Online sports betting Archives

February 14, 2024

Maine sports betting receipts hit new high despite handle dip in January

Adjusted gross receipts from sports betting in Maine reached a new monthly high of $5.5m (£4.4m/€5.1m) in January despite a dip in player spending.

Total handle for January in Maine was $38.1m. This was 13.4% behind $44.0m in December but 1.3% ahead of $37.6m in November, the first month of legal betting.

As for adjusted gross receipts, the January total was 25.0% ahead of $4.4m in December. It also beat the $4.6m generated in the opening month by 19.6%.

Sports betting adjusted gross receipts account for voided and cancelled bets, player winnings and a 0.25% federal excise tax.

In terms of total other tax due to the state, this amounted to $546,099 in January. Maine has a tax on sports betting of 10.0% of adjusted gross receipts.

DraftKings ahead in Maine two-horse race

bill ld 585 was signed in may 2022 to legalise sports betting in maine

Maine currently only has two licensed operators that offer sports betting: DraftKings and Caesars. Both have tribal partnerships in place,..

February 13, 2024

Flutter pens inaugural external B2B sportsbook deal with PMU

Flutter Entertainment has agreed a deal to provide a multi-channel B2B sportsbook platform to France’s Pari Mutuel Urbain (PMU).

The agreement sees PMU become the first external brand outside the Flutter group to use the B2B sportsbook platform. It extends a partnership between the parties that launched in 2010.

PMU gains access to customer products and associated operational services via the Flutter platform. This is in addition to the continued provision of event management, fixed odds pricing and risk management services.

Flutter said PMU will also benefit from continued investment into the platform. This, it adds, allows for seamless sports betting product rollouts.

“In sports betting, we were looking to simplify our architecture through a turnkey solution and to concentrate our efforts on marketing and CRM,” PMU ecommerce director Emmanuel Vacher said. “Flutter’s offering meets this need. Alongside them, we are now engaged in a multi-year partnership.

“Our common objective ..

February 13, 2024

Nevada breaks state record for Super Bowl bets with $185.6m wagered

The Nevada Gaming Control Board (NGCB) has revealed $185.6m (£146.6m/€172.3m) was wagered on Sunday’s Super Bowl in the state's 182 sportsbooks, breaking the previous record.

The game, played between the San Francisco 49ers and eventual champions Kansas City Chiefs at the Allegiant Stadium in Las Vegas, exceeded the $179.8m wagered on the 2022 Super Bowl.

However, a 3.7% hold percentage meant sportsbooks’ total win was just $6.8m. Since 2015, only three editions of the Super Bowl have generated a lower sportsbook win than the 2024 game.

In the NGCB press release, chairman Kirk Hendrick said: “The Nevada Gaming Control Board congratulates and thanks all the stakeholders involved for successfully delivering such a spectacular event from the state of Nevada.”

AGA expecting Super Bowl bets to reach record numbers

the american gaming assocation was predicting all-time high numbers for super bowl bets

The NGCB’s numbers should not come as much of a surprise. The American Gaming As..

February 13, 2024

Maryland’s January sports betting revenue up 23.4% year-on-year

Maryland has reported a 23.4% year-on-year increase in January for sports wagering, accumulating $545m (£431.9m/€506.2m) in revenue for the month.

Maryland’s January figures far exceeded the same month last year, when it recorded $441.5m in revenue. Taxable win for the month was $55m, with the contribution to the state standing at $8.2m, an all-time high.

Hold in January was 14.7%, 1.2% higher than the same month last year, while prizes paid to players amounted to $465m, again a 21.8% increase year-on-year.

Maryland has now accumulated $3.1 trillion in sports betting handle for its 2024 financial year, a 144.9% hike on 2023.

Maryland lottery and gaming director John Martin attributed the strong revenue figures to the NFL playoffs, stating the sporting calendar was the “driving force” behind the state’s sports wagering success.

