Sports betting – Page 21

August 7, 2024

Betsson, Galera.bet and F12 file Brazil betting applications as submissions hit double figures

Betsson, Galera.bet and F12.bet have joined the growing list of betting applicants in Brazil almost a week after its final regulations were published.
There is less than two weeks until the government’s 20 August initial submission deadline, which guarantees applicants in the first wave will receive a licence by the market launch date.

Betsson, Galera.bet and F12.bet have this week joined the likes of Betano and Rei do Pitaco, who made their submissions in May and July respectively.

Swedish operator Betsson moved into Brazil in 2019 by acquiring a 75% stake in Brazilian sportsbook operator Suaposta. Betsson has invested heavily in Brazil – LatAm accounted for 23% of the operator’s regulated revenues in Q2.

“I think that we have the possibility of tackling [Brazil] quicker than the big brands,” Betsson managing partner for Brazil Andre Gelfi previously told iGB. “We have a good product, we are a very respected brand. I think reputation is a critical aspect of our industry.”

Galera…

August 7, 2024

New casino launches help Full House grow revenue in Q2 but costs hit bottom line

Net losses increased for Full House Resorts in Q2 due to costs associated with opening new casinos hit its bottom line.
Revenue for the three months to 30 June at Full House hit $73.5m (£57.8m/€67.3m). This is 23.7% more than Q2 last year at Full House, with casino driving the increase.

August 7, 2024

Match-fixing or mass hysteria in Brazil?

A match-fixing storm has recently engulfed football in Brazil with allegations of manipulation and lies providing a dramatic side plot to the upcoming launch of the country’s legal sports betting market. But is the problem actually as bad as feared?
If you ask people to name five things Brazil is most famous for, you’d be hard pressed to find someone who doesn’t mention football. The bright yellow shirts of the national football team are perhaps the most iconic around, with legendary players such as Pele and Ronaldo leading the Seleção to win five World Cups, the most of any country.

And yet, such a historic footballing nation has seen its most treasured sport thrown into disarray of late.

O jogo bonito is a religion in Brazil, but is there a dark side?
The row erupted when American businessman John Textor, owner of Botafogo de Futebol e Regatas, made allegations of match-fixing against São Paulo players. Textor claimed he had evidence they were bribed in a game against Palmeiras in ..

August 6, 2024

NJ regulator orders Bet365 to pay bettors $519,000 after unapproved odds’ shifts

The New Jersey Division of Gaming Enforcement (DGE) is mandating that Bet365 pay out $519,323.32 for 199 winning wagers on which the company adjusted odds without the agency's approval. The changes in odds were made on 12 different dates between 25 December 2020 and 18 November 2022.
All states do not require operators to get approval before shifting odds. Also unusual is that Bet365 must pay the bettors rather than a fine to the DGE. In many cases in New Jersey and other states, when a sportsbook violates the rules, fines are imposed.

Bet365 is among the top five operators in terms of gaming revenue in New Jersey.

The DGE gave Bet365 10 days to reimburse bettors from the time the letter went out.

Division approval needed, DGE reiterates
According to a 22 July letter, Bet365 altered the odds on the events after they were posted.

In the letter, the DGE writes that Bet365 believed it could “unilaterally revise the odds that had already been offered on wagers for these event..

August 5, 2024

Bowyer allegedly had 700+ illegal betting customers, washed money through Las Vegas and California casinos

Court documents reveal that alleged illegal bookmaker Mathew Bowyer had more than 700 customers, washed money through multiple casinos and used Costa-Rican betting websites in his business.
On 1 August, Bowyer was charged on three counts. He is accused of running an illegal bookmaking scheme, laundering money and filing a false tax return. Bowyer, according to court documents, will plead guilty Friday before Judge John W Holcomb at the Ronald Reagan Federal Building and United States Courthouse in Santa Ana, California.

Bowyer’s business was based out of Orange and Los Angeles counties in California and Clark County in Las Vegas. Sports betting is illegal in California.

Bowyer faces a maximum sentence of 18 years in prison and three years of probation. He could be fined $750,000 or two times the “gross gain or gross loss resulting from the offences” – whichever is higher.

Mizuhara, two pro ballplayers linked to Bowyer
According to the court documents, it is unclear when Bowyer sta..

August 5, 2024

Rush Street Interactive won’t join DraftKings in introducing surcharge

Rush Street Interactive has no plans to introduce a surcharge for its players after DraftKings announced its plans to implement a gaming surcharge last Thursday (1 August).
Rush Street Interactive’s commitment to customer-centric policies in a Monday (5 August) press release follows DraftKings’ Q2 business update. DraftKings said its plans to “address high tax rates” involved introducing surcharge on winning bets in states with a tax rate exceeding 20% starting from 1 January 2025.

Rush Street Interactive and its brands, which include BetRivers and RushBet, says it is reaffirming its “dedication to providing exceptional value” for players by not following in DraftKings’ footsteps.

