Sports betting Archives - Page 27 of 60

NY sets another online sports betting revenue record in October

New York set a new online sports betting revenue record for the second consecutive month in October, while the state’s handle reached its highest total since March.

Gross gaming revenue from online wagering amounted to $145.7m in October, up 1.67% from the existing record of $143.3m set in September.

Player spending also increased by 22.2% month-on-month to $1.54bn, the highest amount in seven months and the third-highest monthly total since the state launched its legal market at the start of the year.

Read the full story on iGB North America

November 14, 2022

DSWV partners IBIA to protect sporting integrity

Sports Betting News Bookiecity

The German Sports Betting Association (DSWV) and the International Betting Integrity Association (IBIA) have signed a Memorandum of Understanding (MoU) in an effort to protect sports integrity.

Under the arrangement, the DSWV and IBIA will work in partnership and coordinate their activities on betting and related integrity issues in Germany.

The two associations will bring together their expertise on activities aimed at promoting a viable regulated sports betting market in the country that has high consumer channelling and related consumer, sports and operator integrity protection measures.

“The partnership between the DSWV and IBIA is another welcome step forward for the German sports betting industry,” DSWV president Mathias Dahms said. “With its many years of international experience and expertise in the field of sports integrity, the IBIA will support us in strengthening the regulated market and protecting it from manipulation.

“We therefore look forward to many joint projects..

November 11, 2022

The US midterms and what they mean for the industry

Sports Betting News Bookiecity

This year’s US midterm elections have plenty riding on them for the industry.

iGB has put together a panel of experts to discuss the fallout for US sports betting, online casino and land-based gaming.

California dreaming

A clash of the titans in California looks set to end in disappointment for both sides. There’s still much to discuss, namely whether an immovable force and an unstoppable object can reconcile after a bruising campaign. And more importantly, when will legal betting actually come to the Golden State?

State elections to watch

Developments in several state legislatures could also have a game-changing impact for US gaming regulation. Sports betting and casino hangs in the balance in Georgia, while Minnesota candidate Scott Jensen has voiced support for legal wagering.

Then in Oklahoma, Governor Kevin Stitt may have his second term denied by disputes over tribal gaming.

That’s not even mentioning potential developments in Kentucky, Missouri, and Virginia. In a number ..

November 10, 2022

Genius posts strong revenue growth as US expansion continues

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Sports data business Genius Sports reported $78.7m (£67.5m/€77.4m) in revenue for the three months ending 30 September.

Total group revenue for Genius increased 28% year-on-year in constant currency. On this basis, the business’ three verticals experienced strong growth themselves with betting revenues rising by 13%, media by 41% and sports by 6%.

In adjusted earnings before interest, tax, depreciation and amortisation (EBITDA), the business achieved profitability, reporting $7.7m compared to the $392,000 loss Genius announced the same period the previous year.

“We are pleased to deliver another quarter of growth and group adjusted EBITDA profitability, and we remain on target to achieve our full-year goals set on our investor day at the start of 2022,” said Genius CEO Mark Locke. “This year has been characterised by strong execution as we continue to deploy innovative technology, win new customers and strengthen our key partnerships across the sports, betting, media and broadcastin..

November 9, 2022

AGA: Q3 US gaming revenue hits record $15bn

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US gaming revenue reached a record $15.17bn (£13.31bn/€15.1bn) in Q3, an all-time quarterly high, according to the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker.

This is a 2% increase on the previous record of $14.81bn reached in the preceding quarter. Subsequently, 2022 is set to surpass 2021 as the highest grossing year of gaming revenue, already at 14.7% ahead of the same period the previous year. The total for the first nine months of the year is also ahead of 2019’s full-year revenue.

“While business challenges remain, high consumer demand continues to fuel our industry’s record success,” said AGA president and CEO Bill Miller. “Our sustained momentum in the face of broader economic volatility points to gaming’s overall health today and provides confidence as we look to the future.”

The industry’s year-on-year Q3 growth rate of 8.8% outperformed the broader US economy’s 2.6% growth rate in the same period.

[Read full story on iGaming Business]

November 9, 2022

STS launches “real-time” personalisation products with Future Anthem

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Polish operator STS and AI supplier Future Anthem have together launched a new real-time personalisation product for sports betting.

