Online sports betting – Page 73

November 3, 2022

HOFV among latest to secure sports betting approval in Ohio

Hall of Fame Resort & Entertainment Company (HOFV) has become one of the latest operators to secure conditional approval for new online and retail sports betting licences in Ohio.

HOFV will operate in the state through its partnerships with Rush Street Interactive (RSI) and Betr, the new micro-betting business founded by Simplebet co-founder Joey Levy and social media personality Jake Paul.

The HOFV/Betr mobile sportsbook will allow consumers in Ohio to wager on sports online. The app will feature a new micro-betting option, whereby users can bet on a wide range of actions in a live sporting event such as pitches in baseball and shots in soccer.

The new HOFV/RSI retail sportsbook, operating as BetRivers Sportsbook, will open at the Hall of Fame Village’s Fan Engagement Zone in Canton, Ohio.

The Ohio Casino Control Commission approved both licences ahead of the state opening its legal sports wagering market on 1 January 2023.

“The legalisation of sports betting in Ohio, opens up a ..

November 3, 2022

Austrac orders SportsBet and Bet365 to conduct money laundering audits

The Australian Transaction Reports and Analysis Centre (Austrac) has ordered an audit of both Bet365 and Flutter-owned SportsBet, to determine if the operators have broken money laundering rules.

If SportsBet or Bet365 is found to be non-compliant with the rules, Austrac may then take further action, such as a court-ordered fine.

Austrac, a government body focused on money laundering, noted the action was “the result of an extensive supervisory campaign that assessed entities within the corporate bookmaker sector and follows the recent commencement of an investigation into Entain”.

The auditors will examine compliance with four areas of money laundering laws.

The first is whether the two operators adopted and maintained “an AML/CTF programme that has risk-based systems and controls in place to effectively identify, mitigate and manage money laundering and terrorism financing risks”.

They will next look at whether the operators conducted proper money laundering risk assessments.

November 2, 2022

EU ups money laundering risk from online gambling to highest level

The European Commission has raised the threat level for money laundering in online gambling to its highest possible rating, and called for lower thresholds for due diligence checks to prevent criminal activity.

The European Commission carries out periodic supra-national risk assessments, determining the risk of money laundering and terrorist financing across the European Union in various sectors. The 2022 edition is the third such risk assessment, after previous versions in 2017 and 2019.

“As with the previous reports, this third edition analyses the present ML/TF risks and proposes comprehensive action to address them,” the European Commission said. “It also assesses the degree to which the Commission’s recommendations for mitigating measures in the 2019 report have been implemented and evaluates the remaining risks.”

One area of particular focus in the report was gambling, with each gambling vertical receiving its own risk assessment.

Online gambling was found to be especially vu..

November 2, 2022

William Hill scores in-stadium betting partnership with Celtic

Bookmaker William Hill has entered an in-stadium retail betting partnership with Scottish Premiership football club Celtic.

Under the deal, William Hill will become the team’s official in-stadium betting partner and operate retail betting facilities inside the club’s Celtic Park home.

The arrangement will run for two years, with fans able to place a range of bets and also take advantage of exclusive offers and promotions on Celtic home matchdays.

“We are delighted to partner up with Celtic at their iconic home and deliver our unrivalled retail betting experience to the Celtic faithful,” William Hill’s director of media, sponsorships and UK creative, Liam McKee, said. It promises to be another exciting season at Paradise, and we are thrilled to be along for the journey.”

Celtic’s commercial director Adrian Filby added: “We are very pleased to be partnering with an industry leader in William Hill. We are certain that supporters who use this service will benefit from an enhanced stad..

November 2, 2022

BetDex launches first regulated blockchain betting exchange

The BetDex Exchange – created by FanDuel founder Nigel Eccles – has announced that it has been licensed and regulated by the Isle of Man Gambling Supervision Commission, making it the first regulated blockchain betting exchange.

The operator has received licensed approval for all kinds of online gaming, including online sports betting, under the Isle of Man Online Gambling Regulation Act.

Former FanDuel executives Varun Sudhakar, Stuart Tonner and Nigel Eccles serve as CEO, CTO and chairman of the new business, which they founded just over a year ago. Soon after founding, BetDex announced an initial investment round, raising $21m.

Varun Sudhakar, CEO and co-founder of BetDex said: “Today’s news is an exciting step forward for the BetDex Exchange. With the licensing and regulatory approval, BetDex now boasts the first fully-regulated sports betting platform in the Web3 space, and we’re excited to welcome bettors from approved regions.”

Abby Kimber, head of egaming with the Isle of M..

November 1, 2022

UK gaming tax intake rises in H1 of 2022-23, but remote duty down

UK provisional betting and gaming tax intake for the six months to 30 September has risen 11.0% from £1.46bn to £1.62bn ($1.85bn/ €1.88bn) compared to the same period the previous year.

The largest contributors to this figure is the Lottery Duty, which represents 30% of the total, and the Remote Gaming Duty which contributes 28% of the total. However, both the duties declined both in absolute terms and percentage of the total from same period the previous year.

The 2022 figures had a high degree of variability month to month, demonstrating both seasonal variation and a decreased month-to-month stability in the figures post-pandemic – as commented on by HRMC.

“Since the 2020-21 financial year, monthly receipts have been more unpredictable and, instead, receipts across each quarter are now more representative,” it said.

As a result, the figures had a large range. At the high end, almost £500m of the total was gathered in April alone – while in September, just £93m was received by th..

