Retail sports betting Archives

February 13, 2024

Indiana sets monthly revenue record of $53.5m for January

Indiana has recorded a total taxable adjusted gross revenue (AGR) of $53.5m (£42.4m/€49.7m) for January, beating the previous record of $50.6m set in December.

Indiana reported a total sports wagering handle of $480.3m for January, a 4.5% drop from the previous month’s total of $503.1m.

Of the handle, $269.9m was spent on parlays, with American football and basketball receiving $57.5m and $113.1m in bets respectively.

DraftKings and FanDuel battling it out in Indiana

draftkings and fanduel have been battling it out in indiana

Ameristar Casino and its DraftKings sportsbook was the leader for handle with $181.4m, accumulating a total AGR of $18.7m. FanDuel, meanwhile, came away with $23.3m in AGR despite taking less in bets than DraftKings with $160.1m.

Penn Entertainment-operated Hollywood Lawrenceburg took $39.4m in handle while Belterra Casino, another FanDuel partner, placed fourth with $36.6m.

Caesars, meanwhile, was fifth for handle with $32.1m at Harrah’s Hoosier Park, fin..

February 12, 2024

Barstool scores sports betting partnership with DraftKings

Barstool Sports has announced details of a new a multi-year sports betting partnership with DraftKings.

Under the agreement, DraftKings is now the official sports betting partner of Barstool. David Portnoy, the founder of Barstool, confirmed the news in a blog post shortly after Super Bowl LVIII ended last night (11 February).

The deal marks the second time that the two parties will be working together. DraftKings and Barstool were previously partnered on a marketing collaboration 10 years ago.

“I’m proud to announce Barstool has signed a multi-year monster deal with DraftKings,” Portnoy said. “We’re back to our roots. DraftKings is once again the exclusive sports betting partner of Barstool Sports. The more things change the more they stay the same.”

DraftKings is yet to comment on the announcement.

Barstool back with Portnoy

The deal comes just a few months after Portnoy took back the Barstool brand from Penn Entertainment. Penn purchased the brand in 2020 and was running spo..

February 12, 2024

New York breaks online sports betting revenue record again in January

New York set a new online sports betting record for the second consecutive month during January, with operators generating $211.5m (£167.5m/€196.1m).

The January total was 12.3% ahead of the previous record of $188.3m set in December of 2023. It was also 41.6% more than the $149.4m reported in New York in January last year.

In terms of handle, players wagered a total of $1.96bn during the month. This was 9.5% up from $1.79bn in January 2023 but 3.9% less than December’s $2.04bn. It was also 6.7% behind the record $2.10bn reported in November last year.

Players spent more than $2.0bn between october 2023 and december

However, January marked the end of a three-month run of New York players spending more than $2.00bn betting on sports online. The state first surpassed the $2.00bn milestone in October 2023.

FanDuel clinches monthly revenue record in January

Looking at individual operators, Flutter Entertainment’s FanDuel remains the frontrunner by some distance.

In January, FanDuel..

February 12, 2024

Iowa sports betting handle and revenue rise in January

Sports betting handle and revenue in Iowa both increased year-on-year in January but fell on a month-on-month basis from December.

Total consumer spending in Iowa during January was $259.5m (£205.4m/€240.5m). This is 11.1% ahead of $233.6m in January 2023 and but 8.2% behind $282.7m in December.

Some $238.4m was spent wagering on sports online, while the remaining £21.1m was bet at retail sportsbooks.

revenue dipped 8.2% compared to december 2023

As for revenue, this amounted to $22.1m in January. The figure is 33.9% clear of $16.5m in January last year but 16.0% short of December’s $26.3m haul.

Online wagering accounted for $20.5m of all monthly revenue in Iowa, with retail’s share at $1.5m.

FanDuel and Diamond Jo Dubuque remains Iowa frontrunners

In terms of individual operators, FanDuel and Diamond Jo Dubuque remain the leaders in Iowa by some distance. For January, the partnership generated $8.0m from $68.0m in bets.

