Sports betting – Page 32

June 7, 2024

North Carolina betting revenue drops 40.1% in second full month

North Carolina reported gross gaming revenue (GGR) of $63.1m (£49.6m/€58.4m) in May in what was the second full month of wagering in the Tarheel State.

The $63.1m figure fell 40.1% short of April’s total of $105.3m. April was the first full month of betting in North Carolina after operators went live on 11 March.

The May revenue was also 5.1% behind the $66.5m generated in March despite the market only launching 11 days into the month. However, that three-week period included March Madness, with all three North Carolina teams – UNC, NC State and Duke – playing in the tournament.

Handle, meanwhile, stood at $525.5m, again the lowest total yet. The figure was 19.0% short of April’s $648.9m and 20.3% behind March’s $659.3m.

A total of $458.7m was paid out in winnings in May, a hold percentage of 12.3%. In April, operators reported a hold of 17%.

The state didn’t disclose how much tax revenue had been received. Digital operators are taxed at 18% of GGR in North Carolina.

Promos again..

June 7, 2024

Maine sports betting revenue dips despite handle recovery in May

Sports betting revenue in Maine declined 19.5% month-on-month during May despite the Pine Tree State reporting an increase in handle.

Adjusted gross receipts from sports betting in May amounted to $3.3m (£2.6m/€3.0m). This is less than the $4.1m posted in Maine during April.

Maine calculates adjusted gross receipts by subtracting voided and cancelled bets, federal excise tax and player winnings from handle.

On the subject of player spending, total handle for May amounted to $39.9m. In contrast to the revenue decline, total wagers were up 4.2% month-on-month from $38.3m in April.

Consumers won a total of $36.3m from sports betting during May while Maine collected some $331,279 in tax.

DraftKings the clear leader in Maine

At present, Maine is home to just two approved online sports betting operators in the form of DraftKings and Caesars. The former has led the market by some distance since it opened in November last year.

For May, DraftKings posted $2.9m in adjusted gross receip..

June 6, 2024

Two more arrested in NBA betting scandal

Two more people were arrested and arraigned in the NBA sports betting scandal on Thursday (6 June) morning, the US Attorney's office for the Eastern District of New York announced. That brings to three the number of conspirators arrested. One still remains at large.

Timothy McCormack and Mahmud Mollah were both released on $50,000 bond on Thursday morning. They were questioned by federal investigators as early as 30 May, according to the complaint.

Both allegedly bet on games in which then-Toronto Raptor Jontay Porter removed himself early so certain prop bets would pay. Porter is not directly named in the complaint, but the complaint refers to an NBA player who was banned for life. NBA commissioner Adam Silver issued Porter with a lifetime ban in April. He is the only player in the league to have been banned for betting thus far.

Porter was found to have bet on Raptors games and shared personal health information with his co-conspirators.

Two suspects won more than $1m tota..

June 6, 2024

Truesdale to exit as chief executive of Jockey Club

The Jockey Club has announced Nevin Truesdale is to step down as its group chief executive, with his departure expected by the end of the year.

Nevin Truesdale has led the Jockey Club as chief executive since April 2020. Prior to this, he spent time as its chief financial officer and group finance director.

Before joining the organisation, Truesdale worked at British Gas for almost five years. This included spells in various senior financial roles.

Truesdale will continue to lead the Jockey Club in the coming months. He will work with the board of stewards and executive team to manage the transition to his successor.

Under his leadership, the Jockey Club has seen growth across all revenue lines and attracted new commercial partners to racing. The organisation has also expanded its customer base and digital platforms.

Truesdale has also played a prominent role in campaigns against various issues facing the racing sector. These include leading the petition to parliament against bett..

June 6, 2024

Stats Perform scores global cricket betting data extension with ICC

Sports data and live streaming provider Stats Perform has signed an extension to its global betting partnership with the International Cricket Council (ICC).

Stats Perform will continue to collect and distribute official ICC data and live streams to licensed betting operators worldwide. The deal represents an exclusive agreement between the two parties.

The agreement will see Stats Perform provide a range of services for the ICC tournaments to its betting operator partners. These include real-time ball-by-ball match data and low latency video streams.

The partnership covers all major men’s and women’s ICC events. These include the ongoing ICC Men’s T20 Cricket World Cup, which is running from 1-29 June. Other covered events include the ICC Cricket One Day World Cup, ICC Champions Trophy and the ICC World Test Championship.

Alex Rice, chief commercial officer of Stats Perform, said the provider is delighted to be working with the ICC again.

“It reinforces our dedication to collecti..

June 6, 2024

GamCare calls for improved at-risk employee support ahead of Euro 2024

Gambling support charity GamCare has called upon employers to increase their support for staff vulnerable to gambling addiction ahead of the Euro 2024 tournament.

With Euro 2024 set to begin next week, GamCare has urged employers to open safe spaces for workers to discuss any gambling addiction issues, as well as direct them to appropriate services to encourage support.

GamCare also outlined a five-step plan employers could adopt to support their staff and provoke discussion on gambling harms.

Samantha Turton, head of remote support services at GamCare, says the discrete nature of gambling addiction means it’s imperative to open avenues for at-risk punters to seek help, especially in the workplace.

“Last year we saw steps for more GPs to ask questions from patients around gambling, which is an important step forward,” Turton said. “We believe workplaces could be the next place to create more awareness about gambling and could be a win-win for organisations and staff, with people fe..

June 6, 2024

Is online sports betting really taking a bite out of lottery sales?

