October 2024 – Page 5

October 14, 2024

Tribes acknowledge Oklahoma wagering bill coming but is there a path forward?

At the Global Gaming Expo (G2E) last week Matt Morgan, head of the Oklahoma Indian Gaming Association (OIGA), said that while tribes are open to discussing the future of sports betting, they'll stand still until Governor Kevin Stitt moves on or changes his position.
Stitt, who became Oklahoma’s governor in 2018, has had a difficult relationship with Indian country. He has been sued by lawmakers over compact negotiations and has alienated the tribes by trying to dictate what legal wagering will look like without considering sovereignty or exclusivity.

Oklahoma is the second biggest tribal market in the US behind California and has a robust land-based casino industry. The state’s 39 tribes operate more than 125 gaming locations, including some that draw customers from neighbouring Texas. But legal sports betting remains elusive.

The tribes have exclusivity for gaming in Oklahoma. Despite that, Stitt last year outlined a legal wagering framework that included tribal and commerci..

October 14, 2024

Weekend Report: Bet365 enters Peru, South Korean celebrities caught up in illegal betting case

Welcome to the Weekend Report, where iGB looks at the news that you may have missed across Friday, Saturday and Sunday. This week: Bet365 launches in Peru, a Pakistan cricket legend is under fire for new ambassador role and South Korean celebrities are swept up in illegal gambling.
Pakistan cricket legend faces backlash over betting ambassador role
Starting in Asia, Pakistan cricket captain Wasim Akram has come under fire for taking on a new betting ambassador role with Baji.

India-facing Baji offers online sports betting and casino and has enlisted several celebrities to help promote its services. Akram is among those to come on board despite Pakistan having placed restrictions on promoting gambling.

Fans took to social media to criticise Akram after he shared a promotional video on social media. Questions were also raised as to why Akram is working with an operator that is not licensed in Pakistan.

Bet365 makes Peru move
Meanwhile, in South America, Bet365 has announced the launc..

October 12, 2024

G2E: Let’s make a deal! Minnesota stakeholders have “framework” but politics still in play

Buried under the news that California tribes could bring a sports betting initiative as soon as 2026 is this: Minnesota's stakeholders have brokered a deal.
Minnesota Indian Gaming Association (MIGA) executive director Andy Platto was among the panelists who joined California Nations Indian Chairman James Siva on Tuesday (8 October) on a Global Gaming Expo (G2E) panel entitled ‘Tribal Sovereignty and Sports Betting: A Delicate Balance’.

Minnesota lawmakers have been trying for multiple sessions to legalise retail and digital sports betting. It never got a vote this year, but did get through the house in 2022.

Platto, who heads up the state’s tribal alliance, has been the face and voice of Indian Country. Over time, that has meant managing relationships with charitable gaming folks, horse racetracks and, more recently, professional sports teams. The tribes in Minnesota have exclusivity for gaming in the state and already operate land-based casinos.

But legal wagering, partic..

October 11, 2024

State of the Union: Missouri campaign donations approach $50m, Florida opportunity?

Welcome to iGB's State of the Union, a look at the biggest North American sports betting stories we've covered over the week and briefs on others we found interesting.
More money in Missouri
Casino and online gambling companies continue to pour money into campaigns for and against Amendment 2 in Missouri. The proposal, which will be on the November ballot, would legalise statewide mobile and retail sports betting.

Caesars Entertainment, which operates three casinos in the state, added another $3.3m (£2.5m/€3m) to Missourians Against the Deceptive Online Gambling Amendment on Monday (7 October). So far, the company is the only one funding the campaign and has staked it with with $14.2m to date. The Monday donation came via Caesars’ Tropicana St Louis property.

Under Amendment 2, Missouri casino companies would be entitled to one digital skin. When the issue was being considered in the state legislature, casino companies would have been able to get one skin per physical loc..