DraftKings and partner Wild Rose Jefferson followed in a ..

February 7, 2024

Fanatics replaces PointsBet in Iowa

Fanatics Betting and Gaming (FBG) has announced the launch of its sportsbook in Iowa, replacing the PointsBet brand in the Hawkeye State.

Players in Iowa can now download and place bets on the Fanatics Sportsbook mobile app. Existing PointsBet customers’ usernames, passwords, account balances, rewards points and responsible gaming settings will automatically migrate to the Fanatics Sportsbook.

The existing PointsBet retail sportsbook at Catfish Bend Casino will also be rebranded as a Fanatics Sportsbook. This project will include installing new self-service betting kiosks from Suzohapp.

Iowa marks the 12th state for the Fanatics Sportsbook. It is also the latest phase of FBG phasing out the PointsBet brand across the US following its acquisition of PointsBet US in August 2023.

The Fanatics Sportsbook is also online in Colorado, Connecticut. Kentucky, Maryland, Massachusetts, Ohio, Pennsylvania, Tennessee, Vermont, Virginia and West Virginia. In addition, retail betting venues opera..

February 2, 2024

Colorado smashes monthly betting handle as $716.4m wagered in December

Players in Colorado wagered a record $716.4m (£565.8m/€663.3m) on sports in December, beating the previous monthly high by more than $100.0m.

The December handle beat the existing record of $608.5m in November 2023 by 17.7%. It was also 38.3% higher than the $518.1m bet in Colorado in December of the previous year.

Some $712.0m of all wagers placed in December were via the internet. Retail venues took just $4.5m in bets in comparison.

Revenue down year-on-year

As for gross gaming revenue, this amounted to $40.5m for December, 41.6% more than the $28.6m generated in November.

colorado’s december gross gaming revenue was 41.6% higher than the previous month

However, despite taking far more bets than in December 2022, this was not reflected in year-on-year revenue comparison. Revenue was actually 0.1% less than the $40.9m in the previous year.

Online wagering accounted for almost all monthly revenue, with retail’s contribution at just $63,546.

As the National Football League seas..

February 1, 2024

The UK in 2024: Can the sports betting industry be saved?

After a turbulent 2023, the UK outlook for 2024 is not positive. While GGR might have been up by nearly 10%, this has been largely attributable to online casino.

Despite arguably being the world’s most famous market for sports betting, the UK is now in its most difficult position in recent history.

David Brown, a UK bookmaking industry veteran since 1976, and ex-trading director for William Hill, Coral and LadbrokesCoral, is certainly worried.

“I’ve been in the industry for 47 years and this is the most pessimistic I have ever been over the health of the UK sports betting market,” he states.

2023’s earnings: A sign of things to come

bet365 posted a £61.2m loss during its 2022-23 financial year despite increases in revenue

Earnings reports throughout 2023 have arguably precipitated this decline.

What should have been a record-breaking period – first the 2022 World Cup and then a packed holiday season of horse racing – instead became grim reading.

Bet365, the UK’s largest on..

January 31, 2024

Rhode Island posts further year-on-year sports betting declines in December

Sports betting handle and revenue in Rhode Island fell year-on-year again in December, although revenue in the Ocean State was higher month-on-month.

Player spending in December amounted to $47.9m (£37.8m/€44.1m). This was 19.1% less than December 2022 and 0.6% behind November 2023’s total in Rhode Island.

rhode island player spend was down 19.1% year-on-year

Some $39.1m of the total spent in December was wagered online. The other $8.8m was bet at retail sportsbooks, with $5.6m spent at Twin River and $3.3m Tiverton Casino.

Revenue recovers in December

As for revenue, this reached $4.1m during December. This was 33.9% less than $6.2m in the same month in 2022 but 20.6% ahead of November’s $3.4m.

Online betting generated $3.6m in revenue and retail wagering $591,275. Twin River posted $267,201 in revenue and Tiverton casino $324,074, despite the latter’s smaller handle.

