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December 9, 2024 – FairOdds Network

Daily Archives: December 9, 2024

North Carolina has second-best wagering handle month since launch

North Carolina bettors wagered a near record $657.7 million (£515.8 million/€623.3 million) in November, the second-highest handle since betting went live in March.

The largest total bet in a month in North Carolina was $693.3 million in March, when wagering went live. That amount includes real-money and promotional bets. In November, bettors laid down $638.7 million and operators wrote off $19 million in promotional play. In March, bettors wagered $456.7 million in real-money bets and also used $202.6 million in promotional play.

Operators in the Tar Heel state took in record revenue of $78.1 million for November, according to today’s (9 December) report from the North Carolina State Lottery Commission. The next highest gross gaming revenue (GGR) month was September, when operators reported $70.1 million.

Through nine months, bettors have wagered $4.4 billion with an additional $434.3 million in promotional play. The level of promotional play was at its peak in March, but has be..

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US senators want FTC to investigate DraftKings, FanDuel

Senators Mike Lee and Peter Welch accuse the two operators of conspiring to control the US sports betting market.

Two US senators have formally requested that the Federal Trade Commission (FTC) and the Department of Justice (DOJ) investigate online sports betting platforms DraftKings and FanDuel.

In a letter dated 5 December, Republican senator Mike Lee and Democratic senator Peter Welch raised concerns about the companies allegedly coordinating efforts to suppress competition in the industry.

The senators cite public reports. These suggest DraftKings and FanDuel may have joined together to pressure other businesses not to work with rival betting platforms. Both companies are members of the Sports Betting Alliance (SBA). The senators claim the SBA has been used as a vehicle for these actions.

“After their merger to monopoly was blocked, it seems that FanDuel and DraftKings have arguably acted as one company, violating our antitrust laws,” wrote the senators.

We can’t allow online..

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New Zealand government proposes extending TAB NZ monopoly online

New Zealand government has introduced new legislation to extend the current monopoly TAB NZ holds for retail sports betting and horse racing wagering in the country to also cover the online market.

Filed by racing minister Winston Peters and announced over the weekend, the legislation would amend the Racing Industry Act 2020. This would effectively grant a TAB NZ monopoly across the entire sports and horse racing betting market in New Zealand.

TAB NZ was established under the Racing Industry Act. It replaced the Racing Industry Transition Agency (RITA), which previously oversaw the country’s betting activity. According to the government, TAB NZ already accounts for 90% of revenue within the New Zealand racing industry.

Minister Peters said that extending the current monopoly model to online operations would increase revenue and support the wider industry. He added that establishing TAB NZ as the sole online operator would help protect consumers from illegal offshore sites.

“This le..

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