Online sports betting – Page 28

May 3, 2024

Missouri sports betting petition submitted with over 340,000 signatures

A petition to allow for statewide mobile sports betting in Missouri has been submitted to the secretary of state with over 340,000 signatures.

The “Winning for Missouri Education” group are the petition’s proponents. It is being led by the six Missouri professional sports franchises and seeks to legalise sports betting in the state.

The petition needed 180,000 verified signatures to make it onto the November ballot. It has far exceeded that prior to the 5 May deadline, also passing a target of 325,000 set in April.

The initiative would bypass the state’s general assembly following years of delays in allowing it to join nearby states such as Kansas and Kentucky in legalising online betting, with seven of Missouri’s eight bordering states currently offering sports betting.

Jack Cardetti, a spokesman for the campaign, stated: “We are grateful for the support from Missouri’s professional sports franchises, who have been crucial in creating the opportunity for Missourians to vote direct..

May 2, 2024

Ohio betting revenue drops 3.8% in first month since college prop bet ban

Ohio reported total sports betting revenue of $63.8m (£51.0m/€59.6m) in March, down 3.8% on February’s total of $66.3m.

The sports betting revenue total of $63.8m in March also fell 33.1% short of the same month last year, when Ohio reported revenues of $95.3m. March 2023 was the third month after Ohio launched its sports betting market.

Ohio’s revenue drop was in spite of handle reaching $808.2m in March, significantly up from the $671.1m in bets taken in February. The NCAA Division 1 basketball tournaments are big drivers of handle in the US during the month.

The state’s March handle was also a 9.6% increase on the $737.2m in bets taken in the same month last year.

Taxable revenue stood at $64m, after $738.8m was paid out in winnings and $22.5m was written off in promotions.

Of the $808.2m in handle, online accounted for $784.8m, or 97.1% of the total. Online sports betting revenue was $62.1m, compared to $1.7m in retail.

FanDuel retains lead over DraftKings in Ohio

In terms ..

May 2, 2024

Survey: Bet365 beats out DraftKings, FanDuel among youngest US bettors

A new YouGov survey has highlighted the growing momentum among emerging sportsbooks in the US sports betting market.

The YouGov survey revealed that DraftKings and FanDuel are still capturing the most usage from older bettors. However, Bet365 is emerging as the dominant sportsbook among those aged 21-24.

It ranked as the top sportsbook for both the 21-24 and 25-34 age categories, above FanDuel and DraftKings. Some 31% of those surveyed between 21 and 24 had bet with Bet365 in the month prior to the survey.

Only 14% of the 21-24 age category were categorised as prospective bettors. Therefore, Bet365’s opportunity among the younger market looks set to grow further thanks to investment in the US. In total, 60% of sports bettors reported using Bet365 more, the most among all US sportsbooks.

Taking it slow working for Bet365

It should be noted that on its 2022-23 financial year, Bet365 posted a £61.2m loss. However, the company also posted significant revenue growth, with sports bettin..

May 1, 2024

Massachusetts Gaming considering further non-gaming related promotional bans

The Massachusetts Gaming Commission (MGC) is considering further tightening their promotional and advertising prohibitions. At a meeting on Tuesday (30 April), the commission discussed banning promotions or bonuses that are not related to gaming.

The first state to consider a non-gaming related promo ban was Ohio. In that state, Fanatics offered promotions that crossed between online sports betting and retail merchandise. Last year, just after Ohio launched its legal market, Fanatics offered merchandise consumers promotional bets at its digital sportsbook. The Ohio Casino Control Commission (OCCC) began discussing the idea of limiting such promotions last summer, but has not acted on it yet.

MGC outside counsel Mina Makarious said when introducing the topic that operators brought multiple issues to the OCCC. Among them, were how to implement it without creating unintended consequences and having a level playing field.

Ohio sports betting regulators are putting an end to a Fanatics..

May 1, 2024

Colorado sports betting handle nears $600.0m in March

Consumer sports wagering spend in Colorado increased 20.0% year-on-year to $593.1m (£475.7m/€556.8m) in March, while the state also reported a rise in revenue.

Handle was some way clear of the $494.4m bet during March last year. It was also 10.5% higher than the $537.0m wagered by Colorado players in February this year.

Online betting accounted for $589.3m of all sports bets placed during the month. A further $3.7m was wagered with retail sportsbooks across Colorado in March.

The hike in handle also led to higher revenue. For March, gross gaming revenue from sports in the state hit $45.0m. This is 27.1% ahead of $35.4m in March 2023 and 74.4% higher than February’s $25.8m haul.

Revenue from online betting amounted to $44.9m during the month, with retail’s share at just $165,764.

Basketball wagers hit $299.0m in March

Basketball was again the sport of choice among bettors in Colorado during March. In total, players spent $299.0m wagering on basketball, of which $297.2m was bet on..

April 30, 2024

Missouri lawmaker trying again to marry VLTs and wagering gets plenty of pushback

A Missouri hearing with no vote on Tuesday (30 April) again revealed opposition to marrying legal video lottery terminals with sports betting. This time around, it wasn't Senator Denny Hoskins carrying the bill, but House Minority Leader Crystal Quade.

HB 2835 likely won’t get far. Assigned last week to the special committee on innovation and technology, the bill got its first hearing with opposition from casinos, a convenience store association and the home docks, or locations where gambling boats sit .

There were also references that the senate has plans to adjourn early. One lawmaker suggested it may adjourn on Tuesday. If that happens, current bills would stall and lawmakers would have to wait to see if there will be a special session. The senate has not yet approved a budget.

