Retail sports betting

Chris Christie has plenty to say about gambling legalisation. But is he right?

New Jersey's former governor spouted off about chances of legalisation in Texas and California last week. But he's way off the mark.

In an interview with Covers about the state of legal gambling in the US last week, the former New Jersey governor revealed that he is out of touch. Although he and his administration spearheaded the lawsuit that resulted in legal sports betting across the US, Christie would be wise to speak of what he knows.

Or as gaming consultant Brendan Bussmann said: “Texas and California are beasts unto their own and have their own political dynamics, which make them their own markets. This isn’t waving pixie dust on everything and making sports betting happen like one former governor seems to think.”

Christie’s comments about California showed clear ignorance about the state of gambling expansion in the biggest state in the nation. And about how gambling politics work there. Not once did he mention California’s tribes, which have exclusivity for gaming..

2 days ago

New Jersey igaming revenue record tumbles again in October

New Jersey reported a 2.6% year-on-year increase in gambling revenue during October, driven by another record breaking month for igaming.

Meanwhile, the Garden State’s sportsbook operators showed evidence of player-friendly NFL results hitting performance. Major operators have flagged this as a risk to fourth quarter revenue in their Q3 results.

Total gaming revenue in New Jersey across all channels and verticals was $499.8 million (£394.4 million/€472.5 million) in October. This exceeds last year’s $487.1 million monthly total but falls 10.5% short of $558.3 million in September this year.

Licensees paid $55.0 million in taxes for the month, with internet gaming again the main driver. It contributed $31.9 million to that total from a 15% gross revenue levy. Brick-and-mortar casinos (taxed at 8% of GGR) added a further $13.0 million, with $9.9 million and $194,771 coming from online (13% tax) and retail sports betting (8.5%) respectively.

Igaming revenue surpasses land-based casin..

3 days ago

Illinois sports betting revenue reaches record $136.4 million in September

Sports betting revenue in Illinois hit an all-time monthly high of $136.4 million (£108.1m million/€129.4 million) during September, while the Prairie state fell just short of setting a new handle record.

Players spent a total of $1.31 billion betting on sports during September, which marked the NFL season kick-off. This is 21.5% more than September 2023 and 49.2% ahead of August this year. However, it missed the all-time state record – $1.38 billion in November 2023 – by 4.7%.

Online spend for the month amounted to $1.27 billion, with retail handle coming to $34.9 million. The Board said professional sports drew the most bets at $1.12 billion, with college sports at $177.1 million, motor racing $753,685 and other sports $5.3 million.

Adjusted gross revenue (AGR) was 58.6% higher than September last year and also 130.4% above August this year. It narrowly surpassed the existing Illinois monthly record – $135.2 million in January this year – by 0.9%.

Figures from the Illinois Gaming..

November 15, 2024

Here are the sports betting platforms that already have Missouri market access

Those in Missouri will finally get a chance to bet on sports after voters approved a legal digital and retail sports betting initiative on 5 November. And every major operator already has some sort of existing relationship with a casino or professional sports team in the state.

Missouri’s new law requires that sports betting go live by 1 December 2025. Given that the state has an existing casino industry, it could launch sooner. And Jan Zimmerman, chair of the Missouri Gaming Commission (MGC) says the rules promulgation process has already started.

“Our folks are writing the rules and regulations as we speak,” Zimmeran told KFVS 12 on 12 November.

Zimmerman didn’t reveal a projected launch date or when rules might be available for review. But the MGC meets at the end of each month, usually around the 25th. The agenda and date for the November meeting are not posted yet. Once the process starts, it’s likely that the commission will first approve an application and open that process…

November 14, 2024

Lawyer who argued, won PASPA case before US Supreme Court dies at 84

Time magazine labelled Olson, who helped legalise sports betting, one of the 100 most influential people in the world in 2010.

Theodore “Ted” Olson, the lawyer who successfully argued Murphy vs National Collegiate Athletic Association in front of the United States Supreme Court, thereby overturning the Professional and Amateur Sports Protection Act (PASPA) and paving the way for states to make their own determination on the matter of sports betting, has died.

His death was announced by his law firm, Gibson Dunn. Olson was 84.

“Ted was a titan of the legal profession and one of the most extraordinary and eloquent advocates of our time,” Barbara Becker, chair and managing partner of Gibson Dunn, said in a release. “He was creative, principled, and fearless – a trailblazing advocate who cared about all people. We mourn his loss profoundly and send our condolences to his wife Lady, a cherished member of our firm family, and to all of Ted’s loved ones.”

While Olson handled many high-pro..

November 1, 2024

Ohio sports betting handle reaches year-high $863.0 million in September

Players in Ohio spent $863.0 million (£668.9 million/€794.5 million) betting on sports during September, the highest monthly total so far this year and the largest since November last year.

The September total is 25.0% ahead of the same month last year and 57.5% up from August this year. It is also the third-highest monthly total on record in Ohio, behind $864.2 million in November 2023 and $1.11 billion in the market’s launch in January 2023.

Ohio Casino Control Commission data shows players bet $842.4 million online and a further $20.7 million at retail sportsbooks.

As for taxable revenue, this reached $106.2 million, beating last year by 29.8% and August by 117.6%. Like handle, it is the third-highest total, behind $113.8 million in January this year and $208.5 million in January 2023.

Online sports betting generated $102.9 million in monthly operator revenue, with retail contributing $3.2 million.

In terms of hold, the state-wide figure for September was 11.92%. Ohio players w..

