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Best of Dan Ippolito

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Casino City’s Friday Five: Sportsbooks and merger edition

4 October 2019

This week was full of major stories with massive implications. On Wednesday, the world’s largest online betting group was created after two companies announced a massive merger. On top of that, we have two sports betting stories taking over the headlines, a major jackpot win and the placement of a $3.5 million sports bet.

Let’s begin with a potential win of over $11 million.

5. $3.5 million sports bet accepted at Scarlet Pearl Casino Resort
You don’t often see someone placing a multimillion-dollar wager on a sports bet, if ever.

But on Tuesday, Jim “Mattress Mack” McIngvale went into the sportsbook at Scarlet Pearl Casino Resort and placed a $3.5 million bet on the Houston Astros to win the 2019 World Series.

Jim is placing the bet because he owns Gallery Furniture stores that would lose millions if the Astros win it all. Customers at his stores would be refunded for purchases over $3,000 if the Astros are crowned as champions. Based on the offer his stores are giving, he could lose around $15 million if they win, so his $3.5 million bet is solely to hedge.

If his bet hits, McIngvale will collect $11.2 million total. By placing a $3.5 million wager, McIngvale set the record for the largest single bet placed in Mississippi sportsbook history.

“We have made sports betting history here today,” said Scarlet Pearl CEO LuAnn Pappas. “This is the business we’re in, and we’re honored that we were chosen for this wager. Providing an unparalleled customer experience is the driving force behind everything we do at Scarlet Pearl.”

4. $5.9 million jackpot win on Mega Moolah
Even though we could see $11.2 million being won from baseball, winning $5.9 million on a slot machine is nothing to turn away from.

A JackpotCity Casino player was playing the Mega Moolah slot when they won a life-changing amount of money.

Placing 25 bets of $5 each, the player was on the game for 94 minutes before $5.9 million was awarded.

This marks the seventh jackpot payout of the year from Mega Moolah – with over $53 million already being claimed by lucky players worldwide in 2019 so far.

3. William Hill to open sportsbook in Washington DC sports arena
Partnering with Monumental Sports & Entertainment, William Hill U.S. will create the first sportsbook at a U.S. professional sports venue at Capital One Arena.

“Monumental is dedicated to bringing the latest technology and innovation into our arena and delivering extraordinary experiences to our fans. We are excited to partner with William Hill, the industry leader in sports betting, to become the first professional sports arena in the U.S. to feature a sportsbook,” said Ted Leonsis, chairman, founder, principal partner and CEO, Monumental Sports & Entertainment.

The multi-floor sportsbook will be opened daily to the public. During events and games at the arena, ticketed and non-ticketed fans will all have access to the book.

“This sportsbook will be a flagship venue for the industry and will serve the sports fans of the Washington D.C. area unlike any other,” said Joe Asher, CEO of William Hill US.

2. DraftKings Sportsbook now live in Indiana
Yesterday, DraftKings debuted its mobile and online sportsbook in Indiana.

The Hoosier State becomes the third U.S. state to gain access to the features offered by DraftKings’ digital sportsbook product.

“DraftKings could not be more thrilled to expand our national reach as states continue to open the market for legalized sports betting,” said Matt Kalish, co-founder and Chief Revenue Officer at DraftKings.

Indiana fans will now have the opportunity to remotely place wagers on their favorite professional and collegiate teams.

1. Flutter Entertainment and The Stars Group announce massive merger
Flutter Entertainment, the parent company of FanDuel and Paddy Power Betfair, will combine forces with the online poker giant to create the world's largest online betting group.

The Combined Group’s annual revenue would have been £3.8 billion in 2018, making it the largest online betting and gaming operator globally.

The partnership will be incorporated, headquartered and domiciled in Dublin, Ireland, with a premium listing on the London Stock Exchange and a secondary listing on Euronext Dublin.

"This is an exciting and transformational combination that will bring together two strong, complementary businesses to create a global leader in the fast-growing online sports betting and gaming industry,” said Gary McGann, Chair of Flutter.

“The combination with Flutter will further enhance our company's core strengths, and position us strongly for the future in this rapidly evolving industry. I'm delighted to be joining the Board of the Combined Group and to serve as its COO,” said Rafi Ashkenazi, CEO of TSG.
Casino City’s Friday Five: Sportsbooks and merger edition is republished from Online.CasinoCity.com.
Dan Ippolito

As Casino City's associate editor, Dan produces and edits all of our weekly newsletters, and writes about the gaming industry for our websites and the GPWA Times Magazine. Dan graduated from Marist College in 2017 with a degree in Communications and a concentration in Sports. Email him at daniel@casinocity.com, or follow him at @casinocity_dan on Twitter.
Dan Ippolito
As Casino City's associate editor, Dan produces and edits all of our weekly newsletters, and writes about the gaming industry for our websites and the GPWA Times Magazine. Dan graduated from Marist College in 2017 with a degree in Communications and a concentration in Sports. Email him at daniel@casinocity.com, or follow him at @casinocity_dan on Twitter.