Online sports betting Archives - Page 8 of 36

US growth drives 30% revenue rise in Sportradar FY22

Sportradar reported a 30% rise in revenue from €561.2m (£490.1m/ $591.2m) in 2021 to €730.2m in its full year 2022 financial report, driven by 78% growth in the US, as well as 26% growth from its international operations.

The company’s reported revenue beat its annual projected outlook range of €718m to €723m. US revenue stood at €127m for the year, as opposed to the €71.7m the business reported in 2021. This compares with the 25.8% rise in its international betting segment with grew from €309.4m to €389.1m from 2021 to 2022.

From this revenue, the business announced adjusted earnings before interest taxes depreciation or amortisation (EBITDA) of €125.8m, a 23% increase from the €102.0m the company achieved in 2021.

The business hailed the strong results across all its key performance metrics. CEO Carsten Koerl said he was “very pleased” with the company’s results, driven by what he described as “exceptional execution”.

“We saw excellent performance across all of our key performa..

March 14, 2023

Arizona sports wagering handle reaches $572.5m in December

Sports Betting News Bookiecity

Consumers in Arizona spent $572.5m betting on sports in December of 2022, a year-on-year increase of 14.7%.

The monthly figure was comfortably higher than the $499.2m bet during the same month in 2021, but 7.2% behind the $616.9m wagered in November 2022.

Mobile betting accounted for $566.5m of all bets placed in December, while a further $5.0m was spent at retail sportsbooks in the state.

Read the full story on iGB North America.

March 13, 2023

Fredrik Elmqvist: Other side of the coin

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Slots veteran Fredrik Elmqvist is turning his luck to the mad bad world of sports betting – but will it work?

Elmqvist is well-deserving of his reputation as the king of slots.

But – more than 10 years on from his epoch-making launch of Yggdrasil – the Stockholm native is turning his luck to the decidedly different proposition of sports betting in his latest project ParlayBay, which seeks to make its name as the new champions of micro betting.

The Swedish entrepreneur certainly has a nose for where the action is, describing it a “pretty interesting” time to be setting out on a venture such as this.

Elmqvist describes a US sports betting landscape that is shifting into a new, subtler gear following the marketing wars that characterised the earlier days of the PASPA repeal.

“For a few years there’s been a shift into sports betting – and you see in the United States rollout both the need for new products and to keep the marketing costs down, as well as still get new players coming ..

March 10, 2023

Massachusetts’ mobile sports betting market goes live

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The six online operators approved to launch mobile sports betting offerings in Massachusetts – FanDuel, DraftKings, WynnBet, Barstool, BetMGM and Caesars – have gone live in Massachusetts.

More than six months on from when then-governor Charlie Baker signed House Bill 5164 into law, players have begun placing bets from the six online operators licensed by the Massachusetts Gaming Commission (MGC) – joining the now majority of US states that have legalised the activity.

The rollout follows the launch of retail sports betting towards the end of January, that permitted any land-based casino or racetrack operator to apply for a licence.

“The debut of sports betting in Massachusetts has delivered an incredible amount of excitement and activity to our retail sportsbook at MGM Springfield,” said BetMGM CEO Adam Greenblatt. “We’re proud to expand our best-in-class wagering experience statewide during one of sports’ biggest months of action.”

Role of sports fans

President of Caesars Digit..

March 9, 2023

MGA pens data deal with Badminton World Federation

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The Malta Gaming Authority (MGA) has announced it has signed a data sharing agreement with the Badminton World Federation (BWF) Integrity Unit.

The deal will see the two organisations work to improve the monitoring of suspicious gambling activity in badminton.

MGA head of financial crime compliance Antonio Zerafa said he was “very pleased” to see BWF added to the list of sports governing bodies whom the regulator is already engaged with on a day-to-day basis.

“I am very pleased to see the Badminton World Federation added to the long list of Sports’ Governing Bodies whom the Authority already assists on a practical level, and we look forward to working with the BWF’s Integrity Unit on any issues that may arise,” he said.

Thomas Lund, BWF secretary general said that this partnership will support BWF in its mission of identifying possible instances of match-fixing, and will improve its capabilities in its investigations and anti-match fixing operations.

