Daily Archives: November 8, 2024

State of the Union: Tyson-Paul betting in Massachusetts, more election results

Welcome to iGB's State of the Union, a look at the biggest North American sports betting stories we've covered over the week and briefs on others we found interesting.

Mass regulators will allow bets on Tyson-Paul

On Thursday (7 November) Massachusetts regulators decided not to ban betting on the Jake Paul-Mike Tyson exhibition boxing match set for 15 November. Citing safety and rules changes as positives, the commissioners unanimously believe the fight falls within the bounds of allowed markets in the state bet menu.

The Tyson-Paul bout, which will air on Netflix, will feature two-minute rounds rather than the standard three minutes. Boxers will also wear 14-ounce gloves as opposed to the usual 10-ounce gloves.

“The rules changes are trending toward safety, which was very influential for me,” said commissioner Nakisha Skinner. Her thoughts echoed those of her fellow commissioners.

Commissioner Eileen O’Brien did say that the exhibition raises another question for her…

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New York mobile sports betting handle hits record $2.32 billion in October

Consumers in New York spent a record $2.32 billion (£1.79 billion/€2.15 billion) in October, the most ever wagered on sports online in a single month in the US, although a weaker hold meant revenue declined.

Data from the New York Gaming Commission shows a 14.9% year-on-year increase in player spending. The October figure also surpasses September by 15.4% and clears the existing record of $2.12 billion, set in November last year, by 9.4%.

However, despite record handle, monthly revenue came in around $35.0 million under New York’s all-time high. For October, revenue from online sports betting was €176.3 million, up 5.7% from last year but 14.5% behind September. This missed the state’s record – $211.7 million in January 2024 – by 16.7%.

In terms of hold across all licensees, this stood at 7.60% for October. This marks a decline on September’s 9.9% hold and comes as DraftKings downgrades its full-year earnings forecast in the wake of “customer-friendly sport outcomes” early in Q4.

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