Tag: FanDuel

Missouri sports betting initiative won’t be most expensive in history, but the numbers are already stunning

Caesars Entertainment, DraftKings and FanDuel continue to dump dollars into campaigns for and against legal sports betting in Missouri.
The Missouri campaigns won’t be the priciest in history, or even for a sports betting initiative. But the totals are striking for a state that ranks 18th in population, with 6.2 million residents.

As of Friday (4 October), proponents and opponents had staked campaigns with more than $35m (£26.6m/€31.9m), according to the Missouri Ethics Commission website. Advertisements are flooding airwaves and mailboxes ahead of the 5 November election. To put that figure in perspective, a total of $32.7m was spent on eight proposed amendments or propositions in 2018, according to Ballotpedia.

The title for the most expensive initiative belongs to California, the biggest US state. In 2022, proponents and opponents spent more than $450m on two sports betting proposals. The ultimate result was that both failed spectacularly.

Caesars contribution totals $10.9m so..

Read more

Jaguars’ ex-employee sues FanDuel, others in hopes of reversal of fortune

A former NFL Jacksonville Jaguars employee who embezzled $22m to bet on sports is now suing FanDuel, his platform of choice, for $250m (£188.4m/ €226.4m). Amit Patel claims the company took advantage of his blooming addiction.
Patel, who is serving a six-and-a-half-year term at the Williamsburg Federal Correctional Institute Satellite Camp in South Carolina, filed his lawsuit against Boyd Gaming, FanDuel, Flutter and Fox Corp in federal court in New York on Tuesday (1 October).

He contends that not only did FanDuel employees know he was an NFL employee and should be excluded from betting, but also that the company ignored its own internal controls. Sports betting companies have internal controls and house rules that should guide them in dealing with bettors who may display signs of problem gambling.

In the lawsuit, Patel’s lawyer argues that “defendants knew and/or took intentional steps to avoid knowing that the money gambled by the plaintiff was stolen or otherwise not from a leg..

Read more

Flutter touts global success and future growth at annual investor conference

Wednesday (25 September) was a tour de force for global wagering giant Flutter, as the company's executives touted its worldwide success to investors and detailed plans for future growth.
The company held its annual investor day presentation in New York on Wednesday. Several executives presented details in an extensive breakdown about Flutter’s tentacles around the globe. Investors heard from group CEO Peter Jackson, FanDuel CEO Amy Howe, Flutter’s UK & Ireland and international CEOs Ian Brown and Dan Taylor and more.

Overall, the executives heralded the “Flutter Edge”. This, they said, is the formula that has vaulted the company into “gold-medal positions” in several large markets, such as the US, UK, Italy and Australia. It consists of four main tenets: product, technology, expertise and scale.

This quartet was referenced ubiquitously as the key driver for the company’s success. Throughout the presentation, the company’s widespread dominance of odds pricing and parlay produ..

Read more

FanDuel dominated Washington, DC wagering in August

In the first full month of an open competitive market in Washington, DC, FanDuel was the clear choice for bettors, taking $21.7m in bets. Four operators were live online.
Washington, DC also has four in-person only sportsbooks and the eight combined to take $40.6m in bets, the highest in history according to the Office of Lottery and Gaming (OLG) report. The group had a combined $4.5m in gross gaming revenue (GGR).

In June, the DC Council voted to open the market, which during its first three years, only had one digital option available throughout the District and that for just 11 months. GambetDC, a white-label platform provided by lottery provider Intralot, was live.

But issue after issue arose and, in March, the OLG announced that Intralot was preparing to take the platform down and replace it with FanDuel. The wagering giant subcontracted with Intralot, but its run as a monopoly was short-lived. FanDuel went live in April, but on 15 July the market opened and the OLG declined t..

Read more

Flutter’s Olympics betting handle increased threefold at Paris 2024

Flutter Entertainment has revealed its global handle for the Paris 2024 summer Olympic Games more than tripled from the last edition of the Games.
The group did not disclose exactly how much its customers around the world bet on Paris 2024 in its report.

