LSR: US sportsbooks backing off or doubling down?

In the ever-growing US online sports gambling industry, the Legal Sports Report (LSR) team tackle the variance of sportsbooks either backing off with some of its advertisement, or doubling down in true gambling fashion. 

Host Matt Brown, along with LSR reporters Adam Candee and Dustin Gouker, explored some of the recent calls gambling firms Caesars and Churchill Downs and their approach currently when handling the market at present. 

“This is a situation that goes back to last week,” stated Candee. 

“Our reporter Brad Allen reported last week that Caesars are going to pull back from T.V advertising. That was sort of the first of what kicked off a week of these interesting pieces of news that have to do with either companies pulling back or those companies who are willing to double-down.

“We also heard that Churchill Downs is going to wind down its buyers’ brand which honestly never made any real sort of dent in US sports betting. Their CEO made similar remarks stating ‘it’s an overheated market, it’s very difficult to make a profit’. 

“Also, we look at Bally’s and they have been delaying their relaunch saying ‘if we go out there right now with a huge push and a bad product, we feel we’re going to be behind the 8 ball like some of these places others have ended up.” 

There was also the huge news that 888holdings was penalised with a £9.4 million fine in relation to money laundering failures and social responsibility.

The US-based podcast discussed if this could be a warning to US sportsbooks in the premature phases of online sports gambling in the States. 

Gouker commented: “Let’s imagine if this story had dropped in the US. If this was happening to some US customers to a great degree I’d be worried about it for the sake of sports gambling here in the US.

Gouker added: “Hopefully this isn’t going to great effect here facing sportsbooks ,but this is a company who has a foothold and is now under scrutiny in the UK. This is a tale for us to watch because you don’t want to see a repeat of this here in the US otherwise sports betting is going to develop a lot differently out of this.”

The trio went on to discuss a range of US gambling related news, from sports betting in Virginia continuing to grow, to a South Dakota bureaucrat likening sports betting to murder.