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Sports Betting Stock Prices Begin To Drop

“No one doubts that there is still massive growth potential for mobile sports betting. In order to reach that potential though, the companies have to show some profit.”

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More people are using sportsbook apps than ever before. Just look at the latest news out of New York. That doesn’t mean that those businesses are printing money right now. in fact, according to Axios, the opposite is true.

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The site reports that many of the top mobile sportsbook operators have seen their stocks take a major hit as the industry reevaluates how it does business. Previously, sportsbooks spent major money on advertising and offered incentives to open accounts that included promotional bets that didn’t require players to use their own money. It was a cost the books were willing to eat as they focused on customer acquisition.

During that time, the stock prices of sports gaming operators Penn National and DraftKings were outperforming the S&P 500.

In recent months, a spotlight has been shined on just how much that is eating into potential profits. As a result, the industry is shifting to a focus on customers’ lifetime value. According to Axios, that means a lot of the advertising money is drying up.

Last month, Caesars CEO Tom Reeg said that ads for his company’s sportsbook app will “largely disappear from screens”. The comments were met favorably and the price for Caesars rose 6%.

It should be noted that several industry analysts think unsustainable inflation is coming for some of these companies. March Madness is expected to drive the use of apps and investment in sportsbooks over the months of March and April.

No one doubts that there is still massive growth potential for mobile sports betting. In order to reach that potential though, the companies have to show some profit. That means cutting costs, and it seems like advertising and promotions are the first areas to take hits.

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John Skipper: Media Has Not Treated Adam Silver Like He’s Teflon

“I don’t think anyone has hesitated to criticize him when he has done things that are controversial or difficult. Certainly, our friends at FOX News have not provided him with a Teflon coating.”

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Dan Le Batard hosted an interesting conversation on his Thursday show examining the performance of NBA commissioner Adam Silver during the press conference in which he announced the suspension of Suns owner Robert Sarver. David Samson and John Skipper joined Le Batard in the discussion.

Samson, former president of Major League Baseball’s Miami Marlins, said of Silver “it’s amazing the level of Teflon he’s had, and I don’t know that it’s deserved in any way.” He added that the NBA commissioner’s performance was “not very well workshopped” when addressing the media.

John Skipper, co-founder of Meadowlark Media, acknowledged that the performance was not strong. He said that it was clear that Adam Silver was frustrated by the limitations his job put on what he could do about someone behaving in a way that he did not think was appropriate for the NBA. He did pushback on the idea that Silver had been immune from criticism.

“I’m not sure that I accept that he’s Teflon-like,” Skipper said. “He’s actually made most of the right decisions and done most of the right things and he’s gotten credit for that. I don’t think anyone has hesitated to criticize him when he has done things that are controversial or difficult. Certainly, our friends at FOX News have not provided him with a Teflon coating.”

Samson smiled during the answer, which Skipper addressed by acknowledging that Samson knows that Skipper is friends with Adam Silver. The Meadowlark boss called himself an “apologist” for Silver, but added

“I mostly think he’s done a fabulous job. If you want to hold up what commissioner has done most of the right things in the last seven or eight years, he’s not Teflon-coated, but he has a tremendous track record, which I think deserves our support.”

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Chris Long Tells Jim Rome He’s Gambled on Games to Keep Him Interested For His Podcast

“So you’re like alright I need to do my job tonight, and I’m tired I want to go to bed, but maybe I’ll just throw a couple hundred bucks on the Jaguars,” Long said. “And now I’m invested…”

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Placing bets on NFL games adds a whole other layer to the NFL viewing experience, and Super Bowl champion Chris Long understands that.

Long, who is not that far removed from his playing days in the league, was a guest on The Jim Rome Podcast, and said he initially considered gambling on football as something to compete at after retiring.

But now that he’s had some time to better learn the ins and outs of wagering, he’s become wiser and better informed. It’s helped him when talking about gambling on his own podcast, Green Light with Chris Long.

“I want to be responsible and give out good picks,” Long said. “I don’t want to just throw stuff out there because I’m getting paid by a casino. I’m really interested in the artform of gambling if that makes any sense.”

Long added that having that wagering itch definitely keeps him enthralled in watching football all day like a lot of other NFL fans, even those games people generally think won’t be that good competitively ahead of time.

He said it’s definitely helped with his show.

“I’m not even gonna lie, dude, sometimes you get burned out by football, right? I played it for a long time, now I’m covering it. So you’re like alright I need to do my job tonight, and I’m tired I want to go to bed, but maybe I’ll just throw a couple hundred bucks on the Jaguars,” Long said. “And now I’m invested and I can do my job more effectively because I’m gonna be glued to the TV. So like in a weird way it’s held me a little bit more accountable when it comes to staying on my game.”

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Shams Charania Signs New Contracts to Remain with Stadium and The Athletic

Shams joined those outlets in 2018 and had agreed to two other deals with them in that span.

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After speculation over his future, NBA insider Shams Charania is not going somewhere new.

Andrew Marchand of the New York Post reported Wednesday night that Charania has signed new contracts to remain at Stadium/Bally Sports and The Athletic.

Shams joined those outlets in 2018 and had agreed to two other deals with them in that span.

Shams has been an integral piece in the growth and evolution of Stadium, elevating our content across both digital media and television experiences,” said Stadium CEO Jason Coyle. “He is one of the finest professionals and people in our industry, and we are truly excited to continue building upon our longstanding and trusted relationship.”

Charania, 28, is an integral part of Stadium/Bally Sports NBA coverage. He makes regular appearances on the Sinclair-owned networks on shows like Inside the Association and The Rally.

Shams has not yet addressed the news on his Twitter account, which has 1.8 million followers.

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