The increase in handle, Flutter said, was due to growth within new markets. It highlighted the US, with 23 states now offering legal sports betting, compared to 10 at the Tokyo Games. However, it also noted the value of bets placed through its FanDuel brand in those 10 states more than doubled.

Flutter said Paris 2024 also benefit from more favourable viewing times for its customers in both Europe and the US. In addition, it noted an “abundance” of dramatic storylines that captured the attention of bettors.

“Many people who aren’t typical sports fans are Olympics fans,” FanDuel sports trader Eric Gerson said. “It’s a unique chance to branch out to new audiences we wouldn’t normally reach.”

Popularity of parlay bets rockets for Flu..

Read more

With NFL kickoff approaching, US sportsbooks gear up for ‘No 1 acquisition” opportunity

Fanatics Sportsbook and FanDuel are the first major US sportsbooks to announce marketing offers ahead of the NFL season. Both are revisiting past successful campaigns in an effort to land new customers.
The lead-up to NFL kickoff is the biggest customer acquisition opportunity of the year for US sportsbooks.

“Football is always the most competitive season,” FanDuel CEO Amy Howe told Yahoo Finance ahead of the 2022 NFL season. “It is the number one acquisition moment for, candidly, all sports betting operators.”

Traditionally, the NFL season accounts for 35% of US sportsbook revenue, according to multiple sources. It is then, by definition, the time of year with the highest customer-acquisition spend. For the period of 1 September 2023-26 December 2023, the Public Gaming Research Institute reported that US sportsbooks spent $237.8m on television advertising. For the same time period, Pennsylvania’s wagering operators claimed about $117m in promotional credits.

Fanatics Sportsbook ..

Read more

Michigan online gambling, sports betting AGR up YoY and month over month

Michigan's online gambling industry continues to grow, as July igaming and digital sports betting adjusted gross receipts (AGR) grew a combined 3.2% over June.
In addition, compared to July 2023, online gambling AGR was up 24.7% and sports betting was up 5.2%, according to the Michigan Gaming Control Board (MGCB), which released results on Tuesday (20 August).

But the big news was wagering hold. Digital sports betting operators recorded an 11.3% win rate in July, the fourth consecutive month of double-digit hold, according to the Sports Handle revenue database. That’s the second-highest hold since digital operators went live in January 2021.

The operators’ most successful month for hold was September 2022 – the second football season during which digital betting was live. That month, operators kept 13.15% of handle.

Overall, Michigan online gambling commercial and tribal operators reported a combined $220.9m (£169.4m/€198.4m) in gross receipts. Michigan has three land-based ..

Read more

State of the Union: DraftKings’ missteps, Missouri ballot measure

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.
DraftKings has “no excuse” to consider surcharge “cash grab”
Less than an hour after Flutter’s second-quarter earnings call ended on Tuesday, DraftKings announced that, after hearing customer feedback, it will back off plans to impose a winners’ surcharge. The company announced the idea in early August, only to get swift and negative feedback.

Wall Street reacted positively on Wednesday. DraftKings’ shares were up as high as $33.50 per share before they settled at $32.06, up nearly 2%. While Rush Street Interactive and Penn Entertainment previously said they would not follow DraftKings’ lead, the company was clearly waiting to see how FanDuel would react.

“We have no plans to introduce a surcharge to winners,” CEO Peter Jackson said during the Q&A portion of the call. He then declined to entertain the issue..

Read more

Flutter beats street and won’t tax winners in the US; DraftKings backs off plan

Flutter CEO Peter Jackson said on Tuesday (13 August) that his company has no plans to follow DraftKings' lead with a winners' surcharge. The company, the market-share leader in the US, reported second-quarter results that exceeded analyst expectations and raised earnings guidance for FY2024.
DraftKings in early August announced that it will introduce a winners’ surcharge in four high-tax states beginning 1 January 2025. Industry watchers have since been waiting to see if other companies, and Flutter in particular, would follow suit.

