinos, which currently operate on reservation lands.

Under the Indian Gaming Regulatory Act and Florida law, all gambling in the state must be conducted on reservation land. The new compact, however, would bypass this law by giving the Seminole tribe control over the servers that would be handling all the mobile and online sports wagers. With online and mobile sports betting, bettors would be able to place their bets remotely, even from the comfort of their own homes. In return for complete control over sports betting, the Seminole tribe will guarantee at least $500 million in annual revenue payments to the state for the next 30 years.

Under the new compact, sports betting can begin in October. At that time, the tribe will be able to take sports bet at the six casinos located on their tribal lands. In addition to these brick-and-mortar sportsbooks, Florida’s existing racetracks and jai-alai frontons will be given permission to develop their own mobile sportsbook apps and conduct their own sports betting using the Tribe’s servers.

The deal has caused quite the stir, as it gives the Seminole tribe complete control over sports betting through a questionable loophole in the law. So far, the deal is already facing a lawsuit that is pending in federal court. Additionally, there are at least two ballot initiatives that have been launched in an attempt to counteract the deal, offering alternative sports betting options and blocking some of the expansion of casino games. Despite these hurdles, the Department of Interior did not lend their voice to the rising concerns surrounding the compact.

The Seal of Approval

The Department of Interior officially released a 12-page letter outlining their opinion of the State’s controversial deal with the Seminole tribe on Friday. The letter revealed that the department will neither approve nor deny the compact. Yet the letter went on to state that “the Compact is considered to have been approved by operation of law to the extent that it complies with the Indian Gaming Regulatory Act and existing Federal law.” The letter is expected to be published in the Federal Register sometime next week, making the compact effective immediately after.

Bryn Newland, principal deputy assistant secretary of Indian Affairs, shared that the department’s decision should come as no surprise given the way that evolving technologies have spurred the growth of sports betting throughout the United States. Other states have faced similar questions about where betting should be permitted, given the fact that mobile wagers open the door for bettors to place their bets on land that was not previously set aside for gambling. Newland noted that many states have already enacted laws that deem a bet to have occurred at the location of the servers, meaning that Florida’s new compact would not be in violation of any existing laws.

Challenges Ahead

The Department of Interior may have paved the way for the deal to finally bring sports betting to Florida this October, but not without a catch. The department raised a few minor concerns with the compact, as detailed in the letter they released. The first of these is that the department does not support the idea that the Seminole tribe should contract with “Qualified Pari-mutuel Permitholders” in order to provide marketing for the Tribe’s sportsbook. The department was also critical of the deal’s handling of tort remedies for patrons, claiming that the proposed processes for handling patron disputes could not be upheld under the state’s existing laws.

Among those questioning the compact are some of the industry’s leading sports betting companies, including Las Vegas Sands, FanDuel, and DraftKings. The trio of gaming giants have put millions of dollars into various ballot efforts to influence the direction of sports and casino gambling in the Sunshine State. Las Vegas Sands is working to get voter approval on three new casinos, while also expanding card rooms to offer casino games. Meanwhile FanDuel and DraftKings have been working on a constitutional amendment that would allow voters to vote in favor of alternative sports betting options other than the ones made possible through the State’s deal with the Seminole tribe.

A sports betting expansion remains a priority for lawmakers and officials throughout the state, however many are fearful that if the compact could give the Seminole tribe a monopoly in an industry where everyone wants a piece of the pot. Even if the compact makes it to launch without facing significant challenges in court, it is possible that other challenges could still lie ahead.

DraftKings to Open Sports Betting Bars in Detroit and Nashville

On Thursday, DraftKings announced a new partnership with Sports & Social, a company that specializes in sport-centered entertainment venues. With the new partnership, the sports betting giant plans to launch two new venues that would couple top-of-line sports bars with sports betting. Chief Business Officer Ezra Kucharz said that DraftKings plans to bring its existing sports betting products “to life by offering engaging, interactive fan-first destinations.” The partnership means that new DraftKings venues will be coming to Nashville and Detroit in the near future.

About the New Partner

DraftKings made a name for itself back in 2012 with the launch of their daily fantasy sports platform. Since then, the company has grown significantly, becoming a household name for anyone who is a fan of professional sports in the United States. With the Supreme Court’s decision to lift the ban on sports betting in 2018, DraftKings has grown even more, launching mobile and brick-and-mortar sports betting locations throughout the country. The company is now looking to grow even further, taking its nearly 10 years of experience into its new partnership. The new relationship will couple sports betting products with an all-around entertainment experience for its customers, thanks to the help of Sports & Social.

