Sports betting – Page 77

October 4, 2023

Fanatics completes PointsBet US purchase in New York and Wyoming

Fanatics Betting and Gaming (FBG) has edged closer to taking full control of PointsBet US after completing the acquisition of its operations in New York and Wyoming.

PointsBet New York LLC has been transferred to FBG. This follows the satisfaction of certain conditions in the state including approval from the New York State Gaming Commission.

Meanwhile, ownership of PointsBet Wyoming LLC has also transferred to the FBG division of sports retail giant Fanatics.

Transfer of additional US state operations to FBG will take place as approvals are obtained in each state. PointsBet says subsequent completion in this market is tracking as planned.

The double completion come after PointsBet last month also secured approval for acquiring PointsBet US in eight other states. These comprise New Jersey, Pennsylvania, Colorado, Iowa, Kansas, Maryland, Virginia and West Virginia.

PointsBet will continue to operate in Illinois, Indiana, Louisiana, Michigan and Ohio until FBG closes on selected sta..

October 3, 2023

Novig to launch in Colorado with new licence

Commission-free sports betting exchange Novig has set out plans to launch in Colorado after securing a licence in the Centennial state.

The Internet Sports Betting Operator licence from the Colorado Division of Gaming will allow Novig to roll out its offering in Colorado. The operator will partner with Full House Resorts and its Bronco Billy’s Casino property in Cripple Creek.

Novig is building a commission-free, high-frequency sports betting exchange. However, until exchange betting is approved in Colorado, Novig will be active as a sports betting operator.

The operator will initially offer football, basketball, baseball and college sports markets before expanding to more sports next year. Users can place bets on the moneyline, point spread and game totals, both pre-game and in-game.

“We’re thrilled to kick off our journey in the vibrant sports betting landscape of Colorado,” Novig co-founder and CEO Jacob Fortinsky said. “We’d like to thank the Division of Gaming for their help t..

October 3, 2023

Mobile gaming dashboard powered by H2

iGB’s principal data partner H2 Gambling Capital provides headline metrics on the global mobile igaming market, with forecasts now extended to 2028.

Last updated 03/10/2023

October 3, 2023

Rhode Island sports betting revenue declines in August

Sports betting revenue in Rhode Island slipped to $1.4m in August while the state’s handle was also down month-on-month and year-on-year.

Revenue was 53.3% lower than $3.0m in August 2022 and 26.3% behind $1.9m in July this year. This is according to data from the Rhode Island Lottery.

Of this total, mobile betting accounted for $1.2m of all revenue, with $144,099 coming from the retail market. Twin River’s revenue hit $234,649 but a $90,550 loss from Tiverton Casino pushed the total retail figure down.

Sports betting handle hits $22.5m

Turning to player spending and sports betting, handle in Rhode Island for the month reached $22.5m. This was 18.8% lower than $27.7m last year but 11.4% more than $20.2m in July of this year.

Consumers wagered $17.7m online and $4.8m at retail sportsbooks in the two-month period. Twin River took $2.8m in bets at its retail betting facility while Tiverton Casino took $1.9m.

Looking at the state’s performance in its financial year to date, revenue c..

October 3, 2023

Kambi pens multichannel sportsbook deal with Svenska Spel

Sports betting solutions provider Kambi Group has entered into a long-term, multichannel sportsbook partnership with Swedish operator Svenska Spel Sport & Casino.

Under the deal, Kambi will use its Complete sports betting product to power Svenska Spel’s online and retail sportsbooks. Kambi subsidiary Shape Games will also power the front end of the operator’s new sportsbook.

Kambi says it expects the new agreement to have a meaningful financial impact from the second half of 2024.

Founded in 1997, state-owned Svenska Spel has both an online presence and runs a network of approximately 5,000 retail outlets. Svenska Spel selected Kambi as its new sports betting partner after the tender process.

“It has been an extensive process,” Svenska Spel’s head of product for sports betting, Dan Korhonen, said. “We have evaluated a number of different alternatives and we feel we have found the perfect partner in Kambi.

“This partnership will further strengthen our offering. We look forward to ..

October 2, 2023

Nevada gambling revenue level year-on-year at $1.21bn in August

Gambling revenue in Nevada remained level year-on-year in August at $1.21bn, although the US state reported a month-on-month decline.

Revenue was in line with the $1.21bn posted in August 2022. However, this was 14.3% lower than $1.40bn in July in Nevada this year.

Slots drew $829.2m of all revenue in August, down 2.1% on last year. Multi-denomination slot games generated $479.3m in revenue and penny slots $256.9m.

Elsewhere table, counter and card games revenue increased 5.2% to $380.1m. Baccarat led the way with revenue of $116.2m, some 21.0% ahead of $96.7m in August 2022.

Blackjack was the next highest source of revenue across table, counter and card games at $99.1m, down marginally from $100.0m in the previous year. Roulette revenue jumped 20.5% to $39.9m but craps revenue slipped 7.4% to $36.2m.

Nevada sports betting revenue up 12.4%

Turning to sports betting, revenue from sports pool wagering jumped 12.4% to $18.1m. All sports betting is reported as part of table, counter ..

October 2, 2023

Super Group exits India over new online betting tax

Betway operator Super Group has withdrawn from the Indian market in response to a new online gambling tax rate that came into effect this month.

