January 6, 2023

January 6, 2023

Ohio fines BetMGM, Caesars, DraftKings $150k for ad violations

The Ohio Casino Control Commission (OCCC) announced it is seeking a $150,000 (£126,000/€143,000) fine each from BetMGM, Caesars and DraftKings for advertising violations.

According to the regulator, the three operators, or their affiliates, all ran sports betting ads on multiple platforms that were in violation of both Ohio law and administrative rules relating to advertising and promotions.

“The sports gaming industry has received multiple reminders of the rules and standards for advertising and promotions, yet continues to disregard Ohio law,” said OCCC executive director Matthew Schuler. “These repeated violations leave the Commission no choice but to pursue administrative action to bring operators into compliance. The Commission takes responsible gambling seriously – and expects the industry to value the same.”

Read the full story on iGB North America

January 6, 2023

Kentucky bill for online betting, poker and fantasy introduced

A bill that would permit online sports, poker and paid fantasy competitions in Kentucky has been introduced in the State House in the current legislative session.

House Bill 106 was introduced on 5 January 2023 and sponsored by representatives Derrick Graham, Cherlynn Stevenson and Rachel Roberts.

If passed, the bill would add 26 amendments to the current law and enact 13 new sections related to online sports, poker and fantasy gambling.

The bill would enable sports betting to be provided by online operators as well as allowing racing tracks to partner with online brands.

A licensed track can only partner up with one online operator, which can provide systems for gambling both on track and online.

Tracks may also offer sportsbooks at two separate locations that it owns or leases within 60 miles of the racing grounds that are not attached to the land of the track.

Sports that would be allowed to be gambled on include the NFL, NBA, MLB, PGA, NASCAR, MLS, NCAA, NAIA and other nation..

January 6, 2023

Rhode Island betting handle reaches year-high in November

Players in Rhode Island wagered $61.2m (£51.7m/€58.3m) on sports during November, the highest monthly total of the 2022 calendar year

The figure was 16.1% higher than $52.7m in November of 2021 and up 10.3% from $55.5m in October 2022, as well as surpassing the previous year-high of $58.6m in January 2022.

Some $37.0m was spent betting online in November, while retail sportsbooks across Twin River and Tiverton Casino processed a total of $24.2m. Twin River took $17.0m in bets and Tiverton Casino $7.2m.

Read the full story on iGB North America

January 6, 2023

DC betting revenue and handle down month-on-month in November

Sports betting revenue and handle in Washington DC fell month-on-month in November, as both the commercial sector and DC Lottery also reported a year-on-year decline in revenue.

Player spending in November amounted to $21.4m (£18.1m/€20.4m), which was level with the amount bet in November 2021 but 13.7% lower than $24.8m in October of 2022.

Gross gaming revenue was down 40.9% from $4.4m in November 2021, which at the time was a record for the DC market, while this figure was also 16.1% behind the $3.1m that was generated in October 2022.

Read the full story on iGB North America

January 6, 2023

How much do sportsbooks spend on marketing and will it lead them to profit?

Russell Karp of DataArt explores how leading US sportsbooks spend their marketing dollars, examines their strategy and results and looks for a path to profitability.

Fall and winter are intensely hot seasons for sports betting with NFL, NBA, college football and basketball, NHL and MLB post-season action. So it’s no surprise that the last three months of the year became the most expensive in terms of advertising.

BIA Advisory Services forecasted that up to $1.8bn would be spent in 2022 to promote gambling products online, with a sizeable chunk going towards sports betting. In the first week of the year alone, ad spending by the four biggest sportsbooks rocketed to a lofty $24m.

But how do these heavy marketing investments impact the sports betting business? And are sportsbooks getting a return on their investment?

Where does the money go?

To acquire as many users as possible, as early as possible, sportsbooks invest heavily in marketing. A larger share of voice, paired with attra..

January 6, 2023

Bet365 revenue ticks up, but marketing costs lead to 88% profit decline

Bet365’s revenue ticked slightly up in 2021-22 as gaming growth offset a sports betting decline, but increased customer acquisition costs in new markets led to an almost 90% drop in profit.

Bet365 reported that revenue from sports and gaming for the year ended 27 March 2022 was up by 2.9% year-on-year to £2.85bn.

The increase was mostly due to the success of its gaming operations. Sports gaming revenue was down by 2% from 2020-21, while gaming revenue was up by 25%.

This would suggest sports betting revenue for 2021-22 of around £2.30bn, while gaming revenue would fall around £546m.

Bet365 revenue was up by 2.9% year-on-year to £2.85bn.

The operator said that the decline in sports betting revenue was margin-based, as the total amount that was wagered increased and the number of active customers was up by 48%.

Regulus Partners noted that Bet365’s margins in 2020-21 were “unusually high”, and that in 2021-22 they came back to more typical levels. It said that on an underlying bas..

January 6, 2023

Stake.com agrees sponsorship deals, expands streaming options for FA Cup

Online gambling operator Stake.com has expanded its live streaming capabilities for the English FA Cup, and agreed partnerships with three lower-league clubs competing in the competition.

Stake.com customers will be able to watch each game live via the operator’s website and mobile app for the first time.

To support this offering, Stake.com will partner with three lower-league sides that are due to host top-tier Premier League clubs in the third round. These include Cardiff City of the Championship, set to play Leeds United, League Two’s Gillingham against Leicester City and Sheffield Wednesday of League One against Newcastle United.

Stake.com branding will appear on the sleeves of each of the three lower league teams in their FA Cup third round matches, as well as on in-stadium LED advertising boards.

In addition, Stake.com will carry out a series of media activations, working with former players and ambassadors to produce editorial and social media content.

2022 FA Cup

FA Cup..

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Daily Archives: January 6, 2023