It was an “easy decision” for Rush Street Interactive CEO Richard Schwartz.

“RSI remains committed to maintaining its leadership position in the industry by continuously prioritising the needs and preferences of its players,” Schwartz explained.

“We believe that RSI’s focus on customer satisfaction, coupl..

August 5, 2024

Genius Sports extends Football DataCo deal, adds new in-play markets

Genius Sports has extended its exclusive live betting data partnership with UK football rights holder Football DataCo to 2029, in a deal that will provide Genius with new pre-game and in-play player markets from the 2025-26 season.
Football DataCo covers the English Football League (EFL), containing the Championship, League One and League Two, as well as all leagues overseen by the Scottish Professional Football League (SPFL), including the Scottish Premiership.

In its renewed deal, Genius Sports will provide its sportsbook partners with data on number of shots on target, assists and pass completions, to bolster their in-play betting offerings.

Genius Sports has been Football DataCo’s official data partner since 2019 and has distributed live data for over 4,000 games per season since.

Genius develops deeper ties with football infrastructure
It has also expanded its technology partnership with the Premier League and EFL, through which it provides both Premier League and EFL Champions..

August 5, 2024

Brazil gambling regulation complete as government publishes final ordinances

With less than five months until the anticipated launch date of the legal betting market in Brazil, the final gambling regulations have been outlined in ordinances published by the ministry of finance’s Secretariat of Prizes and Bets (SPA).
The four-phase regulatory rollout set out in April is now complete and the launch of legal gambling in Brazil is on track for 1 January 2025.

Jump to:

Online games

Monitoring and inspection

Money allocated to the state

Responsible gambling, including a ban on influencer advertising

Sanctions for non-compliance

Operators have been submitting their applications for licences, with the total number of requests now at six after NSX Group’s Betnacional filed its application on Thursday (1 August) with less than three weeks to go until the 90-day initial window of preference closes.

Operators who apply before 20 August will have their applications prioritised by the SPA and ensure they are processed by the expected launch date of the market.

Those..

August 2, 2024

Sporttrade, Plannatech awarded Arizona event wagering licences

On Friday (2 August) the Arizona Department of Gaming (ADoG) awarded two tribal-tethered event wagering licences. Sporttrade, currently live in Iowa, New Jersey and Colorado, and UK-based Plannatech are now approved to offer digital betting.
Both companies will be tethered to tribes. Sporttrade will partner with the Quechan Indian tribe of the Fort Yuma Indian reservation and Plannatech will partner with San Carlos Apache Tribal Gaming Enterprise.

The Quechan tribe was formerly partnered with Unibet, which exited the state earlier this year. The San Carlos Apache were partnered with WynnBet, which is unwinding its platform across the country.

Sporttrade offers exchange wagering in New Jersey and has technology that allows an experience similar to playing the stock market. But the company has struggled to convince other regulators to allow this type of betting. It is live in Colorado and Iowa as a traditional sportsbook.

It is not apparent that Arizona allows exchange wagering.
..

August 2, 2024

Mizuhara bookie Mathew Bowyer charged in illegal California wagering ring, set to plead guilty

Mathew Bowyer, an illegal bookmaker with deep connections to Las Vegas’ gambling scene, is set to plead guilty in a high-profile betting case involving a former interpreter for Major League Baseball superstar Shohei Ohtani.
Bowyer is charged with multiple counts of illegal gambling activities. Among these charges are running an unlicensed sportsbook, filing a false tax return and money laundering. According to a US department of justice notice, federal prosecutors have outlined a case demonstrating that Bowyer facilitated and profited from a large-scale illegal sports betting ring, which implicated various figures in the sports world.

The illegal southern California wagering ring involved high-profile clients, including athletes and executives.

Most notable among those figures was Ohtani’s former interpreter, Ippei Mizuhara. He pleaded guilty in June to bank fraud and filing a false tax return. He has to return to court in October for sentencing.

If convicted, Bowyer could face up ..

August 2, 2024

Bettors, analysts say “no thanks” to DraftKings’ surcharge idea

US sports betting operators have long been grappling with ways to navigate increasingly high tax rates. But DraftKings' new idea isn't sitting well with bettors or analysts.
DraftKings spurred debated among the wagering community on Thursday (1 August) when it announced plans to implement a gaming surcharge for players in high tax states.

In its Q2 business update, the company said it has “plan to address high tax states”. That is to “roll out a gaming tax surcharge” starting 1 January 2025. This will be applied to winning bets “in any state with a tax rate above 20% that has multiple sports betting operators”. Those criteria currently apply to New York, Illinois, Vermont and Pennsylvania.

New York’s tax rate is 51%, Pennsylvania is 36% and Vermont is 20%. Illinois recently implemented a sliding scale that caps out at 40% for the highest-earning operators. The bottom of the scale is 20%.

DraftKings asserted the surcharge will be “fairly nominal to the customer”. The only ..

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..

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Tag: Sports betting