Players won a total of $21.9m during the month including $15.8m from online betting and $8.2m retail.

H1 han..

January 26, 2024

Arizona sets new sports betting handle record in November

Players in Arizona spent $713.6m (£560.9m/€657.2m), a new record for the Grand Canyon State, but revenue was down year-on-year.

Handle for November was 3.3% ahead of the existing Arizona record of $690.0m in March 2022. It was also 15.7% higher than $616.9m in November 2022 and 10.1% more than $648.2m in October 2023.

Some $705.7m was wagered online and $6.1m at retail sportsbooks. A further $1.8m was bet with limited event wagering operators in Arizona.

arizona’s november handle was 10.1% hgher than the $648.2m recorded in october 2023

Licensees paid out $671.3m in winnings to players while free bets and promotional credits in November amounted to $20.5m. This left $20.3m in adjusted gross revenue for the month.

Revenue was 45.9% lower than $37.5m in November 2022 and 38.5% behind $33.0m in October. Online betting revenue hit $19.9m, retail revenue $338,476 and limited event wagering $96,986.

As for tax, this reached $2.0m in November. Almost all of this came from online wagerin..

January 25, 2024

Data is the new oil

Simon Trim, strategic consultant at 10star explores how optimising data can improve business for sportsbooks.

Nearly 20 years ago, the mathematician Clive Humby coined the phrase “data is the new oil”. For the industry and economy, data was to become the new wealth creator in the same way that oil has enabled new technologies and products since the mid-19th century.

For the sportsbook industry, this comment was well ahead of its time. In 2006, the in-play offering that is ubiquitously driven today by real-time game state data largely didn’t exist. Most operators at the time offered little betting action after the start of an event, even on football. Some didn’t offer in-play at all.

Fast forward to 2024 and you could be forgiven for thinking that sports betting operators – and more pertinently the supply chain that feeds them – are fully utilising the data that is available to them.

Simon Trim says sports betting operators aren’t fully utilising data

The perception exists that th..

January 25, 2024

New Hampshire sports betting market declines year-on-year in December

Sports betting handle and revenue in New Hampshire both fell year-on-year in December, although player spending in the Granite State was marginally higher month-on-month.

Handle for December amounted to $78.8m (£61.7m/€72.1m). This was 13.3% lower than $90.9m in December 2022 but 0.4% ahead of $78.5m in New Hampshire in November of 2023.

Players wagered a total of $67.0m online in December and $11.7m at retail sportsbooks across the state.

In terms of gross gaming revenue, this stood at $7.7m for the month. Revenue was 7.2% down from $8.3m in the previous year and 6.1% less than $8.2m in November.

draftkings has exclusive rights to sports wagering in the state

Breaking this down, online sports betting accounted for $6.7m of all revenue in December. The remaining $972,039 came from retail wagering.

All online bets in New Hampshire are placed through DraftKings, which has exclusive rights to sports wagering in the state. DraftKings secured these rights back in November 2019.

As f..

January 24, 2024

North Carolina to launch mobile sports betting on 11 March

North Carolina will launch online sports betting on 11 March 2024, with retail wagering to follow shortly afterwards.

Today (24 January), the North Carolina State Lottery Commission approved the launch date.

Players can begin to register for accounts on 1 March 2024. They can also begin to fund their accounts from this date.

If all goes to plan, North Carolina’s online sports betting market will be up and running in time for March Madness – the National Collegiate Athletic Association’s (NCAA) yearly college basketball tournament and a crucial time for sports betting.

Speculation ramped up over North Carolina’s go-live date earlier this month, when the Commission set 26 January as the deadline for operators to submit their proposed internal controls. Those hoping to operate in North Carolina must receive approval for their internal controls.

Start of the journey for sports betting in NC

The North Carolina State Lottery Commission is currently overseeing the licensing process. Cha..

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Tag: Retail sports betting