Betting News – Page 42

June 13, 2024

DC betting handle rockets 450% in FanDuel’s first full month

FanDuel generated $4.9m (£3.8m/€4.5m) in revenue during its first full month of running as the official sports wagering platform of the Washington DC Office of Lottery and Gaming (OLG).

In its first full month of operation in Washington DC FanDuel reported it had taken $29.7m in bets during May, some 450.0% more than the $5.4m wagered in the same month last year with previous incumbent GambetDC. Players won a total of $24.9m from betting with FanDuel last month.

FanDuel officially took on its new role in DC on 15 April. This followed the Office of Lottery and Gaming (OLG) completing its transition from Intralot-run GambetDC, its long-term partner for sports betting.

The $4.9m generated by FanDuel this May eclipses the $711,282 posted by GambetDC in the same month last year. Revenue is calculated by taking player winnings off total bets placed during the month.

Incidentally, the amount generated by – and bet with – FanDuel is higher than all operators combined for any previous mont..

June 12, 2024

DC sports betting: Open, competitive market coming? It sure looks like it

On Wednesday (12 June) the DC Council took the first step toward opening the city's sports betting market by approving a FY2025 budget that includes the Sports Wagering Amendment Act of 2024. The council unanimously approved the budget during a legislative meeting. There will be a second vote as early as next week.

The decision to open the market was not without controversy. An amendment that would have removed the new sports betting plan was defeated, 4-9, after heated discussion. Two key issues around DC sports betting were at play on Wednesday. Some council members said they were concerned about the “speed” at which the change has moved forward. Others said small businesses that currently benefit from having wagering kiosks could lose the opportunity.

In the current scenario, the Office of Lottery and Gaming (OLG) has a monopoly on online wagering. As of April, FanDuel was the only operator that could offer digital betting throughout the District. BetMGM and Caesars Sportsb..

June 12, 2024

State regulators tell illegal gambling operator to back off or face legal action

Bovada is one of – if not the – leading black-market sports betting operators taking wagers in the US. Already banned in five states, regulators in Michigan and Connecticut are now taking aim at keeping the platform out of their markets.

Since the US Supreme Court overturned the Professional and Amateur Sports Protection Act (PASPA) in 2018, a key goal for legal US stakeholders is stamping out the black market.

The federal government in 2011 had success in taking down the original Poker Stars, which was operating illegally in the US. The same year, the DoJ settled with Laura Varela and Costa Rican sportsbook 5Dimes, which also operated in the US.

But since then, there has been seemingly little activity in relation to keeping illegal gambling operators out of the American market. In May the Michigan Gaming Control Board (MGCB) became the first US regulator to send a cease-and-desist letter to an offshore operator.

“Bovada, you are out!”

On 29 May, the MGCB gave Curaçao-based Bo..

June 11, 2024

How senate redistricting could make Alabama more gambling friendly

A seemingly unrelated legal battle playing out in a federal courtroom could have an impact on the future of gambling in Alabama. The case, centred on the potential redrawing of state senate districts in Montgomery and Huntsville, may hold the key to whether the state legalises casinos, sports betting, or lottery in 2025.

The backdrop for this potential shift lies in the narrow defeat of gambling legislation in the Alabama senate in April. The bill fell short of passage by a single vote.

Proponents of the legislation, which included both Democrats and Republicans, argued that casinos would generate significant tax revenue for the state, create jobs and boost tourism. The Public Affairs Research Council of Alabama previously reported analysis that showed that gambling could lead to $749m in annual state revenue. Other reports put the total at as much as $1.2 bn.

On the other hand, opponents, primarily on moral grounds, expressed concerns about the potential social ills associated with..

June 11, 2024

ITIA issues sanctions over tennis betting offences

The International Tennis Integrity Agency (ITIA) has sanctioned a former professional player and official for betting-related offences.

David Gorsic, a Slovenian former player, and Steven Nguyen, an inactive Australian national-level official, have been charged. Both admitted to betting on tennis while covered by the Tennis Anti-Corruption Programme (TACP).

Gorsic, who reached a career-high world singles ranking of 1,399 back in 2015, admitted to betting between 2017 and 2018.

