Betting and Buffoonery: July's Most Obscure Sports Betting News

In a world where everything is gamified, these quirky bits of sports betting news prove that the industry is nothing if not unpredictable. From Vermont’s visitor betting bonanza to Louisiana’s love affair with parlays, July 2024 was a month full of bizarre trends and eyebrow-raising stats. So, whether you’re a seasoned bettor or just here for the laughs, remember - sports betting is where serious money meets serious fun, and sometimes, the house doesn’t always win.

Vermont Visitors Bet Big, Vermonters Bet... Small?

Vermont's sports betting scene has revealed a curious trend—visitors to the Green Mountain State are out-betting the locals by nearly 50%! It seems that out-of-towners, averaging a hefty $30.67 per bet, are either feeling the need to prove something or simply embracing the "live free or die" spirit a little too enthusiastically. Meanwhile, Vermonters, perhaps more cautious with their cash, are wagering an average of just $21.25. The state’s Department of Liquor and Lottery is scratching its head, wondering if there’s something in the maple syrup keeping the locals a bit more reserved.

Vermont’s Unique Sports Betting Tax Revenue

While we're on the subject of Vermont, who knew the land of Ben & Jerry's, would turn into a sports betting hotspot? With those visitors flocking to the state for their sports betting fix, Vermont’s sports betting apps saw a revenue of $1.2 million in May. Despite its small size, Vermont collected over $382,000 in tax revenue, making it one of the most unexpectedly lucrative states in terms of betting. Who says small states can’t make big bucks?

Louisiana’s Parlay Party

Louisiana sports betting apps are giving a masterclass in how to turn multi-leg bets into multi-million dollar payouts. With parlays accounting for a whopping $21.3 million of May’s $31.2 million revenue, Louisiana bettors are either daring risk-takers or extremely optimistic gamblers. These combo parlay bets seem to be the state’s golden goose, contributing to the highest tax payments to date. Louisiana might just be the place where “go big or go home” has become the state motto.

ESPN Bet’s Promo Problem

ESPN Bet, formerly Barstool Sportsbook, is pulling back on its promo spending in Pennsylvania like a teenager tightening their belt after a summer splurge. After dropping $14.8 million in free play when it first launched, ESPN Bet’s May promo spend was just $1 million—the lowest since the rebrand. Perhaps they’re learning that less is more, or maybe they’re just running out of pocket money.

Michigan’s Market Shuffle

Michigan’s sports betting market saw some interesting moves as Fanatics Sportsbook, which took over PointsBet in February, kept its market share steady at around 4% for the third month in a row. It’s like watching the most polite game of musical chairs, with Fanatics quietly holding its seat while the giants like FanDuel and DraftKingskeep dancing around them.

Stanley Cup Bets with a Feminine Touch

BetMGM had a pleasant surprise during the 2024 Stanley Cup Final as female bettors made their presence known. The sportsbook reported a 24% increase in bets from women, who may have been drawn in by the excitement of seeing a Canadian team in the finals. With Edmonton Oilers making a dramatic comeback, it was a win-win for everyone involved—especially for those who backed the underdog.

Nevada’s Shrinking Sportsbook Handle

Nevada, the granddaddy of sports betting, is seeing a curious trend - sports betting handle are dipping for the seventh time in nine months. It’s like watching the once-mighty King of the Hill gradually lose its footing as other states climb up the sports betting ladder. Could it be that Nevada’s sportsbooks are just too busy counting chips to care, or are they finally feeling the heat from the competition?

FanDuel and DraftKings: Kansas' Betting Overlords

Kansas bettors might as well rename their state to “FanDuel-and-DraftKings-istan” because these two giants are absolutely dominating the market. In May, they accounted for a staggering 98% of all online betting revenue. It’s like a two-party system, but with way more excitement and a lot less political bickering.

Louisiana’s Tax Windfall

The sports betting apps in Louisiana must be doing something right, as they handed over a record $5.5 million in taxes to the state in May. The combination of high loss rates and fewer promotional deductions seems to be the secret sauce. With $238.3 million in online bets, it’s clear that Louisiana bettors are willing to lay down some serious cash—probably fueled by all those delicious beignets and po’ boys.

Micro-Betting Mania

Micro-betting is taking off, and Simplebet’s NBA-focused product is leading the charge with a 75% growth in handle and number of bets. It seems that fans just can’t get enough of betting on every tiny aspect of a game - from the number of three-pointers in a quarter to the chances of a player sneezing on the bench. With $325 million bet across 13 million wagers, Simplebet is proving that no detail is too small to bet on.