Betting wins

A state with multiple major league franchises yet divided by those hungry for sports betting and those who don’t want it on the menu, has finally broken the deadlock in favor of the bettors.  

boost to the entire US gaming industry

Like a levee breaking, news of Missouri voters approving legal sports betting in Tuesday’s election has given a boost to the entire US gaming industry. 

Stating that the market could launch mid-to-late summer, Data, PR for BetMGM John Ewing welcomed the news via X that: “Missourians could be betting on the Hot Dog Contest this 4th of July like real Americans”:

As early as midday Wednesday, sports betting stocks soared on the back of Missouri’s win, with DraftKings, FanDuel, and Rush Street shares rising by 3%, 2.51%, and 5.1%, respectively. 

The importance of Missouri becoming the 39th state to legalize sports betting was not lost on President and CEO of the American Gaming Association Bill Miller, who applauded the effort it took to gain regulation.?

Fighting talk

The AGA chief penned a message of congratulations to Missouri, stating voters “landed a knockout punch to illegal sportsbook operators in their state.” In the release Miller added: 

“With Amendment 2’s passage, Missourians will soon be able to bet on sports legally, with consumer protections, responsible gaming measures and expertise within reach, and tax revenues dedicated to public schools.”

Amendment 2 narrowly passed by less than 7,500 out of nearly 3 million votes cast on Tuesday. Opposition group Missourians Against the Deceptive Online Gambling Amendment could have requested a recount, but they chose not to.

The outcome plus the stock jump is a win for the likes of FanDuel and DraftKings, who both injected millions of dollars into Amendment 2. 

ensures we no longer lose valuable tax revenue to our neighboring states”

St. Louis Cardinals President Bill DeWitt III was also upbeat about sports betting’s legalization. DeWitt thanked voters “on behalf of all six of Missouri’s professional sports franchises”

He added: “the historic vote […] ensures we no longer lose valuable tax revenue to our neighboring states.”

Apart from Oklahoma, every state bordering Missouri has legalized sports betting. An October GeoComply report revealed the pent-up appetite for sports betting in the state, with sportsbooks blocking 11.1 million online access attempts from Missouri.?

What next

Whether or not the sports betting market launches over next summer, it will go live no later than December 1, 2025. The Missouri Gaming Authority will grant 19 retail and 21 online sports betting licenses. Under this allocation, each of the state’s six major league teams can apply for one retail and one online sports betting license each. 

Many leading sportsbook firms will bet attracted to Missouri’s huge sports fanbase and its tiny sports betting revenue tax of 10%, one of the lowest of all 39 legal states.

Stifel analyst Steven Wieczynski added in a Wednesday report that Amendment 2’s provision for retail sportsbooks at brick-and-mortar casinos could catch the fancy of operators including Boyd Gaming, Caesars, Century Casinos, and Penn Entertainment.

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Racing strike

All horse racing meetings that were due to take place on November 7 in France have been canceled due to industry strikes.

widespread anger from within the industry has now led to an unprecedented protest

The French government amended its budget plans to include a tax on racing to fund a shortfall in the social security budget, but widespread anger from within the industry has now led to an unprecedented protest. 

The taxes were set to cost the industry between €20m ($21.6m) and €50m ($54m), on top of the €951m ($1.03bn) which it already contributes.

Budget amendment

Gambling taxes on horse racing were not included in the original budget, but an increase in online racing betting tax from 7.9% to 15%, and a 0.6% increase on physical betting shops were added in a late amendment. The resulting anger from the industry sparked an immediate protest movement.

the issue was dropped from the budget after it was defeated in the National Assembly

Laurent Saint-Martin, France’s Budget Minister, later said he disagreed with the decision to levy the taxes, and in the end, the issue was dropped from the budget after it was defeated in the National Assembly on Monday.

Despite that reprieve, the protests will take place anyway as an indication of general feeling throughout the industry and to guard against any attempts to reintroduce them as the process of passing the budget drags on.

A demonstration against the tax is also planned for November 7 in Paris. A general boycott is called, and punters, trainers, bookmakers, and other individuals involved in gambling are asked to attend the protest.

Racing workers rally

In a joint statement released on Tuesday, the France Galop and Société du Trotteur Fran?ais stated: “Although the amendment to increase taxation on horse-racing betting was rejected, it is essential to maintain pressure on the government and elected representatives.”

we won’t give up, because our jobs are at stake”?

