$29.5 Million Sports Betting Scheme Unraveled by SEC

On August 30, 2019, the Securities and Exchange Commission (SEC) filed a complaint in the U.S. District Court of Nevada against John Thomas, 74, and Thomas Becker, 72. The SEC alleges Thomas and Becker ran a fraudulent $29.5 million sports betting investment scheme. The two men raised the funds from 600 investors across 40 states by “offering investors pooled investment contracts whereby [the investors] obtain the opportunity to share in the purported profits” from Thomas’ and Becker’s “proprietary sports betting system.”

Thomas and Becker communicated …

Continue Reading

NFL Partners with Australian Sports Bookmaker, Signals Future Cooperation in America

With the emergence of widespread sports betting in the USA, we’ve seen the vast majority of the major sports leagues – including the NBA, MLB, and NHL – join forces with sports books, allowing the bookmakers to use live statistics and official licensing on their platforms.

Notably absent from these deals, however, has been the NFL. While ESPNews recently rebranded to show live odds and statistics concurrently with its primary programming, nothing official from the NFL may be shown—the sport is listed as Professional Football, …

Continue Reading

Caesars, ESPN Reach Media Partnership Deal

On May 14, 2019, ESPN announced a media content partnership with Caesars Entertainment. Similar to Caesars’ deal with Bleacher Report, its LINQ Hotel & Casino in Las Vegas will host a brand new ESPN-branded studio, where they will produce sports-betting-themed content and contribute to ESPN’s Daily Wager show.

In addition to the studio, Caesars will serve as ESPN’s official odds data supplier throughout its platform. Per ESPN’s Vice President of Business Development Mike Morrison, “[w]e are poised to expand our coverage in a big way …

Continue Reading

Washington D.C. Mayor Signs Sports Betting Legislation

On Wednesday, January 23, Washington D.C. mayor Muriel Bowser signed the Sports Wagering Lottery Amendment Act, bringing the nation’s capital one step closer to becoming the next American jurisdiction to legalize sports betting.

Back in December, the D.C. Council voted 11-2 to legalize sports betting within the city’s stadiums, private businesses, and on a mobile app. Uniquely, this authorization made D.C. the first American jurisdiction without casinos to authorize sports books.

With Major Bowser’s signature, the bill now enters a 60-day review period by the …

Continue Reading

NFL Reaches Limited Sponsor Deal with Caesars Entertainment

On January 3, 2019, the National Football League announced its inaugural league-wide sponsorship deal with a casino company, Caesars Entertainment. While the financial terms have not yet been disclosed by Caesars or the NFL, it has been reported that the partnership will run for three years, costing $30 million per year.

Previously, seven NFL clubs – the Atlanta Falcons, Baltimore Ravens, Chicago Bears, Indianapolis Colts, New Orleans Saints, Oakland Raiders, and the Philadelphia Eagles – maintained relationships with Caesars. This new deal also comes prior …

Continue Reading

FanDuel Strikes Deal with NHL as Official Sports Betting Partner

Via joint press release, FanDuel announced its partnership with the NHL, unveiling its multi-year deal as the official daily fantasy sports partner and sports betting partner.

The partnership is not the first of its kind for the NHL, as the organization announced a comparable agreement with MGM Resorts International shortly before its FanDuel partnership.

The NHL’s strategy to cozy up with sports betting giants is a sharp turn away from its previous views on the gambling practice. Back in 2016, NHL Commissioner Gary Bettman stated …

Continue Reading

Over/Under: Two Steps Forward and One Step Back for Legal Betting in New Jersey

On Tuesday, May, 25, 2018 the Sports and Entertainment Law Insider discussed the Supreme Court’s landmark decision to strike down a federal statute controlling the states’ ability to regulate sports gambling. Shortly after, New Jersey became the first state to officially make wagering legal and gain access to the estimated $150 billion market by approving Assembly Bill A-411.

However, America’s professional sports leagues did not respond positively to New Jerseys’ legislation. Specifically, the leagues are worried about the potential for corruption and athletes manipulating the …

Continue Reading

NFL Issues Statement on Regulation of Sports Gambling

On Monday, May 14, 2018, the Supreme Court struck down a federal law that prohibited states from authorizing gambling on sports. The ruling opened the door for states to legalize and regulate the gambling industry within their borders. However, the ruling also leaves open the possibility that Congress will act to set national standards in the regulation of sports gambling. Indeed, shortly after the ruling was handed down, Sen. Orrin Hatch (Utah) said that he will introduce legislation to regulate sports gambling on a federal …

Continue Reading

NCAA’s Response to Legal Gambling: Rule Changes and Support for Federal Regulation

In response to the May 14, 2018 Supreme Court ruling which opened the door for states to legalize sports gambling, the National Collegiate Athletic Association (NCAA) released a statement outlining its reaction to the decision. The statement is headlined with support for federal regulation of the sports gambling industry as a “necessary safeguard to the integrity of college sports.” In addition, the NCAA Board of Governors has temporarily suspended its rule prohibiting championship events from being held in states that offer legal sports betting in …

Continue Reading

Indian Gaming Association Latest to Join Coalition to Legalize Sports Gambling

On June 26, 2017, the Supreme Court agreed to tackle the hotly debated question of whether the federal government should be able to prohibit states from legalizing sports gambling. The lawsuit commenced six years ago, when New Jersey Governor Chris Christie implemented a state law that would enable New Jersey casinos and racetracks to offer sports wagers. That New Jersey law was then challenged by the NCAA and “Big Four” of professional sports leagues, the NFL, NBA, MLB, and NHL. The opposition argued that the …

Continue Reading