Online sports betting – Page 56

August 18, 2023

Washington DC sports betting handle slumps to $7.7m in July

Player spending on sports wagering in Washington DC declined 31.9% year-on-year to $7.7m in July, although gross gaming revenue was higher.

Monthly handle was some way behind the $11.3m wagered in July 2022. The figure was also 31.3% less than $11.2m in June of this year.

However, there was better news in terms of gross gaming revenue. In July, revenue in DC hit $1.4m, up 16.7% from $1.2m last year and 188.3% ahead of June’s $484,672 total.

Gambet back on top in DC

Gambet, run by the DC Lottery and powered by Intralot, reclaimed top spot in the market in July. The brand posted $486,970 in revenue from $3.1m in total wagers.

Caesars Entertainment, which led the market in June, placed second with betting revenue of $435,049 and a $2.7m handle.

BetMGM was next with $318,222 from $1.2m in bets, then Grand Central Bar, partnered with Elys Game Technology, on $137,458 off $329,694.

FanDuel, which operates a retail sportsbook at Audi Field, posted revenue of $17,790 from a handle of $3..

August 18, 2023

Caesars extends online racebook to New York

Caesars Entertainment has announced the launch of its mobile horse racing wagering app and website in the state of New York.

The Caesars Racebook product offers New York consumers access to pari-mutuel wagering on races from more than 300 tracks worldwide.

Caesars Racebook is also integrated with the Caesars Rewards loyalty programme. Players earn points for each wager placed and can exchange these credits for experiences at any Caesars location across the US and Canada.

The New York launch follows successful rollouts of the racebook in a number of other states. These include California, Colorado, Florida, Indiana, Kentucky, Louisiana, Maryland, Massachusetts, Minnesota, Montana, North Dakota, Ohio, Oregon, Pennsylvania, Washington and Wyoming.

Caesars said plans are in place to also launch the racebook product in more states across the US.

Joint effort in New York with NYRA Bets

“Building on the popularity of our Caesars Sportsbook app, we are thrilled to launch Caesars Racebook..

August 18, 2023

LiveScore Bet backs Women’s World Cup to reach new heights

The Lionesses are in the final and, for LiveScore Bet, betting on the Women’s World Cup has enjoyed exponential growth. The women’s game is now as much of a component of the app as the Premier League, says sportsbook director James McKay.

Making a like-for-like comparison on Women’s World Cup betting is particularly tricky for LiveScore Bet. The 2019 tournament in France took place almost two years before LiveScore Group added its namesake betting product to its ecosystem, alongside its sports media app.

It was up and running for last summer’s European Championships, where the Lionesses triumphed over Germany in the final. That victory, sportsbook director James McKay explains, played a huge role in bringing a wider audience in the UK.

“The audience is there even if the England team hadn’t made the knockout stages in Australia and New Zealand,” McKay says.

the lionesses’ euros victory increased the Women’s world cup audience in the UK, says LiveScore Bet’s james McKay

Following..

August 17, 2023

Arizona betting handle reaches $393m in June

Consumers in Arizona wagered $393.2m on sports in June, an increase on last year’s handle but another month-on-month decline in the state.

The June handle was 23.3% ahead of $318.8m in the same month last year but 12.0% behind $446.9m in Arizona in May 2023.

Some $390.3m was spent betting online, with just $2.3m wagered at retail sportsbooks in Arizona.

Players won $364.9m from sports betting, leaving $27.7m in adjusted gross event wagering revenue before free bets. This represented a 79.9% increase from $15.4m in 2023 but an 18.9% fall from $33.9m in May.

Online betting adjusted gross event wagering revenue before free bets amounted to $27.6m. In contrast, retail’s share reached just $31,060.

Free bets in Arizona hit $11.4m

When taking off $11.4m in free bets and promotional credits, adjusted gross revenue hit $16.4m. This was 113.0% up from $7.7m last year but less than half May’s $33.9m total.

