Online casino – Page 12 – FairOdds Network

June 26, 2024

Betsson secures betting and igaming licences in Peru

Online gambling operator Betsson today said it has secured a licence to operate the Betsafe and Bettson brands in the newly regulated Peru market.

The licences cover online casino and sports betting for both brands and Betsson expects to also soon obtain approval for its Peru-facing Inkabet business.

Betsson has had a presence in Peru since 2008. In 2019, it expanded its reach in the country by launching its Betsafe brand. Two years later, it also acquired locally-licensed online betting and sports brand Inkabet for $25m.

Regulation of the Peru market earlier this year meant Betsson had to secure full licence approval to continue operating in the country. Law no 31557, which regulates online gaming and sports betting, went into effect on 9 February.

Operators had until 10 March to apply for a licence. Peru’s ministry of foreign trade and tourism received 145 requests for operator licences from both national and international operators.

“We have really looked forward to Peru introd..

June 19, 2024

Ontario igaming outperforms five-year state contribution and employment targets says Deloitte

Ontario’s commercial igaming sector outperformed various five-year economic contribution targets set by Deloitte between 2023 and 2024, including jobs sustained and government revenue contributions.

According to a report by Deloitte published on 19 June, the igaming market in Ontario hit or almost reached many of Deloitte’s year-five projections within its second year, with the market (excluding the state-backed lottery operator) contributing CA$2.7bn (US$1.97m) to GDP and sustaining almost 15,000 full time equivalent jobs in the province.

Of this, $1.3bn contributed to labour income. In comparison, market contribution in Ontario’s first year of operation hit $1.58bn, after Ontario’s online gambling market went live on 4 April 2022.

Between April 2023 and April 2024, direct jobs sustained hit 120% of Deloitte’s five-year prediction, with government revenues (94%), total full-time jobs sustained (92%) and GDP contributions (93%) also outpacing initial expectations.

The report said..

June 19, 2024

Michigan online gambling revenue tops $239.5m in May

Online gambling revenue in Michigan hit $239.5m (£188.3m/€223.0m) in May, a year-on-year increase of 28.9%, with growth across both the online casino and sports betting markets.

According to the latest Michigan Gaming Control Board (MGCB) figures, the state’s revenue total cleared the $185.8m posted in May last year.

It was also 2.0% ahead of the $234.8m generated in Michigan in April this year.

Gross receipts from online casino activity amounted to $198.6m, up 31.9% year-on-year. As for sports betting, gross receipts here hiked 15.2% to $40.9m, with handle also rising 19.2% to $343.7m.

Adjusted gross receipts up 31.2%

In terms of adjusted gross receipts, taking into account promotional spending, there was also growth. Total adjusted gross receipts for the igaming market were 31.2% higher at $206.8m.

Adjusted online casinos receipts jumped 31.9% to $178.7m, with adjusted sports betting receipts up 27.7% to $28.1m.

The figures cover igaming activity across both commercial and ..

June 19, 2024

Pennsylvania igaming revenue jumps 24% in May

Growth within the igaming market drove gambling revenue in Pennsylvania up 8.7% year-on-year to $521.0m (£409.9m/€485.2m) in May, while the Keystone State also posted increases across sports betting and the land-based sector.

Igaming gross revenue came in at $174.1m in May, up 23.5% year-on-year.

Total revenue in May was comfortably higher than $479.4m in the same month last year. It also surpassed the $504.6m reported in Pennsylvania in April this year by 3.3%.

While the igaming segment saw the most growth, land-based slots remain the main source of gambling revenue in Pennsylvania. For May, revenue from physical slots hit $214.1m, a rise of 1.6%.

Mobile sports betting gross gaming revenue increased 10..5% annually to $59.1m on a handle of $557m, which marked an uptick of 21% on the previous year. Promotional spend across operators was up 6.3%.

In the land-based sector, table games revenue edged up 2.5% to $83.7m.

Deutsche Bank noted gross gaming revenue for both Caesars and ..

April 12, 2024

State of the Union: A look at the week that was in North America

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.

Bally Bet aiming for June Massachusetts launch

Saying “our commitment is strong here”, on Thursday (11 April) representatives from Bally Bet told the Massachusetts Gaming Commission that it is aiming for a late June launch in the Bay State. Bally’s had previously promised a “late Q2” launch, but hadn’t put a date on it. The company has had a temporary sports betting licence in the state since early 2023. When Bally Bet launches it will bring the total number of digital platforms available in Massachusetts to seven after Betr and WynnBet exited the state earlier this year.

“Having someone that we’ve started with the licensing process, a group come in and actually get going, is exciting to us,” interim MGC chair Jordan Maynard said during the meeting.

SCOTUS grants extension in Florida sports betting case

T..

April 12, 2024

Charting Nigeria’s online gambling growth amid regulatory battles

One of the most exciting emerging global online gambling markets is Nigeria, boasting a youthful population that H2 Gambling Capital forecasts to lead it to gross gaming revenue (GGR) of €675.1m (£576.8m/$717.2m) by 2025. With a legal battle over regulation ongoing, though, how exactly is it achieving its success?

Firstly, it’s imperative to note the demographics of Nigeria, which is the most populous country in Africa with well over 200 million inhabitants. According to a report from The Economist, that population is predicted to grow to 400 million by 2050, surpassing the US as the third most-populous country on the planet.

Looking closer at Nigeria’s data reveals a hugely youthful population, with figures from the World Factbook outlining that approximately 41% of people in the country are aged between 14 and under, with the average age of a person in Nigeria just 19 years old.

Taking those demographics aspects into account it’s clear to see why there is excitement over how Niger..

