Online sports betting – FairOdds Network

April 22, 2025

Pennsylvania gambling revenue reaches record $574.5 million in March

Gambling revenue in Pennsylvania totalled $574.5 million (£429.7 million/€499.7 million) in March, a new monthly record for the state despite declines across sports betting and land-based casinos.

Revenue in March was 3.6% more than in the same month last year and 20.4% above the total for February. The Pennsylvania Gaming Control Board (PGCB) published the latest monthly statistics yesterday (21 April).

Pennsylvania sets new igaming revenue record

Igaming was once again the star of the show in Pennsylvania, generating a record $238.2 million in revenue. This surpassed March of 2024 by 24.7%.

Online slots accounted for $179.5 million of this total, a year-on-year rise of 32.5%. Internet table games revenue also climbed 5.8% to $56.2 million, while online poker revenue was up 3.3% to $2.6 million.

Hollywood Casino at Penn National Race Course and its online gaming partners collected the most revenue. In total, their revenue from online gambling across slots, tables and poker in Mar..

April 22, 2025

Michigan igaming revenue hits record $260.5 million in March

Online gambling revenue in Michigan increased 6.7% during a mixed March, with igaming revenue in the state reaching an all-time high but the sports betting market reporting decline.

Total revenue from online gambling hit $293.5 million (£219.4 million/€255.1 million). This was ahead of March last year and 9.3% more than $268.5 million in Michigan in February 2025.

Data published by the Michigan Gaming Control Board also showed adjusted gross receipts, after promotional spending, topped $260.7 million. The total beat March 2024 by 17.9% and was 10.3% higher than February.

Another igaming record in Michigan

Igaming revenue in March reached $260.5 million. This beat the previous monthly record, set in January, by 5% and surpassed last year by 20.9%.

Adjusted gross receipts from igaming amounted to $246.1 million, another new record and 26.5% higher year-on-year.

BetMGM and MGM Grand Detroit retook the lead with $69 million in total igaming gross receipts. The partnership also herald..

April 22, 2025

Waterhouse VC: The difference between average punters and sports betting experts

Tom Waterhouse of Waterhouse VC examines how data and all-encompassing models can lead to consistent profits for professional sports bettors.

What separates extraordinary sports betting experts from the average punter? In our exclusive webinar, we gained unprecedented access to the strategic thinking of Tom Dry, one of the world’s elite tennis bettors. Professional betting – a sector that can generate consistent returns regardless of economic conditions – represents a compelling but often overlooked investment category. Tom’s approach combines analytical rigour with deep domain expertise, offering valuable lessons not just for bettors, but for investors seeking uncorrelated returns in today’s volatile markets.

During our in-depth conversation with Dry, we explored the disciplined, analytical and occasionally counterintuitive realm of professional betting. Although he kept his “secret sauce” under wraps, he spoke openly about the mindset, processes and curiosity that have guided his s..

April 18, 2025

State of the Union: NY bill proposes dramatic sports betting limits; ECGC review, 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 assemblyman introduces bill on sports betting limits

A New York assemblyman introduced proposed legislation this week with sweeping restrictions that seek to curtail excessive wagering behaviour.

The bill from Assemblyman Robert Carroll would establish a wagering ceiling of $5,000 (£3,760/€4,389) per day on New York sports betting accounts. It would also limit the number of account deposits a customer can make over a 24-hour period. In addition, the legislation would create restrictions on sportsbook advertising, a point of contention among problem gambling advocates over the last several years.

New York lawmakers have introduced a bill that would restrict deposits and advertising in the nation's highest-grossing legal sports betting market; bill would prohibit bettors from wagering more than $5,000..

April 17, 2025

New Jersey igaming revenue reaches record $243.9 million in March

Igaming revenue in New Jersey hit a record $243.9 million (£184.2 million/€214.5 million) in March, although the Garden State reported declines across both sports betting and land-based casinos.

Total gambling revenue topped $546.1 million, data released on 16 April from the New Jersey Division of Gaming Enforcement (NJDGE) shows. This beats March last year by 3.7% and is also 12.6% clear of February this year.

As was the case in the first two months of the year, igaming drew the most revenue during March. Land-based casinos have traditionally been the primary source of gambling revenue in New Jersey, but continuous growth in the igaming sector has seen it fall behind in recent months.

Igaming revenue up 23.7% in March

Revenue from igaming during the month was 23.7% higher year-on-year. It is just the fourth time igaming has drawn the most gambling revenue in a single month in New Jersey.

Breaking down the market, $241.3 million of all this revenue came from “other authorised game..

April 16, 2025

MGM CEO: Prediction markets may be ‘cement’ for federal government to enter gambling space

Bill Hornbuckle is urging the legal sports betting industry to handle the prediction market battle properly to avoid federal intervention.

As Bill Hornbuckle travelled to Atlantic City this week for a prominent gaming conference, the legal sports betting industry nationwide continued to race toward a proverbial fork in the road.

Days earlier, Kalshi had reported handle of $86 million (£65 million/€75.6 million) during The Masters tournament, roughly three times the volume traded on the platform for the Super Bowl. Over the last month, Kalshi and other prediction markets have been subject to a wave of cease-and-desist orders from states around the country. The litigation comes as the US Commodity Futures Trading Commission (CFTC) prepares this month for a highly awaited roundtable on the regulatory implications of sports event contracts.

Operating tax free on trading revenues, prediction markets pose an existential threat to the regulated gaming industry in the view of some industry ..

