Sports betting – Page 37

May 14, 2024

Loterj approves operator licence for Rio Jogo

Casa de Aposta Rio Jogo (Lema) has become the fifth operator to be licensed to offer sports betting and igaming by the Rio de Janeiro State Lottery (Loterj).

Ahead of the launch of the regulated sports betting and igaming market in Brazil, operators are making steps to secure licences, with Rio Jogo now doing so thanks to an approval in the Loterj accreditation notice.

Rio Jogo becomes the fifth operator approved by Loterj, joining the likes of PixBet and BestBet. Meanwhile, seven operators are currently in the process of gaining accreditation, including Caesars Sportsbook and PNR Tecnologia.

Rio Jogo chief executive João Victor de Araújo Souza thanked Loterj for its work on implementing wagering accreditation in Brazil.

“We believe in a regulated gaming market and its legality,” the CEO said. “We are aware of the responsibilities and duties assigned to us in the contract and we affirm that we are fully prepared for the success of the project.”

Loterj grants Rio Jogo licence in th..

May 14, 2024

US DoJ to Supreme Court: Florida sports betting case isn’t in your purview

Late on Monday (13 May) the US Department of Justice (DoJ) filed its response in the Supreme Court in the Florida sports betting case. The filing is the final piece before the court determines whether or not it will hear the case that could change the future of sports betting in Florida.

West Flagler and Associates (WFA) filed a writ of certiorari with the Supreme Court in April. In its response to WFA, the DoJ essentially argues that the Florida pari-mutuel’s case has no place before the court.

DoJ attorneys, on behalf of the Department of the Interior (DoI) wrote that the key issue, the validity of the Seminole-Florida 2021 compact, is not a federal issue. They also argued that the compact itself is well within bounds and that the DoI decision to allow it to be “deemed approved” does not violate any laws.

At issue is whether or not the DoI should have approved a compact that gives the Seminoles exclusivity to online sports betting. DoJ lawyers said the Florida sports betting ca..

May 13, 2024

Fanatics SVP of trading Wright departs after two years

Andy Wright has announced he has left his role as senior vice-president of trading at Fanatics Betting and Gaming (FBG).

Wright joined Fanatics in May 2022 from his previous position of trading director at KingMakers.

Wright’s time at Fanatics saw the company launch its sportsbook offering in January 2023. With its launch at the then-named FedExField in Maryland, Fanatics became the first sports betting operator to open a retail sportsbook within a National Football League stadium.

Fanatics has since expanded across the US, launching its online casino in November 2023. Additionally during Wright’s tenure, FBG acquired PointsBet’s US business for $225m (£179.2m/€208.5m).

In a Linkedin post, Wright stated he was “incredibly grateful” for his time at Fanatics helping to build its betting and gaming division.

“Now it’s time to recharge the batteries and spend more time with the family before finding a new venture,” Wright said.

“All the best to the team at Fanatics Betting & Gaming. ..

May 13, 2024

Tennessee sports betting records further year-on-year gains

Gross mobile sports betting wagers in Tennessee increased 20.7% year-on-year to $384.2m (€356.5/£306.6m) in April.

In April, Tennessee sports betting saw a year-on-year rise that was almost identical to the 20.6% recorded in March. However, wagers collected in April were well down on the $473.6m collected in March, which enjoys a busy sports schedule.

With some $3.3m of income attributed as adjustments, overall gross handle was recorded as $380.9m. This compared to $472.0m in March, with no comparable figure released in April 2023.

In terms of privilege tax from sports betting, the state collected a total of $7.0m. This was up 9.4% compared to last year.

The Tennessee Sports Wagering Council does not publish data regarding monthly revenue, nor any information on individual operator performances.

Who is active in Tennessee sports betting?

While data on Tennessee sports betting is limited, the Volunteer State does feature some of the leading names in US sports betting. BetMGM, FanD..

May 13, 2024

Betano named sponsor and betting partner of top Argentina football league

Betano will be the new sponsor of the top football league in Argentina after Kaizen Gaming and the Argentina Football Association (AFA) announced a partnership.

The top division in Argentina will now be known as Torneo Betano commencing from the opening of the season this past weekend. Meanwhile, the cup competition Copa de la Liga Profesional will be renamed Copa Betano from next season onwards.

Betano will also be the league’s exclusive betting partner following its launch in Argentina earlier this year.

AFA president Claudio Tapia is excited for the potential of the new deal.

“The Liga Profesional de Fútbol is, without a doubt, one of the most important and popular sports competitions in Argentina,” Tapia said. “This agreement with Betano strengthens our vision and confirms, once again, the massive reach of Argentine football.”

Kaizen’s chief commercial officer, Julio Iglesias, added: “Our new partnership with the AFA reinforces our growing dedication to the Argentinian footbal..

May 13, 2024

ITIA bans two tennis players for corruption linked to Belgian syndicate

The International Tennis Integrity Agency (ITIA) has banned two tennis players for corruption linked to a syndicate in Belgium.

The ITIA has issued Alejandro Mendoza Crespo with the maximum penalty of a lifetime ban from tennis for 20 offences. Meanwhile, Jorge Panta Herreros has been suspended for three years for four infringements.

The sanctions were handed down by independent anti-corruption hearing officer Professor Richard McLaren. This came after a formal hearing in early March, with the suspensions effective from 4 April onwards.

Mendoza and Panta were also issued with fines of $250,000 (£199,619/€231,942) and $10,000 respectively. The pair will be banned from playing, coaching or attending any event sanctioned by ITIA members, including the ATP and WTA.

Last week, Eduardo Agustín Torre was suspended for five years following 35 breaches of the Tennis Anti-Corruption Programme (TACP). Torre was also fined $35,000.

New ITIA sanctions follow syndicate-related tennis bans

The ..