October 31, 2024

US September round-up: Sports betting in Colorado, New Hampshire and Rhode Island

Analysing some of the latest monthly sports betting reports in the US, iGB takes a look at how Colorado, New Hampshire and Rhode Island performed in September.

Colorado scores year-on-year growth in September

Starting in Colorado, the Colorado Department of Revenue this week reported total handle across online and retail in September hit $562.9 million (£433.0 million/€518.5 million). This beats last year by 9.8% and also surpasses August’s total by 51.2%, according to the Colorado Department of Revenue.

Of all wagers placed during September, $558.1 million was online and $4.8 million at retail sportsbooks.

Betting volume was helped by the start of the NFL season. Some $173.1 million was bet on American professional football in September, far more than any other sport. Baseball betting topped $69.0 million and college football $42.3 million.

Gross gaming revenue for September was $55.1 million, up 21.6% from last year and 66.0% more than August. Online contributed $54.6 million to..

October 30, 2024

Arizona: Sports betting revenue and handle rise in August

Sports betting revenue and handle in Arizona increased year-on-year during August, while the state also saw player spending reach its highest monthly total since May.

Total handle for August hit $496.6 million (£382.8 million/€458.4 million). This is 38.4% ahead of last year and also 21.1% above the amount bet in Arizona in July this year.

Some $473.8 million was spent betting on online, while a further $22.8 million was bet at retail sportsbooks across the state.

Data from the Arizona Department of Gaming (ADoG) also shows adjusted gross revenue for August topped $37.3 million. This beats last year by 17.7% but falls 12.2% short of July.

After deducting $14.9m worth of free bets and promotional credits, adjusted gross revenue (AGR) hit $22.4 million. This surpasses last year’s total by 4.7% but is 22.8% behind July this year.

Online betting accounted for $22.2 million of all AGR after deducting free bets. The remaining $210,108 came from wagering at retail sportsbooks in Arizona…

October 29, 2024

Summer of sport fails to halt betting activity decline in Belgium

Fewer consumers in Belgium were active online and betting on this summer’s UEFA Euro 2024 national football team tournament than during the 2022 Fifa World Cup, according to new data from the country’s gambling regulator Kansspelcommissie.

Published this week, the ‘Summer of Sports 2024’ report details players’ betting activity throughout this summer. This period includes major events such as Euro 2024 and the Olympic Games in Paris, France.

Kansspelcommissie released figure for new players, with the average number of new online users during Euro 2024 at 1,031. This is lower than both the 2022 World Cup (1,487) and Euro 2020 (1,175). New online accounts fell from the 3,961 daily average at the 2022 World Cup to 3,298 this year. However, this did surpass the 3,022 daily average during Euro 2020.

Euro 2024 fails to match betting heights of World Cup 2022

Stand-out findings include a decline in the average number of online players active per day during Euro 2024. This stood at 196,95..

October 23, 2024

Latest bill calls for online betting ban in Brazil

A bill to ban online sports betting in Brazil has been proposed by senator Sérgio Petecão on concerns that betting impacts mental health and drives financial debt.

Bill 4.031/2024 was put to the senate on 21 October. It is the latest in a series of initiatives by politicians to restrict online betting in Brazil, months before the licensed market is scheduled to open on 1 January 2025.

Preparations to award licences are in motion but various senators and public figures have expressed concern. Key issues are the impact that online betting can have on vulnerable groups including the elderly and those receiving social benefits.

Concern stems from a controversial study that claimed regular bettors have sacrificed money meant for food and medicine to wager. Despite its small sample size (1,337 consumers polled) and controversial findings, the study received significant media coverage.

Industry awaiting President Lula betting update

President Luiz Inácio Lula da Silva is expected to..

October 22, 2024

US betting round-up: Connecticut, Louisiana, Mississippi and Wyoming in September

Rounding up some of the latest US monthly sports betting results, iGB takes a closer look at how Connecticut, Louisiana, Mississippi and Wyoming betting operators performed in September.

Betting records tumble in Connecticut

Looking now to Connecticut, the state set new monthly records across sports betting handle and gross gaming revenue (GGR) during September.

Monthly spend on betting hit $214.4m (£164.9m/€198.1m), narrowly beating the previous record of $212.2m in December 2023. This is also up 18.5% from September 2023 and 65.9% above August, according to the Connecticut Department of Consumer Protection.

Of this total, $204.9m was attributed to online betting and $9.5m retail sportsbooks.

As for revenue, GGR from sports betting during September was $26.6m, another new monthly record. This surpasses the $24.9m previous all-time high reported in January, while also beating last year by 41.5% and August by 94.2%.

Online betting drew $25.3m of all revenue in Connecticut, with re..

October 21, 2024

Illinois sports betting handle up in August, but hold declines sharply against July

Sports betting revenue in Illinois increased year-on-year in August despite the impact of new tax laws in the state. Monthly handle was also higher than in 2023.
For August, total ‘completed events’ adjusted gross revenue hit $59.2m (£45.5m/€54.6m) in Illinois. This is 26.2% more than last year but 17.0% lower than July. State-wide hold was 6.74%, down from 9.22% in July.

Figures from the Illinois Gaming Board (IGB) show some $57.8m of all revenue came from online betting. The remaining $1.3m was attributed to wagering through retail sportsbooks across the state.

As for spending, total handle for the month amounted to $877.8m. This surpasses last year by 29.8% and also beats July this year by 13.5%.

August is widely regarded as one of the quieter of the summer months due to fewer major league events, although this year benefited from the Olympic Games in Paris, France. College football also starts in late August, as do NFL pre-season games. Players bet $852.9m online during August ..

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Tag: Retail sports betting