Betting News Archives

January 11, 2024

Sports Betting Alliance opposes California sports betting ballots

The Sports Betting Alliance (SBA), a group of leading US gambling operators, has declared its opposition to two sports betting ballots in California, saying it will not financially support either initiative.

Both ballots would give tribes exclusive rights to offer retail and online sports betting in California. They were filed with the state’s attorney-general in October 2023.

CALIFORNIA’S SPORTS BETTING BALLOTS WERE FILED WITH THE STATE’S ATTORNEY-GENERAL IN OCTOBER 2023

The two ballots name Reeve Collins, co-founder and CEO of Pala Interactive, as the contact for media inquiries. Pala Interactive was founded by the Pala Band of Mission Indians in 2013. It was acquired by Boyd Gaming in November 2022.

Authors of the ballots have been seeking financial support for signature gathering from sports betting operators. However, SBA members – BetMGM, DraftKings, FanDuel and Fanatics Sportsbooks – have said they will not provide funding.

SBA blasts proposed ballots

SBA spokesperson Nat..

January 11, 2024

North Carolina sports betting launch edges closer as internal controls deadline set

North Carolina has taken a step closer to launching legal sports betting after the US state’s lottery commission set a deadline of 26 January for operators to submit their internal controls.

Operators applying for a sports betting licence in North Carolina must send over proposed controls by this date. The North Carolina State Lottery said this helps ensure the applicant is ready to launch on the market’s opening day.

The deadline was set during a Commission meeting staged yesterday (10 January). During the same meeting, the Commission approved processes and documents advising applicants on submitting internal controls for approval.

Each licensed operator must receive approval of internal controls before offering bets in North Carolina.

Uncertainty remains over opening date

the north carolina application process launched at the start of december

North Carolina is yet to set a launch date for legal sports betting, although it is expected to be in March 2024. Commission chair Ripl..

January 11, 2024

Vermont opens legal sports betting market

Vermont has announced the launch of its legal sports betting market, with players in the Green Mountain State now able to wager on sports with DraftKings, FanDuel and Fanatics.

The Vermont market opened at midnight local time today (11 January). Governor Phil Scott and department of liquor and lottery commissioner, Wendy Knight, confirmed the launch date last month.

Scott signed House Bill 127 into law in June of last year, legalising sports betting in the state. The bill permits up to six online sportsbooks to operate in Vermont. Licensed operators will pay tax at rate of 20% of adjusted gross sports betting revenue.

vermont signed house bill 127 into law in june 2023

So far, three operators have been approved to offer mobile sports betting. The Vermont Department of Liquor and Lottery selected DraftKings, FanDuel and Fanatics Sportsbook through a competitive bid process.

“We are pleased to have selected three of the industry’s top companies to offer Vermonters and visitors the o..

January 10, 2024

Maryland breaks sports betting handle again in December

In December Maryland set a new sports betting handle record for the second consecutive month, with players spending a total of $559.9m (£439.6m/€510.6m).

The December total, including promotional bets, is 1.7% ahead of the previous Maryland record of $550.7m in November. It is also 17.1% ahead of the $478.3m bet in December 2022, the first full month of legal online betting.

Of this total, some $541.7m was bet online, representing 96.7% of all bets. This included $19.7m in free promotional wagers. The remaining $6.2m was spent by players betting at retail sportsbooks across Maryland, with $32,146 in free bets.

Turning to revenue, overall taxable win in the state was $62.3m in December. This was 49.8% up from $41.6m in November but 26.7% behind $85.2m in December 2022.

Mobile betting generated $60.1m in hold, with retail’s contribution at $2.3m.

After accounting for $19.8m in promotional wagers, monthly revenue stood at $43.2m. The December figure was more than double November’s $2..

January 10, 2024

Road to ICE 2024: Sports betting advertising coming under fire

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.

2024 is set to be an intriguing year for sports betting, particularly when it comes to advertising, where operators’ marketing is set to come under more scrutiny than ever before.

This will be particularly prominent in the United Kingdom. The culture, media and sport (CMS) committee recently called for a reduction in sports betting advertising to protect children.

