Betting News Archives

April 28, 2023

PointsBet confirms North American sales talks

Australian gaming operator PointsBet confirmed that the business is “currently in discussion with multiple parties” regarding the sale of its North American business.

The company also said that it has terminated previously reported talks to sell its Australian business to the News Corp-backed gaming venture behind the Betr brand. Despite this, PointsBet said it remains in discussion with “other third parties” who have expressed interest in acquiring the business.

“Consistent with commentary previously provided to our investors and the market more generally, PointsBet continues to engage in discussions regarding strategic transactions that offer the potential to add value for our shareholders,” said the company.

pointsbet also confirmed that it had terminated the talks to sell its Australian business to a news Corp-backed venture

Losses mount despite revenue growth

For the three-month period ending 31 March, the business recorded gross gaming revenue of AU$106.6m (£56.4m/€63.9m/US..

April 27, 2023

What’s covered in the Gambling Act white paper?

After years of delays and speculation, the most transformative review of gambling in the United Kingdom in 18 years has finally been published.

The publication of the Gambling Act review white paper signifies a landmark upheaval of how gambling will be regulated in the UK going forward, in an age of smartphones and 24/7 internet access.

To say the review has been much anticipated would be an understatement. Industry trade bodies, operator groups and industry critics alike have waited eagerly for the white paper’s publication.

It has been an eventful two years and four months since the UK government announced the review – one that has encompassed the resignations and appointments of two prime ministers, the declaration of a cost of living crisis and Russia’s invasion of Ukraine.

While the white paper document outlines much of what the industry expected, it contains a few unexpected additions – including the addition of a gambling ombudsman, to give customers one point of contact for..

April 26, 2023

UK Tote Group brings in new senior leadership

UK and Irish pool operator UK Tote Group has hired two new CCOs to support its growth strategy and expand its international and domestic networks.

Jon Knapman joins Tote Group as chief commercial officer of the group’s international B2B business. With its recent expansion into US, South African and Hong Kong markets, the international business has seen substantial growth.

Dave Hammond becomes the chief commercial officer (UK) of the operator’s domestic operation. Hammond brings 25 years of experience in the industry from numerous senior operational roles in companies such as Inspired Gaming, Paddy Power, Betfair and DraftKings.

“As we continue to execute our growth strategy for the business and, following three years of significant expansion within international markets with many more opportunities on the horizon, we now have two extremely strong leaders focussed on driving the commercial performance of our international and UK businesses,” UK Tote Group chief executive Alex Fros..

April 25, 2023

Yahoo acquires sports betting app Wagr

Yahoo has announced the acquisition of peer-to-peer sports betting app Wagr, bolstering its fantasy and gaming offerings.

While the terms of the acquisition were not disclosed, Yahoo did make clear that, as part of the deal, Wagr will be fully integrated into Yahoo Sports.

The betting platform has previously attracted a number of high-level investments, including support from Seven Seven Six – spearheaded by Alexis Ohanian, Reddit co-founder – the Kraft Group and the owners of the New England Patriots.

Wagr was also the first social sports betting operator to receive a licence in the United States.

Jim Lanzone, CEO of Yahoo, said that the acquisition represents the future of Yahoo’s gaming products.

“The acquisition of Wagr is an exciting step in the development of the next generation of Yahoo Sports’ gaming portfolio,” said Lanzone.

“Wagr stands out for their innovative emphasis on community and social engagement in sports gaming, which aligns perfectly with the Yahoo award-wi..

April 25, 2023

IMG Arena nets new deal with NWSL

Sports data and technology supplier IMG Arena has entered into a global data, streaming and integrity partnership with the National Women’s Soccer League (NWSL) in the US.

Under the multi-year deal, IMG Arena will capture and deliver data from over 161 NWSL and NWSL Challenge Cup games per season for its global network of more than 460 sportsbook operators, as well as distribute live streaming for betting.

IMG Arena will also serve as the league’s official integrity partner, providing the NWSL with full monitoring services to help safeguard competitions and tournaments.

Read the full story on iGB North America

April 25, 2023

Spain sanctions 20 operators over illegal gambling in H2

Spanish regulator Dirección General de Ordenación del Juego (DGOJ) sanctioned 20 online operators over illegal gambling activities in the second half of 2022, imposing more than €35.0m (£31.0m/$38.6m) in fines in the process.

