Sports betting Archives

November 3, 2022

Colorado sports betting handle surpasses $450m in September

Player spending on sports betting in Colorado jumped 10.3% year-on-year in September, while the state also reported a month-on-month rise in both handle and revenue.

Monthly handle for September was $450.2m (£403.2m/€461.7m), up from $408.3m in the same month last year and also 55.2% ahead of $290.1m in August this year.

Consumers bet a total of $445.6m online during the month, in addition to $4.6m at retail sportsbook facilities across the state.

Gross gaming revenue reached $51.3m, which was 126.0% up from $22.7m in September 2021, while this total was 98.1% higher than $25.9m in August of this year.

Online wagering revenue was $50.7m, with just $659,647 being attributed to retail wagering activity during the month.

Football was by far the most popular sport to wager on in September, primarily due to the new NFL season beginning at the start of the month, with Colorado players spending a total of $145.7m.

Baseball wagers amounted to $83.2m and college football bets $52.7m, whil..

November 3, 2022

HOFV among latest to secure sports betting approval in Ohio

Hall of Fame Resort & Entertainment Company (HOFV) has become one of the latest operators to secure conditional approval for new online and retail sports betting licences in Ohio.

HOFV will operate in the state through its partnerships with Rush Street Interactive (RSI) and Betr, the new micro-betting business founded by Simplebet co-founder Joey Levy and social media personality Jake Paul.

The HOFV/Betr mobile sportsbook will allow consumers in Ohio to wager on sports online. The app will feature a new micro-betting option, whereby users can bet on a wide range of actions in a live sporting event such as pitches in baseball and shots in soccer.

The new HOFV/RSI retail sportsbook, operating as BetRivers Sportsbook, will open at the Hall of Fame Village’s Fan Engagement Zone in Canton, Ohio.

The Ohio Casino Control Commission approved both licences ahead of the state opening its legal sports wagering market on 1 January 2023.

“The legalisation of sports betting in Ohio, opens up a ..

November 3, 2022

NorthStar Bets scores Ontario partnership with NBA

NorthStar Gaming, operator of the Canada-facing NorthStar Bets brands, has entered into a regional partnership with the National Basketball Association (NBA) in Ontario.

Under the agreement, NorthStar Bets will become an authorised gaming operator of the NBA in the Canadian province.

NBA marks and logos will appear across NorthStar Bets, while users will also benefit from access to real-time NBA data when placing bets.

In addition, NorthStar Bets and the NBA will collaborate on a series of initiatives to help protect the integrity of NBA games.

The deal builds on previously announced partnerships from NorthStar aimed at providing consumers with more pre-game and live in-game betting opportunities across a number of leagues, including the NHL.

“As an authorised gaming operator, NorthStar Gaming will connect our players with official data and stats from the NBA and provide them with an insights-packed user experience,” NorthStar Gaming founding partner and chief executive Michael Mo..

November 3, 2022

Austrac orders SportsBet and Bet365 to conduct money laundering audits

The Australian Transaction Reports and Analysis Centre (Austrac) has ordered an audit of both Bet365 and Flutter-owned SportsBet, to determine if the operators have broken money laundering rules.

If SportsBet or Bet365 is found to be non-compliant with the rules, Austrac may then take further action, such as a court-ordered fine.

Austrac, a government body focused on money laundering, noted the action was “the result of an extensive supervisory campaign that assessed entities within the corporate bookmaker sector and follows the recent commencement of an investigation into Entain”.

The auditors will examine compliance with four areas of money laundering laws.

The first is whether the two operators adopted and maintained “an AML/CTF programme that has risk-based systems and controls in place to effectively identify, mitigate and manage money laundering and terrorism financing risks”.

They will next look at whether the operators conducted proper money laundering risk assessments.

November 2, 2022

EU ups money laundering risk from online gambling to highest level

The European Commission has raised the threat level for money laundering in online gambling to its highest possible rating, and called for lower thresholds for due diligence checks to prevent criminal activity.

The European Commission carries out periodic supra-national risk assessments, determining the risk of money laundering and terrorist financing across the European Union in various sectors. The 2022 edition is the third such risk assessment, after previous versions in 2017 and 2019.

“As with the previous reports, this third edition analyses the present ML/TF risks and proposes comprehensive action to address them,” the European Commission said. “It also assesses the degree to which the Commission’s recommendations for mitigating measures in the 2019 report have been implemented and evaluates the remaining risks.”

One area of particular focus in the report was gambling, with each gambling vertical receiving its own risk assessment.

Online gambling was found to be especially vu..

November 2, 2022

William Hill scores in-stadium betting partnership with Celtic

Bookmaker William Hill has entered an in-stadium retail betting partnership with Scottish Premiership football club Celtic.

Under the deal, William Hill will become the team’s official in-stadium betting partner and operate retail betting facilities inside the club’s Celtic Park home.

The arrangement will run for two years, with fans able to place a range of bets and also take advantage of exclusive offers and promotions on Celtic home matchdays.

“We are delighted to partner up with Celtic at their iconic home and deliver our unrivalled retail betting experience to the Celtic faithful,” William Hill’s director of media, sponsorships and UK creative, Liam McKee, said. It promises to be another exciting season at Paradise, and we are thrilled to be along for the journey.”

Celtic’s commercial director Adrian Filby added: “We are very pleased to be partnering with an industry leader in William Hill. We are certain that supporters who use this service will benefit from an enhanced stad..

