Retail sports betting Archives

October 24, 2022

Arizona sports betting handle reaches $361.0m in August

Player spending on sports betting in Arizona jumped 24.3% month-on-month to $361.0m (£319.3m/€367.6m) in August, while revenue in the state also increased.

Sports wagering handle was ahead of $290.5m in July and also represented the second consecutive month of growth in the state. Some $359.2m was wagered online, with just $1.5m spent at retail sportsbooks.

Players won $323.8m from sports betting in August, leaving $36.3m in revenue for the month, up 65.0% from $22.0m in July.

After accounting for $8.5m in free bets and promotional credits, taxable revenue for the month was $27.8m, an increase of 85.3% from $27.8m in the previous month.

DraftKings led the market in terms of handle, processing $129.8m in bets, all of which were placed online. FanDuel was second with $109.7m in total bets, split $108.7m online and $1.0m at retail locations, then BetMGM on $58.2m in online wagers.

Turning to gross revenue and FanDuel narrowly claimed top spot with $11.7m. DraftKings was second with $..

October 24, 2022

Online slots boost German gambling tax revenue to €596.1m in Q3

German gambling tax revenue came to €596.1m in the third quarter of 2022, a year-on-year increase driven mostly by growth of online slots.

The total German gambling tax take was up by 15.5% year-on-year.

Of this total, €123.2m came from online slots. This was up drastically from Q3 of 2021, when operators paid only €32.7m in taxes during the first quarter under Germany’s new Fourth State Treaty on Gambling.

As part of the new regime, online slot operators must pay 5.3% of stakes in taxes, which has been a major source of controversy.

Only a small number of operators were licensed to offer online slots in Germany in Q3, but a transition period is in place which means that operators will not face enforcement action as long as they keep to the rules of the State Treaty and pay gambling taxes.

Online poker tax income was €8.0m, slightly more than double the total from a year earlier. Like slots, online poker is also subject to a 5.3% tax on stakes, and – with no licensees yet – the en..

October 20, 2022

Mississippi reveals year-on-year sports betting handle decline in September

Player spending on sports betting in Mississippi fell 21.4% year-on-year during September, though revenue in the US state remained level.

Wagering handle for the month amounted to $43.1m (£38.3m/€44.0m), down from $54.8m in September 2021, but more than double the $21.2m spent by consumers in August of this year.

However, despite the decline in spending, revenue was level year-on-year at $8.8m, with this figure also 225.9% higher than $2.7m in August.

Coastal casinos remained the most popular venues to place bets on sports in Mississippi, with players wagering a total of $28.1m and the casinos turning a revenue of $5.5m.

Handle for central casinos was $8.2m, with revenue at $1.8m, while spending at northern casinos totalled $6.9m and revenue $1.6m.

Football overtook baseball to become the sport of choice among players, with $16.5m bet at coastal casinos, $3.1m at central casinos and $4.4m at northern casinos.

Win percentage for the month was 20.4%, an increase from 16.1% in Septe..

October 19, 2022

Sports betting growth drives PA gambling revenue up 7.9% in September

Gambling revenue in Pennsylvania increased by 7.9% year-on-year in September following a 77.7% jump in sports betting revenue.

Total gambling revenue for the month amounted to $448.5m (£399.5m/€459.1m), which was ahead of $415.7m in September 2021 and also 5.4% higher than $425.4m in August of this year.

Retail slots remained by far the main source of revenue for operators in Pennsylvania during September, though revenue from this area of the market fell 0.2% to $198.5m. Retail table games revenue was also down 2.9% to $81.6m.

However, these declines were more than offset by growth in almost all other sections of the state’s market, including sports betting where revenue rocketed from $28.3m in 2021 to $50.2m this year.

Of this total, $43.0m came from online wagering, with the remaining $7.3m generated at retail sportsbooks. Sports betting handle was also up 11.5% year-on-year to $645.2m.

Valley Forge Casino Resort and FanDuel moved into first place in the sports betting market in..

October 18, 2022

How is safer gambling promoted at retail betting shops?

Safer gambling week special: Online gambling has got much of the attention, but preventing harm in retail betting can be a difficult problem where technological solutions can be harder to implement. iGB looks at what safer gambling tools are available at betting shops.

To the average person in the UK, the most notable sign every year that it’s Safer Gambling Week would be from betting shops.

The industry’s initiatives during the week are wide-reaching, across both physical and online spaces.

But betting shops, despite a decline in numbers in recent years, are still on almost every high street in the country. And almost every one is plastered with signs encouraging people to think more about their gambling activity.

But inside those retail betting shops, what can be done to protect customers?

As pressure from the media and government around harmful gambling grows, the industry has attempted to show that it can deal with potential harm without needing strict interventions that could..

October 13, 2022

Nygaard-Andersen: Interest rates won’t stop Entain from acquiring

Entain chief executive Jette Nygaard-Andersen has said high interest rates will not stop the business from making new acquisitions, and may even “open up new doors”.

Nygaard-Andersen spoke on an earnings call after Entain published a third-quarter earnings update. Revenue was up 2% year-on-year for the group, thanks to both record customer numbers and a favourable impact from currency movements.

When asked whether the new macroeconomic environment and high interest rates would make acquisitions difficult due to the costs of borrowing money, Nygaard-Andersen said that this was not necessarily the case.

