Online sports betting – Page 5

March 14, 2025

Hawaii digital sports betting bill passes first senate committee

Despite opposition from multiple government agencies and several groups of native Hawaiians, a senate committee in the state advanced a digital sports betting bill.

The Hawaii senate joint committee on economic development and tourism and commerce and consumer protection unanimously moved forward HB 1308 on Thursday (13 March). Of the nine votes, four were “with reservations”.

The bill would allow four digital sports betting platforms and no retail locations. It does not have a tax rate or fees in it. Both were removed by a house committee that wanted to keep the issue alive. The bill has been passed in the house and now by one senate committee.

The senate committee members questioned witnesses about how much money legal sports betting would bring into the state and about the potential for gambling addiction.

It was somewhat surprising that the bill got out of committee, as the number of opponents far outnumbered supporters. Opponents included several government agencies as well a..

March 13, 2025

Sporttrade founder says innovation needed to maximise US betting markets

CEO suggests tax rates tied to operator hold rates as one possible idea to level playing field.

In the ninth paragraph of an open letter to US sports betting regulators and legislators published on Thursday (13 March) morning, Sporttrade founder and CEO Alex Kane boiled his mission statement down to two sentences:

“If the goal is to have as many players as possible choosing to play in your regulated market, there must be significant changes to your regulatory approach. You must consider making a sincere effort to welcome innovative companies into your regulated market.”

Nearly seven years after the Supreme Court ruling that allowed for widespread legalisation of sports betting, the public conversation around the space has turned decidedly negative. There’s a heavy focus on a rise in problem gambling. A handful of legislators are pursuing paths to undo the legalisation in their state. The threat of federal intervention is turning up its volume and growing increasingly ominous.

Kane’..

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 13, 2025

Tennessee sports betting spend falls again in February

Consumer spending on sports betting in Tennessee fell for the third consecutive month in February, although the amount wagered was higher than the previous year.

Gross wagers in Tennessee during February hit $417.4 million (£322.8 million/€384.7 million). This fell 24% short of January’s total but beat the $380.4 million spent on sports betting last year by 8.7%.

Tennessee has now seen gross wagers fall each month, according to the Tennessee Sports Wagering Council, since the $598.6 million bet in November 2024 set a new state record.

After $3.9 million in undisclosed “adjustments”, gross handle for the month stood at $413.5 million. This was 23.9% less than January but 9.3% ahead of February last year.

As for government revenue, overall privilege tax from sports betting amounted to $7.6 million.

The council does not publish figures for revenue, nor does it offer a breakdown of activity by operator or sport.

A total of 11 platforms are currently live in Tennessee. These include m..

March 12, 2025

Mississippi house makes digital sports betting a political football, punts issue back to senate

The Mississippi house amended two senate bills in order to include legal sports betting along with a sweepstakes ban. Those bills are now back in the senate.

When the bills left the senate, neither was about legalising digital sports betting. But both passed the full house on Tuesday (11 March) and bill sponsor Casey Eure says it’s time to negotiate.

One of the bills originally addressed tidelands. The other addressed fines for platforms operating illegally in the state. Language from a dead house digital wagering bill was put into the tidelands bill.

Retail betting has been legal in Mississippi’s casinos since 2018, but attempts since then to add the type of mobile betting available in other states have been rebuffed.

“It’s a possibility” that tidelands will not get addressed this year if the senate fails to take up mobile sports betting, Eure said, according to the Clarion-Ledger. “But the house’s position is on mobile sports betting. We’re concerned about tidelands, but at this..

March 12, 2025

MLB seeks CFTC “integrity framework” for prediction markets

Major League Baseball, perhaps hedging its position regarding the eventuality of trading on its product becoming being a widespread part of prediction markets, asked the Commodity Futures Trading Commission (CFTC) to create an “integrity framework” similar to those in place with states that authorise legalised sports betting.

The Closing Line substack was first to report MLB sent a letter via email to the CFTC noting that the “limited MLB event contracts available today do not carry the same integrity risks as prop bets even single-game bets, but we expect that equivalent offerings will arrive soon.”

To that end, MLB wants that integrity framework for prediction markets in a manner consistent with how it supports “legal sports betting at the state level based on robust regulation and relationships in which sports leagues are viewed as partners and integrity of competition is considered paramount.”

Watching and waiting on Kalshi

MLB’s request of the CFTC comes at a time when Kalshi ..

March 12, 2025

Arizona sports betting revenue dips in December despite handle increase

Sports betting revenue in Arizona fell 28.9% year-on-year in December despite the Grand Canyon State reporting an increase in customer spending to a near-record total.

