January 2022 - Bookiecity

New York online sports wagers surpass $1bn in opening 16 days

Consumers in New York wagered more than $1.0bn (£744.5m/€895.4m) on online sports betting in the first 16 days since the state’s regulated market launched.

Players spent a total of $1.18bn in the period that the market launched on January 8 to the end of the second full week of legalization on January 23.

The New York State Gaming Commission also reported that gross gaming revenue for the period reached $91.4m.

Caesars Sportsbook, FanDuel, DraftKings and Rush Street Interactive all began operations on opening day on January 8, while BetMGM went live on January 17.

PointsBet also joined the regulated market on January 25, but as this was after the end of the 16-day reporting period, which ended January 23, it was not included in the report.

Caesars Sportsbook was the leading operator in the 16-day period, processing $487.4m in bets and bringing in $41.8m in revenue.

Flutter Entertainment-owned FanDuel ranked second with a $360.0m handle and $24.2m in revenue, then DraftKings with ..

January 28, 2022

Lithuanian Supreme Court rejects offshore operator’s appeal for warning

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Lithuania’s Supreme Administrative Court has rejected an appeal from unlicensed operator Interstorm Curaçao that argued the Gambling Supervisory Authority must warn offshore operators before taking action to shut down their sites.

The regulator issued an order for Interstorm – which operates the SLL365 website for Casino Shangri-La – to stop promoting unlicensed online gambling in Lithuania in May 2020.
However, the operator filed an appeal with the Vilnius Regional Administrative Court that month, arguing that it had not received any warning before the regulator took action.
The court rejected this appeal, noting that there was no requirement for the Gambling Supervisory Authority to warn unlicensed operators.
The operator then took its appeal to the Supreme Administrative Court, but this court agreed with the lower ruling.
The Supreme Administrative Court noted that being able to quickly block sites was a central component in the Supervisory Authority’s powers against online gamblin..

January 28, 2022

DC sports betting revenue slips to 10-month low in December

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Gross gaming revenue from sports betting in Washington DC reached $1.4m (£1.1m/€1.3m) in December 2021, the lowest monthly amount since February of the same year.

Revenue for the month was 48.2% down from $2.7m in December 2020, while the total was also 65.9% lower than the record $4.4m set in November of 2021.

Player spending on sports betting amounted to $19.3m, which was 15.6% higher than in the previous year, but 8.5% down from November.

Gambet, operated by the DC Lottery and powered by Intralot, took top spot with $665,718 in revenue off a handle of $5.0m

Read the full story on iGB North America.

January 28, 2022

PointsBet revenue doubles, but losses also grow, in Q2

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Betting and igaming operator PointsBet’s total revenue doubled year-on-year to $90.4m in the quarter ended 31 December 2021, thanks to US growth and the addition of betting supplier Banach Technology, but losses continued to grow.

The quarter was the second of PointsBet’s 2021-22 financial year.

In total, PointsBet took in sports bets worth AUD$1.33bn in Q2, up 11.1% from the second quarter of 2020-21.
The majority of this total came from Australia, where revenue was up 33.6% to AUD$727.0m.
In the US, meanwhile, revenue was down by 9.2% to AUD$598.9m.

PointsBet revealed that during the quarter it held a 7.4% sports betting market share in the state of Illinois, 5.1% in Michigan, 3.5% in Colorado, 3.1% in New Jersey, 2.8% in Indiana, 2.3% in Iowa and 1.4% in West Virginia.

Gross sports betting revenue grew by 60.4% to AUD$133.8m with strong growth in both major markets. In Australia, the total was up by 22.2% to AUD$92.2m, while US revenue grew more than fivefold to AUD$41.6m, despi..

January 27, 2022

Genius expects positive EBITDA and $340m in revenue for 2022

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Data provider Genius Sports expects revenue to reach $340m and earnings before interest, tax, depreciation and amortisation (EBITDA) of $15m in 2022.

The business announced a number of details about its future outlook in its 2022 investor day today (27 January).

Revenue is set to reach $340m for the year thanks in part to continued growth as 2022 goes on. While revenue for Q1 is projected to be $78m and for Q2 this total is just $68m, the total then rises to $85m in Q3 and $109m in Q4, a busy period that will include both the NFL season and football’s World Cup.

Betting technology, content and services will make up the majority of revenue, bringing in $216m. SPorts technology and services will bring in $49m while projected revenue from media technology and services is $75m.

