Betting News Archives

February 26, 2024

Ohio bans player prop bets on NCAA games

The Ohio Casino Control Commission (OCCC) has banned player prop bets on college sports after granting a request from the National Collegiate Athletic Association (NCAA).

The OCCC’s decision came after NCAA president Charlie Baker sent a letter to the commission’s executive director Matt Schuler, requesting a ban to be implemented on player-specific prop wagers for its games. The letter was also endorsed by Ohio’s governor, Mike DeWine.

Bettors will no longer be able to wager on markets such as a quarterback’s passing yards or a basketball player’s points for NCAA games. Operators have until 1 March to introduce the restrictions.

In the OCCC’s announcement, the commission stated it would become the 25th state to either prohibit or limit player-specific prop bets on NCAA contests. The ban’s aim is to protect NCAA athletes against potential harassment from bettors, as well as curb match fixing.

Ohio only launched legal sports betting in January 2023. In July, the state passed a law t..

February 26, 2024

Yield Sec: Two-thirds of Super Bowl bets in US were illegal

New research collated by Yield Sec has revealed that close to two thirds of bets cast on Super Bowl LVIII in the US were illegal.

The research was commissioned by the Campaign for Fairer Gambling (CFG). It analysed how players chose to bet during the 2024 Super Bowl, looking specifically at the performance of the black market. Further research on the gambling share between regulated and unregulated markets is expected in the next few days.

Yield Sec reported that, in total, 350 million bets were placed on this year’s Super Bowl, at a value of $5.4bn (£4.26bn/€4.98bn). The total bets were up by 22.8%, while the betting value shot up 20.0% year-on-year.

In total, 228 million wagers were illegal and 122 million were legal. Illegal bets generated $4.0bn while legal bets made up the remaining $1.4bn. In comparison, the 2023 Super Bowl brought in 286 million bets, split between 186 million illegal bets and 100 million legal bets. Of the $4.5m generated last year, $1.1bn came from legal be..

February 26, 2024

Sturgis’ review of Gambling Commission’s survey stoking the fire

The Gambling Commission (GC) recently lauded its Gambling Survey for Great Britain (GSGB), after it was endorsed by Professor Patrick Sturgis in an independent review. However, that backing is far from comprehensive, even from Sturgis himself.

Sturgis, a professor at the London School of Economics, did label the study “exemplary in all respects”. However, as has been the case in the past with the GC, its tendency to produce unreliable statistics was a noticeable theme for Sturgis, who cast doubt over the accuracy of the GSGB, which is due to be published this summer.

Sturgis said: “Until there is a better understanding of the errors affecting the new survey’s estimates of the prevalence of gambling and gambling harm, policymakers must treat them with due caution, being mindful to the fact there is a non-negligible risk that they substantially overstate the true level of gambling and gambling harm in the population.”

Hardly the glowing endorsement the GC has made out, Sturgis’ concer..

February 23, 2024

North Carolina’s sports betting market: The latest updates

As North Carolina moves closer to its online sports betting go-live date, iGB looks at what opportunities lie ahead for the market.

Last month, the North Carolina State Lottery Commission approved 11 March as the go-live date for online sports betting in the state. But players can register much sooner for accounts – from 1 March – and also fund them.

This didn’t come out of nowhere. When North Carolina’s governor, Roy Cooper, signed House Bill 347 into law on 14 June last year, he also gave the thumbs-up to a timeline for implementation. The bill mandated that North Carolina must publish sports betting regulations before 8 January 2024, and operators in the state must accept wagers before 14 June 2024.

The North Carolina State Lottery Commission released two important updates on the impending sports betting market this week

Recent speculation abounded after North Carolina’s Commission set a deadline of 26 January for hopeful operators to submit their internal controls.

What are t..

February 23, 2024

Waterhouse VC: The mathematics of betting

Tom Waterhouse of Waterhouse VC explores the mathematical prowess involved in professional betting and discusses why people choose to bet the way they do.

For most of us, it is hard to fathom the mathematical capability possessed by a small number of people. It is even more impressive when these individuals can combine several rare skills together with business acumen to develop a highly profitable enterprise.

We believe that professional betting is one of the most difficult fields in the world. The three keys to winning at betting are: making correct bet selections; betting at an attractive price; correctly staking – knowing how much to wager on each selection.

