Odds Shift in Battle For Sports Betting Supremacy: Part II

The post Odds Shift in Battle For Sports Betting Supremacy: Part II appeared first on SportsHandle.

In Part II of this look at the major players in the highly contested race for dominance in the emerging business of legalized sports wagering, Sports Handle continues its examination of prospective operators as they try and plant their corporate flag in the various states legalizing sports betting. Read Part I here.

We continue to use our “futures book” format to handicap prospects and developments in the wake of the U.S. Supreme Court ruling in May, in which the high court overturned the federal law that had banned single-team sports betting in every state except Nevada. And we reconsider what we predicted in the beginning of March, and what we might expect in the immediate future.

Our future book odds have been adjusted accordingly.

With an Expansion of Legal U.S. Sports Betting as More Sports Betting Legislation Passes, Which Operators Will Reign Supreme? Handicapping the Field. GVCLadbrokesCoral:  301 opening line 20-1

It’s hard to believe the combination of these major European brands, through recent mergers and acquisitions, has for the most part been non-factor in the emerging U.S. sports wagering marketplace. The exception is Scientific Games’ usage of its “Stadium” betting platform in Delaware.

As we pointed out in March, this conglomeration has the biggest share of the betting action in the UK, Germany and Italy. poker indonesia There’s been no announcement of their possible expansion, beyond Stadium, into the U.S., but it wouldn’t be surprising if they were negotiating behind the scenes in a major state where they might be able to set up shop. Many prospective states, including Connecticut, have quietly sent out RFP’s requests for proposal.

As we said, GCVLadbrokesCoral ownscontrols Stadium Technology Group, software provider of the most widely-used betting platform in Nevada. Oddly in Delaware, Scientific Games, through its lottery division, manages the technical logistics of sports wagering but is using another company’s GCVLadbrokesCoral betting platform with the “risk management” overseen by William Hill.

This strange alignment leads to the assumption that we could see more of this kind of arrangement in other states new to sports betting.

Churchill Downs .:  401 opening line 30-1

We pointed out in March that the company bought Presque Isle Downs, a racetrack with slot machines in Erie, Pennsylvania, in a move that may have been partially prompted by the desire to become a major national sports wagering brand name. That speculation was bolstered by the recent announcement that the Churchill has joined with Golden Nugget Atlantic City GNAC to offer legal sports betting and online gaming markets.

Churchill Downs said at the time it hopes to begin accepting legal wagers for sports betting and online gaming in New Jersey during first quarter 2019. The company and Golden Nugget owner Tilman Fertitta had to be holding their collective breath when New Jersey lawmakers initially wanted to exclude GNAC from sports betting because of billionaire Fertitta’s ownership of the NBA Houston Rockets. A last minute carve out in the New Jersey laws allows GNAC to operate a sports book, but without any NBA wagering.

Churchill, a Louisville, Kentucky-based, publicly traded company, also announced a partnership with SBTech to utilize its integrated technology platform for its new gaming operations. Churchill also said, as we surmised, that it would join the sports wagering market in Pennsylvania when legal and ready.

The odds have moved upwards because the ChurchillGNAC alliance has said it would wait until 2019 to begin operations. It’s unclear if that’s still the case. It will be difficult to pass on the upcoming start of the next NFL season and it will be hard because some competitors in Atlantic City are up and running. But, if the software isn’t ready and if Churchill is still determining how to access its significant horse racing online betting platform and those customers, waiting may be the best plan.

 

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