Online sports betting – Page 74

October 26, 2022

World Series of Politics: Bill Miller of the American Gaming Association

The World Series of Politics welcomes Bill Miller of the American Gaming Association as first guest.

AGA CEO Miller joins Brendan Bussmann and Brandt Iden to look back on this year’s Global Gaming Expo.

American Gaming Association, G2E and illegal gambling

Miller discusses this year’s Global Gaming Expo after almost 25,000 visitors descended on the Sands Convention Centre earlier in October. He also talks about the US gaming industry’s post-Covid recovery and the threat of the illegal market.

Read his interview, published earlier this week, with iGB for more from the AGA.

Maryland sports betting

This episode also features Maryland, where lawmakers have taken a step towards launching mobile sports betting after a fraught process. There’s a wager on the line between our hosts on this one, just to up the stakes further.

Brendan also discusses the state of play for Macau casinos, where recovery has been hindered by China’s zero Covid policy.

And there’s even more intrigue aroun..

October 26, 2022

Ontario report

iGB’s new report on Ontario offers exclusive insight into Canada’s most populous province – the first to regulate betting and igaming.

When the Ontario market opened in April this year, it wasn’t quite brand new ground.

Anyone in the industry could tell you that the grey market in Canada’s largest province had been thriving for quite some time.

Still, bringing the province from grey to white offers certainty and new opportunities for many.

Six months on, we have a sense of the spoils available. Operators – excluding the lottery – brought in a combined CA$267m in the three months ended 30 September.

The biggest challenge in the province, however, may be marketing rules. Operators can offer bonuses, but may not promote them. As Marese O’Hagan writes in our progress report, that’s been difficult, but it hasn’t seriously dampened excitement about the jurisdiction.

And for now, those complying with the rules still need to compete with some unlicensed brands, which continue to do busin..

October 26, 2022

Saskatchewan to launch legal online gambling on 3 November

The Saskatchewan Indian Gaming Authority (SIGA) will launch its new online gambling and sports betting website on 3 November, marking the launch of legal igaming in the Canadian province.

PlayNow.com will be operated by the Saskatchewan Gaming Corporation (SaskGaming) as the only legal igaming website in Saskatchewan, offering licensed gambling to players on an exclusive basis.

This is in line with an arrangement announced last September, which was agreed by the Federation of Sovereign Indigenous Nations (FSIN) and the provincial government.

The PlayNow.com platform will be delivered by the British Columbia Lottery Corporation (BCLC) and based on a website of the same name that is operated by the BCLC in British Columbia.

Saskatchewan will become only the third province in which PlayNow.com is active, after its initial launch in British Columbia and also in Manitoba.

To support the launch, PlayNow.com has agreed a sponsorship deal with local Canadian Football League team the Saska..

October 25, 2022

Bet365 to launch new products through expanded Genius deal

Genius Sports has signed a long-term extension to its official data partnership with online gambling operator Bet365, allowing the operator to launch new products powered by data from Genius-owned Second Spectrum.

Under the deal, Genius Sports will provide Bet365 with its exclusive portfolio of official data rights to a range of leading sporting events such as football’s English Premier League, the National Football League (NFL) and Nascar.

In addition, as the official data partner to the Mid-American Conference, Genius will provide Bet365 with the only official data feed for betting on National Collegiate Athletic Association (NCAA) sports.

The deal will also cover a new range of betting products powered by AI-driven tracking technology from Second Spectrum.

“Expanding our partnership with Bet365, the largest sports betting brand in the world, demonstrates our commitment to delivering the most innovative and compelling products for our customers,” Genius Sports chief executive Ma..

October 25, 2022

NH sports betting revenue reaches nine-month high in September

Sports betting revenue in New Hampshire increased to a nine-month high in September, while the US state also posted year-on-year growth across revenue and handle.

Total gross gaming revenue for September amounted to $7.4m (£.5m/€7.5m), up by 68.2% year-on-year from $4.4m in the same month last year and 76.2% more than $4.2m in August this year. It was also the highest monthly amount since $8.0m was generated in January 2022.

Online sports betting was responsible for $7.7m in revenue for the month, but a $374,088 loss from retail sportsbooks pushed the figure down to $7.4m.

In terms of player spending, handle for the month stood at $78.2m, up 14.8% from $68.1m in September 2021 and also 80.2% higher than $43.4m in August this year.

Consumers wagered a total of $58.5m online during the month, while the remaining $19.8m was spent betting at retail sportsbooks across the state.

Tax generated from sports wagering in September reached $3.2m, with $3.5m coming from online, while retail’s..

October 25, 2022

Turnover up but gross win down for PointsBet in Q1 2023

PointsBet’s turnover in the first quarter of 2023 rose by 18.0% year-on-year to AU$1.15bn (£1.02bn/€1.17bn), yet its gross win was down by AUS$2.0m.

The results came as the business also revealed a change in US strategy to focus less on casual customers and more on high-volume bettors.

In total, AU$523.8m of the turnover came from US operations. Australia made up AU$611.9m of the turnover, while Canada contributed AU$20.9m.

Gross win, meanwhile, was AU$115.1m, down by 1.7% from AU$117.1m in Q1 2022.

Gross win in the US was AU$40.5m, while in Australia it was AU$73.0m. Canada contributed AU$1.6m to the gross win, after PointsBet launched in Ontario in April of this year.

The total revenue for the quarter – made up of B2B and B2C operations – was AUS$81.5m.

In terms of costs, advertising and marketing made up the highest expense at AUS$54.7m.

However, Aitken said that PointsBet had reduced marketing spend significantly in the first quarter.

