January 2025 – Page 5 – FairOdds Network

January 7, 2025

What will it take to return UK retail betting to growth?

UK retail betting is in decline. Can the sector take inspiration from a high street betting stalwart and Serbia’s thriving social scene to turn the channel’s luck around?

UK retail betting continued its slow long-term decline in Q3 2024 with the channel’s gross gambling yield (GGY) falling 1% to £533 million in the UK, according to UK Gambling Commission data. Entain reported a drop of 2% in retail betting revenue in the market, while Evoke observed a 9% fall in revenue across its international retail portfolio.

Meanwhile online gambling is surging in popularity due to ease of access and improving technology. The Gambling Commission reported an overall Q3 GGY of £1.32 billion (€1.6 billion/$1.7 billion), with online real event betting GGY rising by 6% year-on-year to £453 million.

In its Q3 results, Evoke said it had hired a new retail managing director in September who had identified and actioned a series of measures to improve trading in the short term. This included the rollout ..

January 6, 2025

Maryland, Virginia lawmakers to consider online casino legalisation

State legislatures across the US will consider legalising online casino in 2025, including Maryland and Virginia, where bills have been filed.

Delegate Vanessa Atterbeary, chair of the Maryland house ways and means committee, will again try to move an online casino bill in Maryland. HB 17 would allow for igaming regulated by the Maryland State Lottery and Gaming Control Commission (MSLGCC). It was pre-filed in December and it will officially be filed on 8 January, when the legislative session opens.

The bill is similar to one she filed last year that passed the house but didn’t get to the senate floor. Concerns about how digital gambling would cannibalise retail casinos became a sticking point. A senate bill suffered the same fate.

Atterbeary’s latest version would allow for existing video lottery operators and sports betting facilities to apply for icasino licences. The MSLGCC would also be able to issue five licences for applicants who “meet the requirements for an internet gamin..

January 6, 2025

Weekend Report: SL Green CEO set for Times Square casino bonus, computer game addiction links to gambling warning

Welcome to the Weekend Report, where iGB looks at the news that you may have missed across Friday, Saturday and Sunday. This week: SL Green CEO £10 million bonus hinges on Times Square casino, expert warns computer game addiction drives teens to gambling and OBE for GambleAware CEO.

SL Green CEO set for £10 million Times Square casino bonus

Up first, Marc Holliday, the CEO of the real estate investment trust, will receive a $10 million (£8 million/€9.7 million) bonus if he can secure a land-based casino at New York’s iconic Times Square.

According to Crain’s New York Business, SL Green confirmed the bonus last week. The trust is hoping to gain permission from the state to convert a 54-storey tower into a casino and hotel.

SL Green is working in partnership with Caesars Entertainment and Roc Nation on the bid for a New York casino. However, the project faces competition from a host of other interested parties.

The Related Cos, Silverstein Properties, Bally’s, Miriam Adelson’s Las V..

January 3, 2025

State of the Union: Missouri sports betting update, California tribes sue, more

Welcome to iGB's State of the Union, a look at the biggest North American sports betting stories we've covered over the week and briefs on others we found interesting.

MO wagering coming online sooner than expected?

Legal Missouri sports betting could be available sooner than mandated. The new law, passed by voters on 5 November, requires the state gaming commission to launch operators by 1 December 2025. But on 2 January, Missouri Gaming Commission (MGC) chairman Jan Zimmerman told Sports Betting Dime, “Depending on how quickly the process goes with getting the rules to the governor’s office, getting them signed, getting everything to the attorney general’s office, we could be looking at earlier in the summer than we anticipated.”

The emergency rules process is moving more quickly than expected, said Zimmerman. She is hopeful that the emergency regulations will reach the governor and attorney general for approval by the end of January. Should that happen, the MGC could op..

January 3, 2025

Ohio sports betting handle surpasses $1 billion in November

Ohio fell just short of setting a new monthly sports betting handle record in November as players in the state wagered a total of $1.02 billion ($826.0 million/€993.0 million) during the month.

The November total is the second highest monthly amount on record. The amount is second to January 2023, when online betting became legal in Ohio, saw the highest ever state-wide handle at $1.11 million.

The November handle also surpasses the $864.2 million wagered in the same month in 2023 by 18.5%. It is also 13.6% ahead of the $901.4 million bet in Ohio in October of 2024.

Of the total amount wagered in November, $1.02 billion was bet online and $20.9 million at retail sportsbooks inside land-based casinos. This is according to data published this week by the Ohio Casino Control Commission.

Consumers in Ohio won $901.9 million during the month while $5.6 million in wagers were voided and $32.3 million processed as promotional bets. This resulted in $117 million in taxable revenue.

The r..

January 3, 2025

Portugal topples online gambling revenue record again in Q3

Online gambling revenue in Portugal hit an all-time-high for the eighth consecutive quarter in Q3, driven by a record performance from the nation's internet casino market.

Gross online gambling revenue in Portugal hit €266.3 million (£220.9 million/$273.8 million) during Q3. This surpasses Q3 of 2023 by 23.7% and the previous quarterly record, set in Q2 2024, by 1.7%.

Online casino revenue hits record €175.1 million

Data from regulator Serviço de Regulação e Inspeção de Jogos (SRIJ) shows this growth was driven by the online casino segment. Here, gross revenue hiked 31.2% year-on-year to an all-time high of €175.1 million. This also surpassed Q2 revenue by 10.5%.

Spending on internet-based casino games hit €4.87 billion in Q3, another new record and a 33.7% increase from 2023, as well as 11.6% higher than Q2.

As has been the case for some time, slots remain by far the online casino game of choice in Portugal. Slots drew 80.4% of all wagers during Q3, ahead of French roulette ..

January 2, 2025

Virginia sets sports betting revenue and handle records in November

Virginia reported record adjusted sports betting gross revenue for the month of November, while handle in Old Dominion also reached an all-time high for the second consecutive month.

Data published this week by the Virginia Lottery shows gross revenue in November 2024 hit $80.6 million (£64.3 million/€77.7 million). This is 121.4% ahead of the same month in 2023 and 64.5% more than October 2024.

The total also surpassed the state’s existing adjusted gross revenue (AGR) record of $67.5 million – set in January 2024 – by 19.4%.

Almost all AGR came from online. During the month, some $79.9 million of all revenue was attributed to online betting, compared to $666,689 in retail revenue.

Player spending in Virginia up to $761.0 million

In terms of how much players spent on sports betting, the monthly handle for November across both online and land-based hit $761 million. This surpasses last year by 19.1%.

November also marks the first time Virginia has surpassed $700 million in betting..

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