Retail sports betting – Page 36

October 4, 2022

Italy avoids turnover tax on betting

Italy’s new legislative decree on sports betting – which will not contain the tax on turnover that had been proposed – is set to come into force on 28 October, having been published in the country’s official gazette.

Under these new rules, the tax on retail betting revenue will be 20%, while for online it will be 24%.
Previously, Italy had considered introducing an additional 1% turnover tax instead, but this plan was scrapped.

The law will also introduce a €1 minimum bet, while winnings for any fixed-odds bet will be capped at €50,000.

These new rules will come into force on 28 October, which will be 30 days after their publication in the Official Gazette. They will cover any fixed-odds bets on events other than horse racing, including non-sporting events approved by the Italian Customers and Monopoly Agency.

Italian sports betting in recent years has been heavily impacted by the introduction of a total marketing ban in 2019. This ban, referred to as the “dignity decree”, has bee..

September 30, 2022

RI sports betting bounces back in August as revenue hits five-month high

The Rhode Island Lottery reported year-on-year growth within the state’s sports betting market in August, while revenue reached its highest monthly total since March 2022.

Revenue for the month amounted to $3.0m, which was 172.7% higher than $1.1m in August of last year and also 3.5% up from $2.9m in July this year.

Of this total, $1.6m was attributed to online betting activity, while $1.4m came from retail sports betting via sportsbooks at the Twin River and Tiverton Casino land-based sites.

Twin River was the more successful of the two casinos, bringing in $866,413 in revenue for the month, while the Tiverton casino generated $504,225 from sports wagering.

In terms of handle, player spending in August reached $27.7m, up 15.4% from $24.0m in August 2021 and also 9.9% higher than $25.2m in July of this year.

Consumers spent $17.9m betting online during the month, as well as $9.9m at land-based sportsbooks. Twin River processed $6.1m in retail bets and the Tiverton Casino $3.8m.

F..

September 29, 2022

GAN debuts sports betting in US with Island View Casino launch

GAN has launched sports betting with Island View Casino in Mississippi, marking the first US deployment of GAN Sports since its acquisition of Coolbet in January 2021.

Consumers at the casino will be able to place sports bets at 20 internet-connected kiosks, while GAN will also roll out a “Bet the V” branded mobile sportsbook to complement the retail offering.

The mobile solution will be enabled by GAN’s GameSTACK Player Account Management (PAM) system for omnichannel sports betting via retail kiosks or mobile devices while on location at the casino.

GAN will also provide supporting marketing and customer services, while the deal will allow for the state-wide roll out of mobile sports betting, should Mississippi pass the relevant laws to expand wagering in the future. At present, consumers are only permitted to place mobile bets while on-site at a licensed casino.

The launch was made possible after GAN acquired Vincent Group, the parent company of operator Coolbet, for $175.9m in J..

September 29, 2022

Danish regulator cancels one of two injunctions against Tipwin

Danish regulator Spillemyndigheden has cancelled a money laundering injunction it issued against Tipwin earlier this year, but left a second injunction against the operator in place.

In June, the regulator said it had reported Tipwin to local police and issued injunctions over failings in the anti-money laundering efforts undertaken at its retail betting shops.

The regulator said the business had breached two different sections of the Danish Money Laundering Act: Section 7, which deals with risk assessments, and Section 8, about policies and practices for staff to detect possible cases of money laundering.

However, after what Spillemyndigheden described as “careful consideration”, it cancelled the injunction that related to Section 8. It said that, as Tipwin’s staff that should have been responsible for these practices were outsourced, the operator did not commit a failing here. However, it did note that the failings would be covered by a different section of the Act: Section 24.

U..

September 28, 2022

Elys granted approval for DC nightclub sportsbook

Gaming technology provider Elys Game Technology has been granted approval by Washington DC local government for a white-label joint venture with the Ozio Lounge, a Mediterranean-themed nightclub.

The business formerly known as Newgioco has agreed to launch a joint venture with District Hospitality, the club’s operator, and will trade under the BetDupont LLC name. The agreement has an initial term of three years from the date the licence is issued – with inbuilt provisions for two anticipated extensions of two years each.

The deal is subject to regulatory approval from the DC Office of Lottery and Gaming (DCOLG) – and would be the third white label retail sportsbook opened by the business in the city, having engaged in similar deals with the Grand Central Restaurant and Sportsbook, which has been completed and the Cloakroom Gentlemen’s Club, which is awaiting regulatory confirmation.

Elys executive chairman Michele Ciavarella placed the deal in the context of the business’ wider US s..

September 26, 2022

World Series of Politics: The NFL, the Wire Act and Brazil

It's a busy episode this week, with Brendan Bussmann and Brandt Iden looking at the NFL, the Wire Act and Brazil's election.

The dynamic duo kick off by discussing sports betting activity around the National Football League’s kickoff on 8 September. This season is set to be the biggest ever for sports betting; 46.6 million Americans plan to place a bet during the season.

Listen on Apple Podcasts

However, there are some issues emerging on where bets can be placed – the league is trying to prevent betting on match days.

