April 11, 2024

April 11, 2024

New Jersey senator formally introduces bill to hike online tax to 30%

A New Jersey senator, John McKeon, has formally introduced his new bill to increase tax for online gambling and sports betting to 30%.

Currently, online gambling and sports betting are taxed at 15% and 13% of gross gaming revenue respectively.

Senate Bill 3064 was formally introduced on 8 April, after being filed last week. The bill was referred to the Senate State Government, Wagering, Tourism & Historic Preservation Committee.

If enacted the bill would amend Section 17 of P.L.2013, c.27 (C.5:12-95.19), which specifies the online gambling tax amount. Section 7 of P.L.2018, c.33 (C.5:12A-16), which addresses sports wagering tax, would also be changed.

Should lawmakers approve the proposal, it would take effect on next 1 January that occurs after the date of enactment, per the bill text.

New Jersey gambling tax hike: How does it compare?

A 30% rate would put a significant burden on New Jersey’s 18 mobile sportsbooks, raising taxes to among the highest in the US. New York’s 51% spo..

April 11, 2024

Kajuru to lead parliamentary inquiry on Brazil sports betting

Senator Jorge Kajuru has been chosen as the president of a Parliamentary Inquiry Commission (CPI) on Sports Betting to investigate match-fixing accusations in Brazil sport.

Kajuru, a senator for the Brazilian state of Goiás, will be supported by Senator Eduardo Girão, who will serve as vice-president. Romário, a former footballer who won the World Cup with Brazil in 1994 before becoming a senator, will be rapporteur of the CPI.

The CPI will meet weekly and investigate complaints made by players, managers and betting companies. If it finds that games have been manipulated, the CPI will request the court system to ban from football the person responsible.

The CPI was first introduced in December. It will consist of 11 sitting senators, as well as seven substitutes.

“I’m sure that this CPI has some objectives and we will achieve them,” Romário said. “We know the problems that our football has experienced.

“Here are people who definitely want to set the record straight. They want to o..

April 11, 2024

Jdigital labels Spain ad restrictions annulments “very positive” but urges caution

The Spanish Digital Gaming Association (Jdigital) says the Supreme Court’s decision to partially uphold its appeal against Royal Decree 958/2020 is positive for the industry, although it is also calling for further dialogue with the regulator.

On Wednesday (10 March), the supreme court partially upheld a Jdigital appeal. The ruling annulled several measures included in the Royal Decree 958/2020, which entered into force in November 2020. The supreme court deemed a number of articles in the Royal Decree to lack the necessary legal basis.

Among the overturned measures was article 13, which relates to targeted advertising towards new customers. Operators will again be able to market to players who have had an account for less than 30 days. They will also be able to advertise in establishments with public accessibility and designated for the sale of lottery games.

The supreme court’s ruling also means that celebrities can appear in advertising again. Additionally, the ban on gambling ad..

April 11, 2024

Caesars launches mobile sports betting at Harrah’s casino in Mississippi

Caesars Entertainment has announced the launch of its mobile sports betting product at Harrah’s Gulf Coast Hotel & Casino in Mississippi.

Players aged 21 or over can download the Caesars Sportsbook Mississippi app and place bets across a range of sports. Wagering via the app is only permitted while users are physically present at Harrah’s Gulf Coast.

The mobile launch will complement the on-site Caesars Sportsbook facility at the casino. The retail sports betting location has been taking bets at Harrah’s Gulf Coast since 2018.

Users betting via mobile will also have access to the Caesars Rewards loyalty programme, which is integrated into the app. Players earn points for each bet placed, with these redeemable for Caesars experiences and bonus cash in the app.

“The launch of our Caesars Sportsbook mobile app at Harrah’s Gulf Coast is a game-changer for sports fans who visit the world-class destination,” Caesars Digital president Eric Hession said.

“Enhancing the fan experience rem..

April 11, 2024

BetMakers acquires Racelab Global assets

BetMakers Technology Group has completed the acquisition of assets from Racelab Global, an international supplier of racing wagering products and technologies.

Under the acquisition agreement, BetMakers will pay a total consideration of AU$1.5m (£779,316/€910,620/US$977,501) to take ownership of the Racelab assets. However, there is a clawback clause of up to $500,000, dependent on key customer obligations within 30 days of closing.

BetMakers said that the deal represents a “highly strategic acquisition” for the business. It adds race form, preview and statistics technology to its ecosystem, as well as proprietary fixed-odds pricing technology and associated algorithms.

Racelab assets include ProForm informatics and enhanced content and Odds Engine pricing and trading technology.

Other benefits include potential to further expand services in the harness and greyhound form and preview racing sectors. In addition, BetMakers said the deal provides an ongoing partnership with global r..

April 11, 2024

BlueBet agrees to acquire Betr wagering business

BlueBet Holdings has entered a binding asset sale agreement to acquire the Betr wagering business and create an enlarged organisation in Australia with increased scale and market share.

Announced today (11 April), the deal will see BlueBet issue approximately 265.4 million fully paid shares to Betr shareholders. This equates to around 56.9% of BlueBet’s current shares.

A potential deal has been in the works for some time. Yesterday (10 April), BlueBet added fuel to the fire by requesting a trading halt on the Australian Stock Exchange (ASX) amid talk of an acquisition.

The deal remains subject to a series of closing conditions, including the support of BlueBet shareholders. BlueBet has “unanimously” recommended shareholders vote in favour of the merger, saying it will create material value.

If these conditions are met, BlueBet says it expects to complete the merger by 1 July.

BlueBet chair hails “transformational” moment

“This is a transformational moment for BlueBet,” says Mich..

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Daily Archives: April 11, 2024