Betting News Archives

September 19, 2023

French competition authority clears FDJ for ZeTurf acquisition

France’s national competition regulator, l'Autorité de la Concurrence, has cleared the country’s national lottery operator Française des Jeux (FDJ) to acquire online horse racing betting site ZeTurf Group.

However, FDJ will have to change several aspects of its operations to address the regulator’s concerns about risks to competition.

In particular, FDJ has committed to separating its monopoly and competitive gaming operations. It also has said it will allow any French licensed operator to access the common pool of horse racing bets it manages.

L’Autorité outlines competition concerns

Despite both FDJ and ZeTurf offering online sports betting, their low combined market share meant this alone did not concern the regulator.

Instead, l’Autorité said problems could come from FDJ’s monopoly on lottery games and retail sports betting.

It argued that, because of its exclusive rights to offer these segments, the new combined business may have been tempted to restrict the competition..

September 19, 2023

OpenBet enters newly regulated Brazilian sports betting market with Play7.Bet

Sportsbook technology provider OpenBet is to expand into the newly regulated Brazilian sports betting market through a partnership with Play7.Bet.

Under the deal, OpenBet will provide technology to power Play7.Bet’s retail and online sports betting offering in Brazil.

This arrangement includes the OpenBet betting engine, managed trading services and player account management (PAM). Tech will be made available across land-based and digital wagering.

In addition, Play7.Bet will benefit from OpenBet’s partnership with Neccton. This covers responsible gambling, anti-money laundering and fraud detection within the gambling sector.

“From the very first days of the UK market through Greece, Australia and the US, it has always been clear that investing in and partnering with competent local companies with coherent and compelling plans, is a strong foundation for success in new markets,” OpenBet chief executive Jordan Levin said.

“For this reason, we are pleased and honoured to have been s..

September 18, 2023

West Flagler files motion to stay ahead of Supreme Court appeal

West Flagler Associates filed a motion in the US Court of Appeals for the DC Circuit to keep Hard Rock Bet shut down ahead of its appeal to the Supreme Court.

The filing by the two Florida pari-mutuel betting operators is the latest twist in the fraught legal battle questioning whether the Seminole Tribe are permitted to offer statewide online sports betting through their compact with the state.

West Flagler lost its case against secretary of the interior Debra Haaland in June, clearing the compact from federal objections. Following this loss, it appealed for a rehearing, which the court rejected.

In the motion West Flagler confirmed they would be seeking to appeal the case to the Supreme Court, confirming previous speculation.

If the court opts to deny the motion, then the Seminoles could launch online wagering through its Hard Rock Bet platform as early as tomorrow. Despite this, the tribe may prefer to wait and see how the case will proceed in the Supreme Court to remove legal a..

September 18, 2023

Dazn Bet launches in Germany

Sports betting operator Dazn Bet has launched in Germany, after it was licensed to operate in the country in August.

Dazn Bet was formed in April 2022 through Dazn’s partnership with Pragmatic Solutions. The operator was added to the sports betting section of Germany’s white list last month.

The white list was set up after Germany’s Fourth State Treaty on Gambling (GlüNeuRStv) was enacted in July 2021. The GlüNeuRStv also brought about Germany’s regulator, Gemeinsamen Glücksspielbehörde der Länder (GGL).

“Dazn Bet is an offer to Dazn users and people interested in sports betting to immerse themselves in a new kind of sports experience,” said Gabriel Vollmann, Dazn Bet managing director, DACH.

“The close cooperation with the German authorities and the brand partnership with Dazn reflect our commitment to be a safe provider in a regulated market where the player’s enjoyment is at the centre.”

Alongside sports betting services, Dazn Bet will also provide safer gambling materials to..

September 18, 2023

Massachusetts sports betting revenue falls despite handle rise in August

Sports wagering handle in Massachusetts reached $314.9m (£254.4m/€295.3m) in August, a month-on-month increase of 6.8%, although revenue in the state declined.

The figure was higher than $294.9m in July, which was the lowest total since Massachusetts launched legal betting in April.

Some $307.2m was spent wagering online, an increase of 6.6% from July. Retail betting was also 13.2% higher at $7.7m for August.

Handle rise fails to halt revenue drop

However, while handle was higher month-on-month, the same could not be said for revenue from sports betting. Total revenue in August hit $22.7m, down 22.8% from $29.4m in July.

Of this total, $22.6m came from online betting, a decline of 21.5% from July. Just $157,782 was generated in retail wagering revenue, down 72.6%.

DraftKings leads in Massachusetts

DraftKings remains the runaway leader, posting $10.8m from $161.9m in bets during August.

FanDuel again placed second with $7.4m off a $79.4m handle, then BetMGM on revenue of $2.4m f..

September 18, 2023

EGBA urges Norway to drop online gambling monopoly

The European Gaming and Betting Association (EGBA) has urged lawmakers in Norway to switch from its current monopoly system to a licensing model for online gambling.

Norway remains one of the last European countries with a state gambling monopoly. Lottery Norsk Tipping has the rights to online casino gaming and sports betting, while Norsk Rikstoto covers horse racing.

However, EGBA says Norway should follow the example of other European markets such as neighbouring Sweden and Finland and make the move to a licensing system. EGBA secretary-general Maarten Haijer said this would help combat issues such as consumers gambling with unlicensed sites.

