Online sports betting Archives

October 10, 2023

Colorado bounces back in August as sports betting handle hits $306.1m

Consumers in Colorado spent $306.1m betting on sports in August, an increase on the same month last year, while revenue was also higher.

Handle in Colorado was $15.5m ahead of $290.1m in August 2022. The monthly sports betting spend also surpassed the $281.1m wagered in July this year by 8.9%.

Players bet a total of $304.2m online during August, with the remaining $1.9m wagered via retail sportsbooks.

Baseball remained the most popular sport to wager on in Colorado, drawing $105.5m in bets. The state is home to Major League Baseball franchise the Colorado Rockies.

Tennis ranked second in terms of betting spend, with players wagering a total of $29.9m on the sport. Basketball followed with a $26.4m handle, while $53.5m was spent on parlay wagers in August.

Sports betting revenue remains level in Colorado

Turning to revenue, gross gaming revenue from sports wagering in August reached $25.9m. This was level with the same month last year and 3.6% ahead of the $25.0m generated in July..

October 10, 2023

Iowa sports betting handle jumps to $245.8m in September

Monthly sports betting handle in Iowa increased year-on-year to $245.8m in September but revenue in the Hawkeye State declined.

Players spending on sports betting in Iowa was 22.8% ahead of the $200.2m wagered in September 2022. The monthly handle was also 74.1% higher than $141.2m in August this year.

Of the total bet in September, $222.3m was spent online and $23.4m at retail sportsbooks across Iowa.

As for revenue, sports wagering net receipts for the month amounted to $24.1m. This was 5.1% lower than $25.4m in September last year but 78.5% more than $13.5m in August of 2023.

Online sports betting accounted for $20.9m of revenue in September and retail wagering $3.1m.

Diamond Jo Dubuque retains top spot in Iowa

Looking to individual operators, Diamond Jo in Dubuque and partner FanDuel remain out on front in Iowa. The partnership heralded $6.0m in revenue from $52.6m in total wagers in September.

Wild Rose in Jefferson and partner DraftKings placed second with $3.4m in revenue..

October 9, 2023

New York mobile sports betting revenue hits record $165.6m in September

Mobile sports betting revenue in New York reached a record $165.6m in September while handle hit a six-month high of $1.76bn.

Revenue was up 15.6% from $143.3m in New York in September 2022 and 68.1% more than $98.5m in August this year. This is according to figures published by the New York State Gaming Commission.

Handle also increased year-on-year. The total $1.76bn spent was 39.7% higher than $1.26bn in September 2022 and 58.6% ahead of $1.11bn in August 2023.

Spending reached its highest monthly amount since $1.79bn was wagered in New York in March.

FanDuel remains ahead of DraftKings in New York

Flutter Entertainment-owned FanDuel retained top spot in revenue terms in New York. It posted $76.9m in gross gaming revenue (GGR) in September and processed $682.5m in mobile wagers.

Long-term rival DraftKings placed second with GGR of $61.4m and a superior handle of $710.5m – the highest in the state.

Caesars was next in line with $12.6m in GGR and a $174.0m handle. BetMGM follow..

October 6, 2023

Kambi to power 711’s expansion into Dutch online sports betting market

Sports betting solutions provider Kambi Group has partnered with 711 to support the online gambling operator’s expansion into the Dutch sports wagering market.

Under the deal, Kambi will provide 711 with its Complete sportsbook. This includes a sports betting platform, its Bet Builder offering and AI-powered trading products.

Belgium-based 711 currently only offers online casino to customers in the Netherlands via its internet casino games licence. The operator launched in the Dutch regulated market last year.

However, having partnered with Kambi, 711 will apply to Dutch regulator Kansspelautoriteit to extend this licence to also cover online sports betting.

“711 online casino has achieved strong growth since we debuted in the Netherlands,” 711 COO Gilles de Backer said. “It became clear that sports betting would be an important next step in the brand’s journey.

