Would Sports betting hurt or help Washington’s horse-racing industry?

When the U.S. Supreme Court held the Professional and Amateur Sports Protection Act (PASPA) unconstitutional in May 2018, it left the decision whether or not to regulate and tax sports betting up to each state.

In Washington state, there are several stakeholders in the debate over potential regulations, ranging from behavioral health advocates to Washington’s tribes. Another eyes the impending, burgeoning industry with what seems to be a complex combination of worry and hope: horse racing.

Doug Moore, the Executive Secretary of the Washington Horse Racing Commission (WHRC), represented the WHRC at the Washington State House Commerce & Gaming Committee work session last week. Moore showed that the horse-racing industry in Washington has experienced a steep decline in recent years as other forms of gambling have been introduced — with the most significant impact hitting after the first tribal casino opened in 1991…

Is Fantasy Football A Game of Skill or A Game of Luck?

Skill or Chance fantasy sports

DALLAS – DEC 14: Taken in Texas Stadium on Sunday, December 14, 2008. Dallas Cowboys Quarterback Tony Romo waits for the snap from the center.

We could talk all day about probability theory, the law of large numbers, the gambler’s fallacy, Bertrand’s box paradox, the Monty Hall problem and other brain-teasing puzzles of probability and still fail to come to grips with Derrick Henry’s improbable fantasy football performance on Thursday (12/6/18) for the Tennessee Titans.

You could not have predicted the running back’s near 50-point performance. And nobody did because Henry wasn’t even the most productive fantasy back on his own team before re-entering the American sports consciousness for the first time since 2015 when he won the Heisman Trophy while playing at Alabama.

There was good news and bad news in all this, depending on your league and your perspective. Unless you play in a touchdown-only league or a very large standard league, chances are you weren’t victimized by Henry’s career day in Nashville, because your opponent had him on the bench. Nor did you benefit, because you also had him benched.

NY and CA are prime examples of why all states don’t have sports betting . . . yet

New York and California are prime examples of why all states don’t have sports betting . . . yet Off Shore Gaming Assocation Hartley examines why just a handful of U.S. states have passed sports betting laws, despite the repeal of PASPA nearly seven months ago.

Source: NY and CA are prime examples of why all states don’t have sports betting . . . yet

Daily Fantasy Tax Reporting

Sports betting“At the onset of Daily Fantasy Sports, there was much debate as to what type of “activity” individuals are engaging in. The IRS determined that playing DFS was a game of skill and technical ability. Players had to develop a strategy, research athletes, and build a team that will gain the most points possible in order to win a “set prize.” Compared to gambling activities, where the IRS views those activities as a game of “luck,” winning an undeterminable amount (the professional gamblers in the community would disagree). This distinction caused DraftKings and Fan Duel to mail out Form 1099-Misc to their participants. This opens up DFS income into a grey area of taxation. Is your playing style a hobby or full time job/business? We will discuss further.

Note: You cannot write off gambling losses against your DFS income. They are two different activities with different tax rules. Sorry!

If you have winnings of over $600 from any daily fantasy sports site, such as FanDuel or DraftKings, you will likely receive a Form 1099-MISC with the amount shown on Box 3. It is advised that you to report all earnings on your income tax return and not just earnings reported to you on a 1099-MISC or other tax forms…”

Daily Fantasy Tax Reporting.  Read the rest below.

RotoGrinders: Daily Fantasy Tax Reporting

EquiLottery Rebrands to Include Sports

CEO Brad Cummings

CEO Brad Cummings

EquiLottery, a gaming company best known for its live horse racing lottery game Win Place Show™, is transitioning its corporate identity and evolving its mission to better serve its lottery customers. Rebranded as EquiLottery Games, the company will expand its pioneering vision for live sports lottery games from a single horse racing product to now include baseball, basketball, football, golf, hockey, soccer and stock car racing.

These games are built on the same patented platform as Win Place Show, EquiLottery Games’ flagship product based on the results of live horse racing. Win Place Show will be launched on a trial basis by the Kentucky Lottery in March of 2019.

“We have always been a future-focused company, leading the way on products that combine the excitement of live sports with the lottery draw experience,” said EquiLottery Games CEO Brad Cummings. “Our original vision was to introduce live horse racing to new fans through government lotteries. We have now expanded our offerings to include lottery games based on all live sports. This solves a pain point for lotteries by allowing them to offer a form of sports wagering through their existing statutes and retail channels with low-risk games designed to appeal to their player base.”

