Sportsbook Archives - Page 5 of 7

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

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 25, 2023

How crypto could be embedded in online betting

Tom Waterhouse of WaterhouseVC revisits the subject of crypto wagering, and whether it could be central to next-gen sportsbook platforms.

In May, we discussed the significant opportunity in crypto betting, which is growing gross gaming revenue (GGR) at 36.6% per annum.

Online crypto operators have a similar user experience to online fiat operators. The likes of Stake.com and Sportsbet.io already record extraordinary turnover.

White label platform solutions for crypto betting operators are leveraged to the growth of crypto wagering as a whole. This means they are not exposed to the operational and regulatory risk of a single crypto wagering business.

Global crypto wagering data for total bets and GGR. Source: Softswiss.

Existing wagering platforms

Many fiat operators rely on white label sportsbook and igaming platform solutions, such as Kambi, OpenBet and SBTech.

A selection of white label sportsbook and iGaming platforms built for fiat operators. Source: Waterhouse VC.

Howev..

January 12, 2023

Bet365 partners with Cleveland Guardians in US expansion

UK-based global betting brand Bet365 has partnered with Ohio-based MLB team the Cleveland Guardians.

Ohio – where sports betting launched on 1 January – is the third US state in which Bet365 is live, following New Jersey and Colorado.

The partnership lands as the Guardians bid to retain the American League (AL) Central title, which was the franchise’s first since 2018.

Ted Baugh, the Guardians’ vice-president of corporate and premium partnerships, said: “We’re very excited to work with Bet365 as our exclusive mobile sports betting partner and welcome them to the State of Ohio.

“There is a tremendous bond between our organisation and Bet365. With nearly 90 million customers registered worldwide, Bet365 is one of the world’s leaders in online gambling and will provide our fans a trusted source to complement our organisation’s success on and off the field.”

The Guardians annual “Guards Fest”, which runs on 21 January for the first time after a two-year pause, will mark the beginn..

January 11, 2023

Elys Game Technology joins US Integrity

Global interactive gaming and sports betting technology company Elys Game Technology has partnered up with US Integrity (USI) as it expands in North America.

USI will provide event monitoring, market intelligence and fraud prevention for all of Elys’ growing US facing operations, including Nevada-based USBookmaking, which it acquired in 2021.

In the US, Elys’ focus is to provide end-to-end sportsbook services to business operators across the regulated market. The news of this partnership follows the recent announcement that Elys secured a licence in Ohio’s newly legal sports betting market.

USI’s integrity monitoring services from its proprietary dashboard to Elys Game Technology conducts analysis across dozens of data sets to identify any possible irregular sports wagering-related patterns.

Michele Ciavarella, executive chairman of Elys, said the partnership will help the business detect suspicious betting.

“We are very pleased to be engaged with US Integrity as we prepare to ..

January 9, 2023

Blaze and Parimatch score Brazilian football sponsorship deals

Blaze and Parimatch have agreed to sponsorships with Brazilian football clubs Atlético Clube Goianiense and Botafogo, after the collapse of efforts to introduce a locally regulated sports betting market in the country.

Campeonato Brasileiro Série B side, Atlético Clube Goianiense, announced the sponsorship with Blaze, a sportsbook online provider. Blaze will feature on the club’s kits as the main sponsor.

The length of the deal is currently undisclosed.

Meanwhile, Campeonato Brasileiro Série A team Botafogo agreed a two-year deal for online sports provider Parimatch to become its main shirt sponsor.

Nick van Gorsel, director of operations at Blaze, said that the company is proud to be the new sponsor of Atlético Clube Goianiense.

“The club has a passionate and loyal fan base that will complement our growth. It is a great honour for everyone at Blaze to be part of the ACG family and we will do our part in supporting the club.”

Adson Batista, president of the club, added that the c..

January 5, 2023

Massachusetts approves Barstool betting license, but will also investigate brand

The Massachusetts Gaming Commission (MGC) has voted to approve Penn Sports Interactive and its Barstool brand for a sports betting license, but only under certain conditions, including cooperation with an investigation.

The decision followed multiple public meetings between Penn representatives and the MGC where the commissioners grilled the Barstool-operator on several items. Among the topics under discussion was concerns over the Barstool brand and its controversial founder David Portnoy.

In particular, there were questions over the connection between the Barstool Sports, a media organisation founded by Portnoy, and the Barstool Sportsbook, the Penn-owned betting platform.

[Read full story on iGB North America]

November 25, 2022

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..

November 23, 2022

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

November 22, 2022

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..

November 15, 2022

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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Tag: Sportsbook