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September 16, 2024

Weekend Report: Caesars launches retail betting in Maine; talk of Newfoundland casino

Welcome to the Weekend Report, where iGB looks at the news that you may have missed over Friday, Saturday and Sunday. This week, we cover Caesars launching in-person betting in Maine, reports of a new casino in Newfoundland and the start of SkyCity’s temporary closure in Auckland.
Caesars first to launch retail sports betting in Maine
First off, Caesars has become the first to operator to roll out retail sports betting in the state of Maine. The Portland-based Oddfellahs sportsbook officially opened on 13 September and is operating in partnership with First Tracks Investments.

Portland mayor Mark Dion placed the first ceremonial first bet at the site, which features self-service betting kiosks and a ticket window on-site. Cash deposits and withdrawals for Caesars Sportsbook mobile accounts is also available.

Online sports wagering with Caesars has been available in Maine since November of 2023.

Local mayor proposes new casino in Newfoundland
North of the border, reports of a poten..

September 13, 2024

State of the Union: Fox’s FanDuel play, bettors want cash from athletes, questionable political donation

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.
Fox aiming to secure stake in FanDuel
The Fox Corporation this week confirmed plans to attempt to buy into FanDuel at a deeply discounted rate. How discounted? About $2.2bn below market value in the current conditions.

When Flutter Entertainment bought The Stars Group in 2020, it created a situation that would allow Fox Corp to buy up to an 18.6% stake in FanDuel. Earlier this week, at the Goldman Sachs Communacopia and Technology Conference, Fox CEO Lachlan Murdoch confirmed that his company is now moving forward with that option, reports Sportico.

According to Murdoch, analysts value FanDuel at $35bn. At that valuation, the 18.6% stake would be worth $6.5bn on the open market. Fox could buy it for about $4.3bn under the terms of the agreement. Fox, which previously had wagering platforms in several states,..

September 12, 2024

GSGB H1: UK gambling participation flat as nearly a third of customers play non-lottery verticals

The UK Gambling Commission today published its latest iteration of the Gambling Survey for Great Britain (GSGB), looking at gambling participation across the UK between 15 January and 28 April. Participation remained flat on 2023, as majority of participants gambled to win “big money”.
The data follows the annual GSGB survey published for the first time in July and looks at how much UK adults are gambling.

Participation for the actual survey sample increased 8% as the sample size grew from 4,801 in the GC’s equivalent report last year (January to April), to 5,191 this year.

Gambling participation remains flat across the board
Overall gambling participation between January and April was the same as last year at 48% across the entire sample. This dropped to 27% when excluding lottery.

When taking a deeper look at online gambling rates, 16% of participants had gambled via desktop or mobile apps in the last four weeks (excluding lottery). Broken down by sex, slightly more men (20%) p..

September 12, 2024

Apuesta Total CEO warns against reintroduction of consumption tax on Peru gambling

Apuesta Total CEO Gonzalo Perez has warned the Peru government against the introduction of a consumption tax on gambling operators.
Law no 31557, which looked to regulate online gaming and sports betting in Peru, came into effect on 9 February. This sets out a tax of 12% on gross gaming revenue (GGR), although legislation originally included a 1% tax on the value of every bet, or consumption tax.

That 1% consumption tax was removed from legislation in July 2021. However the Peru congress is now discussing its reintroduction, with the potential rate not yet confirmed.

Perez fears this could be hugely detrimental to the licensed gambling industry and is urging the government to reconsider. “The consumption tax is, depending of course on the percentage they will apply and depending on the base fee, very harmful for us,” Perez tells iGB. “We are trying to reach the government to talk, to explain the possible impact.

“The proposed 1% consumption tax discussed in congress was crazy beca..

September 11, 2024

Apuesta Total CEO: There isn’t room for everyone in Peru’s regulated market

Apuesta Total CEO Gonzalo Perez expects three or four operators will dominate the newly-regulated online market in Peru, while the remaining brands will fight for single-digit market share.
Law no 31557 came into effect in Peru on 9 February of this year as the government sought to regulate online gaming and sports betting in the country.

Operators active in Peru before the announcement had until 10 March to submit a licence application. Gambling regulator Mincetur warned those who did not comply could face a fine of up to Sol990,000 (€245,394/£212,401/$257,838) or criminal prosecution.

According to the law, Mincetur will process licence applications within 30 business days of submission. Perez said operators have a 15 November deadline to submit final certifications for their platform and content. Failing to meet that deadline could result in authorisation being revoked.

During that initial window in March, 145 licence requests were submitted. Meanwhile new entrants to Peru were g..

September 10, 2024

Betano leading in Brazil with 23% of grey betting market share ahead of Bet365

Betano is currently leading the way in Brazil with a 23% share of the grey wagering market, a new white paper from OpenBet has indicated using research from global industry data consultancy H2 Gambling Capital.
Offering exclusive data analytics and projections from H2GC, the OpenBet report revealed Betano 23%of the Brazil betting market, with Bet365 following closely behind with a 20% share.

However, the report also outlined that with the legal market set to launch on 1 January 2025, the Brazilian industry will be increasingly competitive as local brands as well as a raft of international brands seek to get their share of an onshore market that H2GC predicts could reach $10.1bn (£7.7bn/€9.2bn) in gross gaming revenue (GGR) by 2029.

