Online sports betting – Page 15

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 16, 2024

Sweepstakes has its moment at NCLGS: Law change needed to regulate or ban

The panel, entitled ‘This Ain’t Your Granddad’s Sweepstakes’, delved into issues on licensing, regulation and taxation.

More than 15 years have elapsed since the passing of Ed McMahon, the Tonight Show sidekick also famous for sweepstakes commercials that featured him awarding unsuspecting Americans with gigantic seven-figure checks.

Yet McMahon’s name circulated through the halls of Harrah’s Hotel at Caesars New Orleans on Friday before the nation’s preeminent gambling regulators.

Ahead of next week’s senate hearing in the nation’s capital on sports betting, a panel convened on the online sweepstakes casino market. The issue is one that is sweeping the broader industry. The panel, entitled This Ain’t Your Granddad’s Sweepstakes, delved into hot-button issues on licensing, regulation and taxation associated with the multi-billion-dollar market.

The panel opened the daily agenda at the National Council of Legislators From Gaming States (NCLGS) 2024 Winter Meeting. Moderated by Chris..

December 13, 2024

Ex-casino exec Sibella to have Nevada gaming licence revoked

The Nevada Gaming Control Board (NGCB) today (13 December) announced a tentative agreement with former MGM Grand and Resorts World executive Scott Sibella, who in January pleaded guilty to failing to file a suspicious activity report while at the MGM Grand.

Sibella is so far the only person involved in a far-reaching illegal sports betting ring to be sentenced.

Wayne Nix, whom Sibella extended credit to despite having knowledge that he ran an illegal book, Mathew Bowyer, who had up to 700 customers playing at his illegal book, and Ippei Mizuhara, the Japanese language interpreter who stole $17 million (£13.4 million/€16.1 million) from baseball superstar Shohei Ohtani to gamble, all await sentencing. The cases are playing out in US District Court in Southern California. All three defendants pleaded guilty and face varying amounts of prison time and fines.

Nix’s sentencing is set for 26 March 2025, Bowyer’s sentencing is set for 7 February 2025 and Mizuhara’s sentencing is schedule..

December 13, 2024

State of the Union: Congressional hearing on tap, FanDuel making noise in MI, 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.

FanDuel rallies customers against proposed MI tax hike

FanDuel this week sent a letter to Michigan customers encouraging them to oppose two bills that would raise tax rates on digital sports betting and icasino, according to Casino Reports. One bill would increase the tax rate on digital wagering by 0.1%. Another would raise the rate on online casino by 1%. The idea is to generate more tax dollars for state and local governments.

FanDuel’s emails point customers to a form on the Sports Betting Alliance’s (SBA) website. The SBA also has tabs to click through to encourage consumers in Georgia and Texas to tell lawmakers they want legal digital gambling.

The SBA is a trade group comprised of BetMGM, DraftKings, Fanatics Sporstsbook and FanDuel.

Congress to discuss legal sports betting

The US Senate Commit..

December 13, 2024

Brazil regulator approves 71 betting licences

Brazil’s gambling regulator, the Secretariat of Prizes and Bets (SPA), has issued 71 federal online betting licences ahead of the launch of the country’s regulated market next month.

In a meeting on Tuesday 10 December, Regis Dudena, the leader of the Brazil SPA, confirmed 71 licences are approved. The SPA is still evaluating the remainder of the 114 applications filed by the initial 20 August deadline.

Dudena did not disclose the identity of any of the successful applicants. However, he did say that all operators in this group have been contacted for final evaluation ahead of the market’s launch. Brazil is due to open its regulated market on 1 January 2025, with compliance prior to this required before an operator can launch.

“The final requirements here, in addition to some technical requirements such as certification of their betting system, are mostly related to financial matter, such as full capital, creation of a reserve account and payment of a concession fee,” Dudena said.

December 12, 2024

Turns out, the promos ESPN’s personalities are pushing for ESPN Bet aren’t big winners

A 20-day journey following every promo wager and boosted parlay on the app.

Watch any game on ESPN or on its sister network ABC and you will see the ESPN Bet advertisements and promotions during just about every commercial break.

They have become ubiquitous parts of the network’s sports programming.

