Sports Betting-Inside the Numbers: Operators Mid-Term

 

After seeing the reports that Penn Entertainment had a round of layoff wirh members of their ESPNBet team,I decided to look at the mid year numbers for the top operators. Let's see where everyone is positioned as the NFL returns this fall.  These are the market shares of the top operators.                           DraftKings :38%

  FanDuel 36.5%

   BetMGM:7%

   Caesars:5.9%

   ESPNBet 3.2%

   Rush Street Interactive 3%

Comparing these numbers to the 1st quarter of 2024,DraftKings increased by 2.7%.FanDuel decreased by 1.3%.FanDuel'sDraft market share shifted slightly toward DraftKings and Rush Interactive.BetMGM decreased by.3%despite some impressive partnerships. Caesars decreased .6% and ESPNBet dropped 1.5%.

Let's look at the stock prices to see if investors are still confident over the last month of activity. DraftKings fell -6.07% but close today up 0,26%. FanDuel is down -0.6% over the last 30 days but closed today up 0.6%. Public confidence is unchanged.BetMGM was up 8.80% in the last month and closed yesterday up ,15%. The public opinion of the stock is unwavered. Caesars Entertainment was down 5% 30 days ago but closed yesterday up .82%/.Caesars was down $9 6 months ago and $2 a month ago. While the market share declined, the price is going up.Rush Interactive's stock price was in the low teens 6 months ago but has dropped to just under $10 yesterday. The shift in market share did not translate to increasing the stock value. Penn Entertainment and ESPNBet are not trending in the anticipated direction. A stock price that was high as $25 a year ago is now at $18.52 and down .27% yesterday. 

The Outlook: Expect the two market leaders to jockey for the top position as the NFL and NCAA Football returns in September. BetMGM's partnership with Twitter and the expansion of their sports betting service in Washington, D.C.,will  help recoup the .3% loss of the 2nd quarter, I see Rush as a possible acquisition based on a fvorable price. ESPNBet has the advantage of starting this football season off at the inception. By not launching until after week 7 in 2023,they acqiured multiple downloads but were not able to grow the market.A correction is imperative or this media and gaming merger will be short lived.

I encourage you to practice smart responsible gaming and do your homework as you look to invest in the stock market.

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Gaming Stocks to Watch in 2022

The gaming and casino industry took some hits during the last quarter of 2021 in the stock market. Most of this was attributed to the spread of the Omicron strain of Covid. The anticpation that we will go back to a period of less social engagement has made some investors leary of the hospitality industry. Keep in mind that the level of gaming online has never been higher. So while the 1st quarter of 2022 will require management adjustments based on restrictions and staffing, the top teams will still retain market share. You can find value by investing in companies that are historically resilient.

Rush Street Interactive: Current price is $16.78. The 52 week high is $26.55 while the low is $9.47. The recent ground breaking of a new property in Portsmouth Virginia and the prospect of expanding into Chicago Illinois are reasons for optimism. RSI has an outstanding reputation and a proven track record with sportsbooks and gaming in several jurisdictions. RSI is the retail market leader in the three most populous states that have legalized retail sports betting – Pennsylvania, Illinois and New York.

Penn National Gaming: Current price is $51.30. The 52 week high is $142.00 while the low is $43.36. Penn just opened a new casino in Morgantown,Virginia.Penn has been working with Barstool Sports on  opening sports bars in Philadelphia and Chicago as they promote the sports betting app.Louisiana is expected to offer additional sports betting licenses in January and Penn is in consideration.

Boyd Gaming Corporation: Current price is $65.39. The 52 week high is $71.00 while the low is $41.12. Boyd recieved 6 Buy reccomendations from a group of respected stock analysts. They project Boyd as having a high range of $88.00 over the next 6 months.

