Sports betting – Page 19

June 14, 2024

State of the Union: A look back at the week that was in North America

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.

DC Lottery chief resigns, takes new job in Connecticut

Washington City Paper reporter Alex Koma broke the news that DC Lottery Office of Lottery and Gaming chief Frank Suarez had resigned. Suarez has accepted a similar position with the Connecticut Lottery. The OLG chief has been in the hot seat for months as the DC Council has been considering busting the District’s monopoly. Suarez has undergone intense questioning from council member Kenyan McDuffie.

The CFO's office, which oversees the lottery, tells me Suarez is taking a new job as the head of the Connecticut lottery. He'll leave D.C. officially on July 31. https://t.co/NBvqb64xOW
— Alex Koma (@AlexKomaWCP) June 13, 2024
On Wednesday (12 June), the DC Council voted to advance a budget that includes opening DC’s single-source wagering market. ..

June 14, 2024

Sports Handle report: 59% of sports bettors wager daily, novelty markets enticing new customers

A report on US sports betting habits has revealed that 59% of bettors bet daily and bettors have a preference for betting on point spread.

On Wednesday (12 June), B2B sportsbook provider Betsson, in partnership with GambleID and Sports Handle, released results of a market report. The report revealed that over half of US bettors place daily bets, while 33% of respondents bet on a weekly basis.

Two surveys were carried out as part of the report, issued to operators and “known” sports bettors. Ninety-seven surveys were completed by bettors, 98% of whom were male.

Many of the participants were in the 25-34 and 35-44 age categories, at 30% and 32% respectively.

Five per cent of the sample said they placed bets occasionally, while 2% said they bet monthly.

Contrary to the industry’s belief that bettors are loyal to few apps, the results showed that 43% of players have downloaded more than five apps, while 21% have four to five apps on the go and only 5% are loyal to one product.

When..

June 13, 2024

Crystal Palace and Wolves score Net88 and DEBET as shirt sponsors

Crystal Palace and Wolverhampton Wanderers have become the latest English Premier League football clubs to enter into shirt sponsorship deals with gambling operators.

Crystal Palace will feature Asian operator Net88 on the front of its shirt for the 2024-25 Premier League season. Premier League rival Wolves will be working with Southeast Asian gambling brand DEBET as sponsor for the next two seasons.

The Net88 deal, Palace said, represents a record deal for the club. Net88 now becomes a principal club partner, with its logo also set to feature on training wear, on the official club website and around the team’s Selhurst Park stadium.

“We’re pleased to announce this principal partnership ahead of the upcoming Premier League campaign as we build upon the excellent form of the men’s team at the end of last season,” Palace chief commercial officer Barry Webber said.

“Net88 is a global online gaming platform for sports and gaming fans alike and we’re looking forward to working with them..

June 13, 2024

Indiana betting handle falls again in May despite Caitlin Clark’s arrival at Fever

Sports betting spend in Indiana fell for the second consecutive month in May to $361.6m (£282.9m/€334.7m) despite the Hoosier State being boosted by the arrival of basketball starlet Caitlin Clark.

Handle in May was 8.2% behind the $393.9m wagered in April. However, the total was up 27.6% from the $283.4m bet in Indiana during May last year.

As has been the case for some time, basketball was the most popular sport to wager on. In total, players in Indiana bet $97.2m on basketball in May. However, this was 19.8% lower than the $121.5m wagered in April – but 35.0% clear of last year’s total.

This decline was despite the arrival of Caitlin Clark, who joined WNBA team the Indiana Fever in mid-April. Clark is regarded as one of the most exciting talents in the history of women’s basketball in the US.

As for other sports, baseball bets in May topped $73.7m, with American football at $1.7m. A further $86.7m was bet on other sports while parlay bets drew $102.1m in total wagers.

Revenue i..

June 13, 2024

DC betting handle rockets 450% in FanDuel’s first full month

FanDuel generated $4.9m (£3.8m/€4.5m) in revenue during its first full month of running as the official sports wagering platform of the Washington DC Office of Lottery and Gaming (OLG).

In its first full month of operation in Washington DC FanDuel reported it had taken $29.7m in bets during May, some 450.0% more than the $5.4m wagered in the same month last year with previous incumbent GambetDC. Players won a total of $24.9m from betting with FanDuel last month.

FanDuel officially took on its new role in DC on 15 April. This followed the Office of Lottery and Gaming (OLG) completing its transition from Intralot-run GambetDC, its long-term partner for sports betting.

The $4.9m generated by FanDuel this May eclipses the $711,282 posted by GambetDC in the same month last year. Revenue is calculated by taking player winnings off total bets placed during the month.

Incidentally, the amount generated by – and bet with – FanDuel is higher than all operators combined for any previous mont..

June 12, 2024

DC sports betting: Open, competitive market coming? It sure looks like it

On Wednesday (12 June) the DC Council took the first step toward opening the city's sports betting market by approving a FY2025 budget that includes the Sports Wagering Amendment Act of 2024. The council unanimously approved the budget during a legislative meeting. There will be a second vote as early as next week.

The decision to open the market was not without controversy. An amendment that would have removed the new sports betting plan was defeated, 4-9, after heated discussion. Two key issues around DC sports betting were at play on Wednesday. Some council members said they were concerned about the “speed” at which the change has moved forward. Others said small businesses that currently benefit from having wagering kiosks could lose the opportunity.

In the current scenario, the Office of Lottery and Gaming (OLG) has a monopoly on online wagering. As of April, FanDuel was the only operator that could offer digital betting throughout the District. BetMGM and Caesars Sportsb..

