Sports Betting News Archives - Page 62 of 67

Bet365 revenue steady in 2020-21 despite in-play betting decline

Bet365 has reported revenue of £2.81bn (€3.39bn/$3.76bn) in the full year ended March 2021, largely even with its 2020 revenue, as growth in gaming helped offset a pandemic-related drop in in-play betting volume.

This was a slight rise of 0.2% from Bet365’s full year 2019-20 results, due to the pandemic effectively ceasing live sports for at least half of the year.

Sports and gaming accounted for a grand majority of the revenue, totaling at £2.77bn.

While the operator did not mention how much revenue came from each aspect of that vertical, it said that gaming rose 8%, offsetting lower sports revenue. In-play share made up 68% of the sports revenue, falling from 75% in 2020.

Total wagers on sports were down by 13%, the second consecutive year of declining stakes.

Football club and facilities revenue, from Bet365 Group-owned Stoke City FC, came to £29.3m.

Sports and gaming also incurred all direct costs, at £489.8m. This left the total gross profit at £2.32bn, down 3% year-on-year..

March 3, 2022

Elys scores extension to sportsbook partnership with New Mexico’s Isleta

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Interactive gaming and sports betting technology business Elys Game Technology has signed an extension to its sportsbook partnership with the Isleta Resort and Casino in Albuquerque, New Mexico.

Under the deal, Elys’ USBookmaking betting technology subsidiary will continue to provide sports wagering services and solutions to the casino.

This includes a series of self-service kiosks and in-person ticket counters located throughout the casino property.

Customers at the Isleta can place a wide range of bets on competitions such as the National Football League, National Basketball Association and Major League Baseball.

“We are very pleased to continue our relationship with Isleta and to provide the highest quality sportsbook performance and service commitment to the casino and its customers,” USBookmaking’s director of operations John Salerno said.

“We remain very confident about our growing opportunities and relationships for sports wagering in the tribal gaming sector as our North A..

March 2, 2022

Colorado sports betting handle reaches record $573.7m in January

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Consumers in Colorado wagered a record $573.7m (£430.6m/€516.7m) on sports in January, while revenue for the month amounted to $34.6m.

The amount spent by players easily beat the previous record of $491.5m set in October of 2021 by 16.7%, while it was also 75.5% higher than in January last year and 24.3% up from $461.4m in December 2021.

Online wagers in January amounted to $567.1m, whereas in contrast, just $6.6m was bet at retail sportsbooks across the state, figures published by the Colorado Department of Revenue showed.

Gross gaming revenue from sports betting in the month reached $34.6m, which was 49.8% higher than $23.1m in January 2021 and 40.1% more than $24.7m in December 2021 but fell short of the record $36.8m set in October last year by 6.0%.

Online betting accounted for $34.2m in total revenue, while the remaining $437,090 came from retail wagering facilities.

Basketball was the most popular sports to wager on, attracting $163.6m in total bets during the month, ahead ..

March 1, 2022

Aspire gears up for Dutch launch after receiving certification

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Aspire Global has received full certification to operate in the Netherlands, which will see it roll out its player account management platform solution, sportsbook and casino games throughout the country.

The certification will allow Aspire to launch through already-agreed partnerships with operators in the country.

Last year Aspire’s Pariplay platform signed a deal with Holland Casino, one of ten operators to receive a licence from Dutch regulator de Kansspelautoriteit. Under the deal, Pariplay would supply its proprietary games to Holland Casino.

In January Aspire agreed to a deal that will see it make BoyleSports, Ireland’s largest independent bookmaker, live in the Netherlands.

The deal, which will take effect upon Aspire’s entry into the Netherlands, will mean Aspire will provide its full turnkey solutions to BoyleSports through Aspire’s sportsbook Btobet.

“The newly regulated Dutch market is growing quickly and one of Europe’s most appealing igaming markets,” said Tsachi Mai..

March 1, 2022

Flutter aims to use its scale to overcome short-term challenges

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Online gaming behemoth Flutter remains confident that its unmatched scale will help it make long-term decisions in the UK, US and mainland Europe, as chief executive Peter Jackson and chief financial officer Jonathan Hill revealed on the operator's 2021 earnings call.

The operator revealed in its 2021 results that it struggled in some of its international markets, where Pokerstars leads its offering. In Germany, terms of the country’s Fourth State Treaty on Gambling allowed online casino nationwide for the first time but with strict conditions and high taxes, while in the Netherlands, operators that did not receive a licence were required to block all Dutch customers. Last year, the business agreed to acquire Tombola, which does hold a Dutch licence.

While these struggles impacted business in 2021, Hill said that the scale of the Flutter business meant that it could afford to work in difficult conditions.

“One of the benefits of having a portfolio is, just because international..

