Online sports betting – Page 41

January 15, 2024

Tennessee: Betting handle tops $493.3m in December

Players in Tennessee spent $493.3m (£387.9m/€450.5m) in December, an increase on last year but a month-on-month decline from November’s record.

Gross handle in Tennessee in December was 12.0% higher than in the same month in 2023. However, it was 4.3% behind the record $515.5m wagered in November 2023.

Incidentally, November was the first month in which player spend on betting in Tennessee surpassed $500.0m. The state’s legal wagering market opened in November 2020.

The gross handle figure accounted for $1.7m in adjustments which, when included, meant $495.1m in gross wagers.

Gross handle for Tennessee in December was up by 12.4% year-on-year but 4.3% behind the $517.1m posted in November.

Leading operators active in Tennessee

Tennessee was able to generate $9.1m in privilege tax from sports wagering during the month. Figures were published by the Tennessee Sports Wagering Council but did not include data on revenue.

Tennessee was one of four states in which fanatics launched in..

January 15, 2024

Kansas smashes sports betting revenue record in December

Kansas set a new monthly sports wagering revenue record of $20.1m (£15.8m/€18.4m) in December, while handle fell just short of November’s all-time high.

The December revenue haul beat the existing Kansas record of $14.4m in October by 39.6%. It was also 95.2% ahead of $10.3m in December 2022 and 125.8% higher than $8.9m in November of 2023.

Online betting generated $19.2m of all revenue in December, with retail wagering bringing in the other $808,961.

kansas’ previous record was $14.4m in october 2023

As for handle, players spent a total of $259.7m during the month. This was just short of the record $260.9m bet in November but 40.4% higher year on year.

Consumers bet $249.1m online in December and a further $10.6m at retail sportsbooks across Kansas.

Boot Hill leads online in Kansas

Looking at individual operators, Boot Hill Casino and DraftKings remained out in front in the online market. Revenue from the partnership totalled $8.5m from a $103.8m handle.

Kansas Star and FanDu..

January 15, 2024

Indiana sets $55.6m sports betting revenue record in December

Indiana reported $50.6m (£39.8m/€46.2m) in adjusted gross revenue for December, a new monthly record, while the Hoosier State’s handle fell just short of an all-time high.

Taxable adjusted gross revenue in December narrowly beat the existing record in Indiana of $50.5m, set in September 2022.

The December amount was also 18.5% ahead of $42.7m in December of 2022. In addition, it surpassed the $30.7m posted in November 2023 by 64.8%.

Indiana narrowly misses out on handle record

Turning to handle and Indiana came close to a month of two new state records. Consumers spent $503.1m during December, the second highest monthly amount since the state opened its legal market in September 2019.

The December total was 16.6% ahead of the $431.4m bet in Indiana in the same month in 2022. It was also just 2.1% behind November 2023’s all-time high of $513.7m.

Basketball remained the sport of choice among Indiana consumers, drawing $133.1m in bets. The state is home to the NBA’s Indiana Pacers..

January 11, 2024

Sports Betting Alliance opposes California sports betting ballots

The Sports Betting Alliance (SBA), a group of leading US gambling operators, has declared its opposition to two sports betting ballots in California, saying it will not financially support either initiative.

Both ballots would give tribes exclusive rights to offer retail and online sports betting in California. They were filed with the state’s attorney-general in October 2023.

CALIFORNIA’S SPORTS BETTING BALLOTS WERE FILED WITH THE STATE’S ATTORNEY-GENERAL IN OCTOBER 2023

The two ballots name Reeve Collins, co-founder and CEO of Pala Interactive, as the contact for media inquiries. Pala Interactive was founded by the Pala Band of Mission Indians in 2013. It was acquired by Boyd Gaming in November 2022.

Authors of the ballots have been seeking financial support for signature gathering from sports betting operators. However, SBA members – BetMGM, DraftKings, FanDuel and Fanatics Sportsbooks – have said they will not provide funding.

SBA blasts proposed ballots

SBA spokesperson Nat..

January 11, 2024

North Carolina sports betting launch edges closer as internal controls deadline set

North Carolina has taken a step closer to launching legal sports betting after the US state’s lottery commission set a deadline of 26 January for operators to submit their internal controls.

Operators applying for a sports betting licence in North Carolina must send over proposed controls by this date. The North Carolina State Lottery said this helps ensure the applicant is ready to launch on the market’s opening day.

The deadline was set during a Commission meeting staged yesterday (10 January). During the same meeting, the Commission approved processes and documents advising applicants on submitting internal controls for approval.

Each licensed operator must receive approval of internal controls before offering bets in North Carolina.

Uncertainty remains over opening date

the north carolina application process launched at the start of december

North Carolina is yet to set a launch date for legal sports betting, although it is expected to be in March 2024. Commission chair Ripl..

January 11, 2024

Vermont opens legal sports betting market

Vermont has announced the launch of its legal sports betting market, with players in the Green Mountain State now able to wager on sports with DraftKings, FanDuel and Fanatics.

The Vermont market opened at midnight local time today (11 January). Governor Phil Scott and department of liquor and lottery commissioner, Wendy Knight, confirmed the launch date last month.

Scott signed House Bill 127 into law in June of last year, legalising sports betting in the state. The bill permits up to six online sportsbooks to operate in Vermont. Licensed operators will pay tax at rate of 20% of adjusted gross sports betting revenue.

vermont signed house bill 127 into law in june 2023

So far, three operators have been approved to offer mobile sports betting. The Vermont Department of Liquor and Lottery selected DraftKings, FanDuel and Fanatics Sportsbook through a competitive bid process.

