Online sports betting Archives

February 2, 2024

Colorado smashes monthly betting handle as $716.4m wagered in December

Players in Colorado wagered a record $716.4m (£565.8m/€663.3m) on sports in December, beating the previous monthly high by more than $100.0m.

The December handle beat the existing record of $608.5m in November 2023 by 17.7%. It was also 38.3% higher than the $518.1m bet in Colorado in December of the previous year.

Some $712.0m of all wagers placed in December were via the internet. Retail venues took just $4.5m in bets in comparison.

Revenue down year-on-year

As for gross gaming revenue, this amounted to $40.5m for December, 41.6% more than the $28.6m generated in November.

colorado’s december gross gaming revenue was 41.6% higher than the previous month

However, despite taking far more bets than in December 2022, this was not reflected in year-on-year revenue comparison. Revenue was actually 0.1% less than the $40.9m in the previous year.

Online wagering accounted for almost all monthly revenue, with retail’s contribution at just $63,546.

As the National Football League seas..

February 2, 2024

Georgia senate passes amended online sports betting bill

The Georgia senate has voted through a bill that would legalise online sports betting in the Peach State, but with an added requirement for a constitutional amendment approved by voters.

Senate Bill 386 was filed last week, seeking to regulate online sports wagering in Georgia. It has moved through the senate quickly and was approved yesterday by a vote of 35-15.

However, this was not before senators added the amendment, which requires the support of 38 senators for the bill to pass. The amendment allows proceeds of betting to be directed to other purposes including needs-based scholarships.

Following senate approval, the sports betting bill now progresses to the Georgia house of representatives for further discussion.

What is in the Georgia sports betting bill?

Key language in SB386 includes that the bill would cover online sports wagering. Players would need to be at least 21 to bet and physically located inside Georgia.

The Georgia Lottery Corporation would assume responsibili..

February 1, 2024

Mississippi House to consider another online sports betting bill

The Mississippi House of Representatives has passed a new bill that will propose legalising online sports wagering in the Magnolia State.

House Bill 774 would extend the current Mississippi sports betting market to also allow for online wagering. At present, players can only wager at retail facilities at land-based casinos, under laws passed in 2018.

Backed by eight state representatives as sponsors, HB774 entered into the House earlier this week. The bill was approved by a vote of 98-14 and will now move to the Senate.

Key language in the bill includes all 26 land-based casinos in Mississippi being permitted to launch online sports betting. Casinos will only be able to partner with one licensed platform to offer wagering; this would be in addition to any existing retail sportsbook.

The bill did not reference an application fee for licences. However, it did state the renewal fee for a manufacturer’s licence would be $1,000 and a seller’s or distributor’s licence $500.

Tiered tax ..

February 1, 2024

Mississippi House clears online sports betting bill

The Mississippi House of Representatives has passed a new bill that will propose legalising online sports wagering in the Magnolia State.

Backed by eight state representatives as sponsors, HB774 entered into the House earlier this week. The bill was approved by a vote of 98-14 and will now move to the Senate.

The bill did not reference an application fee for licences. However, it did state the renewal fee for a manufacturer’s licence would be $1,000 and a seller’s or distributor’s licence $500.

Tiered tax ..

January 31, 2024

Bet365 and BlueBet expand US presence with new launches

Bet365 has launched online sports betting in Indiana while BlueBet has also extended its reach in the US by rolling out its ClutchBet brand in Louisiana.

Indiana becomes the eighth US market for Bet365 while BlueBet and ClutchBet are active in three states across the US.

Bet365 launches in Indiana via a partnership with the French Lick Resort land-based casino. Players can register for a new Bet365 account and begin betting on a wide range of sports and competitions.

The operator is also active across Kentucky, Louisiana, Virginia, Ohio, New Jersey, Iowa and Colorado.

“At Bet365 we don’t do ordinary and, as the home of the country’s first professional baseball game, ‘The Greatest Spectacle in Racing’ and a rich basketball history, neither does Indiana,” a Bet365 spokesperson said.

“New and eligible sports fans in the Hoosier State, renowned for their passion and loyalty, can enjoy the Bet365 experience featuring market leading offerings like amazing Bet Boosts, the fastest in-g..

January 31, 2024

NFL: Super Bowl viewers will see three sports betting ads during game

Fans watching Super Bowl LVIII on 11 February will see a total of three sports betting ads during the game, said David Highhill, the NFL's general manager for sports betting.

As reported by the Associated Press, Highhill confirmed the move during a press conference yesterday (30 January).

Super Bowl LVIII will see the Kansas City Chiefs take on the San Francisco 49ers on 11 February. The game will take place at the Allegiant Stadium in Las Vegas.

Highhill said that one sports betting ad will be shown just before kickoff, with two others shown during the game. He added that the NFL had already implemented restrictions on the number of sports betting ads broadcast during matches.

less than 5% of all in-game ads will be sports betting

“We’ve put some policies in place to limit the amount of advertising for sports betting that happens in our live games,” Highhill said. “It’s roughly one ad per quarter. All told, less than 5% of all in-game ads are sports betting ads.”

Also at ..

January 31, 2024

Rhode Island posts further year-on-year sports betting declines in December

Sports betting handle and revenue in Rhode Island fell year-on-year again in December, although revenue in the Ocean State was higher month-on-month.

