Betting News Archives

August 17, 2023

Arizona betting handle reaches $393m in June

Consumers in Arizona wagered $393.2m on sports in June, an increase on last year’s handle but another month-on-month decline in the state.

The June handle was 23.3% ahead of $318.8m in the same month last year but 12.0% behind $446.9m in Arizona in May 2023.

Some $390.3m was spent betting online, with just $2.3m wagered at retail sportsbooks in Arizona.

Players won $364.9m from sports betting, leaving $27.7m in adjusted gross event wagering revenue before free bets. This represented a 79.9% increase from $15.4m in 2023 but an 18.9% fall from $33.9m in May.

Online betting adjusted gross event wagering revenue before free bets amounted to $27.6m. In contrast, retail’s share reached just $31,060.

Free bets in Arizona hit $11.4m

When taking off $11.4m in free bets and promotional credits, adjusted gross revenue hit $16.4m. This was 113.0% up from $7.7m last year but less than half May’s $33.9m total.

Online betting drew $16.3m in adjusted revenue total, compared to $31,060 from reta..

August 17, 2023

New Jersey gambling revenue surpasses $500m in July

Gambling revenue in New Jersey exceeded $500.0m in July following year-on-year growth in almost all areas of the market.

Revenue for the month amounted to $506.2m. This was 5.3% up on last year and also 10.7% higher than New Jersey’s total in June of this year.

Land-based casino gambling drew $290.0m in revenue during the month, down 3.0% on July 2023. This was due to a 13.2% drop in table games revenue to $72.2m. In contrast, revenue from physical slot machines, the largest source of revenue in the state, edged up 0.9% to $217.8m.

Turning to online gambling and overall revenue in this segment was 13.5% higher year-on-year at $155.2m. Online slots revenue jumped 13.4% to $152.5m while peer-to-peer poker revenue was 18.5% higher at $2.7m.

Breaking down this market, Borgata moved into top spot with $43.0m. This was higher than Resorts Digital on $40.6m and Golden Nugget, which led the market in June, with $39.8m.

New Jersey sports betting revenue up over 35%

Looking at sports wager..

August 17, 2023

New Hampshire sports betting spend dips to $36.9m in July

Player spending on sports wagering in New Hampshire fell 13.6% year-on-year to $36.9m in July, while revenue also declined.

July’s handle in New Hampshire was down from $42.7m in July 2022 and also 6.1% lower than $39.3m in June this year.

Of this total, $33.4m was wagered online with DraftKings and $3.5m at retail sportsbooks. DraftKings has held the exclusive rights to offer sports betting online via the New Hampshire Lottery since November 2019.

Turning gross gaming revenue from wagering, this amounted to $3.5m. The July total was down 22.2% from $4.5m last year and 20.5% behind $4.m in June 2023.

Breaking down the monthly revenue performance, some $1.4m came from online betting with DraftKings. Retail sportsbooks generated just $179,994 in revenue.

In terms of tax, New Hampshire was able to generate $1.6m during the month.

New Hampshire betting revenue and handle up in FY23

July was the first month of the state’s new financial year. During fiscal year 2023, players spent a t..

August 17, 2023

Impairments push Rank Group to FY loss despite land-based recovery

Rank Group posted a 5.9% increase in revenue to £681.9m (€798.0m/$868.1m) in its 2022-23 financial year, although increased impairment costs led to a statutory net loss.

The operator reported year-on-year growth across all operating segments in the 12 months to 30 June. This included the Rank-owned Grosvenor, Mecca and Enracha land-based businesses, which endured a challenging few years during the pandemic.

There was also notable growth within Rank’s digital business, with revenue rising 10.4% to reach £202.9m.

However, higher impairment charges, together with increased operating costs, meant the business posted a net loss.

O’Reilly believes economic pressures are easing

Chief executive John O’Reilly acknowledged the higher costs during his evaluation of the FY performance. However, he said with certain costs now stabilising and inflation easing, this will allow for revenue and profit growth moving forward.

After Covid and economic headwinds, rank is positioned to drive profit ..

August 16, 2023

Caesars upgrades William Hill Nevada mobile sportsbook

William Hill has revealed its upgraded Nevada mobile sportsbook app.

