October 2022 - Page 5 of 7

October 11, 2022

Metric Gaming to launch B2C sportsbook Bhet

Sports betting supplier Metric Gaming has announced it will launch a B2C sportsbook offering through its wholly owned Bhet subsidiary.

The sportsbook will build on Metric’s previously announced partnership with Lacerta Sports. Lacerta was founded by a team from London-based data betting syndicate and consultancy Starlizard, whose data solution will power the sportsbook’s pricing, risk management and player profiling.

“The pricing will be among the most player-friendly in the industry, and the scope and availability of live in-game wagering will be significantly more innovative and engaging than competitor brands,” said Metric CEO Keith Hayes.

The new venture will be funded through Metric’s latest debt financing round, during which it had raised $15m. Metric said it has received strong “indication of interest” from an unnamed “high-net worth” strategic investor who is seeking to increase the size of the round to $30m and close it out entirely.

“Metric has made significant progress ..

October 11, 2022

BetMGM becomes Cincinnati Reds’ official sports betting partner

BetMGM has become an official sports betting sponsor of the Cincinnati Reds baseball team.

The sponsorship precedes the launch of legalised sports betting in Ohio, which will take place on 1 January 2023.

The bills that introduced sports betting in the state – Senate Bill 176 and House Bill 29 – were introduced in May 2021. Eventually, an evolved version of House Bill 29 made it to Ohio’s state House and Senate, where it was passed.

Read the full story on iGB North America

October 11, 2022

Betr becomes first US online operator to ban credit card gambling

Sports betting operator Betr, founded by Simplebet co-founder Joey Levy and influencer Jake Paul, has announced that it will ban the use of credit cards on its micro-betting app, claiming to be the first US operator to do so.

The announcement was made by Levy, Betr’s CEO, at the Global Gaming Expo event in Las Vegas yesterday (10 October).

Levy also revealed that Betr will become the first operator to enforce mandatory deposit limits for 21-25-year-olds.

Read the full story on iGB North America

October 10, 2022

Sportradar granted sublicence, will stop scouting in Genius-FDC settlement

Sportradar’s legal dispute against Genius Sports and the Football DataCo (FDC) has reached a resolution, with the parties agreeing out of court that Sportradar will receive a sublicence for English football data, but that it must stop unofficial scouting.

Under the terms of the settlement, Sportradar will be granted a sublicence that will grant access to a delayed secondary feed until 2024. At the same time, Sportradar will cease its unauthorised in-stadium data collection activities.

The case, which dates back to February 2020, challenged the English and Scottish football data licensing regime. The framework was established in May 2019 when Genius signed a landmark agreement with FDC that granted the data business exclusive rights to collect, license and distribute live data from the Premier League, the Football League and the Scottish Professional Football League. The case was heard by the Competition Appeal Tribunal.

Sportradar claimed that the system that had been built through..

October 10, 2022

World Series of Politics: Brazil, Indiana and Ontario

Just in time for G2E, iGB brings you episode five of the World Series of Politics, this week featuring Brazilian elections, Indiana online casino and Ontario's offshore issue.

We kick off by looking at Brazil, where the competing presidential candidates go into a run-off at the end of October.

This is likely to impact gambling across multiple channels. Not only sports betting may be on the line, but a reshuffling of the country’s lottery sector and even integrated resorts are being held back.

Indiana online casino is also up for discussion in this week’s episode, as US states look for new ways of finding revenue. Could this lead to a wave of igaming legislation in the remainder of 2022 and into early 2023, especially after commentators were disappointed by a lack of action in 2021?

It’s a question of tax, Brendan says. If they set the rate too high, states risk stifling the market before it can get going.

Remember, The World of Series of Politics is available on Apple Podcas..

October 10, 2022

AGA welcomes Xpoint as board-level member

Geolocation and compliance technology business Xpoint has been announced as a board-level member of the American Gaming Association (AGA).

Xpoint co-founder and chief executive, Marvin Sanderson, will now serve on the AGA board of directors, while a number of Xpoint’s C-suite leadership team will sit on a range of AGA committees and task forces.

Focused on the North America sports betting and igaming markets, Xpoint launched its first live partnership in June of this year, linking up with SkillOnNet in Ontario, Canada.

One of only two geolocation technology vendors licensed in New Jersey, Xpoint last month announced the launch of its Xpoint Verify real-money gaming geolocation solution in the state with Sporttrade and PlayStar.

Xpoint has also secured investor backing from the likes of Bettor Capital, Courtside Ventures, Acies Investments, The Raine Group and SuRo Capital Sport.

“We are very proud to join the AGA and look forward to being active participants across a range of the ..

October 10, 2022

Iowa September betting revenue up 345.6% from 2021 despite handle decline

Revenue from sports betting in Iowa increased 345.6% year-on-year in September despite the state reporting a 4.9% decline in player spending.

Sports wagering revenue reached $25.4m (£23.0m/€26.2m) in the month, up from $5.7m in September 2021 and also 76.4% higher than $14.4m in August of this year, according to the Iowa Racing and Gaming Commission (IRGC).

Of this total, $21.2m was attributed to online betting, while the remaining $4.2m came from retail wagering.

