Retail sports betting Archives

RI sports betting handle slips to eight-month low in April

Player spending on sports betting in Rhode Island fell to an eight-month low in April, but the state was still able to report a year-on-year increase in revenue.

Handle for the month amounted to $37.5m, down 6.7% from $40.2m in April 2022 and also 9.6% lower than the $41.5m wagered in March this year.

Of this total, $27.5m was spent betting online, while the remaining $10.0m was wagered at retail sportsbooks. This included $5.8m at Twin River casino’s sportsbook and $4.2m at the Tiverton Casino.

Revenue for the month reached $3.0m, which was 25.0% ahead of $2.4m in April last year but 25.0% lower than $4.0m in March 2023.

Read the full story on iGB North America.

May 24, 2023

Fanatics’ Matt King brings new thinking to US sports betting

Sports Betting News Bookiecity

As CEO of FanDuel, Matt King took a daily fantasy sports brand to the top of the US sports betting industry, and in the top job at Fanatics Betting and Gaming he’s looking to do it all over again. Not that he’s looking to emulate his former employers in leading the ecommerce giant; it’s Spotify that inspires him.

For Fanatics Betting and Gaming chief executive Matt King, the challenge he is taking on isn’t building a market leader. He’s already done that during his tenure at FanDuel, which is currently sitting with a seemingly unassailable market share across the US. Revenue there grew from $200m to over $1bn on his watch.

And his core goal isn’t to build an entity capable of taking on a behemoth he created. Instead the billion-dollar question is: how do you create something capable of providing a genuine alternative to consumers?

In a market dominated by iTunes, he’s looking to build Spotify.

Fanatics: Officially licensed everything

What separates Fanatics Betting and Gaming f..

May 23, 2023

Inspired extends virtual sports deal with Paddy Power

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Inspired has signed an agreement to extend its existing virtual sports provider contract with Flutter-owned Paddy Power.

The extension will allow Inspired to continue providing Paddy Power’s retail venues across the UK and Ireland with its products.

“We are thrilled to extend our partnership with Paddy Power in supporting their retail venues across the UK and Ireland, as we have done for the past 12 years,” said Brooks Pierce, president and chief executive officer of Inspired. “We will continue to provide Paddy Power with our latest products and technology giving them the advantage of our leading content for their virtual sports offerings.”

Vince Bateson, head of retail gaming at Paddy Power, said the deal would allow Paddy Power to continue offering quality virtual sports products.

“We are pleased to extend our relationship with Inspired for virtual sports products in all our retail betting shops in the UK and Ireland,” said Bateson. “Our customers enjoy virtual products and our o..

May 22, 2023

NH sports betting revenue up in April despite handle drop

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The New Hampshire Lottery reported year-on-year and month-on-month increases in sports betting revenue despite a drop in handle.

Players spent $65.1m during the month, down 10.9% from $73.1m in April 2022 and 37.0% lower than the record $103.4m bet in March this year.

Online spend for April reached $56.8m, while a further $8.3m was bet at retail sportsbooks.

In contrast, revenue from sports wagering in April amounted to $6.7m. This was up 97.1% on 2022 and 39.6% more than in March.

Internet betting accounted for $6.1m of monthly revenue, with retail betting at $586,755.

Read the full story on iGB North America.

May 18, 2023

MS sports betting revenue up despite handle dip in April

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Mississippi experienced a year-on-year increase in sports betting revenue in April despite reporting a decline in handle.

Player spending for the month amounted to $31.8m, which was 10.4% lower than $35.5m in April 2022 and also 31.9% down from $46.7m in March of this year.

However, revenue reached $4.3m, which was up marginally from $4.2m in the same month last year but 14.0% lower than $5.0m in March.

Read the full story on iGB North America.

May 16, 2023

MA online sports betting handle surpasses $566m in first full month

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Online sports wagering handle in Massachusetts amounted to $566.2m in April, the first full month of the state’s newly regulated market.

Massachusetts launched legal online sports betting on 10 March, with six licensed operators currently active in the state: Barstool Sportsbook, BetMGM, Caesars Sportsbook, DraftKings, FanDuel and WynnBet.

The $566.2m wagered by consumers in April continued a strong start to legal online betting in Massachusetts, following the $548.1m spent in the opening three weeks of regulation.

Read the full story on iGB North America

May 15, 2023

Indiana sports betting handle continues to decline in April

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Sports wagering handle in Indiana fell year-on-year in April, while the state also experienced a month-on-month decline in player spending.

Consumers bet $321.4m on sports during the month, down 10.7% from $360.0m in April last year and also 25.8% behind the $433.0m wagered in March of this year.

Basketball was again the most popular sport to bet on, drawing $91.6m in wagers, ahead of baseball on $61.2m and football with $3.4m. Some $91.6m was wagered in parlay bets and $74.0m was spent betting on other sports.

Read the full story on iGB North America.

May 12, 2023

Iowa sports betting handle continues to decline in April

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Iowa experienced another year-on-year drop in sports wagering handle in April, although the state was able to report an increase in revenue.

Consumers spent $172.6m betting on sports during the month, down 2.7% from $177.4m in April 2022 and also 25.8% behind the $232.6m wagered in March of this year.

Of this total, $157.5m was wagered online, while the remaining $15.1m was bet with retail sportsbooks across the state.

Read the full story on iGB North America

May 10, 2023

SuperBook Sports launches in Maryland

Sports Betting News Bookiecity

Las Vegas-based sports wagering business SuperBook Sports has announced the launch of its online and land-based sports betting offering in the state of Maryland.

Consumers in Maryland can download the SuperBook Sports app or visit the website and place bets across a wide range of sports and competitions.

Players can also wager in-person at the new SuperBook Bar & Restaurant at Oriole Park at Camden Yards, the home of Major League Baseball franchise the Baltimore Orioles. The facility features 38 televisions and an LED wall for watching live sports events.

Read the full story on iGB North America

April 21, 2023

Mississippi bounces back in March as handle and revenue climb

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Sports betting revenue and handle in Mississippi both increased month-on-month in March, while the US state also reported a year-on-year rise in revenue despite a dip in spending.

Handle in the month amounted to $46.7m, which was 2.5% lower than $47.9m in the same month in 2022 but 17.3% ahead of $39.8m in February of this year.

Turning to revenue, the state posted $5.0m for the month, up 22.0% year-on-year and also 61.3% higher than $3.1m in February.

Read the full story on iGB North America

Tag Archives: Retail sports betting

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