Tag: Sportsbook

Waterhouse VC: Crunch time in the US

In his latest column, which goes live first on iGB, Tom Waterhouse of Waterhouse VC scrutinises the gambling stock performance in the US, and the variable of customer acquisition costs.

As discussed in our June newsletter, investors in US online wagering operators are growing impatient with the losses recorded for the sake of gaining market share.

One reason we focus primarily on suppliers over operators is because operators rely heavily on their customer acquisition cost (CAC).

In mature, highly taxed, regulated markets, a handful of operators earn the majority of profits because they have the lowest CAC and the best operational efficiencies.

ONE-Year Performance of Operators with Exposure to US Online Wagering.

Sportsbet take 2

Flutter’s third quarter results demonstrated FanDuel’s (Flutter’s US brand) clear market leadership. It has a 42% gross gaming revenue (GGR) market share in mobile sports betting and 18% market share in igaming.

As shown above, Flutter is the only opera..

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Genius and the NFL score streaming deal with three Canadian sportsbooks

Genius Sports and the National Football League (NFL) have entered into a Canadian video streaming licensing agreement with three sportsbook operators – Bet365, Canada-facing Bet99 and esports-focused Rivalry.

Bet365, Bet99 and Rivalry will be permitted to provide their customers with video streams of all regular and post-season NFL matches through Genius’ Watch & Bet solution.

Genius became the exclusive distributor of NFL data and live video feeds in April 2021. In return, Genius issued 22.5m warrants to the NFL.

Genius said that it will use machine learning-powered live streaming technologies to facilitate video streaming and bet tracking for players in Canada.

Read the full story on iGB North America

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Industry slams NYT sports betting coverage

On Sunday, the New York Times (NYT) published an article on sports betting lobbying efforts, which has been criticised by industry trade groups and individuals as including “several mischaracterisations”.

Titled “Cigars, Booze, Money: How a Lobbying Blitz Made Sports Betting Ubiquitous”, the article makes the argument that the gambling sector “got their way with lawmakers after showering them with donations, gifts and dubious arguments”.

This assertion has been criticised by a number of US-based trade organisations, who pointed to the already stringent regulatory environment and the industry-wide commitments to responsible gaming.

Criticised by trade bodies

In a statement published on LinkedIn, the American Gaming Association (AGA) said that the NYT had made “several mischaracterisations” in the article, and emphasised that there is a high standard for obtaining gaming licences in the US.

“As unapologetic advocates for our industry, the AGA engages with the New York Times and any..

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SportNation and RedZone to cease trading in UK

Esports Entertainment Group (EEG)-owned brands SportNation and RedZone will cease trading in the UK from 30 November 2022.

SportNation and RedZone both said the sites were “closing for a variety of reasons including the economics of operating a small igaming business in the UK market”.

Users will be able to place bets and use their accounts will normal functionality until 30 November – after which they will be able to login to withdraw funds from 7 December, when the final closure is due to take effect.

Following this, there will be another seven-day period where the operator will process requests to withdraw funds of any amount over £1. From 14 December, SportNation and RedZone stated that “should any customer balances remain, we will continue to comply with requests for refunds of such balances to the extent required by law and in accordance with our terms and conditions”.

The operator has said that it intends to keep possession of customer data for five years following the clos..

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Genius posts strong revenue growth as US expansion continues

Sports data business Genius Sports reported $78.7m (£67.5m/€77.4m) in revenue for the three months ending 30 September.

Total group revenue for Genius increased 28% year-on-year in constant currency. On this basis, the business’ three verticals experienced strong growth themselves with betting revenues rising by 13%, media by 41% and sports by 6%.

In adjusted earnings before interest, tax, depreciation and amortisation (EBITDA), the business achieved profitability, reporting $7.7m compared to the $392,000 loss Genius announced the same period the previous year.

“We are pleased to deliver another quarter of growth and group adjusted EBITDA profitability, and we remain on target to achieve our full-year goals set on our investor day at the start of 2022,” said Genius CEO Mark Locke. “This year has been characterised by strong execution as we continue to deploy innovative technology, win new customers and strengthen our key partnerships across the sports, betting, media and broadcastin..

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Bayes Esports enters Canada with Bet365 deal

Esports live data supplier Bayes Esports is entering the Canadian market through an extension of its deal with Bet365.

