Author: Casino Connection Staff

Sports betting on single games has passed Canada’s Senate and only needs royal assent to become legal. Once that happens, provinces and territories will be free to regulate betting on hockey, football and other sports as they see fit, and bettors will be able to wager on teams like the Toronto Maple Leafs, the B.C. Lions and the Toronto Blue Jays.

It’s possible Canadians could be placing wagers on single-game contests by this fall, perhaps in time for the NFL season, which begins September 6.

By a vote of 57-20, the Senate approved MP Kevin Waugh’s Bill C-128, the Safe and Regulated Sports Betting Act. It amends the federal criminal code, which currently allows only combination wagers, known as parlay wagers, and betting on horse racing. The bill passed in the House of Commons several months ago.

Its passage will go a long way to helping Canada rake back some of the gambling proceeds that are now being sucked up by offshore websites such as Bet365 and Bodog, black-market bookmakers, and casinos in the United States. Since the U.S. Supreme Court lifted a federal ban on the wagers in 2018, 26 states have jumped on the sports betting bandwagon, with more waiting in the wings.

The author of the Senate bill, David Wells, says a legal industry will redirect that illicit revenue into provincial taxes. During the final debate on the bill, he declared, “Canadians are placing billions of dollars’ worth of bets annually through these offshore sites, that go entirely unregulated in Canada.” The Canadian Gaming puts that figure at north of $4 billion.

TheScore, which operates a betting app, estimates the market to be as high as $5.4 billion annually. And DraftKings estimates the market for sports betting and iGaming in Canada could be worth up to $8 billion a year.

Wells said in a statement: “This bill, once it becomes law, will make it possible for single-event sports betting to be regulated—and it will increase consumer protections and safeguards. Revenue streams going to illegal actors will dry up and be redirected to Canadian communities in a way that is legal and taxable.

“This is a critical moment for Canada, as single-event sports betting will finally be brought into the light of day.”

Provincial governments have called for the ability to regulate gaming for years because, they say, they could use the revenue.

The bill was rare in that it won approval from all four main political parties. Similar bills had almost reach this point: one was passed in the House of Commons in 2015 but died in the Senate when a federal election was called, suddenly putting the brakes on all legislation. Another try in 2016 didn’t even get that far.

However, more than 20 senators did vote for amendments that would have sent the bill back to the House. One of them, Senator Vern White, commented, “This piece of legislation has many tentacles that could have been and should have been looked at more closely.” White had wanted to amend the bill to make match fixing a crime. However Senator Brent Cotter argued that the existing Criminal Code that addresses “cheating at play,” already deal with that issue.

Cotter also insists that it’s the minor leagues where players earn less than the big leagues that game fixing is a problem—one that has been exacerbated by illegal betting sites.

Professional sports organizations such as the Canadian Football League (CFL) and National Hockey League support the change. The CFL trumpeted the change and predicted that legalization “will move sports wagering out of the shadows and into the light of day where it belongs.”

Some provinces aren’t waiting for the ink to dry before getting ready. British Columbia Public Safety Ministry spokesman Travis Paterson announced that the B.C. Lottery Corp. is “positioned to allow single-event wagering online almost immediately” on its website, PlayNow.com.

BCLC’s interim president and CEO Lynda Cavanaugh said in a statement: “We’re excited to soon provide our players these new offerings on PlayNow.com, which is B.C.’s only legal gambling website and delivers important revenue back to the province of B.C. to support things like health care, education and community programs.”

In Ontario, Attorney General Doug Downey promised to “land the framework by this fall,” with regulations and rules for licensing in place by the end of 2021.

Although Canadian casinos could benefit from the expansion of sports betting, British Columbia and Ontario are promising to make it available more widely than that.

Supporters of sports betting have been nervous for months as the bill wended its way through the House of Commons and then the Senate. There is considerable tension between Prime Minister Justin Trudeau and the opposition party that could, at any time, lead in Trudeau calling for an early election, which would have ended all legislative efforts. With that possibility always waiting in the wings, sponsors of C-218 worked feverishly to pass the bill as quickly as possible.

This was complicated by several amendments that were introduced, one to prohibit match fixing and the other to specifically include Indigenous nations as entities that could participate in sports betting. Both were batted away.

However, Senator Wells, who is a mountain climber, compared his strategy in pushing the bill to an assault on a peak. He told SportsHandle.com, “In high-altitude mountaineering the biggest thing is not the climb, it’s the preparation.