“This year we took a measured approach ..

October 25, 2022

Golden Matrix to launch online casino site in Mexico

Virtual sports and gaming provider Golden Matrix is to launch a new, proprietary B2C online casino in Mexico on 1 November.

Mexplay will feature a range of online slots, table games and a sportsbook, allowing users to place bets on a wide range of sports and events.

The licensed site will also have tournament competition prizes similar to those offered by the provider’s RKings subsidiary in Great Britain. Mexplay content will be available in both Spanish and English.

Golden Matrix chief executive Brian Goodman said the Mexico launch marks the latest stage of its ongoing expansion strategy in Latin America, with plans to also enter other regulated markets across the region.

“This represents the next major step by our company to expand its B2C footprint,” Goodman said. “The recently acquired B2C operations of RKings now account for over 50% of our revenues and over 50% of our profits; similarly, we now expect important contributions to revenue and profit growth from our operations in..

October 25, 2022

American Gaming Association CEO on the rebirth and renewal of US gambling

Bill Miller could argue that his tenure has seen the most transformative period for the gaming industry since the American Gaming Association was established in 1995. He talks to Robin Harrison about sports betting, gaming expansion, Covid-19, safer gambling and the illegal market in this exclusive interview.

When Bill Miller took charge of the American Gaming Association (AGA) in January 2019, the US commercial gaming industry was poised for a period of explosive growth.

Legal sports betting, thanks to the repeal of the Professional and Amateur Sports Protection Act (PASPA), was rapidly spreading across the US.

The industry as a whole posted its fifth consecutive year of revenue growth for that year, with 2019’s total breaking records at $43.6bn.

The industry generated $10.2bn in gaming taxes for state and local governments with 21 of 25 commercial gaming states posting year-on-year revenue growth. This sum covers annual education costs for 832,000 elementary and secondary scho..

October 24, 2022

Arizona sports betting handle reaches $361.0m in August

Player spending on sports betting in Arizona jumped 24.3% month-on-month to $361.0m (£319.3m/€367.6m) in August, while revenue in the state also increased.

Sports wagering handle was ahead of $290.5m in July and also represented the second consecutive month of growth in the state. Some $359.2m was wagered online, with just $1.5m spent at retail sportsbooks.

Players won $323.8m from sports betting in August, leaving $36.3m in revenue for the month, up 65.0% from $22.0m in July.

After accounting for $8.5m in free bets and promotional credits, taxable revenue for the month was $27.8m, an increase of 85.3% from $27.8m in the previous month.

DraftKings led the market in terms of handle, processing $129.8m in bets, all of which were placed online. FanDuel was second with $109.7m in total bets, split $108.7m online and $1.0m at retail locations, then BetMGM on $58.2m in online wagers.

Turning to gross revenue and FanDuel narrowly claimed top spot with $11.7m. DraftKings was second with $..

October 24, 2022

Online slots boost German gambling tax revenue to €596.1m in Q3

German gambling tax revenue came to €596.1m in the third quarter of 2022, a year-on-year increase driven mostly by growth of online slots.

The total German gambling tax take was up by 15.5% year-on-year.

Of this total, €123.2m came from online slots. This was up drastically from Q3 of 2021, when operators paid only €32.7m in taxes during the first quarter under Germany’s new Fourth State Treaty on Gambling.

As part of the new regime, online slot operators must pay 5.3% of stakes in taxes, which has been a major source of controversy.

Only a small number of operators were licensed to offer online slots in Germany in Q3, but a transition period is in place which means that operators will not face enforcement action as long as they keep to the rules of the State Treaty and pay gambling taxes.

Online poker tax income was €8.0m, slightly more than double the total from a year earlier. Like slots, online poker is also subject to a 5.3% tax on stakes, and – with no licensees yet – the en..

October 21, 2022

A natural evolution for player props

It makes sense that increased availability of player prop bets and integration of insights into betting would converge. Daniel O’Boyle speaks to Henry Newman, CEO of Sporting Risk, about his business’ combined pricing and facts tool for player props.

Two rising forces in sports betting lately have been – in terms of purely trading and markets – an effort to include more player proposition bets and, from a more user-experience-led perspective, a greater effort to integrate insights into the product.

So it only makes sense that these two products would converge.

Henry Newman, CEO, Sporting Risk

Still, it may be surprising to see who has brought a product combining player prop trading and facts for consumers to market first. It wasn’t from one of the data giants or a widely known sportsbook provider, though it was from a group that has made its living from bookmakers for some time.

Henry Newman, chief executive of Sporting Risk, notes that his company’s history in running a successfu..

October 20, 2022

Oregon reveals further sports betting growth in September

Sports betting revenue and handle in Oregon both increased year-on-year in September, while the US state also reported month-on-month growth across the market.

Player spending for the month amounted to $39.3m (£34.9m/€40.0m), up 57.2% from $25.0m in September 2021 and also 39.4% higher than the $28.2 wagered by consumers in August of this year.

Gross gaming revenue for the month reached $5.5m, an increase of 358.3% on last year and more than double the $2.7m generated in August.

Almost all revenue came from DraftKings, with just $163 generated by Scoreboard. The Oregon Lottery’s Scoreboard online sportsbook has been phased out and replaced by DraftKings, but still pays out on bets placed before this process began.

Football overtook baseball to become the most popular sport among consumers in Oregon, attracting $14.8m in wagers and producing $3.3m in revenue.

Baseball slipped to second with a $11.2m handle and $1.1m in revenue, then soccer with $4.6m in bets and $300,293 in revenue..

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Tag: Online sports betting