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The Action Network wants to be a sports-betting unicorn. Will it make a billion or be a bust?

The network’s frattier personalities are paired with more traditional reporters, like longtime basketball writer Matt Moore and ESPN’s former golf writer Jason Sobel. In early August, Action brought on NBA commentator Rob Perez, who comes to the company bearing nearly 250,000 Twitter followers . Action’s written content has run the gamut from a basic glossary to a betting guide on the Scripps National Spelling Bee to a deep dive into the card game that led Washington Wizards teammates Gilbert Arenas and Javaris Crittenton to confront each other with guns in the locker room. The goal here is twofold. First, familiarize sports fans with the language of betting, making terms like parlay and reverse line movement as mainstream as pick-and-roll and pass rush. Second, make gambling feel at once cool and commonplace, erasing the image of bettors as lonely old men wagering compulsively at off-track betting facilities. The company also has a database of public betting information going back decades, which allows it to run the numbers on things like Cowherd’s prime-time blowout theory. Then there is the Action app, which enables fans to track their bets. (The company says 9 million individual bets have been registered to date.) Come football season, Action will start sending individualized alerts offering advice on when to hedge or double down. Given that, 80 percent of sports bets globally are made after a game starts, per the sports data company Sportradar, that kind of functionality is crucial. For Action to succeed, it needs to find a larger audience that’s looking for more than the latest odds.

For the original version including any supplementary images or video, visit https://slate.com/business/2018/08/the-action-network-wants-to-be-a-sports-betting-unicorn-will-it-make-a-billion-or-be-a-bust.html

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Mississippi casinos not ready for sports betting as laws take effect

Currently, Mississippi’s casino industry generates roughly $352 million annually in state and local taxes and $323 million in federal tax revenue, according to the Mississippi Gaming Association. How much revenue state coffers will gain from sports betting is unknown. Annual illegal athletics wagering totals roughly $150 billion domestically, according to the American Gaming Association, a casino interest group. But generally, states are not expected to see a windfall from sports gambling taxes. Casinos generally take in about 5 percent of all bets on athletics, the American Gaming Association says, with the rest paid out in winnings. States will collect taxes on that 5 percent.

For the original version including any supplementary images or video, visit https://www.reuters.com/article/us-usa-gambling-mississippi/mississippi-casinos-not-ready-for-sports-betting-as-laws-take-effect-idUSKBN1KA2BE

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