October 11, 2024

US sports betting round-up: Maryland and Kansas September

Rounding up some of the latest monthly sports betting results in the US, iGB takes a look at how Maryland and Kansas fared during September.
Maryland handle hits $532.9m
Focusing first on Maryland, taxable revenue during September hit $62.5m (£47.9m/€57.2m). This is 190.7% more than the same month last year and 68.0% more than August this year, but not quite a new record.

Data from Maryland Lottery and Gaming shows mobile betting accounted for $60.7m of all revenue in September. Retail sportsbooks generated the remaining $1.9m.

Handle-wise, players spent $532.9m, the fifth-highest total since wagering went live in December 2021. The total beat last year’s figure by 20.4% and is also 41.2% ahead of August. Overall spend on mobile during September was $518.9m, with retail’s handle at $14.0m.

In terms of hold, for the state as a whole, this reached 11.73%. For online, hold was 11.70% and retail 13.57%. As for tax, the state collected a record $9.4m from betting operators. Wagering oper..

October 11, 2024

“Simply put, if a student-athlete is inclined to gamble, they’re going to do it”

What do NCAA athletes, coaches and administrators really think of the proliferation of gambling? One college professor sought to find out.
Early in this college football season, Michigan State quarterback Aidan Chiles made national headlines when he was talking to media members about the Spartans’ upcoming game against Florida Atlantic.

Rather than predict a high-scoring contest, Chiles put it in different terms that caught many off-guard.

“If you bet, take the over,” said Chiles.

A starting QB making a blatant sports betting reference in front of the media generated a storyline that those within the walls of the NCAA offices would rather not deal with.

Chiles’ remarks are just another example of how much sports betting has become a mainstream topic. Such is the case when promotions from the national sportsbooks have become ubiquitous during game time.

As for the impact of these advertisements on those actually participating in the games, the NCAA and its member schools have taken..

October 10, 2024

US September round-up: Tennessee, West Virginia and Detroit

Rounding up some of the latest monthly sports betting results in the US, iGB analyses figures from Tennessee, West Virginia and Detroit for September.
Tennessee sets new gross wagers record in September
Starting in Tennessee, the Volunteer State saw gross wagers hit an all-time high of $524.8m (£401.8m/€480.3m). This figure is narrowly higher than the existing record of $517.4m in November last year.

The September total also surpasses last year’s amount by 25.5% and is 52.5% higher than August this year. This is according to data published by the Tennessee Sports Wagering Council.

Tennessee does not publish data on monthly revenue. It does, however, detail gross handle, with this at $520.8m. This is after accounting for $3.9m in undisclosed adjustments.

As for tax, Tennessee was able to collect $9.6m in privilege tax from sports betting during the month. Tennessee operators are taxed at 20%.

West Virginia narrowly misses revenue record
Turning now to West Virginia, revenue fell ju..

October 9, 2024

US sports betting round-up: Banner September for DC, monthly records tumble in Maine

Rounding up some of the latest monthly sports betting results in the US, iGB takes a closer look at how Washington DC and Maine fared during September.
In the month that heralds the return of NFL betting, Washington DC’s newly liberalised market smashed records, while Maine kicked off football season strongly.

DC smashes sports betting records in September

Starting in DC, both sports betting revenue and handle reached all-time highs in September. Gross gaming revenue for the market reached $8.2m (£6.3m/€7.5m), up 82.2% from August and 331.6% ahead of last year.

In terms of player spending, this topped $58.8m, a new record for DC. The total is up 44.8% from August and 305.5% more than in September of 2023. This represents a total market hold of 13.95%

FanDuel still the one to beat in DC
Data from the DC Lottery and Office of Lottery and Gaming covers all operators licensed in the market. This includes several online brands that have launched in DC in recent months.

The DC Council i..

