Sports betting – Page 43

April 10, 2024

Spain Supreme Court overturns gambling ad restrictions

Spain’s Supreme Court has partially upheld a Spanish Digital Gaming Association (Jdigital) appeal against Royal Decree 958/2020, with restrictions such as bans on celebrity advertising annulled.

The Spanish Royal Decree 958/2020 entered into force in November 2020. The regulations looked to reduce minors’ exposure to gambling advertising in Spain by banning aspects such as sponsorship deals with operators.

The measures faced backlash from the industry, with the Spanish Digital Gaming Association (Jdigital) launching an appeal against the Royal Decree. This appeal was rejected in November 2023 by the Spanish Constitutional Court.

In reviewing the law, however, the Supreme Court has now annulled several of the measures outlined in the Royal Decree, partially upholding the appeal.

As a result, multiple measures have been overturned, including article 13, which relates to targeting advertising towards new customers.

This means that Spanish operators will be allowed to market to playe..

April 10, 2024

France regulator ANJ notes “significant progress” in problem gambling prevention

L'Autorité Nationale des Jeux (ANJ), the gambling regulator in France, has noted “significant progress” in reducing problem gambling in its review of operators’ action plans.

Since a 2019 ordinance, all operators in France must submit an annual plan to prevent “excessive” and underage gambling. The ANJ then reviews those action plans. The aim is to increase dialogue between operators and the regulator on the issue.

The ANJ observed that the market has made palpable progress on preventing excessive gambling. Actions have been taken to raise awareness, such as messages to players and dashboards.

Protection standards for identification and support for problem gamblers has increased. The number of at-risk players identified and then supported has risen. The majority of operators implementing improved support measures and excluding players who have been identified as most vulnerable to commercial rewards has also gone up.

ANJ: Problem gambling still too high in France

fdj submitte..

April 10, 2024

Record handle fails to halt Maine sports betting revenue decline in March

Sports betting revenue in Maine declined for the third consecutive month in March, despite players wagering a record $47.6m (£37.5m/€43.8m).

Monthly handle in March was 40.8% higher than the $33.8m spent in February. It was also the highest total since Maine opened its legal market in November last year.

However, adjusted gross receipts from sports wagering totalled $2.7m, down 41.9% from $4.3m in February. Incidentally, this was also the lowest monthly amount since Maine launched regulated betting.

Adjusted gross receipts is the remaining total after subtracting voided and cancelled bets, player winnings and federal excise tax from handle. Maine’s current record for this figure is $4.6m, set in November.

Tax revenue for the state in March amounted to $270,607. Players in Maine won a total of $44.6m.

DraftKings the clear leader in Maine

Maine currently has just two licensed sports wagering operators – DraftKings and Caesars. Both offer sports betting in the state via tribal partn..

April 10, 2024

Operator-branded platforms won’t have a home in legal California wagering

In Anaheim on Tuesday (9 April) a diverse group of tribal leaders said during an Indian Gaming Association panel that they feel an “urgency” but not a rush to get sports betting legalised in the state.

But don’t expect platforms like BetMGM, Caesars Sportsbook, DraftKings, ESPN BET, Fanatics Sportsbook or FanDuel to have operator-branded platforms in the state.

“I can tell you what they won’t be,” California Nations Indian Gaming Association (CNIGA) chairman James Siva said. “They won’t be operators in the state. If they want to be partners like the slot companies we work with, then we can do that. I think they are starting to come around.

“And I think urgency is the right word… but right now, while it’s urgent, we won’t be hurried and we will make decisions based on real data. We are going to make sure we stay united in purpose. Keep that urgency in the back of your mind, because we need to do it, but we need to do it right.”

FanDuel apology tour continues

Earlier in the day, Fa..

April 10, 2024

Detroit casino revenue edges up to $123.9m in March

The three commercial casinos in Detroit reported $123.9m (£97.7m/€114.2m) in revenue during March, a 3.9% increase on the previous year.

Revenue in March was clear of the $119.2m posted in the same month last year. March’s total was also 18.5% ahead of the $104.6m recorded in Detroit in February this year.

Some $122.3m of this amount came from slots and table games, up 3.8% year-on-year and 16.7% higher than February.

In comparison, retail sports betting qualified adjusted gross receipts (QAGR) reached just $1.6m. However, this total was 13.2% ahead of last year and a stark improvement on the $120,142 loss reported in February.

MGM continues to lead the Detroit market

MGM Grand Detroit remains some way out in front in terms of market share in Detroit. The casino reported a 46.0% market share in March.

MGM posted $56.7m in table games and slots revenue, up 4.1%, while sports betting QAGR reached $327,857.

MotorCity Detroit placed second with a 31.0% share of the market. Revenue ..

April 10, 2024

Colorado sports betting revenue down despite handle increase in February

Sports betting revenue in Colorado declined 27.1% to $25.8m (£20.3m/€23.8m) in February, despite the Centennial State reporting an increase in player spending.

Revenue was down year-on-year from $35.4m in February 2023. Colorado’s monthly total was also 51.8% less than the $53.5m posted in January of this year.

Online betting generated $25.9m in gross gaming revenue in February. However, a $144,982 loss from retail betting pushed the monthly total down slightly.

This decline came despite handle in Colorado climbing 8.6% from $494.4m in February last year to $537.0m. However, this figure was 10.0% behind the $596.7m bet during January.

Online wagers for the month amounted to $533.5m, while a further $3.5m was bet at retail sportsbooks across the state.

