Online sports betting – Page 35

March 6, 2024

Colorado sports betting revenue tops $53.4m in January

Gross gaming revenue from sports betting in Colorado hiked 50.7% year-on-year in January despite only a short increase in handle for the month.

Spending on sports betting in January amounted to $596.7m (£469.5m/€549.4m). This was 9.1% ahead of $547.2m in 2023 but 16.6% short of December’s record $716.4m spend in Colorado.

Of this total, $592.2m was wagered via online sportsbooks and $4.5m retail facilities across the state.

While the year-on-year handle rise was only modest, operators were much more successful in revenue terms. Gross gaming revenue reached $53.5m, some way clear of the $35.5m posted in January 2023.

The January total was also 32.1% higher than the $40.5m reported in December. This was despite players wagering around $120.0m less month-on-month.

Online wagering accounted for $53.3m of all revenue during the month. In contrast, retail contributed just $190,394.

Basketball betting drives growth in Colorado

While many were looking ahead to the NFL’s end-of-season S..

March 5, 2024

FanDuel named as Carolina Panthers’ sports betting partner

FanDuel has been named as an official sports betting partner of the National Football League (NFL) Carolina Panthers, just days before North Carolina’s legal mobile sports betting market opens.

The North Carolina State Lottery Commission confirmed the 11 March launch date for the state’s mobile sports betting market in January. Players could register for – and fund – accounts from 1 March.

The new partnership between FanDuel and the Carolina Panthers’ NFL team allows fans to pre-register on the FanDuel Sportsbook app ahead of the market’s go-live date. FanDuel will also collaborate with the team on social media content and display digital signage at the Carolina Panthers’ Bank of America Stadium.

Fans can pre-register on FanDuel’s sportsbook app ahead of the 11 March go-live date

North Carolina marks the 22nd state where FanDuel is active with mobile sports betting. It joins the likes of Arizona, Colorado and New Jersey.

Mike Raffensperger, chief commercial officer at FanDuel, sai..

March 4, 2024

Caesars first to launch sports betting in North Carolina with tribal partnership

Caesars Entertainment has become the first operator to launch legal online sports betting in North Carolina, rolling out its sportsbook in partnership with the Eastern Band of Cherokee Indians.

North Carolina is not due to launch full-scale legal sports betting until 11 March. However, Caesars’ deal with the tribe and the Indian Gaming Regulatory Act has made it possible for the operator to go live ahead of this date.

Players can place bets at two Cherokee-run casinos: Harrah’s Cherokee Casino Resort and Harrah’s Cherokee Valley River Casino & Hotel. Betting is also permitted on the Eastern Band of Cherokee Indians’ tribal lands.

caesars’ tribal deal will see the operator first to go live

Caesars’ online sports betting offering will be extended across all North Carolina when the market fully launches next week. The operator has been running retail sportsbooks in the state for a number of years, with the online offering to complement these.

“We’re thankful to be able to offer wage..

March 1, 2024

Fanatics hits milestone with sportsbook launch in New York

Fanatics Betting and Gaming (FBG) has announced the launch of its sportsbook in New York, marking the 15th state in which it offers online sports betting.

Players in New York can now download the Fanatics Sportsbook and begin placing bets on a range of events.

Fanatics replaces PointsBet in New York. Customers previously betting with PointsBet in the state will have their information automatically migrated to the Fanatics Sportsbook. This includes their username, password, account balance, rewards points and any responsible gaming settings.

The launch marks the latest phase of Fanatics’ acquisition of PointsBet US. FBG purchased the business in August 2023 and has been phasing out the PointsBet brand ever since.

the launch marks fanatics’ latest acquisition phase of pointsbet us

Earlier this week, Fanatics also rolled out its sportsbook product in Indiana. The New York launch means it is now active in 15 states including Colorado, Connecticut, Iowa, Kentucky, Maryland, Massachuset..

