Online sports betting Archives - Page 32 of 36

Bet365 and FanDuel among latest Ontario licensees

iGaming Ontario, the subsidiary of Alcohol and Gaming Commission of Ontario (AGCO), has issued a number of new licences ahead of the Canadian province launching its regulated online gambling market next month.

Hillside, operating as Bet365, secured a licence in Ontario, along with Flutter Entertainment-owned FanDuel and Unibet.

Other recent named licensees include Annexio Limited, which will operate as Lotogo, Coolbear, Fitzdares and NSUS Limited, operating under the WSOP brand.

In recent weeks, LeoVegas, Rush Street Interactive, Rivalry, theScoreBet and 888 have also secured approval to launch in Ontario.

Licences were issued by iGaming Ontario, which will oversee the province’s market when it formally launches on 4 April.

Each of the licences will run from the day the market opens, through to 3 April 2024.

Earlier this week, new guidance from the AGCO warned operators in the process of securing a licence to cease activities when the province’s igaming market opens next month.

March 17, 2022

Minnesota committee approves online betting bills

Sports Betting News Bookiecity

A Minnesota house legislative committee has adopted two bills that would both allow for online sports betting to be conducted by the state’s 11 federally recognised Native American tribes.

The Committee for Finance and Policy was presented with a tribal and commercial sports betting bill – House Bill 778 – and House Bill 167, which initially had nothing to do with sports wagering and instead dealt with sentencing hearings.

However, it opted to amend both bills to produce identical pieces of sports wagering legislation in which betting may be operated by the state’s recognised tribes.

Both bills would allow for only two master sports betting licences, which may be granted to “organisations comprised of two or more Indian tribes”.

Of these licences, one will go to an entity with headquarters north of Interstate Highway 94, and one located south of the highway. I-94 stars at the Wisconsin border near Minneapolis and moves northwest before leaving the state near Fargo, North Dakota.

March 16, 2022

Betsson to reshuffle board with three new appointments

Sports Betting News Bookiecity

Betsson’s nomination committee has proposed Eva de Falck, Louise Nylén and Tristan Sjöberg as new board members.

In addition, the committee proposed Johan Lundburg as chairman, as previously announced, as well as the re-election of Eva Leach, Peter Hamberg and chief executive Pontus Lindwall to the board.

Tristan Sjöberg had previously served on Betsson’s board for six months in 2018. However, he stepped down at the time because he was “in a legal dispute with Swedish tax authorities regarding tax liability”.

Tristan Sjöberg

He is vice chairman of the TCSJohnHuxley Group and co-owner of Knutsson Holdings. He is considered an “active owner” of Betsson, as Knutsson is the operator’s fourth-largest shareholder, and so he will represent these interests on the board.

Eva de Falck

Eva de Falck and Louise Nylén were both proposed as independent directors. De Falck is a senior consultant, advisor and board member of Skandiabanken, and has also served as general counsel and a member of..

March 15, 2022

LeoVegas closes in on Ontario igaming approval

Sports Betting News Bookiecity

LeoVegas Group has become the latest online gambling operator to secure approval from the Alcohol and Gaming Commission of Ontario (AGCO) to launch in the Canadian province’s regulated market.

The AGCO notified LeoVegas that while it had not yet received a licence, it had been registered as an igaming operator, which all but cleared the way for it to launch in the province.

LeoVegas will now be required to enter into an operating agreement with iGaming Ontario, the subsidiary of AGCO that will oversee the market, in order to launch when the market opens on April 4.

Should LeoVegas secure final approval as expected, it will offer online casino, live casino and betting under its LeoVegas and Royal Panda brands.

LeoVegas said that launching in Ontario would be in line with its strategy to grow in locally regulated markets and soon-to-be regulated markets, with plans also in place to go live in the US later this year, beginning with New Jersey.

“Over recent years, the LeoVegas brand h..

March 11, 2022

Scout CEO orders cost review after “unsatisfactory” Q4

Sports Betting News Bookiecity

Andreas Ternström, chief executive of fantasy gaming provider Scout Gaming Group, said the business would initiate a cost review after he was “not at all satisfied” with the supplier’s slow growth and rising expenses in Q4.

Revenue ticked slightly upward to SEK17.1m, after revenue of SEK16.9m in Q4 of 2020.

Expenses, meanwhile, more than doubled to SEK51.0m.

Personnel expenses grew to SEK13.7m, but most of the growth was in other external expenses, which were up 148.5% to SEK34.3m. Ternström said the increase in other costs was mostly related to marketing, plus a one-off SEK18m cost after expenses for tournament participation tickets had been “wrongly accounted for” in prior periods.

If the errors had been attributed to these previous quarters instead, expenses would have come to SEK33.1m.

Depreciation and amortisation also grew, by 50.2% to SEK3.1m.

As a result, the business made an operating loss of SEK33.9m, which was more than five times its operating loss in 2020.

After a ..

