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DraftKings shares rocket after reported “large new partnership” with ESPN
October 7, 2022

DraftKings shares rocket after reported “large new partnership” with ESPN

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US-based sports betting operator DraftKings’ shares rose 14% to $18.26 in after-hours trading following report of “large new partnership” with Disney’s sports broadcasting arm ESPN.

Business news agency Bloomberg broke the story overnight, reporting that “people familiar with the matter” had indicated the existence of such a partnership.

In the wake of the story, DraftKings’ shares briefly jumped 14% to $18.26 per share in after-hours trading, up from $16.04 before the news broke. Since the after-hours peak, the share price has settled down to $17.45 per share, 8.79% above close.

ESPN speculation

The deal would be Disney’s most significant foray into the rapidly growing US sports betting market, after years of speculation, which have only increased in recent months.

In November 2021, CEO Bob Chapek hinted at the business’ interest during its fourth quarter earnings call. On that occasion Chapek called ESPN the “perfect platform” for sports betting.

“We have done substantial res..

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Entain to promote online betting brands at NSW hotels in new deal
October 6, 2022

Entain to promote online betting brands at NSW hotels in new deal

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Global gambling giant Entain has agreed a new deal with the Australian Hotels Association (AHA), allowing it to promote its online betting brands Neds and Ladbrokes at New South Wales hotels.

The agreement comes despite hotels in the state having an existing exclusivity deal with Tabcorp, the national totalisator board.

As a result, the deal will not involve any Entain wagering terminals, or hotel staff accepting or taking commission for bets. Instead, Ladbrokes and Neds will simply be advertised at these venues.

“For decades now, many NSW hotels have operated PubTABs for Tabcorp at a significant loss – primarily due to high Sky Channel and EBT (betting terminal) fees,” AHA NSW CEO John Whelan said. “In-country NSW it’s even worse, with the majority of country pubs currently running their PubTAB at a loss.

“Today’s partnership with a world leader in Entain will finally give NSW hotels competition and choice.”

An evolution?

Entertain Australia chief executive Dean Shannon said th..

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ATG chief slams bonuses as “embarrassing”
October 6, 2022

ATG chief slams bonuses as “embarrassing”

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Hasse Lord Skarplöth, CEO of Swedish state-affiliated horse racing operator ATG, has said that bonuses are “embarrassing” and “drive gambling addiction” in a blistering critique of the common industry practice.

Bonuses are the practice of offering free or extra bets to consumers in order to attract or retain players to their platforms; with the method sometimes coming under criticism as an inducement that helps contribute to negative social responsibility outcomes.

Sweden has a stringent bonus regime, only allowing operators to offer one bonus per player at sign-up, worth no more than SEK100. This has been criticised by the Swedish Moderate Party – which have called for the rules to be reformed:

Hasse Lord Skarplöth

“This would make it easier for gaming companies to retain customers in the licensed market and have long-term relationships with the players, both of which increase consumer protection,” said the party.

Much of the industry has also opposed the bonus ban. However, as ..

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Genius Sports launches in-play same-game parlay tool
October 5, 2022

Genius Sports launches in-play same-game parlay tool

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Sports data and technology business Genius Sports has announced the launch of a new in-play same-game parlay betting tool for online sportsbooks.

In-Play MultiBet will allow players to wager on multiple events within the same game while a match is taking place. This, Genius Sports said, could include customers placing new bets after each goal or touchdown and during intervals.

“Combining same game parlays with the unstoppable growth of in-play betting is a breakthrough innovation for us and our partners,” Genius Sports’ chief commercial officer Jack Davison said.

The tool will be available in time for betting on the 2022 Fifa World Cup, the national team football tournament that is scheduled to kick off in Qatar next month.

“Starting with the biggest sports event of the year, the Fifa World Cup, InPlay MultiBet will enable our partners to unlock bigger margins and drive engagement between key match events and breaks,” Davison added.

In-Play MultiBet will also run across football’..

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Ontario regulator to take action against unlicensed operators from 31 October
October 5, 2022

Ontario regulator to take action against unlicensed operators from 31 October

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The Alcohol and Gaming Commission of Ontario (AGCO) has made changes to its Registrar’s Standards for Internet Gaming, meaning unlicensed operators must now exit or face “appropriate regulatory action” and risk having future applications rejected.

