Betting News Archives

November 3, 2023

Oklahoma governor sets out legal sports betting plans

Kevin Stitt, the governor of Oklahoma, has set out proposals to legalise online and in-person sports betting in the US state.

Oklahoma is one of only 15 states yet to regulate sports wagering. However, Stitt’s proposal could open the door for the state to open a legal market.

Plans are at an early stage, but Stitt has set out how the market could work in Oklahoma.

Retail betting would be limited to federally recognised Indian tribes, in line with a state-tribal gaming compact. Stitt said in-person wagering revenue would be taxed at a rate of 15%.

As for mobile betting, Oklahoma would award licences for operators to offer this form of betting to players. Licences would cost an initial $500,000 (£409,795/€470,463), plus an annual renewal charge of $100,000.

Mobile licence-holders would be able to accept sports bets from anywhere inside the state of Oklahoma. They would also be subject to a higher tax rate than retail operators, with this set at 20% of revenue.

“I promised Oklahoman..

November 2, 2023

Hungary national lottery partners OddsMatrix for sportsbook revamp

Hungary national lottery operator Szerencsejáték Privately Held Company Limited (SZRT) has launched a revamped online sportsbook via a partnership with EveryMatrix-owned OddsMatrix.

The new-look TippmixPro website is now live with an OddsMatrix-powered sportsbook and platform services. Players in Hungary can place bets across a wide range of sports leagues and competitions.

EveryMatrix won a public tender in January to provide the operator with a digital sports betting software solutions and services. The sportsbook contract was awarded to EveryMatrix after a 15-month competitive procurement process that attracted over 25 bidders.

The Hungary sportsbook project, EveryMatrix said, was one of its most complex integrations and involved a number of its specialist teams.

GamMatrix, the platform unit of EveryMatrix, purpose-built operational and safer gambling features for the sportsbook. These include rapid, multi-step registration and self-exclusion functionality, in line with SZRT an..

November 2, 2023

Maine to launch legal sports betting on 3 November

Maine will launch its legal online and retail sports betting markets tomorrow (3 November), with players able to start placing wagers from 9am local time.

Milt Champion, executive director for the Maine Gambling Control Unit (GCU), confirmed the news to iGB ahead of the launch. This comes after the Department of Public Safety (DPS) and GCU announced rules for wagering in Maine have been adopted.

Licensed operators and their management service were permitted to begin promoting their offerings from 1 November. They have also been able to accept registrations and deposits in preparation for tomorrow’s launch.

“I’d like to thank the dedicated staff at DPS, GCU, Adcare Maine Problem Gambling Services, the attorney-general’s Office and the sports wagering industry for their input and patience in the rulemaking process,” Champion said.

Long road to sports betting in Maine

The confirmed launch comes almost 18 months after sports betting was legalised in Maine.

The state’s governor, Jane..

November 2, 2023

ESPN Bet to launch on 14 November

ESPN Bet, the gaming brand backed by the sports broadcasting giant, is to launch across 17 US states on 14 November.

Penn Entertainment, which will operate the brand, made the announcement in its Q3 trading update, published earlier today. ESPN Bet’s launch is the product of a $1.5bn (£1.2bn/€1.4bn) partnership with Disney-owned ESPN, the largest sports media brand in the US. When the deal was announced in August, Penn said the brand – which replaces its Barstool Sports operation – could add up to $1.0bn to its long-term adjusted EBITDA potential.

ESPN Bet’s logo

The 14 November debut has been timed to coincide with the busy sports calendar during Thanksgiving week. Highlights include NCAA college football rivalry week and the Super Bowl rematch of the Kansas City Chiefs and the Philadelphia Eagles televised on ESPN’s Monday Night Football.

Jay Snowden, Penn’s CEO and president, said: “This strategic alliance is expected to further expand our digital ecosystem and drive re-engageme..

November 1, 2023

Seminole Tribe plans Florida sports betting relaunch in December

The Seminole Tribe of Florida has set out plans to launch sports betting, roulette and craps at all six of its casinos across the state in December.

This would signal the end of a turbulent journey for the Seminoles. The tribe agreed a new gaming compact with Florida in April 2021, with this signed off by state governor Ron DeSantis.

A series of legal challenges have prevented the Seminole Tribe from pushing forward with its expanded gambling plans earlier. However, the tribe says recent developments clear the way for it to launch.