“If you go in with a solid plan, it’s not unlike doing a climb like Kilimanjaro or Elbrus. If you do your preparation, your chances of success are good even with the closing window that we had.”

When it comes to sports, Chickie’s & Pete’s is a Philadelphia institution. Ever since the bistro bar grew from its roots in the late 1970s as a neighborhood taproom to multiple locations offering up famous crab cakes and crab fries, the brand has been known for its sports bar. In fact, in 2011, ESPN voted Chickie’s & Pete’s the No. 1 sports bar in North America.

The brand will continue to showcase sports. What it will not have for the time being is a sportsbook.

The Philadelphia Zoning Board of Adjustment last week voted to deny a request for a special-exception permit for Parx Casino to move its South Philadelphia Turf Club sportsbook into the Chickie’s & Pete’s restaurant in the South Philadelphia Stadium District.

The vote, conducted during a Zoom hearing, was not even close at 4-1. The decision was in part a reaction to furious local opposition to the idea, headed by the Packer Park Civic Association. The association president, Barbara Capozzi said the group was “thrilled” by the decision.

“This heroic decision reaffirms that good, hard-working, tax-paying residents have a right to determine what happens in their community,” Capozzi said in a statement emailed to the Philadelphia Inquirer. “We work so hard here to keep people in the city, keep our own community safe and drug-free, and support working families by providing a safe and welcoming community.

“We testified that we feel we have earned the right to say no to a use that will only serve to erode the beautiful community that we have built. This renews our faith in the system, and in the hard work that our community and Civic Association has always done to defend itself.”

Parx attorney Mark S. Stewart’s statement to the Inquirer, of course, took a different tone. “We are very disappointed in the Zoning Board of Adjustment’s vote today on the application for 1526 Packer Avenue,” he said. “Their action was contrary to the City Planning Commission’s favorable recommendation and the strong record justifying the special exception. We will await the board’s written decision before making any decisions on next steps.”

Zoning Board Chairman Frank DiCicco registered the lone “yes” vote on the proposal.

Louisiana Governor John Bel Edwards recently signed the final pieces of legislation to make sports betting legal in the state. He signed SB 247 and SB 142, the two primary regulatory and appropriation bills and previously signed HB 697, outlining the tax and fee structure. The three measures establish the main framework for retail and mobile sports betting. Legislative sponsors said sports betting could launch this fall with 41 potential licenses; each of the state’s 20 casinos can have two online skins, and the Louisiana State Lottery also will be allowed to open a mobile sportsbook, plus kiosks at hundreds of restaurants and bars.

Altogether, sports betting could generate more than $2.5 billion in annual wagering by its third year, plus more than $200 million in operator revenue. Analysts said with online bets taxed at 15 percent and retail bets at 10 percent, the two combined could generate up to $30 million in annual tax revenue.

Louisiana voters approved sports betting in 55 of 64 parishes in 2020. Under the legislation, bettors age 21 or older and physically located in those parishes can place a bet with a licensed operator from their phone or mobile device; in-person registration is not required. Athletes, coaches and referees may not bet on a sporting event in which they are involved. Bets can’t be placed on high school or youth sports events. And, an individual who lives in a parish that didn’t approve sports betting can drive over to a parish where the wagering was legalized to place a bet.

The state offers an action-packed sports scene, with a National Football League and National Basketball Association franchise, five major college football programs and 12 National Collegiate Athletic Association Division I men’s basketball programs.

Eric Ramsey, analyst for the PlayUSA.com network, said, “Louisiana should be able to outperform its relatively small population. In fact, as a market, Louisiana shares many of the same attributes that have made New Jersey and Nevada sports betting Meccas. The state has long been home to a thriving casino industry, New Orleans itself can draw tourists from all over the country and Louisiana is not bordered by another state that offers both retail and online sports betting.”

Dustin Gouker, lead analyst at PlayUSA.com, added, “The basic framework will be appealing for sportsbook operators, and that will help the state reach its potential. Even more, Louisiana set up a relatively open and competitive market, which benefits consumers while making the industry a reliable revenue producer for the state for years to come.”

Gouker said New Orleans is particularly appealing as a sports tourism market, attracting fans from all over the country for regular season games and special events. He said residents from neighboring states will regularly travel across state lines to place bets.