November 2, 2022

BetDex launches first regulated blockchain betting exchange

The BetDex Exchange – created by FanDuel founder Nigel Eccles – has announced that it has been licensed and regulated by the Isle of Man Gambling Supervision Commission, making it the first regulated blockchain betting exchange.

The operator has received licensed approval for all kinds of online gaming, including online sports betting, under the Isle of Man Online Gambling Regulation Act.

Former FanDuel executives Varun Sudhakar, Stuart Tonner and Nigel Eccles serve as CEO, CTO and chairman of the new business, which they founded just over a year ago. Soon after founding, BetDex announced an initial investment round, raising $21m.

Varun Sudhakar, CEO and co-founder of BetDex said: “Today’s news is an exciting step forward for the BetDex Exchange. With the licensing and regulatory approval, BetDex now boasts the first fully-regulated sports betting platform in the Web3 space, and we’re excited to welcome bettors from approved regions.”

Abby Kimber, head of egaming with the Isle of M..

November 2, 2022

EPIC brings in Smith as new director of operations

Independent gambling harm minimisation consultancy EPIC Risk Management has named Danielle Smith as its new director of operations.

Succeeding Pete Wallis, Smith will take the lead on a number of key business infrastructure projects at EPIC.

Smith joins the consultancy after almost 13 years with the British army, where she was most recently a life skills developer, having previously been personnel change manager and a commissioned officer in the Royal Military Police.

Prior to this, she spent time as a legal advisor for DWF, a global provider of integrated legal and business services.

“I’ve come into EPIC at quite an interesting point,” Smith said. “There are lots of really tasty projects ongoing and lots of opportunity and potential for the future, so it’s really exciting. I’m super happy to be here, get on board and get involved in the growth of the business.

“What attracted me to EPIC is the passion that everyone has. Passion runs though the company, no matter what level you’re..

November 1, 2022

UK gaming tax intake rises in H1 of 2022-23, but remote duty down

UK provisional betting and gaming tax intake for the six months to 30 September has risen 11.0% from £1.46bn to £1.62bn ($1.85bn/ €1.88bn) compared to the same period the previous year.

The largest contributors to this figure is the Lottery Duty, which represents 30% of the total, and the Remote Gaming Duty which contributes 28% of the total. However, both the duties declined both in absolute terms and percentage of the total from same period the previous year.

The 2022 figures had a high degree of variability month to month, demonstrating both seasonal variation and a decreased month-to-month stability in the figures post-pandemic – as commented on by HRMC.

“Since the 2020-21 financial year, monthly receipts have been more unpredictable and, instead, receipts across each quarter are now more representative,” it said.

As a result, the figures had a large range. At the high end, almost £500m of the total was gathered in April alone – while in September, just £93m was received by th..

November 1, 2022

888’s Howard Mittman on Betting 2.0

Sports betting 1.0 was all about acquisition and, as it moves into sports betting 2.0, product is the key differentiator for sportsbook operators, according to 888 Holdings’ US president Howard Mittman. Robin Harrison hears how Mittman is developing a media-led, content-driven offering that leverages the power of the Sports Illustrated brand.

888 Holdings’ Howard Mittman sees sports betting as a “cultural phenomenon” in the US, sitting at the centre of sports, media technology and betting.

For Mittman, this makes his role at the operator, where he has served as president of US operations since April, a perfect fit.

“Throughout my career, the experiences I have enjoyed the most are ones where I found myself at interesting cross-sections,” he says. “Whether it was technology and culture, fashion and culture, or sports and culture.

Howard Mittman has served as president, US for 888 Holdings since April 2022

“This creates an interesting opportunity to have a perch and a purview tha..

October 31, 2022

DC sports betting handle continues to climb in September

Sports wagering handle in Washington DC increased for the second consecutive month in September but fell 26.2% year-on-year.

Handle for the month amounted to $19.4m (£16.8m/€19.5m), which was 48.1% higher than $13.1m in August of this year, but down 26.2% from $26.3m in September 2021.

Gross gaming revenue was $3.6m, double the $1.8m generated in August and also 125.0% higher than $1.6m in September last year.

Looking at individual operator performances, Caesars retained its grip on top spot in DC with $1.4m in revenue from $7.3m in total bets during September.

Gambet, operated by the DC Lottery and powered by Intralot, placed second with $1.1m in revenue from $6.0m in player spending. BetMGM, which is partnered with MLB team the Washington Nationals in DC, was next with revenue of $678,061 from a $4.0m handle.

Flutter Entertainment’s FanDuel, which runs a FanDuel-branded retail sportsbook at Major League Soccer team DC United’s Audi Field, generated $250,932 in revenue from $1.6m..

October 31, 2022

Rhode Island falls just short of revenue record in September

Sports betting revenue in Rhode Island reached $6.4m (£5.6m/€6.5m) in September, the second-highest monthly total on record.

Revenue was 60.0% higher than the $4.0m recorded in September 2021 and also 113.3% up from $3.0m in August this year.

The total was also just short of the monthly record of $6.7m posted in November 2021.

Mobile betting accounted for $3.6m of all revenue during the month, with Twin River’s retail sportsbook contributing $1.6m and the Tiverton Casino posting $1.1m from its land-based sports betting facility.

In terms of player spending, handle for the month was $41.7m, up 1.2% from $41.2m in the same month last year and 50.5% ahead of $27.7m in August this year. This was helped by the start of the new NFL season, which kicked off at the start of September.

Consumers wagered $26.8m online in September, while $14.8m was spent at the two retail sportsbooks. Twin River’s facility drew $9.9m in bets and Tiverton Casino’s $4.9m.

For the state’s financial year to da..

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Tag: Sports betting