Retail sports betting

Kentucky sports betting handle tops $2.39bn in first year

Players in Kentucky spent $2.39bn (£1.81bn/€2.17bn) betting on sports during the state's first year of regulation, while adjusted gross revenue in the Bluegrass State reached $272m.
Kentucky launched legal retail sports betting on 7 September 2023, with online wagering going live three weeks later. State regulator, the Kentucky Horse Racing Commission, has now published figures for the 12 months to the end of August.

Players in Kentucky favoured online betting, with total spend over the internet at $2.3bn in year one. In contrast, retail sportsbook attracted $87.1m in wagers during the 12-month period.

Revenue-wise, online betting generated $264.3m and retail wagering $7.8m. Figures related to adjusted gross revenue, which is revenue after player winnings and federal excise tax.

On the subject of tax, Kentucky collected $37.7m from online sports wagering and $756,517 retail betting. As for hold, the state’s total in year one was 9.28%, with online at 11.5% and retail 8.91%.

Fa..

October 3, 2024

FanDuel holds off DraftKings challenge to lead Ohio betting market in August

Flutter Entertainment-owned FanDuel remained the frontrunner in the Ohio sports betting market in August – a month in which the Buckeye State saw revenue drop to a calendar year-low
According to the Ohio Casino Control Commission report that dropped on Tuesday (1 October), total player spend in Ohio for August was $547.9m (£417.6m/€496.2m). This is 44.6% ahead of last year and 14.9% more than July of this year.

Consumers wagered $539.9m on sports online during the month, while a further $13.0m was bet at retail sportsbooks.

In terms of taxable revenue, this amounted to $48.8m, the lowest monthly total so far for 2024. The August figure was 19.6% more than the same month last year but 8.8% behind July’s $55.3m haul.

Online sports betting generated $46.6m in revenue, while retail sportsbooks contributed $2.0m to the monthly total. Total taxable revenue for the year-to-date in Ohio stands at $541.5m.

As for hold, this hit 8.91% for the state as a whole in August. Online hold was 8.63%..

October 2, 2024

More BetMGM betting violations revealed in Massachusetts

An external audit commissioned by BetMGM in Massachusetts revealed multiple potential violations of state wagering regulations. The Massachusetts Gaming Commission (MGC) decided on Wednesday (2 October) to handle the newly found violations and two existing ones in a single adjudicatory hearing.
After BetMGM allowed banned prop bets on college football games and professional soccer matches, the operator hired Gaming Laboratories International (GLI) to audit its books. That company found additional potential “non-compliant” bets, including:

Forty-one more college-player props on college football;
Thirteen college-player props on college basketball;
Twelve college-player props on two women’s Elite Eight college basketball games on 1 April 2024; and
One hundred-and-six bets placed between 8 June 2024 and 17 June 2024 on Glory Kickboxing events.

College-player prop bets are prohibited in Massachusetts. And Glory Kickboxing is not an approved betting market. MGC staff revealed the add..

October 2, 2024

US August revenue round-up: Sports betting in Virginia, Colorado and Rhode Island

Rounding up some of the latest monthly sports betting results in the US, iGB take a closer look at how the markets in Virginia, Colorado and Rhode Island performed during August.
Virginia handle rockets 30.6% in August
Starting in Virginia, monthly handle in Old Dominion hit $416.7m (£313.8m/€376.6m). This is 30.6% more than August last year and 10.4% ahead of July of this year.

Figures from the Virginia Lottery show players spent $414.8m betting online and $1.9m at retail sportsbooks inside casino.

Players won $376.5m, while the Lottery accounted for $6,057 in promotions and bonuses and $5.2m in other deductions. As such, adjusted gross revenue for August amounted to $35.0m, up 24.1% year-on-year but 10.7% lower than July.

Online betting accounted for $34.6m of total revenue in August, with the other $415,139 coming from retail sportsbooks. Overall operator hold percentage for the month stood at 9.63%.

The Virginia Lottery does not publish a breakdown of individual operators. Howe..