Senate President Patrick Page Cortez sponsored the regulatory bill providing up to 40 licenses. State Rep. John Stefanski sponsored the tax and fee structure bill, which establishes a $250,000 initial application free with a $500,000 license fee for the first five years. Of the 20 available licenses, casinos and racetracks have first priority until January 1, 2022. If they do not use all the licenses, fantasy sports betting operators and video poker establishments can apply.

State Senator Rick Ward sponsored SB 142 which distributes sports betting tax revenue as follows:

• 25 percent, or up to $20 million, to the Early Childhood Education Fund
• 10 percent to the Sports Wagering Local Allocation Fund
• 5 percent to the Sports Wagering Purse Supplement Fund
• 2 percent to the Behavioral Health and Wellness Fund, or $500,000, whichever is greater
• 2 percent to the Disability Affairs Trust Fund, up to $500,000
• The remainder would to the General Fund.

Most major U.S. sportsbook operators are expected to apply for one of Louisiana’s 41 licenses, including DraftKings, FanDuel and BetMGM. Observers said Caesars also is expected to open online and retail sportsbooks. The parent companies of Barstool Sportsbook, Golden Nugget, TwinSpires and B Connected all operate casinos in Louisiana and are likely to launch sportsbooks. It’s expected that college sports betting will account for at least 15 percent of total handle.

Louisiana regulators now will finalize rules for sportsbook operators, which should take a few more months. After final rules are posted, sportsbook operators can apply for licenses. The legislation allows casinos and horse racetrack operators to receive temporary licenses.

The Ohio Senate approved legislation June 16 to legalize sports betting. SB 176 creates three license categories:

• A licenses: for online gaming, with as many as 25, regulated by the Casino Control Commission
• B licenses: for brick-and-mortar casinos, racinos and other in-person sportsbooks, with as many as 33, also regulated by the commission
• C licenses: for self-service terminals at bars, restaurants, bowling alleys and other liquor permit holders. No more than 20 would be issued and regulated by the Ohio Lottery

The legislation charges a 10 percent tax on net revenue, with 98 percent of tax income funding K-12 public and private education. The remaining 2 percent goes to the Problem Sports Gaming and Addiction Fund, according to Cleveland.com.

“Sports provides that intangible in our society,” said Senator Niraj Antani, a sponsor of the bill. “It’s with your friends, watching the Bengals throw that Hail Mary at the end of the game. Watching the Cavaliers drain that buzzer beater, or watching the Reds, one run down at the bottom of the ninth, with a man on third and the batter with a full count. It’s about rooting for the home team in a very, very divisive time in our society.”

The bill also allows Ohio fraternal and charitable organizations to have up to 10 electronic instant Bingo machines, regulated by the Ohio Attorney General’s Office.

Not everyone is happy with the legislation. But only 20 businesses in the coalition can offer sports betting.

“Right now, 10,700 businesses in all 88 counties have the opportunity to be able to provide this through the lottery,” said Greg Beswick, of the Fair Gaming Coalition of Ohio, which represents the bars, taverns, restaurants, bowling alleys and other businesses that sell Ohio Lottery products. “It’s giving a monopoly to the four entities again, the casinos around the state, instead of cutting it into 10,700 small businesses.”

Brick-and-mortar sportsbooks are limited to counties with a population exceeding 100,000 with no more than three permitted. Opponents also say limitations would allow sports betting in 27 of the 88 counties, according to Statehouse News Bureau.

“Let the casinos and racinos have sports betting. That’s where the large bets can go. But let the 10,700 small businesses that are lottery providers be able to participate at this at the keno kiosks that you see in businesses throughout the state,” Beswick said.

But the concerns go deeper than that. The bill gives pro teams priority for brick-and-mortar sportsbooks.

It assigns the 30 total sportsbooks to counties based on population. If professional sports teams in Cleveland, Columbus and Cincinnati all decided to apply for licenses, casinos and racinos in Cuyahoga, Franklin and Hamilton counties would be shut out, according to the Associated Press.

“An artificial cap that locks out gaming companies in the biggest, most populous counties doesn’t make a lot of sense,” said Dan Reinhard, a senior vice president for the JACK Cleveland casino. “We know how to do this. This is the business we are in. We’re going to work with all parties to make sure this cap is dealt with.”

Casinos and racinos were excluded from the original Senate legislation and added later.

Curt Steiner, a spokesperson for the pro sports coalition, said members control one retail sportsbook “at or in close proximity to the applicable sports venue.”