“We are pleased to have selected three of the industry’s top companies to offer Vermonters and visitors the o..

January 10, 2024

Maryland breaks sports betting handle again in December

In December Maryland set a new sports betting handle record for the second consecutive month, with players spending a total of $559.9m (£439.6m/€510.6m).

The December total, including promotional bets, is 1.7% ahead of the previous Maryland record of $550.7m in November. It is also 17.1% ahead of the $478.3m bet in December 2022, the first full month of legal online betting.

Of this total, some $541.7m was bet online, representing 96.7% of all bets. This included $19.7m in free promotional wagers. The remaining $6.2m was spent by players betting at retail sportsbooks across Maryland, with $32,146 in free bets.

Turning to revenue, overall taxable win in the state was $62.3m in December. This was 49.8% up from $41.6m in November but 26.7% behind $85.2m in December 2022.

Mobile betting generated $60.1m in hold, with retail’s contribution at $2.3m.

After accounting for $19.8m in promotional wagers, monthly revenue stood at $43.2m. The December figure was more than double November’s $2..

January 10, 2024

Georgia sports betting bill returns to senate

A bill seeking to legalise sports betting in Georgia has been recommitted to the US state’s senate.

Senate Bill 172 was submitted in Georgia in February last year by State Senator Bill Cowsert. It went up against a rival bill, HB380, that also sought to regulate and legalise sports betting in the state.

The bill made it as far as a third reading in the senate. It was shelved in August but has now returned as sponsors seek to push through the bill and launch legal wagering.

The latest version of SB172 is very much unchanged in its core goal. Measures set out in the bill are near enough identical to last year’s version, with proposals covering matters such as licence fees and tax.

No limit on licences issued in Georgia

SB172 comprises several licence types, with each having different fees. The Georgia Sports Betting Commission would oversee the awarding of licences.

A type one sports betting licence covers wagering through an online sports betting provider. This would command an..

January 9, 2024

GiG powers Betway launch in Portugal

Gaming Innovation Group (GiG) has partnered with Betway to support the online sports betting operator’s launch in Portugal.

Under the arrangement, GiG is providing its igaming platform and sportsbook to Betway in the country.

Plans for the Portugal-facing deal were first announced back in April 2022. Betway secured licences for sports betting and igaming in the country in February 2020.

plans for the launch were first announced in april 2022

Betway becomes the second B2B partner to launch with GiG in Portugal. GoldenPark also went live in the country last year, utilising GiG’s player account manager and sportsbook.

“As part of our ambitious growth strategy for Portugal in 2024, this GiG platform will help play a role in expediting our objectives to elevate the sports betting experience for existing Betway customers in Portugal and appealing to new ones,” Betway CEO Anthony Werkman said.

“This agreement will also allow our teams to work in synergy to reach our shared goals and as..

January 9, 2024

Maine sports betting handle exceeds $44.0m in December

Players in Maine spent $44.0m (£34.5m/€40.2m) betting on sports in December, while the Pine Tree State’s two licensed operators – DraftKings and Caesars – generated $4.4m in adjusted gross receipts.

Total handle for December amounted to $44.5m. This was 18.4% higher than the $37.6m spent in Maine during November, the state’s first month of legal betting.

Maine launched its regulated market on 3 November 2023, with December being the first full month of legal sports wagering.

maine launched its regulated market in november 2023

Bettors won $39.9m from betting in December. After discounting these winnings, $107,478 in federal excise and $132,376 worth of voided and cancelled bets, adjusted gross receipts of $4.4m were left. This was 4.4% lower than $4.6m in the opening month.

The State of Maine Gambling Control Unit added that legal betting generated $437,884 in tax. Both DraftKings and Caesars pay tax at a rate of 10% of adjusted gross receipts.

DraftKings the Maine player

So fa..

January 8, 2024

Corinthians signs record R$370m deal with VaideBet

Corinthians has announced a R$370m (£59.8m/€69.4m/$75.9m) deal with VaideBet, the biggest ever sponsorship in Brazilian football history.

One of the biggest clubs in Brazil, as well as South America, Corinthians will have VaideBet as its front-of-shirt sponsor for the next three years. The partnership is VaideBet’s first move into the football market.

The agreement comes in the wake of the approval of Bill 3,626/2023, with sports betting soon to be legal in the country.

Corinthians president Augusto Melo said: “We are very happy to bring Corinthians the biggest sponsorship in the history of Brazilian football. We have always stressed that Corinthians has the biggest brand in South American football and one of the biggest in world.”

Andre Murilo, chief financial officer of VaideBet, added: “Sponsoring Corinthians is sponsoring not only one of the main institutions in Brazil, but also a club with a very beautiful history and a fan base that is admittedly passionate, engaged and uniqu..

January 8, 2024

Kambi CEO Kristian Nylén announces resignation

CEO and co-founder of Kambi, Kristian Nylén, has notified the board of his intention to step down from his current position during the year, upon the appointment of a successor.

Nylén co-founded Kambi with Anders Strom in 2010. He has since built the company into one of the industry’s leading sportsbook suppliers.

It is understood that Nylén’s decision to resign is driven by his desire to spend more time with his family.

Commenting, Nylén said: “The decision to stand down from my position at Kambi after so many enjoyable years has been difficult, but one predominantly driven by my desire to spend more time with my young and growing family.”

Nylén plans to stand down from his current position during the year, upon the appointment of a successor.

The market has so far not reacted too heavily to the news. At the time of writing, Kambi’s share price was down 1.83%, to SEK160.50 (€14.79/ £12.29/ $15.69).

Timing of Nylén’s resignation

Nylén’s announcement follows a period of sustai..

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Tag: Online sports betting