Retail sports betting – Page 7

October 8, 2024

G2E: California betting initiative could be as soon as 2026, but “probably” 2028

Two years after a pair of California legal sports betting initiatives lost in spectacular fashion, a key tribal leader teases what's coming next and when.
On Tuesday (8 October) James Siva, chairman of the California Nations Indian Gaming Association, said that Indian Country is restarting discussions about what a tribal legal sports betting initiative would look like. As for timing, he said “maaaaaybe 2026, but probably 2028,” at the Global Gaming Expo (G2E) in Las Vegas.

Siva was on a panel titled ‘Tribal Sovereignty and Sports Betting: A Delicate Balance’. He was joined by Washington Indian Gaming Association chair Rebecca George, Minnesota Indian Gaming Association executive director Andy Platto and Oklahoma Indian Gaming Association board chairman Matt Morgan. Indian Gaming Association convention chair Victor Rocha moderated the panel.

California would be the biggest online gaming market in the US and the fight to legalise sports betting has been fierce and protracted. It ..

October 8, 2024

Online casino drives Denmark gambling revenue to DKK571m in August

Gross gaming revenue (GGR) in Denmark reached DKK571m (£64.2m/€76.6m/$84.1m) in August as online casino growth offset declines elsewhere in the market.
The August total was 4.3% ahead of last year, according to data from Denmark regulator Spillemyndigheden. It was also 3.1% more than DKK554m in July of this year.

Growth was driven by a 20.8% year-on-year increase in online casino revenue to DKK299m in August.

This was also ahead of July by 5.3% and not far off the all-time monthly revenue record for the vertical. Spillemyndigheden reported DKK309m in online casino GGR in March of this year.

However, all other segments of the Danish market reported declines in August. The largest drop came in the sports betting sector, where revenue was 14% lower at DKK147m during the month. This was also 1.3% lower than in July.

Land-based woes continue in Denmark
As for the land-based sector, declines noted in recent months continued in August. Physical slot machine GGR was down 0.2% to DKK96m dur..

October 8, 2024

Asian Football Confederation partners IBIA to tackle match-fixing

The Asian Football Confederation (AFC) has entered into a partnership with the International Betting Integrity Association (IBIA) strengthening its efforts to combat match-fixing across the sport.
Under the memorandum of understanding (MoU), the parties committed to jointly detect irregular betting patterns and suspicious activities in football. The partnership between the AFC and IBIA will run for a period of four years.

The IBIA will deploy its Monitoring and Alert Platform to share real-time data on suspicious betting activity with the AFC. This will strengthen the AFC’s abilities to investigate potential match manipulation.

Both parties also said that the partnership will support the AFC’s goal of creating a secure environment for the sport.

AFC committed to keeping football “clean”
Speaking about the deal, AFC general counsel and director of legal affairs, Andrew Mercer, says the organisation is committed to maintaining high ethical and sporting standards within football.

The ..

October 7, 2024

Weekend Report: Betfred to exit AZ and VA, Canada betting ad bill framework advances, Sorare pleads not guilty

Welcome to the Weekend Report, where iGB looks at the news that you may have missed across Friday, Saturday and Sunday. This week: Betfred confirms closure dates in Arizona and Virginia; Canada sports betting advertising bill framework advances and Sorare pleads not guilty over unlicensed gambling charges.
Betfred stepping back from sports betting in several states
First, Betfred has confirmed it is exiting two more US states by announcing closure dates for its sports betting services in both Arizona and Virginia.

Betfred will cease online operations in Virginia first, with a date of 21 October confirmed by the bookmaker. This will be followed by a shutdown in Arizona a couple of weeks later on 4 November. Customers in both states will have until 10pm local time in each state to access their account and make withdrawal requests.

This confirmation follows Betfred’s exit from several other US states during recent months. It ceased online and retail operations in Colorado on 31 August, ..

