Online sports betting Archives

June 7, 2023

Sky Bet and EFL agree five-year partnership extension

The English Football League (EFL) and Sky Bet have agreed to a record five-year partnership extension, wherein Sky Bet will remain as the League's title partner until the end of the 2028-29 season.

The extension builds on a decade-long partnership. It includes a new rights fee from Sky Bet, which is up by 50%. The aim is for this to produce “significant revenues for EFL clubs” and support the League’s goal to make all clubs “financial sustainable”.

In addition, Sky Bet will invest £1m per season and £6m in total into an EFL-held Community Fund, which will be distributed into communities at EFL club locations throughout England and Wales.

The funding will be used to deliver initiatives operated by the EFL Trust and the network of club community organisations.

Trevor Birch, EFL chief executive, said that the increased funding enforces the EFL and Sky Bet’s focus on community investment.

“We have consistently seen our partnership evolve to move with the times and, with community..

June 7, 2023

Rio’s Loterj issues first sports betting tender in Brazil

The Rio de Janeiro State Lottery (Loterj) has become the first state lottery in Brazil to issue a tender for sports betting.

Awarded to São Paulo-based Rede Loto, the five-year tender permits the operator to offer online sports wagering in the country.

Loterj said that the new tender is worth R$5.0m (£819,520/€952,405/US$1.0m).

“Since I took over the management in July last year, I had the objective of publishing the accreditation notice for sports betting; we achieved more than that,” municipality president Hazenclever Lopes Cançado said.

“We have the first company accredited and ready to operate in our country. I appreciate the unconditional support of the governor, Cláudio Castro, and the secretary of the civil house, Nicola Miccione, who believed in the project.”

Loterj added that the approval should encourage that other interested parties to register and also gain accreditation for sports betting.

Provisional measure

The tender comes ahead of the expected federal regulatio..

June 7, 2023

Adam Greenblatt outlines BetMGM’s path to profitability

The US sports betting and igaming market is maturing and at BetMGM Adam Greenblatt believes product is the battleground where the leaders will be decided for the market’s next phase.

Adam Greenblatt has led BetMGM, the joint venture between Entain and MGM Resorts since its formation in 2018. It is on track to achieve profitability in the second half of the year.

BetMGM is live in 20 states, as well as Washington DC and Puerto Rico and Ontario in Canada. Since 2018, it could be seen as the only business to consistently keep pace with DraftKings and FanDuel.

It didn’t have the database of the legacy daily fantasy giants. But thanks to the MGM Resorts connection (and without M&A along the way), it’s established as a top tier brand in the US.

Other brands with designs on a top tier position such as Caesars, Bally’s, Penn National and 888, have undergone significant change. They’ve acquired to grow, onboarded new tech or sought out new partners.

This may help each business close the..

June 6, 2023

Bet365 launches in Iowa

Bet365 has officially launched in Iowa through a multi-year partnership with Casino Queen Marquette.

This is the latest state launch for the operator, following its entries into Virginia, Ohio, New Jersey and Colorado.

“We are incredibly excited to welcome the Hawkeye State to Bet365,” said a spokesperson from Bet365. “From Sioux City to Marquette and everywhere in between, Iowans will now have access to our market-leading sportsbook product.”

Read the full story on iGB North America

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..

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Tag: Online sports betting