Online sports betting Archives - Page 33 of 36

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

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..

March 4, 2022

Resorts World launches mobile sports betting app in New York

Sports Betting News Bookiecity

Genting Group-owned Resorts World has become the latest operator to enter the New York mobile sports betting market, launching its new Resorts WorldBET app in the state.

Operated by the Resorts World New York City land-casino, the app will allow players in the state to place wagers across a wide range of sports.

New customers using the app will also have access to a risk-free bet of up to $500.

Resorts World already had a presence in the New York sports betting market via a retail sportsbook facility at its Resorts World Catskills site in the state.

“This is something our players and sports enthusiasts have wanted for a long time, and we’re excited to say Resorts World New York now has mobile sports betting,” Genting Americas president Robert DeSalvio said.

“From our experience in having a sportsbook in both our Catskills and Las Vegas properties, we were able to take feedback from our players and deliver what New Yorkers really want in a mobile sports betting app.

“By partnering..

March 3, 2022

Bet365 revenue steady in 2020-21 despite in-play betting decline

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Bet365 has reported revenue of £2.81bn (€3.39bn/$3.76bn) in the full year ended March 2021, largely even with its 2020 revenue, as growth in gaming helped offset a pandemic-related drop in in-play betting volume.

This was a slight rise of 0.2% from Bet365’s full year 2019-20 results, due to the pandemic effectively ceasing live sports for at least half of the year.

Sports and gaming accounted for a grand majority of the revenue, totaling at £2.77bn.

While the operator did not mention how much revenue came from each aspect of that vertical, it said that gaming rose 8%, offsetting lower sports revenue. In-play share made up 68% of the sports revenue, falling from 75% in 2020.

Total wagers on sports were down by 13%, the second consecutive year of declining stakes.

Football club and facilities revenue, from Bet365 Group-owned Stoke City FC, came to £29.3m.

Sports and gaming also incurred all direct costs, at £489.8m. This left the total gross profit at £2.32bn, down 3% year-on-year..

March 2, 2022

Colorado sports betting handle reaches record $573.7m in January

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Consumers in Colorado wagered a record $573.7m (£430.6m/€516.7m) on sports in January, while revenue for the month amounted to $34.6m.

The amount spent by players easily beat the previous record of $491.5m set in October of 2021 by 16.7%, while it was also 75.5% higher than in January last year and 24.3% up from $461.4m in December 2021.

Online wagers in January amounted to $567.1m, whereas in contrast, just $6.6m was bet at retail sportsbooks across the state, figures published by the Colorado Department of Revenue showed.

Gross gaming revenue from sports betting in the month reached $34.6m, which was 49.8% higher than $23.1m in January 2021 and 40.1% more than $24.7m in December 2021 but fell short of the record $36.8m set in October last year by 6.0%.

Online betting accounted for $34.2m in total revenue, while the remaining $437,090 came from retail wagering facilities.

Basketball was the most popular sports to wager on, attracting $163.6m in total bets during the month, ahead ..

March 1, 2022

Flutter aims to use its scale to overcome short-term challenges

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Online gaming behemoth Flutter remains confident that its unmatched scale will help it make long-term decisions in the UK, US and mainland Europe, as chief executive Peter Jackson and chief financial officer Jonathan Hill revealed on the operator's 2021 earnings call.

The operator revealed in its 2021 results that it struggled in some of its international markets, where Pokerstars leads its offering. In Germany, terms of the country’s Fourth State Treaty on Gambling allowed online casino nationwide for the first time but with strict conditions and high taxes, while in the Netherlands, operators that did not receive a licence were required to block all Dutch customers. Last year, the business agreed to acquire Tombola, which does hold a Dutch licence.

While these struggles impacted business in 2021, Hill said that the scale of the Flutter business meant that it could afford to work in difficult conditions.

“One of the benefits of having a portfolio is, just because international..

March 1, 2022

BlueBet slips to loss despite revenue growth in H1

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Australian mobile betting operator BlueBet Holdings reported a net loss of AU$761,000 (£412,752/€493,510/US$553,968) for the first half of its 2022 financial year, despite experiencing a 72.4% year-on-year increase in gross revenue.

Gross revenue for the six months to 31 December 2021 reached $33.1m, up from $19.2m in the previous year, while wagering revenue – net win from players who placed losing bets, minus winnings and promotional costs – jumped 68.8% to $26.0m.

