In a look back at the biggest sports betting topics of the week, the highly anticipated launch of ESPN Bet continues to be a big topic ahead of a November release.
Here's a look at the top stories and bets and how some of the major sports are shaping up for bettors.
ESPN Bet: ESPN Bet, an upcoming launch from PENN Entertainment PENN in a partnership with The Walt Disney Company DIS, continues to make headlines.
After showing off its new logo and color scheme, one existing betting company is calling foul. Action Network shared that social sports betting site BroThrow said the logo is too close to its own.
"The problem is it's not like we are a single hardware store in Iowa," BroThrow CEO Brady Sharp said. "We're in the same category."
Both logos feature a "B" logo with a similar mint green color.
Attorney Darren Heitner told Action Network that while BroThrow didn't file with the U.S. Patent & Trademark Office, it has been using the logo for at least two years, which is long enough for common law protection.
Action Network recently heard more on the rollout of ESPN Bet and the partnership with Penn Entertainment.
"We will have a unified approach to ESPN BET branding that will cascade across all ESPN platforms," ESPN Vice President of Sports Betting Mike Morrison told Action Network.
Morrison said ESPN is working through employee guidelines for usage of the betting platform. He added that Penn Entertainment will have access to public information and will not get access to ESPN's internal system.
Related Link: 2023-2024 NBA Season Preview: 5 Key Storylines
World Series to Wrap Up MLB Season: The World Series match-up is set for Major League Baseball, with two unlikely teams reaching the championship best-of-seven series. The Arizona Diamondbacks and Texas Rangers face off in a battle of two teams with poor odds to win the World Series at the start of the season.
As recently shared by Benzinga, the Diamondbacks are the third-biggest underdog to make the World Series since 1985 based on betting data from Action Network. If the Diamondbacks win the series, they would be the biggest underdog in at least 18 years to do so. The Rangers also rank among the 10 biggest underdogs since 1985.
The Diamondbacks have been an underdog in each of their 2023 postseason series and enter the series against the Rangers listed at odds of +145 at DraftKings Inc DKNG.
Benzinga shared that one bettor correctly predicted the World Series matchup of the Diamondbacks and Rangers, turning a $25 bet into a profit of $4,750.
A bettor at FanDuel, a unit of Flutter Entertainment PDYPY, placed a $10,000 wager on the Diamondbacks to win the World Series on the last day of the MLB regular season. The payout if the Diamondbacks win is over $1 million, according to the New York Post.
Big Boxing Bout: A highly anticipated boxing match takes place on Saturday, Oct. 28. The match will see undefeated WBC Heavyweight Champion Tyson Fury, who has a 33-0-1 record, take on former UFC Heavyweight Champion Francis Ngannou.
Ngannou had a 17-3 record in UFC and this marks his professional boxing debut in a fight that can be purchased for ESPN+ pay-per-view.
Fury is a huge favorite at sportsbooks with odds of -1400 compared to +750 for Ngannou. If Ngannou can find a way to beat the champion, a $100 bet would pay out a profit of $700.
More Athletes Suspended: In the era of legalized sports betting in many states, sports leagues are still working on the right disciplinary actions for players who bet on sports. The National Hockey League announced a 41-game suspension for Shane Pinto, a 22-year-old unrestricted free agent of the Ottawa Senators.
Pinto, who was a 2019 first round draft pick, becomes the first modern-day NHL player suspended for sports betting. Despite not having a contract, Pinto's suspension will begin now. Pinto apologized for his actions and will not appeal the ruling, according to the Associated Press.
The suspension was for "activities relating to sports wagering" with no evidence that he bet on NHL games.
A post on Twitter quickly went viral highlighting the paradox of a player being suspended for gambling while being "forced to wear a gambling ad on your own helmet every night." The Senators were the first team to have a helmet sponsor with a gambling company in 2021 with Bet99. The team's home helmets now have the logo of Betway, a unit of Super Group SGHC.
The suspension follows recent announcements against NFL players and several other sports leagues.
McCaffrey Record: San Francisco 49ers running back Christian McCaffrey has been money for bettors who play the popular anytime touchdown wager on the star. During the team's Monday Night Football loss to the Minnesota Vikings game, McCaffrey made NFL history with 16 straight games (regular season and playoffs) with a rushing or receiving touchdown.
DraftKings shared that a bettor who wagered $10 on McCaffrey to score a touchdown at the beginning of his streak and kept betting it on the next game would have made over $48,000 to date.
McCaffrey will likely be a popular bet in the 49ers next game, Sunday against the Cincinnati Bengals. A McCaffrey anytime touchdown is listed with odds of -225, paying out a potential profit of $44.44 on a $100 bet.
Florida Update: Last week, Benzinga shared that the state of Florida is in the middle of a battle over sports betting regulation.
On Wednesday, the U.S. Supreme Court denied a sports betting stay in the state of Florida, as reported by Legal Sports Report. Under the ruling, the Seminole Tribe of Florida could reconsider the launch of the Hard Rock Bet app, the only approved online sports betting platform.
The case is likely far from over.
NFL Update: The NFL season is nearing the halfway point, with Week 8 here. The league has no undefeated teams left, with the Kansas City Chiefs and Philadelphia Eagles tied with the best records of 6-1. The Chiefs rank first for Super Bowl LVIII betting odds at +450 and the Eagles rank third at +600. The 5-2 49ers come in second at odds of +475.
While the Chiefs and the Eagles have the best records, the Detroit Lions, Miami Dolphins, Jacksonville Jaguars, Baltimore Ravens, and Chiefs top the league in records against-the-spread at 5-2, according to data from Covers.
Read Next: Bedard Breaks NHL Viewer Records, Could Calder Trophy (Rookie Of The Year) Be Next?
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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