Betting News Archives - Page 6 of 158

April 3, 2024

Swedish memorandum would strengthen match-fixing battle

A memorandum proposed by Sweden's government would grant greater powers to process and share data related to suspected match-fixing.

If passed, the memorandum would amend chapter 17, section 8 of Sweden’s Gaming Act by allowing licensed operators to process personal data on players if they suspect match-fixing is taking place.

The proposed changes would also allow for more information to be exchanged between Sweden’s gambling regulator (Spelinspektionen), licensees and sports associations if match-fixing is suspected.

However, the memorandum notes that a player’s “personal data” would only be processed under certain circumstances. These include if the data would determine which sporting event might have been affected by match-fixing and the amount of influence the suspected match-fixing might have had.

Therefore, the data processing would be “permitted if it is necessary to review a game for money with the aim of detecting cheating, fraud and other criminal activity” and “to c..

April 3, 2024

Rhode Island sports betting revenue plummets 42% in February

Rhode Island saw a 42% drop in sports betting revenue for February, the month before igaming went live in the state.

Rhode Island reported $2.9m (£2.3m/€2.7m) in sports betting revenue for February, significantly down on the $5m accumulated in January. February’s revenue also fell 19.4% short of the same month last year, when the Ocean State accumulated $3.6m in revenue.

The state’s February handle also declined by 13.4%, down to $38.8m from $44.8m in January. Additionally, Rhode Island’s handle dropped year-on-year, with February’s total 10% behind the $43.1m accepted in bets in the same month last year.

Online continues to command the most interest with $30.4m in handle, 78.4% of the total. Online operators paid out $30m in winnings.

Of the $8.4m in bets received by retail, Twin River led the way with $6m, while Tiverton Casino took $2.4m in wagers. Despite the large disparity in handle, Tiverton Casino actually accumulated more revenue, generating $288,000 to Twin River’s $206,0..

April 3, 2024

Ukraine considers ban on online gambling for armed forces

Ukraine's president, Volodymyr Zelensky, is to consider restricting online gambling for the armed forces following a petition from a Ukrainian soldier.

The plan for restrictions was announced during the Ukraine president’s evening address to the country’s citizens on 2 April.

The government is now preparing conditions to “tighten control” over the online gambling industry in the country to “help protect the interests of society”.

The announcement follows a petition demanding restrictions on online gambling for Ukrainian soldiers, launched on 29 March.

The petition, published on the website of the president’s office last week, collected a total of 26,041 signatures within hours of it being launched. Any petition with 25,000 signatories automatically requires presidential consideration.

The petition to restrict Ukraine online gambling

The petition, launched by a solider of the 59th brigade, Pavlo Petrychenko, aims to draw attention “to the harm that the gambling business ..

April 3, 2024

Mississippi senate committee keeps online sports betting bill alive

On 2 April, Mississippi's senate gaming committee held a special two-minute meeting in an effort to keep a statewide mobile sports betting bill alive with about a month left in the legislative session.

During the meeting, committee chairman David Blount said that he had been told that “people have been talking” about the Mississippi sports betting bill HB 774 in an effort to reach consensus. He added that “if people are talking, that is a good thing and we want to let them continue to do that.”

The committee adopted a strike-all bill, which in this case updates the bill with codes used in the house. While it does not change any of the text, it does keep the online sports betting bill alive. The state legislature is scheduled to be in session until 5 May and HB 774 passed the house on 1 February. It was transmitted to the senate on 5 February and then assigned to the gaming committee on 27 February.

Tuesday was the final day for a committee to pass out a bill that did not orig..

April 2, 2024

Nearly $200m wagered in first week of North Carolina sports betting

The Tar Heel State has released its first week's sports betting figures, with a total handle already nearing a quarter of a billion dollars.

The North Carolina State Lottery Commission has plenty of reasons to celebrate with over $198m wagered in the first week of sports betting, starting on Monday 11 March.

Detailed numbers have been released by the Commission’s first sports betting report. In total, payouts amounted to $142m from the $198m wagered, with $43m in gross wagering revenue.

A further breakdown revealed that $24m was wagered on the market’s first day. Of that total, $11m was paid out in gross wagering revenue. North Carolina is subject to an 18% tax rate on gross gaming revenue.

Which operators are live in North Carolina?

