Online sports betting – Page 45

December 4, 2023

Rhode Island betting handle and revenue reach 10-month high in October

Sports betting handle and revenue in Rhode Island hit a 10-month high in October, although the Ocean State reported year-on-year declines across both.

Rhode Island players spent a total of $45.8m (£36.1m/€42.2m) betting on sports in October. This was down 25.2% from $61.2m in October 2022 but 21.8% more than September this year.

It was also the highest monthly total since a record $62.3m was bet in January 2023.

Of this total, $36.4m was wagered online and $9.5m at retail sportsbooks. This includes $6.3m at Twin River and $3.2m at Tiverton Casino.

Rhode Island revenue slips year-on-year

Turning to revenue and it was a similar year-on-year story for Rhode Island. The $4.5m posted in October was 8.2% less than $4.9m in the same month last year but 28.6% more than $3.5m in September.

It was also noted that the October figure was the second highest of the calendar year. The $5.2m generated in January is the only higher monthly figure so far in 2023.

Mobile betting accounted for $3..

December 4, 2023

Maine sports wagers surpass $37.0m in opening month

Consumers in Maine spent more than $37.0m (£29.1m/€34.0m) betting on sports during the first month of legal wagering in the Pine Tree State.

Total handle in the month amounted to $37.6m. Maine launched its market on 3 November, with the reporting period covering the 27 days to the end of November.

Players won $32.7m from wagering during the month. After discounting $137,112 in voided bets and $82,342 in federal excise tax, this left adjusted gross receipts of $4.6m.

In addition, the State of Maine Gambling Control Unit says $464,152 was collected in other tax. Operators pay at a rate of 10% of adjusted gross receipts.

DraftKings ahead of Caesars in Maine

Looking at operators active in the opening month, only DraftKings and Caesars were live in November. Both launched in Maine on the market’s opening day on 3 November.

DraftKings performed the better of the two, posting $4.3m in adjusted gross receipts from a $30.5m handle. The operator is working with the Passamaquoddy tribe to o..

December 1, 2023

Connecticut Lottery names Fanatics as sports betting partner

The Connecticut Lottery Corporation has named Fanatics Betting and Gaming (FBG), a subsidiary of Fanatics, as its new sports betting partner in Connecticut.

As part of the deal, the Fanatics Sportsbook will become the Connecticut Lottery’s exclusive sports betting partner, covering both mobile and retail betting. The transition is expected to occur in mid-December.

The Fanatics Sportsbook will be available across ten retail betting locations in Connecticut, as well as on mobile.

Greg Smith, president and CEO of the Connecticut Lottery, said it expects growth in market share as a result of the partnership.

“Fanatics is the only true sports brand in the gaming space and has established itself as an innovator in the industry,” said Smith.

“We have been impressed with the Fanatics team, their aggressive entry into the US sports betting market and we are excited to see how they redefine the sports betting customer experience here in Connecticut.

“CLC anticipates notable market share ..

December 1, 2023

North Carolina approves online sports betting licence applications

The North Carolina State Lottery Commission has approved applications for sports betting licensure, with operators able to begin applying for licences in the state.

Online sports betting operators, as well as associated sports betting suppliers and providers, can now submit applications. The North Carolina State Lottery Commission will review any applications put forward.

The approval takes North Carolina a step closer to launching its legal sports betting market. Governor Roy Cooper signed House Bill 347 into law in June, officially legalising wagering.

However, a launch date for the market has not yet been confirmed. Commission chair Ripley Rand said this will depend on a number of factors, primarily how long the application process takes.

Rand said the Commission will need to review all applications and supporting information. It will also need to complete background checks and analyse all internal control details before it can set a launch date.

The Commission has 60 days to r..

November 28, 2023

New Hampshire sports betting handle hits seven-month high in October

Consumer spending on sports wagering in New Hampshire reached its highest level in seven months in October, while monthly revenue was its highest since January.

Handle for October reached $77.8m (£61.7m/€71.1m). This was 14.8% lower than $91.3m in October of 2022 but 16.5% ahead of $66.8m in September of this year. It was also the largest monthly spend in New Hampshire since a record $103.4m was bet in March 2023.

Of this total, $65.9m was bet on mobile and $12.0m at retail sportsbooks located across New Hampshire. This is according to figures published by the New Hampshire Lottery.

DraftKings remains the only operator offering online sports wagering in New Hampshire. It secured exclusive rights for the state in November 2019.

Betting revenue reaches $8.8m in October

Turning to gross gaming revenue, this amounted to $8.8m during October. This was down 3.3% from $9.1m in October last year but 41.9% higher than the $6.2m that was posted in September this year.

The lottery noted the..

November 27, 2023

Brazil’s upcoming vote: Everything you need to know

Brazil's Senate plenary could vote to legalise sports betting and online casino on Wednesday (29 November). Ahead of the vote, we bring you all you need to know about the journey so far.

Before we delve into the complex legal history of sports betting in Brazil, let’s start off with last week’s key step.

Last Tuesday (21 November), the industry was waiting eagerly for Brazil’s Economic Affairs Committee (CAE) to vote on whether to greenlight sports betting and igaming through Bill 3,626/2023. This was delayed by one day on the request of senators, according to Senado Noticias.

The bill will now head to the Senate Plenary this Wednesday (29 November)

The CAE’s eventual approval on Wednesday 22 November gave the thumbs-up for the bill to move to the Senate plenary. This session will now take place this Wednesday (29 November). If the plenary vote goes in the bill’s favour, sports betting and igaming will officially be legal in Brazil.

Importantly, the outcome at the CAE confirm..

