From the introduction of sports betting in many new states to continued mergers and acquisitions, 2019 was a year that was filled with exciting events in the betting arena. Here are some of the highlights.
Review of betting events in 2019
Sports betting made progress
One of last year’s highlights was the progress related to sports betting across many states. The pivotal point as far as sports betting is concerned began in 2018 with the Supreme Court striking down the ban imposed by the federal government on sports wagering.
By December of 2018, eight states had offered sports betting. At the beginning of 2019, sports betting was possible in Delaware, West Virginia, New Jersey, New Mexico, Nevada, Rhode Island, and Pennsylvania. Since the Supreme Court ruling, sports betting legalization progressed at a remarkable pace of almost one new state in a month.
In 2019 Arkansas, Iowa, New York, Oregon and Indiana also began offering legalized sports betting.
In terms of revenue, more than $11 billion was collected from sports betting in 2019, breaking the previous record of $750 million.
Mergers and acquisitions
Top casino operators continued to leverage merger opportunities to scale up operations.
On December 23, 2019, DraftKings entered into an agreement with SBTech, a sports game technology company and Diamond Eagle Acquisition Corp, an acquisition company. As per this agreement, the new company is slated to be the first online gaming and betting company that is vertically-integrated in the U.S. A vertical integration is when the company also owns the supply chain.
Two other mergers also made headlines in 2019. Penn National Gaming entered into agreements with The Stars Group, The Score, DraftKings and PointsBet USA for market access.
In November, approval was received for Eldorado Resorts, Inc. acquisition of Caesars in a $17.3 billion dollar deal.
William Hill US, purchased CG Technology’s sportsbook assets that included the latter’s Bahamas and Nevada operations. William Hill bought sportsbook properties at The Venetian and The Palazzo, The Cosmopolitan of Las Vegas, Tropicana and Silverton, and The Palms.
Upon the close of the deal, there will be less than two dozen disparate sportsbook operators throughout the state of Nevada.
Leagues partner with casino operators
William Hill also signed a partnership deal with NBA in October of 2019 to become an authorized gaming operator (AGO). The others that have already forged partnership deals with the NBA include FanDuel, MGM Resorts, and The Stars Group. William Hill also entered into a deal with Monumental Sports.
Apart from the NBA, the other league that joined hands with operators was Major League Baseball that partnered with DraftKings, FanDuel, and The Stars Group.
The new CrystalBetting Terminal
The G2E Summit held in Las Vegas introduced exciting new innovations. The highlight of the Summit was the new terminal for sports betting by IGT which is in use in Mississippi casino.
The CrystalBetting Terminal offers a V.I.P. style experience according to IGT’s website. These terminals will soon make their way to Las Vegas and have a 27-inch touch screen.
Sports bettors can view live matches, make bets while also making parlay wagers in this terminal.