Online sports betting Archives

March 27, 2023

Tab NZ pens long-term strategic partnering with Entain

Tab NZ, the sole holder of a betting licence in New Zealand, has entered into a long-term strategic partnership with Entain.

Under the arrangement, which remains subject to ministerial approval, Entain will support Tab NZ with delivering wagering and broadcast functions in the country for a period of 25 years.

Tab NZ said it took the decision to enter such a partnership due to increasing competition, rising costs, capital constraints and other challenges that have impacted its ability to deliver adequate funding to racing and sports.

With these challenges expected to increase, Tab NZ said it had spent the last six months engaging with a range of operators in relation to a strategic partnering arrangement and received a number of proposals, including the successful pitch from Entain.

Specific terms of the deal will remain commercially confidential until approval is granted, but it was confirmed that Entain was selected based on a wide range of criteria, including operational experti..

March 24, 2023

GiG secures Maryland and Pennsylvania licences

Gaming Innovation Group (GiG) has secured an online sports wagering operator licence in Maryland and a full interactive gaming manufacturer licence in Pennsylvania.

The solutions provider said the new licences would allow it to build on its existing presence in North America, with the group already active across New Jersey and Iowa, as well as in Ontario in Canada.

GiG will initially use its Maryland licence to launch the Crab Sports brand in the state, with plans to go live in May this year. Maryland’s online gambling market opened in November and currently features eight mobile sportsbooks.

Read the full story on iGB North America

March 23, 2023

Portuguese online gambling revenue reaches record €195.3m in Q4

Online gambling revenue hit an all-time high of €195.3m (£173.0m/$213.0m) in Portugal during the fourth quarter of 2022, with record performances across both the sports betting and casino sectors.

Gross revenue for the three months to 31 December 2022 was 39.7% higher than €139.8m in the corresponding period of the previous year and also 23.4% more than the previous quarterly record of €158.2m set in Q3 of 2022.

Online casino

Casino was the primary source of revenue during the quarter, generating €109.8m in total revenue, up 48.3% year-on-year and 23.8% quarter-on-quarter, according to regulator the Gaming Regulation and Inspection Service (SRIJ).

Consumers spent €2.98bn playing online casino in Q4, up 42.1% from the previous year’s total and also a new record for the country’s market.

Slot machines were by far the most popular form of online casino, attracting 79.8% of all bets, with French roulette a distant second with 8.5% of bets and blackjack 5.5%.

Sports betting

Turning ..

March 21, 2023

Michigan online gambling revenue reaches $170.8m in February

Online gambling revenue in Michigan increased 17.6% year-on-year in February, although the US state experienced a month-on-month decline.

Total gross receipts from commercial and tribal operators across igaming and online sports betting for the month amounted to $170.8m, which was up from $145.3m in February 2022 but 8.8% behind $187.3m in January this year.

Some $148.2m of this came from online casino activities, up 2.3% on the previous year but 3.6% lower than January.

Read the full story on iGB North America

March 20, 2023

Massachusetts sports betting revenue reaches $2.0m in opening month

Sports betting revenue in Massachusetts amounted to $2.0m during the first full month of regulation in February.

The US state opened its legal sports betting market on 31 January with an initial three land-based operators going live: Encore Boston Harbor, MGM Springfield and Plainridge Park Casino.

Plainridge Park proved the most successful of the three operators with $890,555 in revenue for the opening month, just ahead or Encore Boston Harbor on $857,602. MGM Springfield generated $262,066 in sports betting revenue.

Read the full story on iGB North America

March 20, 2023

Louisiana online sports betting handle slips to seven-month low in February

Consumers in Louisiana spent $175.7m betting on sports online during February, the lowest monthly total since August 2022 and a year-on-year drop of 16.7%.

The total was down from $211.0m in February last year, the first full month of legal online sports betting in the US state, and also 28.3% lower than the record $245.2m wagered in January of this year.

However, revenue from online wagering reached $17.8m, up 6.7% from $16.7m in the same month last year, but 19.1% behind $22.0m in January 2023.

Read the full story on iGB North America

March 17, 2023

NJ gambling revenue up 10.4% year-on-year in February

Gambling revenue in New Jersey climbed 10.4% year-on-year during the month of February, with growth in almost all market sectors.

