Sports betting – Page 118

January 13, 2023

New York bill would require warning in gambling ads

The state of New York has proposed a bill to amend the racing, pari-mutuel wagering and breeding law, to require all advertisements for gambling and sports betting to include warnings on the potential harm of gambling.

The bill, introduced into the State Senate by Democratic senators Leroy Comrie and Luis R Sepúlveda, has not yet been voted on.

Specifically, the amendment “requires all advertisements for gambling and sports betting to include warnings about the potential harmful and addictive effects of gambling; requires the state gaming commission to cooperate with the commissioner of addiction services and supports to ensure that all advertisements for gaming activity state a problem gambling hotline number”.

The amendment also proposes to include mobile sports wagering licences into the advertisement requirement.

If the motion passes, it will take effect sixteen days after it becomes a law.

Ohio marketing violations

As part of its regulations when it legalised sports bett..

January 12, 2023

WagerWire partners with “bet on anything” supplier Sparket to resell bets

Sports betting marketplace WagerWire has partnered with B2B “bet on anything” platform Sparket, to create a secondary market for bets created through Sparket.

Players will be able to buy and sell Sparket bets both on the websites of operators that partner with Sparket and on the WagerWire mobile app when it launches early this year.

Markets available on Sparket include the next state to legalise sports betting and who will be thanked first in the host intro of Saturday Night Live.

Sparket CEO Aaron Basch noted that the deal would allow for in-play betting for events traded on Sparket for the first time.

“Combining forces with WagerWire creates powerful possibilities for our users,” he said. “The ability to flip in and out of bets gives our users more power and freedom over their wagers. For the first time in history, pari-mutuel markets will now become tradable after the event begins and the windows are closed.

“This enhanced user experience takes Sparket to the next level and is..

January 12, 2023

Gaming Society and UNLV partner for research into women’s sports and betting

Betting education platform Gaming Society and the International Gaming Institute (IGI), a nonprofit academic centre at the University of Nevada, Las Vegas (UNLV) have partnered to conduct research into female sports and betting as well as collaborate on educational development.

The aim of the research is to better understand female sports bettors, women’s sports fans’ attitudes on betting and industry investment in sponsorship of women’s sports.

IGI and Gaming Society will focus on collecting and analysing wide ranges of data in the sports betting, technology and media sector.

“Market research and data on fan behaviour is critical in driving future innovation within the sports betting industry,” Gaming Society co-founder Jaymee Messler said. “Over the past year, Gaming Society has partnered with leading leagues and brands to make sports betting more inclusive and deepen fan engagement, with particular focus on women bettors and women’s sport.”

Additional collaboration between th..

January 12, 2023

Super Group approves $25m share repurchase

Betway parent company Super Group announced that its board of directors has approved a $25m (£20.5m/€23.2m) share repurchase scheme.

Super Group said the scheme is set to run until 31 December 2023, though the board reserved the right to extend or shorten the timeframe at their discretion.

The operator also emphasised that the announcement did not legally bind it in any way – noting that Super Group was “not obligated” to repurchase any shares, and that repurchases if any would be made from time to time on the open market at prevailing prices or “in negotiated transactions off the market”.

“Our debt-free balance sheet is strong and we actively consider using cash to drive long-term shareholder value through investment and through returning cash to shareholders,” said CFO Alinda van Wyk. “We believe a modest share repurchase programme is an efficient potential use of cash depending on market circumstances.”

The share repurchase scheme happens after a fraught Q3, in which declines in..

January 12, 2023

Bet365 partners with Cleveland Guardians in US expansion

UK-based global betting brand Bet365 has partnered with Ohio-based MLB team the Cleveland Guardians.

Ohio – where sports betting launched on 1 January – is the third US state in which Bet365 is live, following New Jersey and Colorado.

The partnership lands as the Guardians bid to retain the American League (AL) Central title, which was the franchise’s first since 2018.

Ted Baugh, the Guardians’ vice-president of corporate and premium partnerships, said: “We’re very excited to work with Bet365 as our exclusive mobile sports betting partner and welcome them to the State of Ohio.

“There is a tremendous bond between our organisation and Bet365. With nearly 90 million customers registered worldwide, Bet365 is one of the world’s leaders in online gambling and will provide our fans a trusted source to complement our organisation’s success on and off the field.”

The Guardians annual “Guards Fest”, which runs on 21 January for the first time after a two-year pause, will mark the beginn..

January 12, 2023

Catena earns record revenue from Ohio sports betting launch

Catena Media said it recorded its strongest-ever start for a US state launch of licensed online sports betting.

The Malta-based affiliate revealed that according to its preliminary data, new registrations in Ohio have led to engagement levels that surpass its launch in New York in 2022.

“This is without doubt our strongest state sports betting launch period to date,” said Ryan Harper, vice-president of Catena Media North America.

“We’re delighted to see strong traffic on our websites in relation to the Ohio launch. Player engagement in licensed sports betting has been very solid.”

Catena operates in Ohio through its national brands including Legalsportsreport.com, Gamingtoday.com, Thelines.com and Lineups.com, as well as through strong regional websites such as Playohio.com.