October 4, 2024

Kentucky sports betting handle tops $2.39bn in first year

Players in Kentucky spent $2.39bn (£1.81bn/€2.17bn) betting on sports during the state's first year of regulation, while adjusted gross revenue in the Bluegrass State reached $272m.
Kentucky launched legal retail sports betting on 7 September 2023, with online wagering going live three weeks later. State regulator, the Kentucky Horse Racing Commission, has now published figures for the 12 months to the end of August.

Players in Kentucky favoured online betting, with total spend over the internet at $2.3bn in year one. In contrast, retail sportsbook attracted $87.1m in wagers during the 12-month period.

Revenue-wise, online betting generated $264.3m and retail wagering $7.8m. Figures related to adjusted gross revenue, which is revenue after player winnings and federal excise tax.

On the subject of tax, Kentucky collected $37.7m from online sports wagering and $756,517 retail betting. As for hold, the state’s total in year one was 9.28%, with online at 11.5% and retail 8.91%.

Fa..

October 3, 2024

FanDuel holds off DraftKings challenge to lead Ohio betting market in August

Flutter Entertainment-owned FanDuel remained the frontrunner in the Ohio sports betting market in August – a month in which the Buckeye State saw revenue drop to a calendar year-low
According to the Ohio Casino Control Commission report that dropped on Tuesday (1 October), total player spend in Ohio for August was $547.9m (£417.6m/€496.2m). This is 44.6% ahead of last year and 14.9% more than July of this year.

Consumers wagered $539.9m on sports online during the month, while a further $13.0m was bet at retail sportsbooks.

In terms of taxable revenue, this amounted to $48.8m, the lowest monthly total so far for 2024. The August figure was 19.6% more than the same month last year but 8.8% behind July’s $55.3m haul.

Online sports betting generated $46.6m in revenue, while retail sportsbooks contributed $2.0m to the monthly total. Total taxable revenue for the year-to-date in Ohio stands at $541.5m.

As for hold, this hit 8.91% for the state as a whole in August. Online hold was 8.63%..

October 2, 2024

More BetMGM betting violations revealed in Massachusetts

An external audit commissioned by BetMGM in Massachusetts revealed multiple potential violations of state wagering regulations. The Massachusetts Gaming Commission (MGC) decided on Wednesday (2 October) to handle the newly found violations and two existing ones in a single adjudicatory hearing.
After BetMGM allowed banned prop bets on college football games and professional soccer matches, the operator hired Gaming Laboratories International (GLI) to audit its books. That company found additional potential “non-compliant” bets, including:

Forty-one more college-player props on college football;
Thirteen college-player props on college basketball;
Twelve college-player props on two women’s Elite Eight college basketball games on 1 April 2024; and
One hundred-and-six bets placed between 8 June 2024 and 17 June 2024 on Glory Kickboxing events.

College-player prop bets are prohibited in Massachusetts. And Glory Kickboxing is not an approved betting market. MGC staff revealed the add..

October 2, 2024

US August revenue round-up: Sports betting in Virginia, Colorado and Rhode Island

Rounding up some of the latest monthly sports betting results in the US, iGB take a closer look at how the markets in Virginia, Colorado and Rhode Island performed during August.
Virginia handle rockets 30.6% in August
Starting in Virginia, monthly handle in Old Dominion hit $416.7m (£313.8m/€376.6m). This is 30.6% more than August last year and 10.4% ahead of July of this year.

Figures from the Virginia Lottery show players spent $414.8m betting online and $1.9m at retail sportsbooks inside casino.

Players won $376.5m, while the Lottery accounted for $6,057 in promotions and bonuses and $5.2m in other deductions. As such, adjusted gross revenue for August amounted to $35.0m, up 24.1% year-on-year but 10.7% lower than July.

Online betting accounted for $34.6m of total revenue in August, with the other $415,139 coming from retail sportsbooks. Overall operator hold percentage for the month stood at 9.63%.