March 10, 2022

Staking a claim to betting: The transition from online casino to sports

Sports Betting News Bookiecity

Join Champion Sports for a best-practice guide on launching sports betting to complement your online casino offering.

As the global igaming industry becomes increasingly competitive, acquisition costs are reaching unprecedented levels as operators fight for market share. At the same time, consumers remain promiscuous and operators are struggling to extract the maximum lifetime value out of the players they have acquired, often at great expense.

This means single-vertical offerings for online casino are increasingly rare. Players want more, and if products are unavailable, they could move to a competitor. Do you really want to acquire a customer who then jumps to a competitor and stays there?

A key tactic to expand beyond casino is to move into sports betting. Not only will operators be able to offer casino players the opportunity to bet on sports, they can also unlock other upsides such as additional marketing opportunities, increased cross-sell, greater stickiness and more.

But la..

March 10, 2022

Oregon online sports betting handle reaches $39.5m in February

Sports Betting News Bookiecity

Players in Oregon wagered $39.5m (£30.0m/€35.8m) on sports online during February, while gross gaming revenue from sports betting reached $3.3m for the month.

The amount spent during February was 33.5% higher than in the same month last year but 7.9% behind the record $42.9m set in January of this year.

The Oregon Lottery, in partnership with DraftKings, is the only licensed operator of online sports betting in the state.

The lottery’s current Scoreboard online sportsbook, powered by DraftKings through its SBTech division, is currently being phased out in order to be replaced by the standard DraftKings sportsbook. This process began on January 18, with players able to create a new DraftKings account and move funds across.

As such, the monthly results were split in half to show activity on the DraftKings sportsbook and from any remaining players still with Scoreboard.

Spending with DraftKings in February amounted to $39.2m, while the remaining $273,328 was wagered through Scoreboar..

March 9, 2022

Arizona falls just short of $500m sports betting handle in December

Sports Betting News Bookiecity

Players in Arizona bet a record $499.2m (£379.4m/€455.1m) on sports in December 2021, though gross revenue fell 23.1% month-on-month.

Wagering was up 7.0% month-on-month from $466.7m in November, with the state’s handle split $494.5m for online bets and $4.7m at retail sportsbooks.

Consumers won a total of $454.9m from mobile betting and $4.5m from retail wagering.

As a result, despite this higher spending, gross revenue before free bets fell from $50.2m in November to $38.6m in December.

After accounting for $21.3m worth of free bets – almost all of which were distributed to online players – taxable revenue was $17.3m, down 45.6% month-on-month.

DraftKings led the way in December after taking $146.0m in total bets, followed by Flutter Entertainment-owned FanDuel Group on $128.5m, the BetMGM with $103.8m.

In terms of gross revenue, DraftKings also ranked first on $11.0m, ahead of FanDuel with $10.7m and BetMGM on $8.8m.

After taking away free bets, FanDuel was top with $7.2m in ..

March 8, 2022

Betfred expands US presence with sports betting launch in Arizona

Sports Betting News Bookiecity

The Betfred USA Sports division of Betfred Group has launched mobile sports betting in the state of Arizona through a partnership with tribal facility the We-Ko-Pa Casino Resort.

Players in Arizona can now download the Betfred Sports-branded app and place pre-event and in-play bets on a wide range of professional and college sports competitions.

The launch comes after Betfred agreed a market access deal with We-Ko-Pa in August of last year.

The app will support an existing retail sports betting offering at a temporary facility at the WKP Sports & Entertainment Sports Bar, with a permanent sportsbook scheduled to open at the We-Ko-Pa Casino later this year.

“Three months ago, the We-Ko-Pa Casino Resort and Betfred Sports introduced sports betting kiosks at our beautiful desert gaming destination, and most recently opened a temporary full-service sportsbook,” We-Ko-Pa general manager Mary Ketterling said.

“Adding mobile apps is one more way we can offer Arizonans an easy, user-frien..

March 7, 2022

New Yorkers spend $1.54bn on internet sports betting in February

Sports Betting News Bookiecity

Consumers in New York staked a total of $1.54bn (£1.17bn/€1.42bn) on internet sports betting in February, while gross gaming revenue from online wagering reached $91.7m.

The amount bet during the period from 31 January to 27 February, which included the Super Bowl, was 5.5% lower than the $1.63bn spent in the opening 23 days of the state’s legal market.

New York launched legal online sports betting on 8 January and the total wagered in the first 23 days of operation comfortably surpassed the US monthly handle record of $1.30bn set by New Jersey in October last year.

Gross gaming revenue from sports betting in February was also 18.9% lower than $113.0m in the opening period for the state’s legal market.

February included figures from Caesars Sportsbook, FanDuel, DraftKings and Rush Street Interactive, all of which began operations on opening day in New York, as well as BetMGM, which went live on 17 January, PointsBet on 25 January and WynnBet on 2 February.

Flutter Entertainment-ow..

Tag Archives: Online sports betting