Sports betting – Page 27

May 8, 2024

Super Group hits record revenue, deal to acquire platform revealed

Betway operator Super Group has reported Q1 revenues of €379.3m (£326.7m/$407.6m), its highest ever in a first quarter as it announced an agreement to fully acquire its sportsbook technology platform.

Super Group’s revenue total for Q1 is 5.4% up on the €359.9m generated in the final quarter of 2024. It was also a 12.1% hike on the first quarter of 2023.

Super Group attributed the rise in revenue to growth in Africa and North America. Super Group’s Africa and Middle East revenue was 58.9% up year-on-year, while North America’s figure was an 8.2% rise. Africa now accounts for 38% of Super Group’s revenue from 27% in Q1 2023. However, Super Group did note decreases in its Middle East and Asia-Pacific markets.

Super Group announced a profit of €41m for Q1. However, that included a pre-tax gain of €40.1m from the sale of the B2B division of Digital Gaming Corporation (DGC) to Games Global, as well as a non-cash charge of €13.1m for change in fair value of option liability.

Adjusted EBI..

May 7, 2024

ESPN Bet, PGA Championship strike sports betting deal

On Tuesday (7 May) the PGA Championship became the first major golf tournament to make a deal with a wagering company. ESPN Bet parent company Penn Entertainment announced the deal.

Under the terms of the deal, ESPN Bet becomes the “official sports betting partner” of the PGA Championship.

The tournament will be held at Valhalla Golf Club in Louisville between 16-19 May. Because the PGA Championship changes venues each year, no brick-and-mortar sportsbook will be associated with the deal.

Next week, ESPN Bet will have a members lounge set up adjacent to the green on the 13th hole. ESPN Bet customers will be able to use the lounge.

Inside the lounge, ESPN Bet account holders will find beverages and covered seating and will also get special betting offers. The lounge will have a view of the par-4 13th hole.

“The added onsite presence of ESPN Bet as well as broadcast and content offerings will provide spectators with exciting new ways to enjoy and engage with all of the action du..

May 7, 2024

Ohio regulator considers extending licence runway; Arkansas casino application opens

Tuesday (7 May) marks the final day for comments on a rule change that would extend the deadline for Ohio licensees to launch. But the Ohio Casino Control Commission is considering extending the runway.

Currently, licensees have one year to go live from when a licence was issued. For local or retail entities, it’s not always easy to go from concept to launch in 12 months. According to the Business Journal, Phantom Fireworks is among those pressing against the deadline set by the Ohio regulator. Licensed as a Type B operator, which is brick-and-mortar only, the company does not yet have a definitive location for its sportsbook.

The proposed rule change would allow the OCCC executive director the latitude to extend the deadline on a case-by-case basis. Should the executive director determine that the licensee is making progress toward launch, he would have the option to give it more time.

HOF, Muirfield haven’t launched

The Ohio regulator launched legal sports betting on 1 Januar..

May 7, 2024

New ordinance reveals some exceptions for data centres outside Brazil

New rules outlined by the Regulatory Policy of the Prizes and Betting Secretariat (SPA) and the ministry of finance have outlined some exceptions will be made for data centres to be located outside Brazil.

Brazil’s Official Diary of the Union published Normative Ordinance No 722 last week. The new ordinance comes with Brazil clarifying its regulation after a four-part regulation rollout was announced in April. This follows Brazil passing legislation on 21 December to allow for sports betting and igaming. President Luiz Inacio Lula da Silva signed Bill 3,626/2023 into law later that month.

Normative Ordinance No 722 has outlined the rules around betting systems, such as the relevant technology and security requirements. Notably, the ordinance clarified special situations where it will permit data centres to be outside Brazil.

Special circumstances for data centres outside Brazil

The new ordinance outlines that data centres must be located in Brazil. However, specific conditions coul..

May 7, 2024

NCAA proposed ban on college player prop bets isn’t black and white

Some Sundays, when Charles Moore goes to church, he finds himself sitting behind a professional or college athlete. And he starts to wonder: What kind of gambling education is that player getting? Will he be harassed if he blows a play? What can I do to help?

Charles Moore is the executive director of the Wyoming Gaming Commission (WGC). Casper, population of 58,543, is the second-biggest city in the least populous state in the US. It is also Cincinnati Bengal Logan Wilson’s hometown.

Wyoming’s current athletic claim to fame is Buffalo Bills starting quarterback Josh Allen, a University of Wyoming graduate. There are four active NFL players who went to college in Wyoming and one active NBA player (Larry Nance Jr). New York Met Brandon Nimmo is a native of the state’s biggest city, Cheyenne (population 64,795).

Does harassment have a “direct relationship” to props?

Each one of them is on Moore’s mind.

“We know for a fact that our student athletes are being harassed,” Moore said…

May 6, 2024

Operators favour open DC market, but small businesses voice concerns

The DC Council's first hearing on a bill that would create an open, competitive sports betting marketing wasn't without rancour or criticism. And while there were some insights, there wasn't a vote or a clear plan for what happens next.

On Monday (6 May) Councilman Kenyan McDuffie chaired a three-hour hearing in the business and economic development committee exploring an open DC market.

Representatives from BetMGM, Caesars Sportsbook, DraftKings and Fanatics Betting & Gaming testified in favour.

The committee also heard heated opposing testimony from representatives of the small business community. And McDuffie and DC Lottery chief Frank Suarez revisited an earlier combative discussion about why change has taken so long.

On the financial side, a new bill would increase the tax rate for retail sportsbooks and reinstate funding for problem and responsible gaming initiatives. It would also allow seven professional sports franchises and teams to partner with sportsboo..

