Sports betting regulation – Page 14

January 26, 2023

Plotting out the priorities for US sports betting in 2023

Reflecting on the last year, 2022 was another year of growth at breakneck speed in the US sports betting market – particularly from a regulatory perspective.

As of December 2022, sports betting had either been fully legalised, or had approved legislation, in 36 states plus Washington DC, with Ohio kicking off 1 January 2023 with a roar. In fact, opening weekend numbers in Ohio shattered previous records held by New York and Pennsylvania, with 11.3 million geolocation transactions and 783,900 unique accounts created.

Measuring the opportunity

With that growth, we have seen an influx of companies entering the betting space – not just operators but also folks like new platform providers, unique B2B product and service providers and marketing affiliates.

eric frank, ceo and co-founder, odds on compliance

But it hasn’t been all roses and sunshine.

The year 2022 saw a number of sportsbook operator closures, the SPAC market dried up and investment money became tougher to come by. There ..

January 17, 2023

World Series of Politics Episode 11: GeoComply’s Linsday Slader on Ohio

The special guests keep coming on the World Series of Politics, with GeoComply’s Linsday Slader joining Brendan Bussmann and Brandt Iden to discuss Ohio’s sports betting launch. Also under discussion are Brazil, Macau and the US legislative session.

The geolocation specialist’s managing director of gaming says Ohio’s sports betting launch was one of the biggest market openings in the US to date.

Over the New Year weekend alone, GeoComply recorded more than 11.3 million geolocation transactions, and Slader says around 1.2 million accounts were set up in the first week of activity.

This episode also marks the World Series of Politics’ debut on Spotify! You can also listen on Apple Podcasts, and directly from this page.

Ohio betting flies out the blocks

There’s also a wider range of betting options than ever before, with 1,000 kiosks rolled out across Ohio, and it’s going to be interesting to see how this works in tandem with a widespread mobile offering. If it keeps up its early ..

January 13, 2023

New York bill would require warning in gambling ads

The state of New York has proposed a bill to amend the racing, pari-mutuel wagering and breeding law, to require all advertisements for gambling and sports betting to include warnings on the potential harm of gambling.

The bill, introduced into the State Senate by Democratic senators Leroy Comrie and Luis R Sepúlveda, has not yet been voted on.

Specifically, the amendment “requires all advertisements for gambling and sports betting to include warnings about the potential harmful and addictive effects of gambling; requires the state gaming commission to cooperate with the commissioner of addiction services and supports to ensure that all advertisements for gaming activity state a problem gambling hotline number”.

The amendment also proposes to include mobile sports wagering licences into the advertisement requirement.

If the motion passes, it will take effect sixteen days after it becomes a law.

Ohio marketing violations

As part of its regulations when it legalised sports bett..

January 9, 2023

Gaming bill filed as Texas gears up for 2023 legislative session

The Texas legislature will consider a bill that would amend the state’s constitution to legalise casinos at a limited number of locations and set the stage to permit sports betting.

The proposed law – Senate Joint Resolution 17 – would devise the framework for a new body named the Texas Gaming Commission, which would supervise legalised gambling in Texas.

Casino gambling would be authorised at a “limited number of destination resorts and facilities” with the proceeds going towards tax relief and funding for education and public safety.

The amendment’s author is Houston-based state senator Carol Alvarado, a Democrat who initially pre-filed the bill on 14 November 2022.

Read full story on iGB North America

January 5, 2023

Missouri sports betting bill introduced

A bill that would permit sports betting in Missouri has been introduced in the state house as the current legislative session begins.

House Bill 581 was sponsored and introduced on 4 January 2023. It was sponsored by representative Phil Christofanelli.

If passed, the bill would repeal three sections of the current law and enact seventeen new ones related to sports gambling.

The bill would enable land-based casinos to offer sports betting as well as to partner with suppliers to offer sports gambling online.

Number of sports betting operators in Missouri

Each land-based casino can partner up with three online sports gambling brands , with a limit of six online partners for companies that own multiple casinos.

The proposed amendments would also allow Missouri-based sports teams to partner with a digital sports gambling provider to launch an online service. Sports teams to qualify must play in the NFL, MLB, NHL, NBA, MLS, WNBA or NWSL.

The state has multiple sports teams that would..

January 4, 2023

Bill proposed in Connecticut to ban greyhound racing

A bill has been proposed in the Connecticut General Assembly that would ban both greyhound racing within the state, as well as stop operators simulcasting racing from out-of-state locations.

Proposed House Bill 5042 – put forward by two Republican and one Democratic legislators – currently has been referred to the committee of public safety and security.

The individuals who proposed the bill are Representative Klarides-Ditria from the 105th district, Representative D’Agostino from the 91st district and Senator Somers from the 18th district.

Read the full story on iGB North America

January 4, 2023

SkillOnNet & Bet-at-home get German slots licences as new regulator takes over

SkillOnNet and Bet-at-home have become the latest operators to be licensed for online slots in Germany, as its federal regulator takes full control of gambling in the country.

The licence issued to SkillOnNet enables the provider to offer online slot games across all of its brands in Germany.

