Online sports betting Archives - Page 29 of 36

888 shareholders to vote on WIlliam Hill acquisition on 16 May

888 shareholders are set to vote on 16 May to approve the business’ acquisition of William Hill’s non-US assets from Caesars.

As the William Hill assets are larger than the current 888 business, the merger – agreed in September 2021 – is considered a reverse takeover, and so must be approved by shareholders of 888. In a prospectus to shareholders, 888’s board outlined why it backed the deal, and provided more information about both William Hill and the effect of the Gambling Act review on the combined business.

Shareholders will meet at 10:00 am on 16 May in London to consider the deal. Those who cannot attend in person may apply for a proxy vote by 11 May.

The prospectus comes less than a month after 888 and Caesars agreed to reduce the purchase price to acquire the assets by £250m (€297.9m/$315.0m), with the cash portion of the deal now set at £584.9m instead of £834.9m.

This, it said, was due to a “change in the macro-economic and regulatory environment”. Most notably, it said t..

April 26, 2022

New Yorkers using multiple mobile betting apps, research suggests

Sports Betting News Bookiecity

Mobile sports betting players in New York use an average of 3.3 apps to place bets, suggesting a lack of operator loyalty, according to research from mobile gaming customer acquisition company Betting Hero.

The research took place over March 2022 and assessed the answers of 215 respondents aged 21-64.

Most of the respondents (83%) were male.

The research revealed a number of key facts about New York’s mobile sports betting market, which opened on 10 January 2022.

Respondents reported using an average of 3.3 apps to place mobile sports bets. This is more than in New Jersey where an average of 2.8 apps are used.

A total of 23% of respondents stated they used four apps, while 19% used two apps. Using three apps was the third most popular choice, at 18%.

Six percent of respondents reported using six apps, while 4% reported using seven.

Turning to operators, 63% of sports bettors included DraftKings in their lists when asked to name as many real-money online sportsbooks as they could..

April 22, 2022

ComeOn approved for Ontario licence

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ComeOn has secured approval for an Ontario sports betting licence, becoming the 31st operator to do so.

The operator’s registration by the Alcohol and Gaming Commission of Ontario (AGCO) as a sports betting operator was effective yesterday (21 April).

The operator’s licence will expire in two years, in April 2024. This would make ComeOn only the 12th operator to be approved for a two-year licence, with most operators approved for only one year. Ontario Lottery and Gaming Corporation, the provincial lottery operator, has a licence running until 2052.

Ontario launched its regulated market on 4 April of this year. Operators such as Unibet, theScore, BetRivers, 888, PointsBet, LeoVegas, Bwin, Bet365, FanDuel, BetMGM and Caesars all secured licences on launch day, April 4, while more recent licensees include Betway and North Star.

This market launch followed almost three years of work to open up the market, after the government revealed plans to end the lottery’s online gambling monopo..

April 22, 2022

Regulator calls on Norsk Tipping to launch betting loss limits

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Norwegian regulator Lotteri-og Stiftelsestilsynet has called on monopoly operator Norsk Tipping to reduce the availability and number of casino games on its site, and for the introduction of loss limits for sports betting.

In the regulator’s 2021 annual report, it found that both customer and turnover numbers reached a record high for Norsk Tipping, one of the country’s two monopolies alongside racing operator Norsk Rikstoto.

“There may be several reasons for the growth,” the regulator said. “One of the reasons may be that people through the corona pandemic have had more free time due to restrictions in leisure activities.”

This came despite the operator reducing its monthly loss limit for “high-risk” games from NOK10,000 (£869/€1,037/$1,117) to NOK7,500 in December 2020, before cutting it further, to NOK5,000, in September 2021.

While it noted that this represents a success for channelisation, the regulator added that it had asked the operator to strengthen its player protection ..

April 21, 2022

Inside the deal to bring News Corp Australia into sports betting

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Following months – if not years – of speculation, News Corp Australia has made its move into sports betting, in partnership with Tekkorp Capital, BetMakers and seasoned industry executive Matt Tripp. Tekkorp president Robin Chhabra talks iGB through the process.

Less than two weeks after it announced a new advisory arm, Tekkorp Capital flexed its muscles by playing a key role in the deal that creates a formidable new competitor for Australia’s sports betting sector.

News Corp Australia has created NTD: a consortium involving Tekkorp Capital and TGW, which was formed by Sportsbet and BetEasy founder Matt Tripp.

This group has struck a ten-year supply deal with BetMakers to power a new sportsbook product. The offering is due to launch in the second half of 2022, in time for the pinnacle of the Australian racing season, the Spring Carnival.

Two of Tekkorp’s senior team, chief executive Matt Davey and president Robin Chhabra, will join NTD’s board. Chhabra explains that while Austra..

