Gaming – Page 6 – FairOdds Network

January 8, 2025

India GST enforcement agency given blocking powers for tax-avoiding gaming sites

The ministry of finance in India has granted new powers to the directorate general of GST Intelligence (DGGI) to begin blocking online gaming websites and mobile applications that are illegally avoiding goods and services tax (GST) in the country.

Confirmed this week in the Gazette of India, the new regulation – SO 95(E) – is effective immediately. The ministry said this intends to address fraudulent activities under both the Information Technology Act 2000 and GST Act 2017.

The DGGI is an agency tasked with mitigating tax evasion on behalf of the GST Council which enforces the tax requirement.

Online real money gaming companies operating in India are required to pay a 28% turnover tax for skill games. This was first enforced in October 2023 and was reiterated on 10 September last year, following a performance review of the tax measure.

Operators must be registered under the Simplified Registration Scheme of the IGST Act and appoint a person based in India to pay their GST contri..

January 6, 2025

Maryland, Virginia lawmakers to consider online casino legalisation

State legislatures across the US will consider legalising online casino in 2025, including Maryland and Virginia, where bills have been filed.

Delegate Vanessa Atterbeary, chair of the Maryland house ways and means committee, will again try to move an online casino bill in Maryland. HB 17 would allow for igaming regulated by the Maryland State Lottery and Gaming Control Commission (MSLGCC). It was pre-filed in December and it will officially be filed on 8 January, when the legislative session opens.

The bill is similar to one she filed last year that passed the house but didn’t get to the senate floor. Concerns about how digital gambling would cannibalise retail casinos became a sticking point. A senate bill suffered the same fate.

Atterbeary’s latest version would allow for existing video lottery operators and sports betting facilities to apply for icasino licences. The MSLGCC would also be able to issue five licences for applicants who “meet the requirements for an internet gamin..

January 3, 2025

Portugal topples online gambling revenue record again in Q3

Online gambling revenue in Portugal hit an all-time-high for the eighth consecutive quarter in Q3, driven by a record performance from the nation's internet casino market.

Gross online gambling revenue in Portugal hit €266.3 million (£220.9 million/$273.8 million) during Q3. This surpasses Q3 of 2023 by 23.7% and the previous quarterly record, set in Q2 2024, by 1.7%.

Online casino revenue hits record €175.1 million

Data from regulator Serviço de Regulação e Inspeção de Jogos (SRIJ) shows this growth was driven by the online casino segment. Here, gross revenue hiked 31.2% year-on-year to an all-time high of €175.1 million. This also surpassed Q2 revenue by 10.5%.

Spending on internet-based casino games hit €4.87 billion in Q3, another new record and a 33.7% increase from 2023, as well as 11.6% higher than Q2.

As has been the case for some time, slots remain by far the online casino game of choice in Portugal. Slots drew 80.4% of all wagers during Q3, ahead of French roulette ..

December 20, 2024

Betano deputy CEO points to localisation and sponsorship as the keys to success in Brazil

Betano looks set to be one of the frontrunners when the legal market launches in Brazil on 1 January 2025, with deputy CEO Aris Dimarakis emphasising the importance of sponsorship and a localised approach.

Legal online betting in Brazil is now less than two weeks away, and operators such as Betano have been jockeying for position to ensure they capitalise on being among the first to enter what will likely be a top-three global gambling market.

Betano was the first to apply for a licence back in May, with the company enjoying early brand awareness advantages due to its sponsorship-heavy strategy.

Making Betano visible across Latin America

Betano sponsored the Copa América football tournament over the summer, while it also sponsors the top-flight league in Brazil, as well as a number of clubs.

Betano’s sponsorship of the copa América afforded the brand huge visibility across latin america

Dimarakis believes this has been crucial to Betano becoming front and centre in the Brazilian..

December 19, 2024

Record sports betting, igaming drive Pennsylvania revenue to all-time high in November

Record monthly revenue from sports betting and igaming in Pennsylvania helped to push overall revenue in the state’s gambling market to an all-time high of $562.4 million (£447.4 million/€543.4 million) in November.

November’s revenue total beat last year by 26.5% and is 13.3% above $496.6 million in Pennsylvania in October of this year. It surpasses the existing record of $554.6 million, set in March, by 1.4%, Pennsylvania Gaming Control Board (PGCB) data shows.

Aside from total market revenue, the stand-out figures from the PGCB data are in reference to sports betting.

Gross revenue reached a record $77.1 million, up 498.4% on last year – in November 2023, operators had a record-low 1.38% hold. The all-time revenue high was $72.5 million, set last December, with the November 2024 total beating this by 6.3%. Of this sum, $71.7 million came from online betting and $5.4 million from retail sportsbooks.