November 23, 2023

Wyoming smashes online sports betting records in October

Bettors in Wyoming wagered $21.2m (£16.9m/€19.5m) on sports online during October, the highest monthly amount since the Equality State opened its legal market, while revenue also reached an all-time high.

The October total exceeds the previous record of $19.2m set in Wyoming in September this year. It was also 23.4% higher than October of last year.

Gross gaming revenue for the month amounted to $2.3m, another new record for the state. This is up 15.0% from last year and 53.3% more than $1.5m in September 2023.

There was also an all-time monthly high for taxable gaming revenue of $1.4m. This increased 21.7% from October 2022 and 172.6% from $517,523 in September.

Wyoming players won a total of $19.0m from online sports betting, while tax hit a record $141,087.

DraftKings led the market with $1.4m in revenue from $12.5m. FanDuel placed second in Wyoming with revenue of $402,961 and a $4.9m handle.

Meanwhile, BetMGM posted $378,344 in revenue from $3.5m in online sports bets. Caesa..

November 23, 2023

The art of harnessing artificial intelligence for sportsbooks

As we’ve seen this year, the groundbreaking and rapidly evolving technology powering artificial intelligence (AI) is sure to revolutionise the economy, including the world of sports betting. In the second part of this two-part series, Russell Karp, senior vice-president of DataArt, focuses on the many ways sportsbooks can benefit from harnessing the art of AI.

Today, one of the most promising uses of AI in sports betting is bettors’ ability to use the technology to place bets more strategically and attempt to minimise their losses.

Apps like BettorTakes and Juice Reel aim to boost users’ performance through comprehensive analytics of their past betting behaviours. As BettorTakes CEO Steve Rubenfaer described in an interview with DataArt this year, the app “show[s] you your patterns, biases and things you might not know about yourself”.

With these apps, AI can be used to assess bettors’ gambling history, in addition to player or team stats. AI can then present digestible, comprehensi..

November 22, 2023

Brazil sports betting tax rate set at 12% as attempt to remove igaming fails

A reduced 12% tax rate for Brazil sports betting was confirmed after the country's Economic Affairs Commission (CAE) approved Bill 3,626/23 today (22 November) while an attempt to remove igaming from the legislation was rebuffed.

The approval of the bill text by the CAE greenlights the bill to go to the Senate plenary. The Senate plenary vote will take place on 29 November, during which sports betting – alongside igaming – could be given the all-clear in Brazil.

If the Senate alters the bill text, it will go back to the Chamber of Deputies for review. The lower chamber approved Bill 3,626/2023 in September.

However it faced opposition from senators including Eduardo Girão and Carlos Portinho. Attempts to remove igaming from the legislation also failed during today’s session, after online casino was unexpectedly added to the sports betting bill in September.

The vote was set to take place yesterday before it was postponed by the CAE. According to the Senate agency on Senado Not..

November 22, 2023

Bet365 extends US reach with Louisiana launch

Online gambling operator Bet365 has expanded its presence in the US by launching its sportsbook product in the state of Louisiana.

Players in Louisiana can access the Bet365 website or download the sportsbook app and bet on a range of events. These include major league competitions such as the National Football League, National Basketball Association, National Hockey League and Major League Baseball.

Bettors will also be able to view live streams of certain events while they place bets.

Launching in Louisiana means Bet365 is now active in seven states across the US. Bet365 also operates in Colorado, Iowa, Kentucky, New Jersey, Ohio and Virginia.

“Celebrated for its passionate culture and festive spirit, we are thrilled to bring bet365 to Louisiana,” a Bet365 spokesperson said. “Now eligible customers from Shreveport to the Big Easy can enjoy our renowned products like amazing bet boosts, the fastest in-game experience and unique same game parlays.”

Betting handle and revenue recor..

November 22, 2023

Michigan online sports betting handle hits record $533m in October

Michigan consumers spent a record $533.0m (£424.9m/€488.2m) betting on sports online in October, marking the first time monthly internet bets in the Great Lakes State exceeded $500.0m.

Gross internet gaming and sports betting receipts from commercial and tribal operators in Michigan reached $205.3m during October. This was 7.9% ahead of $190.2m last year but 2.4% down from $210.4m in September 2023.

Online casino was again the main source of all internet gambling revenue in Michigan. Gross receipts in the igaming segment reached $160.3m, an increase of 13.7% from $141.0m in the previous year.

In contrast, sports betting gross receipts declined 8.5% to $45.0m. This was despite sports betting handle climbing to a new monthly high in Michigan.

Adjusted gross gaming receipts exceed $167m in Michigan

After accounting for promotional deductions, adjusted gross receipts (AGR) from igaming and sports betting was $167.7m. This was an increase of 5.8% from $158.5m posted in October of last..

November 22, 2023

Fanatics launches in Virginia as PointsBet switchover continues

The Fanatics Betting and Gaming (FBG) arm of Fanatics Holdings has rolled out its online sportsbook in Virginia, marking the latest phase of its acquisition of PointsBet US.

Virginia players who previously had accounts with PointsBet will now automatically switch over to the Fanatics Sportsbook.

Existing PointsBet users can log in to their Fanatics accounts using their original username and password. The migration will also include their account balance, rewards points and any responsible gaming settings.

New customers can also download the Fanatics Sportsbook app and start betting in the Old Dominion State.

The launch means that Fanatics has completed the acquisition and subsequent migration of PointsBet US in seven states. Fanatics is also active in Kentucky, Maryland, Massachusetts, Ohio, Tennessee and West Virginia.

The Virginia roll-out comes less than a week after Fanatics also went live in West Virginia. Last week’s launch also included a pilot of its new online casino, wi..

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Tag: Online sports betting