Sports Betting Stock News – Why Some Are in the Tank

January 12, 2022 by Leave a Comment

A bevy of top companies in the sports betting space, headlined by DraftKings, ended 2021 near 52-week lows as losses for some of the companies accelerated in December.

The continued sell-off presents a buying opportunity for bullish investors in the nascent U.S. sports betting industry, with several prominent states in line to legalize sports wagering in 2022. At the same time, the slump among top gaming stocks gave short-sellers another chance to thump their chests in December.

DraftKings ended the year as one of the most heavily shorted stocks on the market, as concerns about the company’s long-term profitability persist. As of Dec. 15, short interest in DraftKings topped $1.1 billion, according to Ihor Dusaniwsky, managing director of Predictive Analytics at S3 Partners LLC. With more than 39 million shorted shares on Dec. 13, the company set fresh record highs for short interest as percentage of float, Dusaniwsky told Sports Handle…

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PointsBet Adds NFL Legend Drew Brees to Team

July 7, 2021 by Leave a Comment

Denver, CO – PointsBet, a premier global online gaming operator, today announced that NFL all-time great and future Hall of Famer Drew Brees has officially joined the PointsBet team. Brees, who this season is transitioning from signal caller to a broadcasting career with NBC Sports – PointsBet’s official sports betting partner – will deepen the NBC Sports and PointsBet relationship as he forays into the sports betting landscape to contribute as a PointsBet global brand ambassador while the company continues to expand and realize the growing online gaming opportunity in 2021 and beyond.

“Today is a massive day for our company as we welcome Drew Brees into the PointsBet family,” said Johnny Aitken, PointsBet USA CEO. “Drew is renowned for his tireless work ethic and achieved great success in his career regardless of the obstacles in front of him, possessing the scrappy, well-prepared challenger, win-at-all-costs mentality that embodies PointsBet’s DNA. We look forward to collaborating for years to come and integrating Drew across our portfolio to complement PointsBet’s market-leading technology infrastructure and strategic approach to the competitive sports betting space.”

As part of the exclusive, multi-year relationship, Brees will also become a significant PointsBet shareholder, taking an equity stake in the company to further illustrate the shared vision. Brees will both star in and help develop original content for PointsBet, lead watch parties, and steer marketing and promotional concepts, among other areas.

“I am excited to team up with PointsBet, a leader in the future of sports entertainment built off elite technology,” said Brees. “Sports betting is growing across the country and will positively impact sports engagement, and I am proud to be at the forefront alongside PointsBet and NBC Sports.”

As the official, exclusive sports betting partner of NBC Sports, PointsBet will utilize the media giant’s premium television and digital assets to promote the PointsBet brand. As part of the agreement, NBC Sports provides PointsBet with year-round, multi-platform media and marketing opportunities across its unmatched portfolio of events, including exclusive multiplatform gameday integrations across NBC Sports Regional Networks. PointsBet’s full Spanish-language functionality will reach Hispanic sports fans via Telemundo Deportes and Telemundo broadcast stations.

About PointsBet

PointsBet is one of the fastest growing online gaming operators in the U.S. and is rapidly expanding its footprint, currently bringing its best-in-class proprietary technology, modernized and premium brand mentality, expert trading practices, and proven growth marketing strategies to the burgeoning sports betting markets of Colorado, Illinois, Indiana, Iowa, Michigan, and New Jersey. Originally founded in Australia, PointsBet is a cutting-edge online gaming operator that prides itself on having the quickest and most user-friendly app (iOS and Android) while also providing the best content and experience for sports bettors. PointsBet is the only U.S. sportsbook to offer PointsBetting – a unique and innovative way to bet – and has also introduced a slew of well-received, bettor-first initiatives. PointsBet offers the most markets on all major U.S. sports (NFL, NBA, WNBA, MLB, NHL) and PointsBetting in the world. For more information, visit www.PointsBet.com.

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Fix-odds Horse Racing Could Become a Reality

June 30, 2021 by Leave a Comment

Fixed-odds betting on horses in New Jersey could spark changesBetMakers, headquartered in Australia, cut a 10-year deal with Monmouth Park in early 2020 to provide the infrastructure to deploy fixed-odds wagering, just as soon as it is made legal. The company also has agreements with Colonial Downs, Emerald Downs, Grants Pass Downs, Lone Star Park and the FanDuel site at Fairmount Park, plus three tracks in Canada.

Conspicuous by their absence, though, are the big boys and girls. The Stronach Group (its 1/ST Bet is a VSiN sponsor), the New York Racing Association and Churchill Downs Inc. are not yet on board. Their economic models are based on pari-mutuel wagering, and they no doubt would want a big piece of the action from the likes of BetMakers before allowing their races to be part of the fixed-odds menu.

Read O’Crunk’s take on the NJ Fixed-odds prospects

Eventually, however, they will fall in line. The public will demand it. This is not like the simulcast nickels and dimes that CDI and Nevada have been fighting over for close to two years. These are big bucks at a time when per-race betting has actually grown, in part because the sport never stopped during the pandemic. Anyone invested in the business of thoroughbred wagering will not want to lose out…

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Fixed-Odds Horse Racing Is Coming to This State

June 24, 2021 by Leave a Comment

Las Vegas sportsbook contestAll signs indicate that New Jersey will become the first state to offer fixed-odds betting in horse racing. More importantly, next month N.J. Gov. Phil Murphy will be placing the first such bet July 17 at the Grade 1 Haskell at Monmouth Park.

This is the same location where Murphy made the first legal wager in NJ sports betting history.

On Monday, the Senate voted 40-0 in favor of the “Fixed Odds Bill” after amendments were made to accommodate the horsemen groups and stakeholders. The bill was then declared passed after a unanimous 71-0 vote in favor by the General Assembly.

The bill went to Murphy’s desk earlier this week, according to Bill Pascrell III, a partner at Princeton Public Affairs Group. He has been a leading advocate for the legislation for the past two years.

“Governor Murphy reviewed the legislation leading up to [Monday’s] vote, there aren’t any issues, it’s now just a matter of dotting the i’s and crossing the t’s,” Pascrell said.

Pascrell said Murphy’s general counsel has already instructed the regulators to draft rules, and that the governor looks forward to being the first one to place a fixed-odds horse racing bet in the country…

In responding to national interest about bringing fixed-odds betting to other states, Pascrell has been traveling the country the past two weeks meeting with officials.

“We’ve had a good long call with Colorado … and there are multiple other states that are moving in this direction – I just don’t want to name them so that I don’t upset the apple cart – but I anticipate fixed-odds horse race betting will be in other states by the end of 2021,” said Pascrell…

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