Operators are now having to pay a flat 28% turnover tax for online gambling, casino and horse race betting. The rate came into effect yesterday (1 October) after being announced by the Goods and Council Tax Council (GST) in India in July.

Super Group says the new rules mean the Indian market is no longer commercially viable for the business. As such, it has dropped all services with immediate effect.

“We are continuously evaluating evolving regulatory landscapes across the many markets we serve,” Super Group CEO Neal Menashe said. “Informed by years of operating our geographically diverse business, we remain confident about the long-term growth opportunities in front of us.”

Super Group adds that despite the exit, full-year financial projections are unchanged.

Industry body blasts higher rate

Tax will be applied to the full-face value o..

October 2, 2023

FDJ completes acquisition of ZEturf

French national lottery operator Française des Jeux (FDJ) has finalised its acquisition of online horse racing betting site ZEturf Group.

The announcement completes a process that began in November last year when FDJ struck the acquisition deal. The transaction places ZEturf’s value at €175.0m (£151.6m/$185.0m).

Completion comes after the French Competition Authority (l’Autorité de la Concurrence) gave its approval to the deal last month.

Founded in 2001, ZEturf employs approximately 100 people and generated over €50.0m in revenue in 2022. Alongside online horse race betting, it offers internet sports betting via the ZEbet brand.

“The acquisition of ZEturf marks a new chapter for FDJ,” CEO and chairwoman of FDJ, Stéphane Pallez, said. “It strengthens our position in the French market for online games open to competition.

“Following the launch of our poker business, our entry into the world of online horse-race betting rounds out our diversified online range and bolsters FDJ Group..

September 29, 2023

DC Circuit denies West Flagler’s motion to stay

The US Court of Appeals for the DC Circuit has denied West Flagler Associate's motion to stay.

The motion, which was filed last week, was objected to by the US Department of the Interior (DOI) earlier this week (26 September).

West Flagler’s request to stay was its latest attempt to block the Seminole Tribe of Florida from rolling out Hard Rock Bet. The Seminoles were permitted to exclusively offer sports betting in Florida in May 2021. This was after Florida’s governor, Ron DeSantis, approved a compact agreement with the tribe.

The DC Circuit Court of Appeals filed the denial yesterday (28 September).

“Upon consideration of appellees’ motion to stay issuance of the mandate pending the Supreme Court’s disposition of a petition for writ of certiorari or, in the alternative, to stay issuance of the mandate for a reasonable time to permit appellees to seek a stay from the Supreme Court, and the opposition thereto, it is ordered that the motion be denied,” read the filing.

Gary B..

September 28, 2023

Kambi scores extended sportsbook deal with Sweden’s ATG

Kambi Group has signed a multi-year extension to its sportsbook partnership with Swedish horse racing and sports betting operator AB Trav och Galopp (ATG).

Under the deal, which extends a relationship that began in 2018, Kambi will provide ATG with its complete sportsbook. This covers sport betting across online and ATG’s retail network of nearly 1,500 outlets in Sweden.

Kambi has been able to renew the partnership after recently securing new approvals in the Swedish market. The provider picked up its B2B gambling permits in June in line with new regulations in the country that require suppliers to hold a B2B licence.

“Our strategy has always been to power market leaders or those with the potential for market leadership,” Kambi co-founder and CEO Kristian Nylén said. “In ATG we have a valued partner that has achieved just that since launching with Kambi in 2019.

“A sportsbook which offers the flexibility for operators to differentiate is vital in such a highly competitive market. ..

September 28, 2023

Kentucky opens legal online sports betting market

Kentucky will today (28 September) launch legal online sports betting, just weeks after the state also opened its regulated retail wagering market.

Governor Andy Beshear signed off on House Bill 551 in April, legalising both online and retail betting. The retail market opened on 7 September, with online delayed until today as part of a staggered launch.

Each of Kentucky’s racetracks can partner with up to three online operators as well as offer on-site retail betting. Last month, the Kentucky Horse Racing Commission (KHRC) approved sports betting licences for a number of operators.

For the online market, the initial seven operators that applied secured a service provider licence. Bet365, BetMGM, Caesars, Circa, DraftKings, FanDuel and Penn Sports Interactive all picked up licences.

Fanatics, which did not appear on the original list, was also approved to launch online sports betting. In addition, the KHRC issued a service provider licence to Kambi, although this only covers retail ..

September 28, 2023

Betsson secures online sports betting licence in France

Betsson has set out plans to launch in France after securing a licence to offer online sports betting in the country.

The operator says it will collaborate with a local partner in France to support its venture into the country’s regulated market.

Betsson did not reveal the identity of its new, France-facing partner but did confirm that it intends to go live in the country during the fourth quarter. The operator also says it will be active in France under the core Betsson brand.

“I’m pleased that Betsson has obtained a licence to offer sports betting in France,” Betsson president and CEI Pontus Lindwall said. “It is an important gaming market in Europe with great long-term potential for online gaming.

“By combining our knowledge and experience as a global gaming operator with the local expertise of our partner, we can offer an unbeatable customer experience in sports betting in France.”

Ongoing expansion at Betsson

Betsson says the launch links in with its wider expansion strate..

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Tag: Sports betting