Betting News – Page 48

May 21, 2024

US April round-up: growth in Louisiana but New Hampshire declines

Casting an eye over the latest monthly US state results, iGB analyses sports betting growth in Louisiana during April and a decline in revenue and handle in New Hampshire.

Players spent more on sports betting in Louisiana, which led to a rise in revenue. However, it was very much the opposite in New Hampshire in April, where the market shrank year-on-year.

Starting in Louisiana, handle amounted to $283.0m (£222.5m/€250.4m), up 34.8% from last year but down 19.1% from March’s $350.0m total. Players spent $263.2m betting on sports online during April, in addition to $19.8m at retail sportsbooks.

As for revenue, this amounted to $33.0m in April. The monthly total is 49.3% ahead of last year and only 2.4% behind $33.8m in March this year.

The state collected $5.4m in tax during the month, with almost all of this coming from the online market.

As for the financial year to date, total player spending in the 10 months to the end of April was $2.86bn. Of this, $2.61bn was bet online, wit..

May 21, 2024

High regulatory costs driving potential for M&A “boom” in Brazil

Economist Adam Patterson believes high regulatory costs will drive an M&A “boom” for Brazil's sports betting market.

Brazil passed Bill 3,626/2023 to regulate sports betting and igaming on 21 December. President Luiz Inacio Lula da Silva then signed the bill into law later that month.

The country is currently in the process of rolling out its regulations. Licence fees are expected to cost BRL30m (£4.6m/€5.4m/$5.9m) for up to three brands.

Normative Ordinance No 722 outlined regulations on the technology and security requirements of betting systems. Operators must gain certification of their systems from accreditation entities recognised by the ministry of finance. They must also keep their systems constantly updated to maintain compliance.

With operational fees expected to be costly, smaller companies could face obstacles if they are to operate in Brazil.

Patterson is an economist and partner at Redirection International, which specialises in M&A and has a team working in Bra..

May 20, 2024

Weekend report: NY casino hurry-up bill, NCAA harassment report, new places to bet

IGB takes a look at what happened in gambling news over the weekend.

NY casino process: Let’s get a move on!

New York State Senator Joe Addabbo and Assemblyman Gary Pretlow dropped a bill that would speed up the current NY casino timeline. Regulators earlier this year said they would award licences for three downstate casinos by 31 December 2025. The bill would require bids to be filed by 31 July and the New York State Gaming Commission to award licences by 31 March 2025. The bill outlines 17 areas applicants must address from capital expenditure to proposed partnerships to workforce training, demographic plan and “harmony”.

The New York Post reported that a shortened timeline could help out certain parties and hurt others. Addabbo’s district borders Aqueduct, which is the location for the Resorts World bid. Pretlow’s district is near the Yonkers race track.

On the flip side, Steve Cohen’s Citi Field NY casino proposal would benefit from a longer runway. That project needs legisl..

May 20, 2024

Report: MLB opening betting investigation into ex-Angels infielder

As the federal investigation into the Wayne Nix illegal gambling ring expands, Major League Baseball is opening its first investigation. The league so far has declined to do its own investigation into Shohei Ohtani or his ex-interpreter Ippei Mizuhara.

But ESPN Friday (17 May) linked former Angels infielder David Fletcher and ex-minor leaguer Cody Shultz to the Southern California illegal betting ring. Monday morning, ESPN reported that MLB is opening a betting investigation into Fletcher, now in the Atlanta Braves farm system.

Fletcher reportedly bet with Mathew Bowyer, the same illegal bookmaker Mizuhara used. Fletcher did not bet on baseball, according to ESPN.

His high school friend, Shultz, reportedly did, though, including on Angels games in which Fletcher played. According to ESPN, Schultz is the person identified as “Bookmaker 3” in the Mizuhara complaint.

Major League Baseball has not officially acknowledged an investigation. It previously declined to open one on Ohtani..

May 20, 2024

Minnesota sports betting bill dead at end of chaotic, marathon day

A chaotic marathon legislative session ended on Sunday (19 May) in Minnesota without legal sports betting being considered. Before the calendar turned to 2024, Minnesota was among four US states that stakeholders believed had a real shot to legalise.