That would represent growth of nearly double, with H2GC estimating Brazil’s legalonline sports betting and igaming market will be worth around $5.6bn in 2025 GGR.Around $3bn of that will come from online sports betting, with igaming responsible for $2.6bn…

September 9, 2024

Weekend Report: Brazil names betting chief, Bet365 fined in NJ

Welcome to the Weekend Report, where iGB covers the news that you may have missed over Friday, Saturday and Sunday. This week, we look at a letter calling for Austrian gambling reform and Bet365 getting fined in New Jersey.
New secretary of sports betting named in Brazil
In this week’s Weekend Report, Giovanni Rocco Neto, previously a counsellor in Brazil’s ministry of sport, will oversee the promulgation of rules and wagering launch in Brazil, reports Insider Sport. Legal, live sports betting is set to launch in January and 114 operators have applied for licences. Neto will report to sports minister André Fufuca and will be independent of the secretariat of prizes and betting. His new title is national secretary of sports betting for the economic development of sport.

In his last role, he was the chair of the committee of integrity, rights and duties in betting and gaming.

NJ regulator fines Bet365
The New Jersey Department of Gaming Enforcement (DGE) last week fined UK-based Bet3..

August 30, 2024

State of the Union: California sports betting scandal, BlueBet exit, proposed MD regs

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.
Another California illegal bookie pleads
On Monday (26 August) professional poker player Damien LeForbes agreed to plead guilty to running an illegal sportsbook in California. His business is likely tied to Mathew Bowyer’s. Bowyer is the illegal California bookmaker who took wagers from former Shohei Ohtani interpreter Ippei Mizuhara. Bowyer last month agreed to plead guilty to multiple federal counts

Both operated illegal sportsbooks in Los Angeles and Orange counties in California and Clark County, Nevada.

LeForbes, according to Legal Sports Report, wagered $148 million at “Casino A”, as it is referred to in court documents. It’s possible that casino is Resorts World. A May Nevada Current story said he owed Resorts World $12.3 million. Resorts World was identified as a casino at which Bowyer laundered illeg..

August 28, 2024

AGA survey: US responsible gambling efforts improving, especially for sports betting

Ahead of September's Responsible Gaming Education Month initiative, the American Gaming Association (AGA) on Wednesday (28 August) released new research showing that RG efforts are improving in the US, for both land-based casinos and sports betting.
The survey, conducted online by Kantar between 31 July and 9 August, featured responses from 2,000 nationwide voters. Its results, the AGA said, highlighted several positive developments with regards to consumer trust with the casino and sports betting industries.

Overall, 75% of respondents said that gaming “behaves responsibly in the communities where it operates”. With sports betting specifically, 90% of respondents felt it was an acceptable form of entertainment and 75% support having legal sports betting in their state of residence. Sports betting is currently legal in 38 states plus Washington, DC. No new markets have legalised wagering so far this year.

The main theme of the AGA survey was responsible gambling – 65% of over..

August 27, 2024

Survey estimates 10% of Brazil population has suffered gambling-related financial issues

A survey by market research specialist Hibou has revealed 10% of the population in Brazil has endured financial problems from gambling ahead of regulation coming into force.
The survey, which included 2,839 respondents in Brazil from all social classes, studied the prevalence of gambling in the population.

The study found 68% of Brazilians gamble, with around 16% of respondents stating they had suffered from financial issues due to their gambling.

Is pre-regulation gambling causing social issues?
That equates to around 10% of the Brazilian population. While this may cause concern it is important to note it covers a period before the legal online market launches. The first legal bets will be placed on 1 January 2025, with 113 operators applying for a licence during the initial 90-day window of preference.

Of those who had endured financial problems from gambling, 32% stated they had sold assets to make up for their losses. Additionally, 29% borrowed from friends or family, while 25% ..

August 26, 2024

Weekend Report: Addabbo sounds off about NYC casino process, DraftKings stymied in court, Aristocrat’s new UK deal

Welcome to the Weekend Report, where iGB covers the news that you may have missed over Friday, Saturday and Sunday. This week, we look at an FBI arrest in DC, as well as a California bill that would allow tribes to sue cardrooms.
Frustration continues over NYC casino bid process
New York Senator Joe Addabbo continues to push for and vent his frustration about the status of three downstate NYC casino licences. Per Action Network, Addabbo was vocal during the Racing and Gaming Conference at Saratoga, NY earlier this month.

“Why not codify the timelines? Why not give definitive answers to why we’re not doing this on a timely basis when we did three licences upstate in a fraction of time?” Addabbo asked during a conference panel. “Because we’ll have this same panel here five years from now.”

At issue is the timing of awarding three casino licences. Eleven entities are bidding for the licences, which are currently scheduled to be awarded in the middle of 2025. Casinos would be able to op..

August 23, 2024

Don’t hold your breath on legal wagering in Texas next year

The heightened opposition to gambling in general – fueled by the casino debate – is now spilling over into the discussion around sports betting
The future of legalised sports betting in Texas has become entangled in a web of lobbying efforts and political manoeuvring centred around the more contentious issue of casino legalisation. The Lone Star State is the second largest in the US after California to not have legal sports betting. And it is facing increasingly complex challenges that could derail the prospects for legalisation in the near future.

According to a recent report from Eilers & Krejcik Gaming (EKG), a Southern California-based advisory firm specialising in the gaming industry, Texas has been removed from the list of states likely to legalise sports betting in 2025. The report highlights the growing influence of anti-gaming advocates and the intensified lobbying for casino legalisation as significant obstacles to the advancement of sports betting legislation. As a result, ..

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Tag: Casino