Craps, roulette and sports betting will launch on 7 December at Seminole Hard Rock Hotel & Casino Hollywood, Seminole Classic Casino in Hollywood and Seminole Casino Coconut Creek. The Seminole Hard Rock Hotel & Casino Tampa will follow a day later.

The final two properties – Seminole Casino Immokalee and Seminole Brighton Casino – will go live on 11 December. The tribe will host a series of events to mark the occasion, with further details being announc..

November 1, 2023

Nevada gambling revenue climbs to $1.27bn in September

Gambling revenue in Nevada edged up 1.6% year-on-year to $1.27bn in September, despite a decline in slots revenue.

Revenue for the month was marginally higher than $1.25bn in September 2022. The total was also 5.0% ahead of $1.21bn in Nevada in August of this year.

Slots were again the primary source of revenue in Nevada, generating $814.6m during the month of September. However, this was 5.1% less than in the same month last year.

Multi-denomination slots were the game of choice for consumers, drawing $473.9m worth of revenue, up 5.7%. Penny slots collected $249.0m, which was 16.8% lower than in 2022.

Nevada baccarat revenue rockets 85.8%

Meanwhile, table, counter and card games revenue increased 16.6% to $456.0m. Baccarat proved most popular with players, generating $148.8m in revenue, up 85.8% on last year.

As for other games, blackjack revenue climbed 12.9% to $97.7m and revenue from craps increased 12.2% to $36.5m. However, roulette revenue slipped 8.9% to $36.9m.

There was..

November 1, 2023

How Adam Greenblatt is sharpening BetMGM’s competitive edge

Adam Greenblatt set BetMGM on a path to profitability and the business will be self-sustaining in the second half of 2023. How will he make sure the operator stays ahead in the US sports betting market as new competitors emerge?

July’s update on BetMGM’s first half performance confirmed the operator was on the path to profitability outlined by CEO Adam Greenblatt in June.

The business will be self-sustaining in the second half of the year. There will be no additional equity investment from joint venture partners MGM Resorts and Entain, beyond the $150m committed for 2023.

BetMGM CEO Greenblatt believes a new phase of competition could be imminent in the US

Greenblatt believes that BetMGM could operate as a separate business and stand on its own two feet if necessary.

“It could be a permanent state, absolutely,” he says of BetMGM as a self-sustaining entity. “[But] I think whether or not that is indeed a permanent state depends on how we want to ramp up and how quickly we want t..

November 1, 2023

DraftKings partners Passamaquoddy tribe for Maine sportsbook

DraftKings has reached an agreement in principle to partner with the Passamaquoddy tribe and launch an online sportsbook in the state of Maine.

The deal, DraftKings says, remains subject to licensing and regulatory approvals. Should it get the green light, DraftKings and the Passamaquoddy tribe will jointly launch the Maine-facing sports betting offering.

Players aged 21 and over will be able to access the DraftKings sports betting app. This offers a wide range of wagering options across various sports leagues and competitions.

The launch would mark the 25th US state in which DraftKings offers sports wagering.

“Building a relationship with the Passamaquoddy tribe is a fantastic opportunity for DraftKings, as we look to bring customers in the state of Maine safe and legal sports betting,” DraftKings co-founder and CEO Jason Robins said.

“We look forward to our continued collaboration with the Maine Gambling Control Unit as we become the official mobile sports betting provider of ..

October 30, 2023

Exploring the potential and pitfalls of AI in sports betting

Artificial intelligence (AI) poses significant opportunities and challenges in nearly every sector, including the sports betting industry. In this two-part series, Russell Karp, senior vice-president of DataArt, delves into the most promising opportunities for sports betting in an AI-driven era.

Undoubtedly, AI technology plays a pivotal role in the sports betting industry.

From enhancing data analysis and odds calculation to refining user experience and supporting responsible gaming, AI stands at the intersection of innovation and user satisfaction.

AI-based customer relationship management (CRM) systems can be used to analyse user behaviour, preferences and trends to personalise digital experiences for bettors. This helps sportsbooks gain an edge over the competition while keeping their clients happy.

However, while the benefits are clear, the incorporation of AI in sports betting is not without its challenges. These may range from security concerns and data privacy issues to eth..