The revamped offering sees William Hill’s mobile betting app migrate to Caesars’ proprietary Liberty platform.

Caesars has owned William Hill’s US business since September 2020, when it purchased the company in a £2.9bn deal. The operator later sold William Hill’s non-US assets to UK-facing operator 888 for £2.0bn.

Read the full story on iGB North America

August 16, 2023

Fanatics launches online sportsbook in four states

The latest challenger to the US online sports betting market, Fanatics Betting and Gaming (FBG), has launched its online sportsbook in Maryland, Massachusetts, Ohio and Tennessee.

After six months of beta testing, the Fanatics Sportsbook is now available to download on iOS and Android.

FBG highlights the new platform’s simplified betting and transparent withdrawals as features that will help it appeal to sports fans.

The sportsbook includes live scores, plus lines and odds for teams and athletes. Also included are moneyline bets, spread bets, over-unders, player props, live-in-game betting markets and same-game parlays.

Fanatics bets on product quality

“After six months of beta testing, we are excited to officially launch the Fanatics Sportsbook product to the public,” said FBG chief product officer Scot McClintic.

the fanatics sportsbook

McClintic also pointed to the business’ extended focus on product quality as key to its strategy.

“We are laser focused on solving pain poi..

August 16, 2023

FL sports betting hits latest obstacle as rehearing petition filed

The relaunch of the Seminole Tribe’s Hard Rock Bet online sportsbook may face another delay, as pari-mutuel betting operator West Flagler Associates files a petition calling for a rehearing of the case it lost on 30 June.

On 14 August, West Flagler submitted a petition for rehearing to the DC Circuit court, following the betting operator’s loss in the recent West Flagler Associates vs Haaland case.

This case cleared the path for the Seminoles to offer sports betting statewide in Florida, by confirming the state’s “hub-and-spoke” model sports from federal objections.

West Flagler file en banc rehearing

West Flagler’s filing called for an en banc rehearing. This means the case would be reheard by all judges on the bench at the DC Circuit Court, as opposed to the panel of three that heard the original case.

According to the Yale journal on regulation, a successful en banc rebench petition is a rare event in the DC Circuit.

the dc circuit rarely grants a en banc rebench petition

August 16, 2023

Massachusetts sports betting handle dips below $300m in July

Player spending on sports betting in Massachusetts fell for the fourth consecutive month in July, while revenue was also down month-on-month.

Total handle for retail and online sports betting reached $294.9m. This was 11.3% less than $332.0m in June and the lowest monthly total since the launch of legal online betting in April.

It was also the first time that combined land-based and internet betting spend fell below $300.0m.

Online wagering accounted for $288.1m, down 10.9% month-on-month. Retail betting also fell 20.0% to $6.8m.

Handle dip leads to revenue decline

Taxable revenue from sports betting also declined in July. The combined total from retail and online wagering reached $29.4m, a drop of 8.7% from June’s $32.2m.

Of this total, $28.8m came from online betting, down 10.3%. The remaining $576,139 was generated by retail wagering, which was 274.3% higher than June.

Looking at individual operators, DraftKings remained the runaway online leader, posting $14.4m in revenue of..

August 16, 2023

iGB pens strategic partnership with Glücksspielwesen.de

iGB has entered into a strategic partnership with Glücksspielwesen.de, the gambling-focused arm of Germany’s monthly news title for public servants, Behörden Spiegel.

Under the agreement, iGB will leverage its audience to connect the gambling industry with Glücksspielwesen’s network of policy analysts, advisers and politicians.

iGB will work with Glücksspielwesen on joint activations including content initiatives such as webinars. The deal also covers event support, with the aim of bringing together gaming operators and suppliers with Germany’s political classes.

The partnership comes in the wake of Germany’s reregulation of gambling. Earlier this year, the country welcomed Gemeinsamen Glücksspielbehörde der Länder (GGL) as its new federal regulator to oversee the market.

Creating a forum for engagement

“Clarion Gaming, the parent company of iGB, is clearly the champion of information in the gaming and gambling industry,” Behörden Spiegel senior consultant Robert Hess said. “Glüc..