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sports betting analyst - FabioIneks - 02-08-2021 Sports Betting Could Grow 70% In 2021, Casino Recovery Coming: BofA Analyst. Casino, gaming and sports betting stocks had a wild ride in 2020 with the COVID-19 pandemic and the cancellation of major sports seasons and events. Bank of America analyst Shaun Kelley shared his thoughts on the overall sector with a 2021 outlook called, “From shorts to sports.” Sports Betting: The key story for sports betting in 2021 could be the additional states that have approved sports betting, adding to the addressable market. The sports calendar could be a major concern again in 2021. The shifting of sports events into the second half of the year 2020 could create some difficult comps in mature markets like New Jersey, Pennsylvania and Indiana. States like Michigan and Virginia are expected to launch sports betting in early 2021. States like New York, Ohio, Massachusetts, Maine, Georgia and Connecticut are also ones to watch for possible legalization. By the end of 2021, Kelley forecasts 27 states will have legal sports betting, representing 49% of the U.S. population. The years 2021 and 2022 could add a combined 24% of the U.S. adult population into the sports betting market versus 10% added in 2018 and 23% added in 2019 and 2020. DraftKings Inc. (NASDAQ: DKNG) was one of the top performing sports betting stocks in 2020. The company is rated neutral by Kelley due to the cost structure and high marketing spending. Churchill Downs (NASDAQ: CHDN) was initiated with a buy rating by Kelley. The analyst highlights the strong Kentucky Derby brand, accelerating growth profile and the online growth platform of TwinSpires. Penn National Gaming (NASDAQ: PENN) has a price target of $104 from Kelley. Casinos/Gaming: The casino sector could be the tale of two halves as Kelley predicts a recovery of the sector with the second half of the year recovering more rapidly. Widespread vaccine distribution could be a catalyst to bring back convention business in the second half of the year. In Las Vegas, RevPar is estimated to rise 25% to 30% year-over-year, according to Kelley. The estimate calls for RevPar to be 5% to 10% below 2019 revenue. Comparables should be easy to beat in 2021 due to pent-up demand, Kelley said. Kelley remains neutral on Caesars Entertainment (NASDAQ: CZR) but raised the price target from $65 to $75, citing a faster than expected recovery. Macau: One of the hardest to predict markets in gaming is Macau, Kelley said. The region has massive potential and massive uncertainty. Kelley raised price targets on two related Macau names. Wynn Resorts Ltd. (NASDAQ: WYNN) got the biggest price target upgrade, going from $95 to $122. The target on Las Vegas Sands Corp. (NYSE: LVS) rose to $65 from $61. Photo by Joe Calomeni from Pexels. ESPN Signs Daily Wager Host, Sports Betting Analyst Doug Kezirian to New, Multiyear Contract. Sports Betting Roster Boosted with Additions of Fortenbaugh, Fulghum. Daily Wager Returns Fulltime from New Las Vegas Studio Sept. 8. In addition, ESPN has boosted its sports betting roster with the fulltime additions of analysts/hosts Joe Fortenbaugh and Tyler Fulghum, both of whom also will work from Las Vegas. “On a personal level, I’m thrilled that I’m able to stay with ESPN and continue what we started in the betting space,” said Kezirian. “I’ve been along for the ride for many years including hosting Daily Wager and I think this move to Las Vegas is just the latest step in the overall vision that ESPN has for sports betting. I’m incredibly fortunate and grateful that the team believes in me to help launch this in Las Vegas.” He previously lived in Las Vegas for seven years, where he was sports director and anchor for the city’s ABC affiliate TV station. He also co-founded a sports betting radio show that eventually landed on the city’s ESPN Radio affiliate station and he has covered sports betting for more than 15 years. “It makes perfect sense to go to Las Vegas,” said the Los Angeles native and former Brown University water polo player. “Obviously sports betting legalization is growing across the country but to have the access we will have in Las Vegas and to have boots on the ground is something I’m looking forward to as a journalist and as someone who is immersed in sports betting.” Fortenbaugh, who has contributed to Daily Wager as an analyst since the show began, will continue in that role but also will co-host a new digital sports betting program that ESPN will launch for football season and will contribute to both ESPN Radio and to ESPN digital content. Fulghum, who was with Stadium in Chicago from 2013 until recently, also will be an analyst for Daily Wager and a co-host for the new digital show. At Stadium, he was co-host of the Sauce & Shram show from 2018-2020 and analyzed sports betting and fantasy. Prior to joining Stadium, Fulghum was a sports reporter for KHQA-TV in Quincy, Ill., from 2007-2008 and then was Sports Director at KMIZ-TV in Columbia, Mo., covering mid-Missouri sports and Mizzou Athletics from 2009-2013, graduating from the Missouri School of Journalism. Daily Wager , which was launched to better serve the millions of sports fans who participate in sports betting, and to help educate general sports fans with more in-depth analysis, moved to ESPN2 in August of 2019 after debuting on ESPNEWS. During football season, the program will air Tuesday-Friday at 6 p.m. ET with a Sunday morning edition at 9 a.m. The