The Massachusetts Gaming Commission (MGC) had planned to meet on Wednesday for an agenda-setting session, where it was expected to set an official date for a second discussion on sports betting limits. However, on Tuesday, the MGC announced the cancellation of the meeting.
The date for the highly anticipated second discussion on sports betting limits remains undecided. However, it could be established during the MGC’s public meeting on August 15 or the agenda-setting meeting on August 21. In May, the MGC hosted a roundtable discussion on sports betting limits, but the absence of most well-known sports betting operators angered commissioners.
Bally Bet was the sole operator to attend the initial meeting.
Other prominent betting apps, such as DraftKings and FanDuel, have indicated their intention to participate in the second discussion. Despite this, some commissioners remain skeptical about whether these operators will share sufficient information publicly to ensure a productive conversation.
The commissioners also plan to include the perspectives of bettors in the discussion, similar to the first meeting. Some prominent bettors have expressed frustration with major betting apps for limiting their wagers with minimal to no explanation regarding the reasons behind these limits.
The MGC hopes that this discussion will enhance transparency around the practice of limiting sports bettors. In a recent meeting, the commission also suggested the possibility of implementing regulations related to this practice.
By addressing these issues, the MGC aims to foster a more open and fair sports betting environment in Massachusetts.
PrizePicks has announced the appointment of Mike Ybarra, former President of Blizzard Entertainment, as its new Chief Executive Officer. Ybarra steps into the role following Adam Wexler, the Co-Founder and CEO, who will now serve as Executive Chairman of the Board and an advisor to Mike. Ybarra will also join the Board of Directors.
With over 25 years of leadership experience in the technology and entertainment industries, including his tenure as President at Blizzard Entertainment and nearly two decades at Microsoft in development, product management, and leadership roles, Ybarra is well-positioned to lead PrizePicks. His expertise in managing and growing popular gaming products and services uniquely qualifies him to guide the company at this pivotal time.
Thanks to Adam Wexler’s tireless efforts since founding the company, PrizePicks has grown from a startup to the leading independent daily fantasy sports (DFS) company in the U.S. This leadership change will not alter the company’s core values. PrizePicks will continue to focus on innovation and maintaining a fan-first mentality in all its endeavors.
The future looks promising for PrizePicks, as the company stands on the brink of one of the most dynamic and transformative periods in the industry’s history. The confidence in Mike Ybarra’s blend of experience and industry knowledge is high, as he leads the company into its next growth phase.
PrizePicks’ success has always been a collective effort, heavily relying on partnerships to drive the industry forward. Together with its partners, the company has disrupted the DFS space with innovative games that fans love, and this is just the beginning.
During this leadership transition, PrizePicks will continue its operations without disruption, ensuring seamless service on its platform. PrizePicks thanks its supporters for their continued backing during this exciting time of change and growth.
Over the past decade or so, whenever we preview the Wyndham Championship the real prize for many of the golfers has been the retention of their PGA Tour card. Although the main cut-off this year is the Top 70 for the FedEx Cup Play-offs, a number in this field will also have ensuring their place with the Top 50 on their mind. That grants them entry into the BMW Championship and, subsequently, all of the big money Signature Events in 2025.
Should golfers reside outside the Top 70, they still have a final chance to retain their playing privileges. They will return for the PGA Tour Fall Series, playing through until November to ensure they remain in the Top 125 players and the music keeps playing for another year. It promises to provide an electric atmosphere, and not least because the threat of former Hurricane Debby (now downgraded to a tropical storm) looms large over the Wyndham Championship which we will preview in our weather analysis.
It was another fabulous week for our golf betting tips at the Olympics, continuing a run of excellent results.
Among our first-round leader selections, Hideki Matsuyama, Tom Kim, and Sepp Straka, we saw remarkable performances. Matsuyama, tipped at 33/1, successfully claimed the first-round leader position, while Tom Kim finished a commendable third, cashing a FRL Top 5 at 7/1. Straka also delivered a notable performance, finishing as an honorable 6th.
