Retail sports betting – Page 12

February 21, 2024

Pennsylvania gambling revenue edges up year-on-year in January

Overall gambling revenue in the state of Pennsylvania increased by 2.7% year-on-year to $477.2m (£378.1m/€441.9m) in January.

Revenue was up from $464.4m in January 2023 but 10.7% behind the $534.2m generated in Pennsylvania in December. This revenue comprises land-based slot and table games, online gambling sports betting, video lottery terminals (VLTs) and fantasy sports.

Physical slots remain the primary source of gambling revenue in Pennsylvania at $179.5m, down 11.2% year-on-year. Land-based table games revenue also slipped 13.4% to $72.7m.

Revenue was 10.7% lower than December 2023

Slots drive online gambling growth in Pennsylvania

In contrast, the Pennsylvania online gambling sector reported more growth. During January, revenue from igaming amounted to $149.6m, up 12.4% from last year.

Online slots revenue reached $110.0m, a rise of 22.0%. However, online table game revenue fell 7.8% to €36.9m, while internet poker revenue was almost level at $2.7m.

Hollywood Casino at P..

February 20, 2024

Mississippi sports betting revenue up in January despite handle dip

Sports betting revenue in Mississippi increased year-on-year in January despite the Magnolia State reporting a decline in handle.

Monthly revenue amounted to $6.7m (£5.3m/€6.2m) in Mississippi. This was 31.4% ahead of $5.1m in January 2023 and also 36.7% up from $4.9m in December.

These increases came despite players spending less on betting, with total handle for January at $44.6m.

January’s total handle was 22.0% behind $57.2m in the same month last year. It was also some 8.8% less than the $48.9m bet in December 2023.

Life’s a beach: Mississippi coastal casino revenue hits $4.0m

As has been the case for some time, Mississippi coastal casinos were again the most popular with bettors.

Some $29.1m was bet with retail sportsbooks at costal casinos, with revenue hitting $4.0m. Of revenue at these venues, the majority ($1.6m) came from American football betting, with $12.0m wagered on the sport.

Elsewhere, revenue from central casinos reached $1.5m from a handle of $9.1m. Parlay ..

February 20, 2024

Louisiana sports betting growth curve flattens in January

Players in Louisiana wagered $346.3m (£275.1m/€321.4m) in January, an increase on the same month last year but less than December’s total, ending three months of consecutive growth in the Pelican State.

The monthly total was 22.7% higher than $282.3m in January 2023. However, it was 8.1% behind December’s record figure of $377.0m. Incidentally, December was the third straight month that Louisiana reported a record handle.

Of all bets placed in January, $317.8m were online and $28.5m at retail sportsbooks.

Looking at revenue for the Louisiana market as a whole, this was 72.1% higher than last year at $38.9m. However, the January total fell 30.3% short of December’s record $38.9 haul.

Online betting generated a total of $317.8m in revenue during the month. Retail’s share hit $28.5m in January.

Tax for the month amounted to $5.7m, with $5.3m coming from online betting and $340,385 in retail.

Louisiana year-to-date handle edges closer to $2.00bn

Looking at the state’s year-to-date p..

February 19, 2024

Kansas sports betting handle tops $239m in January

Consumers in Kansas spent $239.6m (£190.1m/€222.4m) on sports betting in January, while total revenue in the Sunflower State reached $14.3m.

Monthly handle was 16.3% ahead of January 2023 but 7.7% behind the $259.7m wagered in Kansas in December.

Online betting accounted for $228.6m of all bets placed during the month. In contrast, just $11.5m in wagers were reported at retail sportsbooks.

Turning to revenue, the January total was 138.3% higher than $6.0m in the same month last year. However, it was 28.9% behind the record $20.1m posted in December 2023.

Revenue from online sports betting in January amounted to $14.3m. Retail’s revenue share for the month reached $668,086.

Kansas Star and FanDuel lead the way

Kansas Star and partner, Flutter Entertainment-owned FanDuel, took top spot in the online market in January. Revenue from the partnership reached $6.1m from $77.3m.

kansas posted an all-time high monthly revenue figure of $20.1m in december

Boot Hill Casino and DraftKings,..

