Betting News – Page 147

March 22, 2023

Oklahoma tribal sports betting bill clears House

The Oklahoma House of Representatives has voted through a bill that would allow tribes in the US state to add legal sports betting to their existing gaming compacts.

House Bill 1027 passed yesterday (21 March) by a vote of 66-26 and will now move forward to the Senate for a further committee progress, where it could face additional amendments.

The final version of the bill would need approval from both the House and Senate before it could be passed to the governor for final sign-off.

Read the full story on iGB North America

March 22, 2023

GiG banks on the power of two

Richard Brown’s tenure as Gaming Innovation Group (GiG) chief executive began with a major change of direction, with the sale of its B2C assets to Betsson. Almost four years on, and with business booming for the B2B supplier, he’s poised to make another huge call with plans to split the business into media and platform suppliers.

When he was confirmed as permanent CEO of Gaming Innovation Group (GiG) in November 2019, Richard Brown pledged a focus “on delivery, execution and optimisation, putting us on a path for great focus and renewed growth”.

The business reported revenue of €43.0m for 2019, at a time it encompassed B2C operations, a platform business and affiliate marketing operations under the GiG Media banner. Brown then divested the B2C operations to Betsson early in 2020.

This, he has explained previously, created a focused business, with staff putting all efforts into the B2B platform and media operations.

In 2022, Brown’s third full year as GiG CEO, revenue hit €90.1m,..

March 21, 2023

Missouri House votes to approve sports betting bill

The Missouri House of Representatives has voted to approve a bill that would legalise sports betting in the US state.

While the vote is a step forward in the authorisation of sports betting in the Show-Me State, a formal roll call vote is required in the House before the bill is sent to the state Senate for final confirmation.

House Bill 556, which would allow for retail and online sports wagering in Missouri, is being co-sponsored by Republicans Dave Hinman and Adam Schwadron, as well as Democrats Keri Ingle and Ashley Bland Manlove.

The bill was introduced to the House at the start of the year and approved last night (20 March). Following a formal roll call, which is expected to take place later this week, the bill will then progress to the Senate for further discussion.

Read the full story on iGB North America

March 21, 2023

Michigan online gambling revenue reaches $170.8m in February

Online gambling revenue in Michigan increased 17.6% year-on-year in February, although the US state experienced a month-on-month decline.

Total gross receipts from commercial and tribal operators across igaming and online sports betting for the month amounted to $170.8m, which was up from $145.3m in February 2022 but 8.8% behind $187.3m in January this year.

Some $148.2m of this came from online casino activities, up 2.3% on the previous year but 3.6% lower than January.

Read the full story on iGB North America

March 21, 2023

Are US sportsbooks ready for the age of the influencer?

The US sports betting market has erupted since the 2018 repeal of PASPA, but high marketing spend means it is not yet sustainable. However Troy Paul, founder and CEO of SGG Media, has a way to reduce costs and ramp up retention, as he tells Lillian Walker.

Troy Paul founded influencer marketing specialist SGG Media with his father after graduating from university during the Covid-19 pandemic. The sports betting industry had long appealed to him, leading him to dive in.

“I knew that once PASPA had been repealed, there was a huge industry being created – I wanted to be a part of it,” he explains.

Troy paul, ceo and co-founder

The idea for SGG Media came to life after Troy noticed sports betting marketing was dominated by cost-heavy traditional media forms, such as television and billboard advertising, that offer little way to track results.

He realised social media could provide a less costly alternative to traditional advertising and saw a bright future for influencer marketing.
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March 20, 2023

Massachusetts sports betting revenue reaches $2.0m in opening month

Sports betting revenue in Massachusetts amounted to $2.0m during the first full month of regulation in February.

The US state opened its legal sports betting market on 31 January with an initial three land-based operators going live: Encore Boston Harbor, MGM Springfield and Plainridge Park Casino.

Plainridge Park proved the most successful of the three operators with $890,555 in revenue for the opening month, just ahead or Encore Boston Harbor on $857,602. MGM Springfield generated $262,066 in sports betting revenue.

Read the full story on iGB North America

March 20, 2023

Pennsylvania gambling revenue up 21.6% in February

Gambling revenue in Pennsylvania increased by 21.6% year-on-year in February, driven by significant growth across the sports betting and online slots sectors.

Revenue for the month amounted to $456.8m, up from $375.7m in February 2022 and just 1.6% shy of the $464.4m generated in January of this year, according to the Pennsylvania Gaming Control Board (PGCB).

Retail slots remained by far the main gambling revenue source in the state with $202.8m, up 4.2% year-on-year, while retail table games revenue also edged up 0.2% to $74.5m.

Read the full story on iGB North America

March 20, 2023

Louisiana online sports betting handle slips to seven-month low in February

Consumers in Louisiana spent $175.7m betting on sports online during February, the lowest monthly total since August 2022 and a year-on-year drop of 16.7%.

The total was down from $211.0m in February last year, the first full month of legal online sports betting in the US state, and also 28.3% lower than the record $245.2m wagered in January of this year.

However, revenue from online wagering reached $17.8m, up 6.7% from $16.7m in the same month last year, but 19.1% behind $22.0m in January 2023.

Read the full story on iGB North America

March 17, 2023

NJ gambling revenue up 10.4% year-on-year in February

Gambling revenue in New Jersey climbed 10.4% year-on-year during the month of February, with growth in almost all market sectors.

Revenue for the month amounted to $412.2m, according to the New Jersey Division of Gaming Enforcement. This was up from $373.3m in the same month in 2022 but 5.7% behind the $436.9m generated in January of this year.

Physical slot machines remained the core source of revenue in the state, with the $159.3m collected in February being 3.5% ahead of the previous year.

However, land-based table games revenue slipped 4.9% to $55.6m, although this was the only segment to experience a decline.

Read the full story on iGB North America