Each week, our “What’s on Tap” series previews the week ahead in the world of sports betting. Come here for a summary of upcoming financial happenings, legislative and regulatory meetings, industry conferences, top games scheduled for the week, and much more.

A contingent of top legislators, gambling regulators, and investment analysts will converge in Upstate New York for the annual Racing and Gaming Conference At Saratoga. The conference will be held less than three miles from the Saratoga Race Course, one of the nation’s most historic thoroughbred racetracks.

Several years after the implementation of the Horse Racing Integrity and Safety Authority (HISA), the federal takeover of thoroughbred racing regulation has created a lengthy transition period. A panel on Monday will explore whether state regulatory agencies have downsized their operations as a result. There will also be panels on the impact of the unregulated gambling market, the convergence of artificial intelligence and data in online gambling, and the downstate New York casino bidding process, at the conference.

Flutter reports second-quarter earnings on Tuesday in the wake of a proposal by DraftKings to impose a surcharge on bettor winnings in four high-tax jurisdictions. Already, BetRivers has indicated that it will not charge consumers the surcharge, while PENN Entertainment claimed last week that it will not be a “first mover” in implementing the plan. A leading analyst, Truist Securities’ Barry Jonas, wrote in a research note that the proposal may hinge on whether Flutter’s FanDuel follows suit.

Also on Tuesday, Sportradar is scheduled to release second-quarter earnings. According to Zack’s Investment Research, Sportradar is expected to post earnings per share of $0.03. Sportradar, one of the world’s leading sports betting data providers, will report quarterly results several days after Endeavor announced plans to seek a buyer for OpenBet.

Last week, California bookmaker Matt Bowyer pleaded guilty in federal court to charges of operating an illegal gambling business, transactional money laundering, and filing a false tax return. Described by sources as one of the nation’s largest illegal bookies, Bowyer is known mostly for allegedly operating a sophisticated ring that accepted millions in wagers from the former interpreter of Shohei Ohtani.

The Aug. 9 hearing took place several months after former MGM Grand President Scott Sibella was sentenced to probation in connection with his failure to file a suspicious transaction report, pursuant to the Bank Secrecy Act. The charge is related to Sibella’s association with Wayne Nix, a former minor league pitcher and illegal bookmaker. While an attorney for Sibella claimed that his client had no involvement in the bookmaking activities of Bowyer, a source told Sports Handle in April that an agent of Bowyer placed wagers with Nix’s operation.

14. Defendant SIBELLA received trainings on the AML Compliance Policy in at least 2010 and 2014. Defendant SIBELLA knew of the reporting requirements and the duty of someone in his position to report suspicious activity. Also, when he was interviewed by law enforcement on January 10, 2022, defendant SIBELLA admitted that he believed Nix was involved in illegal sports bookmaking. Specifically, defendant SIBELLA admitted that he had “heard that Nix was in the booking business” and he “couldn’t figure out how he had all the money he gambled with.”

Defendant SIBELLA further admitted “I didn’t want to know because of my position, . . . in this business, they [bookies] are a dime a dozen. . . I stay out of it. If we know, we can’t allow them to gamble. . . I didn’t ask, I didn’t want to know I guess because he wasn’t doing anything to cheat the casino.”

–USA v. Sibella, plea agreement, P. 25, Dec. 27, 2023

In addition, the MGM Grand and The Cosmopolitan of Las Vegas entered into settlements with the Justice Department that require them to pay a combined $7.45 million, undergo external review, and enhance their anti-money laundering (AML) compliance program.

On Tuesday, Assistant U.S. Attorney Jeff Mitchell is scheduled to give a presentation at the 2024 BSA/AML Gaming Conference in Las Vegas. Mitchell, a lead prosecutor in the Sibella matter, has served on the prosecution team for several cases in the sweeping investigation into the Southern California illegal sports betting market.

According to the conference agenda, Mitchell’s session “will provide a deep dive into the intricacies of these cases, highlighting the stipulated revisions to MGM’s anti-money laundering program as part of the settlement agreement with the casino.”

Besides the Justice Department, the FBI, IRS Criminal Investigations, and the U.S. Department of Homeland Security have played a role in the multi-jurisdictional investigation. Each agency will have a presence at the event, with several others on the investigation set to appear. Mitchell is scheduled to deliver the speech before an invitation-only audience at Caesars Palace. The event is closed to the media.

Fresh off a gold medal at the Paris Games, Scottie Scheffler enters this week’s St. Jude Classic as the leader in the FedEx Cup playoff standings. During the PGA Tour regular season, Scheffler and compatriot Xander Schauffele practically lapped the field. As of Sunday evening, Scheffler had 5,992 points nearly 2,000 more than Schauffele, the PGA Championship and British Open winner. But Schauffele was more than 1,500 points clear of Rory McIlroy, the next closest in the standings.

Scheffler has odds of 10/11 to win the season-end Tour Championship, ahead of Schauffele at 5/2. The St. Jude Classic is the first of three events in the FedEx Cup playoffs. Scheffler has led the standings in each of the last two years heading into the Tour Championship. McIlroy enters the St. Jude Classic as the third choice to win the FedEx Cup, with odds of 8/1.

A who’s who of athletes, celebrities, and sports executives are scheduled to appear at the three-day FanaticsFest, beginning on Friday. According to the event website, two league commissioners, the NBA’s Adam Silver and the NFL’s Roger Goodell, are scheduled to attend.

Among athletes, Peyton Manning, Eli Manning, and Kevin Garnett are also on the attendee list. While dozens of athletes are expected to participate, those three are notable in that each has served as a brand ambassador for a major sportsbook. Over the last 18 months, all four of the top North American sports leagues have dealt with a player-betting scandal.

Caleb Williams recorded a QB rating of 101.8 in limited action vs. the Bills, prompting teammate D.J. Moore to describe his preseason debut as “outstanding.” Overall, Williams finished 4-of-7 for 95 yards in the Bears’ 33-6 win against Buffalo.

Williams, the No. 1 overall pick in the 2024 NFL Draft, is expected to receive more snaps in Saturday’s matchup against the Bengals.

PA Boot levels. QB's read is low to high (1, 2 then 3) with the deep route (3) the “alert,” meaning the quarterback will check pre-snap if the route could be open and might move it up in the progression

Bills have a single high safety… pic.twitter.com/BiuDC2PgkX

— Chicago Football Connection (@CFCBears) August 12, 2024

Three other heralded rookies are expected to see significant action at quarterback in the second week of the preseason. After tossing two touchdowns against the Raiders, J.J. McCarthy will face a formidable Browns’ defense in Cleveland. Also on Saturday, Jayden Daniels and the Commanders will take on the Dolphins in South Florida.

Williams still remains the overwhelming favorite for Rookie of the Year. As of Monday, Williams had odds of +135 at BetRivers to take home the hardware. For now, he is the only rookie with odds below +500. Daniels is the second choice at +600, while McCarthy has steeper odds at +1500.