“This subject is likely to be brought up again in the Senate or at any other point in the budget adoption process, and it is vital that we make it clear to all politicians, through a strong mobilization on Thursday, that we won’t give up, because our jobs are at stake.

“We invite every member of the industry to join us at Place Denfert-Rocherau on November 7 alongside the professional associations in the defence of horseracing.”

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Texas closer to legalizing gambling

If Texas wants casino gambling and sports betting to become legalized, the state must successfully leap over two hurdles.

The first is that Republicans look to have won the only competitive race among the fifteen Senate seats on the ballot this election cycle. Democrats have traditionally been more bullish on gambling, and so legalization prospects have dimmed. The second is that Republican Lt. Gov. Dan Patrick presides over day-to-day Senate dealings, and he has blocked gambling legislation from reaching a vote on the Senate floor. Patrick says that he will not bring up a gambling bill for a Senate vote unless he has a majority in the Republican Senate caucus.

the majority support that Patrick requires would have been ten, but now it is 11

By electing Republican Adam Honjosa to the state Senate, 20 GOP senators will take office compared to the Democrats’ 11, which makes the math more difficult for potential gambling legalization. With 19 Republican state senators, the majority support that Patrick requires would have been ten, but now it is 11. Unfortunately, Hinojosa campaigned on traditional family and conservative values, indicating he may not be a gambling supporter.

As a consequence of Republication opposition, even a bipartisan bill from the House last session eventually stalled in the Senate.

Trump victory signals potential hope

There is an out that may deliver victory yet for Texas. Patrick may not be in office for much longer, as he has long pledged loyalty to Donald Trump, who has said he will reward loyalty above all with potential cabinet positions. Trump has made few public statements about his cabinet selections, but Lt. Gov. Patrick has been among his most outspoken supporters. In addition, Texas Gov. Greg Abbott has said little to indicate that he intends to vacate his position or seek higher office, leaving no room for career advancement for Patrick unless he takes a position outside the governorship.

a replacement may be more willing to send a gambling measure for placement on the ballot

If Patrick does vacate his seat as the Lt. Gov., the primary obstacle to casino gambling legislation in Texas would be gone. A replacement may be more willing to send a gambling measure for placement on the ballot, a move that would align with proven support among conservative lawmakers.

The remaining obstacle would then be Senate President Pro Tempore Charles Schwertner, who has also publicly opposed gambling and sports betting in Texas, but who may be more open to bringing a bill for consideration in the Senate with already-proven GOP support.

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First handbook issued

The UK’s Betting and Gaming Council (BCG) has published a code handbook, containing guidance all members of the organization must follow.

The handbook, comprised of 20 codes covering 100 measures, is intended to surpass standard regulatory requirements and deliver “world class standards” in the UK gambling industry.

over 90% of the UK’s licensed betting operators are members of the organization

While the BGC is not a regulator, over 90% of the UK’s licensed betting operators are members of the organization and will be obliged to follow the codes issued.

Safer gambling

Almost all of the codes covered in the handbook concern safer gambling, with members required to commit to new pledges on advertising and messaging.

Twenty percent of all TV advertisements must also be geared toward responsible gambling.

These include a commitment to not advertise free bets on television before 9pm, as well as ensuring all advertisements are age-gated, particularly with football clubs sponsored by operators. Twenty percent of all TV advertisements must also be geared toward responsible gambling.

For physical betting shops, any games are also required to display Return to Player (RTP) and information on whether strategy can influence outcomes. Information on responsible gambling is also required to be displayed at all physical machines.

Raising standards

Speaking about the launch, BGC CEO Grainne Hurst said: “I am delighted to announce this new Code Handbook, which comprises over five years of determined work to raise standards, across the board.

“This Handbook draws together our sector’s combined efforts, under the leadership of the BGC, to raise standards on safer gambling in the UK.”

the commitment to raising standards does not stop for the BGC, or our members”

“This Code Handbook is also not the final word on this work, because the commitment to raising standards does not stop for the BGC, or our members. That’s why we are working with the regulator and government on over 50 additional workstreams.”

Hurst also said: “Taken alone, neither the recently published White Paper on gambling reform, or existing licence conditions set by the Gambling Commission, can deliver the world class standards our industry strives for.

