July 12, 2022

July 12, 2022

California Democrats endorse “no” vote on online betting measure

The California Democratic Party has recommended that those in the state vote against a proposal that would legalise online betting.

The party – which dominates California elections, having controlled both houses of the state legislature since 1996 – announced its official list of endorsements for ballot measures that will appear in the 2022 November election.

That election will include two ballot measures related to sports betting. Tribe-backed Proposition 26, titled the California Legalize Sports Betting on American Lands Initiative. would allow for retail sports betting only on tribal lands.

Read the full story on iGB North America

July 12, 2022

Court unlikely to make decision on Florida sports betting until 2023

The US Court of Appeals for the District of Columbia has set out a timeline for the case that will determine the future of online sports betting in Florida, making it unlikely that any decision will be made until 2023.

The lawsuit – submitted by pari-mutuel operator West Flagler Associates – deals with the question of whether the Seminole Tribe is permitted to offer online sports betting statewide through a new tribal compact that came into effect last year.

The Florida constitution says that an expansion of gambling on non-tribal lands would require a referendum, but the Tribe contends that online bets placed on non-tribal lands would not violate this clause, as they would be accepted via servers in Seminole territory.

Rather than being against the tribe though, the lawsuit is filed against Debra Haaland, Secretary of the United States Department of the Interior, which reviews and approves all tribe-state compacts in the US. As a result, it is being heard in the US Court of Appeals..

July 12, 2022

NFL’s Bengals apply for Ohio betting licence

NFL franchise the Cincinnati Bengals has applied for a sports betting licence in the state of Ohio, as have FanDuel and Fanatics.

The team becomes the fifth business – but the first professional sports team – to apply for an Ohio operator licence. It is the fourth to apply for approval as a type-A sports gaming proprietor – which would allow it to offer an online product – following Jack Cleveland Casino, Thistledown Racino and Hall of Fame Village.

Those other three business all also applied for a type-B licence, which would also allow for operation of a retail betting facility.

Elys Technology, meanwhile, has applied for a type-C licence, allowing for operation of sports betting at a licensed bar.

Read the full story on iGB North America

July 12, 2022

888 raises €700m to pay off William Hill debts

Online gambling operator 888 will raise €700m through a notes issue related to its acquisition of William Hill’s non-US business, despite reports last week that banks had struggled to sell on its debts.

The business will offer €400m worth of notes with an aggregate principal of 7.558%, due in 2027 plus €300m at a floating interest rate, due in 2028.

These notes form part of a wider financing plan as part of the operator’s recent £1.95bn acquisition of William Hill’s non-US business, also including revolving credit facilities and bonds.

These bonds, though, were subject to some uncertainty. 888 had issued the bonds underwritten by banking giants JPMorgan and Morgan Stanley. These banks then intended to sell the bonds onward to investors, but allegedly found little appetite amid ongoing uncertainty related to the Gambling Act review, which is set to have a very large impact on 888 due to its large exposure to Great Britain.

A white paper, a key next stage of the review, was expected ..

July 12, 2022

Delasport secures new licences for Great Britain launch

Online gambling solutions provider Delasport has secured two new licences to roll out its products and solutions in the British market.

The B2B remote gambling software licence and remote betting host real events licence will allow Delasport to provide approved operators in Britain with access to its sportsbook and services.

Delasport’s iFrame and sportsbook offering, includes betting coverage of over 125 sports, 100,000 pre-match events, and 70,000 monthly live events across more than 3,000 markets, as well as personalisation tools such as geolocation content, favourites and personal trader.

The British launch marks Delasport’s seventh market entry in the past six month, with the provider having also gone live in the Netherlands, Sweden, Malta and Denmark this year, as well as securing approval in both Mexico and Germany.

“Entering the British market is the latest in a line of significant victories for our global expansion,” Delasport chief executive Oren Cohen Shwartz said. “We h..

July 12, 2022

Creating a market for free-to-play betting

Curating a strong repetoire of free-to-play products could be a valuable way of building an audience, at a time when US sportsbook operators are increasingly looking to differentiate their product ranges. Hussain Naqi of Inside the Pocket tells Marese O’Hagan about why he sees the free-to-play sector as similar to the field of his background: marketing.

Leaning into its name, free-to-play sports betting software platform Inside The Pocket packages its product offering in one compact solution.

Founder and chief executive Hussain Naqi believes this approach offers something unique in the market, as well as providing a range of new content for its clients.

“I would argue that we are distinctly different from the rest of the market, in that through a single integration, we open up an entire market of free-to-play content,” he says. “So we are distinctly different from a specific developer in that, through this one engagement in integration, you can open up an entire arena of products…

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Daily Archives: July 12, 2022