Daily Archives: November 20, 2023

Louisiana sets sports betting handle and revenue records in October

Players in Louisiana spent a record $308.6m (£247.1m/€282.2m) on sports wagering during October, while revenue also reached a new, all-time monthly high.

Sports betting handle was 20.8% higher than $255.5m in October 2022 and up 10.2% from $280.1m in September this year. It also beat the existing Louisiana record of $282.3m that was reported in January 2023.

Of this total, $276.2m was spent betting on sports online, while $32.4m was bet at retail sportsbooks in Louisiana.

Revenue narrowly exceeds Louisiana monthly record

Turning to gross revenue, this also hiked 63.5% year-on-year to an all-time high of $43.3m in October. This was marginally ahead of the $43.1m existing record posted in September this year.

Online gross revenue in October amounted to $40.1m, with retail’s share at $3.3m.

As for adjusted revenue, which discounts all promotional betting, total market revenue was $42.5m. The $875,871 deducted from the gross revenue figure was from online promotional bets.

Footbal..

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GC’s Andrew Rhodes walks the tightrope on affordability checks

Fifty-year UK industry veteran, David Brown, evaluates the tightrope being walked by the Gambling Commission on affordability checks.

During the “largest ever gathering of industry leaders” on 10 November, Andrew Rhodes, the Gambling Commission’s (GC) chief executive, attempted to walk the tightrope on affordability checks.

The story of affordability checks has created the most united front between punter, racing media and bookmaker that the UK has seen.

To his credit, we can certainly say that Rhodes has arguably done more to bring the industry together than anyone ever before.

However, that united front is now against him and the Gambling Commission, especially following his speech on 8 November.

The challenge that the GC now faces is the need to balance player protection while keeping the industry sustainable.

The speech: what went wrong

Gambling Commission CEO Andrew Rhodes has a tightrope to walk WITH AFFORDABILITY CHECKS

The GC has a precarious tightrope to walk. Howev..

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Florida Supreme Court rejects West Flagler motion to block Hard Rock Bet

The Florida State Supreme Court rejected a motion from pari-mutuel betting operator West Flagler Associates to suspend Hard Rock Bet and its online sports betting offering in the state.

West Flagler filed the motion earlier this month to stop Hard Rock Bet from offering sports betting in Florida. The motion requested the court to expedite the exercise of its all writs in the jurisdiction to immediately suspend online sports betting.

West Flagler argued the suspension should last until a final ruling on its petition for writ of quo warranto.

This came after Hard Rock Bet, which is operated by the Seminole tribe, launched in Florida on 7 November. Early access was available to customers who bet previously with the operator and members of Hard Rock’s loyalty scheme.

However, in a blow to West Flagler, Florida’s State Supreme Court on Friday (17 November) rejected this request. The decision was announced in a short notice released by the court.

“The ‘Motion to Expedite Consideration..

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Pennsylvania sports betting handle hits record $829m in October

Pennsylvania reported a monthly record $829.0m (£664.4m/€759.3m) sports betting handle in October, while the state also noted year-on-year revenue growth across several segments.

Total gambling revenue in Pennsylvania hit $483.0m in October. This was 7.3% higher than $450.2m in October 2022 and 1.4% up from $576.3m in September this year.

Retail slots were responsible for almost 40.0% of all gambling revenue during the month at $192.5m, down 3.3% from last year. Land-based table games revenue edged up 2.0% year-on-year to $81.5m.

Record spending pushes sports betting revenue up

The headline figure for Pennsylvania in October was sports betting handle, which climbed 4.0% from the previous monthly high of $797.1m to reach a new record.

This helped push sports betting revenue up 18.8% year-on-year to $48.2m. Of this total, $43.1m came from online wagering and the remaining $5.1m retail betting.

Hollywood Casino at the Meadows and Barstool edged back into top sport in the market wi..

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New Jersey gambling revenue up 9.3% year-on-year in October

Gambling revenue in New Jersey increased 9.3% year-on-year in October, driven by growth across the state’s igaming and sports betting market.

Total market revenue in New Jersey reached $487.1m (£390.9m/€446.4m) in October. This was ahead of $445.7m last year but 6.6% behind $521.5m in September this year.

Physical slots, which have long drawn the most gambling revenue in New Jersey, posted a year-on-year decline. Revenue from retail slots dropped 1.9% to $163.0m in October.

However, land-based table games revenue for the month was 19.7% higher at $65.1m. This meant total revenue from the retail casino sector increased 3.4% to $228.1m.

New Jersey igaming markets continues to expand

In contrast to the retail slots decline, the situation was very different for their online cousins in New Jersey. Revenue from authorised online games, including internet slots, increased by 13.4% to $164.4m in October.

Online peer-to-peer poker games revenue also increased by 6.2% to $2.4m. As such, ..

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