On Wednesday, January 20, the Virginia Lottery issued a sports betting permit to the Washington Football team, making them the first franchise in the National Football League to receive a sports betting license. Thanks to its partnership with FanDuel, the Washington Football Team was able to launch a mobile sportsbook in the Commonwealth on Thursday, just in time for bettors to get in on the AFC and NFC championship games on Sunday. As it stands, the sportsbook is launching exclusively online, as the possibility of future retail sportsbooks is still being discussed.

The Evolving Stance on Sports Betting

The past five years has brought an ever-evolving stance on sports betting throughout the United States. The Supreme Court’s 2018 decision to lift the ban on sports betting in the United States has led to a wave of sports betting legislation across the country. The most-recent example of this is Virginia’s first ever sportsbook is the first to ever partner with and NFL team. The partnership offers another dimension to the growing sports betting industry in the country, as the league, who once stood in opposition to the idea of sports betting, is now welcoming partnerships like FanDuel and the Washington Football Team.

The financial details of the partnership are not yet clear. Per the NFL’s policy, NFL franchises cannot directly participate or provide sports betting. That being said, in states where sports betting is legal, teams can partner with existing sportsbooks who have a license to operate. Sports betting in Virginia was made legal after Gov. Ralph Northam signed it into law in July 2020. Six months later, the first sportsbook has officially gone live, just weeks before Super Bowl LV.

The Virginia Lottery expects to launch additional sportsbooks before the big game, but for now residents will have to wait. Large sports betting companies such as MGM, Draft Kings, and Barstool Sports have all applied for licenses in the state, but none have been approved.

A Change of Scenery

The Washington Football Team plays at FedEx Field in Maryland; however, its team headquarters and practice facility are located in neighboring Virginia. As it stands, the team pays nearly $14 million in taxes each year, and is rumored to be considering locations for a new stadium. With the new partnership, Virginia could offer the perfect location for the next stadium.

Virginia’s interest in building the new stadium has been no secret. In fact, the sportsbook is a result of the state’s sports betting legislation, which give preferential treatment to the team so that FanDuel can be the first sportsbook in the state. For now, FanDuel will display signage at FedEx Field while displaying the Washington Football Team’s logo across their mobile sportsbook.

Potential for Similar Partnerships

While the Washington Football Team and FanDuel are the first sportsbook and franchise partnership in the NFL, they certainly won’t be the last. Illinois and the District of Columbia have already taken steps toward allowing other professional teams and stadiums to receive sports betting licenses. Capital One Arena, home of the Washington Wizards and Washington Capitals, already has a retail sportsbook. Nationals Park is the next professional sports venue in Washington D.C. expected to add some type of sports betting. Elsewhere, the Chicago Cubs hope to add a sportsbook of their own.

Since the lift on the ban of sports betting in the United States, nearly every state has passed legislation or are at least considering legislation for regulated betting. Idaho, Utah, and Wisconsin are the only states that have not welcomed the idea of sports betting. Such a trend suggests that additional partnerships between professional sports franchises and big-name sports betting companies will become commonplace in the near future.

On Monday, July 13, Michigan’s Four Winds Casinos officially launched their Four Winds Sportsbook. The three Michigan locations marked this momentous event with special guest Steve Mongo, Super Bowl Champion and ESPN personality, who appeared at Four Winds New Buffalo to place the ceremonial first bet at the new sportsbook. Mongo, a former defensive lineman for the Chicago Bears, put $20 on the Bears to win the Super Bowl this season. The bet marks the official launch of the Four Winds Sportsbook at the New Buffalo, Dowagiac, and Hartford locations. The new sportsbook gives resident access to sports betting for the first time, as professional sports begin to start again after a lengthy hiatus due to the COVID-19 Pandemic.

Details About the New Sportsbook

A month ago, the Four Winds Casinos reopened their doors after an unprecedented closure caused by fears surrounding the coronavirus. The casinos closed in mid-March when they were originally planning to launch their sportsbook alongside the NCAA March Madness Tournament. Now, as the casino reopens and sports are returning to play, guests can visit the sportsbook and begin placing wagers on popular sports, such as basketball, football, hockey, baseball, soccer, and much more. The launch of the new sportsbook comes at the perfect time, as many of the professional sports leagues throughout the United States are prepping for their return to play after the coronavirus pandemic brought all leagues and preseasons to a halt back in March.

