Sports betting – Page 20 – FairOdds Network

January 3, 2025

Portugal topples online gambling revenue record again in Q3

Online gambling revenue in Portugal hit an all-time-high for the eighth consecutive quarter in Q3, driven by a record performance from the nation's internet casino market.

Gross online gambling revenue in Portugal hit €266.3 million (£220.9 million/$273.8 million) during Q3. This surpasses Q3 of 2023 by 23.7% and the previous quarterly record, set in Q2 2024, by 1.7%.

Online casino revenue hits record €175.1 million

Data from regulator Serviço de Regulação e Inspeção de Jogos (SRIJ) shows this growth was driven by the online casino segment. Here, gross revenue hiked 31.2% year-on-year to an all-time high of €175.1 million. This also surpassed Q2 revenue by 10.5%.

Spending on internet-based casino games hit €4.87 billion in Q3, another new record and a 33.7% increase from 2023, as well as 11.6% higher than Q2.

As has been the case for some time, slots remain by far the online casino game of choice in Portugal. Slots drew 80.4% of all wagers during Q3, ahead of French roulette ..

January 2, 2025

Virginia sets sports betting revenue and handle records in November

Virginia reported record adjusted sports betting gross revenue for the month of November, while handle in Old Dominion also reached an all-time high for the second consecutive month.

Data published this week by the Virginia Lottery shows gross revenue in November 2024 hit $80.6 million (£64.3 million/€77.7 million). This is 121.4% ahead of the same month in 2023 and 64.5% more than October 2024.

The total also surpassed the state’s existing adjusted gross revenue (AGR) record of $67.5 million – set in January 2024 – by 19.4%.

Almost all AGR came from online. During the month, some $79.9 million of all revenue was attributed to online betting, compared to $666,689 in retail revenue.

Player spending in Virginia up to $761.0 million

In terms of how much players spent on sports betting, the monthly handle for November across both online and land-based hit $761 million. This surpasses last year by 19.1%.

November also marks the first time Virginia has surpassed $700 million in betting..

December 31, 2024

DraftKings, Fanatics settle Hermalyn suit

The settlement allows Michael Hermalyn to continue working as VIP president for Fanatics.

A high-profile legal battle between DraftKings and Fanatics Sportsbook is coming to a close. Just before Christmas, the companies reached a settlement in their dispute over executive Michael Hermalyn’s transition from DraftKings to Fanatics.

Reuters reported that the settlement effectively ends the litigation between the parties. It was announced on 22 December and finalised in a filing with the US District Court for the District of Massachusetts. The court dismissed the case with prejudice, which means the issue cannot be legally revisited.

The conflict began earlier this year when Hermalyn, a former senior executive at DraftKings, accepted a position at Fanatics Sportsbook. DraftKings accused Hermalyn of breaching his employment agreement and potentially sharing confidential business strategies and trade secrets with his future employer.

Hermalyn hired to build out VIP base

Fanatics, an eme..

December 31, 2024

Try, try again: 11 US states don’t have legal wagering; at least four are contenders in 2025

It would be fair to say that the gambling industry would consider 2024 an epic fail in regards to legalisation. No US state expanded gambling of any kind, marking the first year since the Professional and Amateur Sports Protection Act fell in 2018 that that happened.

With 2025 on the horizon, hope springs. Seven years after sports betting became a states’ rights issue, eleven US states have not legalised. It seems likely that at least one – Utah – never will. But what about the rest?

Below is a look at prospects in the 10 other states without legal wagering.

Alabama

In 2024, Alabama lawmakers tried a big lift – the legalisation of everything from lottery to casino to sports betting. All in a state with no gambling, other than electronic bingo on Indian land and historic horse racings at pari-mutuel facilities. The state legislature ultimately gutted and then failed to pass any proposals.

So far, no bills have been pre-filed for the legislative session, which is set to run from..

December 24, 2024

Crypto.com launches sports prediction platform in US

The potentially game-changing platform immediately drew a mixed reaction.

Crypto.com has unveiled a groundbreaking – and potentially controversial – product, marking a new era in sports and cryptocurrency integration. The company announced today (23 December) the launch of a sports event trading platform. It is exclusively available to US users through the Crypto.com app.

This offering allows participants to trade predictions on sports event outcomes. At time of launch, the only trading option available on the platform was for the upcoming Super Bowl.

Crypto.com users can make a prediction on which team they think will win the NFL’s championship game. In the app, various teams are listed with their probabilities, giving users easy access to select.

The product’s release aligns with Crypto.com’s commitment of expanding its portfolio of regulated trading products. It is also focused on solidifying its presence in the burgeoning event-driven trading market.

🏈 Predicting the outcome o..

December 23, 2024

Three US gambling bills will die by end of year but three wagering bills pre-filed for 2025

After a year in which no US jurisdiction expanded legal digital sports betting or igaming through the state legislature, lawmakers in Michigan and Ohio tried last-ditch efforts at changes or expansions. And lawmakers in South Carolina and Texas pre-filed betting bills ahead of the 2025 sessions.

When the clock strikes midnight on 31 December, gambling bills in Michigan and Ohio will die. And there is no clear indication that lawmakers in either state will try again in 2025.

On the flip side, lawmakers in South Carolina and Texas pre-filed legal sports betting bills. Those bills are expected to be entertained during the 2025 sessions, although they lack the backing or momentum usually associated with gambling bills that succeed.

In South Carolina, the legislature has dabbled in sports betting, but since the Professional and Amateur Sports Protection Act (PASPA) was overturned in 2018, there’s been no consensus or clear pathway. This time around, the legislature will have a constitu..