“This partnership helps the B..

March 8, 2023

New Brazil integrity body forms in wake of scandals

Sports Betting News Bookiecity

A consortium of organisations with a stake in Brazilian sports betting have announced the formation of a new non-profit Brazilian sports integrity body, the Associação Brasileira de Defesa da Integridade do Esporte (ABRADIE).

The establishment of the new body follows a number of recent match-fixing scandals in the Portuguese-speaking country, which have led to a national conversation regarding its betting laws.

Involved in the creation of the association are Genius Sports, Entain, daily fantasy sports operator Rei Do Pitaco, as well as law firms Bichara e Motta and Maia Yoshiyasu Advogados, who released a joint statement following the group’s formation.

Luiz Felipe Maia from the Maia Yoshiyasu firm argued that the association was being formed at a “critical time,” due to the pressures of the growing Brazilian market and the ongoing question of regulation.

ABRADIE

ABRADIE states that it will operate as a collaborative group that will partner with regulators, federal and state la..

March 8, 2023

US sports betting in 2023: Where do we go from here?

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H2 Gambling Capital's in-depth analysis of the current state of the US sports betting market, and its future growth trajectory, is now available as a report.

H2 Gambling Capital: US sports betting exceeding expectations

The fifth anniversary of the Supreme Court striking down the Professional and Amateur Sports Protection Act, paving the way for legal betting in the US, is fast approaching.

Over this time there has been a wholesale reshaping of the US gaming sector, with mobile betting racing across multiple states, and a pandemic arguably accelerating rather than slowing its spread.

What next for the market?

It’s against this backdrop that H2 Gambling Capital, in partnership with iGB, is looking at what’s next. As the pace of new state launches slows, where is growth coming from?

Report author Ed Birkin, H2 Gambling Capital

For a sector in which a small cohort of brands tend to occupy podium positions in each state, there is there is perhaps more scope for upheaval than ..

March 7, 2023

Duelling sports betting bills fail in Georgia

Sports Betting News Bookiecity

Two separate sports betting bills in Georgia have failed in the State House and the State Senate.

This means that Georgia’s sports betting dream is dead until the 2024 Georgia legislative session at the earliest.

The Senate bill’s primary sponsor and Republican Majority Leader Bill Cowsert’s strategy was focused on amending the Constitution of the State of Georgia to allow the legislature to pass laws.

The Senate effort aimed to amend Georgia’s constitution

In turn, this would have allowed for sports betting to be operated in the state.

Georgia currently prohibits the authorization of gambling operations, with an enumerated exception for lotteries.

This bill – titled Senate Resolution 140 – did not get the requisite two thirds majority needed for an amendment of the state constitution, and so failed at 30-26 votes.

If the resolution had passed, sports betting would have appeared on the ballot by referendum in November 2024.

And while the amendments enabling legislation Senate B..

March 6, 2023

Kambi scores multi-channel sports betting deal with Wisconsin tribal operator

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Sports betting technology supplier Kambi Group has agreed a new multi-channel sportsbook partnership with tribal operator Potawatomi Casinos & Hotels in Wisconsin.

Under the deal, Kambi will support Potawatomi Casino Hotel in Milwaukee with the opening of the first land-based sportsbook in the state. The new facility will feature 20 self-service kiosks, while additional kiosks will also open at the Carter Hotel & Casino in Carter.

Kambi’s full suite of sports betting technology and services will be available to customers for Potawatomi Casino Hotel’s initial retail sportsbook launch, with an on-premises mobile roll out, including live odds boards and Bring Your Own Device (BYOD) technology, to follow.

Read the full story on iGB North America.

March 3, 2023

Colorado sports betting revenue edges up in January despite handle dip

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Sports betting revenue in Colorado increased 2.6% year-on-year in January despite the US state experiencing a decline in handle.

Gross gaming revenue for the month amounted to $35.5m, which was marginally up from $34.6m in the same month last year but 13.2% behind the $40.9m reported in December 2022.

Almost all revenue in January came from online wagering, with this segment generating $35.4m in revenue. Retail sportsbooks were responsible for just $106,592 in revenue.

Read the full story on iGB North America

Tag Archives: Online sports betting