The Four Winds casinos, which are owned and operated by the Pokagon Band of Potawatomi, have chosen to partner with Kambi to deliver their new product. Kambi is a well-known provider of sports betting services and is renowned for their excellence in providing software that offers odds compiling, as well as risk management. The company has partnered with other industry leaders, including DraftKings, Rush Street Gaming, and Penn National. The partnership between Four Winds and Kambi was approved by the Pokagon Gaming Commission and the Pokagon Gaming Authority. Tribal Council Chairman and CEO of the Pokagon Gaming Authority Matthew Wesaw expressed his excitement in adding the new sportsbook to the list of amenities at the existing Four Winds locations.

In order to place a wager at the Four Winds Sportsbook, bettors must scan a QR code on their phone. This QR code will give them access to another code that they can present at any of the three Four Winds locations in order to place a bet with their account. Guests can also place wagers at the 18 kiosks at the New Buffalo location or at the six kiosks at Dowagiac or Hartford locations. Frank Kennedy, Four Winds senior vice president of casino operations, praised the new sportsbook as an opportunity to tap into a new demographic of bettors.

Growth of Gambling in Michigan

Much of the gambling available in the state of Michigan is possible due to the Indian Gaming Regulatory Act. Under this act, residents can enjoy Native American casinos on land that is owned by the tribes within the state. In addition to the Native American casinos throughout the state, residents have the ability to place wagers on horse racing at tracks and primutuels throughout the state. Although the Supreme Court lifted the national ban on sports betting in 2018, it wasn’t until recently that Michigan added legal sports betting to the mix of available gambling options.

In December, Governor Gretchen Whitmer signed a bill that legalized sports and online gambling. The bill allows for sports betting, but only on wagers that are placed in-person at licensed casinos. Residents who are interested in online or mobile sports betting will have to wait for the time being, but officials believe that those options could become available in the near future. There has also been speculation that the Four Winds casino located in South bend could add a sportsbook to their casino before the end of the year, but officials do not have an update on the status of that at this time. In the meantime, bettors will have to take advantage of the newest sportsbook at the three Four Winds casino locations.

Last Sunday marked one of the biggest sportsbook losses in Las Vegas history, all thanks to an error made by bookmakers. Nearly a quarter of a million dollars in winning wagers were placed at MGM Resorts on Sunday, and all of these bets were made after the sporting events had started. Bookmakers are calling this the largest loss in the history of Vegas sportsbooks, but the error that was made is more common than some may think. Now, some people are questioning whether there will be any repercussions for those who took advantage of the mistake.

The Error

When entering the odds for various sporting events, oddsmakers often enter the start times of manually; this was the case for a number of Korean and Chinese baseball games that were open for wagers on Sunday. The issue arose when the start times were entered incorrectly, giving bettors the opportunity to place wagers that were supposed to be available only before the game after the game had started.

The error presented bettors with the unique opportunity to take a look at the games in play and determine the outcome of the games based on the live scores and events taking place in each match. Although many sportsbooks typically offer live betting, they do so with odds that are adjusted to account for the events taking place within each match. This time, however, the odds remained static, due to the fact that the manual start time entry made it seem as though the games had not begun. Bettors were quick to spot the error and did everything they could to capitalize on the mistake.

Easy Money

Nearly 50 bets were placed in order to take advantage of this mistake, many of which were placed through the self-serve kiosks at the Bellagio resort between 1:30 a.m. and 3:00 a.m. The games in questions were baseball games from the KBO League and the Chinese Professional Baseball League. The games start times were 1 a.m. and 2 a.m., but the books had them listed much later, making it easy for bettors to hand-pick the bets that were most likely to hit.

