Online sports betting – Page 94

July 6, 2022

Playmaker Capital acquires World Soccer Talk

Affiliate business Playmaker Capital has acquired US-based soccer media company World Soccer Talk.

Playmaker announced the news in a press release in which it focused on the rising popularity of soccer in North America, emphasising its place as the now the fourth most popular sport in the country after American football, basketball, and baseball.

Playmaker CEO Jordan Gnat commented on the deal: “Soccer is on the rise in the US and Canada, and Playmaker is focused on becoming the preeminent voice for the sport across the Americas, from the top of Canada to the bottom of Argentina.”

“World Soccer Talk founder, Christopher Harris, exudes a true passion for sport that’s shared by the entire Playmaker team, and we’re excited to welcome him and World Soccer Talk into our family and our ecosystem as a core piece of a broader soccer strategy in advance of World Cups 2022, 2023 and 2026.”

World Soccer Talk web, social media and podcast assets will join Playmaker’s existing portfolio of digi..

July 5, 2022

VBet partners with OGC Nice

BetConstruct-operated sports betting and gaming brand VBet has announced a new sponsorship deal with French football club OGC Nice.

The club will be the latest French football team to make a deal with operator, following the announcement of similar deals with AS Monaco in 2020 and Paris FC the previous March. VBet branding will feature on the club’s shorts through to 2025, as well as prominently on its digital platforms.

In return, VBet will broadcast exclusive content for its partner as well as organise events and competitions to win match tickets – in addition to offering other digital content throughout the season.

VBet France president David Ozararat commented on the deal: “Aside from the symbolism of teaming up with the city where I was born and grew up, I’m very happy VBet is becoming one of the official partners of OGC Nice alongside its shareholder INEOS. Today, the club’s potential is at the highest possible level and the ambitions of its president are aligned with our bus..

July 5, 2022

Romanian government publishes plan for 40% tax on withdrawals

The Romanian government has published the country’s new draft Fiscal Code, featuring a tax hike on gambling withdrawals to as much as 40%.

The new code was published by the Ministry of Finance, and contains updates to the country’s tax laws.

Previously, gambling withdrawals in Romania of less than RON66,750 (£11,579/€13,493/$13,980) were taxed at 1%, while withdrawals of up to RON445,000 faced a 16% tax – plus an additional payment of RON667.50 and withdrawals beyond that total were taxed at 25%.

However, now withdrawals of up to RON3,000 will be taxed at 10%. Withdrawals of more than RON3,000 but no more than RON10,000 are taxed at 20%, plus a RON3000 fee. Beyond RON10,000, the tax rate will be 40%, plus a RON1,700 fee.

The tax will be applied with each withdrawal.

When the tax hike was first reported, trade body the Association of Remote Gambling Organisations (AOJND) said that it would push players towards illegal operators.

It estimated that – if the tax comes into effect – ..

July 4, 2022

Rhode Island sports betting revenue slips to $2.3m in May

Revenue from sports betting in Rhode Island slipped to a year-low of $2.3m (£1.9m/€2.2m) in May, though the state’s handle was up month-on-month.

Player spending for the month reached $41.1m, up 45.2% from $28.3m in May of 2021 and also 2.2% higher than $40.2m in April this year.

Of this total, $25.3m was spent online, while the other $15.8m was bet at retail sportsbooks at the Twin River and Tiverton Casino locations.

Revenue was down 14.8% year-on-year from $2.7m in May last year and 11.5% lower than $2.6m in April of this year. The monthly figure was also the lowest total since $1.2m was posted in December 2021.

Some $1.9m of total revenue was attributed to online betting, with the remaining $461,059 being retail revenue split across Twin River and Tiverton Casino.

Of the two casinos, Tiverton Casino came out on top with $404,515 in revenue from $5.3m in player bets, ahead of Twin River with just $56,544 in revenue, but almost double the size handle of $10.5m.

Last week, it wa..

July 4, 2022

Bally’s approved to launch BallyBet in Ontario

Bally’s has been approved for an internet gaming licence from the Alcohol and Gaming Commission of Ontario (AGCO).

The licence was approved on 30 June and will last for two years, expiring on 29 June 2024.

It covers fourdomain names – ballybet.ca, ballycasino.ca, ballysbet.ca and ballyscasino.ca, as well as the BallyBet mobile app.

Bally’s is one of the most recent operators to receive a licence to operate in the province, joining the likes of PokerStars, SkillOnNet and BetVictor.

Ontario’s regulated igaming market launched in April three years after Ontario announced plans to end the lottery’s online gambling monopoly on the province.

Operators such as theScore, PointsBet and Bet365 were approved for licences before the market opened.

July 4, 2022

SBM sells Betclic stake to FL Entertainment ahead of SPAC deal

Monte-Carlo SBM International S.à.rl (SBM) has transferred its entire 47.3% stake in French online gambling business Betclic Everest to newly created media and betting business FL Entertainment, as FL prepares to go public.

The news follows a press release on 11 May announcing the creation of the new entity, FL Entertainment, as part of a special-purpose acquisition company (SPAC) merger.

FL Entertainment will itself soon combine with Pegasus Entrepreneurial Acquisition Company Europe, which is already listed on Euronext Amsterdam.

FL will be made up of Betclic Everest and television production company Banijay, which will make up the majority of the business by revenue.

The new company is predicted to have an enterprise value of €7.2bn (£6.2bn/$7.5bn), as well as generate revenue of €3.5bn and adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of €609m.

