Online sports betting Archives

June 5, 2023

Colorado players bet $12.10bn on sports in first three years

Consumers in Colorado wagered $12.10bn on sports during the first full three years of legal betting in the US state.

Colorado launched its regulated market in May 2020, with the total amount spent covering player bets through to the end of April this year.

Of this figure, $11.95bn was wagered online and $146.9m at retail sportsbooks.

Gross gaming revenue for the three-year period amounted to $817.0m. Some $808.9m of this came from online betting, while $8.1m was attributed to land-based wagering.

Read the full story on iGB North America

June 1, 2023

North Carolina edges closer to legalising sports betting

North Carolina has moved closer to legalising sports betting, after a bill that would do so was voted through by its state senate.

House Bill 347 was introduced on 13 March. It passed North Carolina’s House of Representatives on 30 March before being moved to the senate, where it passed on its second reading.

If passed into law, the bill would allow bets to be placed on sports and horse racing in North Carolina.

Read the full story on iGB North America

June 1, 2023

Rivalry launches mobile sports betting in Ontario

Rivalry has expanded its operations in Ontario with the launch of its mobile sports betting app in the Canadian province.

The app will allow customers to wager on a range of traditional sports events and esports contests.

Betting options available to players include football, soccer and basketball events, as well as esports competitions based on games such as CS:GO, League of Legends and Dota 2.

Rivalry has been active in Ontario for some time having secured a licence in the province in April of last year.

Read the full story on iGB North America

May 31, 2023

BettorEdge pens deal with Betting Ladies

Sports betting exchange and social media platform BettorEdge announced that it has signed a content distribution deal with female-orientated affiliate Betting Ladies.

Under the terms of the deal, Betting Ladies will provide the BettorEdge community with access to the business’ suite of training videos, tips and content.

BettorEdge’s users will be able to follow Betting Ladies directly on the platform to receive content and picks from the affiliate’s Lady Locks series. The businesses noted that a transparent betting exchange shows a user’s betting history to support risk management.

Betting Ladies founder Val Martinez said that her organisation provides a community for women bettors to discuss sports and sports betting. She described BettorEdge as a “great extension” of that community.

“The future of sports betting is enabling communities to connect and learn from each other’s experiences to make more educated decisions,” said Martinez.

“Through this partnership, we’re placing Bet..

May 31, 2023

RI sports betting handle slips to eight-month low in April

Player spending on sports betting in Rhode Island fell to an eight-month low in April, but the state was still able to report a year-on-year increase in revenue.

Handle for the month amounted to $37.5m, down 6.7% from $40.2m in April 2022, and also 9.6% lower than the $41.5m wagered in March this year.

Of this total $27.5m was spent betting online, while the remaining $10.0m was wagered at retail sportsbooks. This included $5.8m at Twin River casino’s sportsbook and $4.2m at the Tiverton Casino.

Revenue for the month reached $3.0m, which was 25.0% ahead of $2.4m in April last year but 25.0% lower than $4.0m in March 2023.

Read the full story on iGB North America

May 31, 2023

FL highlights “solid” Betclic growth in stable Q1

FL Entertainment highlighted the “solid” 16% revenue growth of its gaming subsidiary Betclic in a stable Q1.

Overall FL’s online sports betting and gaming revenue rose to €244m in Q1, up 14.5% from the previous year.

Chief executive François Riahi said the business’ betting and gaming divisions continued to “perform well” during the quarter. He added that the business was carried by the positive impacts of the 2022 Fifa World Cup “which resulted in double-digit revenue growth across all activities”, he said.

the business said it was “carried” by the positive impact of the world cup

The company also pointed to the high level of new active players, which increased 55% year-on-year. FL said that this resulted from the football tournament, as well as “successful cross selling strategies” across the business’ other products.

FL Q1 segment growth

All of the verticals experienced growth during the period. The company’s sportsbook revenue rose 11.3% to €194.8. Casino increased 31.6% to ..

May 24, 2023

International growth offsets NA decline in Super Group Q1

Growth in Betway-operator Super Group’s African, Middle Eastern and European operations partially offset the decline in revenue experienced in the company’s North American division.

Super Group chief executive Neal Menashe praised the “solid” result in Q1 and emphasised that the company remained focused on profit and revenue growth.

“During the month of March, net gaming revenue was a record high, along with the operational EBITDA margin of over 20% and this is a strong reminder of the value of operating leverage in our business,” he said.

“We are confident that we will continue to build on another strong quarter across igaming and sports betting across the world.”

