The XFL plans to start its season in February, just after Super Bowl 57. But starting a season has never been the XFL’s problem. Staying solvent during a season, however, has been an unsurmountable challenge.

This will mark the third attempt for the professional spring football league. And its new owners — fronted by Dwayne “The Rock” Johnson — are hoping this time could be the charm.

XFL Host Cities Are Texas Heavy

In May, the XFL announced a multi-year broadcast contract with the Walt Disney Company and ESPN. But there will be few XFL teams located in the larger media markets.

When the XFL recently named its eight host cities, there were no teams from New York, New Jersey or California. Likewise, none of the teams are in storied sports cities like Philadelphia, Atlanta or Chicago. But the XFL has Texas covered. Three of the leagues eight teams will reside in the Lone Star State.

San Antonio, Houston and Arlington will all have XFL teams next season. Their Texas locale will be convenient, since the XFL be headquartered in Arlington. Also, since none of the teams have practice fields yet, Arlington is where all the teams will spend preseason. The remaining XFL host cities include, Orlando, St. Louis, Seattle, Washington D.C. and Las Vegas.

Likely XFL Prop Bets

They aren’t out there yet. But the prop bets associated with the success of the XFL are coming. Two we expect to see before long are:

Will the XFL fail before the start of the second season?
Will the USFL and XFL merge?

It’s hard to imagine two spring football leagues will be successful — especially since both leagues have failed multiple times. But this time could be different, for at least one of them.

The latest incarnations of the XFL and USFL have decent bankrolls behind them. The USFL has FOX Sports as a partner. Meanwhile, the XFL has Redbird Capital, the investment firm that owns the Boston Red Sox and Liverpool FC.

Attendance was a problem for the USFL, which played all of last year’s regular season’s games in Birmingham. The XFL is planning to play its regular season games at all its host cities, although a home stadium for Las Vegas has yet to be named. This could help the XFL’s in-person attendance, but it could also be a costly mistake.

In the USFL’s favor, it has players locked into two-year contracts, which may make it harder for the XFL to recruit for its 2023 season. Also, both sportsbooks and bettors have some familiarity with the USFL. Last spring, 15 states offered betting on the USFL. That was good for both television ratings and sportsbooks.

That being said, the XFL was enjoying surprisingly good ratings before COVID help push the league into bankruptcy. And if they play in 2023, sportsbooks and bettors will find them.

The post XFL and Its New Host Cities Hope the Third Time is the Charm appeared first on OnlineGambling.com | OG News.

Kansas Racing and Gaming Commission Director Todd Allen recently said that the commission hasn’t set a “go-live date” yet. He noted that “a lot of processes…have to take place still” in a recent interview with Covers. KRGC hasn’t approved regulations for sports betting, but Allen said temporary regulations could be approved by commissioners at the Aug. 12 meeting.

Kansas Sports Betting Processes Set by Law

The sports betting legislation, Senate Bill 84, set timelines for completion of certain processes. KRGC was supposed to set parameters for background checks by Aug. 1, with the commission beginning those investigations by Aug. 15. The Kansas Lottery is supposed to set out the licensing processes for online sportsbooks by Sept. 1 under the law.

When Gov. Laura Kelly signed the sports betting bill into law in May, observers hoped wagers would begin by football season. College games begin Labor Day weekend, while the NFL begins on Sept. 8. It now appears that won’t happen.

While Allen said he understands the disappointment if state agencies don’t complete the processes by NFL Week 1, he pointed out that “our job is to ensure that a safe and honest product is put in place for bettors.”

Cory Thone, spokesman for the Kansas Lottery, recently told WIBW that his agency is working on the issue and it’s still possible for an early September launch of live and online sports betting.

“[The process] is moving forward, but the biggest thing for us and everyone is we want the product to be functional, secure, and safe to use,” he said.

Industry Could Grow Large Quickly in State

The sports betting law sets a 10 percent tax on revenue, allowing sports books at four state-owned casinos. This includes Boot Hill Casino and Resort, Hollywood Casino at Kansas Speedway, Kansas Star Casino and Kansas Crossing Casino and Hotel. Those casinos can also partner with up to 50 retailers to offer betting kiosks in other business locations.

