Sports betting Archives

September 7, 2022

Betegy to ramp up US push following Yolo investment

Betegy has closed an investment round led by Yolo Investments – the venture capital arm of the Yolo Group, which operates the Sportsbet.io brand.

Betegy – which provides data visualisations, automated on-air and retail graphics, and casino marketing assets to operators – intends to use the funds to continue its scaling in the US. The announcement follows a previous funding round led by JKR Investment Group, which was announced in 2020.

iGB spoke to both Betegy founder and chief executive Alex Kornilov, and Yolo Investments founder and GP Tim Heath to discuss the deal and how Betegy plans to further adapt its products for the US market, and the startup funding sector as a whole.

What encouraged you to invest in the business; what do you think that Betegy brings to the market that wasn’t on offer before?

TH: Betegy’s great innovation is to automate the previously time-consuming process of turning reams of data into world-class content. We know the product works because it’s been succ..

September 7, 2022

Swifty Global launches new sports betting and igaming site

Financial and sports betting technology solutions provider Swifty Global has announced the soft launch of its new Swifty Gaming sports betting and online casino website.

Swifty Gaming will allow customers to place pre-event and in-play bets on all major sports events, as well as access more than 200 casino games.

The provider said it expects to onboard a number of premium clients following the launch, adding that the Swifty Gaming site will help generate tens of millions in additional revenue during its first year of operation.

The launch comes after Swifty recently secured new gambling licences in both the UK and Curacao, allowing it to roll out a sports predictions app in the UK and a global digital wallet offering artificial intelligence and cryptocurrency and blockchain transactions.

In addition, Swifty in June announced it had agreed a deal to acquire UK online gambling operator Goldchip Limited. Goldchip has a portfolio of nearly 750 high net worth VIP clients including a num..

September 6, 2022

Arizona betting handle declines again in June

The Arizona Department of Gaming reported a further drop in the state’s sports wagering handle in June, with player spending falling 30.9% month-on-month.

Consumers wagered a total of $318.8m on sports during the month, down from $461.5m in May. Of this amount, $316.0m was spent betting on sports on mobile, with the remaining $2.8m bet at retail sportsbooks.

Players won $306.2m from sports betting in June, which resulted in $15.4m in revenue for licensed operators, down 721% from $55.2m in the previous month.

After accounting for $9.2m worth of free bets and promotional credits, taxable revenue for the month was $7.7m, a drop of 81.4% from $41.4m in May.

FanDuel once again led the way in terms of handle, taking a total of $106.3m in bets, some $104.0m of which were via mobile and $2.3m retail. DraftKings placed second with $92.8m in online bets, then BetMGM with $59.7 worth of online wagers.

Turning to gross revenue and FanDuel also claimed top spot with $7.4m in revenue, ahead of..

September 6, 2022

Sportingtech appoints Tommy Molloy as chief sportsbook officer

Online gaming technology supplier, Sportingtech, has tapped Tommy Molloy to be the business’ new chief sportsbook officer.

Molloy joins the company after a three-year stint as sportsbook and trading director at Pronet Gaming. Before this, he was head of sports trading at Tabcorp UK.

As CSO, Molloy will oversee the business’ sports betting offering, principally working on Sportingtech’s Quantum igaming platform.

Previously known as Pulse Platform, Sportingtech unveiled the rebranded and updated product in July 2021. Among other features, Quantum has a modular design, third-party integrations as well as a content management system.

Molloy’s appointment is the latest in a string of senior leadership changes in the last few months. It follows the nomination of Bobby Longhurst as the business’ new managing director, Colin McDonagh as chief sales officer and Daniel Stone as head of marketing.

In a statement, Sportingtech said that it is counting on Molloy’s expertise in expanding to ne..

September 5, 2022

Virginia betting handle falls for fourth consecutive month in July

The Virginia Lottery reported a month-on-month drop in player spending on sports betting for the fourth consecutive month in July, though revenue in the state improved significantly.

Handle for the month amounted to $266.0m (£231.5m/€268.2m), which was 9.9% lower than $295.2m in June this year but 64.2% higher than $161.9m in July of last year.

Adjusted gross gaming revenue, which is defined as total bets minus winnings, bonuses and promotions and other authorised deductions, jumped 64.6% month-on-month to $21.4m.

The Virginia Lottery also noted that this amount was 68.5% higher than $12.7m in the same month in 2022.

Consumers in the state won a total of $240.0m from sports betting during the month, while $396,903 worth of bonuses and promotions were issued to players and the Virginia Lottery also accounted for a further $4.2m in other deductions.

Increased adjusted gross gaming revenue meant the state was able to collect a total of $3.1m in tax from sports betting in July.

Of th..

September 5, 2022

Colorado sports betting handle continues to decline in July

Consumer spending on sports betting in Colorado fell for the fourth consecutive month in July, though the US state did report an increase in revenue.

Handle in July amounted to $258.4m (£224.8m/€260.5m), the lowest monthly total of the calendar year so far, and also 17.5% lower than $313.2m in June. However, the July total was 42.5% higher than $181.3m in the same month last year.

Of this total, $256.4m was spent betting on sports online, while the remaining $2.0m was wagered at retail sportsbooks across the state.

In terms of gross gaming revenue, this reached $20.8m, which was 205.9% higher than the $6.8m reported in June this year and also 32.5% higher than $15.7m in July 2021.

