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January 24, 2025

State of the Union: Mizuhara sentencing postponed, Kalshi taking sports bets

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.

Mizuhara sentencing pushed to 6 February

Sentencing for former Shohei Ohtani interpreter Ippei Mizuhara was moved from today (24 January) to 6 February, a California US Attorney’s Office announced yesterday (23 January). Mizuhara in June pleaded guilty to stealing $17 million (£13.6 million/€16.1 million) from Ohtani for illegal sports betting. He faces up to 33 years in prison on counts of bank fraud and subscribing to a fraudulent tax return. Mizuhara will be sentenced by Judge John Holcomb in the US District Court for the Central District of California.

In a 29-pg memo, attorney Michael Freedman wrote that courts routinely “vary downward,” for gambling, adding that Ippei's addiction warrants a variance. He asked the Court to impose an 18-month sentence. A forensic psychologist also supports a downwa..

January 23, 2025

Ontario online gambling spend reaches record high in Q3

Ontario players spent CA$22.7 billion (£12.8 billion/€15.2 billion/US$12.8 billion) gambling online during Q3, the highest quarterly amount on record, while the Canadian province has switched to a new, monthly reporting schedule.

Previously, iGaming Ontario, which regulates online gambling in the province, published data on a quarterly basis. However, upon releasing figures for Q3, it confirmed results will now be available every month.

Data is now available for each month since Ontario launched legal online gambling in April of 2022.

Online casino spend reaches new high

Focusing first on Q3, total market spend was 32% higher than in the same quarter of 2023-24. It is also 22% ahead of Q2 of the current financial year. Ontario’s Q3 ran for the three months to 31 December 2024.

Online casino remains by far the main area of interest for players in the province. During Q3, some $18.9 billion was spent in this segment, up 38% on the previous year and another new record for Ontario.

S..

January 23, 2025

From Indiana to New York, US legislative season already packed with bills

State legislators again are taking on the challenge of expanding the internet casino market for 2025.

With the turning of the calendar year comes optimism in most any endeavour. Stage legislatures are no different when it comes to internet casino gaming and sports wagering. A flurry of gambling legislation nationwide has been filed in attempts to expand a still-growing market.

Casino Reports has been gamely trying to keep up with these state-by-state machinations. Here is a rundown of what is going on, perhaps in your backyard:

Indiana: Optimism abounds once more

The Hoosier State was among the first to launch sports wagering post-PASPA and has consistently punched above its weight. Indiana closed out 2024 by becoming the eighth state to surpass $20 billion (£1.6 billion/€1.9 billion) all-time handle. It has surpassed $1.75 billion in sports betting revenue.

Legalising internet casino gaming has been a tougher slog. There was a moratorium on such bills last year after former Repre..

January 23, 2025

Michigan online gambling reaches record $2.9 billion in 2024

Revenue from online gambling in Michigan reached an all-time high of $2.9 billion (£2.4 billion/€2.8 billion) during the 2024 calendar year, with the state reporting record figures across both igaming and sports betting.

Gross internet gaming and sports betting receipts for 2024 surpassed the previous record, set in 2023, by 23.8%. This is also more than double the $1.90 billion in the first year of legal online gambling in Michigan in 2021.

Adjusted revenue, which accounts for promotional spending, amounted to $2.4 billion, up 22.3% year-on-year. Figures from the Michigan Gaming Control Board (MGCB), published on Tuesday (21 January), cover commercial and tribal operators.

Igaming revenue tops $2.4 billion

Starting with igaming, revenue in this segment of the market topped $2.4 billion in 2024. This beats the previous year by 26.3% and is a new record for the state. Adjusted gross receipts for igaming also reached an all-time high of $2.2 billion, an increase of 27.2%.

BetMGM and..

January 21, 2025

Denmark gambling revenue rises 7.8% in November

Overall gambling revenue in Denmark increased 7.8% year-on-year in November, driven by double-digit growth within the country’s online casino market.

Revenue for November reached DKK654 million (£74.1 million/€87.6 million/$90.7 million), Denmark regulator Spillemyndigheden reports. This is ahead of DKK608 million in the same month of previous year and 6.0% higher than October 2024.

As has been the case for some time, online casino generated the most revenue during the month. In total, revenue from this segment hit DKK295 million, up 17.9% year-on-year and 3.9% above October’s total.

Slots accounted for 77.4% of all online casino revenue in November. Blackjack drew 6.7%, roulette 6.6%, poker 3.5%, bingo 3.1% and other games 2.7%.

Minimal growth elsewhere in Denmark

While online casino continues to expand at a rapid rate, other segments also grew but at a much slower place.

Sports betting was the next highest segment in terms of revenue, generating DKK232 million for the month. T..

January 20, 2025

Pennsylvania sets another igaming revenue record in December

Pennsylvania operators reported record igaming revenue for the second consecutive month. But in December, sports betting revenue declined due to customer-friendly results that impacted the wider sector.

Total revenue from gambling in Pennsylvania in December totalled $533.1 million (£463.5 million/€517.3 million). This is 0.2% lower than the previous year and also 5.2% less than November’s $562.4 million record hold.

Pennsylvania Gaming Control Board (PGCB) figures highlight igaming as the state’s stand-out segment in December. Monthly revenue here hit $223.6 million, some 35.5% ahead of December 2023 and 11.5% above November’s existing record.

