August 2023

August 31, 2023

Nevada posts record monthly win in July

Nevada generated record gaming win of $1.4bn (€1.3bn/£1.1bn) in July fuelled by a lucrative month for the famous Las Vegas Strip.

Figures released by the Nevada Gaming Control Board, show total gaming win posted by casinos and sportsbooks was up 6.7% on July 2022. Nevada’s gaming sector has now generated gaming win of more than $1bn for 29 consecutive months.

The figures were driven by the state’s second-highest table game revenue total for a single month at $513.1m. This was up more than 7% year-on-year.

Revenues on the Las Vegas Strip came to almost $834.9m, up by 7.9% compared to the same period in 2022 and an increase of 14.8% on the $727.3m reported during June.

July’s revenues were an all-time record for the Las Vegas Strip, outperforming the previous record of $792.6m set in July 2021.

Nevada sports betting operators reported $25.3m in revenue, representing an increase of 55.7% compared to July 2022. Mobile and online betting accounted for 65.7% of all sports wagers during ..

August 30, 2023

Episode 21: The next step for Brazil

On the 21st episode of the World Series of Politics, hosts Brandt Iden and Brendan Bussmann are joined by Neil Montgomery, founding and managing partner at Montgomery & Associados and Hugo Baungartner, VP for global markets at Aposta Ganha to take an intercontinental deep dive into Brazil.

But before heading over to LatAm, our hosts discuss the progress made in Florida since episode 20 was released.

In the weeks since, West Flagler filed an en banc rehearing. Instead of dismissing this petition, the court has asked the Seminoles for a response – which is due on 31 August.

With so much red tape, it’s assumed that sports betting in Florida will not come any time soon. However, the idea that it could launch during the upcoming NFL season is not out of the realms of possibility.

What’s on the cards for Brazil?

Meanwhile, in Brazil, Neil Montgomery says “anything’s possible”.

The country regulated sports betting in July, after president Luiz Inácio Lula da Silva signed the Provisional..

August 30, 2023

Sporttrade now live in Colorado

Sports betting exchange Sporttrade is now live in its second state after launching in Colorado.

The Philadelphia-based operator enters the Colorado market with strategic partner GF Gaming. The pair said Coloradans will benefit from Sporttrade’s unique structure within the sports betting market.

In particular, it highlighted its capital markets-like approach centred around its use of market makers to provide liquidity to the exchange. Low liquidity in ring-fenced US jurisdictions have been a long-standing problem for betting exchanges.

The Colorado launch comes after Sporttrade entered New Jersey as its first sports trading platform in September 2022.

“Today we’re privileged to introduce the Sporttrade experience in Colorado,” said Alex Kane, Sporttrade’s founder and chief executive.

“Our launch today proves that Sporttrade can operate in any jurisdiction, with the same great features our customers have come to know us for; instant in-play betting, great prices, awesome liquidit..

August 30, 2023

Bally Bet relaunches Kambi-powered app in Ohio

Bally Bet has launched its new platform in Ohio some two months after temporarily ceasing online betting operations across most of its US markets.

Bally’s Corporation’s sports betting division announced earlier this year that it would be relaunching its app. After shuttering its Bet.Works-developed app, the new platform has been created with Kambi Group and White Hat Gaming.

The new app has debuted in Ohio, where Bally Bet has a licence through its partnership with the NFL’s Cleveland Browns. It withdrew from five states in June ahead of the relaunch, only remaining operational in Arizona.

Bally Bet announced on its website that the new app is now live in Ohio. It will be rolled out in further US states in the coming months, according to partner White Hat Gaming.

“With extensive coverage of all major sports, near-endless wagering options, and features made to heighten the experience, our mobile sportsbook app is poised to deliver unmatched sports betting thrills,” Bally Bet said.

August 30, 2023

Nascar seeks US betting boost through Sportradar deal

National Association for Stock Car Auto Racing (Nascar) is seeking to boost its profile within US sports betting through an expanded partnership with Sportradar.

A four-year deal between Nascar and Sportradar will now feature official betting data. The deal extends their long-term media data rights partnership that covers live timing and scoring data.

Nascar said sports betting on its events has increased exponentially since it signed its first agreement covering the sector. Betting operators saw a 51.5% year-on-year increase in the total amount of money wagered on the sport in 2022.

“As the sports industry’s leading technology company and a trusted partner of sportsbooks and media companies, Sportradar is uniquely positioned to support Nascar in capturing commercial opportunities,” said Eric Conrad, Sportradar’s executive vice-president of strategic partnerships and content.

“Our ability to leverage these rights in the marketplace will ultimately enrich the Nascar experience for f..

August 30, 2023

Bet365 grabs Arizona licence

Stoke-based online gambling operator Bet365 has been cleared to offer sports betting in Arizona through one of the three remaining available tethered licences.

On Tuesday, the Arizona Department of Gaming (ADG) announced it had authorised Bet365 for an event wagering licence through a market access agreement with the Ak-Chin Indian Community, a federally recognised tribe and one of the state’s 20 licence holders.

This marks the seventh state in which Bet365 has received a licence. The operator is already live in Ohio, Virginia, New Jersey, Iowa and Colorado.

Also on Tuesday, Bet365 announced it had begun its pre-registration period in Kentucky with an eye towards a 28 September launch. This comes after receiving a temporary licence to operate in the Bluegrass State the week prior.

Bet365 will take the place of Fubo Sportsbook, which had previously operated in the state through Ak-Chin’s licence. In October 2022, the streaming provider announced it would be closing its sportsbook wi..

August 25, 2023

Nascar secures micro-betting partnership with nVenue

North American stock car racing association Nascar has entered into a multi-year partnership with micro-betting technology provider nVenue.

