Online sports betting Archives

May 9, 2023

NY mobile sports betting revenue and handle up in April

Mobile sports wagering revenue and handle in New York both increased year-on-year during April, although the state experienced month-on-month declines.

Player spending in the month amounted to $1.54bn, which was 10.8% higher than $1.39bn in April 2022 but 14.0% behind the $1.79bn wagered in March of this year.

Gross gaming revenue followed a similar pattern, with the $138.8m generated in April being 33.3% up from $104.1m in the same month last year, but 14.7% lower than $162.8m in March.

Read the full story on iGB North America

May 5, 2023

Kambi scores sportsbook extension with long-term partner Paf

Sports betting solutions provider Kambi Group has signed an extension to its sportsbook deal with long-term partner, Nordic operator Paf.

Under the agreement, Paf will continue to leverage Kambi’s technology to power its online sports betting offering.

Paf, which began working with Kambi back in 2011, is licensed and controlled by the local government of Åland in Finland. The operator’s Paf brand is live in Finland, Sweden, Spain, Latvia and Estonia.

Swedish-focused sub-brands No Account Bet and Speedy Bet have also been added to the Paf group of brands.

“Kambi has played an important role in our journey as we have continued to establish Paf in regulated European markets,” Paf chief gaming officer Kim Johansson said. “The Kambi betting client, combined with a broad suite of great products have helped us to deliver an excellent experience for our customers, and we are excited at the prospect of building on this in 2023 and beyond.”

Kambi co-founder and chief executive Kristian Nyl..

May 4, 2023

Buying and selling the future of US sports betting

WagerWire is taking the simple concept of buying and selling bets and aiming to disrupt the US sports betting industry. As it looks to do away with transactional sportsbook experiences, and operators buy into the vision, chief experience officer Travis Geiger tells iGB there’s a new breed of executives ready to take charge.

“From the bettor’s point of view, it’s like StockX or Coinbase,” chief experience officer Travis Geiger says of WagerWire’s core proposition. “We want to be your central hub for all things sports betting. We’re not just trying to sign you up; we’re trying to be a part of your betting journey.”

It’s a big claim, but WagerWire is entirely different from any other US sportsbook. It holds affiliate vendor licences in 16 US states as well as Washington DC, Puerto Rico and Ontario. Not to mention affiliate partnerships with some of the biggest names in the industry – but the core product feels unique to that sector as well.

Want to understand WagerWire? Think StockX, ..

May 3, 2023

Delaware sports betting handle continues to decline in March

Player spending on sports wagering in Delaware fell to a seven-month low in March, although the state was able to report an increase in igaming wagers.

Betting handle for the month amounted to $3.5m, which was 32.7% lower than $5.2m in the same month last year and 14.6% behind the $4.1m wagered in February this year. This was also the lowest monthly total since August 2022.

However, sports wagering revenue was $544,385, only marginally lower than $553,465 in March 2022 and 77.6% higher than $306,573 in February.

Read the full story on iGB North America

May 2, 2023

RI sports betting revenue up in March despite handle decline

Sports wagering revenue in Rhode Island increased 8.1% year-on-year in March despite the US state reporting a decline in handle.

Players spent $41.5m betting on sports during the month, down 9.4% from $45.8m in March 2022 and also 3.7% lower than the $43.1m wagered in February this year.

Of this total, $30.0m was spent betting online, with the remaining $11.5m wagered at retail facilities at the Twin River and Tiverton Casino locations. Twin River took $6.2m in bets and Tiverton $5.3m.

Read the full story on iGB North America

May 2, 2023

Colorado sports betting revenue up despite handle drop in March

Player spending on sports betting in Colorado declined 2.2% year-on-year in March, although the US state was still able to report an increase in revenue.

Handle for the month amounted to $494.4m, which was down from $505.6m in March 2022 but 16.3% ahead of the $425.1m wagered in February of this year.

Consumers bet $489.9m online during the month, while the remaining $4.5m was wagered at land-based, retail sportsbooks in the state.

Read the full story on iGB North America

April 28, 2023

PointsBet confirms North American sales talks

Australian gaming operator PointsBet confirmed that the business is “currently in discussion with multiple parties” regarding the sale of its North American business.

