Online sports betting Archives - Page 27 of 36

Crypto wagering: The forces driving growth

iGB brings readers a new column, from Tom Waterhouse of WaterhouseVC. In this first instalment, he analyses the businesses that will drive growth and adoption in cryptocurrency wagering.

The growth of crypto wagering and Web 3.0 are turning traditional wagering on its head.

The entire real-world wagering ecosystem is being rebuilt in virtual worlds like Decentraland, presenting opportunities and risks to established operators.

In Decentraland, players must first purchase or transfer cryptocurrency (MANA or DAI) tokens to their Decentral Games wallet, which they can stake on certain games.

Online crypto operators, which have a similar UX to online fiat operators like FanDuel and DraftKings, are already recording extraordinary turnover.

Source: SoftSwiss

In Q3 2021, the total number of bets placed using cryptocurrency increased by 181% yoy, while the share of bets in crypto (43.3%) is fast approaching par with fiat (source: Softswiss).

Source: Softswiss

For example, crypto-fo..

May 20, 2022

Smarkets’ SBK secures market access in Iowa with Affinity Interactive

Sports Betting News Bookiecity

Betting exchange Smarkets has entered into a market access agreement with omni-channel gaming business Affinity Interactive in Iowa for its SBK product.

Under the agreement, Smarkets will launch its SBK sportsbook app in the US state, offering betting exchange services across a range of sports.

Smarkets said it expects to go live with SBK in Iowa later this year following an earlier launch in Colorado in June 2020 via a partnership with Full House Resorts. A further launch is also planned for Indiana with Smarkets having secured a licence in the state.

“I’m incredibly excited about this deal; the potential for SBK is huge in America, so adding our third licensed state is key as we move to our next stage of growth,” Smarkets founder and chief executive Jason Trost said.

“It is particularly meaningful for me as my family is from Iowa, and so I have always wanted the opportunity to launch there. I can’t wait for bettors in Iowa to enjoy SBK’s market-leading odds.”

Affinity Interactiv..

May 20, 2022

Playmaker acquires The Props Network

Sports Betting News Bookiecity

Playmaker has acquired creator agency and podcast network TPN Media Group, which owns sports betting information site PropsHQ.com, known as The Props Network.

The Props Network was founded in January 2020 and publishes bookmaker reviews, sports and betting information from across the US. It also broadcasts creator content from its podcast network.

The acquisition sees the appointment of Kyle Piasecki, co-founder of The Props Network, to the role of vice president of partnerships.

Previously Piasecki worked for Caesars Entertainment, where he managed VIP departments and customer relationships for land-based and online operations.

“Kyle and his team have developed a unique approach to what today’s media networks should be by providing value to creators, consumers, and gambling industry partners alike,” said David Woodley, president and chief revenue officer at Playmaker.

“The acquisition of The Props Network and bringing Kyle on board to our team gives Playmaker additional digital c..

May 19, 2022

Sportradar launches in-play virtual cricket

Sports Betting News Bookiecity

Sportradar has launched its virtual cricket in-play solution, a virtual betting product that aims to create a real-match cricket experience.

The solution is based on the T20 cricket game format and features a 3D animation engine.

It features 20 overs per team, along with super overs.

The solution is made up of data points from real cricket matches collated by cricket experts and data engineers from Sportradar.

This is the most recent of Sportradar’s cricket offerings, which utilises proprietary data collection tool Cricket Live Score Plus and data and audio-visual content from the International Cricket Council.

“The exponential growth of cricket worldwide has created unprecedented demand for associated content,” said Frank Wenzig, managing director, gaming at Sportradar.

“As cricket fans, and fans of sport more broadly, engage more deeply with data driven content, we are deploying the full extent our technological capabilities to deliver a unique fan experience that empowers our ..

May 18, 2022

Swedish gaming revenue up to SEK6.54bn in Q1

Sports Betting News Bookiecity

Total gaming revenue in Sweden was up 5.8% to SEK6.54bn in the first quarter of 2022, as growth in land-based casinos and online gaming offset a decline in lottery sales.

Despite being a year-on-year increase, revenue was down 6.8% from the previous quarter.

Online betting and gaming made up most of this total, with revenue growing 7.2% to SEK4.20bn. This was also up 0.3% quarter-on-quarter.

The state lottery – run by Svenska Spel – as well as Svenska Spel’s Vegas brand of slot halls – brought in a combined SEK1.29bn, down 4.4% from Q1 of 2021 and down 23.6% from Q4.

Svenska Spel’s Casino Cosmopol brand of land-based casinos, meanwhile, brought in SEK103m, after no such revenue in Q1 of 2021, when these casinos were closed because of Covid-19. Compared to Q4, revenue was down 28.5%

Charitable lotteries brought in SEK863m, which was very slightly up from the same period of 2021, but down 3.0% from Q4.