“The belief that a monopoly model is essential for safer gambling does not align with the current European trend,” Haijer said. “Nearly every other European country has implemented some form of licensing system, successfully prioritising player safety within a regulatory framework that provides clear rules for companies to follow.

“In Norw..

September 18, 2023

DraftKings claims NJ sports betting top spot in August

DraftKings and partner Resorts World led the New Jersey sports wagering market in August, knocking Meadowlands off top spot for the first time since January 2019.

The partnership heralded $56.9m (£45.9m/€53.3m) in August. This was ahead of Meadowlands and partners FanDuel, PointsBet and SuperBook on $25.7m. PointsBet will soon rebrand as Fanatics after the latter completed the acquisition of the PointsBet US business in eight states, including New Jersey.

Total sports betting revenue for the month amounted to $96.0m, representing a 47.1% rise on last year. This was also the sector with the highest percentage of growth in the state in August.

In addition, sports wagering handle in New Jersey hiked 32.7% year-on-year from $546.8m to $725.8m. Of this total, $697.1m was bet online and $28.8m at retail sportsbooks across New Jersey.

Sports betting drives overall market growth in New Jersey

Total gambling revenue in New Jersey hiked 12.9% year-on-year to $531.6m in August. The monthly t..

September 15, 2023

Delaware igaming spend down again in August

Consumer spending on igaming in Delaware fell for the third consecutive month in August, while the state reported year-on-year declines across online gambling and sports betting.

Delaware players wagered $32.4m on igaming during the month. This was 12.0% lower than $36.8m in August 2022 and 11.0% down from $36.4m in July. The figure was also the lowest monthly total since $31.9m was bet in May last year.

Video lottery drew $23.3m of all bets in August and table games $9.2m.

Players won $32.4m, meaning revenue from igaming reached $1.1m. This was 15.4% lower than August 2022 and 8.3% behind July’s total this year.

Revenue from video lottery games amounted to $952,437 and table games $122,089. The remaining $32,607 came from poker rake and fees.

Delaware Park remained the igaming market leader with $488,308 in revenue from $14.1m in total wagers. Bally’s Dover followed with $319,237 off $10.2m, then Harrington Raceway on $299,588 from $8.1m.

RSI cliches igaming contract

This comes..

September 15, 2023

Arrests made in Spain as match-fixing network dismantled

The Spanish National Police has made a series of arrests in connection with the dismantling of an organised crime group suspected of fixing sports events and using technology to place bets ahead of bookmakers.

Some 23 arrests have been made through a joint effort with the Spanish Tax Agency, Europol and Interpol. This includes one of the group’s leaders subject of an Interpol Red Notice for persons wanted internationally for match-fixing activities.

The joint operation began in 2020 when Spanish officers identified suspicious online sports bets placed on international table tennis events. Further investigation uncovered a criminal network of Romanian and Bulgarian origin.

According to Interpol, the group fixed matches outside of Spain by corrupting athletes. Once outcomes were agreed, crime group members in Spain placed online bets on what Interpol described as a “massive” scale.

Criminals get ahead of bookmakers

Officers also discovered a criminal process whereby the group acces..

September 14, 2023

Genius shares down 10% as Apax sells $121m in stock

A subsidiary of one of Genius Sports' major shareholders and former owner, Apax Partners LLP, will sell 20,000,000 shares in the business.

The underwriter of the sell-off, Goldman Sachs & Co, will have the option of purchasing an additional 3,000,000 shares worth $18,120,000. The option will end after a 30-day period.

The stock to be sold off is worth – as of close of trading on 13 September – $120.8m (£97.1m/€113.1m).

The total shares on the table represent just over 10% of all of Genius’ 216,627,899 shares.

Following the announcement of the stock sell-off, Genius’ share price has fallen 10.2% to $5.4 per share since trading opened. The supplier will not receive any of the proceeds from the sale.

Former owner opts to sell stock

Apax is the provider’s former owner, having purchased the company from Three Hills Capital Partners in July 2018.

Funds advised by Apax kept hold of the business for over two years prior to Genius going public on the New York Stock Exchange via an ..

September 14, 2023

Spajic tapped as Betfred USA CEO

Kresimir Spajic will lead Betfred USA as its new chief executive.

Spajic will oversee the sportsbook’s strategy and operations across 10 US states. Betfred is licensed to operate in Nevada, Pennsylvania, Colorado, Louisiana, Arizona, Iowa, Washington, Virginia, Ohio and Maryland.

Read the full article on iGB North America

September 14, 2023

Sweden gambling regulator nets funding boost

Sweden’s gambling regulator, Spelinspektionen, is set for a funding boost to ensure it meets Europe-wide commitments to counter match-fixing.

The government plans to increase Spelinspektionen’s (SGA) budget over the next three years. It is to receive SEK10.8m ($970K/€900K/£780K) in increased funding in 2024. It will then receive SEK15.6m in 2025 and SEK18.6m in 2026.

The grant will ensure Sweden meets the requirements of the Macolin Convention of the Council of Europe regarding the manipulation of results in sports, the government said.

The increased budget will also assist the body in restricting illegal gambling, with plans unveiled to work more closely with the Finansinspektionen financial supervisory authority.

The government intends to propose an increase in Finansinspektionen’s allocation by SEK4.5m starting in 2024. This cash will strengthen the authority’s cooperation with SGA in order to block payments to illegal gambling operations.

The proposals are based on an agreeme..

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