Sports betting Archives - Page 33 of 110

October 26, 2023

New Hampshire sports betting handle dips year-on-year in September

Consumer spending on sports wagering in New Hampshire declined 14.6% year-on-year in September, while revenue in the state also fell.

Handle in New Hampshire hit $66.8m in September. This was down from $78.2m in the same month last year but 72.2% higher than $38.8m in August 2023.

Online betting accounted for $59.2m of all sports betting spend during the month. Retail’s share amounted to $7.7m. DraftKings is the only operator that offers online sports betting in New Hampshire having secured exclusive rights in November 2019.

September revenue in New Hampshire tops $6.2m

Turning to revenue, this followed a similar pattern as handle. Gross gaming revenue reached $6.2m in September, down 16.2% from $7.4m in September 2023 but 87.9% up from $3.3m in August this year.

Mobile sports betting generated $5.6m in revenue, while retail wagering drew $609,874.

New Hampshire collected $2.7m in tax from sports betting in September. Some $2.4m came from online betting and $274,060 from retail a..

October 26, 2023

Louisiana sportsbooks take record $43.1m in revenue during September

Sports betting revenue in Louisiana reached an all-time high of $43.1m in September, while the state fell just short of its monthly handle record.

Combined online and retail gross revenue was 37.7% ahead of $31.3m in September of last year. The figure also comfortably surpassed the previous Louisiana record of $37.2m set in December 2022.

Of this total, $36.0m came from online betting and $5.7m from retail wagering in Louisiana.

In terms of adjusted revenue, which discounted promotional betting, revenue was $41.8m. This was 34.0% ahead of September 2022.

Louisiana September handle narrowly misses record

Turning to consumer spending, total handle for September stood at $280.1m. This was 37.4% ahead of $203.8m in 2022 and only just behind the record $282.3m wagered in January this year.

Players bet $248.8m on sports online and a further $31.4m at retail sportsbooks across the state of Louisiana.

Breaking down performance by sport, football was the most lucrative for operators, dra..

October 26, 2023

US Supreme Court denies West Flagler’s motion to stay

The US Supreme Court has denied West Flagler Associates' motion for a stay, giving hope to Florida's Seminole tribe for a sports betting relaunch in the Sunshine State.

Chief Justice John Roberts denied the motion to stay yesterday (25 October), which was described by the official Supreme Court blog as an “emergency application for stay”.

Brett Kavanaugh, Associate Justice of the Supreme Court, said in a statement that he agreed with the court’s decision.

“I agree that the stay application should be denied in light of the DC Circuit’s pronouncement that the compact between Florida and the Seminole tribe authorises the tribe to conduct only on-reservation gaming operations and not off-reservation gaming operations,” he said.

“If the compact authorised the tribe to conduct off-reservation gaming operations, either directly or by deeming off-reservation gaming operations to somehow be on-reservation, then the compact would likely violate the Indian Gaming Regulatory Act, as..

October 25, 2023

BetMGM seals Sportradar NBA tracking data deal

BetMGM will have access to products and services supported by NBA optical tracking data under an expanded partnership with Sportradar.

BetMGM will use the products to expand its in-play betting markets and its prop and parlay offerings.

Sportradar’s partnership with the NBA gives it access to player tracking data from the start of the 2023-24 season. The new NBA campaign got underway yesterday (24 October). Sportradar also exclusively provides NBA data worldwide and distributes live coverage of the league to sports betting operators globally .

Sportradar chief commercial officer Eduard Blonk said the BetMGM deal will support “the return-on-investment of our partnership with the NBA”.

“We’re pleased our value-add products and services will unlock the potential of NBA optical tracking data for BetMGM,” he said.

The NBA’s agreement with Sportradar was initially announced in 2021. As part of the deal, the league secured an equity stake in the data provider.

Jarrod Schwarz, chief prod..

October 25, 2023

A force to be reckoned with

There’s an element of fun to the niche sports Pro League Network (PLN) presented to regulators. But don’t doubt its impact, or PLN’s ability to harvest player attention, writes Cole Rush.

“It’s okay to laugh.”

That’s what Bill Yucatonis, co-founder of PLN tells regulators when he presents niche sports for potential wagering.

“We’re going to talk about mini golf today,” Yucatonis tells them. “It’s okay to laugh.”

With PLN, it’s all fun and games. There’s a serious side, sure – we’re talking about carefully constructed alternative sporting leagues, after all. But Yucatonis and his team don’t shy away from the lightheartedness that permeates PLN sports.

Yucatonis and his partner and co-founder Mike Salvaris concocted PLN almost two years ago. With backgrounds in the gaming and sports industry, they set out to bring “alternative sports” into the mainstream.

“We’ve got 16 leagues in our network and we’re growing,” says Yucatonis. “We look for sports that have some viral components and..

October 25, 2023

Arizona sports betting spend surpasses $358m in August

Consumers in Arizona spent more than $358.0m betting on sports in August, while operators in the state posted more than $30.0m in total revenue.

Total spend in Arizona amounted to $358.9m. This was marginally lower than the $361.0m bet in August 2022 but 11.1% ahead of $323.2m in July this year.

Arizona bettors wagered $354.6m betting on sports online and a further $3.4m at retail locations across the state.

Player winnings stood at $327.2m, resulting in $30.9m in adjusted gross event wagering receipts before free bets. The latter is 10.7% lower than in August last year and includes $30.2m from online betting and $606,731 retail.

Free bets exceed $9.4m in Arizona in August

Reporting the figure, the Arizona Department of Gaming also noted the impact of free bets and promotional credits. These hit $9.5m in August, compared to $8.5m in the same month last year, with almost all coming from online betting.

