Retail sports betting – Page 15

December 21, 2023

Louisiana smashes sports betting handle record again in November

Louisiana players wagered $356.5m (£282.1m/€325.8m) on sports during November, a new monthly record for the Pelican State.

The November handle surpassed the existing record high of $308.6m set in October 2022 by 15.5%. It was also 32.7% up from $268.6m in Louisiana in November last year.

Consumers spent $322.9m betting online during November and a further $33.5m at retail sportsbooks.

Revenue falls some way short of Louisiana record

louisiana’s november revenue fell short of october’s record total

While spending was higher, this was not reflected in the state’s monthly revenue figure. For November, revenue from online and retail wagering amounted to $19.4m.

This was significantly better than last year’s loss of $25.6m in Louisiana. The November 2022 loss was due to US businessman Jim “Mattress Mack” McIngvale winning several large bets on Major League Baseball’s World Series.

November’s revenue total was also 55.2% behind the October 2023 record of $43.3m.

Breaking down revenu..

December 21, 2023

Mississippi sports betting handle hits 11-month high in November

Players in Mississippi wagered $62.4m (£49.4m/€57.0m) on sports in November, the highest amount in the Magnolia State for 11 months, but still lower than the same month last year.

The monthly handle was 15.2% behind the $73.6m wagered in November 2022. However, it was 26.1% ahead of $49.5m in Mississippi in October this year and the highest total since $74.4m was bet in December 2022.

Turning to revenue, this reached $3.1m in Mississippi in November. This was 33.3% behind last year’s $5.1m total and also 53.4% less than $7.3m in October.

Mississippi November: Coastal casinos the venue of choice

mississippi’s sport betting market bounced back after shrinking in october

Breaking down the market, coastal casinos remained most popular for sports betting with consumers in Mississippi. Coastal casinos generated $1.4m in revenue from $43.1m in total bets in November.

Some $1.1m in revenue came from central casinos, which processed a total of $12.0m in bets.

In addition, northern casin..

December 15, 2023

Kansas smashes sports betting handle record in November

Kansas set a new sports betting handle record for the third consecutive month in November, with players wagering a total of $260.9m (£204.5m/€237.5m) across online and retail.

The November total surpassed the existing record of $249.7m in October by 4.5%. This was also 40.0% higher than the $186.4m wagered in Kansas in November last year.

Of this total, $251.7m was spent betting online, with the remaining $9.2m wagered at retail sportsbooks across Kansas.

However, record handle was not enough to also push revenue to a record high. In November, sports betting revenue in Kansas hit $8.9m. This was 38.2% behind October’s $14.4m record but 11.3% ahead of $8.0m in November 2022.

Online sports wagering accounted for $8.2m of total revenue in Kansas. A further $753,778 came from betting at retail sportsbooks.

Boot Hill and Kansas handle surpasses $100.0m

Breaking down the market, Boot Hill Casino and DraftKings remained the clear leaders in the online sector in Kansas. The partnership h..

December 14, 2023

Indiana sports betting handle hits record $513.7m in November

Players in Indiana spent $513.7m (£406.6m/€471.8m) betting on sports in November, a new monthly record for the Hoosier State.

The November total edged out the existing Indiana record of $500.1m set in January 2022 by 2.7%. This was also up 13.6% from $452.3m in November 2022 and 19.6% higher than $429.7m in October this year.

Basketball drew the most wagers at $145.7m, helped by the start of the new NBA season in late October.

American football bets hit $136.9m and baseball $1.1m. A further $169.8m was spent on parlay bets and $59.8m betting on other sports.

In terms of taxable adjusted gross revenue, this reached $30.7m in Indiana in November. This was 23.3% behind $40.0m in the same month last year and 32.1% behind October’s $45.2m haul.

Blue Chip Casino and FanDuel regain the lead in Indiana

Breaking down operator performance, Blue Chip Casino and FanDuel returned to the front of the pack. The partnerships heralded $12.4m in revenue from $176.3m in bets in November.

Amerista..

December 13, 2023

Strikes hit Detroit casino revenue again in November

Worker strikes across the Detroit land-based gambling sector hit casinos again in November, with revenue in the Michigan city falling 22.3% year-on-year to $79.1m (£63.1m/€73.3m).

Revenue from the city’s three land-based commercial casinos was down from $101.8m in the same month last year. The November figure was also down 4.5% from the $82.8m that Detroit posted in October this year.

The decline came against a background of strikes in Detroit. Some workers went on strike on 17 October and did not reach an agreement on pay until mid-November. This meant the MGM Grand, Greektown and MotorCity casinos were short of staff for most of the month.

Of all revenue generated by the three casinos, $76.0m came from tables games and slots. This was 23.9% behind last year’s total and 7.0% less than October 2023.

The remaining $3.1m in revenue was attributed to sports betting qualified adjusted gross receipts (QAGR). This was 63.2% higher than November 2022 and 181.8% ahead of October this year…

December 13, 2023

Fanatics soft launches sports betting in Connecticut

The Fanatics Betting and Gaming (FBG) subsidiary of Fanatics has announced the soft launch of online and retail sports wagering in Connecticut.

This week, the Fanatics Sportsbook will accept 2,000 online players in the state. A full launch will follow in Connecticut from 18 December.

Players in Connecticut can download the Fanatics Sportsbook to wager online. Consumers can also visit any of 10 retail sports betting locations to bet in person.

The soft launch comes less than two weeks after FBG was named as the new sports betting partner of the Connecticut Lottery Corporation (CLC).

This agreement designates Fanatics Sportsbook as the Connecticut Lottery’s exclusive sports betting partner across mobile and retail betting. The transition had been expected to occur in mid-December.

