The Week in Sports activities Betting Information: Tennessee Sportsbooks are beginning off sturdy

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The Week in Sports Betting News: Tennessee Sportsbooks are starting off strong

happy Monday, everyone, and welcome to the week why I can’t be like my children. It’s also the last week of 2020that is full of sports betting news for better or for worse.

Before we look at what happened in 2020, let’s take a look back at last week. The LSR podcast was a bit short in the week with shortened holidays but still tackled the top news including how the NFL and Nickelodeon launched a website for children with playful elements.

Be sure to follow @ LSPReport on Twitter for breaking news about the rest of the holiday season.

Top Sports Betting News: Tennessee’s Historic Debut

Online sports betting in Tennessee launched in November as the first pure mobile communications market in the USA. After the debut, don’t be surprised if more states emulate the model.

The four legal sports betting in Tennessee took more than $ 131 million under control in November, the highest ever for a US jurisdiction’s first month of operation.

The details have not been broken down by the operator, so we do not know who is the top operator. It’s probably a safe bet too FanDuel Sports Betting or DraftKings Sports Betting took first place with the other not far behind. BetMGM probably third with locals Action 24/7 accept the remaining bets.

Action 24/7 came out of the gates a little slower than the others, and its apps launched later in November. However, the momentum for December has been great so far, a spokesman told LSR:

“Our performance in December exceeded our expectations. In the last 30 days, our number of uses has increased by over 320% and our handle has increased by over 400%. Tennessee bettors love our cash deposit and withdrawal services. Action 24/7 is the only licensed sportsbook that doesn’t require players to have a bank account. Our cash services have increased 580% in the last 30 days. “

Would nationwide decriminalized weed help sports betting?

The growing adoption of marijuana in the United States could be good news for sports betting to come.

Decriminalizing marijuana at the federal level could make it easier for banks to accept these transactions. Banks have been cautious about opening accounts for companies selling marijuana because of the potential for federal crime.

Easing or lifting these restrictions could be a positive move for sports betting and potential intergovernmental treaties that amalgamate players from multiple jurisdictions.

President-elect Joe Biden He had previously told CDC Gaming that he did not support any additional unnecessary restrictions for the gaming industry.

Colorado continues to grow

The Colorado The sports betting market again reached new heights in November $ 231 million in bets.

Football was of course the top sport in November with more than $ 110 million Division between professional and NCAA games.

Table tennis remained the third most popular type of bet in the country $ 12.4 million under control.

The gross sales were $ 18.4 million for the month but more than $ 9 million was deducted for free play and the federal excise tax. That went $ 9 million in taxable income for barely $ 800,000 in tax receipts for the month.

BetMGM, Sixers partner

BetMGM, which recently launched its cell phone Sports betting in Pennsylvaniais now partner of Philadelphia 76ers.

The book is the team’s official betting partner and will have prominent signage during home games, including the BetMGM logo on the pole pads.

The agreement also includes the standard marketing benefits, including mentions on the team’s social networks. MGM Resorts also host activation events at the Borgata when it is safe.