Betting News – Page 79 – FairOdds Network

December 21, 2023

Louisiana smashes sports betting handle record again in November

Louisiana players wagered $356.5m (£282.1m/€325.8m) on sports during November, a new monthly record for the Pelican State.

The November handle surpassed the existing record high of $308.6m set in October 2022 by 15.5%. It was also 32.7% up from $268.6m in Louisiana in November last year.

Consumers spent $322.9m betting online during November and a further $33.5m at retail sportsbooks.

Revenue falls some way short of Louisiana record

louisiana’s november revenue fell short of october’s record total

While spending was higher, this was not reflected in the state’s monthly revenue figure. For November, revenue from online and retail wagering amounted to $19.4m.

This was significantly better than last year’s loss of $25.6m in Louisiana. The November 2022 loss was due to US businessman Jim “Mattress Mack” McIngvale winning several large bets on Major League Baseball’s World Series.

November’s revenue total was also 55.2% behind the October 2023 record of $43.3m.

Breaking down revenu..

December 21, 2023

Mississippi sports betting handle hits 11-month high in November

Players in Mississippi wagered $62.4m (£49.4m/€57.0m) on sports in November, the highest amount in the Magnolia State for 11 months, but still lower than the same month last year.

The monthly handle was 15.2% behind the $73.6m wagered in November 2022. However, it was 26.1% ahead of $49.5m in Mississippi in October this year and the highest total since $74.4m was bet in December 2022.

Turning to revenue, this reached $3.1m in Mississippi in November. This was 33.3% behind last year’s $5.1m total and also 53.4% less than $7.3m in October.

Mississippi November: Coastal casinos the venue of choice

mississippi’s sport betting market bounced back after shrinking in october

Breaking down the market, coastal casinos remained most popular for sports betting with consumers in Mississippi. Coastal casinos generated $1.4m in revenue from $43.1m in total bets in November.

Some $1.1m in revenue came from central casinos, which processed a total of $12.0m in bets.

In addition, northern casin..

December 20, 2023

Pennsylvania blames ESPN Bet for November betting revenue drop

Pennsylvania has reported a 1.7% drop in revenue despite sports betting handle reaching $900m for the first time.

The total revenue in Pennsylvania in November was $444.5m (£351.2m/€405.6m), down on the $452.4m reported the same month last year.

This was in spite of sports betting handle reaching $934.1m, smashing the previous record of $829m recorded in October of this year. Notably, November’s sports betting handle was 18.4% higher than the $789.2m accumulated in the same month last year.

ESPN Bet blamed for Pennsylvania’s sports betting revenue decrease

Despite the sizeable increase in handle, sports betting revenue fell to $12.9m in November from $52.9m in October, a 73% drop month-on-month.

The Pennsylvania Gaming Control Board pointed to a low hold percentage, as well as the November launch of ESPN Bet, as reasons for the “steep drop in revenue”.

Operating under the Hollywood Casino at Penn National, ESPN Bet recorded a $7.8m loss, largely because of its “significant amount..

December 20, 2023

Michigan operators boosted by record monthly igaming receipts

Michigan’s commercial and tribal igaming operators generated record gross receipts of $175.3m (£138.5m/€160.2m) in November, according to the state’s regulator.

Michigan’s total gaming revenue beat the previous record of $171.8m in March and $160.3m in October, the Michigan Gaming Control Board stated. Total igaming handle was not reported.

November’s total online sports betting handle of $568.8m also set a new monthly record – up 6.7% from $533m in October. However, online sports betting receipts fell from $45m to $33.9m versus the previous month.

Accordingly, igaming and sports betting gross receipts totalled $209.2m in November. This represented a 1.9% increase on October’s total.

Sports betting falls in Michigan

Combined igaming and internet sports betting adjusted gross receipts (AGR) for Michigan in November totalled $158.1m. This included $157.8m from igaming and just $294,810 from online sports betting.

