Betting News Archives - Page 2 of 118

April 11, 2024

New Jersey senator formally introduces bill to hike online tax to 30%

A New Jersey senator, John McKeon, has formally introduced his new bill to increase tax for online gambling and sports betting to 30%.

Currently, online gambling and sports betting are taxed at 15% and 13% of gross gaming revenue respectively.

Senate Bill 3064 was formally introduced on 8 April, after being filed last week. The bill was referred to the Senate State Government, Wagering, Tourism & Historic Preservation Committee.

If enacted the bill would amend Section 17 of P.L.2013, c.27 (C.5:12-95.19), which specifies the online gambling tax amount. Section 7 of P.L.2018, c.33 (C.5:12A-16), which addresses sports wagering tax, would also be changed.

Should lawmakers approve the proposal, it would take effect on next 1 January that occurs after the date of enactment, per the bill text.

New Jersey gambling tax hike: How does it compare?

A 30% rate would put a significant burden on New Jersey’s 18 mobile sportsbooks, raising taxes to among the highest in the US. New York’s 51% spo..

April 11, 2024

Kajuru to lead parliamentary inquiry on Brazil sports betting

Senator Jorge Kajuru has been chosen as the president of a Parliamentary Inquiry Commission (CPI) on Sports Betting to investigate match-fixing accusations in Brazil sport.

Kajuru, a senator for the Brazilian state of Goiás, will be supported by Senator Eduardo Girão, who will serve as vice-president. Romário, a former footballer who won the World Cup with Brazil in 1994 before becoming a senator, will be rapporteur of the CPI.

The CPI will meet weekly and investigate complaints made by players, managers and betting companies. If it finds that games have been manipulated, the CPI will request the court system to ban from football the person responsible.

The CPI was first introduced in December. It will consist of 11 sitting senators, as well as seven substitutes.

“I’m sure that this CPI has some objectives and we will achieve them,” Romário said. “We know the problems that our football has experienced.

“Here are people who definitely want to set the record straight. They want to o..

April 11, 2024

Jdigital labels Spain ad restrictions annulments “very positive” but urges caution

The Spanish Digital Gaming Association (Jdigital) says the Supreme Court’s decision to partially uphold its appeal against Royal Decree 958/2020 is positive for the industry, although it is also calling for further dialogue with the regulator.

On Wednesday (10 March), the supreme court partially upheld a Jdigital appeal. The ruling annulled several measures included in the Royal Decree 958/2020, which entered into force in November 2020. The supreme court deemed a number of articles in the Royal Decree to lack the necessary legal basis.

Among the overturned measures was article 13, which relates to targeted advertising towards new customers. Operators will again be able to market to players who have had an account for less than 30 days. They will also be able to advertise in establishments with public accessibility and designated for the sale of lottery games.

The supreme court’s ruling also means that celebrities can appear in advertising again. Additionally, the ban on gambling ad..

April 11, 2024

Caesars launches mobile sports betting at Harrah’s casino in Mississippi

Caesars Entertainment has announced the launch of its mobile sports betting product at Harrah’s Gulf Coast Hotel & Casino in Mississippi.

Players aged 21 or over can download the Caesars Sportsbook Mississippi app and place bets across a range of sports. Wagering via the app is only permitted while users are physically present at Harrah’s Gulf Coast.

The mobile launch will complement the on-site Caesars Sportsbook facility at the casino. The retail sports betting location has been taking bets at Harrah’s Gulf Coast since 2018.

Users betting via mobile will also have access to the Caesars Rewards loyalty programme, which is integrated into the app. Players earn points for each bet placed, with these redeemable for Caesars experiences and bonus cash in the app.

“The launch of our Caesars Sportsbook mobile app at Harrah’s Gulf Coast is a game-changer for sports fans who visit the world-class destination,” Caesars Digital president Eric Hession said.

“Enhancing the fan experience rem..

April 11, 2024

BetMakers acquires Racelab Global assets

BetMakers Technology Group has completed the acquisition of assets from Racelab Global, an international supplier of racing wagering products and technologies.

Under the acquisition agreement, BetMakers will pay a total consideration of AU$1.5m (£779,316/€910,620/US$977,501) to take ownership of the Racelab assets. However, there is a clawback clause of up to $500,000, dependent on key customer obligations within 30 days of closing.

BetMakers said that the deal represents a “highly strategic acquisition” for the business. It adds race form, preview and statistics technology to its ecosystem, as well as proprietary fixed-odds pricing technology and associated algorithms.

Racelab assets include ProForm informatics and enhanced content and Odds Engine pricing and trading technology.

Other benefits include potential to further expand services in the harness and greyhound form and preview racing sectors. In addition, BetMakers said the deal provides an ongoing partnership with global r..

April 11, 2024

BlueBet agrees to acquire Betr wagering business

BlueBet Holdings has entered a binding asset sale agreement to acquire the Betr wagering business and create an enlarged organisation in Australia with increased scale and market share.

Announced today (11 April), the deal will see BlueBet issue approximately 265.4 million fully paid shares to Betr shareholders. This equates to around 56.9% of BlueBet’s current shares.

A potential deal has been in the works for some time. Yesterday (10 April), BlueBet added fuel to the fire by requesting a trading halt on the Australian Stock Exchange (ASX) amid talk of an acquisition.

The deal remains subject to a series of closing conditions, including the support of BlueBet shareholders. BlueBet has “unanimously” recommended shareholders vote in favour of the merger, saying it will create material value.

If these conditions are met, BlueBet says it expects to complete the merger by 1 July.

