Online sports betting – Page 7

March 3, 2025

Time short, but Georgia house now has sports betting bills to consider

A pair of Georgia house bills that would allow pro sports teams wagering licences dropped late last week. Time, however, is running short.

The Georgia general assembly’s crossover deadline for a bill to be sent to the opposite chamber is 6 March. HB 686, a framework for online sports betting, and HR 450, a constitutional amendment, were filed on 28 February. As of Monday, they had not been assigned to a committee.

Similar legislation was filed earlier in the session in the senate. Fox 5 Atlanta reported that the senate regulated industries and utilities committee did not advance the constitutional amendment on 27 February.

In the house, the package of bills would legalise only digital sports betting and send voters the decision on whether to do so by referendum. Should the legislation pass, it would create an open, competitive marketplace with the Georgia Lottery Corporation as the regulator. The lottery would also be able to have a digital betting platform.

One unusual line in ..

March 3, 2025

Virginia sports betting revenue bounces back as handle holds steady in January

Adjusted gross sports betting revenue in Virginia almost doubled month-on-month during January despite handle remaining level, while the state also reported year-on-year growth.

Revenue hit $81 million (£63.8 million/€77.3 million) in January. This beat December’s total by 84.5% and was also 20% ahead of the previous year, data published by the Virginia Lottery on 28 February shows.

Many states were impacted by customer-friendly sports results during December. However, markets normalised again in January, with revenue totals reflecting this trend.

Breaking down revenue performance, $80.2 million came from online betting. In contrast, just $830,102 was generated from retail wagering in Virginia.

Virginia handle up 12.8% YoY

As for handle, this amounted to $736.7 million in January. While only 1% more than the total for December, it exceeded the previous year by 12.8%.

Players in Virginia spent $730.5 million wagering online and a further $6.2 million at retail sportsbooks across t..

March 3, 2025

Weekend Report: Trump set to pardon Pete Rose, new Genting Berhad CEO, Pope betting

Welcome to the Weekend Report, where iGB looks at the news that you may have missed across Friday, Saturday and Sunday. This week: Trump set to pardon Pete Rose, Genting Berhad names new CEO and controversial Pope betting markets.

Trump pledges to pardon Pete Rose

US president Donald Trump has said he will pardon baseball legend Pete Rose and hit out at the decision to exclude him from the sport’s Hall of Fame.

Rose was banned from baseball for life after admitting to betting on the sport back in 2004 but never bet against his own team. His bid for reinstatement was rejected in 2015.

Rose, who also served five months in prison after pleading guilty to tax evasion in 1990, died last year aged 83.

Writing on social media last week, Trump said he will pursue a “complete pardon” for Rose.

“He never betted against himself, or the other team. He had the most hits, by far, in baseball history and won more games than anyone in sports history,” Trump said, according to ESPN.

Genting Berh..

March 3, 2025

Hong Kong could legalise hoops betting by next NBA season

The government of Hong Kong is inching closer to legal betting on NBA basketball. Punters may be able to bet on the upcoming season, which begins in October.

Hong Kong’s 2024-25 budget, released 26 February, included a proposal for legal wagers on the sport.

A similar proposal failed to gain traction in the 2024 legislative session. But this year, the odds may be in its favour for financial reasons.

The Chinese special administrative region (SAR) faces a budget deficit of more than HK$100 billion (£102 million/€124 million/$128.6 million). That’s more than twice the shortfall projected at the start of 2024.

Hong Kong’s economy grew 2.5% in 2024, down from 3.2% in 2023. Trade tensions with the United States could deepen the SAR’s fiscal crisis. In response, the cash-strapped government is laying off tens of thousands of civil servants and searching for new sources of revenue. An expanded gaming industry could help.

Tapping a billion-dollar revenue stream

In his annual budget spe..

February 28, 2025

State of the Union: College basketball black eyes, Brennan leaving Prime Sports, 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.

Two college hoop teams investigated over gambling

Just over two weeks ahead of Selection Sunday, college basketball is getting more black eyes. Two universities have opened gambling investigations.

College basketball analyst Jeff Goodman tweeted on 26 February that the four University of New Orleans (UNO) players who have been benched since late January are now under investigation for gambling. In addition, on the West Coast, Fresno State sat out two players on 22 February in the midst of a gambling investigation.

The New Orleans men’s basketball team has held out four of its top five scorers since a Jan. 27 loss to UIW due to an investigation into sports gambling, sources told @TheFieldOf68.
Leading scorer James White (19.2 ppg), Jah Short (9.2 ppg), Dae Dae Hunter (8.2 ppg) and Jamond…
— Jeff Goodman (..

February 28, 2025

Free prize draws could be cannibalising lottery, says GC’s Andrew Rhodes

The percentage of people gambling in the UK remained flat during Q3 at 48%, although Gambling Commission (GC) CEO Andrew Rhodes believes a significant uptick in free prize draws could be cannibalising the licensed lottery vertical.

Some 4,675 adults were surveyed for wave three of the GC’s GSGB, covering the three months to the end of October. The GSGB reports that 48% of respondents gambled at some point in the previous four weeks, level with both Q1 and Q2.

Commenting on the data during the Betting and Gaming Council’s AGM on 27 February, Gambling Commission CEO Andrew Rhodes noted a significant rise in activity on free prize draws, which are not regulated under the Lotteries Act and therefore not featured in the data or even considered gambling by law.

“We’ve seen the growth of large-scale prize draws and that growth has been very significant,” Rhodes told BGC members.

“We’ve also seen society lottery sales go over the £1 billion mark for the first time.”

He noted that price ..

