Betting News Archives

September 6, 2023

Malta regulator cancels Tipster’s licences

The Malta Gaming Authority (MGA) has cancelled Tipster Limited’s licences in the country after the business was recently wound up.

The regulator in July suspended Tipster in response to the winding up order and is now proceeding with full cancellation. This, the MGA, said was the most “appropriate” measure.

Tipster must now notify all players of the cancellation and settle outstanding fees with the regulator. The sports betting operator is also ordered to remove any reference to MGA licensing from its websites.

All licence cancellations and suspensions in Malta are open to appeal.

Tipster faces insolvency proceedings

The licence suspension and subsequent cancellation come after insolvency proceedings were launched against Tipster in June. Dr Jörg Gollnick was appointed as its provisional insolvency administrator.

Gollnick is also the provisional insolvency administrator for Tipster Service GmbH, part of the Tipster group. At the time, Gollnick said the restructuring hinges on the..

September 4, 2023

Rhode Island sports betting handle slips to three-year low in July

Players in Rhode Island spent $20.2m (£16.0m/€18.7m) wagering on sports in July, the lowest monthly total for three years.

The figure was 19.8% down from $25.2m in July 2022 and 14.8% lower than $23.7m in June of this year. It was also the shortest monthly spend since July 2020 when $6.7m was bet by players.

Some $15.4m of the monthly spend was attributed to online betting. A further $4.9m was wagered at retail sportsbooks within Twin River and Tiverton Casino, split $3.0m and $1.9m, respectively.

In terms of revenue, $1.9m was generated in Rhode Island in July. This was 34.5% behind $2.9m in 2022 but marginally ahead of $1.8m in June.

Of this total, $1.5m came from online betting, while retail’s share totalled $293,397. Twin River generated $298,879 in betting revenue but Tiverton Casino posted a $5,482 loss, bringing the total slightly down.

Rhode Island legalises igaming

Confirmation of the July figures comes in the wake of Rhode Island moving to legalise igaming.

Governor Da..

September 4, 2023

Revenue dips as US plans gear up at BlueBet

Net revenue at sports betting operator BlueBet decreased marginally year-on-year for FY23, while turnover perked up as its US expansion plans took shape.

Revenue was AU$49.0m (£25.1m/€29.3m/US$31.7m) for the 12 months to 30 June, dipping by 1.3% compared to FY22. Turnover increased by 4.8% to AU$536.6m.

BlueBet pointed to its performance in Australia as a particular highlight for the year. But its full-year results came days after it was issued a $945,187 fine by the Victorian Gambling and Casino Control Commission (VGCCC). This figure could change subject to further legal proceedings. BlueBet displayed three advertisements on billboards between 29 August and 11 September last year, breaching state laws on marketing.

BlueBet’s active customers in Australia shot up by 22.7% to 65.4 million. Turnover grew 3.5% to $530.0m, accounting for a majority of the overall turnover for the year. BlueBet attributed this growth to a 24.0% increase in marketing spend, which was due to increased inv..

September 1, 2023

Boom Entertainment acquires NBC Sports’ predictions app

US gaming group Boom Entertainment has acquired the NBC Sports Predictor from entertainment giant Comcast.

The New York-headquartered game developer and technology provider will now take full control of the free-to-play app having acted as NBC Sports’ development and operating partner on the product since its launch in 2019.

NBC Sports Predictor has welcomed nearly two million sign-ups over the last four years, with tens of millions of predictions played.

The product will be re-branded Predictor, with plans to launch several new game formats before the end of the year. No financial details were given concerning the acquisition.

“NBC Sports Predictor has been a significant part of Boom’s story since its launch,” said Stephen A Murphy, Boom’s co-founder and chief executive. “This was the first product we built that attracted millions of sports fans and we are honoured to become stewards of the product and introduce new ways to play for sports fans.

“Over the last several years, NBC..

September 1, 2023

DOI blasts West Flagler over Florida sports betting rehearing request

The US Department of Interior (DOI) has hit back at West Flagler’s “strawman arguments” over its request for a rehearing in the Florida sports betting case.

In a 25-page response, the DOI criticised the en-banc hearing request by two Florida pari-mutuel betting operators, after the businesses lost their case in the DC Circuit Court challenging the Seminole Tribe’s compact with the State of Florida.

