Sports betting Archives - Page 32 of 110

November 1, 2023

Nevada gambling revenue climbs to $1.27bn in September

Gambling revenue in Nevada edged up 1.6% year-on-year to $1.27bn in September, despite a decline in slots revenue.

Revenue for the month was marginally higher than $1.25bn in September 2022. The total was also 5.0% ahead of $1.21bn in Nevada in August of this year.

Slots were again the primary source of revenue in Nevada, generating $814.6m during the month of September. However, this was 5.1% less than in the same month last year.

Multi-denomination slots were the game of choice for consumers, drawing $473.9m worth of revenue, up 5.7%. Penny slots collected $249.0m, which was 16.8% lower than in 2022.

Nevada baccarat revenue rockets 85.8%

Meanwhile, table, counter and card games revenue increased 16.6% to $456.0m. Baccarat proved most popular with players, generating $148.8m in revenue, up 85.8% on last year.

As for other games, blackjack revenue climbed 12.9% to $97.7m and revenue from craps increased 12.2% to $36.5m. However, roulette revenue slipped 8.9% to $36.9m.

There was..

November 1, 2023

How Adam Greenblatt is sharpening BetMGM’s competitive edge

Adam Greenblatt set BetMGM on a path to profitability and the business will be self-sustaining in the second half of 2023. How will he make sure the operator stays ahead in the US sports betting market as new competitors emerge?

July’s update on BetMGM’s first half performance confirmed the operator was on the path to profitability outlined by CEO Adam Greenblatt in June.

The business will be self-sustaining in the second half of the year. There will be no additional equity investment from joint venture partners MGM Resorts and Entain, beyond the $150m committed for 2023.

BetMGM CEO Greenblatt believes a new phase of competition could be imminent in the US

Greenblatt believes that BetMGM could operate as a separate business and stand on its own two feet if necessary.

“It could be a permanent state, absolutely,” he says of BetMGM as a self-sustaining entity. “[But] I think whether or not that is indeed a permanent state depends on how we want to ramp up and how quickly we want t..

November 1, 2023

DraftKings partners Passamaquoddy tribe for Maine sportsbook

DraftKings has reached an agreement in principle to partner with the Passamaquoddy tribe and launch an online sportsbook in the state of Maine.

The deal, DraftKings says, remains subject to licensing and regulatory approvals. Should it get the green light, DraftKings and the Passamaquoddy tribe will jointly launch the Maine-facing sports betting offering.

Players aged 21 and over will be able to access the DraftKings sports betting app. This offers a wide range of wagering options across various sports leagues and competitions.

The launch would mark the 25th US state in which DraftKings offers sports wagering.

“Building a relationship with the Passamaquoddy tribe is a fantastic opportunity for DraftKings, as we look to bring customers in the state of Maine safe and legal sports betting,” DraftKings co-founder and CEO Jason Robins said.

“We look forward to our continued collaboration with the Maine Gambling Control Unit as we become the official mobile sports betting provider of ..

October 30, 2023

Exploring the potential and pitfalls of AI in sports betting

Artificial intelligence (AI) poses significant opportunities and challenges in nearly every sector, including the sports betting industry. In this two-part series, Russell Karp, senior vice-president of DataArt, delves into the most promising opportunities for sports betting in an AI-driven era.

Undoubtedly, AI technology plays a pivotal role in the sports betting industry.

From enhancing data analysis and odds calculation to refining user experience and supporting responsible gaming, AI stands at the intersection of innovation and user satisfaction.

AI-based customer relationship management (CRM) systems can be used to analyse user behaviour, preferences and trends to personalise digital experiences for bettors. This helps sportsbooks gain an edge over the competition while keeping their clients happy.

However, while the benefits are clear, the incorporation of AI in sports betting is not without its challenges. These may range from security concerns and data privacy issues to eth..

October 30, 2023

Kambi scores sports betting partnership with LiveScore Group

Sports betting solutions provider Kambi Group has entered into a long-term partnership with the LiveScore Group.

Kambi will provide its sportsbook to the LiveScore group of companies, replacing a third-party supplier. This includes its sports media platform and two online betting brands.

Both the LiveScore Bet and Virgin Bet brands will run the Kambi product suite. This offering includes a sports betting platform, managed services, AI-powered trading and Bet Builder.

LiveScore Bet and Virgin Bet are currently active in a number of markets including the UK. The deal also covers the group’s subsidiaries in Gibraltar, Malta and Nigeria.

In addition, the LiveScore in-house product teams will utilise Kambi’s open APIs, incentives tools and bespoke bet offer specials.

The new Kambi-powered sportsbook will launch across multiple markets from Q1 next year. Kambi expects the agreement to contribute material revenue from the second half of 2024.

“With well-established sportsbook brands in ..

October 30, 2023

Tribal sports betting ballots filed in California

Two ballot initiatives that would give tribes exclusive rights to offer retail and online sports betting in California have been filed with the state's attorney-general.

Both ballots name Reeve Collins, co-founder and CEO of Pala Interactive, as the contact for media inquiries. Pala Interactive was founded by the Pala Band of Mission Indians in 2013 and was acquired by Boyd Gaming in November 2022.

The ballots were submitted on 27 October.

One of the proposed ballots, entitled The Sports Wagering Regulation and Tribal Gaming Protection Act, gives full detail as to how sports betting would work under tribes in California. Amending Article IV, section 19 of the California constitution, the proposal would mandate tribes to submit 15% of its adjusted sports wagering gross gaming revenue (GGR) into the tribal sports wagering revenue sharing trust fund.

Tribes would also have to contribute 10% of their adjusted sports wagering GGR into the California homelessness and mental health f..

