Betting News – Page 31 – FairOdds Network

December 6, 2024

New York sets $231.6 million online sports betting revenue record in November

Mobile sports betting gross gaming revenue in New York reached a monthly record of $231.6 million (£181.6 million/€219.0 million) during November, while handle fell just short of the state’s all-time high.

Revenue from online sports betting was 53.5% higher than $150.9 million in November last year. It also surpassed the $176.3 million posted in New York in October this year by 31.4% and beat the state’s existing record – $211.5 million in January – by 9.5%.

Spending-wise, data from the New York State Gaming Commission reveals monthly handle for November hit $2.27 billion. This is the second-highest monthly amount on record since the state launch legal online betting in January 2022.

November’s handle total is 7.6% more than last year but fell 2.2% short of October’s record $2.32 billion spend. As for hold, the state-wide total for the month was 10.22%, a marked improvement from 7.60% in October.

FanDuel pulls further clear of DraftKings in New York

Looking now to operators, there..

December 6, 2024

State of the Union: Missouri margin was slim, FanDuel fined in MA, 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.

Final tally: Slim win in Missouri

Missouri voters passed a legal sports betting initiative on 5 November, but the vote count wasn’t official until yesterday (5 December). And it turns out that the proposal won by the slimmest of margins – .05%, according to the Missouri secretary of state’s (SOS) office. The SOS certified the results, which show that Amendment 2 won by 2,961 votes. A total of 2,954,343 ballots were cast on the initiative question.

The initiative was the richest in Missouri history, with proponents and opponents spending a combined $57 million. DraftKings and FanDuel were the biggest proponents, although Missouri’s professional sports teams took the lead on the getting the initiative on the ballot.

Kansans have gone all-in on sports betting. But soon, Missouri residents will be able to rol..

December 5, 2024

KSA probe finds Dutch licensees breached youth betting rules

Dutch gambling regulator Kansspelautoriteit (KSA) has issued warnings to several licensed operators after they were found to have breached regulations by offering betting on youth and amateur sports events.

Announced yesterday (4 December), seven Dutch licensees permitted betting on events where competitors were under the age of 21. Licensed operators in the country may only take bets on events where all players are at least 21.

KSA also discovered two licensees were offering prohibited bet types. These include betting on certain players to receive a red or yellow card, or total corners in a football match.

The regulator said all breaches took place during the 2023-24 football season. However, it did not disclose which operators breached the rules, nor the events or matches where the betting was permitted.

KSA contacted all licensees involved and ordered them to stop offering this type of betting to Dutch players. The regulator also warned other operators running these bets must al..

December 4, 2024

Las Vegas Strip revenue slides 3% in October for fourth straight YoY decline

October gambling revenue figures released today (4 December) by the Nevada Gaming Control Board (NGCB) showed that the state brought in $1.28 billion (£1 billion/€1.2 billion) in gross gaming revenue (GGR) for the month, a year-over-year decline of just over 2%.

Figures for the Las Vegas Strip were the highlight of the report, but not for good reasons. The Strip’s October GGR total of $692 million was a 3% drop year-over-year. That’s the fourth consecutive month of year-over-year declines for America’s gaming capital, which had its best year ever in 2023. For the fiscal year-to-date, the Strip is down more than 6%.

Strip slot revenue ($428.3 million) was up 5.5%, but table games (-14.5%) were tricky again in October. Baccarat revenue, which has become a boom-or-bust category that spurred records last year, plummeted 23.4% to $68.7 million. The Strip is down 33% on the game in the last three months.

Downtown Las Vegas had the worst month of all the southern Nevada markets. Its GGR..

December 4, 2024

Former poker pro pleads guilty to selling fake wagering advice in New York court

Cory Zeidman, a 63-year-old former professional poker player, today (4 December) pleaded guilty to two counts of mail and wire fraud associated with an illegal gambling scheme. Zeidman faces up to 20 years in prison and $3.6 million (£2.8 million/€3.4 million) in restitution and fines.

According to court records, Zeidman led a fraud ring that sold betting tips via radio ads followed by high-pressure sales. The group used fake names and also purported to have inside information about “dirty” officials, “fixed” games and predetermined outcomes, according to a press release from the US attorney’s office for the Eastern District of New York.

