August 13, 2024 – Bookielink

August 13, 2024

Flutter beats street and won’t tax winners in the US; DraftKings backs off plan

Flutter CEO Peter Jackson said on Tuesday (13 August) that his company has no plans to follow DraftKings' lead with a winners' surcharge. The company, the market-share leader in the US, reported second-quarter results that exceeded analyst expectations and raised earnings guidance for FY2024.
DraftKings in early August announced that it will introduce a winners’ surcharge in four high-tax states beginning 1 January 2025. Industry watchers have since been waiting to see if other companies, and Flutter in particular, would follow suit.

“We have no plans to introduce a surcharge to winners,” Jackson said during the Q&A portion of the call. He then declined to entertain the issue further when others asked.

Less than an hour after the Flutter call ended, DraftKings released an announcement saying it would not move forward with the idea.

DraftKings Statement on Gaming Tax Surcharge pic.twitter.com/cucbsQJIVD
— DraftKings News (@DraftKingsNews) August 13, 2024

Other companie..

August 13, 2024

Nebraska wagering bill gets out of committee, but floor vote uncertain

On Monday (12 August) Nebraska's General Affairs Committee advanced a constitutional amendment that would put the decision of whether or not to expand gaming to include digital sports betting to the voters.
The committee voted, 5-2, to send LR3CA to the floor, but failed to advance framework legislation. If the Nebraska wagering bill passes and voters approve the ballot referendum, the legislature will be tasked with deciding what digital wagering will look like.

In addition the framework legislation, LB13, includes language that would have put the constitutional amendment on the ballot this year. Unless an exception is made, the decision won’t go to the voters until 2026.

Senator John Cavanaugh introduced a change to LR3CA before it passed. According to the Lincoln Journal-Star, Cavanaugh said the change “keeps power in the hands of the legislature, allows voters to speak on it and then lets the legislature decide once it’s legal how proscriptive you want to make it”.

He al..

August 13, 2024

EstrelaBet and SportyBet among latest Brazil betting licence applications

With just over a week to go until the 20 August deadline, on Monday (12 August) EstrelaBet and SportyBet submitted licence applications to operate betting in Brazil.
Reals Bet then applied today (13 August), taking the total number of applications in Brazil to 13.

Operators that apply within the 90-day initial submission window will ensure their applications are processed ahead of 1 January 2025. That is currently expected to be the launch date for the legal market.

After that date, operators active without a licence will face punitive measures.

The trio joins the likes of Betano and Betsson in applying for licences to operate in what looks set to be a huge market. A recent International Betting Integrity Association study predicted Brazil could reach $34bn (£26.8bn/€31.1bn) in sports betting turnover by 2028.

EstrelaBet chief business officer Fellipe Fraga recently told iGB the company was waiting for the final regulations to be outlined before it applied for a licence.

“There a..

August 13, 2024

North Carolina handle lowest since March launch; Indiana records another high hold

Sports betting handle in North Carolina fell for the fourth consecutive month in July, although revenue increased for operators in the Tar Heel state thanks to an improved hold.
Total handle for July was $340.4m (£266.6m/€311.4m), down 14.5% from June. It is also the lowest monthly total since North Carolina launched legal online sports betting in March.

July is traditionally a quieter month in the US sports betting calendar and, while the MLB season is underway, North Carolina doesn’t have a team in the league.

There were only three major sporting events taking place in July. Wimbledon from 1-14 July, and the Copa América concluded on 14 July – with matches played at the Bank of America Stadium in Charlotte, North Carolina – and the Olympics started at the tail end of the month.

Stronger hold grows North Carolina sports betting revenue
During the month players wagered $328m with North Carolina sports betting operators, who handed out a further $12.4m in promotional credits. Playe..

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Daily Archives: August 13, 2024