Sports betting continues to gather momentum as sporting action picks up around the globe. Punters on betting apps in South Africa can now access various markets and try their luck. In Africa, soccer is arguably the most followed sport on online betting platforms like Betway. In this piece is the sports betting recap for the week.
The biggest stories in the sports betting industry came from the Midwest states in the US. Here are some of the most notable events:
Monday: Nebraska Expanded Its Gaming Industry
In the eventful week, Nebraska approved the expansion of its gaming industry. The step was taken to avoid losing revenue from gaming to Iowa. The state plans to expand gaming at racetracks to create a more appealing atmosphere, similar to what is experienced in Vegas. Furthermore, racetracks will receive a boost, and sports betting will increase in the state of Nebraska.
Tuesday: Iowa Revenue Report
The state of Iowa reported revenues of over 80 million USD from betting in October. This was yet another state record. Most of the revenue can be attributed to the NFL and Big Ten, which were reported to generate 81.9 million USD and 9.1 million USD, respectively.
The revenues indicate that football remains a major sport in the US, especially in Iowa. The launch of William Hill’s sportsbook also helped boost the revenue. It is estimated that this month Iowa will receive more than 80 million USD because of a full month of action in both NFL and Big Ten football.
Wednesday: The NFLPA Partnered With Monkey Knife Fight
The sports betting industry also witnessed a huge partnership deal between the NFL, NFLPA, and Monkey Knife Fight. There has been an increasing number of gaming companies partnering with professional leagues and games in the recent past.
However, the first company to partner with the NFLPA is MKF. The partnership will go a long way in helping the NFL and NFLPA players.
Thursday: Massachusetts Is Becoming a Betting Battlefront
Sports betting is not yet legalized in the state of Massachusetts. Nevertheless, it is about to become a battlefront for casinos and online betting operators like Betway. Casinos are fighting mobile sportsbooks.
They have already presented their argument to lawmakers suggesting that mobile sportsbooks will undermine the state’s gambling industry by flooding the market. Despite the tussle, there is still a chance that both parties can work in the state, although each will try to influence the laws in their favor.
Friday: There Was another Record Month in Indiana
The state of Indiana also released its October betting revenue report, and they had another record high. In October, the Hoosier State recorded 230.9 million USD surpassing the record month they had in September.
Football was the leading sport in the sports betting industry, recording more than 84 million USD in bets ahead of basketball and baseball. Many experts had predicted a tough month for Indiana because Illinois had legalized sports betting, but their prediction was wrong.
Bottom Line
The sports betting industry operators are doing well. On the other hand, states will try to come up with regulations that will allow them to legalize sports betting to not miss out on the massive revenue it generates. Partnerships will also increase as professional sport partners with sports betting operators.