So far, the North Carolina State Lottery Commission has awarded eight interactive sports wagering licences to operators.

FanDuel, Caesars Entertainment, DraftKings, Fanatics, Bet365, BetMGM, ESPN Bet and Underdog have all secured licences.
..

April 2, 2024

Ohio sports betting revenue down by 41.4% despite Super Bowl

Sports betting revenue in Ohio fell by over 40% in February, despite the Super Bowl early in the month.

Sports betting revenue dropped 41.4% to $66.3m (£52.8m/€61.5m) in February from January’s figure of $113.1m. February’s revenue was also 18.5% down year-on-year, with Ohio accumulating $81.3m in the same month last year, which was the second month of its sports betting market launching.

Ohio also saw a 17.2% decrease in handle, from $810.4m in January to $671.1m in February. However, February’s handle amount was 5% more than the $639m in bets received in the same month last year.

$599.7m was paid out in winnings during February, while $28.3m was written off as promotions. Taxable revenue amounted to $67.6m.

Ohio’s online sports betting sector continues to dominate the market. It was responsible for $66.4m in revenue and $657.7m in handle, the latter of which accounts for 98% of the monthly total. Retail actually finished in the red for the month, losing $122,288 during February.
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April 2, 2024

Virginia wagering revenue report: February handle up 26% over last year

Virginians laid down $545.1m in bets in February, a 25.6% increase over the same period in 2023. Sportsbooks paid the state a total of $6.3m in taxes and had a hold of 9.18%.

Sportsbooks are taxed at 15% of adjust gross revenue (AGR). According to the Virginia Lottery wagering revenue report, 11 operators finished the month with “net positive AGR”.

Mobile betting accounted for $540m of the total while bettors wagered a combined $4.9m at retail locations. Promotions and deductions continued to decrease. After one senator proposed a cap on allowing operators to write off deductions in 2023, Virginia’s governor, Glenn Youngkin, went a step further and included a 12-month sunset on promotional deductions in his budget.

In total, four new operators also went live in 2023 in Virginia: Bet365 on 31 January 2023; Betfred on 1 February 2023; Betr on 6 September 2023 and SuperBook on 19 October 2023.

Betr, SuperBook only operators that can deduct promos

Bet365 and Betfred have passed th..

April 2, 2024

Nevada gambling revenue climbs again to $1.34bn in February

Gambling revenue in Nevada increased 8.5% year-on-year to $1.34bn (£1.07bn/€1.25bn) in February, driven by growth within the baccarat segment.

Revenue was clear of $1.24bn in February last year. It was also 4.7% higher than $1.28bn in January this year – the strongest opening month to a calendar year in Nevada history.

Slots drew the most revenue at $827.6m for the month, an increase of 0.6% from 2023. Of this total, $536.6m came from multi-denomination slot games and $207.6m penny slot machines.

However, only multi-denomination slot games reported growth in February. Revenue was lower across all other game types within this segment.

Baccarat was the highest area of growth during February. Revenue here was 75.5% higher at $180.1m. Blackjack revenue was also up 15.6% to $132.5m with craps revenue rising 22.0% to $44.7m.

Other areas of growth include Ultimate Texas Hold’em, where revenue edged up 4.4% to $18.0m, and pai gow poker 4.7% to $10.4m.

Sportsbook revenue rises as Nevada ..

April 1, 2024

Pari-mutuels to SCOTUS: Florida court decision in conflict with federal opinion

West Flagler and Associates (WFA), the pari-mutuel suing the US Department of the Interior over the validity of the 2021 Florida-Seminole tribe compact, filed a brief in US Supreme Court on 29 March arguing a state court opinion is in conflict with a lower federal court.

Should SCOTUS take the case – the court takes 100-150 of about 7,000 filed per year – it could change the state of wagering in Florida.

The Seminoles launched their Hard Rock Bet platform last November despite awaiting action on court cases in the Florida and US Supreme Courts. In Florida, WFA was suing Governor Ron DeSantis and the legislature saying they were out of bounds when they approved the compact. The Florida Supreme Court denied the petition on 21 March, saying that WFA chose the wrong “vehicle” to file.

Late last week, WFA filed a supplemental brief in its writ of certiorari that is pending at SCOTUS. In the filing, WFA lawyers wrote that the Florida Supreme Court denial leaned on the idea that the cas..