According to the ministry of consumer affairs, 20 operators were contacted about “serious or very serious infractions” across online betting and gambling during the six-month period, in relation to breaches of Regulación del Juego (LRJ) gambling law.

Of the operators contacted, seven were flagged for “very serious” infractions and banned from offering online gambling in the country for a period of two years. Each operator was also fined €5.0m, with these penalties totalling €35.0m in H2.

The DGOJ also detected “serious” violations across the other 13 operators, issuing financial penalties that amounted to €560,000.

Nine of these violations were related to a failure to comply with rules on advertising and marketing gambling in Spain, with each operator fined ..

April 24, 2023

DC sports betting handle and revenue up in March

Sports wagering handle and revenue in Washington DC both increased year-on-year during March, while the market also experienced month-on-month growth.

Consumer spending on betting for the month amounted to $18.1m, which was 19.1% higher than $15.2m in March 2022 and also 43.7% up from $12.6m in February of this year.

In terms of gross gaming revenue from sports wagering, this reached $2.3m, an increase of 64.3% from $1.4m in March last year and 91.7% ahead of $1.2m in February.

Read the full story on iGB North America

April 24, 2023

NFL suspends five players over betting violations

The National Football League (NFL) has issued suspensions to five players after ruling they breached the league’s gambling policy.

Detroit Lions receivers Jameson Williams, Quintez Cephus, Stanley Berryhill and safety CJ Moore were all suspended, as was Washington Commanders defensive end Shaka Toney.

Cephus, Moore and Toney were all suspended indefinitely for betting on games during the 2022 season and will not be able to apply for reinstatement until after the 2023 season.

Read the full story on iGB North America

April 24, 2023

Waterhouse VC: Are you feeling lucky?

In his latest column for iGB, Tom Waterhouse of Waterhouse VC discusses the place of syndicate betting and artificial intelligence in the industry.

Business partners David Walsh and Zeljko Ranogajec are professional bettors, whose syndicate bets about $10bn per annum across horse racing, sports betting and lotteries. Walsh spent $75m to re-open Hobart’s Museum of Old and New Art (MONA) in 2011.

In our December newsletter, we discussed the niche but highly lucrative field of professional betting. Betting successfully is incredibly challenging, with other market participants always trying to take your edge. This dynamic means that betting strategies must be adjusted all the time.

The Pharos wing at Australia’s MONA museum

Rebating their competition away

The large betting syndicates receive generous rebates from pari-mutuel or tote betting for providing liquidity. This gives them a significant edge, which varies depending on pool or jurisdiction, over other participants.

To receive ..

April 21, 2023

Mississippi bounces back in March as handle and revenue climb

Sports betting revenue and handle in Mississippi both increased month-on-month in March, while the US state also reported a year-on-year rise in revenue despite a dip in spending.

Handle in the month amounted to $46.7m, which was 2.5% lower than $47.9m in the same month in 2022 but 17.3% ahead of $39.8m in February of this year.

Turning to revenue, the state posted $5.0m for the month, up 22.0% year-on-year and also 61.3% higher than $3.1m in February.

Read the full story on iGB North America

April 21, 2023

Police raid German sports betting operator

Police in Germany have carried out raids and arrested six people as part of an investigation into an unnamed sports betting operator.

The German sports betting raids took place yesterday (20 April) and followed two and a half years of undercover investigations related to the operator, with allegations including suspicion of forming a criminal organisation, offering illegal gambling and withholding wages in reference to undeclared work.

Raids were carried out by police from the German regions of North Rhine-Westphalia, Bremen, Berlin, Saxony and Bavaria, as well as authorities in Malta and Croatia. Raids took place at premises across all these regions, although the focus of the effort was Cologne.

In a joint statement issued by the Prosecution of Organised Crimes (ZeOS NRW) and the State Criminal Police Office for North Rhine-Westphalia, investigating authorities executed over 100 search warrants and six arrest warrants during the raids.

More than 100 private apartments, betting sho..

April 20, 2023

New Hampshire sets sports betting handle record in March

Consumers in New Hampshire spent a record $103.4m betting on sports in March, beating the previous monthly high set back in January 2022.

The monthly handle was 3.9% ahead of the existing record of $99.5m, as well as 31.2% up from $78.8m in March 2022 and 18.9% ahead of the $87.0m spent in February this year.

Players wagered $93.4m online as well as $10.0m at retail sportsbooks across the state.

Read the full story on iGB North America

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