Betting handle in Pennsylvania also hit an all-time high of $935.5 million. Coinc..

December 18, 2024

Michigan sets new sports betting and igaming records in November

Michigan operators reported several new records during November, including gross receipts from igaming hitting an all-time high of $226.0 million (£177.9 million/€215.3 million).

Gross internet gaming and sports betting receipts from commercial and tribal operators in Michigan topped $284.3 million in November. This is 35.9% above November last year and 12.1% ahead of October this year, the Michigan Gaming Control Board (MGCB) reported yesterday (17 December).

After accounting for promotional spending, total market adjusted gross receipts for the month was $240.4 million. The figure is 51.9% ahead of last year and 15.3% higher on a month-on-month basis.

Another new igaming record in Michigan

As was the case in the previous month, igaming was a highlight for Michigan operators in November. Gross igaming receipts were 28.9% higher year-on-year and surpassed the existing record of $220.7 million in October by 2.4%.

Adjusted gross receipts from igaming hit $203.3 million, up 28.8% fro..

December 17, 2024

Another new igaming revenue record for New Jersey in November

New Jersey set a new igaming revenue record for the fourth straight month in November, as all licensed verticals grew year-on-year.

Overall gambling revenue for the month hit $556.9 million (£438.6 million/€530.1 million), the New Jersey Division of Gaming Enforcement (DHE) reports. This is comfortably clear of $482.4 million last year and 11.4% above $499.8 million this October.

Sports betting and igaming were the standout performers in the New Jersey gambling market in November, with both verticals reporting double-digit growth. Land-based casino revenue in New Jersey was also up year-on-year.

After slipping behind online casino’s contribution in recent months, land-based was once again the main contributor to revenue in the month.

Land-based casinos make a comeback

Despite another record month of igaming revenue, the segment slipped back behind land-based casinos in terms of the area that generated the most gambling revenue in New Jersey.

Revenue from land-based casinos in No..

December 11, 2024

Super Group raises full-year revenue guidance to €1.6 billion

Super Group, the parent company of Betway, has increased its full-year revenue guidance by 3.2% following a “strong” performance in the first two months of the fourth quarter.

Revenue at Super Group for the 12 months to 31 December 2024 is expected to reach €1.6 billion (£1.32 billion/$1.68 billion), the operator announced today (11 December). The group previously forecasted a full-year revenue of €1.55 billion.

In addition, adjusted EBITDA, excluding the US, is on track to hit €360 million in 2024, 4.3% above its earlier guidance of €345 million. Super Group is expected to publish its full-year results in March or April next year.

The group’s favourable performance in Q4 is the reason behind its increased forecast. Both October and November were “strong” months for the business, it said, although it did not provide any additional context.

CEO Neal Menashe said he is “proud” to be in the position to increase guidance and pay an extra dividend. He said Super Group will seek to buil..

December 11, 2024

Illinois FY24 gambling report: Tax revenue over $2 billion, but casinos not key drivers

Data from the fiscal year 2024 edition of the Wagering in Illinois report from the legislature's Commission on Government Forecasting and Accountability showed that the state's gaming industry generated a record $2.08 billion (£1.62 billion/€1.97 billion) in tax revenue in FY24, the most ever for the Prairie State.

According to the report, state tax revenue grew 4.8% year-over-year from $1.99 billion in FY23. Illinois has one of the strongest gaming industries in the US, with casino gaming, video gaming (slot routes), sports betting, horse racing and lottery.

The report covers not just the last fiscal year, but references financial reports dating back to legalisation dates for each genre of gambling.

The commission noted that FY24’s growth was “largely driven by the steady expansion of video gaming, elevated lottery sales and rapid growth in sports wagering”. The first two sectors generated the majority of tax revenues – $886 million from the lottery and $848 million fr..

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 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 ..

November 28, 2024

Aposta Ganha eyes 10% market share as one of Brazil’s first betting licensees

Aposta Ganha expects to take up to 10% market share in Brazil's licensed betting market after securing one of the first licences and gaining early mover advantage.

Aposta Ganha announced on Tuesday (26 November) that its betting licence had been approved by the Secretariat of Prizes and Bets (SPA), paving the way for the operator to enter the legal betting market in Brazil in January.

As a local operator, the company takes pride in being one of the first to receive licence approval in its home country.

Aposta Ganha CCO Hugo Baungartner describes it as a “big, big step”, one that reinforces the operators’ belief that the soon-to-be regulated sector in Brazil will support and protect players and stakeholders.

“We are really happy to get this and this whole thing just comes to reconfirm that we are a group in Brazil that really believes in the market, being a Brazilian group and always, always trying to make the best things for Brazil as well and that’s why we were on the one ..

February 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

Tag: Gaming