The IRS said it intends to impose an excise tax on DFS contest entries, but legal experts believe the industry can delay the implementation due to ambiguities in the law. Confusion About Whether DFS Contests are Wagers An IRS memo said that DFS companies must pay a 0.25 federal excise […]
A bill that would legalize single-game sports betting in Canada stalled last week as the Canadian Parliament entered a recess that will halt all progress on the legislation. Parliament prorogued – or discontinued its session – meaning that lawmakers will have to reintroduce any bills they were discussing when the […]
A special gift to season ticket holders for the NFL’s Raiders inaugural season in Las Vegas has become a hot item on the internet. Las Vegas Raiders Go Big with Season Ticket Holder Gift The season ticket holder gift, mailed to patrons this month, features a replica of Las Vegas’ […]
After a three-month delay, the Indy 500 will finally take place on Sunday at the famed Indianapolis Motor Speedway. There will be no fans because of the COVID-19 pandemic, but little else will be different at the Brickyard. Fans haven’t been allowed at any of the previous six IndyCar races, […]
Churchill Downs officials announced on Friday that the 146th Kentucky Derby will run without fans, doubling-back on its fervent desire to run America’s most iconic horse race with a semblance of Derby atmosphere. The decision came in the wake of a spike in COVID-19 cases in Kentucky. The state reported […]
Magnus Carlsen found himself down a game in the blitz tiebreaker against Hikaru Nakamura on Thursday. But the World Champion won on demand, then scored the necessary draw with Black in an Armageddon finale to secure victory in the Magnus Carlsen Chess Tour Final. Carlsen took the seventh set to […]
A decision by the IRS to require daily fantasy sports operators to pay a federal excise tax on DFS contests is spurring debate over the future of the industry. DFS Subject to Same Excise Tax as Sports Bets An IRS memo says the DFS industry will face the same 0.25 […]
Despite reducing race days for the Belmont Park fall meet and the Aqueduct winter meet, the New York Racing Association told New York state regulators it can financially operate under current conditions into the first half of 2021. The concerns about NYRA’s financial viability came because of the coronavirus pandemic, […]
The FedEx playoffs start this week at the Northern Trust at TPC Boston, a par 71 course playing at 7,342 yards. Patrick Reed won last year at 16 under (on a different course), with the cut at a minus one. The top 70 make it to the BMW Championship next […]
One benefit of no long betting lines at Churchill Downs for this year’s Kentucky Derby is the new 10-cent minimum superfecta wager track officials instituted for this year’s Derby. Previous, the minimum superfecta wager – one requiring bettors to pick the first four horses in order – was $1. When […]
Franklin D. Roosevelt famously said that “there’s nothing to fear but fear itself.” No one mentioned that to He Knows No Fear, who lived up to his name on Thursday afternoon, becoming the biggest-priced winner in British or Irish racing history when the 300/1 shot captured a maiden race at […]
DraftKings became the first operator to offer brick-and-mortar sports betting in the state of New Hampshire this week, opening a sportsbook at The Brook in Seabrook. The opening comes eight months after DraftKings and the New Hampshire Lottery launched the state’s first mobile sports betting offering in December 2019. The […]
Nearly four months from its initial announcement to withhold Saudi Cup purse money, the Jockey Club of Saudi Arabia announced it will award prize money to the horses finishing second through 10th. That conspicuously excludes race winner Maximum Security. The JCSA said it will withhold prize money from Maximum Security […]
One of the tweets on President Donald Trump’s Twitter feed is a cover of Time magazine with various Trump campaign signs going off into the distant future. “Trump 2024,†followed by “Trump 2028,†“Trump 2032,†“Trump 2036,†and so on. The October 22, 2018, cover story in Time centered on […]
The Equibase Economic Indicators in Thoroughbred Racing report for July revealed another year-over-year increase in wagering, with horseplayers putting down more than $1 billion during the month. That reflects a 16.6% increase over July 2019’s numbers. This increase happened because more tracks opened up during July, most notably Saratoga and […]
Sportsbook deals continue to heat up, even as major league sports continue to struggle. In a new multi-year deal, International Gaming Technologies will provide the technology for all of FanDuel’s retail sportsbooks. Meanwhile, FanDuel rival, DraftKings, sees opportunity in the Premier Lacrosse League. Restarting sports in 2020 has been challenging, […]
The NBA continued its push to embrace betting as a tool for fan engagement on Monday, announcing that it will begin airing alternate telecasts known as NBABet Stream with a sports betting focus for some games on its media outlets. Bettors can see these broadcasts on NBA League Pass, NBA […]
Nevada sportsbooks proved that the house doesn’t always win, taking a monthly loss in June for the first time since 2013. Bettors came out ahead by about $483,000 for the month, according to information released by the Nevada Gaming Control Board. Bettors Cash in on Overdue Football Tickets That marks […]
The PGA Tour further embraced legalized sports betting on Tuesday, announcing that DraftKings will become its first official betting operator. The move strengthens the ties between the PGA Tour and DraftKings, which became the tour’s first official fantasy game as of July 2019. Golf Betting Sets Records During COVID-19 Pandemic […]
Massachusetts lawmakers are attempting to fast-track a jobs bill that includes nearly 500 amendments, including two that would legalize both in-person and mobile sports betting in the state. The goal is to include sports betting with a wide range of other economic development proposals, a move that could attract votes […]
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