Rep. Bill Seitz is less than pleased with the Senate version that would prohibit a sportsbook in a casino or racino in Hamilton County because the two licenses would go to the Reds and Bengals should they apply.

The District of Columbia had vision of sports betting revenues dancing in its collective head when the council voted to legalize such wagers in 2018.

But the reality has fallen far short of the vision.

In fact, revenue projections have been revised downwards in the wake of start-up costs, legal battles, and the coronavirus pandemic. With Virginia in play and Maryland to soon follow suit, the pressure builds to change the city’s fortunes.

The District’s Committee on Business and Economic Development budget oversight hearing June 17 said for the first three quarters of the fiscal year, revenues were around $230,000, according to WTOP.

“This fiscal year has been difficult for us because of the Covid restrictions and we’re looking forward to next fiscal year being able to significantly increase that, once we get retail-based sports wagering operational,” said Ridgely Bennett, the D.C. Lottery’s general counsel, which oversees sports betting.

With tourists and commuters returning to the city, the GambetDC app should see an increase in activity.

“Once we open retail sports wagering, you’ll be able to go to a location and pay with cash,” said Bennett, who argued that bettors prefer cash to using the verification process required to set up online mobile accounts. However, such a process has not hindered activity in New Jersey.

Bennett added that bettors prefer to stand in line at the Capital One Arena or use the William Hill app in proximity to the arena because the brand has greater recognition than GambetDC. This fiscal year, bettors have wagered $92 million through William Hill sites. GambetDC users wagered only about a third of that, despite the expansive availability compared to the arena or park.

BetMGM just launched its sportsbook at Nationals Park and vicinity, giving bettors another option.

“What we believe will happen now that the city is opening up, now that sporting events are actually occurring, you’ll see how that model will bring in a significantly greater revenue to the District than what the privately operated sports wagering will do,” said Bennett. “We’ll have to see, but that’s how the program is designed and we’re still confident in the model.”

The Arizona Department of Gaming (ADG), at a virtual meeting June 18, announced that it’s aiming for a September 9 launch of sports betting in the state and plans to finalize rules by mid-July.

ADG Director Ted Vogt promoted the idea of a group launch in September so no single operator could drag out the process. More than 90 interested parties “attended” the first of two meetings. FanDuel, which has partnered with the Phoenix Suns, asked about the use of official league data and whether in-play wagering is allowed.

The public comment period ran from June 15 to June 21. Answering criticism that the comment period was too short, Vogt said there would be a second round after the rules are updated. Most attendees indicated that they favor a “single skin per licensee” approach.

If Arizona is able to launch on schedule, it will be third out of 20 states to do so in less than five months. It differs from other states in that it will allow operators to decide if they will use official league data or not.

There was also discussion of in-play wagering and whether wagers can be voided before an event commences. The ADG was also asked to consider including credit cards on the list of permitted ways to fund an account.

The law that made sports betting possible calls for a total of 20 “event wagering operators,” with 10 set aside for professional sports franchises and 10 for gaming tribes. One question up in the air is how the ADG will determine which tribes to award those licenses to.

Ten “limited event wagering operator” licenses will be made available for OTBs and racetracks, but they will need to partner with a tribe or sports franchise to offer retail sports betting.

A poll of Massachusetts voters shows that politicians have been too slow to legalize sports betting in the Bay State.

The poll, commissioned by Plainridge Park Casino and Encore Boston Harbor, found that 61 percent of the 500 surveyed strongly or “somewhat” strongly support sports betting. Ten percent “somewhat” opposed and 14 percent strongly opposed the wagers.

Although the Massachusetts House passed a sports betting amendment almost a year ago, the Senate hasn’t spent much time talking about it, though the House has begun another set of hearings.

Both casinos have said they would like to set up sportsbooks if the bets were legal. Pollster David Paleologos issued this statement: “Massachusetts voters robustly support legalizing sports betting. This survey’s results show that sentiment is broad across all of the Commonwealth’s regions and demographic constituencies.”

The casino owners says voters want sports betting because of the expected economic benefits, reclaiming revenues that other states are now collecting from Bay State bettors, and civil liberties.

When taxes of sports betting are earmarked for K-12 education, support among the public peaks at 72 percent. According to Paleologos, spending more on education is “increasingly seen by voters as the most important public funding priority for new sources of revenue emerging from the pandemic.”

