Sportsbook Archives

November 23, 2023

The art of harnessing artificial intelligence for sportsbooks

As we’ve seen this year, the groundbreaking and rapidly evolving technology powering artificial intelligence (AI) is sure to revolutionise the economy, including the world of sports betting. In the second part of this two-part series, Russell Karp, senior vice-president of DataArt, focuses on the many ways sportsbooks can benefit from harnessing the art of AI.

Today, one of the most promising uses of AI in sports betting is bettors’ ability to use the technology to place bets more strategically and attempt to minimise their losses.

Apps like BettorTakes and Juice Reel aim to boost users’ performance through comprehensive analytics of their past betting behaviours. As BettorTakes CEO Steve Rubenfaer described in an interview with DataArt this year, the app “show[s] you your patterns, biases and things you might not know about yourself”.

With these apps, AI can be used to assess bettors’ gambling history, in addition to player or team stats. AI can then present digestible, comprehensi..

November 15, 2023

ESPN Bet launches across 17 US states

ESPN Bet, the newly branded online sportsbook operated by Penn Entertainment, has now officially gone live across 17 states in the US.

Players can now place bets with the sportsbook on the ESPN Bet app and website in states including Arizona, New Jersey, Pennsylvania, Massachusetts, Illinois and Ohio.

ESPN Bet is the product of Penn’s $1.5bn (£1.2bn/€1.4bn) partnership with Disney-owned ESPN, the largest sports media brand in the US.

As per the agreement, Penn will operate ESPN Bet while ESPN promotes the app across its online and broadcast platforms.

The launch details

ESPN Bet is a rebranding of existing sports betting app, Barstool Sportsbook. In August, Penn said it sold Barstool Sports back to its founder Dave Portnoy for $1.

“We are excited to announce that we plan to simultaneously launch ESPN Bet across the 17 states in which we operate online sports betting, subject to final approvals,” said Penn CEO Jay Snowden, commenting on Penn’s Q3 results.

“This strategic allia..

November 14, 2023

Forging a new path in daily fantasy sports

Amid rapid expansion in all forms of online gambling, one company is attempting to blaze a new trail. Rourke Struthers, CEO of GameBlazers, is carving out a new corner of the daily fantasy sports (DFS) industry, writes Cole Rush.

“It’s a gamified approach to fantasy sports,” Struthers says of GameBlazers. The DFS platform currently offers NFL contests.

Participants receive packs of items – football players – with multipliers. A star running back might come with a 1.3x multiplier, for example. GameBlazers team owners can then use their items to field a roster of players within the salary cap.

The novel approach must contend with existing competition in the DFS space and the proliferation of online sportsbooks and casinos. Struthers says GameBlazers is more than up for the challenge.

“So many of the dollars in this industry have gone to the gambling side,” he says. “But look at video games in general and it’s a bigger category. We wanted to take that underlying concept and iterate on..

November 13, 2023

ESPN BET launch: everything you need to know

Like any Disney fairytale, we’re ready for the hero to dash in and save the day. So, what kind of fairytale do we have concocted for tomorrow’s (14 November) ESPN BET launch?

First up, let’s do some background.

ESPN BET launch: has Penn Met its sports betting match?

We all know Penn Entertainment was billed as one of the pandemic success stories. At the time, few investors thought it had a big part to play in our Disney fairytale with its acquisition of Barstool Sports.

However, unlike our Disney tale of true love, Barstool and Penn was just never meant to be.

At the start of 2023, Penn sold Barstool back to Dave Portnoy for a single paltry dollar. This was mere months after completing the $500 million purchase. A poisoned apple, some might say.

Instead, enter the prince of our tale – Disney-owned ESPN.

This where our tale of true love begins and the story of ESPN BET.

A match made in heaven for ESPN and Penn

Following ESPN’s $1.5bn licensing partnership with Penn Entertainme..

October 30, 2023

Exploring the potential and pitfalls of AI in sports betting

Artificial intelligence (AI) poses significant opportunities and challenges in nearly every sector, including the sports betting industry. In this two-part series, Russell Karp, senior vice-president of DataArt, delves into the most promising opportunities for sports betting in an AI-driven era.

Undoubtedly, AI technology plays a pivotal role in the sports betting industry.

From enhancing data analysis and odds calculation to refining user experience and supporting responsible gaming, AI stands at the intersection of innovation and user satisfaction.

AI-based customer relationship management (CRM) systems can be used to analyse user behaviour, preferences and trends to personalise digital experiences for bettors. This helps sportsbooks gain an edge over the competition while keeping their clients happy.

However, while the benefits are clear, the incorporation of AI in sports betting is not without its challenges. These may range from security concerns and data privacy issues to eth..

October 25, 2023

A force to be reckoned with

There’s an element of fun to the niche sports Pro League Network (PLN) presented to regulators. But don’t doubt its impact, or PLN’s ability to harvest player attention, writes Cole Rush.

“It’s okay to laugh.”

That’s what Bill Yucatonis, co-founder of PLN tells regulators when he presents niche sports for potential wagering.

“We’re going to talk about mini golf today,” Yucatonis tells them. “It’s okay to laugh.”

With PLN, it’s all fun and games. There’s a serious side, sure – we’re talking about carefully constructed alternative sporting leagues, after all. But Yucatonis and his team don’t shy away from the lightheartedness that permeates PLN sports.

Yucatonis and his partner and co-founder Mike Salvaris concocted PLN almost two years ago. With backgrounds in the gaming and sports industry, they set out to bring “alternative sports” into the mainstream.

