Betting News – Page 15 – FairOdds Network

February 24, 2025

Maryland lawmaker files bill to kill sports betting

The latest trend in sports betting legislation seems to be to try to shut down legal markets.

On 20 February a Maryland lawmaker filed a bill to shut down that state’s legal sports betting market. It is the second bill across the US this year calling for the end to an already legal market. Lawmakers in Vermont filed a similar bill there on 4 February.

In Maryland, Senator Joanne Benson filed SB 1033, which would shut down the legal online sports betting market on 1 January 2026. In the text of the bill, Benson suggests that some operators have application fees refunded in certain circumstances. It would not affect the status of Maryland’s brick-and-mortar sportsbooks.

Retail sports betting launched in December 2021 in Maryland. Digital platforms launched in November 2022. Through January 2025, bettors had wagered a combined $12.2 billion (£9.6 billion/€11.7 billion) across both verticals, and the state got $143.2 million in tax revenue. Operators reported gross gaming revenue of ..

February 24, 2025

Weekend Report: Fresno State basketball betting inquiry, Bet365 in Tennessee

Welcome to the Weekend Report, where iGB looks at the news that you may have missed across Friday, Saturday and Sunday. This week: Fresno State basketball faces betting inquiry, Bet365 lands Tennessee licence and Altenar pens Immense Group sportsbook deal.

Sources allege Fresno State basketball betting inquiry

The basketball programme at California State University, Fresno has reportedly found itself at the centre of a betting enquiry.

Sources close to the matter told ESPN on 22 February the case involves several of the Fresno State team’s players. So far, one player has been removed from the team, while two others have been suspended.

Mykell Robinson has not played for Fresno State since January and is no longer on the team. Fresno State also said in a statement that guards Jalen Weaver and Zaon Collins were being withheld from competition while the university reviews an “eligibility matter”.

The sources said Fresno State launched an investigation after receiving a tip off. The N..

February 21, 2025

Missouri secretary of state rejects emergency betting rules; launch now set for fall

On Friday (21 February) Missouri's secretary of state said he is rejecting the “emergency” status for sports betting rules. The regulator says this will delay the proposed June launch.

Missouri secretary of state (SOS) Denny Hoskins is rejecting the proposed emergency sports betting rules filed by the Missouri Gaming Commission (MGC). And the commission says it is pushing the sports betting go-live date to the fall.

Saying that the “the situation does not warrant an “emergency” rulemaking designation, Hoskins told iGB that the “proposed emergency rules were intended to address specific aspects of gaming regulations. However, following a thorough review, it was concluded that the matter does not meet the criteria for emergency rulemaking according to Missouri law.”

Hoskins said the proposed emergency rules, which were sent to Governor Mike Kehoe on 27 January, could “proceed through the standard rulemaking process which includes the opportunity for public input”.

Missouri law ..

February 21, 2025

State of the Union: RG study might not be what it seems; Canada election betting

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.

Study raises RG alarm, but should it?

Since the Professional and Amateur Sports Protection Act (PASPA) was overturned in 2018, the number of internet searches terms around “gambling addiction” has risen 23% nationally, according to an American Medical Association JAMA Internal Medicine investigation. Published on 17 February, the responsible gaming (RG) study revealed that searches rose most in Pennsylvania (50%), Massachusetts (47%), New York (37%) and New Jersey (34%).

In the abstract, investigators wrote, “The results of this time series study suggest that access to sportsbooks, sports wagers and potential help-seeking for gambling addiction increased substantially and highlight the need to address the health implications of sportsbooks, including recognition and treatment of gambling problems and their b..

February 21, 2025

Pennsylvania gambling revenue up in January despite sports betting decline

Gambling revenue in Pennsylvania increased 10.9% year-on-year during January despite the state’s sports betting market reporting further declines.

Total market revenue in January amounted to $529.1 million (£417.8 million/€504.7 million). This, according to figures published yesterday (20 February) by the Pennsylvania Gaming Control Board, surpasses $477.2 million in January 2024.

This total does, however, fall 0.8% short of the $533.1 million generated in December.

Online gambling the star of the show in Pennsylvania

Starting with online gambling, revenue here climbed 40.5% year-on-year to $210.2 million. This, however, falls short of the record $223.6 million reported in December last year.