In the game between KT Wiz Suwon and Hanwha Eagles, the over was set to 9.5 runs. When Suwon scored five runs in the first inning, many bettors realized that the over was likely to hit, and so they placed their wagers. Over 9.5 runs hit in the seventh inning, and the game ended 8-4 in favor of Suwon. The NC Dinos and the Doosan Bears were being shown on ESPN, with the under set a 9 runs for -110. The game was 0-0 until the 5th inning, and bettors again took advantage of the opportunity by taking the under.

Single bets were the least of bookmakers’ concerns. One $250 wager on a 10-leg parlay ended up paying out more than $137,100 to one lucky bettor. Another $100 eight-leg parlay won $11,156.60. These creative parlays are just a few examples of how bettors were able to cash out on one of the biggest bookmaking errors in the history of Las Vegas.

Winnings Hang in the Balance

Errors from manual entry occur quite frequently, but not with losses of this magnitude. A number of bookmakers in the industry spoke out about the incident, claiming that the occurrence is quite common. The issue, of course, is that a loss this great can hardly be chalked up as a typo from which bookmakers can move on. Now, The Nevada Gaming Control Board is stepping in, and many are wondering whether or not these winnings will be rescinded.

Whenever a dispute in excess of $500 occurs, The Nevada Gaming Control Board is required to launch an investigation. In these circumstances, the board will conduct their investigation, ultimately deciding whether or not bookmakers need to payout the bets in dispute. This could mean that the opportunistic bettors that took advantage of this mistake could be left with no winnings from the wagers they placed. It is common practice within the industry to give patrons the option of refunding their tickets or keeping their winnings under the condition that they will be permanently banned from the sportsbook. Given the choice, one would think that these lucky bettors would gladly take their winnings to another sportsbook, but for the time being they must wait for the decision from the board.

Barstool Sports has announced their intentions to launch their first Barstool Sportsbook with the help of a new partnership. Barstool founder Dave Portnoy was recently interviewed on CNBC’s Mad Money, stating his intentions to get back to the roots of the company: professional sports. Now that major sports leagues have begun rolling out plans to return to play later this summer, Barstool Sports believes that its time they put their mark on the growing sports betting industry throughout the country. Barstool CEO Erika Nardini doubled down on Portnoy’s comments, saying the highly anticipated sportsbook could be here in time for the 2020 NFL season, which starts in September.

What to Expect from Barstool Sportsbooks

Barstool intends to launch both a sports betting app, and a brick-and-mortar sportsbook, yet not concrete plan has officially been put in place. Portnoy, who founded Barstool in 2003, shared that he’s looking forward to getting back to sports after the coronavirus pandemic brought the sports world to a stand-still in March. As a sports bettor himself, Portnoy looks forward to having a hand in creating a unique sportsbook, which Nardini believes will be a unique reflection of the Barstool culture that fans know best.

In an interview with Fox Business Network, Nardini explained some of the features that she anticipates will set Barstool Sportsbook apart from well-established competitors like DraftKings and FanDuel. Barstool already has a number of podcasts and other digital platforms they use to discuss sports betting. Pardon My Take, which is currently one of the most popular sports podcasts in the world, is just one example of Barstool’s far-reaching sports culture influence, and will provide a platform in which employees will continue to discuss sports betting. Through these platforms, Nardini believes that Barstool employees will be able to leverage their existing sports expertise to encourage fans to use the new sportsbook and engage in unique ways.

Barstool also plans to have a hand in creating some unique promotions to draw fans to the new app. Barstool employees will work on creating parlays and lines for unique bets in an array of in-app promotional betting options. On the app, bettors will find a variety of sports to place wagers on. Nardini claims that the new app will cover everything, from popular sports leagues such as the NFL, to more unique bets like Bulgarian soccer.

A Lucrative Partnership

Barstool Sports has already made their mark on the gaming industry, after Penn National Gaming announced a 163 million-dollar deal that awarded them 36 percent interest in Barstool in February. Through this partnership with the gaming industry leaders, Barstool has created the opportunity to create the sportsbooks experience they have been dreaming of. Nardini believes that the pairing between Penn Nationals large and reputable brand, coupled with the enticing personalities at Barstool Sports, create the perfect combination for popularizing their latest project.