April 21, 2022

DC betting revenue down 26.3% in March despite handle increase

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Sports wagering revenue in Washington DC fell 26.3% year-on-year to $1.4m (£1.1m/€1.3m) in March, despite handle increasing 34.2% year-on-year.

Revenue for the month was down from the $1.9m posted in March 2021, but was 89.1% up from $740,542 in February of this year, which was the lowest monthly revenue total since July 2020.

In contrast, consumer spending increased year-on-year from $15.2m in March last year to $20.4m, with this figure also 6.8% higher than $19.1m in February this year.

Breaking down individual operator performances for the month, Caesars, which runs an online sportsbook and a retail offering at the Capital One Arena, led the way in terms of revenue with $563,801 off a handle of $563,634.

Gambet, operated by the DC Lottery and powered by Intralot, placed second after paying out $5.7m in winnings from $6.2m in player wagers, leaving $511,801 in revenue.

BetMGM, which is active in DC via a partnership with Major League Baseball franchise the Washington Nationals, ..

April 20, 2022

Fanatics denies Amelco sportsbook deal

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US sports apparel business Fanatics has denied a deal is in place with betting supplier Amelco to build a sportsbook for the brand.

Reports last week claimed that Fanatics had agreed a source code deal with Amelco as part of its plans to build a sports betting product.

“There is no deal in place with Amelco,” the spokesperson said, however.

Fanatics, which raised $1.5bn in January this year at a $27bn valuation, has long been credited with an interest in expanding from sports memorabilia into sports betting brand.

Last year, the business was among the bidders to operate sports betting in New York. Fanatics and Penn National Gaming’s Barstool brand were each listed as operators in a bid from Kambi.

This bid was ultimately unsuccessful, however.

Instead, a FanDuel-led consortium comprising DraftKings, BetMGM and Bally Bet was recommended, as was Kambi’s other proposal – involving Caesars Sportsbook, PointsBet, Resorts World, Rush Street Interactive and Wynn Bet.

The business also..

April 20, 2022

Dazn to launch sports betting brand with Pragmatic deal

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Sports streaming business Dazn has partnered with betting and gaming supplier Pragmatic Group in order to launch Dazn Bet – its own sports betting brand, which is set to soft launch in August.

Dazn will launch a new business, headquartered in Gibraltar, to operate sports betting under the new brand, which will do business “in multiple regulated territories”. The platform for this product will be provided by Pragmatic, through an exclusive multi-year deal with the media group.

“It’s an honour for us to partner with DAZN,” Pragmatic Solutions chief executive Ashley Lang said. “We know that fans want more integrated, immersive, and interactive experiences, and through our exclusive partnership with DAZN, we can deliver this.”

Dazn said that the new sports betting business would “develop a fun, convenient, and integrated experience for casual bettors to enjoy alongside DAZN’s live sports streaming”, as part of what it called “the trend towards recreational in-play betting”.

Shay Segev
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April 12, 2022

Indiana sports betting handle rises 50.6% year-on-year in March

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Players in Indiana wagered $476.8m (£365.9m/€438.3m) on sports in March, an increase of 50.6% on the same month last year.

The amount spent by consumers during the month far surpassed the $316.7m bet in March of 2021, while this total was also 16.6% higher than $409.1m in February this year according to the Indiana Gaming Commission.

With the NCAA basketball tournament occurring in March, basketball remained by far the most popular sport to bet on in Indiana, attracting $274.1m in bets. Football wagers reached $2.0m and baseball $1.6m, while parlay betting amounted to $121.3m and other sports drew $76.5m in wagers.

In terms of revenue, adjusted gross revenue for the month stood at $32.3m, which was up 22.8% from $26.3m in March 2021 and 90.0% higher than $17.0m in February of this year.

Looking at individual operator performance, FanDuel partner Blue Chip Casino led the way in revenue terms, posting $12.2m in revenue off a $143.8m handle.

DraftKings-partnered Ameristar Casino had ..

April 11, 2022

Hard Rock launches sports betting in AZ with Navajo Nation

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The Hard Rock Digital arm of Hard Rock International has launched its mobile sportsbook app in Arizona via a partnership with the Navajo Nation Gaming Enterprise (NNGE).

The new Hard Rock Sportsbook will allow players aged 21 or over in the state to place bets across a wide range of sports and competitions.

The app also features a selection of promotions, bet types, reward features and customer support.

The launch was made possible after Hard Rock announced a market access agreement with the NNGE in January this year.

The NNGE, a division of the Navajo Nation, the largest federally recognized Native American Nation in the US, operates five gaming and hospitality facilities across Arizona and New Mexico.

“Arizona has a rich sports culture and we’re proud to enter the state with our great partners at Navajo Gaming,” Hard Rock Digital executive managing director and chief executive Marlon Goldstein said.

‘We’re excited to debut our new platform, which players of all experience level..

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