October 1, 2024

Pete Rose bet on his own team. But he also embodied baseball for generations. That’s worth remembering

Baseball legend Pete Rose died on Monday (30 September). But you already know that. And if you're like me and grew up watching Rose play, you're left with a host of complicated feelings.
Since that fateful day 35 years ago, when Pete Rose accepted a spot on baseball’s “permanently ineligible” list, his legacy has been fraught. Unquestionably one of the best ballplayers who ever lived, Rose broke sports’ cardinal rule. He bet on baseball and, not only that, on his own team.

Rose died in his home on Monday of causes yet unknown, a spokesperson for the Clark County office of the coroner/medical examiner in Nevada told CNN. He was 83.

On 23 August 1989, then-Major League Baseball commissioner A Bartlett Giamatti banned Rose from the game. Forever. Rose didn’t think it would stick. But Giamatti died of a heart attack just a week after penalising Rose. Since then, no other MLB commissioner has seriously considered reversing the ban, which means Rose could very well be the best..

September 30, 2024

Weekend Report: DraftKings penalty, former deputy PM talks UK election betting, David takes over at Entain

Welcome to the Weekend Report, where iGB looks at the news that you may have missed over Friday, Saturday and Sunday. This week, DraftKings agrees to pay $200,000 over disclosure violations, former British deputy PM speaks to the regulator about election betting probe and Stella David takes the helm at Entain.
DraftKings faces $200,000 penalty
First this week, DraftKings has agreed to pay a $200,000 (£149,251/€178,756) penalty for selectively disclosing certain material non-public information on social media accounts, instead of all investors.

In July last year, DraftKings’ public relations company published posts on LinkedIn and X, formerly Twitter, about “strong growth”. This was despite DraftKings having not released its Q2 2023 financial results. DraftKings asked for the posts to be removed but did not distribute information to investors for another week.

The US Securities and Exchange Commission hit out at DraftKings. It said such information must be made available to all inves..

September 27, 2024

State of the Union: UNLV QB, G2E headliners and more

Welcome to iGB's State of the Union, a look at the biggest North American sports betting stories we've covered over the week and briefs on others we found interesting.
Circa tries to remedy UNLV QB mess
A Circa vice-president reportedly offered to pay UNLV quarterback Matthew Sluka $100,000 (£74,730/€89,550) that Sluka said he was promised by an assistant coach at the school. But by the time the offer came, Sluka had already redshirted. He said he was leaving the Rebels, who have started the season 3-0.

Per the Action Network, Circa Sports VP of Operations Mike Palm contacted the school midweek after having a conversation with Circa CEO and owner Derek Stevens. Palm told the outlet that he talked with Stevens “about assisting the school in keeping its starting quarterback”.

“I told Derek, ‘Why don’t we take a run at it?’” Palm told Action Network. “’The kid’s claiming he’s owed $100,000. Are you willing to make a call to UNLV to help out?’”

But Sluka and UNLV had already ..

September 27, 2024

Nevada August betting revenue jumps 39.7% while slots hit total GGR

Rounding up some of the latest monthly state results in the US, iGB takes a closer look at how a drop in slots activity saw overall gambling revenue fall in Nevada in August, while Mississippi reported growth within its retail sports betting market.
Mobile sports betting in Nevada was up 13% on 2023 to $14.8m, data from the Nevada Gaming Control Board shows.

Baseball reaped the highest revenue of all sports during the month, making up $9.7m of the vertical’s revenue in August, while American football betting hit $8.7m. However, hockey and basketball betting activity both generated losses for operators.

Betting across other sports generated $7.6m in additional revenue, with the Control Board noting that $14.8m of all wagering revenue came from mobile.

Meanwhile revenue from sports betting pools, which is counted under table games, jumped 38.9% year-on-year to $25m in August.

The Control Board does not disclose handle details for sports betting.

Nevada revenue down again in August
..