Instead, Minnesota’s session has been marred by the arrest of a state senator and mired in partisan politics. Although the house voted to convene on Monday (20 May) at 10am, the senate is adjourned for the session. In the final days, the DFL and Republicans called each other names, had shouting matches on the floor,and filibustered. Both chambers met in extended sessions – some going as late as 5am – beginning last week.

Over the weekend, an omnibus bill was created and included many key issues in an effort to get a vote on some issues. Sports betting is not believed to be in the bill, although lawmakers were unsure.

“Why don’t you go through it?” asked Minority Leader Mark Johnson during end-of-session media availability. “Why don’t ..

May 17, 2024

In first full month, bettors wager $649m in North Carolina

On Friday (17 May) the North Carolina State Lottery issued its first full-month legal online sports betting report. Bettors in the state wagered nearly $649m in April and gross gaming revenue (GGR) was $105.3m.

Operators went live in North Carolina on 11 March, ahead of the NCAA men’s and women’s basketball tournaments. Consumers wagered $659.3m during the three-week span in the opening month. But during that time, three North Carolina teams – Duke, NC State and UNC – were all playing in March Madness. Across the US, sports betting handle often dips in April, after the NCAA’s marquee event comes to a close.

Operators had a higher hold in April versus March, paying out $538.4m in winnings on the $649m handle versus $590.8m on $659.3m handle in March. North Carolina taxes digital operators at 18% of GGR, but the state did not release a number for tax revenue.

Promos down

Promotional betting dropped significantly in April, according to the report. Operators wrote off $79.7m in promo..

May 17, 2024

State of the Union: A look back at the week that was in North America

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.

Nevada to Dave & Buster’s: No betting

The Nevada Independent reported that Nevada is the latest state to take notice of Dave & Buster’s plan to offer betting among friends. Gaming Control Board agents met with Dave & Buster’s executives to say betting at the amusement centres wouldn’t be allowed.

Board chair Kirk Hendrick said in a statement on Monday (13 May) that the board “opposes activities that could promote underage gambling, as well as wagering activities by businesses catering to a significant number of minor clientele.” Other states have reacted as well. An Illinois lawmaker filed a bill that would prohibit the idea and regulators in Ohio and Pennsylvania are considering action.

Date set for Mizuhara plea change

On Wednesday (15 May) the US Attorney’s office said that Ippei Mizuhara’s change-of-..

May 17, 2024

Pennsylvania gaming again breaks $500m milestone

The Pennsylvania gaming industry generated revenue of more than $500m in April but fell just short of the previous month’s record.

Some $504.6m (€464.8m/£398.1m) of revenue was recorded for the month, according to figures published by the Pennsylvania Gaming Control Board (PGCB). That was up 5.9% compared to April 2023.

The figure was down on the record $554.6m registered in March 2024. However, the figures were close on a day-by-day basis considering the extra day in March.

Pennsylvania gaming’s biggest segment stalls

Retail slots remains the biggest generator of gaming revenue, although the $205.4m was down 3.5% compared to April 2023. The number of slot machines in operation in April 2024 was 24,890 compared to 25,555 at the casinos in April 2023. Parx Casino, the state’s most popular venue, saw a 4.9% decrease to $31.6m.

Igaming slot revenue was the second biggest segment within Pennsylvania gaming at $126.0m, which was up 31.8%.

Sports betting back to growth

Igaming tables ..

May 17, 2024

US April round-up: Kansas revenue rises, DC reports decline

Taking a look at some of the latest monthly US state sports betting results, iGB analyses a year-on-year revenue increase in Kansas in April and a decline in Washington DC despite handle holding steady.

Total market revenue in Kansas increased 13.0% to $10.4m (£8.2m/€9.6m). However, April was not so positive for DC, with revenue down 59.5% to $526,689 from last year.

Starting in Kansas, not only was revenue up year-on-year, it was also 46.5% ahead of $7.1m in March this year. Online betting accounted for $10.3m of all revenue, with retail’s share at just $79,989.

In terms of spending, total handle for Kansas in April hit $192.1m. This is 44.4% more than last year but behind March’s state-wide handle of $252.9m.

Players spent $185.9m betting online during the month, with a further $6.2m wagered at retail sportsbooks.

Total tax for the month reached $1.0m, with almost all of this coming from online betting.

DraftKings and Boot Hill out in front in Kansas

Taking a look at each op..