Sports betting Archives

June 20, 2023

NJ gambling revenue continues to rise in May despite land-based declines

Gambling revenue in New Jersey increased month-on-month and year-on-year during May despite the state’s land-based market experiencing further declines.

Total revenue for the month amounted to $470.9m, which was 9.4% ahead of $430.6m in May 2022 and 1.8% higher than $462.7m in April of this year.

Land-based gambling remained the primary source of revenue at $227.3m, but this was down 2.4% from $227.3m last year.

Within the retail sector, slots revenue slipped 0.8% to $172.9m, while table games revenue also fell 7.3% to $54.4m.

In terms of internet gambling, revenue increased by 18.7% year-on-year to $161.4m. Online slots revenue jumped 19.0% to $159.1m, while peer-to-peer poker also edged up 1.7% to $2.4m.

Read the full story on iGB North America

June 19, 2023

Kambi and LeoVegas extend sportsbook partnership

Kambi and LeoVegas have agreed to a multi-year extension of their existing sportsbook partnership.

As part of the extended agreement, Kambi will continue to supply its sportsbook technology and services to LeoVegas.

This is the second renewal of the partnership, which first began in 2016. The first renewal took place in 2020.

Kristian Nylén, chief executive officer and co-founder of Kambi, said that the partnership renewal spoke to Kambi’s sportsbook capabilities.

“We are delighted to extend our sportsbook partnership with LeoVegas Group, a world-leading operator with a strong track record of success,” said Nylén.

“Renewing this partnership for a second time is a further testament to the strength of Kambi’s cutting-edge technology and services as we continue to pioneer next generation betting entertainment for players across the globe.”

Strategic developments

In this year alone, both Kambi and LeoVegas have made significant moves in the sports betting space.

In April, Kambi ext..

June 19, 2023

Sweden’s channelisation rate at “critically low” 77%

A report published by Sweden's Online Gaming Industry Association (BOS) has revealed that 77% of Sweden's online gaming market is channelised, a percentage the association called “critically low”.

Sweden’s channelisation goal – the percentage of licensed gaming offerings it wishes to have on the market – is currently set at 90%.

BOS commissioned Swedish survey organisation SKOP to analyse channelisation rates for online gaming in the country, looking at specific categories such as sports betting and online casino.

Gustaf Hoffstedt, secretary-general at BOS, emphasised the seriousness of the low channelisation rate.

“There is no doubt that the Swedish licensing system is in a serious situation,” said Hoffstedt. “Far too much power has been spent on the part of the state to force the licensed gambling companies to implement measures that have not been well received by gambling consumers.”

He added that reversing this development would require the regulator, Spelinspektione..

June 19, 2023

Romanian tennis player banned over anti-corruption breaches

The International Tennis Integrity Agency (ITIA) has banned Romania’s Petru-Alexandru Luncanu for five years over a series of anti-corruption breaches.

Luncanu, who reached a career-high ATP singles ranking of 304 in 2009, was found to have breached the Tennis Anti-Corruption Programme (TACP) on multiple occasions.

These included contriving the outcome or any other aspect of several matches and directly or indirectly facilitating tennis wagering.

independent anti-corruption hearing officer (AHO) Raj Parker upheld five of seven charges brought by the ITIA. These charges were for match-fixing in 2017 and 2021. An additional charge of failing to co-operate fully with the ITIA’s investigation in 2022 was also upheld.

Luncanu denied all charges. However, the ruling means he cannot coach at or attend any tennis event authorised or sanctioned by the governing bodies of tennis until 8 June 2028. He was also fined $40,000 (£31,208/€36,588).

TACP breaches

Specific breaches of the TACP incl..

June 16, 2023

BHA will not be “coerced” into televised debate

The British Horseracing Authority (BHA) has said that it will not be “coerced” by animal rights group Animal Rising's promise to halt protest action during the summer if the BHA partakes in a televised debate about the “morals of horseracing”.

Animal Rising made the claim earlier today (16 June) at a press conference. Julie Harrington, CEO of the BHA, said that the association will not be forced to conduct “any activity by threats of protest”.

“At a press conference today, Animal Rising said they will cease their protest activity this summer if British racing agrees to take part in a public debate about “the morals of horseracing,” Harrington said. “We will never allow British horseracing to be coerced into any activity by threats of protests.”

Harrington said that Animal Rising’s protests at the 2023 Epsom Derby – which the BHA hailed as “reckless and dangerous” last week – shows that their public declarations are not trustworthy.

“Animal Rising have shown by their reckless a..

June 16, 2023

DC sports betting handle continues to decline in May

Player spending on sports betting in Washington DC fell again in May, although revenue was up month-on-month.

Handle for the month stood at $12.5m, which was 27.3% lower than $17.2m in May 2022 and also 17.2% down from $14.5m in April this year.

However, gross gaming revenue in May amounted to $2.0m, level with the same month last year and double the $1.0m generated in April.