Operating in over 20 regulated states and provinces in North America, Catena recorded revenue of €80m (£71m/$86m) in the 12 months to September 2022, representing a growth of 33% from 2021.

Ohio launches spor..

January 12, 2023

Entain completes €450m BetCity acquisition

Entain has completed the €450m (£398.1m/$484.2m) acquisition of Dutch operator BetCity from Sports Entertainment Media.

The deal grants Entain access to the Dutch regulated market, where BetCity was one of the initial 10 licensees and quickly became a market leader after the market launched on 1 October 2021, holding a 20% market share in Q4 of 2021.

Entain’s brands had not been able to launch in the Nertherlands as part of the initial batch of licensees due to the country’s “cooling-off” period for operators that accepted Dutch customers before the market opened.

While this period ended last year, and Entain had initially expected its legacy brands to receive licences in 2022, this has not yet happened.

“We are pleased to have completed the acquisition of BetCity,” Entain chief executive Jette Nygaar-Andersen said. “The combination of BetCity’s local expertise and strong brand, alongside Entain’s global scale and market-leading platform provides customers with an enriched and broa..

January 12, 2023

Stats Perform scores streaming and data deal for Australian Open

Stats Perform has agreed a deal with Tennis Australia to become its exclusive distributor of live video streaming and data to licensed sports betting operators.

The multi-year agreement will cover all Tennis Australia tournaments, including the Australian Open and Australian Open Qualifying.

Tennis Australia will also have access to Stats Perform’s media tools including Opta Facts, PressBox Graphics and news services, while the Stats Perform Integrity division will work with forces with Tennis Australia’s in-house Integrity Unit to monitor all matches.

This will include Stats Perform Integrity’s core services on competition and match integrity risk management, as well as monitoring, intelligence and analysis of global markets, and performance analysis and investigation of any suspected match manipulation.

“Stats Perform has a reputation for trust and innovation, making them a clear choice and providing more opportunities for us to reach and engage with our fans,” Tennis Australia..

January 11, 2023

Detroit casinos post gaming and sports betting revenue drops in 2022

Detroit’s three land-based commercial casinos reported a year-on-year decline in gaming revenue for 2022, with revenue down across both slots and tables games and sports betting.

Revenue for the 12 months to 31 December 2022 was $1.28bn, down 1.4% from $1.29bn in the previous year. Slots were responsible for $983.7m of total revenue, representing 77% of the market, then table games with $273.3m (21%) and sports betting at $18.8m (2%).

Analysing the performance by market sector, combined slots and table games revenue fell by 0.8% year-on-year to $1.26bn.

Read the full story on iGB North America

January 11, 2023

Virginia bill introduced capping tax deductions for bonuses

A bill has been introduced in the Virginia Senate limiting tax deductions for bonuses and promotions.

Senate Bill 1142 – introduced by Democratic state senator Jeremy McPike – would amend the existing code of Virginia definition of adjusted gross revenue. Under current law, “adjusted gross revenue” means gross revenue minus four specified deductions.

The proposed amendment would change the first deduction which allows for allows for operators to deduct all bonuses and promotions from gross revenue. It would seek to impose a cap on the amount that can be claimed beginning at 2.5% of the total wagered by the player in 2023-24, lowering to 1.75% by 2026.

This would have the effect of potentially raising the tax burden on sports betting operators in Virginia, since it is adjusted gross revenue, not gross revenue which is subject to the state’s 15% gaming tax.

Read the full story on iGB North America

January 11, 2023

Elys Game Technology joins US Integrity

Global interactive gaming and sports betting technology company Elys Game Technology has partnered up with US Integrity (USI) as it expands in North America.

USI will provide event monitoring, market intelligence and fraud prevention for all of Elys’ growing US facing operations, including Nevada-based USBookmaking, which it acquired in 2021.

In the US, Elys’ focus is to provide end-to-end sportsbook services to business operators across the regulated market. The news of this partnership follows the recent announcement that Elys secured a licence in Ohio’s newly legal sports betting market.

USI’s integrity monitoring services from its proprietary dashboard to Elys Game Technology conducts analysis across dozens of data sets to identify any possible irregular sports wagering-related patterns.

Michele Ciavarella, executive chairman of Elys, said the partnership will help the business detect suspicious betting.

“We are very pleased to be engaged with US Integrity as we prepare to ..

January 11, 2023

Free-to-play comes out of real-money betting’s shadow

When online gambling expansion is brought up, discussions are usually limited to sports betting and occasionally online casino. Yet free-to-play games are becoming a key part of the ecosystem, as more than an addendum to real-money betting.

It’s easy to look at the broad spectrum of online gambling expansion and see only sports betting.

After all, it’s the dominant force as far as rapid growth goes, and it’s coming to new states every few months. Maryland launched in November, Ohio on 1 January, and Massachusetts is making real progress.

Meanwhile, daily fantasy sports, fee-to-play sportsbooks, and prediction platforms are firmly nestled in the conversation but often buried by talk of real-money sports betting.

Apps like those offered by Tally Technologies and OddFlex—we’ll hear from representatives of both shortly—can offer things a traditional sportsbook cannot. In turn these platforms fill a gap hitherto left gaping by the light-speed spread of real-money betting across US ma..

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Tag: Sports betting