DraftKings:Current Price is $28.46. The 52 week high is $74.38 and the low is $25.80. DraftKings recieved an overwheming consensus to buy from 32 stock analyst. Name recognition has this as a brand that people are familar with when there is a conversation about sports betting. If the stock price goes up by 20% in 2022, you are looking at a price $34.15. If you purchase 100 shares today,your investment would increase in value by $569.00 in 2022.

 

I look at gaming stock as opportunities to invest in companies that have a presence in major markets that cater to tourism and city that have large populations.As more states add sports betting to their gaming offerings,the price and revenue of casino related stocks that have a strong online presence will go up. Do some research and find the stock and company that is right for you. Keep in mind that buying stock is an investment and should be viewed as long term speculation. Have a number in mind to sell any stock that is descending in price and value. 

If you are on LinkedIn, we can have a professional exchange there. If you chat on Twitter you can follow me for NFL & NBA.

Gaming and Entertainment Stocks: Investing in Sports Betting

Many of us have recently recieved stimulus money from the federal government.This is also income tax season. There will be millions of Americans entitled to tax refunds. If you are in a position to speculate on the stock market, the stimulus money and /or the income tax return can jump start that initiative. Looking for reasons and an industry to invest in? Read more!

The economy is slowly returning to Pre Covid levels. Restaurants are expanding their capacity and hours of operations. Casinos are allowing food and beverages to be served in gaming areas. Alcohol has returned to the pit table games. The states are looking to expand revenue options thru gaming.

Sports Betting and online gaming are two popular concepts that have been adopted by as many as 22 states presently.  This is the ideal time to look at investing opportunities in gaming and sports wagering companies. 

I look for stocks based on affordability and profit magin. I research what the price is presently and look at the historical trends of the stock. If a stock is trading at $25 and a year earlier  had a purchase price of $50, I see a potential growth. I will look at the business plans of that company and determine if they are a good buy. I also set a price that I would be content to sell the stock at. If I bought 100 shares at $25, I would be happy to have the stock reach $35 a share. Contrastly, I have a depreciation price where I would sell and cut my losses. If the stock goes under 20 and has never done that in a 3 year period, I will sell and look to start again with another stock.Looking for the hottest deals and best gaming stocks?  continue reading after the video.

Draft Kings: The current price is $48. The median expected price in the next 12 months is $75. It has a high estimate of 105 and a low of 41. Draft Kings made a recent acquisition of VSIN Network. “VSiN creates authentic and credible content that resonates with sports bettors at every level, whether they’re experienced or new to sports betting,” said Jason Robins, DraftKings’ co-founder, CEO and Chairman of the Board. CNN Money grade this stock as a buy.

Penn National Gaming: The current price is $86. The outlook for Penn National is good because they own Barstool Sports. Barstool is presently in 3 states and projecting to be in as many as 10 by the end of the year. The Street's Jim Cramer gave Penn a definite buy on 5/7/21. Jay Snowden,CEO of Penn National Gaming, expess optimism because of Barstool approach to player acquisition and the reopening of the economy.

Rush Street Interactive: RSI rang the opening bell on Wall Street on 1/5/21.The current price is $13. The recent moves by Rush Street are the signs of encouragement. Rush Street was nominated for the Operator of the Year by the EGR Awards for 2021. Then the announcement of Lauren Seiler as Associate Vice President of Investor Relations and Development. She brings expertise in i-gaming,sports wagering, land based operations and finance. BetRivers.com is thriving in Pennsylvania and is postioned in several new jurisdictions. Growth opportunity at the current price.

Several sports and gaming stocks have made major acquisitions. Caesars Entertainment acquired William Hill within the last two weeks.MGM Grand with  it's sports betting app, Bet MGM ,have stated they are in the top 3 in the each of the markets where the platform is available. Fan Duel or Flutter Entertainment is a definite watch because of the name recognition of the brand. PointsBet has extended into a partnership with Penn National that will include 7 states. 

There are several prominent companies that are not mentioned. You should take time to research the gaming ,sports betting and i gaming industries to find the best buy for your buck. There is a synergy between the three that offers value to the stock holder. I hold shares of several of the companies mentioned in this post.

