Betting News – Page 209

July 4, 2022

Virginia betting handle surpasses $5bn since 2021 launch

The Virginia Lottery reported a year-on-year rise in both sports betting revenue and handle in May, while the amount wagered by players since the state launched in legal market has now surpassed $5.00bn (£4.13bn/€4.79bn).

Consumer spending for the month reached $351.5m, up 54.9% from $227.0m in May 2021, but 12.0% down from $399.5m in April of this year.

Spending in May meant the amount wagered by players since the state’s legal market opened in January last year stands at $5.33bn. Virginia surpassed $1.00bn in bets in June of last year.

Adjusted gross gaming revenue, which is defined as total bets minus winnings, bouses and promotions and other authorised deductions, jumped 75.2% year-on-year $15.7m to $27.5m.

This amount also represented a 32.2% month-on-month increase from $20.8 in April of this year.

Consumers won a total of $308.9m from sports betting during the month, while $10.0m in bonuses and promotions were issued to players. An additional $5.0m in deductions was also re..

July 4, 2022

Rhode Island sports betting revenue slips to $2.3m in May

Revenue from sports betting in Rhode Island slipped to a year-low of $2.3m (£1.9m/€2.2m) in May, though the state’s handle was up month-on-month.

Player spending for the month reached $41.1m, up 45.2% from $28.3m in May of 2021 and also 2.2% higher than $40.2m in April this year.

Of this total, $25.3m was spent online, while the other $15.8m was bet at retail sportsbooks at the Twin River and Tiverton Casino locations.

Revenue was down 14.8% year-on-year from $2.7m in May last year and 11.5% lower than $2.6m in April of this year. The monthly figure was also the lowest total since $1.2m was posted in December 2021.

Some $1.9m of total revenue was attributed to online betting, with the remaining $461,059 being retail revenue split across Twin River and Tiverton Casino.

Of the two casinos, Tiverton Casino came out on top with $404,515 in revenue from $5.3m in player bets, ahead of Twin River with just $56,544 in revenue, but almost double the size handle of $10.5m.

Last week, it wa..

July 4, 2022

DC sports betting revenue level year-on-year in May despite handle jump

Sports wagering revenue in Washington DC remained level year-on-year in May despite a 25.6% increase in stakes.

Handle for the month amounted to $17.2m (£14.2m/€16.5m), which was up from $13.7m in May of 2021 but 6.5% lower than $18.4m in April this year.

Revenue in May reached $2.0m, which was level with the same month last year and 42.9% higher than $1.4m in April 2022.

Breaking this down by individual operator performance, Caesars retained top spot with some $818,131 in revenue from $7.7m in players bets.

Gambet, which is operated by the DC Lottery and powered by Intralot, was second after paying out $4.3m in winnings from $5.0m in wagers, resulting in $724,451in revenue.

BetMGM, which operates in DC in partnership with Major League Baseball franchise the Washington Nationals, followed with $444,021 in revenue and a $4.0m handle.

Finally, Grand Central Restaurant, Bar and Sportsbook, which offers sports betting via an agreement with Elys Game Technology, placed fourth with $30..

July 4, 2022

Bally’s approved to launch BallyBet in Ontario

Bally’s has been approved for an internet gaming licence from the Alcohol and Gaming Commission of Ontario (AGCO).

The licence was approved on 30 June and will last for two years, expiring on 29 June 2024.

It covers fourdomain names – ballybet.ca, ballycasino.ca, ballysbet.ca and ballyscasino.ca, as well as the BallyBet mobile app.

Bally’s is one of the most recent operators to receive a licence to operate in the province, joining the likes of PokerStars, SkillOnNet and BetVictor.

Ontario’s regulated igaming market launched in April three years after Ontario announced plans to end the lottery’s online gambling monopoly on the province.

Operators such as theScore, PointsBet and Bet365 were approved for licences before the market opened.

July 4, 2022

SBM sells Betclic stake to FL Entertainment ahead of SPAC deal

Monte-Carlo SBM International S.à.rl (SBM) has transferred its entire 47.3% stake in French online gambling business Betclic Everest to newly created media and betting business FL Entertainment, as FL prepares to go public.

The news follows a press release on 11 May announcing the creation of the new entity, FL Entertainment, as part of a special-purpose acquisition company (SPAC) merger.