February 16, 2024

Super Bowl Sunday: Stats showdown

On 11 February, the Kansas City Chiefs and San Francisco 49ers faced off in Allegiant Stadium, Las Vegas, for Super Bowl LVIII. iGB brings you a comprehensive analysis of the game's most interesting betting data.

Many in the industry had high hopes for the 58th edition of the Super Bowl. And they were right too – Sunday’s game was the most-watched American television broadcast since Neil Armstrong walked on the moon.

While loyal American football fans and cheerful once-a-year viewer types undoubtedly tuned in, the hype around the final was no doubt amplified by the presence of Taylor Swift. According to Apex Marketing Group, Swift has generated a hefty $331.5m (£264.0m/€309.5m) for the National Football League (NFL), simply by showing up to watch her boyfriend Travis Kelce, the Chiefs’ tight end, play.

A survey by the American Gaming Association projected that a record 67.8 million American adults would bet $23.1bn on this year’s Super Bowl, marking a 35% rise in bettors from 2..

February 15, 2024

Super Bowl wagers hit $71.5m in Pennsylvania

Super Bowl wagers in Pennsylvania totalled $71.5m (£56.8m/€66.4m), according to data released by the Pennsylvania Gaming Control Board.

These were wagers made through both retail and online sportsbooks. In total, this is a decrease of 15.1% compared to Super Bowl 2023, when the Philadelphia Eagles were defeated by the Kansas City Chiefs.

The regulator added that after payouts, revenue should come to $11.0m, down 62.7% from the $29.7m revenue generated from last year’s Super Bowl.

This marked the sixth year that sports betting was legal in Pennsylvania for the Super Bowl. It was also the fourth year of online sports betting in the state. Bettors could choose between 18 retail locations and 12 online betting sites to place their bets.

Online versus retail breakdown

Online wagers totaled $64.6m for Super Bowl 2024, a decline of 12.5% compared to online wagers on 2023’s game. The 2023 online wagering total was also the highest since online sports betting was introduced in Pennsylvania..

February 14, 2024

Maine sports betting receipts hit new high despite handle dip in January

Adjusted gross receipts from sports betting in Maine reached a new monthly high of $5.5m (£4.4m/€5.1m) in January despite a dip in player spending.

Total handle for January in Maine was $38.1m. This was 13.4% behind $44.0m in December but 1.3% ahead of $37.6m in November, the first month of legal betting.

As for adjusted gross receipts, the January total was 25.0% ahead of $4.4m in December. It also beat the $4.6m generated in the opening month by 19.6%.

Sports betting adjusted gross receipts account for voided and cancelled bets, player winnings and a 0.25% federal excise tax.

In terms of total other tax due to the state, this amounted to $546,099 in January. Maine has a tax on sports betting of 10.0% of adjusted gross receipts.

DraftKings ahead in Maine two-horse race

bill ld 585 was signed in may 2022 to legalise sports betting in maine

Maine currently only has two licensed operators that offer sports betting: DraftKings and Caesars. Both have tribal partnerships in place,..

February 13, 2024

Maryland’s January sports betting revenue up 23.4% year-on-year

Maryland has reported a 23.4% year-on-year increase in January for sports wagering, accumulating $545m (£431.9m/€506.2m) in revenue for the month.

Maryland’s January figures far exceeded the same month last year, when it recorded $441.5m in revenue. Taxable win for the month was $55m, with the contribution to the state standing at $8.2m, an all-time high.

Hold in January was 14.7%, 1.2% higher than the same month last year, while prizes paid to players amounted to $465m, again a 21.8% increase year-on-year.

Maryland has now accumulated $3.1 trillion in sports betting handle for its 2024 financial year, a 144.9% hike on 2023.

Maryland lottery and gaming director John Martin attributed the strong revenue figures to the NFL playoffs, stating the sporting calendar was the “driving force” behind the state’s sports wagering success.

FanDuel out in front

fanduel led the way in maryland for january in both online and retail

Live! Casino Hotel and FanDuel recorded a handle of $244.6m in ..