Follow me on Twitter where I discuss #sportsbetting and #gaming entertainment.  Check out my articles in Bettors Insider and in the January edition of Igaming player. 

Christmas Gifts that a Gambler or Gaming Executive would love

With Christmas just a little more than a week away ,the scramble is on to pick out the perfect gift for the gambler or gaming executive in your life. There is a commonality in those two people. Not only do they share the same environment such as a casino, racetrack or sports book  but they are knowledgeable about the world of risk. They like the excitement and the fanfare of participating or watching games. So any of these gifts that I mention now are stocking stuffers.

The 1st is a scratch off or lottery ticket. The chance of a $1.00 ticket turning into a 6 or 7 figure payout is extremely low. But the recipient will feel like a million dollars until the drawing takes place or the result is revealed.

The 2nd is a smart watch from Apple. This serves no many functions other  than telling time. It can track the gaming executive's steps per day and the gambler withdrawals from the ATM. Either of those individuals will call and thank you on that same watch. The cost is approximately 199.00.

The 3rd is a trip to Las Vegas in 2021. No gambler or gaming executive would want to go right now, but if you plan a trip for the beginning of the 3rd quarter, they would take you up on it. A vaccine should be readily available by then. If the tickets and accommodations are booked no, you could get a good rate especially if the trip is planned mid week. Usher begins his Caesars Palace residency on July 16 2021. Tickets start at 150.00. 

Before I share the last two options here is my gift to you.

The 4th is buying a gift card from Draft Kings. This is an sports betting industry first. The recipient would love it if they live in a state that has sports betting. They could use the card to add funds to an already existing account. The account must be with Draft Kings. I am sure other operators will emulate this. The card will be available in $25 and $50 denominations  in convenience stores like Sheetz, 7 Eleven, Dollar General and Speedway. 

The 5th and final gift option is purchasing a stock from a publicly trading casino or gaming company. You may want to look at a sports betting company for the recipient. If you want to start the process you can open an E Trade account or confer with your broker if you already invest on Wall Street. Why not give a gift that gives your friend or family member more? There are several options that I see as definite buy situations. I will expand on that in a future article.

Follow me on Twitter for NBA and NFL conversation. You can see my videos and photos on Instagram. Reach out professional thru Linkedin. My website is smartresponsiblegaming.com I also write articles for Bettors Insider, where you will receive the most comprehensive gaming, casino and sports betting coverage from an outstanding staff of former writers for the Philadelphia Inquirer & Daily News.

Sports Betting 101: Why the bettor should wager with a license operator

Now that you can wager legally on sports in several states, the public has the option to bet with a casino,racetrack or daily fantasy site. The daily fantasy sites that have a good product are FanDuel and DraftKings.

No longer do you have to bet with the illegal offshore sites that may not pay you or could shut down leaving you in a difficult situation.

You can now select between the local neighborhood bookie and the regional sports betting platform.That transition will appear difficult to some of you that have a established long term relationship with a bookmaker. I know! He lets you bet on credit. You can pay when you get your check. But Ted Leonsis, owner of the Washington Capitals and head of  Monumental Sports and Entertainment , uses a great analogy. What if he gets sick and passes away. He can't pay you.

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So going legal is the way to go. You are assured of getting paid. You can place your bet in a safe environment. You can bet on things that the local bookie will not take action on. Don't take chances. Just pick winners.

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Why is Sports Betting exploding?

Donovan Mitchell exploding for a dunk!

Sports Betting is exploding in several new jurisdictions. From the player perspective, the ability to

wager legally outside of Nevada is long overdue. So casinos and racetracks are merely giving the people what they want. States were anticipating a repeal of PASPA by the Supreme Court. That is why so many put laws in place so pundits like myself can share content and opinions. States all over the US also saw the millions of dollars that Americans will wager on sports.

Las Vegas Sports Betting is coming to a state near you!

