Online sports betting Archives

December 21, 2023

Louisiana smashes sports betting handle record again in November

Louisiana players wagered $356.5m (£282.1m/€325.8m) on sports during November, a new monthly record for the Pelican State.

The November handle surpassed the existing record high of $308.6m set in October 2022 by 15.5%. It was also 32.7% up from $268.6m in Louisiana in November last year.

Consumers spent $322.9m betting online during November and a further $33.5m at retail sportsbooks.

Revenue falls some way short of Louisiana record

louisiana’s november revenue fell short of october’s record total

While spending was higher, this was not reflected in the state’s monthly revenue figure. For November, revenue from online and retail wagering amounted to $19.4m.

This was significantly better than last year’s loss of $25.6m in Louisiana. The November 2022 loss was due to US businessman Jim “Mattress Mack” McIngvale winning several large bets on Major League Baseball’s World Series.

November’s revenue total was also 55.2% behind the October 2023 record of $43.3m.

Breaking down revenu..

December 20, 2023

Pennsylvania blames ESPN Bet for November betting revenue drop

Pennsylvania has reported a 1.7% drop in revenue despite sports betting handle reaching $900m for the first time.

The total revenue in Pennsylvania in November was $444.5m (£351.2m/€405.6m), down on the $452.4m reported the same month last year.

This was in spite of sports betting handle reaching $934.1m, smashing the previous record of $829m recorded in October of this year. Notably, November’s sports betting handle was 18.4% higher than the $789.2m accumulated in the same month last year.

ESPN Bet blamed for Pennsylvania’s sports betting revenue decrease

Despite the sizeable increase in handle, sports betting revenue fell to $12.9m in November from $52.9m in October, a 73% drop month-on-month.

The Pennsylvania Gaming Control Board pointed to a low hold percentage, as well as the November launch of ESPN Bet, as reasons for the “steep drop in revenue”.

Operating under the Hollywood Casino at Penn National, ESPN Bet recorded a $7.8m loss, largely because of its “significant amount..

December 20, 2023

Michigan operators boosted by record monthly igaming receipts

Michigan’s commercial and tribal igaming operators generated record gross receipts of $175.3m (£138.5m/€160.2m) in November, according to the state’s regulator.

Michigan’s total gaming revenue beat the previous record of $171.8m in March and $160.3m in October, the Michigan Gaming Control Board stated. Total igaming handle was not reported.

November’s total online sports betting handle of $568.8m also set a new monthly record – up 6.7% from $533m in October. However, online sports betting receipts fell from $45m to $33.9m versus the previous month.

Accordingly, igaming and sports betting gross receipts totalled $209.2m in November. This represented a 1.9% increase on October’s total.

Sports betting falls in Michigan

Combined igaming and internet sports betting adjusted gross receipts (AGR) for Michigan in November totalled $158.1m. This included $157.8m from igaming and just $294,810 from online sports betting.

The November totals represented a month-on-month 9.4% increase and 9..

December 19, 2023

BetMGM and NHL announce multi-year extension to partnership

BetMGM will continue to be an official sports betting partner of the National Hockey League (NHL) after penning a multi-year extension.

The renewal, announced on Tuesday, will see BetMGM continue to use NHL imagery on its casino games and have “significant branding” visible on nationally televised broadcasts.

BetMGM signed the initial deal in 2018. In April 2022, BetMGM joined FanDuel in expanding its partnership with the NHL. This move was announced in the wake of Ontario launching its sports betting market, allowing BetMGM to expand into Canada for the first time.

BetMGM chief executive Adam Greenblatt is excited for the continuation of the partnership, saying: “Our partnership extension with the NHL enables us to enhance the BetMGM product and offer fans unforgettable entertainment built around the game they love.

“The NHL is more thrilling than ever – a symphony of athleticism, teamwork and skill on skates. We look forward to bringing our customers exceptional live experiences ..

December 19, 2023

SharpLink: The personalisation effect

Sports betting is a multi-billion dollar industry and everybody wants a slice of that pie. Cole Rush speaks to Rob Phythian, CEO of SharpLink about how personalisation can improve the sports betting experience.

Operators have boiled their launch processes down to a science, offering welcome bonuses to bring players to their platforms. From there, retention is the true goal. That’s where SharpLink comes in.

“There’s a huge audience for betting, but the experience can be pretty one-dimensional and transactional,” says Phythian. “The technology today gets you live and gets you secure, but it leaves you a generation behind.”

Phythian compares sports betting to tech giants like Netflix or Amazon. Consumers expect personalisation and tailored recommendations in almost every industry. In sports betting, they’re not getting that same degree of personally catered offers.

SharpLink aims to change that. The company seeks to understand user behaviour and serve it back to bookmakers so they can..

December 18, 2023

Sun International acquires Peermont in ZAR7.3bn deal

South Africa's Sun International has agreed the purchase of Peermont, including its flagship Emperors Palace resort and online brand PalaceBet.

The deal, announced on Monday, is worth ZAR7.3bn (£313m/€363.2m/$396.6m). Sun International labelled the move a “unique opportunity”, acquiring a “world-class and highly cash generative” company in Peermont.

The agreement sees Sun International obtain Peermont’s 11 properties across South Africa and Botswana. The online sports betting site PalaceBet is also included.

Emperors Palace is a leading casino resort in Gauteng, with 1,695 slot machines, 69 gaming tables and 757 rooms. In Sun International’s announcement, it pointed to the resort’s “unique proximity” to the OR Tambo International Airport as an opportunity to attract “high net-worth customers”.

The move was backed by the group’s investors, with 62.54% of shareholders providing written support for the purchase. Sun International believes the transaction will “enhance the qualit..

