Sports betting – Page 30

June 18, 2024

Arizona posts year-on-year sports betting growth in April

Higher spending on sports betting led to a 26.1% year-on-year rise in adjusted gross revenue (AGR) in Arizona, while the Grand Canyon State also reported a month-on-month increase in revenue.

Starting with handle, total spend in Arizona on April hit $656.3m (£516.9m/€611.6m). This is 22.5% higher than last year but 13.6% behind $759.8m in March this year.

Arizona consumers spent $649.9m betting online in April and $5.0m at retail sportsbooks. A further $1.4m was bet through limited event wagering (LEW) operators during the month.

Players won $591.8m from sports betting, leaving $63.3m in AGR prior to the impact of free bets. This includes $62.9m from online wagers, $298,458 retail and $55,098 LEW operators.

After deducting $19.9m in free bets and promotional credits, this left $43.4m in AGR. This is 26.1% higher than $34.4m last year and also 14.2% more than March’s $38.0m total.

Online betting generated $43.0m in AGR after free bets, with retail’s share at $289,208 and LEW operat..

June 18, 2024

Massachusetts May handle up on last year as DraftKings maintains top spot

Player spending on sports betting in Massachusetts fell for the second consecutive month in May, although the Bay State was able to report a year-on-year rise in handle.

Overall betting handle for the month hit $587.3m (£462.7m/€547.6m), 32.4% higher than May last year, but 2.7% behind the $603.3m wagered in Massachusetts in April this year.

Online handle across the six sites active in the state accounted for 98% of all bets placed.

In terms of revenue, this amounted to $57.0m in taxable betting revenue for May. The monthly total is 4.0% lower than $59.4m last year. However, it is a 16.1% increase on the $49.1m posted in April this year.

Online betting accounted for $56.9m of all taxable revenue during May. In contrast, just $105,629 came from the retail betting sector.

Overall revenue hold across all operators hit 10% in May.

A Deutsche Bank analyst note on the month’s figures noted the calendar in May was favourable for betting and gaming, with nine weekend days in May of 2024..

June 18, 2024

Illinois betting handle up 22.8% to $1.10bn in April

Sports betting handle in Illinois jumped 22.8% year-on-year to $1.10bn (£868.2m/€1.03bn) in April, while revenue also edged up year-on-year.

The Illinois April figure was 22% higher than the $898.6m wagered in the same month last year. However, it was down 12.7% from the $1.26bn bet in Illinois in March of this year.

Of the total amount wagered in April, some $1.07bn was spent betting across the eight online platforms available in the state. The remaining $31.8m was attributed to in-person betting.

Professional sports drew the most wagers at $1.05bn, with $1.02bn being bet online and $29.1m in-person. The data, published by the Illinois Gaming Board, does not include a breakdown by sport.

College sports wagers topped $44.3m, split $41.7m online and $2.6m retail. The other $640,758 was bet on motor racing, including $608,030 online and $32,728 in-person.

FanDuel takes top spot in April

Looking at individual operators in Illinois, FanDuel led the way in terms of revenue. During Apr..

June 17, 2024

Weekend Report: FanDuel the US leader

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

FanDuel still the US leader

A new report from Jefferies shows FanDuel is leading the US sports betting market.

Of the 11 states to have reported online sportsbook revenue for May, FanDuel captured 45% gross gaming revenue market share. DraftKings was second with 36%, followed by BetMGM (6%), Fanatics (3%) and ESPN Bet (2%).

Mavericks owner: Patience on Texas gambling

Patrick Dumont, the governor of the NBA’s Dallas Mavericks, is unsure when gambling will be legalised in Texas.

Despite progress seemingly being made last year, Texas remains one of the biggest US states without a legal sports betting market. The state legislature meets only in odd years, so the next opportunity is 2025.

Dallas Stars president says sports betting legalization is still a difficult proposition in Texas… 🌟🌟
Legislators in Texas are still trying to legalize sports betting. It's been a f..