SB 84 would also authorize up to 12 online sportsbooks, permitting casinos to partner with up to three online operators.

Eight partnerships have already been announced, with heavy-hitters such as BetMGM, FanDuel, Caesars and DraftKings planning to offer online betting in Kansas.

The post Kansas Sports Betting Regulations Taking Time appeared first on OnlineGambling.com | OG News.

Sports franchise ownership is more popular and competitive than ever. Once a playground for the families of billionaire businessmen, sports teams are attracting a tsunami of celebrities, actors, and athletes.

Broncos owned by Walmart heirs, Rice and Hamilton

This is Hamilton’s first financial investment in a professional sports team. But it’s not for lack of trying. In April, he and Serena Williams were part of a group that failed to acquire Chelsea FC. Chelsea ended up selling for more than $5 billion to a group led by Todd Boehly, co-owner of the LA Dodgers.

Hamilton wasn’t part of the initial group bidding for the Broncos. In June, the winning bid actually did go to the family of a billionaire businessman. Robert Walton, heir to the Walmart fortune, spearheaded the winning $4.65 billion bid. Walton’s daughter and her husband were also part of the venture. But the ownership group has grown since then.

Earlier this month, Condoleezza Rice came on board as a minority owner. And now Hamilton, the seven-time world champion F1 driver, has taken a stake.

Supporting the @NFL and showing my passion for the @OfficialBrowns! Can't wait for the season to start! pic.twitter.com/95UenwwL

— Condoleezza Rice (@CondoleezzaRice) August 13, 2012

Maybe Condoleezza Rice isn’t the first person you think of when you think of the NFL. But the former US Secretary of State has been associated with some of the hottest NFL rumors. For years, she’s described the NFL Commissioner as her dream job. Meanwhile, in 2018, Condi was apparently on the short list to coach the Cleveland Browns.

Denver: Improving odds and good value

Hamilton and Rice might have some fun watching the Broncos this season. While most people assume the Kansas City Chiefs are a lock for the AFL West, the Denver Broncos could be a contender. After the Broncos picked up QB Russell Wilson earlier this year, the team’s odds significantly improved. In fact, it looks the Chiefs, the Broncos and the Chargers are in for a tight division race.

Meanwhile, the NFL is a hot commodity. If team valuations continue to grow as they have, Hamilton and Rice could make a sizable profit on their Broncos investment. Sportico estimates the value of the average NLF team increased by 17.9% between 2020 and 2021. Meanwhile, MLB franchises increased by 4.9% while NBA teams increased by 8.9% over the same time period.

The average value of an NFL teams is $4.14 billion, according to Sportico. The highest valued NFL franchise are the Dallas Cowboys, estimated at $7.64 billion. By comparison, the Broncos are valued at $4.65 billion, the team’s 2022 purchase price. That valuation put the Broncos in 10th place, giving them room to grow.

The post F1 Champion Lewis Hamilton Joins Denver Broncos Ownership Group appeared first on OnlineGambling.com | OG News.

Gov. Charlie Baker must sign the Massachusetts Sports Wagering Act within 10 days before it can become law, but he has already expressed support for the motion. Legislators in the joint Sports Betting Conference Committee voted for the bill 36-4.

Massachusetts Lawmakers Reach Sports Betting Deal

Speaker of the House Ron Mariano announced the deal via tweet early Monday, touting the “immense economic benefits of a legal sports betting industry” for the state. Barely more than a week earlier, Mariano told reporters the sides remained far apart on a deal.

One of the points of contention was betting on college sports, particularly those within the state. The final version of the bill will only permit betting on events involving in-state colleges when they are taking part in tournaments such as March Madness.

Sports governing bodies can also enter into commercial agreements with sportsbooks and share in the revenues without the need to obtain sports betting licenses.

The act will allow both live and online betting and tax sportsbooks at rate of 15 percent of net revenue from in-person wagers and 20 percent on online wagers.