December 15, 2023

ACMA flags gambling giants for breaching in-play betting rules

The Australian Communications and Media Authority (ACMA) has revealed four leading online gambling brands have breached in-play betting rules in the country, with Ladbrokes and Bet365 among those flagged.

ACMA said the operators breached interactive gambling rules through the use of “Fast/Quick codes” to facilitate in-play betting on sports. Entain-owned Ladbrokes and Neds, as well as Hillside’s Bet365 and Sportsbet, were the four guilty parties named by ACMA.

Australia’s Interactive Gambling Act 2001 prohibits in-play betting on sports matches, with only limited exceptions. These include placing the bet over the phone, whereby the player must make an actual phone call to make the wager.

Players must first gain a Fast/Quick code from an operator’s website or app to build an in-play wager. This code embeds the event, bet selection and bet type of the in-play bet. The player then quotes this code when making the call to finalise the bet.

However, ACMA said this was not the case with..

December 15, 2023

Kansas smashes sports betting handle record in November

Kansas set a new sports betting handle record for the third consecutive month in November, with players wagering a total of $260.9m (£204.5m/€237.5m) across online and retail.

The November total surpassed the existing record of $249.7m in October by 4.5%. This was also 40.0% higher than the $186.4m wagered in Kansas in November last year.

Of this total, $251.7m was spent betting online, with the remaining $9.2m wagered at retail sportsbooks across Kansas.

However, record handle was not enough to also push revenue to a record high. In November, sports betting revenue in Kansas hit $8.9m. This was 38.2% behind October’s $14.4m record but 11.3% ahead of $8.0m in November 2022.

Online sports wagering accounted for $8.2m of total revenue in Kansas. A further $753,778 came from betting at retail sportsbooks.

Boot Hill and Kansas handle surpasses $100.0m

Breaking down the market, Boot Hill Casino and DraftKings remained the clear leaders in the online sector in Kansas. The partnership h..

December 14, 2023

Road to ICE 2024: A fascinating year for US sports betting

On the road to ICE, iGB will prep you for the biggest show of 2024 with this new series covering the latest developments since 2023's show.

The launch of ESPN Bet earlier this year has thrown the proverbial cat among the pigeons in the US sports betting world, setting us up for an intriguing 2024.

ESPN Bet, the newly branded online sportsbook operated by Penn Entertainment, went live across 17 US states in November.

Its app was downloaded over a million times within six days of its launch. This was also aided by the busy sports calendar of Thanksgiving week.

The combination of the largest sports media brand in the US and the expertise of Penn Entertainment could threaten to topple the giants of FanDuel and DraftKings.

DraftKings CEO Jason Robins says he is “keeping a close eye” on the ESPN Bet launch. As we also saw in a recent interview with iGB, Mike Morrison, vice-president of ESPN’s sports-betting arm, was delighted with the “really smooth” launch.

“We’re thrilled,” Morr..

December 14, 2023

Indiana sports betting handle hits record $513.7m in November

Players in Indiana spent $513.7m (£406.6m/€471.8m) betting on sports in November, a new monthly record for the Hoosier State.

The November total edged out the existing Indiana record of $500.1m set in January 2022 by 2.7%. This was also up 13.6% from $452.3m in November 2022 and 19.6% higher than $429.7m in October this year.

Basketball drew the most wagers at $145.7m, helped by the start of the new NBA season in late October.

American football bets hit $136.9m and baseball $1.1m. A further $169.8m was spent on parlay bets and $59.8m betting on other sports.

In terms of taxable adjusted gross revenue, this reached $30.7m in Indiana in November. This was 23.3% behind $40.0m in the same month last year and 32.1% behind October’s $45.2m haul.

Blue Chip Casino and FanDuel regain the lead in Indiana

Breaking down operator performance, Blue Chip Casino and FanDuel returned to the front of the pack. The partnerships heralded $12.4m in revenue from $176.3m in bets in November.

Amerista..

December 13, 2023

Vermont to launch online mobile sports betting on 11 January 2024

Vermont governor, Phil Scott, and department of liquor and lottery commissioner, Wendy Knight, have announced legal online sports betting will launch in the Green Mountain State on 11 January 2024.

Players in Vermont can download apps from licensed operators and place legal bets online from this date. Consumers will soon be able to pre-register with operators ahead of next month’s launch.

The launch has been made possible after Scott signed House Bill 127 into law in June this year. The bill permits up to six online sportsbooks to operate in Vermont.

Through a competitive bid process, the Vermont Department of Liquor and Lottery selected DraftKings, FanDuel and Fanatics Sportsbook to operate mobile sports wagering platforms in the state.

Operators will pay tax at rate of 20% of adjusted gross sports betting revenue. It is hoped betting will generate an additional $7.0m in revenue for Vermont during the first year of legalisation.

The bill also provides more resources to improve r..

December 13, 2023

Bill Hornbuckle on MGM Resorts’ global growth ambitions

MGM Resorts’ home town of Las Vegas evolved beyond all recognition during Bill Hornbuckle’s time in gaming, but it’s not the only show in town. He’s eyeing up expansion across a range of global markets and expanding into new channels.

Things are booming in MGM Resorts’ home town, but it’s much more than a Vegas-based business. Hornbuckle leads global development efforts and having taken MGM into Macau he’s still looking east.

MGM Resorts looks east

Japan’s ministry of land, infrastructure, transport and tourism certified plans for a $10bn integrated resort in Osaka in April. After finalising agreements with Osaka Prefecture and City, construction can begin on the property.

Marginally closer, opportunities are emerging in the United Arab Emirates. First Wynn sealed an agreement for a resort in Ras al-Khaimah. Then a federal regulator, the General Commercial Gambling Regulatory Authority (GCGRA) emerged paving the way for resorts in other Emirates.

MGM is focused on Dubai, Hornbu..

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Tag: Online sports betting