Online sports betting – Page 48

November 2, 2023

Maine to launch legal sports betting on 3 November

Maine will launch its legal online and retail sports betting markets tomorrow (3 November), with players able to start placing wagers from 9am local time.

Milt Champion, executive director for the Maine Gambling Control Unit (GCU), confirmed the news to iGB ahead of the launch. This comes after the Department of Public Safety (DPS) and GCU announced rules for wagering in Maine have been adopted.

Licensed operators and their management service were permitted to begin promoting their offerings from 1 November. They have also been able to accept registrations and deposits in preparation for tomorrow’s launch.

“I’d like to thank the dedicated staff at DPS, GCU, Adcare Maine Problem Gambling Services, the attorney-general’s Office and the sports wagering industry for their input and patience in the rulemaking process,” Champion said.

Long road to sports betting in Maine

The confirmed launch comes almost 18 months after sports betting was legalised in Maine.

The state’s governor, Jane..

November 1, 2023

How Adam Greenblatt is sharpening BetMGM’s competitive edge

Adam Greenblatt set BetMGM on a path to profitability and the business will be self-sustaining in the second half of 2023. How will he make sure the operator stays ahead in the US sports betting market as new competitors emerge?

July’s update on BetMGM’s first half performance confirmed the operator was on the path to profitability outlined by CEO Adam Greenblatt in June.

The business will be self-sustaining in the second half of the year. There will be no additional equity investment from joint venture partners MGM Resorts and Entain, beyond the $150m committed for 2023.

BetMGM CEO Greenblatt believes a new phase of competition could be imminent in the US

Greenblatt believes that BetMGM could operate as a separate business and stand on its own two feet if necessary.

“It could be a permanent state, absolutely,” he says of BetMGM as a self-sustaining entity. “[But] I think whether or not that is indeed a permanent state depends on how we want to ramp up and how quickly we want t..

November 1, 2023

DraftKings partners Passamaquoddy tribe for Maine sportsbook

DraftKings has reached an agreement in principle to partner with the Passamaquoddy tribe and launch an online sportsbook in the state of Maine.

The deal, DraftKings says, remains subject to licensing and regulatory approvals. Should it get the green light, DraftKings and the Passamaquoddy tribe will jointly launch the Maine-facing sports betting offering.

Players aged 21 and over will be able to access the DraftKings sports betting app. This offers a wide range of wagering options across various sports leagues and competitions.

The launch would mark the 25th US state in which DraftKings offers sports wagering.

“Building a relationship with the Passamaquoddy tribe is a fantastic opportunity for DraftKings, as we look to bring customers in the state of Maine safe and legal sports betting,” DraftKings co-founder and CEO Jason Robins said.

“We look forward to our continued collaboration with the Maine Gambling Control Unit as we become the official mobile sports betting provider of ..

October 30, 2023

Kambi scores sports betting partnership with LiveScore Group

Sports betting solutions provider Kambi Group has entered into a long-term partnership with the LiveScore Group.

Kambi will provide its sportsbook to the LiveScore group of companies, replacing a third-party supplier. This includes its sports media platform and two online betting brands.

Both the LiveScore Bet and Virgin Bet brands will run the Kambi product suite. This offering includes a sports betting platform, managed services, AI-powered trading and Bet Builder.

LiveScore Bet and Virgin Bet are currently active in a number of markets including the UK. The deal also covers the group’s subsidiaries in Gibraltar, Malta and Nigeria.

In addition, the LiveScore in-house product teams will utilise Kambi’s open APIs, incentives tools and bespoke bet offer specials.

The new Kambi-powered sportsbook will launch across multiple markets from Q1 next year. Kambi expects the agreement to contribute material revenue from the second half of 2024.

“With well-established sportsbook brands in ..

October 30, 2023

Tribal sports betting ballots filed in California

Two ballot initiatives that would give tribes exclusive rights to offer retail and online sports betting in California have been filed with the state's attorney-general.

Both 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 and was acquired by Boyd Gaming in November 2022.

The ballots were submitted on 27 October.

One of the proposed ballots, entitled The Sports Wagering Regulation and Tribal Gaming Protection Act, gives full detail as to how sports betting would work under tribes in California. Amending Article IV, section 19 of the California constitution, the proposal would mandate tribes to submit 15% of its adjusted sports wagering gross gaming revenue (GGR) into the tribal sports wagering revenue sharing trust fund.

Tribes would also have to contribute 10% of their adjusted sports wagering GGR into the California homelessness and mental health f..

October 30, 2023

Rhode Island sports betting handle hits six-month high in September

Players in Rhode Island spent $37.6m betting on sports in September, the highest monthly total since March but lower than last year.

The figure is 9.8% less than the $41.7m spent in Rhode Island in September 2022. However, it is 67.1% more than $22.5m in August this year and the highest total for six months.

Of this total, $28.7m was spent betting online and $9.0m at retail sportsbooks. Land-based wagers were placed at physical facilities at Twin River and Tiverton Casino. Twin River took $5.7m in bets and Tiverton Casino $3.2m.

September sports betting revenue reaches $3.5m

Revenue from sports betting in Rhode Island increased by 150.0% month-on-month in September to $3.5m. This was, however, 45.3% lower than $6.4m in September 2022.

Online betting accounted for $2.8m of all revenue during the month. Retail’s share was $663,538, split between Twin River and Tiverton Casino. Twin River posted $441,485 in revenue and Tiverton Casino $222,053.

Rhode Island players won a total of $3..

October 26, 2023

New Hampshire sports betting handle dips year-on-year in September

Consumer spending on sports wagering in New Hampshire declined 14.6% year-on-year in September, while revenue in the state also fell.

