Igaming dashboard powered by H2
iGB’s principal data partner H2 Gambling Capital provides headline metrics on the global igaming market, with forecasts now extended to 2028.
Last updated 03/10/2023
Mobile gaming dashboard powered by H2
iGB’s principal data partner H2 Gambling Capital provides headline metrics on the global mobile igaming market, with forecasts now extended to 2028.
Last updated 03/10/2023
Betway operator Super Group has withdrawn from the Indian market in response to a new online gambling tax rate that came into effect this month.
Operators are now having to pay a flat 28% turnover tax for online gambling, casino and horse race betting. The rate came into effect yesterday (1 October) after being announced by the Goods and Council Tax Council (GST) in India in July.
Super Group says the new rules mean the Indian market is no longer commercially viable for the business. As such, it has dropped all services with immediate effect.
“We are continuously evaluating evolving regulatory landscapes across the many markets we serve,” Super Group CEO Neal Menashe said. “Informed by years of operating our geographically diverse business, we remain confident about the long-term growth opportunities in front of us.”
Super Group adds that despite the exit, full-year financial projections are unchanged.
Industry body blasts higher rate
Tax will be applied to the full-face value o..
With the industry’s most tried-and-tested incentives being curtailed by regulators across Europe, many operators are looking at new ways to attract and retain players. Among the alternative options being considered is free fantasy football, writes Jacob Kalms, CEO and co-founder of 20Shots.
Bonuses have long been one of the most relied-upon tools in online gambling operators’ armoury, and with good reason.
There’s no denying that bonuses are a proven way to both attract and retain players. But across Europe, rightly or wrongly, there seems to be a growing view among regulators that they might be working a bit too well for gambling companies and that this is to the detriment of players.
We’ve already seen countries such as Spain, Sweden and Denmark bring in restrictions on what bonuses operators can offer. France indicated last year that it intends to follow suit. The publication of the UK government’s Gambling Act review white paper, and now the Gambling Commission’s ongoing consult..
Online gambling revenue in Portugal amounted to a record €205.9m (£179.1m/$217.5m) in the second quarter, driven by growth within the internet casino segment.
Revenue was comfortably higher than €145.2m in Q2 of 2022. The figure was also up 4.9% on the existing record of €196.4m set in Q1 this year.
Online games of chance accounted for €122.0m of all revenue in the quarter, up 51.6% on last year. This was a new record for the segment, according to regulator the Gaming Regulation and Inspection Service (SRIJ).
Players spent €3.24bn on internet casino games during Q1, another new record for Portugal. Slot machines drew 82.5% of all online casino spend, with French roulette at 7.6% and then blackjack on 5.4%.
Turning to sports betting, revenue in this sector reached €84.0m, up 29.8% on 2022 but a slight drop from Q1 this year.
Consumer spending on sports betting reached €357.6m during the quarter. This was 17.1% more than the same period last year but 19.0% lower than in Q2. It was a..
Flutter Entertainment has acquired an initial 51% stake in Serbian omnichannel sports betting and gaming operator for €141.0m (£122.6m/$149.0m) in cash.
The deal, Flutter says, provides the group with access to the regulated Serbian market and supports its ongoing expansion plans, including within the wider Balkans region.
The agreement also states that Flutter has the opportunity to acquire the remaining 49% in MaxBet in 2029.
Ranked among the leading operators in Serbia with an approximate 20% online share, MaxBet employs more than 2,400 staff. In the 12 months to June 2023, it posted €145.0m in regulated revenue and €32.0m worth of adjusted EBITDA.
The transaction remains subject to customary regulatory clearances but is due to close in the first quarter of 2024.
“I am excited to announce the addition of MaxBet to the Flutter portfolio,” Flutter chief executive Peter Jackson said. “This acquisition continues our progress against the strategic priorities we have set for our inte..
MGM Resorts International has signed Hollywood actor Chris Rock to support the launch of its BetMGM brand in the UK market.
As an ambassador, Rock will feature in a range of marketing campaigns to promote the UK roll-out of BetMGM.
The first such campaign is now live, with Rock sharing details of various special offers to market the launch. These include bonuses and prices boosts, as well as information about exclusive content available from BetMGM.
BetMGM has also rolled out a responsible gambling advert specific to the UK market. Both campaigns are active across live sport, TV, out of home, digital, radio and social.
“We are incredibly excited to launch BetMGM in the UK and give customers something new,” BetMGM UK director Sam Behar said. “This campaign leverages the heritage of MGM Resorts’ best-in-class Las Vegas entertainment to deliver a unique proposition to the UK market.
“Alongside standout promotions and our A-list ambassador Chris Rock, this campaign clearly demonstra..
Safer gambling measures, slower growth in key markets and sporting results hindered Entain's Q3 performance, although the group remains on track to hit EBITDA guidance.
In a trading update, Entain says online net gaming revenue (NGR) has been mixed across the group in recent weeks. While it still expects to achieve growth during Q3, Entain says that, on aggregate, this will be softer than anticipated.
Third quarter online NGR growth is now expected to rise by a high single-digit percent. However, Entain also says it will likely decline by a high single digit percent on a pro forma basis.
Reasons for this, Entain says, include adverse sports results impacting sports margins during September and slower growth than expected in Australia and Italy. It also noted the impact of safer gambling measures across the group and ongoing regulatory headwinds persisting longer than expected, particularly in the UK.
However, Entain also noted drivers of growth within its online business. The..
Combined online sports betting and igaming revenue in Michigan increased 13.2% year-on-year to $175.4m (£141.5m/€164.2m) in August, with this total almost level month-on-month.
Gross internet gaming and sports betting receipts from commercial and tribal operators is ahead of $154.9m in August 2022. It is also only slightly below $176.1m worth of online gambling revenue in Michigan in July this year.
Online casino gaming gross receipts hit $152.2m, up 16.3% on last year but behind July’s $153.9m total.
Read the full story on iGB North America
The GB Gambling Commission has published an open letter to Racing Post readers in an attempt to “clear up misunderstandings” about the ongoing consultation regarding proposed financial risk checks.
The regulator accused the racing and sports betting publication of providing readers with “imbalanced stories”. Additionally, the Commission said that the newspaper had “refused” to publish a letter from the authority responding to the coverage.
Financial risk checks – also known as affordability checks – have been one of the most contentious topics included in the Gambling Act review white paper since its publication in April.
In response to the letter, Racing Post editor Tom Kerr released a statement on X, formerly known as Twitter.
“We told the GC we were unwilling to publish a letter if it misrepresented disagreements over our coverage as errors of fact,” he wrote.
“That is precisely what this letter does. It simply repeats contentious assertions from the white paper and consultatio..
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..
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..