Sports betting Archives

August 31, 2022

BlueBet set for US debut after marketing spend drives growth

BlueBet said investment in marketing and technology and a successful US entry strategy were key as it exceeded financial targets during the year to 30 June 2022.

The mobile-first online wagering services provider, which listed on Australia’s ASX in July 2021, posted turnover of AUS$511.9m during the financial year, which was up 48.5% on the previous 12 months.

It cited a strong performance in its Australian business, with active customers, turnover, net win and gross profit all increasing significantly as it grows market share. It also now has market access in four US states through its ‘capital lite’ US entry strategy, and has this week announced the debut of its ClutchBet B2C brand in the Iowa market.

It noted high return on marketing investment demonstrated by growing brand recognition and

annual customer value to cost to acquire a first time depositor ratio of 2.7x. It had 53,000 active customers by the end of the financial year, some 64.2% more than 12 months previously.

Blue..

August 31, 2022

Licensed sportsbooks prepare for Kansas launch

North American gambling giant DraftKings has confirmed it will launch in Kansas tomorrow (1 Sep) – the opening day of legal sportsbook operations in the US state.

DraftKings is among the six sportsbook operators that have already obtained licenses in the state through partnerships with existing brick-and-mortar gaming facilities.

The six licensed operators – Barstool Sports, BetMGM, Caesars, DraftKings, FanDuel and PointsBet – can offer sports betting from 1 September with mobile betting allowed from 8 September.

To read the full article, visit iGB North America.

August 26, 2022

BetMakers CEO optimistic as revenue rockets after Sportech acquisition

BetMakers chief executive Todd Buckingham said the business is now “unquestionably robust and independent of any single contract or strategy”, following rapid revenue growth in 2021-22, aided by the acquisition of Sportech’s global tote arm.

The business brought in AU$91.7m in revenue during the year ended 30 June, though its losses also increased following the deal.

Global betting services – which previously made up the vast majority of BetMakers’ revenue – brought in AU$19.5m, up by 179.3%.

However, with acquisition-driven growth in other segments, it was no longer the leading revenue generator for the business.
Instead, the global tote arm – acquired from Sportech last year – was the new leader. Tote revenue was AU$46.9m, up from just AU$1.7m a year earlier as the acquisition closed in the final weeks of 2020-21.

The BetMakers global racing network brought in AU$4.1m, up by 28%.

Costs of goods sold also increased, but more slowly, from AU$9.3m to AU$25.4m, resulting in a gross..

August 26, 2022

GNOG secures market access in Kansas with Boot Hill Casino

DraftKings-owned Golden Nugget Online Gaming (GNOG) has secured market access in the state of Kansas by entering a partnership with Butler National Corporation, operator of the Boot Hill Casino & Resort.

Under the deal, which is subject to the receipt of licenses and regulatory approvals, GNOG will roll out its online sportsbook in Kansas, allowing players across the state to place bets on sports.

New laws in the state will allow land-based casinos each to contract with three sports wagering platform providers, as well as offer sports betting through a retail sportsbook.

Butler National Corporation president and chief executive Clark Stewart said the aim for the operator is to launch sports betting in some form by September 1, the date which licensed casinos can begin accepting wagers.

“GNOG is a recognised and established brand within the gaming industry,” Stewart said. “We’re thrilled our customers may soon experience all the excitement that online sports betting has to offer wit..

August 26, 2022

Cost of living represents looming crisis

iGB op-ed: Zak Thomas-Akoo argues the gaming sector should brace for a squeeze as macroeconomic conditions start to bite.

“Now is the winter of our discontent,” burbled Richard III, in the famous warning of what happens when a clever clogs lets ambition outstrip means. More prosaically, winter is certainly on the mind of those in the UK as the country braces for a potential triple threat of recession, energy price shocks and generalised inflation, all of which have direct industry implications.

A combination of supply constraints, fiscal and monetary policy, and energy disruptions have made inflation a worldwide phenomenon but it is most ferocious in the UK. In August, annualised inflation reached 8.5% in the US, 8.6% in Eurozone, just 6.5% in France – and 10.1% in Britain.

As our long, hot and doomed summer recedes into the middle distance, from Middlesbrough to Downing Street, Britain is blowing off its dusty old picture books of 1978 as it braces for the squeeze, and it’s not muc..

August 26, 2022

Sports Interaction secures Ontario licence after Entain acquisition

Canadian online sports betting brand Sports Interaction has become the latest operator to secure an internet gaming licence from the Alcohol and Gaming Commission of Ontario (AGCO).

The new licence will enable the operator to roll out its Sportsinteraction.com site and offer sports wagering to consumers across the province.

Sports Interaction joins a host of other brands to have secured licences in Ontario, which opened its legal online gambling market in April this year. Prior to the market opening, Sports Interaction had been a major brand in the Ontario grey market.

Bally’s, PokerStars, SkillOnNet and BetVictor are among the latest licensees, while operators such as theScore, PointsBet and Bet365 were approved before the market opened.

Earlier this year, Entain acquired Avid Gaming, the business behind Sports Interaction, from Middlebrook Investments Limited in a CAD$300m deal.

Avid Gaming leases Sports Interaction exclusively to the Mohawk Council of Kahnawà:ke and the Mohawk ..

August 26, 2022

FanDuel to launch new television network and streaming platform

Flutter Entertainment-owned FanDuel Group is to launch a new television network and digital over-the-top (OTT) platform in the US.

