Online casino Archives

December 7, 2023

Greenblatt: 2024 the year BetMGM unlocks Las Vegas

Speaking at Morgan Stanley's Global Consumer and Retail Conference, BetMGM's CEO says 2024 will be the year they unlock America's gaming capital.

BetMGM will “unlock” Las Vegas in 2024, according to CEO Adam Greenblatt.

Speaking at the Morgan Stanley Global Consumer and Retail Conference on Wednesday (6 December), Greenblatt says BetMGM will look to capitalise on the influx of sports events in Las Vegas.

Sports and Las Vegas licence to be key

The recent Formula One race in the city attracted 300,000 fans and was a record-breaking weekend for BetMGM. The operator took three times the number of bets than any other F1 race in its history.

“[20]24 is the year we unlock Las Vegas,” Greenblatt stated. “Why that’s important, is because recruiting a player in Vegas costs 27% of the cost of acquiring that player in the open market. They’re also more than 130% as valuable.

“The role of Vegas in player acquisition and retention is really important. Those players we acquire ..

December 6, 2023

Australian Senate approves credit card online gambling ban legislation

The Australia Senate has approved legislation to prohibit the use of credit cards for online gambling in the country, with a near-blanket ban set to come into effect within six months.

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

Australia’s House of Representatives passed the bill last month, allowing it to progress to the Senate. Today (6 December), the Senate also approved the legislation, clearing the way for it to pass into law.

The country already has a ban in place on gambling with credit cards at land-based venues. This means the bill effectively places a blanket ban on credit card gambling across Australia.

What is in the credit card bill?

Aside from a ban on credit products, the bill features several other related measures. These include fines of up to AU$234,750 (£122,475/€143,003/US$154,282)..

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..

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Tag: Online casino