Online sports betting – Page 26

May 22, 2024

Operators jilt Massachusetts regulator in discussion about limiting bettors

The biggest news that came out of the Massachusetts Gaming Commission's (MGC) roundtable on limiting players on Tuesday (21 May) was what wasn't said. And who wasn't there. Every live operator in the state declined to participate.

As the MGC begins to learn about why and how operators set bet limits on players, the only operator representative was Justin Black of Bally’s Interactive. That platform is licensed, but not live in the state.

BetMGM, Caesars Sportsbook, DraftKings, ESPN Bet, Fanatics Betting & Gaming and FanDuel requested executive session for the roundtable. The Massachusetts regulator declined. Most operators cited confidentiality concerns and were ultimately left out of the conversation.

Commissioners didn’t hide their disappointment and anger. Interim Chair Jordan Maynard said that the Massachusetts regulator is required by an open-meeting law to have discussion in public and that is sometimes “uncomfortable”. He also said that integrity and transpar..

May 21, 2024

West Flagler to SCOTUS: DoJ laid out why you should hear Florida wagering case

On Tuesday (21 May) West Flagler and Associates (WFA) discounted a recent argument by the the US Department of Justice (DoJ) in the Florida sports betting case. The reply from the pari-mutuels suing the federal government is the final piece needed before the US Supreme Court (SCOTUS) considers whether or not it will take the case.

WFA argues that the 2021 Florida-Seminole tribe compact explicitly allows for wagering outside of Indian Country. That allowance, it says, violates the Indian Gaming Regulatory Act (IGRA). Last week, the DoJ wrote that the validity of the compact isn’t a federal issue and it doesn’t violate IGRA. Further, the DoJ argued that the US Department of the Interior’s (DoI) decision to allow the compact to become “deemed approved” does not violate any laws, state or federal.

WFA filed a writ of certiorari with the supreme court in April. At issue in the Florida wagering case is whether the DoI should have approved a compact that gives the Seminoles exclusivity to..

May 21, 2024

Michigan online gaming revenue drops 8.7% to $234.8m in April

Michigan sports betting and igaming operators reported $234.8m (£184.7m/€216.3m) in April revenue, down 8.7% on March’s total.

March’s revenue figure of $257.1m was the highest total in Michigan so far in 2024, although comparably April’s numbers fell short. Nonetheless, April’s revenue total still beat January and February, which produced $229.6m and $218.5m respectively.

Year-on-year, April revenue was 20% ahead of the same month last year, when Michigan’s sports betting and igaming operators reported revenues of $195.7m.

Igaming revenue down but sports betting stable in Michigan

Igaming revenue fell from $215.5m in March, Michigan’s strongest igaming month to date, to $192.9m in April.

Sports betting handle, meanwhile, also dropped significantly. Michigan’s online sports betting operators took $399.1m in bets in April, down from $480.4m in March. However, April sports betting revenue stayed stable at $41.9m.

In terms of monthly adjusted gross receipts (AGR), igaming and sports..

May 21, 2024

US April round-up: growth in Louisiana but New Hampshire declines

Casting an eye over the latest monthly US state results, iGB analyses sports betting growth in Louisiana during April and a decline in revenue and handle in New Hampshire.

Players spent more on sports betting in Louisiana, which led to a rise in revenue. However, it was very much the opposite in New Hampshire in April, where the market shrank year-on-year.

Starting in Louisiana, handle amounted to $283.0m (£222.5m/€250.4m), up 34.8% from last year but down 19.1% from March’s $350.0m total. Players spent $263.2m betting on sports online during April, in addition to $19.8m at retail sportsbooks.

As for revenue, this amounted to $33.0m in April. The monthly total is 49.3% ahead of last year and only 2.4% behind $33.8m in March this year.

The state collected $5.4m in tax during the month, with almost all of this coming from the online market.

As for the financial year to date, total player spending in the 10 months to the end of April was $2.86bn. Of this, $2.61bn was bet online, wit..

May 20, 2024

Weekend report: NY casino hurry-up bill, NCAA harassment report, new places to bet

IGB takes a look at what happened in gambling news over the weekend.

NY casino process: Let’s get a move on!

New York State Senator Joe Addabbo and Assemblyman Gary Pretlow dropped a bill that would speed up the current NY casino timeline. Regulators earlier this year said they would award licences for three downstate casinos by 31 December 2025. The bill would require bids to be filed by 31 July and the New York State Gaming Commission to award licences by 31 March 2025. The bill outlines 17 areas applicants must address from capital expenditure to proposed partnerships to workforce training, demographic plan and “harmony”.

The New York Post reported that a shortened timeline could help out certain parties and hurt others. Addabbo’s district borders Aqueduct, which is the location for the Resorts World bid. Pretlow’s district is near the Yonkers race track.

On the flip side, Steve Cohen’s Citi Field NY casino proposal would benefit from a longer runway. That project needs legisl..

May 20, 2024

Minnesota sports betting bill dead at end of chaotic, marathon day

A chaotic marathon legislative session ended on Sunday (19 May) in Minnesota without legal sports betting being considered. Before the calendar turned to 2024, Minnesota was among four US states that stakeholders believed had a real shot to legalise.

Instead, Minnesota’s session has been marred by the arrest of a state senator and mired in partisan politics. Although the house voted to convene on Monday (20 May) at 10am, the senate is adjourned for the session. In the final days, the DFL and Republicans called each other names, had shouting matches on the floor,and filibustered. Both chambers met in extended sessions – some going as late as 5am – beginning last week.

Over the weekend, an omnibus bill was created and included many key issues in an effort to get a vote on some issues. Sports betting is not believed to be in the bill, although lawmakers were unsure.