Betting at Sports Venues Could Come in Future

Of the 30 states that have legalized sports betting, a handful have authorized wagering at sports betting kiosks at professional sports venues. While legislators considered that move in Massachusetts, they ultimately did not include that provision as part of the negotiated deal. The legislation will, however, include a plan to study possibly implementing betting kiosks at sports arenas, bars and restaurants in the future.

DraftKings, one of the national leaders in sports betting, is headquartered in Boston. CEO Jason Robins said in a statement he hopes the governor will sign the act quickly “to protect consumers and grow revenue in the Commonwealth.”

Analysts expect sports betting to generate $60 million or more in tax revenue in Massachusetts.

Jon Keller, a political analyst for WBZ-TV, said he heard that sports betting “could be up-and-running in time for the start of football season.”

The post Massachusetts Could See Sports Betting by Football Season appeared first on OnlineGambling.com | OG News.

Racing fans the world over wished Sebastian Vettel well on his final F1 season. Sports bettors, however, were less focused on Vettel’s announcement and more intrigued by a change to Vettel’s car. Time will only tell how the odds will change based on who does — and doesn’t — adopt the new rear wing.

Rear wing could be F1 game changer

It’s rare that a 7th place practice finish turns heads. But Aston Martin and Vettel rarely place better than the mid-teens. So, Vettel’s top-ten finish in Saturday’s FP2 was noteworthy — especially since his car was fitted with a rear wing.

Apparently, Aston Martin found a loophole in the specs cleared it with the FIA. And while some downplay its role in Vettel’s practice runs, any potential edge is an edge worth testing.

“Obviously, this is a track where you try to have and put all the downforce on the car that you can. Obviously, there’s a new rear wing, it’s not a secret. – Sebastian Vettel

Well, it’s not a secret now. In fact, other teams are already thinking about a rear wing addition. Ferrari’s racing director Laurent Mekies said, “If they have asked the FIA and the FIA says it’s legal, then everybody tries it. If it’s faster it will come to the cars.”

During a team press conference Red Bull’s Christian Horner said, “If it is according to the rules, it is a possible way to go. And who knows, maybe we’ll copy something off Aston Martin rather than the other way around for once.”

Aston Martin and Vettel leave unfinished business

Vettel’s pending retirement is not a complete surprise. The 35-year-old driver’s contract was up at the end of this season. And while Aston Martin very much wanted to extend its relationship with Vettel, both sides were realistic about what another season would yield.

289 Grand Prix starts. 53 wins. 122 podiums. 57 pole positions. Four #F1 World Championships.

There will only ever be one #SV5. 💚#ThankYouSeb pic.twitter.com/h6ZWEuAARr

— Aston Martin Aramco Cognizant F1 Team (@AstonMartinF1) July 28, 2022

When Aston Martin and Vettel joined forces in 2020, it seemed the perfect combination. Aston Martin had deep pockets and a desire to develop a competitive car. Vettel was a savvy veteran driver who was willing to help them on their journey.

Aston Martin’s performance, however, has been elusive and needs more time. And Vettel feels like time is of the essence in his life outside of racing, as the father of three explained on Instagram.

“Thank you for letting me share the track with you. I loved every bit of it.” – Sebastian Vettel

Vettel’s pending retirement is bittersweet. After all, racing was — and still is — his passion. It’s also hard for a world champion not to leave on top.  But even with unfinished business, both Aston Martin and Vettel value the experience they’ve shared.

The post Aston Martin Shakes Up F1 With Vettel Retirement and New Rear Wing appeared first on OnlineGambling.com | OG News.

How big? About 350 dealers set up at this year’s show, taking place from July 27-31 in 460,000 square feet of convention space. In addition, plenty of corporate entities are in attendance, including manufacturers such as Topps and Panini, grading companies like PSA and Beckett, distributors like GTS and Southern Hobby, and many more. Basically, anybody who is anybody in the card world comes to exhibit.

