Sports betting – Page 7

October 18, 2024

Digital growth pushes year-to-date revenue to €2.10bn at FDJ

La Française des Jeux (FDJ) has reported an 11.9% year-on-year increase in revenue for its financial year-to-date, driven by growth within its digital business, while the group has set out full-year expectations after completing its acquisition of Kindred.
Publishing figures for the nine months to September, FDJ said revenue amounted to €2.01bn (£1.67bn/$2.18bn). This includes lottery, sports betting and igaming operations, as well as international and payment services.

The French monopoly operator reported growth across all areas of the business, although it saw the largest rise within its sports betting and igaming segments.

“FDJ continues to deliver a solid financial and non-financial performance,” FDJ chairwoman and CEO Stéphane Pallez said.

“This performance was driven both by the lottery and by sports betting and online gaming open to competition and by all our distribution channels, with a network of points of sale in progression and strong momentum from digital games.”

Grou..

October 17, 2024

AGCO fines NorthStar Gaming CA$30,000 for geolocation fail

NorthStar Gaming's NorthStarbets.ca is available to consumers outside of Ontario, the Alcohol and Gaming Commission of Ontario (AGCO) discovered. In a Wednesday (16 October) press release, the agency announced that it is fining NorthStar CA$30,000 (US$21,741/£16,712/€20,082)) for the violation.
Wagering and igaming platforms in Ontario are required to use geolocation services to ensure customers are located within the province. In August 2021 the Canadian government announced it was decriminalising single-event wagering. Ontario so far is the only province in which commercial online gambling is available.

Other provinces offer digital gambling through their lotteries, but do not yet have open, competitive markets. The expectation is that the next province to launch digital gambling will be Alberta.

According to the AGCO, it discovered the violation during a “third-party assessment” earlier this year. “Tests were conducted from physical locations in Quebec and New York state t..

October 17, 2024

Bovada may feel hit of exiting US markets more for igaming than wagering

Analysing the financial blow to the offshore operator now that it is blocked in 15 jurisdictions.
Bovada could see a significant financial impact from 15 US markets – and counting – sending it cease-and-desist letters.

But maybe not in the way you would expect, according to one gambling expert.

Massachusetts recently sent a cease-and-desist letter to Bovada, the offshore betting megasite, joining Kansas, Pennsylvania and Louisiana as recent additions to its list of restricted markets. Anyone can find that list on its website under the “Which Countries are Restricted?” section – which only includes US markets and no other locations around the world.

These are the markets on that list (Massachusetts isn’t on there yet, but it should be soon):

Colorado
Connecticut
Delaware
Kansas
Louisiana
Maryland
Michigan
Nevada
New York
New Jersey
Ohio
Pennsylvania
Washington, DC
West Virginia

68% of regulated US sports betting market
The American Gaming Association estimated that Americans bet $6..

October 16, 2024

Tribes: Sweepstakes the latest threat to sovereignty, exclusivity

Angry and concerned that sweepstakes operators are another existential threat to sovereignty and gaming exclusivity, Indian Country is gearing up for a fight.
“This falls squarely on the tribes again,” Victor Rocha, editor of Pechanga.net, said during his weekly webinar on Wednesday (16 October). “If they don’t react, no one will. We thought it was over, but here we go again. We’re not saying you can’t come into California, we’re just saying that you have to do it through the tribes.

“We will take on that fight anytime, anywhere, anyhow. It’s brand new, it’s right on our platter and we’ll address it.”

Rocha, who hosts the ‘New Normal’, was joined by California Nations Indian Gaming Association (CNIGA) chairman James Siva and National Indian Gaming Commission (NIGC) executive director Jason Giles. A week removed from the Global Gaming Expo (G2E) where sweepstakes were the talk of the industry, Rocha opened by sharing his anger and frustration that another group of “unlicensed” and “..

