Betting News Archives

January 24, 2024

Home field advantage: Strive creates a PAM for North America

Three years on from entering a crowded, competitive field, Strive Gaming has built a foothold in the North American market. As its roster of clients expands, president Damian Xuereb aims to ride the market’s evolution through a new wave of growth.

Strive Gaming president Damian Xuereb is sure of one thing. “Strive was certainly not a first mover in the US,” he says. But the US market is approaching its sixth anniversary. Strive Gaming has been in play for just half of that.

Established by Xuereb and CEO Max Meltzer, both veterans of the post-PASPA gold rush, Strive knows the market. Coming in three years after the first bets were placed, it has watched what works and what doesn’t.

Strive’s experience of the post-PASPA Gold RUSH Sets up the business for success as the US market matures says president Damian Xuereb

“We had the advantage of understanding the state-by-state nuances in each market,” Xuereb continues. “We had the opportunity to do our research and ensure we built a pro..

January 24, 2024

CNIGA issues “warning” after California sports betting initiative scrapped

The California Nations Indian Gaming Association (CNIGA) has said the failure of another effort to legalise sports betting in California should “be a warning” against future attempts.

The two ballots aiming to legalise sports betting would have given tribes the exclusive rights to offer sports betting in California. However, they were scrapped on Monday after fierce opposition from tribes in the state given the proposals outlined.

Eagle1 Acquisitions Corp, the group of backers for a proposition to legalise sports betting in California, had made several amendments to its ballot initiative in December in an effort to gain further tribal support.

Tabled in October, the Sports Wagering Regulation and Tribal Gaming Protection Act, would allow for legal betting. If approved, the ballot would have amend Article IV, section 19 of the California constitution. This will grant tribes exclusive rights to offer retail and online betting.

However, these were rejected by the CNIGA. Following the ..

January 24, 2024

North Carolina to launch mobile sports betting on 11 March

North Carolina will launch online sports betting on 11 March 2024, with retail wagering to follow shortly afterwards.

Today (24 January), the North Carolina State Lottery Commission approved the launch date.

Players can begin to register for accounts on 1 March 2024. They can also begin to fund their accounts from this date.

If all goes to plan, North Carolina’s online sports betting market will be up and running in time for March Madness – the National Collegiate Athletic Association’s (NCAA) yearly college basketball tournament and a crucial time for sports betting.

Speculation ramped up over North Carolina’s go-live date earlier this month, when the Commission set 26 January as the deadline for operators to submit their proposed internal controls. Those hoping to operate in North Carolina must receive approval for their internal controls.

Start of the journey for sports betting in NC

The North Carolina State Lottery Commission is currently overseeing the licensing process. Cha..

January 24, 2024

DC December: sports betting revenue up despite handle decline

Player spending on sports betting in Washington DC fell again in December but revenue was up year-on-year and month-on-month.

Handle for December in Washington DC amounted to $15.3m (£12.0m/€14.0m). This was down 18.2% from $18.7m in December 2022 and 10.5% behind $17.1m in November 2023.

In terms of gross gaming revenue (GGR), this reached $2.5m in December. GGR was up 4.2% from $2.4m in December of the previous year and 108.3% ahead of $1.2m in November.

Caesars retains the lead in DC

Looking at individual operators, Caesars remained the frontrunner in the DC market during December. The operator posted $889,481 from $5.3m in total sports bets in the month.

Gambet, run by the DC Lottery and powered by Intralot, remained second. Players wagered more with Gambet than Caesars, betting a total of $5.7m. However, after paying out $4.9m in winning, this left Gambet with smaller GGR of $837,595.

FanDuel ahead of BetMGM despite lower handle in December

Elsewhere, Flutter Entertainment-..

January 24, 2024

Road to ICE 2024: Affordability checks looming large amid criticism

On the road to ICE, iGB will prep you for the biggest show of 2024 with this new series covering the latest developments since 2023's show.

The Gambling Act review white paper was a huge landmark for the UK gambling industry. The white paper outlined how gambling should be regulated in the UK going forward. Key terms included consultations on stake limits, a mandatory statutory levy for operators and the introduction of an ombudsman.