Canada has just recently opened its doors to single-event sports betting, since a ban was lifted in August 2022, while Ontario became the first Canadian province to end its igaming monopoly in April.

Bet365 is one of 49 brands to receive a licence to launch in Ontario.

“These past couple of months have been amazing for us,” Amir Mirzaee, COO and managing director of Bayes Esports, said. “We have expanded to the US, launched an innovative odds integration platform that will revolutionise sports betting in BODEX, and strengthened our management team with some of the brightest minds from across various different industries.

“To now also be registered in Ontario and to extend our partnership with Bet365 accordingly feels like the cherry on top. I am certain other provinces will follow Ontario’s example and we will be able to offer live esports data to sportsbooks all a..

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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..

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Caesars launches online sportsbook in Ohio ahead of market opening

Caesars Entertainment has announced the launch of its online sportsbook in Ohio ahead of the US state opening its regulated sports betting market in January 2023.

Ohio is due to commence legal sports wagering on 1 January and players in the state are now able to register and deposit funds with Caesars in preparation for this launch.

Consumers that sign up with Caesars ahead of January can take advantage of a special early registration offer, whereby if they deposit $20, they will receive an additional $100 worth of bet credits.

Read the full story on iGB North America

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World Cup could be make-or-break for industry marketing

iGB op-ed: Many will be paying close attention to how the industry markets its products during the 2022 Fifa World Cup. Daniel O’Boyle writes that the industry’s actions during the tournament may be the difference between fuel for a further crackdown or a chance to change the tide of the debate on gambling.

Yesterday, France announced a series of new rules and recommendations on bonuses. The contents of the regulations published by regulator l’Autorité Nationale des Jeux (ANJ) are interesting for sure, but there may be more to think about beyond that.

The new rules on transparency are good, and other markets would largely benefit from requiring operators to make the terms surrounding bonuses as clear as possible.

Other rules, particularly the ban on sending bonuses to “excessive” gamblers, are clearly well-meaning but likely too vague to be implemented in the way that is hoped.

The non-binding “recommendations”, meanwhile, are hard to judge without knowing how motivated operators..

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Great Canadian to launch sportsbooks at its casinos with Kambi deal

Land-based gaming and entertainment company Great Canadian Entertainment is set to launch sports betting at its venues, thanks to a new deal with Kambi.

As part of the deal, Kambi will provide its retail sportsbook product to ten of Great Canadian Entertainment’s Ontario-based casinos.

This includes Kambi’s sportsbook solution, as well as betting kiosks.

Read the full story on iGB North America

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Sportradar gains sub-licence for ATP tennis data

Sportradar has agreed a deal with Tennis Data Innovations (TDI) and IMG, allowing it access to a sub-licence for ATP tennis data.

This new partnership focuses on the creation of a new secondary feed, which will grant access of betting-related services based on official ATP Tour and ATP Challenger Tour scores to a number of bookmakers worldwide.

The new feed will deliver scores directly from the umpire’s chair and offer complete and uninterrupted coverage of events across the whole season. Consequently, this will allow bookmakers to ensure more stable and reliable in-play betting markets and improve customer experience.

The data in the new feed is delivered in parallel with the existing official fast data feed which was from IMG Arena. By offering an alternative feed to bookmakers, the reach of official data is expanded and it increases the access to tennis betting experiences powered by official scores.

“By taking a constructive and innovative commercial approach, TDI has found a ..

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Playing the long game

Last week, sports betting solutions provider Kambi and Penn Entertainment finalised the terms of their long-awaited migration deal, wherein Penn’s online and retail sportsbooks will migrate to its proprietary technology. Marese O’Hagan speaks to Kambi CEO Kristian Nylén about the future of the deal and the rise of vertical integration.

In August 2021, Penn Entertainment – then known as Penn National Gaming – announced that it would acquire Canadian sportsbook theScore for $2.0bn (£2.79bn/€2.05bn). The plan was to migrate Penn’s betting products onto a platform created by theScore, which did not yet exist at the time of the deal.

Having worked with Penn since 2019, this deal came as a disappointment to Kambi. From Kambi’s perspective, it was losing a vital client to a platform that had not yet been created. And it certainly didn’t help that the announcement came on the back of the migration of another high-profile client in DraftKings.

The finalisation of Kambi and Penn’s migration a..

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