Product & technology

September 11, 2024

Caesars betting kiosks to replace GambetDC’s in US capital

When the DC Council in June approved a budget that included opening the Washington, DC sports betting market to competition, there was one question mark. What would happen to the small businesses – mostly convenience stores – that have GambetDC kiosks?
That question was answered on Tuesday (10 September) when Caesars Entertainment announced that it will replace GambetDC betting kiosks at 53 small businesses in the District. The company did not share when the new kiosks would be put into place.

On Monday (9 September) Caesars got the go-ahead to replace GambetDC through an Office of Lottery and Gaming executive order.

From May 2020-July 2024, DC had a single-source digital sports betting market. The DC Council in 2019 agreed to give Intralot, its lottery operator, the sports betting contract. There was no bid process and, when Intralot rolled out GambetDC, problems with the platform were almost instantly apparent.

Among the complaints were a difficult customer interface, non-comp..

September 10, 2024

Waterhouse VC: Why betting can’t survive without sports data

In his latest column, Tom Waterhouse of Waterhouse VC considers the role of sports data and data providers in revolutionising sports betting.
Eighteen years ago, mathematician Clive Humby coined the phrase “data is the new oil”, underscoring the vital role data would play in driving business and innovation. If not as scarce, high-quality data is just as valuable for sports and wagering.

Access depends on securing rights, with rising costs creating natural barriers to entry. AI and machine learning is now being applied to premium sports data to unlock new opportunities for fan engagement, especially in the wagering industry.

Data hasn’t always been as central to sport and wagering as it is today. Before televisions, attending a sporting event was the only way of knowing what really happened. Radio helped, but listeners were still reliant on the commentator’s account. In betting shops, trying to gauge how your bet was faring over shouting and excitement would have been a real challeng..

August 30, 2024

International markets helping to drive growth for BetMakers in FY2024

BetMakers recorded revenue of AU$95.2m (£49.1m/€58.4m/$64.7m) for its 2024 financial year, with its international presence credited as driving growth.
The figure marked a minor increase of AU$200,000 for BetMakers compared to 2023, while a focus on costs helped slash the supplier’s adjusted EBITDA loss for the 12 months ended 30 June 2024.

Its Global Tote division, which has a presence in more than 35 countries, drew in the majority of the revenue. It delivered AU$54.8m, representing 58% of total revenue – a 3% year-on-year increase.

In FY2024, BetMakers entered into or renewed contracts with 29 operators around the world. International customers are a growth focus while its domestic platforms and the loss of its contract with Betr held it back, it explained.

During the year it signed a two-year market access and content agreement with Bet365 to distribute horseracing content to customers in New Jersey and Colorado in the United States. Caesars Entertainment has launched BetMakers’ ..

August 26, 2024

Weekend Report: Addabbo sounds off about NYC casino process, DraftKings stymied in court, Aristocrat’s new UK deal

Welcome to the Weekend Report, where iGB covers the news that you may have missed over Friday, Saturday and Sunday. This week, we look at an FBI arrest in DC, as well as a California bill that would allow tribes to sue cardrooms.
Frustration continues over NYC casino bid process
New York Senator Joe Addabbo continues to push for and vent his frustration about the status of three downstate NYC casino licences. Per Action Network, Addabbo was vocal during the Racing and Gaming Conference at Saratoga, NY earlier this month.

“Why not codify the timelines? Why not give definitive answers to why we’re not doing this on a timely basis when we did three licences upstate in a fraction of time?” Addabbo asked during a conference panel. “Because we’ll have this same panel here five years from now.”

At issue is the timing of awarding three casino licences. Eleven entities are bidding for the licences, which are currently scheduled to be awarded in the middle of 2025. Casinos would be able to op..

August 20, 2024

Revamped product and customer personalisation key to Evoke growth plans

Evoke plc is banking on automation and AI as it embarks on a “total transformation” of the business, says chief executive Per Widerström following disappointing first half results.
Following a profit warning in July, Evoke reported a 2% decline revenue to £862m last week, with adjusted EBITDA falling 26% year-on-year.

“We understand exactly what went wrong and we have taken corrective actions to address the problems,” Per Widerström says of evoke’s h1 results
Widerström did not shy away from acknowledging the operator’s underperformance on Evoke’s H1 earnings call. “[These] results are disappointing and are not acceptable. We understand exactly what went wrong and we have taken corrective actions to address the problems.”

He outlined a range of product improvements, changes to customer lifecycle management and new ways of communicating the overall value proposition for customers in particular.

Product underpins growth plans for Evoke
The product proposition is enhanced by a revamp..

August 8, 2024

Penn CEO Snowden: “Don’t believe everything you read” on M&A, points to late August NY launch

Penn Entertainment CEO Jay Snowden refused to comment on speculation of competitors teaming up to acquire the operator during Thursday's quarterly earnings call. Instead, he talked up deeper and deeper integrations with partner ESPN.
On Thursday’s (8 August) earnings call, Snowden said the company will be live in the biggest legal market in the US – New York – by the start of the college football season. He also addressed the controversial winners’ surcharge that DraftKings is floating. But his main focus was acquisition rumours.

The ESPN Bet launch last November brought the premier sports media brand into the betting sector. Snowden said it was a milestone moment. But it hasn’t yet translated into a podium position for Penn Entertainment.

Blended market share across six states averaged 6% for March, and investors have started to question Penn’s digital strategy. This led to rumours of a sale, suggesting Boyd Gaming would bite. Those rumours evolved into a joint approach with ..