In terms of spending, the $200.2m wagered in September was down from $210.4m in the same month last year, but 63.3% more than in August this year.

Players spent $177.6m betting online, as well as $22.6m at retail sportsbooks across the state.

Breaking down the performances of individual operators, Diamond Jo in Dubuque and its FanDuel sportsbook led the way with $6.5m from a $43.2m handle.

Sister property Diamond Jo in Worth, which also has a FanDuel sportsbook, placed second with $3.6m in revenue from $23.7m in bets, f..

October 10, 2022

New York sports betting revenue hits record $143.3m in September

Sports betting revenue in New York reached a record $143.3m (£130.1m/€147.7m) in September as consumer spending hit its highest monthly total since May.

Gross gaming revenue from sports betting in September was 15.5% higher than the previous monthly high of $124.1m, which was set in the first month of legal wagering in January this year.

The September total was also 43.9% higher than $99.6m in August.

In terms of spending, handle for the month amounted to $1.26bn, up 44.1% from $872.2m in August and was the highest monthly total since May.

Flutter Entertainment-owned FanDuel remained comfortably the market leader with $65.7m in GGR from $499.8m in player bets during the month.

DraftKings was the closest challenger with $44.9m in GGR from a $422.2m handle, followed by Caesars Sportsbook, which posted $18.6m in GGR and a $163.2m handle.

BetMGM generated $8.6m in GGR from $95.7m in wagers in September, while Rush Street Interactive posted $3.7m in GGR off $34.9m and PointsBet $1.7m ..

October 7, 2022

Lotteritilsynet halts daily fines as Kindred stops targeting Norway

Norwegian regulator Lotteritilsynet has paused issuing daily fines to Kindred Group after the operator confirmed its Trannel subsidiary would no longer target consumers in the country.

However, the operator added that it had done so only as a show of goodwill and that it was confident that its legal position was still correct.

Earlier this month, Lotteritilsynet warned Kindred that it would impose a fine of NOK1.198m (£100,106/€114,549/$112,184) for every day that Trannel did not withdraw from Norway.

The daily fine was due to come into effect three weeks after the day that Lotteritilsynet decided to implement the fine. That decision came on 14 September, after it previously warned the operator it would issue fines if it did not exit the market.

The regulator said these fines would only stop when the amount owed reaches Trannel’s annual gross profit, which the regulator estimated to be approximately NOK437m, or when the operator withdraws from the country.

Trannel does not hold a ..

October 7, 2022

DraftKings shares rocket after reported “large new partnership” with ESPN

US-based sports betting operator DraftKings’ shares rose 14% to $18.26 in after-hours trading following report of “large new partnership” with Disney’s sports broadcasting arm ESPN.

Business news agency Bloomberg broke the story overnight, reporting that “people familiar with the matter” had indicated the existence of such a partnership.

In the wake of the story, DraftKings’ shares briefly jumped 14% to $18.26 per share in after-hours trading, up from $16.04 before the news broke. Since the after-hours peak, the share price has settled down to $17.45 per share, 8.79% above close.

ESPN speculation

The deal would be Disney’s most significant foray into the rapidly growing US sports betting market, after years of speculation, which have only increased in recent months.

In November 2021, CEO Bob Chapek hinted at the business’ interest during its fourth quarter earnings call. On that occasion Chapek called ESPN the “perfect platform” for sports betting.

“We have done substantial res..

October 6, 2022

Entain to promote online betting brands at NSW hotels in new deal

Global gambling giant Entain has agreed a new deal with the Australian Hotels Association (AHA), allowing it to promote its online betting brands Neds and Ladbrokes at New South Wales hotels.

The agreement comes despite hotels in the state having an existing exclusivity deal with Tabcorp, the national totalisator board.

As a result, the deal will not involve any Entain wagering terminals, or hotel staff accepting or taking commission for bets. Instead, Ladbrokes and Neds will simply be advertised at these venues.

“For decades now, many NSW hotels have operated PubTABs for Tabcorp at a significant loss – primarily due to high Sky Channel and EBT (betting terminal) fees,” AHA NSW CEO John Whelan said. “In-country NSW it’s even worse, with the majority of country pubs currently running their PubTAB at a loss.

“Today’s partnership with a world leader in Entain will finally give NSW hotels competition and choice.”

An evolution?

Entertain Australia chief executive Dean Shannon said th..

October 6, 2022

ATG chief slams bonuses as “embarrassing”

Hasse Lord Skarplöth, CEO of Swedish state-affiliated horse racing operator ATG, has said that bonuses are “embarrassing” and “drive gambling addiction” in a blistering critique of the common industry practice.

Bonuses are the practice of offering free or extra bets to consumers in order to attract or retain players to their platforms; with the method sometimes coming under criticism as an inducement that helps contribute to negative social responsibility outcomes.

Sweden has a stringent bonus regime, only allowing operators to offer one bonus per player at sign-up, worth no more than SEK100. This has been criticised by the Swedish Moderate Party – which have called for the rules to be reformed:

Hasse Lord Skarplöth

“This would make it easier for gaming companies to retain customers in the licensed market and have long-term relationships with the players, both of which increase consumer protection,” said the party.

Much of the industry has also opposed the bonus ban. However, as ..

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Monthly Archives: October 2022