“By partnering with a leading sportsbook provider like Kambi, we are excited to be in a position to provide our growing..

October 4, 2023

LeoVegas returns to the Netherlands with new website

Online gambling operator LeoVegas Group has returned to the Netherlands with the launch of its new Dutch-facing LeoVegas.nl website.

The site offers a range of online casino games, live casino and sports betting. Customers in the Netherlands can access slot games and live table games with Dutch-speaking croupiers.

The launch comes after LeoVegas secured a new licence in the country in July through its LeoVegas Gaming business. Issued by national regulator Kansspelautoriteit (KSA), the five-year licence covers casino, live casino and sports wagering activities.

“The king of casino is finally home in the orange kingdom,” LeoVegas Group CEO Gustaf Hagman said. “I am delighted that we are taking steps into the Dutch market.

“The combination of a well-known brand, our platform and cutting-edge content will make LeoVegas.nl a contender for the leader’s jersey in the Dutch igaming market.”

LeoVegas back after two years away

LeoVegas previously operated in the Netherlands before the c..

October 3, 2023

Novig to launch in Colorado with new licence

Commission-free sports betting exchange Novig has set out plans to launch in Colorado after securing a licence in the Centennial state.

The Internet Sports Betting Operator licence from the Colorado Division of Gaming will allow Novig to roll out its offering in Colorado. The operator will partner with Full House Resorts and its Bronco Billy’s Casino property in Cripple Creek.

Novig is building a commission-free, high-frequency sports betting exchange. However, until exchange betting is approved in Colorado, Novig will be active as a sports betting operator.

The operator will initially offer football, basketball, baseball and college sports markets before expanding to more sports next year. Users can place bets on the moneyline, point spread and game totals, both pre-game and in-game.

“We’re thrilled to kick off our journey in the vibrant sports betting landscape of Colorado,” Novig co-founder and CEO Jacob Fortinsky said. “We’d like to thank the Division of Gaming for their help t..

October 3, 2023

Rhode Island sports betting revenue declines in August

Sports betting revenue in Rhode Island slipped to $1.4m in August while the state’s handle was also down month-on-month and year-on-year.

Revenue was 53.3% lower than $3.0m in August 2022 and 26.3% behind $1.9m in July this year. This is according to data from the Rhode Island Lottery.

Of this total, mobile betting accounted for $1.2m of all revenue, with $144,099 coming from the retail market. Twin River’s revenue hit $234,649 but a $90,550 loss from Tiverton Casino pushed the total retail figure down.

Sports betting handle hits $22.5m

Turning to player spending and sports betting, handle in Rhode Island for the month reached $22.5m. This was 18.8% lower than $27.7m last year but 11.4% more than $20.2m in July of this year.

Consumers wagered $17.7m online and $4.8m at retail sportsbooks in the two-month period. Twin River took $2.8m in bets at its retail betting facility while Tiverton Casino took $1.9m.

Looking at the state’s performance in its financial year to date, revenue c..

October 3, 2023

Kambi pens multichannel sportsbook deal with Svenska Spel

Sports betting solutions provider Kambi Group has entered into a long-term, multichannel sportsbook partnership with Swedish operator Svenska Spel Sport & Casino.

Under the deal, Kambi will use its Complete sports betting product to power Svenska Spel’s online and retail sportsbooks. Kambi subsidiary Shape Games will also power the front end of the operator’s new sportsbook.

Kambi says it expects the new agreement to have a meaningful financial impact from the second half of 2024.

Founded in 1997, state-owned Svenska Spel has both an online presence and runs a network of approximately 5,000 retail outlets. Svenska Spel selected Kambi as its new sports betting partner after the tender process.

“It has been an extensive process,” Svenska Spel’s head of product for sports betting, Dan Korhonen, said. “We have evaluated a number of different alternatives and we feel we have found the perfect partner in Kambi.

“This partnership will further strengthen our offering. We look forward to ..

