Twice weekly, we’ll comb through as many articles, tweets and podcasts as we can find related to the world of sports betting and daily fantasy sports, and publish the good stuff here.
Stumble upon something you think we should include? Email info@bettingtalk.com.
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A source told ESPN that a congressional hearing is set to take place next month to discuss the legality of daily fantasy sports, sports betting and online gambling.
The Subcommittee on Commerce, Manufacturing, and Trade plans to hold the hearing May 11, the staffer, who is a Democrat, said. The committee will consider the legal status of daily fantasy, online gaming and sports betting and to what extent proactive consumer protections are needed.
The hearing was requested in September by Rep. Frank Pallone, D-N.J., after a barrage of daily fantasy advertising hit the airwaves and industry leaders DraftKings and FanDuel came under fire for allowing employees to compete in cash games on other sites.
A Betting Talk forum member claims to have placed a $1 bet to win $5,000 on Leicester City winning the EPL.
Gods honest truth. Don’t post much but almost to the biggest payday of my gambling life. Its only for 1.00.Made it at 5dimes back in Sept. Been sitting on it all this time and have not hedged anything.
We asked Betting Talk member “beefcake” a couple questions about his bet.
BT: What made you decide to place this bet on Leicester City?
beefcake: “In September I noticed that Leicester was 3-0 and was playing very well. I have always liked betting very large futures bets and 5Dimes offers very small minimums so I thought this would be the ultimate value play. I still consider this a very lucky bet as I am not a big soccer capper by any means. I had also placed small future wagers on Swansea and Crystal Palace which as you see flamed out, so I really just got lightning in a bottle.”
BT: What has it been like for you following Leicester City’s surprising season with this bet placed?
beefcake: “Well its actually been quite nerve-racking the last few weeks. At first, from September to December I just kept following the standings and seeing them play well — just continued to keep me following them. After December they really started to get much more publicity, and I found myself really starting to root hard for them not just because of the money, obviously, but what this means to soccer around the world. This team was almost relegated last year and had to fight and scrap for every point to stave it off on the last day. Now to do what they are doing is nuts!! I have thought about hedging it for a few weeks now, and I think I will this week as the field is available for about +385. I am in a real good situation, and even though the math says that they will win and the bookies say so at -700, something tells me they might start to feel the pressure now that the reality is setting in on the possible accomplishment. Either way, I think I beat the closing line on this one!!”
In a feature, Jason Schwartz explores how DraftKings wooing of key people in the Boston may have helped keep the industry alive.
Healey says her decision to form regulations — which could affect the fortunes and futures of DraftKings and its largest competitor, FanDuel, throughout the country — was based upon a strict reading of Massachusetts law. But it was also made with very clear political realities lurking in the background. For all its missteps, DraftKings has done one thing masterfully over the years: woo the city of Boston. From the tech whizzes who drive the area’s economy to the politicians on Beacon Hill, the company is stocked with allies. New England Patriots owner Robert Kraft — who recently sponsored a major initiative against youth violence with Healey’s office — is a DraftKings investor. Healey’s old boss and mentor, former Massachusetts attorney general Martha Coakley, works as an adviser for DraftKings, pressing the firm’s interests all over the country. And Boston Mayor Marty Walsh is so eager to see the business succeed that his chief of staff checks in regularly with Robins to see whether there’s anything he can do to help.
In short, if Healey had tried to shut DraftKings down, she would have had to buck virtually the city’s entire power structure. But by casting the industry a lifeline instead, the anti-gambling attorney general did something even more intriguing: She made herself a key player in the future of daily fantasy.
An Iowa senate committee introduced a bill to legalize, regulate and tax daily fantasy sports in the state. Games would be subject to state taxes of 7.5 percent of adjusted gross revenues.
“This is a phenomenon growing in Iowa, whether you like it or not, and this is a way to regulate it,” said Sen. William Dotzler, D-Waterloo, who chaired the three-member subcommittee. “This does a lot to clear up problems we had been hearing about.”
A Seton Hall University poll found that 63% of Americans believe that sports betting should be legal.
Respondents also overwhelmingly believed states should be allowed to determine the legality of sports betting. Poll respondents were asked “Do you think states should be free to decide whether to legalize betting on sporting events or should sports betting be regulated by the federal government?”
NBA owners are meeting this week and are expected to approve allowing teams to put advertising on jerseys.
The ads, according to ESPN, would be located in a 2.5-by-2.5-inch patch on the left shoulder of jerseys. Half the revenues generated from the sponsorship money made from jersey ads would go to the team, while the other half would be added to the league’s revenue-sharing pool for all teams.