Betting News – Page 37

July 5, 2024

State of the Union: CNBC Sports, new Illinois tax now in place, more

Welcome to iGB's State of the Union, a look at the biggest North American sports betting stories we've covered over the week and briefs on others we found interesting.

CNBC getting into sports

Per Steve Ruddock’s “Straight to the Point” substack, CNBC is adding a sports channel. What does that mean for sports betting? “That coverage includes sports betting, an area CNBC’s Contessa Brewer has been in the thick of for several years,” Ruddock wrote on Wednesday (3 July). Overall, the channel will focus on the intersection of sports and business.

Brewer has been among a handful of national news voices to cover the sports betting industry since PASPA was overturned in May 2018. She “will continue to focus on the money, data statistics and strategy behind the sports gaming industry” according to the press release.

Betting on colleges coming to NJ?

The one thing missing from the market often considered the gold standard of US wagering is the ability to bet on college sports in ..

July 5, 2024

Veikkaus lands former Kindred exec Reimblad as sports betting VP

Finland’s Veikkaus has appointed Andreas Reimblad, formerly director of sportsbook at Kindred Group, as its new vice-president of sports betting.

Veikkaus confirmed the news in a LinkedIn post and Reimblad begins his new role today (5 July). He joins having only left Kindred last month following 12 years with the business.

Reimblad spent three and a half years as director of sportsbook at Kindred. Prior to this, he held a number of development roles for the vertical. Reimblad also had a short spell at IGT as product manager for betting and bingo, sandwiched by another stint at Kindred in the Unibet days.

“I’m excited to be part of Veikkaus’ journey,” Reimblad said. “The opportunity that Veikkaus may have to enter the global stage fits well with my experience of operating in several markets.

“I’m eager to contribute my knowledge to this exciting journey. Veikkaus has a respected reputation in the industry among both operators and suppliers. So, the timing of my transition feels per..

July 3, 2024

US DoJ preps to criminally charge Porter with felony in illegal gambling scheme

Federal prosecutors in New York are preparing to charge Jontay Porter for his involvement in the illegal betting scandal that got him banned from the NBA. Porter's name appeared on a federal court docket on Wednesday (3 July), reports the New York Daily News.

Court papers were not immediately available but, according to the Daily News, the US Department of Justice (DoJ) will seek felony charges. Porter is accused of game fixing in an illegal gambling scheme. Four others have been arrested and arraigned for conspiracy to commit wire fraud in the case.

The Daily News wrote that Porter will likely be charged “through an ‘information’ document instead of an indictment, which typically happens when a suspect plans to plead guilty to the charges at the case’s onset”.

Porter allegedly removed himself from two Toronto Raptors games to allow bettors to win on “under” prop bets. DraftKings reported suspicious activity to the NBA after games on 26 January and 22 March. The four arrested..

July 2, 2024

Dog eat dog world? In US, Nathan’s Hot Dog Eating contest a kooky cultural event

The Nathan's Hot Dog Eating contest takes the idea of the traditional fourth of July barbecue to a new level. This year, the contest won't feel the same after 16-time champion Joey Chestnut has parted ways with organisers.

The Nathan’s hot dog contest, held at Coney Island in New York, pits America’s top competitive eaters against one another in a race against the clock. How many hot dogs and buns can a person eat in 10 minutes? You would be surprised – in 2021, Chestnut set a world record by eating 76, including the buns. It’s not pretty – but it’s pretty funny – to watch.

Competitors dip their buns and dogs in water to soften them up and then quite literally suck them down. Their cheeks bulge like chipmunks. Their faces anguish like marathon runners. The winner is the person who eats the most – and keeps it down. The contest isn’t just about speed.

The winner gets the coveted Mustard Belt, which looks a lot like a boxing championship belt… but with a hot dog and Uncle ..

July 2, 2024

Bally Bet now live in Bay State

Bally Bet launched in its seventh state on Tuesday (2 July). The operator joins six other national sports betting platforms in Massachusetts.

Seven seems to be the lucky number for the launch – not only did Bally Bet launch in its seventh state, it is the seventh live operator in Massachusetts. The state at one point had eight platforms live, but Betr and WynnBet exited the market earlier this year. That left BetMGM, Caesars Sportsbook, DraftKings, ESPN Bet, Fanatics Sportsbook and FanDuel.

