Online sports betting Archives - Page 25 of 36

North Carolina House committee passes sports wagering bills as deadline looms

North Carolina’s House Judiciary Committee has passed two bills that would bring sports wagering to the state, just nine days before the legislative session ends on June 30.

The bills will now be referred to the state’s House Finance Committee and will be heard today (June 22).

The main sports wagering bill – Senate Bill 688 – had its first reading on April 8 2021.

Read the full story on iGB North America.

June 22, 2022

Kindred loses lawsuit over Norway fines, but plans to appeal

Sports Betting News Bookiecity

Trannel, the business behind online sportsbook and casino Unibet, a subsidiary of Kindred Group, has lost its lawsuit against the Norwegian state – related to its presence in the country – in Oslo district court, but will appeal the decision.

Trannel initiated the lawsuit in the context of regulator Lotteri-og Stiftelsestilsynet (Lotteritilsynet) ordering the subsidiary to cease offering services in the jurisdiction. Neither Trannel nor its parent company has a licence to operate in Norway, which operates under a monopoly model.

After the initial ruling, Trannel complained to the Ministry of Culture and Gender Equality regarding alleged violations of the Gambling Act. Once the appellate body came to the same decision as the regulator, Kindred launched the lawsuit against the state.

Lotteritilsynet initially made the decision to stop Kindred brands Unibet, Mariacasino, Storspiller and Bingo doing business on 5 April 2019. After the order the gaming group was threatened with a daily ..

June 21, 2022

OLG’s Proline becomes MLB’s first Ontario sportsbook partner

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The Ontario Lottery and Gaming Corporation’s (OLG) Proline sportsbook brand has become the first sports betting partner of Major League Baseball (MLB) in Ontario.

Under the deal, OLG may use official MLB logos, and will have access to cross-promotion opportunities across MLB digital and social channels.

“Teaming up with a world-class organization like the MLB enables OLG to create exciting, one-of-a-kind interactive experiences for baseball fans at the game and on Proline,” says Dave Pridmore, OLG’s chief digital and strategy officer. “The true value of this partnership for OLG is the way it will bring Proline customers even closer to the game they love in ways they’ve never experienced before.”

Proline launched last year – initially as the only sportsbook in the market after single-event betting was legalised in Canada. However, from April 4 it faced a wave of competition as Ontario opened up to private operators.

“As we continue exploring additional avenues to engage our fans aro..

June 21, 2022

Bet365 announced as official betting operator of PGA Tour

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The UK’s largest gaming business, Bet365, has been announced as an official betting operator (OBO) of the PGA Tour, the leading golf tour organiser, in a three-year content agreement that will continue through to 2024.

The agreement states that Bet365 will be the exclusive source for odds on the leaderboard and player pages on pgatour.com as well on TourCast, the organisations online application.

The operator will become the first OBO outside North America; with the territories including the UK, Ireland, Australia and Canada.

Bet365 will also have a brand presence across the PGA Tour’s media properties, including Discovery platforms in the territories Bet365 will be active in.

“We are excited to work with Bet365 to expand the Tour’s sports betting initiatives outside of North America,” said Scott Warfield, Vice President of Gaming at the PGA Tour.

“Bet365 was the first operator to integrate the Tour’s official in-play betting product and they are poised for tremendous growth being..

June 20, 2022

Italy stems flow of year-to-year drops in igaming GGR

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Italian igaming revenue rose year-on-year in April for the first time since November 2021. However, this figure was down month-on-month.

Italy’s igaming market revenue declined slightly month-on-month, at €292.2m in April compared to March’s €302.4m. This meant that revenue was up year-on-year for the first time in six months, after revenue came to €288.1m in April 2021.

This decline has been mostly driven by a 6.7% fall in online sports betting, with revenue now sitting at €118.9m: its lowest level since October 2021. This was still above the €103.6m recorded in April 2021, however.

Though online casino revenue remained stable, there were some interesting movements between operators within the market.

The biggest four online casino operators by GGR all lost ground to their competitors, Sisal and Snai being the worst affected as they drop to 8.5% and 8.3% market shares respectively, while Pokerstars’ share declined to 8.8% and Lottomatica 7.3%.

In contrast, on the online sports b..

June 20, 2022

Michigan online operators report $160.9m gross revenue in May

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In Michigan, online operators have reported combined $160.9m total gross receipts in May, a 1.4% decline from April.

