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Daily Archives: May 15, 2023

May 15, 2023

Texas’ lieutenant governor says sports betting bill won’t progress

Texas’ lieutenant governor Dan Patrick has said that House Bill 1942, which details how Texas’ sports betting market would be regulated, has “little to no support” and will not progress through the senate.

Texas’ house of representatives voted in favour of HJR 102 last week. HJR 102 is a constitutional amendment which would give state citizens the chance to vote online sports betting into law.

HB1942 accompanied the amendment, and also passed through the house by a 82-51 vote.

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May 15, 2023

Indiana sports betting handle continues to decline in April

Sports wagering handle in Indiana fell year-on-year in April, while the state also experienced a month-on-month decline in player spending.

Consumers bet $321.4m on sports during the month, down 10.7% from $360.0m in April last year and also 25.8% behind the $433.0m wagered in March of this year.

Basketball was again the most popular sport to bet on, drawing $91.6m in wagers, ahead of baseball on $61.2m and football with $3.4m. Some $91.6m was wagered in parlay bets and $74.0m was spent betting on other sports.

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May 15, 2023

Fanatics Betting and Gaming to acquire PointsBet US

The Fanatics Betting and Gaming (FBG) arm of sports retail giant Fanatics has agreed a deal to acquire the PointsBet US division of PointsBet Holdings for $150.0m.

Under the agreement, which remains subject to shareholder approval and certain regulatory and other conditions, PointsBet will retain both its Canadian and Australian business and operations and continue as an Australian Stock Exchange-listed company.

PointsBet will keep hold of its proprietary sports wagering, racing and igaming platform and be granted a perpetual, royalty-free licence to exploit the Banach technology assets, which were acquired by PointsBet in March 2021.

The deal also states that PointsBet will retain its teams in Australia, Canada and India, as well as its Australian-based technologists, traders and quants.

Other aspects of the deal include that PointsBet will provide services to FBG prior to the final closing of the deal and be reimbursed for the cost of these services by FBG.

In addition, the exis..

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