Online sports betting Archives

July 8, 2022

Betfred partners Long Shot’s for Maryland sports betting launch

Betfred's sports arm, BetFred Sports, has agreed a market access deal in Maryland with off-track betting facility and restaurant Long Shot’s of Frederick.

Under the agreement, Betfred will offer both retail and online sports betting in the state.

A temporary retail sportsbook will open adjacent to the Maryland Jockey Club’s off-track betting within Long Shot’s for the 2022 National Football League season. Due to open in September, the facility will include in-person betting windows and self-serve betting kiosks.

A permanent sportsbook site with a video wall, theatre-style seating and food and beverage facilities is scheduled to open early next year.

Betfred also intends to roll out online sports betting in the state, though remains subject to final regulatory approval.

Maryland Governor Larry Hogan signed a bill to legalise both online and retail sports betting in Maryland last year, after voters approved sports betting through a November 2020 referendum.

However, while reta..

July 8, 2022

RSI launches RushBet online casino and sportsbook in Mexico

Rush Street Interactive (RSI) has announced the launch of its RushBet online casino and sportsbook in Mexico in partnership with media conglomerate Grupo Multimedios.

Under the 25-year agreement, RSI will operate both its online casino and sportsbook across the country, utilising an online gambling licence held by a subsidiary of Mexico-based Grupo Multimedios.

The new partnership will also enable RSI to leverage Grupo Multimedios’ media assets and distribution channels for promotional and content integration.

The RushBet.mx website and accompanying RushBet mobile application will allow players over the age of 18 in Mexico to access a selection of online casino games including more than 350 slots and table games.

Players will also be able to place bets on a wide range of leading sporting events such as the Mexican Liga MX top division of club football, as well as North America’s National Football League, Major League Baseball and National Basketball Association.

RSI was the first..

July 8, 2022

Entain shares slide amid concerns online slowdown continues into 2023

Entain’s share price dropped by more than 10% this morning, amid concerns its slowing online performance may continue through the rest of the year and beyond, before a rebound late in the day.

The business reported an 18% year-on-year increase in net gaming revenue for the first half of the year.

However, online revenue was down 7% year-on-year.

Entain said this was due to a weaker macroeconomic environment, leading to customers spending on average 5% less during the period than they had the year before.

“As a business, we are relatively resilient to cyclical macroeconomic effects,” chief executive Jette Nygaard-Andersen said. “However, no business is completely immune.

“We’ve seen some moderation in the rate of spend by customers, resulting in lower underlying growth across many of our markets versus our expectations earlier in the year.”

Chief financial officer Rob Wood noted that online revenue was “ultimately behind our expectations from earlier in the year, due to a couple ..

July 7, 2022

Arizona sports betting handle hits $512.9m in April

Players in Arizona spent $512.9m (£429.3m/€502.8m) on sports betting during April, while gross revenue for the month reached $29.2m.

The state’s handle was the second-highest monthly total since the launch of legal wagering, 25.8% behind the record $691.0m that was wagered in March of this year.

Consumers bet $509.5m online during the month, while the remaining $3.3m was spent at retail sportsbook locations.

Players won $482.4m from sports betting in April, which left $29.2m in gross revenue, 21.5% lower than the $37.2m figure in March.

After including $12.7m worth of free bets and promotional credits, taxable revenue for the month was $16.5m, down 11.8% from the previous month

The state was also able to collect $1.6m in tax from sports betting during April.

DraftKings again processed the most wagers during March, taking $155.9m in online bets, marginally ahead of FanDuel with $152.5m in combined online and retail wagers. BetMGM followed with $100.6m in online bets.

In terms of ..

July 7, 2022

Portuguese online gambling revenue jumps 23.6% YoY in Q1

Portuguese regulator Serviço Regulação e Inspeção de Jogos do Turismo de Portugal (SRIJ) reported a 23.6% year-on-year increase in online gambling revenue for the first quarter of 2022.

Revenue for the three months to the end of March was €158.6m (£135.3m/$161.7m), up from €128.3m in the corresponding period last year.

Online casino revenue for the quarter amounted to €80.9m, which was 37.6% higher than €58.8m in Q1 of 2021, while online sports betting revenue also increased 11.8% to €77.7m.

Looking at player spending, consumers wagered a total of €2.21bn on online casino during the three-month period, up 37.3% year-on-year, though online sports bets were down by 12.8% to €369.4m.

Breaking down player gambling habits, of the total amount wagered in online casino, 78.1% was on slot games, with 8.8% on French roulette and 5.1% on blackjack.

In terms of sports betting, 69.9% of all online bets placed were on football, with 12.4% each on basketball and tennis, and the remaining 5.3% ..

July 6, 2022

Playmaker Capital acquires World Soccer Talk

Affiliate business Playmaker Capital has acquired US-based soccer media company World Soccer Talk.

Playmaker announced the news in a press release in which it focused on the rising popularity of soccer in North America, emphasising its place as the now the fourth most popular sport in the country after American football, basketball, and baseball.

Playmaker CEO Jordan Gnat commented on the deal: “Soccer is on the rise in the US and Canada, and Playmaker is focused on becoming the preeminent voice for the sport across the Americas, from the top of Canada to the bottom of Argentina.”

“World Soccer Talk founder, Christopher Harris, exudes a true passion for sport that’s shared by the entire Playmaker team, and we’re excited to welcome him and World Soccer Talk into our family and our ecosystem as a core piece of a broader soccer strategy in advance of World Cups 2022, 2023 and 2026.”

World Soccer Talk web, social media and podcast assets will join Playmaker’s existing portfolio of digi..

