Online sports betting Archives

August 16, 2023

Fanatics launches online sportsbook in four states

The latest challenger to the US online sports betting market, Fanatics Betting and Gaming (FBG), has launched its online sportsbook in Maryland, Massachusetts, Ohio and Tennessee.

After six months of beta testing, the Fanatics Sportsbook is now available to download on iOS and Android.

FBG highlights the new platform’s simplified betting and transparent withdrawals as features that will help it appeal to sports fans.

The sportsbook includes live scores, plus lines and odds for teams and athletes. Also included are moneyline bets, spread bets, over-unders, player props, live-in-game betting markets and same-game parlays.

Fanatics bets on product quality

“After six months of beta testing, we are excited to officially launch the Fanatics Sportsbook product to the public,” said FBG chief product officer Scot McClintic.

the fanatics sportsbook

McClintic also pointed to the business’ extended focus on product quality as key to its strategy.

“We are laser focused on solving pain poi..

August 16, 2023

FL sports betting hits latest obstacle as rehearing petition filed

The relaunch of the Seminole Tribe’s Hard Rock Bet online sportsbook may face another delay, as pari-mutuel betting operator West Flagler Associates files a petition calling for a rehearing of the case it lost on 30 June.

On 14 August, West Flagler submitted a petition for rehearing to the DC Circuit court, following the betting operator’s loss in the recent West Flagler Associates vs Haaland case.

This case cleared the path for the Seminoles to offer sports betting statewide in Florida, by confirming the state’s “hub-and-spoke” model sports from federal objections.

West Flagler file en banc rehearing

West Flagler’s filing called for an en banc rehearing. This means the case would be reheard by all judges on the bench at the DC Circuit Court, as opposed to the panel of three that heard the original case.

According to the Yale journal on regulation, a successful en banc rebench petition is a rare event in the DC Circuit.

the dc circuit rarely grants a en banc rebench petition

August 16, 2023

Massachusetts sports betting handle dips below $300m in July

Player spending on sports betting in Massachusetts fell for the fourth consecutive month in July, while revenue was also down month-on-month.

Total handle for retail and online sports betting reached $294.9m. This was 11.3% less than $332.0m in June and the lowest monthly total since the launch of legal online betting in April.

It was also the first time that combined land-based and internet betting spend fell below $300.0m.

Online wagering accounted for $288.1m, down 10.9% month-on-month. Retail betting also fell 20.0% to $6.8m.

Handle dip leads to revenue decline

Taxable revenue from sports betting also declined in July. The combined total from retail and online wagering reached $29.4m, a drop of 8.7% from June’s $32.2m.

Of this total, $28.8m came from online betting, down 10.3%. The remaining $576,139 was generated by retail wagering, which was 274.3% higher than June.

Looking at individual operators, DraftKings remained the runaway online leader, posting $14.4m in revenue of..

August 16, 2023

iGB pens strategic partnership with Glücksspielwesen.de

iGB has entered into a strategic partnership with Glücksspielwesen.de, the gambling-focused arm of Germany’s monthly news title for public servants, Behörden Spiegel.

Under the agreement, iGB will leverage its audience to connect the gambling industry with Glücksspielwesen’s network of policy analysts, advisers and politicians.

iGB will work with Glücksspielwesen on joint activations including content initiatives such as webinars. The deal also covers event support, with the aim of bringing together gaming operators and suppliers with Germany’s political classes.

The partnership comes in the wake of Germany’s reregulation of gambling. Earlier this year, the country welcomed Gemeinsamen Glücksspielbehörde der Länder (GGL) as its new federal regulator to oversee the market.

Creating a forum for engagement

“Clarion Gaming, the parent company of iGB, is clearly the champion of information in the gaming and gambling industry,” Behörden Spiegel senior consultant Robert Hess said. “Glüc..

August 16, 2023

Online growth drives US gaming revenue to record $16.1bn

US commercial gambling revenue reached a Q2 record of $16.07bn, the 10th consecutive quarter of growth, according to the American Gaming Association (AGA).

This represented an 8.1% increase from the total US gaming revenue recorded in Q2 2022 and is the second-highest grossing quarter in industry history, with only Q1 this year reporting a higher figure.

Overall, the US gambling industry generated $32.71bn in commercial gaming revenue for the six-month period, up 11.9% from last year.

AGA estimated the results led to $7.28bn in gaming tax revenue for state and local governments, a 12.9% increase from 2022. The trade body highlighted the industry is on track to contribute the highest total in tax revenue it has done in its history.

“While commercial gaming is on track for an unprecedented third consecutive year of record revenue, the lasting impact we’re making on our communities through this record growth is even more impressive,” said AGA president and CEO Bill Miller.

Online gam..

August 15, 2023

Detroit casino revenue remains level at $107.2m in July

Detroit’s three commercial casinos posted $107.2m in revenue for the month of July, level with last year and slightly up month on month.

July’s total was on par with the $107.2m in the same month last year. The figure was 6.5% higher than $101.5m in June this year.

Of this amount, $106.7m came from slots and table games, up by 0.7% year on year. Sports betting generated $485,763 in qualified adjusted gross receipts, (QAGR), a drop of 62.0%, while handle reached $8.0m.

