Online sports betting – Page 4

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 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

Nebraska committee sends legal digital sports betting to full senate

A constitutional amendment that could decide the future of digital gaming in Nebraska is headed to the senate floor. The proposed referendum would go on the November 2026 ballot.

The legislative action makes Nebraska the best chance so far this year for any US state to add digital sports betting. Chances for legalisation in the state were under the radar until a senate committee late on Monday (17 March) voted, 6-2, to send the proposed constitutional amendment to the floor.

Nebraska has America’s only unicameral, or single-chamber, legislature. Now that the senate general affairs committee has passed the proposal, it must get a two-thirds majority on each of three votes on the senate floor to pass. LR 20CA is a constitutional amendment with no regulatory framework. It would go on the 2026 ballot, meaning if it passes at the polls, the earliest digital sports betting could launch in Nebraska would be 2027.

The proposal moved forward despite heavy opposition at a hearing on 10 March…

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 18, 2025

Kalshi, Robinhood partner for March Madness following cease-and-desist extension

Kalshi and Robinhood have partnered again to offer sports contracts, this time ahead of the NCAA men's and women's basketball tournaments.

The renewed partnership was announced by both sides on Monday (17 March). Robinhood will launch a standalone prediction market hub in its app, made possible through Kalshi. According to Front Office Sports, Robinhood had just under 25 million users as of last November.

The first markets will be on the NCAA men’s and women’s basketball tournaments, which begin on Tuesday (18 March) and Wednesday (19 March), respectively. There will also be contracts listed for whether the Federal Reserve will change the federal funds rate at its May meeting.

Last month, the exchanges partnered to offer Super Bowl contracts, but Robinhood quickly backed out following pushback from the Commodity Futures Trading Commission (CFTC). Kalshi and Crypto.com, another entrant into the prediction space, kept their Super Bowl contracts active before and during the..

March 17, 2025

Weekend Report: FanDuel launches RG TV series, Bet365 live in Illinois and Tennessee, Scientific Games WLA re-certification

Welcome to the Weekend Report, where iGB looks at the news that you may have missed across Friday, Saturday and Sunday. This week: FanDuel TV launches responsible gambling series, Bet365 launches in Illinois and Tennessee and Scientific Games secures WLA re-certification.

FanDuel to debut ‘The Comeback’ RG series

First in the Weekend Report, the FanDuel TV division of FanDuel Group has announced the launch of a responsible gambling series, ‘The Comeback’.

Responsible gambling ambassador Craig Carton, who has been very public describing his own past addiction issues, will interview people who have experienced addiction themselves. Carton will cover stigma surrounding gambling disorder and highlight the support available to people.

The first episode will feature 11-year NBA veteran and recovered problem gambler Randy Livingston. Both Livingston and his wife have recently joined FanDuel as responsible gambling ambassadors.

The Comeback will be streamed across both FanDuel’s YouTube c..

March 17, 2025

Underdog Fantasy fined $17.5 million, will withdraw from New York for now

The New York State Gaming Commission (NYSGC) has announced sanctions against Underdog, which it says has been operating unlawfully.

Underdog Fantasy has been offering interactive fantasy sports contests in New York since 22 December 2022 on a temporary fantasy licence held by Synkt, now owned by Underdog. The NYSGC on 14 March found Underdog never had a temporary licence in the state and it therefore could not offer “certain types” of contests.

The commission fined Underdog $17.5 million (£13.49 million, €16.05 million). The number is “based on the amount of revenue Underdog’s popular games generated in New York,” per an Underdog email. Underdog stopped offering games in New York on 14 March.

In a settlement, the NYSGC wrote that Underdog “asserts that it [had] operated in New York since 22 December 2022 under a good-faith belief that it had the ability to do so lawfully”. Underdog, according to the settlement, does not “accept or admit” any wrongdoing.

The company will make 12 pa..

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 14, 2025

New York sports betting handle dips to six-month low in February

Monthly player spending on sports betting in New York dropped below $2 billion (£1.53 billion/€1.82 billion) for the first time in six months during February, although the state was able to report year-on-year growth across handle and revenue.

Players in New York wagered a total of $1.98 billion in February. This is 11.2% ahead of last year but 20.2% behind January’s record $2.48 billion sports betting spend.

Monthly handle has not been this low since $1.44 billion was wagered in August last year.

Data from the New York State Gaming Commission also reveals that revenue in February reached $184.8 million. The figure is 40.8% more than February 2024 but 25.2% less than January’s record $247 million haul.

As such, monthly sports betting hold in the state was 9.24%.

FanDuel still the one to beat in New York

Breaking down the market, Flutter Entertainment’s FanDuel remains the leader in New York. During February, it took $738.5 million in wagers and posted revenue of $92.5 million for..

March 14, 2025

BetMGM learned from its marketing and spending mistakes, Hornbuckle confident in US product roadmap

MGM Resorts CEO Bill Hornbuckle is confident its BetMGM JV with Entain will increase its EBITDA by $250 million (£193.3 million/€229.9 million) in 2025, thanks to ongoing product updates including single-game parlay, omnichannel and single wallet.

Hornbuckle told the audience at JP Morgan’s Gaming conference on 13 March that, while BetMGM is not the fastest product in the US market today, it is now twice previous iterations.

“I know we’ve stopped losing share,” the CEO said. “I think we see a lot of green shoots particularly in January, February and March. Everything we’ve seen would suggest the projection we’ve given is real and we can hit that target.

“The flow through is about 70%, I would say historically we did some things that we’ve learned from, marketing wise and expense wise.”

Reflecting on these “mistakes,” Hornbuckle said the operator had spent $13 million on a Super Bowl ad in 2023, which he acknowledged “wasn’t the greatest idea”.

“Nor was it a great commercial, t..

March 14, 2025

Netherlands concerned sports advertisement ban could be bypassed, points to Belgium

Dutch lawmakers have expressed concerns that its incoming online gambling sports advertisement prohibition could be bypassed by operators, pointing to apparent circumvention in Belgium.

Responding to questions from parliament on 12 March, state secretary for legal protection Teun Struycken reaffirmed the need for greater player protection but noted a complete ban on gambling advertisements was not in favour. Struycken also suggested it was possible Belgian cases of circumvention could be repeated in the Netherlands.

Since 1 January, sports clubs in Belgium have not been allowed to display gambling sponsors on their team shirts. However, there is a view this is being bypassed by operators.

For instance, the football Club Brugge was sponsored by Unibet. Now, the jersey is displaying “U-experts”, the name of an application made by Unibet that links to its casino offering. Cercle Brugge’s jersey sponsor also changed from “Golden Palace Casino” to “Golden Palace News”.

A total ban on sp..

February 2026
Mon	Tue	Wed	Thu	Fri	Sat	Sun
						1
2	3	4	5	6	7	8
9	10	11	12	13	14	15
16	17	18	19	20	21	22
23	24	25	26	27	28

Tag: Online sports betting