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Joe Brennan, Jr. announced Monday that his Prime Sports has gained access into the Ohio regulated sports betting market. While congested, Brennan, Jr. promises a model that will not limit players. His and Circa Sports are two of the only books that will allow for high limits in the US regulated market. Pinnacle Sports does so in Ontario, Canada but is not yet available in the United States.
On the opposite side of the spectrum we have pretty much everyone else limiting players to as low as $5 a game.
Jeff Benson of Circa Sports poked some fun this week at DraftKings, one of the biggest culprits when it comes to limiting players for just happening to go on a winning streak.
Benson played off the Elon Musk vs. Mark Zuckerberg proposed cage fight. He challenged DraftKings founder and CEO Jason Robins to a fight. Circa will offer limits of $10,000 while DraftKings limits are no more than $43.17. The ref is listed as Darren Rovell. This is all a fantasy to be sure, except for the limits part.
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Adam Bjorn, CEO of Prime Sports software provider, tweeted out his commitment to serving the US sports bettor, both sharp and recreational.
"UK very different than US. The 'sharp' to ' think their sharp' to ' rec' player ratio is completely different in US. Horses to sport again different. Market efficiency very different as well. I have zero delusion here, as much as I stand by the goals and plans of this venture, we are up against it. As @plannatech, we control our destiny by owning and controlling the stack & risk management & other key components, so we can adjust when & where needed more fluidly. Prime Sports just need to keep finding players, no matter their skillset and then we cross our fingers, close our eyes and pray.. (don't let them know our secret sauce though).. There's been way too much foreplay for these past few years, I just want to strap in and take the ride."
DraftKings certainly has its fans. They rank No. 2 in overall market share in the US only after FanDuel while trying to ward off BetMGM, the latter of which came under fire in recent weeks for cancelling a $214,000 bet eight hours after being placed by a Special Ed teacher. They ultimately began the payout process over the weekend following a bombardment of bad press that ultimately went viral across the internet.
The Duke tweeted in response to the Benson-Robins cage fight promo:
"Draftkings goes into markets circa wouldn’t because it’s profitable enough for the company. They both make decisions to protect the bottom line. Go to the markets Draftkings does and keep the same limits."
Circa is limited to just four states at the moment: Nevada, Iowa, Colorado and Illinois. In addition to Ohio, Prime Sports expects approval in the New Jersey market. Prime Sports will be competing with nearly two dozen mobile apps in the Buckeye State.
Outside of perhaps Iowa prohibiting credit cards and college player props, it's not immediately evident why one market would be more advantageous to another that DraftKings operates in.
DraftKings is available in nearly every state where sports betting is regulated, including some where they are the only available option: Oregon and New Hampshire.
- Gilbert Horowitz, Gambling911.com
