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October 14, 2024

Weekend Report: Bet365 enters Peru, South Korean celebrities caught up in illegal betting case

Welcome to the Weekend Report, where iGB looks at the news that you may have missed across Friday, Saturday and Sunday. This week: Bet365 launches in Peru, a Pakistan cricket legend is under fire for new ambassador role and South Korean celebrities are swept up in illegal gambling.
Pakistan cricket legend faces backlash over betting ambassador role
Starting in Asia, Pakistan cricket captain Wasim Akram has come under fire for taking on a new betting ambassador role with Baji.

India-facing Baji offers online sports betting and casino and has enlisted several celebrities to help promote its services. Akram is among those to come on board despite Pakistan having placed restrictions on promoting gambling.

Fans took to social media to criticise Akram after he shared a promotional video on social media. Questions were also raised as to why Akram is working with an operator that is not licensed in Pakistan.

Bet365 makes Peru move
Meanwhile, in South America, Bet365 has announced the launc..

October 11, 2024

State of the Union: Missouri campaign donations approach $50m, Florida opportunity?

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.
More money in Missouri
Casino and online gambling companies continue to pour money into campaigns for and against Amendment 2 in Missouri. The proposal, which will be on the November ballot, would legalise statewide mobile and retail sports betting.

Caesars Entertainment, which operates three casinos in the state, added another $3.3m (£2.5m/€3m) to Missourians Against the Deceptive Online Gambling Amendment on Monday (7 October). So far, the company is the only one funding the campaign and has staked it with with $14.2m to date. The Monday donation came via Caesars’ Tropicana St Louis property.

Under Amendment 2, Missouri casino companies would be entitled to one digital skin. When the issue was being considered in the state legislature, casino companies would have been able to get one skin per physical loc..

October 10, 2024

US September round-up: Tennessee, West Virginia and Detroit

Rounding up some of the latest monthly sports betting results in the US, iGB analyses figures from Tennessee, West Virginia and Detroit for September.
Tennessee sets new gross wagers record in September
Starting in Tennessee, the Volunteer State saw gross wagers hit an all-time high of $524.8m (£401.8m/€480.3m). This figure is narrowly higher than the existing record of $517.4m in November last year.

The September total also surpasses last year’s amount by 25.5% and is 52.5% higher than August this year. This is according to data published by the Tennessee Sports Wagering Council.

Tennessee does not publish data on monthly revenue. It does, however, detail gross handle, with this at $520.8m. This is after accounting for $3.9m in undisclosed adjustments.

As for tax, Tennessee was able to collect $9.6m in privilege tax from sports betting during the month. Tennessee operators are taxed at 20%.

West Virginia narrowly misses revenue record
Turning now to West Virginia, revenue fell ju..

October 8, 2024

Online casino drives Denmark gambling revenue to DKK571m in August

Gross gaming revenue (GGR) in Denmark reached DKK571m (£64.2m/€76.6m/$84.1m) in August as online casino growth offset declines elsewhere in the market.
The August total was 4.3% ahead of last year, according to data from Denmark regulator Spillemyndigheden. It was also 3.1% more than DKK554m in July of this year.

Growth was driven by a 20.8% year-on-year increase in online casino revenue to DKK299m in August.

This was also ahead of July by 5.3% and not far off the all-time monthly revenue record for the vertical. Spillemyndigheden reported DKK309m in online casino GGR in March of this year.

However, all other segments of the Danish market reported declines in August. The largest drop came in the sports betting sector, where revenue was 14% lower at DKK147m during the month. This was also 1.3% lower than in July.

Land-based woes continue in Denmark
As for the land-based sector, declines noted in recent months continued in August. Physical slot machine GGR was down 0.2% to DKK96m dur..

September 27, 2024

State of the Union: UNLV QB, G2E headliners and 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.
Circa tries to remedy UNLV QB mess
A Circa vice-president reportedly offered to pay UNLV quarterback Matthew Sluka $100,000 (£74,730/€89,550) that Sluka said he was promised by an assistant coach at the school. But by the time the offer came, Sluka had already redshirted. He said he was leaving the Rebels, who have started the season 3-0.

Per the Action Network, Circa Sports VP of Operations Mike Palm contacted the school midweek after having a conversation with Circa CEO and owner Derek Stevens. Palm told the outlet that he talked with Stevens “about assisting the school in keeping its starting quarterback”.

“I told Derek, ‘Why don’t we take a run at it?’” Palm told Action Network. “’The kid’s claiming he’s owed $100,000. Are you willing to make a call to UNLV to help out?’”

But Sluka and UNLV had already ..

September 27, 2024

Nevada August betting revenue jumps 39.7% while slots hit total GGR

Rounding up some of the latest monthly state results in the US, iGB takes a closer look at how a drop in slots activity saw overall gambling revenue fall in Nevada in August, while Mississippi reported growth within its retail sports betting market.
Mobile sports betting in Nevada was up 13% on 2023 to $14.8m, data from the Nevada Gaming Control Board shows.

Baseball reaped the highest revenue of all sports during the month, making up $9.7m of the vertical’s revenue in August, while American football betting hit $8.7m. However, hockey and basketball betting activity both generated losses for operators.

Betting across other sports generated $7.6m in additional revenue, with the Control Board noting that $14.8m of all wagering revenue came from mobile.

Meanwhile revenue from sports betting pools, which is counted under table games, jumped 38.9% year-on-year to $25m in August.

The Control Board does not disclose handle details for sports betting.

Nevada revenue down again in August
..

