Betting News – Page 107

September 28, 2023

Kentucky opens legal online sports betting market

Kentucky will today (28 September) launch legal online sports betting, just weeks after the state also opened its regulated retail wagering market.

Governor Andy Beshear signed off on House Bill 551 in April, legalising both online and retail betting. The retail market opened on 7 September, with online delayed until today as part of a staggered launch.

Each of Kentucky’s racetracks can partner with up to three online operators as well as offer on-site retail betting. Last month, the Kentucky Horse Racing Commission (KHRC) approved sports betting licences for a number of operators.

For the online market, the initial seven operators that applied secured a service provider licence. Bet365, BetMGM, Caesars, Circa, DraftKings, FanDuel and Penn Sports Interactive all picked up licences.

Fanatics, which did not appear on the original list, was also approved to launch online sports betting. In addition, the KHRC issued a service provider licence to Kambi, although this only covers retail ..

September 28, 2023

Betsson secures online sports betting licence in France

Betsson has set out plans to launch in France after securing a licence to offer online sports betting in the country.

The operator says it will collaborate with a local partner in France to support its venture into the country’s regulated market.

Betsson did not reveal the identity of its new, France-facing partner but did confirm that it intends to go live in the country during the fourth quarter. The operator also says it will be active in France under the core Betsson brand.

“I’m pleased that Betsson has obtained a licence to offer sports betting in France,” Betsson president and CEI Pontus Lindwall said. “It is an important gaming market in Europe with great long-term potential for online gaming.

“By combining our knowledge and experience as a global gaming operator with the local expertise of our partner, we can offer an unbeatable customer experience in sports betting in France.”

Ongoing expansion at Betsson

Betsson says the launch links in with its wider expansion strate..

September 28, 2023

WagerWire pens marketplace technology sports betting deal with SB22

Marketplace technology and media business WagerWire has entered into a new partnership with sportsbook platform provider SB22.

Under the deal, WagerWire’s proprietary marketplace technology will be integrated into the sports betting products SB22 builds for its customers.

Bets will be tradeable inside SB22 customers’ applications via an in-sportsbook marketplace, as well as on the WagerWire app.

“WagerWire’s mission is to improve the betting experience through advanced betting capabilities, open market efficiency and engaging content and media,” WagerWire co-founder and CEO Zach Doctor said.

“By unlocking secondary market activity for sports bets, and the social engagement that happens on top of this marketplace, WagerWire is an engine for leveraging an operator’s audience into the most active, engaged and passionate customer base in the industry.

SB22 chief commercial officer Vik Shrestha says the deal offers added value to customers and helps differentiate SB22 products.

“It w..

September 28, 2023

Envisioning a world beyond bonuses

With the industry’s most tried-and-tested incentives being curtailed by regulators across Europe, many operators are looking at new ways to attract and retain players. Among the alternative options being considered is free fantasy football, writes Jacob Kalms, CEO and co-founder of 20Shots.

Bonuses have long been one of the most relied-upon tools in online gambling operators’ armoury, and with good reason.

There’s no denying that bonuses are a proven way to both attract and retain players. But across Europe, rightly or wrongly, there seems to be a growing view among regulators that they might be working a bit too well for gambling companies and that this is to the detriment of players.

We’ve already seen countries such as Spain, Sweden and Denmark bring in restrictions on what bonuses operators can offer. France indicated last year that it intends to follow suit. The publication of the UK government’s Gambling Act review white paper, and now the Gambling Commission’s ongoing consult..

September 27, 2023

Portugal online gambling revenue reaches record €205.9m in Q2

Online gambling revenue in Portugal amounted to a record €205.9m (£179.1m/$217.5m) in the second quarter, driven by growth within the internet casino segment.

Revenue was comfortably higher than €145.2m in Q2 of 2022. The figure was also up 4.9% on the existing record of €196.4m set in Q1 this year.

Online games of chance accounted for €122.0m of all revenue in the quarter, up 51.6% on last year. This was a new record for the segment, according to regulator the Gaming Regulation and Inspection Service (SRIJ).

Players spent €3.24bn on internet casino games during Q1, another new record for Portugal. Slot machines drew 82.5% of all online casino spend, with French roulette at 7.6% and then blackjack on 5.4%.