The timing of the sportsbook is shaping up quite nicely, assuming that everything can continue as planned. Penn National was forced to close its doors over the past few months, in order to thwart the spread of coronavirus. Now, as parts of the country are beginning to reopen, Penn National has reopened roughly 70 percent of their locations, and 11,000 employees have returned to work. Meanwhile, major sports leagues like the NBA, NHL, MLB, and MLS, who have suspended play due to the virus, are now planning to start playing again over the next two months. If Barstool Sportsbook can realistically launch their app in the coming months, then they will have an opportunity to capitalize on an unprecedented period of professional sports.

The partnership with Penn National suggests that the ambitious goal to have both an app and brick-and-mortar sportsbook in the near future is more than just a pipedream for Barstool Sports. However, there are a number of legal considerations and hurdles that Barstool will have to face in order to make this dream a reality. A September launch for the theoretical sportsbook seems ambitions, unless Barstool and Penn National can work to push a concrete plan that can be approved on such short notice. Regardless, the intent is clear: A Barstool Sportsbook is on the horizon.

Washington D.C. has yet to officially launch any form of sports betting, despite the fact that it was legalized over a year ago. Now, amidst the postponement of all professional and collegiate sports due to the coronavirus, the nation’s capital will have to wait even longer for its first highly anticipated sportsbook. After much deliberation and tireless efforts throughout the development of the city’s first sportsbook, it appeared as though residents in D.C. were primed for access to sports betting in early March, just in time for March Madness. However, as the world of sports continues to submit to the will of the ever-growing concern surrounding Covid-19 it appears that sports betting in Washington D.C. must be postponed indefinitely.

The Long Journey to Launch

As the nationwide shutdown began on Friday, March 13, the Office of Lottery and Gaming confirmed that it would be launching its citywide mobile sports betting app and website before April 1. At the time this announcement was made, the NCAA had already canceled one of the biggest sporting events of the year: the NCAA March Madness Tournament. During this time, it also became clear that major professional sports leagues throughout the United States, such as the NBA and NHL, would be forced to suspend competitions, with the start of the MLB season also hanging in the balance. The Office of Lottery and Gaming fully recognized that their sportsbook would be launching in a world devoid of sport, but it seemed that the launch would resume as planned, if only to finalize a project that had taken over a year to complete.

In January of 2019, Mayor Muriel Bowser officially legalized sports betting in the District. Since then, officials have worked tirelessly to come up with a sportsbook that they feel is satisfactory when it comes to offering regulated sports betting options to bettors, in hopes of producing revenue for Washing D.C. The final product, a collaboration between Greek gambling company Intralot and the D.C. Lottery, was primed to fall woefully short of the anticipated offerings for their opening day, which was scheduled for mid to late March.

The Journey Continues

As the coronavirus pandemic continues to plague the globe, the Office of Lottery and Gaming has been forced to delay the launch of their sportsbook even further. In a statement issued by a D.C. Lottery spokesperson, the launch of the sportsbook has officially been delayed indefinitely. The spokesperson emphasized that the mobile app and website have gone through the necessary tests to be ready to go live at the drop of a hat, yet the ongoing suspension of professional sports on a global scale has led the office to determine that a launch at this time would be counterintuitive.

The launch of the sportsbook at this point could potentially cost more money than the app or website would produce in revenue, which is highly disappointing considering the lofty projections for the industry. Officials had estimated more than $26 million in revenue this year, and that figure was set to increase in the coming years. The effects of this financial impact are certainly concerning, especially considering the hit that Intralot could be taking from the loss of revenue from other projects throughout the nation.

No End in Sight

The recent events leading to the indefinite delay of sports betting launching in D.C. will certainly hurt officials and sports betting enthusiasts alike. On the heels of the launch of the first online and mobile sportsbook was the expected launch of in-person sports betting for the District. A number of applications for sports betting licenses at professional sporting arenas like Capital One Arena and Audi Field had been in the works prior to this nation-wide shut down. At the time these applications were submitted, it was expected that such licenses could be issued before the 2020 NFL season. It appears that the effects of the suspension of all professional sports will force those decisions to be delayed as well.