December 20, 2024

State of the Union: Digital driver’s licences, latest Bally Bet launch 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.

Ohio casinos now take mobile driver’s licences

The Ohio Casino Control Commission (OCCC) 18 December announced a first. The state’s land-based casinos are now accepting mobile driver’s licences for age and identity verification. Hard Rock Casino Cincinnati, Hollywood Casino Columbus, Hollywood Casino Toledo and JACK Casino Cleveland will take the licences, which Ohioans can add to their Apple wallets. Patrons can show the mobile licence on a phone or Apple watch.

“From a regulatory perspective, accurate, safe and secure identification for entry into Ohio’s casinos is foundational to ensuring the integrity of casino gaming,” Tom Stickrath, OCCC chair, said via press release. “The Ohio Mobile ID leverages cutting-edge technology to provide a simple and secure method for verifying age and identity.”

🚨 New ann..

December 20, 2024

Betano deputy CEO points to localisation and sponsorship as the keys to success in Brazil

Betano looks set to be one of the frontrunners when the legal market launches in Brazil on 1 January 2025, with deputy CEO Aris Dimarakis emphasising the importance of sponsorship and a localised approach.

Legal online betting in Brazil is now less than two weeks away, and operators such as Betano have been jockeying for position to ensure they capitalise on being among the first to enter what will likely be a top-three global gambling market.

Betano was the first to apply for a licence back in May, with the company enjoying early brand awareness advantages due to its sponsorship-heavy strategy.

Making Betano visible across Latin America

Betano sponsored the Copa América football tournament over the summer, while it also sponsors the top-flight league in Brazil, as well as a number of clubs.

Betano’s sponsorship of the copa América afforded the brand huge visibility across latin america

Dimarakis believes this has been crucial to Betano becoming front and centre in the Brazilian..

December 20, 2024

Golfer Penge charged over betting breach

Golf’s DP World Tour has sanctioned English player Marco Penge after he was ruled to have breached the PGA European Tour’s Integrity Programme.

Penge, 26, was found to have placed bets on multiple golf events by an Independent Disciplinary Panel. This, the DP World Tour said, is in direct breach of Regulation 3(a)(i) of the Integrity Programme.

The Tour said Penge did not bet on himself or the progress of tournaments during days when he was participating. As such, the panel ruled that the integrity of such events had not been compromised.

However, as this was still a breach of Tour rules and regulations on betting, it warranted a sanction. As such, Penge has been issued a three-month suspension from golf, with one month suspended for 12 months pending further breaches.

The suspension came into effect on 13 December, meaning Penge cannot compete again until 13 February 2025. In addition, he has been ordered to pay a £2,000 (€2,408/$2,499) fine.

“The panel found that Penge’s immedia..

December 19, 2024

Record sports betting, igaming drive Pennsylvania revenue to all-time high in November

Record monthly revenue from sports betting and igaming in Pennsylvania helped to push overall revenue in the state’s gambling market to an all-time high of $562.4 million (£447.4 million/€543.4 million) in November.

November’s revenue total beat last year by 26.5% and is 13.3% above $496.6 million in Pennsylvania in October of this year. It surpasses the existing record of $554.6 million, set in March, by 1.4%, Pennsylvania Gaming Control Board (PGCB) data shows.

Aside from total market revenue, the stand-out figures from the PGCB data are in reference to sports betting.

Gross revenue reached a record $77.1 million, up 498.4% on last year – in November 2023, operators had a record-low 1.38% hold. The all-time revenue high was $72.5 million, set last December, with the November 2024 total beating this by 6.3%. Of this sum, $71.7 million came from online betting and $5.4 million from retail sportsbooks.

Betting handle in Pennsylvania also hit an all-time high of $935.5 million. Coinc..

December 19, 2024

Bill to ban election betting filed in US congress

The legislative initiative responds to concerns that election betting could lead to the manipulation of results.

Representatives Jamie Raskin and Andrea Salinas today (19 December) introduced the Ban Gambling on Elections Act, a legislative effort to prohibit wagering on US elections. The move addresses growing concerns over the impact of political betting on election integrity and public trust in the democratic process.

This bill, a house counterpart to Senator Jeff Merkley’s legislation, aims to amend the Commodity Exchange Act to explicitly ban election betting.

Raskin emphasised the importance of maintaining public confidence in the electoral system. He described election betting as a practice that reduces democratic participation to a profit-driven gamble. Raskin said democracy requires transparent and trustworthy voting processes. He suggested that election betting creates a system clouded by betting odds and the influence of wagers.

This kind of betting “undermines” democrac..

December 18, 2024

Michigan sets new sports betting and igaming records in November

Michigan operators reported several new records during November, including gross receipts from igaming hitting an all-time high of $226.0 million (£177.9 million/€215.3 million).

Gross internet gaming and sports betting receipts from commercial and tribal operators in Michigan topped $284.3 million in November. This is 35.9% above November last year and 12.1% ahead of October this year, the Michigan Gaming Control Board (MGCB) reported yesterday (17 December).

After accounting for promotional spending, total market adjusted gross receipts for the month was $240.4 million. The figure is 51.9% ahead of last year and 15.3% higher on a month-on-month basis.

Another new igaming record in Michigan

As was the case in the previous month, igaming was a highlight for Michigan operators in November. Gross igaming receipts were 28.9% higher year-on-year and surpassed the existing record of $220.7 million in October by 2.4%.

Adjusted gross receipts from igaming hit $203.3 million, up 28.8% fro..

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Tag: Sports betting