Betting News – Page 165

January 12, 2023

Tipico extends US presence with Iowa launch

Online gambling operator Tipico has further extended its reach in the US by rolling out its sports betting offering in Iowa.

After securing approval from the Iowa Racing and Gaming Commission, Tipico launched in the state via its Tipico USA Technology business and is now accepting online wagers from Iowa consumers.

The launch means Tipico is live in four states across the US, with the operator having also gone live in New Jersey, Colorado and, more recently, Ohio after the state opened its legal online sports betting market earlier this month.

Read the full story on iGB North America.

January 11, 2023

Detroit casinos post gaming and sports betting revenue drops in 2022

Detroit’s three land-based commercial casinos reported a year-on-year decline in gaming revenue for 2022, with revenue down across both slots and tables games and sports betting.

Revenue for the 12 months to 31 December 2022 was $1.28bn, down 1.4% from $1.29bn in the previous year. Slots were responsible for $983.7m of total revenue, representing 77% of the market, then table games with $273.3m (21%) and sports betting at $18.8m (2%).

Analysing the performance by market sector, combined slots and table games revenue fell by 0.8% year-on-year to $1.26bn.

Read the full story on iGB North America

January 11, 2023

Virginia bill introduced capping tax deductions for bonuses

A bill has been introduced in the Virginia Senate limiting tax deductions for bonuses and promotions.

Senate Bill 1142 – introduced by Democratic state senator Jeremy McPike – would amend the existing code of Virginia definition of adjusted gross revenue. Under current law, “adjusted gross revenue” means gross revenue minus four specified deductions.

The proposed amendment would change the first deduction which allows for allows for operators to deduct all bonuses and promotions from gross revenue. It would seek to impose a cap on the amount that can be claimed beginning at 2.5% of the total wagered by the player in 2023-24, lowering to 1.75% by 2026.

This would have the effect of potentially raising the tax burden on sports betting operators in Virginia, since it is adjusted gross revenue, not gross revenue which is subject to the state’s 15% gaming tax.

Read the full story on iGB North America

January 11, 2023

Elys Game Technology joins US Integrity

Global interactive gaming and sports betting technology company Elys Game Technology has partnered up with US Integrity (USI) as it expands in North America.

USI will provide event monitoring, market intelligence and fraud prevention for all of Elys’ growing US facing operations, including Nevada-based USBookmaking, which it acquired in 2021.

In the US, Elys’ focus is to provide end-to-end sportsbook services to business operators across the regulated market. The news of this partnership follows the recent announcement that Elys secured a licence in Ohio’s newly legal sports betting market.

USI’s integrity monitoring services from its proprietary dashboard to Elys Game Technology conducts analysis across dozens of data sets to identify any possible irregular sports wagering-related patterns.

Michele Ciavarella, executive chairman of Elys, said the partnership will help the business detect suspicious betting.

“We are very pleased to be engaged with US Integrity as we prepare to ..

January 11, 2023

Free-to-play comes out of real-money betting’s shadow

When online gambling expansion is brought up, discussions are usually limited to sports betting and occasionally online casino. Yet free-to-play games are becoming a key part of the ecosystem, as more than an addendum to real-money betting.

It’s easy to look at the broad spectrum of online gambling expansion and see only sports betting.

After all, it’s the dominant force as far as rapid growth goes, and it’s coming to new states every few months. Maryland launched in November, Ohio on 1 January, and Massachusetts is making real progress.

Meanwhile, daily fantasy sports, fee-to-play sportsbooks, and prediction platforms are firmly nestled in the conversation but often buried by talk of real-money sports betting.

Apps like those offered by Tally Technologies and OddFlex—we’ll hear from representatives of both shortly—can offer things a traditional sportsbook cannot. In turn these platforms fill a gap hitherto left gaping by the light-speed spread of real-money betting across US ma..

January 11, 2023

South Carolina amendment would let legislature legalise betting and igaming

A South Carolina Representative has put forward a bill that would amend the state constitution, allowing the legislature to legalise varying forms of gambling – including sports betting.

The passage of the amendment would not legalise forms of gambling itself. Instead, it would permit the South Carolina legislature to do so.

Titled the South Carolina House Joint Resolution 3095, the bill was introduced in the state House yesterday (10 January) and referred to the House Committee on Judiciary. It is sponsored by Representative Todd Rutherford.

Read the full story on iGB North America.

January 11, 2023

Number of players on Malta-licensed sites hits record high in H1 2022

The number of players gambling with Malta-licensed operators hit a new high in the first half of 2022, after declines in the previous year.

The number of active player accounts with Malta-licensed operators rose by 8.7% year-on-year after a decline in 2021, to 19.3 million. This exceeded the previous high of 19.0 million recorded in the last six months of 2020.

The rise was mostly due to a record 8.9 million new accounts being created.

Much of the rise was due to higher numbers of younger players, with the portion of players aged between 18 and 24 rising to almost 25% of the total player base. In addition, the Malta gaming sector was found to have contributed €573m in gross value added for the half-year, or 8.0% of the Maltese economy. The gross value added total was up 12.4% from the first half of 2021.

The sector also employed 10,861 people as of June 2022, almost 600 more than a year earlier.

“The resilience of the Malta gaming industry during these trying times is largely att..

January 10, 2023

Bet365 to enter Pennsylvania with CDI deal

Bet365 is set to expand into Pennsylvania, having entered an online sports betting and igaming market access deal with Churchill Downs Incorporated (CDI) subsidiary Presque Isle Downs & Casino.

The agreement, CDI said, is consistent with its strategy to exit the online sports and casino business, with the operator seeking to monetise its online sports and igaming market access rights and focus on growing the TwinSpires online horse racing wagering business.

CDI revealed in February last year that it was to switch its approach to operations in the online casino sector but would retain retail sportsbook operations in its casinos.

Read the full story on iGB North America

January 9, 2023

Kambi and Rush Street Interactive extend sports betting deal

Kambi Group has signed an extension to its North America-facing partnership with online sports betting and casino operator and Rush Street Interactive (RSI).

Under the deal, Kambi will continue to provide its sportsbook engine to RSI in 15 states across the US, as well as in Canada, Colombia and Mexico.

Kambi initially partnered with RSI in 2018 following the repeal of the Professional and Amateur Sports Protection Act (PASPA) in the US and has supported the operator with its expansion across a range of markets.

Read the full story on iGB North America