THIS WEEK IN SPORTS BETTING NEWS – NOVEMBER 19TH, 2021

Chris Altman Sports Betting Expert

4 minute read

MADISON SQUARE GARDEN AND BETMGM PARTNERSHIP

BetMGM has announced a strategic partnership with MSG Corp. and MSG Entertainment Corp., which will bring the betting company into the fold with well-known NY sports teams like the Knicks and the Rangers.

Says Executive VP of MSG, Ron Skotarczak:

“We’re excited to be partnering with BetMGM to bring them an unparalleled platform in sports and entertainment. MSG Sports and MSG Entertainment are made up of world-renowned brands that set industry standards for excellence, exposure and engagement – making us ideal partners to help drive sports betting continued growth.”

The deal will involve BetMGM signage and broadcast participation on MGS media channels, including televised sports on MSG Networks. Being that this is the first official partnership between a betting company and a sporting venue or team in NY State, we’re expecting BetMGM to do some solid business once mobile sports betting goes online in NY in 2022.

MISSISSIPPI SPORTS BETTING ON MOBILE TO BE LEGALIZED?

After attempting to legalize mobile sports betting for the last three years, Mississippi legislators might finally be getting some headway.

One of the issues with legalizing Mississippi online casinos and sportsbooks was protecting the revenues of the existing retail casino properties in the state. Luckily, though, most states with legal sports betting packages tend to require partnerships with these existing casino properties.

Retail sports betting is live in Mississippi with:

• DraftKings
• BetMGM
• Caesars
• FanDuel

Legislators hope to legalize mobile sports betting with a bill ready by January 1st, 2022. After that, it is up to lawmakers to agree on rulesets and establish a licensing process. Retail sportsbooks in the state can offer their mobile apps for use on-site at the casino, so making the jump to a statewide mobile program in 2022 shouldn’t be much of a stretch.

BRITISH COLUMBIA POSTS BIG SPORTS BETTING GAINS

Single-event wagering is the hallmark of recent successes across Canada, where sports betting is more available than ever before. Online bettors can now find legal bets for more than just parlays, which up until summer 2021 were the only types of sports bets available for legal, online play.

British Columbia has reaped some of those successes, as over $25 million has been wagered online with PlayNow, the BCLC (British Columbia Lottery Comission)’s proprietary betting platform. It’s expected that there is over $15 billion in betting handle up for grabs in Canada, so opening up legal sports betting to single-event wagers is sure to be a moneymaker for provincial coffers.

Year over year, NFL betting saw a 97% increase over 2020, which is a figure that can surely be attributed to Canadians’ new ability to place moneyline wagers on single events. NHL betting saw a boost of 71% in betting handle during the first nineteen days of the season.

As the market continues to mature in the US’ neighbor to the north, it’s expected that more and more provinces will market and promote their legal sports betting platforms. British Columbia is on the move, but the market to really keep an eye on will be Ontario, as they’re expected to go live with a more competitive market with room for more than one provider.

ONTARIO EXPANDS ITS LIST OF LEGAL OPERATORS

Ontario, along with the rest of the Canadian landscape, has access to single-event wagers as of August 2021. Unlike other provinces, however, Ontario has the only “competitive” market in the country: that is, there is room for more than one operator run by that province’s local lottery commission.

Thus far, Ontario has only had PROLINE+ offering legal single-event wagers since the outset of the newly-minted law allowing for single bets. Now, there's a clear indication that more operators will jump into the market.

Take a look at FanDuel, who recently hired former Rogers exec Dale Hooper to head up their operations in Canada. Having that Canada-centric experience at the helm of FanDuel’s Canadian team should serve to bring the brand into the forefront of sports betting in the country.

The upper limit of the revenue projections for Ontario’s sports betting market is pushing $1 billion, and it’s no surprise that operators are clamoring for their place in the largest province in Canada by population. FanDuel is not going to be the last operator to make a big push in the country, as there’s already a firm presence for William Hill (Caesars in the US) in addition to a number of operators with international experience.

Written by Chris Altman, our US sports betting industry expert. You can learn more about our author's expertise here.

Chris Altman

Chris Altman is a sports betting writer and content expert with almost a decade of experience. He's covered everything, but his current focus is on reviewing sportsbooks and online casinos and keeping tabs on sports betting legislation. Chris has been with VegasInsider since 2019 and has freelanced in the sports betting content industry for years. More from Chris Altman