The November totals represented a month-on-month 9.4% increase and 9..

December 20, 2023

MGA publishes performance report for H1 2023

The Malta Gaming Authority (MGA) released its Interim Performance Report for H1 2023 on Tuesday 19 December.

The report studies the MGA’s achievements over the first half of the year, as well as the performance of the Maltese gaming industry as a whole.

The MGA conducted 14 compliance audits over H1, as well as 85 desktop reviews. The regulator handed out nine administrative penalties, with a total financial penalty of €124,400 (£107,697/$136,345).

The MGA also carried out 11 Compliance Examinations on behalf of the Financial Intelligence Analysis Unit (FIAU). During the same period, the FIAU imposed administrative penalties on three licensees based on violations discovered during examinations carried out in previous years. In total, these amounted to €599,420.

The MGA gave their assistance to 2,216 players who requested help, while 40 responsible gambling website checks were carried out. It issued 16 observation letters to highlight potential areas for improvement.

The MGA issued..

December 19, 2023

BetMGM and NHL announce multi-year extension to partnership

BetMGM will continue to be an official sports betting partner of the National Hockey League (NHL) after penning a multi-year extension.

The renewal, announced on Tuesday, will see BetMGM continue to use NHL imagery on its casino games and have “significant branding” visible on nationally televised broadcasts.

BetMGM signed the initial deal in 2018. In April 2022, BetMGM joined FanDuel in expanding its partnership with the NHL. This move was announced in the wake of Ontario launching its sports betting market, allowing BetMGM to expand into Canada for the first time.

BetMGM chief executive Adam Greenblatt is excited for the continuation of the partnership, saying: “Our partnership extension with the NHL enables us to enhance the BetMGM product and offer fans unforgettable entertainment built around the game they love.

“The NHL is more thrilling than ever – a symphony of athleticism, teamwork and skill on skates. We look forward to bringing our customers exceptional live experiences ..

December 19, 2023

Washington DC revenue down 38.6% in November

Washington DC’s gross gaming revenue (GGR) fell 38.6% in November, the DC Lottery announced on Monday.

Washington DC’s GGR decreased to $1.2m (£942,086/€1.1m) in November, falling well behind the $1.9m recorded in September and the $2m accumulated in October.

The reduced GGR was despite total handle increasing to $17.1m from $16.4m in October.

It was a great month for bettors, with average hold percentage standing at just 7.17%. As a result, tax revenue dropped to $122,801, the lowest since August.

Washington DC continues to stagnate

Washington’s November handle was down 20.1% year-on-year, receiving $21.4m in wagers in November 2022.

Washington dc’s revenue declined year-on-year in november

GGR decreased 53.8% from November 2022’s $2.6m. Washington’s November tax revenue of $122,801 fell well behind the $264,169 recorded in the same month last year.

This is following the trend, with Washington DC’s sports betting market also declining year-on-year in October.

Despite the dis..

December 19, 2023

SharpLink: The personalisation effect

Sports betting is a multi-billion dollar industry and everybody wants a slice of that pie. Cole Rush speaks to Rob Phythian, CEO of SharpLink about how personalisation can improve the sports betting experience.

Operators have boiled their launch processes down to a science, offering welcome bonuses to bring players to their platforms. From there, retention is the true goal. That’s where SharpLink comes in.

“There’s a huge audience for betting, but the experience can be pretty one-dimensional and transactional,” says Phythian. “The technology today gets you live and gets you secure, but it leaves you a generation behind.”

Phythian compares sports betting to tech giants like Netflix or Amazon. Consumers expect personalisation and tailored recommendations in almost every industry. In sports betting, they’re not getting that same degree of personally catered offers.

SharpLink aims to change that. The company seeks to understand user behaviour and serve it back to bookmakers so they can..

December 19, 2023

STS appoints new CEO and chair following Entain CEE buy-out

STS has announced a management reshuffle with a new CEO and chairman appointed in the wake of its acquisition by Entain CEE.

