Online sports betting Archives

August 15, 2022

NeoGames’ BtoBet enters Ethiopia with UtopBet

BtoBet, the sports betting supplier subsidiary of online lottery platform provider NeoGames, has expanded into Ethiopia after entering into a partnership with UtopBet.

Under the deal, BtoBet will provide its proprietary sportsbook platform and other sports betting services, including risk management, to UtopBet in the East African country.

The Ethiopian online and retail sports betting operator will offer betting on both local and international sports events, while it will also add esports betting to its offering for the first time.

BtoBet’s deal with the UtopBet brand means the supplier has a presence in 28 different jurisdictions around the world.

“We are pleased to further strengthen our presence in Africa, by going live in the highly competitive Ethiopian market,” NeoGames’ chief executive Moti Malul said. “UtopBet is one of the more well-known brands in the local market and I am pleased that the choice to power their retail and online channels fell on our flexible solutions an..

August 12, 2022

Flutter CEO: we are well-placed to “capitalise” on UK reforms

Flutter chief executive Peter Jackson said that he expects his business to ultimately be a winner from the results of the UK Gambling Act review, as Flutter’s scale will help it navigate changes while smaller businesses may exit the market.

The comments came during Flutter’s earnings call for the first half of 2022, following results in which the business revealed that its FanDuel brand had turned a profit during Q2.

Jackson (pictured) argued that in both the UK and Australia, Flutter’s businesses had “outgrown regulations”.

He discussed the introduction of point-of-consumption taxes in these markets as an example of a regulatory challenge that had a short-term negative impact, but made Flutter brands stronger in the long term.

“Our scale and operating leverage have allowed us to mitigate the impacts, both through operational efficiencies, and also through market share gains as smaller operators were required to exit from the market.”

In the presentation, Flutter also noted that ..

August 12, 2022

The winners have taken it all

iGB op-ed: Daniel O’Boyle argues that market shares within US sports betting have already shaken out four years on from PASPA’s repeal, with little room for rankings to change or new players to emerge.

It’s become a popular observation that at some point – likely in the late 2000s – much of Western popular culture became “stuck”.

If you watch a film or television show set in 1980 and 1990, it would be obvious which is which, with the fashion, technologies and soundtrack. But something set in 2010 would look an awful lot like today. Rather than something new, we’ve spent much of the last decade and a half chasing nostalgia.

In US sports betting, there’s no doubt that there will continue to be innovation: products will vastly improve and new ways of betting will emerge.

But in terms of market share and which brands matter, we may have reached the point where we’re stuck.

The leaders emerge

In fact, we got most of the way there before PASPA was even repealed: FanDuel and DraftKing..

August 11, 2022

Entain to buy SuperSport, prepares for wave of Eastern Europe acquisitions

Online giant Entain has agreed to acquire a 75% stake in Croatian market leader SuperSport for €690m, in what it expects to be the first of many acquisitions in Central and Eastern Europe.

Entain will partner with Czech investment firm EMMA Capital to create a new venture named Entain CEE, in which Entain will own a 75% stake.

This new business – intended to make acquisitions in Central and Eastern Europe – will then acquire SuperSport, which is the largest betting and gaming brand in Croatia.

While Entain cited SuperSport’s 54% market share as one reason for doing the deal, it also suggested that the deal will just be the start of a flurry of M&A activity targeting Central and Eastern Europe.

The Entain board said the business would create “an exciting platform” in this region, led by SuperSport CEO Radim Haluza.

“The combination of Entain’s global scale, access to capital and content, EMMA’s regional knowledge and connectivity, alongside the expert local operational knowledge o..

August 10, 2022

Better Collective scores sports betting content deal with Sport1

Affiliate giant Better Collective has entered into a sports betting content partnership with German multi-channel sports platform Sport1.

The partnership will launch this month and be co-branded with Wettbasis, a Better Collective brand and part of the group that will provide all content to the Sport1.de website.

Better Collective said that the new deal gives the group an additional marketing channel to operate, market and manage customer contacts to betting operators in the German market.

“We look forward to getting started and I know that my colleagues at Wettbasis.com are working hard to be ready with appealing and engaging content for the Bundesliga season and in good time for the World Cup in football that is coming up in November,” Better Collective co-founder and chief executive Jesper Søgaard said.

Sport1 managing director Matthias Kirschenhofer added: “We are thrilled to partner with Better Collective as the premier international sports betting media group for a completely..

August 10, 2022

Predictions, exchanges and the rise of political betting

Operators have long dismissed political betting as at most a PR loss-leader – but is the calculus changing? iGB spoke to Smarkets head of political markets Matthew Shaddick to hear about the shifting landscape.

When political betting goes wrong, it really goes wrong. In the 2020 US presidential election, with conspiracies spreading from the White House to the message board, protests began assembling outside state houses and ballot-counting venues throughout the critical states of Pennsylvania, Michigan and Wisconsin, where the race was agonisingly close. It was the first stirrings of what was to become the so-called “Stop the Steal” movement – the last-ditch organisational effort to save the Trump presidency.

It was also the beginning of what is often known as the “shenanigans” – the weaponisation of an array of legal and legislative tools to muddy the water and frustrate democratic majorities; a catalogue of failed dirty tricks that culminated with the insurrection at the United St..