“It takes independent determination on behalf of our members, and collective ambition by the BGC to deliver that. This Handbook is the result of that determination and ambition.”

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Having the final say

On a day of immense drama, Americans voted Donald Trump in as the next President of the United States. While most of the attention was on the choice for president other lawmakers, a few gambling initiatives were also on the ballot in a handful of states.

Missourians voted on whether or not they want legal sports betting, while people in Arkansas, Virginia, and Colorado also expressed their views on gambling-related initiatives.

Missouri

Amendment 2 in Missouri narrowly passed by fewer than 7,500 votes out of nearly 3 million votes cast, so online and retail sportsbooks will be up and running by December 2025.

A historic amount of money went into the campaign, with major sportsbook operators FanDuel and DraftKings donating nearly $41m in support, while Caesars Entertainment, which runs three land-based casinos in the state, invested $14m to put people off the idea.

Another gambling-related initiative on the ballot in Missouri was defeated, with 52% of people voting against the development of another casino in the Lake of the Ozarks area.

Virginia

Voters in Petersburg, Virginia overwhelmingly supported a new $1.4bn casino development beside Interstate 95, with the initiative receiving more than 80% support at the ballot box.

will be the state’s fifth commercial casino

The Live! Casino & Hotel will be the state’s fifth commercial casino and is expected to generate an estimated $240m in tax revenue over its first decade.

Arkansas

In an interesting turn of events, a new casino won’t be coming to Pope County in Arkansas anytime soon despite locals voting in favor of retaining the license the Arkansas Racing Commission awarded to Cherokee Entertainment in June.

74 other counties in the state favored stripping the license

People in 74 other counties in the state favored stripping the license as they felt the matter was forced upon locals in Pope County, who had previously voted against the arrival of a casino in 2018.

Talking about the matter, Pope County Judge Ben Cross said: “In what is undoubtedly the epitome of irony, Pope County voters definitively made their voices heard once and for all on the casino issue” despite other counties “once again” deciding an issue on its behalf.

Colorado

Proposition JJ in Colorado got more than 75% support from voters, which means the state can direct annual gambling tax revenue exceeding $29m to improve water infrastructure.

The previous system saw any money over the $29m total going back to gambling operators and not used for public programs.

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Variety of initiatives

Americans take to the polls on Tuesday to decide if they want Donald Trump or Kamala Harris to be the next president. Among the many other choices that will appear down ballot are gambling-related questions in five states.

Missouri, Arkansas, Colorado, Maryland, and Virginia

Constitutional amendments are often necessary to change state laws to allow for certain forms of gambling expansion, as is the case in Missouri, Arkansas, Colorado, Maryland, and Virginia. This article looks at the measures up for consideration Tuesday in each of these jurisdictions.

Missouri

Voters in Missouri will decide if they want to legalize sports betting and allow commercial casinos.

Proponents of legal sports betting like DraftKings and FanDuel donated over $40m to campaigns to convince voters, the most donations any ballot issue has gotten in the state’s history.

aims to introduce sportsbooks by no later than December 2025

While major sports teams also back Amendment 2, Caesars Entertainment, which operates three casinos in the state, spent about $14m opposing betting legalization. The proposal aims to introduce sportsbooks by no later than December 2025 and implement a 10% tax on revenues.

Amendment 5 looks to allow a new casino close to the Lake of the Ozarks. Bally’s Corporation and local real estate developers have spent over $10m pushing the matter, with no major opponents coming out of the woodwork.

Arkansas

Pope County citizens will vote on Issue 2 to decide if they support the development of a casino or if countywide voter approval is necessary to add a casino license and as a result, repeal the issuance of a license in June to the Cherokee Nation Entertainment by the Arkansas Racing Commission.

The previous attempt in 2018 to allow casinos saw Jefferson, Garland, and Crittenden counties getting the green light to proceed, with 60% of voters in Pope County opposing the proposal for a property in their vicinity.

Those against Issue 2 believe a casino would generate $5bn in economic growth for the area, while those for the measure say that Pope County residents already rejected the proposal in 2018 and should respect that decision.

Colorado

Proposition JJ in Colorado is a more minor issue than what people in Arkansas and Missouri will vote on, as it looks to change the distribution of sports betting revenue.

