Around the Sports Betting Horn in America

Every now and then, we attempt to touch on the latest sports betting news from around America. It's a worthwhile endeavor considering the ever-changing landscape of the sports betting community from one state to the next. In this week's report, we are going to look at the goings-on in Missouri, the online gambling numbers from Michigan, and a couple of industry acquisitions that may be on the horizon.

The Latest on the Legalization of Sports Betting in Missouri

Over the last couple of years, members of Missouri's state legislature have been bandying about the idea of legalizing sports betting for the benefit of the state's residents. Leading the way has been Sen. Denny Hoskins, who just last year sponsored Senate Bill 98 only to see the bill fall by the waste side without much fanfare. Vowing to introduce another bill sometime in early 2022, Senator Hoskins may find that a new bill might actually get some traction.

Recently, Edward Grewach, general counsel for the state gaming commission, and Missouri Lottery Executive Director May Reardon have been discussing in earnest the boost sports betting and a new online lottery system would give to the state's cofers. With an eye on raising as much as $200 million a year in online gambling/sports betting tax revenue, it's possible the people of Missouri are ready to join the sports betting fray with more support than has been displayed in the past.

Michigan Racking UP Huge iGaming Revenue

The fine people of Missouri need not look any further than neighboring Michigan for a peek at what is possible in terms of sports betting and online casino revenue.

According to reports from the Michigan Gaming Commission, Michigan online gambling operators generated just over $113 million in aggregate online gambling revenue in August. The breakdown looks as follows: online casino betting accounting for $97.2 million of the number with the remaining $15.9 million coming from online sports betting.

Fanatics Looking to Enter Sports Betting Market

Fanatics has long been one of the biggest names in the sports merchandise industry. Over the last year or so, company officials have been hinting at the idea of getting involved in the U.S. sports betting market. Based on recent rumors, the company may now have a specific sports betting operator as an acquisition target.

By all indications, Rush Street Interactive could be a good fit. Rush Street has been getting a bit of interest that seems based on rumors that the company might be in line to land the $3 billion naming rights contract with ESPN. While Fanatics is apparently in the running for the rights to operate NY online sports betting, they would be well served to find a representative sport betting brand as opposed to starting from scratch.

In other acquisition news, information has surfaced that confirms DraftKings is making a $22.5 billion bid to acquire UK gambling giant Entain. It's noteworthy that Entain owns 50% of BetMGM, one of DraftKings' top competitors in the U.S. sports betting market.