Daily Archives: November 22, 2023

Brazil sports betting tax rate set at 12% as attempt to remove igaming fails

A reduced 12% tax rate for Brazil sports betting was confirmed after the country's Economic Affairs Commission (CAE) approved Bill 3,626/23 today (22 November) while an attempt to remove igaming from the legislation was rebuffed.

The approval of the bill text by the CAE greenlights the bill to go to the Senate plenary. The Senate plenary vote will take place on 29 November, during which sports betting – alongside igaming – could be given the all-clear in Brazil.

If the Senate alters the bill text, it will go back to the Chamber of Deputies for review. The lower chamber approved Bill 3,626/2023 in September.

However it faced opposition from senators including Eduardo Girão and Carlos Portinho. Attempts to remove igaming from the legislation also failed during today’s session, after online casino was unexpectedly added to the sports betting bill in September.

The vote was set to take place yesterday before it was postponed by the CAE. According to the Senate agency on Senado Not..

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Global Tote agrees contract extension with Meadowlands Racing

BetMakers' Global Tote division has agreed to a ten-year contract extension with Meadowlands Racing and Gaming.

The extension will see Global Tote continue to provide pari-mutuel betting technology to the Meadowlands Racetrack in New Jersey and Winners Bayonne Off-Track Wagering. This includes its SaaS solution for pari-mutuel wagering, consisting of the Quantum tote engine and cloud-based hosting.

The SaaS solution also includes system operations and operational support on-site. The systems operations are managed by Global Tote’s operations centre in New Jersey.

The extension means that the Meadowlands will receive Global Tote’s newest BetLine Series wagering terminals. These are the BetLine TSST, which are for teller point of sale and self-service betting and the BetLine SST for full-service betting. The Meadowlands will also receive the BetLine Compact Teller terminal.

Raj Sanjanwala, chief operating officer for Global Tote said it would roll out more developments over the ..

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Bet365 extends US reach with Louisiana launch

Online gambling operator Bet365 has expanded its presence in the US by launching its sportsbook product in the state of Louisiana.

Players in Louisiana can access the Bet365 website or download the sportsbook app and bet on a range of events. These include major league competitions such as the National Football League, National Basketball Association, National Hockey League and Major League Baseball.

Bettors will also be able to view live streams of certain events while they place bets.

Launching in Louisiana means Bet365 is now active in seven states across the US. Bet365 also operates in Colorado, Iowa, Kentucky, New Jersey, Ohio and Virginia.

“Celebrated for its passionate culture and festive spirit, we are thrilled to bring bet365 to Louisiana,” a Bet365 spokesperson said. “Now eligible customers from Shreveport to the Big Easy can enjoy our renowned products like amazing bet boosts, the fastest in-game experience and unique same game parlays.”

Betting handle and revenue recor..

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Michigan online sports betting handle hits record $533m in October

Michigan consumers spent a record $533.0m (£424.9m/€488.2m) betting on sports online in October, marking the first time monthly internet bets in the Great Lakes State exceeded $500.0m.

Gross internet gaming and sports betting receipts from commercial and tribal operators in Michigan reached $205.3m during October. This was 7.9% ahead of $190.2m last year but 2.4% down from $210.4m in September 2023.

Online casino was again the main source of all internet gambling revenue in Michigan. Gross receipts in the igaming segment reached $160.3m, an increase of 13.7% from $141.0m in the previous year.

In contrast, sports betting gross receipts declined 8.5% to $45.0m. This was despite sports betting handle climbing to a new monthly high in Michigan.

Adjusted gross gaming receipts exceed $167m in Michigan

After accounting for promotional deductions, adjusted gross receipts (AGR) from igaming and sports betting was $167.7m. This was an increase of 5.8% from $158.5m posted in October of last..

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Fanatics launches in Virginia as PointsBet switchover continues

The Fanatics Betting and Gaming (FBG) arm of Fanatics Holdings has rolled out its online sportsbook in Virginia, marking the latest phase of its acquisition of PointsBet US.

Virginia players who previously had accounts with PointsBet will now automatically switch over to the Fanatics Sportsbook.

Existing PointsBet users can log in to their Fanatics accounts using their original username and password. The migration will also include their account balance, rewards points and any responsible gaming settings.

New customers can also download the Fanatics Sportsbook app and start betting in the Old Dominion State.

The launch means that Fanatics has completed the acquisition and subsequent migration of PointsBet US in seven states. Fanatics is also active in Kentucky, Maryland, Massachusetts, Ohio, Tennessee and West Virginia.

The Virginia roll-out comes less than a week after Fanatics also went live in West Virginia. Last week’s launch also included a pilot of its new online casino, wi..

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