The company also said that it has terminated previously reported talks to sell its Australian business to the News Corp-backed gaming venture behind the Betr brand. Despite this, PointsBet said it remains in discussion with “other third parties” who have expressed interest in acquiring the business.

“Consistent with commentary previously provided to our investors and the market more generally, PointsBet continues to engage in discussions regarding strategic transactions that offer the potential to add value for our shareholders,” said the company.

pointsbet also confirmed that it had terminated the talks to sell its Australian business to a news Corp-backed venture

Losses mount despite revenue growth

For the three-month period ending 31 March, the business recorded gross gaming revenue of AU$106.6m (£56.4m/€63.9m/US..

April 25, 2023

Yahoo acquires sports betting app Wagr

Yahoo has announced the acquisition of peer-to-peer sports betting app Wagr, bolstering its fantasy and gaming offerings.

While the terms of the acquisition were not disclosed, Yahoo did make clear that, as part of the deal, Wagr will be fully integrated into Yahoo Sports.

The betting platform has previously attracted a number of high-level investments, including support from Seven Seven Six – spearheaded by Alexis Ohanian, Reddit co-founder – the Kraft Group and the owners of the New England Patriots.

Wagr was also the first social sports betting operator to receive a licence in the United States.

Jim Lanzone, CEO of Yahoo, said that the acquisition represents the future of Yahoo’s gaming products.

“The acquisition of Wagr is an exciting step in the development of the next generation of Yahoo Sports’ gaming portfolio,” said Lanzone.

“Wagr stands out for their innovative emphasis on community and social engagement in sports gaming, which aligns perfectly with the Yahoo award-wi..

April 25, 2023

Spain sanctions 20 operators over illegal gambling in H2

Spanish regulator Dirección General de Ordenación del Juego (DGOJ) sanctioned 20 online operators over illegal gambling activities in the second half of 2022, imposing more than €35.0m (£31.0m/$38.6m) in fines in the process.

According to the ministry of consumer affairs, 20 operators were contacted about “serious or very serious infractions” across online betting and gambling during the six-month period, in relation to breaches of Regulación del Juego (LRJ) gambling law.

Of the operators contacted, seven were flagged for “very serious” infractions and banned from offering online gambling in the country for a period of two years. Each operator was also fined €5.0m, with these penalties totalling €35.0m in H2.

The DGOJ also detected “serious” violations across the other 13 operators, issuing financial penalties that amounted to €560,000.

Nine of these violations were related to a failure to comply with rules on advertising and marketing gambling in Spain, with each operator fined ..

April 20, 2023

New Hampshire sets sports betting handle record in March

Consumers in New Hampshire spent a record $103.4m betting on sports in March, beating the previous monthly high set back in January 2022.

The monthly handle was 3.9% ahead of the existing record of $99.5m, as well as 31.2% up from $78.8m in March 2022 and 18.9% ahead of the $87.0m spent in February this year.

Players wagered $93.4m online as well as $10.0m at retail sportsbooks across the state.

Read the full story on iGB North America

April 20, 2023

Record igaming revenue drives growth in Michigan in March

Gross online gambling revenue from commercial and tribal operators in Michigan jumped 33.4% year-on-year in March, helped by record monthly igaming revenue.

Gross receipts for the month from igaming and online sports betting reached $216.4m, up from $162.2m in March 2022 and $170.8m in February of this year.

Of this total, $171.8m came from online casino, a new record for the state surpassing the previous monthly high of $153.7m that was set in January 2023.

Read the full story on iGB North America

April 19, 2023

MA online sports betting handle hits $548.1m in first three weeks

Players wagered a total of $548.1m during the opening three weeks of legal online sports betting in Massachusetts, while licensed operators generated $46.7m in revenue.

The US state opened its regulated market on 10 March, with the inaugural online wagering report published this week by the Massachusetts Gaming Commission (MGC) covering the three-week period from this date, through to 31 March.

DraftKings proved the most popular operator among consumers, drawing $257.6m in bets in the opening weeks, ahead of FanDuel on $181.1m and BetMGM with $45.3m.

To read the full story visit iGB North America

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Tag: Online sports betting