Weekly Sports Betting News Roundup: Disappointment in Minnesota

Minnesota Viking fans NFL football
Minnesota Viking fans stare at the field after the Vikings lose. (Photo by Darren Hauck/Getty Images)

Here is all you need to know about this week’s most interesting sports betting industry news and updates. Check it out!

Minnesota Sports Betting Legalization Fails

The legislative session for Minnesota ended on Monday. Without a resounding agreement from all parties involved, the sports betting bill hasn’t been passed.

The House passed a bill for sports betting to become legalized in the state; all eleven tribal partners were on board. Unfortunately, the Senate added horse tracks into the agreement, and this approach has seemingly disrupted the entire process, and chances of sports betting legalization in MN have dwindled.

Despite warnings that the addition of horse tracks would damage the current bill and potentially remove its chance of passing, the Senate did it anyway. It sounds to me like this bill was self-sabotaged.

Massachusetts Sports Betting Negotiation

Two Massachusetts sports betting bills will go under review as each party is now prepared to begin their negotiations.

It’s been a drawn-out process leading up to this point, and although the Senate had ample time to review last year’s proposal, we witnessed a different bill pass that wasn’t ticking all of the boxes required.

Subjects discussed in the upcoming conference committee will include the Senate’s complete ban on college sports betting, the broad margin in tax rates and the suggested ad bans.

Ohio Sports Betting Launch

Elsewhere, the state of Ohio is reaching its deadline to provide a sports betting start date.

Ohio sports betting has a mandatory date of January 1, 2023. This go-live date could become the official launch as the sheer volume of regulator-cited applications has exceeded the workload for the council committee.

A universal sports betting launch date for Ohio will be declared on June 1, 2022, when the Casino Control Commission will make the announcement.

Maryland Sports Betting Legalization

Voters in the province of Maryland pushed through the right to have legalized sports betting in their state in 2022.

More than two years down the line, the already painstaking wait for online wagering could be extended into 2023 and beyond.

Maryland’s first retail sportsbook opened its doors in December 2021, but holdbacks and delays prevent the digital advancement of sports wagering in the state.

DraftKings Controversy

Jason Robins, the CEO of DraftKings, recently expressed his desire to buy stock on the open market. Due to the terms and conditions on short-swing profits, he’s unable to do so, but the DK boss stated he would.

Robins revealed on Twitter that he’s purchasing options. Still, critics have returned and highlighted that this can not represent confidence within a company to the same level as buying in the open market.