The Current: The FAIR BET Act Keeps Picking Up Steam
Gambling news roundup: Vote on CFTC nominee is delayed; ACC to provide reports for player availability in football, basketball; Hard Rock Bet comes to Colorado.
The Current is a weekly report on a new development in the gambling industry from The Closing Line.
Rep. Dina Titus (D-Nevada) continues to drum up support for the FAIR BET Act, which would restore the gambling loss tax deduction for taxpayers to 100%. The One Big Beautiful Bill (OBBB) lowers the deduction to 90%, a move that has been widely criticized.
Titus now has ten co-sponsors, five of them Republicans:
Rep. Ro Khanna (D-CA)
Rep. Troy E. Nehls (R-TX)
Rep. Steven Horsford (D-NV)
Rep. Jefferson Van Drew (R-NJ)
Rep. Mark E. Amodei (R-NV)
Rep. Susie Lee (D-NV)
Rep. Gilbert Ray Cisneros (D-CA)
Rep. Christopher R. Deluzio (D-PA)
Rep. Darren Soto (D-FL)
Rep. Guy Reschenthaler (R-PA)
A large number of co-sponsors doesn’t guarantee success for a piece of legislation, but it’s certainly showing it has some momentum. A standalone bill making it through Congress is often unlikely, but getting this bill added to another big bill this fall or being done as a “technical correction” are both possibilities.
No matter what, the bill has gotten a lot of press coverage and bipartisan support, which is better than the alternative.
The House Ways and Means Committee is also holding a field hearing on Friday in Las Vegas on the OBBB. That’s led to speculation that the gambling loss tax deduction will come up, since it’s in the capital of US gambling. We’ll see! One of the co-sponsors, Rep. Horsford, is on the committee.
You’ll be able to watch here:
According to a press release on the hearing:
House Committee on Ways and Means Chairman Jason Smith (MO-08) announced today that the Committee will hold a field hearing to highlight the One, Big, Beautiful Bill’s benefits for American families and workers. The hearing will take place at 10:00 AM (Pacific Daylight Time) on Friday, July 25, 2025, at YESCO in Las Vegas, Nevada.
Members of the public may view the hearing via live webcast available at https://waysandmeans.house.gov. The webcast will not be available until the hearing starts.
If you’re interested in getting your voice heard on the gambling tax provision, this is arguably a good opportunity to do that. Again from the presser:
In view of the limited time available to hear the witnesses, oral testimony at this hearing will be from invited witnesses only. However, any individual or organization not scheduled for an oral appearance may submit a written statement for consideration by the Committee and for inclusion in the printed record of the hearing.
DETAILS FOR SUBMISSION OF WRITTEN COMMENTS:
Please Note: Any person(s) and/or organization(s) wishing to submit written comments for the hearing record can do so here: WMSubmission@mail.house.gov.
Please ATTACH your submission as a Microsoft Word document in compliance with the formatting requirements listed below, by the close of business on Friday, August 8, 2025.
Full details on how to make a submission here.
Finally, a good chuckle (at least for me) via Titus:
FanDuel’s Trusted Voices: Conversations About Betting is designed to equip adults, including parents and coaches, with tools and resources to talk to young people about gambling, including information on warning signs, risks and proxy betting. The program is led by retired professional basketball player Randy Livingston and his wife, basketball agent Anita Smith, who share their personal stories related to problem gambling, with the hope of preventing others from experiencing similar harms. Learn more and join the conversation here.
Gambling news roundup
US Senate vote on Quintenz’s CFTC confirmation is delayed without official explanation (iGB): “A US Senate committee unexpectedly delayed a vote on the nomination of Brian Quintenz as the chairman of the Commodity Futures Trading Commission on Monday, providing another twist in the drama surrounding the federal government’s role in regulating prediction markets. The US Senate Committee on Agriculture, Nutrition and Forestry had listed Quintenz on its website earlier Monday as one of four nominees from US President Donald Trump who were scheduled for a vote. The committee abruptly pulled Quintenz from the list later in the day, according to a congressional staffer who told iGB they were not authorised to provide additional detail explaining the delay.”