The updated standards, the AGCO said, will support the province’s goal of creating a safer, competitive and well-regulated igaming market for the people of Ontario.

The most significant change comes to standard 1.22. Under the new rules, the transition period for unregulated igaming operators and gambling-related suppliers will end. The process was intended to allow those within the unlicensed space to move into the regulated market without causing significant interruption to their Ontario customer base.

However, the new standard establishes that operators and suppliers active in the unregulated market, or have agreements and arrangements with those in the unregulated area, must end their activities here to avoid jeopardising their eligibi..

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Smarkets-owned SBK launches in Indiana
October 4, 2022

Smarkets-owned SBK launches in Indiana

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SBK, a sportsbook app developed by betting exchange Smarkets, has launched in Indiana after gaining approval from the state’s Gaming Commission.

This is the second state the app has launched in, after debuting in Colorado in 2020 through a deal with Full House Resorts.

With all online operators in the state needing a land-based partner for market access, SBK will operate using Full House Resorts’ sports betting licence for the Rising Star casino in Indiana.

Read the full story on iGB North America

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Elys and Grand Central approved for second retail sportsbook in DC
October 4, 2022

Elys and Grand Central approved for second retail sportsbook in DC

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Elys Game Technology has secured approval to open a second retail sportsbook location in Washington DC through an expanded partnership with the Grand Central Restaurant and Sportsbook.

The specific location of the new sportsbook has not yet been disclosed, while any opening remains subject to approval by the DC Department of Small & Local Business Development (DSLBD) and DC Office of Lottery and Gaming (DCOLG).

Elys and Grand Central opened their first joint sportsbook in DC exactly one year ago today (4 October), with the facility at Grand Central Restaurant and Sportsbook being the first at a bar not to be operated by the state lottery’s Gambet brand.

This came after Grand Central and Elys were issued a Class B operator licence by the DCOLG for the venture.

“We are extremely pleased with the strong performance of this first location in the Adams Morgan district of DC, as illustrated by the continuous growth in betting handle,” Elys executive chairman Michele Ciavarella said. “Giv..

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MaximBet continues US expansion with Indiana launch
October 3, 2022

MaximBet continues US expansion with Indiana launch

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Carousel Group-operated MaximBet has gone live in a second US state by launching in Indiana.

The brand will operate online gambling in Indiana using technology from Kambi Group and White Hat Gaming. MaximBet will leverage Kambi’s betting solutions, while its White Hat Gaming partnership covers a full-service online gaming platform and PAM solution, including proprietary technology such as in-house cashier and traveling wallet.

“We’re unwavering in our commitment to bring sports fans the greatest sports betting experience in the world, and that starts with premium content and a world-class betting environment,” MaximBet founder and chief executive Daniel Graetzer said.

Graetzer added that the launch in Indiana sets the path for expansion in other states including Iowa, New Jersey, Pennsylvania and Ohio, as well in the Canadian province of Ontario.

This will be made possible via Carousel Group’s partnership with Caesars Entertainment, a 10-year deal under which MaximBet can rapidly s..

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Virginia halts sports betting handle decline in August as spending hits $284.7m
October 3, 2022

Virginia halts sports betting handle decline in August as spending hits $284.7m

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Consumers in Virginia wagered $284.7m (£254.2m/€291.2m) on sports during August, preventing a fifth straight month of handle decline in the US state.

The monthly total was 55.8% higher than $182.7m in August 2021 and also 7.0% up from $266.0m in July of this year, which was the fourth consecutive month in which consumer spending had fallen.

Adjusted gross gaming revenue, which is defined as total bets minus winnings, bonuses and promotions and other authorised deductions, was also up by 260.9% from $8.7m in August 2021 to $31.4m this year.

This figure, the Virginia Lottery said, was also 46.7% more than $21.4m in July this year.

Consumers in Virginia won $247.7m from sports betting during the month, while $1.1m in bonuses and promotions were issued to players. In addition, the Virginia Lottery accounted for a further $4.24m in other deductions.

Total tax collected from sports betting activity in August was $4.5m, with $4.4m allocated to the General Fund Allocation and $111,853 the..

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