Sports betting – Page 119

October 25, 2022

Turnover up but gross win down for PointsBet in Q1 2023

PointsBet’s turnover in the first quarter of 2023 rose by 18.0% year-on-year to AU$1.15bn (£1.02bn/€1.17bn), yet its gross win was down by AUS$2.0m.

The results came as the business also revealed a change in US strategy to focus less on casual customers and more on high-volume bettors.

In total, AU$523.8m of the turnover came from US operations. Australia made up AU$611.9m of the turnover, while Canada contributed AU$20.9m.

Gross win, meanwhile, was AU$115.1m, down by 1.7% from AU$117.1m in Q1 2022.

Gross win in the US was AU$40.5m, while in Australia it was AU$73.0m. Canada contributed AU$1.6m to the gross win, after PointsBet launched in Ontario in April of this year.

The total revenue for the quarter – made up of B2B and B2C operations – was AUS$81.5m.

In terms of costs, advertising and marketing made up the highest expense at AUS$54.7m.

However, Aitken said that PointsBet had reduced marketing spend significantly in the first quarter.

“This year we took a measured approach ..

October 25, 2022

American Gaming Association CEO on the rebirth and renewal of US gambling

Bill Miller could argue that his tenure has seen the most transformative period for the gaming industry since the American Gaming Association was established in 1995. He talks to Robin Harrison about sports betting, gaming expansion, Covid-19, safer gambling and the illegal market in this exclusive interview.

When Bill Miller took charge of the American Gaming Association (AGA) in January 2019, the US commercial gaming industry was poised for a period of explosive growth.

Legal sports betting, thanks to the repeal of the Professional and Amateur Sports Protection Act (PASPA), was rapidly spreading across the US.

The industry as a whole posted its fifth consecutive year of revenue growth for that year, with 2019’s total breaking records at $43.6bn.

The industry generated $10.2bn in gaming taxes for state and local governments with 21 of 25 commercial gaming states posting year-on-year revenue growth. This sum covers annual education costs for 832,000 elementary and secondary scho..

October 24, 2022

Kindred expands in US with Unibet tribal launch in Washington

Kindred Group is to launch its Unibet brand in the state of Washington through a partnership with the Swinomish tribe and its Swinomish Casino and Lodge in Anacortes.

Under the deal, which will run for six years and include a five-year right to extend, Kindred and Swinomish will launch a co-branded Unibet and Swinomish retail sportsbook at the land-based casino.

Online betting is currently not legal in Washington, with the exception of mobile-on-property betting while at land-based casinos.

The launch is subject to licensure and regulatory approvals and would mark the seventh US state in which Unibet is offering sports betting.

“We are very excited to expand our footprint in the US, and to do so together with the Swinomish tribe,” Kindred senior vice-president for North America, Manuel Stan, said. “The opening of a sportsbook lounge at the Swinomish Casino and Lodge will allow us to offer best in class sports betting experiences.”

Kindred added that it would continue to invest in ..

October 24, 2022

Arizona sports betting handle reaches $361.0m in August

Player spending on sports betting in Arizona jumped 24.3% month-on-month to $361.0m (£319.3m/€367.6m) in August, while revenue in the state also increased.

Sports wagering handle was ahead of $290.5m in July and also represented the second consecutive month of growth in the state. Some $359.2m was wagered online, with just $1.5m spent at retail sportsbooks.

Players won $323.8m from sports betting in August, leaving $36.3m in revenue for the month, up 65.0% from $22.0m in July.

After accounting for $8.5m in free bets and promotional credits, taxable revenue for the month was $27.8m, an increase of 85.3% from $27.8m in the previous month.

DraftKings led the market in terms of handle, processing $129.8m in bets, all of which were placed online. FanDuel was second with $109.7m in total bets, split $108.7m online and $1.0m at retail locations, then BetMGM on $58.2m in online wagers.

Turning to gross revenue and FanDuel narrowly claimed top spot with $11.7m. DraftKings was second with $..

October 24, 2022

ATG warns over impact of “global economic challenges”

Sweden’s former horse racing monopoly ATG said net gaming revenue was broadly level year-on-year during the first three quarters of its 2022 financial year, despite the impact of global economic challenges.

Total revenue for the nine months through to the end of September amounted to SEK3.9bn (£305.9m/€352.6m/$346.9m), a decrease of less than 1% on the same period last year.

ATG said that while the effects of the pandemic had continued to die down during the nine months, the business now faces wider challenges in the impact of the war in Ukraine and also global economic issues due to high inflation and the potential for an impending recession.

Chief financial officer Lotta Nilsson Viitala said it was difficult to estimate how much both of these factors would hit ATG, but admitted that the business would be impacted.

“We see tendencies towards our customers having less money left in the entertainment wallet,” Viitala said. “It is completely natural with the price increases and inte..

October 24, 2022

Online slots boost German gambling tax revenue to €596.1m in Q3

German gambling tax revenue came to €596.1m in the third quarter of 2022, a year-on-year increase driven mostly by growth of online slots.

The total German gambling tax take was up by 15.5% year-on-year.