Turnover was up 20.8% to $264.5m, with growth across all product offerings. Thoroughbred turnover hiked 59.5% to $136.9m, greyhound turnover 61.9% to $72.7m, harness racing turnover 61.1% to $24.3m and other sports turnover 63.0% to $30.6m.

BlueBet noted that 66% of all turnover came from its mobile platforms, including iPhone and Android offerings, while the remaining 44% was attributed to website and call centre activity.

The operator was also helped by a 46.5% year-on-year increase in the number of active customers,..

February 25, 2022

Connecticut online gaming revenue reaches $18.8m in January

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Online gaming and in Connecticut generated net gaming revenue of $18.8m in January, 15.6% higher than the net revenue recorded in December 2021.

This revenue was after promotions, which came to $3.6m. Before promotions the total was $22.4m.

Out of the $18.8m in revenue, the Mashantucket Pequot Tribe brought in $11.1m and the Mohegan Tribe the remaining $7.7m.

Players staked $780.0m on online gaming, a fall of 4.2% from December.

The Mashantucket Pequot Tribe’s Foxwoods Resort Casino saw the most staked, at $502.5m- a decline of 4% month-on-month. Customers staked the second highest amount with Mohegan Digital, hitting $277m. Mobile-on-premise stakes at the Mashantucket Pequot Tribe’s Foxwoods Resort Casino – mobile gaming that took place at the casino itself – made up the remaining $440,460.

Player winnings topped $757.3m, down 4.6% month-on-month, with the highest amount – $488.6m – coming from Mashantucket Pequot Tribe’s Foxwoods Resort Casino.

Aa total of $3.3m was paid to the..

February 25, 2022

CDI to drop online betting and igaming businesses in 2022

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Churchill Downs Incorporated (CDI) has revealed that it will abandon its online sports betting and online gaming business within the next 6 months, in what it described as the “next step forward” for the company.

The news came as part of an earnings call for CDI’s 2021 financial results. Its online product TwinSpires – which includes horse racing as well as sports betting and igaming – brought in $431.7m in total revenue for the year. However, TwinSpires also accounted for $325.4m in costs.

Bill Carstanjen, CEO of CDI, explained that the company’s sports betting and online gaming business had not performed as expected, emphasising the competitiveness of the space.

“When the US Supreme Court overturned the federal ban on sports betting in May of 2018, we had high hopes for the potential to build a profitable business in this space,” said Carstanjen. “Our initial strategy was to leverage a variable cost technology model and be disciplined in our marketing spend with a focus on bottom ..

February 22, 2022

UK attitudes towards gambling improve for first time since 2016

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A survey from the Gambling Commission suggests British attitudes towards gambling are improving for the first time since the survey began, after a long period of worsening public perception.

The statistics come from the Gambling Commission’s quarterly telephone survey, which examines gambling prevalence, attitudes and rates of harm.

The regulator noted that December 2021’s edition, which saw 4,021 people polled, marked the first time in which responses suggested statistically significant year-on-year improvements in attitudes towards gambling since the surveys began in 2016.

However while attitudes softened when compared to December 2020, a majority of the population continued to express anti-gambling sentiments.

For example, in the year to December 2020, 63.4% of respondents said that “gambling should be discouraged”. However, in the 2021 edition, this total had dipped to 58.9%.

Similarly, the portion of the population who agreed that gambling was “dangerous for family life” drop..

February 21, 2022

STS Holdings reports record stakes and active users in 2021

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Polish operator STS Holdings has reported record highs in a number of operating stats, including stakes, in 2021.

The value of bets placed with STS was PLN4.50bn (£830.0m/€1.00bn) during the year, representing a 25.0% increase year on year.

The company recorded 693,000 active users in 2021, up from 557,000 the year before. There was also an 18.0% increase in new registrations, as 370,000 new customers signed up comapred to 314,000 in 2020.

249,000 players placed their first deposits with the company last year, which was a 21.0% increase on 2020’s figure.

CEO Mateusz Juroszek said: “As expected with previous predictions, 2021 was a record year for the group.

“We achieved high increases in key operational data, such as the amounts staked and the number of active users. This shows the dynamics of the growth phase the STS Group is currently in.

“We expect to continue to achieve our previously established medium and long-term goals in the coming reporting periods. What’s more, as w..

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