October 16, 2024

Massachusetts sets betting handle and revenue records in September

The Massachusetts Gaming Commission (MGC) reported record sports betting handle and revenue during September, with the Bay State posting year-on-year growth across both its online and retail segments.
During September, handle in Massachusetts hit $678.7m (£519.1m/€623.1m). This is a new monthly high for the state, surpassing the existing record of $658.7m set in December last year.

The September number is up from $512.2m in September last year, according to the MGC, and ahead of the August handle of $447.3m. Online spend amounted to $667.7m, with retail sportsbooks processing $11.1m.

As for revenue, this amounted to $73.5m, surpassing January’s previous $71.1m record. It also beat last September by 47.6% and August by 120.7%.

Online betting contributed $72.2m to the revenue total, while $1.3m came from the retail sector.

In terms of hold, the state-wide figure for Massachusetts during September was 10.83%, based off taxable revenue. The state collected $14.6m in tax, with almost ..

October 16, 2024

Arizona sports betting market up YoY, but down against June

Arizona endured a somewhat mixed month in July as both handle and revenue were higher year-on-year in the Grand Canyon State, but the market shrank month-on-month.
Players wagered $410.1m (£313.7m/€376.6m). This is up against $323.2m July last year but down against $454.1m June this year. Of the July handle, $404.8m was spent betting online and $5.4m at retail sportsbooks.

The Arizona Department of Gaming (ADoG) also reported $41.5m in adjusted gross revenue prior to free bets. After deducting $12.5m in promotional wagers, this left $29.0m in adjusted gross revenue.

Monthly revenue beat July last year by 8.2% but, coincidentally, also fell 8.2% short of June’s total. This amount includes $28.7m in online betting revenue and $283,928 from the retail sector. Sportsbooks paid the state a total of $2.9m in taxes. Digital revenue is taxed at 10% and retail revenue is taxed at 8%.

This meant Arizona had a state-wide hold of 7.07% for the month.

DraftKings retains the lead in Arizona
Brea..

October 15, 2024

Presidential politics could alter gambling expansion landscape in multiple states including Texas

Three weeks from today, US voters will elect a new president. Whoever the winner is, there's likely to be a change in the gambling political landscape in multiple states.
Should Donald Trump become president, there are at least two states – Arkansas and Texas – that could be most affected when it comes to gambling expansions. And if Kamala Harris wins the election, there are another two states in which change could moderately affect the current gambling climate.

Trump could tap Texas governor Greg Abbott or lieutenant-governor Dan Patrick for his cabinet. Either one of those appointments is a potential game changer in the second-biggest state in the US. And in Arkansas, Governor Sarah Huckabee Sanders is a former Trump White House press secretary, so it seems possible that she would be on a short list for another appointment.

Harris’ running mate, Tim Walz, is the current governor of Minnesota. Walz has been supportive of an expansion of gambling and that likely wouldn’t chan..

October 15, 2024

US sports betting round-up: Indiana, Iowa and Delaware in September

Rounding up some of the latest monthly sports betting results in the US, iGB takes a look at how Indiana, Iowa and Delaware performed in September. Delaware also reported igaming numbers.
Revenue and handle growth in Indiana
Starting in Indiana, consumers spent $483.8m (£369.5m/€443.5m) betting on sports during September. This is 19.7% more than the same month last year and 57.1% ahead of August this year.

American football drew the most sports bets at $175.4m, driven by the start of the NFL and college football seasons. Baseball ranked second with $54.5m, while parlay bets totalled $164.4m.

The Indiana Gaming Commission also reported taxable adjusted gross revenue (AGR) in September reached $53.0m. This beats last year’s total by 29.0% and August by 65.1%.

As such, Indiana was left with a state-wide hold of 10.95% for the month.

DraftKings remains the market leader. It posted $19.3m in revenue off a $190.3m handle for a hold of 10.14%. FanDuel remains second with $18.2m from $148..