So the race is on! What state will be the leader?  Which operator offers the best odds?  FanDuel and DraftKings  are in a prime position because of their expertise with Fantasy Sports. Will this carry over to Sports betting? With so many options to choose from, the betting public is in the driver's seat.

Operators take heed! Location is important. But that alone will not be enough. But enough for now.

Get the answers to the above questions by following me on social media,

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Sports Betting Policy Summit

The U.S. Sports Betting Policy Summit was held yesterday in Washington D.C.  The magnitude of this event was so powerful the fact that the weather was increment did not diminish attendance. Topics covered included legislation, integrity and innovation. The event was put together by Spectrum Gaming Group and SportsRadar. Some of the notable panelist included Art Manteris,re known for sports wagering and Dan Spillane from the NBA league office. Naima Stevenson represented the NCAA and Jeff Stonebreaker presented the view from MLS.

  

Ted Leonsis on the right

The fireside conversation with Ted Leonsis; owner of the Washington Capitals and the Wizards was the highlight of the morning. Leonsis struck me as an owner that understand that people with expertise should be included with this sports betting and gaming phenomenon. He was able to engage the room with an understanding of common sense business practices that involve the use of analytics and mobile devices. It was a pleasure to have a private exchange with him.

While many different perspectives of what sports betting can be and how it should be regulated were proposed, I came away from the summit with two keys.

The first key is to know the landscape. The Nevada model for sports betting should be emulated but modified to a regional or local approach. The second is to make a conversion to a strong mobile application of your retail product for sport wagering. I would be happy to share some of my other thoughts about sports betting and how it can generate revenue in a start up situation. Reach out if you have inquiries and follow me on social media.

I want to acknowledge Spectrum Gaming for inviting me. They are knowledgeable and equipped to handle the business logistics of your gaming needs. SportsRadar also should be recognized for positioning themselves thru partnerships and association that can navigate your business into sports betting.

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DraftKings and the WNBA

DraftKings made headlines with the announcement that they will sponsor contests that feature WNBA players. This is another step to bring pro basketball toward the legalization of sports betting.

This helps the WNBA promote their players and bring attention to league. The exposure of WNBA is something we see the NBA has struggle to market effectively. The commercial that current NBA stars are participating in that support the women game is a good start. Watch the link of that promo here. We would like to see more WNBA highlights on NBA TV. Do a segment that is devoted to buzzer beaters. Any shot that is made at the end of the shot clock would get consideration.The moderator of the show could ask the fans to select that top one thru a twitter poll.

We also suggest a partnership with DraftKings that notes the top three fantasy WNBA players prior to their participation in any nationally televised game. This would heighten viewership and exponentially increase the fantasy action DraftKings is looking to generate. WNBA coverage is provided by ABC and ESPN.

Photos of the WNBA stars would  promote the league as well. They could range from risqué to glamour

Elena Delle Donne

Women’s basketball player Elena Delle Donne talks about what made her decide to pose naked for the magazine. “It took some convincing. My agent likes to make lists of pros and cons for me. But in the end, I really believe in athlete bodies being a powerful image in our culture and showing that there’s not just one type of female body. There are so many different variations, and we’re all powerful in our own way.”

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Candace Parker

Maya Moore

                                        

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Daily Fantasy Sports in Pennsylvania and New Jersey

This past Friday,the New Jersey Legislators passed a bill that will allow daily fantasy sports to be taxed and regulated at a rate of 10.5 %. The bill allows a fantasy sports operator to partner with a casino or racetrack if they want to. Pennsylvania is planning to allow wagering on fantasy sports.
The tax rate has not been finalized.

The upside for both states is new revenue and jobs. The online gaming arm of the casinos will continue to grow. Pennsylvania is proposing internet gambling similar to New Jersey. Daily Fantasy will attract more of a younger demographic the gaming industry.