If it gains passage, the proposition will allow the state to retain any tax revenue over a $29m annual threshold. In the current structure, the state must refund any tax revenue over this total to sportsbook operators and casinos.

Virginia

The casino measure will see voters in Petersburg decided on the building of the Live! Casino & Hotel Virginia on a site beside Interstate 95. The Cordish Companies would operate the property, beating Bally’s Corporation to the punch despite the alleged efforts by a senator to “bully” city staff to pick the latter.

create about 7,500 permanent jobs in the area

Proponents of the initiative believe it will create about 7,500 permanent jobs in the area and bring more money to local businesses and the city.

Maryland

The gambling initiative in Maryland relates to Chesapeake Beach, a small town of just 6,500 residents.

The question voters will decide on is if the town can offer more forms of gambling at existing venues, like table games, slot machines, and bingo machines.

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The Finnish Government has sent its proposed commercial gambling legislation to the European Commission (EC) for review ahead of the Scandinavian country’s move into a demonopolised market on January 1, 2025. 

commercial operators poised to compete for market share

According to media reports over the weekend, Finland sent the EC its regulations for the forthcoming new market on November 1. The legislation paves the way for the government-owned Veikkaus Oy’s to end its Finland-wide monopoly on all gambling activity, with commercial operators poised to compete for market share across the iGaming vertical. 

A final addition to the submitted legislation compiled by a cross-party political committee was to do with horseracing, which was exclusively offered by the Veikkaus monopoly.  

The new regulations revealed that horseracing will fall under the competitive licensed market for online casino and sports betting. Finland’s Ministry of the Interior, however, stated that the sport would still benefit from government support, including breeding.

“In the future, through the state budget, support will be allocated to breeding, horse industry operator-specific advice and the development of the competition system,” a ministry statement said. Horseracing was a grey area when Finland released its draft legislation in July, with no indication whether it would fall under the commercial market or Veikkaus. 

In its statement, the ministry also confirmed the launch of Finland’s commercial market will be “no later than 1 January 2026.”

Next steps will be for Finland to await feedback from the EC and EU member states on the proposal’s consistency with European law. The official government line is that its proposal will “be presented to the parliament in the spring session of 2025.”

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The European Commission has rejected two complaints alleging the monopoly control Fran?aise des Jeux (FDJ) has over sports betting and lottery products in France is unfair.

The comprehensive investigation concluded that this 25-year exclusive arrangement was legal and that the state aid it received was legitimate. FDJ’s share price jumped 5% on the back of the news.

claimed the €15.2m ($16.5m) that FDJ pays the government annually is too little

Complainants from 2020 claimed the €15.2m ($16.5m) that FDJ pays the government annually is too little and the discount to the true market value is a form of unjust state aid. While the Commission decided to increase the total payments by €97m ($105m) over the 25 years, it took no other action.

The gambling operator welcomed the news of the Commission’s ruling that its privatization in July 2018 was fully legal. The French government sold half of its 72% ownership in the operator to boost public finances.

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French lawmakers have scrapped plans to legalize online casinos to tackle the 6% budget deficit, as the reform needs more consideration.

Budget Minister Laurent Saint-Martin explained the decision on Sunday, saying that the knock-on impact for land-based facilities is currently unclear. Further research is necessary before the government revisits the topic.

nation’s black market was worth up to an estimated €1.5bn ($1.6bn) last year

France is one of just two countries in the European Union, Cyprus is the other, to ban online casinos. The plan was to introduce a 55% tax on the revenue on these online platforms. The nation’s black market was worth up to an estimated €1.5bn ($1.6bn) last year.

One of the big opponents of the idea was Casinos de France, the body representing the interests of over 200 land-based casinos in the country. It claimed online casino legalization could jeopardize large numbers of jobs and lead to extensive closures.

After learning about the proposal’s removal from the upcoming budget, Casinos de France said it is relieved the government listened to concerns and believes “a framework of consultation and constructive dialogue” is necessary for future discussions.

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The French government is considering legalizing online casinos for the first time as it struggles to put a dent in a budget deficit that could surpass 6% this year, double the European Union (EU) target of 3%. Lawmakers proposed such a move in the government’s 2025 draft budget that it officially presented over the weekend. The National Assembly is debating this week.

