February 3, 2025 – FairOdds Network

February 3, 2025

Virginia sports betting handle up in December but AGR well off record

Virginia reported a 23.4% year-on-year decline in sports betting adjusted gross revenue (AGR) for December, despite an increase in player spending.

The Virginia Lottery reported on 31 January that AGR in December amounted to $43.9 million (£35.6 million/€42.8 million). This falls short of $57.2 million in the previous year and 45.5% of November’s $80.6 million record.

All AGR in December came from online betting, with retail sports wagering at casinos leaving a $12,883 loss.

Virginia players spend $729.5 million on betting

As for spending, total handle for December was $734.4 million. This beats the previous year by 16% but is 3.5% behind the record $761 million bet in November. It is, however, the second-highest monthly amount on record.

Players wagered $729.5 million online during December and a further $4.9 million at retail facilities inside casinos.

This resulted in a state-wide hold of 5.98% for the month. Player winnings in December hit $684.8 million.

Tax tops $6.6 mill..

February 3, 2025

Robinhood to offer Super Bowl betting via Kalshi

Partnership with brokerage makes event contracts available to large swath of population.

Robinhood announced on Monday (3 February) morning that it will be offering event contracts via Kalshi for Super Bowl LIX, creating the potential for a significant expansion of prediction market event trading. The Super Bowl is set for Sunday (9 February) between the Kansas City Chiefs and Philadelphia Eagles.

Front Office Sports was the first to report the announcement.

According to a press release from Robinhood, the brokerage views event contracts as “an opportunity to better serve our customers as their interests converge across the markets, news, sports and entertainment.” It plans to have event contracts available in all 50 states through Kalshi, saying they “leverage the power and rigour of the financial market structure to facilitate greater liquidity, transparency and price discovery”.

Access to Robinhood marketplace

The partnership furthers Kalshi’s rapid movement in getting Super Bo..

February 3, 2025

Weekend Report: BetMGM fined in PN, NC eyes new sports betting tax, EveryMatrix pens record Norsk Tipping deal

Welcome to the Weekend Report, where iGB looks at the news that you may have missed over the last few days. This week: BetMGM fined in Pennsylvania for self-exclusion breach, North Carolina eyes new sports betting tax policy and EveryMatrix pens record deal with Norsk Tipping.

BetMGM to pay $260,905 in Pennsylvania

First, BetMGM has been fined $260,905 (£212,364/€254,701) in Pennsylvania for breaching rules on self-exclusion.

The Pennsylvania Gaming Control Board (PGCB) found BetMGM allowed self-excluded online casino individuals to place bets. Some 148 accounts on BetMGM were identified as players who had self-excluded, PlayPennsylvania.com reports.

From these accounts, a total of $252,035 was deposited and $82,460 withdrawn. BetMGM also flagged a further three separate incidents across 2021, 2022 and 2022 involving four more self-excluded individuals.

Overall, $436,381 was deposited by self-excluded users with $175,477 withdrawn. The difference between these amounts is $260,904,..

February 3, 2025

In rare occurrence, Nevada gaming positive in December, YoY despite Strip decline

The latest round of data from the Nevada Gaming Control Board, released on 30 January, showed that the state's gaming industry was positive year-over-year for December and 2024 as a whole, despite Strip declines for each.

The Nevada December revenue report showed that gross gaming revenue (GGR) totalled $1.46 billion (£1.17 billion/€1.4 billion) for the month, up 2% from last year. For 2024, the total was $15.6 billion, a slight (+0.55%) uptick from calendar year 2023. That represents the fourth consecutive record-setting calendar year for the Silver State, following the drudges of the 2020 Covid pandemic.

But perhaps the most interesting thing about those increases was that they came despite declines from the Las Vegas Strip, the economic driver of the state. In December, the Strip posted $881.2 million in GGR, down 2.6% YoY, its sixth consecutive monthly decline.

For the fiscal year-to-date (1 July-31 December), the Strip is down more than 5%, the most of the state’s major..

February 3, 2025

Many UK players turn to gambling for escapism says Gambling Commission report

In a special report using data from the Gambling Survey for Great Britain, the UKGC has broken down the key motivators for UK gamblers, with escapism one of the driving factors.

On 30 January the UK Gambling Commission published an add-on piece of research to the Gambling Survey for Great Britain (GSGB) report released in July. The survey is the first comprehensive report looking at the behaviour of gamblers in Britain, including what the key motivators are for players across multiple verticals.

This latest report, which cites findings from the Reasons for Gambling Questionnaire (RGQ), considers the relationship between different gambling activities and the players’ reason for engaging in them.

The RGQ contained a series of 15 questions on the reasons GSGB participants gave for taking part in gambling. People who had gambled in the past 12 months were asked to state how often their main reason for gambling was indeed their key motivator across all activities they had listed. They..

February 3, 2025

Swedish report flags link between loot boxes and problem gambling

A report by Spelinspektionen has found a link between young adults that participated in gambling via video games while under age and risky gambling behaviours.

Published on 29 January, the study looks at the relationship between young people and gambling in Sweden. It focuses on individuals within the 18-24 age group and the results were presented to the government.

The results showed a link between those who started purchasing loot boxes as a minor and those who went on to show problematic gambling behaviours. Of those that purchased loot boxes before the age of 15, 87% displayed risky gambling behaviours as an adult.

Loot boxes and skin gambling on the rise

Among the stand-out findings was the increasing crossover between video games and online gambling. Loot boxes offer players the chance to purchase in-game items via a mystery box, while skin gambling using virtual goods, like player skins, to gamble.

Of all male young adults who took part in the survey, each had experienced ..

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