MGM remained the leader in the Michigan city with 47% market share. Casino revenue at MGM reached $50.0m and betting QAGR $121,017.

Read the full story on iGB North America

August 15, 2023

Iowa betting revenue up despite another handle drop in July

Player spending on sports betting in Iowa fell again in July, although the state was able to post a month-on-month increase in revenue.

Handle for the month amounted to $109.7m. This was 0.7% up from $108.6m in July 2022 but 5.4% lower than $115.6m in June this year. It also represented the fourth consecutive month of spending decline.

Online spend stood at $101.3m for the month, with retail betting at $8.4m.

In terms of revenue, July’s total hit $10.6m. This was 5.4% lower than $11.2m last year but a 49.3% increase from $7.1m in June 2023.

Read the full story on iGB North America

August 14, 2023

Indiana sports betting revenue up despite handle dip in July

Sports wagering revenue increased in Indiana in July despite the state reporting a decline in handle.

Consumers in Indiana spent $203.8m betting on sports in July, a 1.4% drop from $206.6m in July 2022. This was also 9.1% behind $224.1m in June this year.

Baseball remained the sport of choice among Indiana bettors, drawing $69.4m in total bets. A further $12.6m was wagered on basketball, while $56.2m was spent in parlay bets and $62.9m betting on other sports.

Taxable adjusted gross revenue reached $23.3m, a 11.5% increase from last year. This was also 19.5% ahead of the $19.5m generated in June 2023.

Read the full story on iGB North America

August 11, 2023

Dearth of igaming legislation prompts major WynnBet roll-back

Wynn Resorts blames a dearth of igaming legislation and marketing costs for a major reduction in its online brand WynnBet’s US footprint.

Wynn will cease operations in Arizona, Colorado, Indiana, Louisiana, New Jersey, Tennessee, Virginia and West Virgina as soon as possible.

Operations in New York and Michigan remain under review. Only Nevada and Massachusetts operations are guaranteed to continue – states where it operates land-based properties.

“Better uses of capital deployment”

There are better uses of capital deployment for Wynn shareholders than the high levels of marketing spend required for online sports betting, chief financial officer Julie Cameron-Doe explained.

“While we believe in the long-term prospects of igaming, the dearth of igaming legislation and the presence of numerous other investment opportunities available to us around the globe have led us to the decision to curtail our capital investment in WynnBet to focus primarily on those states where we maintain..

August 11, 2023

Four more charged in Iowa State gambling investigation

Prosecutors in Story County, Iowa have charged four more Iowa State football players for tampering with records.

The charges come as part of the Iowa Division of Criminal Investigation’s (DCI) sports integrity probe.

Among those charged was Iowa State running back Jirehl Brock. He is accused of placing four bets on games involving his own team. Prosecutors allege that he played in two of these games.

The first round of charges were issued on 1 August. At that time, seven individuals were charged.

In May, the University of Iowa reported 26 athletes across five sports were suspected of betting on sports. Betting on sports is against National Collegiate Athletics Association (NCAA) rules.

Use of third party accounts to conceal betting

The four have all been charged with using a third party sports betting account to make bets. This practice would have concealed that the now-charged individuals were placing the bets.

Over the course of his wagering activity, Brock placed 1,327 mobi..

August 11, 2023

Risky business: The perils of setting Premier League odds

Simon Trim, launch consultant to 10star lifts the lid on the headaches facing bookmakers as a new Premier League season starts and what they can do to separate the signals from all the noise.

If, as a famous saying goes, the thoughts of a young man turn to love in springtime, then at this point in the summer – at the start of the football season – it’s all about what bookmakers are going to lay.

For trading teams, there are a multitude of factors to take into account – the significant one being transfers.

New signings can generate a lot of excitement among fans in the same way that losing a key player can be a big blow. Tottenham have drifted by around 7% to finish in the EPL top four next season, largely on the back of Harry Kane heading to Bayern Munich.

Simon Trim, launch consultant to 10star

While the transfer spending firepower of both the Saudi Arabia and MLS leagues and the subsequent means of offloading expensive unwanted players is good news for some Premier League clubs,..

August 11, 2023

Bet365 and FanDuel among applicants for KY mobile betting licence

The Kentucky Horse Racing Commission (KHRC) has received applications for new mobile sports betting licences from seven operators including Bet365 and FanDuel.

Kentucky will open its legal online wagering market next month, as per a schedule agreed last month. This came after the governor, Andy Beshear, approved legal betting by signing off on House Bill 551 in April.

Retail wagering will go live on 7 September, with mobile following on 28 September.

Applications for licences in the state have been open for some time, with the KHRC receiving proposals from a number of major operators.

Joining Bet365 and FanDuel in applying for mobile licences are BetMGM, Caesars, Circa, DraftKings and Penn Sports Interactive.

Kentucky racetracks eye retail licences

In terms of retail permits, the KHRC said seven of the state’s licensed sportsbooks have put forward applications.

These include Churchill Downs in Louisville, Oak Grove Gaming and Racing in Oak Grove, Ellis Park in Henderson, The Re..

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Tag: Online sports betting