Betting News – Page 23 – FairOdds Network

December 10, 2024

Michigan lawmakers seeking online gambling hike of 1% or less

The measures seek the most modest of bumps to the tax rates, avoiding putting much pressure on operators.

Two Michigan state senators, Sam Singh and Jeremy Moss, have introduced two bills proposing modest tax increases on sports betting and igaming revenue. However, unlike other states that have attempted to introduce massive increases, these legislators are taking a more subtle approach.

Introduced 5 December, Senate Bill 1193 seeks to raise the tax rate on commercial sports betting operators’ adjusted gross receipts from 8.4% to 8.5%. It only applies to non-tribal betting; the state can’t adjust tribal betting rates.

The increase would give slightly more revenue to the city in which the sports betting operator’s land-based casino partner is located. That figure is now 30%, but the bill would increase it to 31%.

Proposed online casino tax hike is tiered

Concurrently, Senate Bill 1194 proposes a tiered increase in igaming tax rates, with adjustments depending on revenue brackets. ..

December 10, 2024

Weekend Report: footballer and tennis official banned for betting breaches, Omnigame secures Danish licence

Welcome to the Weekend Report, where iGB looks at the news that you may have missed across Friday, Saturday and Sunday. This week: bans issued to Irish footballer and Bosnian tennis official for breaching betting rules, Omnigame picks up Danish licence and Yolo makes new senior appointments.

Irish footballer faces ban over betting charge

The Football Association of Ireland (FAI) has issued a six-month ban to Finn Harps FC player Ryan Rainey after he was found to have breached betting rules.

Breaches are connected to a number of League of Ireland and Men’s FAI Cup games that took place between 2021 and 2024. The FAI said Rainey also placed a “significant” number of bets on football worldwide in 2024.

After a disciplinary hearing, an Independent Disciplinary Committee ruled Rainey should face a ban. This has since been confirmed by the League of Ireland, in which his team, Finn Harps FC, plays.

Rainey, who previously played for English Premier League club Wolverhampton Wanderers, to..

December 10, 2024

New Zealand government seeks to end greyhound racing

New Zealand's government has today (10 December) announced plans to end greyhound racing in the country, with racing minister Winston Peters hoping to introduce legislation to facilitate the shut-down next year.

Taking the decision, the government said the greyhound industry has been on notice over animal welfare concerns for several years. Three reviews into racing over the past decade all recommended significant changes within the sector.

Peters said a more detailed legislation will come to the table next year. However, he did reveal that the government intends to wind down greyhound racing over a 20-month period. This, he said, will enable the rehoming of dogs and provide a transition period for people involved in the industry.

“This isn’t a decision taken lightly but is ultimately driven by protecting the welfare of racing dogs,” Peters said. “Despite significant progress made by the greyhound racing industry in recent years, the percentage of dogs being injured remains per..

December 9, 2024

North Carolina has second-best wagering handle month since launch

North Carolina bettors wagered a near record $657.7 million (£515.8 million/€623.3 million) in November, the second-highest handle since betting went live in March.

The largest total bet in a month in North Carolina was $693.3 million in March, when wagering went live. That amount includes real-money and promotional bets. In November, bettors laid down $638.7 million and operators wrote off $19 million in promotional play. In March, bettors wagered $456.7 million in real-money bets and also used $202.6 million in promotional play.

Operators in the Tar Heel state took in record revenue of $78.1 million for November, according to today’s (9 December) report from the North Carolina State Lottery Commission. The next highest gross gaming revenue (GGR) month was September, when operators reported $70.1 million.

Through nine months, bettors have wagered $4.4 billion with an additional $434.3 million in promotional play. The level of promotional play was at its peak in March, but has be..

December 9, 2024

US senators want FTC to investigate DraftKings, FanDuel

Senators Mike Lee and Peter Welch accuse the two operators of conspiring to control the US sports betting market.

Two US senators have formally requested that the Federal Trade Commission (FTC) and the Department of Justice (DOJ) investigate online sports betting platforms DraftKings and FanDuel.

In a letter dated 5 December, Republican senator Mike Lee and Democratic senator Peter Welch raised concerns about the companies allegedly coordinating efforts to suppress competition in the industry.

The senators cite public reports. These suggest DraftKings and FanDuel may have joined together to pressure other businesses not to work with rival betting platforms. Both companies are members of the Sports Betting Alliance (SBA). The senators claim the SBA has been used as a vehicle for these actions.

“After their merger to monopoly was blocked, it seems that FanDuel and DraftKings have arguably acted as one company, violating our antitrust laws,” wrote the senators.

We can’t allow online..

December 9, 2024

New Zealand government proposes extending TAB NZ monopoly online

New Zealand government has introduced new legislation to extend the current monopoly TAB NZ holds for retail sports betting and horse racing wagering in the country to also cover the online market.

Filed by racing minister Winston Peters and announced over the weekend, the legislation would amend the Racing Industry Act 2020. This would effectively grant a TAB NZ monopoly across the entire sports and horse racing betting market in New Zealand.

TAB NZ was established under the Racing Industry Act. It replaced the Racing Industry Transition Agency (RITA), which previously oversaw the country’s betting activity. According to the government, TAB NZ already accounts for 90% of revenue within the New Zealand racing industry.

Minister Peters said that extending the current monopoly model to online operations would increase revenue and support the wider industry. He added that establishing TAB NZ as the sole online operator would help protect consumers from illegal offshore sites.

“This le..

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..

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