Matsuyama’s journey didn’t end there; he went very close to winning the tournament at 35/1 for us, eventually securing a bronze medal. In a bogey-free 65, his putter went cold down the stretch. Despite a number of birdie looks, he finished with 6 consecutive pars and finished just two strokes off Scheffler’s winning mark. He cashed a full-place for us at +875.
Tom Kim was selected as our DeepDiveGolf Bookie Beater to finish within the Top 10 at +275. He duly delivered, securing our 5th Bookie Beater cash in 6 tournaments. Unfortunately, he does mean he didn’t secure his much desired exemption from military service in South Korea. Hopefully, he manages to achieve that in the coming years and we don’t see a promising young career derailed.
Scottie Scheffler remains a problem. What will be most concerning for his competitors is that he won the Gold medal in Paris whilst losing strokes putting. That is just the 4th occurrence in the last 4 years where that has been achieved. In the final round, he tied the course record at Le Golf National without really looking like he broke a sweat.
However, give me Matsuyama 35/1 or Tom Kim 30/1 in contention over Scheffler at 4/1 any day. He would need to win in those circumstances 7 times more often, suggesting betting value still continues to lie elsewhere.
We have plenty of data to delve in this preview of the Wyndham Championship, with Sedgefield Country Club having hosted this tournament for the last 16 years.
Further, the recipe for this course is rather straightforward. That is driving accuracy, short to mid iron acumen, and the ability to find a hot putter.
The course is characterized by its tight fairways and undulating greens, where accuracy off the tee is paramount. The course rates as one of the most correlated between driving accuracy and success. Key statistics indicate that when players find the fairway, the Greens in Regulation (GIR) percentage stands at an impressive 80%. However, this drops dramatically to just 55% if the player lands in the rough. A look at recent leaderboards quickly uncovers a long list of fairway finders. Bombers have rarely found success here. Not because distance is a disadvantage, but waywardness is, and you simply don’t need distance to score here.
The course is a relatively short as a 7,127 yard par 70. There are 8 par 4s from 400-450 yards. Subsequently, you will see a number of players club down off the tee to ensure they keep the ball in-play. Further, it sees a disproportionate number of shots from 100-150 yards.
Finally, this does have a tendency to produce low scores. Just one golfer has won the event since 2015 at a score higher than -20. As such, putting is key here and acumen on Bermuda grass is desirable.
Pete Dye designed the other 18 hole golf course at Sedgefield Country Club, and it is through some of his other golf courses that strong course comps can be found when you preview the Wyndham Championship. Namely, TPC Sawgrass.
TPC Sawgrass and Sedgefield Country Club display some of the strongest correlations between two golf courses you will ever see.
To put the links in perspective, digest this fact for a moment. One third of all winners have won at both The Players Championship and the Wyndham Championship. Davis Love, Webb Simpson, Henrik Stenson, Si Woo Kim and Sergio Garcia have all won across both golf courses. Brian Harman won two junior events here in 2002 and 2003, finishing runner-up behind Scottie Scheffler in The Players earlier this season. You can go further and look at an even greater number who hold Top 5s across both events.
Another Pete Dye design, Harbour Town, is also a good guide. Carl Pettersson and Webb Simpson won at both. Davis Love, Kisner, and Si Woo were runner-up there. It asks similar questions, with a positional golf course where angles into small greens dictate that not only finding the fairways is important but precisely where in the fairway you are.
Additionally, you can look to a couple of recent TPC courses for guidance. Those are TPC River Highlands, host of the Travelers Championship, and TPC Deere Run, of the John Deere Classic. There are strong leaderboard correlations here. Both also have the added benefit of providing some indication of recent form when you preview the Wyndham Championship field. They also both often require low scoring to win, as is so often the case at the Wyndham Championship.
With former Hurricane Debby looming large this week, weather will inevitably be a substantial conversation for many this week.