BlueBet chair hails “transformational” moment

“This is a transformational moment for BlueBet,” says Mich..

April 10, 2024

Maryland sports handle jumps by 21.3% in March to $536.7m

Maryland celebrated one of its highest months on record, with a 21.3% increase in handle – taking the state to $4.07bn for the fiscal year to date

Maryland has reported a 21.3% increase in sports betting handle for March, reaching $536.7m (£427.7m/€499.6m) for the month.

Sports betting handle for Maryland in March was also up 39% year-on-year from the $386m in bets taken in the same month last year.

Sports betting: the numbers

Maryland handle for February was 18.8% behind January’s total of $545m despite the Super Bowl early in the month. However, that drop could also be attributed to the shorter month of February and the NBA All-Star break that ran between 16-21 February.

Mobile accounted for $522.1m in handle, 97.3% of the monthly total. Retail was responsible for $14.6m of the figure.

March’s handle total took Maryland to $4.07bn for the fiscal year to date. This was up 104.8% on the figure of $1.99bn from the same period of last year.

It was a good month for bettors in Mary..

April 10, 2024

Brazil betting regulation to be ready by end of July

Plans to implement fixed-odds betting in Brazil will take place in four stages, ending in July 2024, representing the first step towards a regulatory framework.

Brazil’s ministry of finance published the new ordinance in Brazil’s Official Gazette of the Union. It outlines how the regulations approved in Bill 3,626 will be implemented in the coming months, with an aim to be completely implemented by the end of July 2024.

The four-stage schedule is organised by which regulatory aspects take priority

The order established the Regulatory Policy of the Prizes and Betting Secretariat (SPA), a ministry of finance body which will structure and publish the incoming regulation as per the guidelines.

The body will aim to provide clarity on the legal aspects of the regulation and prioritise the most pressing measures for enactment.

“This measure’s main objective is to systematically structure the regulatory agenda for fixed-odd betting in the country and represents a considerable advance in t..

April 10, 2024

Spain Supreme Court overturns gambling ad restrictions

Spain’s Supreme Court has partially upheld a Spanish Digital Gaming Association (Jdigital) appeal against Royal Decree 958/2020, with restrictions such as bans on celebrity advertising annulled.

The Spanish Royal Decree 958/2020 entered into force in November 2020. The regulations looked to reduce minors’ exposure to gambling advertising in Spain by banning aspects such as sponsorship deals with operators.

The measures faced backlash from the industry, with the Spanish Digital Gaming Association (Jdigital) launching an appeal against the Royal Decree. This appeal was rejected in November 2023 by the Spanish Constitutional Court.

In reviewing the law, however, the Supreme Court has now annulled several of the measures outlined in the Royal Decree, partially upholding the appeal.

As a result, multiple measures have been overturned, including article 13, which relates to targeting advertising towards new customers.

This means that Spanish operators will be allowed to market to playe..

April 10, 2024

France regulator ANJ notes “significant progress” in problem gambling prevention

L'Autorité Nationale des Jeux (ANJ), the gambling regulator in France, has noted “significant progress” in reducing problem gambling in its review of operators’ action plans.

Since a 2019 ordinance, all operators in France must submit an annual plan to prevent “excessive” and underage gambling. The ANJ then reviews those action plans. The aim is to increase dialogue between operators and the regulator on the issue.

The ANJ observed that the market has made palpable progress on preventing excessive gambling. Actions have been taken to raise awareness, such as messages to players and dashboards.

Protection standards for identification and support for problem gamblers has increased. The number of at-risk players identified and then supported has risen. The majority of operators implementing improved support measures and excluding players who have been identified as most vulnerable to commercial rewards has also gone up.

ANJ: Problem gambling still too high in France

fdj submitte..

April 10, 2024

Record handle fails to halt Maine sports betting revenue decline in March

Sports betting revenue in Maine declined for the third consecutive month in March, despite players wagering a record $47.6m (£37.5m/€43.8m).

Monthly handle in March was 40.8% higher than the $33.8m spent in February. It was also the highest total since Maine opened its legal market in November last year.

However, adjusted gross receipts from sports wagering totalled $2.7m, down 41.9% from $4.3m in February. Incidentally, this was also the lowest monthly amount since Maine launched regulated betting.

Adjusted gross receipts is the remaining total after subtracting voided and cancelled bets, player winnings and federal excise tax from handle. Maine’s current record for this figure is $4.6m, set in November.

Tax revenue for the state in March amounted to $270,607. Players in Maine won a total of $44.6m.

DraftKings the clear leader in Maine

Maine currently has just two licensed sports wagering operators – DraftKings and Caesars. Both offer sports betting in the state via tribal partn..

April 10, 2024

Operator-branded platforms won’t have a home in legal California wagering

In Anaheim on Tuesday (9 April) a diverse group of tribal leaders said during an Indian Gaming Association panel that they feel an “urgency” but not a rush to get sports betting legalised in the state.

But don’t expect platforms like BetMGM, Caesars Sportsbook, DraftKings, ESPN BET, Fanatics Sportsbook or FanDuel to have operator-branded platforms in the state.

“I can tell you what they won’t be,” California Nations Indian Gaming Association (CNIGA) chairman James Siva said. “They won’t be operators in the state. If they want to be partners like the slot companies we work with, then we can do that. I think they are starting to come around.

“And I think urgency is the right word… but right now, while it’s urgent, we won’t be hurried and we will make decisions based on real data. We are going to make sure we stay united in purpose. Keep that urgency in the back of your mind, because we need to do it, but we need to do it right.”

FanDuel apology tour continues

Earlier in the day, Fa..

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