Retail sports betting Archives

October 26, 2023

Louisiana sportsbooks take record $43.1m in revenue during September

Sports betting revenue in Louisiana reached an all-time high of $43.1m in September, while the state fell just short of its monthly handle record.

Combined online and retail gross revenue was 37.7% ahead of $31.3m in September of last year. The figure also comfortably surpassed the previous Louisiana record of $37.2m set in December 2022.

Of this total, $36.0m came from online betting and $5.7m from retail wagering in Louisiana.

In terms of adjusted revenue, which discounted promotional betting, revenue was $41.8m. This was 34.0% ahead of September 2022.

Louisiana September handle narrowly misses record

Turning to consumer spending, total handle for September stood at $280.1m. This was 37.4% ahead of $203.8m in 2022 and only just behind the record $282.3m wagered in January this year.

Players bet $248.8m on sports online and a further $31.4m at retail sportsbooks across the state of Louisiana.

Breaking down performance by sport, football was the most lucrative for operators, dra..

October 26, 2023

US Supreme Court denies West Flagler’s motion to stay

The US Supreme Court has denied West Flagler Associates' motion for a stay, giving hope to Florida's Seminole tribe for a sports betting relaunch in the Sunshine State.

Chief Justice John Roberts denied the motion to stay yesterday (25 October), which was described by the official Supreme Court blog as an “emergency application for stay”.

Brett Kavanaugh, Associate Justice of the Supreme Court, said in a statement that he agreed with the court’s decision.

“I agree that the stay application should be denied in light of the DC Circuit’s pronouncement that the compact between Florida and the Seminole tribe authorises the tribe to conduct only on-reservation gaming operations and not off-reservation gaming operations,” he said.

“If the compact authorised the tribe to conduct off-reservation gaming operations, either directly or by deeming off-reservation gaming operations to somehow be on-reservation, then the compact would likely violate the Indian Gaming Regulatory Act, as..

October 25, 2023

BetMGM seals Sportradar NBA tracking data deal

BetMGM will have access to products and services supported by NBA optical tracking data under an expanded partnership with Sportradar.

BetMGM will use the products to expand its in-play betting markets and its prop and parlay offerings.

Sportradar’s partnership with the NBA gives it access to player tracking data from the start of the 2023-24 season. The new NBA campaign got underway yesterday (24 October). Sportradar also exclusively provides NBA data worldwide and distributes live coverage of the league to sports betting operators globally .

Sportradar chief commercial officer Eduard Blonk said the BetMGM deal will support “the return-on-investment of our partnership with the NBA”.

“We’re pleased our value-add products and services will unlock the potential of NBA optical tracking data for BetMGM,” he said.

The NBA’s agreement with Sportradar was initially announced in 2021. As part of the deal, the league secured an equity stake in the data provider.

Jarrod Schwarz, chief prod..

October 25, 2023

Arizona sports betting spend surpasses $358m in August

Consumers in Arizona spent more than $358.0m betting on sports in August, while operators in the state posted more than $30.0m in total revenue.

Total spend in Arizona amounted to $358.9m. This was marginally lower than the $361.0m bet in August 2022 but 11.1% ahead of $323.2m in July this year.

Arizona bettors wagered $354.6m betting on sports online and a further $3.4m at retail locations across the state.

Player winnings stood at $327.2m, resulting in $30.9m in adjusted gross event wagering receipts before free bets. The latter is 10.7% lower than in August last year and includes $30.2m from online betting and $606,731 retail.

Free bets exceed $9.4m in Arizona in August

Reporting the figure, the Arizona Department of Gaming also noted the impact of free bets and promotional credits. These hit $9.5m in August, compared to $8.5m in the same month last year, with almost all coming from online betting.

When taking these free bets off, adjusted gross event wagering receipts reached..

October 25, 2023

Michigan: online casino jump offsets sports betting dip in September

Online gambling revenue in Michigan increased year-on-year during September, with growth in internet casino offsetting a decline in the sports betting segment.

Gross internet gaming and sports betting receipts from commercial and tribal operators hit $210.4m in September. This is 19.2% higher than $176.5m in Michigan last year and also 20.0% ahead of $175.4m in August this year.

Online casino remains the primary source of igaming revenue in Michigan. Gross receipts in this segment amounted to $166.4m, up 29.3% on last year.

In contrast, sports betting gross receipts slipped 8.0% to $44.0m for the month. This is despite handle increasing by 25.6% to $457.7m.

Michigan adjusted gross gaming receipts exceed $168m in September

When accounting for promotional spending, adjusted gross receipts from igaming and sports betting combined was $168.5m. This is 17.8% more than September 2022 and 10.1% ahead of August this year.

Online casino adjusted gross receipts in Michigan in September rea..

October 19, 2023

Netherlands’ NGR up 85% in 2022

The Netherlands' licensed gaming market generated €3.4bn (£2.95bn/$3.59bn) in net gaming revenue (NGR) in 2022, according to a report from regulator Kansspelautoriteit (KSA).

The report is based on 2022 only, as it was the first full calendar year for the Netherlands’ online gambling market.

The country’s market officially opened in October 2021, following the passage and ratification of the much-delayed Remote Gambling Act (KOA). This month marks two years since the market became live. NGR comprises of deposits minus prizes paid out.

NGR for 2022 was up by 85.0% from €2.0bn in 2021. KSA noted that this was due to an increase in both online gambling and land-based play, particularly as Covid-19 pandemic restrictions lifted. Land-based venues were closed in the Netherlands until 25 January 2022, with restrictions still applying until 25 February 2022.

Spending on gambling and advertising

Online casino was one of the Netherlands’ smaller markets in 2022, behind lotteries and l..