October 9, 2024

G2E: Lobbyists predict Texas’ odds of 2025 gaming expansion now “greater than 50%”

Numerous years of political progress in Texas have made it so that the chances of passing gaming legislation in the 2025 session are better than ever, according to a panel of lobbyists on Tuesday (8 October) at Las Vegas' Global Gaming Expo (G2E).
Tuesday’s discussion drew a packed house to hear about the latest progress in the Lone Star State. David Rittvo, principal at Tailored Hospitality Advisors, moderated the discussion alongside three heads of governmental relations: Andy Abboud of Las Vegas Sands (LVS), Rick Limardo of MGM Resorts and Caesar Fernandez of FanDuel.

Abboud was the most bullish of the group, proclaiming several times that Texas gaming expansion is “inevitable”. Even if 2025 isn’t the year, he said, it will still be “another session of great progress”. When asked about the probability of passage next year, he asserted that it is now “greater than 50%”.

The path to legalisation is not easy – it requires a constitutional amendment, enabling legislation and pa..

October 9, 2024

North Carolina bounces back in September as sports betting handle and revenue rise

The North Carolina sports betting market recovered from the quieter summer months in September, with gross revenue, handle and hold nearing record levels.
Starting with gross revenue, September’s hit $70.1m (£53.5m/€63.9m), according to data from the North Carolina State Lottery Commission.

Revenue is 107.4% ahead of August and only the second highest monthly amount since the state opened its legal market in March. Gross revenue totalled $105.3m in April, the first full month of regulated betting.

As for player spending, total bets in September amounted to $575.4m. This is 55.3% up from August and not far off the $659.3m and $648.9m wagered in March and April, respectively.

Paid wagers totalled $538.4m and promotional bets $37m in September. Both contributed to the total handle.

The Commission also noted $3.8m in cancelled and voided bets, while players won a total of $501.6m in September. Tax-wise, North Carolina generated $12.6m during the month.

In terms of hold, this hit 13.01..

October 9, 2024

South Africa gambling revenue reaches record ZAR59.3bn in 2023-24

Gross gambling revenue in South Africa hit a record ZAR59.3bn (£2.58bn/€3.07bn/$3.37bn) in the 2023-24 financial year, while player spending also reached an all-time high.
Revenue was 25.7% higher than ZAR47.12bn in 2022-23, the existing yearly record for South Africa. The latest report from the country’s National Gambling Board covers the 12 months to 31 March 2024.

Sports betting leads the way in South Africa

Sports betting was again by far the largest source of revenue, generating ZAR35.91bn, or 60.5%, of all revenue. This is 51.2% more than in the previous year.

Of this, ZAR28.97bn was revenue from online betting, with the vertical accounting for 49% of overall revenue in 2023-24. Online sports betting is currently only legal in the Northern Cape, Western Cape, Mpumalanga, Limpopo and North West provinces.

Retail betting revenue for the year amounted to ZAR6.94bn, accounting for 19% of all betting revenue or 11.7% of total market revenue.

Revenue flat across other gambling typ..

October 9, 2024

With ESPN Bet live in New York, Penn executives bullish and focused on ESPN-ESPN Bet integration

Penn Entertainment presented a positive outlook for the Penn Interactive digital business at its Investor Day on 7 October. Highlights included green shoots already showing in New York, merely a week after ESPN Bet’s launch, and continued efforts to integrate the app with ESPN to up-sell users and cut down on time spent away from the ESPN Bet product.
Despite criticism from analysts and investors earlier in the year and claims that a Boyd takeover was on the horizon, CEO Jay Snowden is sure ESPN Bet can turn its luck around.

“Net-net, we remain positive on the ESPN Bet opportunity,” Truist analyst Barry Jonas said of the presentation.

Early signs of success in New York
New York is already showing signs of success for ESPN Bet in its first week. The presentation showed daily handle per ESPN Bet user in New York is already 296% higher than any other state it operates in.

In the first three days, ESPN Bet took $3m in bets, according to the New York State Gaming Commission. For com..

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