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TagResults 1 - 10 of 45 for Sports Betting. (0.01 seconds)

U.S. gaming industry hanging hopes on stimulus package
Hit hard by the coronavirus pandemic, the American gaming industry, including the expanding legal sports betting market, is optimistic the federal relief bill signed into law Friday by President Donald Trump will help its recovery. The $2 trillion CARES Act provides emergency liquidity, tax relief and additional support for small businesses, among other measures that could benefit the gaming industry. The funds will be allocated to states then apportioned to individual industries based on eco ...
Mar 31, 2020, 8:47 am - Lottery News forum

Oregon Lottery will lose money on sports betting this year
Agency cites higher start-up costs, lower margins and less betting activity than it expected Oregon Lottery Director Barry Pack will present some unwelcome news at the Lottery Commission's monthly meeting on Feb. 28. Scoreboard, the agency's new mobile sports betting app, will lose money for the fiscal year that ends June 30. Lottery will have a loss of $5.3 [million] from the program for the first nine months of FY '20, Pack said in a memo prepared for that meeting. Prior to launching ...
Feb 25, 2020, 7:17 am - Lottery News forum

Questions surround D.C. lottery and gambling contract, but high-level D.C. staffer says it's fine
Several D.C. Council members are asking whether the $215 million lottery and sports gambling contract the council approved this summer fulfills local business subcontracting requirements. This week, they got an answer from a high-level District staffer: Everything's fine. Yes, the contract is compliant with D.C. law requiring companies with large public contracts to subcontract some of the work to local businesses, Kristi Whitfield, director of the department responsible for monitoring compl ...
Sep 18, 2019, 9:54 am - Lottery News forum

The little firm that got a big chunk of D.C.'s lottery and sports gambling contract has no employees
The Greek company Intralot, which last month received a $215 million contract to bring sports gambling to the nation's capital and to continue running its lottery, says more than half the work will go to a small D.C. firm a condition that helped the gaming giant win the no-bid contract. The firm, Veterans Services Corp., will perform the ENTIRE subcontract with its own organization and resources, according to a document signed this summer by a top Intralot executive. District law requires ...
Sep 2, 2019, 6:36 am - Lottery News forum

Wisconsin man wins $1.19M on his first sports bet
James Adducci flew to Las Vegas from his home in Wisconsin on April 9 with the notion of placing an $85,000 wager on golfer Tiger Woods to win the Masters. Woods had not won one of the four PGA major tournaments since 2008 and was at 14-to-1 odds when the bet was placed at the William Hill US sportsbook inside the SLS Las Vegas. Adducci admitted his first-ever sports bet was a longshot. Golf was so special for my dad and me, Adducci said. We know how it ended. Woods' historic victor ...
Apr 16, 2019, 10:28 am - Lottery News forum

Sports betting at Yankee Stadium? It could happen under New York legislation
A sponsor of sports betting legislation in New York said the bill likely would allow for in-person wagering at places like Yankee Stadium and Madison Square Garden. Assemblyman Gary Pretlow said Friday the legislation he announced this week is being tweaked and will have that provision unless he receives strong opposition. That is one of the changes, that we would open it up to have affiliates such as Madison Square Garden, which has expressed an interest in doing this, the Westchester Co ...
Mar 4, 2019, 9:03 am - Lottery News forum

Iowa Lottery prepared to take sports bets if lawmakers approve
On Wednesday the Iowa legislature began what will likely be a long conversation over legalizing sports gambling in Iowa. A legislative subcommittee considered four separate bills on Wednesday that would legalize betting on professional and collegiate sports. A 2018 US Supreme Court ruling lifted the federal moratorium on the activity. Delaware was the first state to take advantage of the ruling and begin taking bets on sports. Their system allows sports gambling at casinos as well as at lo ...
Feb 7, 2019, 12:41 pm - Lottery News forum

CT Lottery all-in on sports betting in state
The Connecticut Lottery is making a big push to include sports betting across the state. Sports betting is a top priority for this year's General Assembly session and Governor Lamont is on board with the concept. One year after a big blunder with a special New Year's super draw game in 2018, which has been attributed to human error, the new president and CEO of the Connecticut Lottery is touting that last budget year, the lottery games made $345 million for the state and gave out about $80 ...
Jan 17, 2019, 8:13 pm - Lottery News forum

DOJ reverses 2011 opinion of the Wire Act; legal online gaming in question
The U.S. Department of Justice's legal counsel office reversed a 2011 opinion that the Federal Wire Act applies only to sports betting, potentially throwing the small U.S. Internet gaming market into question. A 23-page opinion is dated Nov. 2, 2018 but became public Monday. Justice Department attorneys said they have, Based on the plain language of the issue, we reach a different result from the 2011 opinion of the 1961 Act. While the Wire Act is not a model of artful drafting, we conclu ...
Jan 14, 2019, 8:15 pm - Lottery News forum

New Mexico Lottery creating game tied to sports
The board that oversees the New Mexico Lottery voted unanimously Tuesday to move forward with creation of a game tied to the outcome of sporting events. David Barden, the lottery CEO, said he expects the game to go on sale in four to six months. Details of the game are being worked out, but it will involve a parlay-like wager. A player will pick possible outcomes of at least three sporting events and will have to choose all correctly to win. It's not your grandmother's lottery game, Ba ...
Oct 31, 2018, 10:57 am - Lottery News forum

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