Online sports betting – Page 24

June 10, 2024

New York sports betting revenue tops $200m in May

In May New York saw mobile sports gross gaming revenue (GGR) top the $200m (€185.6m/£157.2m) mark for the first time in more than a year.

According to figures released by the New York State Gaming Commission, the total figure was $203.3m in May. This was only the second time GGR was above $200m in a month, and the first since the $211.5m achieved in January 2024. The GGR figure was also up by 33.8% compared to May 2023.

New York mobile sports betting handle was $1.97bn during the month. This was up 45.9% year-on-year and the biggest amount since the record month of November 2023.

Net revenue to platform provider was $99.6m. This was also the second highest figure since New York’s legal sports betting market was introduced at the start of 2022.

FanDuel still top in New York sports betting

FanDuel remained the biggest winner in New York during May, achieving GGR of $88.0m. This was from handle of $747.5m. While second placed DraftKings took in handle of $812.3m, GGR was $84.2m.

Cae..

June 7, 2024

Arizona Department of Gaming opens new event wagering application window

The Arizona Department of Gaming (ADG) will accept event wagering applications between 8 July and 19 July, the agency announced on Friday (7 June). The application window will close at 5pm local time on the 19 July. There are currently 17 operators live in the state and state law allows for up to 20 digital platforms.

The ADG will consider a minimum of one event wagering application each for a tribal casino and professional sports franchise.

In Arizona, event wagering operators must be tethered to a professional sports franchise or Indian tribe. The law allows for 10 licences each for pro sports venues and tribes. Nine tribal licences are spoken for, and eight of the pro-franchise licences have been issued. That means there is one tribal licence and two pro-franchise licences available.

A key question is whether or not there are anymore professional sports venues that could even qualify for a licence under the law.

Will anyone apply for pro-franchise licence?

The NFL Arizona C..

June 7, 2024

Fourth suspect in NBA gambling scandal turns himself in

On Friday (7 June) the US Attorney's office for the US District Court for the Eastern District of New York announced that the fourth, and last, suspect in the NBA sports betting scandal has turned himself in. Ammar Awawdeh is scheduled to be arraigned in Brooklyn Federal Court later today.

Awawdeh, Timothy McCormack, Mahmud Mollah and Long Phi Pham all allegedly conspired with former NBA player Jontay Porter. According to the complaint, the NBA gambling scandal revolved around Porter twice removing himself from games so that “under” bets made by the defendants would pay.

The four defendants bet on Toronto Raptors games which were played on 26 January and 20 March. They wagered with legal operators DraftKings and FanDuel, who ultimately reported suspicious activity to the NBA and the International Betting Integrity Association (IBIA).

In April NBA commissioner Adam Silver banned Porter from the league for life. Porter isn’t directly named in the complaint, but is referred to ..

June 7, 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.

NY to require gambling hotline number on ads

New York is poised to become the next state to tighten gambling advertising guidelines after the senate passed a bill that would require any ads to have warnings about “harmful and addictive behaviour”.

AB 1118 originated in the house, passed the senate and was sent back to the house for final consideration. It’s now headed for the governor’s desk. The key requirement is that a problem gambling hotline number be posted on every advertisement. .

Another bill – that would have required that all applications for three downstate casino licences be submitted by 31 August – did not get a final vote before adjournment on Thursday (6 June). The bill, SO 9673, would also have required final approval for the licences by 31 December 2025.

Still waiting…

Illinois Govern..

June 7, 2024

North Carolina betting revenue drops 40.1% in second full month

North Carolina reported gross gaming revenue (GGR) of $63.1m (£49.6m/€58.4m) in May in what was the second full month of wagering in the Tarheel State.

The $63.1m figure fell 40.1% short of April’s total of $105.3m. April was the first full month of betting in North Carolina after operators went live on 11 March.

The May revenue was also 5.1% behind the $66.5m generated in March despite the market only launching 11 days into the month. However, that three-week period included March Madness, with all three North Carolina teams – UNC, NC State and Duke – playing in the tournament.

Handle, meanwhile, stood at $525.5m, again the lowest total yet. The figure was 19.0% short of April’s $648.9m and 20.3% behind March’s $659.3m.

A total of $458.7m was paid out in winnings in May, a hold percentage of 12.3%. In April, operators reported a hold of 17%.

The state didn’t disclose how much tax revenue had been received. Digital operators are taxed at 18% of GGR in North Carolina.

Promos again..

June 6, 2024

Two more arrested in NBA betting scandal

Two more people were arrested and arraigned in the NBA sports betting scandal on Thursday (6 June) morning, the US Attorney's office for the Eastern District of New York announced. That brings to three the number of conspirators arrested. One still remains at large.

Timothy McCormack and Mahmud Mollah were both released on $50,000 bond on Thursday morning. They were questioned by federal investigators as early as 30 May, according to the complaint.

Both allegedly bet on games in which then-Toronto Raptor Jontay Porter removed himself early so certain prop bets would pay. Porter is not directly named in the complaint, but the complaint refers to an NBA player who was banned for life. NBA commissioner Adam Silver issued Porter with a lifetime ban in April. He is the only player in the league to have been banned for betting thus far.

Porter was found to have bet on Raptors games and shared personal health information with his co-conspirators.

Two suspects won more than $1m tota..

June 5, 2024

Major League Baseball bans Padres’ Marcano for life, suspends four others

On Tuesday (4 June) Major League Baseball became the latest US professional sports league to ban players for violating gambling rules in the post-PASPA era. San Diego Padres infielder Tucupita Marcano was banned for life after it was revealed that he had bet on his own team.