FL Entertainment will itself soon combine with Pegasus Entrepreneurial Acquisition Company Europe, which is already listed on Euronext Amsterdam.

FL will be made up of Betclic Everest and television production company Banijay, which will make up the majority of the business by revenue.

The new company is predicted to have an enterprise value of €7.2bn (£6.2bn/$7.5bn), as well as generate revenue of €3.5bn and adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of €609m.

SBM will have an interest in new company, holding 4.95% of the voting rights and 10.39% of the effect..

July 4, 2022

Colorado sports betting handle slips to year-low $360.3m in May

Consumers in Colorado wagered $360.3m (£297.8m/€345.4m) on sports during May, the lowest monthly total of the calendar year so far.

Player spending was 44.7% higher than $249.0m in May of last year, but 8.2% down from $392.3m in April this year.

Bettors wagered a total of $356.8m on sports online during May, while the remaining $3.5m was spent at retail sportsbook facilities across the state.

Turning to gross gaming revenue and this amounted to $27.1m for May, up 78.3% from $15.2m in the same month in 2021 and also 19.9% higher than $22.6 in April this year.

Some $26.7m of this total was attributed to online betting, with just $267,458 coming from retail sportsbooks.

Basketball proved to be the most popular sport among players, drawing $102.0m in total bets, followed by baseball on $91.0m, ice hockey at $35.7m and tennis with $20.3m. Consumers also wagered $63.1m in parlay betting during the month.

The state collected $1.7m in sports betting taxes during the month, while win perc..

July 1, 2022

Giving betting a voice

Betting is becoming easier than ever as the industry aligns itself with technological breakthroughs. One of the most recent of these is speech technology, which allows machines to recognise spoken word and perform related commands. This has been widely integrated, with devices like Amazon’s virtual assistant Alexa being a staple in many homes.

Technology company Voxbet seeks to bring automation into the sports betting world, giving bettors the opportunity to speak a bet or tip into existence. Its technology also allows bettors to type their bet for further accessibility.

Jonathan Power, CEO and founder of Voxbet, speaks about what the company offers and how voice technology creates a unique betting experience.

What does Voxbet offer that other providers don’t? How do these elements offer like a unique experience for players?

We’re a technology provider that simplifies the navigation of a sportsbook. So if you think about how you navigate anything else online, like Amazon or eBay, ..

July 1, 2022

Genius Sports expands partnership with Tipsport

Genius Sports has expanded its long-term partnership with Czech sportsbook operator Tipsport.

As part of the expansion, Tipsport has agreed to increase the number of annual events that are covered by Genius Sport’s data and technology products.

In turn Genius Sports will show real-time feeds and pin-point pricing for a number of competitions; including the National Football League (NFL), Euroleague basketball and the English Premier League.

In addition, Tipsport will be able to access Genius Sport’s full NFL product suite, which includes the league’s real-time statistics, its sports betting data feed and its Next Gen Stats product.

“Never-ending innovation is firmly part of our DNA so we’re thrilled to widen our partnership with Genius Sports for the upcoming years,” said Petr Komarek, Tipsport head of data and streaming.

“Considering this strong bond, we’re excited to engage many more customers and provide them with our world-class services. We look forward to create compelling a..

July 1, 2022

Tab NZ misses budget targets amid cost of living pinch

TAB New Zealand missed budget in terms of turnover and revenue in May as softening economic conditions outpaced the easing of lockdown measures.

In its monthly trading update, the betting business said turnover of NZ$202.7m (USD$124.3m/€119.4m/£103.5m) was 3.6% below budget and gross betting revenue (GBR) of $32.0m was down on budget by 4.4%. The gross betting margin (GBM) of 15.8% was 0.1% below budget.

Reported profit for the month was $10.8m, which was $2.4m below budget. Operating expenses were $10.6m for the month, which was $0.4 above budget.

Tab NZ said the key performance results for May were in line with the overall positive trends of the 2021/22 financial year.

Average NZ thoroughbred starters per race was 10.7, slightly above the year-to-date average of 10.6, while the peak turnover for a domestic meeting was $1.9m on 14 May for the Campbell’s Infrastructure Cup Day at Arawa Park.

The top sporting event by turnover for April was the Warriors vs Sharks NRL match at $0.58..