Betting News Archives - Page 42 of 118

September 14, 2023

Brazil lower house approves gambling bill

Brazil’s Chamber of Deputies has approved the government’s gambling bill, which regulates both sports betting and online casino.

The passage of the bill marks one of the final hurdles in the long journey to regulate online gambling in Brazil, the 10th largest economy in the world.

Bill 3,626/23 – which will replace the provisional measure (PM) president Luiz Inácio Lula da Silva issued in July – was amended several times from the original bill that the rapporteur, deputy Adolfo Viana, presented yesterday.

However, the bill still legalises online casino in addition to sports betting. Betting on fantasy sports will remain illegal due to a specific exemption from the new rules.

deputy adolfo viana presents amended bill

The bill will now head to the Federal Senate, which has 45 days to comment on the bill.

Foreign operators barred from licensing

Unlike the PM, the proposed law excludes foreign companies from offering regulated gambling. Only businesses incorporated under Brazilian ..

September 14, 2023

FA hands suspended ban to Forest’s Toffolo over betting breaches

The English Football Association (FA) has issued a suspended five-month ban to Nottingham Forest defender Harry Toffolo after he admitted to 375 breaches of its betting rules.

The ban is suspended to the end of the 2024-25 season. Toffolo is also being fined £20,956 (€24,374/$26,202) over the case.

Toffolo was charged in July for allegedly placing bets on football matches between 22 January 2014 and 18 March 2017.

FA Rule E8 says players, match officials or coaches must not bet, either directly or indirectly, on any matters related to football anywhere in the world. Toffolo had been given until 19 July to respond to the charges.

The 28-year-old represented Premier League club Forest in 2022. He was playing for several clubs on loan during the period highlighted by the FA.

Loaned out by Norwich City, he played for Swindon Town, Rotherham United, Peterborough United and Scunthorpe United. All these clubs play in the lower leagues, outside the top-tier Premier League.

Toffolo has on..

September 13, 2023

BetMGM ups the ante for the 2023-24 NFL season

One week on, the 2023-24 National Football League (NFL) season is in the books and Matt Prevost, BetMGM's chief revenue officer says BetMGM is looking to make it a big year.

During the off season, BetMGM made numerous changes to its sports betting experience, fuelled by the popularity of the NFL and a general aim to consistently improve its offering.

“The BetMGM app is taking a giant leap forward this season with new capabilities and streamlined user experience,” says Prevost. “One new feature is Same Game Parlay+.

“We have seen incredible activity and demand from our customers in same game parlays. So the ability to add new functionality to this popular feature and now offer the ability to combine several same game parlays for exponentially higher odds is something we expect fans to really take advantage of this season.”

BetMGM’s Survivor Pool

BetMGM is also bringing local flair to its sportsbook in legal markets. The sportsbook is offering “exclusive odds boosts for our tea..

September 13, 2023

Online casino included in imminent Brazil gambling regs

Brazil’s Chamber of Deputies is set to vote today on the latest set of sports betting regulations, which leaves in place the high tax regime put in place by the provisional measure (PM), but includes the legislation of online casino.

Bill No 3626/23 amends PM No 1,182 issued by Brazil president Luiz Inácio Lula da Silva in July. If passed, the law would keep in place the high tax regime brought in by the PM. This will maintain the original 18% tax on gross gambling revenue.

However, commentators previously pointed out that once additional mandatory contributions are accounted for the effective tax rate will run between 31% and 34%.

On top of this, the law will impose a 30% tax on prizes won over R$2,112 (£342/€398/$427).

the bill keeps in place the high tax regime imposed in lula’s provisional measure

The maintenance of the high tax rates no doubt will be a blow to Brazil’s gaming industry. The sector largely responded negatively to the original PM, with many criticising the tax r..

September 12, 2023

Indiana sports betting handle level year-on-year at $238m in August

Player spending on sports betting in Indiana remained level year-on-year in August at $238.1m (£191.0m/€222.2m) while revenue dipped slightly.

Monthly handle was in line with the $238.0m reported in August 2022 and 16.8% higher than $203.8m in Indiana in July this year.

Baseball again proved the most popular sport among consumers, attracting $66.8m in bets. Basketball bets totalled $19.8m and football $17.3m, while other sports drew $63.0m in wagers. A further $70.7m was spent on parlay bets.

Taxable adjusted gross revenue in August amounted to $23.5m. This was 7.5% behind the $25.4m posted last year but only marginally less than $23.3m in July 2023.

Blue Chip Casino and FanDuel dominance continues in Indiana

Blue Chip Casino and partner FanDuel continued to lead the market with $8.5m in revenue and a $71.1m handle. Ameristar Casino and DraftKings again had a higher handle of $95.6m but lagged behind in revenue terms with $7.7m.

Belterra Casino and partner FanDuel completed the..

September 12, 2023

Colorado sports betting handle dips below $300m in July

Player spending on sports betting in Colorado amounted to $281.1m (£224.7m/€261.8m) in July, the first time the state’s handle fell below $300.0m since August 2022.

Colorado’s betting handle was 8.9% higher than $258.4m in July 2022 but 9.5% behind $310.7m in June this year. July was also the fourth consecutive month of month-on-month betting handle decline for Colorado.

Online betting accounted for $279.4m of all wagers placed during the month. In contrast, just $1.7m was spent betting at retail sportsbooks in Colorado.