When taking these free bets off, adjusted gross event wagering receipts reached..

October 25, 2023

Michigan: online casino jump offsets sports betting dip in September

Online gambling revenue in Michigan increased year-on-year during September, with growth in internet casino offsetting a decline in the sports betting segment.

Gross internet gaming and sports betting receipts from commercial and tribal operators hit $210.4m in September. This is 19.2% higher than $176.5m in Michigan last year and also 20.0% ahead of $175.4m in August this year.

Online casino remains the primary source of igaming revenue in Michigan. Gross receipts in this segment amounted to $166.4m, up 29.3% on last year.

In contrast, sports betting gross receipts slipped 8.0% to $44.0m for the month. This is despite handle increasing by 25.6% to $457.7m.

Michigan adjusted gross gaming receipts exceed $168m in September

When accounting for promotional spending, adjusted gross receipts from igaming and sports betting combined was $168.5m. This is 17.8% more than September 2022 and 10.1% ahead of August this year.

Online casino adjusted gross receipts in Michigan in September rea..

October 25, 2023

LiveScore Group’s Sam Sadi builds his media empire

LiveScore Group aims to become the world's leading sports media operator, and sports betting is just the start. Chief executive Sam Sadi explains the masterplan.

“I remember the days when we used to press F5 to refresh the LiveScore.com website. That’s how long back it was,” says LiveScore Group chief executive Sam Sadi.

LiveScore launched in 1998, offering visitors football scores. Gamesys acquired the business in 2017 and, following that operator’s £490m sale to Jackpotjoy Group and then the £2.0bn merger with Bally’s Corporation, LiveScore Group stands alone as an independent business led by Sadi.

LiveScore turns 25 today, starting out providing live match data to players in 1998

The LiveScore Bet sportsbook launched in 2020, complementing the affiliate arm, not to mention its second brand, Virgin Bet. But Sadi isn’t only interested in building a sports betting business.

“We have a plan we’re implementing,” he explains. “You could call it a ten-to twenty-year plan. We i..

October 24, 2023

Kentuckians wager $250m on sports since opening

Andy Beshear, the governor of Kentucky has said that close to $250m (£204.0m/€234.8m) has been wagered in the state since sports betting went live.

Beshear made the comment on X, formerly known as Twitter.

“Nearly $250 million has been wagered in Kentucky since sports betting went live,” Beshear wrote. “It took many years and a lot of hard work to get here, but we got it done!

“And now those dollars are staying in our commonwealth to make this a better place to call home for all our families.”

Kentucky’s sports betting market opened in two parts. Retail sports betting opened on 7 September, followed by online sports betting on 28 September.

Long road to sports betting success

The journey to a legal sports wagering market in Kentucky has been long and winding. Beshear authorised sports betting in the Bluegrass state with the signing of House Bill 551 in April this year.

The bill approved nine racetracks to be operational for on-site retail sports betting, with each track eligibl..

October 20, 2023

Delaware sports betting handle hits eight-month high in September

Players in Delaware spent $7.6m betting on sports in September, the highest total in eight months, while igaming wagers also increased.

Sports betting handle was down 14.6% from $8.9m in September 2022. However, the figure was up 216.7% from $2.4m in August 2023 and was the highest total in in Delaware since January.

It was a similar story for revenue, which at $958,547 was down 65.6% year-on-year but up 208.9% from August.

Delaware Park remains the sports betting market leader with $130,379 in revenue off a $1.9m handle.

Bally’s Dover ranked second with revenue of $71,880 from $1.0m in bets. The Harrington Raceway posted $30,707 in revenue and a $434,662 handle, while a further $725,583 in revenue came from $4.3m in bets at retailers.

Delaware igaming revenue dips despite higher spending

Turning to igaming and spending increased 3.4% from last year to $39.3m. This figure was also 21.3% higher than August and the largest monthly total since May. Of this total, $22.3m was wagered ..

October 20, 2023

Eight in ten Spaniards gambled in 2022

An annual report compiled by CeJuego, Spain's Gaming Business Council, found that 83.9% of the Spanish population aged 18-75 participated in gambling in 2022.

The percentage represents 29.5 million people.

The report is based on CeJuego’s Game and Society survey, which studies the gambling habits of adults in Spain. The 2023 edition found that although Spanish adults participate in gambling, they tend to take part in low-risk games that don’t promise a high reward.

The survey found that 23.3 million people played national lotteries, ONCE games or La Quinela.

A total of 17.9% of Spaniards play games offered in casinos, gaming halls and bingo halls, and take part in sports betting. This equates to 6.3 million people. The report emphasised that this is far below, for example, the number who said they go to the theatre in their leisure time – 24.5%.

However, this is higher than those who said they take part in painting at 16.1% and almost double the percentage of people who play..

October 20, 2023

Superbook Sports launches online sportsbook in Virginia

Las Vegas-based sports wagering business SuperBook Sports has announced the launch of its online sportsbook product in Virginia.

Players in Virginia can download the SuperBook Sports app and place bets on a wide range of sports and competitions. The app is accompanied by a SuperBook Sports website.

Betting options include major US sports contests such as the NFL, NBA, MLB and NHL. Users can also bet on college sports and other leading events from around the world including soccer’s English Premier League.

“We couldn’t be happier with our continued growth,” SuperBook Sports CEO and managing partner Mark Lipparelli said. “We’re thrilled to be live in Virginia. We feel confident that we have a great product with a strong history that will become a fast favourite of sports bettors in the region.

“Sports fans in the region can find all their favourite teams and get in the action with some of the best sports traditions in the country.”

SuperBook Sports continues to expand in the US

Lau..

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Tag: Sports betting