Online betting accounted for $14.2m of all revenue during the month, with retail reaching just $35,781.

Baseball was the most popular sports to bet on, drawing $110.6m in total wagers, ahead of tennis in $24.4m and basketball with $23.4m.

The state collected $1.1m in sports betting taxes during the mont..

September 5, 2022

FanDuel mobile and retail sports betting live in Kansas

FanDuel has launched its sports betting offerings in Kansas, in the form of an app as well as a retail sportsbook in conjunction with Boyd Gaming.

Kansas bettors can now place wagers on the online FanDuel Sportsbook, and can download its official app.

Alongside mobile sports betting, FanDuel has also opened a temporary retail sportsbook with Boyd Gaming at the Kansas Star Casino, with the grand opening of the permanent venue at the casino scheduled for 8 September.

The ceremony will see NFL wide receiver Jordy Nelson place the ceremonial first bet.

The retail sportsbook at the Kansas Star will feature four betting windows, 28 HD televisions and 20 self-service betting kiosks.

Kansas has become the latest US state FanDuel’s mobile betting app is live in, after most recently launching in Wyoming and Louisiana in March and January respectively.

Currently, FanDuel has 51% total market share in the US, according to parent company Flutter’s recently released Q2 results.

Last month, Fa..

September 5, 2022

Caesars rolls out updated PA platform, expands Louisiana retail presence

Caesars Entertainment has announced the launch of its updated sports betting and igaming platform in Pennsylvania and also opened a number of new sportsbook retail locations in Louisiana.

The new-look Caesars Sportsbook & Casino app is available to download in Pennsylvania and offers users improved sports betting and a range of casino gaming options.

Other features include additional ways to deposit funds, faster payouts, live scoreboards, and expanded in-play betting options.

In addition, the app integrates the Caesars Rewards customer loyalty programme that allows players to accumulate points that can be redeemed for exclusive opportunities across Caesars’ gaming, hospitality, entertainment, nightlife, dining and venues.

“Caesars has called Pennsylvania home for quite some time; it’s only fitting that we build upon the legacy of our popular casino and racetrack, Harrah’s Philadelphia, by bringing customers our best version of Caesars Sportsbook & Casino,” Caesars Digital co-presi..

September 2, 2022

Betr launches micro-betting app

Betr has launched its micro-betting focused app on a free-to-play basis across the US ahead of it obtaining licences and regulatory approval.

Betr was founded by Joey Levy, who was also the founder of Simplebet, and social media personality Jake Paul, who is the business’ president. Its app is focused on enabling users to predict the outcomes of every moment of every sporting event, including all pitches and at-bats in Major League Baseball games and every play and drive of all National Football League fixtures.

Betr officially launched last month, having raised $50m in funding.

The app is available nationwide initially for social play, with users able to wager coins which can be redeemed for real prizes. Having recently applied for a licence in Ohio, Betr added that real money betting will be available over the coming months.

“We are thrilled to announce the launch of the Betr app today,” said Joey Levy, founder and chief executive of Betr.

“We view this free-to-play experience a..

September 2, 2022

BetMGM marks Kansas launch with Chiefs deal

BetMGM has marked its entry into the Kansas sports betting market by partnering with the Kansas City Chiefs.

The state’s sports betting market went live on 1 September, with six operators having been licensed to offer their services.

BetMGM debuted in its 24th market across North America, and also announced its partnership with the National Football League’s (NFL) Chiefs ahead of the new season.

To read the full article, visit iGB North America.

September 2, 2022

Simon Hammon’s lessons from a lifetime in slots: The present

Simon Hammon, recently named chief executive of Relax Gaming, insists he’s not a typical “product guy”. But the games released under his watch, like Starburst during his time at NetEnt, have had a massive impact on the industry. In the second part of a three-part interview, Hammon offers advice for businesses in the crowded slots space of today.

Simon Hammon’s success at NetEnt ultimately took him to Relax Gaming. In part one of this series, Hammon outlined how the move might have looked to some like a “step down”.

But since joining, the business has been growing strongly. For the second quarter of 2022, revenue was up 20% quarter-on-quarter to £5.2m, with six new titles rolled out and the Dream Drop jackpot feature going live.

Its partner base expanded to 15 new operators in that same period, while 132 studios were integrated into its RGS, while its reach extended to Italy and Spain, with a licence for Ontario setting it up for entry to North America.

That business-minded view has..

September 2, 2022

Brazilian operators risk being punished for government inaction

iGB op-ed: Daniel O’Boyle argues that Brazil’s latest crackdown on sponsorship punishes operators that believed they had a clear pathway to launching before the winter.

Five matches into the season, the Premier League – and European club football in general – is well and truly back.

But the big moment of anticipation in the football world this year is still to come, when those domestic leagues will, of course, stop this winter, for the 2022 Fifa World Cup.

However excited those in Europe may be, surely no nation can match Brazil in its enthusiasm for the World Cup.

So naturally, the event has long been the circled date on the calendar for the launch of regulated sports betting in Brazil.

Operators had surely hoped that the months in the build-up to the event would be a time to prepare to get their licensed operations up and running, putting the finishing touches in place to take bets on the World Cup.

But instead, it might be close to the exact opposite.

With the opening match n..

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Tag: Sports betting