Sports betting Archives

October 2, 2023

Nevada gambling revenue level year-on-year at $1.21bn in August

Gambling revenue in Nevada remained level year-on-year in August at $1.21bn, although the US state reported a month-on-month decline.

Revenue was in line with the $1.21bn posted in August 2022. However, this was 14.3% lower than $1.40bn in July in Nevada this year.

Slots drew $829.2m of all revenue in August, down 2.1% on last year. Multi-denomination slot games generated $479.3m in revenue and penny slots $256.9m.

Elsewhere table, counter and card games revenue increased 5.2% to $380.1m. Baccarat led the way with revenue of $116.2m, some 21.0% ahead of $96.7m in August 2022.

Blackjack was the next highest source of revenue across table, counter and card games at $99.1m, down marginally from $100.0m in the previous year. Roulette revenue jumped 20.5% to $39.9m but craps revenue slipped 7.4% to $36.2m.

Nevada sports betting revenue up 12.4%

Turning to sports betting, revenue from sports pool wagering jumped 12.4% to $18.1m. All sports betting is reported as part of table, counter ..

October 2, 2023

Super Group exits India over new online betting tax

Betway operator Super Group has withdrawn from the Indian market in response to a new online gambling tax rate that came into effect this month.

Operators are now having to pay a flat 28% turnover tax for online gambling, casino and horse race betting. The rate came into effect yesterday (1 October) after being announced by the Goods and Council Tax Council (GST) in India in July.

Super Group says the new rules mean the Indian market is no longer commercially viable for the business. As such, it has dropped all services with immediate effect.

“We are continuously evaluating evolving regulatory landscapes across the many markets we serve,” Super Group CEO Neal Menashe said. “Informed by years of operating our geographically diverse business, we remain confident about the long-term growth opportunities in front of us.”

Super Group adds that despite the exit, full-year financial projections are unchanged.

Industry body blasts higher rate

Tax will be applied to the full-face value o..

October 2, 2023

FDJ completes acquisition of ZEturf

French national lottery operator Française des Jeux (FDJ) has finalised its acquisition of online horse racing betting site ZEturf Group.

The announcement completes a process that began in November last year when FDJ struck the acquisition deal. The transaction places ZEturf’s value at €175.0m (£151.6m/$185.0m).

Completion comes after the French Competition Authority (l’Autorité de la Concurrence) gave its approval to the deal last month.

Founded in 2001, ZEturf employs approximately 100 people and generated over €50.0m in revenue in 2022. Alongside online horse race betting, it offers internet sports betting via the ZEbet brand.

“The acquisition of ZEturf marks a new chapter for FDJ,” CEO and chairwoman of FDJ, Stéphane Pallez, said. “It strengthens our position in the French market for online games open to competition.

“Following the launch of our poker business, our entry into the world of online horse-race betting rounds out our diversified online range and bolsters FDJ Group..

September 29, 2023

DC Circuit denies West Flagler’s motion to stay

The US Court of Appeals for the DC Circuit has denied West Flagler Associate's motion to stay.

The motion, which was filed last week, was objected to by the US Department of the Interior (DOI) earlier this week (26 September).

West Flagler’s request to stay was its latest attempt to block the Seminole Tribe of Florida from rolling out Hard Rock Bet. The Seminoles were permitted to exclusively offer sports betting in Florida in May 2021. This was after Florida’s governor, Ron DeSantis, approved a compact agreement with the tribe.

The DC Circuit Court of Appeals filed the denial yesterday (28 September).

“Upon consideration of appellees’ motion to stay issuance of the mandate pending the Supreme Court’s disposition of a petition for writ of certiorari or, in the alternative, to stay issuance of the mandate for a reasonable time to permit appellees to seek a stay from the Supreme Court, and the opposition thereto, it is ordered that the motion be denied,” read the filing.

Gary B..

September 28, 2023

Kambi scores extended sportsbook deal with Sweden’s ATG

Kambi Group has signed a multi-year extension to its sportsbook partnership with Swedish horse racing and sports betting operator AB Trav och Galopp (ATG).

Under the deal, which extends a relationship that began in 2018, Kambi will provide ATG with its complete sportsbook. This covers sport betting across online and ATG’s retail network of nearly 1,500 outlets in Sweden.

Kambi has been able to renew the partnership after recently securing new approvals in the Swedish market. The provider picked up its B2B gambling permits in June in line with new regulations in the country that require suppliers to hold a B2B licence.

“Our strategy has always been to power market leaders or those with the potential for market leadership,” Kambi co-founder and CEO Kristian Nylén said. “In ATG we have a valued partner that has achieved just that since launching with Kambi in 2019.

“A sportsbook which offers the flexibility for operators to differentiate is vital in such a highly competitive market. ..

September 28, 2023

Kentucky opens legal online sports betting market

Kentucky will today (28 September) launch legal online sports betting, just weeks after the state also opened its regulated retail wagering market.

Governor Andy Beshear signed off on House Bill 551 in April, legalising both online and retail betting. The retail market opened on 7 September, with online delayed until today as part of a staggered launch.

Each of Kentucky’s racetracks can partner with up to three online operators as well as offer on-site retail betting. Last month, the Kentucky Horse Racing Commission (KHRC) approved sports betting licences for a number of operators.

For the online market, the initial seven operators that applied secured a service provider licence. Bet365, BetMGM, Caesars, Circa, DraftKings, FanDuel and Penn Sports Interactive all picked up licences.

Fanatics, which did not appear on the original list, was also approved to launch online sports betting. In addition, the KHRC issued a service provider licence to Kambi, although this only covers retail ..