Player spending in December amounted to $47.9m (£37.8m/€44.1m). This was 19.1% less than December 2022 and 0.6% behind November 2023’s total in Rhode Island.

rhode island player spend was down 19.1% year-on-year

Some $39.1m of the total spent in December was wagered online. The other $8.8m was bet at retail sportsbooks, with $5.6m spent at Twin River and $3.3m Tiverton Casino.

Revenue recovers in December

As for revenue, this reached $4.1m during December. This was 33.9% less than $6.2m in the same month in 2022 but 20.6% ahead of November’s $3.4m.

Online betting generated $3.6m in revenue and retail wagering $591,275. Twin River posted $267,201 in revenue and Tiverton casino $324,074, despite the latter’s smaller handle.

Players won a total of $21.9m during the month including $15.8m from online betting and $8.2m retail.

H1 han..

January 30, 2024

Caesars agrees tribal deal to launch online sports betting in North Carolina

Caesars Entertainment has announced it will launch mobile sports betting in North Carolina after expanding its relationship with the Eastern Band of Cherokee Indians.

The operator is set to go live when North Carolina launches its online sports betting market on 11 March. Ahead of the launch, the Caesars Sportsbook app will start accepting sign-ups and deposits from 1 March.

On 24 January, the North Carolina State Lottery Commission approved the launch date of online sports betting. The market will be live for those aged 21 and over in time for March Madness. Charlotte in North Carolina is set to host some of the tournament’s early-round games.

Caesars already has two land-based locations with the tribe, with Harrah’s Cherokee Casino Resort in Cherokee and Harrah’s Cherokee Valley River Casino & Hotel in Murphy. As part of the expanded deal, Caesars will now hold exclusive rights to mobile sports wagering at those two casinos, as well as on Eastern Band of Cherokee tribal lands in w..

January 30, 2024

Genius Sports announces “first-of-its-kind” Edge automated pricing tool

Genius Sports has announced an automated pricing tool called Edge, which it believes is the first of its kind in the market.

Genius Sports’ tool will allow sportsbooks to maximise profits over “unlimited” sports events and bets. Factoring in real-time liability, Edge can recalculate odds at a fixture and market-type level for maximum profitability, including bet-builder products.

Genius Sports product director Thomas Holland revealed early adopter partners of Edge have enjoyed an 18% average rise in margins. The tool is available now through Genius Trading Services or as a standalone solution.

“The explosion of betting content means sportsbooks offer hundreds of thousands of events every year,” Holland said in the announcement. “This makes it almost impossible for trading teams to truly optimise pricing and ensure they are squeezing maximum margin out of every bet, especially where turnover is highest.

“We’re excited to roll this ground-breaking solution out across our sportsbook p..

January 26, 2024

Online sports betting bills filed in Mississippi

A fresh bid to legalise online sports betting in Mississippi has been launched, with two new bills introduced this week.

Sports betting was legalised in Mississippi in 2018, following the repeal of the 1992 Professional and Amateur Sports Protection Act (PASPA). However, the only online sports betting currently available is through geofenced sportsbooks on land-based casino properties.

Bill HB271, filed by Rep Cedric Burnett, and Bill HB635, introduced by Rep Jay McKnight, are both bidding to change that, allowing bettors to wager on sports through their mobile devices in the state regardless of whether they are in a casino.

This latest attempt to introduce online sports betting in the state is the sixth, with House Bill 606 signed into law last year. The bill authorised a Mississippi sports betting task force to “undertake a comprehensive analysis” of sports betting in the state.

The bill was initially far more expansive, aiming to allow all of the state’s land-based casinos to pa..

January 26, 2024

Arizona sets new sports betting handle record in November

Players in Arizona spent $713.6m (£560.9m/€657.2m), a new record for the Grand Canyon State, but revenue was down year-on-year.

Handle for November was 3.3% ahead of the existing Arizona record of $690.0m in March 2022. It was also 15.7% higher than $616.9m in November 2022 and 10.1% more than $648.2m in October 2023.

Some $705.7m was wagered online and $6.1m at retail sportsbooks. A further $1.8m was bet with limited event wagering operators in Arizona.

arizona’s november handle was 10.1% hgher than the $648.2m recorded in october 2023

Licensees paid out $671.3m in winnings to players while free bets and promotional credits in November amounted to $20.5m. This left $20.3m in adjusted gross revenue for the month.

Revenue was 45.9% lower than $37.5m in November 2022 and 38.5% behind $33.0m in October. Online betting revenue hit $19.9m, retail revenue $338,476 and limited event wagering $96,986.

As for tax, this reached $2.0m in November. Almost all of this came from online wagerin..

January 25, 2024

Data is the new oil

Simon Trim, strategic consultant at 10star explores how optimising data can improve business for sportsbooks.

Nearly 20 years ago, the mathematician Clive Humby coined the phrase “data is the new oil”. For the industry and economy, data was to become the new wealth creator in the same way that oil has enabled new technologies and products since the mid-19th century.

For the sportsbook industry, this comment was well ahead of its time. In 2006, the in-play offering that is ubiquitously driven today by real-time game state data largely didn’t exist. Most operators at the time offered little betting action after the start of an event, even on football. Some didn’t offer in-play at all.

Fast forward to 2024 and you could be forgiven for thinking that sports betting operators – and more pertinently the supply chain that feeds them – are fully utilising the data that is available to them.

Simon Trim says sports betting operators aren’t fully utilising data

The perception exists that th..

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