The House’s Joint Committee on Economic Development and Emerging Technologies heard five hours of testimony on June 17. Those who spoke represented casinos, sportsbook operators, simulcast facilities and professional sports teams. No one expected them to say anything new, and no one was disappointed.

Jennifer Thompson, town administrator for Plainville, where the slots parlor is based, spoke about small businesses being left in the dust by sports bettors who travel to New Hampshire and Rhode Island.

Lawmakers also heard that a “significant” number of bets placed in those two states are made by Bay Staters. Rep. Andres Vargas said he sees no reason why a resident can buy a keno ticket for $35 in his home state, but can’t put that amount on a sports team at the same location.

Those who are going to bat for mom-and-pop stores argue that they should be allowed to have sports betting kiosks. One restaurant owner told the committee: “How much more can you do to hurt us?”

But casino owners argue strenuously that they should have a monopoly on sports betting. Penn National VP of Public Affairs Jeff Morris spoke in favor of tethering sports betting licenses to casinos, such as Plainridge Park.

Currently 20 bills that would legalize sportsbooks have been filed. The first job for lawmakers is combining the best elements into one bill. Lawmakers have until the end of the year to craft a bill.

Massachusetts Gaming Commission Executive Karen Wells concedes that once a law is passed, there will be a strong push by the public to go live as soon as possible. How that law is written will strongly influence when that happens, she said.

Massachusetts-based DraftKings, seen as one of the main players in any sportsbook landscape, said it could be taking bets within weeks. Ayesha Molino, MGM Resorts’ vice president of public affairs, said MGM Springfield needs the revenue and has spent millions in anticipation of offering a sportsbook lounge. MGM projects that it could welcome 20,000 more customers during the football season.

Bally’s Corp. recently signed a multi-year agreement with Boot Hill Casino & Resort in Dodge City, Kansas to offer its Bally Bet mobile sportsbook when state lawmakers legalize sports betting.

Boot Hill Casino is operated by BHCMC LLC, a gaming management subsidiary of Butler National Corp. on behalf of the Kansas Lottery. Bally’s currently is renovating the Casino KC, formerly Isle of Capri Kansas City, in Kansas City, Missouri.

Clark Stewart, president of Butler National and CEO of Boot Hill, said, “This is an exciting time in Kansas gaming history, and as a manager for the Kansas Lottery, we are thrilled to embark on this pivotal endeavor with Bally’s. Bally’s has demonstrated impressive growth and has an outstanding operating track record. We are confident that bringing Bally’s diverse and interactive suite of online sports betting solutions to the Boot Hill Casino will significantly enhance the gaming experience for Kansas sports fans.”

Bally’s secured a media partnership late last year with Sinclair Broadcast Group, exposing its brand to viewers at 19 former Fox Sports regional networks, including Bally Sports Kansas City. Now, the new agreement with Boot Hill Casino will expand the company’s mobile sports betting platform into its 14th state. In addition, Kansas will be the third state where Bally’s will operate strictly through its online platform since Kansas does not have a land-based casino.

Bally’s CEO George Papanier said, “With the approval of pending sports betting legislation in the state, we can’t wait for Kansas sports fans to engage in our best-in-class online sports betting offerings.”

Opened in December 2009, Boot Hill Casino was the Kansas’ first state-owned and -operated casino. It offers 650 gaming machines, 16 table games and a 150-seat restaurant.

Among the co-owners of Las Vegas’ as-yet-unnamed National Lacrosse League (NLL) team are hockey giant Wayne Gretzky, Brooklyn Nets head coach Steve Nash, professional golfer Dustin Johnson and Brooklyn Nets owner Joe Tsai. Mark Fine has been named the CEO of the team

The NLL will play its home games at Michelob Ultra Arena inside the Mandalay Bay Resort and Casino beginning in the 2022-23 season. The Las Vegas franchise will be the NLL’s 15th team, reported Fox 5 Las Vegas.

The team has asked fans to help name the team with submissions at www.lasvegaslacrosse.com.

In early 2020, a sports betting platform known as SBTech merged with DraftKings. A recent report published by the Hindenburg Research group alleged that SBTech has its hands in black market illegal activities. Rather than shocking industry executives, the news elicited little more than a yawn, according to CDC Gaming Reports Jake Pollard.