Monthly handle across both online and retail wagering in Arizona hit $849.3 million (£655.5 million/€778.3 million). This is 20.2% more than December 2023 and the second-highest monthly amount on record, 5.4% less than November 2024.

Figures from the Arizona Department of Gaming show players ventured $844.3 million betting on sports online in the last month of the year. The remaining $5.1 million was wagered at retail sportsbooks.

Turning to revenue, adjusted gross event wagering receipts before free bet deductions were $49.3 million. This fell short of $69.3 million in 2023 and was also 41.4% behind November’s record $84.1 million haul.

Breaking this down, $49.3 million of revenue came from online wagers, with just $45,000 from retail.

Some $23.5 million was deducted in free bets and other promotions. As such, adju..

March 12, 2025

Betting platform showdown: Champions League data reveals when risk pays off – and when it doesn’t

Bettormetrics and iGB present key insights comparing the performance of leading betting platforms during the UEFA Champions League, offering a comprehensive analysis of market trends.

The data from the group stages of the UEFA Champions League matches provides valuable insights into how major betting platforms performed under high-traffic conditions. Key metrics such as uptime, lost wagering, arbitrage exposure and acceptance uptime highlight each operator’s strengths and weaknesses.

Best betting sites for uptime and stability

SkyBet edged out 888Sport and PaddyPower to claim the highest uptime in our cohort, reaching 93.8%. Due to their high uptime and relatively stable price lines, SkyBet also achieved the greatest acceptance uptime, allowing bettors to place wagers more consistently.

Conversely, PaddyPower’s progressive suspension strategy was undermined by its extremely sensitive price lines. The sensitivity of its price lines resulted in a higher frequency of price changes and..

March 12, 2025

Bettormetrics Champions League trading review

For an in-depth data analysis, click here to check out the Bettormetrics trading review.

March 11, 2025

Happy anniversary! North Carolina’s first year of sports betting in line with other states its size

Tuesday (11 March) marked a year since North Carolina launched sports betting and its regulator shared a snapshot of what the first twelve months looked like.

According to the North Carolina State Lottery Commission, operators took $6.6 billion (€6.1 billion/£5.1 billion) in bets during the first 12 months. The commission released an anniversary report describing the numbers from the first year, problem and responsible gambling initiatives and how legalisation and launch happened.

According to the report, operators collected $713 million in gross gaming revenue (GGR) and paid the state $128 million in taxes. The state charges an 18% tax on GGR.

The numbers fall in line with other states of similar size and situations. North Carolina has a population of 11 million people, several big-time college football and basketball teams, three major professional sports teams and multiple NASCAR venues.

For comparison, in Ohio (population: 11.8 million), the Ohio Casino Control Commission launc..

March 11, 2025

SAFE Bet Act gets another day in the sun ahead of March Madness

A US congressman and senator are preparing to reintroduce the SAFE Bet Act, again saying they don't oppose digital gambling but want the federal government to make it safer.

On Tuesday (11 March), at a press conference on Capitol Hill, Representative Paul Tonko and Senator Richard Blumenthal gathered responsible and problem gambling advocates and an addiction survivor to talk about the Supporting Affordability & Fairness with Every Bet Act (SAFE Bet Act).

Tonko said there was a change to the original proposal, although the new bill has not yet been filed. In addition to previous requirements in the proposal, which saw no action in the prior congressional session, states would now be required to “work with the federal government to shut down the illegal market”.

This is an issue that states so far have taken the lead on. From Arizona to Michigan, regulators have sent cease-and-desist letters to offshore sportsbooks warning them to shutter. And state legislatures, including those..

March 11, 2025

North Carolina sports betting handle drops to six-month low in February

Player spending on sports betting in North Carolina hit $526 million (£407.3 million/€482.7 million) in February, the lowest monthly total since last August.

The February handle was 16% behind the $646.9 million wagered in North Carolina during January. It was also the fifth-lowest amount since the state launched its legal sports betting market in March 2024.

Figures posted yesterday (10 March) by the North Carolina State Lottery Commission show some $17.4 million of the handle total came from promotional wagers.

In addition, $2.6 million in bets were voided, while players won a total of $485.2 million from betting in February.

Monthly betting revenue tops $55.7 million

Gross wagering revenue reached $55.7 million, down 25.2% from January. The state’s record haul came in November, when $78.1 million was reported.

As such, monthly hold in the state was 10.59%, behind the 11.05% reported in January.

In terms of tax, North Carolina was able to draw just over $10 million from sports..

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Tag: Online sports betting