Online betting drew $16.3m in adjusted revenue total, compared to $31,060 from reta..

August 17, 2023

New Jersey gambling revenue surpasses $500m in July

Gambling revenue in New Jersey exceeded $500.0m in July following year-on-year growth in almost all areas of the market.

Revenue for the month amounted to $506.2m. This was 5.3% up on last year and also 10.7% higher than New Jersey’s total in June of this year.

Land-based casino gambling drew $290.0m in revenue during the month, down 3.0% on July 2023. This was due to a 13.2% drop in table games revenue to $72.2m. In contrast, revenue from physical slot machines, the largest source of revenue in the state, edged up 0.9% to $217.8m.

Turning to online gambling and overall revenue in this segment was 13.5% higher year-on-year at $155.2m. Online slots revenue jumped 13.4% to $152.5m while peer-to-peer poker revenue was 18.5% higher at $2.7m.

Breaking down this market, Borgata moved into top spot with $43.0m. This was higher than Resorts Digital on $40.6m and Golden Nugget, which led the market in June, with $39.8m.

New Jersey sports betting revenue up over 35%

Looking at sports wager..

August 17, 2023

New Hampshire sports betting spend dips to $36.9m in July

Player spending on sports wagering in New Hampshire fell 13.6% year-on-year to $36.9m in July, while revenue also declined.

July’s handle in New Hampshire was down from $42.7m in July 2022 and also 6.1% lower than $39.3m in June this year.

Of this total, $33.4m was wagered online with DraftKings and $3.5m at retail sportsbooks. DraftKings has held the exclusive rights to offer sports betting online via the New Hampshire Lottery since November 2019.

Turning gross gaming revenue from wagering, this amounted to $3.5m. The July total was down 22.2% from $4.5m last year and 20.5% behind $4.m in June 2023.

Breaking down the monthly revenue performance, some $1.4m came from online betting with DraftKings. Retail sportsbooks generated just $179,994 in revenue.

In terms of tax, New Hampshire was able to generate $1.6m during the month.

New Hampshire betting revenue and handle up in FY23

July was the first month of the state’s new financial year. During fiscal year 2023, players spent a t..

August 17, 2023

Impairments push Rank Group to FY loss despite land-based recovery

Rank Group posted a 5.9% increase in revenue to £681.9m (€798.0m/$868.1m) in its 2022-23 financial year, although increased impairment costs led to a statutory net loss.

The operator reported year-on-year growth across all operating segments in the 12 months to 30 June. This included the Rank-owned Grosvenor, Mecca and Enracha land-based businesses, which endured a challenging few years during the pandemic.

There was also notable growth within Rank’s digital business, with revenue rising 10.4% to reach £202.9m.

However, higher impairment charges, together with increased operating costs, meant the business posted a net loss.

O’Reilly believes economic pressures are easing

Chief executive John O’Reilly acknowledged the higher costs during his evaluation of the FY performance. However, he said with certain costs now stabilising and inflation easing, this will allow for revenue and profit growth moving forward.

After Covid and economic headwinds, rank is positioned to drive profit ..

August 16, 2023

Fanatics launches online sportsbook in four states

The latest challenger to the US online sports betting market, Fanatics Betting and Gaming (FBG), has launched its online sportsbook in Maryland, Massachusetts, Ohio and Tennessee.

After six months of beta testing, the Fanatics Sportsbook is now available to download on iOS and Android.

FBG highlights the new platform’s simplified betting and transparent withdrawals as features that will help it appeal to sports fans.

The sportsbook includes live scores, plus lines and odds for teams and athletes. Also included are moneyline bets, spread bets, over-unders, player props, live-in-game betting markets and same-game parlays.

Fanatics bets on product quality

“After six months of beta testing, we are excited to officially launch the Fanatics Sportsbook product to the public,” said FBG chief product officer Scot McClintic.

the fanatics sportsbook

McClintic also pointed to the business’ extended focus on product quality as key to its strategy.

