Month: May 2022

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Delaware sports betting handle slips to nine-month low in April
May 6, 2022

Delaware sports betting handle slips to nine-month low in April

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Player spending on sports betting in Delaware fell to a nine-month low in April, with the state’s handle falling to its shortest total since July of last year.

Consumers wagered a total of $4.2m (£3.4m/€4.0m) on sports during the four weeks to 24 April, down 23.6% from $5.5m in the same month in 2021 and also 19.2% down from $5.2m in March this year.

This total, figures published by the Delaware Lottery show, was the lowest monthly amount since $4.1m was bet in July 2021.

Revenue for April reached $314,336, which was 64.5% lower than $895,299 in July last year and 43.2% down from $553,465 in March 2022.

Delaware Park retained top spot in the market, posting $151,674 in revenue from $2.1m in wagers.

Dover Downs placed second with $95,059 in revenue and a handle of $1.2m, while the Harrington Raceway followed in third, reporting $67,603 in revenue from $853,005 in wagers.

Players won a total of $3.8m from sports betting during the month, placing 142,465 bets in the process.

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Californians to vote on legalising online betting this year
May 5, 2022

Californians to vote on legalising online betting this year

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A proposition to allow online sports betting in California – but with licence fees of up to $100m – will to appear on the state’s ballot this November.

Flutter chief executive Peter Jackson confirmed that the measure – backed by Flutter’s FanDuel brand, as well as DraftKings and BetMGM – was set to appear on the ballot this November, having gained more than the required 997,139 signatures.

“We’re very excited abut the Californian situation,” he said. “Clearly getting to this stage was not straightforward but we’re very, very happy to be on the ballot.”

These signatures must still be verified, though the measure reportedly has enough signatures that this is expected to be a formality. If it appears on the ballot and is approved by a majority of voters, it will become law.

The measure is titled the California Legalize Sports Betting and Revenue for Homelessness Prevention Fund Initiative (2022), as 85% of tax proceeds will gowards reducing homelessness. Sports wagering will be taxed ..

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Genius partners Brazilian operator Betsul
May 5, 2022

Genius partners Brazilian operator Betsul

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Genius agrees official data, trading and live streaming deal with Betsul to power Brazilian product.

As part of the deal, Genius Sports will provide Betsul with the operatons of the entire sportsbook operations, including a full suite of data-driven outsourced tools across its PreMatch, LiveTrading and Risk streaming solutions.

The partnership includes Genius’ Sports’ portfolio of Brazilian content, which live streams football, basketball, volleyball, futsal and beach volleyball competitions through official partnerships with the Brazilian Basketball League (LNB), Brazilian Volleyball Confederation (CBV) and the Liga Nacional de Futsal.

The company’s premium global partnerships will also give Betsul access to the English Premier League, Liga MX, the Argentine Primera Division and Dimayor.

“The Brazilian sports betting market is poised for explosive growth under a transparent and competitive regulatory system,” said Fernando Martinez, head of commercial in LaTam for Genius Sports.
..

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New shareholder Corvex urges Kindred board to consider sale
May 4, 2022

New shareholder Corvex urges Kindred board to consider sale

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Investment fund Corvex Management has urged Kindred’s board to look into sale or merger opportunities, soon after announcing that the fund now owns 10% of the operator.

The business led by Keith Arlyn Meister issued a statement last week disclosing that it now owns more than 10% of Kindred’s shares and voting rights, in accordance with Swedish regulations.

Now the New York-based hedge fund has outlined what it sees as the best goals for Kindred’s future.

“We are excited to be large shareholders of Kindred. To date, we have had constructive conversations with both the chairman of the board and senior management of Kindred,” Corvex said. “We believe Kindred has built a strategic position in the rapidly growing global online gaming space.

Corvex outlined that the business should retain an advisor to look at possible sale opportunities.

“Given recent developments, we believe the Kindred Board should immediately retain a leading, global financial advisor to evaluate strategic alternati..

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Feeding the marketing furnace
May 4, 2022

Feeding the marketing furnace

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As Q1 results season gets underway, US sportsbook operators are increasingly looking to refine their customer acquisition approaches.

In the US, sports betting is everywhere. Morning commute billboards, YouTube interstitials, TV commercials, influencer posts…marketing channels are saturated with imagery and copy encouraging new bettors to join the fray.

It should be no surprise, considering the ongoing mass expansion of sportsbooks and online betting sites in the US. With every newly regulated market comes new advertising and marketing campaigns.

Ad channels are brimming with attempts to bring sports fans, curious bettors, or other newcomers into the fold. It takes a careful, well-researched touch to succeed in marketing a sports betting site, especially in the piecemeal and sometimes chaotic US geographies with varying regulatory and legal requirements.

By this point, many big-name operators have staked their claim and continue to market to potential long-term customers. There’s s..

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Brazil publishes sports betting rules
May 3, 2022

Brazil publishes sports betting rules

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Brazil’s Secretariat of Evaluation, Planning, Energy and Lottery (SECAP) has published its rules for sports betting in the country, which include a BRL22.2m (£3.6m/€4.2m/$4.4m) licence fee.

The Ministry of the Economy will act as the regulator and will establish a deadline – which will fall within the next six months – for operators already doing business in Brazil to comply with these rules.

There will be no limit on the number of licences that can be issued, with licences lasting five years. However, operators must pay a BRL22.2m (£3.6m/€4.2m/$4.4m) licence fee.

In addition, operators based abroad must set up a subsidiary in Brazil and must have “sufficient capital and economic and financial capacity” to operate.

The bill said whether a business’ financial capacity was “sufficient” would be determined by the relationship between its share capital and the volume of bets it takes, rather than setting a specific minimum amount of capital.

Operators will be permitted to offer bets o..

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Mohegan to launch Kambi-powered PlayFallsview sportsbook in Ontario
May 3, 2022

Mohegan to launch Kambi-powered PlayFallsview sportsbook in Ontario

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Kambi will provide Mohegan Gaming and Entertainment’s PlayFallsview brand with its online sportsbook technology when it launches in Ontario.

Mohegan will launch a betting and gaming brand in Ontario, named after its Fallsview casino resort. The sportsbook for this brand will be provided by Kambi, featuring its ice hockey and bet builder products.

“The Canadian market, and Ontario in particular, is full of potential for Kambi and our partners so I am pleased to have agreed this partnership with Mohegan and its Fallsview online mobile brand.” Kambi chief executive Kristian Nylén said. “I look forward to the combination of our industry-leading mobile sportsbook and the prominent Fallsview name as together we bring players in Ontario all the excitement of single and in-game wagering along with the unrivalled bet combinability our sportsbook offers.”

Rich Roberts, president of Mohegan Digital for Mohegan Gaming and Entertainment, said he was excited to launch an online product outside of..

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