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Are Americans spending their stimulus checks on online casino gambling?

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PlayPennsylvania.com: Sportsbooks, online casinos post near-record September

 

The IRS has now sent out more than 130 million stimulus checks as part of President Biden’s American Rescue Plan. The payments are designed to stimulate spending and help kick-start the US economy, and when the plan was first announced, most Americans said the money would go towards essential expenses like groceries, bills and housing costs. However, there are indications that at least some are using the windfall to speculate with casino games and sports betting.  

A booming sector 

Some could argue that the gambling sector is one of the few American industries that is not in need of extra stimulation. True, gambling hubs like Las Vegas and Atlantic City felt the pinch harder than most, but evolving legislation has seen a dramatic upsurge in online casino activity across the US that has more than compensated for the revenue drops at land-based facilities over the past year. 

It’s a pattern that has been repeated time and again, and not just in the US. Chief Editor Mark Pilarski of Casino Senpai said that they have observed a clear spike in interest worldwide on the topic of online casinos since last March.  

Of course, the online gambling market is still in its infancy in the US compared to places like the UK and even Canada. Delaware, New Jersey and Pennsylvania are still the only states that are fully open to online casino gambling, although Nevada also has online poker rooms. Still, in those states, gamblers have been making hay, and all have seen online gambling revenue increase dramatically since the first lockdown took effect 12 months ago. 

Sports betting surge 

Even if you include Nevada, that still accounts for only eight percent of the population, however, and while there has almost certainly been a certain amount of illicit online gambling activity across state lines, geofencing technology keeps that to a minimum.  

The result has seen many would-be casino gamblers turn to the world of sports betting instead. Here, 25 states have now legalized, and more than half of them permit online betting. At the height of lockdown, when the major sports leagues were inactive, this led to the somewhat surreal sight of American sports fans betting on everything from soccer in Belarus to baseball in South Korea. eSport betting also saw a spike in interest. 

However, it was when the major franchises got back underway that the full force of sport betting became obvious. Wagers placed on the NBA and NHL have been higher than previous years, and then, of course, at the beginning of February, we had the greatest sports betting barometer of them all in the shape of Super Bowl LV.  

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In the run up to the game, Bill Miller, the CEO and President of the American Gaming Committee, said: “This year’s Super Bowl is expected to draw the largest single-event legal handle in American sports betting history. With a robust legal market, Americans are abandoning illegal bookies and taking their action into the regulated marketplace in record numbers. 

Miller went on to predict that 7.6 million Americans would place their bets online, Some states have still to release their final numbers, but from the data available so far, it seems that Miller was right on the money. In New Jersey, Super Bowl betting more than doubled over the previous year, while in Pennsylvania it was up by more than 75 percent. Results like these more than make up for the 13 percent drop reported by Nevada due to lower numbers turning up for in-person betting on The Strip.  

 

Recovery offline, too 

Having said that, the news from Vegas and Atlantic City is not all bad – indeed, it is positively brimming with optimism compared with this time last year, and it all comes back around to those stimulus checks. Let’s be honest, if you are going to blow a thousand dollars or more at the casino, you’re more likely to want to do that in person than via a phone app.  

Vegas is buzzing again since it reopened, and aside from the reduced numbers and the regular sight of people wearing masks, it almost feels like the Sin City of old. And after everything we have gone through, why not – surely there are few better places to celebrate spring break and spend a $1,400 windfall.  

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Rebranded VSiN Las Vegas 1230 The Game Brings 24-7 Sports Betting Talk Format to Vegas Radio Listeners Just Ahead of Biggest Sports Betting Day of the Year

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Lotus Las Vegas is expanding its partnership with VSiN, The Sports Betting Network, to deliver 24-7 sports betting content to Las Vegas radio listeners. The rebranded VSiN Las Vegas 1230 The Game provides sports enthusiasts the expert sports betting insights and analysis they need – all straight from the floor of one of the biggest sportsbooks in the world at Circa Resort and Casino, stationed in the heart of downtown Las Vegas.

“We are thrilled to announce the rebranding of 1230 The Game as VSiN Las Vegas 1230 The Game, solidifying our long-standing partnership with VsiN. As one of the first stations to bring VSiN content to terrestrial radio, we’ve always shared a commitment to delivering the best in sports betting insights to our listeners. This next step underscores our dedication to providing cutting-edge content and highlights the growth and impact of VSiN in the world of sports broadcasting,” said Natalie Marsh, General Manager at Lotus Broadcasting.

VSiN Las Vegas 1230 The Game delivers news, analysis, and insights that bettors need to make informed wagering decisions. As the voice of the sports betting industry, VSiN delivers the most credible, actionable information to sports fans and betting enthusiasts by tapping the industry’s most knowledgeable sports betting experts, legendary book makers, former athletes, and league executives.

“Like everyone else involved in this partnership, I’m very excited to see the rebranding of 1230 The Game become officially VSiN Las Vegas 1230 The Game. We have had a lengthy partnership with VSiN and all this does is continue to grow it and take it to the next level. Excited about what’s to come next with the dedication from us and VSiN, forming VSIN Las Vegas 1230 The Game,” said Q Myers, Las Vegas Sports Network Program Director and On-Air Host on Raider Nation Radio 920.