Regulation in Ontario throttles North American segment

Super Group reported €338.5m for the first three months of 2023, a 1% rise from the €334.5m the company achieved in the same period of the previous year.

Overall, Super Group’s Betway sports betting and gaming business generated €198.2m of the total, while the op..

May 24, 2023

Fanatics’ Matt King brings new thinking to US sports betting

As CEO of FanDuel, Matt King took a daily fantasy sports brand to the top of the US sports betting industry, and in the top job at Fanatics Betting and Gaming he’s looking to do it all over again. Not that he’s looking to emulate his former employers in leading the ecommerce giant; it’s Spotify that inspires him.

For Fanatics Betting and Gaming chief executive Matt King, the challenge he is taking on isn’t building a market leader. He’s already done that during his tenure at FanDuel, which is currently sitting with a seemingly unassailable market share across the US. Revenue there grew from $200m to over $1bn on his watch.

And his core goal isn’t to build an entity capable of taking on a behemoth he created. Instead the billion-dollar question is: how do you create something capable of providing a genuine alternative to consumers?

In a market dominated by iTunes, he’s looking to build Spotify.

Fanatics: Officially licensed everything

What separates Fanatics Betting and Gaming f..

May 23, 2023

MA regulator “frustrated” by DraftKings betting violations

Commissioners from state gambling regulator, the Massachusetts Gaming Commission (MGC), said they were “frustrated” by DraftKings' betting violations.

DraftKings reported itself to the Commission after discovering it had offered bets on the tennis UTR pro-series, which is not an approved betting event in the state.

The MGC’s Investigations and Enforcement Bureau (IEB) looked into the case. The wagering took place over a 12-day period from 10 March to 22 March.

During this time, players placed 864 bets on three events for a total handle of $7,867. DraftKings said the reason the error took place was because of a “miscommunication” between its trading and trading compliance teams.

The fault occurred after the operator copied a list of tennis offerings from a different jurisdiction without verifying if the event was approved in Massachusetts.

After discovering the issue, the DraftKings returned stakes to the players who had placed a bet, as well as removed any winnings and return..

May 23, 2023

Underdog pens North America deal with GeoComply

Fantasy sports operator Underdog has selected fraud prevention solutions provider GeoComply as its geolocation supplier for North America.

Previously, Xpoint served as Underdog’s geolocation provider.

Under the terms of the deal, Underdog will access GeoComply’s Core suite and Solus product for its fantasy sports offering, as well as its planned sports betting operations.

GeoComply’s Core product is the supplier’s flagship geolocation service. Customers who have the licence to operate this product can also access the business’ range of fraud prevention tools to protect their operations from bonus abuse, identity theft and chargeback fraud.

The business’ Solus solution is a fantasy sports geolocation solution for web-based players. The system runs on HTML5 browsers, removing the need for players to download additional apps or plug-ins.

GeoComply praise deal

GeoComply vice-president of business development and licensing, Sam Basile, said the business was “thrilled” to be working wi..

May 22, 2023

NH sports betting revenue up in April despite handle drop

The New Hampshire Lottery reported year-on-year and month-on-month increases in sports betting revenue despite a drop in handle.

Players spent $65.1m during the month, down 10.9% from $73.1m in April 2022 and 37.0% lower than the record $103.4m bet in March this year.

Online spend for April reached $56.8m, while a further $8.3m was bet at retail sportsbooks.

In contrast, revenue from sports wagering in April amounted to $6.7m. This was up 97.1% on 2022 and 39.6% more than in March.

Internet betting accounted for $6.1m of monthly revenue, with retail betting at $586,755.

Read the full story on iGB North America

May 19, 2023

DC sports betting revenue and handle down in April

Sports wagering revenue and handle in Washington DC both declined year-on-year in April, while the market also experienced a month-on-month drop.

Players spent $14.5m betting on sports during the month, down 21.2% from $18.4m in April 2022 and also 19.9% lower than the $18.1m wagered in March this year.

Turning to gross gaming revenue and this reached $1.3m, down 7.1% year-on-year and a drop of 43.4% from April’s total.

Breaking down performance by operator, Gambet, run by the DC Lottery and powered by Intralot, moved back into top spot with $626,273 in revenue from a $5.7m handle.

Caesars Entertainment placed second with $524,245 in revenue from $4.6m in total wagers. BetMGM followed with $138,784 in revenue from $2.5m in bets.

Read the full story on iGB North America

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Tag: Online sports betting