Retail sports betting – Page 5

September 5, 2024

Ohio: FanDuel continues to hold off DraftKings in wagering revenue in July

FanDuel retained the top spot in the Ohio online sports betting market in July, while the state saw revenue increase month-on-month despite handle falling to a year-low for the second consecutive month.
Players wagered $476.9m (£362.2m/€429.6m) across online and retail sports betting in July. This is 44.0% more than in Ohio last year but 10.0% lower than the previous 2024 low of $529.8m in June.

Figures reported by the Ohio Casino Control Commission show $466.6m was bet online and $10.2m at retail sportsbooks. Operators recorded a double-digit hold approaching 12%, marking the fourth time this year that operators had hold above 10%.

As for total taxable revenue, this totalled $55.3m, up 48.7% from June and also 8.0% higher than July last year. Operators paid the state about $11.1m in taxes on a 20% tax rate. Online revenue for the month topped $53.5m and retail revenue was $1.6m.

July’s total means total revenue year-to-date – covering the seven months to the end of July – is $49..

August 21, 2024

Sports betting and igaming continue to offset Pennsylvania retail decline in July

Pennsylvania posted further year-on-year declines in land-based gambling revenue in July, although the state saw total market revenue increase on the back of ongoing growth across igaming and sports betting.
Revenue from gambling in Pennsylvania in July hit $500.8m (£384.2m/€450.2m), according to the state’s Gaming Control Board. This is 7.2% higher than last year and also 6.1% more than $472.0m in June this year.

Despite revenue from retail slots declining 4.8% year-on-year to $204.3m, this remains the biggest source of gambling revenue in Pennsylvania. Land-based table revenue also fell 4.8% to $79.4m but still ranked third in terms of total revenue generated.

Igaming revenue tops $174.3m in July
Turning to online gambling, there is seemingly no stopping growth within the igaming sector in Pennsylvania. For July, total revenue from igaming was $174.3m, a rise of 31.2% from last year.

Of this total, $125.4m came from online slots, up 32.2%. Internet table games revenue was also up ..

August 21, 2024

Michigan online gambling, sports betting AGR up YoY and month over month

Michigan's online gambling industry continues to grow, as July igaming and digital sports betting adjusted gross receipts (AGR) grew a combined 3.2% over June.
In addition, compared to July 2023, online gambling AGR was up 24.7% and sports betting was up 5.2%, according to the Michigan Gaming Control Board (MGCB), which released results on Tuesday (20 August).

But the big news was wagering hold. Digital sports betting operators recorded an 11.3% win rate in July, the fourth consecutive month of double-digit hold, according to the Sports Handle revenue database. That’s the second-highest hold since digital operators went live in January 2021.

The operators’ most successful month for hold was September 2022 – the second football season during which digital betting was live. That month, operators kept 13.15% of handle.

Overall, Michigan online gambling commercial and tribal operators reported a combined $220.9m (£169.4m/€198.4m) in gross receipts. Michigan has three land-based ..

August 19, 2024

US July round-up: sports betting growth in Louisiana, Kansas and Vermont

Rounding up some of the latest state monthly sports betting reports in the US, iGB looks at year-on-year revenue growth in Louisiana and Kansas and month-on-month improvement in Vermont during July.
Summer lull hits Louisiana sports betting in July
Starting in Louisiana, total handle in the state hit $184.5m, up 37.0% from last year but 13.0% less than June. Online accounted for $172.3m of all wagers, a rise of 40.6%, with retail bets level at $12.3m.

Thanks to a 13% hold, revenue climbed 36.4% year-on-year to $24m (£18.5m/€21.8m). However this is 8.4% lower than June’s total, according to the Louisiana Gaming Control Board.

Of all revenue, $22.5m came from online betting, a 43.1% increase from last year. However, retail wagering revenue slipped 17.9% year-on-year to $1.6m, a 12.7% hold.

Parlay betting was the main source of revenue for Louisiana sportsbooks. For June, revenue from online parlay bets hit $14.7m and $737,540 from retail wagers. In terms of individual sports, basebal..