November 1, 2022

888’s Howard Mittman on Betting 2.0

Sports betting 1.0 was all about acquisition and, as it moves into sports betting 2.0, product is the key differentiator for sportsbook operators, according to 888 Holdings’ US president Howard Mittman. Robin Harrison hears how Mittman is developing a media-led, content-driven offering that leverages the power of the Sports Illustrated brand.

888 Holdings’ Howard Mittman sees sports betting as a “cultural phenomenon” in the US, sitting at the centre of sports, media technology and betting.

For Mittman, this makes his role at the operator, where he has served as president of US operations since April, a perfect fit.

“Throughout my career, the experiences I have enjoyed the most are ones where I found myself at interesting cross-sections,” he says. “Whether it was technology and culture, fashion and culture, or sports and culture.

Howard Mittman has served as president, US for 888 Holdings since April 2022

“This creates an interesting opportunity to have a perch and a purview tha..

October 31, 2022

Rhode Island falls just short of revenue record in September

Sports betting revenue in Rhode Island reached $6.4m (£5.6m/€6.5m) in September, the second-highest monthly total on record.

Revenue was 60.0% higher than the $4.0m recorded in September 2021 and also 113.3% up from $3.0m in August this year.

The total was also just short of the monthly record of $6.7m posted in November 2021.

Mobile betting accounted for $3.6m of all revenue during the month, with Twin River’s retail sportsbook contributing $1.6m and the Tiverton Casino posting $1.1m from its land-based sports betting facility.

In terms of player spending, handle for the month was $41.7m, up 1.2% from $41.2m in the same month last year and 50.5% ahead of $27.7m in August this year. This was helped by the start of the new NFL season, which kicked off at the start of September.

Consumers wagered $26.8m online in September, while $14.8m was spent at the two retail sportsbooks. Twin River’s facility drew $9.9m in bets and Tiverton Casino’s $4.9m.

For the state’s financial year to da..

October 31, 2022

Nigeria introduces new permit for offshore-licensed operators

Nigeria is set to introduce a new remote operator permit for offshore-licensed operators, allowing businesses to offer online gambling in Nigeria without a local presence.

Businesses will be eligible for a remote operator permit if they already hold a licence in another jurisdiction and wish to offer their services to Nigerian players.

It will allow operators to offer casino games, bingo, slots, sports betting and poker.

The permit will be valid for five years. Operators will pay an initial $100,000 to receive the permit, followed by fees of $50,000 in each of the next four years.

The Nigerian National Lottery Regulatory Commission will issue terms and conditions which permit-holders must adhere to.

Holders of the new permit will be allowed to offer their services in Nigeria and to advertise within the country in print media or via affiliate programmes.

Key to the new regime will be an updated tax collection system, powered by UK-based fintech company E-Technologies Global Limite..

October 28, 2022

World Cup could be make-or-break for industry marketing

iGB op-ed: Many will be paying close attention to how the industry markets its products during the 2022 Fifa World Cup. Daniel O’Boyle writes that the industry’s actions during the tournament may be the difference between fuel for a further crackdown or a chance to change the tide of the debate on gambling.

Yesterday, France announced a series of new rules and recommendations on bonuses. The contents of the regulations published by regulator l’Autorité Nationale des Jeux (ANJ) are interesting for sure, but there may be more to think about beyond that.

The new rules on transparency are good, and other markets would largely benefit from requiring operators to make the terms surrounding bonuses as clear as possible.

Other rules, particularly the ban on sending bonuses to “excessive” gamblers, are clearly well-meaning but likely too vague to be implemented in the way that is hoped.

The non-binding “recommendations”, meanwhile, are hard to judge without knowing how motivated operators..

October 27, 2022

Kindred still committed to US, but won’t break even until at least 2026

Kindred chief executive Henrik Tjärnström said the operator does not expect to break even in the US states where it is currently active until 2026, but that it would nonetheless remain committed to the market.

During an earnings call following Kindred’s Q3 results, Tjärnström offered an update on Kindred’s performance in the US market. Here, he said the business hoped to break even by 2026.

“We are now live in seven states,” he said. “We’re going to reduce that to six when we leave Iowa and then increase it again to seven with Washington.

“We have been in an investment position across our state footprint and it will take some time, a few years to achieve profitability.

“We’re expecting the contribution from 2022 to be negative from 2021, but then in 2023 we’re reducing those losses and by 2026 we’ll be breakeven across our current state footprint.”

Last week, FuboTV became one of the highest-profile operators to exit the US market, highlighting the difficulty in turning a profit ..

October 27, 2022

Kindred set for strong Q4 as Netherlands “exceeds expectations” in Q3

Kindred said it is “exceeding expectations” in the Netherlands and expects rapid revenue growth in the final months of the year, after reporting its first quarter of revenue since reentering the market.

In Q3 of 2021, Kindred reported revenue of £277.8m, which was down by 6.9% year-on-year. Almost all of this revenue came from B2C operations, at £271.9m, while B2B revenue – from Relax Gaming – was £5.9m.

The decline in revenue continued to be down to the operator withdrawing from the Netherlands at the start of Q4 2021. While the operator returned to the country during the quarter, generating revenue again, the amount Kindred took in was less than before the country regulated, as was expected.

Kindred said it was “exceeding expectations” with 137,000 active Dutch customers, and brought in around £400,000 per day since launching on 11 July. Chief executive Henrik Tjärnström added that the business had around a 15% market share in the country.

“Thanks to our strong brand awareness, u..

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Tag: Online sports betting