I always find it entertaining when the entire golf industry become fixated on the weather. Golf is perhaps the sport most exposed to the elements. It baffles me that you could ever consider betting on a golf tournament without first factoring in what influence the weather may have. We always make weather a large factor in our considerations, especially for DFS and golf betting purposes.
It frustrates me that the PGA Tour, and sporting organizations in general, don’t make some of these calls earlier. The forecast is abundantly clear and Hurricane Debby is a significant weather event. Had an early call been made, a round could have been completed on Wednesday or Thursday postponed already. That would provide all concerned some certainty of what to expect and when.
I will make some predictions here, some bolder than others.
First, there will be no play on Thursday afternoon. Further, I wouldn’t be surprised if there is no golf at all on Thursday. Friday morning could also be delayed, with heavy rains and high winds still predicted. There will likely also be time required to clear the golf course of any debris and deal with the amount of water predicted to fall. Current predictions are 4 to 6 inches of rain.
For tee-times, that would mean Thursday AM would become late Friday AM/Friday PM. Thursday PM would then first tee-off Friday PM, possibly finishing on Saturday morning. The weather on the weekend looks much better.
Do we get a full 72 hole tournament at the Wyndham Championship? As I have watched the forecast developing, I think probably not. The PGA Tour will be torn between giving those on the cusp of qualification for the FedEx Cup playoffs their best chance of doing so, yet not compromising the lead-up to that prestigious event.
I believe the tournament will be a Monday finish regardless, as I do not see them extending into Tuesday which is the last possible day for play. The question then becomes whether the weather allows for 72 holes to be completed within that timeframe.
For DFS purposes, I think it is almost guaranteed some form of substantial weather wave develops. One group of golfers is simply going to get the best of it here. I would recommend you build line-ups in both directions to cover the wide range of inevitabilities possible.
My personal view is that Thursday PM tee-times would be desirable. That is likely going to be contrarian to the majority of takes you will read this week. That is because Thursday afternoon forecasts to be the worst weather from our Wyndham Championship preview. However, it is my position that the weather will be so bad that play simply won’t be possible.
It reminds me a little for The Players Championship in 2022. The general public saw the heavier winds forecast for the afternoon, and all played the morning golfers. We took the opposite route, citing thunderstorms in the afternoon likely to delay play. We were correct, seeing a huge weather wave advantage develop for those who barely had to play on Thursday, and a huge amount of leverage for DFS and golf betting.
Thank you for reading our preview and tournament analysis of the 2024 Wyndham Championship.
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Each day we will be displaying the players and props that show the highest win rates of their current prop line at the time of posting. For example, if a player is listed with a win rate of 90% on “over 1.5 hits,” that means that in 9 out of the last 10 games they went over 1.5 hits. We’re doing some of the legwork for you, but it doesn’t mean that we’re suggesting to bet all of these. You still need to factor in match ups and other relevant information, and keep in mind that the hit rate is based on the current line at the time of posting, and is subject to change.
These are the highest percentage win rates of the top MLB player props today.
These are the highest rated win rates over the past 10 games but to see the highest edges based on our proprietary player projections click here.
Now to see the hand selected MLB player prop bets from our betting pros check them out here.
Bet365 has been mandated to refund more than $500,000 to winning bettors in New Jersey after paying them at less favorable odds for nearly three years.
In a July letter to the company’s legal counsel, the New Jersey Division of Gaming Enforcement (NJDGE) gave bet365 until August 1 to reimburse $519,323.32 to 199 New Jersey customers. An audit revealed that the company had “unilaterally revised odds for a significant number of wagers over an extended period of time.”
Neither bet365 nor the NJDGE immediately responded to inquiries about whether customers have been repaid.
In its defense, the company stated that the odds posted were “an obvious error,” a situation where most states allow sportsbooks to adjust payouts. However, New Jersey requires sportsbooks to obtain approval from the regulator first, which bet365 failed to do.
