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“DraftKings has defied the recent, dubious history of ownership shares of companies that went public via mergers with a Wall Street method called a SPAC – blank-check companies – already established that can put new business enterprises into them. Indeed, performances delivered by these types of firms — gaming and otherwise — that hit public markets following SPAC deals have been dismal – thus far.
https://www.casino.org/news/draftkings-one-of-best-performing-recent-spac-stocks
… the legalization of sports betting in 38 of 50 states (with Mobile Sport Wagering Apps) has certainly brought the daily betting lines out of the shadows. https://cronkitenews.azpbs.org/2024/08/14/arizona-legalized-sports-gambling-thrives-effects-students-athletes/ and has become
– an integral part of the modern live sports experience –
How Does it Work?
How Does Live In-Game Betting Work? – Forbes Bettinghttps://www.forbes.com/betting/guide/in-game/
… we are living in the days of instant online gaming and wagering on secure Mobile Apps on-the-fly or in comfy sportsbook lounges; throwing over/under and prop bets that allow gamblers to bet on individual players’ performances or that can single out specific players performances … to receive possibly even more vitriol!
From niche to norm those sports bet mobile Apps are on a relentless expansion; mobile sports betting is roaring – see the details here from Arizona State University (ASU) media relations; https://cronkitenews.azpbs.org/2024/05/15/arizona-sports-betting-not-slowing-down/
Over the last 4 years, 400+ companies went public through a SPAC,” according to FinChat. “The average return? -67%.”
Sport Wagering in Arizona -2024 update
Betting on the future: Legalized sports gambling thrives, but at what cost to students and athletes?
https://www.casino.org/news/draftkings-one-of-best-performing-recent-spac-stocks
What is a SPAC company ? – and why is it used for Corporate formation and Capital structure ?
Capital Markets 2024 midyear outlook.
Click here https://www.pwc.com/us/en/services/consulting/deals/us-capital-markets-watch.html for the 2024 SPAC update
https://www.pwc.com/us/en/services/consulting/deals/library/spac-boom.html
… ” companies choose to secure a type of market funding offering to pursue an initial public offering (IPO) to raise capital, provide shareholder liquidity, create brand awareness and obtain resources to further expand their business.” PWC
Furthermore – “considering mergers with special purpose acquisition companies (also known as SPACs), rather than a traditional IPO is coming back around again … By merging with a SPAC sponsor, firms can access liquidity via the public market.” Despite uncertainties amid a US economic volatility, SPACs have become a viable liquidity option.
The AI halo effect has also expanded investor interest to a wider range of tech and infrastructure companies.
Starting July 1, DraftKings and FanDuel — the two largest online sportsbook companies there — will be taxed at an average rate of 36.5%, up from 15%.
https://www.casino.org/news/draftkings-named-top-gaming-idea-by-morgan-stanley
https://news.spacconference.com/2024/06/14/draftkings-one-of-best-performing-despac-stocks
Sports betting has also become a growing source of tax revenue for many states, according to the United States Census Bureau. The legalization (and taxation) of weed and sports wagering is filling a ton of pot holes in the streets now! — with the possibility of adding Missouri, Oklahoma and Minnesota which have pending legislation. California and Texas continue to obstain from joing mobile aports bet apps btu when the tilt it’s going to be the new gold rush. With 15 teams from the four major professional sports leagues located in California and eight in Texas it will be a huge boost to gaming.
Arizona, which legalized sports betting Apps (and those sneaky Gaming Lounges) in April 2021 and launched in September 2021; whereby a software tech company partnered with the sports Team to get it right and have taken advantage of these pro sports collaborations. In 2024, The state’s three largest monthly handles (Arizona) were from Nov. 2023 to Jan. 2024, with totals hovering near $700 million a month, according to https://cronkitenews.azpbs.org/2024/05/15/arizona-sports-betting-not-slowing-down/ the Arizona Department of Gaming. The mobile sports book continues to be the majority of the handle; with limited licenses for race tracks and OTB additionally.
Legal sports betting arrived in Arizona in 2021, just three years after the U.S. Supreme Court struck down the Professional and Amateur Sports Protection Act.
Read the Legal details here – where the Sport Bet Law resides; legalizing retail and online sports betting : https://www.azleg.gov/legtext/55leg/1R/bills/HB2772P.pdf – 21 or older and physically present within state lines.
Four operators controlled more than 85% of the market’s handle in Arizona! See below for the new and approved online and retail operators.
Arizona (AZ) Sportsbooks: Best Sports Betting Sites & Apps – August 2024 – Forbes Betting
ESPN Bet – FanDuel Sportsbook – DraftKings – FanDuel – Caesars Entertainment – BetMGM Sportsbook – FanDuel Suns’ – Caesars Diamondback’s – DraftKings’ Sportsbook at TPC Scottsdale – Phoenix Open – Fanatics Sportsbook – Bet365 – Arizona Diamondbacks – Arizona Cardinals – Phoenix Suns – Tonto Apache Tribe – Ak-Chin Indian Community – BetRivers – Plannatech – San Carlos Apache Tribal Gaming Enterprise – Sporttrade – Quechan Indian Tribe of the Fort Yuma Indian Reservation
Additional Sport Bet -Sportbooks- licenses added to Arizona gaming!
Sporttrade, Plannatech Secure Arizona Sports Betting Licenses – Legal Sports Report
The two new operators – Plannatech and Sporttrade. are partnered with:
1) the San Carlos Apache Tribal Gaming Enterprise and
2) the Quechan Indian Tribe of the Fort Yuma Indian Reservation, respectively.
As a Plannatech is a B2B compay, the San Carlos Apache Tribe will likely rollout a sportsbook similar to Tohono O’odham Nation’s Desert Diamond Sports.
Reference: Legalsportsreport.com (aka LSR) and all content herein is intended for audiences 21+.
“Each sports betting license in Arizona incurs a $100,000 fee, plus a $750,000 initial license cost and $150,000 annual renewal charge.” Four operators controlled more than 85% of the market’s handle
DISCLAIMER
Call 1-800-GAMBLER or visit ncpgambling.org if you have a gambling problem.
Best Online Sportsbooks For U.S. Players – August 2024 – Forbes
And there is so much more! – every licensed sportsbook has odds on all major U.S. sports, markets and bet types vary by sportsbook; with plenty of plenty of odds boosts, a plethora of prop bets and futures markets and a strong rewards program.
Bettinghttps://www.forbes.com/betting/sports-betting/best-online-sportsbook/
Check out IN-Game LIVE BETS https://www.forbes.com/betting/guide/in-game/
Physical sportsbook locations:
DraftKings MMA / UFC fights – we got it. https://www.forbes.com/betting/mma/ufc/how-to-bet-on-ufc/
DFS – daily fantasy sports apps https://www.forbes.com/betting/sports-betting/best-dfs-daily-fantasy-sports-apps/
