Duke’s national championship odds lengthened following Zion Williamson’s freak injury that happened earlier this week in a game against North Carolina.
Williamson fell awkwardly 36 seconds into the game, limped back to the locker room and was ruled out for the remainder of the contest.
Duke remains the consensus national title favorite in Las Vegas, but Caesars Palace lengthened the Blue Devils’ odds from +200 to +250 after the Williamson injury.
Duke has attracted by far the most betting support. More than twice as much money has been bet on the Blue Devils to win the national title as has been bet on any other team at Caesars Palace and William Hill sportsbooks. Twenty percent of the money that has been bet on William Hill’s odds to win the national championship was on Duke as of Wednesday.
The Action Network has raised $17.5 million in funding with investors including owners of professional sports teams.
“With sports betting now legal in eight states and more than a dozen other states considering legislation to legalize, we see an incredible opportunity,” Keane said in the statement.
The investment was led by Fertitta Capital, a private equity firm formed by brothers Frank and Lorenzo Fertitta after they sold Ultimate Fighting for $4 billion in 2016. The Fertittas are longtime casino owners who hold a controlling stake in Red Rock Resorts Inc. While they have experience with sportsbooks, the investment by Fertitta Capital is its first in sports betting outside Nevada.
“We want it to be an enabler of engagement and activity,” said Fertitta Capital CEO Nakisa Bidarian. “And we think Action Network is the best place to do that.”
Also contributing were Blackstone Group’s David Blitzer, co-owner of the Philadelphia 76ers and New Jersey Devils; the owners of the Chicago Cubs; 6721 Capital, a new fund formed by sports marketing executive Casey Wasserman and the investment banking firm Code Advisors; and BitKraft Esports Ventures, the world’s first esports-specific venture capital fund.
Connecticut Governor Ned Lamont wants legislators in his state to legalize sports betting (along with recreational marijuana).
The Democrat did not include details about either concept in his new two-year budget, which he unveiled on Wednesday.
But Lamont listed sports betting, internet wagering, and marijuana legalization among the new sources of revenue that must be enacted. During his address, Lamont said legalizing recreational marijuana like Connecticut’s neighbors ‘‘will make for a safer market that will be carefully regulated and taxed.’’
Kansas lawmakers are reviewing multiple options for sports betting.
Rep. Francis Awerkamp gave the Senate Federal and State Affairs Committee an update on proposals to allow sports betting. He said Kansas casinos and the lottery are discussing four options.
One allows wagering at casinos and through casino’s mobile apps and websites.
A second would run the mobile app through the Kansas Lottery.
A third option involves an app and locations managed through the lottery, including bars, restaurants, casinos and race tracks.
A fourth option would have apps for both the lottery and casinos.
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