Lottery Geeks' Bill Dettloff explores whether or not online sports betting is really to blame for declining lottery sales in some states.

Lottery commissions throughout the US are bracing for what they assume will be an attack on their bottom lines. They fear that the exploding popularity of online sports gambling will hurt their businesses. Are their fears justified? Or is there something else at play?

Leading the call for action is Massachusetts Lottery Director Mark William Bracken. For the second year in a row, Bracken used a March lottery commissioners’ meeting to sound the alarm against maintaining the status quo in the face of increasing online sports gambling. He pointed to the 6.8% reduction in lottery sales his state recorded from February 2023 to February 2024. He also noted the lottery’s year-to-date net profit was $28.4m (£20.6m/€24.2m) less than during the same period last year.

But is Bracken’s logic sound? Is online sports betting cutting into lottery sales?

A..

June 5, 2024

Episode 30: Minnesota, DC, Delaware and Illinois

In the latest episode of the World Series of Politics, Brendan Bussmann and Brandt Iden navigate the latest updates from Minnesota, Washington DC, Delaware and Illinois.

The World Series of Politics is back after some technical hitches and we’ve got a lot to catch up on.

We begin in Minnesota. Hopes were high for the state to legalise sports betting before the close of the legislative session, but it inevitably ended without sports betting being considered. Minnesota had been one of four US states that stakeholders thought might pass sports betting legislation, alongside Alabama, Georgia and Missouri. None of them did.

A number of elements factored into Minnesota falling at the final hurdle, Bussmann highlights, one being the arrest of state senator Nicole Mitchell for burglary.

“In the end, one of the downfalls off of this was just, you had, you know, a bunch of people, some are some Ds that just didn’t want to get along at the end,” he says. And although a result was achieved in ..

June 5, 2024

ANJ urges RG caution in France ahead of potential €1bn in Euro 2024 bets

L'Autorité Nationale des Jeux (ANJ), the regulator of gambling in France, has launched a new problem gambling prevention campaign ahead of Euro 2024.

Euro 2024 gets under way in Germany on 14 June and the ANJ says close to €1bn (£851.4m/$1.1bn) could be staked in France on the tournament. The ANJ did note the stake amounts will depend on how France, among the favourites to lift the trophy, fare in the competition.

The €1bn figure would surpass the 2022 World Cup’s stakes total of €900m, when France reached the final. The last European Championships, held in 2021, generated €700m in bets.

However, amid the expected increase in betting activity, the ANJ is urging players – particularly younger people – to take notice of legal notices featured on gambling advertising.

The ANJ’s new prevention campaign aims to raise awareness of betting addiction and the resulting problems. The messages highlight a “deliberately disproportionate” section on addiction risks in yellow to tell the “r..

June 5, 2024

Analyst warns Illinois betting tax hike could trigger similar moves in other states

The decision by lawmakers in Illinois to push ahead with an increase in sports betting tax could push other states across the US to take similar action, an analyst from consultancy B Global has warned.

Last week, the Illinois house of representatives passed a progressive wagering tax rate. This will see the state’s most prolific sports betting operators pay tax at 40%, a sharp rise from the current rate of 15%.

The new-look structure sets rates at between 20% and 40%, depending on each operator’s adjusted gaming revenue (AGR). Operators posting more than $200m (£157m/€184m) face the highest rate of 40% – the second-highest tax rate in the US behind New York at 51%.

Other boundaries include a 20% tax rate for operators with an AGR of under $30m, 25% for between 30m and $50m, 30% for AGR ranging from $50m to $100m and 35% for AGR of $100m to $200m.

The proposal, which forms part of the FY2025 budget in Illinois, is now with Illinois’ governor, JB Pritzker, for sign-off. Should Pritzk..

June 5, 2024

Leaving on a jet plane? Man tied to Porter betting scheme busted at JFK

Banned NBA player Jontay Porter intentionally removed himself from games as a way to pay back “large gambling debts” according to a complaint filed in US District Court for the Eastern District of New York. One of Porter's “co-conspirators” was arrested on Monday (3 June) and appeared in court the following day.

Long Phi Pham, also known as “Bruce,” was ordered held in custody until trial, according to a US Attorney’s Office press release. Per the NY Daily News, Pham was identified as one of the top 1% of poker players in the world at his arraignment on Tuesday.

He was arrested at JFK Airport on Monday after booking a one-way ticket to Australia. Pham is being charged with wire fraud. Pham was carrying about $92,000 in cash and cashier’s cheques, three cell phones and betting slips, according to the complaint.

Three more participants at large

Three other co-conspirators have not yet been arrested. Porter is not named in the complaint, although there is reference to a “Playe..

June 5, 2024

Major League Baseball bans Padres’ Marcano for life, suspends four others

On Tuesday (4 June) Major League Baseball became the latest US professional sports league to ban players for violating gambling rules in the post-PASPA era. San Diego Padres infielder Tucupita Marcano was banned for life after it was revealed that he had bet on his own team.

Four other players, including Oakland Athletics pitcher Michael Kelly, were suspended for up to a year, according to MLB.com. Prior to Tuesday, every other major professional sports league had banned at least one player. Marcano becomes the second player in a US pro league to be handed a lifetime ban this year. On 17 April, the NBA banned Jontay Porter for life after it was discovered that he had bet on the NBA and had shared personal health information with another bettor.

Last year, the NFL suspended 10 players for up to a year for various violations of league gambling rules. All have since been reinstated. The NHL suspended Shane Pinto for violating league rules last October. In addition, the PGA Tour last O..

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Tag: Sports betting