“We of course remain vigilant and very prudent,” she said. “But the health of the business remains good. We still have a strong pipeline on M&A and we have opportunities that we will continue to pursue.”

The results came after a busy period of acquiring for the business, with Nygaard-Anderson noting the business agreed nine acquisitions in the past 18 months, including those of Unikrn..

October 11, 2022

BetMGM becomes Cincinnati Reds’ official sports betting partner

BetMGM has become an official sports betting sponsor of the Cincinnati Reds baseball team.

The sponsorship precedes the launch of legalised sports betting in Ohio, which will take place on 1 January 2023.

The bills that introduced sports betting in the state – Senate Bill 176 and House Bill 29 – were introduced in May 2021. Eventually, an evolved version of House Bill 29 made it to Ohio’s state House and Senate, where it was passed.

Read the full story on iGB North America

October 6, 2022

Entain to promote online betting brands at NSW hotels in new deal

Global gambling giant Entain has agreed a new deal with the Australian Hotels Association (AHA), allowing it to promote its online betting brands Neds and Ladbrokes at New South Wales hotels.

The agreement comes despite hotels in the state having an existing exclusivity deal with Tabcorp, the national totalisator board.

As a result, the deal will not involve any Entain wagering terminals, or hotel staff accepting or taking commission for bets. Instead, Ladbrokes and Neds will simply be advertised at these venues.

“For decades now, many NSW hotels have operated PubTABs for Tabcorp at a significant loss – primarily due to high Sky Channel and EBT (betting terminal) fees,” AHA NSW CEO John Whelan said. “In-country NSW it’s even worse, with the majority of country pubs currently running their PubTAB at a loss.

“Today’s partnership with a world leader in Entain will finally give NSW hotels competition and choice.”

An evolution?

Entertain Australia chief executive Dean Shannon said th..

October 4, 2022

Elys and Grand Central approved for second retail sportsbook in DC

Elys Game Technology has secured approval to open a second retail sportsbook location in Washington DC through an expanded partnership with the Grand Central Restaurant and Sportsbook.

The specific location of the new sportsbook has not yet been disclosed, while any opening remains subject to approval by the DC Department of Small & Local Business Development (DSLBD) and DC Office of Lottery and Gaming (DCOLG).

Elys and Grand Central opened their first joint sportsbook in DC exactly one year ago today (4 October), with the facility at Grand Central Restaurant and Sportsbook being the first at a bar not to be operated by the state lottery’s Gambet brand.

This came after Grand Central and Elys were issued a Class B operator licence by the DCOLG for the venture.

“We are extremely pleased with the strong performance of this first location in the Adams Morgan district of DC, as illustrated by the continuous growth in betting handle,” Elys executive chairman Michele Ciavarella said. “Giv..

October 4, 2022

Italy to raise betting taxes this month

Italy’s new legislative decree on sports betting – featuring a tax rise, but no new tax on turnover – is set to come into force on 28 October, having been published in the country’s official gazette.

Under Italy’s previous sports betting law, retail betting revenue was taxed at 18%, while online revenue was taxed at 22%. However, under these new rules, the tax on retail betting revenue was increased to 20%, while for online it will be 24%.
Previously, Italy had considered introducing an additional 1% turnover tax instead, but this plan was scrapped.

The law will also introduce a €1 minimum bet, while winnings for any fixed-odds bet will be capped at €50,000.

These new rules will come into force on 28 October, which will be 30 days after their publication in the Official Gazette. They will cover any fixed-odds bets on events other than horse racing, including non-sporting events approved by the Italian Customers and Monopoly Agency.

Italian sports betting in recent years has been he..

October 4, 2022

Italy avoids turnover tax on betting

Italy’s new legislative decree on sports betting – which will not contain the tax on turnover that had been proposed – is set to come into force on 28 October, having been published in the country’s official gazette.

Under these new rules, the tax on retail betting revenue will be 20%, while for online it will be 24%.
Previously, Italy had considered introducing an additional 1% turnover tax instead, but this plan was scrapped.

The law will also introduce a €1 minimum bet, while winnings for any fixed-odds bet will be capped at €50,000.

Italian sports betting in recent years has been heavily impacted by the introduction of a total marketing ban in 2019. This ban, referred to as the “dignity decree”, has bee..

September 30, 2022

RI sports betting bounces back in August as revenue hits five-month high

The Rhode Island Lottery reported year-on-year growth within the state’s sports betting market in August, while revenue reached its highest monthly total since March 2022.

Revenue for the month amounted to $3.0m, which was 172.7% higher than $1.1m in August of last year and also 3.5% up from $2.9m in July this year.

Of this total, $1.6m was attributed to online betting activity, while $1.4m came from retail sports betting via sportsbooks at the Twin River and Tiverton Casino land-based sites.

Twin River was the more successful of the two casinos, bringing in $866,413 in revenue for the month, while the Tiverton casino generated $504,225 from sports wagering.

In terms of handle, player spending in August reached $27.7m, up 15.4% from $24.0m in August 2021 and also 9.9% higher than $25.2m in July of this year.

Consumers spent $17.9m betting online during the month, as well as $9.9m at land-based sportsbooks. Twin River processed $6.1m in retail bets and the Tiverton Casino $3.8m.

F..

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Tag: Retail sports betting