Of this total, $164.3 million came from online slots, up 40.5% year-on-year. Internet table-games revenue also increased by 24.2%, while online poker revenue edged up 2.9% to $2.5 million.

Players spent $4.28 billion playing online slots during December, as well as $3.01 billion on internet table games. Online poker spend was not disclosed.
..

January 20, 2025

EveryMatrix net revenue tops €180 million in record 2024

EveryMatrix reported record annual net revenue of €180 million (£152 million/$186 million) in its 2024 financial year, with growth across all core product verticals.

Group net revenue was 59% higher than the €114 million recorded in the previous year, although this excludes the impact of recent M&A activity. When including this, overall revenue for 2024 hit €352 million, an increase of 46% and another record for the group.

The business was boosted in 2024 by two acquisitions. First came FSB Technology in July and Fantasma Games followed a few months later in October.

Growth in revenue also led to a rise in EBITDA. For the full year, EBITDA amounted to €101 million, a 70% increase on the previous year and another record. On top of this, EBITDA margin in terms of net revenue hit 56%.

EveryMatrix highlights OddsMatrix success

In its annual report, published today (20 January), EveryMatrix described 2024 as the best 12 months in its history. CEO Ebbe Groes (pictured) said while all se..

January 20, 2025

Weekend Report: Sportsbet sued in Australia, FanDuel live in Puerto Rico

Welcome to the Weekend Report, where iGB looks at the news that you may have missed across Friday, Saturday and Sunday. This week: Sportsbet faces legal action in Australia, FanDuel launches in Puerto Rico and BetMGM secures gameshow rights.

Australian players launch class-action against Sportsbet

Up first, a group of Sportsbet customers in Australia have launched a class-action lawsuit against the operator, seeking to recover millions of dollars in losses.

Players are demanding Sportsbet repay the money they say was lost through “illegal” live betting, the Australian Associated Press reports. Digital in-play betting on sports is prohibited in Australia.

The suit said Sportsbet should refund gamblers who have lost money using Sportsbet’s ‘Fast Code’ service in the past six years. Fast Code allows players to bet on live sports by making a selection online and calling Sportsbet to place the wager.

Principal lawyer Elizabeth O’Shea is working with the group on the case. She said: “Be..

January 17, 2025

New Jersey gambling revenue tops $6.3 billion in record 2024

Gambling revenue in New Jersey reached $6.30 billion (£5.17 billion/€6.12 billion) in what was a record year for the state, with all-time high figures also reported across igaming and sports betting.

Total market revenue was 9.0% ahead of the existing record of $5.78 billion in the previous year. The New Jersey Division of Gaming Enforcement (NJDGE) reported growth across two of the state’s three sectors, with only land-based casinos seeing a decline.

Igaming pushes land-based casinos close in 2024

The stand-out performance in 2024 is by far igaming, with revenue up 24% to a record $2.39 billion. While this is short of the land-based market ($2.82 billion), igaming has surpassed physical casinos in recent months and 2025 could see it become the leading source of gambling revenue in New Jersey.

For 2024, some $2.36 billion of igaming revenue came from online slots and table games, up 24.5% year-on-year. Peer-to-peer poker revenue, however, slipped 1.5% to $28.5 million.

DraftKings ..

January 16, 2025

Legislative roundup: MD tax hike, NJ sweepstakes, more

Legislative season is never dull for the gaming industry and this latest roundup includes a potential tax hike in Maryland and a sweepstakes bill in New Jersey.

Bills to legalise online casino gaming in Wyoming and Indiana, a proposed gambling tax rate hike in Maryland and a bill to legalise “sweepstakes gaming” in New Jersey were all rolled out this week as what tends to be a four-month flurry of legislative activity across the US begins.

In Maryland, gambling expansion backers have said they intend to reintroduce their own igaming legislation soon. But the more immediate news on Wednesday (15 January) was that Wes Moore, the governor of Maryland, introduced his annual budget. It notably includes his endorsement of a boost in sports betting tax from 15% to 30% and a rise in casino table game rates from 20% to 25%.

Ohio and Illinois already have raised their sports betting tax rates in the past year. The former did so less than a year after the first legal bets were placed.

New Yo..

January 13, 2025

Weekend Report: Entain confident on FY24 earnings, Betfred exits Nevada, Concacaf seeks first betting partner

Welcome to the Weekend Report, where iGB looks at the news that you may have missed across Friday, Saturday and Sunday. This week: Entain confident on FY24 EBITDA guidance, Betfred exits Nevada and Concacaf seeks first betting partner.

Entain reiterates EBITDA guidance for FY24

Entain said it remains confident of EBITDA guidance for FY24 despite taking a hit in the latter part of the year from customer-friendly sports results in the US.

Entain set out full-year targets during its Q3 trading update in October. Here, it said group EBITDA would be at the upper end of a range between £1.04 billion (€1.24 billion/$1.26 billion) and £1.09 billion.

Now, Entain has repeated this guidance despite its BetMGM joint venture in the US being impacted in Q4. Unfavourable sports results meant players won more during the period, which in turn impacted performance.

Entain said BetMGM still expects to post EBITDA of negative $250 million for the full year. This is in line with earlier guidance issue..

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..

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Tag: Online casino