Plenty to See and Do

Long lines greeted convention attendees as things kicked off on Wednesday with a preview and Thursday with the first full day of activities. In addition to rows and rows of display cases filled with cards for sale, visitors could take part in box breaks, get promo cards and snag signatures from one of dozens of autograph guests from the world of sports.

While some attendees complained on sports card forums about overpriced dealers, overfilled parking garages and the general lack of deodorant, most expressed their excitement at the sheer number of cool collectibles to purchase or just view.

Valuable Sports Cards at the National

The common refrain about the National is that if you can’t find it there, you can’t find it anywhere. That may be truer this year than ever before. Goldin Auctions came with a graded T206 Honus Wagner and a 1997-98 Upper Deck Michael Jordan patch-auto card numbered to 23, and Heritage Auctions showed off its 1952 Topps Mickey Mantle graded 9.5 Mint by SGC. This is the finest known example of that classic card and is currently up for auction, with experts anticipating it will sell for more than $10 million, shattering the record for a single card. The bidding is already up over $6 million and will end on Aug. 27.

If you’re like me, you’re dreaming of the National from afar. Hopefully, we will all be lucky enough to attend the 2023 NSCC in Chicago.

The post National Sports Collectors Convention Takes Atlantic City by Storm appeared first on OnlineGambling.com | OG News.

Over the years, redevelopment of Willets Point, Citi Field’s neighborhood, has been elusive. Meanwhile, New York Mayor Eric Adams is the former chair of the NY State Senate’s Racing, Gaming and Wagering Committee. Cohen saw an opportunity.

Cohen lays the groundwork for Citi Field casino

Steve Cohen is a man who knows what he wants. And the billionaire hedge fund manager usually gets his way. At first, Cohen was rebuffed by the Wilpons when he had his eye on the Mets. Cohen, however, didn’t give up. It took months — and $2.4 billion. But Cohen bought the Mets. And now he has his sights on a Citi Field casino.

In the short run, Cohen may worry about where Juan Soto is going. But Cohen has long-term plans that extend just past Citi Field’s brick walls. Ever since January, when NY’s Governor released a budget plan, which included three new “downstate” casino licenses, Cohen has been busy.

Although it would take months for NY to approve a final budget, Cohen immediately went to work. In January, he invited the Mayor and other city bigwigs to review a redevelopment proposal for Willets Point. Since Cohen gave $1.5 million to a PAC to get Mayor Adams elected, City Hall’s attendance was expected. Cohen’s Willets Point proposal included new schools, affordable apartments — and a Citi Field casino.

A week later, Cohen sent Las Vegas Sands CEO Rob Goldstein to press the Mayor’s office to support a casino in Queens. But while the Sands was an early ally, it may not be the final winner of a Queen’s casino license.

Hard Rock could be the front runner

While the Sands did some of the early work on the Citi Field casino project, they aren’t the only ones in the running. According to the New York Post, Cohen has enlisted the investment bank Union Gaming in selecting a casino partner for the project. Meanwhile, sources claim Cohen is currently leaning toward the Hard Rock.

MGM Resorts already has a slots-only casino in Yonkers. It’s hoping to get one of NY’s three downstate licenses to operate a full-fledged casino. Likewise, Resorts World/Genting is looking to expand its slots parlor at Aqueduct in Queens. So, with potentially only one license in play, Cohen should find no shortage of willing partners.

Meanwhile, Cohen is keeping the skids greased. New Green Willets, LLC. already spent $99,000 this year lobbying City Hall. The firm is barely six months old and is associated with Cohen’s hedge fund Point72.

The post Mets Owner Steve Cohen Continues to Press for Citi Field Casino appeared first on OnlineGambling.com | OG News.

The NFL obviously thinks the future is in streaming. In 2020, the league partnered with Amazon to stream the “NFL Holiday Blitz.” Earlier this month, NFL Commissioner Roger Goodell announced that NFL’s Sunday Ticket would go to a streaming service.

