Online sports betting – Page 75

January 12, 2023

Tipico extends US presence with Iowa launch

Online gambling operator Tipico has further extended its reach in the US by rolling out its sports betting offering in Iowa.

After securing approval from the Iowa Racing and Gaming Commission, Tipico launched in the state via its Tipico USA Technology business and is now accepting online wagers from Iowa consumers.

The launch means Tipico is live in four states across the US, with the operator having also gone live in New Jersey, Colorado and, more recently, Ohio after the state opened its legal online sports betting market earlier this month.

Read the full story on iGB North America.

January 11, 2023

Virginia bill introduced capping tax deductions for bonuses

A bill has been introduced in the Virginia Senate limiting tax deductions for bonuses and promotions.

Senate Bill 1142 – introduced by Democratic state senator Jeremy McPike – would amend the existing code of Virginia definition of adjusted gross revenue. Under current law, “adjusted gross revenue” means gross revenue minus four specified deductions.

The proposed amendment would change the first deduction which allows for allows for operators to deduct all bonuses and promotions from gross revenue. It would seek to impose a cap on the amount that can be claimed beginning at 2.5% of the total wagered by the player in 2023-24, lowering to 1.75% by 2026.

This would have the effect of potentially raising the tax burden on sports betting operators in Virginia, since it is adjusted gross revenue, not gross revenue which is subject to the state’s 15% gaming tax.

Read the full story on iGB North America

January 11, 2023

Number of players on Malta-licensed sites hits record high in H1 2022

The number of players gambling with Malta-licensed operators hit a new high in the first half of 2022, after declines in the previous year.

The number of active player accounts with Malta-licensed operators rose by 8.7% year-on-year after a decline in 2021, to 19.3 million. This exceeded the previous high of 19.0 million recorded in the last six months of 2020.

The rise was mostly due to a record 8.9 million new accounts being created.

Much of the rise was due to higher numbers of younger players, with the portion of players aged between 18 and 24 rising to almost 25% of the total player base. In addition, the Malta gaming sector was found to have contributed €573m in gross value added for the half-year, or 8.0% of the Maltese economy. The gross value added total was up 12.4% from the first half of 2021.

The sector also employed 10,861 people as of June 2022, almost 600 more than a year earlier.

“The resilience of the Malta gaming industry during these trying times is largely att..

January 10, 2023

Bet365 to enter Pennsylvania with CDI deal

Bet365 is set to expand into Pennsylvania, having entered an online sports betting and igaming market access deal with Churchill Downs Incorporated (CDI) subsidiary Presque Isle Downs & Casino.

The agreement, CDI said, is consistent with its strategy to exit the online sports and casino business, with the operator seeking to monetise its online sports and igaming market access rights and focus on growing the TwinSpires online horse racing wagering business.

CDI revealed in February last year that it was to switch its approach to operations in the online casino sector but would retain retail sportsbook operations in its casinos.

Read the full story on iGB North America

January 9, 2023

Kambi and Rush Street Interactive extend sports betting deal

Kambi Group has signed an extension to its North America-facing partnership with online sports betting and casino operator and Rush Street Interactive (RSI).

Under the deal, Kambi will continue to provide its sportsbook engine to RSI in 15 states across the US, as well as in Canada, Colombia and Mexico.

Kambi initially partnered with RSI in 2018 following the repeal of the Professional and Amateur Sports Protection Act (PASPA) in the US and has supported the operator with its expansion across a range of markets.

Read the full story on iGB North America

January 9, 2023

Blaze and Parimatch score Brazilian football sponsorship deals

Blaze and Parimatch have agreed to sponsorships with Brazilian football clubs Atlético Clube Goianiense and Botafogo, after the collapse of efforts to introduce a locally regulated sports betting market in the country.

Campeonato Brasileiro Série B side, Atlético Clube Goianiense, announced the sponsorship with Blaze, a sportsbook online provider. Blaze will feature on the club’s kits as the main sponsor.

The length of the deal is currently undisclosed.

Meanwhile, Campeonato Brasileiro Série A team Botafogo agreed a two-year deal for online sports provider Parimatch to become its main shirt sponsor.

Nick van Gorsel, director of operations at Blaze, said that the company is proud to be the new sponsor of Atlético Clube Goianiense.

“The club has a passionate and loyal fan base that will complement our growth. It is a great honour for everyone at Blaze to be part of the ACG family and we will do our part in supporting the club.”

