June 18, 2024 – Bookielink

June 18, 2024

FanDuel: We’ll exit lottery contract if DC Council approves open marketplace

FanDuel would opt for a lower tax rate and walk away from its lottery contract in Washington, DC if the DC Council approves an open marketplace. President Christian Genetski wrote a letter earlier this month to DC Council chairman Phil Mendelson explaining his company's stance.

The DC Office of Lottery and Gaming (OLG) in March revealed that Intralot, the company that ran the GamBetDC platform, planned to take down the platform and subcontract with FanDuel. The news came as a surprise to the DC Council at that time. But bettors welcomed the change.

GamBetDC was fraught with usability errors and other issues from its May 2020 launch. In four years as the only mobile platform available throughout the city, GamBetDC underperformed. In that time, the District netted $4.3m in tax revenue from it.

OLG operators are taxed at 40%. In an open market, under the proposed amended law, operators would be taxed at 20%. FanDuel paid the city $1.9m in tax revenue in its first 30 days of ope..

June 18, 2024

Ohio regulator on track to change advertising, integrity monitoring rules

On Tuesday (18 June) morning the Ohio Casino Control Commission (OCCC) continued to refine its rules, approving a change to its advertising and promotional rules and expanding the scope of what integrity monitors may do. At about the same time, Michigan regulators said they weren't “trying to shut down” amusement businesses.

Both of Ohio’s amended rules must still go through the state’s Common-Sense Initiative office and the legislative Joint Committee on Agency Rule Review. The proposals would go before the OCCC again later this year before final approval.

In Ohio, which already has some of the most stringent advertising and marketing rules, the OCCC voted to ban gambling companies from offering promotions as part of a “non-gaming, consumer transaction”. The prohibition would apply to consumers under the age of 21, the legal age for gambling.

This would mean, for example, that a company like Fanatics Sportsbook could not offer promotions to a high-school aged customer buyin..

June 18, 2024

How the sector is tackling competition this sporting summer

A packed sporting schedule means there are plenty of opportunities for gambling companies this summer to engage and target new customers. iGB spoke to a few industry leaders on targeting new betting markets and unique products helping them to stand out from the crowd.

Operators Betfred and Paddy Power and betting engine supplier Kambi are among those looking to capitalise and make significant revenue and customer gains throughout the packed summer sporting schedule, which is certain to excite sports fans.

The Euro 2024 kicked off on Friday and the Copa América starts this week, while the Olympic Games is set to take place in Paris as of 26 July with Wimbledon and the US Open to come in July and August.

The opportunity for the sports betting sector is clear, as more traction from these events will lead to increased activity across betting sites and ultimately more financial gain.

According to French gaming regulator L’Autorité Nationale des Jeux (ANJ), the country could see close t..

June 18, 2024

Arizona posts year-on-year sports betting growth in April

Higher spending on sports betting led to a 26.1% year-on-year rise in adjusted gross revenue (AGR) in Arizona, while the Grand Canyon State also reported a month-on-month increase in revenue.

Starting with handle, total spend in Arizona on April hit $656.3m (£516.9m/€611.6m). This is 22.5% higher than last year but 13.6% behind $759.8m in March this year.

Arizona consumers spent $649.9m betting online in April and $5.0m at retail sportsbooks. A further $1.4m was bet through limited event wagering (LEW) operators during the month.

Players won $591.8m from sports betting, leaving $63.3m in AGR prior to the impact of free bets. This includes $62.9m from online wagers, $298,458 retail and $55,098 LEW operators.

After deducting $19.9m in free bets and promotional credits, this left $43.4m in AGR. This is 26.1% higher than $34.4m last year and also 14.2% more than March’s $38.0m total.

Online betting generated $43.0m in AGR after free bets, with retail’s share at $289,208 and LEW operat..

June 18, 2024

Massachusetts May handle up on last year as DraftKings maintains top spot

Player spending on sports betting in Massachusetts fell for the second consecutive month in May, although the Bay State was able to report a year-on-year rise in handle.

Overall betting handle for the month hit $587.3m (£462.7m/€547.6m), 32.4% higher than May last year, but 2.7% behind the $603.3m wagered in Massachusetts in April this year.

Online handle across the six sites active in the state accounted for 98% of all bets placed.

In terms of revenue, this amounted to $57.0m in taxable betting revenue for May. The monthly total is 4.0% lower than $59.4m last year. However, it is a 16.1% increase on the $49.1m posted in April this year.

Online betting accounted for $56.9m of all taxable revenue during May. In contrast, just $105,629 came from the retail betting sector.

Overall revenue hold across all operators hit 10% in May.

A Deutsche Bank analyst note on the month’s figures noted the calendar in May was favourable for betting and gaming, with nine weekend days in May of 2024..

June 18, 2024

Illinois betting handle up 22.8% to $1.10bn in April

Sports betting handle in Illinois jumped 22.8% year-on-year to $1.10bn (£868.2m/€1.03bn) in April, while revenue also edged up year-on-year.

The Illinois April figure was 22% higher than the $898.6m wagered in the same month last year. However, it was down 12.7% from the $1.26bn bet in Illinois in March of this year.

Of the total amount wagered in April, some $1.07bn was spent betting across the eight online platforms available in the state. The remaining $31.8m was attributed to in-person betting.

Professional sports drew the most wagers at $1.05bn, with $1.02bn being bet online and $29.1m in-person. The data, published by the Illinois Gaming Board, does not include a breakdown by sport.

College sports wagers topped $44.3m, split $41.7m online and $2.6m retail. The other $640,758 was bet on motor racing, including $608,030 online and $32,728 in-person.

FanDuel takes top spot in April

Looking at individual operators in Illinois, FanDuel led the way in terms of revenue. During Apr..

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Daily Archives: June 18, 2024