Like the iGB report, The Closing Line understands that the vote was scuttled because one Republican senator wasn’t present due to problems with a flight. Quintenz apparently will get no support from Democrats, meaning enough Republicans need to be present at a vote to advance him to the full Senate.
Kalshi Volume Report: British Open, MLB, UFC 318 Are Week's Top Markets (The Event Horizon): “The British Open was the biggest driver of volume at Kalshi last week, even with Scottie Scheffler’s domination of the final round.
The golf tournament accounted for more than a quarter of all trading for the week of July 14-20. Sports made up almost three-quarters of volume.”
DraftKings Makes Royal Debut in Online Sports Betting and iGaming Industry, ACSI Data Show (press release): “According to the American Customer Satisfaction Index (ACSI®) Entertainment Study 2025, video streaming stumbles 1% to a score of 78 (on a 100-point scale). Social media (74) and subscription TV (70) are unchanged, and online sports betting and iGaming debuts with an ACSI score of 76. … DraftKings (78) edges out BetMGM (77) and FanDuel (76) in the industry’s inaugural measurement. These three operators have put a modest gap between themselves and ESPN BET and Fanatics, each scoring 73. Caesars, the final reported brand, finishes last with a score of 69. Mobile app quality tops the list of customer experience benchmarks at 80 — which shouldn’t be surprising considering online sports betting and casino games rely heavily on the mobile user experience. Several other fundamentals — mobile app reliability, privacy, and ease of navigation — are just a point lower at 79 apiece. In an industry poised for exponential growth, operators are battling to find ways of providing an engaging experience with high-tech resources, access to valuable information, personalization, and helpful tools. New AI integrations that assist players in their wagering strategies and the option to use cryptocurrencies for payment, for instance, are just some of the ways companies are trying to differentiate themselves and bring in more users.”
From the report:
ACC to release availability reports before conference games (ESPN): “The ACC will begin releasing public availability reports at least 48 hours before all conference games this football season, commissioner Jim Phillips announced Tuesday. The conference will require all schools to submit NFL-style reports that categorize players as ‘available,’ ‘questionable,’ ‘doubtful’ or ‘out’ with updates both the day before a game and two hours before kickoff. The decision, Phillips said, is intended to counter a push by gamblers to gain inside information.
"There's stresses on our student-athletes from individuals who are trying to garner information," Phillips said. "Sometimes it's pretty innocent. They just want to know because they're a big fan. But other times it leads into the gambling and sports wagering path."
“Phillips said the availability reports will also be required for basketball and baseball.”
The ACC follows a similar move from the SEC. This should arguably be the standard throughout major college sports.
A political battle is brewing over measure that would allow online gambling in Mass. (Boston Globe, paywall): “Massachusetts lawmakers spent years debating casino gambling before legalizing it in 2011. But when it comes to a measure that would let people turn their smartphones into mobile slot machines and poker tables, well, that could happen sooner than you think. That’s the feeling I get with a pair of bills that were introduced in the Legislature in January that would allow people to place bets on online casino games. Sure, many bills are filed on Beacon Hill, and most go nowhere. Not so for House Bill 332 and Senate Bill 235, which already got a committee hearing in late June — a key first step toward becoming law — much to the surprise of opponents.”
That’s a bit of interesting on-the-ground speculation about online casino in Massachusetts. The struggle to pass iGaming bills in new states has been real; but perhaps there’s an inkling of progress in the Bay State.
Rubin Brown publishes US gaming statistics and taxes for 2024 (LinkedIn): “A state by state analysis of the US gaming market. In 2024, over $89 billion in gaming revenue was generated representing a 6% increase from 2023. However, this amount does not represent the total addressable market for the entire U.S. gaming landscape. The actual potential market size is significantly larger and the overall gaming market will continue its strong growth trajectory, fueled by evolving and innovative customer experiences.”
Whole thing here:
Hard Rock Bet Sportsbook Launches in Colorado, Now Live in Nine States (Hard Rock): “Hard Rock Bet is now live with sports betting in Colorado, marking the ninth state for the top-rated platform. Hard Rock Bet is the first sportsbook operator to launch in Colorado since January 2024, providing players with a new experience and the opportunity to take advantage of a new welcome offer: Bet $5 and Get $150 instantly in Bonus Bets.
