Betting News – Page 76

February 12, 2024

Iowa sports betting handle and revenue rise in January

Sports betting handle and revenue in Iowa both increased year-on-year in January but fell on a month-on-month basis from December.

Total consumer spending in Iowa during January was $259.5m (£205.4m/€240.5m). This is 11.1% ahead of $233.6m in January 2023 and but 8.2% behind $282.7m in December.

Some $238.4m was spent wagering on sports online, while the remaining £21.1m was bet at retail sportsbooks.

revenue dipped 8.2% compared to december 2023

As for revenue, this amounted to $22.1m in January. The figure is 33.9% clear of $16.5m in January last year but 16.0% short of December’s $26.3m haul.

Online wagering accounted for $20.5m of all monthly revenue in Iowa, with retail’s share at $1.5m.

FanDuel and Diamond Jo Dubuque remains Iowa frontrunners

In terms of individual operators, FanDuel and Diamond Jo Dubuque remain the leaders in Iowa by some distance. For January, the partnership generated $8.0m from $68.0m in bets.

DraftKings and partner Wild Rose Jefferson followed in a ..

February 9, 2024

BetMGM signs exclusive sports betting partnership with X

BetMGM has announced a partnership with the social media platform X, formerly known as Twitter, becoming its exclusive live odds sports betting partner.

BetMGM, a joint venture between Entain and MGM Resorts, labelled the move a “first-of-its-kind” partnership, with BetMGM’s odds and branding integrated onto the social media platform in the United States.

The visible odds will initially be just professional American football, although each of the major professional and college sports are expected to follow in the next couple of weeks.

BetMGM chief executive Adam Greenblatt said: “X is the centre of the sports world’s conversation 24 hours a day, seven days a week. Being directly accessible within that forum is an unprecedented opportunity to expand our reach to a passionate and engaged audience.

Linda Yaccarino, X chief executive, added: “Sports never sleep on X and now with our strategic partnership with BetMGM, fans are practically in the front row. We’re bringing sports fans on ..

February 8, 2024

Bet365 extends US reach with Arizona launch

Bet365 has launched online sports betting in Arizona through a partnership with the Ak-Chin Indian community, extending its reach in the US to a ninth state.

Players in Arizona can now place pre-event and in-game wagers across a range of sports with Bet365. Additional offerings available to players in the Grand Canyon State include same game parlay, cash out and edit bet.

Bet365’s entrance into Arizona follows launches in Kentucky, Louisiana, Virginia, Ohio, New Jersey, Iowa, Colorado and, last month, Indiana.

The launch comes ahead of this weekend’s Super Bowl LVIII, the end-of-season showpiece for American football’s NFL.

“Like Bet365, the Arizona sporting scene is never ordinary and boasts several professional and college teams, earth-shaking, fan-favourite moments and exhilarating championship events,” a Bet365 spokesperson said.

“Just in time for the big game, sports fans in the Grand Canyon State can enjoy the Bet365 experience. This includes market leading offerings like ..

February 7, 2024

Episode 27: Representative Dina Titus on the Gaming Caucus and GRIT

The World Series of Politics welcomes its very first congresswoman, with Representative Dina Titus joining Brandt Iden and Brendan Bussmann.

As representative for Nevada’s 1st congressional district and co-chair of the Congressional Gaming Caucus, she is a crucial industry advocate at federal level.

Tackling the excise tax

Representative Titus is also leading the charge to repeal the 0.25% federal excise tax on sports betting handle.

Dina Titus serves as US Representative for Nevada’s 1st congressional district

The money is deposited into the General Fund, rather than being used to tackle illegal gambling. Why not cut the tax and allow legal businesses to better compete against offshore operators by offering a more attractive product, she asks.

Listen to the World Series of Politics on Apple Podcasts

GRIT is not the solution

However the representative is an opponent of the Gambling Addiction Recovery, Investment and Treatment Act (GRIT Act), which aims to reallocate that ta..

February 7, 2024

Fanatics replaces PointsBet in Iowa

Fanatics Betting and Gaming (FBG) has announced the launch of its sportsbook in Iowa, replacing the PointsBet brand in the Hawkeye State.

Players in Iowa can now download and place bets on the Fanatics Sportsbook mobile app. Existing PointsBet customers’ usernames, passwords, account balances, rewards points and responsible gaming settings will automatically migrate to the Fanatics Sportsbook.

The existing PointsBet retail sportsbook at Catfish Bend Casino will also be rebranded as a Fanatics Sportsbook. This project will include installing new self-service betting kiosks from Suzohapp.