Sports & Social is renowned for creating unique luxurious gaming establishments in the form of social lounges throughout the country. The company successfully joins state-of-the-art sports viewing with a quality dining experience and an enticing cocktail menu. While visitors dine at these locations, they can watch and enjoy live sporting events from around the world, all while placing bets through retail or online sportsbooks that have partnered with Sports & Social. The company is a brand of Live! Dining & Entertainment, which is a division of The Cordish Companies. The Cordish Companies venues attract more than 55 million visitors to their dining and entertainment venues in the United States every year.

Two Lucky Destinations

According to the release, DraftKings and Sports & Social have chosen Detroit and Nashville as the two destinations for their new sports entertainment venues. In fact, Sports & Social already has a location in Detroit that will become the home of the new partnership. Sports & Social Detroit is located at Woodward Square in downtown Detroit in the area known as District Detroit. As it stands, the venue does not have a retail sportsbook, but the new partnership will change that. The existing location is positioned perfectly for a sports entertainment venue. As it stands, the venue is within reach of Little Caesars Arena, home to the NHL’s Red Wings and the NBA’s Pistons, as well as Ford Field and Comerica Park, home to the NFL’s Lions and the MLB’s Tigers respectively.

Despite the strong foothold in Detroit, Sports & Social does not yet have a presence in Nashville, leaving the anticipated location up for debate. It’s possible that the venue could make its new home in Nashville’s Music Row district, a popular tourist destination that is conveniently located near Bridgestone Arena, home of the NHL’s Predators, as well as Nissan Stadium, home of the NFL’s Titans. It is likely that the Nashville location will not include gambling kiosks, as brick-and-mortar gambling venues are still prohibited in Tennessee. That being said, DraftKings and Sports & Social will surely use DraftKings’ existing online platforms to create a unique customer experience in their latest venture.

An Evolving Sports Betting Industry

The partnership between DraftKings and Sports & Social is representative of the ever-evolving sports betting industry in the United States. The two companies are taking their existing success and looking to build upon it by adding a new and unique experience in Detroit and Nashville. DraftKings’ sports gambling platform already operates in 14 states with its online and mobile app, with 10 retail locations as well. Their fantasy sports app is available in seven countries, while their gaming technologies are used by more than 50 operators across 17 countries. Sports & Social currently operates sports entertainment venues like the two proposed in Atlanta, St. Louis, Arlington, Pittsburgh, Philadelphia, and Baltimore.

Louisiana Approves First Fantasy Sports License

On Thursday, the Louisiana Gaming Control Board approved DraftKings as the first fantasy sports betting company to do business in the state. The license approval has been a long time coming as the Bayou State has been working on introducing sports betting for years. DraftKings officials were ecstatic about the decision, working to go live within 24 hours of the board’s unanimous approval. The launch is a step in the right direction for sports betting in the state, and is a sign of things to come, as other companies prepare to have their licenses approved. The launch of fantasy sports is a timely one, as Louisiana also plans to introduce other forms of sports betting later this year.

Fantasy Sports with Draft Kings

Now that DrafKings’ license has been approved, the company is set to launch their renowned fantasy sports products for residents within the state. Fantasy sports differs from traditional sports betting and online sportsbooks. Instead of placing wagers on moneylines, spreads, futures, or prop bets, fans will access the DraftKings app or website to create their own rosters and compete against other players in a variety of sports. The most popular example of fantasy sports betting would be fantasy football with the National Football League. With DraftKings fantasy sports, residents of Louisiana will be able to play over an entire season, or a single day of games in the sport of their choice, including baseball, basketball, football, or even a golf tournament.

The introduction of fantasy sports betting is the first step for the Bayou State into the world of sports betting. As DraftKings becomes the first to receive a license to operate, a number of competitors are waiting to leave their mark on the gaming landscape. While Louisiana has welcomed a variety of gaming options for years, the introduction of fantasy sports and sports betting marks a significant shift that will inevitably have an impact on the state’s gaming revenue.

The Path to Fantasy Sports Betting

Louisiana is currently home to 13 riverboat casinos, which have provided an enticing gaming option for residents, as well as a tourist attraction for people throughout the United States. However, the state has recently felt the pressure to expand their gaming options, as southern states like Mississippi, Georgia, and Alabama have legalized or proposed sports betting legislation. Since the Supreme Court’s decision in 2018 to overturn the ban on sports betting, the industry has gained significant traction throughout the country, generating millions in revenue. Louisiana voters were quick to approve fantasy sports betting, as voters in 47 parishes voted to approve fantasy sports betting in November 2018, but despite the early vote to approve sports betting it has taken years for tangible sports betting to materialize.