It is targeting a black market that generated an estimated revenue of between €748m ($806m) and €1.5bn ($1.6bn) last year, according to France’s gambling regulator.

government proposes a hefty tax rate of 55.6% on the turnover

A lawmaker suggested the move would be a good way to tackle the black market and get a better grasp on addiction rates. The government proposes a hefty tax rate of 55.6% on the turnover from these operations.

The land-based gambling sector in the country believes nearly a third of physical gaming establishments would close with the legalization of online casinos due to a revenue drop of 20-30%.

France has about 200 land-based casinos and suggests that iGaming platforms should be offered in collaboration with the properties. It is one of two EU countries, along with Cyprus, to still completely ban online casinos.

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Ecuadorian President Daniel Noboa has lifted a country-wide ban on sports betting advertising.

Noboa, who took office in January and is seen as broadly pro-business, lifted the ban which had been in place since 2023.

The ban had been controversial, particularly among sports organizations such as the Ecuadorian Professional Soccer League (LigaPro), which were denied a crucial revenue stream from the advertisements.

The move breaks from a general trend in the global regulatory landscape as many countries seek to implement and enforce restrictions on gambling advertising. The issue has become contentious ahead of the upcoming Australian election, while in the United Kingdom, Premier League soccer clubs have voluntarily agreed to phase out gambling shirt sponsorship.

a grey market has emerged to fill the void

The lifting of the advertising ban comes as part of a new overall regime concerning gambling in Ecuador. Gambling has been banned since a 2011 referendum, leading to a familiar situation in much of South America where a grey market has emerged to fill the void.

While the country is still short of a fully licensed and regulated market, there have been moves in that direction, with a system implemented earlier in the year requiring operators to register with Ecuador’s revenue services and pay tax on their earnings.

Noboa is expected to continue moving toward legalization, although there remains significant opposition in Ecuador. Earlier in the year, the President also floated the idea of legalizing casinos, although the idea was ultimately withdrawn.

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Long time coming

Irish lawmakers have finally passed landmark gambling legislation to transform a sector worth up to €8bn ($8.7bn) annually. Legislators have discussed updating gambling regulator for 17 years. Minister of State James Browne began working on the newly passed Gambling Regulation Bill in 2020 before introducing it in 2022.

will introduce significant protections for the public

Talking to the lower chamber on Wednesday following the passage of the bill, Browne referenced the “extraordinary amount of work” that went into the “complex” legislation that will introduce significant protections for the public in what was previously a largely unregulated sector of the country.

The bill now heads to the desk of President Michael D. Higgins for him to consider and officially sign into law.

Major overhaul

A wave of new alterations is coming to Ireland’s legislation for gambling, a framework that hasn’t changed significantly since 1956. One of the biggest moves is the creation of the Gambling Regulatory Authority of Ireland (GRAI) to look after the licensing of operators and oversee compliance. It will also have scope to suggest additional changes to legislation as it sees fit and issue fines of up to €20m ($21.7m).

a ban is also coming into place on social media ads

Restrictions on advertising will prohibit gambling ads on broadcast media between 5:30am and 9pm, while a ban is also coming into place on social media ads. People will need to opt in to receive other types of online marketing messages. The bill also bans incentives like free bets, hospitality, and VIP treatment.

Operators can no longer sponsor sports teams or organizations, while a new social impact fund will allocate resources from gambling companies to finance important addiction-related education and treatment programs.

Not for everyone

Not everyone is happy, including industry stakeholders who warn of the negative impact the bill will have on what is a major sector in Ireland. Horse racing in particular relies heavily on gambling-related advertising and a betting levy.

Some major broadcasters, such as Racing TV, are on record saying they will likely shut down their Irish operations as it wouldn’t be economically viable to have a separate feed that doesn’t contain gambling ads. Sky Sports Racing revealed last week it plans to have a separate feed.

Legendary Irish poker player and tournament organizer Fintan Gavin aired his concerns in an exclusive interview with VegasSlotsOnline News about the lack of clarity in the bill regarding payout limits for poker tournaments.

The legislation implements a €10 ($10.86) max stake and payout cap of €3,000 ($3,258) on games like blackjack, roulette, and slots, without clarifying if poker falls under this bracket. He emphasized how important annual poker festivals are to the country and is “hopeful that the regulators will recognize this.”

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