The news about Fantasy Sports was not as favorable for DraftKings and FanDuel. They were involved in talks that would allow them to merge. The FTC announce that they could not do so because they jointly would control over 90% of the market. The direction for both companies is not clear going forward. They will remain key components as the market for fantasy sports expands in Pennsylvania and New Jersey.


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3 Bold Gaming Predictions for 2017

At the end of every year we make three bold gaming predictions for 2017. We will give a percentage of the likelihood of these predictions coming true.

Number 1 is Online Gaming is approved in Pennsylvania. This came so close in 2016. There is a shortage of revenue and limited resources available to alleviate. We await the appointments of the new members of the Pennsylvania Gaming Oversight Committee. If the legislators selected are familiar with online gaming and fantasy sports, that will expedite the process. We would love to see this in place in time for the start of the 2017-18 NFL season.  Odds of this happening are 75%.

Number 2 is Skill Based Gaming expands in New Jersey and Nevada. While there has been movement in both markets to have these types of games on the casino floor, the interest has not been overwhelming. This is because the industry is still attempting to determine how much to invest in these types of games. Is the demand worth the changing the gaming floor?  We feel it is with the right marketing strategy. The customer base must start to trend younger now.  Odds of this happening are 30%.

Number 3 is Sports Betting Legislation being discussed on Capital Hill. We see the American Gaming Association initiatives to unify efforts and bringing this into the mainstream conversation. This is an issue that crosses political party lines. The public wants it and the new administration comes from a business centric place that embraces it, given the proper controls. While a timeline for enactment is still 2 to 3 years away, the discussion starts formally in 2017. Odds of this happening are 50%.

Check back with us in 2017 and we will update you on how these predictions are trending.

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NBA Fav Five:Week Five

This feature will post every Monday during the season. We have found the perfect team. All of the players from last week performed at the levels anticipated. Lebron James, Russell Westbrook and James Harden were the key performers. Karl Anthony-Towns and Otto Porter did as expected. We will start the same team this week. This week,we will look for additional ways to evaluate players and share our findings next Monday. So compare your five to our and we will see you next week.


Here is a look at how three members of our team looked when they were drafted into the NBA.

King James

Russell Westbrook

Karl Anthony Towns

Four members of our fav five have appeared in GQ. Can you name the one that has not been in that publication?

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This Week in Gaming Review

The news from Pennsylvania was bright as of this post. The Pennsylvania House added an amendment to a bill to fix unconstitutional taxes on casinos that will include online gaming and fantasy sports. There is a small window because the State Senate has a limited amount of days left in session during the month of November. If they do not concur, the entire process will start again in 2017. The logical thing to do is to pass the bill and work out the logistics in January. Then the Commonwealth  is guaranteed  new and current revenue streams.

DraftKings and FanDuel are planning to merge according to reports from ESPN Chalk. This was rumored earlier this year but it now appears imminent.

Las Vegas is courting the NBA. MGM CEO Jim Murren is looking at current teams that are looking at relocation. This report is cited by Las Vegas Review Journal. This news is on the heels of the NHL coming to Vegas in 2017 & the Raiders considering a move there as well. This would change the view that sports betting would be bad for the integrity of the games.

MGM Grand Las Vegas

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This Week in Gaming Review

Gaming News from New Jersey took the spotlight with the announcement that Rush Street Gaming is entering the Garden State and accepting Online Wagers. Rush Street Interactive can now accept wagers from any patrons within the State of New Jersey. The website is playsugarhouse.com.

DraftKings paid millions of dollars this past week to make good on a promotional claim that a guaranteed jackpot would be in place. This is a good business move that shows credibility. FanDuel and Yahoo reported similar shortfalls though not as high as DraftKings.  It does not bode well for the marketing analysis that allow for an overestimation of the amount of entries. The next several weeks should have a lower guarantee based on the amount of interest from week 1.

MGM National Harbor is still on target for a 4th quarter opening. The Tables Games Team and the Food & Beverage Department are participating in community events in the DC area. Here are two photos that will give a glimpse of what to expect in the coming months.