August 9, 2022

BetMGM becomes official partner of NFL in Canada

Entain-MGM joint venture BetMGM has agreed a deal that will make it an official sportsbook partner of the National Football League (NFL) in Canada.

The deal comes ahead of the first NFL season since the Canadian province of Ontario opened its regulated betting and igaming markets. BetMGM was one of the first operators to launch, receiving its licence when the market opened on 4 April.

“Expanding our partnership with the NFL into Canada sets the stage for amazing opportunities as we begin the upcoming football season,” said BetMGM chief executive Adam Greenblatt. “We’re already seeing great interest from our Ontario customers and this collaboration truly elevates the BetMGM experience.”

Read the full story on iGB North America

August 9, 2022

The killer quartet of sportsbook performance

As sportsbooks in North America move from acquisition to retention, sportsbook performance has become more important than ever. But what does performance actually mean? Russell Karp of DataArt outlines the four key factors.

The promise presented by sports betting in North America has created severe competition. Beyond big casino and media giants like Disney, we see retail companies – such as Fanatics – trying to actively take their place in the market. New York sportsbooks alone brought $425 million in gross revenue in the first four months of 2022.

However, in a rush to be the first to attain licences and launch, operators often neglect the quality of their platforms. Early in 2022, when thousands of bettors flooded the freshly opened sportsbooks in New York, we saw betting platforms that were glitchy: a direct result of poor development. Bettors experienced technical issues such as login errors, the inability to place a bet or cash out, and more.

For example, Caesars faced a mas..

August 8, 2022

Novibet makes progress towards launches in NJ, Mexico and Ontario

Novibet has announced three major milestones in North America, securing market access in New Jersey and Mexico, while also submitting a licence application in Ontario.

In New Jersey, the operator has secured market access through a partnership with Caesars Entertainment – which, as a land-based operator, can offer three online betting “skins”.

Under the agreement, Novibet will be able to offer its services via Caesars’ licence for ten years.

Novibet already has market access in the state of Pennsylvania, also for 10 years, and plans to launch in both sites next year.

Elsewhere, the operator also secured market access in Mexico through a partnership with Big Bola Casinos, a major land-based operator in the country. It plans to launch in the country before the end of this year.

Finally, the operator has submitted its licence application in the Canadian province of Ontario. If approved, it plans to launch in Ontario in the fourth quarter of this year.

“The expansion of our icasino ..

August 8, 2022

Massachusetts commissioners: legal betting is “going to take some time”

Massachusetts gaming commissioners have warned that the launch of legal sports betting in the state may take longer than expected, as they prepare to create rules for the vertical.

The state legislature passed a bill to permit sports betting last week, in the final hours of the year’s legislative session, ending months of deadlock after the House and Senate had each passed their own bills with major differences between the two.

Under this bill, any operator of a land-based casino or racetrack in the state may receive a licence, and there will be an additional 7 online-only licences. All of these will carry a $5m licence fee.

Betting on college sports will be permitted, with the exception of matches involving in-state teams. Online betting will be taxed at 20% and retail at 15%.

Read the full story on iGB North America

August 8, 2022

NY online betting handle drops below $1bn for first time in July

New York’s online sports betting handle fell to an all-time low in July, falling below $1bn (£827.6m/€982.4m) for the first time since the US state opened its regulated market in January this year.

Players spent a total of $800.8m wagering on sports during the month, down 23.8% from $1.05bn in June, which was incidentally also the state’s previous lowest monthly amount.

Gross gaming revenue from mobile sports betting climbed marginally by 1.2% from $72.4m to $73.3m, making July the second-lowest month for revenue on record.

In terms of individual operators, Flutter Entertainment’s FanDuel Group retained top spot, posting $39.0m in revenue from $347.7m in players bets for the month.

DraftKings followed in second with $15.8m in revenue from a $213.5m handle, the Caesars Sportsbook with $8.7m and a $118.2m handle.

BetMGM generated $6.3m in revenue and processed $73.2m in total wagers during July, while PointsBet posted $1.7m in revenue and a $16.5m handle. Rush Steet Interactive was ..

August 5, 2022

RSI still on track for long-term earnings goals despite higher Q2 losses

Rush Street Interactive (RSI) said it still expects to achieve its longer-term earnings targets despite posting an increased net loss and negative adjusted earnings before interest, tax, depreciation and amortization (EBITDA) during the second quarter and first half.

Speaking after the business published its results for the two operating periods, RSI’s chief executive Richard Schwartz said that the operator continues to move towards becoming profitable.

Schwartz said RSI experienced profit across six of its markets during the second quarter of its 2022 financial year, with the states of New Jersey, Pennsylvania, Illinois and Michigan, along with Colombia in South America, being profitable in the quarter. In addition, West Virginia also turned profitable after only four full quarters of operation in the state.

“We are continuing to build a global business,” Schwartz said “With the recent launches in Ontario in Canada and Mexico, we are now live in a total of four countries. This give..

April 2025
Mon	Tue	Wed	Thu	Fri	Sat	Sun
	1	2	3	4	5	6
7	8	9	10	11	12	13
14	15	16	17	18	19	20
21	22	23	24	25	26	27
28	29	30

Tag: Online sports betting