Sports betting – Page 23 – FairOdds Network

December 4, 2024

Las Vegas Strip revenue slides 3% in October for fourth straight YoY decline

October gambling revenue figures released today (4 December) by the Nevada Gaming Control Board (NGCB) showed that the state brought in $1.28 billion (£1 billion/€1.2 billion) in gross gaming revenue (GGR) for the month, a year-over-year decline of just over 2%.

Figures for the Las Vegas Strip were the highlight of the report, but not for good reasons. The Strip’s October GGR total of $692 million was a 3% drop year-over-year. That’s the fourth consecutive month of year-over-year declines for America’s gaming capital, which had its best year ever in 2023. For the fiscal year-to-date, the Strip is down more than 6%.

Strip slot revenue ($428.3 million) was up 5.5%, but table games (-14.5%) were tricky again in October. Baccarat revenue, which has become a boom-or-bust category that spurred records last year, plummeted 23.4% to $68.7 million. The Strip is down 33% on the game in the last three months.

Downtown Las Vegas had the worst month of all the southern Nevada markets. Its GGR..

December 4, 2024

Former poker pro pleads guilty to selling fake wagering advice in New York court

Cory Zeidman, a 63-year-old former professional poker player, today (4 December) pleaded guilty to two counts of mail and wire fraud associated with an illegal gambling scheme. Zeidman faces up to 20 years in prison and $3.6 million (£2.8 million/€3.4 million) in restitution and fines.

According to court records, Zeidman led a fraud ring that sold betting tips via radio ads followed by high-pressure sales. The group used fake names and also purported to have inside information about “dirty” officials, “fixed” games and predetermined outcomes, according to a press release from the US attorney’s office for the Eastern District of New York.

No sentencing date has been set.

Bettors were charged high fees for the service and were told that the information made wagering a low-risk proposition. According to the US attorney’s office, the information was made up or was public information found via internet searches.

“As alleged, Zeidman preyed on individuals who were led to believe he ha..

December 4, 2024

The sports betting graveyard: Key 2024 trend is smaller companies exiting the US

While BetMGM, Caesars Sportsbook, DraftKings, ESPN Bet, Fanatics and FanDuel continue to grow their customer databases and jockey for market share in sports betting, many of the smaller and often independent platforms have disappeared, leaving consumers with fewer choices.

This story originally ran in the December 2024 issue of GGB Magazine.

This year was the first since sports betting became a states’ rights issue in 2018 in which no state legislature legalised sports betting. Missouri voters did legalise that state in November. Two states – North Carolina and Vermont – launched live wagering, the lowest number since 2018. The only number that continues to rise is the number of wagering platforms downsizing or joining the sports betting graveyard.

Companies like Betr, Sporttrade and Underdog Sports have grown in this environment. Rather than rushing to get licensed and go live in any available market, these companies have thoughtfully and intentionally selected markets in which th..

December 3, 2024

Experts: Legal obstacles stifle Vietnam sports betting

Vietnamese sports bettors gamble billions of dollars a year, but most of the revenue goes to overseas operators. Experts say the market is ripe for development if the government amends a 2017 decree.

Vietnam could grow a lucrative sports betting industry, given more favourable regulations. That was the consensus of business and financial experts at a 28 November seminar, hosted by The Investor and Vietnam’s Association of Foreign Invested Enterprises (VAFIE).

Decree 6: Cumbersome, unclear and ineffective

According to the Tuoi Tre News, the conversation centred on Decree 6, implemented in Vietnam in 2017. The legislation ostensibly opened the door to legal betting on horse races, greyhound races and international football. It also laid out a framework for sports betting operators.

But speakers at the Hanoi seminar said the rules are vague, prohibitive and out of step with the times.

For gamblers, Decree 6 limits legal gambling to 20 pilot jurisdictions in Vietnam and caps bets at ..

December 3, 2024

UK darts players handed lengthy bans for match-fixing

The UK's Darts Regulation Authority (DRA) yesterday (2 December) banned players Leighton Bennett and Billy Warriner after they were found guilty of and admitted to charges of match-fixing.

Bennett has been suspended from darts for eight years and Warriner 10 years. The British players have also been ordered to pay £8,100 (€9,762/$10,271) each in costs.

The DRA ruling follows an International Betting Integrity Association (IBIA) report for suspicious betting activity released in September 2023. This relates to matches played in the Modus Super Series.

The matches in question saw Bennett play Mindaugas Barauskas and Benjamin Drue-Reus, both on 6 September 2023. Two more games took place on 8 September 2023, with Bennett facing Ryan Harrington and Barauskas for a second time.

Working with the Gambling Commission Sports Betting Intelligence Unit, the DRA launched a full investigation into the matter.

The DRA ruled both players had cases to answer for “serious” breaches of its rul..

December 2, 2024

Miriam Adelson more than quadruples 2022 Texas gambling contributions

The Adelson family, now majority owners of the Dallas Mavericks, have heavily backed gambling legislation in Texas over the last several sessions. But despite all the dollars put in, Texas politicians have not meaningfully considered the issue.

The Texas legislature meets only in odd-numbered years. During the 2023 session, the house approved a bill that would have allowed for statewide mobile betting controlled by the state’s professional sports teams and other sports entities, with the tax rate set at 10%. A destination resorts bill that included casinos was withdrawn from the house floor without a vote. Besides that, Texas’ lieutenant governor, Dan Patrick, said at that time he wouldn’t call for a vote on legal wagering.

He tweeted, “I’ve said repeatedly there is little to no support for expanding gaming from senate GOP. I polled members this week. Nothing changed. The senate must focus on issues voters expect us to pass. We don’t waste time on bills without overwhelming GOP sup..

