Betting News – Page 3

September 12, 2024

Flutter’s Olympics betting handle increased threefold at Paris 2024

Flutter Entertainment has revealed its global handle for the Paris 2024 summer Olympic Games more than tripled from the last edition of the Games.
The group did not disclose exactly how much its customers around the world bet on Paris 2024 in its report.

The increase in handle, Flutter said, was due to growth within new markets. It highlighted the US, with 23 states now offering legal sports betting, compared to 10 at the Tokyo Games. However, it also noted the value of bets placed through its FanDuel brand in those 10 states more than doubled.

Flutter said Paris 2024 also benefit from more favourable viewing times for its customers in both Europe and the US. In addition, it noted an “abundance” of dramatic storylines that captured the attention of bettors.

“Many people who aren’t typical sports fans are Olympics fans,” FanDuel sports trader Eric Gerson said. “It’s a unique chance to branch out to new audiences we wouldn’t normally reach.”

Popularity of parlay bets rockets for Flu..

September 12, 2024

Chinese Football Association bans 43 players, officials for match-fixing

The Chinese Football Association (CFA) has imposed lifetime bans on 38 soccer players and five club bosses accused of gambling and match-fixing. A two-year probe found that 120 matches were compromised.
In comments on Tuesday (10 September), Zhang Xiaopeng of the Chinese ministry for public security said the investigation “uncovered a series of online gambling, match-fixing and bribery cases”. They involved 128 suspects and 41 clubs.

Who’s involved?

Among those banned for life are midfielder Jin Jingdao, forward Guo Tianyu and goalkeeper Gu Chao, all of China. They can no longer take part in football or football-related activities. Seventeen others received five-year bans.

In a press conference on Wednesday, South Korea’s Son Jun-Ho protested his innocence. A tearful Son said he was “dumbfounded” by the “ridiculous charges”.

“They threatened that if I didn’t admit to the charges, my wife would be arrested,” he declared. “I said I hadn’t done anything like that.”

China targets spor..

September 11, 2024

Bet limits discussion in Massachusetts reveals disconnect between regulator, operators

The Massachusetts Gaming Commission (MGC) led a nearly three-hour discussion about bet limits on Wednesday (11 September). It was the second attempt at doing so after most operators stood the commission up in the spring.
The meeting revealed a disconnect between operators, regulators, consumers and responsible gaming advocates about how or if a regulator should have a hand in how operators manage risk.

Every operator live in Massachusetts participated in the meeting. The last time, only Bally’s, which wasn’t yet live with Bally Bet, attended.

Statement from DraftKings on decision to not participate in Massachusetts Gaming Commission roundtable on practice of limiting bettors: pic.twitter.com/thbltgu8jc
— David Payne Purdum (@DavidPurdum) May 21, 2024

In addition, there was a panel of stakeholders, ranging from a bettor/journalist to responsible gaming advocates to those with experience running casinos and sportsbooks. The conversation centred on how and why bettors may be limited…

September 11, 2024

Caesars betting kiosks to replace GambetDC’s in US capital

When the DC Council in June approved a budget that included opening the Washington, DC sports betting market to competition, there was one question mark. What would happen to the small businesses – mostly convenience stores – that have GambetDC kiosks?
That question was answered on Tuesday (10 September) when Caesars Entertainment announced that it will replace GambetDC betting kiosks at 53 small businesses in the District. The company did not share when the new kiosks would be put into place.

On Monday (9 September) Caesars got the go-ahead to replace GambetDC through an Office of Lottery and Gaming executive order.

From May 2020-July 2024, DC had a single-source digital sports betting market. The DC Council in 2019 agreed to give Intralot, its lottery operator, the sports betting contract. There was no bid process and, when Intralot rolled out GambetDC, problems with the platform were almost instantly apparent.

Among the complaints were a difficult customer interface, non-comp..

September 11, 2024

Apuesta Total CEO: There isn’t room for everyone in Peru’s regulated market

Apuesta Total CEO Gonzalo Perez expects three or four operators will dominate the newly-regulated online market in Peru, while the remaining brands will fight for single-digit market share.
Law no 31557 came into effect in Peru on 9 February of this year as the government sought to regulate online gaming and sports betting in the country.

