Sports betting Archives

April 13, 2023

Indiana sports betting handle declines in March

Consumer spending on sports betting in Indiana fell year-on-year in March, although the state was able to report an increase in revenue.

Wagering handle for the month amounted to $433.0m, down 9.1% from $476.8m in March 2022 but 21.5% higher than $356.2m in February of this year.

Basketball remained by far the most popular sport among bettors, drawing $224.3m in total wagers for the month. Players also spent $71.7m on baseball betting, $1.6m on football and $71.7m on other sports, as well as $127.9m on parlay bets.

To read the full story visit iGB North America

April 13, 2023

Beter to move distribution in-house

Content and data provider Beter will move its content distribution system in-house as part of a new strategy to strengthen and expand its operator partnerships.

The basketball, MMA, esports, table tennis and igaming content supplier said that it wants to have greater control over the distribution of its content among its network of operator partners.

Beter has enjoyed “incredible success” in recent months, it explained, and intends to strengthen its existing partnerships, as well as work with more tier-one brands globally.

“We have made the strategic decision to take more control over the distribution of our content,” said Beter CEO Gal Ehrlich. “This decision is not a reflection of the incredible work our partner has done on our behalf, but rather an opportunity to align our distribution strategies with our long-term goals.

“We are confident that by taking a more active role in the distribution of our content, we will be better positioned to deliver on our commitment to provide t..

April 13, 2023

BGC welcomes MP support for Grand National charity bet initiative

The Betting and Gaming Council (BGC) said more than 40 MPs will support this year’s edition of its Grand National charity bet initiative.

MPs from a number of parties will visit a local betting shop to place a BGC Charity Bet on the British showpiece racing event, which takes place on 15 April at Aintree Racecourse as part of the Grand National festival.

Each participating MP will be given £50 to bet on a horse, with all the winnings going to a charity of their choice. Should their bet not win, BGC members will make a £250 donation to the MP’s nominated charity.

MPs can visit a Paddy Power, William Hill, Ladbrokes, Coral, Betfred or local independent betting shop in their constituency to place the charity bet ahead of the race this weekend.

Levelling Up minister Dehenna Davison, shadow DCMS minister Alex Davies-Jones, minister for Enterprise Kevin Hollinrake and COP26 president Alok Sharma are among the MPs that will take part in the initiative this year.

Shadow defence secretary..

April 12, 2023

Prophet Exchange receives over $10 million in funding

New-Jersey based betting exchange, Prophet Exchange (Prophet), has acquired over $10.0m in funding to advance its peer-to-peer, high frequency exchange.

The company is backed by funds from MIXI Inc, Ninjabet.com and Chicago Trading Company. In a statement by Prophet Exchange, it says the backing by these companies is “a validation for their peer-to-peer exchange model”.

In regard to the peer-to-peer model, chief operating officer and co-founder, Jake Benzaquen states that “to be frank, something has always bothered us about ‘the house always wins'”.

“At Prophet, we win only when the user wins,” Benzaquen said. “As the first pro-consumer betting exchange in the country, we believe it’s time for the house to lose a few hands.”

Prophet aims to use these funds to work towards profitibility and grow its tech offering. Additionally, it is to develop consumer-based functions such as increased liquidity, growing the roster of events and offering smart-wallet technology.

Chief exe..

April 12, 2023

New York online sports wagers reach $16.40bn in FY22

Consumers in New York spent $16.40bn betting on sports online during the first full financial year of regulation in the US state, while revenue for the period reached $1.46bn.

New York opened its legal online sports betting market in January last year and the state’s 2022 financial year ran from April 2022 through to the end of March this year.

During the opening year, Flutter Entertainment-owned FanDuel Group led the market with $756.0m in gross gaming revenue from $6.82bn in total wagers.

Read the full story on iGB North America

April 11, 2023

US: Gaming “significantly” more diverse than workforce

A new report by the American Gaming Association (AGA) has revealed that the gaming sector is “significantly” more diverse than the US workforce as a whole.

According to the trade association, 61% of employees in the gaming sector are racial minorities compared to 52% of the broader hospitality industry and 42% of the total US workforce.

