Sports betting – Page 72

November 2, 2023

Maine to launch legal sports betting on 3 November

Maine will launch its legal online and retail sports betting markets tomorrow (3 November), with players able to start placing wagers from 9am local time.

Milt Champion, executive director for the Maine Gambling Control Unit (GCU), confirmed the news to iGB ahead of the launch. This comes after the Department of Public Safety (DPS) and GCU announced rules for wagering in Maine have been adopted.

Licensed operators and their management service were permitted to begin promoting their offerings from 1 November. They have also been able to accept registrations and deposits in preparation for tomorrow’s launch.

“I’d like to thank the dedicated staff at DPS, GCU, Adcare Maine Problem Gambling Services, the attorney-general’s Office and the sports wagering industry for their input and patience in the rulemaking process,” Champion said.

Long road to sports betting in Maine

The confirmed launch comes almost 18 months after sports betting was legalised in Maine.

The state’s governor, Jane..

November 2, 2023

ESPN Bet to launch on 14 November

ESPN Bet, the gaming brand backed by the sports broadcasting giant, is to launch across 17 US states on 14 November.

Penn Entertainment, which will operate the brand, made the announcement in its Q3 trading update, published earlier today. ESPN Bet’s launch is the product of a $1.5bn (£1.2bn/€1.4bn) partnership with Disney-owned ESPN, the largest sports media brand in the US. When the deal was announced in August, Penn said the brand – which replaces its Barstool Sports operation – could add up to $1.0bn to its long-term adjusted EBITDA potential.

ESPN Bet’s logo

The 14 November debut has been timed to coincide with the busy sports calendar during Thanksgiving week. Highlights include NCAA college football rivalry week and the Super Bowl rematch of the Kansas City Chiefs and the Philadelphia Eagles televised on ESPN’s Monday Night Football.

Jay Snowden, Penn’s CEO and president, said: “This strategic alliance is expected to further expand our digital ecosystem and drive re-engageme..

November 1, 2023

Seminole Tribe plans Florida sports betting relaunch in December

The Seminole Tribe of Florida has set out plans to launch sports betting, roulette and craps at all six of its casinos across the state in December.

This would signal the end of a turbulent journey for the Seminoles. The tribe agreed a new gaming compact with Florida in April 2021, with this signed off by state governor Ron DeSantis.

A series of legal challenges have prevented the Seminole Tribe from pushing forward with its expanded gambling plans earlier. However, the tribe says recent developments clear the way for it to launch.

Craps, roulette and sports betting will launch on 7 December at Seminole Hard Rock Hotel & Casino Hollywood, Seminole Classic Casino in Hollywood and Seminole Casino Coconut Creek. The Seminole Hard Rock Hotel & Casino Tampa will follow a day later.

The final two properties – Seminole Casino Immokalee and Seminole Brighton Casino – will go live on 11 December. The tribe will host a series of events to mark the occasion, with further details being announc..

November 1, 2023

Nevada gambling revenue climbs to $1.27bn in September

Gambling revenue in Nevada edged up 1.6% year-on-year to $1.27bn in September, despite a decline in slots revenue.

Revenue for the month was marginally higher than $1.25bn in September 2022. The total was also 5.0% ahead of $1.21bn in Nevada in August of this year.

Slots were again the primary source of revenue in Nevada, generating $814.6m during the month of September. However, this was 5.1% less than in the same month last year.

Multi-denomination slots were the game of choice for consumers, drawing $473.9m worth of revenue, up 5.7%. Penny slots collected $249.0m, which was 16.8% lower than in 2022.

Nevada baccarat revenue rockets 85.8%

Meanwhile, table, counter and card games revenue increased 16.6% to $456.0m. Baccarat proved most popular with players, generating $148.8m in revenue, up 85.8% on last year.

As for other games, blackjack revenue climbed 12.9% to $97.7m and revenue from craps increased 12.2% to $36.5m. However, roulette revenue slipped 8.9% to $36.9m.

There was..

November 1, 2023

How Adam Greenblatt is sharpening BetMGM’s competitive edge

Adam Greenblatt set BetMGM on a path to profitability and the business will be self-sustaining in the second half of 2023. How will he make sure the operator stays ahead in the US sports betting market as new competitors emerge?

July’s update on BetMGM’s first half performance confirmed the operator was on the path to profitability outlined by CEO Adam Greenblatt in June.

The business will be self-sustaining in the second half of the year. There will be no additional equity investment from joint venture partners MGM Resorts and Entain, beyond the $150m committed for 2023.

BetMGM CEO Greenblatt believes a new phase of competition could be imminent in the US

Greenblatt believes that BetMGM could operate as a separate business and stand on its own two feet if necessary.

“It could be a permanent state, absolutely,” he says of BetMGM as a self-sustaining entity. “[But] I think whether or not that is indeed a permanent state depends on how we want to ramp up and how quickly we want t..

November 1, 2023

DraftKings partners Passamaquoddy tribe for Maine sportsbook

DraftKings has reached an agreement in principle to partner with the Passamaquoddy tribe and launch an online sportsbook in the state of Maine.

The deal, DraftKings says, remains subject to licensing and regulatory approvals. Should it get the green light, DraftKings and the Passamaquoddy tribe will jointly launch the Maine-facing sports betting offering.

Players aged 21 and over will be able to access the DraftKings sports betting app. This offers a wide range of wagering options across various sports leagues and competitions.

The launch would mark the 25th US state in which DraftKings offers sports wagering.

“Building a relationship with the Passamaquoddy tribe is a fantastic opportunity for DraftKings, as we look to bring customers in the state of Maine safe and legal sports betting,” DraftKings co-founder and CEO Jason Robins said.

“We look forward to our continued collaboration with the Maine Gambling Control Unit as we become the official mobile sports betting provider of ..