program has been on hiatus during the pandemic but Daily Wager segments have appeared on SportsCenter and the ESPN YouTube channel during that time. MarketWatch Site Logo A link that brings you back to the homepage. Account Settings Log In Sign Up. Michigan legalizes sports betting — the state could generate $8 billion a year in sports bets, according to one analyst. Weston Blasi. Michigan is the second biggest state in terms of population to legalize online sports betting. DraftKings is one of the casino operators that will begin accepting online sports bets in Michigan on Friday. (AP Photo/Charles Krupa, File) Referenced Symbols. On Friday, Michigan will become the 15th state to accept legal online wagers on sports after getting authorization from the Michigan Gaming Control Board. “Michigan residents love sports and, judging by inquiries we’ve received, eagerly anticipate using mobile devices to place bets through the commercial and tribal casinos,” executive director of the gaming board Richard S. Kalm said in a statement. “Online gaming and sports betting will provide the casinos with new ways to engage with customers while the state and local communities will benefit from taxes and payments on wagering revenue,” he added. Michigan passed legislation in 2020 to legalize sports betting, and will begin online betting today as several casino operators are set to begin taking bets at noon. Online sports betting is a gamechanger for betting revenues. In-person-only sports bets are only a small fraction compared with online betting in most states. For example, in New Jersey, which frequently has the most money wagered on sports of any state in the U.S., about 90% of all bets are made online, according to public data. How popular could sports betting in Michigan be? Betting analyst Dustin Gouker estimates the state could generate $8 billion in sports bets annually and $500 million in gross operator revenue. “Michigan is the second-largest state in terms of population to have legalized online sports betting and online casinos and poker, behind only Pennsylvania,” said Gouker. “Michigan’s business-friendly tax rate and competitive licensing fees will attract operators, too. And with a solid tribal and commercial casino infrastructure already in place, Michigan should be poised for quick success.” If such estimates come to fruition, those amounts could generate as much as $40 million annually for the state of Michigan, according to Gouker. Many states are mulling legalizing sports betting as a revenue generator, especially during the COVID-19 pandemic where state budgets have become thin. Even New York Gov. Andrew Cuomo, who had long pushed back against the idea of legalizing online sports betting, has been persuaded by events surrounding the COVID-19 pandemic. Before placing any wagers, it’s important to look up betting rules in your state, as each state that has legalized online betting has its own set of oftentimes quirky rules. For example, sports betting is legal in New York, but only at four retail casinos in upstate New York. In Virginia, there is a bill that restricts bets on hometown college teams, and in Mississippi you can bet online, but only when inside a casino. The federal government gave states legislative power to legalize sports gambling when the Supreme Court ruled the ban in sports betting was unconstitutional in 2018. Twenty states in addition to Washington, D.C. currently offer sports betting, according to the American Gaming Association. A few more states have legalized betting, but are not currently accepting wagers. Read Next. Read Next. Twitter, Google Cloud announce multi-year strategic partnership. Google parent Alphabet Inc.'s undefinedundefined cloud division on Thursday announced a new, multi-year, strategic partnership with Twitter Inc. undefined. Under the deal, Twitter will extend its work with Google and move offline analytics, data processing, and machine learning workloads to Google's Data Cloud. This would allow Twitter to analyze data faster and improve the experience for people who use the service every day. Shares of Shares of Twitter and Alphabet are flat in after-hours trading. Sports Betting Analyst. Location: Anywhere, USA (remote) Salary: TBD (based on experience) Description: Are you passionate about sports betting and love sharing your knowledge? If so, this is an opportunity to turn your passion into a career and have fun doing it. Key Responsibilities: Craft data-driven, in-depth articles across sports for our betting community. Collaborate with Content team to identify fresh topic ideas centered around upcoming events. Provide news coverage with a focus on games, sportsbooks, state legality, and industry trends. Deliver ATS, O/U, Moneyline, etc picks with supported advice to help power BettingPros tools. Host a podcast centered around best bets for upcoming games and seasons. Offer insightful advice across all other relevant platforms (e.g. Video, Social). Identify opportunities for new reports and analysis. Requirements: Expert level knowledge of teams and players across a variety of sports (NFL, NBA, MLB, NHL, NCAAF/B, etc) Must have experience and passion for sports betting. Fantasy sports knowledge is a plus. Experience creating podcast and/or video content. Analytical with ability to offer accurate and credible advice. Excellent written and verbal communication skills. Strong teammate who is willing to help out wherever is needed. 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