January 14, 2025 – FairOdds Network

January 14, 2025

DC Council fines Intralot $5 million for violating subcontracting agreements

The drama surrounding the Washington DC sports betting market continued with an announcement today (14 January) that the DC Council has fined Intralot $5 million (£4.09 million/€4.85 million) for violating small business subcontracting agreements in its sole-source sports betting and lottery contract.

In addition to Intralot, subcontractor Veterans Services Corporation (VSC) was also fined $1.5 million, bringing the total to $6.5 million. The fines were announced by the DC office of the attorney general (OAG).

The OAG said that when Intralot sought to secure the controversial contract in 2019, it did so with the premise that “VSC would perform 51% of the work – all with its own resources – and receive an equivalent percentage of the revenue”. DC law requires that 35% of large government contracts be subcontracted to local small businesses. The benefits to VSC and other local businesses was said to be among the primary reasons that the contract was awarded.

But that premise turned..

January 14, 2025

Tennessee sports betting handle tops $572.7 million in December

Gross wagers on sports in Tennessee reached $572.7 million (£470.5 million/€558.9 million) during December, the second-highest monthly amount on record for the Volunteer State.

December gross wagers beat the $495.1 million spent in the same month in 2023 by 15.8%. However, the total fell 4.3% short of the Tennessee record of $598.6 million set in November 2024.

The Tennessee Sports Wagering Council (SWC) also said after $2.9 million worth of adjustments, gross sports betting handle was $569.8 million. This beats December 2023 by 16.1% but is 4.1% behind November last year. Detail of these adjustments were not disclosed.

In terms of tax, the state generated $10.5 million from sports betting during December. The SWC does not indicate on the report what the adjustments are for, nor does it break down bets by operator or sport. The SWC also does not report operator revenue.

Some of the performance might be attributable to the University of Tennessee football team. The Volunteers finish..

January 14, 2025

ESPN Bet secures DC market access with Monumental Sports partnership

Penn Entertainment is to launch ESPN Bet in Washington DC after securing market access in the US capital through a new partnership with Monumental Sports & Entertainment (MSE).

Effective immediately, the long-term deal enables ESPN Bet to join several other approved online operators already established in DC. These include BetMGM, FanDuel, Caesars, Fanatics and DraftKings.

According to a 14 January statement, ESPN Bet will also become a sports betting partner of MSE and its various sports teams. MSE owns and operates NHL ice hockey team the Washington Capitals, NBA basketball team the Washington Wizards and the Washington Mystics of the WNBA. It also counts several multi-purpose venues among its portfolio of assets.

As part of the agreement, ESPN Bet will work with MSE to enhance the fan experience via an integrated marketing partnership. This multi-channel collaboration will include in-arena and media components, such as features in game broadcasts on MSE-owned Monumental Sports Ne..

January 14, 2025

Esportes da Sorte avoids Loterj national betting ban with Federal Court injunction

Esportes da Sorte has obtained an injunction from the Federal Court of the Federal District that will allow it to operate in the licensed Brazil betting market, despite it only holding a Lottery state betting licence.

The Federal Court’s decision, taken on Monday (13 January), enables Esportes da Sorte Group to launch its Esportes da Sorte and OnaBet brands nationally in Brazil, even though it has not been granted a federal licence or provisional licence to operate in the legal online betting market.

On 3 January Federal Supreme Court minister André Mendonça passed a preliminary ruling to ban Rio de Janeiro State Lottery (Loterj) licensees from providing nationwide gambling activities.

Esportes da Sorte gained Loterj authorisation back in August 2024 after its owner, Esportes Gaming Brazil, became the controlling shareholder of Loterj-licensed platform owner ST Soft.

However, the new Federal Court ruling guarantees Esportes da Sorte will be granted special authorisation to operat..

January 14, 2025

First in line: Brazil licence holders KTO and Stake on licensing challenges and first-mover advantages

Among the first to gain access to the legal online betting market in Brazil, KTO and Stake sat down with iGB to uncover the licensing process and how their early entry will bolster credibility among consumers.

After years of delays, Brazil finally launched its legal betting sector on 1 January, with operators looking to tap into what is expected to become a top-three market globally. For companies who have already secured licensed approval, the first-mover advantage has provided them with an exciting opportunity to be trailblazers.

The legal betting market in Brazil launched with 14 companies initially receiving full licences, as well as 52 operators that were granted provisional authorisation.

Provisional licences were granted to companies who are facing setbacks with their applications, such as certification delays. The extensive requirements relating to certification, as well as the huge number of applications submitted to the Secretariat of Prizes and Bets (SPA), have led to ..

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Daily Archives: January 14, 2025