Online sports betting – Page 52

September 27, 2023

Flutter acquires majority stake in Serbia’s MaxBet for €141m

Flutter Entertainment has acquired an initial 51% stake in Serbian omnichannel sports betting and gaming operator for €141.0m (£122.6m/$149.0m) in cash.

The deal, Flutter says, provides the group with access to the regulated Serbian market and supports its ongoing expansion plans, including within the wider Balkans region.

The agreement also states that Flutter has the opportunity to acquire the remaining 49% in MaxBet in 2029.

Ranked among the leading operators in Serbia with an approximate 20% online share, MaxBet employs more than 2,400 staff. In the 12 months to June 2023, it posted €145.0m in regulated revenue and €32.0m worth of adjusted EBITDA.

The transaction remains subject to customary regulatory clearances but is due to close in the first quarter of 2024.

“I am excited to announce the addition of MaxBet to the Flutter portfolio,” Flutter chief executive Peter Jackson said. “This acquisition continues our progress against the strategic priorities we have set for our inte..

September 26, 2023

Genius Sports unveils BetVision sports streaming solution

Genius Sports has announced the launch of BetVision, a new sports betting solution that allows players to place bets from within live video on sportsbook apps.

Initially available via Caesars Sportsbook and Fanatics Sportsbook, BetVision will cover NFL games in the US in its opening weeks.

Low latency live game video streams will feature integrated betting odds and betslips. These will be accompanied by in-game betting alerts and on-screen offers during breaks in play.

Operators running BetVision will stream nationally distributed and local, regionalised live NFL games each week. Additional features and functionality will be added during the 2023 NFL season.

“BetVision is leading a new era of immersive sports experiences,” Genius Sports CEO Mark Locke said. “The launch brings together our capabilities across data tracking, video streaming, live data and sports wagering to create a game-changing product for sportsbooks.

“Sports fans and bettors alike increasingly demand personalise..

September 25, 2023

BetMGM signs Hollywood star Chris Rock to support UK launch

MGM Resorts International has signed Hollywood actor Chris Rock to support the launch of its BetMGM brand in the UK market.

As an ambassador, Rock will feature in a range of marketing campaigns to promote the UK roll-out of BetMGM.

The first such campaign is now live, with Rock sharing details of various special offers to market the launch. These include bonuses and prices boosts, as well as information about exclusive content available from BetMGM.

BetMGM has also rolled out a responsible gambling advert specific to the UK market. Both campaigns are active across live sport, TV, out of home, digital, radio and social.

“We are incredibly excited to launch BetMGM in the UK and give customers something new,” BetMGM UK director Sam Behar said. “This campaign leverages the heritage of MGM Resorts’ best-in-class Las Vegas entertainment to deliver a unique proposition to the UK market.

“Alongside standout promotions and our A-list ambassador Chris Rock, this campaign clearly demonstra..

September 25, 2023

New Hampshire reveals year-on-year sports betting decline in August

Sports betting revenue and handle in New Hampshire both declined year-on-year during August, although player spending was higher month-on-month.

Handle in New Hampshire reached $38.8m in August, down 10.6% from $43.4m for the same month in 2023. However, the total was 5.2% more than the $36.9m spent on sports betting in July this year.

Some $34.8m was spent betting online with DraftKings and $4.0m at retail sportsbooks in the state. DraftKings secured exclusive rights to offer sports betting online via the New Hampshire Lottery in November 2019.

As for gross gaming revenue, this was down both year-on-year and month-on-month in the state.

For August, revenue amounted to $3.4m, a drop of 19.1% from $4.2m last year and 2.9% behind $3.5m in July. Online betting accounted for $3.1m of revenue, with retail’s share at $270,235.

It was also revealed that New Hampshire collected $1.5m in sports betting tax in August.

Year-to-date sports betting spend surpasses $75.0m in New Hampshire

Loo..

September 25, 2023

Entain online revenue fails to meet expectations in Q3

Safer gambling measures, slower growth in key markets and sporting results hindered Entain's Q3 performance, although the group remains on track to hit EBITDA guidance.

In a trading update, Entain says online net gaming revenue (NGR) has been mixed across the group in recent weeks. While it still expects to achieve growth during Q3, Entain says that, on aggregate, this will be softer than anticipated.

Third quarter online NGR growth is now expected to rise by a high single-digit percent. However, Entain also says it will likely decline by a high single digit percent on a pro forma basis.

Reasons for this, Entain says, include adverse sports results impacting sports margins during September and slower growth than expected in Australia and Italy. It also noted the impact of safer gambling measures across the group and ongoing regulatory headwinds persisting longer than expected, particularly in the UK.

However, Entain also noted drivers of growth within its online business. The..

September 20, 2023

Michigan online gambling revenue rises 13.2% in August

Combined online sports betting and igaming revenue in Michigan increased 13.2% year-on-year to $175.4m (£141.5m/€164.2m) in August, with this total almost level month-on-month.

Gross internet gaming and sports betting receipts from commercial and tribal operators is ahead of $154.9m in August 2022. It is also only slightly below $176.1m worth of online gambling revenue in Michigan in July this year.

Online casino gaming gross receipts hit $152.2m, up 16.3% on last year but behind July’s $153.9m total.