August 19, 2024

New Jersey: Sports betting and igaming growth offset land-based decline in July

Year-on-year growth across sports wagering and igaming in New Jersey offset a 6.1% decline in revenue from the Garden State’s land-based market during July.
Total market revenue in July amounted to $547.8m (£423.4m/€496.7m) according to New Jersey Division of Gaming Enforcement figures. This is 8.2% more than $506.2m in New Jersey last year and also 11.6% more than June this year.

Despite the year-on-year decline, land-based gambling remains the main source of revenue. In July, land-based revenue topped $272.3m, down from $290.0m last year. Of this, $207.3m came from slots, a drop of 4.8%, while table games revenue also fell 10.0% to $65.0m.

How far is igaming from overtaking land-based in New Jersey?
The decline in land-based revenue begs the question: could it be surpassed by igaming? For July, igaming revenue hit $195.4m, a 25.9% increase from the same month last year.

Of all igaming revenue, $192.8m was attributed to slots and table games, an increase of 26.4%. The remaining $2…

August 16, 2024

Massachusetts operators hold 10.3% as Bally Bet makes debut

Massachusetts sportsbook operators were the winners in July, according to the Massachusetts Gaming Commission revenue report released on Thursday (15 August).
The state’s seven mobile operators and three retail operators combined for a 10.3% hold and handle was up significantly over July 2024.

Bally Bet, BetMGM, Caesars Sportsbook, DraftKings, ESPN Bet, Fanatics Sportsbook and FanDuel took a combined $405.3m (£315.3/€369.3m) in wagers compared to $294.9m in July 2023. Massachusetts’ handle was down against June’s $509.3m. Four digital operators recorded hold of over 10%.

Massachusetts operators paid more than $8m to the state in taxes.

Boston-based DraftKings retained its spot as the market-share leader, taking $202m in wagers, holding 10.3% and recording adjusted gross revenue (AGR) of $20.9m. FanDuel was second with $119.9m in handle and a hold of 10.97%.

Bally Bet had lowest hold of all operators
Massachusetts was back up to seven operators for July, after Bally Bet launched o..

August 13, 2024

North Carolina handle lowest since March launch; Indiana records another high hold

Sports betting handle in North Carolina fell for the fourth consecutive month in July, although revenue increased for operators in the Tar Heel state thanks to an improved hold.
Total handle for July was $340.4m (£266.6m/€311.4m), down 14.5% from June. It is also the lowest monthly total since North Carolina launched legal online sports betting in March.

July is traditionally a quieter month in the US sports betting calendar and, while the MLB season is underway, North Carolina doesn’t have a team in the league.

There were only three major sporting events taking place in July. Wimbledon from 1-14 July, and the Copa América concluded on 14 July – with matches played at the Bank of America Stadium in Charlotte, North Carolina – and the Olympics started at the tail end of the month.

Stronger hold grows North Carolina sports betting revenue
During the month players wagered $328m with North Carolina sports betting operators, who handed out a further $12.4m in promotional credits. Playe..

August 12, 2024

Illinois $1bn handle streak ends in June as player stakes drop to $848.1m

Illinois sports betting handle for June was up 27.4% year-on-year to $848.1m (£665.2m/€777.3m), although amounts wagered came in below $1bn after a nine-month run.
Illinois Gaming Board figures show sports betting handle up compared to the prior year, but falling 16.9% from the $1.02bn wagered in May 2024, in the last month before the state’s new progressive tax rate comes into effect.

The vast majority – $823.7m – of this total was staked online, with $24.4m bet in-person.

Bets placed on professional sports in June amounted to $839.6m, with $815.5m online and $24.2m at retail locations. A further $7.2m was bet across online and retail on college sports, while motor racing drew $1.3m in bets.

DraftKings adjustment accelerates Illinois sports betting revenue growth
Looking to adjusted gross revenue from sports betting during June, this reached $94.6m due to a $9.1m adjustment to DraftKings’ revenue for the month, with little additional context provided. This means AGR is 72.9% highe..

