Online sports betting Archives

FansUnite expects to save $7.1m from DragonBet migration

FansUnite Entertainment has reached an agreement with UK-based sportsbook DragonBet to migrate off its Chameleon Gaming platform as part of a strategy to streamline its business operations.

DragonBet will migrate off the white label betting platform on or around 3 September. This is despite the Welsh-facing brand having only joined the platform last year under a deal with FansUnite.

The migration comes after FansUnite in May agreed to sell the Chameleon source code to Betr. Under the deal, Betr is paying a total of $7.4 to take ownership of the platform.

FansUnite said the combined impact of the sale and DragonBet migration will result in approximately $7.1m (£5.6m/€6.6m) in annualised cost savings.

These savings include reductions in salary and selling, general and administrative costs. The business said these will be reflected in its financial results once the wind-up of operations of the Chameleon platform completes.

FansUnite added that it expects to generate positive cash flo..

August 23, 2023

Dazn Bet granted German sports betting licence

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Online sports betting and casino operator Dazn Bet has been authorised to offer sports betting in Germany.

Dazn Bet is owned by sports media streaming service Dazn. It was first formed in April 2022, as part of a partnership with Pragmatic Gaming. It was added to the sports betting section of Germany’s white list.

The operator joins the likes of Jackpot50, 888 and Tipico on the list.

Dazn Bet, which is registered in Malta, will operate under the Daznbet.de domain.

The white list came about with the establishment of Germany’s gambling regulator, Gemeinsamen Glücksspielbehörde der Länder (GGL). The GGL was brought forth by Germany’s Fourth State Treaty on Gambling (GlüNeuRStv), which came into force in July 2021.

Germany’s gambling regulator

The GGL was established in July 2022. It officially took over all tasks from its predecessor, the Saxony-Anhalt State Administration Office, in January 2023.

Its responsibilities range from issuing licences to combatting illegal gambling in..

August 23, 2023

Michigan online gambling revenue tops $176m in July

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Combined online sports betting and casino revenue in Michigan increased 18.8% year-on-year to $176.1m (£138.8m/€162.7m) in July, while the state also reported a month-on-month rise.

Gross receipts were comfortably ahead of $148.2m in July 2022 and also 4.0% more than $169.3m in June this year. The total also halted three consecutive months of decline in Michigan.

Online casino gaming gross receipts reached $153.6m in July, up 21.3% on last year and 1.7% ahead of June’s total.

Gross sports betting receipts were 4.2% higher year-on-year at $22.5m and 23.0% more than in June. This was despite handle falling 10.8% from $225.0m in July 2022 to $200.8m, with spend also 11.9% lower than in June.

July adjusted gross receipts up 17.8%

In terms of adjusted gross receipts, which account for promotional spending, Michigan also reported growth.

Combined igaming and sports betting adjusted gross receipts amounted to $154.6m. This was 17.8% ahead of last year and 5.8% higher than June’s total…

August 23, 2023

Sportradar scores betting data deal with US Soccer

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Sportradar has entered into a global partnership with US Soccer, the national governing body for the sport, covering exclusive rights to betting data and content distribution.

Under the deal, Sportradar becomes US Soccer’s official betting data partner. Sportradar will have exclusive rights to collect, licence and distribute the federation’s official betting and media data.

The agreement enables Sportradar to provide the data to its global network of more than 900 regulated betting operators.

Sportradar also takes exclusive distribution rights for the live AV streaming of US Soccer competitions for betting purposes. This will only be available outside of the US.

The deal covers more than 111 matches per year across US men’s and women’s national team competitions.

Sportradar and US Soccer will also collaborate on the development of bespoke data-driven solutions. This is with the aim of deepening existing fan relationships, attracting and engaging new supporters and increasing oppo..

August 22, 2023

College betting lands Fox Bet with $80,000 New Jersey penalty

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New Jersey’s Division of Gaming Enforcement (DGE) has ordered Fox Bet to pay an $80,000 fine (£62,592/€73,371) for accepting bets on college basketball games taking place in the state.

The DGE filed several complaints against Fox Bet, the sports betting joint venture between Flutter Entertainment and Fox Corporation, for violating the ban on betting on college teams based in the state.

Offences stretch back to 2021, starting with the NCAA basketball game between New Jersey’s Rutgers University and Northwestern University on 13 February 2021. Markets on another game featuring Monmouth University in November that year were also spotted by the regulator.

Fox Bet then admitted two further breaches, for games involving Fairleigh Dickinson and Seton Hall University, in December 2021 and January 2022 respectively.

This amounts to a breach of the New Jersey Casino Control Act, DGE executive director David Rebuck said, ordering the business to pay $80,000 to settle the case.

News of the..

August 22, 2023

How will ESPN Bet carve out its place in the industry?