October 2, 2023

Super Group exits India over new online betting tax

Betway operator Super Group has withdrawn from the Indian market in response to a new online gambling tax rate that came into effect this month.

Operators are now having to pay a flat 28% turnover tax for online gambling, casino and horse race betting. The rate came into effect yesterday (1 October) after being announced by the Goods and Council Tax Council (GST) in India in July.

Super Group says the new rules mean the Indian market is no longer commercially viable for the business. As such, it has dropped all services with immediate effect.

“We are continuously evaluating evolving regulatory landscapes across the many markets we serve,” Super Group CEO Neal Menashe said. “Informed by years of operating our geographically diverse business, we remain confident about the long-term growth opportunities in front of us.”

Super Group adds that despite the exit, full-year financial projections are unchanged.

Industry body blasts higher rate

Tax will be applied to the full-face value o..

September 29, 2023

DC Circuit denies West Flagler’s motion to stay

The US Court of Appeals for the DC Circuit has denied West Flagler Associate's motion to stay.

The motion, which was filed last week, was objected to by the US Department of the Interior (DOI) earlier this week (26 September).

West Flagler’s request to stay was its latest attempt to block the Seminole Tribe of Florida from rolling out Hard Rock Bet. The Seminoles were permitted to exclusively offer sports betting in Florida in May 2021. This was after Florida’s governor, Ron DeSantis, approved a compact agreement with the tribe.

The DC Circuit Court of Appeals filed the denial yesterday (28 September).

“Upon consideration of appellees’ motion to stay issuance of the mandate pending the Supreme Court’s disposition of a petition for writ of certiorari or, in the alternative, to stay issuance of the mandate for a reasonable time to permit appellees to seek a stay from the Supreme Court, and the opposition thereto, it is ordered that the motion be denied,” read the filing.

Gary B..

September 28, 2023

Kambi scores extended sportsbook deal with Sweden’s ATG

Kambi Group has signed a multi-year extension to its sportsbook partnership with Swedish horse racing and sports betting operator AB Trav och Galopp (ATG).

Under the deal, which extends a relationship that began in 2018, Kambi will provide ATG with its complete sportsbook. This covers sport betting across online and ATG’s retail network of nearly 1,500 outlets in Sweden.

Kambi has been able to renew the partnership after recently securing new approvals in the Swedish market. The provider picked up its B2B gambling permits in June in line with new regulations in the country that require suppliers to hold a B2B licence.

“Our strategy has always been to power market leaders or those with the potential for market leadership,” Kambi co-founder and CEO Kristian Nylén said. “In ATG we have a valued partner that has achieved just that since launching with Kambi in 2019.

“A sportsbook which offers the flexibility for operators to differentiate is vital in such a highly competitive market. ..

September 28, 2023

Kentucky opens legal online sports betting market

Kentucky will today (28 September) launch legal online sports betting, just weeks after the state also opened its regulated retail wagering market.

Governor Andy Beshear signed off on House Bill 551 in April, legalising both online and retail betting. The retail market opened on 7 September, with online delayed until today as part of a staggered launch.

Each of Kentucky’s racetracks can partner with up to three online operators as well as offer on-site retail betting. Last month, the Kentucky Horse Racing Commission (KHRC) approved sports betting licences for a number of operators.

For the online market, the initial seven operators that applied secured a service provider licence. Bet365, BetMGM, Caesars, Circa, DraftKings, FanDuel and Penn Sports Interactive all picked up licences.

Fanatics, which did not appear on the original list, was also approved to launch online sports betting. In addition, the KHRC issued a service provider licence to Kambi, although this only covers retail ..

December 2024
Mon	Tue	Wed	Thu	Fri	Sat	Sun
						1
2	3	4	5	6	7	8
9	10	11	12	13	14	15
16	17	18	19	20	21	22
23	24	25	26	27	28	29
30	31

Tag: Online sports betting