Retail sports betting Archives - Page 10 of 13

German state of Bremen shuts down all bookmakers amid AML concerns

The Free Hanseatic City of Bremen – the smallest state in Germany – has announced a full closure of all bookmakers following a statewide investigation into money laundering.

The announcement affects the four operators that offer retail betting services in Bremen – Tipico, HappyBet, Tipwin and XTiP – which between them operate 32 betting shops.

A total of 24 of the operators’ franchises were “tolerated” in the state before the shutdown came into effect, according to a statement on Bremen’s state website, but were awaiting full approval.

Now, however, Bremen has issued rejection letters to all 32 betting shops after the four operators were unable to prove where their funds originated from, leading to concerns about money laundering.

Once the rejection notices were issued, it became illegal to bet in any of the bookmakers in Bremen.

The announcement came from the Bremen Landtag, after Interior Senator Ulrich Mäurer conducted a press conference explaining the closures.

“Basically, it..

July 25, 2022

Arizona sports betting handle reaches $461.5m in May

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Consumers in Arizona spent a total of $461.5m (£385.1m/€452.6m) on sports betting during May, while gross revenue for the month amounted to $55.2m.

The US state’s monthly handle, covering online, retail and limited event wagering operator licensees, was down 10.0% from $512.9m in April and some way off the record $691.0m set in March.

Of this total handle, $456.7m was bet online, while just $4.6m was spent wagering at retail sportsbooks across Arizona.

Players won $405.3m during the month, which left $55.2m in revenue, up 48.4% month-on-month from $37.2m in April.

After including $13.8m in free bets and promotional credits, taxable revenue for the month was $41.4m, a 151.5% improvement from $16.5m in the previous month.

FanDuel claimed top spot in terms of handle, processing a total of $152.4m in wagers, split $148.7m online and $3.6m for retail wagering. DraftKings placed second with $141.1m in online bets, then BetMGM with $84.2m worth of online wagers.

Turning to gross revenue..

July 15, 2022

Detroit casino revenue down 8.8% YoY in June

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The three commercial casinos in Detroit, Michigan, posted $98.6m (£83.4m/€98.2m) in total revenue during June, an 8.8% drop on the same month last year.

Revenue from the MGM Grand Detroit, MotorCity Casino and Penn National’s Hollywood Casino at Greektown was down from $108.1m in June 2021 and also 9.3% lower than $108.7m in May of this year.

MGM retained top spot in the Michigan city with a 49% share of the market, ahead of MotorCity on 34% and Greektown with 17%.

Breaking down the monthly performance, table games and slots were responsible for $98.2m of all revenue for the month, but this was 7.2% lower than in June of last year.

MGM led this area of the market with $48.3m in revenue, up by 4.3% year-on-year. However, revenue at MotorCity was down 9.8% to $33.5m, while Greektown’s revenue dropped 26.6% to $16.4m.

The three casinos paid $8.0m in gaming taxes, as well as $11.7m worth of wagering taxes and development agreement payments to the City of Detroit.

Turning to retail sp..

July 8, 2022

Betfred partners Long Shot’s for Maryland sports betting launch

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Betfred's sports arm, BetFred Sports, has agreed a market access deal in Maryland with off-track betting facility and restaurant Long Shot’s of Frederick.

Under the agreement, Betfred will offer both retail and online sports betting in the state.

A temporary retail sportsbook will open adjacent to the Maryland Jockey Club’s off-track betting within Long Shot’s for the 2022 National Football League season. Due to open in September, the facility will include in-person betting windows and self-serve betting kiosks.

A permanent sportsbook site with a video wall, theatre-style seating and food and beverage facilities is scheduled to open early next year.

Betfred also intends to roll out online sports betting in the state, though remains subject to final regulatory approval.

Maryland Governor Larry Hogan signed a bill to legalise both online and retail sports betting in Maryland last year, after voters approved sports betting through a November 2020 referendum.

However, while reta..

July 8, 2022

Delaware betting handle hits lowest point since August 2020

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Sports betting handle in Delaware dropped to its lowest point since August 2020 while revenue fell by two thirds year-on-year during June 2022.

During the month ended 26 June, players staked a total of $3.5m, which was 41.1% less than in June of 2021. In addition, this figure was the lowest since August 2020, which was the first full month following the reopening of casinos and racetracks in the state after Covid-19 lockdowns.

The number of wagers placed also reached a new low for the year, at 112,200.

Revenue was also down sharply, by 67.1% year-on-year to $212,768.

Both revenue and handle were down year-on-year at each of the state’s three operators. Delaware Park led the way with almost half of the revenue and handle. Players staked $1.7m, almost exactly half of what they staked in June 2021, while the sportsbook took in $100,914, down 72.7%.

Dover Downs followed, with revenue of $57,411 from stakes of $1.0m, its lowest total since July 2020 when the venue was closed for much o..

