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Maryland Bars Want Sports Betting Licenses Too

(March 26, 2021 12:04 am) - After Maryland voters unanimously approved legalized sports betting in the state, the Marlyand House of Delegates approved a bill sponsored by Speaker Adrienne A. Jones with a combination of several in-person betting licenses to be awarded to specific businesses, 10 in-person betting licenses open for applications and 15 online and mobile betting licenses that would be open for applications.

But it's not just your usual suspects like MGM, FanDuel and Draftkings desiring a license in the state.

The Laurel Park thoroughbred racetrack, Pimlico Race Course in Baltimore, Orioles’, Ravens’ and Washington Football Team’s stadiums on game days are venues already guaranteed licenses.

And then there are establishments the likes of the Rod ‘N’ Reel resort in Chesapeake Beach, Bingo World in Brooklyn Park and Long Shot’s Restaurant & Bar in Frederick, the later of which already offers off track betting.

Bruce Bereano, lobbyist for Long Shots, told the Baltimore Sun that all off-track betting sites should be able to have sports betting, too. “They already are venues where wagering and betting is going on, and they should therefore be included for the maximization for sports betting in the state,” he said.

The House has boosted the number of licenses that can be offered.  It remains to be seen whether the Senate will do so.

Lawmakers are facing a deadline of April 12.

Loyola-Chicago Win Over Illinois Massive for Books

(March 24, 2021 3:37 pm) - The biggest win of the opening days for the books came on Loyola Chicago's outright upset over Illinois, reports David Purdum of ESPN.

John Murray, executive director of the popular Westgate SuperBook, told ESPN that the winnings from this matchup were likely multiple six figures, or equivalent to a typical primetime NFL game.

Sportsbooks PointsBet, BetMGM and William Hill all confirmed this was the biggest win for the house during the first two rounds.

BetMGM took more than twice as many bets on Illinois as it did on any other team on Sunday, Purdum revealed.

"We won half as much on that game alone as we did the first two days of the whole tournament," Director of Trading at Sportsbooks for MGM, Jeff Stoneback said. "It was big."

Wall Street's Hot New Bet: Betting on Sports

(March 23, 2021 9:19 pm ) - Casino companies Penn National Gaming (PENN), which has a big stake in Dave Portnoy's Bartsool Sports, and Caesars Entertainment (CZR), which is in the process of buying UK-based sports betting giant William Hill, entered the S&P 500 Monday. They join rival S&P 500 members MGM Resorts (MGM), Wynn Resorts (WYNN) and Las Vegas Sands (LVS) (soon to be just Sands).

In a sign of how the US economy is changing, one of the firms getting booted from the S&P 500 to make room for the casino companies is the once-mighty Xerox (XRX).

Traders are betting on a major travel rebound as more states and cities start to reopen as more vaccinations take place and hopes for nations, including the USA, to reach herd immunity for Covid-19.

Shares of Penn National, which in addition to its 36% stake in Bartsool owns nearly four dozen casinos and racetracks in Louisiana, Mississippi, Missouri, Nevada and several other states, have skyrocketed more than 1,300% in just the past year.

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- Aaron Horowitz,