Iowa marks the 12th state for the Fanatics Sportsbook. It is also the latest phase of FBG phasing out the PointsBet brand across the US following its acquisition of PointsBet US in August 2023.

The Fanatics Sportsbook is also online in Colorado, Connecticut. Kentucky, Maryland, Massachusetts, Ohio, Pennsylvania, Tennessee, Vermont, Virginia and West Virginia. In addition, retail betting venues opera..

February 6, 2024

AGA: Super Bowl LVIII bets to reach $23.10bn in US

Americans will wager $23.10bn (£18.39bn/€21.52bn) on this weekend’s Super Bowl LVIII NFL end-of-season showpiece, according to the American Gaming Association (AGA).

The San Francisco 49ers face the Kansas City Chiefs in Super Bowl LVIII on 11 February at Nevada’s Allegiant Stadium. Ahead of the game, the AGA surveyed 2,204 adults to predict wagering activity.

Findings from the survey suggest $16.0bn more will be bet on Super Bowl LVIII than last year’s game. The AGA also said a record 67.8 million people are expected to place a wager, up 35.0% from Super Bowl LVII.

Of those expected to wager, 42.7 million will do so online, at a retail sportsbook or with a bookmaker. This would be 41.0% more than in the previous year. Some 36.5 million plan to bet casually with friends or via a pool or squares contest, a rise of 32.0%.

As to where players will bet, 28.7 million, or 11.0% of all bettors, will do so with a licensed online sportsbook. The AGA said this shows Americans are continuing..

February 6, 2024

Nevada gambling revenue hits record $15.52bn in 2023

Gambling revenue in Nevada reached an all-time high of $15.52bn (£12.37bn/€14.46bn) in 2023, surpassing the previous annual record by 4.6%.

The 2023 total was comfortably ahead of the existing Nevada record of $14.84bn, which was set in 2022.

Breaking down the past year, land-based slots were the primary source of revenue. The $10.28bn generated in 2023 was 2.8% higher than in the previous year. Some $5.97bn of all slot revenue came from multi-denomination games, while penny slots drew $3.15bn.

Baccarat revenue falls just short of $1.50bn in 2023

Elsewhere, table, counter and card games revenue, which also includes sports betting, hit $5.24bn. This was 8.5% ahead of the $4.83bn posted in 2022.

Baccarat was responsible for $1.49bn of table, counter and card games revenue in Nevada in 2023. This was 28.2% higher year-on-year.

A further $1.33bn came from blackjack, up 0.8%, while craps revenue increased 4.6% to $467.5m and roulette 1.8% to $460.3m.

Nevada mobile sports betting reve..

February 2, 2024

Colorado smashes monthly betting handle as $716.4m wagered in December

Players in Colorado wagered a record $716.4m (£565.8m/€663.3m) on sports in December, beating the previous monthly high by more than $100.0m.

The December handle beat the existing record of $608.5m in November 2023 by 17.7%. It was also 38.3% higher than the $518.1m bet in Colorado in December of the previous year.

Some $712.0m of all wagers placed in December were via the internet. Retail venues took just $4.5m in bets in comparison.

Revenue down year-on-year

As for gross gaming revenue, this amounted to $40.5m for December, 41.6% more than the $28.6m generated in November.

colorado’s december gross gaming revenue was 41.6% higher than the previous month

However, despite taking far more bets than in December 2022, this was not reflected in year-on-year revenue comparison. Revenue was actually 0.1% less than the $40.9m in the previous year.

Online wagering accounted for almost all monthly revenue, with retail’s contribution at just $63,546.

As the National Football League seas..

February 2, 2024

Georgia senate passes amended online sports betting bill

The Georgia senate has voted through a bill that would legalise online sports betting in the Peach State, but with an added requirement for a constitutional amendment approved by voters.

Senate Bill 386 was filed last week, seeking to regulate online sports wagering in Georgia. It has moved through the senate quickly and was approved yesterday by a vote of 35-15.

However, this was not before senators added the amendment, which requires the support of 38 senators for the bill to pass. The amendment allows proceeds of betting to be directed to other purposes including needs-based scholarships.

Following senate approval, the sports betting bill now progresses to the Georgia house of representatives for further discussion.

What is in the Georgia sports betting bill?

Key language in SB386 includes that the bill would cover online sports wagering. Players would need to be at least 21 to bet and physically located inside Georgia.

The Georgia Lottery Corporation would assume responsibili..