Online slots drew the most revenue in this sector, with the $158.6 million being 44.2% ahead of last year. Internet table games revenue also climbed 32.7% to $48.9million, although online poker revenue dipped 2.3% to $2.6 million.

Spending-wise, consumers wagered some $4.23 billion on online..

February 21, 2025

Massachusetts smashes sports betting revenue record in January

Sports betting revenue in Massachusetts reached a record $94.4 million (£74.6 million/€90.2 million) in January, while monthly handle hit its third-highest monthly total since the state opened its legal market.

Gross gaming revenue for the month was 32.8% higher than the $71.1 million reported in January last year. It also far exceeds the existing Massachusetts monthly record – $75.4 million in September 2024 – by 25.2%.

Data published yesterday (20 February) by the Massachusetts Gaming Commission reveals online sports betting revenue totalled $93.6 million in January. Retail betting also generated $778,953 in monthly revenue.

Incidentally, this bucks the trend of sports betting struggles seen in the industry during January. Pennsylvania, which also posted monthly revenue figures yesterday, reported a 26.4% year-on-year drop in betting revenue.

As for handle, player spending totalled $762.5 million, which beats last year by 17.0%. It is also only 3.3% behind December’s record $788…

February 21, 2025

Sweden gambling revenue edges up to SEK27.85 billion in 2024

Gambling revenue in Sweden increased 2.65% year-on-year during 2024, driven by growth within the country’s commercial online gaming market.

Total gambling revenue in the 12 months to 31 December 2024 hit SEK27.85 billion (£2.07 billion/€2.49 billion/$2.62 billion). This surpasses the SEK27.13 billion reported in Sweden in the previous year.

Figures published by regulator Spelinspektionen yesterday (20 February) highlight igaming as the stand-out market in Sweden. During the 12-month period, online gambling generated SEK17.84 billion in total revenue, an increase of 5.0% from the 2023 total.

Annual revenue from state lottery and slots also increased 2.2% year-on-year to SEK5.72 billion. On top of this, non-profit games and national lotteries revenue climbed 2.6% to SEK3.70 billion.

Casino Cosmopol closures impact clear to see in Sweden

In other parts of the market, the news was somewhat mixed. Land-based commercial gaming, such as restaurant casinos, saw revenue increase by 4.0% to..

February 20, 2025

Horse racing betting turnover impacted by affordability checks says BHA

The British Horseracing Authority has blamed the Gambling Commission's financial risk checks for falling betting revenue in 2024, as it says punters have moved to unlicensed operators.

In its BHA racing report 2024 published on 19 February, the authority stated that total betting turnover fell by 6.8% in comparison to the previous year. This is a 16.5% downturn when compared to 2022.

While the BHA would not disclose the betting turnover value, it told iGB that the rate consists of both retail and digital betting.

In its report, the BHA found that the decline in total betting turnover slowed to under 1% in the second half of the year. However, it stated that it had run more races in that period when compared to 2023, adding that the “average race turnover” was down by 4% in 2024.

BHA director of racing Richard Wayman wrote in the report that he has “no doubt” that the drop in betting revenue was “headed by the impact of affordability checks”.

Wayman said these have resulted i..

February 20, 2025

New Victoria licence drives revenue and earnings growth at Tabcorp in H1

Australia’s Tabcorp has reported year-on-year growth across revenue, underlying EBITDA and net profit during the first half of its 2025 financial year, primarily due to the impact of a new licence in the state of Victoria.

For the six-month period to 31 December 2024, Tabcorp posted group revenue of AUS$1.33 billion (£672.4 million/€812.2 million/US$846.1 million). This surpasses H1 of the previous year by 10.1%.

Awarded in December 2023, the new Victoria licence came into effect in August 2024. It grants Tabcorp exclusive rights to offer wagering and betting in Victoria for the next 20 years. While still in its infancy, the licence impact was clear to see in Tabcorp’s H1 results, published today (20 February).

The licence means Tabcorp no longer need to collaborate on the joint venture arrangement with the Victorian racing industry. Other industry funding obligations were also terminated, with Tabcorp instead paying wagering taxes and racing and sports product fees on the same bas..