September 25, 2024

Stats Perform snaps up betting video rights to Scottish football

Sports data and live streaming provider Stats Perform has secured exclusive betting video rights for the Scottish Professional Football League (SPFL) and Scottish Women’s Premier League (SWPL).
Under the long-term agreement, Stats Perform will distribute live video streams to licensed international sportsbooks outside the UK. The deal marks the first time the provider will offer Scottish football video content.

The partnership covers the top-tier men’s Premiership and Women’s Premier League. It also includes games across the Championship and League One, as well as the Scottish League Cup, SPFL Trust Trophy and the SWPL Cup.

Content will be available via the Stats Perform Bet LiveStreams video service. The provider did not disclose the length of the new deal.

“Innovative” step for Scottish football
SPFL group chief executive Neil Doncaster welcomed the partnership. He said it will allow fans to “tap into a wealth of innovation” within the sports betting sector.

“Stats Perform’s team..

September 23, 2024

US August round-up: Louisiana, New Hampshire and Wyoming

Rounding up some of the latest monthly sports betting results in the US, iGB takes a look at how Louisiana, New Hampshire and Wyoming performed in August.
Handle and revenue growth in Louisiana
Starting in Louisiana, spending on sports betting in August hit $234.5m (£176.3m/€211m). This is 52.3% higher than in August last year and also 27.1% ahead of July this year.

Online handle jumped 57.1% year-on-year to $218.2m, while retail spend was 8.2% higher in August at $16.3m.

As for revenue, the market total in Louisiana was $25.4m, up 49.5% from last year and 5.9% more than July. Online revenue jumped 51.2% year-on-year to $22.7m, with retail rising by 36.4% to $2.7m.

Louisiana does not publish a breakdown of individual operators. It does, however, set out where revenue came from, with parlay betting the main source of revenue across online ($13m) and retail ($1.4m) In August.

This meant an overall hold of 10.8%, with online at 10.4% and retail 16.5%. As for tax, some $3.7m was colle..

September 23, 2024

Weekend Report: Labour MP urges Channel 4 to stop gambling ads, Caesars expands reach in Washington

Welcome to the Weekend Report, where iGB looks at the news that you may have missed over Friday, Saturday and Sunday. This week, a Labour MP urges Channel 4 to lead the way in halting gambling adverts in the UK and Caesars extends its sports betting reach in Washington.
Labour MP calls on Channel 4 to drop gambling adverts
First, Labour MP Alex Sobel has written to UK broadcaster Channel 4 urging it to become the first channel to stop airing gambling adverts. Sobel has targeted Channel 4 as it is in public ownership, allowing it more freedom over such issues.

According to the Independent, Sobel referenced Channel 4 as a broadcaster that challenges “the status quo”. He also said he would be willing to work with Channel 4 on the initiative in the longer term.

“Removing gambling advertising from broadcast and on-demand television would provide another layer of protection for those vulnerable to gambling-related harms, and help [curb] the increase in gambling activity among new demograph..

September 19, 2024

US sports betting round-up: Kansas, Connecticut and Delaware in August

Rounding up some of the latest monthly sports betting results, iGB analyses how Kansas, Connecticut and Delaware performed during August.
Handle growth drives revenue up in Kansas
Starting in Kansas, total revenue from online and retail sports betting in August hit $6.6m (£5.0m/€5.9m). This is 37.5% ahead of August last year, but 28.3% less than in July.

Online betting drew $6.5m of all revenue in August, with retail’s share at just $123,489.

Spending-wise, total handle for August topped $147.0m. This is some 55.7% ahead of last year and 20.5% higher than July.

As for hold, total hold for the Kansas market in August was 4.5%. Online hold also hit 4.5%, with retail at 3.0%.

DraftKings remains the one to beat in Kansas
Looking to operators in Kansas, DraftKings continues to lead the online market. Partnered with Boot Hill Casino, DraftKings posted $3.0m in revenue off $67.7m in bets, a 4.4% hold.

FanDuel again placed second with $2.6m off $43.8m in handle via its partnership with Ka..

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Tag: Retail sports betting