The Virginia Lottery does not publish a breakdown of individual operators. Howe..

October 1, 2024

Pete Rose bet on his own team. But he also embodied baseball for generations. That’s worth remembering

Baseball legend Pete Rose died on Monday (30 September). But you already know that. And if you're like me and grew up watching Rose play, you're left with a host of complicated feelings.
Since that fateful day 35 years ago, when Pete Rose accepted a spot on baseball’s “permanently ineligible” list, his legacy has been fraught. Unquestionably one of the best ballplayers who ever lived, Rose broke sports’ cardinal rule. He bet on baseball and, not only that, on his own team.

Rose died in his home on Monday of causes yet unknown, a spokesperson for the Clark County office of the coroner/medical examiner in Nevada told CNN. He was 83.

On 23 August 1989, then-Major League Baseball commissioner A Bartlett Giamatti banned Rose from the game. Forever. Rose didn’t think it would stick. But Giamatti died of a heart attack just a week after penalising Rose. Since then, no other MLB commissioner has seriously considered reversing the ban, which means Rose could very well be the best..

September 30, 2024

Weekend Report: DraftKings penalty, former deputy PM talks UK election betting, David takes over at Entain

Welcome to the Weekend Report, where iGB looks at the news that you may have missed over Friday, Saturday and Sunday. This week, DraftKings agrees to pay $200,000 over disclosure violations, former British deputy PM speaks to the regulator about election betting probe and Stella David takes the helm at Entain.
DraftKings faces $200,000 penalty
First this week, DraftKings has agreed to pay a $200,000 (£149,251/€178,756) penalty for selectively disclosing certain material non-public information on social media accounts, instead of all investors.

In July last year, DraftKings’ public relations company published posts on LinkedIn and X, formerly Twitter, about “strong growth”. This was despite DraftKings having not released its Q2 2023 financial results. DraftKings asked for the posts to be removed but did not distribute information to investors for another week.

The US Securities and Exchange Commission hit out at DraftKings. It said such information must be made available to all inves..

September 27, 2024

State of the Union: UNLV QB, G2E headliners and 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.
Circa tries to remedy UNLV QB mess
A Circa vice-president reportedly offered to pay UNLV quarterback Matthew Sluka $100,000 (£74,730/€89,550) that Sluka said he was promised by an assistant coach at the school. But by the time the offer came, Sluka had already redshirted. He said he was leaving the Rebels, who have started the season 3-0.

Per the Action Network, Circa Sports VP of Operations Mike Palm contacted the school midweek after having a conversation with Circa CEO and owner Derek Stevens. Palm told the outlet that he talked with Stevens “about assisting the school in keeping its starting quarterback”.

“I told Derek, ‘Why don’t we take a run at it?’” Palm told Action Network. “’The kid’s claiming he’s owed $100,000. Are you willing to make a call to UNLV to help out?’”

But Sluka and UNLV had already ..

September 27, 2024

Nevada August betting revenue jumps 39.7% while slots hit total GGR

Rounding up some of the latest monthly state results in the US, iGB takes a closer look at how a drop in slots activity saw overall gambling revenue fall in Nevada in August, while Mississippi reported growth within its retail sports betting market.
Mobile sports betting in Nevada was up 13% on 2023 to $14.8m, data from the Nevada Gaming Control Board shows.

Baseball reaped the highest revenue of all sports during the month, making up $9.7m of the vertical’s revenue in August, while American football betting hit $8.7m. However, hockey and basketball betting activity both generated losses for operators.

Betting across other sports generated $7.6m in additional revenue, with the Control Board noting that $14.8m of all wagering revenue came from mobile.

Meanwhile revenue from sports betting pools, which is counted under table games, jumped 38.9% year-on-year to $25m in August.

The Control Board does not disclose handle details for sports betting.

Nevada revenue down again in August
..

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Tag: Retail sports betting