Under Massachusetts law, there can be a maximum of 17 platforms. Operators can partner with existing casinos or horse racetracks, or apply for a stand-alone mobile licence. BetMGM (MGM Springfield) and ESPN Bet (Plainridge Park) are tethered to casinos. WynnBet was tethered to Encore Boston Harbor, but that licence is no longer in use since WynnBet shuttered.

Bally Bet was among the first group of digital wagering platforms to be licensed in Massachusetts. The company decided not participate i..

July 2, 2024

DraftKings topples FanDuel in Ohio during May

DraftKings took pole position in Ohio's betting market for May as FanDuel fell to second, while Bet365 continues to follow behind the top two.

Total handle for May topped $611.6m, up 37.0% year-on-year in May. The Cleveland Cavaliers progressed to the NBA Conference semi-finals, losing to the Boston Celtics. Handle, however, was 9.2% down on the $673.2m wagered on Ohio sports betting in April.

Online betting accounted for the vast majority of amounts wagered, contributing $595.2m, with a further $16.4m staked at retail sportsbooks across the state. After customers won $538.3m, gross gaming revenue for the month was up 16.4% to $67.4m – suggesting a market hold of 11.0% – with online accounting for 98% of GGR.

Ohio sportsbooks cannot deduct promotional spend until 2027. The state’s sports betting law allows for 10% of promotional spend to be deducted beginning in 2027 and 20% to be deducted beginning in 2032.

Despite reporting year-on-year growth, revenue was 8.8% behind the ..

July 1, 2024

Virginia wagering operators see 24.6% year over year revenue growth in May

Sports betting operators in Virginia had a stunning May, earning $60m in adjusted gross revenue as compared to $42.5m in May 2023. Those betting in the state laid down $505.6m, a 25.2% increase against the same month last year.

Handle and revenue were down for Virginia wagering operators against April, but that is consistent with the US sports calendar. The men’s and women’s NCAA basketball semi-finals and finals were played in April. This year’s women’s basketball tournament fetched more handle than ever before.

May featured the start of the post-season in the NBA and NHL as well as regular-season baseball.

Virginia wagering operators had an 11.9% win rate, continuing a trend of double-digit holds, according to the report. It marked the 21st time that operators had a double-digit hold since the first platforms went live in January 2021.

The state was able to tax $53.6m of the total AGR as operators wrote off just over $6m in promotions and “other deductions”. When sports bettin..

July 1, 2024

Weekend Report: PH senator pushes POGO ban, FanDuel’s strong week in NY and more

Welcome to the Weekend Report, where iGB updates you with the stories you may have missed over the last few days. This week we cover POGOs in the Philippines, as well as stopping off in New York, New Hampshire, Thailand and Brazil.

Philippine senator renews call for online gambling ban

Philippines Senator Joel Villanueva is pushing for his 2022 legislation banning Philippine Offshore Gaming Operators (POGOs) and all forms of online gambling to progress through the country’s legislature.

First filed in September 2022, Villanueva’s Senate Bill 1281 aims to repeal all legislation granting the power to regulate online gambling and criminalise the vertical. Those found to have placed, received or otherwise unknowingly transmitted a bet or wager online would face either a prison sentence of up to six months or a fine of PHP500,000 (£6,736.74/€7,943.75/8,524.33).

Villanueva urges PAGCOR to intensify investigation on POGOs and other forms of online gamblinghttps://t.co/dDChQ5jZSZ
— DZRH..

July 1, 2024

Bally Bet to launch 2 July in Massachusetts; VSC goes live in Maryland

On Monday (1 July) the Massachusetts Gaming Commission announced that Bally Bet has plans to launch Tuesday (2 July). The commission approved Bally's application for its operations certificate, clearing the way for that launch.

The MGC revealed that Bally Bet plans to launch at 11am local time on Tuesday.

Bally Bet has had its temporary licence for about 18 months and is the last of the operators approved for a 2023 launch to do so. After Betr and WynnBet exited Massachusetts earlier this year, Bally Bet will provide a seventh betting option for those in the state.

Bally Bet opted to sit out the universal launch on 10 March 2023 and renewed its temporary licence earlier this year at a cost of $1m.

“Congratulations to Bally’s, thank you for being another legal operator in the market,” MGC chairman Jordan Maynard said. The commission unanimously agreed to issue Bally’s Interactive with its operations certificate.

Bally Bet will join BetMGM, Caesars Spo..