October 19, 2023

Mississippi sports betting handle surpasses $50m in September

Players in Mississippi spent more than $50.0m betting on sports in September, with the state reporting a year-on-year increase in handle.

Total sports betting handle in September reached $51.6m, up 19.7% from $43.1m in Mississippi last year. The monthly figure was also 141.1% ahead of $21.4m in August this year.

As for revenue, this amounted to $8.1m, a decline of 8.0% from $8.8m in September 2022. However, the total was 200.0% higher than the $2.7m generated in August.

Coastal casinos the place to be for sports betting in Mississippi

Consumers again favoured sports betting at coastal casinos in Mississippi. These venues took a total of $33.5m in sports wagers and posted $5.8m in revenue.

Meanwhile, central casinos processed $12.3m in sports bets and reported revenue of $1.7m. In addition, players spent $5.8m betting on sports at northern casinos, with revenue at these venues reaching $698,827.

In terms of what players were betting on in September, football was the sport of choic..

October 17, 2023

G2E 2023: Like Covid never happened

The dog days of the pandemic feel long in the past and the gaming industry was in a bullish mood at G2E 2023, Buck Wargo writes. Despite potential economic headwinds, international expansion and high hopes for igaming mean many left Las Vegas with the sense the industry is in good health.

It was like the pandemic never happened.

The Global Gaming Expo returned to Las Vegas last week, upbeat and optimistic about igaming’s future.

The industry faces headwinds in the coming months from the US economy and a potential Culinary Union strike in Las Vegas, but attendees at the show remained positive.

G2E attracted more than 25,000 people over its four days, just shy of 2019’s record 27,000 turnout. Attendance continued to bounce back after 2020’s cancelled event and a 2021 edition that drew only 13,000 delegates.

A greater return of international visitors and exhibitors – more than 125 countries were represented – helped boost attendance numbers. There were 368 exhibitors, up from 350 a y..

October 17, 2023

New Jersey gambling revenue up 7.5% in September despite land-based dip

Gambling revenue in New Jersey increased by 7.5% year-on-year, to $521.5m in September, despite a fall in land-based casino revenue.

Total revenue was comfortably higher than $485.0m in September 2022. However, the figure was slightly lower than the $531.6m generated in New Jersey in August this year.

Land-based casino gambling remains the main source of revenue in New Jersey despite the yearly decline. Revenue for this segment hit $246.5m, down 2.1% from $251.7m last year.

Some $182.7m of all land-based gambling revenue came from slot machine games, a drop of 2.0%. Table games generated 63.8%, down 2.2% from September last year.

Igaming revenue tops $164m in September

Turning to igaming, this area of the market experienced the most growth in September. For the month, revenue amounted to $163.8m, an increase of 21.1% from last year’s $135.2m.

Online slots drew $161.4m in revenue, up 21.4% from the previous year. The other $2.4m was generated from peer-to-peer poker games in New J..

October 17, 2023

Massachusetts: DraftKings takes record $290m sports bets in September

DraftKings processed a record $290.1m in online sports bets in Massachusetts during September, while the state reported a month-on-month rise in total betting handle.

Overall sports betting hit $512.2m in September, up 62.7% from $314.9m in August. It is also the second highest monthly total since Massachusetts launched legal online wagering in March.

Online betting accounted for $499.7m of total wagering, while a further $12.4m was spent at retail sportsbooks.

Sports betting revenue just shy of $50m

An increase in spending in September also led to a rise in taxable sports betting revenue.

During the month, operators generated a total of $49.8m in wagering revenue, up 119.4% from $22.7m in August. Of this total, $49.0m came from online betting and $783,017 retail wagering.

Again, this was the second highest amount since the legal online betting market opened. Only May’s $59.4m is higher than the total generated in September.

DraftKings running away with Massachusetts online spor..

October 16, 2023

Betfred launches Maryland sportsbook with Long Shot’s

Sports betting operator Betfred has expanded its retail reach into Maryland after rolling out a new land-based sportsbook in the state in partnership with Long Shot’s.

The Betfred Sportsbook is now open at Long Shot’s, an off-track betting location in the Capital Region of Maryland.

The new sports betting facility features an 80-panel television wall and 12 self-service kiosks. Players can place cash bets at the betting counter, as well as deposit and withdraw from their Betfred online account.

Betfred only secured a licence in Maryland in February of this year. However, its course to launch in the state was plotted well in advance of this, with details of the Long Shot’s link-up revealed in July 2022.

Maryland legalised sports betting in December 2021 with retail launching first. Regulated online sports wagering did not launch until November last year.

“Our commitment to enhancing the sports betting experience remains unwavering,” Betfred USA CEO Kresimir Spajic said. “The effort..

October 13, 2023

Kansas smashes sports betting handle record in September

Consumers in Kansas spent a total of $219.3m on sports betting during September, a new monthly record for the US state.

Kansas opened its legal sports betting market in September last year. Players bet $160.5m in the opening month, with this year’s figure 36.6% ahead year-on-year.

The September 2023 figure was also up 132.3% from $94.4m in August this year. In addition, it surpassed the previous record of $206.3m set in March this year by 6.3%.

Some $201.1m of all bets placed in September were done so online, while $18.2m was spent at retail sportsbooks.

As for revenue, this amounted to $8.1m in September. Revenue was up 523.1% from $1.3m in the same month last year and 68.8% ahead of $4.8m in August.

Online sports betting accounted for $7.6m of all revenue for the month, with retail’s share at $459,336.

Boot Hill Casino and DraftKings retain the lead in Kansas

Breaking down monthly performance, Boot Hill Casino and partner DraftKings continue to lead the online market. The par..

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Tag: Retail sports betting