EquiLottery Games will now introduce six new games for lotteries to offer their players in addition to Win Place Show. The team sport parlay game allows players to buy lottery tickets based on a slate of ten games from the big five professional sports in the U.S. — baseball, basketball, football, hockey and soccer. Matching the winner of all ten games returns an estimated top prize of $1,000. Car Cash features tickets listing three drivers in a 40-car race and pays out an estimated $50,000 top prize. Golfing for Gold is based on a ticket featuring three golfers and pays an estimated top prize of $2,000,000. All games are quick pick only, meaning the randomization happens at the pick while the draw is a live, authentic sporting event.

All EquiLottery duties will be assumed by EquiLottery Games, including the preparation for and launch of Win Place Show by the Kentucky Lottery beginning March 24, 2019. For more information on these new live sports lottery games, including specifics on how they work, as well as the vision for EquiLottery Games, visit www.EquiLotteryGames.com.

Press release

How DFS sites FanDuel and DraftKings are taking aim at the world of sports gambling

How daily fantasy sites FanDuel and DraftKings are taking aim at the world of sports gambling

New York Daily News Full coverage: How daily fantasy sites FanDuel and DraftKings are taking aim at the world of sports gambling

Study States that Sports Betting Could Help Sports Attract Younger Fans

Las Vegas sportsbook contestSports-betting adults are more affluent, younger, more diverse and better educated adults than the general population, according to an American Gaming Association (AGA) commissioned study from Nielsen Sports.

The research identifies groundbreaking demographic and behavioral characteristics of self-identified bettors who the AGA believes will populate the future legal U.S. betting landscape. A second, forthcoming element of the project will estimate the amount of revenue this demographic can help unlock for the major U.S. sports leagues….

Find the Full PDF Report from American Gaming Association

Ohio sports wagering could open ‘floodgates,’ Ohio Lottery director says

Las Vegas sportsbook contestProspect of Ohio sports wagering opens ‘floodgates’ with interest, Ohio Lottery director says cleveland.com

Full coverage: Prospect of Ohio sports wagering opens ‘floodgates’ with interest, Ohio Lottery director says

Sports betting has “serious consequences” for Pro Players

“As a growing number of the various states move toward adopting legalized gambling, the sports leagues have concerns. The players associations do, too.

There are serious consequences, particularly for the athletes,” NFL Players Association V.P. for business and legal affairs Casey Schwab told David Purdum of ESPN.com. “Because of those consequences, the athlete’s voice must be heard, particularly as we contemplate sports betting in the country.”

The athlete’s voice can be heard, but the entities setting up the wagering programs don’t necessarily have to listen. For years, don’t-call-it-gambling-gambling on fantasy football has existed, with individual player performance residing at the heart of the process. And the athlete’s voice hasn’t been heard…”

Source: NFLPA exec: Sports betting has “serious consequences” for players

New Sports Show to Air on TVG

The Barstool Sports Advisors to Debut this Sunday

TVG, America’s national horse racing network and an affiliate of FanDuel Group, announced the launch of its first ever live, integrated Sunday morning sports betting pregame show, More Ways to Win, and the premiere of Barstool Sports new syndicated program, The Barstool Sports Advisors.

“The expansion of our Sunday morning programming, including our partnership with Barstool Sports, will bring a whole new audience to our network for a mix of sports betting, news and daily fantasy content that’s relevant to their interests,” said Kip Levin, CEO of TVG Network and COO of FanDuel Group. “Our Sunday morning programming will now offer up-to-the-minute sports betting information, football news, and expert opinions and insights to complement our customary coverage of the best in live horse racing from around the world. The integration of fantasy and sports betting content into our television assets provides a unique, unmatched marketing platform for the FanDuel Group.”

Beginning at 10 AM ET on Sunday, September 9, TVG will debut The Barstool Sports Advisors, a look at the Sunday slates in a way that only Barstool Sports can deliver. The show will be hosted by Barstool Sports personalities Daniel “Big Cat” Katz, Stu “The Source” Feiner, PFT Commenter, and Barstool Sports founder, Dave Portnoy. The thirty-minute syndicated program will be followed by a separate thirty-minute show exclusive to TVG.

“I’ve been a fan of TVG forever and I’m excited to bring Barstool Sports to the network,” said Dave Portnoy, founder of Barstool Sports.

