Daily Archives: November 14, 2023

Forging a new path in daily fantasy sports

Amid rapid expansion in all forms of online gambling, one company is attempting to blaze a new trail. Rourke Struthers, CEO of GameBlazers, is carving out a new corner of the daily fantasy sports (DFS) industry, writes Cole Rush.

“It’s a gamified approach to fantasy sports,” Struthers says of GameBlazers. The DFS platform currently offers NFL contests.

Participants receive packs of items – football players – with multipliers. A star running back might come with a 1.3x multiplier, for example. GameBlazers team owners can then use their items to field a roster of players within the salary cap.

The novel approach must contend with existing competition in the DFS space and the proliferation of online sportsbooks and casinos. Struthers says GameBlazers is more than up for the challenge.

“So many of the dollars in this industry have gone to the gambling side,” he says. “But look at video games in general and it’s a bigger category. We wanted to take that underlying concept and iterate on..

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Australia lower house passes credit card gambling ban bill

The Australia House of Representatives, the lower house of the country’s parliament, has passed a bill that would introduce a blanket ban on using credit cards for online gambling.

The Interactive Gambling Amendment (Credit and Other Measures) Bill 2023 was submitted in September. It seeks to ban credit cards and other credit-related products, as well as digital currencies.

Introducing the bill has led to significant debate in parliament, with several amendments being filed to alter the bill. However, these were ultimately unsuccessful and the bill passed today (14 November) with support from both major parties in Australia.

The bill will now move forward to the Senate, the upper house of parliament in Australia, for further debate.

Breaking down the credit card bill

Aside from the ban on credit products, the bill includes a host of other measures that would come into effect.

These include heavy fines for operators that do not enforce the ban. Licensees in Australia could face..

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Iowa sports betting handle hits 21-month high in October

Sports betting handle in Iowa reached its highest monthly total in almost two years during October, while revenue in the Hawkeye State also hit a 12-month high.

Players in Iowa spent $255.3m (£207.6m/€238.5m) betting on sports in October. This was up 6.9% from $238.8m in October 2022 and 3.9% ahead of $245.8m in September this year.

The total was also the most spent since a record $303.3m was bet in January 2022, some 21 months ago.

Of all bets placed in October, $231.8m were online and $23.5m at retail sportsbooks across Iowa.

Turning to sports betting revenue in Iowa, this amounted to $24.2m in October. This was up 26.7% from $19.1m last year and marginally higher than $24.1m in September this year.

In addition, the October revenue total was the highest monthly amount since $25.4m was generated in September 2022.

Out in front in Iowa with Diamond Jo Dubuque

Diamond Jo Dubuque and partner FanDuel retained their grip on Iowa’s market in October. Revenue from the partnership tot..

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Indiana posts year-on-year sports betting decline in October

Sports betting handle and revenue in Indiana both fell year-on-year in October, although the US state did report month-on-month growth.

Player spending on betting in October amounted to $429.7m (£349.9m/€401.6m). This was 3.7% less than $446.2m in Indiana last year but 6.3% ahead of $404.1m in September 2023.

With the 2023 NFL season now in full swing, it was little surprise that football drew the most bets. Some $153.3m was wagered on football in Indiana in October.

Indiana players also spent $142.3m on parlay bets, as well as $38.3m on basketball betting, $27.4m baseball and $68.0m across other sports.

Turning to taxable adjusted gross revenue, this declined 3.6% from $46.9m in October 2022 to $45.2m this year. The monthly total, however, was 10.0% higher than September’s $41.1m.

Ameristar Casino and DraftKings lead in Indiana… just

As was the case in September, Ameristar Casino and DraftKings remained the frontrunners in Indiana in October. The partnership generated $17.8m fro..

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