Of this total, €123.2m came from online slots. This was up drastically from Q3 of 2021, when operators paid only €32.7m in taxes during the first quarter under Germany’s new Fourth State Treaty on Gambling.

As part of the new regime, online slot operators must pay 5.3% of stakes in taxes, which has been a major source of controversy.

Only a small number of operators were licensed to offer online slots in Germany in Q3, but a transition period is in place which means that operators will not face enforcement action as long as they keep to the rules of the State Treaty and pay gambling taxes.

Online poker tax income was €8.0m, slightly more than double the total from a year earlier. Like slots, online poker is also subject to a 5.3% tax on stakes, and – with no licensees yet – the en..

October 21, 2022

A natural evolution for player props

It makes sense that increased availability of player prop bets and integration of insights into betting would converge. Daniel O’Boyle speaks to Henry Newman, CEO of Sporting Risk, about his business’ combined pricing and facts tool for player props.

Two rising forces in sports betting lately have been – in terms of purely trading and markets – an effort to include more player proposition bets and, from a more user-experience-led perspective, a greater effort to integrate insights into the product.

So it only makes sense that these two products would converge.

Henry Newman, CEO, Sporting Risk

Still, it may be surprising to see who has brought a product combining player prop trading and facts for consumers to market first. It wasn’t from one of the data giants or a widely known sportsbook provider, though it was from a group that has made its living from bookmakers for some time.

Henry Newman, chief executive of Sporting Risk, notes that his company’s history in running a successfu..

October 21, 2022

Great Canadian to launch sportsbooks at its casinos with Kambi deal

Land-based gaming and entertainment company Great Canadian Entertainment is set to launch sports betting at its venues, thanks to a new deal with Kambi.

As part of the deal, Kambi will provide its retail sportsbook product to ten of Great Canadian Entertainment’s Ontario-based casinos.

This includes Kambi’s sportsbook solution, as well as betting kiosks.

Read the full story on iGB North America

October 21, 2022

Initial 29 applicants register interest in Massachusetts sports betting licences

The Massachusetts Gaming Commission (MGC) has revealed 29 potential applicants have registered an interest in securing new sports betting licences in the US state.

On 7 October the state’s regulator released a scoping survey, a required prerequisite of a sports wagering operator application in Massachusetts. Parties interested in applying were required to submit the survey by 17 October so that the MGC could begin reviewing those that plan to apply.

The MGC said that it received 29 operators scoping surveys from potential applicants for Category 1, 2 and 3 Sports Wagering Licences by the deadline. Three were in relation to Category 1 Licences, three from parties interested in Category 2 Licences, and 23 came from potential Category 3 Licence applicants.

Read the full story on iGB North America

October 21, 2022

Belgium’s €200 loss limit comes into force

Belgium’s new €200 weekly loss limit has officially come into effect, three months after a royal decree on the subject was published.

The lower limit was announced in July by a royal decree, having been put forward by minister of justice Vincent Van Quickenborne.

Previously, net deposits were limited to €500 per week, after an April 2020 decree.

The limit will continue to apply on a per-site basis, after attempts to introduce a “global” limit – to apply across all operators – fell through.

Players may request to have their limit raised, but only if they are not registered as defaulters with the Central Individual Credit Register of the National Bank.

“It is always possible for players to request a lower personal limit from the operators,” the Belgian Gaming Commission said. “To keep gambling fun, it is recommended to spend no more than 5% of income on gambling.”

Belgium is also hoping to implement a complete ban on all non-lottery gambling ads, a measure that has been the source ..

October 21, 2022

UFC bans fighters from betting on matches

Mixed martial arts (MMA) series the Ultimate Fighting Championship (UFC) has amended its rules and regulations to ban fighters from betting on UFC fights.

Fighters will be prohibited from placing bets on any UFC match, including those in which they are competing. This applies to athletes wagering directly or through a third party.

The UFC noted that most states in the US already have a ban in place on UFC fighters betting on official UFC matches, with any breaches of this rule being deemed illegal and may result in some form of criminal sanction.

In the majority of states, this ban extends to some or all relatives living in the same household as an athlete, as well as an athlete’s coaches, managers, handlers, athletic trainers, medical professionals and staff, or any other person with access to non-public information regarding the UFC.

In addition, the UFC’s rules and regulations now read that any athlete who becomes aware or has knowledge of any breach of its rules should reportin..

October 20, 2022

Gibraltar to replace one-size-fits-all licence fees with tiered system

Gibraltar is set to implement a new, tiered system for gambling licence fees, meaning that larger operators will pay more and smaller ones less, as part of a package of reforms for the point-of-supply market.

The British Overseas Territory launched a consultation on new licence fees, following its earlier proposal for a new Gambling Act.

Previously, operators of remote betting, remote gaming, other remote products, land-based gaming and retail betting each had to pay a £100,000 licence fee every year. B2B suppliers, meanwhile, were required to pay an £85,000 annual fee.

However, in its consultation, the government said that “licensing fees for startup operators and small operators who are building for growth can be a disproportionate cost in the early stages of the life cycle of the business”.

As a result, it opted for a new, tiered system for remote betting and gaming licences, based on annual gross gambling yield (GGY).

As operators need to apply for a separate licence for each..

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Tag: Sports betting