Successful professional betting requires a combination of incredibly challenging skills:

Knowing a sport back to front – every player statistic, every last-minute change, every location and playing surface (e.g. clay/grass/hard tennis courts, Emirates Stadium vs Etihad Stadium)Complex modelling of the many 100s of various ..

February 23, 2024

Fanatics launches online sports betting and casino in Michigan

Fanatics Betting and Gaming (FBG) has announced the launch of its online sportsbook and casino in the state of Michigan.

Players in Michigan can now access both the Fanatics Sportsbook and Fanatics Casino. The online casino offering has been embedded in the sportsbook app.

Fanatics Sportsbook replaces the PointsBet brand in Michigan. Existing PointsBet customers’ username, password, account balance, rewards points and responsible gaming settings will automatically be migrated to the Fanatics platform.

FBG has been phasing out the PointsBet brand across the US following its acquisition of PointsBet US in August 2023.

Fanatics fended off DraftKings with improved PointsBet US bid

Michigan marks the 13th state in which FBG has launched its Fanatics Sportsbook. It is also live in Colorado, Connecticut, Iowa, Kentucky, Maryland, Massachusetts, Ohio, Pennsylvania, Tennessee, Vermont, Virginia and West Virginia. In addition, retail betting venues operate in both Pennsylvania and West Vi..

February 22, 2024

Michigan igaming revenue reaches record $181.9m in January

Gross igaming revenue in Michigan hit a new monthly high of $181.9m (£143.7m/€167.7m) in January, while the state’s entire online gambling market grew year-on-year.

Total gross online gambling revenue, comprising igaming and sports betting, amounted to $229.6m. This was 22.6% ahead of $187.3m in Michigan last January but 5.3% less than December’s $242.5m record for total gambling revenue.

Figures include licensed commercial and tribal igaming operators in Michigan.

Gross igaming revenue was 18.4% higher year-on-year, surpassing the $153.7m reported in January 2023. The total also narrowly beat the existing monthly record of $181.4m set in December.

Turning to sports betting, gross receipts here reached $47.7m. This was 40.7% higher than $33.9m in the same month last year but 21.9% less than December’s $61.1m. As for handle, the $577.4m wagered in January was 21.4% higher than in the previous year.

In terms of adjusted gross receipts (AGR), which account for promotional deductions..

February 21, 2024

Pennsylvania gambling revenue edges up year-on-year in January

Overall gambling revenue in the state of Pennsylvania increased by 2.7% year-on-year to $477.2m (£378.1m/€441.9m) in January.

Revenue was up from $464.4m in January 2023 but 10.7% behind the $534.2m generated in Pennsylvania in December. This revenue comprises land-based slot and table games, online gambling sports betting, video lottery terminals (VLTs) and fantasy sports.

Physical slots remain the primary source of gambling revenue in Pennsylvania at $179.5m, down 11.2% year-on-year. Land-based table games revenue also slipped 13.4% to $72.7m.

Revenue was 10.7% lower than December 2023

Slots drive online gambling growth in Pennsylvania

In contrast, the Pennsylvania online gambling sector reported more growth. During January, revenue from igaming amounted to $149.6m, up 12.4% from last year.

Online slots revenue reached $110.0m, a rise of 22.0%. However, online table game revenue fell 7.8% to €36.9m, while internet poker revenue was almost level at $2.7m.

Hollywood Casino at P..

February 21, 2024

US gaming revenue tops $66.5bn for third consecutive record year

The American Gaming Association (AGA) has revealed US gross gaming revenue (GGR) reached an all-time high of $66.5bn (£52.7bn/€61.6bn) in 2023, the market’s third straight record year.

2023’s total was a 10% hike on 2022’s figure of $60.4bn, which in turn was a significant increase on the $53bn accumulated in 2021.

The strong numbers were aided by a record Q4. This included an all-time high quarterly revenue of $17.4bn, while a record $6.2bn in revenue was generated.

Land-based casinos continue to perform well with a record GGR of $49.4bn in 2023. This was up 3.3% year-on-year, with 19 of the 27 traditional gaming markets recording all-time highs in annual revenue.

Sports betting also demonstrated impressive growth, with $119.8bn in handle and $10.9bn in revenue – both records. These figures were up 27.8% and 44.5% respectively year-on-year.

With the National Indian Gaming Commission’s addition of tribal gaming revenue coming later this year, the US’ total GGR for 2023 is expected..