February 13, 2024

Indiana sets monthly revenue record of $53.5m for January

Indiana has recorded a total taxable adjusted gross revenue (AGR) of $53.5m (£42.4m/€49.7m) for January, beating the previous record of $50.6m set in December.

Indiana reported a total sports wagering handle of $480.3m for January, a 4.5% drop from the previous month’s total of $503.1m.

Of the handle, $269.9m was spent on parlays, with American football and basketball receiving $57.5m and $113.1m in bets respectively.

DraftKings and FanDuel battling it out in Indiana

draftkings and fanduel have been battling it out in indiana

Ameristar Casino and its DraftKings sportsbook was the leader for handle with $181.4m, accumulating a total AGR of $18.7m. FanDuel, meanwhile, came away with $23.3m in AGR despite taking less in bets than DraftKings with $160.1m.

Penn Entertainment-operated Hollywood Lawrenceburg took $39.4m in handle while Belterra Casino, another FanDuel partner, placed fourth with $36.6m.

Caesars, meanwhile, was fifth for handle with $32.1m at Harrah’s Hoosier Park, fin..

February 12, 2024

Barstool scores sports betting partnership with DraftKings

Barstool Sports has announced details of a new a multi-year sports betting partnership with DraftKings.

Under the agreement, DraftKings is now the official sports betting partner of Barstool. David Portnoy, the founder of Barstool, confirmed the news in a blog post shortly after Super Bowl LVIII ended last night (11 February).

The deal marks the second time that the two parties will be working together. DraftKings and Barstool were previously partnered on a marketing collaboration 10 years ago.

“I’m proud to announce Barstool has signed a multi-year monster deal with DraftKings,” Portnoy said. “We’re back to our roots. DraftKings is once again the exclusive sports betting partner of Barstool Sports. The more things change the more they stay the same.”

DraftKings is yet to comment on the announcement.

Barstool back with Portnoy

The deal comes just a few months after Portnoy took back the Barstool brand from Penn Entertainment. Penn purchased the brand in 2020 and was running spo..

February 12, 2024

New York breaks online sports betting revenue record again in January

New York set a new online sports betting record for the second consecutive month during January, with operators generating $211.5m (£167.5m/€196.1m).

The January total was 12.3% ahead of the previous record of $188.3m set in December of 2023. It was also 41.6% more than the $149.4m reported in New York in January last year.

In terms of handle, players wagered a total of $1.96bn during the month. This was 9.5% up from $1.79bn in January 2023 but 3.9% less than December’s $2.04bn. It was also 6.7% behind the record $2.10bn reported in November last year.

Players spent more than $2.0bn between october 2023 and december

However, January marked the end of a three-month run of New York players spending more than $2.00bn betting on sports online. The state first surpassed the $2.00bn milestone in October 2023.

FanDuel clinches monthly revenue record in January

Looking at individual operators, Flutter Entertainment’s FanDuel remains the frontrunner by some distance.

In January, FanDuel..

February 12, 2024

Iowa sports betting handle and revenue rise in January

Sports betting handle and revenue in Iowa both increased year-on-year in January but fell on a month-on-month basis from December.

Total consumer spending in Iowa during January was $259.5m (£205.4m/€240.5m). This is 11.1% ahead of $233.6m in January 2023 and but 8.2% behind $282.7m in December.

Some $238.4m was spent wagering on sports online, while the remaining £21.1m was bet at retail sportsbooks.

revenue dipped 8.2% compared to december 2023

As for revenue, this amounted to $22.1m in January. The figure is 33.9% clear of $16.5m in January last year but 16.0% short of December’s $26.3m haul.

Online wagering accounted for $20.5m of all monthly revenue in Iowa, with retail’s share at $1.5m.

FanDuel and Diamond Jo Dubuque remains Iowa frontrunners

In terms of individual operators, FanDuel and Diamond Jo Dubuque remain the leaders in Iowa by some distance. For January, the partnership generated $8.0m from $68.0m in bets.

DraftKings and partner Wild Rose Jefferson followed in a ..

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Tag: Retail sports betting