Scheduled to go live next month, FanDuel TV will be broadly distributed on linear television through the operator’s relationships with major cable and satellite distributors such as Comcast Xfinity, Spectrum, Verizon FIOS, DirectTV, DISH, Cox Communications, FuboTV, YouTubeTV, and Hulu.

The FanDuel+ OTT platform will be widely available on direct-to-consumer OTT platforms including Roku, Apple TV and Amazon Fire, while it will also be free to download for all existing FanDuel customers with accounts on any of its sportsbook, casino, horse racing or daily fantasy platforms.

Together, FanDuel TV and FanDuel+ become the first linear and digital networks dedicated to sports wagering content to launch in the US.

“FanDuel TV is the first network designed from the ground up to be watched by viewers with their phone in hand,” FanDuel’s chief commercial officer ..

August 25, 2022

Delaware sets igaming revenue record in July as sports betting struggles continue

Online gaming revenue in Delaware reached a record-high in July, though the state’s sports betting market continued to struggle.

Revenue from igaming amounted to $1.25m (£1.06m/€1.25m). narrowly beating the previous monthly high of $1.22m set in April this year.

The July figure was also 58.1% higher than $793,017 in the same month last year, as well as 12.1% ahead of $1.1m in June this year.

Online video lottery accounted for $1.0m of total revenue for the month, with table games at $165,378 and poker rake and fees $43,944.

Players spent $39.4m gambling online, including $26.8m on video lottery and $12.6m on table games.

Delaware Park was the leading operator in the igaming sector with $377,753 in revenue off $16.2m in bets, ahead of Bally’s Dover on $377,753 from $12.9m and Harrington Raceway with $332,904 off $9.8m in wagers.

Turning to sports betting, revenue for the month stood at $383,249, down 27.5% year-on-year, but 80.1% higher than $212,768 in June this year.

Consumers ..

August 25, 2022

Delaware sets igaming revenue record in July as sports betting struggles continue

Online gaming revenue in Delaware reached a record-high in July, though the state’s sports betting market continued to struggle.

Revenue from igaming amounted to $1.25m (£1.06m/€1.25m) narrowly beating the previous monthly high of $1.22m set in April this year.

The July figure was also 58.1% higher than $793,017 in the same month last year, as well as 12.1% ahead of $1.1m in June this year.

Online video lottery accounted for $1.0m of total revenue for the month, with table games at $165,378 and poker rake and fees $43,944.

Players spent $39.4m gambling online, including $26.8m on video lottery and $12.6m on table games.

Turning to sports betting, revenue for the month stood at $383,249, down 27.5% year-on-year, but 80.1% higher than $212,768 in June this year.

Consumers w..

August 25, 2022

USA Today publisher Gannett alters Tipico deal, removing exclusivity

US media giant Gannett has altered its affiliate partnership with Tipico, removing exclusivity for the operator.

Gannett – which owns the country’s leading newspaper by circulation, USA Today, as well as a large network of local newspapers – had signed a deal with German market leader Tipico last year, as the operator looked set to expand in the US.

The operator committed to $90m in media spend over the five-year agreement, while Gannett would also receive referral fees for customers that placed bets after being directed to Tipico from Gannett properties.

That agreement replaced Gannett’s partnership with MGM-Entain joint venture BetMGM, meaning the media business would promote Tipico odds instead of BetMGM’s.

Read the full story on iGB North America

August 25, 2022

Betting and Gaming Council welcomes Fitzdares as latest member

The Betting and Gaming Council (BGC), an industry body for the UK regulated betting and gaming sector, has announced historic personal bookmaker Fitzdares as its latest member.

Fitzdares, which has operated since 1882, will now work alongside the BGC and its network of members to influence decision-making in the UK industry.

The bookmaker allows customers to place bets via its official app, website, live chat, SMS, email and telephone, while in 2020 it also opened its first “Fitzdares Club” in Mayfair, a venue for members to watch live sport.

Earlier this year, Fitzdares launched its second location in the Cotswolds, complete with an 18-hole golf course.

“As a medium-sized independent and boutique business, we wanted our voice heard,” Fitzdares chief executive William Woodhams said. “The BGC gives us the opportunity to be at the table where the key decisions are being made in UK gaming.”

Fitzdares this year also announced its expansion into the Ontario regulated market, being one ..

August 24, 2022

BetMGM expands strategic partnership with SportsGrid

BetMGM has expanded its strategic partnership with US-facing 24-hour sports wagering streaming network SportsGrid.

Under the multi-year agreement, BetMGM’s trading team and experts will provide insight during a number of SportsGrid programs such as including Ferrall Coast to Coast, Pro Football Today and In-Game Live Primetime.

BetMGM’s odds and promotions will feature throughout Ferrall Coast to Coast, while its content will also appear on other shows broadcast by SportsGrid.

In addition, SportsGrid’s lead pro football analyst Warren Sharp will deliver reports from MGM Resorts properties including MGM National Harbor in Maryland.

The reports will be distributed over SportsGrid’s multi-media content platforms including the video streaming network, website, digital syndication publisher network and both BetMGM’s and SportsGrid’s social media properties.

The expanded deal builds on an initial strategic partnership announced in February of this year.

“We are thrilled to be expanding..

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Tag: Sports betting