October 30, 2023

Exploring the potential and pitfalls of AI in sports betting

Artificial intelligence (AI) poses significant opportunities and challenges in nearly every sector, including the sports betting industry. In this two-part series, Russell Karp, senior vice-president of DataArt, delves into the most promising opportunities for sports betting in an AI-driven era.

Undoubtedly, AI technology plays a pivotal role in the sports betting industry.

From enhancing data analysis and odds calculation to refining user experience and supporting responsible gaming, AI stands at the intersection of innovation and user satisfaction.

AI-based customer relationship management (CRM) systems can be used to analyse user behaviour, preferences and trends to personalise digital experiences for bettors. This helps sportsbooks gain an edge over the competition while keeping their clients happy.

However, while the benefits are clear, the incorporation of AI in sports betting is not without its challenges. These may range from security concerns and data privacy issues to eth..

October 30, 2023

Kambi scores sports betting partnership with LiveScore Group

Sports betting solutions provider Kambi Group has entered into a long-term partnership with the LiveScore Group.

Kambi will provide its sportsbook to the LiveScore group of companies, replacing a third-party supplier. This includes its sports media platform and two online betting brands.

Both the LiveScore Bet and Virgin Bet brands will run the Kambi product suite. This offering includes a sports betting platform, managed services, AI-powered trading and Bet Builder.

LiveScore Bet and Virgin Bet are currently active in a number of markets including the UK. The deal also covers the group’s subsidiaries in Gibraltar, Malta and Nigeria.

In addition, the LiveScore in-house product teams will utilise Kambi’s open APIs, incentives tools and bespoke bet offer specials.

The new Kambi-powered sportsbook will launch across multiple markets from Q1 next year. Kambi expects the agreement to contribute material revenue from the second half of 2024.

“With well-established sportsbook brands in ..

October 30, 2023

Tribal sports betting ballots filed in California

Two ballot initiatives that would give tribes exclusive rights to offer retail and online sports betting in California have been filed with the state's attorney-general.

Both ballots name Reeve Collins, co-founder and CEO of Pala Interactive, as the contact for media inquiries. Pala Interactive was founded by the Pala Band of Mission Indians in 2013 and was acquired by Boyd Gaming in November 2022.

The ballots were submitted on 27 October.

One of the proposed ballots, entitled The Sports Wagering Regulation and Tribal Gaming Protection Act, gives full detail as to how sports betting would work under tribes in California. Amending Article IV, section 19 of the California constitution, the proposal would mandate tribes to submit 15% of its adjusted sports wagering gross gaming revenue (GGR) into the tribal sports wagering revenue sharing trust fund.

Tribes would also have to contribute 10% of their adjusted sports wagering GGR into the California homelessness and mental health f..

October 30, 2023

Rhode Island sports betting handle hits six-month high in September

Players in Rhode Island spent $37.6m betting on sports in September, the highest monthly total since March but lower than last year.

The figure is 9.8% less than the $41.7m spent in Rhode Island in September 2022. However, it is 67.1% more than $22.5m in August this year and the highest total for six months.

Of this total, $28.7m was spent betting online and $9.0m at retail sportsbooks. Land-based wagers were placed at physical facilities at Twin River and Tiverton Casino. Twin River took $5.7m in bets and Tiverton Casino $3.2m.

September sports betting revenue reaches $3.5m

Revenue from sports betting in Rhode Island increased by 150.0% month-on-month in September to $3.5m. This was, however, 45.3% lower than $6.4m in September 2022.

Online betting accounted for $2.8m of all revenue during the month. Retail’s share was $663,538, split between Twin River and Tiverton Casino. Twin River posted $441,485 in revenue and Tiverton Casino $222,053.

Rhode Island players won a total of $3..

October 30, 2023

Detroit casino revenue slips to $101.6m in September

The three commercial casinos in Detroit, Michigan posted $101.6m in revenue in September, down on the same month last year and lower than August’s total.

Monthly aggregate revenue in Detroit was 1.7% lower than $103.4m September of 2022. It was also 3.2% behind $104.9m in August of this year.

Of this total, some $100.0m came from table games and slots, a 0.8% decline from last year and down 4.4% from August.

Retail qualified adjusted gross receipts (QAGR) in September amounted to $1.6m. This was 39.4% less than the previous year but 396.6% ahead of just $322,186 in August this year. Betting handle for the month amounted to $18.1m.

MGM leads in Detroit with 44% market share

Looking at individual casino performance, MGM remains the market leader in Detroit by some distance. MGM had a market share of 44% in September, with $44.7m in table games and slots revenue and $43,528 in sports betting QAGR.

MotorCity placed second with a market share of 31%. The casino posted $31.0m in table ..

October 30, 2023

Asian Games boosts Chinese lottery figures in September

The Asian Games in Hangzhou and new instant win games triggered a lottery revenue surge in China in September.

China’s state lottery saw a 58.3% rise in total lottery ticket sales to CNY52.8bn ($7.2bn/€6.8bn/£5.9bn) in September, according to figures released by the ministry of finance.

The most notable rise was in guess lottery sales – effectively sports betting – which grew by 70.1% year-on-year to CNY21.9bn. The ministry said the increase in major events such as the multi-sport Asian Games, which began during the final week of the month, was behind the surge.

The ministry of finance said the launch of new instant lottery tickets and the expansion of new channels also accounted for growth during the month. Lotto digital lottery sales were up 15.0% to CNY14.9bn, while instant lottery sales grew by 152% to CNY12.5bn. Keno lottery sales were up 36.9% to CNY34.9bn.

In September, the sales volume of Lotto digital, guessing, instant and Keno lottery tickets accounted for 28.2%, 41.5%,..

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Tag: Sports betting