“Hard Rock Bet Sportsbook is bringing an exciting new experience to Colorado players with deep betting markets on all major sporting events plus local favorites like table tennis and MMA. With our top-rated platform, weekly Legendary Reward Drops, and integration into Unity by Hard Rock, we’re confident that Coloradans are going to love the Hard Rock Bet Sportsbook experience,” said Matt Primeaux, Hard Rock Bet’s Executive Managing Director – President & Chief Revenue Officer.
PrizePicks Taps KLUTCH Sports Group for Strategic Brand Advisory (press release): “PrizePicks, the largest daily fantasy sports operator in North America, today announced that KLUTCH Sports Group has been enlisted as a strategic brand advisor. As part of the collaboration, KLUTCH — along with its Brand Consulting and Sports and Brand Insights divisions — will advise PrizePicks on talent strategy, brand development, and relationship building across the sports and entertainment landscape.
"As sports fandom continues to evolve, PrizePicks is focused on meeting fans where culture, community, and entertainment converge," said Mike Quigley, Chief Marketing Officer at PrizePicks. "KLUTCH brings an unmatched cultural influence that will help us elevate our brand and connect more deeply with fans nationwide."
“KLUTCH will support PrizePicks through a slate of bold, upcoming marketing campaigns, tapping into the agency's expertise across sports, music, entertainment, and creators. Powered by KLUTCH's data and valuation insights and strategic guidance, the agency will bring fresh energy and star power to the brand to unlock opportunities in both culture and fandom.”
PrizePicks has excelled at leveraging influencers to grow its business and brand in recent years, so leaning into that idea even more makes sense.
The New Normal: Standing Guard – Tribal Gaming’s Response to Federal Rollbacks (Webinar, Wednesday, 1 pm Eastern): ”From energy to economic development to gaming oversight, the Trump administration’s second term is already reshaping federal Indian policy in ways that will have lasting consequences. Amid proposals to weaken regulatory safeguards, shift agency priorities, and reinterpret foundational laws, tribal governments and institutions are being forced to adapt, and push back. In this episode of The New Normal, we’re joined by Indian Gaming Association Chairman Ernest Stevens, Jr., to discuss how the tribal gaming industry is responding to this volatile political moment. What’s at risk? What’s already changed? And how is the Indian Gaming Association standing guard to protect tribal rights, programs, and economic progress? Join us for an urgent conversation about defending hard-won gains, and what’s next for tribal leadership in the face of federal rollbacks.”
Monmouth Park Hopeful for Growth in Fixed-Odds Wagering (Bloodhorse): “When Monmouth Park helped lead the charge that would see a 2018 Supreme Court decision open states to fixed-odds sports wagering, the track had hoped such fixed-odds wagering on horse racing would be further along in 2025 than it is, but track officials are still hopeful things will soon move forward. Through an agreement with BetMakers, Monmouth offers fixed-odds wagering for New Jersey residents on its races and on other tracks that have agreements in place. Monmouth Park CEO and chairman Dennis Drazin said on the July 21 BH Monday podcast that each state and track owner has had its own story when it comes to fixed-odds wagering, in which bettors are offered set odds as opposed to pari-mutuel odds that fluctuate until pools are locked, but he's hopeful the market will soon open.”
"Other tracks and jurisdictions around the country are slow to come aboard," Drazin said on BH Monday. "Some need legislation. Some need gaming board approval. Some operators have a mindset that it's going to cannibalize the pari-mutuel handle."
Affiliate Leaders Summit expands to three days and adds awards (SBC Americas): “The Affiliate Leaders Summit will return to the Feira Internacional de Lisboa (FIL) this September, now expanded to a three-day format and featuring the debut of the Affiliate Leaders Awards. Taking place Sept. 16-18, the Affiliate Leaders Summit runs alongside SBC Summit as a standalone platform for affiliates, affiliate managers and suppliers. It also delivers a more targeted networking and learning experience, with a dedicated content stage and curated audience of 8,000 operator representatives and 3,500 affiliates.”
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