“We have no plans to introduce a surcharge to winners,” Jackson said during the Q&A portion of the call. He then declined to entertain the issue further when others asked.

Less than an hour after the Flutter call ended, DraftKings released an announcement saying it would not move forward with the idea.

DraftKings Statement on Gaming Tax Surcharge pic.twitter.com/cucbsQJIVD
— DraftKings News (@DraftKingsNews) August 13, 2024

Other companie..

Read more

State of the Union: Nebraska slow down, Penn eyes Alberta, FanDuel sued

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 digital wagering stalled in Nebraska
Nebraska lawmakers don’t seem ready to introduce digital sports betting, although the state’s traditionally anti-gambling governor is now supportive. Gambling proceeds are earmarked for property tax relief, which is a priority for lawmakers.

Legal digital sports betting is stalled in Nebraska. The state legislature has been in special session since 25 July. The General Affairs Committee held a hearing on the subject last week. But since then, lawmakers appear divided.

One source said that Governor Jim Pillen, traditionally anti-gaming, now supports an expansion. Pillen previously said that he plans to introduce legislation in January. He appears open to any gambling expansion to increase state tax revenue. Friday is day 10 of the special session, which does not have ..

Read more

FanDuel took $78.5m in handle during its three-month run as DC’s sole digital platform

FanDuel finished out its short-lived run as the sole city-wide digital sports betting provider with $23.2m in handle for June and nearly $10m for two weeks in July. The DC Lottery released the revenue reports for the operator this week.
FanDuel earlier this year took over digital sports betting for the lottery, which previously used the much-maligned GamBetDC app provided by contractor Intralot. More than four years after launching GamBetDC, the lottery announced in March that it had subcontracted with FanDuel to take over online wagering. FanDuel went live in April.

Between then and now, the DC Council approved a more competitive market and the lottery allowed Intralot’s sports betting contract to expire on 15 July. Because Intralot was no longer providing digital sports betting services to the lottery, FanDuel temporarily shuttered before relaunching through a partnership with Audi Field days later.

DC sports betting revenue is currently reported by two agencies. The DC Lottery ..

Read more

Ohio: FanDuel passes DraftKings to retake the lead in June

Flutter Entertainment’s FanDuel retook the lead in the Ohio online sports betting market in June, a month in which statewide revenue and handle fell to a calendar-year low.
Players in Ohio spent a total of $529.8m (£413.6m/€490.7m) across online and retail during June. This is 46.4% ahead of last year but 13.4% behind May and lower than any month so far in 2024.

Online betting accounted for $516.1m of all bets in June, with retail contributing $13.7m.

Players won $473.6m while $5m worth of wagers were voided. This left $51.2m in gross gaming revenue, up 57.1% from last year but 24% less than May’s total.

Of all gross gaming revenue in June, $50.5m came from online betting and $724,376 retail sportsbooks.

June’s results mean for the year-to-date, gross gaming revenue in Ohio stands at $435.6m. This includes $428.5m from the online market and $7.1m the retail sector.

FanDuel leads the Ohio pack in June
Looking at individual operators, FanDuel recovered from its second-placed finish ..

Read more

Want To Keep Up To date with our latest news and information? Please enter your email address below to be added to our mailing list

Bookielink.com is operated by Intraseculink Ltd, Registration Number: HE356617, 176 Athalassas Avenue, Office 401, 2025, Strovolos, Nicosia, Cyprus. BLUEINIC B.V. with Registration number 140279 and registered address at Abraham Mendez Chumaceiro , Boulevard 50, is licensed under Antillephone N.V. ,holder of Gaming License #8048/JAZ of the Central Government of the Netherlands Antilles. BLUEINIC B.V. is licensed and regulated in virtue of license number #8048/JAZ2016-030 granted by the Government of Curaçao to BLUEINIC B.V. The license was issued on ‎08-06-2016.

Bookielink.com © 2024 All rights reserved.