Restaurant casinos brought in SEK39m, up from just SEK5m in Q1, but down from SE..

May 18, 2022

US growth helps power Sportradar revenue to €167.9m in Q1

Sports Betting News Bookiecity

Data provider Sportradar’s revenue grew by 30.5% to €167.9m (£142.4m/$186.4m) in Q1 of 2022, as revenue from the US more than doubled while all other segments also experienced double-digit growth.

The United States was responsible for €25.7m of Sportradar’s revenue, more than double the total from Q1 of 2021. Meanwhile, €86.7m came from rest-of-world betting solutions, up 25.1%. The supplier said this growth was “driven primarily by increased sales of higher value-add offerings”, such as managed betting services which increased 51% to €26.4 million and live data and odds services, which increased 16% to €46.8 million.

A further €45.9m, up 16.9%, came from rest-of-world audiovisual products such as live streams, due to increased content from Tennis Australia and the National Hockey League (NHL). Revenue from other segments was up 13.6% to $9.5m.

Sportradar chief executive Carsten Koerl said it was Sportradar’s highest-margin products that had helped to power its growth.

“Our fiscal..

May 16, 2022

Missouri legislative session ends without legal sports betting

Sports Betting News Bookiecity

A bill that would permit sports wagering in Missouri made progress in the state House last week, but the legislative session ended before it could be passed to become law.

House Bill 2752, which was sponsored by Representative Dave Griffith, was first introduced on February 23rd 2022. It was read for the first time that day, then for the second time the following day.

After then stalling for months, it was referred to the Special Committee on Public Policy on May 13. However, this was the same day as the state’s 2022 legislative session ended, and with no committee hearing held, sports betting was not passed during this year’s legislative session.

Read the full story on iGB North America.

May 12, 2022

BetMGM to limit presence in New York until tax rates change

Sports Betting News Bookiecity

BetMGM chief financial officer Gary Deutsch said the business would continue to adopt a “conservative” approach in New York until the state’s “irrational” tax environment changes.

During its latest investor day, BetMGM reiterated its net revenue guidance for 2022 of $1.3bn (£1.06bn/€1.25bn), up from $850m in 2021. Executives also said BetMGM’s earnings before interest, tax, depreciation and amortisation (EBITDA) for the year should be similar to 2021, when the business reported an EBITDA loss of $430m.

However, chief financial officer Gary Deutsch noted that there was a change in the portions of this $1.3bn produced by different states.

“Within this guidance, the revenue mix is different than previously expected,” he said. “We expected lower New York revenue and higher revenue in our other online sports and igaming states.”

Deutsch then went on to outline why BetMGM had taken few steps to establish a foothold in New York. During April, the operator reported $5.0m in revenue from $1..

May 12, 2022

Genius Q1 revenue exceeds targets but stock-based costs mean losses grow

Sports Betting News Bookiecity

Data provider Genius reported Q1 revenue of $85.9m, 59.9% ahead of Q1 of 2021 and 10% above expectations, but stock-based expenses meant its net loss widened almost eightfold.

Betting technology, content and services brought in $49.7m, which was up by 27.4% from Q1 of 2021. The majority of the increase, $7.3m, was due to new customers.

Media technology, content and services experienced the fastest growth, up by 157.3% to $24.1m. This, Genius said, was “primarily driven by the acquisition of new customers in the Americas and Europe primarily for programmatic advertising services, and the inclusion of revenues from recent acquisitions”.

Sports technology and services brought in $12.1m, up 124.0%. Most of this growth was also acquisition-related, with Genius highlighting the acquisition of Second Spectrum.

Looking at a geographical breakdown of revenue, just over half – $44.2m – came from Europe, up 11.3%. The Americas brought in $36.0m, up 246.1%, while revenue from the rest of the w..

May 11, 2022

Wynn CEO remains committed to online division

Sports Betting News Bookiecity

Wynn Resorts CEO Craig Billings has said the business is still committed to online gaming – despite earlier rumours of a discount sale – in the earnings call for its Q1 2022 results.

The statement came after Wynn reported revenue of $953.3m (£772.5m/€903.7m) for the first quarter, a rise of 29.4% year-on-year.

Wynn Interactive generated $727m in turnover.

The future of this interactive division had been in doubt as in November 2021 Wynn and Austerlitz Acquisition Corporation I cancelled a deal that would have seen Wynn Interactive spin off and merge with Austerlitz. The joint business then would have listed on the NASDAQ stock exchange.

The business said that this was due to the fact that it no longer planned to go ahead with the spend-heavy strategy to promote the online product that it had initially planned.

Earlier this year, it was rumoured that Wynn was planning a cut-price sale of its Interactive division for an estimated $500m.

When asked about the company’s online aims a..

Tag Archives: Online sports betting