Online casino Archives - Page 5 of 20

November 27, 2023

Brazil’s upcoming vote: Everything you need to know

Brazil's Senate plenary could vote to legalise sports betting and online casino on Wednesday (29 November). Ahead of the vote, we bring you all you need to know about the journey so far.

Before we delve into the complex legal history of sports betting in Brazil, let’s start off with last week’s key step.

Last Tuesday (21 November), the industry was waiting eagerly for Brazil’s Economic Affairs Committee (CAE) to vote on whether to greenlight sports betting and igaming through Bill 3,626/2023. This was delayed by one day on the request of senators, according to Senado Noticias.

The bill will now head to the Senate Plenary this Wednesday (29 November)

The CAE’s eventual approval on Wednesday 22 November gave the thumbs-up for the bill to move to the Senate plenary. This session will now take place this Wednesday (29 November). If the plenary vote goes in the bill’s favour, sports betting and igaming will officially be legal in Brazil.

Importantly, the outcome at the CAE confirm..

November 22, 2023

Michigan online sports betting handle hits record $533m in October

Michigan consumers spent a record $533.0m (£424.9m/€488.2m) betting on sports online in October, marking the first time monthly internet bets in the Great Lakes State exceeded $500.0m.

Gross internet gaming and sports betting receipts from commercial and tribal operators in Michigan reached $205.3m during October. This was 7.9% ahead of $190.2m last year but 2.4% down from $210.4m in September 2023.

Online casino was again the main source of all internet gambling revenue in Michigan. Gross receipts in the igaming segment reached $160.3m, an increase of 13.7% from $141.0m in the previous year.

In contrast, sports betting gross receipts declined 8.5% to $45.0m. This was despite sports betting handle climbing to a new monthly high in Michigan.

Adjusted gross gaming receipts exceed $167m in Michigan

After accounting for promotional deductions, adjusted gross receipts (AGR) from igaming and sports betting was $167.7m. This was an increase of 5.8% from $158.5m posted in October of last..

November 21, 2023

Delaware: sports betting grows but igaming declines in October

The Delaware Lottery reported another increase in sports betting handle during October, but igaming wagers in the state fell to a 19-month low.

Delaware consumers spent $10.7m (£8.5m/€9.8m) betting on sports in October. This was up 4.9% from $10.2m in the same month of last year and 40.8% more than $7.6m in September 2023.

As for sports betting revenue, this hit $2.6m in October. The Lottery said this was marginally higher than $2.5m last year and 173.1% ahead of $958,547 in September this year.

Delaware Park was again the sports betting market leader, posting $368,904 in revenue off a $2.5m handle.

Bally’s Dover placed second with revenue of $172,532 from $1.2m in bets during October. The Harrington Raceway followed with $79,437 in revenue and a $554,958 handle.

An additional $2.0m in revenue came from $6.4m in bets placed with retailers in Delaware.

Delaware igaming spend slips to lowest monthly total since February 2022

While the Delaware sports betting market continued to r..

November 20, 2023

Pennsylvania sports betting handle hits record $829m in October

Pennsylvania reported a monthly record $829.0m (£664.4m/€759.3m) sports betting handle in October, while the state also noted year-on-year revenue growth across several segments.

Total gambling revenue in Pennsylvania hit $483.0m in October. This was 7.3% higher than $450.2m in October 2022 and 1.4% up from $576.3m in September this year.

Retail slots were responsible for almost 40.0% of all gambling revenue during the month at $192.5m, down 3.3% from last year. Land-based table games revenue edged up 2.0% year-on-year to $81.5m.

Record spending pushes sports betting revenue up

The headline figure for Pennsylvania in October was sports betting handle, which climbed 4.0% from the previous monthly high of $797.1m to reach a new record.

This helped push sports betting revenue up 18.8% year-on-year to $48.2m. Of this total, $43.1m came from online wagering and the remaining $5.1m retail betting.

