September 7, 2023

September 7, 2023

Turnover is vanity, profit is sanity

The NFL is a difficult sport for oddsmakers and sportsbooks to navigate. But along with its headaches and complexities comes the promise of high rewards for operators, writes Simon Trim, launch consultant to 10star.

The weekend that follows the first Monday in September is always a red-letter event for US sportsbooks, as the NFL season makes its annual return.

The NFL season consists of 272 games, as opposed to the 2,430 that comprise the regular Major League Baseball season. But the impact on turnover, and potentially profit, that the NFL has in comparison is vast.

The NFL isn’t just America’s game either. It is a high-tariff sport throughout the global sports betting landscape. For UK sportsbooks, the NFL games held in London across three consecutive weekends in October are huge business drivers.

SIMON TRIM, LAUNCH CONSULTANT TO 10STAR

While the NFL is undoubtedly the main event in terms of generating turnover and revenue, the number of US sportsbooks that have translated this ..

September 7, 2023

Kentucky launches legal retail sports betting

Kentucky will today (7 September) open its legal retail sports wagering market, ahead of launching online betting later this month.

The market opens after governor Andy Beshear signed off on House Bill 551 in April. The bill makes nine Kentucky racetracks eligible to offer on-site retail betting.

Each racetrack is also able to partner with up to three online operators, meaning 27 licences are up for grabs in the state. Online will not launch until 28 September as part of a staggered start to regulation, although pre-registration is now open.

Online tax rate is set at 14.25% of gross gambling revenue and retail 9.75%. A licence will cost a racetrack $500,000 and an online operator $50,000 to partner.

Retail licensees confirmed in Kentucky

Last month, the Kentucky Horse Racing Commission (KHRC) approved sports betting licences for a number of operators. These covered both online and retail activities.

In terms of retail, licences were also approved for a number of racetracks and t..

September 7, 2023

NCAA demands help in the wake of soaring college gambling problems

One in four leading US college sports programmes have been notified of student-athletes being harassed by someone with gambling interests in the last 12 months, according to a new study published by the National Collegiate Athletic Association (NCAA).

The body that runs college sports has demanded help from sportsbooks and regulators in the wake of issues identified in its Survey of Senior Compliance Administrators on Sports Wagering Issues.

The study found that 27% of schools from the so-called Power Five conferences had dealt with a sports wagering problem among their athletes or staff within the past year. This is compared to just 3% when the same question was asked in 2019.

There was also a sharp rise within all Division I schools, from 4% to 13%. Division II and Division III athletic departments actually saw a fall in reports of problem gambling between 2019 to 2023.

Another statistic shows a quarter of Power Five schools were aware of student-athletes being harassed by someon..

September 7, 2023

Betr launches real-money sportsbook in Virginia

Microbetting operator Betr Holdings has announced the launch of its real-money sportsbook product in the state of Virginia.

Consumers can access the Betr Fantasy & Sportsbook app on iOS as well as the Betr Microbetting app via Google Play. Betr will also launch its Scripts product in the state.

The roll-out means Betr is now active in three US states, having already gone live in Ohio and Massachusetts.

Launching in Virginia also marks the final Betr Sportsbook roll-out on Betr’s V0 product. The operator will introduce its V1 Sportsbook in additional and existing states next year.

This development has been made possible through Betr’s acquisition of the Chameleon platform from FansUnite. Betr purchased Chameleon, which offers a suite of gaming solutions, for $7.4m (£5.9m/€6.9m) in May.

Betr’s new V1 OSB product will feature wider sportsbook capabilities. These include pre-match and in-play core markets, parlays, same game parlays, futures, props and other bet types. More than 20 ad..

September 7, 2023

Net profit up 56.4% at STS in H1

Net profit at Polish sports betting operator STS Holding grew 56.4% to PLN97m (£18.1m/€21.1m/$22.6m) in the first half of 2023, a period in which it agreed to be acquired by Entain CEE for £750.0m.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for the half-year rose by 34.1% to PLN157m.

The news that Entain CEE – Entain’s Central and Eastern Europe (CEE) venture – would acquire Poland’s leading sportsbook operator came in June, after Mateusz Juroszek, chief executive of STS, and his father Zbigniew, entered into an agreement to accept Entain CEE’s acquisition offer.

Entain CEE paid PLN24.80 per STS share. This put the business at an equity value of £750m and an enterprise value of an estimated £690m. The deal closed on 24 August, after STS shareholders – holding 155,591,656 in STS shares – backed the deal.

On the half-year, Mateusz Juroszek said STS focused on optimising its operations during the six months, adding that he projects increased player ..

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Daily Archives: September 7, 2023