Sports betting Archives

February 1, 2023

Betfred pens partnership with NHL’s Vegas Golden Knights

Betfred USA Sports has signed a multi-year partnership with National Hockey League (NHL) team the Las Vegas Golden Knights.

A subsidiary of UK based Betfred Group, Las Vegas-based Betfred USA Sports began its operations in 2019. The company has expanded its reach across the US, most recently launching products in Maryland and Arizona.

As part of the new deal, Betfred is now an official sports betting partner of the team.

“We’re proud to be partnering with Betfred as they make their arrival here in Las Vegas,” said Golden Knights president Kerry Bubolz. “Betfred’s US business is Vegas born just like we are, and we’re excited to help them launch their brand in Nevada.”

The partnership will include interactive contests for fans during intermission at select home games and signage at T-Mobile Arena.

Additionally, Betfred branding will be incorporated into the NHL’s new digitally enhanced dasherboard (DED) broadcast signage and will feature on the Knight’s official digital channels, ..

January 31, 2023

Massachusetts’ sports betting market launches

Category 1 license holders can officially offer retail sports betting in Massachusetts from today (31 January), with mobile wagering to follow in March.

Sports betting was officially signed into law in August last year by then-governor Charlie Baker.

After the 21 November deadline to apply for licences passed, the MGC revealed that 15 operators had submitted applications. Initially, 29 operators expressed an interest in applying.

Read the full story on iGB North America

January 31, 2023

US sports betting: Online market share

H2 breaks down market share in part three of this in-depth analysis of the US sports betting market, and whether today's dominant brands will stay in pole position.

H2 Gambling Capital produces state by state, monthly online, retail and total US sports betting market share data by operator, utilising state-reported data and estimates for states where data isn’t reported, as well as incorporating company reported data.

FanDuel’s dominant position

FanDuel has become the clear market leader in terms of online sports betting. While other operators may have managed to generate a similar market share of handle in some states, FanDuel’s structurally higher margin (due to a superior parlay betting product and arguably best in class risk management) has led to a substantial market share lead in terms of gross win.

While the focus is on gross win, a number of states split out promotional activity, and share of net revenue is the key metric. Looking at a state such as Pennsylvania shows..

January 31, 2023

Rhode Island reveals year-on-year sports betting growth in December

The Rhode Island Lottery reported a year-on-year increase in both sports betting revenue and handle for December, driven by mobile wagering.

Player spending in December amounted to $59.2m, which was 7.8% higher than $54.9m in the same month in 2021, and only slightly lower than $61.2m in November.

Of this total, $36.7m was spent betting online, while the remaining $16.5m was wagered by consumers at the state’s two retail sportsbooks, split $15.3m at Twin River and $7.2m the Tiverton Casino.

Read the full story on iGB North America

January 31, 2023

Massachusetts launches sports betting voluntary self-exclusion scheme

The Massachusetts Gaming Commission (MGC) has launched a new voluntary self-exclusion (VSE) scheme for sports betting ahead of the launch of the state’s legal wagering market.

Massachusetts is due to open its regulated sports betting market today (31 January), with the self-exclusion initiative allowing people to opt out of betting with licensed online and land-based operators in the state.

Consumers wishing to register for the scheme can do so via GameSense either over the phone, online or at land-based GameSense centers within Massachusetts.

Read the full story on iGB North America

January 31, 2023

Entain pens retail horse racing content deal with SIS

Entain has entered a new long-term horse racing production, distribution and content deal with Sports Information Services (SIS) for its UK retail network.

Under the agreement, Entain will have continued use of patented production technology from SIS across its flagship Ladbrokes and Coral retail stores in the UK and Ireland until December 2030.

The deal also covers the distribution of live racing content across satellite and IPTV, until December 2028, from SIS’ portfolio of more than 30,000 horse races annually over 170 racecourses across the globe.

“This new agreement allows us to continue to bring racing from all over the world to our customers in the UK,” Entain’s managing director for retail in the UK and Ireland, Andy Hicks, said.

“We’re offering a best-in-class experience through a combination of advanced broadcast production technology and content that fully satisfies our customers’ demand for exciting, high-quality and regular betting opportunities.”

SIS chief executive R..

January 30, 2023

US sports betting: The state of play

H2 Gambling Capital provides an overview of the state of the US sportsbook market today, with a sport-by-sport analysis, new insights on bet types and the role of free bets.

Sports betting is now legal in some form in 33 states, and $85bn of legal wagers have been made with licensed US sportsbooks in the past 12 months.

Jump to:

Sports betting gross win per adult

Free bets

By sport analysis

Bet type analysis

Despite a handful of states only allowing retail sports betting, over 90% of handle is generated through online / mobile sports betting.