Read the full story on iGB North America

September 20, 2023

Pennsylvania sports betting revenue drops 35% in August

Sports betting revenue in Pennsylvania declined 35.1% year-on-year in August, although the US state was still able to report an overall increase in gambling revenue.

Total revenue from gambling in Pennsylvania hit $457.2m (£369.0m/€428.0m) in August. This was 7.5% more than $425.4m in August 2022 but 2.1% less than $467.0m in July this year.

Retail slots remain the primary source of gambling revenue in the state by some distance, drawing $203.2m. This is 1.0% higher than last year. Retail table games also jumped 5.4% to $82.7m.

Read the full story on iGB North America

September 19, 2023

French competition authority clears FDJ for ZeTurf acquisition

France’s national competition regulator, l'Autorité de la Concurrence, has cleared the country’s national lottery operator Française des Jeux (FDJ) to acquire online horse racing betting site ZeTurf Group.

However, FDJ will have to change several aspects of its operations to address the regulator’s concerns about risks to competition.

In particular, FDJ has committed to separating its monopoly and competitive gaming operations. It also has said it will allow any French licensed operator to access the common pool of horse racing bets it manages.

L’Autorité outlines competition concerns

Despite both FDJ and ZeTurf offering online sports betting, their low combined market share meant this alone did not concern the regulator.

Instead, l’Autorité said problems could come from FDJ’s monopoly on lottery games and retail sports betting.

It argued that, because of its exclusive rights to offer these segments, the new combined business may have been tempted to restrict the competition..

September 19, 2023

OpenBet enters newly regulated Brazilian sports betting market with Play7.Bet

Sportsbook technology provider OpenBet is to expand into the newly regulated Brazilian sports betting market through a partnership with Play7.Bet.

Under the deal, OpenBet will provide technology to power Play7.Bet’s retail and online sports betting offering in Brazil.

This arrangement includes the OpenBet betting engine, managed trading services and player account management (PAM). Tech will be made available across land-based and digital wagering.

In addition, Play7.Bet will benefit from OpenBet’s partnership with Neccton. This covers responsible gambling, anti-money laundering and fraud detection within the gambling sector.

“From the very first days of the UK market through Greece, Australia and the US, it has always been clear that investing in and partnering with competent local companies with coherent and compelling plans, is a strong foundation for success in new markets,” OpenBet chief executive Jordan Levin said.

“For this reason, we are pleased and honoured to have been s..

September 18, 2023

West Flagler files motion to stay ahead of Supreme Court appeal

West Flagler Associates filed a motion in the US Court of Appeals for the DC Circuit to keep Hard Rock Bet shut down ahead of its appeal to the Supreme Court.

The filing by the two Florida pari-mutuel betting operators is the latest twist in the fraught legal battle questioning whether the Seminole Tribe are permitted to offer statewide online sports betting through their compact with the state.

West Flagler lost its case against secretary of the interior Debra Haaland in June, clearing the compact from federal objections. Following this loss, it appealed for a rehearing, which the court rejected.

In the motion West Flagler confirmed they would be seeking to appeal the case to the Supreme Court, confirming previous speculation.

If the court opts to deny the motion, then the Seminoles could launch online wagering through its Hard Rock Bet platform as early as tomorrow. Despite this, the tribe may prefer to wait and see how the case will proceed in the Supreme Court to remove legal a..

September 18, 2023

Dazn Bet launches in Germany

Sports betting operator Dazn Bet has launched in Germany, after it was licensed to operate in the country in August.

Dazn Bet was formed in April 2022 through Dazn’s partnership with Pragmatic Solutions. The operator was added to the sports betting section of Germany’s white list last month.

The white list was set up after Germany’s Fourth State Treaty on Gambling (GlüNeuRStv) was enacted in July 2021. The GlüNeuRStv also brought about Germany’s regulator, Gemeinsamen Glücksspielbehörde der Länder (GGL).

“Dazn Bet is an offer to Dazn users and people interested in sports betting to immerse themselves in a new kind of sports experience,” said Gabriel Vollmann, Dazn Bet managing director, DACH.

“The close cooperation with the German authorities and the brand partnership with Dazn reflect our commitment to be a safe provider in a regulated market where the player’s enjoyment is at the centre.”

Alongside sports betting services, Dazn Bet will also provide safer gambling materials to..

September 18, 2023

Massachusetts sports betting revenue falls despite handle rise in August

Sports wagering handle in Massachusetts reached $314.9m (£254.4m/€295.3m) in August, a month-on-month increase of 6.8%, although revenue in the state declined.

The figure was higher than $294.9m in July, which was the lowest total since Massachusetts launched legal betting in April.

Some $307.2m was spent wagering online, an increase of 6.6% from July. Retail betting was also 13.2% higher at $7.7m for August.

Handle rise fails to halt revenue drop

However, while handle was higher month-on-month, the same could not be said for revenue from sports betting. Total revenue in August hit $22.7m, down 22.8% from $29.4m in July.

Of this total, $22.6m came from online betting, a decline of 21.5% from July. Just $157,782 was generated in retail wagering revenue, down 72.6%.

DraftKings leads in Massachusetts

DraftKings remains the runaway leader, posting $10.8m from $161.9m in bets during August.

FanDuel again placed second with $7.4m off a $79.4m handle, then BetMGM on revenue of $2.4m f..

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Tag: Online sports betting