Turning to sports betting, revenue in this sector reached €84.0m, up 29.8% on 2022 but a slight drop from Q1 this year.

Consumer spending on sports betting reached €357.6m during the quarter. This was 17.1% more than the same period last year but 19.0% lower than in Q2. It was a..

September 27, 2023

Arizona sports betting spend hits $323.2m in July

Sports betting spend in Arizona fell for the fourth consecutive month in July to $323.2m, although this was up 11.3% year-on-year.

Monthly handle in Arizona was higher than $290.5m in July last year. However, player spend on sports betting was 17.8% less than $393.2m in June this year.

Of this total, $320.2m was wagered online, while the remaining $2.4m was spent betting at retail sportsbooks across Arizona.

Consumers won a total of $287.9m from sports betting in July. This left $34.6m in adjusted gross event wagering revenue before free bets, up 38.4% on last year and 24.9% ahead of June.

Revenue from online sports betting hit $34.3m, while retail’s shared amounted to $151,222 for the month of July.

Almost $8.0m worth of free bets issued in Arizona

When discounting $7.7m in free bets and promotional credits – almost entirely from online betting – adjusted gross revenue hit $26.8m. This was up 78.7% from $15.0m in July 2022 and 63.4% higher than $16.4m in June this year.

Online ..

September 27, 2023

Waterhouse VC: Ordem e progresso

In his latest column, Tom Waterhouse of Waterhouse VC analyses the burgeoning sports betting market in Brazil after the country's recent regulation.

“Order and Progress”– The national motto of Brazil, inscribed on the Brazilian flag.

The motto is an allegory for Brazil’s new reforms to regulate the country’s US$1.5bn (£1.23bn/€1.41bn) wagering industry.

With 214 million people and 217 indigenous languages in addition to Portuguese, Brazil is a large and complex market. It is also one of the largest online sports betting markets in the world, with 42.5 million unique users. Wagering operators are generating significant revenues in Brazil by leveraging influencer marketing and numerous sports sponsorship deals.

Brazil’s historic and forecasted wagering revenue across online casino, online lottery and online sports betting. Source: Statista

Brazil’s Chamber of Deputies recently passed a gambling regulation act. This act allows online gaming and omnichannel wagering, with operato..

September 27, 2023

Flutter acquires majority stake in Serbia’s MaxBet for €141m

Flutter Entertainment has acquired an initial 51% stake in Serbian omnichannel sports betting and gaming operator for €141.0m (£122.6m/$149.0m) in cash.

The deal, Flutter says, provides the group with access to the regulated Serbian market and supports its ongoing expansion plans, including within the wider Balkans region.

The agreement also states that Flutter has the opportunity to acquire the remaining 49% in MaxBet in 2029.

Ranked among the leading operators in Serbia with an approximate 20% online share, MaxBet employs more than 2,400 staff. In the 12 months to June 2023, it posted €145.0m in regulated revenue and €32.0m worth of adjusted EBITDA.

The transaction remains subject to customary regulatory clearances but is due to close in the first quarter of 2024.

“I am excited to announce the addition of MaxBet to the Flutter portfolio,” Flutter chief executive Peter Jackson said. “This acquisition continues our progress against the strategic priorities we have set for our inte..

September 26, 2023

West Flagler files challenge against DeSantis and FL legislature

West Flagler has filed a state constitutional challenge against Florida governor Ron DeSantis and the Florida state legislature.

This follows the US Department of the Interior (DOI) filing a challenge to oppose West Flagler’s motion to stay, which was filed last week. This motion to stay was a further attempt to keep Hard Rock Bet shut down as West Flagler prepares to appeal to the Supreme Court.

West Flagler’s latest challenge claims that DeSantis “exceeded his authority” when he agreed to a compact with the Seminole Tribe of Florida in 2021. DeSantis approved the compact in April 2021, and signed it into law the following month.

The compact gave the Seminoles exclusive access to offer online and in-person sports betting in Florida.

But in November that year, a judge for the District of Columbia ruled that the compact infringed upon the Indian Gaming Regulatory Act (IGRA). This reversed the initial agreement.

West Flagler also argues that the legislature exceeded its authority be..