“We are laser focused on solving pain poi..

August 16, 2023

FL sports betting hits latest obstacle as rehearing petition filed

The relaunch of the Seminole Tribe’s Hard Rock Bet online sportsbook may face another delay, as pari-mutuel betting operator West Flagler Associates files a petition calling for a rehearing of the case it lost on 30 June.

On 14 August, West Flagler submitted a petition for rehearing to the DC Circuit court, following the betting operator’s loss in the recent West Flagler Associates vs Haaland case.

This case cleared the path for the Seminoles to offer sports betting statewide in Florida, by confirming the state’s “hub-and-spoke” model sports from federal objections.

West Flagler file en banc rehearing

West Flagler’s filing called for an en banc rehearing. This means the case would be reheard by all judges on the bench at the DC Circuit Court, as opposed to the panel of three that heard the original case.

According to the Yale journal on regulation, a successful en banc rebench petition is a rare event in the DC Circuit.

the dc circuit rarely grants a en banc rebench petition

August 16, 2023

Massachusetts sports betting handle dips below $300m in July

Player spending on sports betting in Massachusetts fell for the fourth consecutive month in July, while revenue was also down month-on-month.

Total handle for retail and online sports betting reached $294.9m. This was 11.3% less than $332.0m in June and the lowest monthly total since the launch of legal online betting in April.

It was also the first time that combined land-based and internet betting spend fell below $300.0m.

Online wagering accounted for $288.1m, down 10.9% month-on-month. Retail betting also fell 20.0% to $6.8m.

Handle dip leads to revenue decline

Taxable revenue from sports betting also declined in July. The combined total from retail and online wagering reached $29.4m, a drop of 8.7% from June’s $32.2m.

Of this total, $28.8m came from online betting, down 10.3%. The remaining $576,139 was generated by retail wagering, which was 274.3% higher than June.

Looking at individual operators, DraftKings remained the runaway online leader, posting $14.4m in revenue of..

August 16, 2023

iGB pens strategic partnership with Glücksspielwesen.de

iGB has entered into a strategic partnership with Glücksspielwesen.de, the gambling-focused arm of Germany’s monthly news title for public servants, Behörden Spiegel.

Under the agreement, iGB will leverage its audience to connect the gambling industry with Glücksspielwesen’s network of policy analysts, advisers and politicians.

iGB will work with Glücksspielwesen on joint activations including content initiatives such as webinars. The deal also covers event support, with the aim of bringing together gaming operators and suppliers with Germany’s political classes.

The partnership comes in the wake of Germany’s reregulation of gambling. Earlier this year, the country welcomed Gemeinsamen Glücksspielbehörde der Länder (GGL) as its new federal regulator to oversee the market.

Creating a forum for engagement

“Clarion Gaming, the parent company of iGB, is clearly the champion of information in the gaming and gambling industry,” Behörden Spiegel senior consultant Robert Hess said. “Glüc..

August 16, 2023

Online growth drives US gaming revenue to record $16.1bn

US commercial gambling revenue reached a Q2 record of $16.07bn, the 10th consecutive quarter of growth, according to the American Gaming Association (AGA).

This represented an 8.1% increase from the total US gaming revenue recorded in Q2 2022 and is the second-highest grossing quarter in industry history, with only Q1 this year reporting a higher figure.

Overall, the US gambling industry generated $32.71bn in commercial gaming revenue for the six-month period, up 11.9% from last year.

AGA estimated the results led to $7.28bn in gaming tax revenue for state and local governments, a 12.9% increase from 2022. The trade body highlighted the industry is on track to contribute the highest total in tax revenue it has done in its history.

“While commercial gaming is on track for an unprecedented third consecutive year of record revenue, the lasting impact we’re making on our communities through this record growth is even more impressive,” said AGA president and CEO Bill Miller.

Online gam..

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Tag: Online sports betting