Handle in New Hampshire hit $66.8m in September. This was down from $78.2m in the same month last year but 72.2% higher than $38.8m in August 2023.

Online betting accounted for $59.2m of all sports betting spend during the month. Retail’s share amounted to $7.7m. DraftKings is the only operator that offers online sports betting in New Hampshire having secured exclusive rights in November 2019.

September revenue in New Hampshire tops $6.2m

Turning to revenue, this followed a similar pattern as handle. Gross gaming revenue reached $6.2m in September, down 16.2% from $7.4m in September 2023 but 87.9% up from $3.3m in August this year.

Mobile sports betting generated $5.6m in revenue, while retail wagering drew $609,874.

New Hampshire collected $2.7m in tax from sports betting in September. Some $2.4m came from online betting and $274,060 from retail a..

October 26, 2023

Louisiana sportsbooks take record $43.1m in revenue during September

Sports betting revenue in Louisiana reached an all-time high of $43.1m in September, while the state fell just short of its monthly handle record.

Combined online and retail gross revenue was 37.7% ahead of $31.3m in September of last year. The figure also comfortably surpassed the previous Louisiana record of $37.2m set in December 2022.

Of this total, $36.0m came from online betting and $5.7m from retail wagering in Louisiana.

In terms of adjusted revenue, which discounted promotional betting, revenue was $41.8m. This was 34.0% ahead of September 2022.

Louisiana September handle narrowly misses record

Turning to consumer spending, total handle for September stood at $280.1m. This was 37.4% ahead of $203.8m in 2022 and only just behind the record $282.3m wagered in January this year.

Players bet $248.8m on sports online and a further $31.4m at retail sportsbooks across the state of Louisiana.

Breaking down performance by sport, football was the most lucrative for operators, dra..

October 26, 2023

US Supreme Court denies West Flagler’s motion to stay

The US Supreme Court has denied West Flagler Associates' motion for a stay, giving hope to Florida's Seminole tribe for a sports betting relaunch in the Sunshine State.

Chief Justice John Roberts denied the motion to stay yesterday (25 October), which was described by the official Supreme Court blog as an “emergency application for stay”.

Brett Kavanaugh, Associate Justice of the Supreme Court, said in a statement that he agreed with the court’s decision.

“I agree that the stay application should be denied in light of the DC Circuit’s pronouncement that the compact between Florida and the Seminole tribe authorises the tribe to conduct only on-reservation gaming operations and not off-reservation gaming operations,” he said.

“If the compact authorised the tribe to conduct off-reservation gaming operations, either directly or by deeming off-reservation gaming operations to somehow be on-reservation, then the compact would likely violate the Indian Gaming Regulatory Act, as..

October 25, 2023

BetMGM seals Sportradar NBA tracking data deal

BetMGM will have access to products and services supported by NBA optical tracking data under an expanded partnership with Sportradar.

BetMGM will use the products to expand its in-play betting markets and its prop and parlay offerings.

Sportradar’s partnership with the NBA gives it access to player tracking data from the start of the 2023-24 season. The new NBA campaign got underway yesterday (24 October). Sportradar also exclusively provides NBA data worldwide and distributes live coverage of the league to sports betting operators globally .

Sportradar chief commercial officer Eduard Blonk said the BetMGM deal will support “the return-on-investment of our partnership with the NBA”.

“We’re pleased our value-add products and services will unlock the potential of NBA optical tracking data for BetMGM,” he said.

The NBA’s agreement with Sportradar was initially announced in 2021. As part of the deal, the league secured an equity stake in the data provider.

Jarrod Schwarz, chief prod..

October 25, 2023

A force to be reckoned with

There’s an element of fun to the niche sports Pro League Network (PLN) presented to regulators. But don’t doubt its impact, or PLN’s ability to harvest player attention, writes Cole Rush.

“It’s okay to laugh.”

That’s what Bill Yucatonis, co-founder of PLN tells regulators when he presents niche sports for potential wagering.

“We’re going to talk about mini golf today,” Yucatonis tells them. “It’s okay to laugh.”

With PLN, it’s all fun and games. There’s a serious side, sure – we’re talking about carefully constructed alternative sporting leagues, after all. But Yucatonis and his team don’t shy away from the lightheartedness that permeates PLN sports.

Yucatonis and his partner and co-founder Mike Salvaris concocted PLN almost two years ago. With backgrounds in the gaming and sports industry, they set out to bring “alternative sports” into the mainstream.

“We’ve got 16 leagues in our network and we’re growing,” says Yucatonis. “We look for sports that have some viral components and..

October 25, 2023

Arizona sports betting spend surpasses $358m in August

Consumers in Arizona spent more than $358.0m betting on sports in August, while operators in the state posted more than $30.0m in total revenue.

Total spend in Arizona amounted to $358.9m. This was marginally lower than the $361.0m bet in August 2022 but 11.1% ahead of $323.2m in July this year.

Arizona bettors wagered $354.6m betting on sports online and a further $3.4m at retail locations across the state.

Player winnings stood at $327.2m, resulting in $30.9m in adjusted gross event wagering receipts before free bets. The latter is 10.7% lower than in August last year and includes $30.2m from online betting and $606,731 retail.

Free bets exceed $9.4m in Arizona in August

Reporting the figure, the Arizona Department of Gaming also noted the impact of free bets and promotional credits. These hit $9.5m in August, compared to $8.5m in the same month last year, with almost all coming from online betting.

When taking these free bets off, adjusted gross event wagering receipts reached..

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Tag: Online sports betting