Betting News – Page 51

May 10, 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.

Legal wagering, HHR ban bill combined in Minnesota

On Friday (10 May) Minnesota state representative Zack Stephenson combined his legal wagering and historic horse racing bills. The house ways and means committee moved the bill, now HF 5274, to the house floor. Should it pass, legal digital wagering would be allowed, but HHR machines would be prohibited.

👀 Speaker Hortman told reporters today that odds of getting sports betting done in these dwindling #mnleg days are going up again — currently at 60-40, she said. Cited productive talks. Said HHR ban would need to be part of any deal.
— Torey Van Oot (@toreyvanoot) May 9, 2024

Combining the bills does not solve any of the issues that have held up sports betting legalisation. The state’s two racetracks, who want a slice of the wagering pie, remain opposed. M..

May 10, 2024

Vasco da Gama and Betfair sign biggest sponsorship in club history

Vasco da Gama and Betfair have signed the biggest sponsorship in the club’s history as Brazil prepares to launch its fully regulated sports betting market.

The deal between Vasco, who play in the top-flight football league in Brazil, and Betfair, will run until 31 December 2025.

The agreement, despite being billed as the “biggest”, did not disclose the final price. It is also understood that the sponsorship could be renewed for two additional seasons.

Vasco’s men’s team will feature Betfair’s branding on their kit. Meanwhile, the women’s team will have it on the shoulderblade of their shirts. Vasco will debut the Betfair brand on its shirt in their game against Vitória in the league on 12 May.

The deal will feature extensive cooperation between Vasco and Betfair, with activities also included that will be aimed at the club’s fans. These will see the likes of regular raffles, prizes with VIP tickets and other unique experiences with the team.

Lúcio Barbosa, Vasco chief executive, ..

May 10, 2024

Maryland sports handle up almost 50% in April

Maryland’s sports betting market enjoyed another huge double-digit rise in revenue during April, with more than $480m (€445.3m/£383.4m) generated.

Maryland saw sports betting revenue rise by 48.1% year-on-year to $486.3m during the month. Retail accounted for $11.3m of handle, with around 98% coming from mobile.

The US state recorded hold of 10.4%, with $435.9m paid out in prizes. This was compared to hold of 10.9% in April 2023 on $292.8m. Promo play in Maryland was up from $9.0m to $11.1m.

Taxable win was at $38.0m in April, which was up on $25.8m in the prior period. This led to a 47.1% rise in the contribution to state of $5.7m. This was the fourth-best single-month total since Maryland’s online sports betting market went live in November 2022.

Maryland’s sportsbooks have collected almost twice as much handle as at the same point last year. From July 2023 through April 2024, sports wagering was up 96.7% to $4.6bn. Prizes paid out were more than double at $4.1m compared to $2.0b..

May 10, 2024

Betano goes live in the UK with BVGroup

Global gaming platform Betano has launched in the UK through a partnership between owner Kaizen Gaming and BVGroup.

Betano arrives in the UK having already established its presence in Europe and Latin America. Betano’s move into the UK comes during a year in which it has become an official sponsor of the forthcoming Uefa Euro 2024 and CONMEBOL Copa America 2024.

BetVictor owner BVGroup owns licences in the UK, Republic of Ireland, Gibraltar and Ontario. It services multiple brands across sports betting, casino and bingo.

“The unveiling of Betano in the UK is the latest addition to BVGroup’s extensive track record of successful launches. This further strengthens Betano’s worldwide footprint,” the partners said in a statement.

UK customers will enjoy a full range of features, including bet boosts and the recently released Lucky Dip. BVGroup’s safer gambling tools include Sentinel, which provides automated messaging and risk assessment.

Julio Iglesias Hernando, CCO of Kaizen, said: “..

May 10, 2024

FanDuel TV launches new streaming channel

FanDuel TV, the television network of operator FanDuel, has announced the launch of FanDuel TV Extra, a new free streaming channel.

FanDuel claims its new free ad-supported streaming television (FAST) channel shows more live sports than any other FAST channel currently out there, making it the “premier destination” for sports fans looking to watch and bet concurrently.

FanDuel TV Extra is currently available through streaming platforms such as Pluto TV and the Roku Channel. It’s also accessible through FanDuel’s over-the-top streaming platform FanDuel TV+.