May 3, 2024

Iowa betting investigation: “If they get suspended or a scholarship taken away, so be it”

An Iowa criminal investigator appears to have lost his moral compass and is more concerned with garnering attention than following the rules, emails released to the Associated Press reveal this week.

In the ongoing investigation around the suspension and arrests of multiple college athletes, the emails shine new light on what motivated at least one investigator.

An Iowa betting investigation “would bring attention to our unit, not only in the public’s eyes, but also as far as the commissioner and even possibly the legislatures,” Iowa Division of Criminal Investigation special agent Chris Adkins wrote in a 2023 email to colleagues, according to the AP.

The emails shine another light on an investigation that has begun to look a lot like an abuse of power. The end result was that dozens of athletes from the University of Iowa and Iowa State University either faced criminal charges in the state or NCAA suspensions.

In some cases, potentially including for then-Iowa State quarterback..

May 3, 2024

State of the Union: A look 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.

Now Donald Trump Jr is getting in on the action

Donald Trump Jr is the latest to weigh in on the Alabama legislature’s legal lottery conundrum. The Alabama house passed a stripped down gambling expansion bill on Tuesday (30 April), but the senate did not after the bill’s sponsor and conference committee member, Greg Albritton, voted against the final version.

I’m excited to be in Alabama next week for a fundraiser for my dad, but whenever I ask anyone from there what's going on in the state this is all they talk about. Why's their senate refusing to let the people vote on a clean bill to legalize the lottery & fund education when 45… https://t.co/g6rWOvAWJC
— Donald Trump Jr. (@DonaldJTrumpJr) May 2, 2024

The Poarch Band of Creek Indians, who are in Albritton’s district, would be giving up some so..

May 3, 2024

Missouri sports betting petition submitted with over 340,000 signatures

A petition to allow for statewide mobile sports betting in Missouri has been submitted to the secretary of state with over 340,000 signatures.

The “Winning for Missouri Education” group are the petition’s proponents. It is being led by the six Missouri professional sports franchises and seeks to legalise sports betting in the state.

The petition needed 180,000 verified signatures to make it onto the November ballot. It has far exceeded that prior to the 5 May deadline, also passing a target of 325,000 set in April.

The initiative would bypass the state’s general assembly following years of delays in allowing it to join nearby states such as Kansas and Kentucky in legalising online betting, with seven of Missouri’s eight bordering states currently offering sports betting.

Jack Cardetti, a spokesman for the campaign, stated: “We are grateful for the support from Missouri’s professional sports franchises, who have been crucial in creating the opportunity for Missourians to vote direct..

May 3, 2024

US TV sports betting ads down by a third from 2021

A Nielsen study on sports betting advertising commissioned by the American Gaming Association (AGA) has found that the volume of TV sports betting ads has declined by 33.3% since 2021.

The study looked at sports betting advertising trends from 2013 to 2023. The AGA noted that TV represents the largest category for sport betting advertisers.

Explaining the decrease in sports betting ad volume, the report posited that a change in localised marketing – as more states legalise sports betting – may be the culprit.

“Advertising by legal sportsbooks plays an important role in informing consumers about legitimate betting operators and in migrating those consumers to safe betting options,” said the AGA. “As sports betting has expanded into new states, legal operators often launch advertising campaigns to raise awareness of legal sportsbooks and capture market share. Over time, those markets mature and the level of advertising declines.”

Sports betting TV advertising units also declined 11% ..

May 2, 2024

Ohio betting revenue drops 3.8% in first month since college prop bet ban

Ohio reported total sports betting revenue of $63.8m (£51.0m/€59.6m) in March, down 3.8% on February’s total of $66.3m.

The sports betting revenue total of $63.8m in March also fell 33.1% short of the same month last year, when Ohio reported revenues of $95.3m. March 2023 was the third month after Ohio launched its sports betting market.

Ohio’s revenue drop was in spite of handle reaching $808.2m in March, significantly up from the $671.1m in bets taken in February. The NCAA Division 1 basketball tournaments are big drivers of handle in the US during the month.

The state’s March handle was also a 9.6% increase on the $737.2m in bets taken in the same month last year.

Taxable revenue stood at $64m, after $738.8m was paid out in winnings and $22.5m was written off in promotions.

Of the $808.2m in handle, online accounted for $784.8m, or 97.1% of the total. Online sports betting revenue was $62.1m, compared to $1.7m in retail.

FanDuel retains lead over DraftKings in Ohio

In terms ..

May 2, 2024

Survey: Bet365 beats out DraftKings, FanDuel among youngest US bettors

A new YouGov survey has highlighted the growing momentum among emerging sportsbooks in the US sports betting market.

The YouGov survey revealed that DraftKings and FanDuel are still capturing the most usage from older bettors. However, Bet365 is emerging as the dominant sportsbook among those aged 21-24.

It ranked as the top sportsbook for both the 21-24 and 25-34 age categories, above FanDuel and DraftKings. Some 31% of those surveyed between 21 and 24 had bet with Bet365 in the month prior to the survey.

Only 14% of the 21-24 age category were categorised as prospective bettors. Therefore, Bet365’s opportunity among the younger market looks set to grow further thanks to investment in the US. In total, 60% of sports bettors reported using Bet365 more, the most among all US sportsbooks.

Taking it slow working for Bet365

It should be noted that on its 2022-23 financial year, Bet365 posted a £61.2m loss. However, the company also posted significant revenue growth, with sports bettin..

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Tag: Sports betting