Sportsbook – FairOdds Network

April 1, 2025

In rare appearance, Genetski, Robins sing tribal praises at IGA

Nearly three years removed from a disastrous attempt to bring sports betting to California, the heads of FanDuel and DraftKings made a rare public appearance on Monday (31 March) in efforts to curry favour with tribal gaming stakeholders.

FanDuel president Christian Genetski joined DraftKings co-founder and CEO Jason Robins to discuss their companies’ tribal gaming strategies with Victor Rocha, conference chair of the Indian Gaming Association (IGA). The trio headlined the first day of the Indian Gaming Tradeshow and Convention in San Diego.

On paper, the conversation was about tribes and operators “structuring successful partnerships” to ensure “long-term sustainability”. But the packed crowd of industry representatives knew that the backdrop of the conversation was much more controversial.

A coalition of commercial bookmakers led by FanDuel and DraftKings in 2022 spent hundreds of millions on Prop 27, which would have legalised mobile sports betting in California. Tribes also put..

October 22, 2024

How are personalisation and technology driving NBA in-play betting?

The NBA regular season tips off on Tuesday (22 October) with the reigning champion Boston Celtics hosting the New York Knicks. There’s sure to be fast-paced excitement on the court and operators will look to tap into that with their in-play offerings, which have surged in popularity of late.

In June the provider Simplebet, which specialises in micromarket pricing, revealed it had enjoyed a third straight NBA season of growth (up 75% year-on-year), with nearly 13 million in-play bets placed during the 2023-24 season.

Around $325m was wagered with operators using Simplebet’s microbetting products, with the company offering 86 unique in-play markets during the NBA post-season.

Following Simplebet’s third season of consecutive growth, DraftKings announced it had reached an agreement to acquire the microbetting specialist.

The landscape of sports betting in the US since the 1992 Professional and Amateur Sports Protection Act (PASPA) was repealed in 2018 has been one of constant evolutio..

September 10, 2024

Waterhouse VC: Why betting can’t survive without sports data

In his latest column, Tom Waterhouse of Waterhouse VC considers the role of sports data and data providers in revolutionising sports betting.
Eighteen years ago, mathematician Clive Humby coined the phrase “data is the new oil”, underscoring the vital role data would play in driving business and innovation. If not as scarce, high-quality data is just as valuable for sports and wagering.

Access depends on securing rights, with rising costs creating natural barriers to entry. AI and machine learning is now being applied to premium sports data to unlock new opportunities for fan engagement, especially in the wagering industry.

Data hasn’t always been as central to sport and wagering as it is today. Before televisions, attending a sporting event was the only way of knowing what really happened. Radio helped, but listeners were still reliant on the commentator’s account. In betting shops, trying to gauge how your bet was faring over shouting and excitement would have been a real challeng..

July 30, 2024

Analysts: Sports wagering calendar gives insight to markets, revenues

The US sports betting calendar is the same every year and handle and revenues typically follow suit. But there are other trends to be gleaned from the cycles as well, analysts said on a webinar on Tuesday (30 July).
The session, entitled “A Year in the Life of Sports Betting”, was presented by Geoff Atkinson and Matt Roob. Atkinson is the marketing research manager for Management Science Associates and Roob is senior vice-president of financial analysis for Spectrum Gaming Capital. Throughout the presentation, the analysts used graphs and data compiled using the Spectrumetrix data service.

Atkinson began the discussion by breaking down graphs from states that report wagering figures for individual sports. The examples included Illinois, Mississippi, Nevada, South Dakota, Oregon and Montana.

Overall, the states showed similar patterns according to the US sports schedule.

Totals are lowest in the summer when baseball is the only major sport in season. Then in the fall, the start o..

July 30, 2024

Insider who tried to wager $100,000 on Alabama baseball sentenced

The Indiana businessman who attempted to wager $100,000 on an Alabama-LSU college baseball game last year was sentenced on Monday (28 July) to eight months in prison and three and a half years of supervised probation.
Bert Neff, who received a text from former Alabama baseball coach Brad Bohanan saying that Alabama had pulled its starting pitcher, walked into an MGM casino in Ohio on 28 April 2023 and attempted to place a $100,000 bet based on the information.

MGM employees refused the bet, but allowed Neff to lay down $15,000 on LSU to win. The attempt to wager $100,000 and the ensuing $15,000 bet were considered suspicious by MGM employees. The bets were quickly flagged and, within days, markets on LSU-Alabama baseball were suspended. Within a week, Bohanan was fired.

Bohanan has not been charged. But the NCAA sanctioned him for 15 years.

Neff, whose son played baseball at Cincinnati when the bet was placed, wasn’t charged for wagering with inside information. Federal authorit..

July 22, 2024

In Macau, most suspects bail out in illegal sports betting case

Prosecutors in Macau have indicted 59 people swept up in a sports betting sting earlier this month. All but two have been released on bail. The illicit operation purportedly reaped millions per week during the recent UEFA Euro 2024 tournament.
The Macau Public Prosecutions Office has indicted 59 people allegedly involved in an online sports betting ring. Two of the defendants remain under pre-trial detention. The rest have been released on bail, with orders not to leave the city.

A total of 93 people were arrested in the 2 July sting in Macau, Hong Kong and Guangdong. Police seized MOP88.4m (£8.5m/€196.2m/US$11m) in cash and froze bank accounts containing MOP22.1m.

The websites, based outside Macau, took bets on football and basketball games. They reportedly generated about MOP72m per week during the recent UEFA Euro 2024 tournament.

Authorities estimate the illegal operation has pulled in more than MOP1.08bn since 2016.

Online gambling is illegal everywhere in China, including M..

