Sports betting – Page 148

July 14, 2022

May was second-best month ever for US commercial gaming

The American Gaming Association (AGA) has reported that US commercial gaming revenue came to $5.03bn (£4.25bn/€5.02bn) in May, the second highest month in industry history.

This was a rise of 7.9% from May 2021, in the earlier stages of recovery from the Covid-19 pandemic.

Slots continued to generate the most gross gaming revenue (GGR) overall, at $2.94bn, down just 0.1% year-on-year.

GGR from table games amounted to $873.9m, a rise of 10.5% year-on-year, while sports betting revenue came to $487.5m- up significantly by 78.2%.

Online gaming revenue also grew, by 30.9% to $406.4m.

For the year to date, total GGR is $24.39bn, up 20.6% from the same period in 2021.

Slots revenue for the year so far increased by 11% to $14.08bn and table games revenue grew by 38.2% to $4.05bn.

Sports betting revenue for the year to date jumped by 73.5% to $2.64bn. Online gaming GGR also grew significantly to $2.03bn, up by 45.6%.

The AGA also noted that March, April and May have been the three mos..

July 13, 2022

BallyBet launches in New York six months after initial approvals

Bally’s has launched its mobile betting product in New York, six months after the market launched and almost nine months after being announced as one of its nine licensees.

The operator was one of nine approved to launch through the state’s tender process, after the state approved two bids which each included a group of operators. The first operators in the state were approved to launch in January, with others following in February.

However, amid competitive marketing and the state’s 51% tax rate, Bally’s chair Soo Kim said the business was waiting until things looked more favourable before it would launch.

Now, though, the business has officially started taking bets in the empire state via its BallyBet sportsbook, powered by the Bet.Works platform it agreed to acquire in 2020.

“We are live and taking bets in the big apple on all the major sports,” Bally’s said. “NY-area sports bettors can now download our app on Android or iOS and start wagering today.”

New York is the sixth stat..

July 13, 2022

Sportradar announces tech and content partnership with Turkish Basketball

Sports data business Sportradar has announced a new multi-year tech and content agreement with the Turkish Basketball Federation (TBF).

Services included in the deal include data collection; a fraud detection system, and the installation of motion-based AI video capture camera technology.

This will be distributed across a number of TBF leagues in 27 venues in the country; betting video content and data will be distributed both domestically and internationally by Sportradar.

The agreement comprises the first-tier Turkish Basketball Super League (BSL), second-tier Turkish Basketball First League (TBL), as well as all cup competitions, which includes the Presidential Cup.

Sportradar head of sport content and partnerships EMEA, Jan Pomme, commented on the deal: “We are delighted to partner with the TBF to deliver advanced data, analytics and technology solutions to further grow the sport of basketball in Turkey and drive new commercial opportunities by introducing Turkish basketball t..

July 13, 2022

IBIA reports 88 suspicious betting alerts in Q2

The International Betting Integrity Association (IBIA) reported 88 suspicious betting alerts in the second quarter, with football the sport of most concern.

Football was responsible for 32 alerts during Q2, ahead of tennis with 27, horse racing on 12 and eight for table tennis. A further four alerts were related to esports, three for basketball and one each for handball and greyhound racing.

The total number of suspicious betting alerts was up significantly from 38 in Q2 of last year.

In terms of location, events in Europe generated the highest number of alerts with a total of 46, with 18 of these for football and 12 for tennis.

The highest number of alerts were registered in Poland, with six alerts being reported in the quarter, all of which were related to table tennis. Denmark placed second with five alerts, all for tennis.

Elsewhere, 18 alerts were raised in Asia, all of which were related to suspicious betting on football. Mongolia topped the list here with four alerts, ahead..

July 13, 2022

Indiana sports betting handle and revenue slip to year-lows in June

The Indiana Gaming Commission (IGC) has revealed monthly sports wagering revenue and handle both fell to year-lows in June.

Player spending on betting in June amounted to $256.3m (£215.4m/€255.4m), up 4.1% from $246.3m in June 2021 but 16.9% lower than $308.4m in May of this year.

Baseball drew the most bets during the month, with consumers wagering $84.6m, while a further $36.4m was spent on basketball betting and $886,991 on soccer. Some $64.4m was attributed to parlay betting and $68.9m other sports.

In terms of taxable adjusted gross revenue from sports betting, this reached $15.8m in June, down 37,8% from $25.4m in June last year and also 48.5% lower than $30.7m in May this year.

FanDuel partner Blue Chip Casino remained the market leaders with $5.5m in revenue from $79.7m in bets, ahead of DraftKings-partnered Ameristar Casino with $3.5m in revenue and a handle of $72.6m.

Belterra Casino and its FanDuel-operated sportsbook followed with revenue of $3.2m off a handle of $33.9..

July 13, 2022

Industry shares resilient amid report of white paper details

Industry share prices rebounded from an initial dip following a report that the new Gambling Act white paper will include a £125 monthly soft cap on affordability – with harder checks for players losing £2,000 in three months.

Industry commentators Earnings + More reported a number of details this morning related to the content of the Gambling Act White Paper.

