Online sports betting Archives

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..

December 13, 2023

Fanatics soft launches sports betting in Connecticut

The Fanatics Betting and Gaming (FBG) subsidiary of Fanatics has announced the soft launch of online and retail sports wagering in Connecticut.

This week, the Fanatics Sportsbook will accept 2,000 online players in the state. A full launch will follow in Connecticut from 18 December.

Players in Connecticut can download the Fanatics Sportsbook to wager online. Consumers can also visit any of 10 retail sports betting locations to bet in person.

The soft launch comes less than two weeks after FBG was named as the new sports betting partner of the Connecticut Lottery Corporation (CLC).

This agreement designates Fanatics Sportsbook as the Connecticut Lottery’s exclusive sports betting partner across mobile and retail betting. The transition had been expected to occur in mid-December.

Fanatics replaces Rush Street Interactive in Connecticut

FBG takes the place of Rush Street Interactive (RSI), the Connecticut Lottery’s former sports betting partner. The two parties announced that they..

December 13, 2023

Colorado sports betting handle tops $554m in October

Players in Colorado spent $554.9m (£442.9m/€514.5m) betting on sports in October, with online wagering accounting for more than $500.0m of this total.

Sports wagering handle in Colorado was 5.4% ahead of $526.6m in October of 2022. The monthly total was also 8.2% more than $512.8m in September this year.

Of the total amount wagered, $550.4m was spent online and $4.4m at retail sportsbooks across the Centennial State.

Turning to gross gaming revenue, Colorado operators generated $46.9m in October. This was 28.5% higher than $36.5m last year and also 3.5% ahead of September’s $45.3m total.

Online betting generated $47.0m in revenue but a $90,005 loss from retail pushed the total figure down slightly.

American football drew the most bets, with players wagering $185.2m across online and retail. Basketball followed with a handle of $63.4m, then college football on $51.8m.

Other stand-out sports in Colorado included baseball with $38.3m in bets and tennis with $32.9m. Meanwhile, parla..

December 12, 2023

Sportradar scores global tennis data and streaming deal with ATP

Sportradar has agreed a global data and streaming rights deal with Tennis Data Innovations (TDI), a joint venture vehicle of the Association of Tennis Professionals (ATP) and ATP Media.

The multi-year deal grants Sportradar data and streaming rights for betting, as well as media data rights. The agreement covers all tennis events on both the ATP Tour and ATP Challenger Tour.

Sportradar said the partnership will focus on driving commercial growth for tennis and also improving fan engagement opportunities. This will include developing new betting and media products.

From this month, Sportradar will use its ATP Service+ suite of solutions to boost engagement with fans by providing value-added products and services. Features in ATP Service+ include augmented streaming, expanded in-play betting markets, video highlights and personalised and targeted betting products.

Sportradar will also work with TDI to create products for media. These, it said, will showcase more in-depth statistical..

December 12, 2023

Iowa sports betting handle rises again in November

Players in Iowa wagered $289.7m (£230.5m/€268.8m) on sports during November, up 17.1% on last year and the highest monthly total since January 2022.

The monthly Iowa handle was higher than $247.5m in November 2022 and 13.5% ahead of $255.3m in October this year.

The total was also the most spent since a record $303.3m was wagered in January 2022, some 22 months ago.

Breaking this down, some $265.8m was spent betting with online operators and $23.9m at retail sportsbooks across Iowa.

As for revenue, operators generated a total of $14.1m in November. This was 143.1% higher than $5.8m last year, although the November 2022 figures were hit by multi-million-dollar winning bet payouts to US businessman Jim “Mattress Mack” McIngvale.

However, the November revenue figure in Iowa was 33.5% behind the $21.2m generated in October this year. This was due to consumers winning significantly more in November ($275.6m) compared to October ($225.3m).

Of the revenue total, $12.6m came from online ..

December 12, 2023

Kentucky online sports wagers reach $323.6m in opening weeks

Consumers in Kentucky spent $323.6m (£257.2m/€300.2m) betting on sports online during the opening weeks of the Bluegrass State’s newly regulated market.

Kentucky launched legal online sports betting on 28 September. This followed the roll out of retail wagering on 7 September, with online delayed as part of a staggered launch.

The Kentucky Horse Racing Commission (KHRC) has now published figures for the opening weeks of the market. This data covers the final three days of September and the whole of October.

During this period, online bets amounted to $323.6m. This included $36.8m across the three days of September and $286.8m in October.

Adjusted gross revenue from online betting for the period reached $54.2m. Some $1.5m was generated in the final days of September, while revenue in October hit $52.7m.

FanDuel edges out DraftKings in Kentucky

Looking at individual operators, FanDuel led the way in the opening period. Partnered with Churchill Downs, FanDuel took $20.3m in revenue ..

December 11, 2023

New York sets $2.11bn handle record in November

Consumers in New York spent $2.11bn (£1.68bn/€1.96bn) betting on sports online during November, a new record for the state and the highest amount ever bet in any US state in a single month.

The November figure surpassed the existing New York record of $2.01bn set in October this year by 5.0%. New York in October became the first state to take over $2.00bn in legal sports bets in any given month.

The amount wagered in November was also 36.1% ahead of $1.55bn in the same month last year.

Online revenue for the month reached $150.9m. This was 9.3% behind the record $166.3m set in October but 1.8% higher than $148.2m in November 2022.

Out in front in New York with FanDuel

Flutter Entertainment-owned FanDuel stretched its lead in New York in November. Players spent $923.4m wagering on sports with FanDuel, with revenue reaching $69.2m for the month.

Long-time rival DraftKings was second with a $723.1m handle and $54.3m in revenue. Next was Caesars, taking $205.0m in bets and posting re..

December 8, 2023

Stats Perform pens 2030 extension to WTA rights data deal

Data provider Stats Perform has penned an exclusive agreement to continue as the rights partner of the Women’s Tennis Association (WTA) until 2030.

Stats Perform will continue to be the exclusive data rights partner of the Women’s Tennis Association (WTA) after signing an extended deal.

Under the agreement, Stats Perform will continue to serve as the official data supplier of the WTA. The deal will see the provider deliver an exclusive umpire-derived data feed for matches and an ultrafast data feed collected by the supplier’s Opta analysts.

Data collected by Opta analysts will include detailed match statistics, including rally and shot level. This, Stats Perform says, will increase the level of live insight available for WTA matches. It will also help power a new range of broadcast, second screen and betting experiences.

Extended until 2030

Stats Perform signed an initial six-year contract back in 2020 to become the WTA’s official data supplier. This fresh renewal, announced on..

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 ..

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Tag: Online sports betting