Bet-at-home, meanwhile, was granted a licence for online slot games alongside an extension of its sports betting licence.

SkillOnNet has said that it will be focusing on using its German-facing brand, DrueckGluek.de, which has established a presence in the country since 2015 since gaining a licence to operate in Schleswig-Holstein under the old regulation system.

Michael Golembo, sales and marketing director for SkillOnNet said: “Having the official German licence means SkillOnNet players will be part of a fully regulated experience, feeling more confident, safe and secure, many for the first time.

“It’s also a recognition that we meet the high standards of the German licensing regime and are..

December 20, 2022

BetMGM granted Massachusetts betting licence, but with strings attached

BetMGM and MGM Springfield have both been granted sports betting licences from the Massachusetts Gaming Commission (MGC), but conditions were attached to the licence of the former.

Issued with a category 1 sports wagering operator licence for Massachusetts, MGM Springfield is now allowed to operate betting at a land-based facility, as well as on up to two online platforms.

One of its online skins will be provided by BetMGM – an MGM-Entain joint venture – which was also awarded a temporary category 3 sports wagering operator licence. However, this came only under certain conditions.

BetMGM and MGM Springfield had initially applied individually for a Massachusetts sports betting licence. However, the relationship between the two entities created complications as MGM Springfield initially answered questions on the application with reference to BetMGM’s documentation.

As a result, the regulator delayed the vote on approving the licences until yesterday (19 December).

Massachusetts re..

November 28, 2022

World Series of Politics Episode 8: Midterms, Maryland, Minnesota and Texas

In episode eight of the World Series of Politics, Brendan Bussmann of B Global Advisors and Brandt Iden, now Fanatics Betting and Gaming's newly appointed vice-president of government affairs, take on California, Minnesota, Texas and Maryland.

We kick off this week’s podcast by congratulating Brandt Iden, who has taken on a major new role as vice-president of government affairs for Fanatics Betting and Gaming.

California sports betting hopes crash land

Our dynamic duo start off by picking over the wreckage of California’s sports betting ballot measures, reflecting on what went so disastrously wrong.

Is Minnesota in play?

Next they run the rule on the other states where the Midterms have heralded change. Brandt is surprised by the Democrats’ clean sweep in the Gopher State, but that could create opportunities for the industry.

The party’s strong relationship with the tribes facilitate legal Minnesota sports betting in 2023. Remember, there’s more on the Midterms from Brenda..

November 25, 2022

Waterhouse VC: Crunch time in the US

In his latest column, which goes live first on iGB, Tom Waterhouse of Waterhouse VC scrutinises the gambling stock performance in the US, and the variable of customer acquisition costs.

As discussed in our June newsletter, investors in US online wagering operators are growing impatient with the losses recorded for the sake of gaining market share.

One reason we focus primarily on suppliers over operators is because operators rely heavily on their customer acquisition cost (CAC).

In mature, highly taxed, regulated markets, a handful of operators earn the majority of profits because they have the lowest CAC and the best operational efficiencies.

ONE-Year Performance of Operators with Exposure to US Online Wagering.

Sportsbet take 2

Flutter’s third quarter results demonstrated FanDuel’s (Flutter’s US brand) clear market leadership. It has a 42% gross gaming revenue (GGR) market share in mobile sports betting and 18% market share in igaming.

As shown above, Flutter is the only opera..

November 22, 2022

Industry slams NYT sports betting coverage

On Sunday, the New York Times (NYT) published an article on sports betting lobbying efforts, which has been criticised by industry trade groups and individuals as including “several mischaracterisations”.

Titled “Cigars, Booze, Money: How a Lobbying Blitz Made Sports Betting Ubiquitous”, the article makes the argument that the gambling sector “got their way with lawmakers after showering them with donations, gifts and dubious arguments”.

This assertion has been criticised by a number of US-based trade organisations, who pointed to the already stringent regulatory environment and the industry-wide commitments to responsible gaming.

Criticised by trade bodies

In a statement published on LinkedIn, the American Gaming Association (AGA) said that the NYT had made “several mischaracterisations” in the article, and emphasised that there is a high standard for obtaining gaming licences in the US.

“As unapologetic advocates for our industry, the AGA engages with the New York Times and any..

November 18, 2022

Global regulators release joint World Cup statement

Regulators from France, Germany, Portugal, Spain and Great Britain have released a joint statement before the World Cup begins on 20 November, reminding operators to keep responsible gambling and player protection in mind as the tournament runs.

The regulators met in Paris, France on 15 November. L’Autorité Nationale des Jeux (ANJ), the gambling regulator for France, said that the meeting saw a number of key issues being discussed that would affect betting during the World Cup.

“This meeting was an opportunity to address several topics, including the fight against illegal offers and the protection of players and advertising during the World Cup,” read the statement.

“On the latter topic, regulators agreed to commit to working together to closely monitor gambling operators’ compliance with advertising, betting integrity and consumer protection regulations during the World Cup.”

Earlier this month, a number of operators and advertisers signed four charters in France, which committed ..

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Tag: Sports betting regulation