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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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The Dan Le Batard Show With Stugotz Moving To New Studio

The show continued to be recorded inside the studio at the Clevelander after it departed ESPN Radio’s national lineup in 2021.

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Dan Le Batard Show

The Dan Le Batard Show with Stugotz is leaving its home at the Clevelander hotel on South Beach in Miami and moving into a new studio next year, according to a report from The Big Lead.

The show continued to be recorded inside the studio at the Clevelander after it departed ESPN Radio’s national lineup in 2021. It has remained the home for the show since Le Batard and John Skipper formed Meadowlark Media.

After a $50 million distribution deal with DraftKings was secured, the Meadowlark podcast network has grown in both reach and talent, allowing for an expanded studio space.

No immediate details were given on where the new studio space would be located.

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NSMA Announces Finalists for Awards, Hall of Fame

Final voting for the statewide and national awards, as well as for the Hall of Fame, will take place throughout this month, and the winners and inductees will be announced on January 9.

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The National Sports Media Association revealed its finalists for its national sportscaster of the year and national sportswriter of the year, and there are plenty of heavy hitters in the industry up for consideration for the NSMA awards.

Among the nominees for National Sportscaster of the Year include Al Michaels, Ian Eagle, Jim Nantz, Joe Buck, Kevin Harlan, and Mike Tirico. The full list includes Adam Amin, Jason Benetti, Joe Davis, and Mina Kimes.

For National Sportswriter of the Year, Adrian Wojnarowski, Ken Rosenthal, Nicole Auerbach, Pete Thamel, Pat Forde and Tom Verducci are among the biggest names. Candace Buckner, Katie Strang, Marc Spears and Wright Thomson round out the list of nominees.

The NMSA also revealed its finalists for the sportscaster and sportswriter Hall of Fame. James Brown, Joe Buck, Lee Corso and Tim McCarver are part of the sportscaster list, while Bill Plaschke and Ray Didinger appear among the names for the sportswriter hall of fame.

Final voting for the statewide and national awards, as well as for the Hall of Fame, will take place throughout this month, and the winners and inductees will be announced on January 9.

Winners and Hall of Famers will be honored at the NSMA Awards Weekend & National Convention held in Winston-Salem, N.C. June 24-26.

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Pat McAfee: Mentioning Brett Favre Scandal Is A Must

“We have to make sure that it’s mentioned every time that man is mentioned because that is a big deal that it happened.”

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While things may have quieted down a little bit with Brett Favre and his scandal involving misuse of public funds in Mississippi, Pat McAfee is going to make sure people don’t forget what the hall of fame quarterback is accused of.

On his show on Wednesday, McAfee said he thought of a way to mention the situation during Aaron Rodgers’ weekly appearance the day before. Rodgers in conversation talked about learning under Favre in the first years of his NFL career in Green Bay.

“My brain was literally like we’re in the holiday season. Brett Favre – what did he do,” McAfee said. “He didn’t just steal from the poor. Oh, he is the actual Sticky Finger Bandits from Home Alone 2: Lost in New York.”

Pat added that whenever the name Brett Favre is brought up on his show, it is absolutely necessary to remind folks about the scandal.

“We have to make sure that it’s mentioned every time that man is mentioned because that is a big deal that it happened,” he said. “Now obviously Brett Favre Enterprises is alleging that this is all wrong. And I can’t wait to hear BFE to drop Brett Favre Enterprises’ side of the story. And we will judge it accordingly.”

“Even though as a football player, he was an incredibly tough football player, good football player, did a lot of things,” McAfee added. “Certainly in the middle of stealing from poor people in Mississippi right now. Have to chat about that.”

Favre is yet to be charged with any crimes, but the state is currently investigating the matter. Early in the fall, Favre’s weekly appearances on local and national radio shows were halted in light of the initial fallout from the story.

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