Now that fantasy sports are set to launch, officials are setting lofty revenue goals. Gaming experts have shared that the industry could produce as much as $15.5 million in net revenue in the first year of operations. Out of that figure, nearly $1.3 million in tax revenue would go directly to the state. In the coming years, it is expected that Louisiana will continue to expand sports betting in the state. With this expansion, officials estimate that the market could fall between $2 billion and $2.6 billion over the next decade.

Looking to Expand Beyond Fantasy Sports

DraftKings isn’t the only industry leader set to launch fantasy sports in Louisiana. Earlier this year FanDuel submitted an application to the gaming board to begin operating fantasy sports options of their own, hoping to go live before the upcoming NFL season. Daily fantasy sports are just the first step for sports betting in Louisiana, as both DraftKings and FanDuel hope that their platforms will help build a strong customer base before other forms sports betting begins later this year.

Louisiana has yet to launch any brick-and-mortar or online sportsbooks within the state, but the approval of DraftKings fantasy sports license could suggest that a physical or online presence for the industry-leading sports betting company could become a reality in the future. The company has already branded sportsbook wagering at 13 casinos throughout the United States, so the transition to a physical presence in Louisiana would be a smooth one. DraftKings also has a partnership with Casino Queen, who has already announced their intentions to buy the Belle of Baton Rouge and Hollywood Casino Baton Rouge, opening the door for a DraftKings sportsbook once that deal is done. With such a strong foothold in the industry, as well as the state, it is likely that online and brick-and-mortar sportsbooks will successfully launch later this year.

Wagr Makes Sports Betting a Social Experience

A new sports betting app is looking to flip the world of sports betting on its head by making it a social experience and introducing sports wagering to an entirely new fanbase. Since the Supreme Court lifted the ban on sports betting in the United States in 2018, residents have found a plethora of sports betting options. Up to this point, those interested in sports betting have placed wagers at traditional brick-and-mortar sportsbooks, as well as online and mobile sportsbooks. All of these wagers have been placed against the “house” or the casino responsible for operating the sportsbook, with little to no interaction between those wagering; Wagr is looking to change this model. The new sports betting app has set out to make sports betting an inviting experience, where users can place wagers with and against their friends. Recently the app has recently received the funding to make this dream of coupling sports betting and social interaction a reality.

About Wagr

Wagr is a gambling app that was founded in April 2020. The app is unique in that it allows fans to bet on sports with friends, rather than betting against the house. The goal is to revolutionize sports betting in an attempt to tap into an entirely new market of customers who may feel intimidated by the traditional sports betting experience. The app will also give users the opportunity to engage in new and unique sports betting opportunities that allow them to place wagers against their friends, while talking trash and engaging in friendly banter across their app.

Mario Malave sat down and spoke with Yahoo Finance about the revolutionary app, and the company’s plans to change the way people place wagers on their favorite sports. Malave shares that there are three components of traditional sportsbooks that Wagr hopes to change. First and foremost, traditional sportsbooks pit users against the house, meaning the house only makes money when the user loses it. Secondly, these sportsbooks are not intuitive enough to provide an inclusive experience to new users. Finally, these sportsbooks have primarily been marketed exclusively to men. Wagr has set out to address these challenges in a way that no other sportsbook has.

Since the legalization of sports betting in the United States, an entire culture of sports betting has emerged. Professional sports throughout the country are flooded with sports betting advertisements and promotions, and professional sports teams and venues have struck partnerships with prominent sportsbooks and apps. This culture has created a buzz of social conversation, and Wagr hopes to provide a more tangible home for that conversation. In recent months, the app has received significant funding to make these dreams a reality.

Funding the Change

Reddit Inc. co-founder and founder of Seven Seven Six Alexis Ohanian is heading a $4 million seed-funding round for Wagr. Ohanian shared his own belief in the app’s future, saying it provides a platform for the culture that has already been established throughout the country. Ohanian also spoke with Yahoo Finance, sharing his interest in sports betting. “I don’t consider myself a gambler but my friends and I really enjoy just thew thrill of talking trash and backing it up with a few bucks.”

Wagr’s goal is to take this exact experience and market it to casual gamblers throughout the country, and they could not have found a better partner than Ohanian, whose Reddit platform thrives under peer-to-peer interactions. Ohanian shared his belief that Wagr is a reflection a larger social phenomenon that has brought about the intersection of community and capital, or social media and finance. The proof of this phenomenon is most evident in the influence that Reddit has had on “meme stocks,” causing seemingly irrelevant stocks like GameStop rise to unprecedented numbers through buzz created through social interaction on the site. However, Ohanian and Wagr believe that this new phenomenon is much more than a meme, and that the next decade could bring about an even greater overlapping of finance, including sports betting, and community engagement.