Under the deal, nVenue will become an official micro-betting data and technology provider to Nascar. This will see nVenue develop in-race micro-betting markets and predictive content for fans across the US.

nVenue will work directly with the league to design and develop in-race odds. These will include non-traditional betting markets such as stage results, qualifying and pit road betting opportunities.

In addition, nVenue will use live racetrack data and historical race data points to create predictions and odds. This covers each race and driver.

“This collaboration epitomises a shared vision to entertain fans and enhance the race viewing experience,” Nascar’s managing director for sports betting, Joe Solosky, said. “We’re thrilled to pair our racing product with expert technology like nVenue’s to bring micro-betting to Nascar fans going forwa..

August 25, 2023

FansUnite expects to save $7.1m from DragonBet migration

FansUnite Entertainment has reached an agreement with UK-based sportsbook DragonBet to migrate off its Chameleon Gaming platform as part of a strategy to streamline its business operations.

DragonBet will migrate off the white label betting platform on or around 3 September. This is despite the Welsh-facing brand having only joined the platform last year under a deal with FansUnite.

The migration comes after FansUnite in May agreed to sell the Chameleon source code to Betr. Under the deal, Betr is paying a total of $7.4 to take ownership of the platform.

FansUnite said the combined impact of the sale and DragonBet migration will result in approximately $7.1m (£5.6m/€6.6m) in annualised cost savings.

These savings include reductions in salary and selling, general and administrative costs. The business said these will be reflected in its financial results once the wind-up of operations of the Chameleon platform completes.

FansUnite added that it expects to generate positive cash flo..

August 25, 2023

Fanatics expands retail network with new Columbus sportsbook

Fanatics Betting and Gaming (FBG) has announced the opening of its latest retail sportsbook in the Arena District of Columbus, Ohio.

The venue is operating in partnership with National Hockey League franchise the Columbus Blue Jackets. The sportsbook is located near to the team’s Nationwide Arena home.

On-site facilities include four betting windows, 14 self-service betting kiosks, a giant LED video wall and 20 TV monitors. Customers can place bets on a range of major sports such as football, basketball, hockey and baseball.

“A great day to be a Buckeye at the Fanatics Sportsbook Columbus”

At a special opening event held yesterday (24 August), Ohio sports legends former NFL star Ryan Shazier and long-time Blue Jackets player RJ Umberger placed the ceremonial first bets at the new sportsbook.

The launch comes a month after FBG announced its partnership with the NHL team.

“It was a great day to be a Buckeye at the Fanatics Sportsbook Columbus,” FBG chief business officer Ari Borod ..

August 25, 2023

Entain CEE adds another piece to the puzzle with STS

Entain CEE’s £750m acquisition of STS Holdings gives Entain access to Central and Eastern Europe's (CEE) largest economy, Poland. For Mikolaj Cymerman, head of corporate development at Entain CEE, this is just the first step.

The deal for the Polish sportsbook market leader marks the second acquisition made by Entain CEE, a joint venture between Entain and investment management company Emma Capital.

It’s also a major milestone for the two parties. Getting a foot in the door will allow Entain to make serious inroads in the CEE market, one already somewhat carved out by its first acquisition – of Croatia’s SuperSport – last year.

Mikolaj cymerman, head of corporate development, Entain CEE

“Once SuperSport happened, people were thinking ‘OK, so they’ve bought SuperSport and that’s it’,” Cymerman explains. “But now with STS, this kind of structure starts to unravel and people are seeing that this wasn’t a one-trick pony.”

It was this first acquisition that set the wheels in motio..

August 23, 2023

Dazn Bet granted German sports betting licence

Online sports betting and casino operator Dazn Bet has been authorised to offer sports betting in Germany.

Dazn Bet is owned by sports media streaming service Dazn. It was first formed in April 2022, as part of a partnership with Pragmatic Gaming. It was added to the sports betting section of Germany’s white list.

The operator joins the likes of Jackpot50, 888 and Tipico on the list.

Dazn Bet, which is registered in Malta, will operate under the Daznbet.de domain.

The white list came about with the establishment of Germany’s gambling regulator, Gemeinsamen Glücksspielbehörde der Länder (GGL). The GGL was brought forth by Germany’s Fourth State Treaty on Gambling (GlüNeuRStv), which came into force in July 2021.

Germany’s gambling regulator

The GGL was established in July 2022. It officially took over all tasks from its predecessor, the Saxony-Anhalt State Administration Office, in January 2023.

Its responsibilities range from issuing licences to combatting illegal gambling in..

August 23, 2023

Michigan online gambling revenue tops $176m in July

Combined online sports betting and casino revenue in Michigan increased 18.8% year-on-year to $176.1m (£138.8m/€162.7m) in July, while the state also reported a month-on-month rise.

Gross receipts were comfortably ahead of $148.2m in July 2022 and also 4.0% more than $169.3m in June this year. The total also halted three consecutive months of decline in Michigan.

Online casino gaming gross receipts reached $153.6m in July, up 21.3% on last year and 1.7% ahead of June’s total.

Gross sports betting receipts were 4.2% higher year-on-year at $22.5m and 23.0% more than in June. This was despite handle falling 10.8% from $225.0m in July 2022 to $200.8m, with spend also 11.9% lower than in June.

July adjusted gross receipts up 17.8%

In terms of adjusted gross receipts, which account for promotional spending, Michigan also reported growth.

Combined igaming and sports betting adjusted gross receipts amounted to $154.6m. This was 17.8% ahead of last year and 5.8% higher than June’s total…

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Monthly Archives: August 2023