The total combined gross receipts can be divided into $127.4 million from online casino sources and $33.5 million for sport betting. While the online casino segment decline 3.8% from April, sports betting revenue increased by 9.1% increase.

This pattern can also be seen in the adjusted gross revenue, which takes into account free bets. The combined adjusted revenue total was $137.2 million for May; with $114.7 million from online gaming and $22.5 million from sports betting. While internet gaming declined by 3.9%, sports betting rose by almost 35%.

Comparing to May 2021, internet gaming revenue was up by 28.8% – with sports betting rising 127.4%. One factor in the size of the sector’s increase is the ending of most Covid-era restrictions, which affected the sporting calendar in 2020-2021.

The total sports betting handle, that is the total amount that has been bet, w..

June 17, 2022

Low betting margins continue to hinder Spanish industry in Q1

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Gambling revenue in Spain was down year-on-year again in Q1 of 2022, due to continued anaemic sports betting margins.

According to data from regulator the Dirección General de Ordenación del Juego (DGOJ), gross gaming revenue was down by 14.8% to €204.4m. However this marked a 16.3% quarter-on-quarter increase.

Revenue fell despite an increase in stakes, which grew 5.3% year-on-year to €7.41bn, a new record high. Deposits, meanwhile, grew by 4.3% year-on-year – or 7.1% quarter-on quarter – to €769.8m.
A similar trend emerged in 2021, when revenue was down despite a significant increase in stakes.

Breaking down revenue by vertical, sports betting revenue continued to be low at €65.2m, a 40.9% fall from Q1 2021, but up 49.1% from Q4 of that year.

Sports betting stakes remained high at €3.06bn, up 10.6% year-on-year, as it had done in H2 2021. This suggests a sports betting margin of just 2.1%. Margins were low across all sports, but lowest in horse racing at 1.4%.

House-banked casi..

June 17, 2022

Kindred to withdraw from Germany

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Kindred brand Unibet will exit the German market on 1 July blaming the slow progress of licensing and onerous regulatory restrictions.

The operator said it had taken the “difficult decision” to withdraw its application for sportsbook and virtual slots licences, and cease all operations from 1 July.

“Our long-term strategic direction sets out locally regulated markets as the core engine for our growth, however licence application procedures, licence conditions, and the regulatory environment need to be transparent, sustainable, and financially viable for a market to be competitive,” Kindred explained.

It said the current application processes, and the terms and restrictions for product offerings, meant the regulated market was not sustainable nor competitive enough to withstand offshore competition.

“Therefore, we do not see a foundation for long-term shareholder value and customer experience at the moment.”

As its current operations in Germany are limited, the withdrawal would ..

June 13, 2022

Tabcorp-backed body lobbies for higher online betting taxes in Australia

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Tabscorp (TAB), Australia’s largest gambling business, has allied with anti-industry group the Alliance for Gambling Reform as well as the Australian Hotel Association to lobby for higher taxes for online betting operators.

The newly-created trade association, named the Aussie Fair Play Coalition (AFPC), will push for other states to follow Queensland’s lead in harmonising the tax paid by online and land-based operators.

The group pointed to the fact that online operators are principally foreign-owned, and therefore argue that the inequitable tax rates unfairly penalise domestic businesses. While some online operators are from Australia, the majority are not based in Australian territory.

This argument is not a novel one – Victoria introduced the first point-of-consumption tax (POCT) in 2019, in the wake of fears that foreign-owned bookies were not paying Australian taxes.

Currently, the POCT stands at 10% in New South Wales and Victoria, 15% in the Australian Capital Territory, T..

June 9, 2022

NatCen study claims 10% of online accounts responsible for 79% of GGY

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A new study conducted by NatCen for GambleAware claims that 79.0% of online operator revenue comes from the highest-staking 10% of accounts, with online slots showing a particularly concentrated spending pattern.

The study used records from seven online operators, which each provided data about 20,000 accounts active between July 2019 and June 2019. These seven operators together made up more than 85% of the UK betting market, though only 37.5% of the gaming market.

It then weighted the data from these accounts to be representative of the overall online gambling market.

For each customer, NatCen had access to betting data showing the exact date, time and stake of all bets placed by each customer, while for gaming, data was split into 15-minute windows.

For both online betting and gaming, the research found that revenue at these operators was highly concentrated among a relatively small share of accounts.

Overall, it found that the 10% of gamblers with the largest stakes – all stak..

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