October 14, 2024

New York sports betting revenue slips despite higher September spend

Mobile sports betting gross gaming revenue (GGR) in New York declined year-on-year in September despite the Empire State reporting an increase in handle.
Total sports betting handle in New York during September was $1.80bn (£1.38bn/€1.65bn). This is 2.3% up on last year and 25.0% ahead of August this year.

Data released by the New York State Gaming Commission this week also shows GGR in September amounted to $159.4m. The monthly total is down 3.7% year-on-year but is 27.5% more than August.

This resulted in a state-wide hold of 8.86% for the month.

DraftKings still the one to beat
Looking at individual operators, DraftKings remains some way out in front. For September, DraftKings generated $69.7m in revenue off a $788.3m handle, leaving an 8.84% hold.

Flutter-owned FanDuel was again second, reporting $52.6m in revenue from $511.6m in total bets. Hold was 10.28%.

Caesars was the next closest challenger with $13.0m off a $147.2m handle, leaving an 8.83% hold. BetMGM was next on $10..

October 14, 2024

Tribes acknowledge Oklahoma wagering bill coming but is there a path forward?

At the Global Gaming Expo (G2E) last week Matt Morgan, head of the Oklahoma Indian Gaming Association (OIGA), said that while tribes are open to discussing the future of sports betting, they'll stand still until Governor Kevin Stitt moves on or changes his position.
Stitt, who became Oklahoma’s governor in 2018, has had a difficult relationship with Indian country. He has been sued by lawmakers over compact negotiations and has alienated the tribes by trying to dictate what legal wagering will look like without considering sovereignty or exclusivity.

Oklahoma is the second biggest tribal market in the US behind California and has a robust land-based casino industry. The state’s 39 tribes operate more than 125 gaming locations, including some that draw customers from neighbouring Texas. But legal sports betting remains elusive.

The tribes have exclusivity for gaming in Oklahoma. Despite that, Stitt last year outlined a legal wagering framework that included tribal and commerci..

October 14, 2024

Weekend Report: Bet365 enters Peru, South Korean celebrities caught up in illegal betting case

Welcome to the Weekend Report, where iGB looks at the news that you may have missed across Friday, Saturday and Sunday. This week: Bet365 launches in Peru, a Pakistan cricket legend is under fire for new ambassador role and South Korean celebrities are swept up in illegal gambling.
Pakistan cricket legend faces backlash over betting ambassador role
Starting in Asia, Pakistan cricket captain Wasim Akram has come under fire for taking on a new betting ambassador role with Baji.

India-facing Baji offers online sports betting and casino and has enlisted several celebrities to help promote its services. Akram is among those to come on board despite Pakistan having placed restrictions on promoting gambling.

Fans took to social media to criticise Akram after he shared a promotional video on social media. Questions were also raised as to why Akram is working with an operator that is not licensed in Pakistan.

Bet365 makes Peru move
Meanwhile, in South America, Bet365 has announced the launc..

October 12, 2024

G2E: Let’s make a deal! Minnesota stakeholders have “framework” but politics still in play

Buried under the news that California tribes could bring a sports betting initiative as soon as 2026 is this: Minnesota's stakeholders have brokered a deal.
Minnesota Indian Gaming Association (MIGA) executive director Andy Platto was among the panelists who joined California Nations Indian Chairman James Siva on Tuesday (8 October) on a Global Gaming Expo (G2E) panel entitled ‘Tribal Sovereignty and Sports Betting: A Delicate Balance’.

Minnesota lawmakers have been trying for multiple sessions to legalise retail and digital sports betting. It never got a vote this year, but did get through the house in 2022.

Platto, who heads up the state’s tribal alliance, has been the face and voice of Indian Country. Over time, that has meant managing relationships with charitable gaming folks, horse racetracks and, more recently, professional sports teams. The tribes in Minnesota have exclusivity for gaming in the state and already operate land-based casinos.

But legal wagering, partic..

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Tag: Sports betting