Radim Haluza will become the Polish sports betting operator’s new chief executive, while also remaining as CEO of Entain CEE. Long-serving STS chief executive Mateusz Juroszek switches from that role to become chairman of the supervisory board.

The changes come four months after Entain CEE acquired STS in a £750m deal. Entain CEE is a joint venture between Entain, investment management company Emma Capital and the Juroszek Family.

ENTAIN ACQUIRED STS FOR £750M IN AUGUST 2023

Juroszek said the changes to STS management will improve structure and operations within STS and Entain CEE. Juroszek, as chairman, is charged with taking further care of the group’s strategic development.

Haluza, who takes over his new role on 1 January, is also the CEO of SuperSport, Croatia’s largest gaming and sportsbook operator. This business was bought by Entain CEE for £690m in N..

December 18, 2023

Massachusetts’ November revenue – are we seeing ESPN Bet’s first surge?

Massachusetts’ gaming revenue dropped during November despite seeing its monthly sports betting handle record smashed. More interesting, however, was Penn Interactive's surge in wagers.

Casino takings were pretty much flat compared to the previous month according to figures released by the Massachusetts Gaming Commission. However, a good month for punters saw sports betting accrual win drop by $10m compared to October.

Total taxable gaming revenue of $143.0m for all casino and sports betting was down by 7.7% compared to the $155.8m generated in the previous month.

Total sports betting revenue hit by low hold rate

In reviewing aggregated sports betting performance, Massachusetts’ eight mobile and online sports wagering licensees and the three in-person licensees generated accrual win of $50.6m.

Some $654.4m was wagered by sports bettors during November, which was up almost 15% on the $571.8m spent in October. It was 12% greater than the previous best month for Massachusetts b..

December 18, 2023

Episode 24: Victor Rocha on California’s betting ballot measure

The industry was shocked when a new California sports betting ballot measure landed after last year’s bruising fight, but Pechanga.net's Victor Rocha tells the World Series of Politics that tribes are up for the next battle.

Rocha, one of the most eloquent and influential voices in the Indian Gaming Association and host of The New Normal, tells Brendan Bussmann and Robin Harrison how any California sports betting debate will shake out.

“Smoke and mirrors”

“It’s insulting,” Rocha says of the new ballot measure, arguing it looks to drive a wedge between Californian gaming and non-gaming tribes. A set of amendments doesn’t make it any more palatable. “It’s all smoke and mirrors.

“These guys are not listening, because they don’t care. They want to go forward and they are shocked they don’t see Indians running towards them throwing flowers at their feet.”

California sports betting: All roads lead to the tribes

Gaming tribes aren’t trying to be obstructionist, he explains, in fig..

December 18, 2023

Sun International acquires Peermont in ZAR7.3bn deal

South Africa's Sun International has agreed the purchase of Peermont, including its flagship Emperors Palace resort and online brand PalaceBet.

The deal, announced on Monday, is worth ZAR7.3bn (£313m/€363.2m/$396.6m). Sun International labelled the move a “unique opportunity”, acquiring a “world-class and highly cash generative” company in Peermont.

The agreement sees Sun International obtain Peermont’s 11 properties across South Africa and Botswana. The online sports betting site PalaceBet is also included.

Emperors Palace is a leading casino resort in Gauteng, with 1,695 slot machines, 69 gaming tables and 757 rooms. In Sun International’s announcement, it pointed to the resort’s “unique proximity” to the OR Tambo International Airport as an opportunity to attract “high net-worth customers”.

The move was backed by the group’s investors, with 62.54% of shareholders providing written support for the purchase. Sun International believes the transaction will “enhance the qualit..

April 2026
Mon	Tue	Wed	Thu	Fri	Sat	Sun
		1	2	3	4	5
6	7	8	9	10	11	12
13	14	15	16	17	18	19
20	21	22	23	24	25	26
27	28	29	30