“Why don’t you go through it?” asked Minority Leader Mark Johnson during end-of-session media availability. “Why don’t ..

May 17, 2024

In first full month, bettors wager $649m in North Carolina

On Friday (17 May) the North Carolina State Lottery issued its first full-month legal online sports betting report. Bettors in the state wagered nearly $649m in April and gross gaming revenue (GGR) was $105.3m.

Operators went live in North Carolina on 11 March, ahead of the NCAA men’s and women’s basketball tournaments. Consumers wagered $659.3m during the three-week span in the opening month. But during that time, three North Carolina teams – Duke, NC State and UNC – were all playing in March Madness. Across the US, sports betting handle often dips in April, after the NCAA’s marquee event comes to a close.

Operators had a higher hold in April versus March, paying out $538.4m in winnings on the $649m handle versus $590.8m on $659.3m handle in March. North Carolina taxes digital operators at 18% of GGR, but the state did not release a number for tax revenue.

Promos down

Promotional betting dropped significantly in April, according to the report. Operators wrote off $79.7m in promo..

May 17, 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.

Nevada to Dave & Buster’s: No betting

The Nevada Independent reported that Nevada is the latest state to take notice of Dave & Buster’s plan to offer betting among friends. Gaming Control Board agents met with Dave & Buster’s executives to say betting at the amusement centres wouldn’t be allowed.

Board chair Kirk Hendrick said in a statement on Monday (13 May) that the board “opposes activities that could promote underage gambling, as well as wagering activities by businesses catering to a significant number of minor clientele.” Other states have reacted as well. An Illinois lawmaker filed a bill that would prohibit the idea and regulators in Ohio and Pennsylvania are considering action.

Date set for Mizuhara plea change

On Wednesday (15 May) the US Attorney’s office said that Ippei Mizuhara’s change-of-..

May 17, 2024

US April round-up: Kansas revenue rises, DC reports decline

Taking a look at some of the latest monthly US state sports betting results, iGB analyses a year-on-year revenue increase in Kansas in April and a decline in Washington DC despite handle holding steady.

Total market revenue in Kansas increased 13.0% to $10.4m (£8.2m/€9.6m). However, April was not so positive for DC, with revenue down 59.5% to $526,689 from last year.

Starting in Kansas, not only was revenue up year-on-year, it was also 46.5% ahead of $7.1m in March this year. Online betting accounted for $10.3m of all revenue, with retail’s share at just $79,989.

In terms of spending, total handle for Kansas in April hit $192.1m. This is 44.4% more than last year but behind March’s state-wide handle of $252.9m.

Players spent $185.9m betting online during the month, with a further $6.2m wagered at retail sportsbooks.

Total tax for the month reached $1.0m, with almost all of this coming from online betting.

DraftKings and Boot Hill out in front in Kansas

Taking a look at each op..

May 17, 2024

New Jersey gambling revenue up in April despite land-based decline

Gambling revenue in New Jersey hiked 10.4% year-on-year to $510.9m (£403.7m/€470.6m) in April with increases across the igaming and sports betting segments more than offsetting a decline in the land-based market.

Total revenue was comfortably higher than $462.7m in April last year. However, the figure fell 3.0% short of the $526.6m reported in New Jersey in March this year.

Beginning with land-based casino, this remains the primary source of gambling revenue in the Garden State. However, the $216.8m generated in April is 6.3% behind $231.5m last year.

Physical slot machine revenue declined by 6.4% to $158.8m while land-based table games revenue also fell 6.1% to $58.1m.

Further igaming success for New Jersey

Turning to the igaming sector, the situation is very different. Revenue from all igaming in April hit $187.9m, up 18.2% year-on-year. This means igaming was only $28.9m behind the long-established land-based segment in April.

Some $185.6m of all igaming revenue was attributed..

May 16, 2024

Short on votes, Minnesota’s house punts legal sports betting to Friday

With a legal sports betting bill listed as the second item on the calendar, the Minnesota house met for more than 11 hours on Wednesday (15 May), but didn't broach the subject. Lawmakers will have another chance to move the bill on Friday (17 May).

Two sources told iGB that bill sponsor Zack Stephenson is short on votes to pass the bill. Earlier this month, Stephenson folded the wagering bill into one that would ban historical horse racing (HHR) machines. The betting bill is moving forward as HF 5274.

Minnesota’s 2024 regular session is set to adjourn on Monday (20 May). The legislature is running marathon sessions to get through bills about paid time off, taxes and other critical issues. Wednesday’s house session ended at midnight. It will reconvene at 11am local time on Friday.

Current bill: 20% tax, 21+, tribal exclusivity

Stephenson, a member of the state’s Democratic-Farmer-Labor (DFL) party, has been carrying legal betting for four sessions. He’s been unable to get it t..

May 16, 2024

Massachusetts sports betting revenue down 16.6% in April

Sports wagering revenue in Massachusetts amounted to $49.1m (£38.7m/€45.1m) in April, down 16.6% year-on-year despite an increase in player spending.

Revenue was $9.8m lower than the $58.9m posted in the same month last year. Incidentally, April 2023 was the first full month of legal online sports betting in Massachusetts.

However, the April revenue total is 6.3% higher than $46.2m in March of this year.

As to where revenue came from, online betting generated $49.4m during April. Retail betting resulted in a $256,593 loss, pushing the overall revenue total down.

In terms of spending, players in Massachusetts wagered a total of $603.3m on sports. This is 4.1% higher than last year but 6.1% behind $642.3m in March.

Of this total, some $591.5m was spent wagering online, while the remaining $11.7m was bet at retail sportsbooks.

DraftKings’ handle tops $304.1m in April

Looking at individual operators, DraftKings continues to lead the way in Massachusetts by some distance. During Apr..

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Tag: Online sports betting