The compact, through its “hub and spoke” model, grants Seminole the exclusive right to offer online sports betting in the Sunshine State. The tribe plans to launch the offering through its Hard Rock Bet brand.

the original ruling cleared the compact’s “hub and spoke” model from federal objections

‘Rehearing is unwarranted’

The department pushed back against the “erroneous assertions” of the pari-mutuels. It argued the compact does not legalise the placing of bets. As evidence, it highlighted that the court’s decision does not prevent the plaintiffs from challenging the compact in the s..

September 1, 2023

Fanatics completes PointsBet deal in eight US states

Fanatics Betting and Gaming (FBG) has closed on the first eight states in its previously announced acquisition of PointsBet’s US business.

Following regulatory approvals, the deal has now completed in major markets such as New Jersey and Pennsylvania. FBG has also completed in Colorado, Iowa, Kansas, Maryland, Virginia and West Virginia.

PointsBet confirmed that the Fanatics subsidiary has now paid the initial instalment of $175m of the $225m headline purchase price. The price was agreed in June 2023.

From today, customers in each of the eight states will see PointsBet rebranded to “PointsBet, a Fanatics Experience”. The rebrand will complete in Indiana and Illinois in the coming months.

PointsBet USA will continue to operate in Illinois, Indiana, Louisiana, Michigan, New York and Ohio. This will be until Fanatics is able to close on selected states individually.

“We are excited about what we are building at Fanatics Betting and Gaming and this acquisition accelerates our plans,” ..

September 1, 2023

Ontario: The state of play

More than a year on from the regulation of the Ontario gaming sector, gambling businesses have each adapted to the market in their own way. But how can operators stand out from the crowd in North America’s most competitive market?

With every gold rush comes the prospectors.

In the 16 months following the regulation of the gaming sector in Ontario, gambling operators of all shapes and sizes have thrown the dice to get a slice of the biggest and most dynamic market in North America.

Those involved range from former grey market players trying to make the regulated transition, the big European operators, media brands which have grown a betting wing and land-based companies trying to get in on the action – plus everything in between.

The landscape

Ontario has become an incredibly competitive market, with iGaming Ontario recording 46 companies operating 71 brands as of Q1 2023.

However, one trend to note is its diversity. This is especially striking when compared to the US which, butt..

August 31, 2023

Nevada posts record monthly win in July

Nevada generated record gaming win of $1.4bn (€1.3bn/£1.1bn) in July fuelled by a lucrative month for the famous Las Vegas Strip.

Figures released by the Nevada Gaming Control Board, show total gaming win posted by casinos and sportsbooks was up 6.7% on July 2022. Nevada’s gaming sector has now generated gaming win of more than $1bn for 29 consecutive months.

The figures were driven by the state’s second-highest table game revenue total for a single month at $513.1m. This was up more than 7% year-on-year.

Revenues on the Las Vegas Strip came to almost $834.9m, up by 7.9% compared to the same period in 2022 and an increase of 14.8% on the $727.3m reported during June.

July’s revenues were an all-time record for the Las Vegas Strip, outperforming the previous record of $792.6m set in July 2021.

Nevada sports betting operators reported $25.3m in revenue, representing an increase of 55.7% compared to July 2022. Mobile and online betting accounted for 65.7% of all sports wagers during ..

August 30, 2023

Episode 21: The next step for Brazil

On the 21st episode of the World Series of Politics, hosts Brandt Iden and Brendan Bussmann are joined by Neil Montgomery, founding and managing partner at Montgomery & Associados and Hugo Baungartner, VP for global markets at Aposta Ganha to take an intercontinental deep dive into Brazil.

But before heading over to LatAm, our hosts discuss the progress made in Florida since episode 20 was released.

In the weeks since, West Flagler filed an en banc rehearing. Instead of dismissing this petition, the court has asked the Seminoles for a response – which is due on 31 August.

With so much red tape, it’s assumed that sports betting in Florida will not come any time soon. However, the idea that it could launch during the upcoming NFL season is not out of the realms of possibility.

What’s on the cards for Brazil?

Meanwhile, in Brazil, Neil Montgomery says “anything’s possible”.

The country regulated sports betting in July, after president Luiz Inácio Lula da Silva signed the Provisional..