Online casino – Page 2 – FairOdds Network

March 24, 2025

iGaming Ontario reveals year-on-year growth in February

Online gambling spend and revenue in Ontario both increased year-on-year during February, according to new monthly statistics published by the Canadian province’s market regulator.

Previously, iGaming Ontario released online gambling data on a quarterly basis. However, as confirmed by the regulator in January, it has switched to monthly reports, with the February set published on 19 March.

In February, consumers spent a total of CA$7.13 billion (£3.84 billion/€4.56 billion/US$4.96 billion) on gambling. This is 26.9% higher than last year, with figures now available for each month of regulated igaming in Ontario. The province opened its legal market in April 2022.

Month-on-month, however, the February total was 9.1% behind January.

Online casino leads the way in Ontario

As for how players were gambling, $6.07 billion of all wagers were on casino-type games in February. This beat the previous year by 30.5% and represented 85% of all February bets.

On top of this, online sports bett..

March 21, 2025

State of the Union: MD governor wants betting tax increase, new AR bill, 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.

Mixed bag in Maryland

Maryland’s governor, Wes Moore, unveiled his latest budget proposal on Thursday (20 March) night and it’s not terribly favourable for the gambling industry. The proposal does not include any funding from online casino and does include a sports betting tax hike.

Moore previously floated the idea of doubling the tax rate on wagering from 15% to 30%. In his new proposal, he pitches a 20% tax rate, which is projected to bring in an additional $32 million (£24.6 million/€29.6 million) in tax revenue in FY 2026. The state is facing a $3 billion deficit.

If lawmakers follow through, Maryland would become the third state in two years to raise its betting tax. Ohio was the first when Governor Mike DeWine pushed through a bump from 10% to 20% in July 2023, six months after wagering went live. He..

March 20, 2025

Michigan sports betting revenue up in February despite lower handle

Gross online sports betting receipts in Michigan increased 50.8% year-on-year in February despite a reduction in player spending, while the state also reported growth within its igaming market.

Combined gross online casino and sports betting receipts in February totalled $268.5 million (£206.4 million/€246.0 million). This is 22.9% more than last year but 18.9% behind January in Michigan.

Figures published on 18 March by the Michigan Gaming Control Board also include adjusted totals for February. Total adjusted gross receipts – after promotional spending – across sports betting and igaming was $236.3 million, up 29.8% year-on-year but 17.9% less than January.

Mixed news for sports betting

Breaking down the data, sports betting gross receipts totalled $46 million, up from $30.5 million last year. Adjusted gross sports betting receipts were 110.9% more than the previous year at $27.2 million.

As for how much players spent, handle for the month was $379.8 million, some 31.6% less tha..

March 20, 2025

Penn in peril? theScore founder says “execution”, “unified approach” lacking for ESPN Bet

With the future of ESPN Bet seemingly in question, criticism of Penn Entertainment is coming from many corners.

Ever since Penn Entertainment CEO Jay Snowden in late February addressed the idea that his company or ESPN could exit their 10-year deal for ESPN Bet in 2026, the wagering world has been raining negatives. Some analysts have downgraded Penn stock and, on 18 March, the founder of theScore and theScoreBet had his say.

Prior to that, two investors had accused Penn of mismanaging its interactive strategy. In May 2024, the Donerail Group said “guidance misses” by Penn executives had “damaged the credibility of the management team and board of directors”. And in January, HG Vora accused the company of “reckless spending” on digital projects.

John Levy was the founder of theScore and theScoreBet, which Snowden called a “very good story for us in Canada” as a result of Penn acquiring them in 2021. Levy, however, this month shared his not-so-warm-and-fuzzy thoughts about his compan..

March 20, 2025

Betting and igaming drive OPAP to record revenue in 2024

Greek gambling group OPAP reported a record €2.3 billion (£1.93 billion/$2.5 billion) in gross gaming revenue (GGR) during its 2024 financial year, helped by growth within both its betting and igaming segments.

Revenue for the year ending 31 December 2024 surpassed the previous year, and existing record, by 10%. Data published by OPAP yesterday (19 March) also revealed a 9.4% uplift in net gaming revenue to €1.57 billion.

OPAP reported growth in four of its five core segments, including double-digit increases in betting and igaming revenue. Lottery, still the group’s primary source of revenue, and video lottery terminals (VLTs) also saw growth, but instant and passives revenue declined.

The online segment stole the show, posting a 29.2% increase in revenue for 2024. The division is now on track to surpass VLTs as OPAP’s third-largest revenue stream. However, there was also a lot to be said for sports betting, with revenue here up 15.6% year-on-year.

OPAP CEO Jan Karas highlighted t..

March 19, 2025

Sports betting decline hits Pennsylvania gambling revenue in February

Gambling revenue in Pennsylvania declined 4.4% year-on-year in February, with the state’s sports betting market slipping to its lowest monthly revenue total in three years.

Total commercial gaming revenue in Pennsylvania hit $477.3 million (£367.9 million/€437.6 million). This was short of $499.1 million in February last year and also 9.8% behind January 2025.

Sports betting operators struggle

Breaking down data published yesterday (18 March) by the Pennsylvania Gaming Control Board, the standout figure is another drop in sports betting revenue. The sector has now seen revenue decline for three consecutive months, although February’s drop is perhaps the most striking.

Gross sports betting revenue was just $7.4 million, down 75.3% and the lowest since February 2022 when a $442,847 loss was recorded. Online wagering actually generated $10.4 million in revenue, but a $2.9 million loss from the retail market led to the overall figure being lower.

