May 29, 2024 – Bookielink

May 29, 2024

Fanatics goes live in Wyoming

On Wednesday (29 May) Fanatics Sportsbook became the fifth operator to launch in the smallest US state. Fanatics is now live in 21 states.

Fanatics, which purchased PointsBet’s US assets last summer, went from being live nowhere in the US in January 2023 to now being in 21 states. The deal gave Fanatics access to 20 US markets.

The company most recently launched sports betting and online gambling platforms in New Jersey in May. That launch marked the completion of the PointsBet deal.

Fanatics first launched in four states in beta mode in August 2023. From there, the company has launched across the US, including in Arizona, Illinois, New York and North Carolina.

BetMGM, Caesars Sportsbook, DraftKings and FanDuel are all live in the state. Lawmakers in Wyoming legalised digital sports betting in April 2021 and the Wyoming Gaming Commission launched two operators on 1 September 2021, ahead of the NFL season.

Fanatics Sportsbook cross markets

According to a Fanatics press release..

May 29, 2024

The “Caitlin Clark Effect” goes beyond the basketball court

Few athletes have the ability to captivate a sport and send its popularity soaring almost on their own, but basketball player Caitlin Clark certainly appears to be one of them.

Clark’s meteoric rise is sending ripples beyond the basketball court. In early April, she played her last college basketball game and retired with the highest points total in men’s and women’s National Collegiate Athletic Association (NCAA) history. Her Iowa Hawkeyes got to back-to-back national championship games after having previously reaching the final only once in programme history.

Eight days later, she was the WNBA’s number one pick. She has played five games for the Indiana Fever and has already made quite a splash in the professional game. The fans’ desire to see her play is evident.

Both of the Fever’s home games were played in front of sold-out Gainbridge Fieldhouse crowds. Additionally, the Fever’s road game at the Connecticut Suns was the first sell-out home opener since 2003. Their trips to the..

May 29, 2024

US round-up: Arizona grows in March, Rhode Island April betting revenue dips

Casting an eye over the latest monthly US state results, iGB analyses growth in the Arizona sports betting market in March and a decline in revenue despite steady spending in Rhode Island during April.

Arizona reported year-on-year growth across revenue and handle in March. However, Rhode Island saw revenue slip to an eight-month low in April.

Starting with Arizona, which reports its monthly results at a delayed rate compared to other states. All other US states are currently publishing results for April, whereas Arizona has just released an update for March.

During March, player spending amounted to $759.8m (£595.7m/€700.3m). This is 17.8% up from $644.8m in the same month last year. It is also 19.2% ahead of $637.5m in February of this year.

Players wagered a total of $752.4m online and $5.3m at retail sportsbooks. A further $2.1m was bet through limited event wagering (LEW) operators in Arizona.

In terms of revenue, gross event wagering before the impact of free bets hit $57.5..

May 29, 2024

DraftKings and Flutter stock falls on proposed Illinois tax hike

DraftKings and Flutter Entertainment – owner of FanDuel Group – both saw their stock price decline yesterday (28 May) as the US market reacted negatively to a proposed gambling tax hike in Illinois.

Illinois lawmakers discussed the increase during a 2025 budget meeting over the weekend. While plans are yet to be approved, the potential rise has already hit leading operators including DraftKings and Flutter.

The current proposal on the table is for a graduated wagering tax structure to replace the existing 15% flat rate. This would set rates at between 20% and 40%, depending on each operator’s adjusted gaming revenue (AGR).

Licensed operators with generated AGR of $30m (£23.5m/€27.6m) a year would pay tax at 20%. However, if an operator reports more than $200m, they would face a 40% rate – some 167% more than at present. This would be the second-highest tax rate in the US behind New York at 51%.

Other boundaries include a 25% rate for AGR between $30m and $50m, 30% for AGR ranging ..

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