Sports betting Archives

August 30, 2023

Nascar seeks US betting boost through Sportradar deal

National Association for Stock Car Auto Racing (Nascar) is seeking to boost its profile within US sports betting through an expanded partnership with Sportradar.

A four-year deal between Nascar and Sportradar will now feature official betting data. The deal extends their long-term media data rights partnership that covers live timing and scoring data.

Nascar said sports betting on its events has increased exponentially since it signed its first agreement covering the sector. Betting operators saw a 51.5% year-on-year increase in the total amount of money wagered on the sport in 2022.

“As the sports industry’s leading technology company and a trusted partner of sportsbooks and media companies, Sportradar is uniquely positioned to support Nascar in capturing commercial opportunities,” said Eric Conrad, Sportradar’s executive vice-president of strategic partnerships and content.

“Our ability to leverage these rights in the marketplace will ultimately enrich the Nascar experience for f..

August 30, 2023

Bet365 grabs Arizona licence

Stoke-based online gambling operator Bet365 has been cleared to offer sports betting in Arizona through one of the three remaining available tethered licences.

On Tuesday, the Arizona Department of Gaming (ADG) announced it had authorised Bet365 for an event wagering licence through a market access agreement with the Ak-Chin Indian Community, a federally recognised tribe and one of the state’s 20 licence holders.

This marks the seventh state in which Bet365 has received a licence. The operator is already live in Ohio, Virginia, New Jersey, Iowa and Colorado.

Also on Tuesday, Bet365 announced it had begun its pre-registration period in Kentucky with an eye towards a 28 September launch. This comes after receiving a temporary licence to operate in the Bluegrass State the week prior.

Bet365 will take the place of Fubo Sportsbook, which had previously operated in the state through Ak-Chin’s licence. In October 2022, the streaming provider announced it would be closing its sportsbook wi..

August 25, 2023

Nascar secures micro-betting partnership with nVenue

North American stock car racing association Nascar has entered into a multi-year partnership with micro-betting technology provider nVenue.

Under the deal, nVenue will become an official micro-betting data and technology provider to Nascar. This will see nVenue develop in-race micro-betting markets and predictive content for fans across the US.

nVenue will work directly with the league to design and develop in-race odds. These will include non-traditional betting markets such as stage results, qualifying and pit road betting opportunities.

In addition, nVenue will use live racetrack data and historical race data points to create predictions and odds. This covers each race and driver.

“This collaboration epitomises a shared vision to entertain fans and enhance the race viewing experience,” Nascar’s managing director for sports betting, Joe Solosky, said. “We’re thrilled to pair our racing product with expert technology like nVenue’s to bring micro-betting to Nascar fans going forwa..

August 25, 2023

FansUnite expects to save $7.1m from DragonBet migration

FansUnite Entertainment has reached an agreement with UK-based sportsbook DragonBet to migrate off its Chameleon Gaming platform as part of a strategy to streamline its business operations.

DragonBet will migrate off the white label betting platform on or around 3 September. This is despite the Welsh-facing brand having only joined the platform last year under a deal with FansUnite.

The migration comes after FansUnite in May agreed to sell the Chameleon source code to Betr. Under the deal, Betr is paying a total of $7.4 to take ownership of the platform.

FansUnite said the combined impact of the sale and DragonBet migration will result in approximately $7.1m (£5.6m/€6.6m) in annualised cost savings.

These savings include reductions in salary and selling, general and administrative costs. The business said these will be reflected in its financial results once the wind-up of operations of the Chameleon platform completes.

FansUnite added that it expects to generate positive cash flo..

August 25, 2023

Fanatics expands retail network with new Columbus sportsbook

Fanatics Betting and Gaming (FBG) has announced the opening of its latest retail sportsbook in the Arena District of Columbus, Ohio.

The venue is operating in partnership with National Hockey League franchise the Columbus Blue Jackets. The sportsbook is located near to the team’s Nationwide Arena home.

On-site facilities include four betting windows, 14 self-service betting kiosks, a giant LED video wall and 20 TV monitors. Customers can place bets on a range of major sports such as football, basketball, hockey and baseball.

“A great day to be a Buckeye at the Fanatics Sportsbook Columbus”

At a special opening event held yesterday (24 August), Ohio sports legends former NFL star Ryan Shazier and long-time Blue Jackets player RJ Umberger placed the ceremonial first bets at the new sportsbook.

The launch comes a month after FBG announced its partnership with the NHL team.

“It was a great day to be a Buckeye at the Fanatics Sportsbook Columbus,” FBG chief business officer Ari Borod ..

August 25, 2023

Entain CEE adds another piece to the puzzle with STS

Entain CEE’s £750m acquisition of STS Holdings gives Entain access to Central and Eastern Europe's (CEE) largest economy, Poland. For Mikolaj Cymerman, head of corporate development at Entain CEE, this is just the first step.

The deal for the Polish sportsbook market leader marks the second acquisition made by Entain CEE, a joint venture between Entain and investment management company Emma Capital.

It’s also a major milestone for the two parties. Getting a foot in the door will allow Entain to make serious inroads in the CEE market, one already somewhat carved out by its first acquisition – of Croatia’s SuperSport – last year.

Mikolaj cymerman, head of corporate development, Entain CEE

“Once SuperSport happened, people were thinking ‘OK, so they’ve bought SuperSport and that’s it’,” Cymerman explains. “But now with STS, this kind of structure starts to unravel and people are seeing that this wasn’t a one-trick pony.”

