In New York, the co-owner of the Philadelphia 76ers is applying for a gambling license. If approved, the new sportsbook could become the largest in the nation. Michael Rubin is one of the most vocal owners of the 76ers. His company, Fanatics, is the largest sporting goods supplier in the country. It also runs most professional league stores and provides branded jerseys to NBA and NHL teams. It’s unclear what kind of licensing he needs to get this business up and running.
There are several states that are considering legislation that would allow sportsbooks. In Kansas, a bill has been introduced, but it has yet to be passed. In Kentucky, a similar bill has been on the table since last year, but conservative groups have hindered it from passing. In Maine, a bill that would have been more consumer-friendly failed to pass. In Massachusetts, a bill is pending. However, the state’s anti-gambling legislature has been stalling action, which will only further restrict the ability of a sportsbook in the state.
In New Jersey, sports wagering became legal in June 2019. The massive capital bill SB 690 included framework for legalized sports betting in the state. The bill is expected to cost about $20 million to implement. The state has already approved several major sportsbooks, including DraftKings and FanDuel. The sportsbooks that opened in June may be more competitive than those that launched in the past. It is unclear if Betfair will be based in the state or will be online only.