FanDuel out in front

fanduel led the way in maryland for january in both online and retail

Live! Casino Hotel and FanDuel recorded a handle of $244.6m in ..

February 13, 2024

WynnBet ceases operations in Massachusetts

The Wynn Interactive division of Wynn Resorts has ceased operations of its WynnBet online gambling brand in the state of Massachusetts.

Players in Massachusetts have 30 days from yesterday (12 February) to withdraw any funds from their WynnBet account.

Wynn Resorts, however, will continue to operate retail sports betting in the state. Players can continue to wager at the land-based sportsbook and kiosks inside its Encore Boston Harbor casino.

The halting of operations in Massachusetts comes after Wynn Resorts last August set out plans to scale back the brand across the US. Along with Massachusetts, WynnBet will also exit Colorado, Indiana, Louisiana, New Jersey, Tennessee, Virginia and West Virginia.

WYNNBET IS IS ALSO SET TO EXIT Colorado, Indiana, Louisiana, New Jersey, Tennessee, Virginia and West Virginia

The brand remains active in Nevada, New York and Michigan. However, Wynn chief financial officer Julie Cameron-Doe last week said its operations in New York and Michigan rem..

February 13, 2024

Indiana sets monthly revenue record of $53.5m for January

Indiana has recorded a total taxable adjusted gross revenue (AGR) of $53.5m (£42.4m/€49.7m) for January, beating the previous record of $50.6m set in December.

Indiana reported a total sports wagering handle of $480.3m for January, a 4.5% drop from the previous month’s total of $503.1m.

Of the handle, $269.9m was spent on parlays, with American football and basketball receiving $57.5m and $113.1m in bets respectively.

DraftKings and FanDuel battling it out in Indiana

draftkings and fanduel have been battling it out in indiana

Ameristar Casino and its DraftKings sportsbook was the leader for handle with $181.4m, accumulating a total AGR of $18.7m. FanDuel, meanwhile, came away with $23.3m in AGR despite taking less in bets than DraftKings with $160.1m.

Penn Entertainment-operated Hollywood Lawrenceburg took $39.4m in handle while Belterra Casino, another FanDuel partner, placed fourth with $36.6m.

Caesars, meanwhile, was fifth for handle with $32.1m at Harrah’s Hoosier Park, fin..

February 12, 2024

US sports betting: What’s your edge?

US sports betting is entering a new phase as the quality of the competition ramps up. How can operators carve out a niche in this market? Cole Rush investigates.

Welcome, one and all, to 2024, the year PASPA’s downfall turns six. While it’s an important milestone, PASPA seems more and more like a distant image in our collective rear-view mirrors.

The proverbial talk of the town is, instead, the next era of sports betting. We’ve got long-time leaders, new competitors and rebranded standbys making a play for pole position.

Behind the scenes, suppliers and third-party services are moulding the next phase of US sportsbooks. One question emerges: what will US sports betting’s next evolution look like?

Experts spanning various parts of the sports betting world – operators, suppliers and more – chimed in with their outlook for a new era in US sports betting.

Spotlight on the new and novel

Circa Sports CEO Derek Stevens kicks things off, emphasising the relative youth of US sports bett..

February 12, 2024

Barstool scores sports betting partnership with DraftKings

Barstool Sports has announced details of a new a multi-year sports betting partnership with DraftKings.

Under the agreement, DraftKings is now the official sports betting partner of Barstool. David Portnoy, the founder of Barstool, confirmed the news in a blog post shortly after Super Bowl LVIII ended last night (11 February).

The deal marks the second time that the two parties will be working together. DraftKings and Barstool were previously partnered on a marketing collaboration 10 years ago.

“I’m proud to announce Barstool has signed a multi-year monster deal with DraftKings,” Portnoy said. “We’re back to our roots. DraftKings is once again the exclusive sports betting partner of Barstool Sports. The more things change the more they stay the same.”

DraftKings is yet to comment on the announcement.

Barstool back with Portnoy

The deal comes just a few months after Portnoy took back the Barstool brand from Penn Entertainment. Penn purchased the brand in 2020 and was running spo..

