Online sports betting – Page 62

June 28, 2023

BetMakers concludes 10% share buy-back

Racing data and analytics provider BetMakers Technology Group said that it has now concluded its buy-back of 10% of the business' shares.

The buy-back – which began on 12 July 2022 – saw BetMakers repurchase 30,626,884 shares using the business’ cash reserves. Following the announcement, the provider’s shares rose 13%.

The news comes in the aftermath of BetMakers making a number of changes to its senior management team.

In January, the business announced a restructuring which saw CEO Todd Buckingham step down to take on the newly created position of chief growth officer.

BetMakers North American CEO Christian Stuart also announced his exit from the business in April as part of the organisational restructure.

The news came as BetMakers warned that it was facing negative growth in Q2 due to its outstanding investment commitments.

This trend continued in the company’s Q3 report. In the financial quarter the business saw continued cost pressures keeping the business at a loss, ..

June 23, 2023

Wynnbet launches online casino and sports betting in WV

Wynn Resorts-owned Wynnbet has rolled out online casino and sports wagering in the state of West Virginia.

The joint platform went live yesterday (22 June). Consumers can access slots and casino games such as live dealer blackjack and roulette, video poker and keno.

The Wynnbet Sportsbook will also allow players in the state to place bets on a wide range of leagues and competitions.

In addition, the platform will be integrated with Wynn Rewards. This will enable players to collect points that can be exchanged for real-life experiences and benefits with Wynn Resorts.

Read the full story on iGB North America

June 22, 2023

Michigan online gambling revenue hits $185.8m in May

Online gambling gross receipts in Michigan reached $185.8m in May, an improvement on last year but the second consecutive month of decline.

The combined total from igaming and sports betting across commercial and tribal operators was 15.5% ahead of $160.9m in May 2022. However, this was 5.1% less than the $195.7m generated in April of this year.

Online casino gaming gross receipts amounted to $150.6m, up by 18.2% year-on-year, while gross sports betting receipts climbed 5.1% to $35.2m.

It was also reported that total sports betting handle for the month amounted to $288.3m, a 15.0% drop on last year and a 10.7% decline from April.

Read the full story on iGB North America

June 22, 2023

NH reports further handle decline in May

Sports wagering revenue in New Hampshire increased both month-on-month and year-on-year in May despite another drop in handle.

Player spending for the month amounted to $52.1m, a 31.6% decline from $76.2m in the same month last year and also 20.0% lower than $65.1m in April this year.

Of this total, $46.4m was spent betting on sports online, while the remaining $5.7m was wagered at retail sportsbooks in the state.

However, despite a decline in handle, gross gaming revenue from sports betting during the month increased.

Read the full story on iGB North America

June 21, 2023

PA gambling revenue continues to rise in May

Gambling revenue in Pennsylvania increased both month-on-month and year-on-year in May to reach a total of $479.4m.

Revenue was 7.1% ahead of $447.8m in May of 2022 and also 0.6% higher than $476.7m in April this year.

Land-based slots remained the primary source of revenue by some distance, generating a total of $210.9m during the month. This was 2.5% more than in the same month last year.

In contrast, retail games revenue declined 7.8% year-on-year to $81.6m.

Read the full story on iGB North America

June 21, 2023

AGCO penalises BetVictor and Fitzdares over sports betting breaches

The Alcohol and Gaming Commission of Ontario (AGCO) has issued penalties to BetVictor operator BV Gaming and Fitzdares Canada for offering prohibited bets on major junior hockey.

Both operators allegedly offered bets on Canadian Hockey League (CHL) contests. These included Ontario Hockey League, Western Hockey League and Quebec Major Junior Hockey League.

Bets were taken during the 2022-23 season.

This, AGCO said, violated standards that prohibit betting on minor league sports including the CGL’s three major junior hockey leagues. Specifically, Standard 4.34, paragraph 15 outlaws wagering on this level of sporting event.

As such, BV Gaming (BetVictor) and Fitzdares Canada were each ordered to pay a penalty of CA$15,000 (£8,913/€10,380/US$11,337).

Read the full story on iGB North America

June 21, 2023

Malta regulator cancels MKC Limited’s licence

The Malta Gaming Authority (MGA) has cancelled MKC Limited’s licence after ruling that it breached a number of regulations.

