Down Goes New Hampshire
New Hampshire is the latest state to take online gambling legalization off the table in 2024.
The Bulletin Board
NEWS: Another one bites the dust. New Hampshire’s chances to legalize online casino gambling in 2024 take a major hit.
VIEWS: Legal, regulated online gambling markets have their problems, but despite their flaws, they are superior to the black market.
NEWS: Is ESPN Bet’s early success due to promo spending?
AROUND the WATERCOOLER: North Carolina casino is a contrarian in the smoking debate.
STRAY THOUGHTS: See you all in the New Year.
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New Hampshire Punts Online Gambling to 2025
New Hampshire State Sen. Timothy Lang’s legislation that would legalize online casino gambling is all but dead in 2024.
Per Bonus.com, the Office of Legislative Services has removed LSR2957 from consideration in 2024, as the legislation doesn’t have the requisite number of votes to carry it over into the 2024 session.
Citing the New Hampshire Almanac, Bonus.com reports, “Any bill killed in the first-year session is not permitted to be admitted into the second-year session, without the approval of a majority of the Rules Committee or a two-thirds vote of the House.”
Lang told Bonus.com that he will move on from online casinos in 2024 and focus on ADW - New Hampshire currently allows in-person horse racing bets.
New Hampshire has been a candidate to legalize online casinos for a couple of years, but recent developments have tainted any conversation about expanded gambling.
As previously reported in STTP, New Hampshire state Rep. Laurie Sanborn’s husband is under investigation for misappropriating COVID relief funds. Andy Sanborn owns the Concord Casino and is denying the allegations.
“Rep. Sanborn chairs the House Ways and Means Committee, which is where an online casino legalization bill died last year after the Senate passed it. The main opposition to online casinos came from the state’s charity casinos - Sanborn’s husband owns the casino in Concord and was preliminary approved to open another before the criminal investigation was announced.”
The Case for Legal, Regulated Markets
On Tuesday, I looked at new complications that have arisen in Alabama as the state considers expanding gambling.
Ronnie Jones, a former Louisiana regulator and now regulatory consultant, called it a case of “Kicking the political can down the road (for all the wrong reasons)” on LinkedIn - I recommend reading Jones’s full post and following him for his insights.
”Just when I think the stars are aligning for Alabama’s legislators to add to the state’s gambling options a new wrinkle emerges. And this time it doesn’t appear the existing tribal casinos are the anti-expansionists. Josh Moon, in an opinion piece posted to the Alabama Political Reporter, pulls back the curtain on legislative reticence to permit voters to weigh in on authorizing casinos, sports betting, or a state lottery. And the legislative reasoning is mind-numbing.”
Jones highlights what should be the critical argument and why I’ve advocated for regulated online gambling for nearly 20 years:
“… Alabamans are gambling each and every day… and those bets were accomplished within the state’s boundaries by accessing illegal offshore platforms (or for the technology-challenged, at the local barber shop or tavern).
“A player has no protection from unscrupulous operators. Who does one complain to if an offshore operator stiffs a player on a bet? Electronic devices are essentially unmonitored and aren’t subject to inspection/certification. It would appear to be easier for a 17-year-old to play a gray market device than to buy a pack of cigarettes. What protections are in place for those vulnerable to problem gambling?”
To add to Jones’s comments, there are also insider cheating possibilities, which we’ve experienced multiple times in the poker world. Essentially, the legal market is far from perfect, but it’s better than the alternative. And we can work to improve the legal market’s flaws.
Don’t let perfect be the enemy of good.
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Is Promo Spend Behind ESPN Bet’s Market Share?
ESPN Bet is grabbing market share.
That said, the new kid in town is also spending heavily for its piece of the pie.
In Michigan, where it finished fourth in handle, ESPN Bet handed out more than twice as much promotional money as DraftKings and FanDuel and more than six times what BetMGM spent.
In Pennsylvania, ESPN Bet generated $65.1 million in handle (good for third place) in November and handed out $14.8 million in promotional credits. DraftKings gave away $6 million in promotional dollars in November, while FanDuel was closer to ESPN Bet’s number, at over $10 million in promotional spending.
As Adam Bjorn, the COO of Plannatech (Prime Sports), said on LinkedIn, while the ESPN app downloads and early handle numbers are impressive, we may need to pump the brakes.
“While their initial download numbers and volume were impressive, it's important to consider the bigger picture. Barstool Sports had a similar start with Penn Entertainment, and these numbers are inflated through free money and promos. It's still early in their rebranding journey, and despite the hype, ESPN Bet won't be hitting their market share goal or making headway into the duopoly in my opinion.”
Of course, the only way to grab considerable market share in the US market is to spend wildly.
Around the Watercooler
Social media conversations, rumors, and gossip.
While the rest of the gambling universe is considering prohibiting smoking, North Carolina’s Harrah’s Cherokee Casino is opening a smoking section, per John Mehaffey:
Stray Thoughts
As we head into 2024, I want to reiterate a point I often make: progress is progress, no matter how small. And the best way to make progress is consistent practice over time.