Basketball the sport of choice for Colorado bettors

Breaking down the market sport by sport, basketball proved the most popular with Colorado players in February. Some $229.8m was bet on basketball during the month, accounting for s..

April 10, 2024

Howe: California sports betting will be done “with and through” state tribes

FanDuel CEO Amy Howe extended an olive branch to California tribes in a panel discussion Tuesday (9 April ) morning at the Indian Gaming Tradeshow & Convention, acknowledging that any future of California sports betting will be done “with and through” tribal operators.

Howe was joined onstage by CNIGA chairman James Siva as well as Jacob Mejia, director of public affairs for Pechanga Development Corporation, both of whom lauded the CEO for being willing to engage in such discussion after the two sides’ previous vitriol.

FanDuel, DraftKings and other commercial operators burned hundreds of millions in 2022 by lobbying for and promoting Proposition 27, an initiative that would have legalised online sports betting in California but was soundly rejected by state voters.

Tribes did offer their own initiative – Proposition 26 – that was also rejected by voters, however tribal leaders have maintained that the overall goal was to oppose and defeat Proposition 27 rather than promote and p..

April 10, 2024

Solving sports betting – the AI way

The advent of AI-assisted products in the sportsbook space appears to offer up the prospect of an epoch-changing leap forward in risk management. But does it mean that margin volatility will become a thing of the past? Not quite yet, suggest the experts. But the product is developing fast.

Buzz phrases don’t get much buzzier than “AI-assisted”. The mere mention of the phrase either prompts excited optimism about a tech-driven future – or a very real fear of the same.

In the betting and gaming space, the use of artificial intelligence may not quite engender the apocalyptic visions of the AI naysayers in the wider world. But it still appears to offer the possibility of very much changed business practices.

the advent of ai could herald huge change for sports betting, writes Scott Longley

Notably, given the central importance of data to any potential machine learning or AI developments, it is the two leading sports data collection entities that are leading the charge.

The pair launc..

April 9, 2024

CDI completes United Tote stake sale to NYRA

Churchill Downs Incorporated (CDI) has finalised the sale of a 49% stake in its United Tote subsidiary to the New York Racing Association (NYRA).

The deal, agreed in August 2022, sees NYRA Content Management Solutions, a subsidiary of the NYRA, acquiring the stake. Financial terms of the United Tote sale were not disclosed by CDI.

United Tote primarily supplies totalisator systems, services and equipment. It also provides a range of technology services to process bets and pay-outs and pari-mutuel tote services.

The original deal said CDI would work with NYRA to provide a pari-mutuel solution through United Tote to reach customers. It was also agreed the United Tote pari-mutuel settlements business would be excluded from the sale and remain with CDI.

NYRA is a not-for-profit corporation that operates the three largest thoroughbred horse racing tracks in New York. These include Aqueduct Racetrack in South Ozone Park, Queens; Belmont Park in Elmont; and Saratoga Race Course in Sarato..

April 9, 2024

Maryland online casino is dead. What else is left for 2024 US gambling expansion?

The old adage “in like a lion, out like a lamb” is an apt comparison for the prospects of online casino in Maryland.

While interest and discussion weren’t limited to March, as far back as last autumn, operators, vendors, suppliers, consultants, lawmakers and many others in the US gambling landscape were shouting about the prospect of Maryland legalising online casino.

On Monday (8 April) those prospects went out without a peep when the general assembly adjourned with no action on gambling.

Failed Maryland gambling expansion second key loss in 2024

The loss, as the gambling industry will see it, is the second key one this session. Ten days earlier, the Georgia general assembly ended its term without legalising digital sports betting. That meant the two states projected to have the best chance at a gambling expansion failed to produce.

In Georgia, lawmakers remain bogged down in how to spend proceeds rather than whether or not to support the legislation. Negotiating went on nearly ..

April 8, 2024

Belgium report warns of impact of over-regulation on channelisation

A report from Belgium-based operator Gaming1 has highlighted concerns over the effect of over-regulation on channelisation.

On 1 July 2023, Belgium introduced a near total ban on gambling advertising. This was after a consortium of sports teams and gaming operators were defeated in a last-ditch legal bid challenging the royal decree.

The ban faced backlash, with Belgium gambling trade body Bago highlighting the government’s decision to act against the advice of the country’s Gambling Commission when imposing the ban.

Gaming1’s report has now outlined the impact of the royal decree on channelisation towards legal operators in Belgium.

Gaming1 pointed to surveys conducted by Nepa in 2023. The studies found a 6% rise in online players using an illegal website in the past three months following the royal decree, as well as a 4% increase on deposits made on illegal gaming websites.

In its report, Gaming1 highlighted the results of two major studies. The first from the Belgian Gaming Co..

April 8, 2024

Legalising sports betting in Minnesota just got a lot trickier

The path to legal sports betting in Minnesota got a whole lot more complicated last week when the state racing commission gave its blessing for historical horse racing and several new gambling bills were filed.

Since the start of the session, Senator Matt Klein and Representative Zack Stephenson have been shepherding their state-wide, online mobile bills through the state’s long committee process. Stephenson brokered a deal between the tribes and charitable gaming to take one long-standing barrier to legal sports betting in Minnesota out of the way.

And then came 1 April when Minnesota’s horse racing commission voted to allow historical horse racing at horse tracks. Some say this is a violation of the state’s exclusivity agreement with the tribes and others say is outright illegal. The machines look similar to slot machines and in most jurisdictions are considered games of chance. This is also an area for which the tribes have exclusivity.

Whatever the situation, the decision has ..

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Tag: Sports betting