September 20, 2024

State of the Union: Status of ESPN Bet in NY, North Caroline retail, OK bill coming?

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.
ESPN Bet about to get closer to NY launch?
The New York State Gaming Commission Monday (23 September) will consider Penn Entertainment’s application to take over the WynnBet New York licence. The plan has been in the works since WynnBet exited the New York market earlier this year. Should Penn get approval, it will be able to launch its ESPN Bet platform in the biggest competitive market in the US. New York law caps the number of platforms at nine. Licences only come available if a company exits the state.

Penn executives on the company’s second-quarter earnings call pointed to a September launch, potentially by the start of football season. Should the regulator approve the licence transfer, Penn will still have a few steps to take before it could launch ESPN Bet.

Every major US operator is live in New Yor..

September 19, 2024

Pennsylvania igaming revenue falls just short of monthly record in August

Pennsylvania reported a year-on-year and month-on-month increase in gambling revenue in August, driven by a near-record performance from the state’s igaming market.
Total gambling revenue in Pennsylvania in August hit $525.5m (£397.1m/€472.1m). This is 14.9% ahead of last year and 4.9% more than July’s total for this year.

Ongoing igaming growth in Pennsylvania

The stand-out figure in August was igaming revenue, which amounted to $183.7m. Not only is this 29% more than last year but also the second-highest monthly total on record, just short of March 2024’s $191.1m haul.

Breaking this down, online slots generated $138.3m of all igaming revenue in August. Table games drew $43.2m, with poker revenue topping $2.2m for the month.

As has been the case for some time, Hollywood Casino at Penn National Race Course is still the market leader here. For August, it posted $72.1m in online casino revenue. Valley Forge Casino Resort remains second with $46.0m, then Rivers Casino Philadelphia on..

September 18, 2024

Michigan: Igaming growth drives online gambling revenue increase in August

The Michigan Gaming Control Board (MGCB) reported a year-on-year and month-on-month increase in online gambling revenue in August, driven by growth within the igaming sector.
Igaming gross receipts and gross online sports betting receipts from commercial and tribal operators in August amounted to $224.0m (£170.2m/€201.5m). This is 27.7% more than last year in Michigan and 1.4% higher than in July this year.

Data, published by the MGCB on Tuesday (17 September) shows igaming accounted for $196.7m of all revenue during August, up 29.2% year-on-year. Gross sports betting receipts were also 18.1% higher for the month at $27.4m.

The MGCB also sets out adjusted gross receipts (AGR), which account for promotional spending in Michigan. For August, the total for the state’s online gambling market was $193.2m, a rise of 26.2% on last year’s total.

Of this, $176.9m came from igaming, a year-on-year rise of 30.9%. In terms of sports betting, AGR reached $16.3m, up 2.5% from the previous year.

September 17, 2024

Massachusetts hits lowest sports betting revenue this year in August

Sports betting revenue in Massachusetts fell to a calendar year-low during August, though the state was able to report year-on-year growth across both revenue and handle.
Combined taxable online and retail revenue in August reached $33.3m (£25.2m/€29.9m). This is 51.4% more than in Massachusetts last year but 19.2% behind July – and the lowest monthly figure so far this year.

Online betting accounted for $32.9m of all revenue during the month, with retail’s share at just $381,134.

Handle-wise, the $447.3m spent across online and retail was some 42.1% ahead of last year. It is also 8.6% more than the $411.8m wagered on sports in July this year.

Players spent a total of $439.7m betting online during August, in addition to $7.6m at retail sportsbooks across Massachusetts.

In terms of hold, the overall figure for the state’s market in August was 7.71%. Online hold was slightly above this at 7.74%, with retail lower at 6.12%.

DraftKings still the one to beat in Massachusetts
As for in..

September 17, 2024

New Jersey: Record igaming revenue drives growth in August

Gambling revenue in New Jersey increased 4.4% year-on-year in August, helped by a record performance by the Garden State’s igaming market.
Total revenue for August reached $555.1m (£420.0m/€498.7m). This is ahead of $531.6m in New Jersey last August and also 1.3% more than $547.8m in July this year.

Without doubt, the stand-out figure for New Jersey in August was igaming revenue. Here, revenue jumped 27.8% year-on-year to $198.4m – a new monthly record for the state.

This includes $196.0m in internet slots revenue, an increase of 28.2%. On the other hand, online peer-to-peer remained level at $2.4m for the month.

Golden Nugget was again the leading master licensee in the igaming market. Skins operating via its licence, which in addition to Golden Nugget are FanDuel, Betway and BetRivers, generated $55.0m in revenue.

However, as was the case in July, DraftKings was the leading igaming operator. It posted $43.2m in online casino revenue, ahead of FanDuel on $41.3m. Another brand of n..

September 16, 2024

Illinois regulator tightens wagering and casino advertising rules

Illinois regulators late last week became the latest to revamp advertising and marketing rules for sports betting and casinos. The move follows a trend in the US that regulators say aims to protect minors and those at-risk from potential harms.
The Illinois Gaming Board (IGB) on Thursday (12 September) voted in more strict measures around wagering, casino advertising and video gaming. The new guidelines mirror those in Massachusetts and Ohio. Those two states are recognised to be the most stringent when it comes to advertising and marketing.

The IGB previously did not have such guidelines for casino and video gaming.

The board voted the same day that two US lawmakers introduced legislation that would, in part, create national gambling advertising guidelines.

The overall document now seeks to consider digital sports betting and advertising. But the rules apply to the physical and digital worlds.

IGB CEO Marcus Fruchter said the new rules were designed to “include additional safeg..

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