Bettors can access coverage of international basketball from countries such as China and Turkey, as well as football from the South Korean K-League. Also available will be Professional Darts Corporation and PokerStars events.

Having launched FanDuel TV back in September 2022, executive producer and senior vice-president Kevin Grigsby believes the new channel will help with customer acquisition. Grigsby also revealed that it was l..

May 10, 2024

DraftKings to acquire Sports IQ Analytics

DraftKings has agreed a deal to acquire Sports IQ Analytics, a business that uses artificial intelligence and machine learning to provide software solutions to the online sports betting market.

Full details of the agreement have not been disclosed, with the acquisition having only been confirmed on LinkedIn by Sports IQ CEO Omer Dor. DraftKings has yet to comment on the news.

Based in Vancouver in Canada, Sports IQ supports companies with software for online sports betting. Solutions cover more than 12,000 events every year, offering access to hundreds of in-play markets.

“I’m excited for this next chapter in the Sports IQ Analytics journey,” Dor said. “In DraftKings, we join a team whose desire for winning and being the best matches our own.

“I feel privileged for the last six years, working alongside the incredible group of people that make the Sports IQ team. They are hardworking intelligent and passionate and I’m so excited that we get to bring our skills and energy to DraftKin..

May 9, 2024

Brazil bettors set to face 15% tax on winnings

A new normative ordinance in Brazil has confirmed a 15% tax on player winnings above BRL2,824 (£437.77/€508.05/$547.25).

The Special Secretariat of Federal Revenue of the ministry of finance published Normative Ordinance No 2,191 in the Official Diary of the Union on Tuesday. The ordinance outlined the tax framework for betting in Brazil after the Federal Revenue Service (RFB) confirmed its ruling for a personal income tax (IRPF) on betting.

Brazil is in the process of clarifying its betting laws. The country passed legislation to regulate sports betting and igaming on 21 December. President Luiz Inacio Lula da Silva signed Bill 3,626/2023 into law in late December.

There will be a 15% personal income tax in Brazil, as decided by the Economic Affairs Commission in November. However, the tax will only apply on net winnings of more than BRL2,824. The tax will apply at the time of winnings being paid and be taxed at source before a player receives their winnings. The betting operator w..

May 9, 2024

Stake.com sees $100m IPL boost after backing Indian market

Global gambling site Stake.com is reaping the rewards of its investment in India with more than $100m already wagered on the continuing Indian Premier League (IPL) cricket season.

Cyprus-headquartered Stake has targeted growth in India just as other operators are distancing themselves from the market due to concerns about the GST flat tax on turnover. The group enabled deposits in Indian rupees for the first time ahead of IPL 2024 and has commenced a series of marketing campaigns.

Stake said this has led to “unprecedented levels of betting activity” during the IPL season, which concludes later this month.

“We are constantly striving to improve our product and want to make Stake easily accessible to as many players as possible,” said Stake’s director of commercial, Jarrod Febbraio. “With more than $100m wagered this season alone, the IPL is soaring in popularity, and so is Stake.”

IPL marketing boosts Stake’s Indian presence

The Indian rupee has become the sixth fiat currency avail..

May 9, 2024

Ex-MGM exec Sibella gets probation, $9,500 fine in money laundering case

Wearing a navy blazer and a sombre expression, Scott Sibella said he was sorry. Minutes later, US District Court Judge Dolly M Gee sentenced Sibella to 12 months probation, a $9,500 fine and a $100 special assessment. And so ended the legal portion of Sibella's part in the Wayne Nix illegal gambling ring.

Sibella was sentenced late Wednesday afternoon in the US District Court for the Central District of California.

The lightly attended event was speedy and without drama. Sibella was found guilty of one count of failing to file a suspicious activity report while employed by MGM Grand. He gave Nix, a known illegal bookmaker, $120,000 in exchange for a casino marker.

Sibella, the first to be sentenced in a wide-reaching federal investigation around Nix, stood, head slightly bowed during the 18-minute sentencing.

When he was allowed to speak, he said this: “I want to apologise to the court, my family, my friends, the casino industry. Committing this crime has turned my life ups..