Caesars Entertainment claimed top spot in revenue terms after collecting $818,817 from a $4.6m handle.

Read the full story on iGB North America

June 16, 2023

DraftKings enters race to acquire PointsBet US

DraftKings is looking to outbid Fanatics for PointsBet US, prompting a strong reaction from the ecommerce giant's CEO Michael Rubin.

Tabled today (16 June) – weeks after Fanatics announced plans to acquire the business – the unsolicited non-binding indicative proposal is worth $195.0m (£152.2m/€178.5m). It states DraftKings would purchase the business on a debt-free, cash-free basis with no financing conditions.

PointsBet said its board will now assess the proposal. The group added that the proposal does not constitute a binding offer or commitment from DraftKings to place a firm bid.

The group did not set a date as to when a decision would be reached.

Fanatics’ Rubin: “They are trying to block us”

Responding to news of the DraftKings proposal, Fanatics CEO Rubin said he was “skeptical” of the move. He added that it was a “desperate” attempt to slow progress on Fanatics’ own deal with PointsBet.

“We are skeptical of the DraftKings proposal, which seems like a desperate move ..

June 15, 2023

Where are the next big US sports betting wins?

A few states, one of which is Texas, are on the shortlist to legalise or make significant legislative progress on sports betting this year. Just a few months ago, Missouri would’ve been considered too, but the Show-Me State didn’t show us anything except for the latest in a five-year string of sports betting failures.

Other states – Maine, Kentucky and Nebraska – are making progress in sports betting legislation. All three states are in the regulation phase, with launch dates to be determined.

Meanwhile, in the last day, Vermont and North Carolina have passed sports betting into law.

Which states, then, will join them? And what will the impact be on the big-picture US sports betting market?

Who’s on first?

North Carolina governor, Roy Cooper, signed House Bill 347 into law yesterday (14 June), following weeks of build-up. This, plus Vermont’s legalisation of sports betting puts an end to sports betting legislative journeys for two US states.

Almost every expert we spoke to also ..

June 15, 2023

Vermont governor signs sports betting bill into law

Vermont has become the latest US state to legalise sports betting after governor Phil Scott signed a bill into law.

House Bill 127 was introduced earlier this year and passed through the state’s house and senate before landing on Scott’s desk last week.

Scott, a long-term supporter of sports betting, signed off on the bill yesterday (14 June), clearing the way for the market to open next year.

“I first proposed Vermont legalise sports betting several years ago and I’m happy the legislature has come to an agreement as well,” Scott said. “We know many Vermonters already participate in the marketplace and bringing it above board provides important resources and consumer protections.

“Vermont now joins many other states who have made this move, and I want to thank Commissioner [Wendy] Knight and her team, as well as members of the legislature for their collaborative approach on this issue.”

Read the full story on iGB North America

June 14, 2023

North Carolina governor signs sports betting into law

North Carolina has legalised sports betting, after governor Roy Cooper signed House Bill 347 into law today.

The path to legalisation has been winding, with efforts ramping up in the last few months. The bill was voted through by the state House last week, after it was voted through the state Senate one week prior.

It was first introduced on 13 March. The bill in its final form was presented to the governor on 9 June.

Read the full story on iGB North America

June 14, 2023

Arizona sports betting revenue up despite handle fall in March

Consumer spending on sports betting in Arizona fell 6.7% year-on-year in March, although the state was able to report a rise in revenue.

Wagering handle for the month was $644.8m, down from $691.0m in March 2022 but 5.8% higher than $609.3m in February of this year.

Players bet $639.9m online and $4.1m at retail sportsbooks across the state.

Bettors won a total of $591.2m during March, while adjusted gross event wagering revenue before free bets was $53.4m. This was 43.6% ahead of $37.2m last year and also 57.1% more than $34.0m in February this year.

Of total revenue, $53.0m was attributed to online wagering, while the remaining $318,760 came from retail betting.

Read the full story on iGB North America

June 14, 2023

Gambling Related Harm APPG launches white paper inquiry

The Gambling Related Harm All-Party Parliamentary Group (APPG) has launched an inquiry into the British government’s Gambling Act white paper review.

Published in April, the long-awaited white paper covered a range of major topics regarding gambling and future regulation in Great Britain.

The APPG-led inquiry, which launched today (14 June), will assess all proposed measures put forward in the white paper. The inquiry will also seek to hold the government to account and ensure reforms are taken forward quickly.

In addition, the inquiry will ensure where commitments have been made to legislate “when parliamentary time allows”, these are pursued as a priority. These include handing greater powers to the Gambling Commission to support enforcement.

Evidence deadline

The APPG will hold a series of oral evidence sessions as part of the inquiry and also accept evidence or submissions from interested parties. Any feedback must be submitted by 11 July.

The inquiry will seek opinion on opt..

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Tag: Sports betting