August 2, 2024

Bettors, analysts say “no thanks” to DraftKings’ surcharge idea

US sports betting operators have long been grappling with ways to navigate increasingly high tax rates. But DraftKings' new idea isn't sitting well with bettors or analysts.
DraftKings spurred debated among the wagering community on Thursday (1 August) when it announced plans to implement a gaming surcharge for players in high tax states.

In its Q2 business update, the company said it has “plan to address high tax states”. That is to “roll out a gaming tax surcharge” starting 1 January 2025. This will be applied to winning bets “in any state with a tax rate above 20% that has multiple sports betting operators”. Those criteria currently apply to New York, Illinois, Vermont and Pennsylvania.

New York’s tax rate is 51%, Pennsylvania is 36% and Vermont is 20%. Illinois recently implemented a sliding scale that caps out at 40% for the highest-earning operators. The bottom of the scale is 20%.

DraftKings asserted the surcharge will be “fairly nominal to the customer”. The only ..

May 10, 2024

FanDuel TV launches new streaming channel

FanDuel TV, the television network of operator FanDuel, has announced the launch of FanDuel TV Extra, a new free streaming channel.

FanDuel claims its new free ad-supported streaming television (FAST) channel shows more live sports than any other FAST channel currently out there, making it the “premier destination” for sports fans looking to watch and bet concurrently.

FanDuel TV Extra is currently available through streaming platforms such as Pluto TV and the Roku Channel. It’s also accessible through FanDuel’s over-the-top streaming platform FanDuel TV+.

Bettors can access coverage of international basketball from countries such as China and Turkey, as well as football from the South Korean K-League. Also available will be Professional Darts Corporation and PokerStars events.

Having launched FanDuel TV back in September 2022, executive producer and senior vice-president Kevin Grigsby believes the new channel will help with customer acquisition. Grigsby also revealed that it was l..

April 10, 2024

Solving sports betting – the AI way

The advent of AI-assisted products in the sportsbook space appears to offer up the prospect of an epoch-changing leap forward in risk management. But does it mean that margin volatility will become a thing of the past? Not quite yet, suggest the experts. But the product is developing fast.

Buzz phrases don’t get much buzzier than “AI-assisted”. The mere mention of the phrase either prompts excited optimism about a tech-driven future – or a very real fear of the same.

In the betting and gaming space, the use of artificial intelligence may not quite engender the apocalyptic visions of the AI naysayers in the wider world. But it still appears to offer the possibility of very much changed business practices.

the advent of ai could herald huge change for sports betting, writes Scott Longley

Notably, given the central importance of data to any potential machine learning or AI developments, it is the two leading sports data collection entities that are leading the charge.

The pair launc..

March 12, 2024

Genius Sports set to extend Premier League data deal until 2029

Genius Sports has been chosen as the successful bidder to extend its official betting data partnership with Football DataCo, which holds data rights to the English Premier League (EPL).

DataCo also holds rights to data from the English Football League (EFL), containing the Championship, League One and League Two, as well as all leagues overseen by the Scottish Professional Football League (SPFL), including the Scottish Premiership.

Genius has now entered into an exclusive period of negotiation with DataCo as it seeks to get the extension over the line. The renewed agreement is still subject to contract and the approval of the leagues and their clubs.

Genius has exclusively supplied low latency data to DataCo from the EPL, EFL and SPFL since 2019. The current deal expires at the end of the 2024-25 season, with the new contract set to last until 2029.

The fresh deal will see Genius Sports continue to distribute data from over 4,000 UK football fixtures per season.

Genius Sports repo..

January 30, 2024

FairPlay Sports Media announces Quarter4 purchase

FairPlay Sports Media (FPSM) has announced the acquisition of deep-learning neural network Quarter4 (Q4), hoping to “unleash” the full potential of its proprietary data and technology platform.

FPSM underwent a rebrand from Oddschecker Media Group last week and has now announced its first purchase. The price of the deal for the Toronto-based Q4 remains undisclosed.

Q4, founded in 2019, specialises in predicting sports outcomes, as well as providing unique data and content opportunities.

FPSM says the move aligns with the company’s objective to “transform BetTech”, benefitting consumers, publishers and operators worldwide.

FPSM brands will leverage Q4’s prediction technology in combination with the group’s price movement data across “millions of sports events”.

Stuart Simms, FPSM’s group chief executive, declared: “The acquisition of Quarter4 is a significant milestone for our group, giving our various brands the ability to unleash our already market-leading data and tech platform ..

January 30, 2024

Genius Sports announces “first-of-its-kind” Edge automated pricing tool

Genius Sports has announced an automated pricing tool called Edge, which it believes is the first of its kind in the market.

Genius Sports’ tool will allow sportsbooks to maximise profits over “unlimited” sports events and bets. Factoring in real-time liability, Edge can recalculate odds at a fixture and market-type level for maximum profitability, including bet-builder products.

Genius Sports product director Thomas Holland revealed early adopter partners of Edge have enjoyed an 18% average rise in margins. The tool is available now through Genius Trading Services or as a standalone solution.

“The explosion of betting content means sportsbooks offer hundreds of thousands of events every year,” Holland said in the announcement. “This makes it almost impossible for trading teams to truly optimise pricing and ensure they are squeezing maximum margin out of every bet, especially where turnover is highest.

“We’re excited to roll this ground-breaking solution out across our sportsbook p..

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Tag: Product & technology