Operators active in Peru before the announcement had until 10 March to submit a licence application. Gambling regulator Mincetur warned those who did not comply could face a fine of up to Sol990,000 (€245,394/£212,401/$257,838) or criminal prosecution.

According to the law, Mincetur will process licence applications within 30 business days of submission. Perez said operators have a 15 November deadline to submit final certifications for their platform and content. Failing to meet that deadline could result in authorisation being revoked.

During that initial window in March, 145 licence requests were submitted. Meanwhile new entrants to Peru were g..

September 10, 2024

US lawmakers Tonko, Blumenthal to introduce federal wagering legislation

On Tuesday (10 September) US Representative Paul Tonko and US Senator Richard Blumenthal announced they will hold a press conference on Thursday (12 September) to introduce new federal online sports betting legislation.
The press conference is set for 1pm ET, and will also be streamed live on Tonko’s X page.

Tonko has previously filed two pieces of federal wagering legislation. Both would have put at least some federal framework around legal sports betting, which is a states’ rights issue. The US Supreme Court in May 2018 overturned the Professional and Amateur Sports Protection Act (PASPA). The act was a federal ban on sports betting.

Within months of the decision, brick-and-mortar casinos in four states were offering in-person sports betting. New Jersey sportsbooks were the first to offer digital betting, starting 6 August 2018. New Jersey governors Chris Christie and then Phil Murphy led the lawsuit that overturned PASPA.

According to a press release, representatives from the..

September 10, 2024

How Sporttrade is like… pizza dough

It would be fair to say that Sporttrade, in its current incarnation, isn't exactly what founder Alex Kane envisioned. But it would also be fair to say that he's still growing his business and having a good time doing it.
“I am still excited because I do still have this long-term vision of wanting to create something different,” Kane told iGB. “I love listening to players and learning from them.”

When Sporttrade made its debut in New Jersey in 2022, it became the first company in the US to offer a different experience known as exchange wagering. Bettors can buy and sell bets throughout a game for an experience that more resembles stock trading than traditional sports betting.

The Sporttrade odds format was “implied probability” where, instead of seeing “+300”, players would see “25%”. With implied probability players can, for example, “buy at 25%”, then have the ability to “sell at 60%” if the bet started to look more likely.

Sporttrade went on to add a “limit order”. This..

September 10, 2024

Betano leading in Brazil with 23% of grey betting market share ahead of Bet365

Betano is currently leading the way in Brazil with a 23% share of the grey wagering market, a new white paper from OpenBet has indicated using research from global industry data consultancy H2 Gambling Capital.
Offering exclusive data analytics and projections from H2GC, the OpenBet report revealed Betano 23%of the Brazil betting market, with Bet365 following closely behind with a 20% share.

However, the report also outlined that with the legal market set to launch on 1 January 2025, the Brazilian industry will be increasingly competitive as local brands as well as a raft of international brands seek to get their share of an onshore market that H2GC predicts could reach $10.1bn (£7.7bn/€9.2bn) in gross gaming revenue (GGR) by 2029.

That would represent growth of nearly double, with H2GC estimating Brazil’s legalonline sports betting and igaming market will be worth around $5.6bn in 2025 GGR.Around $3bn of that will come from online sports betting, with igaming responsible for $2.6bn…

September 10, 2024

Waterhouse VC: Why betting can’t survive without sports data

In his latest column, Tom Waterhouse of Waterhouse VC considers the role of sports data and data providers in revolutionising sports betting.
Eighteen years ago, mathematician Clive Humby coined the phrase “data is the new oil”, underscoring the vital role data would play in driving business and innovation. If not as scarce, high-quality data is just as valuable for sports and wagering.

Access depends on securing rights, with rising costs creating natural barriers to entry. AI and machine learning is now being applied to premium sports data to unlock new opportunities for fan engagement, especially in the wagering industry.

Data hasn’t always been as central to sport and wagering as it is today. Before televisions, attending a sporting event was the only way of knowing what really happened. Radio helped, but listeners were still reliant on the commentator’s account. In betting shops, trying to gauge how your bet was faring over shouting and excitement would have been a real challeng..