In terms of gross win / customer losses, US-licensed sportsbooks have generated over $6.3bn in gross win (handle less prizes paid out) over the past 12 months, with just under 90% of this generated through online / mobile channels.

However, we note that gross win figures include free bets, so the actual net win (the actual customer losses) is much lower than this.

The hold margin can vary substantially on a month-by-month basis, due to s..

January 30, 2023

US sports betting in 2023: Where do we go from here?

May marks the fifth anniversary of PASPA's repeal, and US sports betting proliferating at pace. iGB's principal data partner H2 Gambling Capital analyses the current state of the market, and the forces that will drive continued growth.

Over the week starting 30 January, iGB will release H2 Gambling Capital’s latest in-depth analysis of the US sports betting market. Read part one here.

H2 Gambling Capital have assessed the major trends and developments of the past year of US sports betting which has seen over $85bn legal bets made across 33 states – 90% of which has taken place online.

The gross win generated over the same period totals over $6.3bn but H2 estimates that free-bets make up around 39% of this, indicating that net win came in at $3.8bn.

Commercially regulated sports betting is now available to 43% of the US adult population across 26 states which have a combined GDP of over $10tn. With this considered, H2 estimates that the average gross win per adult over th..

January 30, 2023

SIS pens 24/7 Live Racing deal with BetConstruct

BetConstruct will feature live racing content from Sports Information Services (SIS) as part a new partnership.

Under the terms of the deal, BetConstruct’s platform will integrate SIS’ offerings, starting with its 24/7 Live Racing Content.

This comprises of over 35,000 horse races and 38,000 greyhound events, taking place at over 170 racecourses across five continents.

SIS said the deal with the London-headquartered supplier represents an important step within its stated ambition of further developing relationships with leading platforms.

Andy Kelly, SIS’ commercial manager for UK and Europe, said: “We’ve been extremely open that SIS has a strategic goal of strengthening its partnerships with platforms and distributors.

“BetConstruct has an excellent global reach that allows for significantly more operators worldwide to have access to the best racing products on the market. It has also been a pleasure working with the BetConstruct team and I am looking forward to a long and succes..

January 30, 2023

Caesars Sportsbook opens at Downtown Grand Hotel & Casino

A new Caesars Sportsbook has launched at Downtown Grand Hotel & Casino in Las Vegas, Nevada.

The new venue marks the first Caesars Sportsbook location in downtown Las Vegas.

The sportsbook offers three betting windows, a number of self-service betting kiosks, an LED TV viewing wall and several odds boards.

Downtown Grand celebrated the opening of the sportsbook with a ribbon cutting ceremony and an appearance by author and professional gambler Anthony Curits.

“We’re known for delivering elevated hotel experiences and the new Caesars Sportsbook is no exception,” said Andrew Economon, general manager of Downtown Grand Hotel & Casino.

“We know our guests will enjoy the exceptional offerings of this all-new sports betting venue.”

Last week, Caesars Entertainment entered into a sports betting partnership with Raynham Park in Massachusetts.

January 27, 2023

James Arnold appointed CEO of The Football Pools

Industry executive James Arnold has been appointed chief executive of iconic British betting business The Football Pools.

Arnold began his new role earlier this month, at the start of the business’ centenary year.

He joins from Noel Hayden’s LiveScore Group, which runs the Virgin Bet and LiveScore Bet sports betting brands, where he spent three years first as chief operating officer, then chief commercial officer.

Earlier in his career, Arnold worked for the likes of Betway, Boylesports and SportingBet, holding a number of marketing and executive roles during his tenure with each operator.

He replaces Derek Lloyd, who had served as CEO of The Football Pools since July 2017.

Arnold said he was “delighted” to take charge of an iconic british brand

“I’m delighted to be joining such an iconic British brand at a time of significant change and development,” Arnold said.

“A lot of good work has already been done to reposition the company for growth and I look forward to working w..

January 27, 2023

HKJC blasts proposal to increase football betting duty to 80%

The Hong Kong Jockey Club (HKJC) has hit out at a proposal from the New People’s Party (NPP) to increase the region’s football betting duty by an additional 30%, saying the plan lacks “understanding”.

The current rate is set at 50% on net stake receipts, but the NPP proposal would increase this to 80%, which in turn would mean the HKJC would have to pay significantly more tax.

The HKJC estimated that if the duty change were to be approved, the amount it pays in tax would jump from the current HK$25.00bn (£2.58bn/€2.94bn/US$3.19bn) to HK$31.00bn, while revenue would fall from HK15.00bn to HK$9.00bn, a decline of 40%.

“It will result in a zero surplus at best or more likely a negative one, preventing the club from making necessary investments to secure its future and from contributing to the community,” the HKJC said.

“In reality, however, consumer behaviour can be highly dynamic. Any perturbation such as a tax increase, or simply the perception of such, could easily result in a dis..

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Tag: Sports betting