Online sports betting Archives - Page 28 of 36

GiG: Media rules supreme, but platform potential grows

Another record peak for Gaming Innovation Group’s (GiG) media division was the highlight of the supplier’s first quarter results, but the platform arm is poised for a potentially transformational year.

Gaming Innovation Group reported revenue of €19.1m for the three months to 31 March, representing its second consecutive record-breaking quarter.

Key to this was the ongoing performance of its media arm, which reported a 40.0% year-on-year jump in revenue to €14.1m for the first quarter of the year. The affiliate business, chief executive Richard Brown explains, took a massive leap forward with player intake hitting a record 69,800 for Q1, and intake from its paid campaigns up 160% year-over-year.

“We’ve been launching quietly in a number of markets,” he explains. “Over 12 to 18 months, we launch, analyse and optimise. Once we’ve managed to ascertain the optimum return on investment we ramp up marketing spend.”

Richard Brown, GiG CEO

While there has been a marginal decline in pla..

May 10, 2022

Lithuanian gambling revenue grows by 90% in Q1

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Gambling revenue in Lithuania grew 90.0% to €43.4m in the first quarter of 2022, as neither the return of the land-based sector or a wide-reaching marketing ban stopped the online sector from continuing to grow.

Online gambling revenue came to €26.8m, up 16.7% from Q1 of 2021.

The majority of revenue came from slots – which are split between category A and category B machines.

Category A slots, with uncapped payouts and stakes, brought in €15.5m, which was up 24.7% from 2021. This came on stakes of €210.4m.

Category B slots, which limit stakes to €0.50 per spin and have win amounts capped at 200 times the original stake, €683,313, up 57.9%.

Table games brought in €1.6m, up 25.5%, on €19.4m worth of stakes and betting revenue was €9.0m, up 2.1%, on stakes of €125.3m.

Turning to the land-based sector, revenue was €16.9m after the sector recorded negligible revenue in Q1 of 2021 with land-based gaming venues closed.

Again, most of this came from slots. category A machines brought ..

May 9, 2022

Rivalry goes live in Australia

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Toronto Venture Exchange-listed Rivalry has launched esports and traditional sports betting in Australia.

The operator received a sports bookmaker license by the Northern Territory Racing Commission in February, and took its first bets in Australia last week.

“We are very excited to bring Rivalry to customers in Australia,” said Steven Salz, Co-Founder and CEO of Rivalry. “We take a very different approach than traditional betting operators, and have been particularly successful among Gen Z and young Millennial’s across the globe.

“We are very eager to start building our brand equity in Australia through a series of innovative activations and campaigns as we ramp up services throughout the remainder of 2022. As we do everywhere, servicing and helping to grow the esports and gaming community will be a priority for us.”

The launch comes just over a month after Rivalry launched in Ontario, as one of the initial operators to go live when the market opened on 4 April.

The business rev..

May 6, 2022

DraftKings beats EBITDA target, but still reports $467.7m Q1 loss

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DraftKings’ losses continued to grow to $467.7m in Q1 of 2022, but the business raised its earnings guidance for the year after its EBITDA loss was much lower than its target range for the period.

Revenue grew 33.6% to $417.2m in the quarter.

B2C online betting and gaming continued to make up the vast majority of DraftKings revenue, with revenue from this segment up 41.6% to $386.7m.

DraftKings chief financial officer Jason Park added that revenue in this area would have been $25m higher if not for lower-than-normal hold percentages.

Other revenue, such as revenue from media operations and the operator’s non-fungible token (NFT) “marketplace”, more than doubled to $17.0m.

“DraftKings delivered significant growth across our key revenue and performance metrics,” said Jason Robins, DraftKings’ co-founder, chief executive officer and chairman. “We are not seeing any impact from inflationary pressures on customer demand, and we continue to improve the user experience by adding breadth ..

May 5, 2022

Californians to vote on legalising online betting this year

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A proposition to allow online sports betting in California – but with licence fees of up to $100m – will to appear on the state’s ballot this November.

Flutter chief executive Peter Jackson confirmed that the measure – backed by Flutter’s FanDuel brand, as well as DraftKings and BetMGM – was set to appear on the ballot this November, having gained more than the required 997,139 signatures.

“We’re very excited abut the Californian situation,” he said. “Clearly getting to this stage was not straightforward but we’re very, very happy to be on the ballot.”

These signatures must still be verified, though the measure reportedly has enough signatures that this is expected to be a formality. If it appears on the ballot and is approved by a majority of voters, it will become law.

The measure is titled the California Legalize Sports Betting and Revenue for Homelessness Prevention Fund Initiative (2022), as 85% of tax proceeds will gowards reducing homelessness. Sports wagering will be taxed ..