December 2, 2024

Argentina chamber of deputies approves bill to ban online betting ads

The chamber of deputies in Argentina has approved a bill to ban online betting advertising, with the hopes it will protect children from gambling harms.

In a special session on 27 November, the chamber passed the federal bill by 139 votes to 36. There was also 59 abstentions from the vote in Argentina.

The bill will now go to the senate, which will take into account the views of stakeholders such as Argentinian football clubs before deciding whether to progress the bill further.

Article 8 of the bill bans advertising, promotion and sponsorship of online betting on all communication platforms. This includes digital platforms like social media and outdoor spaces such as public roads.

Additionally, Article 8 prohibits online operators from sponsoring sports teams or athletes. This also includes the use of the company’s name to identify sporting venues such as stadiums or training centres. The promotion of online gambling on signage at such venues would also be banned.

Influencer adv..

December 2, 2024

Star Sports names former MP Davies as new chairman

UK bookmaking group Star Sports has announced the appointment of former Conservative MP Sir Philip Davies as its new chairman.

Davies is replacing Russ Wiseman, who recently stepped down as chair of Star Sports for personal reasons.

Davies served as the Conservative MP for Shipley in West Yorkshire for almost 20 years. He was first elected in May 2005 and remained as MP until this year’s general election, where he lost out to Labour’s Anna Dixon.

“I am delighted to be joining Star Sports at such an exciting time in the company’s history,” Davies said. “I have been lucky enough to get to know founder Ben Keith over the last few years. I have huge admiration for the business that he has built.”

Davies also revealed that he began his working life in his mother’s betting shop: Marilyn Davies Bookmakers.

“I’m hugely looking forward to working closely with Ben and his management team to fulfil the group’s growth strategy and commitment to operating responsibly,” Davies said.

Founder Ke..

December 2, 2024

Ohio sports betting handle exceeds $900 million in October

Consumers in Ohio spent $901.4 million (£711.5 million/€854.8 million) betting on sports in October, the second highest monthly amount since the state launched its legal market in January 2023.

The October total surpasses last year’s $747.7 million by 20.6% and 4.5% higher than $863 million in September. It is second only to $1.11 billion in the opening month of legal betting in Ohio.

Data supplied by the Ohio Casino Control Commission shows online betting handle topped $881.7 million and retail $19.7 million.

Player winnings hit $814.7 million across online and retail while $5.6 million worth of wagers was voided. After also taking off $37.7 million in promotional gaming credits, taxable revenue for October reached $81.5 million.

The monthly revenue figure is 1% above last year’s $80.7 million haul and 67% ahead of $48.8 million in September. Ohio’s record is $209 million, again in the launch month of January 2023.

Online betting generated $80.3 million in taxable revenue and re..

November 29, 2024

LeoVegas launches online sports betting in Germany

LeoVegas Group is expanding its presence in Germany by launching a sports betting offering to run alongside its existing online casino vertical in the country.

Announced today (29 November), the sportsbook will be accessible across all 16 states in Germany. Sports betting will be available on the LeoVegas.de website, which already offers online slots to players in the country.

The operator will promote the new offering via a nationwide marketing campaign that will launch in December. Entitled ‘Thrill Seeker’ this will run across various platforms including TV and affiliates.

LeoVegas has been running online slots under its German gaming licence that was issued in March last year. The licence was issued to LVSports Limited, an entity of LeoVegas Group.

“Launching our sportsbook offering in Germany is a very exciting step for LeoVegas Group as we continue to grow and strengthen our foothold,” LeoVegas Group CEO Gustaf Hagman said.

“Germany is one of Europe’s great sports powerhouses..

November 28, 2024

Virginia sports betting handle hits new record in October, weak hold hits revenue

Sports betting handle in Virginia hit a record $696.1 million (£549.3 million/€659.6 million) in October.

However a year-on-year decline in adjusted gross revenue suggests evidence of player-friendly results in the NFL hitting operators’ performance is emerging.

Handle for October was 21.8% higher than the $571.4 million wagered in Victoria during the same month last year. It also surpasses September’s $622.1 million handle by 11.9%, the Virginia Lottery reports.

The existing monthly record in Virginia was $652.9 million, which was set in January this year. October’s new record surpassed this by 6.6%.

Online betting accounted for $692.2 million of all sports wagering activity in October, with retail’s contribution at $3.9 million.

Hold reaches 7.04% in October

Adjusted gross revenue after player winnings came to $49.0 million. The total falls 13.1% short of October 2023 and 25.6% behind September’s $65.9 million.

Of that total $48.8 million in AGR came from online betting, wh..

November 28, 2024

Aposta Ganha eyes 10% market share as one of Brazil’s first betting licensees

Aposta Ganha expects to take up to 10% market share in Brazil's licensed betting market after securing one of the first licences and gaining early mover advantage.

Aposta Ganha announced on Tuesday (26 November) that its betting licence had been approved by the Secretariat of Prizes and Bets (SPA), paving the way for the operator to enter the legal betting market in Brazil in January.

As a local operator, the company takes pride in being one of the first to receive licence approval in its home country.

Aposta Ganha CCO Hugo Baungartner describes it as a “big, big step”, one that reinforces the operators’ belief that the soon-to-be regulated sector in Brazil will support and protect players and stakeholders.

“We are really happy to get this and this whole thing just comes to reconfirm that we are a group in Brazil that really believes in the market, being a Brazilian group and always, always trying to make the best things for Brazil as well and that’s why we were on the one ..

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Tag: Sports betting