March 1, 2024

North Carolina issues eight online sports betting licences ahead of launch

With less than two weeks to go until online sports betting goes live in the state, the North Carolina State Lottery Commission has awarded eight interactive sports wagering licences to operators.

Sports betting will launch in North Carolina on 11 March. This is after the state’s governor, Roy Cooper, signed House Bill 347 into law last year.

Among the approved licensees are heavy-hitters such as FanDuel and DraftKings. Fanatics, Bet365, BetMGM, ESPN Bet and Underdog are also set to launch in the state.

Operators who sought approval to offer sports betting in the state had to partner with a sports team, league or venue within North Carolina. That led to a flurry of deals as operators looked to secure entry into the state.

For instance, DraftKings partnered with stock-car racing series Nascar, while BetMGM teamed up with the Charlotte Motor Speedway in the state. ESPN Bet gained entry to North Carolina by signing a major PGA Tour deal to become the official betting operators of the W..

February 29, 2024

New Hampshire sports betting decline continues in January

The New Hampshire Lottery reported further declines in the state’s sports betting market in January, with both handle and gross gaming revenue falling year-on-year.

Player spending in January amounted to $73.3m (£57.9m/€67.7m). This was 24.6% behind $97.2m in New Hampshire last January and 7.0% lower than $78.8m in December. It was also the second consecutive month of handle decline in the state.

Of this total, $62.7m was spent betting on sports online, while players wagered $10.6m at retail sportsbooks.

revenue was 7.0% lower than $78.8m in December 2023

Looking to gross gaming revenue, there was mixed news in the state. Revenue was down 20.3% from the record $12.3m in January 2023 but 27.3% ahead of $7.7m in December.

Some $8.9m of all revenue in January came from online betting. A further $951,079 was generated from wagering at retail sportsbooks across New Hampshire.

DraftKings remains the exclusive operator in the state’s online sports betting market. This arrangement has be..

February 28, 2024

Rhode Island’s sports betting handle declines by 6.5% in January

Rhode Island’s January sports betting handle saw a 6.5% decline from December’s figures, although revenue was up by almost 22%.

Rhode Island recorded $44.8m in sports betting handle for January, a significant decrease on December’s number of $47.9m and the lowest since September. The handle also fell 28.1% behind the same month last year, which was a record.

$34.8m of the handle was wagered online, while the other $13.1m was bet at retail sportsbooks. Of the retail handle, Twin River and Tiverton Casino took $6.4m and $3.6m in bets respectively.

Despite the downturn in handle, it was a good month for sportsbooks, who accumulated a combined revenue of $5m, over a fifth higher than December’s $4.1m and the highest since Rhode Island started its new financial year.

Online accounted for $3.8m of that figure, which is 76% of the total. By facility, Twin River outperformed the Tiverton Casino, generating $845,340 to the latter’s $402,750.

Rhode Island into H2 of its financial year

spor..

February 28, 2024

Georgia moves closer to sports betting after bill passes senate

Georgia looks set to have a referendum on whether to legalise sports betting after a bill successfully passed through the state’s senate.

Senate Resolution 579, which seeks to approve sports betting in Georgia, passed by 41 to 12. This was easily enough to meet the two-thirds majority needed to amend the state’s constitution through a referendum.

SR579 is led by Senator Bill Cowsert, who submitted the ultimately unsuccessful Senate Bill 172 in 2023. In a largely unchanged form, though, SR579 looks more likely to end up passing.

Earlier in February, Senator Clint Dixon’s Senate Bill 386 was adopted after passing with a vote of 35-15. Enabling legislation SB386 looked to establish a framework of regulation in the state and was amended so that the support of 38 senators was needed to pass.

Cowsert’s proposals would see 80% of tax revenue attributed to the lottery’s education fund. Some 15% would go to public education on problem gambling, while 5% would be given to the Sports Promotio..