Like revenue, earnings are also expected to grow as the year goes on. The business expects to be EBITDA negative by $5m in Q1, before recording a total of in $8m in Q2, $9m in Q3 and $3m in Q4.

In 2023, the out..

January 27, 2022

Swedish government scraps deposit cap plans

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Sweden’s government has scrapped plans to impose new restrictions – including a SEK4,000 slots deposit cap – for online casino products.

The Swedish government announced earlier this month plans to reintroduce a number of temporary measures for the gambling sector, including a deposit cap, after a previous SEK5,000 cap had been in place for much of 2020 and 2021.

The cap – alongside other measures such as a SEK100 limit on sign-up bonuses – was set to be made official today (27 January) and come into force on 7 February, but the government instead opted to abandon the plan.

Gustaf Hoffstedt, secretary general of industry association BOS, which met with state secretary Alejandro Firpo earlier today, said the government made the right choice as the cap did not reduce gambling harm.

“It is a wise and well-balanced decision that the government has made,” Hoffstedt said. “Partly based on the general development of the pandemic. Partly, and above all, because precisely these restriction..

January 27, 2022

Bally Sports pens broadcast deal with BetMGM

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Bally Sports, a division of Sinclair Broadcast Group, has entered into a partnership with sports betting and igaming operator BetMGM.

Under the arrangement, Bally Sports will broadcast a new sports betting program – ‘Live on the Line, Powered by BetMGM’ – across its 19 regional sports network brands in the US and the accompanying Bally Sports app.

The program will also appear on Stadium, Sinclair’s 24/7 multi-platform sports network.

Live on the Line, Powered by BetMGM will deliver up-to-date information for the viewers, as well as entertainment-based content for casual fans.

Read the full story on iGB North America.

January 27, 2022

Sands to “wait patiently” for online opportunities

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Robert Goldstein, chief executive of resort operator Las Vegas Sands, said the business would continue to “wait patiently” for opportunities to invest in the online gaming sector, rather than jumping in quickly.

During the operator’s investor call following its 2021 results, UBS analyst Robin Farley noted that the valuations of many online businesses have dipped since Sands first expressed its interest in the sector and asked what this meant for its current plans.

Sands chief executive Rob Goldstein said this decline in sector share prices coincided with a recovery for Sands’ core business.

“I think we have said in the past, we have always been interested in digital and all these interests that’s happening in the market,” he said. “But two things are happening at the same time. Our business, I think, is coming back to a stronger place. I think 2022 finally, especially in Singapore, and I think, as well in Macao, we will see that getting better. Our balance sheet speaks for itself an..

January 26, 2022

Four suppliers join DSWV as first “partner companies”

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Four betting suppliers have joined German betting trade association Deutscher Sportwettenverband (DSWV) as the organisation’s first “partner companies”.

Payment provider Aircash, risk and identity services provider Crif, fintech business Okto and data provider Sportradar will all join DSWV as its first non-operator members as it “opens up to companies from the sports betting value chain”.

“The DSWV and its member companies stand for the legal sports betting market in Germany,” Crif chief executive Frank Schlein said. “Working together in the association to make the market even fairer and safer for customers and providers motivates us to become a partner of the DSWV.”

DSWV President Mathias Dahms said the addition of these businesses would help the entire German sports betting industry speak with a single voice.

“Aircash, Crif, Okto and Sportradar are highly innovative, technology-driven and extremely successful companies with a strong reputation in the sports betting industry,” Dah..

January 26, 2022

Affinity’s DRF launches sportsbook in Iowa

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Affinity Interactive-owned brand Daily Racing Form (DRF) has launched its online sportsbook, DRF Bets, in Iowa.

DRF launched the sportsbook following the success of its free-to-play sports website and sports prediction app that launched in October. Affinity said it is the latest part of its strategy to meet increasing demand in the US sports wagering industry.

The site offers wagers on all approved major US and international sports, with multiple different bet types, including moneyline, points spread, over/under parlays and live/in-game betting.

“The launch of our first sportsbook is a significant event for Affinity Interactive and DRF as we continue our ambitious plans to deliver a world-class, digital sports betting product to sports fans across the US,” said Itay Fisher, chief digital officer at Affinity Interactive.

“The sportsbook website and app launch represent our third major sports product rollout in recent months, and further illustrates our ambition and commitment to p..

Month: January 2022