NFL+ Streaming Service Pros and Cons

The first tier of NFL+ will be reasonably priced at $4.99 per month or $39.99 per year. Viewers will get to stream almost all the league’s games, including in-market games. NFL+ also offers a premier tier that provides commercial free replays. Its premier services costs $9.99 per months or $79.99 per year.

Current NFL Game Pass subscribers will be moved over to NFL+. Most people will like the change, since the premier tier is a little less pricey than Game Pass. Although there is one thing that NFL fans may not like.

Viewers won’t be able to access NFL+ on their televisions. At least initially, the NFL will only stream its new service to phones and tablets. And that’s a downer for fans that thrive on that big screen experience.

Waiting for the NFL’s Other Broadcast Shoe to Drop

Most people were expecting a streaming announcement from the NFL. Just not this particular announcement. The NFL will end its Sunday Ticket deal with its current provider, DirectTV, after the 2022-23 season.

DirectTV paid a hefty $1.5 billion a year for the privilege of broadcasting the NFL’s Sunday lineup. But the new provider is likely to pay significantly more. For one thing, there is a lot of competition for the pending contract. Amazon, Disney, and Apple have already submitted bids.

The new Sunday Ticket provider won’t be able to offer viewers a better deal than they have currently with DirecTV. And it’s not just because of the new contract’s price tag.

Neither NFL+ nor the new Sunday Ticket service can violate any of the terms and conditions the league has with its existing providers. Currently CBS, NBC, FOX, ESPN and Amazon pay billions per year for their NFL media rights. As a result, the new Sunday Ticket service won’t be allowed to price the service much below the $300/year that it is today.

The post The NFL Launches Its New Streaming Service Into a Crowded Field appeared first on OnlineGambling.com | OG News.

The reason for the switch is ongoing tunnel construction for both vehicles and pedestrians that provide access to the Belmont Park infield. NYRA said this is a major capital improvement that opens up the 45-acre infield to racing fans and the community. The tunnels also provide access for construction and commercial vehicles, which allow NYRA to fulfill its plans of rebuilding the main dirt track and the two turf courses.

The tunnels also give NYRA the option to put in a synthetic track, should it decide to do so.

“This investment in the future of Belmont Park will transform our racing operations and pave the way for a broader re-imaging of the facility,” NYRA President and CEO Dave O’Rourke said in a statement. “The shift to Aqueduct this fall will minimize the overall impact on the racing schedule, and ensure continuity for the Belmont Spring/Summer Meet and the Belmont Stakes.”

Belmont at the Big A give Aqueduct four more Grade 1s

For racing fans and horseplayers, this means the 28-day Belmont at the Big A fall meet begins Thursday, September 15 and runs through Sunday, October 30. Notably, it gives Aqueduct four Grade 1 races, along with four “Win and You’re In” Breeders’ Cup Challenge Series races. Belmont at the Big A features 23 graded stakes events, 41 stakes overall and a $9.9 million total stakes purses. The Belmont at the Big A meet runs Thursdays through Sundays.

Normally, Aqueduct gets one Grade 1 race during its Fall Meet: the early December Cigar Mile. It does not get a Grade 1 during its winter meet.

NYRA officials said the Belmont at the Big A meet comes with purse increases that boost open allowance races to the six-figure level. Other categories: claiming races, maiden races and New York-bred races will also see larger purses.

To further enhance participation at the Belmont at the Big A meet, NYRA will pay a $500 bonus to the owner and $500 to the trainer of any horse finishing outside the top three in their first fall start. The bonus kicks in only if that horse’s previous start came during the Saratoga summer meet.

Get your glimpse of Derby 2023 hopefuls here

The Belmont at the Big A Grade 1s start the weekend of Oct. 1-2, with the Woodward for 3-year-olds and up going 1 1/8 miles. The Champagne – one of the top juvenile races in the country and one providing a glimpse of Kentucky Derby hopefuls – runs that same day. It comes with a spot for the winner in the Breeders’ Cup Juvenile. Those are two of seven graded stakes that weekend.

The Oct. 2 card includes the Grade 1 Frizette, the 2-year-old filly counterpart to the Champagne. It comes with a berth in the Breeders’ Cup Juvenile Fillies to its winner.