July 5, 2022

VBet partners with OGC Nice

BetConstruct-operated sports betting and gaming brand VBet has announced a new sponsorship deal with French football club OGC Nice.

The club will be the latest French football team to make a deal with operator, following the announcement of similar deals with AS Monaco in 2020 and Paris FC the previous March. VBet branding will feature on the club’s shorts through to 2025, as well as prominently on its digital platforms.

In return, VBet will broadcast exclusive content for its partner as well as organise events and competitions to win match tickets – in addition to offering other digital content throughout the season.

VBet France president David Ozararat commented on the deal: “Aside from the symbolism of teaming up with the city where I was born and grew up, I’m very happy VBet is becoming one of the official partners of OGC Nice alongside its shareholder INEOS. Today, the club’s potential is at the highest possible level and the ambitions of its president are aligned with our bus..

July 5, 2022

Romanian government publishes plan for 40% tax on withdrawals

The Romanian government has published the country’s new draft Fiscal Code, featuring a tax hike on gambling withdrawals to as much as 40%.

The new code was published by the Ministry of Finance, and contains updates to the country’s tax laws.

Previously, gambling withdrawals in Romania of less than RON66,750 (£11,579/€13,493/$13,980) were taxed at 1%, while withdrawals of up to RON445,000 faced a 16% tax – plus an additional payment of RON667.50 and withdrawals beyond that total were taxed at 25%.

However, now withdrawals of up to RON3,000 will be taxed at 10%. Withdrawals of more than RON3,000 but no more than RON10,000 are taxed at 20%, plus a RON3000 fee. Beyond RON10,000, the tax rate will be 40%, plus a RON1,700 fee.

The tax will be applied with each withdrawal.

When the tax hike was first reported, trade body the Association of Remote Gambling Organisations (AOJND) said that it would push players towards illegal operators.

It estimated that – if the tax comes into effect – ..

July 4, 2022

Rhode Island sports betting revenue slips to $2.3m in May

Revenue from sports betting in Rhode Island slipped to a year-low of $2.3m (£1.9m/€2.2m) in May, though the state’s handle was up month-on-month.

Player spending for the month reached $41.1m, up 45.2% from $28.3m in May of 2021 and also 2.2% higher than $40.2m in April this year.

Of this total, $25.3m was spent online, while the other $15.8m was bet at retail sportsbooks at the Twin River and Tiverton Casino locations.

Revenue was down 14.8% year-on-year from $2.7m in May last year and 11.5% lower than $2.6m in April of this year. The monthly figure was also the lowest total since $1.2m was posted in December 2021.

Some $1.9m of total revenue was attributed to online betting, with the remaining $461,059 being retail revenue split across Twin River and Tiverton Casino.

Of the two casinos, Tiverton Casino came out on top with $404,515 in revenue from $5.3m in player bets, ahead of Twin River with just $56,544 in revenue, but almost double the size handle of $10.5m.

Last week, it wa..

July 4, 2022

Bally’s approved to launch BallyBet in Ontario

Bally’s has been approved for an internet gaming licence from the Alcohol and Gaming Commission of Ontario (AGCO).

The licence was approved on 30 June and will last for two years, expiring on 29 June 2024.

It covers fourdomain names – ballybet.ca, ballycasino.ca, ballysbet.ca and ballyscasino.ca, as well as the BallyBet mobile app.

Bally’s is one of the most recent operators to receive a licence to operate in the province, joining the likes of PokerStars, SkillOnNet and BetVictor.

Ontario’s regulated igaming market launched in April three years after Ontario announced plans to end the lottery’s online gambling monopoly on the province.

Operators such as theScore, PointsBet and Bet365 were approved for licences before the market opened.

July 4, 2022

SBM sells Betclic stake to FL Entertainment ahead of SPAC deal

Monte-Carlo SBM International S.à.rl (SBM) has transferred its entire 47.3% stake in French online gambling business Betclic Everest to newly created media and betting business FL Entertainment, as FL prepares to go public.

The news follows a press release on 11 May announcing the creation of the new entity, FL Entertainment, as part of a special-purpose acquisition company (SPAC) merger.

FL Entertainment will itself soon combine with Pegasus Entrepreneurial Acquisition Company Europe, which is already listed on Euronext Amsterdam.

FL will be made up of Betclic Everest and television production company Banijay, which will make up the majority of the business by revenue.

The new company is predicted to have an enterprise value of €7.2bn (£6.2bn/$7.5bn), as well as generate revenue of €3.5bn and adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of €609m.

SBM will have an interest in new company, holding 4.95% of the voting rights and 10.39% of the effect..

July 4, 2022

Colorado sports betting handle slips to year-low $360.3m in May

Consumers in Colorado wagered $360.3m (£297.8m/€345.4m) on sports during May, the lowest monthly total of the calendar year so far.

Player spending was 44.7% higher than $249.0m in May of last year, but 8.2% down from $392.3m in April this year.

Bettors wagered a total of $356.8m on sports online during May, while the remaining $3.5m was spent at retail sportsbook facilities across the state.

Turning to gross gaming revenue and this amounted to $27.1m for May, up 78.3% from $15.2m in the same month in 2021 and also 19.9% higher than $22.6 in April this year.

Some $26.7m of this total was attributed to online betting, with just $267,458 coming from retail sportsbooks.

Basketball proved to be the most popular sport among players, drawing $102.0m in total bets, followed by baseball on $91.0m, ice hockey at $35.7m and tennis with $20.3m. Consumers also wagered $63.1m in parlay betting during the month.

The state collected $1.7m in sports betting taxes during the month, while win perc..

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Tag: Online sports betting