October 30, 2023

Rhode Island sports betting handle hits six-month high in September

Players in Rhode Island spent $37.6m betting on sports in September, the highest monthly total since March but lower than last year.

The figure is 9.8% less than the $41.7m spent in Rhode Island in September 2022. However, it is 67.1% more than $22.5m in August this year and the highest total for six months.

Of this total, $28.7m was spent betting online and $9.0m at retail sportsbooks. Land-based wagers were placed at physical facilities at Twin River and Tiverton Casino. Twin River took $5.7m in bets and Tiverton Casino $3.2m.

September sports betting revenue reaches $3.5m

Revenue from sports betting in Rhode Island increased by 150.0% month-on-month in September to $3.5m. This was, however, 45.3% lower than $6.4m in September 2022.

Online betting accounted for $2.8m of all revenue during the month. Retail’s share was $663,538, split between Twin River and Tiverton Casino. Twin River posted $441,485 in revenue and Tiverton Casino $222,053.

Rhode Island players won a total of $3..

October 30, 2023

Detroit casino revenue slips to $101.6m in September

The three commercial casinos in Detroit, Michigan posted $101.6m in revenue in September, down on the same month last year and lower than August’s total.

Monthly aggregate revenue in Detroit was 1.7% lower than $103.4m September of 2022. It was also 3.2% behind $104.9m in August of this year.

Of this total, some $100.0m came from table games and slots, a 0.8% decline from last year and down 4.4% from August.

Retail qualified adjusted gross receipts (QAGR) in September amounted to $1.6m. This was 39.4% less than the previous year but 396.6% ahead of just $322,186 in August this year. Betting handle for the month amounted to $18.1m.

MGM leads in Detroit with 44% market share

Looking at individual casino performance, MGM remains the market leader in Detroit by some distance. MGM had a market share of 44% in September, with $44.7m in table games and slots revenue and $43,528 in sports betting QAGR.

MotorCity placed second with a market share of 31%. The casino posted $31.0m in table ..

October 30, 2023

Asian Games boosts Chinese lottery figures in September

The Asian Games in Hangzhou and new instant win games triggered a lottery revenue surge in China in September.

China’s state lottery saw a 58.3% rise in total lottery ticket sales to CNY52.8bn ($7.2bn/€6.8bn/£5.9bn) in September, according to figures released by the ministry of finance.

The most notable rise was in guess lottery sales – effectively sports betting – which grew by 70.1% year-on-year to CNY21.9bn. The ministry said the increase in major events such as the multi-sport Asian Games, which began during the final week of the month, was behind the surge.

The ministry of finance said the launch of new instant lottery tickets and the expansion of new channels also accounted for growth during the month. Lotto digital lottery sales were up 15.0% to CNY14.9bn, while instant lottery sales grew by 152% to CNY12.5bn. Keno lottery sales were up 36.9% to CNY34.9bn.

In September, the sales volume of Lotto digital, guessing, instant and Keno lottery tickets accounted for 28.2%, 41.5%,..

October 30, 2023

PGA Tour suspends US golfers over betting rule breaches

Golf’s PGA Tour has suspended players Vince India and Jake Staiano for breaching its rules on betting on the sport.

India and Staiano were both found to have placed bets on PGA Tour tournaments. The PGA Tour Integrity Programme states players cannot wager on any professional golf competition or event.

The PGA Tour confirmed neither player bet on competitions in which they were competing. It is not clear what events they bet on, nor the type of wagers that were placed.

India will now serve a six-month suspension from PGA Tour-sanctioned events. This is being backdated to 18 September and will run through to 17 March next year.

Staiano’s three-month suspension from PGA Tour-sanctioned competitions runs from 11 September until 10 December.

The PGA Tour says it has no further comment on the suspensions at this time.

India is a 34-year-old player from the US who turned professional back in 2011. His current Official World Golf Ranking (OWGR) is 936.

Staiano, also of the US, is aged ..

October 27, 2023

NHL issues first sports betting ban to Ottawa Senators star Pinto

The National Hockey League (NHL) has issued a 41-match ban to Ottawa Senators player Shane Pinto for violating its rules on sports betting.

Pinto becomes the first NHL player to be banned for betting on sports since the repeal of PASPA in mid-2018. New York-born Pinto has played for the Senators since joining the team from college in 2021.

The NHL did not disclose full details of the case, except that it linked to “activities relating to sports wagering”. League policy states players are not allowed to wager on NHL games but can bet on activities outside the league.

However, the NHL said there is no evidence Pinto bet on any NHL game. As such, it is unclear as to what Pinto actually wagered on and why he has been banned.

“The NHL considers this matter closed,” the league says. “Absent the emergence of new information, we will have no further comment.

Pinto also released a statement on the matter, issuing an apology for his actions.

“I want to apologise to the NHL, the Ottawa Se..

October 26, 2023

Italy’s Sandro Tonali handed 10-month ban

Italian international footballer Sandro Tonali has been banned for at least 10 months after being found to have broken betting rules.

The Newcastle United player was handed an 18-month disqualification according to a statement issued by the Italian Football Federation (FIGC). The ban is initially only imposed in Italy, but will almost certainly be extended globally by Fifa, possibly before this weekend. The ban will be reduced to 10 months should Tonali, who claims to be a gambling addict, complete an eight-month rehabilitation plan.

Under an agreement reached with the Federal Prosecutor’s Office, Tonali has also been handed a €20,000 ($21,000/£17,500) fine.

Tonali, who joined Newcastle from AC Milan for £55m in July, was found to have breached article 24 of the CGS, the FIGC’s Code of Sports Justice. This article forbids professional footballers from placing bets on events organised by FIGC, UEFA and Fifa.

Tonali is one of three Italian internationals who have been under investiga..

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Tag: Sports betting