This comprises the 23% of those working in hospitality coming from Hispanic backgrounds, and the 19% who are black, both of which is above the total US workforce in general, and in line with the hospitality industry in specific. The 14% of employees who are of Asian descent means that the group is over-represented in the sector at around twice the national average.

The gaming sector is now “significantly” more diverse than both the hospitality sector and the US workforce as a whole

“Consumers, policymakers and investors are raising their expectations for all businesses on how they contribute to society beyond the bottom line,” said AGA president an..

April 6, 2023

2023 Masters Odds Tracker powered by Kambi

April 6, 2023

Kambi agrees deal extension with BetPlay operator

Sports betting supplier Kambi Group announced an extension of its sportsbook deal with Colombian BetPlay operator Corredor Empresarial SA.

The deal is the second renewal of the initial agreement that the two parties first signed in 2017, since which BetPlay has become the Colombian market leader.

The provider said that the Latin American has become a “key market” for the supplier, with BetPlay utilising a number of Kambi’s technology and services, including its Bet Builder product.

“We are pleased to agree a long-term extension to our successful partnership with Corredor Empresarial, providing its customers with next generation betting entertainment,” said Kambi CEO and co-founder Kristian Nylén.

“The Latin American market continues to hold great promise for Kambi and we look forward to aiding Corredor Empresarial as it expands across the region with Kambi’s cutting-edge complete sportsbook.”

As part of the renewal contract, the provider will continue to power BetPlay’s sportsbook..

April 6, 2023

Intralot pens sports betting deal with BCLC

Intralot Inc, the US subsidiary of Intralot, has entered into a sports betting partnership with the British Columbia Lottery Corporation (BCLC).

Under the three-year deal, which includes an option of three annual extensions, Intralot will provide the BCLC with its Intralot Orion sports betting platform Orion and relevant managed services to enable the operations and management of the BCLC’s retail sportsbook.

Read the full story on iGB North America

April 6, 2023

Missouri sports betting efforts stall in senate

Efforts to authorise sports wagering in the Missouri hit a brick wall on Wednesday as proponents of video lottery terminals (VLT) sought to introduce a number of poison pill amendments to the bill.

Senate Bill 30 – which has the support of both casinos and major professional sports teams – seeks to legalise sports wagering in Missouri.

All of the state’s neighbours have either authorised sports betting, or are in the process of doing so. Last week, the Kentucky governor, Andy Beshear, signed House Bill 551 into law, paving the way for state-wide sports betting, and making Missouri one of the final states in the region to legalise the activity.

The proposed law – introduced by Senator Tony Luetkemeyer – is the companion bill to House Bill 556, which was sponsored by a bi-partisan coalition of Republicans and Democrats.

Casinos in Missouri – many of which are casino boats – will be able to partner with up to three operators

The legislation would allow each licensed casino in the sta..

April 5, 2023

DC sports betting revenue up in February despite handle decline

Sports wagering revenue in Washington DC increased year-on-year during February despite a fall in player spending.

Gross gaming revenue for the month reached $1.2m, which was 62.0% ahead of $740,552 in the same month last year but 20.0% lower than $1.5m in January 2023.

DC’s sports betting handle in February amounted to $12.6m, down 34.0% from $19.1m in February 2022 and also 21.9% behind $18.5m in January of this year.

Gambet, operated by the DC Lottery and powered by Intralot, remained the frontrunner in the market with $626,273 in revenue from $5.7m in total wagers for the month.

Read the full story on iGB North America

April 5, 2023

FanDuel partners Spotify for content production

Flutter Entertainment-owned FanDuel Group has agreed a multi-year content production partnership with global streaming audio platform Spotify.

Under the new agreement, which builds on an existing partnership between the two parties, FanDuel will work with Spotify’s “The Ringer” website, podcast network and video production house to create content for FanDuel TV.

The Ringer will license select video podcasts to FanDuel TV including existing shows adapted for FanDuel TV and a number of new shows covering sports and competitions such as the National Basketball Association (NBA).

Read the full story on iGB North America

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Tag: Sports betting