The decline came despite a 14.4% incre..

March 18, 2025

New Jersey: igaming draws most gambling revenue again in February

Igaming was once again the main source of gambling revenue in New Jersey during February, while overall market revenue in the Garden State increased 5.1% year-on-year.

Total monthly revenue reached $484.8 million (£373.5 million/€444 million). This beats February 2024 but was 12.5% behind January this year, the New Jersey Division of Gaming Enforcement (NJDGE) reports.

Growth was apparent across two of the state’s three core markets, with both igaming and sports betting seeing increases. This was only partially offset by a drop in land-based casino revenue.

Igaming revenue rises 14% in New Jersey

Starting with the primary source of revenue, igaming, revenue increased 14% year-on-year to $207.8 million. This was only the third time that igaming drew the most gambling revenue in a single month in New Jersey.

Breaking this down, $205.4 million came from “other authorised games”, including slots, up 14% from last year. The other $2.4 million was attributed to peer-to-peer poker, a ris..

March 14, 2025

State of the Union: Drama in Texas, Alberta opening, Missouri applications soon available, 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.

Texas GOP group: Wagering “dead on arrival”

It appears the November election didn’t turn out well for the future of gambling expansion in Texas. A group of anti-gambling Republican lawmakers newly elected in the state replaced some who previously supported the idea, according to the Texas Tribune. In addition, three GOP senators who supported a gambling expansion in 2023 say they now oppose the idea. The Texas legislature meets only in odd-numbered years.

In addition, opposition to a casino complex in the Dallas suburb of Irving has been mounting. According to KERA News, “thousands” have signed a petition against converting a 1,000+ acre parcel that was the site of the old Texas Stadium into a mixed-use entertainment development. The project by Las Vegas Sands could ultimately crumble without a casino.

Hous..

March 13, 2025

Majority of popular illegal sites use licensed platforms in Sweden, reports ATG

New Q4 research from Aktiebolaget Trav och Galopp (ATG) has suggested 17 out of 20 popular illegal gambling sites use the same platform providers as licensed operators.

Published yesterday (12 March), an ATG-led report covering illegal gambling activity during Q4 in Sweden reported online channelisation was between 69% and 82% during the period.

This is some way below the government’s long-term target of 90%, set in 2019, when the country opened its regulated online gambling market.

Q4 figures are only marginally better than the 70% and 82% range reported by ATG for Q3.

Unlicensed website traffic up tenfold since 2019

Setting out its findings for Q4, ATG said its data suggests traffic to unlicensed sites in Sweden has increased tenfold since regulation in 2019.

As was the case in Q3, channelisation for online casino was much lower than the rate for sports betting. ATG placed casino channelisation at between 59% and 74%, while sports betting was in a range of 79% to 88%.

The ope..

March 10, 2025

Weekend Report: Sports betting subscription services potential, Choctaws make crypto casino move, Gaming Corps pens Oddsworks deal

Welcome to the Weekend Report, where iGB looks at the news that you may have missed across Friday, Saturday and Sunday. This week: sports betting subscription services potential, Choctaws eye cryptocurrency in Oklahoma casinos and Gaming Corps targets North America growth with Oddsworks deal.

YouGov: Potential for igaming subscription services

Up first this week, a new survey has highlighted the potential for sports betting subscription services.

Published by YouGov, the report found that a significant number of bettors would consider paying for a subscription. Of those surveyed, 22% said they would be “very likely” to join some form of subscription service.

A further 43% said that would be “somewhat likely” to subscribe, with 44% of those within this category aged 18-34. In comparison, only 18% of bettors were “not at all likely” to sign up, with 10% “not very likely”.

As for why consumers may be interested, 46% said this was due to the opportunity to access exclusive promotions ..

March 7, 2025

State of the Union: New York, New York; bills tweaking betting in NJ and NC, 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.

NY’s Addabbo files anti-sweeps, expansion bills

New York state senator Joe Addabbo filed two gambling-related bills in the last week. The latest, S5935, seeks to ban unregulated sweepstakes platforms. Operators of these platforms have been targeted by several state legislatures and the gambling industry, which say the platforms are pulling business from the regulated industry. Sweepstakes platforms operate in a grey area — they are unregulated and do not pay taxes.

Addabbo’s bill clearly defines what sweepstakes are, calling them games that “simulate casino-style gaming”. The list of casino-style games includes everything from blackjack to keno to sports betting. The bill would also make it illegal for licensed suppliers and vendors to work with unregulated platforms. The bill was filed on 4 March and refer..

March 5, 2025

Flutter touts growth, particularly in US despite tough NFL season

Flutter executives shared that fourth-quarter revenue increased 14% and fiscal year revenue was up 19%, mostly on the back of US sports betting and icasino.

Executives also reported that for FanDuel in the US, the number of average monthly players grew 7% in the quarter and 13% for the fiscal year. Overall, the tone was enthusiastic as Flutter reported growth across the world during its fourth-quarter earnings call on Tuesday (4 March).

The company reported $156 million (£122 million/€147 million) in fourth-quarter profit and $162 million of it for the year. Both of those numbers were up more than 100% against 2023 and annual revenue increased by 19%. Flutter is in the midst of a share repurchase programme and has plans to buy back $1 billion in stock in 2025.

All the reported numbers matched up to previous guidance. The company pointed to success with its new customisable “Your Way” parlay, which is in beta testing, in addition to touting its ongoing stock buyback as a positive. ..

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Tag: Online casino