Outlook on Sports Betting Begins to Shift as Regulations Ease
- FinancialBuzz.com News Commentary
NEW YORK, July 30, 2020 /PRNewswire/ -- After months of canceled sports events, one of America's favorite past times is slowly coming back. With sports, online betting is also reemerging as a topic of discussion. As it is still a relatively new industry and the legal infrastructure for it is still often unclear, some states are acting to change the situation. For example, just this week, the Massachusetts House passed a USD 459 Million economic development bill, which includes funding for non-profits affected by the pandemic, local projects and language legalizing sports betting. In particular, the new bill describes three license categories for betting, one for online and in-person betting at casinos, a second for in-person betting at race tracks and the third for sports betting on mobile or other digital-only platforms. FansUnite Entertainment Inc. (OTC: FUNFF) (CSE: FANS), Penn National Gaming, Inc. (NASDAQ: PENN), Caesars Entertainment (NASDAQ: CZR), Boyd Gaming Corporation (NYSE: BYD), International Game Technology PLC (NYSE: IGT)
Many other developments in the sports betting market are being introduced, now at a faster pace than ever before. Just recently, DraftKings announced that it enhanced its sports sponsorship portfolio as leagues continue to resume operations, previously canceled due to the pandemic, securing a deal with the PGA Tour. According to a report by CNBC, Norb Gambuzza, PGA Tour Senior Vice President of Media and Gaming explained in a statement that "the PGA Tour couldn't be more pleased with growing our collaboration with DraftKings… The expansion of the relationship to now include sports betting is a natural evolution and one which fully supports and promotes the PGA TOUR's objectives of reaching and engaging new segments of fans while introducing them to our players, tournaments and media platforms."
FansUnite Entertainment Inc. (OTC: FUNFF) (CSE: FANS) yesterday announced breaking news that it, "is preparing to welcome back Scottish football for the first time in five months. The 2020/21 Scottish Premiership season is set to start on Saturday, August 1, 2020.
The new season kicks off this weekend with six games played over Saturday, Sunday, and Monday. Fans will be able to watch this weekend's best matches, and more fixtures than ever before through Sky Sports exclusive deal to televise 48 Premiership games this season.