“Lotus has been an amazing partner in helping VSiN build a passionate local following, hungry for credible sports betting information. It’s that passion, and the excitement of being at the center of the sports and entertainment capital of the world, that we try to capture for our audience in the rest of the country. We’re excited to kick off this relationship in time to bring non-stop coverage of the Big Game to our local listeners,” said Brian Musburger, president and chief business officer at VSiN.

This 24-7 sports betting programming launches just ahead of the single biggest sports betting event of the year and VSiN will deliver non-stop coverage leading into Super Sunday, including reports directly from the action in New Orleans. VSiN personalities Adam Schein, John Hansen, and Jonathan Von Tobel will do shows live on location.

The network will showcase insights from all of its experts, professional bettors and bookmakers on Super Sunday with live coverage from Las Vegas beginning at 5 a.m. Pacific and continuing through midnight.

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Robinhood Launches “Pro Football Championship” Contracts

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Robinhood Derivatives LLC (RHD) has launched event contracts for the Pro Football Championship. The trading platform launched the event contracts on Monday to let U.S. customers wager on the outcome of the Super Bowl clash, seeking to tap into the betting mania around one of the most iconic sporting events in the country.

“Robinhood’s mission is to democratize finance for all. With an emerging asset class like event contracts, we recognize an opportunity to better serve our customers as their interests converge across the markets, news, sports, and entertainment,” the company said.

Available in all 50 states through KalshiEX LLC, a regulated exchange, the Pro Football Championship event contract gives eligible customers the power to trade on the outcome of the big game.

Event contracts for the Pro Football Championship leverage the power and rigor of financial market structure to facilitate greater liquidity, transparency, and price discovery.

The Pro Football Championship event contract lets customers trade one of two different event contracts based on their prediction for “who will win” between Kansas City or Philadelphia. To participate, customers must download the latest version of the app, and apply and meet certain criteria to be approved for a RHD account.

Event contracts for the Pro Football Championship follows the launch of the Presidential Election Market last October, which enabled customers to trade event contracts through RHD based on their prediction for “who will win the 2024 presidential election.”

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Compliance Updates

Florida Gaming Control Commission Demands Overseas Bookmakers and Casinos Cease Their Illegal Online Gambling Operations in Florida

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The Florida Gaming Control Commission (FGCC) demanded that three overseas bookmakers and casinos halt their illegal online gambling operations in Florida. These overseas bookmakers and casinos host online gambling websites accessible to Florida residents and visitors. FGCC sent cease-and-desist letters to Milvus Ltc, d/b/a BetUS.com.pa, Harp Media B.V. d/b/a Bovada.lv, and Gaming Services Provider, N.V. d/b/a MyBookie.ag.

The websites operated by these overseas bookmakers and casinos only offer illegal wagers. As FGCC explained in its cease-and-desist letter:

[The gambling websites offered by your overseas bookmaking and casino operation] offers or accepts wagering on sports and horse races, including betting on point spreads, moneylines, and totals, as well as proposition bets and futures in the sportsbook and adding money to bet slips in the racebook. Under Florida law, this conduct is a felony offense. See § 849.14, Fla. Stat. Further, it is a felony offense to receive illegal wagers on the result of any trial or contest of skill, speed or power or endurance of human or beast, or to aid, assist, or abet such illegal wagering. Id.

“Gaming, both land-based and online, is strictly regulated in Florida. For example, when it comes to slot machine gaming, counting the eight legal, state-licensed slot machine businesses, and the six tribal gaming locations currently operated by the Seminole Tribe of Florida, there are only fourteen legal slot machine businesses in Florida. The only online sportsbook operating lawfully in Florida is the Seminole Tribe of Florida’s Hard Rock Bet. Anyone in Florida betting on the Big Game needs to know this. Bettor beware,” explained Florida Gaming Control Commission Executive Director Ross Marshman.

These overseas bookmakers and casinos’ illegal conduct is not limited to sports betting and horse racing. As explained in the FGCC cease-and-desist letter:

[The gambling website offered by the overseas bookmaking and casino operation] offers or accepts wagers on casino-style games, including slots, poker, blackjack, roulette, craps, and baccarat. It is a criminal offense to conduct unauthorized games of chance. §§ 849.08, .15, Fla. Stat. [Additionally,] you allow Florida residents to participate in illegal lotteries, such as deposit-matching promotions, giveaways of cash or prizes, and sign-up bonuses. The conduct, promotion, or advertisement of such an illegal lottery is strictly prohibited under Florida law and is a felony offense. See Art. X, § 7, Fla. Const; § 849.09, Fla. Stat.

Illegal gambling operations offer no benefits to Floridians. On the other hand, tax revenue from state-licensed slot machine businesses and revenue-sharing payments from the Seminole Tribe of Florida are used to fund valuable state programs. For example, in 2024, the Educational Enhancement Trust Fund of Florida received over $240 million in tax revenue from the eight state-licensed slot machine businesses. Florida will receive no less than $2.5 billion from the Seminole Tribe of Florida during the next five years, which is earmarked for water quality improvement, infrastructure, and management of Florida’s conservation lands.

The mission of the Florida Gaming Control Commission is to preserve and protect the integrity of gaming activities in Florida through fair regulation, licensing, effective criminal investigation, and enforcement.

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