Industry sources confirmed to iGB it matched up with their understanding of the document.

Perhaps the most significant detail in the report was detail of the affordability checks that operators may be required to perform. Players would be allowed to have a net loss of up to £125 per month or £500 per year before “passive” checks – to see if players have obvious signs of financial difficulties such as county court judgements – kick in.

Those who lose more than £1,000 in 24 hours or £2,000 within 90 days will face “more detailed” checks.

New accounts will face lower thresholds.

Sources raised questions, however, of what the d..

July 12, 2022

California Democrats endorse “no” vote on online betting measure

The California Democratic Party has recommended that those in the state vote against a proposal that would legalise online betting.

The party – which dominates California elections, having controlled both houses of the state legislature since 1996 – announced its official list of endorsements for ballot measures that will appear in the 2022 November election.

That election will include two ballot measures related to sports betting. Tribe-backed Proposition 26, titled the California Legalize Sports Betting on American Lands Initiative. would allow for retail sports betting only on tribal lands.

Read the full story on iGB North America

July 12, 2022

Court unlikely to make decision on Florida sports betting until 2023

The US Court of Appeals for the District of Columbia has set out a timeline for the case that will determine the future of online sports betting in Florida, making it unlikely that any decision will be made until 2023.

The lawsuit – submitted by pari-mutuel operator West Flagler Associates – deals with the question of whether the Seminole Tribe is permitted to offer online sports betting statewide through a new tribal compact that came into effect last year.

The Florida constitution says that an expansion of gambling on non-tribal lands would require a referendum, but the Tribe contends that online bets placed on non-tribal lands would not violate this clause, as they would be accepted via servers in Seminole territory.

Rather than being against the tribe though, the lawsuit is filed against Debra Haaland, Secretary of the United States Department of the Interior, which reviews and approves all tribe-state compacts in the US. As a result, it is being heard in the US Court of Appeals..

July 12, 2022

NFL’s Bengals apply for Ohio betting licence

NFL franchise the Cincinnati Bengals has applied for a sports betting licence in the state of Ohio, as have FanDuel and Fanatics.

The team becomes the fifth business – but the first professional sports team – to apply for an Ohio operator licence. It is the fourth to apply for approval as a type-A sports gaming proprietor – which would allow it to offer an online product – following Jack Cleveland Casino, Thistledown Racino and Hall of Fame Village.

Those other three business all also applied for a type-B licence, which would also allow for operation of a retail betting facility.

Elys Technology, meanwhile, has applied for a type-C licence, allowing for operation of sports betting at a licensed bar.

Read the full story on iGB North America

July 12, 2022

888 raises €700m to pay off William Hill debts

Online gambling operator 888 will raise €700m through a notes issue related to its acquisition of William Hill’s non-US business, despite reports last week that banks had struggled to sell on its debts.

The business will offer €400m worth of notes with an aggregate principal of 7.558%, due in 2027 plus €300m at a floating interest rate, due in 2028.

These notes form part of a wider financing plan as part of the operator’s recent £1.95bn acquisition of William Hill’s non-US business, also including revolving credit facilities and bonds.

These bonds, though, were subject to some uncertainty. 888 had issued the bonds underwritten by banking giants JPMorgan and Morgan Stanley. These banks then intended to sell the bonds onward to investors, but allegedly found little appetite amid ongoing uncertainty related to the Gambling Act review, which is set to have a very large impact on 888 due to its large exposure to Great Britain.

A white paper, a key next stage of the review, was expected ..

July 12, 2022

Creating a market for free-to-play betting

Curating a strong repetoire of free-to-play products could be a valuable way of building an audience, at a time when US sportsbook operators are increasingly looking to differentiate their product ranges. Hussain Naqi of Inside the Pocket tells Marese O’Hagan about why he sees the free-to-play sector as similar to the field of his background: marketing.

Leaning into its name, free-to-play sports betting software platform Inside The Pocket packages its product offering in one compact solution.

Founder and chief executive Hussain Naqi believes this approach offers something unique in the market, as well as providing a range of new content for its clients.

“I would argue that we are distinctly different from the rest of the market, in that through a single integration, we open up an entire market of free-to-play content,” he says. “So we are distinctly different from a specific developer in that, through this one engagement in integration, you can open up an entire arena of products…

July 11, 2022

Dutch minister defends Curaçao reform timeline

Dutch Minister for Legal Protection Franc Weerwind has defended the timeline towards reform of Curaçao’s gambling system, noting the progress the island is making towards implementing the reforms demanded by the Dutch government.

Although the island’s Council of Ministers recently approved new gambling legislation that would drastically overhaul gambling from Curaçao – by replacing the master licence system with a new licensing authority – Weerwind still faced questions on illegal gambling from Curaçao.

The new rules are expected to raise the bar to entry, potentially forcing some operators out of the market, though Finance Minister Javier Silvania said that operators who cannot meet the new standards would not be a great loss.

The questions came just over six months after his predecessor Sander Dekker faced similar questions about the steps the Netherlands was taking to deal with the sector.

In response, Weerwind said that the Dutch government was already working to pressure Curaç..

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Tag: Sports betting