May 13, 2024

Iowa posts year-on-year sports betting market growth in April

Sports betting handle in Iowa increased 21.4% year-on-year to $209.5m (£167.2m/€194.5m) in April, while the state also reported higher revenue for the month.

Player spending in April is comfortably clear of the $172.6m wagered in Iowa in the same month last year. However, the April total fell short of March’s total spend of $272.4m and also behind the $220.6m bet in February.

Of the total wagered in April, $196.6m was bet online and $12.9m via retail sportsbooks across Iowa.

An increase in player spending helped push revenue to $16.5m. This is 17.0% more than last year but a drop of 9.3% from $18.2m in March.

Online sports betting generated $15.7m in revenue during April, while retail drew $812,305.

Total player winnings for the month reached $192.3m, including $180.9m from online and $12.1m retail. As for tax, this amounted to $1.1m.

Who is winning in Iowa?

As has been the case for some time, FanDuel and partner Diamond Jo Dubuque remain out in front in Iowa. During April, the ..

May 13, 2024

Indiana sports betting handle and revenue up in April

Indiana reported a year-on-year increase in both handle and revenue for its regulated sports betting market in April, although the state also posted month-on-month declines.

Total handle in Indiana in April amounted to $393.9m (£314.4m/€365.7m). This is 22.6% ahead of $321.4m last year but 21.4% short of March’s $500.8m figure.

Basketball was once again the sport of choice for bettors in the state, attracting $121.5m in total wagers. Indiana is home to NBA franchise the Indiana Pacers and Indiana Fever of the WNBA, as well as a raft of college teams.

Meanwhile, players spent $67.7m betting on baseball during April and a further $2.9m on American football. Some $84.8m was bet across other sports while parlay betting totalled $116.8m.

In terms of revenue, taxable adjusted gross revenue for April hit $37.1m. This is 26.2% up from $29.4m in April 2023 but 5.8% less than $39.4m in March of this year.

Indiana does not publish a sport-by-sport breakdown for monthly revenue. However, it w..

May 13, 2024

New York online sports betting handle tops $1.96bn in April

Players in New York spent $1.96bn (£1.56bn/€1.82bn) betting on sports online in April, one of the highest monthly figures since the state’s legal market launched in January 2022.

Handle is 27.3% higher than $1.54bn in April last year and 6.0% up from $1.85bn in March of this year. It is also the fifth highest monthly spend total on record in New York.

As for gross gaming revenue from sports wagering, April’s total hit $183.8m. This is 32.4% up from $138.8m in April 2023 and 21.2% ahead of March’s $151.7m haul.

The all-time monthly revenue record in New York stands at $211.5m, set in January this year. As for handle, players bet an all-time high of $2.11bn in November 2023.

FanDuel still the one to beat

Flutter Entertainment-owned FanDuel continues to hold a healthy lead in New York. During April, the operator posted $91.0m in revenue off $780.5m, both some way clear of the chasing pack.

DraftKings remains FanDuel’s closest challenger, reporting revenue of $63.2m and a $737.0m ha..

May 10, 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.

Legal wagering, HHR ban bill combined in Minnesota

On Friday (10 May) Minnesota state representative Zack Stephenson combined his legal wagering and historic horse racing bills. The house ways and means committee moved the bill, now HF 5274, to the house floor. Should it pass, legal digital wagering would be allowed, but HHR machines would be prohibited.

👀 Speaker Hortman told reporters today that odds of getting sports betting done in these dwindling #mnleg days are going up again — currently at 60-40, she said. Cited productive talks. Said HHR ban would need to be part of any deal.
— Torey Van Oot (@toreyvanoot) May 9, 2024

Combining the bills does not solve any of the issues that have held up sports betting legalisation. The state’s two racetracks, who want a slice of the wagering pie, remain opposed. M..

May 10, 2024

Vasco da Gama and Betfair sign biggest sponsorship in club history

Vasco da Gama and Betfair have signed the biggest sponsorship in the club’s history as Brazil prepares to launch its fully regulated sports betting market.

The deal between Vasco, who play in the top-flight football league in Brazil, and Betfair, will run until 31 December 2025.

The agreement, despite being billed as the “biggest”, did not disclose the final price. It is also understood that the sponsorship could be renewed for two additional seasons.

Vasco’s men’s team will feature Betfair’s branding on their kit. Meanwhile, the women’s team will have it on the shoulderblade of their shirts. Vasco will debut the Betfair brand on its shirt in their game against Vitória in the league on 12 May.

The deal will feature extensive cooperation between Vasco and Betfair, with activities also included that will be aimed at the club’s fans. These will see the likes of regular raffles, prizes with VIP tickets and other unique experiences with the team.

Lúcio Barbosa, Vasco chief executive, ..

May 10, 2024

Maryland sports handle up almost 50% in April

Maryland’s sports betting market enjoyed another huge double-digit rise in revenue during April, with more than $480m (€445.3m/£383.4m) generated.

Maryland saw sports betting revenue rise by 48.1% year-on-year to $486.3m during the month. Retail accounted for $11.3m of handle, with around 98% coming from mobile.

The US state recorded hold of 10.4%, with $435.9m paid out in prizes. This was compared to hold of 10.9% in April 2023 on $292.8m. Promo play in Maryland was up from $9.0m to $11.1m.

Taxable win was at $38.0m in April, which was up on $25.8m in the prior period. This led to a 47.1% rise in the contribution to state of $5.7m. This was the fourth-best single-month total since Maryland’s online sports betting market went live in November 2022.

Maryland’s sportsbooks have collected almost twice as much handle as at the same point last year. From July 2023 through April 2024, sports wagering was up 96.7% to $4.6bn. Prizes paid out were more than double at $4.1m compared to $2.0b..

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Tag: Sports betting