These are the advertisements hawking ESPN’s betting app, featuring Stephen A Smith, Mike Greenberg and other assorted talking heads from the network’s lineup.

A strong push like this from the Disney marketing department is not surprising. The media giant regularly uses all its tentacles to promote its various properties. The synergy its sports personalities offer is a major reason why ESPN hooked up with Penn Entertainment following the gaming company’s divorce from Barstool.

Those recognisable figures are now prominently featured on ESPN Bet’s promo page endorsing certain wagers. Most often these include pre-packaged parlays and odds boosts connected to upcoming games airing on the ne..

December 12, 2024

Tennessee sets another sports betting handle record in November

Sports betting handle in Tennessee reached a record high for the second consecutive month in November, while tax from wagering in the Volunteer State also reached a new all-time high.

Gross wagers during November amounted to $598.6 million (£469 million/€569.4 million). This is 16.1% more than in Tennessee last year and 8.6% higher than October’s existing record of $551.2 million.

Data from the Tennessee Sports Wagering Council show $4.2 million worth of adjustments, the details of which were not disclosed. After taking these into account, gross handle for the month was $594.4 million.

On top of this, the Council also reported $11 million in tax from sports betting activities in November. This is another new record for Tennessee, surpassing the previous all-time high of $10.1 million in October.

The Council does not publish figures for sports betting revenue, nor does it break down monthly performance by operator or sport.

At present, 12 mobile betting platforms are live in the st..

December 11, 2024

FanDuel adds legislative and regulatory specialists to government relations team

FanDuel today (11 December) added two new executives to its government relations team while BetMGM announced a new chief marketing officer on 9 December.

FanDuel continued to expand its government relations team today (11 December) with the additions of James Hartmann and Louis Trombetta. The pair bring diverse backgrounds to the ever-burgeoning department, which now not only monitors and works with state legislatures, but also in Indian Country.

Hartmann brings a legal background. He was a prosecutor in Chicago and New York City before shifting into politics. In Illinois, he was the lead house gaming attorney. Hartmann was heavily involved in crafting the legislation that led to the legalisation of sports betting in Illinois in 2019.

Trombetta was the first executive director of the Florida Gaming Commission. He oversaw the build-out of the commission and the regulatory process and set state legislative priorities.

Since tribes in California in 2022 killed a commercial sports be..

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 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 9, 2024

North Carolina has second-best wagering handle month since launch

North Carolina bettors wagered a near record $657.7 million (£515.8 million/€623.3 million) in November, the second-highest handle since betting went live in March.

The largest total bet in a month in North Carolina was $693.3 million in March, when wagering went live. That amount includes real-money and promotional bets. In November, bettors laid down $638.7 million and operators wrote off $19 million in promotional play. In March, bettors wagered $456.7 million in real-money bets and also used $202.6 million in promotional play.

Operators in the Tar Heel state took in record revenue of $78.1 million for November, according to today’s (9 December) report from the North Carolina State Lottery Commission. The next highest gross gaming revenue (GGR) month was September, when operators reported $70.1 million.

Through nine months, bettors have wagered $4.4 billion with an additional $434.3 million in promotional play. The level of promotional play was at its peak in March, but has be..

December 9, 2024

US senators want FTC to investigate DraftKings, FanDuel

Senators Mike Lee and Peter Welch accuse the two operators of conspiring to control the US sports betting market.

Two US senators have formally requested that the Federal Trade Commission (FTC) and the Department of Justice (DOJ) investigate online sports betting platforms DraftKings and FanDuel.

In a letter dated 5 December, Republican senator Mike Lee and Democratic senator Peter Welch raised concerns about the companies allegedly coordinating efforts to suppress competition in the industry.

The senators cite public reports. These suggest DraftKings and FanDuel may have joined together to pressure other businesses not to work with rival betting platforms. Both companies are members of the Sports Betting Alliance (SBA). The senators claim the SBA has been used as a vehicle for these actions.

“After their merger to monopoly was blocked, it seems that FanDuel and DraftKings have arguably acted as one company, violating our antitrust laws,” wrote the senators.

We can’t allow online..

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Tag: Online sports betting