However, affordability checks have continued to be one of the reviews’ most debated issues. While many in the industry agree with the white paper’s proposals, affordability checks were met with fierce opposition from operators and trade bodies.

The need for affordability checks

Many of the white paper’s proposals were made with the intention of protecting vulnerable groups. Gambling Commission research published in November revealed that one in 40 Britons is a problem gambler.

the long-awaited white paper was released in april 2023

Lucy Frazer, ..

January 24, 2024

Road to ICE 2024: White paper opens up opportunities for land-based casinos

On the road to ICE, iGB will prep you for the biggest show of 2024 with this new series covering the latest developments since 2023's show.

In April 2023, the UK government finally released the long-awaited 2005 Gambling Act review white paper. The 260-page document outlined critical updates for the industry, focusing on bringing it into the digital age.

As such, many of the policies in the white paper were based on the public now having 24/7 internet and smartphone access. But it also contained a number of alterations for land-based venues, such as permitting casinos to offer sports betting at their premises.

Specifically, the government said it would allow “casinos of all sizes” to offer sports betting on their premises. Previously, only casinos licensed under the 2005 Gambling Act could offer sports betting.

The white paper put forward policies that would enhance player protection in land-based venues

Land-based stipulations protect players

Generally, the land-based speci..

January 24, 2024

Road to ICE 2024: Entain’s sports betting acquisitions spark trouble

On the road to ICE, iGB will prep you for the biggest show of 2024 with this new series covering the latest developments since 2023's show.

2023 was a tough year for Entain, with its heavily pursued strategy of sports betting mergers and acquisitions leading to questions over the company’s future, ultimately costing chief executive Jette Nygaard-Andersen her job.

Entain acquired Polish sportsbook operator STS Holding in August, before also finalising its purchase of Angstrom Sports in October. While those two deals were outlined as particularly beneficial by Nygaard-Andersen, she was out of a job before the full potential of the moves could be reached.

Nygaard-Andersen, who had led Entain since January 2021, resigned in December amid growing pressure, in part down to her use of the company plane, but largely because of the several expensive acquisitions made under her tenure.

Nygaard-Andersen’s exit was another sign of the waning confidence in Entain, which manifested itself a..

January 24, 2024

Underdog partners with McConnell Golf for North Carolina sports betting

Underdog Sports has partnered with McConnell Golf to support its application for a sports betting licence in North Carolina.

The deal states Underdog will host, manage, operate and support online gambling services with McConnell Golf-operated Sedgefield Country Club. Located in Greensboro, North Carolina, the venue hosts the PGA Tour’s Wyndham Championship.

Underdog said the deal is part of its licence application. Operators seeking approval to run sports betting in the state must partner with a sports team, league or venue within North Carolina.

Traditionally focused on daily fantasy sports, Underdog has recently expanded into sports betting. However, the operator is yet to launch wagering, despite having secured a sports betting licence in Ohio in late 2022.

underdog announced $35.0m in funding for sports betting n 2022

“We’ve spent the last four years building our own technology so we can give sports fans in America new and different ways to enjoy the sports they love,” Underdo..

January 23, 2024

Betr secures market access deals in Colorado, Pennsylvania and Kentucky

Microbetting operator Betr has secured market access deals in Colorado, Pennsylvania and Kentucky and has outlined its expansion plans for 2024.

Betr has agreed deals for online sportsbook and casino in Pennsylvania and for online sportsbook in Colorado and Kentucky.

In Pennsylvania, Betr’s agreement is with the Cordish Gaming Group, which is the gaming division of The Cordish Companies. This is where Betr will debut its Betr Casino product, pending regulatory approval.

Cordish Gaming Group operates resorts in Pennsylvania, Maryland and Louisiana.

Betr has agreed to a market access agreement in Pennsylvania with Cordish Gaming Group

Rob Norton, president of Cordish Gaming Group said Betr Casino will add to its existing online casino portfolio.

“We are very excited to partner with Betr on the launch of their first online casino,” said Norton.“Betr Casino will make a winning addition to the gaming options available to Pennsylvania players, which includes two of our own successful ..