Quade’s bill would allow for statewide mobile wagering and renames and defines video lottery terminals as “mechanical amusement machines”. The machines currently operate in a grey market. They are ..

April 30, 2024

Minnesota wagering bill moves, but unlikely to get out of legislature

The Minnesota house taxes committee moved forward a legal sports betting bill today (30 April) with the belief that it won't get to the governor's desk. The committee voted, 12-9, to send an amended version of HF 2000 to the ways and means committee with about three weeks remaining in the session.

The wagering bill moves forward against an unusual backdrop. Last week Democratic State Senator Nicole Mitchell was arrested on burglary charges. The senate has taken away her committee and voting privileges. The Democrats had a one-vote majority in the senate prior to the arrest. Now, any bill will require bi-partisan support.

“With the nonsense bordering on criminal in the senate, I don’t think this bill will get out of the legislature,” Representative Bjorn Olson said.

The bill would allow for statewide mobile wagering with platforms tethered to tribes. It would give the tribes exclusivity and earmark $625,000 for the state’s horse tracks.

Several committee members suggest..

April 30, 2024

Arizona sports betting handle reaches $637.5m in February

Consumer spending on sports betting in Arizona amounted to $637.5m (£508.4m/€595.6m) in February, up 4.6% year-on-year, while gross revenue also hiked 55.9%.

Handle for February was some way clear of the $609.3m bet in the same month last year. However, it was 9.8% behind the $706.4m wagered in Arizona in January of this year.

Of the total spent during the month, $631.2m was bet online and $4.6m at retail sportsbook facilities across Arizona. An additional $1.6m was spent betting with limited event wagering (LEW) operators.

Turning to revenue, gross event wagering revenue for the month amounted to $53.0m. This was up from $34.0m in February 2023 but 23.5% short of January’s $69.3m record.

Online betting accounted for $52.7m of gross revenue, retail wagering $290,523 and LEW operators just $64,746.

Adjusted gross revenue tops $28.0m in February

In terms of adjusted figures for the month, these are reported after accounting for free bets and promotions.

Operators handed out $25.1..

April 29, 2024

Arrest of senator in Minnesota could upend sports betting bill, other business

The fate of any business – including legalising sports betting – getting done in the Minnesota legislature was thrown into jeopardy late last week. Senator Nicole Mitchell was arrested early on Monday (22 April) morning, and has since been removed from her committee and caucus assignments, according to a statement from Senate Majority Leader Erin Murphy.

In what could be a blow to the Minnesota sports betting bill, Senator Mitchell was arrested for a burglary that she said is a family situation blown out of proportion. She said in a statement that “I am confident that a different picture will emerge when all the facts are know.”

Mitchell said she wanted to retrieve her deceased father’s ashes and was checking in on a family member with Alzheimer’s, according to media reports. The arrest took place in the early morning hours of 22 April.

However the criminal situation plays out, Mitchell’s arrest has left the Minnesota senate in a quandary. It now has 33 Democrats and 33 Republican..

April 29, 2024

Multiple US states considering new betting restrictions

Six years after legal sports betting became a states' rights issue, legislatures and regulators across the country have upped their focus on consumer and athlete protections. In the last week, bills that would ban using credit cards to fund digital gambling accounts and ban college player prop bets have been filed.

Next week, Wyoming’s regulator will begin its foray into additional athlete protection by exploring the college player prop ban idea.

In Pennsylvania last week, State Senator Wayne Fontana filed senate bill SB 1159, which would prohibit the use of credit cards to fund any kind of online gambling, including casino, lottery and sports betting. Pennsylvania law currently allows consumers to use credit cards to fund accounts, but problem and responsible gambling advocates say the practice is bad for those with addiction issues.

“There is a significant body of evidence that highlights the increased levels of harm if you gamble utilising credit cards,” responsible gambli..

April 29, 2024

Rhode Island sports betting revenue dips in March despite handle increase

Sports betting revenue in Rhode Island fell 22.5% year-on-year to $3.1m (£2.5m/€2.9m) in March despite players spending more money on wagering.

Total handle for the month stood at $44.9m, up 8.2% higher than $41.5m in March last year. It is also 15.7% ahead of the $38.8m bet in Rhode Island in February 2023.

Of this total, $37.0m was wagered online, while the remaining $7.8m was bet at land-based sportsbooks. Twin River processed $5.6m of all retail bets, with Tiverton Casino taking a total of $2.2m.

In terms of revenue, this was higher month-on-month, but only marginally. The March total was 6.9% higher than the $2.9m generated in Rhode Island in February this year.

As to where revenue came from, online betting accounted for $2.5m of the monthly total. In contrast, retail betting generated just $604,093 in monthly revenue.

Twin River posted $386,363 in retail sports betting revenue, while Tiverton Casino reported $217,730.

Players won a total of $41.8m from wagering on sports ..

April 26, 2024

State of the Union: A look 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.

Illinois regulator grants DraftKings full mobile licence

On Thursday (25 April), the Illinois Gaming Board unanimously awarded DraftKings a four-year mobile and retail licence. The company has been offering statewide mobile sports betting since 2019. It also opened its sportsbook at historic Wrigley Field last month. DraftKings first entered the Illinois mobile market through a partnership with the Casino Queen in East St Louis in 2019.

The Wrigley Field sportsbook is the second brick-and-mortar book at a professional sports venue in Chicago. FanDuel opened its location at United Center in 2022. Illinois was among the first US jurisdictions to allow sports betting operators to partner with professional sports teams. This also enabled customers to place bets sportsbooks at pro venues. Caesars Sportsbook – th..

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Tag: Online sports betting