Malta-based MKC had been operating the Betworld247 sports betting and casino site under its B2C gaming service licence. However, the regulatory decision means that it is no longer authorised to offer online gambling via this licence.

Setting out its decision, the MGA said MKC breached regulations 9(1)(c), (d), (i), (l) and 10(1)(a) of the Gaming Compliance and Enforcement Regulations.

Specific breaches included not making required licensing payments to the MGA and failure to meet other financial commitments related to its operations.

The regulator also flagged how MKC failed to meet commitments to customers in a timely manner but did not go into further detail.

“One of the grounds for suspension envisaged in regulation 9 arises and the Authority, in its sole discretion, determines that cancellation of the authorisation is the most appropriate measure,” the MG..

June 20, 2023

NJ gambling revenue continues to rise in May despite land-based declines

Gambling revenue in New Jersey increased month-on-month and year-on-year during May despite the state’s land-based market experiencing further declines.

Total revenue for the month amounted to $470.9m, which was 9.4% ahead of $430.6m in May 2022 and 1.8% higher than $462.7m in April of this year.

Land-based gambling remained the primary source of revenue at $227.3m, but this was down 2.4% from $227.3m last year.

Within the retail sector, slots revenue slipped 0.8% to $172.9m, while table games revenue also fell 7.3% to $54.4m.

In terms of internet gambling, revenue increased by 18.7% year-on-year to $161.4m. Online slots revenue jumped 19.0% to $159.1m, while peer-to-peer poker also edged up 1.7% to $2.4m.

Read the full story on iGB North America

June 15, 2023

Where are the next big US sports betting wins?

A few states, one of which is Texas, are on the shortlist to legalise or make significant legislative progress on sports betting this year. Just a few months ago, Missouri would’ve been considered too, but the Show-Me State didn’t show us anything except for the latest in a five-year string of sports betting failures.

Other states – Maine, Kentucky and Nebraska – are making progress in sports betting legislation. All three states are in the regulation phase, with launch dates to be determined.

Meanwhile, in the last day, Vermont and North Carolina have passed sports betting into law.

Which states, then, will join them? And what will the impact be on the big-picture US sports betting market?

Who’s on first?

North Carolina governor, Roy Cooper, signed House Bill 347 into law yesterday (14 June), following weeks of build-up. This, plus Vermont’s legalisation of sports betting puts an end to sports betting legislative journeys for two US states.

Almost every expert we spoke to also ..

June 15, 2023

Vermont governor signs sports betting bill into law

Vermont has become the latest US state to legalise sports betting after governor Phil Scott signed a bill into law.

House Bill 127 was introduced earlier this year and passed through the state’s house and senate before landing on Scott’s desk last week.

Scott, a long-term supporter of sports betting, signed off on the bill yesterday (14 June), clearing the way for the market to open next year.

“I first proposed Vermont legalise sports betting several years ago and I’m happy the legislature has come to an agreement as well,” Scott said. “We know many Vermonters already participate in the marketplace and bringing it above board provides important resources and consumer protections.

“Vermont now joins many other states who have made this move, and I want to thank Commissioner [Wendy] Knight and her team, as well as members of the legislature for their collaborative approach on this issue.”

Read the full story on iGB North America

June 14, 2023

North Carolina governor signs sports betting into law

North Carolina has legalised sports betting, after governor Roy Cooper signed House Bill 347 into law today.

The path to legalisation has been winding, with efforts ramping up in the last few months. The bill was voted through by the state House last week, after it was voted through the state Senate one week prior.

It was first introduced on 13 March. The bill in its final form was presented to the governor on 9 June.

Read the full story on iGB North America

June 14, 2023

Arizona sports betting revenue up despite handle fall in March

Consumer spending on sports betting in Arizona fell 6.7% year-on-year in March, although the state was able to report a rise in revenue.

Wagering handle for the month was $644.8m, down from $691.0m in March 2022 but 5.8% higher than $609.3m in February of this year.

Players bet $639.9m online and $4.1m at retail sportsbooks across the state.

Bettors won a total of $591.2m during March, while adjusted gross event wagering revenue before free bets was $53.4m. This was 43.6% ahead of $37.2m last year and also 57.1% more than $34.0m in February this year.

Of total revenue, $53.0m was attributed to online wagering, while the remaining $318,760 came from retail betting.

Read the full story on iGB North America

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Tag: Online sports betting