Hollywood Casino at the Meadows and Barstool edged back into top sport in the market wi..

November 20, 2023

New Jersey gambling revenue up 9.3% year-on-year in October

Gambling revenue in New Jersey increased 9.3% year-on-year in October, driven by growth across the state’s igaming and sports betting market.

Total market revenue in New Jersey reached $487.1m (£390.9m/€446.4m) in October. This was ahead of $445.7m last year but 6.6% behind $521.5m in September this year.

Physical slots, which have long drawn the most gambling revenue in New Jersey, posted a year-on-year decline. Revenue from retail slots dropped 1.9% to $163.0m in October.

However, land-based table games revenue for the month was 19.7% higher at $65.1m. This meant total revenue from the retail casino sector increased 3.4% to $228.1m.

New Jersey igaming markets continues to expand

In contrast to the retail slots decline, the situation was very different for their online cousins in New Jersey. Revenue from authorised online games, including internet slots, increased by 13.4% to $164.4m in October.

Online peer-to-peer poker games revenue also increased by 6.2% to $2.4m. As such, ..

November 14, 2023

Australia lower house passes credit card gambling ban bill

The Australia House of Representatives, the lower house of the country’s parliament, has passed a bill that would introduce a blanket ban on using credit cards for online gambling.

The Interactive Gambling Amendment (Credit and Other Measures) Bill 2023 was submitted in September. It seeks to ban credit cards and other credit-related products, as well as digital currencies.

Introducing the bill has led to significant debate in parliament, with several amendments being filed to alter the bill. However, these were ultimately unsuccessful and the bill passed today (14 November) with support from both major parties in Australia.

The bill will now move forward to the Senate, the upper house of parliament in Australia, for further debate.

Breaking down the credit card bill

Aside from the ban on credit products, the bill includes a host of other measures that would come into effect.

These include heavy fines for operators that do not enforce the ban. Licensees in Australia could face..

November 10, 2023

Lithuania revenue up to €161m in first nine months after online growth

Gross gambling revenue (GGR) in Lithuania increased by 15.2% year-on-year to €161.0m (£140.8m/$172.1m) during the nine months to 30 September, driven by growth within the remote gambling sector.

Revenue was comfortably higher than the $139.8m reported in the same period last year. The Gaming Control Authority, which regulates gambling in Lithuania, recorded growth across both the online and land-based markets.

Remote gambling led the way with €107.0m in GGR, up 24.4% from €86.0m last year. Land-based gambling GGR also edged up 0.4% to €54.0m for the period.

Lithuania online slots revenue exceeds €72m

Online slot machines generated the most revenue during the nine-month period. GGR from Category A online slots reached $69.5m, up 33.7%, while Category B slots GGR increased 18.2% to €2.6m.

Total GGR from online slot machines for the reporting period amounted to €72.1m.

As for other online revenue, sports betting revenue fell 1.1% to €26.1m but table games GGR climbed 63.0% to €8.8m…

November 6, 2023

India government orders blocking of 22 betting websites

Indian authorities have issued blocking orders against 22 betting apps and websites it says have been operating illegally.

Full details of those operators blocked by ministry of electronics and information technology (MeitY) were not disclosed. However, MeitY confirms that both Mahadev Book and Reddyannaprestopro face blocking orders.

MeitY says it is taking action following investigations by the enforcement directorate (ED) against illegal betting app syndicate. The ED also carried out several raids on Mahadev Book in Chhattisgarh, with these revealing unlawful operations.

The investigations have led to the arrest of several individuals. These include Bhim Singh Yadav, who currently works for the Chhattisgarh police. Yadav was arrested under Section 19 of the Prevention of Money Laundering Act (PMLA).

Shri Rajeev Chandrasekhar, minister of state for skill development and entrepreneurship as well as electronics and information technology in India, says the local Chhattisgarh govern..