As the world continues to adjust to the changes that have been forced by the outbreak of the coronavirus, officials in D.C. will await the decision by professional sports leagues to determine the next steps for sports betting in the District. For the time being, the Office of Lottery and Gaming has committed themselves to offering updates about the status of their mobile app and website, promising that when the time comes, they will be ready to launch the highly anticipated product.

The impact of Covid-19 has been felt throughout the world, as more and more countries enact policies that require social distancing to stop the spread of the virus. Sports leagues across the globe have been forced to suspend or cancel events due to the rate at which the disease has spread throughout the countries they operate in, impacting the industry in ways that were previously unimaginable. In the United States, the spread of the virus has forced a suspension in play and practices for the NBA, NHL, MLS, and MLB. The timing of the outbreak has also forced the NCAA to cancel March Madness, one of the busiest sports betting periods of the year. The suspension and cancelation of these events have forced sportsbooks into adapting to try and stay relevant in what has brought the booming sports betting industry to a screeching halt.

The Power of March Madness

Oddsmakers were primed and ready to handle Selection Sunday this past weekend; March 15 would have signified the launch of sports betting on the NCAA college basketball tournament, one of the biggest sporting events of the year. However, on March 12, the NCAA announced its decision to cancel the tournament amidst concerns surrounding the spread of Covid-19, after initially suggesting the tournament could be played behind closed doors. The 15-day tournament was set to span 14 cities, and as always was slated to be one of the most-watched sporting events of the year. The tournament consistently brings in millions of dollars between the media coverage, ticket sales, and gambling.

The notorious March Madness brackets, which fans have been filling out for years, present an opportunity for even the most casual fans to enter pools for cash prizes. These pools have acted as an access point for anyone interested in wagering on sports, even in the most casual sense. Sports betting has become even more accessible in recent years, after legislation has rolled out in 16 states since the Supreme Court’s decision to lift the ban on sports betting in 2018. Now fans who have been filling out brackets for years have been considering doubling down on their potential winnings by placing wagers at sportsbooks throughout the country.

It may come as a surprise to some that the money wagered on a college sport surpasses that of even the NFL or NBA, but the March Madness tournament does just that. In the first four days of the 15-day contest, March Madness generates more money in wagers than even the Super Bowl. With the cancelation of the tournament, sportsbooks in Vegas and throughout the country are looking for a way to counteract this massive loss.

The Impact on Vegas

In an interview with USA TODAY, Jay Kornegay, head of operations at Westgate Las Vegas Resort & Casino, expressed that there is no magic bullet for replacing March Madness. Last year, 47 million Americans wagered approximately $8.5 billion on the tournament. These figures include the countless brackets that fans fill out, as well as the wagers placed on individual games. What’s even more concerning, is the fact that the NCAA tournament isn’t the only gap that sportsbooks will have to fill in the coming months.

Almost every other sport in the world has been impacted as well, and the effects are being felt by sportsbooks throughout Nevada, where they typically bring in $500 million a month in sports wagers alone. The concerns surrounding the spread of Covid-19 has also forced temporary closures of brick-and-mortar locations like Vegas’ Wynn Resorts. Other locations have been forced into workforce reductions, as sportsbooks seek to do what they can to counteract the lack of action and provide steady work for their employees, as well as steady action for their players.

Current and Future Sports Betting Options

For the time being, many sportsbooks have shifted their attention to rely on futures bets, such as selecting the Super Bowl and World Series winners for the upcoming seasons. Additionally, bookmakers have done what they can to off lines on the extremely limited sports betting options left at their disposal. Brazilian UFC, Turkish and Russian soccer, and a very limited number of other contests have been the only available markets for sportsbooks over the past few days. It may not be much, but this limited action has at least offered something to bettors for the time being.

With such limited offerings, the sports betting industry is poised to see a steep decrease in revenue, after what has been one of the most successful sports betting periods in U.S. history. What’s even more unsettling is the fact that the suspension in play has the potential to last longer than expected; both the NBA and NHL intended to return to play in about six weeks, while the MLB is expected to delay the start of their 2020 season. As the virus continues to spread, it’s possible that these suspensions in play could extend until July.

While the future of sport hangs in the balance, sportsbooks will have to make do with the limited offerings at their disposal.