Weekly News Roundup 3-31-17
Raiders Move to Las Vegas
May 2020 Safest Betting Sites
The NFL’s Oakland Raiders announced Monday that they will be moving to Las Vegas. The move won’t happen immediately, creating an awkward situation for the team for at least the next two seasons. The Raiders will wait until their new stadium is built before moving to Vegas.
The move isn’t a shocker by any means, it has been in the works for a while, but does signal that the NFL is at least not concerned about their sport being corrupted in the gambling and sports betting capital of America.
That’s not to say that the league has changed their tune when it comes to legalized sports betting. Roger Goodell remains opposed to the spread of sports betting due worries about betting impacting the integrity of the game, but he did say that the regulated sports betting environment in Nevada could be “beneficial” for the Raiders when they move to Las Vegas.
Despite the league’s outward stance on sports betting, the move has to be seen as a positive for those seeking the legalization of sports betting throughout the country and the possible repeal of PAPSA.
DFS Loses Sponsorship Deals
Due to a year of scandal for the daily fantasy sports industry and concerns about top players winning the vast majority of money – many states opted to ban DFS in their states. However, several states have passed bills regulating and legalizing DFS, and several more are in state legislatures currently.
DraftKings and FanDuel announced a Merger earlier this year, but there are issues with that deal being approved due to antitrust concerns. DK also raised an additional $100 million in capital earlier this month. FanDuel is expected to go after additional funding as well. Both sites will have a hard time paying their bills if the merger ends up being blocked.
Sponsorship deals with the NFL have also been lost. Last season, 29 out of 32 franchises had marketing deals with either DraftKings and FanDuel. Since last year, six teams have dropped their deals with the DFS sites. These teams include the Miami Dolphins, Atlanta Falcons, Oakland Raiders, Pittsburgh Steelers, and Tennessee Titans.
FanDuel and DraftKings plan to merge into one company later this year if the Federal Trade Commission approves their merger.