"Other people's poor decisions are not going to affect you in the long run," he said.

Needless to say, a lot more goes into RAS bets than emoji translations. RAS handicappers are quick to spot -- and evaluate -- impactful news items, although Edward says these days information regularly appears to hit the betting market before it lands on Twitter. But social media remains a valuable tool for RAS, just not in the way one might think.

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Awareness of legalized sports betting varies by demographic group. Men are far more likely than women to say they have read or heard at least a little about it (69% vs. 44%). Americans ages 50 and older, those with a college degree and those in upper-income households are also among the groups who are more likely to have read or heard about it.

Liquidity has been an issue for Bally¡¯s: in its Q3 2022 earnings statement, the company reported $3.4B in debt and only $165M in cash on hand. The transaction with Oak Street is the third sale-leaseback deal for Bally¡¯s this year.


Local radio is also benefiting from sportsbooks seasonal ad spending strategy. According to Inside Radio, after a lull of several months in marketing activity, for the week of September 5 (which coincided with the start of the 2022 NFL season) three sportsbook companies ranked among the top 100 advertisers. DraftKings led, ranking ninth among all advertisers with 28,945 AM/FM spot occurrences, the most radio ads run by a sportsbook advertiser in any week. FanDuel ran 11,268 ads ranking 52nd and Caesars Sportsbook aired 6,766 messages ranking #86. BIA recently increased its radio ad spend forecast for sportsbooks from $150 million to $164 million for the year.

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