April 12, 2024

Denmark helpline StopSpillet receives nearly 3,000 calls in first five years

StopSpillet, the specialist gambling helpline run by Denmark regulator Spillemyndigheden, has received almost 3,000 calls since its inception in 2019.

StopSpillet was introduced on 1 January 2019, providing advice and guidance to those in Denmark who are concerned over their gambling habits.

A new report revealed that since its launch, StopSpillet has received 2,933 inquiries, with figures suggesting that a large percentage of those callers have a problematic relationship with gambling. Players calling for themselves were responsible for just over 1,650 inquiries, accounting for 56% of the total.

Additionally, 1,150 inquiries, or 40% of the total inquiries, came from relatives of players. In around half of those calls, it was a parent getting in contact with StopSpillet. Meanwhile, 4% of calls came from professionals.

On the ongoing development of StopSpillet, the report read: “The Gambling Authority works continuously to spread awareness of StopSpillet, for example through campaig..

April 11, 2024

New Jersey senator formally introduces bill to hike online tax to 30%

A New Jersey senator, John McKeon, has formally introduced his new bill to increase tax for online gambling and sports betting to 30%.

Currently, online gambling and sports betting are taxed at 15% and 13% of gross gaming revenue respectively.

Senate Bill 3064 was formally introduced on 8 April, after being filed last week. The bill was referred to the Senate State Government, Wagering, Tourism & Historic Preservation Committee.

If enacted the bill would amend Section 17 of P.L.2013, c.27 (C.5:12-95.19), which specifies the online gambling tax amount. Section 7 of P.L.2018, c.33 (C.5:12A-16), which addresses sports wagering tax, would also be changed.

Should lawmakers approve the proposal, it would take effect on next 1 January that occurs after the date of enactment, per the bill text.

New Jersey gambling tax hike: How does it compare?

A 30% rate would put a significant burden on New Jersey’s 18 mobile sportsbooks, raising taxes to among the highest in the US. New York’s 51% spo..

April 10, 2024

Brazil betting regulation to be ready by end of July

Plans to implement fixed-odds betting in Brazil will take place in four stages, ending in July 2024, representing the first step towards a regulatory framework.

Brazil’s ministry of finance published the new ordinance in Brazil’s Official Gazette of the Union. It outlines how the regulations approved in Bill 3,626 will be implemented in the coming months, with an aim to be completely implemented by the end of July 2024.

The four-stage schedule is organised by which regulatory aspects take priority

The order established the Regulatory Policy of the Prizes and Betting Secretariat (SPA), a ministry of finance body which will structure and publish the incoming regulation as per the guidelines.

The body will aim to provide clarity on the legal aspects of the regulation and prioritise the most pressing measures for enactment.

“This measure’s main objective is to systematically structure the regulatory agenda for fixed-odd betting in the country and represents a considerable advance in t..

April 9, 2024

Maryland online casino is dead. What else is left for 2024 US gambling expansion?

The old adage “in like a lion, out like a lamb” is an apt comparison for the prospects of online casino in Maryland.

While interest and discussion weren’t limited to March, as far back as last autumn, operators, vendors, suppliers, consultants, lawmakers and many others in the US gambling landscape were shouting about the prospect of Maryland legalising online casino.

On Monday (8 April) those prospects went out without a peep when the general assembly adjourned with no action on gambling.

Failed Maryland gambling expansion second key loss in 2024

The loss, as the gambling industry will see it, is the second key one this session. Ten days earlier, the Georgia general assembly ended its term without legalising digital sports betting. That meant the two states projected to have the best chance at a gambling expansion failed to produce.

In Georgia, lawmakers remain bogged down in how to spend proceeds rather than whether or not to support the legislation. Negotiating went on nearly ..

April 3, 2024

Rhode Island sports betting revenue plummets 42% in February

Rhode Island saw a 42% drop in sports betting revenue for February, the month before igaming went live in the state.

Rhode Island reported $2.9m (£2.3m/€2.7m) in sports betting revenue for February, significantly down on the $5m accumulated in January. February’s revenue also fell 19.4% short of the same month last year, when the Ocean State accumulated $3.6m in revenue.

The state’s February handle also declined by 13.4%, down to $38.8m from $44.8m in January. Additionally, Rhode Island’s handle dropped year-on-year, with February’s total 10% behind the $43.1m accepted in bets in the same month last year.

Online continues to command the most interest with $30.4m in handle, 78.4% of the total. Online operators paid out $30m in winnings.

Of the $8.4m in bets received by retail, Twin River led the way with $6m, while Tiverton Casino took $2.4m in wagers. Despite the large disparity in handle, Tiverton Casino actually accumulated more revenue, generating $288,000 to Twin River’s $206,0..

April 3, 2024

Ukraine considers ban on online gambling for armed forces

Ukraine's president, Volodymyr Zelensky, is to consider restricting online gambling for the armed forces following a petition from a Ukrainian soldier.

The plan for restrictions was announced during the Ukraine president’s evening address to the country’s citizens on 2 April.

The government is now preparing conditions to “tighten control” over the online gambling industry in the country to “help protect the interests of society”.

The announcement follows a petition demanding restrictions on online gambling for Ukrainian soldiers, launched on 29 March.

The petition, published on the website of the president’s office last week, collected a total of 26,041 signatures within hours of it being launched. Any petition with 25,000 signatories automatically requires presidential consideration.

The petition to restrict Ukraine online gambling

The petition, launched by a solider of the 59th brigade, Pavlo Petrychenko, aims to draw attention “to the harm that the gambling business ..

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Tag: Online casino