June 17, 2024

US Supreme Court declines to hear Florida sports betting case

It's likely the end of the road for WFA's case as the Seminole tribe can continue operating its sportsbook product in Florida, closing the door for commercial operators.

On Monday (17 June) morning, the US Supreme Court denied the writ of certiorari (court process to seek judicial review of a decision) in the the Florida sports betting case filed by West Flagler and Associates (WFA). The decision means that digital sports betting can remain live in Florida. From here, WFA could again try to pursue its case through the Florida state court system.

In March, the Florida Supreme Court said it would not hear WFA’s quo warranto bid, calling it the wrong “vehicle” for the Florida sports betting case. The decision left the door open for WFA to re-file in a lower Florida court.

The case was first filed in federal court in the second half of 2021. At the federal level, WFA has now exhausted all routes.

“The Seminole tribe of Florida applauds today’s decision by the US Supreme Cour..

June 17, 2024

Bet365 gaining NJ market share as May statewide betting handle rises 8%

Bet365 looks to be gaining market share in New Jersey sports betting as it reported $3.5m in gross revenue for May, according to the NJ Division of Gaming Enforcement's monthly revenue figures.

The UK-headquartered operator reported year-to-date betting revenues of $16.6m for the month, coming in at fifth place behind BetMGM with $26.7m, PointsBet’s $88.3m, DraftKings’ $123.1m and FanDuel’s $211.4m.

FanDuel topped the list in May with $36.7m in gross betting revenue for the month, with DraftKings a close second at $22.1m and BetMGM trailling in third place with $5.6m, down 17.1% on last year’s total.

The regulator began publishing monthly numbers by each operator in January, after previously showing only the revenues raised by each master licence, which accounts for multiple operators.

Also of note was ESPNBet’s gross betting revenue of $2.6m and PointsBet’s losses of $201,201 during the month. The former recorded year-to-date revenues of $5.1m and the latter of $88.3m in ..

June 15, 2024

MLB umpire disciplined for violating gambling policy

On Friday (14 June) Major League Baseball (MLB) announced it had disciplined umpire Pat Hoberg for violating the league's sports gambling policy. Hoberg has appealed the decision, which was first reported by The Athletic.

The exact details of Hoberg’s penalty are unknown, but he has not appeared in a game this season. In its statement on Friday, MLB said Hoberg did not directly manipulate games, but did not rule out him betting on baseball.

Per league rules, betting on baseball is punished with a year-long ban. Betting on games in which one is playing, coaching or officiating results in a lifetime ban.

Hoberg is appealing the decision.

“During this year’s spring training, Major League Baseball commenced an investigation regarding a potential violation of MLB’s sports betting policies by umpire Pat Hoberg,” the statement read. “Mr Hoberg was removed from the field during the pendency of that investigation.”

Despite there not being “any evidence that games worked by Mr Hober..

June 14, 2024

US May round-up: Kansas sports betting growth, Detroit casino revenue rises

Taking a look at some of the latest monthly US state results, iGB analyses a year-on-year rise in sports betting revenue in Kansas during May and growth in the land-based casino market in Detroit, Michigan.

Sports betting revenue in Kansas was 10.1% higher at $9.8m (£7.7m/€9.1m) in May. As for Detroit, revenue from land-based casinos increased 7.2% to $113.2m.

Beginning the analysis in Kansas, despite year-on-year growth, revenue was 5.8% lower than the $10.4m generated in April. Some $9.6m of all sports betting revenue came from online activity, with retail contributing $155,888.

In terms of handle, total player spending in May hit $172.2m, an increase of 43.1%. Of this, $164.1m was wagered online and $8.1m at retail sportsbooks across Kansas.

The state collected a total of $976,764 in sports betting tax, most of which also came from online wagering.

FanDuel and Kansas Star lead the pack

FanDuel, partnered with Kansas Star, took the lead in the Kansas online betting market in Ma..

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..

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Tag: Sports betting