The NJDGE highlighted this requirement in their letter, stating, “bet365 failed, in all instances, to recognize that although bet365’s House Rules were approved by the Division, it was with an express statement and caveat that bet365 was prohibited from voiding any wager without prior Division approval, as is the standard course in Division approval of House Rules and as is set forth in Division regulation N.J.A.C. 13:169N-1.11(d).”
The letter continued, “Moreover, as a sports wagering provider participating in New Jersey’s gaming industry, bet365 is charged with knowledge of the gaming laws, including the Division’s regulation barring unilateral voiding of wagers by operators without the express authorization of the Division.”
The source of these errors remains unclear, as the 13 affected bets covered a variety of sports, leagues, and wager types over a significant time frame. The events ranged from December 2020 to April 2023 and included markets such as table tennis, NFL football, college basketball futures, and golf.
Alongside the payouts, bet365 is required to submit a comprehensive report by August 11 detailing its efforts to identify and rectify failures in its internal software systems and manual trading errors, and to ensure the accuracy of its data feed.
By addressing these issues, bet365 aims to prevent similar incidents in the future and maintain the integrity of its operations within the highly regulated New Jersey sports betting market.
Penn Entertainment is set to deliver one of the most anticipated earnings reports this quarter as it navigates investor pressure while ramping up ESPN Bet ahead of its first full NFL betting season.
Penn will announce its second-quarter results at 7 a.m. ET on August 8, followed by an earnings call at 9 a.m. ET.
Investors have been eagerly awaiting a business turnaround since Penn swapped out Barstool for ESPN Bet last summer. The impatience is evident, as the stock saw nearly a 20% jump following a critical letter from a key shareholder questioning company strategy and leadership. However, some believe the upcoming football season could help the app achieve key milestones.
Online gaming revenue was significantly down in Q1, missing both Wall Street estimates and Penn’s prior guidance. The app’s lackluster financials have overshadowed Penn’s retail business, though CEO Jay Snowden has urged investors to have faith in his long-term plan.
Upcoming product changes for ESPN Bet ahead of football season include integration with ESPN’s extensive media assets, a standalone iGaming app, and expanded same-game parlay offerings. These enhancements were a major reason for committing up to $2 billion to ESPN over the next decade, a plan announced during the last earnings call.
Since then, Penn has laid off as many as 100 employees, including some involved in those product changes. Despite this, Snowden maintains that ESPN Bet is “well-positioned.”
Aaron LaBerge, former ESPN Chief Technology Officer, took over the interactive division in July, shortly before the layoffs. In a recent LinkedIn post, he highlighted improvements made to theScore. He or Snowden is expected to provide further insights into ongoing product refinements.
ESPN Bet has also faced challenges due to a significant drop in promotions since its launch in 18 states, resulting in an 11% decrease in users last quarter. However, with the football season approaching and plans to launch in New York, promotions are likely to increase.
According to Snowden, ESPN Bet would have performed better last quarter if bettors had not been as successful. The particularly unfavorable quarter of sports outcomes impacted the entire industry, with Penn’s 4.4% hold among the worst. Despite this, handle was nearly double compared to Q1 2023.
As of April, ESPN Bet was holding at 8.5%, a level Penn guided investors to expect for the rest of Q2. The ability to sustain increased betting activity in typically slow Q2 could be crucial for Penn’s online gaming revenue story, along with the hold rate.
Early handle reports, however, have been less encouraging. According to Citizens JMP Securities, ESPN Bet ranked sixth in second-quarter handle share at 3.2%, down from 4.7% in the first quarter, though this did not include key states like Arizona, Illinois, and Ohio reporting June figures.
Management will likely face questions about the letter from Donerail Group, prompted by poor sports betting results.
Boyd’s appointment of a director with a history of financing and advisory roles has fueled speculation about Penn’s rival as a potential buyer. A report from TheDeal.com suggests that FanDuel parent Flutter could potentially acquire Penn’s betting app assets if a sale occurs.
Snowden has remained silent on the letter, and Disney has provided little insight into its partnership with Penn. Investors are keen to know what would happen to ESPN Bet if Penn sells, as it could have significant ramifications across the industry.
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