February 28, 2024

Fanatics Sportsbook goes live in Indiana

The Fanatics Betting and Gaming (FBG) division of Fanatics Holdings has announced the launch of its online sportsbook product in the state of Indiana.

Players in Indiana can now place bets on a wide range of events and competitions via the Fanatics Sportsbook.

Fanatics replaces the PointsBet brand in the state. Existing PointsBet customers in Indiana will automatically have their username, password, account balance, rewards points and responsible gaming settings migrated to the Fanatics Sportsbook.

FBG has been phasing out the PointsBet brand in states across the US after its acquisition of PointsBet US in August 2023. Indiana is the 14th state in which the Fanatics Sportsbook has launched.

fanatics casino is also now live in three states

Fanatics also runs online sports betting in Colorado, Connecticut, Iowa, Kentucky, Maryland, Massachusetts, Michigan, Ohio, Pennsylvania, Tennessee, Vermont, Virginia and West Virginia. In addition, PointsBet retail betting venues operate in Penn..

February 27, 2024

Spain: online gambling revenue edges up to €315.3m in Q4

Online gambling revenue in Spain increased marginally year-on-year and quarter-on-quarter to €315.3m (£269.8m/$342.0m) in Q4, while total deposits were also higher.

Gross gaming revenue in Q4 was 0.6% higher than in the same period in 2022. The total was also up 3.6% from the amount generated in Spain during the third quarter of the year.

Breaking this down, casino was the primary source of revenue by some distance during Q4.

Total revenue from this segment was €171.3m, representing 54.3% of all market revenue in Spain. Growth in the casino market was helped by a 25.9% rise in slots revenue and 15.3% increase in live roulette revenue.

Elsewhere, sports betting revenue hit €114.7m, accounting for 36.4% of total revenue and poker €25.4m, or 8.1% of overall revenue. For poker, tournaments had a negative variation rate of 0.5% and poker cash 7.0%.

A further €3.8m in revenue came from bingo activity, some 1.2% of all revenue, and contests €50,000.

Total deposits up 9.4% in Q4

In te..

February 27, 2024

Arizona sports betting revenue reaches record high in December

Gross sports betting revenue in Arizona hit a new monthly high in December, despite handle declining month-on-month.

December gross revenue in Arizona amounted to $66.1m (£52.1m/€60.9m). This was up 22.1% from $54.4m in the previous year and also 62.4% ahead of November’s total.

Of this total, $65.2m came from online betting and $625,986 retail sportsbooks. A further $240,604 was generated by limited event wagering (LEW) operators.

This came off the back of $693.3m in total wagers placed during the month. Total player spend was 21.1% ahead of December 2022 but behind the record $713.6m wagered in November.

Online spend amounted to $685.1m, retail sportsbooks $6.4m and LEW operators $1.8m.

A total of $17.8m in free bets and promotional credits were noted in December. Almost all of this came from online betting.

As such, adjusted gross sports betting revenue for the month amounted to $48.3m, another new record. This was 30.3% higher than December 2022 and 139.4% more than $20.3m i..

February 26, 2024

Ohio bans player prop bets on NCAA games

The Ohio Casino Control Commission (OCCC) has banned player prop bets on college sports after granting a request from the National Collegiate Athletic Association (NCAA).

The OCCC’s decision came after NCAA president Charlie Baker sent a letter to the commission’s executive director Matt Schuler, requesting a ban to be implemented on player-specific prop wagers for its games. The letter was also endorsed by Ohio’s governor, Mike DeWine.

Bettors will no longer be able to wager on markets such as a quarterback’s passing yards or a basketball player’s points for NCAA games. Operators have until 1 March to introduce the restrictions.

In the OCCC’s announcement, the commission stated it would become the 25th state to either prohibit or limit player-specific prop bets on NCAA contests. The ban’s aim is to protect NCAA athletes against potential harassment from bettors, as well as curb match fixing.

Ohio only launched legal sports betting in January 2023. In July, the state passed a law t..

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Tag: Online sports betting