Sports Betting News: Hearings Underway in Mass, Rotogrinders, PocketFive Acquired

Written by:
Aaron Goldstein
Published on:

Hearings were underway Tuesday and Wednesday to determine if sports betting should be legalized in the state of Massachusetts.  The public will offer feedback on Wednesday. 

*6 weeks free trial - test drive - best in the biz
*Deposit with Bitcoin - They'll double it!
*Get your own domain, customized website, logo
*Switch in under an hour, earn mrore $$ for doing so
*Odds featured on DonBest.com
*Thousands of betting options daily + live in-play
*Easy and discreet payment options include gift cards
*Walmart gift cards also accepted
Start Earning Money From Your Sheet Here

The Joint Committee on Economic Development and Emerging Technologies will hear from the state’s casino operators, online fantasy sports companies, the state lottery, the Massachusetts Gaming Commission, Major League Baseball, and the NBA.

"Its very complicated," said  Democratic State Senator Eric Lesser of Longmeadow, the co-chair of the committee.

"I think in Massachusetts we want to be deliberate, we want to be thorough and I think we want a product and a law that is fashioned that takes all these nuances into consideration."

So far, Rhode Island is the only state that has legalized sports wagering.  That state made an epic $40 million error in its industry forecasting. That miscalculation has resulted in a $40 million hole in the next year's budget.

Maine is currently considering legalization of sprots betting as well.

"And there are potentially enormous social consequences to the decisions that are made, so we are going to be deliberate and judicious about how we approach it," said Lesser.

States can now offer sports betting after the US Supreme Court overturned decades of prohibition last May.

More Sports Betting News

Sports Betting on the Rise, Massachusetts Gaming Commission Chair Says
Illinois Lawmakers Pushing Sports Betting Decision to Limit
Will sports betting become legal in Louisiana?

Rotogrinders has Been Acquired

Better Collective, a digital sportsbook developer, has acquired 60% of the shares in fantasy sports and handicapping media outlet Rotogrinders for USD 21 million, and in the period 2022-2024, it will buy the remaining 40%.

Rotogrinders is owned by Rical LLC, which is also the parent company of Sports Handle, USBets.com, PennBets and the popular poker venue PocketFives.com. 

In the period 2022-2024, Better Collective will acquire the remaining 40% of the shares of RotoGrinders at a valuation based upon an EBITDA multiple between 5x and 10x. The valuation will be determined by the future growth and profitability of RotoGrinders and Better Collective's other business in the United States.  Source: Yogonet

- Aaron Goldstein, Gambling911.com

Gambling News

MGM Bounces Check for Winning Sports Bettor....Twice

MGM Bounces Check for Winning Sports Bettor....Twice

A San Diego man who placed bets in Las Vegas during March Madness looks like he may be getting paid by MGM after two previous checks bounced.

Five Biggest Surprises in the Regulated US Sports Betting Market So Far

Five Biggest Surprises in the Regulated US Sports Betting Market So Far

In May 2018 the US Supreme Court ruled to permit sports betting across the nation with most states required to amend their own laws.  Even today, the future of this emerging industry remains a great mystery.  It's been over a year now since the precedent setting decision and there have already been some pleasant - and not-so-pleasant - surprises.  Gambling911.com looks at the five biggest.

Gambling and Sports Betting News Wire - June 23 2019

Here are today's headlines in the world of gambling and sports betting as they happen - Sunday June 23, 2019.

Wynn Boston Represents Company's Future

Wynn Boston Represents Company's Future

Wynn Resorts is hoping the $2.6 billion casino it’s opening on the outskirts of Boston can be a model for the company’s future expansion.

The Bookies True Advantage

The Bookies True Advantage

Bookies have one inherent responsibility and it’s not making money! Of course, if you are a bookie you are in this business to make money and the bottom line is your number one concern.