No sentencing date has been set.

Bettors were charged high fees for the service and were told that the information made wagering a low-risk proposition. According to the US attorney’s office, the information was made up or was public information found via internet searches.

“As alleged, Zeidman preyed on individuals who were led to believe he ha..

December 4, 2024

The sports betting graveyard: Key 2024 trend is smaller companies exiting the US

While BetMGM, Caesars Sportsbook, DraftKings, ESPN Bet, Fanatics and FanDuel continue to grow their customer databases and jockey for market share in sports betting, many of the smaller and often independent platforms have disappeared, leaving consumers with fewer choices.

This story originally ran in the December 2024 issue of GGB Magazine.

This year was the first since sports betting became a states’ rights issue in 2018 in which no state legislature legalised sports betting. Missouri voters did legalise that state in November. Two states – North Carolina and Vermont – launched live wagering, the lowest number since 2018. The only number that continues to rise is the number of wagering platforms downsizing or joining the sports betting graveyard.

Companies like Betr, Sporttrade and Underdog Sports have grown in this environment. Rather than rushing to get licensed and go live in any available market, these companies have thoughtfully and intentionally selected markets in which th..

December 3, 2024

Experts: Legal obstacles stifle Vietnam sports betting

Vietnamese sports bettors gamble billions of dollars a year, but most of the revenue goes to overseas operators. Experts say the market is ripe for development if the government amends a 2017 decree.

Vietnam could grow a lucrative sports betting industry, given more favourable regulations. That was the consensus of business and financial experts at a 28 November seminar, hosted by The Investor and Vietnam’s Association of Foreign Invested Enterprises (VAFIE).

Decree 6: Cumbersome, unclear and ineffective

According to the Tuoi Tre News, the conversation centred on Decree 6, implemented in Vietnam in 2017. The legislation ostensibly opened the door to legal betting on horse races, greyhound races and international football. It also laid out a framework for sports betting operators.

But speakers at the Hanoi seminar said the rules are vague, prohibitive and out of step with the times.

For gamblers, Decree 6 limits legal gambling to 20 pilot jurisdictions in Vietnam and caps bets at ..

December 3, 2024

UK darts players handed lengthy bans for match-fixing

The UK's Darts Regulation Authority (DRA) yesterday (2 December) banned players Leighton Bennett and Billy Warriner after they were found guilty of and admitted to charges of match-fixing.

Bennett has been suspended from darts for eight years and Warriner 10 years. The British players have also been ordered to pay £8,100 (€9,762/$10,271) each in costs.

The DRA ruling follows an International Betting Integrity Association (IBIA) report for suspicious betting activity released in September 2023. This relates to matches played in the Modus Super Series.

The matches in question saw Bennett play Mindaugas Barauskas and Benjamin Drue-Reus, both on 6 September 2023. Two more games took place on 8 September 2023, with Bennett facing Ryan Harrington and Barauskas for a second time.

Working with the Gambling Commission Sports Betting Intelligence Unit, the DRA launched a full investigation into the matter.

The DRA ruled both players had cases to answer for “serious” breaches of its rul..

December 2, 2024

Miriam Adelson more than quadruples 2022 Texas gambling contributions

The Adelson family, now majority owners of the Dallas Mavericks, have heavily backed gambling legislation in Texas over the last several sessions. But despite all the dollars put in, Texas politicians have not meaningfully considered the issue.

The Texas legislature meets only in odd-numbered years. During the 2023 session, the house approved a bill that would have allowed for statewide mobile betting controlled by the state’s professional sports teams and other sports entities, with the tax rate set at 10%. A destination resorts bill that included casinos was withdrawn from the house floor without a vote. Besides that, Texas’ lieutenant governor, Dan Patrick, said at that time he wouldn’t call for a vote on legal wagering.

He tweeted, “I’ve said repeatedly there is little to no support for expanding gaming from senate GOP. I polled members this week. Nothing changed. The senate must focus on issues voters expect us to pass. We don’t waste time on bills without overwhelming GOP sup..