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The stakes are high for ESPN's long-awaited foray into sports betting. Head of sportsbook Mike Morrison believes the broadcasting behemoth will upend the established industry order.

“There was an inevitability about this,” ESPN’s Mike Morrison says of the sports giant’s move into betting.

Partnering Penn Entertainment to launch ESPN Bet brought years of speculation – and the operator’s partnership with Barstool Sports – to a close. This was momentous at every level.

First, the announcement came as a surprise. Penn’s sportsbook now connects with a vast audience, potentially catapulting the operator’s interactive business to the top tier of operators.

To the general news connoisseur, beloved multimedia behemoth the Walt Disney Company – owner of ESPN – entered the sports betting race.

ESPN Bet: A deal five years in the making

Sports betting is a natural extension for ESPN and speculation over deals with DraftKings and Caesars Entertainment was rife.

Head of sportsbook Morriso..

August 18, 2023

Pennsylvania gambling revenue up 8.9% to $467m in July

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Gambling revenue in Pennsylvania increased 8.9% year-on-year to $467.0m in July, driven by growth across the igaming and sports betting segments.

Monthly revenue in Pennsylvania was ahead of $429.1m in July 2022 and 6.0% higher than $440.5m in June this year.

Retail slots remained the primary source of revenue by some margin, generating a total of $214.7m during the month. This was 0.4% higher than in the previous month. In contrast, retail table games revenue slipped 3.8% to $83.4m.

Turning to igaming and revenue in this market increased by 34.8% year-on-year to $132.9m. This included $94.9m in online slots revenue, up 31.9%, and $35.4m in internet table games revenue, a rise of 48.0%.

Hollywood Casino at Penn National continued to lead this segment with $54.4m in igaming revenue. Valley Forge Casino Resort placed a distant second on $29.2m, then Rivers Casino Philadelphia with $26.8m.

Pennsylvania July sports betting revenue hits $32.1m

Elsewhere, there was also an increase in ..

August 17, 2023

Impairments push Rank Group to FY loss despite land-based recovery

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Rank Group posted a 5.9% increase in revenue to £681.9m (€798.0m/$868.1m) in its 2022-23 financial year, though increased impairment costs led to a statutory net loss.

The operator reported year-on-year growth across all operating segments in the 12 months to 30 June. This included the Rank-owned Grosvenor, Mecca and Enracha land-based businesses, which endured a challenging few years during the pandemic.

There was also notable growth within Rank’s digital business, with revenue rising 10.4% to reach £202.9m.

However, higher impairment charges, together with increased operating costs, meant the business posted a net loss.

O’Reilly believes economic pressures are easing

Chief executive John O’Reilly acknowledged the higher costs during his evaluation of the FY performance. However, he said with certain cost now stabilising and inflation easing, this will allow for revenue and profit growth moving forward.

After Covid and economic headwinds, rank is positioned to drive profit and..

August 16, 2023

iGB pens strategic partnership with Glücksspielwesen.de

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iGB has entered into a strategic partnership with Glücksspielwesen.de, the gambling-focused arm of Germany’s monthly news title for public servants, Behörden Spiegel.

Under the agreement, iGB will leverage its audience to connect the gambling industry with Glücksspielwesen’s network of policy analysts, advisers and politicians.

iGB will work with Glücksspielwesen on joint activations including content initiatives such as webinars. The deal also covers event support, with the aim of bringing together gaming operators and suppliers with Germany’s political classes.

The partnership comes in the wake of Germany’s reregulation of gambling. Earlier this year, the country welcomed Gemeinsamen Glücksspielbehörde der Länder (GGL) as its new federal regulator to oversee the market.

Creating a forum for engagement

“Clarion Gaming, the parent company of iGB, is clearly the champion of information in the gaming and gambling industry,” Behörden Spiegel senior consultant Robert Hess said. “Glüc..

August 16, 2023

Online growth drives US gaming revenue to record $16.1bn

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US commercial gambling revenue reached a Q2 record of $16.07bn, the 10th consecutive quarter of growth, according to the American Gaming Association (AGA).

This represented an 8.1% increase from the total US gaming revenue recorded in Q2 2022 and is the second-highest grossing quarter in industry history, with only Q1 this year reporting a higher figure.

Overall, the US gambling industry generated $32.71bn in commercial gaming revenue for the six-month period, up 11.9% from last year.

AGA estimated the results led to $7.28bn in gaming tax revenue for state and local governments, a 12.9% increase from 2022. The trade body highlighted the industry is in on track to contribute the highest total in tax revenue it has done in its history.

“While commercial gaming is on track for an unprecedented third consecutive year of record revenue, the lasting impact we’re making on our communities through this record growth is even more impressive,” said AGA president and CEO Bill Miller.

Online ..

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