Through a new agreement, STS will use “real-time exit prediction to fully automate their bonusing and player communications the moment a player’s bet settles”.

Future Anthem said that the new product was delivered within 12 weeks of receiving the necessary data.

Future Anthem CPO Ian Tibot said that lots of businesses in the sports betting space have discussed personalisation, but none had developed products that truly offered personalisation.

“Personalisation in the sports betting industry is a word that has been used for a long time but has never become a reality,” he said. “As a part of our successful Series A funding round this year we were clear in our ambition to lead the industry’s evolution towards delivering personalised player experiences.

“Our vision has been perfectly complemented by the ambition of STS to commit to a real-time personalis..

November 8, 2022

Gambling Commission lifts Lebom suspension after Gamstop integration

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The Gambling Commission (GC) has lifted football prediction and betting operator Lebom Limited’s licence suspension after the company integrated with self-exclusion scheme Gamstop.

Lebom had its licence suspended on 3 November after failing to integrate with Gamstop’s self-exclusion platform. Since March 2020, It has been a mandatory requirement for operators to integrate with the service and to refuse custom to registered participants.

“Gamstop provides a crucial service for people who feel they are suffering gambling harm,” said Gambling Commission executive director of operations Kay Roberts. “It is simply unacceptable for any online operator to fail to integrate with the scheme.”

Following Lebom’s failure to register with Gamstop, the the Gambling Commission undertook a review of the business’ licence under section 116 of the 2005 Gambling Act. While it is unclear whether this process has completed, the lifting of the suspension is certainly a step forward for the business as it..

November 8, 2022

Fandex receives patent for fantasy sports stock exchange

Sports Betting News Bookiecity

Free to-play fantasy sports stock exchange Fandex has taken a step forward towards securing its intellectual property, announcing today that it has received a US patent for its platform.

The United States Patent and Trademark Office (USPTO) granted US patent No 11,436,674 to the fantasy business which covers certain aspects of the company’s fantasy sports team and player stock exchange.

“This is a huge moment for us here at Fandex as our team has worked hard since 2017 to create this patented platform and we look forward to speaking with the market leaders in igaming to discuss licensing and other partnerships” said Matt D’Alessandro, CEO of Fandex. “The patent not only adds to our intellectual property portfolio covering our novel fantasy sports exchange, but it also strengthens our competitive advantage.”

D’Alessandro outlined the business’ future IP strategy.

“We have additional patents pending as part of our IP protection strategy, and we will continue our innovation efforts to..

November 7, 2022

Laila Mintas announces new venture, PlayEngine

Sports Betting News Bookiecity

Former PlayUp US chief executive Laila Mintas has co-founded a new venture, PlayEngine, and joined as chief executive.

The new business is a “microservices-based” B2B sports betting and igaming platform. The business said that it will “provide its customers with a tailor-made, individual solution that is reliable, scalable, fast and secure”.

Its sportsbook offering will allow clients to accept payments from cryptocurrency as well as fiat money and will include a “travelling wallet” to allow players to use the same wallet in different jurisdictions.

PlayEngine was initially created through the Berkeley Skydeck startup incubator.

“I am very excited about being a co-founder and the CEO of PlayEngine,” Laila Mintas said. “The sports betting and igaming market is just too competitive to work off legacy tech.

“There is a huge need for agile and modern technology and I truly believe that we have the most automated and data-driven product in the market, which will enable the sportsbettin..

November 7, 2022

The 2022 US midterm elections: What we are watching

Sports Betting News Bookiecity

As the US goes to the polls for the midterm elections, there are plenty of races that could affect the progress of sports betting regulation and gaming expansion. Paul Girvan picks out the states to watch.

The 2022 US midterm elections, while important in so many ways, contain few issues directly related to gambling regulation.

Rather, they represent an opportunity to extract a thorn that has irritated the body politic and coloured the consideration and adoption of more gaming legislation, whether it be sports betting legislation or casino regulation.

Only in two states does gaming appear directly, or indirectly, on the ballot: California and Georgia.

California

In California, a statewide ballot measures voter approval for constitutional changes, through Propositions 26 and 27.

Polling suggests both the tribal and commercial sports betting ballot measures are doomed to fail.

Prop 26 permits Native American casinos and four..

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