He faces a six-month ban, three months of which are suspended. This means he will not be eligible between 21 May and 20 August. He has also been fined $5,000 (£3,926/€4,660), with $3,500 of that figure suspended.

Nguyen, who has officiated at ITF junior, wheelchair and W25 events, was found to have bet on tennis between 2021 and 2023. He will serve a three-month sanction – from 23 May to 22 August – and pay a $2,000 fine, with $1,400 of that suspended.

The ITIA did not disclose any further information on th..

June 11, 2024

US May round-up: Year-on-year growth in Iowa, Maryland and Tennessee

Analysing the latest monthly state sports betting reports in the US, iGB takes a look at year-on-year growth across Iowa, Maryland and Tennessee during May.

Player spending was higher in each state in May. Revenue also increased in both Iowa and Maryland during the month, although Tennessee no longer reports this data.

Beginning the monthly analysis in Maryland, player spending on sports betting in May hit $431.5m (£338.9m/€400.7m). This is 34.8% ahead of last year but 11.3% behind April’s total spend of $486.3m.

Of this total, $419.5m, was bet online, while consumers wagered a further $12.0m at retail facilities.

As for revenue, after deducting prizes, promotional wagers and other amounts, this stood at $46.6m. The monthly total is 50.3% higher than last year and 22.6% more than April, despite a lower handle.

Some $45.7m of all taxable win came from online betting, with retail contributing $875,290.

It was also noted Maryland was able to collect $7.0m in tax, including $6.9m fro..

June 11, 2024

Former Inspired CCO launches Playbook Fusion B2B games studio

Steve Rogers, the former, long-time chief commercial officer of Inspired Entertainment, has launched Playbook Fusion, a new B2B games studio aiming to deliver a new genre of betting products.

Playbook Fusion will seek to combine gambling and video games to develop a new genre of sports-themed betting products. This content will be made available to operators in markets around the world.

Each title, Playbook Fusion says, will offer a deeper and more persistent experience than the games currently available. This, it adds, will require players to use skills and optimise their strategy to impact the outcome of each game.

“Recognising how players of video games enjoy the feeling of ownership and pitting their skills against other players in the global community, Playbook Fusion takes that same desire for connection and community into the sphere of gambling,” Playbook Fusion said.

Playbook Fusion targets immersive experiences

Rogers worked with Santiago Jaramillo to develop and launch..

June 10, 2024

Weekend Report: Rhode Island credit limit potentially on the rise

Welcome to the Weekend Report, where iGB updates you with the stories you may have missed over the last few days.

Rhode Island credit limit potentially doubling

On Thursday (6 June), the Rhode Island senate voted to increase the outstanding credit per player to $100,000 (£78,697/€92,973). The house is now expected to review the bill this week.

The amended bill passed with a vote of 28-5 to raise the limit from the previous $50,000 which had been in place since 2014.

Igaming launched in Rhode Island in March. Bally’s Corporation essentially has a monopoly on igaming in Rhode Island following state legislators’ 2021 approval of a 20-year contract for Bally’s and supplier IGT.

The bill was introduced by Senator Frank Ciccone III and Senate President Dominick Ruggerio. The bill’s text states that the aim of the rising credits is to “increase Rhode Island’s competitiveness in the gaming industry”.

However, the bill is also facing opposition. As reported by the Rhode Island Current, Se..

June 10, 2024

New York sports betting revenue tops $200m in May

In May New York saw mobile sports gross gaming revenue (GGR) top the $200m (€185.6m/£157.2m) mark for the first time in more than a year.

According to figures released by the New York State Gaming Commission, the total figure was $203.3m in May. This was only the second time GGR was above $200m in a month, and the first since the $211.5m achieved in January 2024. The GGR figure was also up by 33.8% compared to May 2023.

New York mobile sports betting handle was $1.97bn during the month. This was up 45.9% year-on-year and the biggest amount since the record month of November 2023.

Net revenue to platform provider was $99.6m. This was also the second highest figure since New York’s legal sports betting market was introduced at the start of 2022.

FanDuel still top in New York sports betting

FanDuel remained the biggest winner in New York during May, achieving GGR of $88.0m. This was from handle of $747.5m. While second placed DraftKings took in handle of $812.3m, GGR was $84.2m.

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