The details seemed impressive enough and Pollard called it an “eye-catching” release. But do not dismiss the seriousness of the allegations nor the goal of driving down DraftKings share price. FYI: Pollard worked for SBTech for some nine months and did not have the most pleasant of experiences, he said.

In the end, shares fell 4 percent. And most industry folks supported DraftKings in this issue.

The most egregious allegations focused on SBTech’s operations in China and the Middle East. The report said several third-party resellers connected to SBTech work in those markets—where gambling is banned—which could account for half the company’s revenue.

DraftKings is knowingly benefiting from these operations, something the sportsbook giant denies.

Hindenburg said industry people wondered about DraftKings “model of aggressively burning cash on promotion and marketing to acquire customers in the near term, despite a lack of evidence of long-term customer brand loyalty.”

Truist Securities said SBTech’s business didn’t contribute enough to   DraftKings’ revenues, so risks were “more limited to reputation and market sentiment.”

The team at Jefferies said it really doesn’t matter as others do the same thing.

But the charges may curtail efforts to bring sports betting to additional states as those responsible for establishing the ground rules “could possibly feel compelled to examine digital gaming companies’ exposure to gray markets more closely going forward.”

Credit Suisse estimates that the percentage of revenue from DraftKings could be 10 percent in 2021 and 8.6 percent for 2022.

Industry analysts anticipate DraftKings will cut off many of the B2B deals it inherited from SBTech. And operators running SBTech are already discussing alternatives.

The NFL’s Chicago Bears announced the signing of an agreement with Rivers Casino Des Plaines, under which Rivers will become the official casino of the Bears, in a deal to include cross-marketing such as stadium advertising.

The team also announced a multi-year partnership with BetRivers, which will become the exclusive sportsbook of the Bears.

“We are incredibly excited to announce BetRivers and Rivers Casino as our first multi-year exclusive partner in the Sportsbook and Casino categories,” Bears President Ted Phillips said in a statement published by the Chicago Sun Times. “We look forward to connecting with our fans in fun and unique ways through these avenues, and couldn’t be prouder to be building this relationship with a hometown company.”

BetRivers and Rivers Casino will have in-stadium signage and “digital, social and print assets” as part of the deal, the Bears said in a press release.

Rivers Casino is owned by Churchill Downs Inc., which also owns Chicago’s Arlington Park Racecourse. The Bears announced that they have put in a bid to purchase the Arlington Park site in Arlington Heights, with the presumed intent of building a stadium there, reports the Sun Times.

It isn’t even July, but Jim “Mattress Mack” McIngvale has already put his money where his mouth is for his beloved Houston Astros to win the World Series. The Houston furniture store owner has more than $3 million on the line and he is just getting started.

On June 22, McIngvale bet $2 million on the Astros at 10-1 with Caesars Sportsbook by William Hill in Indiana. The bet would pay a net $20 million, making it one of the largest sports betting payoffs in U.S. history.

McIngvale also has $1 million on the Astros at 10-1 with FanDuel in Indiana, $250,000 with DraftKings and $100,000 with The Score sportsbook in Colorado, where odds are 16-1.

Here’s where the fun begins. Customers who spend at least $3,000 at his Gallery Furniture store will get their money back should the Astros win the series. Of course, the method to his madness is that McIngvale will win $35.6 million and free publicity.

As of June 22, the Astros rode a nine-game winning streak and have the best record in the American League. So, the bet is not a long shot.

“The Astros have six good pitchers and a lot of great hitters, so we’ll see what happens,” McIngvale told ESPN on Wednesday. “I thought at 16-1 and 10-1 it was definitely an overlay, so I’m in it to win it. Go Stros.”

According to Caesars Sportsbook by William Hill, 13 teams have attracted more bets to win the World Series than the Astros.

“This wager certainly makes baseball season a little more exciting for us, and we’re looking forward to seeing how that plays out,” Eric Hession, co-president of sports for Caesars Entertainment, said in a company release.

McIngvale had more than $11 million in play on the Astros to win the 2019 World Series. Houston lost to the Washington Nationals.

He lost $1 million wagering that the Houston Cougars to win the NCAA men’s basketball tournament earlier this year. But he won $2.7 million on the Tampa Bay Buccaneers knocking off the Kansas City Chiefs in the Super Bowl in February.

“I’m sure I’ll be placing more [on the Astros] as we go on to the end of the season and hopefully get to the playoffs,” McIngvale said. “I’m not done yet, but I’m about 80 or 90 percent done.”