In addition to funding from Ohanian’s Seven Seven Six, Wagr is also backed by Greycroft, Pear Ventures, Tinder co-founder Justin Mateen, and former chairman and chief executive officer of Saks Inc. Brad Martin.

Betting on Wagr’s App

Malave shared that the goal for Wagr is to start slow, with simple wagering options and steadily build the platform based on user interactions. Initially, Wagr will only offer point-spread bets. Users who are looking for an entry point to the world of sports betting will not be bombarded with an overwhelming number of wagering options that are often found on other apps or sportsbooks. The goal is to make it simple to pick a team and the amount you want to wager, and then place your bet.

Wagr will offer lines for a number of major sports and plans to introduce prop bets or money-line wagers in the future. The reason that the app is focusing on points-spread first, according to Malave, is because they lend themselves to the peer-to-peer model that the app aims to create. With the app, users will place a wager on one point spread or the other, often with a friend, family member, or another person in their social circle, setting the stage for the ensuing banter. If a user is unable to find a friend who is interested in taking a bet, then the app will match them with someone in their state who does.

Wagr plans to have users pay a platform fee for using the app, giving them access to an app that offers the odds, payments, and platform for trash-talking. The app’s fees will be comparable with traditional sportsbook or casino fees. The app currently has pending license applications to operate in Tennessee and Virginia.

BetMGM Launches Sportsbook at Nationals Park

BetMGM announced last Thursday that it will officially be launching its mobile sports betting app at Nationals Park, as part of its partnership with Major League Baseball’s Washington Nationals. The announcement makes BetMGM the official exclusive sportsbook of Nationals Park and is part of a larger deal that will also bring a retail sportsbook to the ballpark later this year. The launch of the mobile sportsbook marks a significant milestone for the Nationals, but also the MLB, who has had a complicated past with sports betting.

Details About the App and Sportsbook

BetMGM’s mobile sportsbook is officially available for download for both iOS and Android devices in Washington, D.C. However, the app is unique in that it can only be accessed within range of Nationals Park. Due to local gambling laws, those interested in placing wagers on the BetMGM app must do so within a two-block radius of the ballpark. That being said, the BetMGM app and sportsbook will integrate with MGM Resorts’ M life Rewards program, giving fans the opportunity to redeem gameplay for rewards at MGM Resorts properties throughout the country. Both the Washington Nationals and BetMGM hope to use the app to revolutionize the fan experience, giving them access to sports betting lines that make them feel like they are part of the action.

Adam Greenblatt, CEO of BetMGM, has shared that the new partnership is part of the company’s plan to continue expanding within the region, building on the success they have found at their new Virginia locations. Both BetMGM and the Washington Nationals feel that the launching of the new sportsbook is a monumental moment for innovating the fan-experience. Alan Gottlieb, Chief Operating Officer of Lerner Sports Group, praised BetMGM for giving fans a mobile app that will allow them to directly interact with what’s happening out on the diamond, and went on to express that the retail sportsbook will provide fans in the community with “a first-class gathering place to celebrate their passion for sports.”

Continuing the New Trend for Professional Sports

Later this year, a team merchandise store will be converted into the retail sportsbook location that will be open seven days a week, year-round. The sportsbook will be connected to the stadium with a street entrance, but fans at the game will not be able to enter the sportsbook from inside the stadium. Per MLB rules, the retail location may not be accessible from within the stadium. The rule is a lingering reminder of the league’s previous stance against sports betting, but that stance may change even more in the coming years.

BetMGM’s sportsbook at Nationals Park is the second sportsbook to open at a professional sports venue in the District this year. In late May, the Capital One Arena, home of the Washington Capitals and Washington Wizards, opened their William Hill sportsbook. At the time, it was the first of its kind in Washington D.C., but now the Washington Nationals are getting in on the action. Illinois has also approved legislation that will allow for sportsbooks to become operational within professional sports venues, and Wrigley Field in Chicago has partnered with industry leader DraftKings to launch a sportsbook of their own. The increased interest in the cross-over between sports and gambling is relatively unchartered territory and marks a significant shift that indicates the wider social acceptance of sports betting in the United States since the Supreme Court’s 2018 decision to allow states to create legislation allowing sports betting.

Professional sports in the United States have traditionally shunned the idea of this cross-over, fearing that the mingling to sports and sports betting could lead to infamous issues like the controversy that surrounded Pete Rose, after he was involved in a betting scandal that impacted his career in the MLB. Now the league is trying to balance the lure of sports betting revenue, while maintaining the integrity of the game and avoiding turning away fans and families who may have no interest in gambling.

Representatives for the Nationals and the MLB are now toeing that line with the introduction of sports betting into Nationals Park. Their ability to maintain the balance could have larger implications for the future of sports betting and professional sports venues throughout the country.