July 7, 2022

Arizona sports betting handle hits $512.9m in April

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Players in Arizona spent $512.9m (£429.3m/€502.8m) on sports betting during April, while gross revenue for the month reached $29.2m.

The state’s handle was the second-highest monthly total since the launch of legal wagering, 25.8% behind the record $691.0m that was wagered in March of this year.

Consumers bet $509.5m online during the month, while the remaining $3.3m was spent at retail sportsbook locations.

Players won $482.4m from sports betting in April, which left $29.2m in gross revenue, 21.5% lower than the $37.2m figure in March.

After including $12.7m worth of free bets and promotional credits, taxable revenue for the month was $16.5m, down 11.8% from the previous month

The state was also able to collect $1.6m in tax from sports betting during April.

DraftKings again processed the most wagers during March, taking $155.9m in online bets, marginally ahead of FanDuel with $152.5m in combined online and retail wagers. BetMGM followed with $100.6m in online bets.

In terms of ..

July 4, 2022

Rhode Island sports betting revenue slips to $2.3m in May

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Revenue from sports betting in Rhode Island slipped to a year-low of $2.3m (£1.9m/€2.2m) in May, though the state’s handle was up month-on-month.

Player spending for the month reached $41.1m, up 45.2% from $28.3m in May of 2021 and also 2.2% higher than $40.2m in April this year.

Of this total, $25.3m was spent online, while the other $15.8m was bet at retail sportsbooks at the Twin River and Tiverton Casino locations.

Revenue was down 14.8% year-on-year from $2.7m in May last year and 11.5% lower than $2.6m in April of this year. The monthly figure was also the lowest total since $1.2m was posted in December 2021.

Some $1.9m of total revenue was attributed to online betting, with the remaining $461,059 being retail revenue split across Twin River and Tiverton Casino.

Of the two casinos, Tiverton Casino came out on top with $404,515 in revenue from $5.3m in player bets, ahead of Twin River with just $56,544 in revenue, but almost double the size handle of $10.5m.

Last week, it wa..

June 23, 2022

Kyrgyz parliament votes to legalise casinos and igaming for foreigners

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Kyrgyzstan’s legislature has voted to re-legalise land-based gambling and launch online casino for the first time, though all offerings will only be available to foreign players.

The bill “On Gambling in the Kyrgyz Republic” – passed on its third reading – would legalise a wide range of forms of gambling. As well as casinos, slot halls and retail bookmakers – which had all been legal in the past before casinos were banned in 2012 and the latter two banned in 2015 – online casino games will also be legal.

However, all gambling will only be available to foreign players.

Land-based casinos must only be set up in restaurants or hotel complexes. The restaurant must have at least 100 seats, and the hotel must have at least 20 rooms. Slot halls, meanwhile, must be separate rooms or buildings from any other type of business activity.

Casinos located in the Kyrgyz capital of Bishkek must have at least 10 gaming tables, while those elsewhere must have at least five. Slot halls must contain a..

May 31, 2022

Genius Sports appoints former UK Minister to advisory role

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Genius Sports has appointed former UK Minister for Sport and the London Olympics Sir Hugh Robertson as advisor to the company.

In his role, which he begins with immediate effect, Robertson will work with Genius Sports’ business advisory council, helping to identify strategic development opportunities and utilise his previous experience.

Before his new appointment, Robertson took on the role of Minister of Sport and the London Olympics in 2010. Following this he became Minister of State in the Foreign and Commonwealth Office, where he was responsible for the Middle East, North Africa and counter-terrorism.

Robertson left politics in 2015 and is currently chairman of National Lottery operator Camelot and the British Olympic Association.

“I am delighted to be taking on this new role at Genius Sports and look forward to working with the management team to build a company that is at the forefront of sports data and technology,” he said. “Now more than ever, the capture, analysis and co..

May 26, 2022

NH sports betting handle up 57.5% to $73.1m in April

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Consumers in New Hampshire wagered $73.1m (£58.2m/€68.4m) on sports during April, up 57.5% year-on-year, while revenue in the US state also edged up.

Player spending was comfortably ahead of the $46.4m that was bet in the same month last year, but 7.2% lower than the $78.8m wagered during March 2022.

DraftKings’ mobile app accounted for the majority of wagers, with a total of $60.5m bet in April, while the remaining $12.7m was spent at DraftKings-branded retail sportsbooks in Seabrook, Manchester and Dover.

In terms of revenue, this reached $3.4m for the month, which was marginally higher than $3.3m in April of 2021 but 37.7% below $5.3m in March this year.

Some $2.9m of all revenue generated in April came from mobile wagering, while $583,767 was attributed to retail betting.

The New Hampshire Lottery also revealed that the state was able to generate $1.5m in tax from sports betting during the month.

Looking at the financial year to date, player spending for the 10 months to the ..

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