DraftKings, Underdog Submit Licensing Applications in Mizzou
As Missouri nears a fourth-quarter launch of legal sports betting, a pair of operators have gotten a jump on the competition in meeting their licensing obligations.
Two sportsbooks, DraftKings and Underdog, have submitted licensing applications with the state, the Missouri Gaming Commission confirmed. As of June 19, the companies are the only two operators that have turned in the requisite filings, according to the MGC. FanDuel, DraftKings’ archrival, is also expected to submit an application before the deadline imposed by the MGC. In total, FanDuel and DraftKings spent more than $40 million in support of a ballot measure advocating for the legalization of sports wagering in the state.
There are several pathways to attaining licensure in the Show-Me-State. The most immediate deadline falls on July 15 when applications for so-called untethered licenses are due. The MGC will award those licenses by August 15. In addition, another classification of license applications must be submitted by Sept. 12.
Operators have the option of gaining market access through partnerships with professional sports teams. Already, bet365 has inked a partnership with the St. Louis Cardinals of MLB. Century Casinos has also named BetMGM as its sports betting partner.
Missouri is on track to go live with sports betting by Dec. 1. Days later, the Kansas City Chiefs will appear in primetime on Sunday Night Football. The Chiefs are seeking their fourth straight AFC Championship.
Ohio AG Yost Leads Coalition for Reversal on Prediction Markets
A large swath of state attorneys general have joined Ohio AG Dave Yost in pushing an appellate court to overturn a ruling on the legality of prediction markets in New Jersey.
Yost and 35 other state attorneys filed an amicus brief on June 17 urging the U.S. Court of Appeals for the Third Circuit to side with New Jersey in a legal battle with Kalshi. Amid the contentious battle, questions remain on whether a provision in the Commodity Exchange Act allows the federal government to preempt state regulations on sports wagering when the betting propositions are offered through event contracts.
While Kalshi is partnering with third-party providers to establish anti-money laundering safeguards for its platform, event contracts are not currently taxed on the state level.
“States rightfully have the ability to protect their citizens through the negative consequences of online gaming no matter how it’s packaged,” said Yost in a statement. “We’re protecting the unprotected.”
Yost has been joined by a number of prominent states on the East Coast, including New York, Pennsylvania, Connecticut and Massachusetts. The brief also gained support from a number of states throughout the Midwest such as Illinois, Indiana, Iowa, Michigan and Minnesota.
Kalshi CEO Tarek Mansour has levied criticism toward state attorney generals for attempts to restrict event contracts on sports. Mansour supports regulation of prediction markets on the federal level through the U.S. Commodity Futures Trading Commission. Earlier this week, the Third Circuit granted Kalshi a 14-day extension until July 24 to file a brief in response to New Jersey’s opening brief.
British Basketball Players Caught Up in Match-Fixing Scandal
The British Gambling Commission, British Basketball Federation (BBF) and International Basketball Federation (FIBA) have announced a series of sanctions against six basketball players after deeming they helped fix matches.
A joint investigation by the commission’s Sport Betting Intelligence Unit (SBIU), BBF and FIBA focused on the British Basketball League (BBL). The league disbanded at the end of the 2023-24 season after 38 years of competition.
This probe uncovered wrongdoing among former Surrey Scorchers players Quincy Taylor, Charleston Dobbs, Shakem Johnston, Padiet Wang and Joshua McFolley.
The players were found to have fixed matches during the 2022-23 season, including at least six Scorchers games. Incidents involved taking payments to fix the results of matches or being involved in the planning to fix games.
As such, the BBF handed lifetime bans and £3,000 ($4,080) fines to both Taylor and Dobbs. Meanwhile, Johnston and Wang were issued worldwide bans by FIBA, while McFolley was suspended until Sept. 2034.
The other individual in the case was Dean Wanliss, another former player who previously played for the Scorchers. Wanliss was found to have bet on basketball matches between 2019-2021, in breach of regulations.
Wanliss was investigated by FIBA, Spanish Basketball Federation, the International Olympic Committee Monitoring Unit and the wider British betting industry. He was fined £3,000 and will serve a three-year ban from the sport.
“This case underscores the commitment of FIBA, the BBF, the Gambling Commission and other stakeholders to maintaining integrity in sport and enforcing a zero-tolerance policy toward betting-related corruption,” the commission said.
