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Captain Gambling: Weekly Industry News Update – 09/20/2020

Welcome to our weekly industry news digest here at Captain Gambling, where we’ll give you all of the latest updates about betting legislation in states across the country as they happen.

This week’s top stories:

  • Ohio to reach decision on legal sports betting by the end of 2020
  • DarftKings and FanDuel invest in campaign to legalize sports betting in Maryland
  • New Jersey Casinos to get tax breaks
  • Massachusetts colleges against legal sports betting

Ohio

Ohio lawmakers are reportedly getting closer to a deal that would legalize sports betting in the state, with sponsors and stakeholders poised to get in on the action. Big progress is said to have been made, however, Ohio residents are still likely months away from being able to place their first legal sports bets. A vote on legalizing betting in the Buckeye states is set to happen before the end of 2020, so Ohians can expect to enjoy legal sports betting in the early parts of 2021. 

Maryland

Betting giants DraftKings and FanDuel have invested a combined $750,000 on a campaign to support the legalization of sports betting in Maryland. The state is set to vote on the legalization of sports betting in November this year, and the “Vote Yes on Question 2” campaign is to support the motion by launching a website and media advertising campaign. As well as a cable advertisement in Baltimore, print ads will be posted in the Washington market. The campaign is chaired by former University of Maryland and WNBA basketball star, Marissa Coleman.

New Jersey 

The New Jersey legislative committee has this week cleared the Atlantic City casino relief bill, which allows casinos and racetracks to deduct a portion of betting revenue taxes. The A4022/S2257 bill permits gambling operators in the state to deduct ‘gaming credits from gross sports betting revenue above $12 million (online/mobile) and $8 million (in-person/retail) which is generated from either free or promotional wagers. Atlantic City’s casinos are set to be given another boost as another proposal has been put forward which would grant permanent and temporary tax breaks to gambling operators in the resort city. 

Massachusetts

While Massachuesettes looks set to become one of the states to legalize sports betting this year, colleges have suggested they wouldn’t support a law allowing betting on college sports, the Boston Globe has this week reported. According to the report, representatives from a collection of colleges, including Boston College, Boston University, Harvard and UMass, have drafted a letter to lawmakers. In the letter, they claim that legalized betting college sports would create “unnecessary and unacceptable risks to student athletes, their campus peers, and the integrity and culture of colleges and universities in the Commonwealth.” Supports of legalized sports betting on the other hand, claim that omitting college sports would pave the way for an illegal market.

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