SBM will have an interest in new company, holding 4.95% of the voting rights and 10.39% of the effect..

July 4, 2022

Colorado sports betting handle slips to year-low $360.3m in May

Consumers in Colorado wagered $360.3m (£297.8m/€345.4m) on sports during May, the lowest monthly total of the calendar year so far.

Player spending was 44.7% higher than $249.0m in May of last year, but 8.2% down from $392.3m in April this year.

Bettors wagered a total of $356.8m on sports online during May, while the remaining $3.5m was spent at retail sportsbook facilities across the state.

Turning to gross gaming revenue and this amounted to $27.1m for May, up 78.3% from $15.2m in the same month in 2021 and also 19.9% higher than $22.6 in April this year.

Some $26.7m of this total was attributed to online betting, with just $267,458 coming from retail sportsbooks.

Basketball proved to be the most popular sport among players, drawing $102.0m in total bets, followed by baseball on $91.0m, ice hockey at $35.7m and tennis with $20.3m. Consumers also wagered $63.1m in parlay betting during the month.

The state collected $1.7m in sports betting taxes during the month, while win perc..

July 1, 2022

Giving betting a voice

Betting is becoming easier than ever as the industry aligns itself with technological breakthroughs. One of the most recent of these is speech technology, which allows machines to recognise spoken word and perform related commands. This has been widely integrated, with devices like Amazon’s virtual assistant Alexa being a staple in many homes.

Technology company Voxbet seeks to bring automation into the sports betting world, giving bettors the opportunity to speak a bet or tip into existence. Its technology also allows bettors to type their bet for further accessibility.

Jonathan Power, CEO and founder of Voxbet, speaks about what the company offers and how voice technology creates a unique betting experience.

What does Voxbet offer that other providers don’t? How do these elements offer like a unique experience for players?

We’re a technology provider that simplifies the navigation of a sportsbook. So if you think about how you navigate anything else online, like Amazon or eBay, ..

July 1, 2022

888 completes £1.95bn acquisition of William Hill assets

Online operator 888 has completed its acquisition of William Hill’s non-US assets from Caesars for £1.95bn (€2.25bn/$2.35bn), and has announced the group’s new leadership team.

888 had initially agreed in September 2021 to acquire the non-US business of William Hill. This came soon after US operator Caesars acquired the entire William Hill business for approximately £2.90bn, with the intent to dispose of all but its US assets.

Originally, the purchase price for the deal was £2.2bn. However, 888 and Caesars agreed to reduce the purchase price to acquire the assets by £250m, with the cash portion of the deal now set at £584.9m instead of £834.9m.

This, it said, was due to a “change in the macro-economic and regulatory environment”, but at the time it also revealed that the William Hill business’ licence to operate in Great Britain was under review.

After receiving shareholder approval last month, the deal has now closed today.

“I am delighted to announce the completion of our trans..

June 30, 2022

NFL hires first sports betting executive

The NFL, the most popular sports league in the US, has hired David Highhill as vice president, general manager of sports betting; the first executive the league has had dedicated to sports betting.

Highhill will lead the league’s efforts to reduce the effects of gambling-related harm, advance the value of the NFL’s brand and reputation, support fan engagement, as well as improve the value of the NFL’s data and intellectual property.

He has been with the NFL for 10 years, and will move from the corporate strategy group, where he previously led the league’s analytics department.

The NFL already has a number of sports betting partnership agreements, most recently with 888sport, which will be the league’s official sports betting partner in both the UK and Ireland until 2025.

In the US, FOX Bet, BetMGM, PointsBet, and WynnBET were announced as official partners last year, alongside Caesars, FanDuel and DraftKings.

June 30, 2022

US representatives call on DoJ to shut down Bovada, MyBookie and BetOnline

A total of 28 US representatives have signed a letter to Attorney General Merrick Garland and the Department of Justice, calling for a crackdown on offshore operators, particularly Bovada, MyBookie and BetOnline.

The effort was led by Dina Titus and Guy Reschenthaler, co-chairs of the Congressional Gaming Caucus, and was signed by 26 other representatives.

The letter described offshore sportsbooks as “predatory operations” that “expose our constituents to financial and cyber vulnerabilities; do not have protocols to address money laundering, sports integrity, or age restrictions; and undermine states’ efforts to capture much needed tax revenue through legal sports betting channels”.

The letter called out three well-known offshore operators by name, saying that sites including Bovada, MyBookie and BetOnline “have developed sophisticated platforms that are nearly indistinguishable from those of legal providers”.

These sites – it also noted – are “frequently cited in reputable sports ..

June 29, 2022

Online gambling proposal confirmed for California’s November ballot

A measure to permit online gambling in California – backed by a number of commercial operators but opposed by many tribes in the state – has been confirmed for November’s ballot.

The Secretary of State in the US’s most populous state announced on Monday that the proposed law, which is backed by major gaming groups such as BetMGM, has attracted around 1.1 million valid signatures – well above the 997,000 required to make the ballot.

The confirmation it has qualified for the ballot was met with opposition from tribal gaming groups, whose own Tribal Sports Wagering Act initiative that would legalise sports betting at limited locations, including tribal casinos, has already been accepted for November’s poll.

Tribal chairman Cody Martinez, of the Sycuan Band of the Kumeyaay Nation, said: “We will run a vigorous campaign against this measure and are confident the voters will see through the deceptive promises being made by these out-of-state gambling corporations.”

For the full article, ..

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Tag: Online sports betting