Fanatics replaces Rush Street Interactive in Connecticut

FBG takes the place of Rush Street Interactive (RSI), the Connecticut Lottery’s former sports betting partner. The two parties announced that they..

December 13, 2023

Colorado sports betting handle tops $554m in October

Players in Colorado spent $554.9m (£442.9m/€514.5m) betting on sports in October, with online wagering accounting for more than $500.0m of this total.

Sports wagering handle in Colorado was 5.4% ahead of $526.6m in October of 2022. The monthly total was also 8.2% more than $512.8m in September this year.

Of the total amount wagered, $550.4m was spent online and $4.4m at retail sportsbooks across the Centennial State.

Turning to gross gaming revenue, Colorado operators generated $46.9m in October. This was 28.5% higher than $36.5m last year and also 3.5% ahead of September’s $45.3m total.

Online betting generated $47.0m in revenue but a $90,005 loss from retail pushed the total figure down slightly.

American football drew the most bets, with players wagering $185.2m across online and retail. Basketball followed with a handle of $63.4m, then college football on $51.8m.

Other stand-out sports in Colorado included baseball with $38.3m in bets and tennis with $32.9m. Meanwhile, parla..

December 12, 2023

Sportradar scores global tennis data and streaming deal with ATP

Sportradar has agreed a global data and streaming rights deal with Tennis Data Innovations (TDI), a joint venture vehicle of the Association of Tennis Professionals (ATP) and ATP Media.

The multi-year deal grants Sportradar data and streaming rights for betting, as well as media data rights. The agreement covers all tennis events on both the ATP Tour and ATP Challenger Tour.

Sportradar said the partnership will focus on driving commercial growth for tennis and also improving fan engagement opportunities. This will include developing new betting and media products.

From this month, Sportradar will use its ATP Service+ suite of solutions to boost engagement with fans by providing value-added products and services. Features in ATP Service+ include augmented streaming, expanded in-play betting markets, video highlights and personalised and targeted betting products.

Sportradar will also work with TDI to create products for media. These, it said, will showcase more in-depth statistical..

December 12, 2023

Iowa sports betting handle rises again in November

Players in Iowa wagered $289.7m (£230.5m/€268.8m) on sports during November, up 17.1% on last year and the highest monthly total since January 2022.

The monthly Iowa handle was higher than $247.5m in November 2022 and 13.5% ahead of $255.3m in October this year.

The total was also the most spent since a record $303.3m was wagered in January 2022, some 22 months ago.

Breaking this down, some $265.8m was spent betting with online operators and $23.9m at retail sportsbooks across Iowa.

As for revenue, operators generated a total of $14.1m in November. This was 143.1% higher than $5.8m last year, although the November 2022 figures were hit by multi-million-dollar winning bet payouts to US businessman Jim “Mattress Mack” McIngvale.

However, the November revenue figure in Iowa was 33.5% behind the $21.2m generated in October this year. This was due to consumers winning significantly more in November ($275.6m) compared to October ($225.3m).

Of the revenue total, $12.6m came from online ..

December 12, 2023

Kentucky online sports wagers reach $323.6m in opening weeks

Consumers in Kentucky spent $323.6m (£257.2m/€300.2m) betting on sports online during the opening weeks of the Bluegrass State’s newly regulated market.

Kentucky launched legal online sports betting on 28 September. This followed the roll out of retail wagering on 7 September, with online delayed as part of a staggered launch.

The Kentucky Horse Racing Commission (KHRC) has now published figures for the opening weeks of the market. This data covers the final three days of September and the whole of October.

During this period, online bets amounted to $323.6m. This included $36.8m across the three days of September and $286.8m in October.

Adjusted gross revenue from online betting for the period reached $54.2m. Some $1.5m was generated in the final days of September, while revenue in October hit $52.7m.

FanDuel edges out DraftKings in Kentucky

Looking at individual operators, FanDuel led the way in the opening period. Partnered with Churchill Downs, FanDuel took $20.3m in revenue ..

December 6, 2023

Amendments submitted for California sports betting ballot

Eagle1 Acquisitions Corp, the group of backers for a proposition to legalise sports betting in California, has made several amendments to its ballot initiative in an effort to gain further tribal support.

Tabled in October, the Sports Wagering Regulation and Tribal Gaming Protection Act, would allow for legal betting. If approved, the ballot would amend Article IV, section 19 of the California constitution. This will grant tribes exclusive rights to offer retail and online betting.

The initial version of the ballot set out several measures. These included tribes submitting 15% of adjusted sports betting gross gaming revenue into a tribal wagering revenue sharing trust fund.

Tribes would also contribute 10% of their adjusted sports wagering GGR into the California homelessness and mental health fund. It was also stated that tribes would need to partner sports betting operators, which would operate as vendors. These will require approval from both the Tribal Gaming Agency and Califor..

December 4, 2023

Rhode Island betting handle and revenue reach 10-month high in October

Sports betting handle and revenue in Rhode Island hit a 10-month high in October, although the Ocean State reported year-on-year declines across both.

Rhode Island players spent a total of $45.8m (£36.1m/€42.2m) betting on sports in October. This was down 25.2% from $61.2m in October 2022 but 21.8% more than September this year.

It was also the highest monthly total since a record $62.3m was bet in January 2023.

Of this total, $36.4m was wagered online and $9.5m at retail sportsbooks. This includes $6.3m at Twin River and $3.2m at Tiverton Casino.

Rhode Island revenue slips year-on-year

Turning to revenue and it was a similar year-on-year story for Rhode Island. The $4.5m posted in October was 8.2% less than $4.9m in the same month last year but 28.6% more than $3.5m in September.

It was also noted that the October figure was the second highest of the calendar year. The $5.2m generated in January is the only higher monthly figure so far in 2023.

Mobile betting accounted for $3..

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Tag: Retail sports betting