April 16, 2025

Tax rate, fees, regulator at issue as Hawaii sports betting bill goes to conference

A conference committee has about two weeks to come to an agreement.

Hawaii’s digital sports betting bill has hit a snag. HB 1308, which has made a surprising march through the house and senate, is headed to conference committee after the house rejected an amended version passed by the senate on Friday.

After moving through senate committees with no tax rate or application fee, both were added on the senate floor. In addition, the regulator was changed in a senate committee and the department of law is now named.

HB 1308 would allow for statewide digital sports betting with a minimum of four platforms. There would be no retail locations.

The bill initially had a 10% tax rate and a $250,000 application fee, but those were stripped in the house finance committee, where Representative Sue L Keohokapu-Lee Loy voiced concern that the application fee was too low.

It “appears rather low for an industry that makes billions of dollars”, she said. “I would love to see that licence fee go up ..

April 14, 2025

Weekend Report: First US approval for Beter, STS new sportsbook chief, woman wins $15 million judgment against casino

Welcome to the Weekend Report, where iGB looks at the news that you may have missed across the last few days. This week: Beter gains first US approval, STS names new sportsbook chief and a woman wins a $15 million judgment against a Las Vegas Strip casino.

Beter lands first US approval in New Jersey

Sports betting odds, data and content provider Beter has secured its first approval in the US.

Vendor registration from the New Jersey Department of Gaming Enforcement enables Beter to work with licensed operators in the state. This includes delivering its real-time data and live streams.

The first approved product is its flagship Setka Cup table tennis tournaments. This is already live in New Jersey from Bet365.

Beter arranges over 11,000 Setka Cup matches per month, offering more than 30 betting markets per event. In total, it organises over 46,000 fast-betting events monthly across esports and sports disciplines.

“This is a milestone moment for the Beter team,” CEO Gal Ehrlich said..

April 14, 2025

Michigan regulator probes unlicensed sports predictions market

The Michigan Gaming Control Board (MGCB) has launched an investigation into unlicensed sports prediction markets operating within the Great Lakes State.

Announced on Friday (11 April), the MGCB said this activity has raised “significant” concerns about consumer protections in Michigan. The regulator classes predictions as a form of sports betting.

Preliminary investigations by the MGCB have found unlicensed platforms offer financial products that allow users to trade their predictions on the outcomes of sports events. By sidestepping state-mandated regulatory protections, the regulator said, this poses a serious risk to players.

The MGCB added that this may create confusion among consumers. Its concerns primarily relate to “blurring the line” between sports betting as entertainment and as a financial trading vehicle.

The regulator’s announcement did not specify the companies under scrutiny, but counterparts in five other states – Nevada, New Jersey, Ohio, Illinois and Maryland – ha..

April 11, 2025

State of the Union: Kalshi wins injunction in Nevada; stocks receive Trump bump, 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.

Kalshi scores win with Nevada injunction

For a prediction market that has been besieged by state cease-and-desist orders over the last month, Kalshi notched a slight victory this week.

On Tuesday (8 April), US district court judge Andrew Gordon granted Kalshi a preliminary injunction against the Nevada Gaming Control Board (NGCB). The injunction prevents the NGCB from imposing the order against Kalshi, contending that the site illegally offered sports wagering across the state.

As with other prediction markets, Kalshi is awaiting a closely watched roundtable from the US Commodity Futures Trading Commission (CFTC) for clarity on whether sports event contracts mimic sports gambling.

First takes on the order granting Kalshi's motion for a preliminary injunction in Nevada: quality advocacy wins the day..

April 11, 2025

New York online sports betting handle tops $23.94 billion in 2024-25

Consumers in New York spent a total of $23.94 billion (£18.32 billion/€21.07 billion) betting on sports during the 2024-25 fiscal year, a new record for the Empire State.

The total from April 2024 to March 2025, published by the New York State Gaming Commission, surpasses the $19.64 billion wagered in 2023-24 by 21.9%. It is also the highest annual sports betting handle ever posted by a US state.

In terms of gross gaming revenue, this amounted to $2.14 billion for the fiscal year. This is another record for New York and beat the previous year by 21.6%.

This resulted in an annual hold of 8.94%, slightly lower than 8.98% in 2023-24.

FanDuel betting handle nears $10 billion

Breaking down the market, Flutter Entertainment-owned FanDuel continues to lead the way by some margin. FanDuel processed a record $9.2 billion in bets and reported revenue of $969.8 million, leaving a 10.54% hold.

As has been the case for some time, DraftKings remains the closest challenger. Handle hit $8.6 bill..

April 10, 2025

Kalshi stays live with sports markets in Nevada after winning injunction

It is game on for Kalshi's ability in Nevada and across the US to take bets on contests such as The Masters.

US District Court Judge Anthony Gordon provided a detailed ruling that expanded on his decision of Tuesday night (8 April) to grant Kalshi’s motion for a preliminary injunction against the Nevada Gaming Control Board regarding the offering and trading of sporting-event contracts.

“Kalshi has shown a likelihood of success on the merits,” wrote Judge Gordon in the 17-page ruling. “Conversely, the defendants have not shown a likelihood of success on their countermotion for injunctive relief, so I deny their motion.”

It was another legal victory for Kalshi, following a key win in the US Court of Appeals last October over the Commodity Futures Trading Commission (CFTC). That ruling allowed it to offer election contracts in the run-up to the 2024 US presidential election. The CFTC has appealed that decision to the DC Circuit Court of Appeals and a verdict could have an impact ..

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Tag: Online sports betting