Intralot and Sportsbook Deals


The point spread and moneyline odds of a sportsbook are set to make sure that each side is rewarded equally. In addition, these odds reflect the probability of an event occurring. If a sportsbook price their odds according to exact probabilities, it will only allow bettors to win 50% of their wagers on moneylines and point-spreads. Regardless of how accurate the odds are, vig will still be around 4.5%.

The Intralot deal was based on an unreliable study by the Spectrum Gaming Group, which suggested that a sportsbook’s hold percentage should be around 20%. While that is absurd, it is possible that the Intralot app has a high vig, or worse, a terrible product. Meanwhile, FanDuel, DraftKings, and BetMGM have announced partnerships with tribal casinos. While most of the casinos have opted to brand themselves as a sportsbook, the new deal is a unique opportunity that will give each tribe the opportunity to offer its sports betting services to their patrons.

As of June 2018, Rhode Island has two land-based sportsbooks. The state legislature has approved a sports betting law. As of February 2019, the state’s sportsbook operators were losing about $2.4 million in Super Bowl LIII and another $900K in the first few months of operation, possibly due to poor risk management. The state lottery receives 51% of total sports wagering receipts, while supplier IGT keeps a quarter of the rest.

Aside from the two tribal casinos in the state, two other states have passed laws that legalize sports betting. In North Carolina, the state recently passed SB 154, allowing sports wagering at Harrah’s Cherokee and Valley River casinos. Interestingly, the bill only allows sports betting at these establishments, which means that mobile sports betting may not be available in the state. This could result in a minimal impact on the sportsbook industry.

USBookmaking, DraftKings, and FanDuel are among the new entrants. In early 2019, William Hill entered the sportsbook market after partnering with the Inn of the Mountain Gods Casino. Other new entrants may follow, but for now, the state’s sportsbook law remains the only legal option. In the near future, other online sportsbook operators will enter the Florida market. Meanwhile, the current online brands include BetRivers, FanDuel, PointsBet, and Barstool Sportsbook. Also, Caesars Sportsbook will soon open in a land-based casino.

While the number of states legalizing sports betting has increased, most are still far away from legalizing the activity. While some states are making progress, others are in the midst of disagreements with existing casino operators and tribal groups. The most recent showdown between card rooms and Indian tribes occurred in California, where legislators have seen a $500 million annual revenue potential. The proponents of the new legislation are optimistic that it will boost the economy.