September 28, 2023

Betsson secures online sports betting licence in France

Betsson has set out plans to launch in France after securing a licence to offer online sports betting in the country.

The operator says it will collaborate with a local partner in France to support its venture into the country’s regulated market.

Betsson did not reveal the identity of its new, France-facing partner but did confirm that it intends to go live in the country during the fourth quarter. The operator also says it will be active in France under the core Betsson brand.

“I’m pleased that Betsson has obtained a licence to offer sports betting in France,” Betsson president and CEI Pontus Lindwall said. “It is an important gaming market in Europe with great long-term potential for online gaming.

“By combining our knowledge and experience as a global gaming operator with the local expertise of our partner, we can offer an unbeatable customer experience in sports betting in France.”

Ongoing expansion at Betsson

Betsson says the launch links in with its wider expansion strate..

September 28, 2023

WagerWire pens marketplace technology sports betting deal with SB22

Marketplace technology and media business WagerWire has entered into a new partnership with sportsbook platform provider SB22.

Under the deal, WagerWire’s proprietary marketplace technology will be integrated into the sports betting products SB22 builds for its customers.

Bets will be tradeable inside SB22 customers’ applications via an in-sportsbook marketplace, as well as on the WagerWire app.

“WagerWire’s mission is to improve the betting experience through advanced betting capabilities, open market efficiency and engaging content and media,” WagerWire co-founder and CEO Zach Doctor said.

“By unlocking secondary market activity for sports bets, and the social engagement that happens on top of this marketplace, WagerWire is an engine for leveraging an operator’s audience into the most active, engaged and passionate customer base in the industry.

SB22 chief commercial officer Vik Shrestha says the deal offers added value to customers and helps differentiate SB22 products.

“It w..

September 28, 2023

Envisioning a world beyond bonuses

With the industry’s most tried-and-tested incentives being curtailed by regulators across Europe, many operators are looking at new ways to attract and retain players. Among the alternative options being considered is free fantasy football, writes Jacob Kalms, CEO and co-founder of 20Shots.

Bonuses have long been one of the most relied-upon tools in online gambling operators’ armoury, and with good reason.

There’s no denying that bonuses are a proven way to both attract and retain players. But across Europe, rightly or wrongly, there seems to be a growing view among regulators that they might be working a bit too well for gambling companies and that this is to the detriment of players.

We’ve already seen countries such as Spain, Sweden and Denmark bring in restrictions on what bonuses operators can offer. France indicated last year that it intends to follow suit. The publication of the UK government’s Gambling Act review white paper, and now the Gambling Commission’s ongoing consult..

September 27, 2023

Portugal online gambling revenue reaches record €205.9m in Q2

Online gambling revenue in Portugal amounted to a record €205.9m (£179.1m/$217.5m) in the second quarter, driven by growth within the internet casino segment.

Revenue was comfortably higher than €145.2m in Q2 of 2022. The figure was also up 4.9% on the existing record of €196.4m set in Q1 this year.

Online games of chance accounted for €122.0m of all revenue in the quarter, up 51.6% on last year. This was a new record for the segment, according to regulator the Gaming Regulation and Inspection Service (SRIJ).

Players spent €3.24bn on internet casino games during Q1, another new record for Portugal. Slot machines drew 82.5% of all online casino spend, with French roulette at 7.6% and then blackjack on 5.4%.

Turning to sports betting, revenue in this sector reached €84.0m, up 29.8% on 2022 but a slight drop from Q1 this year.

Consumer spending on sports betting reached €357.6m during the quarter. This was 17.1% more than the same period last year but 19.0% lower than in Q2. It was a..

September 27, 2023

Arizona sports betting spend hits $323.2m in July

Sports betting spend in Arizona fell for the fourth consecutive month in July to $323.2m, although this was up 11.3% year-on-year.

Monthly handle in Arizona was higher than $290.5m in July last year. However, player spend on sports betting was 17.8% less than $393.2m in June this year.

Of this total, $320.2m was wagered online, while the remaining $2.4m was spent betting at retail sportsbooks across Arizona.

Consumers won a total of $287.9m from sports betting in July. This left $34.6m in adjusted gross event wagering revenue before free bets, up 38.4% on last year and 24.9% ahead of June.

Revenue from online sports betting hit $34.3m, while retail’s shared amounted to $151,222 for the month of July.

Almost $8.0m worth of free bets issued in Arizona

When discounting $7.7m in free bets and promotional credits – almost entirely from online betting – adjusted gross revenue hit $26.8m. This was up 78.7% from $15.0m in July 2022 and 63.4% higher than $16.4m in June this year.

Online ..

September 27, 2023

Waterhouse VC: Ordem e progresso

In his latest column, Tom Waterhouse of Waterhouse VC analyses the burgeoning sports betting market in Brazil after the country's recent regulation.

“Order and Progress”– The national motto of Brazil, inscribed on the Brazilian flag.

The motto is an allegory for Brazil’s new reforms to regulate the country’s US$1.5bn (£1.23bn/€1.41bn) wagering industry.

With 214 million people and 217 indigenous languages in addition to Portuguese, Brazil is a large and complex market. It is also one of the largest online sports betting markets in the world, with 42.5 million unique users. Wagering operators are generating significant revenues in Brazil by leveraging influencer marketing and numerous sports sponsorship deals.

Brazil’s historic and forecasted wagering revenue across online casino, online lottery and online sports betting. Source: Statista

Brazil’s Chamber of Deputies recently passed a gambling regulation act. This act allows online gaming and omnichannel wagering, with operato..

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Tag: Sports betting