February 28, 2025

Penn’s ESPN Bet struggles continue; Snowden addresses plans if progress stagnates

Penn Entertainment's Jay Snowden pointed to “lower loss sequentially” coming every quarter in 2025 as well as better ways to “optimise spend” with ESPN in the company's quarterly earnings conference call. But Penn fell short of some expectations and beat others for the last quarter of 2024.

Saying once again on the company’s fourth-quarter earnings call on Thursday (27 February) that the future is bright, Penn’s CEO placed heavy focus on what is to come versus what has already happened Snowden said Penn is seeing “green shoots” throughout its departments while “we have more work to do to unlock the full potential and value of our partnership with ESPN”.

For digital gaming overall, the company reported revenue of $275 million (£218 million/€$264.7 million) for the fourth quarter. Its $109.8 million in adjusted EBITDA loss was a $224 million improvement compared to the same quarter for 2023, but those numbers still pulled down Penn’s overall performance and were below analys..

February 28, 2025

Formula 1 signs ALT Sports Data as official betting data supplier

San Diego-based ALT Sports Data has entered into an official betting data partnership with the Formula 1 motor-racing series.

Under the terms of the deal, announced today (28 February), ALT Sports Data becomes the official betting data supplier to Formula 1. The length of the new agreement has not been disclosed.

ALT Sports Data will develop betting-focused, real-time predictive analytics for Formula 1. The data specialist will also supply proprietary data and priced odds solutions for the wagering sector.

Formula 1 said the partnership will help to expand its betting options, with more markets being made available to fans. It added that working with ALT Sports Data will ensure betting data is accurate, consistent and ratified.

Formula 1 eyes greater fan engagement

The series also said the deal will offer fans new ways to interact with the sport, with more betting options to increase engagement with Formula 1.

“Sports betting is an increasingly important part of the global fan ex..

February 27, 2025

Florida legislature makes move that could result in sweepstakes ban, lay icasino groundwork

Bills would extend gaming ban to sweepstakes casinos, internet casino gaming, and online sports betting in the state outside the scope of the Seminole Tribe.

Two bills were introduced in the Florida legislature this week that would expand the state’s ban on gambling. “Sweepstakes casinos,” internet casino gaming, and online sports betting outside its compact with the Seminole Tribe could be prohibited if the legislation passes.

Representative Walter Barnaby filed HB953 24 February. Senator Corey Simon filed his companion bill, S1404, in the upper chamber 26 February. The language in the bills expands the ban to “internet gambling” and “internet sports wagering.” As written, the bills leave room for interpretation; one is that the Seminole Tribe may be looking to expand into internet casino gaming via Hard Rock, and another is that the bill is an effective ban on sweepstakes casinos.

Hard Rock expanded its retail casino suite of games to include Class III gaming — including mobile sp..

February 27, 2025

Hawaii senate committee defers digital betting bill as legalisation hopes fade

A Hawaii senate committee deferred a version of a digital sports betting bill that was sent to the house floor, leaving the issue all but dead.

Up until Wednesday (26 February) afternoon, Hawaii looked like the state with the best shot to legalise digital sports betting in 2025. But the senate commerce and consumer protection/ways and means committee opted instead to defer the bill.

Its companion, HB 1308, got through the house finance committee two days earlier. But without a taste for the issue in the senate, any further action by the house will likely be academic.

SB 1569 did not get any discussion on Wednesday. “After reviewing the testimony, the recommendation is to defer,” said Donovan M Dela Cruz, the chairman of the senate committee.

Written testimony revealed that multiple state government agencies oppose the measure, including the department of the prosecuting attorney; the department of business, economic development and tourism; and the attorney general. All cited co..

February 27, 2025

Arizona sets new sports betting handle and revenue records in November

Arizona reported a record sports betting handle for the second consecutive month during November 2024, while the Grand Canyon State also saw revenue reach an all-time high.

Spending on sports betting in November hit $897.6 million (£708.2 million/€856.6 million). This beat October’s prior record of $759.8 million by 18.1% and was also 25.8% ahead of the previous year in Arizona.

Data from the Arizona Department of Gaming shows online spending amounted to $890 million, while retail wagers topped $7.6 million.

Consumer winnings across online and retail totalled $811.3 million. As such, adjusted gross event wagering receipts hit an all-time high of $84.1 million. This beat the previous record, set in September 2024, by 8.7% and was almost double November 2023’s total.

Online betting drew $83.3 million of all adjusted gross event wagering receipts during the month. In contrast, retail sports betting generated just $773,634.

Free bets in November amounted to $26.6 million, meaning adju..

February 26, 2025

Gambling tax increases are all the rage, with New Jersey the latest to consider it

New Jersey governor Phil Murphy has plans to spend $58.1 billion this year and he wants to finance some of that by raising sports betting and igaming taxes among other levies.

The proposal, which Murphy shared on Tuesday (25 February), is the latest gambling and sports betting tax increase proposed in the US in the last year. It feels somewhat ironic, in that Murphy’s name is on the lawsuit that overturned the Professional and Amateur Sports Protection Act (PASPA) in 2018. Since then, 38 states have launched some form of sports betting (Missouri is also set to launch later this year), with two of those hiking their original sports betting tax rates.

Murphy proposes hiking both the sports betting and igaming tax rates to 25%, up from 13% and 15%, respectively.

“This tax increase would be a wrong turn for New Jersey,” industry lobbyist Jeremy Kudon countered in a statement on behalf of the Sports Betting Alliance (SBA). “Since New Jersey first launched regulated sports betting seven..

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Tag: Online sports betting