Betting News Archives - Page 39 of 158

November 23, 2023

Wyoming smashes online sports betting records in October

Bettors in Wyoming wagered $21.2m (£16.9m/€19.5m) on sports online during October, the highest monthly amount since the Equality State opened its legal market, while revenue also reached an all-time high.

The October total exceeds the previous record of $19.2m set in Wyoming in September this year. It was also 23.4% higher than October of last year.

Gross gaming revenue for the month amounted to $2.3m, another new record for the state. This is up 15.0% from last year and 53.3% more than $1.5m in September 2023.

There was also an all-time monthly high for taxable gaming revenue of $1.4m. This increased 21.7% from October 2022 and 172.6% from $517,523 in September.

Wyoming players won a total of $19.0m from online sports betting, while tax hit a record $141,087.

DraftKings led the market with $1.4m in revenue from $12.5m. FanDuel placed second in Wyoming with revenue of $402,961 and a $4.9m handle.

Meanwhile, BetMGM posted $378,344 in revenue from $3.5m in online sports bets. Caesa..

November 23, 2023

The art of harnessing artificial intelligence for sportsbooks

As we’ve seen this year, the groundbreaking and rapidly evolving technology powering artificial intelligence (AI) is sure to revolutionise the economy, including the world of sports betting. In the second part of this two-part series, Russell Karp, senior vice-president of DataArt, focuses on the many ways sportsbooks can benefit from harnessing the art of AI.

Today, one of the most promising uses of AI in sports betting is bettors’ ability to use the technology to place bets more strategically and attempt to minimise their losses.

Apps like BettorTakes and Juice Reel aim to boost users’ performance through comprehensive analytics of their past betting behaviours. As BettorTakes CEO Steve Rubenfaer described in an interview with DataArt this year, the app “show[s] you your patterns, biases and things you might not know about yourself”.

With these apps, AI can be used to assess bettors’ gambling history, in addition to player or team stats. AI can then present digestible, comprehensi..

November 23, 2023

Road to ICE 2024: Sports betting heads to LatAm

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.

As we begin our road to ICE 2024, Brazil remained a prominent market this year for LatAm, particularly after sports betting was finally legalised in July after president Luiz Inácio Lula da Silva signed Provisional Measure (PM) No. 1,182.

Hallelujah: Brazil saga nears its end before ice 2024

This brought an end of years (and years) of delays. However, unsurety remained as the PM still needed to be okayed by Brazil’s National Congress within 120 days.

The PM itself came mired in controversy. Its signing meant that the 2018 sports betting measures implemented in Law No. 13,756 were also passed – but with a number of amendments.

Naturally, the industry wasn’t too pleased with these developments. Luiz Felipe Maia, founding partner of Brazilian law firm Maia Yoshiyasu Advogados told IGB that reactions to the PM were “99% negative”, due to “th..

November 23, 2023

Road to ICE 2024: Sports betting heads to LatAm

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.

As we begin our road to ICE 2024, Brazil remained a prominent market this year for LatAm, particularly after sports betting was finally legalised in July after the president, Luiz Inácio Lula da Silva, signed Provisional Measure (PM) No 1,182.

Hallelujah: Brazil saga nears its end before ice 2024

This brought an end to years (and years) of delays. However, uncertainty remained as the PM still needed to be okayed by Brazil’s National Congress within 120 days.

The PM itself came mired in controversy. Its signing meant that the 2018 sports betting measures implemented in Law No 13,756 were also passed – but with a number of amendments.

Naturally, the industry wasn’t too pleased with these developments. Luiz Felipe Maia, founding partner of Brazilian law firm Maia Yoshiyasu Advogados, told iGB that reactions to the PM were “99% negative”, due..

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..

November 22, 2023

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 ..

November 22, 2023

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..

November 22, 2023

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..

November 22, 2023

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..