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                                                          7 days until #G2E2016

This Week in Gaming Review

The New York State Gaming Commission on Monday issued temporary permits to five fantasy sports operators, including industry giants DraftKings and FanDuel.  Governor Cuomo signed legislation to legalize Fantasy Sports Betting earlier this month. This is great for New York Football and Basketball fans.

Yahoo, Fantasy Draft and Draft also received temporary permits Monday. The companies were allowed to begin offering paid contests immediately. This is the 1st step toward sports betting. It will not be the last.

Glenn Straub. owner of the Revel Casino, now claims the property will have a soft Oct. 1 opening and be fully functioning by the end of December. The site is awaiting zoning and inspection by Atlantic City's L&I Department. There appears to be uncertainty about this.  Stay tuned for updates.

Governor Christie stated he is in favor of gaming expansion outside of Atlantic City. If this happens, casinos will be in North Jersey. This will not only affect AC but will hit some of  the Pennsylvania Casinos as well.  Mount Airy and Sands come to mind.  The proximity to the New Jersey border and the New York crowd are the respective reasons for both of these operators.

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                                                        27 days until #G2E2016

Daily Fantasy Football Tips (2)

The key to having a successful Daily Fantasy Football team is doing your homework. Spend some quality time in researching the players that you are considering for your team. Don't allow emotion
or home team bias influence your choices. The decision to pick a player should be based on statistics and data that consist of past performances.

I would also consider if the player is going into a contract year. If free agency is looming, the player has a real football incentive to play well. His stock will rise if he is productive and that will give you
additional fantasy points.

                  
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                                                        36 days until #G2E2016

Daily Fantasy Football Tips (1)

For the next three weeks we will provide periodic tips for Daily Fantasy Football fans. This will benefit the fans of DraftKings, FanDuel and Yahoo. If you are selecting a team, look to stacking your team for the optimum results. Stacking is pairing the quarterback with a receiver or running back that play on the same team. This is a smart play because they are dependent on each other for production.

Pairing Matt Ryan with Julio Jones is an example.

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                                                        38 days until #G2E2016

This Week in Gaming Review

New York has made a major move with authorizing the regulation of Daily Fantasy Sports. New York has 13% of the market of Fantasy Sports Players. This is great news for FanDuel and DraftKings. There was talk of these two merging. They may not have to if other states decide to follow New York.

The news was not as good for New Jersey and the quest for sports betting. The 3rd Circuit Court decided in a vote of 10-2 that the federal ban should be upheld. The next move is taking the challenge to the United States Supreme Court. There is no timetable or guarantee that the top judicial body would hear the case. An act of Congress may be a viable alternative. The American Gaming Association is in favor of having the sports betting ban repealed. Fantasy is clearing the way.

MGM is in Atlantic City doing auditions for dealers. They are mandated to hire a large percentage of their staff from the residents in the DC area where the casino is located. They have a sizable labor pool to choose from. Atlantic City is a great place to start.

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                                                        42 days until #G2E2016

This Week in Gaming Review

This week, the Pennsylvania House of Representatives passed a preliminary bill to expand gaming.
This expansion will include IGaming, Daily Fantasy Sports and slot machines at airports.

This is what online gaming enthusiast have been waiting for.Pennsylvania need the revenue and the public demand for gambling online is increasing every year. While the projected revenue varies, it will be at least 9 to 12 months before implementation. The next step is the bill moving to the Pennsylvania State Senate. While nothing is guaranteed, I like the chances of this passing.

New York made headlines with a reversal. They authorize Daily Fantasy Sports just months after issuing a ban on FanDuel and DraftKings. The following is an except from Sports Illustrated.
"Indeed, this was the reason for the cease-and-desist orders in 2015. Now, however, amended laws will seek to bring clarity to the matter. The full bill can be found here. Crucially, it alters the state’s gambling laws to include “regulated interactive fantasy sports contests with an entry fee.”

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