Revenue for the month amounted to $412.2m, according to the New Jersey Division of Gaming Enforcement. This was up from $373.3m in the same month in 2022 but 5.7% behind the $436.9m generated in January of this year.

Physical slot machines remained the core source of revenue in the state, with the $159.3m collected in February being 3.5% ahead of the previous year.

However, land-based table games revenue slipped 4.9% to $55.6m, although this was the only segment to experience a decline.

Read the full story on iGB North America

March 17, 2023

Spain: Sports betting drives 80% YoY revenue growth

Gross gambling revenue (GGR) in Spain increased by 78.2% year-on-year during the fourth quarter of 2022, driven by growth within the sports betting segment.

For the three-month period, GGR amounted to €313.3m (£274.7m/$334.2m), which was also 27.1% higher than €240.8m in the third quarter of 2022, according to figures published by Spanish regulator Directorate General for the Regulation of Gambling (DGOJ).

Breaking this down, sports betting GGR amounted to €141.4m, a 223.4% increase on the previous year (52.8% up quarter-on-quarter) and representing 45.1% of all GGR generated during the quarter.

The DGOJ noted a 108.5% quarter-on-quarter jump in pre-match bets and a 13.8% increase in in-play wagers, while other bettings were up 86.8% and horse betting 63.6%.

Turning to casino and GGR was 32.4% higher at €142.3m, up 32.4% year-on-year and 11.1% higher than in Q3. The sector accounted for 45.4% of total GGR in Q4, marginally ahead of sports betting.

Slots GGR was 27.3% higher than ..

March 15, 2023

US growth drives 30% revenue rise in Sportradar FY22

Sportradar reported a 30% rise in revenue from €561.2m (£490.1m/$591.2m) in 2021 to €730.2m in its full-year 2022 financial report, driven by 78% growth in the US, as well as 26% growth from its international operations.

The company’s reported revenue beat its annual projected outlook range of €718m to €723m. US revenue stood at €127m for the year, as opposed to the €71.7m the business reported in 2021. This compares with the 25.8% rise in its international betting segment which grew from €309.4m to €389.1m from 2021 to 2022.

From this revenue, the business announced adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of €125.8m, a 23% increase from the €102.0m the company achieved in 2021.

The business hailed the strong results across all its key performance metrics. CEO Carsten Koerl said he was “very pleased” with the company’s results, driven by what he described as “exceptional execution”.

“We saw excellent performance across all of our key perfo..

March 15, 2023

OPAP selects OpenBet to power online sportsbook

Sports betting solutions provider OpenBet has agreed a long-term deal to power the online sportsbook of Greek gambling group OPAP.

Under the agreement, OpenBet will deliver its full suite of betting technology, trading and sports content to OPAP via SportCast.

The deal marks OpenBet’s first partnership in the Greek market and its tenth with a member of the World Lottery Association (WLA).

OPAP, which is due to publish 2022 financial year results later today (15 March), operates as part of the Allwyn Group.

“At OPAP, we always look to offer our customers the highest quality of innovative and entertaining gaming products,” OPAP chief executive, Jan Karas, said. “Therefore, we are very pleased to be partnering with OpenBet and we are looking forward to leveraging their expertise and high-end technology solutions, in order to upgrade customer experience and take our online sports betting activities to new levels.”

OpenBet group chief executive Jordan Levin added: “We’re delighted to h..

March 14, 2023

Arizona sports wagering handle reaches $572.5m in December

Consumers in Arizona spent $572.5m betting on sports in December of 2022, a year-on-year increase of 14.7%.

The monthly figure was comfortably higher than the $499.2m bet during the same month in 2021, but 7.2% behind the $616.9m wagered in November 2022.

Mobile betting accounted for $566.5m of all bets placed in December, while a further $5.0m was spent at retail sportsbooks in the state.

Read the full story on iGB North America

March 14, 2023

New York mobile sports betting handle declines in February

Mobile sports betting handle in New York fell year-on-year in February, while both spending and revenue were also lower than the record figures posted in January.

Consumer spending on sports betting in February amounted to $1.47bn, down 3.9% from $1.54bn in the same month last year and also 17.9% behind the record $1.79n wagered in January 2023.

In terms of gross gaming revenue from mobile betting, this reached $108.3m in February, a 31.4% increase from $82.4m last year but 27.5% shy of the record $149.4m generated in January of this year.

Read the full story on iGB North America

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Tag: Online sports betting