November 1, 2023

How Adam Greenblatt is sharpening BetMGM’s competitive edge

Adam Greenblatt set BetMGM on a path to profitability and the business will be self-sustaining in the second half of 2023. How will he make sure the operator stays ahead in the US sports betting market as new competitors emerge?

July’s update on BetMGM’s first half performance confirmed the operator was on the path to profitability outlined by CEO Adam Greenblatt in June.

The business will be self-sustaining in the second half of the year. There will be no additional equity investment from joint venture partners MGM Resorts and Entain, beyond the $150m committed for 2023.

BetMGM CEO Greenblatt believes a new phase of competition could be imminent in the US

Greenblatt believes that BetMGM could operate as a separate business and stand on its own two feet if necessary.

“It could be a permanent state, absolutely,” he says of BetMGM as a self-sustaining entity. “[But] I think whether or not that is indeed a permanent state depends on how we want to ramp up and how quickly we want t..

October 19, 2023

Netherlands’ NGR up 85% in 2022

The Netherlands' licensed gaming market generated €3.4bn (£2.95bn/$3.59bn) in net gaming revenue (NGR) in 2022, according to a report from regulator Kansspelautoriteit (KSA).

The report is based on 2022 only, as it was the first full calendar year for the Netherlands’ online gambling market.

The country’s market officially opened in October 2021, following the passage and ratification of the much-delayed Remote Gambling Act (KOA). This month marks two years since the market became live. NGR comprises of deposits minus prizes paid out.

NGR for 2022 was up by 85.0% from €2.0bn in 2021. KSA noted that this was due to an increase in both online gambling and land-based play, particularly as Covid-19 pandemic restrictions lifted. Land-based venues were closed in the Netherlands until 25 January 2022, with restrictions still applying until 25 February 2022.

Spending on gambling and advertising

Online casino was one of the Netherlands’ smaller markets in 2022, behind lotteries and l..

October 19, 2023

Record igaming revenue drives Pennsylvania market growth in September

Gambling revenue in Pennsylvania increased 6.2% year-on-year in September to $476.3m, partly due to record igaming revenue during the month.

Total revenue in September was ahead of $448.5m in the same month last year. The figure was also 4.2% ahead of the $457.2m generated in Pennsylvania in August this year.

Retail slots remain some way out in front in terms of revenue share generating $199.9m, up 0.7% on last year. A further $75.2m came from physical table games, although this was 7.8% lower than September 2022.

The igaming segment reported the most significant growth in September. Revenue jumped 41.5% to $159.5m, an all-time high for the state, surpassing the previous record of $148.2m set in March.

Online slots revenue hiked 47.3% to $114.7m and internet table games revenue increased 31.7% to $42.4m. However, revenue from online poker slipped 10.4% to $2.4m.

Hollywood Casino at Penn National remains the clear market leader with $64.9m in igaming revenue in September. Valley Fo..

October 17, 2023

New Jersey gambling revenue up 7.5% in September despite land-based dip

Gambling revenue in New Jersey increased by 7.5% year-on-year, to $521.5m in September, despite a fall in land-based casino revenue.

Total revenue was comfortably higher than $485.0m in September 2022. However, the figure was slightly lower than the $531.6m generated in New Jersey in August this year.

Land-based casino gambling remains the main source of revenue in New Jersey despite the yearly decline. Revenue for this segment hit $246.5m, down 2.1% from $251.7m last year.

Some $182.7m of all land-based gambling revenue came from slot machine games, a drop of 2.0%. Table games generated 63.8%, down 2.2% from September last year.

Igaming revenue tops $164m in September

Turning to igaming, this area of the market experienced the most growth in September. For the month, revenue amounted to $163.8m, an increase of 21.1% from last year’s $135.2m.

Online slots drew $161.4m in revenue, up 21.4% from the previous year. The other $2.4m was generated from peer-to-peer poker games in New J..

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Tag: Online casino