Sports betting Archives - Page 26 of 60

BetRivers and Gambling.com Group reveal Maryland launch plans

Rush Street Interactive-operated BetRivers and affiliate business Gambling.com Group have both announced they will fully launch in Maryland when the state’s legal sports betting market opens tomorrow (November 23).

BetRivers commenced a short soft launch yesterday (November 21), with this to also run for a period today, prior to the operator launching in full tomorrow subject to final regulatory approvals.

The online launch will support the operator’s retail sportsbook, which opened in Baltimore in August following the legalisation of in-person betting in December last year.

Read the full story iGB North America.

November 21, 2022

Oregon posts record sports betting revenue and handle in October

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Sports betting revenue and handle in October reached new monthly highs during October, according to the latest figures published by the Oregon Lottery.

Player spending in October amounted to $55.6m (£47.1m/€54.3m(, which was 29.6% higher than the existing record of $42.9m set in April this year.

The figure was also 47.9% ahead of $37.6m in October last year and 41.5% up from $39.3m in September this year.

Read the full story on iGB North America.

November 21, 2022

Mississippi sports betting handle reaches $56.2m in October

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Consumers in Mississippi wagered $56.2m (£47.6m/€54.8m) on sports during October, a 32.7% drop on last year but an improvement on the amount bet in September this year.

The monthly handle was some way behind the $83.5m bet during October 2021, but 30.4% higher than $43.1m in September 2022.

Lower spending year-on-year also meant revenue fell 15.4% from $9.1m last year to $7.7m, while this figure was also 12.5% lower than $8.8m in September this year.

Read the full story on iGB North America.

November 18, 2022

Betfred and DraftKings launch sportsbook products in Maryland

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DraftKings and Betfred have become the latest operators to announce their entry into the Maryland sports betting market.

Betfred’s physical sportsbook will go live from today (November 18), while DraftKings’ sportsbook app is set to launch on November 23.

Both operators completed the mandatory early access test period, a measure implemented by the Maryland State Lottery & Gaming Control Agency, and paid the $500,000 application fee.

Read the full story on iGB North America.

November 18, 2022

Global regulators release joint World Cup statement

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Regulators from France, Germany, Portugal, Spain and Great Britain have released a joint statement before the World Cup begins on 20 November, reminding operators to keep responsible gambling and player protection in mind as the tournament runs.

The regulators met in Paris, France on 15 November. L’Autorité Nationale des Jeux (ANJ), the gambling regulator for France, said that the meeting saw a number of key issued being discussed that would affect betting during the World Cup.

“This meeting was an opportunity to address several topics, including the fight against illegal offers and the protection of players and advertising during the World Cup,” read the statement.

“On the latter topic, regulators agreed to commit to working together to closely monitor gambling operators’ compliance with advertising, betting integrity and consumer protection regulations during the World Cup.”

Earlier this month, a number of operators and advertisers signed four charters in France, which committed ..

November 17, 2022

KSA to investigate illegal affiliate sites targeting self-excluded players

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The Dutch Gambling Authority (KSA) has announced that it has initiated an investigation into affiliate marketing sites that target vulnerable consumers.

The KSA said that its attention had been drawn to a number of affiliate sites that had been created with the seeming intent of circumventing regulated offerings and directing consumers to gambling sites that do not abide by Dutch gaming law.

The KSA provided examples of such sites with domain names including phrases such as casinozondercruks (“casino without cruks,”) and casinozondervergunning (“casino without licence”). The Centraal Register Uitsluiting Kansspelen (Cruks) is the Dutch self-exclusion platform that allows players who have experienced harm from games of chance the opportunity to put themselves on a blacklist preventing them from accessing certain sites for a pre-designed time period set by the user.

The KSA has cracked down on affiliates before, taking action against 15 sites in December 2021.

Cruks integration

Und..

November 17, 2022

Codere Online losses widen despite revenue growth

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Online gaming operator Codere Online has announced that losses increased 73% quarter-on-quarter from €6.7m (£5.8m/ $7.0m) to €11.6m in Q3 despite revenue growth on both a sequential and annual basis.

Much of the increased losses can be explained by increased marketing spend. Codere spent €5m more on marketing in Q3 than it did in Q2, with an increase from €19.3m to €24.3m. Other costs remained largely static quarter-on-quarter.

Total revenue increased to €28.9m in Q3 2022, a 51% year-on-year increase, while net gaming revenue increased 54% to €30.6m. This compares with the €27.4m in total revenue and €29.2m in net revenue the company received in the preceding quarter. The increased losses can be explained by revenue not increasing at the same speed as marketing spend.

Moshe Edree, CEO of Codere Online, said this growth was driven primarily by the company’s continued expansion in its critical markets of Mexico and Spain, which make up the majority of the business’ total revenue.

November 16, 2022

Sportradar raises guidance after US segment turns Q3 profit

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Sportradar raised its full-year guidance after it reported a 30.7% revenue increase to €178.8m and said its US segment turned a profit in Q3.

Sportradar reported that revenue from the United States was up by 61.2% to €31.6m.

“This growth was driven by a strong increase of US betting services, driven by cross-selling non-data products to betting operators as well as benefiting from our customers’ growth as a result of a development in the underlying market and new states legalising betting,” the group said.

Rest-of-world betting services was the largest segment of the business, with revenue up 28.4% from Q3 of 2021.

This, Sportradar said, was mostly due to clients using more products in which Sportradar receives a higher revenue share, such as as managed betting services.

“This growth was driven primarily by increased sales of our higher value-add offerings including managed betting services, which increased 84% to €38.2 million, and live odds services, which increased 12% to €27..

November 16, 2022

Codere Q3 revenue hits pre-pandemic levels thanks to strong LatAm growth

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Spain, Italy and Latin America-facing gaming business Nueva Codere’s Q3 revenue increased 47.2% year-on-year to €343.4m (£300.7m/ $357.8m), recovering to pre-pandemic levels.

The robust revenue growth is mainly due to the lifting of Covid-19 restrictions in venues, ensuring a rebound for Codere in almost all markets.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 74.8% to €57.4m from €24.6m in the same period the previous year. Codere’s potent performance in Argentina and other Latin American countries is one important factor in this result.

The company’s adjusted EBITDA margin also rose 2.6% to 16.7% in the three-months leading to 30 September compared to the same period of 2021.

Codere country totals

Revenue jumped for Codere in all Latin American markets – most dramatically in Argentina where it increased 146% year-on-year to €98.6m, 122% of the pre-pandemic total. One important factor is that average player spend per visit has incr..

November 15, 2022

Peru igaming regulations ban free bets, mandate supplier registration

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Peru will ban free bets and demos, as well as mandating registration for suppliers, as part of its effort to regulate online gambling.

The detail comes as part of Peru’s efforts to regulate online betting and igaming. The country’s Congress unanimously voted for a bill to regulate the sectors in July, which was then signed into law in August, coming into effect 60 days later.

The law names the Ministry of Foreign Trade and Tourism of Peru (Mincetur) as the country’s official gambling regulator.

As regulator, the body established a number of rules that will apply to operators in the market, including a ban on free bets and supplier registration requirements.

These rules are subject to a consultation, with stakeholders able to submit their opinions until 2 December.

Free bet ban

The regulations state that operators may not offer any type of remote betting or gaming for free, whether this is for promotional purposes or for education such as through a demo of a game.

If an operator ..

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