March 1, 2022

BlueBet slips to loss despite revenue growth in H1

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Australian mobile betting operator BlueBet Holdings reported a net loss of AU$761,000 (£412,752/€493,510/US$553,968) for the first half of its 2022 financial year, despite experiencing a 72.4% year-on-year increase in gross revenue.

Gross revenue for the six months to 31 December 2021 reached $33.1m, up from $19.2m in the previous year, while wagering revenue – net win from players who placed losing bets, minus winnings and promotional costs – jumped 68.8% to $26.0m.

Turnover was up 20.8% to $264.5m, with growth across all product offerings. Thoroughbred turnover hiked 59.5% to $136.9m, greyhound turnover 61.9% to $72.7m, harness racing turnover 61.1% to $24.3m and other sports turnover 63.0% to $30.6m.

BlueBet noted that 66% of all turnover came from its mobile platforms, including iPhone and Android offerings, while the remaining 44% was attributed to website and call centre activity.

The operator was also helped by a 46.5% year-on-year increase in the number of active customers,..

February 25, 2022

Connecticut online gaming revenue reaches $18.8m in January

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Online gaming and in Connecticut generated net gaming revenue of $18.8m in January, 15.6% higher than the net revenue recorded in December 2021.

This revenue was after promotions, which came to $3.6m. Before promotions the total was $22.4m.

Out of the $18.8m in revenue, the Mashantucket Pequot Tribe brought in $11.1m and the Mohegan Tribe the remaining $7.7m.

Players staked $780.0m on online gaming, a fall of 4.2% from December.

The Mashantucket Pequot Tribe’s Foxwoods Resort Casino saw the most staked, at $502.5m- a decline of 4% month-on-month. Customers staked the second highest amount with Mohegan Digital, hitting $277m. Mobile-on-premise stakes at the Mashantucket Pequot Tribe’s Foxwoods Resort Casino – mobile gaming that took place at the casino itself – made up the remaining $440,460.

Player winnings topped $757.3m, down 4.6% month-on-month, with the highest amount – $488.6m – coming from Mashantucket Pequot Tribe’s Foxwoods Resort Casino.

Aa total of $3.3m was paid to the..

February 25, 2022

Caesars announces sports betting partnership with Cleveland Cavaliers

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Caesars Entertainment has signed a multi-year agreement which will see it named as the official sportsbook partner of NBA side the Cleveland Cavaliers.

The deal will also see Caesars named as the official casino partner for the team.

Plans are also in place to open a retail sportsbook at Rocket Mortgage FieldHouse – home of the Cavaliers – pending regulatory approval.

The 10,355 square foot sportsbook will also utilise official Cleveland Cavaliers logos and marks, broadcast and digital content, in addition to TV-visible in-game signage.

The Caveliers deal represents Caesars’ latest sports team agreement. The company has partnered with the NFL’s Buffalo Bills, Indianapolis Colts, and Baltimore Ravens, in addition to sponsoring the NHL’s Washington Capitals.

Chris Holdren, co-president of Caesars Digital, said: “We’re ready to welcome Ohio sports fans into the Caesars Sportsbook Empire, while also making history with our second sportsbook at an NBA arena.

“Building upon our alre..

February 25, 2022

CDI to drop online betting and igaming businesses in 2022

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Churchill Downs Incorporated (CDI) has revealed that it will abandon its online sports betting and online gaming business within the next 6 months, in what it described as the “next step forward” for the company.

The news came as part of an earnings call for CDI’s 2021 financial results. Its online product TwinSpires – which includes horse racing as well as sports betting and igaming – brought in $431.7m in total revenue for the year. However, TwinSpires also accounted for $325.4m in costs.

Bill Carstanjen, CEO of CDI, explained that the company’s sports betting and online gaming business had not performed as expected, emphasising the competitiveness of the space.

“When the US Supreme Court overturned the federal ban on sports betting in May of 2018, we had high hopes for the potential to build a profitable business in this space,” said Carstanjen. “Our initial strategy was to leverage a variable cost technology model and be disciplined in our marketing spend with a focus on bottom ..

February 24, 2022

Kentucky lawmaker begins push for legal betting, fantasy and poker

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A bill to legalise sports betting, fantasy sports and online poker in Kentucky has been introduced to the state's Senate.

Senate Bill 213, authored by Senator David Yates, has been referred to the Committee on Committees, and it outlines the operation of online and in-person sports wagering, fantasy contests and online poker.

Sports betting licencees will be subject to a 9.75% tax rate on adjusted gross revenue from retail bets, while online bets will be taxed at 14.25%.

Wagering will only be permitted in the state at licensed racetracks, professional sports venues or on a mobile app, for which in-person registration will be mandatory.

This registration requirement will then lift from 2024, when players aged 18 and above will be able to download an app anywhere.

Tracks and venues are only allowed to partner with one provider at a time, using a format available in both a retail and online capacity.

For fantasy sports operators, the registration fee has been set at $5,000,..

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