August 12, 2024

US July sports betting round-up: Iowa, Maine, Maryland, Tennessee

Rounding up some of the latest monthly sports betting figures in the US, iGB takes a look at how Iowa, Maine, Maryland and Tennessee fared in July.
Jump to:
Iowa sports betting revenue up thanks to improved hold

Parlays rule the roost in Maryland

Maine reports second-highest sports betting handle in July

Lowest handle of the year in Tennessee

Iowa Racing and Gaming Commission figures show monthly handle topped $138.1m (£108.1m/€126.4m) in July, 25.9% up year-on-year but 5.9% behind June 2024. Online betting accounted for $130.6m of all bets with retail at $7.5m.

An improved hold of 10.1% meant revenue grew strongly, up 31.1% from July 2023 at $13.9m. This also marked an 11.2% improvement on June 2024’s $12.5m revenue, when hold averaged 8.5%.

Looking at revenue by operator, DraftKings remained the market leader in July with $53m wagered and $4.8m in revenue, a 9% hold. FanDuel, on the other hand, saw stakes decline to $31.7m, although a strong 12.6% hold reduced the revenue decl..

August 2, 2024

State of the Union: Olympics betting, Texas legalisation talk, Ontario’s latest idea

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.
Here’s where Olympic betting is highest in US
According to a Forbes report, bettors in Maine, Massachusetts, New York, North Carolina and Pennsylvania have a high interest in betting on the Olympics. Why? Per the story, a heavy interest in basketball – particularly the Celtics in Maine and Massachusetts and college basketball in North Carolina – is one driver.

Another is the number of athletes representing a state in Paris. Of the 592 athletes representing the US at the Olympics, which runs through 11 August, 143 are from California. The state with the next highest is Florida with 50, followed by Texas with 43. Of the three states, only Florida has legal sports betting. There are 31 athletes from New York competing and 20 from Pennsylvania.

Bettors in Massachusetts can bet on the Olympics, but not on judged..

August 1, 2024

Ohio: FanDuel passes DraftKings to retake the lead in June

Flutter Entertainment’s FanDuel retook the lead in the Ohio online sports betting market in June, a month in which statewide revenue and handle fell to a calendar-year low.
Players in Ohio spent a total of $529.8m (£413.6m/€490.7m) across online and retail during June. This is 46.4% ahead of last year but 13.4% behind May and lower than any month so far in 2024.

Online betting accounted for $516.1m of all bets in June, with retail contributing $13.7m.

Players won $473.6m while $5m worth of wagers were voided. This left $51.2m in gross gaming revenue, up 57.1% from last year but 24% less than May’s total.

Of all gross gaming revenue in June, $50.5m came from online betting and $724,376 retail sportsbooks.

June’s results mean for the year-to-date, gross gaming revenue in Ohio stands at $435.6m. This includes $428.5m from the online market and $7.1m the retail sector.

FanDuel leads the Ohio pack in June
Looking at individual operators, FanDuel recovered from its second-placed finish ..

August 1, 2024

UKGC data: Record quarter for online gambling activity in Britain

Great Britain’s online gross gambling yield (GGY) increased by 12% year-on-year to £1.46bn (€1.73bn/$1.87bn) in Q2, with the total number of bets and spins reaching a record high for the second consecutive quarter.
Players in Britain placed 24.5 billion bets and spins in Q2 (April to June), representing an increase of 11% on last year and a new quarterly record since the UKGC began publishing player data in 2019.

Breaking down the UKGC data, online slots were the primary source of GGY at £642m, noting a rise of 10% from last year. May proved the busiest month for online slots gaming with GGY hitting £217.9m.

Consumers placed a total of 22.4 billion spins during the quarter, which is up 12% on last year. However, slot session length was marginally shorter at 17 minutes, compared to just under 18 minutes in the previous year.

As for how many people were playing online slots, total active players in this segment hit 13.3 million for the period. This represents a year-on-year increase..

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Tag: Retail sports betting