Baseball again drew the most bets, with players wagering a total of $104.9m during the month. Basketball was a distant second on $34.5m, then tennis at $33.9m. Players also spent $44.8m placing parlay bets in July.

Revenue rockets 171% month-on-month in Colorado

Gross gaming revenue from betting amounted to $25.0m in July. This was 20.2% ahead of $20.8m in July 2022 and 171.7% more than $9.2n in June this year.

Online revenue for the month in Colorado reached $2..

September 12, 2023

West Flagler mulls Supreme Court appeal after rehearing denied

After the DC Circuit Court of Appeals denied West Flagler's rehearing motion, the plaintiff will weigh up whether to appeal the matter to the Supreme Court.

In a one-sentence response to West Flagler’s petition the court denied the motion, in the latest twist for the two pari-mutuel betting operators seeking to challenge the Seminole Tribe of Florida’s compact with the State of Florida.

“Upon consideration of appellees’ petition for rehearing en banc, the response thereto, and the absence of a request by any member of the court for a vote, it is ORDERED that the petition be denied,” read the court’s statement.

West Flagler had been seeking an en banc rehearing, meaning the case would be heard by the entire bench of the court, as opposed to the panel of three that ruled in the original case, West Flagler Associates Ltd vs Haaland.

The outcome of the case saw the Seminoles permitted to offer mobile sports betting statewide by confirming the federal legality of the state’s “hu..

September 12, 2023

2023 NFL Odds Tracker powered by Kambi

September 11, 2023

Missouri sports betting fight could be reignited as new petitions filed

Lawmakers in Missouri are set to again consider plans to legalise sports betting after a series of new petitions were filed in the US state.

Several efforts to launch legal wagering in the state have fallen by the wayside in recent years. However new petitions suggest further proposals and bills could be on the way in Missouri.

Missouri’s secretary of state, John Ashcroft, is accepting comments on four petitions. All filed by Alixandra Cossette, an attorney at Stinson LLP, they relate to legalising sports betting in Missouri in some form.

Petitions propose legal sports betting in Missouri

The four petitions – 2024-135, 2024-136, 2024-137 and 2024-138 – all map out plans for online and land-based gambling.

Each of the petitions refers to the same set of proposed rules for sports betting.

Operators may only hold one licence, with retail permits costing up to $250,000 and online $500,000. Licensees will pay tax at a rate of 10% of gross gambling revenue from sports betting.

If the..

September 11, 2023

Iowa betting revenue down year-on-year in August despite handle jump

Sports wagering revenue in Iowa fell 6.2% year-on-year to $13.5m (£10.8m/€12.6m) during August despite an increase in player spending.

Revenue in Iowa for August was down from $14.4m in August 2022 but 27.4% ahead of $10.6m in July this year.

Breaking this down, the state attributes $11.6m of monthly revenue to online wagering. The remaining $1.9m came from retail betting in August.

In terms of spending, Iowa consumers wagered a total of $141.2m on sports during August. This was 15.2% more than $12.6m in August last year and 28.7% higher than $109.7m in July 2023.

Online betting wagers amounted to $131.9m, while retail spend reached $9.4m.

Diamond Jo Dubuque continues to lead the way in Iowa

As for individual operators, Diamond Jo in Dubuque and its FanDuel sportsbook remain the market leaders in Iowa. Revenue from the partnership in August hit $3.6m and handle $27.6m.

Wild Rose in Jefferson and DraftKings were second with $1.8m in revenue and a $20.1m handle. Diamond Jo in Wort..

September 11, 2023

IBIA pens betting integrity deal with Buenos Aires regulator

The International Betting Integrity Association (IBIA) has entered into a partnership with the Lotería de la Ciudad, the public entity that regulates sports betting in the Argentine capital of Buenos Aires.

Under the memorandum of understanding, IBIA will support Lotería de la Ciudad with sports betting integrity in its regulated market.

The two parties will exchange technical knowledge and information related to the integrity of sports and betting. This will be used to improve fraud control and prevention in the city’s market.

Buenos Aires opened its legal internet sports betting market in December 2021. The city also launched legal online gambling at the same time.

“IBIA is delighted to have reached an agreement with the Lotería de la Ciudad to work collaboratively to protect sports, consumers and the regulated betting market from match-fixing,” IBIA CEO Khalid Ali said.

“The association and its members will analyse the betting on their global markets. We will also work closely ..

September 11, 2023

NY online sports betting revenue slips to 13-month low in August

Online sports betting revenue in New York reached $98.5m (£78.6m/€91.7m) in August, the lowest monthly total since July 2022, although handle improved month-on-month and year-on-year.

Gross gaming revenue (GGR) edged down 1.1% from $99.6m in August 2022, The monthly total was also 6.3% lower than $105.1m in New York in July this year.

In terms of handle, this made for better reading. New York consumers wagered a total of $1.11bn online during August, a 27.6% increase from $872.2m in the same month last year.

The figure was also 15.7% higher than $962.1m in July of this year.

FanDuel pulls clear of DraftKings in New York

Looking at individual operators, Flutter Entertainment-owned FanDuel moved further clear of DraftKings in GGR terms. This came after DraftKings last month significantly narrowed the gap on its long-time rival.

FanDuel posted $41.1m in revenue for August off a handle of $384.6m. GGR at DraftKings hit $35.5m but the operator reported a higher handle than FanDuel at ..

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