February 12, 2024

More than 14,500 bets per second recorded ahead of Super Bowl

GeoComply has reported a 22.3% year-on-year increase in geolocation checks during Super Bowl LVIII weekend.

Last night (11 February), Kansas City Chiefs beat the San Francisco 49ers 25-22 to land their second consecutive Super Bowl. The game took place at Nevada’s Allegiant Stadium, with GeoComply carrying out checks on betting activity over the whole weekend.

Checks took place in US states where sports betting is legal, as well as the unincorporated territory of Puerto Rico. This does not include Florida, where the Seminole tribe launched online betting with Hard Rock Bet in November last year.

GeoComply says the increase in geolocation checks is positive for legal betting in the US. It says the rise underscores a shift towards a regulated, taxed and safe betting environment.

Record pre-game activity

Other key data from GeoComply includes record pre-game activity. In the minutes before kick-off, 14.75 thousand transactions per second were reported, the highest on record and almo..

February 12, 2024

New York breaks online sports betting revenue record again in January

New York set a new online sports betting record for the second consecutive month during January, with operators generating $211.5m (£167.5m/€196.1m).

The January total was 12.3% ahead of the previous record of $188.3m set in December of 2023. It was also 41.6% more than the $149.4m reported in New York in January last year.

In terms of handle, players wagered a total of $1.96bn during the month. This was 9.5% up from $1.79bn in January 2023 but 3.9% less than December’s $2.04bn. It was also 6.7% behind the record $2.10bn reported in November last year.

Players spent more than $2.0bn between october 2023 and december

However, January marked the end of a three-month run of New York players spending more than $2.00bn betting on sports online. The state first surpassed the $2.00bn milestone in October 2023.

FanDuel clinches monthly revenue record in January

Looking at individual operators, Flutter Entertainment’s FanDuel remains the frontrunner by some distance.

In January, FanDuel..

February 12, 2024

Iowa sports betting handle and revenue rise in January

Sports betting handle and revenue in Iowa both increased year-on-year in January but fell on a month-on-month basis from December.

Total consumer spending in Iowa during January was $259.5m (£205.4m/€240.5m). This is 11.1% ahead of $233.6m in January 2023 and but 8.2% behind $282.7m in December.

Some $238.4m was spent wagering on sports online, while the remaining £21.1m was bet at retail sportsbooks.

revenue dipped 8.2% compared to december 2023

As for revenue, this amounted to $22.1m in January. The figure is 33.9% clear of $16.5m in January last year but 16.0% short of December’s $26.3m haul.

Online wagering accounted for $20.5m of all monthly revenue in Iowa, with retail’s share at $1.5m.

FanDuel and Diamond Jo Dubuque remains Iowa frontrunners

In terms of individual operators, FanDuel and Diamond Jo Dubuque remain the leaders in Iowa by some distance. For January, the partnership generated $8.0m from $68.0m in bets.

DraftKings and partner Wild Rose Jefferson followed in a ..

February 9, 2024

BetMGM signs exclusive sports betting partnership with X

BetMGM has announced a partnership with the social media platform X, formerly known as Twitter, becoming its exclusive live odds sports betting partner.

BetMGM, a joint venture between Entain and MGM Resorts, labelled the move a “first-of-its-kind” partnership, with BetMGM’s odds and branding integrated onto the social media platform in the United States.

The visible odds will initially be just professional American football, although each of the major professional and college sports are expected to follow in the next couple of weeks.

BetMGM chief executive Adam Greenblatt said: “X is the centre of the sports world’s conversation 24 hours a day, seven days a week. Being directly accessible within that forum is an unprecedented opportunity to expand our reach to a passionate and engaged audience.

Linda Yaccarino, X chief executive, added: “Sports never sleep on X and now with our strategic partnership with BetMGM, fans are practically in the front row. We’re bringing sports fans on ..

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Tag: Online sports betting