It was this first acquisition that set the wheels in motio..

August 23, 2023

Dazn Bet granted German sports betting licence

Online sports betting and casino operator Dazn Bet has been authorised to offer sports betting in Germany.

Dazn Bet is owned by sports media streaming service Dazn. It was first formed in April 2022, as part of a partnership with Pragmatic Gaming. It was added to the sports betting section of Germany’s white list.

The operator joins the likes of Jackpot50, 888 and Tipico on the list.

Dazn Bet, which is registered in Malta, will operate under the Daznbet.de domain.

The white list came about with the establishment of Germany’s gambling regulator, Gemeinsamen Glücksspielbehörde der Länder (GGL). The GGL was brought forth by Germany’s Fourth State Treaty on Gambling (GlüNeuRStv), which came into force in July 2021.

Germany’s gambling regulator

The GGL was established in July 2022. It officially took over all tasks from its predecessor, the Saxony-Anhalt State Administration Office, in January 2023.

Its responsibilities range from issuing licences to combatting illegal gambling in..

August 23, 2023

Michigan online gambling revenue tops $176m in July

Combined online sports betting and casino revenue in Michigan increased 18.8% year-on-year to $176.1m (£138.8m/€162.7m) in July, while the state also reported a month-on-month rise.

Gross receipts were comfortably ahead of $148.2m in July 2022 and also 4.0% more than $169.3m in June this year. The total also halted three consecutive months of decline in Michigan.

Online casino gaming gross receipts reached $153.6m in July, up 21.3% on last year and 1.7% ahead of June’s total.

Gross sports betting receipts were 4.2% higher year-on-year at $22.5m and 23.0% more than in June. This was despite handle falling 10.8% from $225.0m in July 2022 to $200.8m, with spend also 11.9% lower than in June.

July adjusted gross receipts up 17.8%

In terms of adjusted gross receipts, which account for promotional spending, Michigan also reported growth.

Combined igaming and sports betting adjusted gross receipts amounted to $154.6m. This was 17.8% ahead of last year and 5.8% higher than June’s total…

August 23, 2023

Sportradar scores betting data deal with US Soccer

Sportradar has entered into a global partnership with US Soccer, the national governing body for the sport, covering exclusive rights to betting data and content distribution.

Under the deal, Sportradar becomes US Soccer’s official betting data partner. Sportradar will have exclusive rights to collect, licence and distribute the federation’s official betting and media data.

The agreement enables Sportradar to provide the data to its global network of more than 900 regulated betting operators.

Sportradar also takes exclusive distribution rights for the live AV streaming of US Soccer competitions for betting purposes. This will only be available outside of the US.

The deal covers more than 111 matches per year across US men’s and women’s national team competitions.

Sportradar and US Soccer will also collaborate on the development of bespoke data-driven solutions. This is with the aim of deepening existing fan relationships, attracting and engaging new supporters and increasing oppo..

August 23, 2023

Kentucky approves online and retail sports betting licences

The Kentucky Horse Racing Commission (KHRC) has voted to approve sports betting licences for a number of online and retail operators, ahead of the state opening its legal market next month.

Temporary licences cover up to one year of operation in Kentucky, with holders to be continuously reviewed during the period. Licences were approved for sports wagering operators and service providers at a meeting yesterday (22 August).

Kentucky is due to launch regulated retail sports wagering on 7 September, with online to follow on 28 September. Pre-registration for online accounts will open next week.

The initial seven online operators that applied earlier this month all 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 Kentucky. In addition, the KHRC issued a service provider licence to Kambi, alt..

August 22, 2023

CDI closes deal for historical racing specialist Exacta

Horse racing operator Churchill Downs Incorporated (CDI) has closed its acquisition of historical horse racing provider Exacta Systems.

The $250m deal allows Churchill Downs to realise significant and immediate synergies, the operator explained.

Its tracks in Virginia, Colonial Downs and Rosie’s Gaming Emporium, already house Exacta historical racing machines. This means it takes charge of the full value chain.

More historical horse racing machines (HHRMs) will be rolled out across its other properties.

Churchill Downs flexes B2B muscle through acquisition

Exacta will fold into CDI’s B2B subsidiary TwinSpires, providing content to its current third-party clients in Kentucky, Wyoming and New Hampshire.

This arm, formerly CDI’s operating business repurposed as a B2B proposition, already powers DraftKings’ horse racing app DK Horse.

August 22, 2023

Commission-free exchange Novig raises $6.4m in pre-seed round

Commission-free sports betting exchange Novig has raised $6.4m (£5.0m/€5.9m) in a pre-seed funding round from a number of well-known tech investors.

New York-based firm Lux Capital led the investment round into Novig, with participation from several prominent Silicon Valley venture capitalists.

These include famous start-up accelerator Y Combinator, the inventor of the Lisp programming language Paul Graham and Dropbox co-founder Arash Ferdowsi. Also investing is former San Francisco 49ers quarterback Joe Montana.

Novig CEO Jacob Fortinsky said the business was “honoured” to have the support of the tech investors.

novig ceo jacob fortinsky

“Our vision is clear: to reshape the sports betting landscape that has long favoured exploitation over innovation and to usher in an era of integrity, transparency and empowerment,” he added. “Together, we’re rewriting the rules and putting the power back in the hands of bettors.”

Novig plans October launch date

Novig completed the investment r..

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Tag: Sports betting