The white paper, published in April 2023, intended to outline how gambling should be regulated in the UK. However, it received criticism for its lack of measures on how to tackle advertising. The CMS committee is pushing for more to be done in 2024 than was outlined in the white paper.

Pressure to reduce sports betting advertising could also prove a common theme across Europe this year. France, Belgium and the Netherlands all took steps in 2023 to reduce the amount of visible gam..

January 10, 2024

Georgia sports betting bill returns to senate

A bill seeking to legalise sports betting in Georgia has been recommitted to the US state’s senate.

Senate Bill 172 was submitted in Georgia in February last year by State Senator Bill Cowsert. It went up against a rival bill, HB380, that also sought to regulate and legalise sports betting in the state.

The bill made it as far as a third reading in the senate. It was shelved in August but has now returned as sponsors seek to push through the bill and launch legal wagering.

The latest version of SB172 is very much unchanged in its core goal. Measures set out in the bill are near enough identical to last year’s version, with proposals covering matters such as licence fees and tax.

No limit on licences issued in Georgia

SB172 comprises several licence types, with each having different fees. The Georgia Sports Betting Commission would oversee the awarding of licences.

A type one sports betting licence covers wagering through an online sports betting provider. This would command an..

January 9, 2024

LiveScore FY23 sees revenue boost of 48.9%

LiveScore reported revenue of £129.6m ($165.0m/€150.8m) in its full year 2023 results, an increase of 48.9% yearly.

LiveScore’s full-year period ended 31 March 2023. Its full-year report focused on operations within its Virgin Bet, LiveScore Bet and sports media business.

Gambling made up £108.0m of the total revenue, up by 57.3% compared to full-year 2022. The remaining revenue came from advertising, which totalled £21.6m. This was an increase of 17.7%.

livescore’s sam sadi detailed the company’s future plans for the group to igb in october 2023

In October 2023, LiveScore chief executive Sam Sadi detailed future plans for the group to iGB. He explained that LiveScore intends to be the number one sports media operator globally, as opposed to the number one betting operator.

Looking at revenue by location, LiveScore saw a majority of its revenue made in the UK and Ireland, totalling at £100.3m – up by 40.0%.

However, the largest jump in revenue was seen in its Rest of Europe divi..

January 9, 2024

GiG powers Betway launch in Portugal

Gaming Innovation Group (GiG) has partnered with Betway to support the online sports betting operator’s launch in Portugal.

Under the arrangement, GiG is providing its igaming platform and sportsbook to Betway in the country.

Plans for the Portugal-facing deal were first announced back in April 2022. Betway secured licences for sports betting and igaming in the country in February 2020.

plans for the launch were first announced in april 2022

Betway becomes the second B2B partner to launch with GiG in Portugal. GoldenPark also went live in the country last year, utilising GiG’s player account manager and sportsbook.

“As part of our ambitious growth strategy for Portugal in 2024, this GiG platform will help play a role in expediting our objectives to elevate the sports betting experience for existing Betway customers in Portugal and appealing to new ones,” Betway CEO Anthony Werkman said.

“This agreement will also allow our teams to work in synergy to reach our shared goals and as..

January 9, 2024

Maine sports betting handle exceeds $44.0m in December

Players in Maine spent $44.0m (£34.5m/€40.2m) betting on sports in December, while the Pine Tree State’s two licensed operators – DraftKings and Caesars – generated $4.4m in adjusted gross receipts.

Total handle for December amounted to $44.5m. This was 18.4% higher than the $37.6m spent in Maine during November, the state’s first month of legal betting.

Maine launched its regulated market on 3 November 2023, with December being the first full month of legal sports wagering.

maine launched its regulated market in november 2023

Bettors won $39.9m from betting in December. After discounting these winnings, $107,478 in federal excise and $132,376 worth of voided and cancelled bets, adjusted gross receipts of $4.4m were left. This was 4.4% lower than $4.6m in the opening month.

The State of Maine Gambling Control Unit added that legal betting generated $437,884 in tax. Both DraftKings and Caesars pay tax at a rate of 10% of adjusted gross receipts.

DraftKings the Maine player

So fa..