There’s also some intrigue around the Wire Act, in the wake of a Rhode Island District Court judge ruling that the Department of Justice must formally state that it only applies to sports betting. Could this provide much-needed clarity after an attempt to enforce the act across all forms of gambling?

Does this mean the issue is dead and buried? Brandt is confident, but Brendan is not so sure.

Further afield, Brazil is preparing to go to the polls in a ..

September 26, 2022

Maryland aims to speed up online betting licensing with rolling approvals

The Maryland Sports Wagering Application Review Commission (SWARC) has agreed to award licenses for mobile sports betting on a rolling basis, in an effort to launch the vertical this year.

SWARC opened applications for mobile sports betting licences on 7 September. The application period will end on 21 October at 5pm.

The application fee is $500,000.

Read the full story on iGB North America

September 22, 2022

Playtech moves away from plans to sell Snai amid good trading

Playtech will put aside any plans to sell off its B2C Snaitech business – at least temporarily – after the business determined that its recent success meant it could deliver more value by remaining part of the group.

Comments on the subject came from Playtech leadership following the business announcing its H1 results, in which revenue was up 73% year-on-year to €792.3m. Revenue from Snaitech specifically almost tripled to €446.0m.

The supplier had reportedly been considering a break-up of its business, including a sale of the Snaitech arm it acquired in 2018, after plans to sell the entire business fell through. The Playtech board approved an offer from land-based slots giant Aristocrat, but shareholders ultimately rejected this deal.

A group called TTB Partners then announced that it was considering a bid of its own, and received support from Playtech chief executive Mor Weizer (pictured). However, amid changing market conditions, TTB ultimately declined to submit a bid for the ga..

September 21, 2022

German municipalities now unable to tax betting shops

The German supreme court for administrative matters, the Federal Administrative Court, has ruled that municipalities will no longer be able to levy a betting shop tax.

A lawsuit had been originally brought about by the bookmakers that operated betting shops in the German city of Dortmund. Since 2014, the city had been levying a municipal tax based on the dimensions of the physical area of the betting shop – which was defined as areas where bets were processed and monitored. The tax was designed to be passed directly onto consumers.

However, in 2017 the Federal Administrative Court ruled that the tax could not be based on the area of the shop, leading to the city rewriting the statute as a 3% stake tax – this was in addition to the federally imposed 5% stake tax for sports betting.

Following this, the Münster Higher Administrative Court allowed an appeal about whether this tax by multiple levels of government was inadmissible due to similarities with taxes imposed under the Lottery A..

September 21, 2022

Colorado sports betting handle reaches $4.82bn in FY2021-22

Consumers in Colorado wagered a total of $4.82bn on sports during the US state’s 2021-22 financial year.

During the 12-month period, players in the state spent $4.78bn betting on sports over the internet, as well as $59.7m at retail sportsbook facilities across Colorado.

Basketball was the most popular sport among consumers by some margin, attracting a total of $1.20bn in wagers over the course of the year. Football bets amounted to $768.6m and baseball $506.2m, while $872.5m worth of parlay wagers were also placed.

In terms of revenue, total gross gaming revenue from sports betting was $282.6m for the financial year. The majority of this came from online, with this form of betting accounting for $279.6m, while retail revenue reached just $3.0m for the year.

Read the full story on iGB North America.

September 13, 2022

Operators challenge German sports betting proximity ban

The constitutional court in the German state of Baden-Württemberg will hear a case from four operators challenging a ban on operating sports betting facilities in the same building as casinos and gaming halls.

Section 21 (2) of Germany’s First State Treaty on Gambling (GlüStV) prohibits sports betting and casino activities from taking place in the same building.

Germany’s Fourth State Treaty on Gambling came into force in July 2021.

The complaint states that administrative courts did not provide adequate protection for operators that had sports betting facilities in the same building as casino activities, when the GlüStV and, subsequently, section 21 (2) was enacted.

The complaint also cites a lack of temporary protection.

Section 42 (1) of the LGüG – Baden-Württemberg’s state-level gambling act, which was brought in in 2012 – states that gambling facilities must be at least 500 meters apart, measured from entrance door to entrance door.

The complaint will be discussed on 21 Nove..

September 5, 2022

FanDuel mobile and retail sports betting live in Kansas

FanDuel has launched its sports betting offerings in Kansas, in the form of an app as well as a retail sportsbook in conjunction with Boyd Gaming.

Kansas bettors can now place wagers on the online FanDuel Sportsbook, and can download its official app.

Alongside mobile sports betting, FanDuel has also opened a temporary retail sportsbook with Boyd Gaming at the Kansas Star Casino, with the grand opening of the permanent venue at the casino scheduled for 8 September.

The ceremony will see NFL wide receiver Jordy Nelson place the ceremonial first bet.

The retail sportsbook at the Kansas Star will feature four betting windows, 28 HD televisions and 20 self-service betting kiosks.

Kansas has become the latest US state FanDuel’s mobile betting app is live in, after most recently launching in Wyoming and Louisiana in March and January respectively.

Currently, FanDuel has 51% total market share in the US, according to parent company Flutter’s recently released Q2 results.

Last month, Fa..

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Tag: Retail sports betting