Betting News Archives

August 16, 2023

Online growth drives US gaming revenue to record $16.1bn

US commercial gambling revenue reached a Q2 record of $16.07bn, the 10th consecutive quarter of growth, according to the American Gaming Association (AGA).

This represented an 8.1% increase from the total US gaming revenue recorded in Q2 2022 and is the second-highest grossing quarter in industry history, with only Q1 this year reporting a higher figure.

Overall, the US gambling industry generated $32.71bn in commercial gaming revenue for the six-month period, up 11.9% from last year.

AGA estimated the results led to $7.28bn in gaming tax revenue for state and local governments, a 12.9% increase from 2022. The trade body highlighted the industry is on track to contribute the highest total in tax revenue it has done in its history.

“While commercial gaming is on track for an unprecedented third consecutive year of record revenue, the lasting impact we’re making on our communities through this record growth is even more impressive,” said AGA president and CEO Bill Miller.

Online gam..

August 16, 2023

Starlizard flags 79 suspicious football matches in H1

Starlizard Integrity Services (SIS), the specialist integrity arm of sports betting consultancy Starlizard, identified 79 suspicious football matches worldwide during the first half of 2023.

The matches flagged represent 0.48% of the total 16,336 games analysed by SIS in the six months to 30 June. The figure was slightly lower than the 84 matches identified in the first half of 2022.

Matches are categorised as suspicious when they are found to have suspect betting patterns associated with them. This, SIS said, may be a sign of match-fixing.

Of the games reported, 40 took place within the Uefa confederation region, which covers all of Europe. A further 11 were flagged in Conmebol’s South American region.

Some 24 different countries had at least one alert in a domestic men’s competition. SIS also noted that leagues below the top division accounted for 61% of all alerts raised in H1.

A total of 11 games were “international” matches, which are classed as not falling within a specific ..

August 15, 2023

Detroit casino revenue remains level at $107.2m in July

Detroit’s three commercial casinos posted $107.2m in revenue for the month of July, level with last year and slightly up month on month.

July’s total was on par with the $107.2m in the same month last year. The figure was 6.5% higher than $101.5m in June this year.

Of this amount, $106.7m came from slots and table games, up by 0.7% year on year. Sports betting generated $485,763 in qualified adjusted gross receipts, (QAGR), a drop of 62.0%, while handle reached $8.0m.

MGM remained the leader in the Michigan city with 47% market share. Casino revenue at MGM reached $50.0m and betting QAGR $121,017.

Read the full story on iGB North America

August 15, 2023

Iowa betting revenue up despite another handle drop in July

Player spending on sports betting in Iowa fell again in July, although the state was able to post a month-on-month increase in revenue.

Handle for the month amounted to $109.7m. This was 0.7% up from $108.6m in July 2022 but 5.4% lower than $115.6m in June this year. It also represented the fourth consecutive month of spending decline.

Online spend stood at $101.3m for the month, with retail betting at $8.4m.

In terms of revenue, July’s total hit $10.6m. This was 5.4% lower than $11.2m last year but a 49.3% increase from $7.1m in June 2023.

Read the full story on iGB North America

August 14, 2023

Indiana sports betting revenue up despite handle dip in July

Sports wagering revenue increased in Indiana in July despite the state reporting a decline in handle.

Consumers in Indiana spent $203.8m betting on sports in July, a 1.4% drop from $206.6m in July 2022. This was also 9.1% behind $224.1m in June this year.

Baseball remained the sport of choice among Indiana bettors, drawing $69.4m in total bets. A further $12.6m was wagered on basketball, while $56.2m was spent in parlay bets and $62.9m betting on other sports.

Taxable adjusted gross revenue reached $23.3m, a 11.5% increase from last year. This was also 19.5% ahead of the $19.5m generated in June 2023.

Read the full story on iGB North America

August 14, 2023

World Series of Politics takes on Florida sports betting in bumper 20th episode

It’s the 20th episode of the World Series of Politics: Brandt Iden, Brendan Bussmann and Robin Harrison are joined by two legal experts to pick through the Florida sports betting case in this special episode.

Florida’s sports betting market came to an abrupt halt just weeks after launch when a legal challenge blocked the Seminole Tribe of Florida’s updated compact with the state.

After two years of legal action the DC Circuit Court reversed the decision, paving the way for the Seminoles and Hard Rock Digital to relaunch. That may come as soon as this month.

Does Florida sports betting face further challenges?

But how deep does the ruling go? The case clears the way for a relaunch, but steers clear of ruling on whether the compact should have been permitted without a constitutional amendment. That issue goes back to the Florida courts to decide.

does the seminoles’ sports betting agreement need to be ratified by a state referendum?

What this ultimately means, and whether it gr..

August 11, 2023

Dearth of igaming legislation prompts major WynnBet roll-back

Wynn Resorts blames a dearth of igaming legislation and marketing costs for a major reduction in its online brand WynnBet’s US footprint.

Wynn will cease operations in Arizona, Colorado, Indiana, Louisiana, New Jersey, Tennessee, Virginia and West Virgina as soon as possible.

Operations in New York and Michigan remain under review. Only Nevada and Massachusetts operations are guaranteed to continue – states where it operates land-based properties.

“Better uses of capital deployment”

There are better uses of capital deployment for Wynn shareholders than the high levels of marketing spend required for online sports betting, chief financial officer Julie Cameron-Doe explained.

“While we believe in the long-term prospects of igaming, the dearth of igaming legislation and the presence of numerous other investment opportunities available to us around the globe have led us to the decision to curtail our capital investment in WynnBet to focus primarily on those states where we maintain..

August 11, 2023

Four more charged in Iowa State gambling investigation

Prosecutors in Story County, Iowa have charged four more Iowa State football players for tampering with records.

The charges come as part of the Iowa Division of Criminal Investigation’s (DCI) sports integrity probe.

Among those charged was Iowa State running back Jirehl Brock. He is accused of placing four bets on games involving his own team. Prosecutors allege that he played in two of these games.

The first round of charges were issued on 1 August. At that time, seven individuals were charged.

In May, the University of Iowa reported 26 athletes across five sports were suspected of betting on sports. Betting on sports is against National Collegiate Athletics Association (NCAA) rules.

Use of third party accounts to conceal betting

The four have all been charged with using a third party sports betting account to make bets. This practice would have concealed that the now-charged individuals were placing the bets.

Over the course of his wagering activity, Brock placed 1,327 mobi..

August 11, 2023

Risky business: The perils of setting Premier League odds

Simon Trim, launch consultant to 10star lifts the lid on the headaches facing bookmakers as a new Premier League season starts and what they can do to separate the signals from all the noise.

If, as a famous saying goes, the thoughts of a young man turn to love in springtime, then at this point in the summer – at the start of the football season – it’s all about what bookmakers are going to lay.

For trading teams, there are a multitude of factors to take into account – the significant one being transfers.

New signings can generate a lot of excitement among fans in the same way that losing a key player can be a big blow. Tottenham have drifted by around 7% to finish in the EPL top four next season, largely on the back of Harry Kane heading to Bayern Munich.

Simon Trim, launch consultant to 10star

While the transfer spending firepower of both the Saudi Arabia and MLS leagues and the subsequent means of offloading expensive unwanted players is good news for some Premier League clubs,..