July 19, 2024

Bettor perspective? Walters, “Spanky” say US sportsbooks have much to learn

As legal sports betting in the US proceeds in its seventh year, many have expressed concerns about whether the current wagering model is sustainable for the long term.

A panel discussion on Friday (19 July) at the summer meeting of the National Council of Legislators from Gaming States (NCLGS) in Pittsburgh featured views on the subject from legendary sports bettors Billy Walters and Gadoon “Spanky” Kyrollos. Both the legendary Walters, 78, and Kyrollos said sustainability depends on treating sports bettors fairly.

That, they said, means an equal playing field for all customers.

Richard Schuetz, a veteran casino executive, regulator and onetime Las Vegas sportsbook operator, moderated the panel. Schuetz hosted Walters when Schuetz ran the sportsbook at the Stardust.

Transparency, betting limits are concerns

One problem threatening the long-term sustainability of legal sports betting, panelists said, is a lack of knowledgeable operators. “The (legal) industry is new in this country..

July 9, 2024

Survey reveals Betano as most recognisable brand in Brazil

Kaizen Gaming-owned Betano is the most recognisable and trusted betting brand in Brazil, a survey by Env Media has revealed.

Env Media centred its survey on the 20 most popular brands in Brazil, including the likes of Betano, Bet365 and Betfair. The study aimed to establish what operators held the greatest share of voice in Brazil by looking at their visibility and market shares.

This is ahead of the regulated market going live following the December approval of Bill 3,626/2023, legalising sports betting and igaming.

The survey asked 500 active adult bettors which operators they were both aware of and trusted. Betano led the way with 73.4% of respondents stating they recognised and trusted the operator. Bet365, meanwhile, was second, selected by 67.2% of those surveyed.

Brazilian operator Pixbet was third, recognised and trusted by 54.7% of respondents, while Sportingbet and Betnacional were selected by 42.6% and 41.6% respectively.

Betano also held the advantage in Env Media’s s..

July 8, 2024

EveryMatrix buys FSB in all-cash acquisition

EveryMatrix chief executive Ebbe Groes described the supplier’s acquisition of betting and igaming platform provider FSB Technology as its “most ambitious acquisition to date”, giving its OddsMatrix sportsbook division a foothold in the African, Irish and UK markets.

FSB’s full end-to-end turnkey solutions, including its player account management software and horse racing products, will strengthen the OddsMatrix platform and generate “immediate additional revenues and cross-company synergies”, EveryMatrix said.

“This is our most ambitious acquisition to date, by value, size and complexity,” EveryMatrix chief executive Ebbe Groes commented.

FSB Deal ACCELERATES EVERYMATRIx’S regulated market rollout for sports betting, says CEO Ebbe Groes

“This transaction facilitates our long-term growth strategy of entering and growing within a greater number of regulated markets, including the UK, Ireland and Africa, where many FSB clients operate.

“It also allows us to accelerate this process, ..

June 18, 2024

How the sector is tackling competition this sporting summer

A packed sporting schedule means there are plenty of opportunities for gambling companies this summer to engage and target new customers. iGB spoke to a few industry leaders on targeting new betting markets and unique products helping them to stand out from the crowd.

Operators Betfred and Paddy Power and betting engine supplier Kambi are among those looking to capitalise and make significant revenue and customer gains throughout the packed summer sporting schedule, which is certain to excite sports fans.

The Euro 2024 kicked off on Friday and the Copa América starts this week, while the Olympic Games is set to take place in Paris as of 26 July with Wimbledon and the US Open to come in July and August.

The opportunity for the sports betting sector is clear, as more traction from these events will lead to increased activity across betting sites and ultimately more financial gain.

According to French gaming regulator L’Autorité Nationale des Jeux (ANJ), the country could see close t..

April 12, 2024

Feds say Ohtani “considered a victim” and interpreter stole $16m from star for gambling debts

In an affidavit filed in the US District Court for the Central District of California on Thursday (11 April), IRS criminal investigator Chris Seymour revealed that baseball star Shohei Ohtani's former interpreter Ippei Mizuhara fraudulently transferred $16m from the baseball player's account to an illegal bookmaker over the span of 26 months.

According to the affidavit, Mizuhara texted the bookmaker, “Technically I did steal from him. It’s all over for me,” on the day the story first broke.

According to the New York Times, Mizuhara is negotiating for a plea deal.

Throughout the affidavit, Ohtani is referred to as “Victim A” and, in a press conference, US Attorney Martin Estrada said “Mr Ohtani is considered a victim in this case.” Major League Baseball released a statement saying that it “will wait until resolution of the criminal proceeding to determine whether further investigation is warranted”.

Since the story broke 20 March, Ohtani, the two-way Japanese baseball sta..

April 2, 2024

Virginia wagering revenue report: February handle up 26% over last year

Virginians laid down $545.1m in bets in February, a 25.6% increase over the same period in 2023. Sportsbooks paid the state a total of $6.3m in taxes and had a hold of 9.18%.

Sportsbooks are taxed at 15% of adjust gross revenue (AGR). According to the Virginia Lottery wagering revenue report, 11 operators finished the month with “net positive AGR”.

Mobile betting accounted for $540m of the total while bettors wagered a combined $4.9m at retail locations. Promotions and deductions continued to decrease. After one senator proposed a cap on allowing operators to write off deductions in 2023, Virginia’s governor, Glenn Youngkin, went a step further and included a 12-month sunset on promotional deductions in his budget.

In total, four new operators also went live in 2023 in Virginia: Bet365 on 31 January 2023; Betfred on 1 February 2023; Betr on 6 September 2023 and SuperBook on 19 October 2023.

Betr, SuperBook only operators that can deduct promos

Bet365 and Betfred have passed th..

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Tag: Sportsbook