“We’ve got 16 leagues in our network and we’re growing,” says Yucatonis. “We look for sports that have some viral components and..

October 23, 2023

GAN Sports set for Nevada entry

GAN is set to launch its sportsbook services in Nevada after being granted regulatory approval by state authorities.

The North American B2B gambling technology provider – whose board is considering its sale – said it will commence field trial operations of its GAN Sports betting platform with its Nevada customers after the platform is certified and approved.

It expects to launch in the coming months, with the platform to serve both mobile applications and retail sports betting.

Seamus McGill, chairman and interim chief executive, said: “We are very pleased and humbled to have received regulatory approval from the State of Nevada to hold a gaming licence. We are excited that we will be launching our leading-edge GAN Sports product in Nevada in the next few months.

“The Las Vegas Locals market is one of the largest and most recognisable gaming markets in the world and we are incredibly excited to be entering it.

“This is the third state where our B2B sports betting technology and ..

October 20, 2023

Red card for double standards

The Guardian recently reported on the bizarre scenario of football club owners in the UK being allowed to place bets on football matches… while their employees are banned from doing likewise. This raises a ton of questions, writes Jon Bruford. Like how? Why? And who knew?

The story, which emerged in late September, has seen the governing body (the Football Association, or FA) accused of double standards after hanging Brentford player and diagnosed gambling addict, Ivan Toney, out to dry. This followed breaches of the player code of conduct.

Ironically, Matthew Benham, owner of Brentford FC, was named as one of the gamblers. The story states: “Benham is one of a select few multimillionaire club owners who enjoy an opaque arrangement with the FA that allows them to be involved in betting. The Guardian has seen evidence that appears to show that Benham has made money from bets on football placed in his own name, via a UK-based gambling syndicate called MSPP Admin. Benham said he abides ..

September 13, 2023

BetMGM ups the ante for the 2023-24 NFL season

One week on, the 2023-24 National Football League (NFL) season is in the books and Matt Prevost, BetMGM's chief revenue officer says BetMGM is looking to make it a big year.

During the off season, BetMGM made numerous changes to its sports betting experience, fuelled by the popularity of the NFL and a general aim to consistently improve its offering.

“The BetMGM app is taking a giant leap forward this season with new capabilities and streamlined user experience,” says Prevost. “One new feature is Same Game Parlay+.

“We have seen incredible activity and demand from our customers in same game parlays. So the ability to add new functionality to this popular feature and now offer the ability to combine several same game parlays for exponentially higher odds is something we expect fans to really take advantage of this season.”

BetMGM’s Survivor Pool

BetMGM is also bringing local flair to its sportsbook in legal markets. The sportsbook is offering “exclusive odds boosts for our tea..

September 7, 2023

Turnover is vanity, profit is sanity

The NFL is a difficult sport for oddsmakers and sportsbooks to navigate. But along with its headaches and complexities comes the promise of high rewards for operators, writes Simon Trim, launch consultant to 10star.

The weekend that follows the first Monday in September is always a red-letter event for US sportsbooks, as the NFL season makes its annual return.

The NFL season consists of 272 games, as opposed to the 2,430 that comprise the regular Major League Baseball season. But the impact on turnover, and potentially profit, that the NFL has in comparison is vast.

The NFL isn’t just America’s game either. It is a high-tariff sport throughout the global sports betting landscape. For UK sportsbooks, the NFL games held in London across three consecutive weekends in October are huge business drivers.

SIMON TRIM, LAUNCH CONSULTANT TO 10STAR

While the NFL is undoubtedly the main event in terms of generating turnover and revenue, the number of US sportsbooks that have translated this ..

September 7, 2023

Net profit up 56.4% at STS in H1

Net profit at Polish sports betting operator STS Holding grew 56.4% to PLN97m (£18.1m/€21.1m/$22.6m) in the first half of 2023, a period in which it agreed to be acquired by Entain CEE for £750.0m.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for the half-year rose by 34.1% to PLN157m.

The news that Entain CEE – Entain’s Central and Eastern Europe (CEE) venture – would acquire Poland’s leading sportsbook operator came in June, after Mateusz Juroszek, chief executive of STS, and his father Zbigniew, entered into an agreement to accept Entain CEE’s acquisition offer.

Entain CEE paid PLN24.80 per STS share. This put the business at an equity value of £750m and an enterprise value of an estimated £690m. The deal closed on 24 August, after STS shareholders – holding 155,591,656 in STS shares – backed the deal.

On the half-year, Mateusz Juroszek said STS focused on optimising its operations during the six months, adding that he projects increased player ..

August 22, 2023

How will ESPN Bet carve out its place in the industry?

The stakes are high for ESPN's long-awaited foray into sports betting. Vice president of sports betting Mike Morrison believes the broadcasting behemoth will upend the established industry order.

“There was an inevitability about this,” ESPN’s Mike Morrison says of the sports giant’s move into betting.

Partnering Penn Entertainment to launch ESPN Bet brought years of speculation – and the operator’s partnership with Barstool Sports – to a close. This was momentous at every level.

First, the announcement came as a surprise. Penn’s sportsbook now connects with a vast audience, potentially catapulting the operator’s interactive business to the top tier of operators.

To the general news connoisseur, beloved multimedia behemoth the Walt Disney Company – owner of ESPN – entered the sports betting race.

ESPN Bet: A deal five years in the making

Sports betting is a natural extension for ESPN and speculation over deals with DraftKings and Caesars Entertainment was rife.

Morrison say..

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Tag: Sportsbook