Welcome back, America.
Shake off that likely infuriating Kentucky Derby (for a majority of you) and start fresh. Though we are curious who is more incensed: Tiz the Law backers this year or Maximum Security bettors a year ago.
In any case, as always, to keep up on the day-to-day happenings across the country, be sure to visit PlayUSA or any of its sister sites. Of course, we also have our PlayUSA YouTube channel for those who prefer visuals.
Now, on to the Rewind:
Kentucky Derby betting dropped to historic low
There was certainly no shortage of on-the-track action at the 146th Kentucky Derby over the weekend. With Authentic picking up the upset of heavy favorite Tiz the Law, trainer Bob Baffert notched his sixth victory at Churchill Downs to tie the derby record.
Yet betting action on the race was historically low.
Churchill Downs reported that the public combined for $79.4 million in wagers on the Kentucky Derby, a figure that reflects a massive 52% dropoff from 2019’s record $165.5 million.
Certainly, some of the decline stems from no fans at the race, which was held outside its regular May slot for the first time since 1945. Over the previous five years, an average of more than $22 million occurred at the track. Officials with Churchill Downs also attributed the low number to a not-as-favorable favorite (Tiz the Law at 4-5 odds) and fewer horses (15 starters, the smallest field since 1998).
For what it’s worth, as reported by ESPN, just 8% of wagers backed Authentic, which went off at 8-1 odds, while Tiz the Law accounted for 48% of wagers to win the race.
DraftKings ready to play ball at Wrigley Field
It’s difficult to think Wrigley Field needed anything to make going to a Chicago Cubs game more exciting. Well, the historic venue proved us wrong again.
Per Illinois state law, sports teams can integrate brick-and-mortar sports betting and online wagering within five blocks of their venues under a $10 million master license. Stadium capacity must exceed 17,000 and the primary use cannot be in a collegiate capacity. Obviously Wrigley Field meets those criteria.
Of course, regulatory processes and construction delays the opening of a Wrigley retail sportsbook. But, it’s coming.
DraftKings continues to capitalize in the Land of Lincoln. After partnering with Casino Queen and launching its mobile sportsbook following a rebranding of the property, DraftKings — and the other two online sportsbooks, BetRivers and FanDuel Sportsbook, live in Illinois — benefits from a decision from Gov. JB Pritzker to suspend the requirement for in-person signups until at least Sept. 19.
By the way, the Wrigley news is just one of two noteworthy and Chicago-based items for DraftKings. Michael Jordan just joined the company in an advisory role.
Louisiana DFS launch hits speed bump
According to a timeline provided by Rep. John Stefanski, the newly legal industry in the Pelican State might not launch until November or December.
Initially, the state expected to publish DFS rules by September. But Stefanski indicated they could be completed by August “if all runs smoothly.”
But, so many things could occur to push the DFS launch. Public comments are due by Sept. 10, and the Legislative Oversight Committee has 30 days to review and hold hearings on the rules. Naturally, this step in the process could cause more delays.
Next, gaming regulators in the state would need to adopt and then publish final rules in the State Register. Only then could DFS contests become available in Louisiana.
Fantasy fans have waited more than two years to enjoy legal play in Louisiana. The majority of parishes voted to legalize the industry in 2018, but it wasn’t until this year that it officially cleared the hurdle as the state requires a separate taxation bill.
As close as legalized DFS seems, the state will still need to wait just a tad longer.