May 5, 2022

Genius partners Brazilian operator Betsul

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Genius agrees official data, trading and live streaming deal with Betsul to power Brazilian product.

As part of the deal, Genius Sports will provide Betsul with the operatons of the entire sportsbook operations, including a full suite of data-driven outsourced tools across its PreMatch, LiveTrading and Risk streaming solutions.

The partnership includes Genius’ Sports’ portfolio of Brazilian content, which live streams football, basketball, volleyball, futsal and beach volleyball competitions through official partnerships with the Brazilian Basketball League (LNB), Brazilian Volleyball Confederation (CBV) and the Liga Nacional de Futsal.

The company’s premium global partnerships will also give Betsul access to the English Premier League, Liga MX, the Argentine Primera Division and Dimayor.

“The Brazilian sports betting market is poised for explosive growth under a transparent and competitive regulatory system,” said Fernando Martinez, head of commercial in LaTam for Genius Sports.
..

May 4, 2022

New shareholder Corvex urges Kindred board to consider sale

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Investment fund Corvex Management has urged Kindred’s board to look into sale or merger opportunities, soon after announcing that the fund now owns 10% of the operator.

The business led by Keith Arlyn Meister issued a statement last week disclosing that it now owns more than 10% of Kindred’s shares and voting rights, in accordance with Swedish regulations.

Now the New York-based hedge fund has outlined what it sees as the best goals for Kindred’s future.

“We are excited to be large shareholders of Kindred. To date, we have had constructive conversations with both the chairman of the board and senior management of Kindred,” Corvex said. “We believe Kindred has built a strategic position in the rapidly growing global online gaming space.

Corvex outlined that the business should retain an advisor to look at possible sale opportunities.

“Given recent developments, we believe the Kindred Board should immediately retain a leading, global financial advisor to evaluate strategic alternati..

May 4, 2022

Feeding the marketing furnace

Sports Betting News Bookiecity

As Q1 results season gets underway, US sportsbook operators are increasingly looking to refine their customer acquisition approaches.

In the US, sports betting is everywhere. Morning commute billboards, YouTube interstitials, TV commercials, influencer posts…marketing channels are saturated with imagery and copy encouraging new bettors to join the fray.

It should be no surprise, considering the ongoing mass expansion of sportsbooks and online betting sites in the US. With every newly regulated market comes new advertising and marketing campaigns.

Ad channels are brimming with attempts to bring sports fans, curious bettors, or other newcomers into the fold. It takes a careful, well-researched touch to succeed in marketing a sports betting site, especially in the piecemeal and sometimes chaotic US geographies with varying regulatory and legal requirements.

By this point, many big-name operators have staked their claim and continue to market to potential long-term customers. There’s s..

May 3, 2022

Brazil publishes sports betting rules

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Brazil’s Secretariat of Evaluation, Planning, Energy and Lottery (SECAP) has published its rules for sports betting in the country, which include a BRL22.2m (£3.6m/€4.2m/$4.4m) licence fee.

The Ministry of the Economy will act as the regulator and will establish a deadline – which will fall within the next six months – for operators already doing business in Brazil to comply with these rules.

There will be no limit on the number of licences that can be issued, with licences lasting five years. However, operators must pay a BRL22.2m (£3.6m/€4.2m/$4.4m) licence fee.

In addition, operators based abroad must set up a subsidiary in Brazil and must have “sufficient capital and economic and financial capacity” to operate.

The bill said whether a business’ financial capacity was “sufficient” would be determined by the relationship between its share capital and the volume of bets it takes, rather than setting a specific minimum amount of capital.

Operators will be permitted to offer bets o..

May 3, 2022

Mohegan to launch Kambi-powered PlayFallsview sportsbook in Ontario

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Kambi will provide Mohegan Gaming and Entertainment’s PlayFallsview brand with its online sportsbook technology when it launches in Ontario.

Mohegan will launch a betting and gaming brand in Ontario, named after its Fallsview casino resort. The sportsbook for this brand will be provided by Kambi, featuring its ice hockey and bet builder products.

“The Canadian market, and Ontario in particular, is full of potential for Kambi and our partners so I am pleased to have agreed this partnership with Mohegan and its Fallsview online mobile brand.” Kambi chief executive Kristian Nylén said. “I look forward to the combination of our industry-leading mobile sportsbook and the prominent Fallsview name as together we bring players in Ontario all the excitement of single and in-game wagering along with the unrivalled bet combinability our sportsbook offers.”

Rich Roberts, president of Mohegan Digital for Mohegan Gaming and Entertainment, said he was excited to launch an online product outside of..

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