Skill or Chance fantasy sports

DALLAS – DEC 14: Taken in Texas Stadium on Sunday, December 14, 2008. Dallas Cowboys Quarterback Tony Romo waits for the snap from the center.

The Barstool Sports Advisors will lead in to TVG’s newest studio show, More Ways to Win, which will premiere Sunday, September 9 at 11 AM ET. The live two-hour studio show, hosted by former ESPN and SportsCenter anchor Lisa Kerney, will prepare viewers for Sunday’s games and races with a mix of football news, sports betting information, fantasy news, and live data integration all in one program. More Ways to Win will translate the news of the day into actionable items for sports betting and fantasy consumers. In another groundbreaking move, More Ways to Win will feature live reports from the FanDuel Sportsbook at the Meadowlands Racetrack in New Jersey, putting viewers at the center of the action at the only US sportsbook next to a professional football stadium. Additionally, the show will include horse racing from the biggest tracks in the United States, with TVG experts providing commentary.

Kerney will host More Ways to Win, quarterbacking an experienced team of sports experts. Dani Klupenger, a seasoned football host and sideline reporter, will keep viewers up to date on the latest news and Fox Sports 1’s Jason McIntyre will provide analysis and sports betting information that every sports fan will need for the day. TVG’s Dave Weaver will report live from the FanDuel Sportsbook at the Meadowlands Racetrack, and Brandon Funston of The Athletic will provide fantasy news and insights.
“Our goal is that More Ways to Win will revolutionize sports betting news and information in the same way CNBC changed television coverage of the stock market,” said Kevin Grigsby, Executive Producer of More Ways to Win and Senior Vice President of Content Development at TVG. “TVG’s proven experience with live sports programming, along with our world-class cast of talent will make More Ways to Win an innovative Sunday offering for any sports fan waiting for kickoff.”

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Available in a combined 60 million homes, More Ways to Win, The Barstool Sports Advisors, and all of TVG and TVG2’s content is available on Apple TV, Amazon Fire, and Roku via the new Watch TVG App. The international racing programming previously shown in the Sunday 11 AM ET timeslot on TVG will now be available on TVG2.

New TVG Lineup on Sundays

The Barstool Sports Advisors 10:00 AM ET
The Barstool Sports Advisors After Show 10:30 AM ET
More Ways to Win 11:00 AM ET
TVG Horse Racing 1:00 PM ET
More information on More Ways To Win hosts:

Lisa Kerney is formally a sports anchor and reporter at ESPN. Lisa anchored SportsCenter, Fantasy Football Now during the professionall football season and hosted ESPN’s first-ever internal podcast called “Stay Curious with Lisa Kerney.” Kerney joined ESPN in February 2014 as a studio anchor, appearing on various shows across several ESPN platforms.

Fox Sports 1’s Jason McIntyre is a TV host on FS1’s “Speak for Yourself” and hosts a Fox Sports Radio Show on Saturdays at 10 am. He is the founder of The Big Lead, a sports website that was acquired by Fantasy Sports Ventures in 2011. Previously, he was an award-winning writer at the Bergen Record (NJ), and a reporter and editor at Us Weekly.

Dave Weaver is a television host, reporter and analyst for TVG, America’s horse racing network, since 1999. Dave has covered major events such as the Preakness Stakes, Belmont Stakes, Breeders Cup World Championships and Hambletonian. Professional handicapper and part-owner of 3-time Breeders Cup participant War Story, which won $2.6M in earnings.

Dani Klupenger is a reporter for both professional and college football. She currently covers the Seattle Seahawks for NBC Sports Northwest and the college sidelines for Stadium Network. She previously was the team reporter for the Los Angeles Rams, preseason sideline reporter for CBS-LA and co-hosted “What The Hekk” on ESPN Los Angeles radio. A former Division-1 basketball player, Klupenger also has contributed as an analyst and reporter for various networks such as the SEC Network and ESPN3.

Brandon Funston is a fantasy expert/editor for The Athletic. One of the original online “faces of fantasy sports,” Funston has been working with leaders in the industry for more than 20 years – formerly with ESPN and Yahoo. In 2011, his work was recognized with induction into the Fantasy Sports Writer’s Hall of Fame. Funston, who also produces The Fantasy Record podcast and co-hosts a weekly fantasy football show on Sirius XM radio, resides in the Pacific Northwest with his wife and two kids.

*The debut of The Barstool Sports Advisors is subject to pending regulatory approval.