June 12, 2024

State regulators tell illegal gambling operator to back off or face legal action

Bovada is one of – if not the – leading black-market sports betting operators taking wagers in the US. Already banned in five states, regulators in Michigan and Connecticut are now taking aim at keeping the platform out of their markets.

Since the US Supreme Court overturned the Professional and Amateur Sports Protection Act (PASPA) in 2018, a key goal for legal US stakeholders is stamping out the black market.

The federal government in 2011 had success in taking down the original Poker Stars, which was operating illegally in the US. The same year, the DoJ settled with Laura Varela and Costa Rican sportsbook 5Dimes, which also operated in the US.

But since then, there has been seemingly little activity in relation to keeping illegal gambling operators out of the American market. In May the Michigan Gaming Control Board (MGCB) became the first US regulator to send a cease-and-desist letter to an offshore operator.

“Bovada, you are out!”

On 29 May, the MGCB gave Curaçao-based Bo..

June 11, 2024

How senate redistricting could make Alabama more gambling friendly

A seemingly unrelated legal battle playing out in a federal courtroom could have an impact on the future of gambling in Alabama. The case, centred on the potential redrawing of state senate districts in Montgomery and Huntsville, may hold the key to whether the state legalises casinos, sports betting, or lottery in 2025.

The backdrop for this potential shift lies in the narrow defeat of gambling legislation in the Alabama senate in April. The bill fell short of passage by a single vote.

Proponents of the legislation, which included both Democrats and Republicans, argued that casinos would generate significant tax revenue for the state, create jobs and boost tourism. The Public Affairs Research Council of Alabama previously reported analysis that showed that gambling could lead to $749m in annual state revenue. Other reports put the total at as much as $1.2 bn.

On the other hand, opponents, primarily on moral grounds, expressed concerns about the potential social ills associated with..

June 11, 2024

ITIA issues sanctions over tennis betting offences

The International Tennis Integrity Agency (ITIA) has sanctioned a former professional player and official for betting-related offences.

David Gorsic, a Slovenian former player, and Steven Nguyen, an inactive Australian national-level official, have been charged. Both admitted to betting on tennis while covered by the Tennis Anti-Corruption Programme (TACP).

Gorsic, who reached a career-high world singles ranking of 1,399 back in 2015, admitted to betting between 2017 and 2018.

He faces a six-month ban, three months of which are suspended. This means he will not be eligible between 21 May and 20 August. He has also been fined $5,000 (£3,926/€4,660), with $3,500 of that figure suspended.

Nguyen, who has officiated at ITF junior, wheelchair and W25 events, was found to have bet on tennis between 2021 and 2023. He will serve a three-month sanction – from 23 May to 22 August – and pay a $2,000 fine, with $1,400 of that suspended.

The ITIA did not disclose any further information on th..

June 11, 2024

US May round-up: Year-on-year growth in Iowa, Maryland and Tennessee

Analysing the latest monthly state sports betting reports in the US, iGB takes a look at year-on-year growth across Iowa, Maryland and Tennessee during May.

Player spending was higher in each state in May. Revenue also increased in both Iowa and Maryland during the month, although Tennessee no longer reports this data.

Beginning the monthly analysis in Maryland, player spending on sports betting in May hit $431.5m (£338.9m/€400.7m). This is 34.8% ahead of last year but 11.3% behind April’s total spend of $486.3m.

Of this total, $419.5m, was bet online, while consumers wagered a further $12.0m at retail facilities.

As for revenue, after deducting prizes, promotional wagers and other amounts, this stood at $46.6m. The monthly total is 50.3% higher than last year and 22.6% more than April, despite a lower handle.

Some $45.7m of all taxable win came from online betting, with retail contributing $875,290.

It was also noted Maryland was able to collect $7.0m in tax, including $6.9m fro..

June 11, 2024

Former Inspired CCO launches Playbook Fusion B2B games studio

Steve Rogers, the former, long-time chief commercial officer of Inspired Entertainment, has launched Playbook Fusion, a new B2B games studio aiming to deliver a new genre of betting products.

Playbook Fusion will seek to combine gambling and video games to develop a new genre of sports-themed betting products. This content will be made available to operators in markets around the world.

Each title, Playbook Fusion says, will offer a deeper and more persistent experience than the games currently available. This, it adds, will require players to use skills and optimise their strategy to impact the outcome of each game.

“Recognising how players of video games enjoy the feeling of ownership and pitting their skills against other players in the global community, Playbook Fusion takes that same desire for connection and community into the sphere of gambling,” Playbook Fusion said.

Playbook Fusion targets immersive experiences

Rogers worked with Santiago Jaramillo to develop and launch..

June 10, 2024

Weekend Report: Rhode Island credit limit potentially on the rise

Welcome to the Weekend Report, where iGB updates you with the stories you may have missed over the last few days.

Rhode Island credit limit potentially doubling

On Thursday (6 June), the Rhode Island senate voted to increase the outstanding credit per player to $100,000 (£78,697/€92,973). The house is now expected to review the bill this week.

The amended bill passed with a vote of 28-5 to raise the limit from the previous $50,000 which had been in place since 2014.

Igaming launched in Rhode Island in March. Bally’s Corporation essentially has a monopoly on igaming in Rhode Island following state legislators’ 2021 approval of a 20-year contract for Bally’s and supplier IGT.

The bill was introduced by Senator Frank Ciccone III and Senate President Dominick Ruggerio. The bill’s text states that the aim of the rising credits is to “increase Rhode Island’s competitiveness in the gaming industry”.

However, the bill is also facing opposition. As reported by the Rhode Island Current, Se..

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Tag: Sports betting