The final Belmont at the Big A Grade 1 race is Saturday, October 8: the Joe Hirsch Turf Classic. That sends its 3-year-olds and up 1 ½ miles on the Aqueduct turf.

Belmont at the Big A Key Stakes Races

Other notable stakes races are the Grade 3 Jockey Club Derby (Sept. 17), the final race in NYRA’s Turf Triple, the Grade 2 Vosburgh (Oct. 8), a seven-furlong sprint that offers its winner a spot in the Breeders’ Cup Sprint, and the Grade 2 Kelso (Oct. 29), a one-turn mile that gives the top four finishes a free nomination and paid entry fees into the Cigar Mile.

You can see a complete list of the Belmont at the Big A stakes races here.

The post NYRA Moves Belmont Fall Meet to Aqueduct as ‘Belmont at the Big A’ appeared first on OnlineGambling.com | OG News.

Steve Kuhn founded the Major Pickleball League 2021. Kuhn owns Dreamland, a huge recreational entertainment center in Dripping Springs, Texas. Brees and Buss aren’t the only “big names” investing in the new pickleball league. Marc Lasry, co-owner of the Milwaukee Bucks, and former tennis pro James Blake are also early MLP stakeholders.

Was Brees’ pickleball Tweet a tell?

It may have started out as a joke. Initially, pickleball was a popular sport in retirement communities. So, when the Super Bowl MVP retired last year, Brees tweeted that he was undecided about his next chapter. But like all retires, he was considering pickleball.

Despite speculation from media about my future this fall, I’m currently undecided. I may work for NBC, I may play football again, I may focus on business and philanthropy, I may train for the pickleball tour, senior golf tour, coach my kids or all of the above. I’ll let you know

— Drew Brees (@drewbrees) May 15, 2022

What started out as a retirement pastime, however, is now the fastest-growing sport in the US. And what started out as a joke, culminated in Brees’ investment in the fledgling pickleball league.

“I am an avid pickleball player, fan and student of the game,” Brees said. “I look forward to helping raise awareness around the incredible players and competitions in MLP, helping grow the sport of pickleball and fostering overall fan engagement.”

For years, retired professional athletes lost money by investing in low-margin restaurant franchises, high-priced real estate, or speculative businesses. Six-time MLB All-Star Curt Shilling lost $50 million on a video gaming startup. Former NFL player and current QB coach Mark Brunell filed for bankruptcy protection after investing in two different real estate companies that went belly up. But lately, athletes are taking a smarter investment path.

Former/current pros who own sports franchises

The legendary fund manager Peter Lynch made a fortune with one simple strategy: invest in what you know. And that seems to be a lesson today’s professional athletes are learning. Granted, Drew Brees owning a pickleball team makes for a good headline. But it also makes sense, given the potential of sports franchise ownership.

For instance, when the NBA chooses Las Vegas for an expansion team, LeBron James wants in. But it won’t be James’ first sports franchise investment. James is already a minority owner in Fenway Sports, giving him a piece of the Boston Red Sox, Pittsburgh Penguins, and Liverpool FC.

NBA MVP Giannis Antetokounmpo is a minority owner of the Milwaukee Brewers. Kansas City Chiefs QB Patrick Mahomes has a stake in the Kansas City Royals. Meanwhile, Michael Jordan is the majority owner of the Charlotte Hornets. At the time, Jordan paid $175 million for the franchise, which is now worth more than $1.5 billion. Magic Johnson is part of the investment group that bought the LA Dodgers for roughly $2 billion back in 2012.

In 2009, tennis divas Serena and Venus Williams bought a stake in the Miami Dolphins. Serena has since invested in Angel City FC, Los Angeles’ new NWSL team. More than a dozen former women soccer players are also part owners of LA’s NWSL team, including household names like Abby Wambach and Mia Hamm. Meanwhile, Serena Williams isn’t the only tennis star to own a stake in a NWSL team. Naomi Osaka is a part owner of North Carolina Courage.

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