The Florida Council on Compulsive Gambling is facing challenges meeting demand after the legalization of sports betting apps in Florida. FanDuel's market share has increased by 100 basis points since ESPN Bet launched, while DraftKings has seen a decrease of 170 bps. Penn Entertainment is acquiring WynnBet's New York license to introduce ESPN Bet in the market, with a $25 million acquisition deal. The American Gaming Association notes a concerning trend of young men feeling they are betting more than they should, with the impact of legal sports betting on problem gambling still uncertain.
After sports betting apps become legal in #Florida, gambling addiction hotline struggles to meet demand https://t.co/6dwLOss9gH
PENN pays $25m to acquire New York sports betting licence from Wynn Interactive https://t.co/p8LAZJGxiM https://t.co/mLEtF6RWQS
Gaming investor Lloyd Danzig to LSR on ESPN Bet NY: "Penn's decision to launch ESPN Bet in New York aligns with its market expansion goals. New York boasts the largest revenue-generating online sports betting market, four of the 10 most valuable sports franchises in the world,…
Penn Entertainment acquired the New York sports betting license held by Wynn Resorts’ interactive unit and plans to introduce its ESPN Bet brand in the market this year https://t.co/lDCg13aTng
BREAKING: Penn Entertainment has agreed to acquire Wynn Interactive Holdings' New York sports betting licences, clearing the way for Penn to launch ESPN Bet in the state in 2024. https://t.co/CqjJ3dLoU7
ESPN Bet gets the keys to the New York market. https://t.co/ep6wBanjBH
This seems like a pretty big deal "As part of the transaction, PENN is acquiring WSI US, LLC, from Wynn Interactive Holdings for $25 million. WSI US, LLC is the entity that holds the mobile sports wagering licenses that were previously issued by the New York State Gaming…
Penn is acquiring WynnBet's NY license so ESPN Bet is coming to NY https://t.co/UnwTms4qsQ
"Since launching ESPN Bet, Penn has accounted for roughly 7% of online sports betting handle in the US, according to a note from Citizens JMP Securities." @sam_mcquill https://t.co/hib5MAmMPl
"Of the young men wagering online, nearly half feel they're betting more than they should." Shockingly, American Gaming Assn. says whether problem gambling has gotten bigger because sports betting is legal is an "unknown." https://t.co/PSaLgZ53f9
i'm noticing a dangerous trend amongst young men in the US and this past weekend really cemented it for me. gambling is being glamorized. many are mislabeling sports betting as "investing." this the word choice that some of my friends are using. they're falling for the trap.
FanDuel's share of the online betting market is up 100 basis points since ESPN Bet launched, while DraftKings is down 170 bps, says Citizens JMP Securities. Of 3 states to report January handle so far: •FanDuel - 38% •DraftKings - 34% •BetMGM/Caesars/ESPN - 7%
No easy path for @ESPNBet to break into the upper tier of sports betting looking at where the apps in @AppStore this morning $PENN $DIS https://t.co/AQ6BTnalQy
WPTV: "The Florida Council on Compulsive Gambling, the nonprofit contracted to run Florida's addictive gambling prevention program, said it's struggling to meet demand after sports betting apps allowed more consumers to make bets." https://t.co/PVNPKNsfRd
Sports betting apps make it easier for consumers to place their bets, but now the Florida Council on Compulsive Gambling said it’s struggling to meet demand. Here's what to know. https://t.co/a14yakcvNE