It’s March, But NCAA, Unlike Professional Leagues, Is Yet To Budge On Legal Sports Betting

It is hard to believe that as recently as three years ago—prior to the Supreme Court’s May 2018 decision declaring that the Professional and Amateur Sports Protection Act (PASPA) was unconstitutional—Americans seeking to wager on the NCAA basketball tournament had to choose between either traveling to Nevada or wagering illegally, whether with an offshore provider…

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Soaring DraftKings Stock Makes CEO Jason Robins A Billionaire

The company’s forecast is rooted in the mainstream spread of legal gambling, which is currently being considered in California, Texas, Florida and New York, and their combined population of over 100 million people. “That’s probably like 60% of the sports betting market in the US,” says Jeff Ifrah, a founding partner at Ifrah LLC. “The…

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U.S. Appeals Court Rejects Trump-Era Wire Act Memo

In a potentially historic opinion, a federal appeals court on Wednesday rejected an appeal by the U.S. Department of Justice that posed a threat to the future expansion of the gambling industry. Two judges from the First U.S. Circuit Court of Appeals in Boston affirmed a June 3, 2019 decision by a New Hampshire federal…

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ErisX and RSBIX Introduce Sporting Event Based Futures Contracts

Kevin O’Neill calls in for hour one to talk government overreach before previewing #2 Notre Dame’s clash with #3 Clemson. Russell Rhoads calls in for hour two. Chief and Russell welcome Tom Chippas, CEO of ErisX, and Jeff Ifrah of Ifrah PLLC & RSBIX, to discuss their new Sporting Event based Futures Exchange. Coverage on the Stocks and Jocks Podcast…

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An Imperfect Storm Has Sports Betting Operators Watching The EA Class Action

Sports wagering operators—along with anyone interested in the status of mandatory consumer arbitration—have their eyes on a class action lawsuit filed by three video game players in November against Electronic Arts EA -0.2% in the United States District Court for the Northern District of California. Electronic Arts’ EA Sports division is the developer of popular sports video game…

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Maryland Legal Updates on Sports Betting

By a nearly 2:1 margin, Maryland voters overwhelmingly approved the expansion of sports betting ( titled “The Sports Betting Expansion Measure”) that was on the ballot for 2020. The approval has paved the way for the legalization of sports betting in Maryland at licensed facilities. Importantly, the ballot explicitly linked the new state revenues derived…

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