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New York Generates Massive Tax Revenue In One Day Of Mobile Betting

“Ryan Butler of Wagers.com reports that New York generated more mobile wagers than any other market ever has on its first day of legalization.”

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We learned two things on Monday. First, New Yorkers were ready to bet. Second, they didn’t want to leave their homes to do it.

Four mobile sportsbooks began operating on Saturday, and while we are waiting on the official numbers, Ryan Butler of Wagers.com reports that New York generated more mobile wagers than any other market ever on its first day of legalization.

The tax revenue generated by the state is even more impressive. All mobile sportsbooks operating within the state will be subject to a 51% tax on their profits. In two-and-a-half years of legalized retail betting, the state has generated $3.7 million in tax revenue. It is projected that the tax revenue generated by mobile betting in a single day beat that number.

California may be the only state with the population to justify implementing a tax as large as New York’s on sportsbooks. Still, plenty of states where mobile betting has not yet been legalized will have their eyes on what has happened in the Empire State.

BetRivers, Caesars, DraftKings, and FanDuel all launched over the weekend. The former reported that just under $1 million was wagered on its platform on day one. Butler says that is very good news for the other three books.

There are even more options to come. Nine sportsbooks were given a license to operate in New York. The New York Gaming Commission says BallyBet, BetMGM, PointsBet, Resorts World and WynnBet will beging operating on a “rolling basis,” but did not specify when that may begin.

You can bet after seeing the action and revenue generated on day 1, the books and the state are probably a little more impatient for that day to arrive.

Sports Radio News

Mark Chernoff: ‘I Didn’t Believe Mad Dog Was Going To Leave WFAN’

“I wish they hadn’t separated, because it was the most amazing team.”

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Mark Chernoff offered some great stories and insight on the latest episode of The Jason Barrett Podcast. The former program director of WFAN in New York began his appearance by paying tribute to the station’s three soon-to-be Hall of Famers.

He reflected on Jeff Smulyan’s vision in creating sports radio, Suzyn Waldman’s gravitas and versatility as a reporter and talent, and all of the success he shared with Christopher “Mad Dog” Russo.

Russo and his long time radio partner Mike Francesa split up in 2008 after Russo left WFAN for Sirius. Chernoff admitted that even as he was told it was about to happen, he still didn’t believe it.

“You know, I misread a little bit the situation with Mike and Chris,” he admitted. “Mike said ‘Dog’s gonna leave. I know he’s gonna leave.’ He even intimated that he had spoken to Mel [Karmazin, the then-CEO of Sirius], not Mike but Chris, and it was likely he was going to go over to Sirius. And I just couldn’t believe it.”

Mike and the Mad Dog is as dominant a show as local sports radio has ever produced. The duo was together from 1989 until 2008. When they split up, Mark Chernoff says that he took it personally.

“I was sad for a really long time. I was angry too.”

The move hurt his relationship with Russo for a while. The two did not speak for a long time.

He told Barrett that that is over now. They share occasional texts and always hug and catch up when they see each other. That doesn’t mean that there isn’t still some lingering disappointment.

“I wish they hadn’t separated, because it was the most amazing team,” Chernoff said of Mike & the Mad Dog. “But both [Chris] and Mike were certainly successful on their own.”

New episodes of The Jason Barrett Podcast are released each Tuesday morning.

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Sports Radio News

Eli Gold To Miss Start of Alabama Football Season

He’s faced his share of health challenges recently. His streak of 409 consecutive Alabama football games was broken in 2020 after a COVID diagnosis.

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Legendary Alabama play-by-play announcer Eli Gold will miss the beginning of the 2022 football season with health issues.

Jim Carabin, Vice President and General Manager of Crimson Tide Sports Marketing announced the news Wednesday. The school did not elaborate on Gold’s ailment, only saying he would be sidelined to begin the season.

Chris Stewart, who handles play-by-play duties for Alabama’s basketball and baseball teams will fill in during Gold’s absence. Stewart will also host The Nick Saban Show and Hey, Coach until Gold returns.

The 68-year-old Gold is a 2014 inductee to the Alabama Sports Hall of Fame. Gold, who’s contract runs through the 2023 season, has been the Voice of the Crimson Tide since the 1988 season.

He’s faced his share of health challenges recently. His streak of 409 consecutive Alabama football games was broken in 2020 after a COVID diagnosis. Gold also had both shoulders replaced that same year.

In addition to his work with the Crimson Tide, Gold has served as an announcer for NASCAR, NFL, NHL, and the NBA G-League, among others.

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Sports Radio News

Andrew Marchand: Mad Dog Has Surpassed Mike Francesa

“Russo, you could probably make the argument, he’s the best sports talk show host of all time. And the reason is he’s missing a screw.”

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Chris “Mad Dog” Russo has been in the limelight recently after the announcement he’ll be inducted into the Radio Hall of Fame later this year, and on the latest edition of the Marchand and Ourand Podcast, Andrew Marchand said Russo might have surpassed his former co-host in the annals of sports radio history.

“I feel like when you look at Russo and Francesa, Russo has surpassed Francesa,” The New York Post sports media columnist surmised. “He’s kinda Tom Brady’d to Peyton Manning of Francesa. They had their legendary, iconic, run in New York. They came up at the right time when sports radio exploded. They had tremendous chemistry and it was a great show. And so they’ll always have that, and that’s what they’ll always be most known for.”

While Francesa has bounced back and forth between retiring and hosting a show on WFAN, his digital show Mike’s On, and The Mike Francesa Podcast, Russo has hosted his afternoon show on his SiriusXM channel Mad Dog Radio. He also started a weekly appearance on ESPN’s First Take, and that, according to Marchand has put Russo past Francesa.

“A new generation is seeing Russo at work with Stephen A. (Smith). Russo, you could probably make the argument, he’s the best sports talk show host of all time. And the reason is he’s missing a screw. But for sports radio hosts, it’s a good screw to be missing,” Marchand joked.

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