Adson Batista, president of the club, added that the c..

January 9, 2023

Iowa sports betting revenue bounces back in December despite handle drop

Sports betting revenue in Iowa rocketed 251.7% month-on-month in December despite a decline in player spending, while the state also reported year-on-year declines in handle.

Revenue for the month reached $20.4m (£16.8m/€19.1m), which was 52.2% up from $13.4m in December of 2021. This was also comfortably higher than $5.8m in November 2022 when Iowa suffered a sharp decline following multi-million-dollar winning bet payouts to US businessman Jim “Mattress Mack” McIngvale.

Figures published by the Iowa Racing and Gaming Commission (IRGC) showed that of total revenue posted in December, $17.6m came from online sports betting, while a further $3.1m was attributed to retail sportsbook activity.

Read the full story on iGB North America

January 9, 2023

New York sports betting handle hits nine-month high in December

Consumer spending on mobile sports betting in New York reached its highest total in nine months during December, although revenue fell month-on-month.

The state’s handle for December was $1.62bn (£1.34bn/€1.52bn), up 3.9% from $1.56bn in November and the third-highest monthly amount since the state launched its legal online betting market in January 2022.

However, gross gaming revenue from sports wagering fell for the first time in five months, with the December total reaching $141.8m, down 4.34% from the record $148.2m reported in November.

Read the full story on iGB North America

January 6, 2023

Ohio fines BetMGM, Caesars, DraftKings $150k for ad violations

The Ohio Casino Control Commission (OCCC) announced it is seeking a $150,000 (£126,000/€143,000) fine each from BetMGM, Caesars and DraftKings for advertising violations.

According to the regulator, the three operators, or their affiliates, all ran sports betting ads on multiple platforms that were in violation of both Ohio law and administrative rules relating to advertising and promotions.

“The sports gaming industry has received multiple reminders of the rules and standards for advertising and promotions, yet continues to disregard Ohio law,” said OCCC executive director Matthew Schuler. “These repeated violations leave the Commission no choice but to pursue administrative action to bring operators into compliance. The Commission takes responsible gambling seriously – and expects the industry to value the same.”

Read the full story on iGB North America

January 6, 2023

Kentucky bill for online betting, poker and fantasy introduced

A bill that would permit online sports, poker and paid fantasy competitions in Kentucky has been introduced in the State House in the current legislative session.

House Bill 106 was introduced on 5 January 2023 and sponsored by representatives Derrick Graham, Cherlynn Stevenson and Rachel Roberts.

If passed, the bill would add 26 amendments to the current law and enact 13 new sections related to online sports, poker and fantasy gambling.

The bill would enable sports betting to be provided by online operators as well as allowing racing tracks to partner with online brands.

A licensed track can only partner up with one online operator, which can provide systems for gambling both on track and online.

Tracks may also offer sportsbooks at two separate locations that it owns or leases within 60 miles of the racing grounds that are not attached to the land of the track.

Sports that would be allowed to be gambled on include the NFL, NBA, MLB, PGA, NASCAR, MLS, NCAA, NAIA and other nation..

January 6, 2023

Rhode Island betting handle reaches year-high in November

Players in Rhode Island wagered $61.2m (£51.7m/€58.3m) on sports during November, the highest monthly total of the 2022 calendar year

The figure was 16.1% higher than $52.7m in November of 2021 and up 10.3% from $55.5m in October 2022, as well as surpassing the previous year-high of $58.6m in January 2022.

Some $37.0m was spent betting online in November, while retail sportsbooks across Twin River and Tiverton Casino processed a total of $24.2m. Twin River took $17.0m in bets and Tiverton Casino $7.2m.

Read the full story on iGB North America

January 6, 2023

DC betting revenue and handle down month-on-month in November

Sports betting revenue and handle in Washington DC fell month-on-month in November, as both the commercial sector and DC Lottery also reported a year-on-year decline in revenue.

Player spending in November amounted to $21.4m (£18.1m/€20.4m), which was level with the amount bet in November 2021 but 13.7% lower than $24.8m in October of 2022.

Gross gaming revenue was down 40.9% from $4.4m in November 2021, which at the time was a record for the DC market, while this figure was also 16.1% behind the $3.1m that was generated in October 2022.

Read the full story on iGB North America

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Tag: Online sports betting