Four other players, including Oakland Athletics pitcher Michael Kelly, were suspended for up to a year, according to MLB.com. Prior to Tuesday, every other major professional sports league had banned at least one player. Marcano becomes the second player in a US pro league to be handed a lifetime ban this year. On 17 April, the NBA banned Jontay Porter for life after it was discovered that he had bet on the NBA and had shared personal health information with another bettor.

Last year, the NFL suspended 10 players for up to a year for various violations of league gambling rules. All have since been reinstated. The NHL suspended Shane Pinto for violating league rules last October. In addition, the PGA Tour last O..

June 4, 2024

Spain online gambling revenue rises to €350.7m in Q1

Gross online gambling revenue in Spain amounted to €350.7m (£298.6m/$381.6m) during Q1, a 15.1% increase from the opening quarter of last year and 11.2% ahead of Q4.

The Q1 total was comfortably ahead of €313.3m in the same period last year. It is also more than the €315.3m generated in Spain in the final quarter of 2023.

Casino remains the primary source of revenue, generating €167.8m in Q1, or 47.8% of all market revenue. The quarterly total was 17.0% higher than last year but 2.1% behind Q4.

Year-on-year casino growth was helped by a 15.0% rise in slots revenue and 22.2% rise in roulette revenue. Growth was also reported across blackjack and roulette.

Elsewhere, sports betting revenue amounted to €150.3m, representing 42.9% of overall revenue for the quarter. This is 15.4% higher than Q1 last year and also 31.0% ahead of Q4.

Within this market, pre-match betting activity rocketed by 588.8% year-on-year but in-play bets were down 31.7%. Other bet types edged up 1.6% while horse ..

June 3, 2024

Ohio sports betting revenue hikes 15.8% to $73.9m in April

Sports betting revenue in Ohio reached $73.9m (£58m/€68.1m) in April, a 15.8% month-on-month increase.

The April revenue was a sizeable rise on the $63.8m reported in Ohio in March. The figure also takes Ohio to a year-to-date sports betting revenue of $317.1m.

Online accounted for $72.8m in revenue, 98.5% of the total. Retail, meanwhile, was responsible for $1.1m.

The rise in revenue was despite handle dropping 16.7% to $673.2m from March’s figure of $808.2m. Ohio operators paid out $593.1m in winnings, while $20.1m was attributed to promotions.

Year-on-year, handle was up 29.3% while revenue was 16.7% higher than the same month last year.

FanDuel still on top

FanDuel again led the way in April with online handle and revenue of $226.7m and $34m respectively.

DraftKings, meanwhile, reported April online handle of $216.8m and revenue of $20.8m.

Bet365 was third again for handle with a total of $48.9m, generating $5.1m in revenue. BetMGM and ESPN Bet reported handles of $45.2m an..

June 3, 2024

US April round-up: Betting growth in Virginia, mixed month for Colorado

Analysing the latest monthly sports betting results from across the US, iGB takes a look at year-on-year growth in Virginia during April and a month of mixed fortunes in Colorado.

Virginia reported an increase in both sports betting revenue and handle in April. However, while Colorado saw player spending rise year-on-year, total wagering revenue was lower.

Beginning in Virginia with player spending, this amounted to $563.5m (£442.4m/€519.2m. This represents a year-on-year rise of 32.3% but 11.3% less than March’s $635.5m total.

Bettors spent some $559.3m betting online, plus $4.2m at retail sportsbooks in land-based casinos across Virginia.

As for adjusted gross revenue, this hit $54.6m, which is 40.4% higher than April last year and 28.8% more than $42.4m in March this year.

Of this total, $54.5m came from online betting, while just $110,208 was generated in retail revenue.

Adjusted gross revenue is calculated by taking off player winnings, bonuses and promotion and other ded..

June 3, 2024

BetMakers pens market access deals with Bet365 in New Jersey and Colorado

BetMakers Technology Group has entered into market access agreements with Bet365 to supply the operator with its fixed odds horse racing betting offering in New Jersey and Colorado.

Under the agreements, BetMakers will offer fixed-odds bets on thoroughbred horse racing to Bet365 customers across both states. Both deals run for a period of two years.

Bet365 will be licensed to distribute BetMakers’ thoroughbred racing content to players in New Jersey. The arrangement also covers thoroughbred and harness racing in Colorado.

In New Jersey, Bet365 will pay BetMakers a market access fee. This is based on a percentage of all fixed-odds bets placed in the state on thoroughbred racing events. In addition, Bet365 will pay a content fee based on a percentage of fixed-odds bets placed in both New Jersey and Colorado on applicable BetMakers Global Racing Network content.

BetMakers said the deal marks the entrance of the first major operator to New Jersey’s fixed-odds horse racing market. As ..

May 31, 2024

Illinois’ proposed high sports betting tax rate could backfire on lawmakers

Illinois' general assembly made a money grab earlier this week, but gambling stakeholders say it could backfire. Lawmakers sent a FY2025 budget that includes a progressive tax rate topping out at 40% to Governor JB Pritzker.

On the face of it, raising the sports betting tax rate seems like a good way for any state to bring in more revenue. But stakeholders say Illinois consumers will likely be the recipients of unintended consequences. During the house budget debate, one Republican representative suggested an appropriations line for funds to treat the Democrats’ unchecked “spending addiction”.

The budget bill is now headed to Pritzker’s desk and it seems like a slam dunk that he will sign it. That, stakeholders say, will seal the fate of Illinois bettors.

“Players are probably going to see fewer promotions and that is not good for the consumer,” West Virginia lawmaker and government affairs chief for Play ‘n Go Shawn Fluharty told iGB. “It could impact the lines and that is ano..

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Tag: Online sports betting