Sports betting Archives - Page 54 of 60

ATG and Swedish Equestrian Federation extend 50-year partnership

Swedish operator AB Trav och Galopp (ATG) has extended its sponsorship agreement with the Swedish Equestrian Federation, continuing to build on a partnership that will now extend past 50 years.

The partnership has been extended for a further four years, and will continue to focus on para-dressage, equestrian development and ATG’s jumping series, the ATG Riders League.

“We want to be involved in developing Swedish equestrian sports, and together with the Swedish Equestrian Federation we have found a good way forward,” said Maria Guggenberger, sustainability manager at ATG. “Therefore, we will continue to focus on para-dressage and equestrian development through ATG Talang.”

“We have also ensured a continuation of the national jumping series ATG Riders League for the next four years.”

Camilla Sand, communications and marketing manager at the Swedish Equestrian Federation, praised the longevity of the partnership.

“The long collaboration with ATG is something we are incredibly proud ..

March 11, 2022

Inspired revenue grows in Q4 but business swings to loss

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Inspired brought in $67.0m (£51.2m/€61.0m) in revenue in Q4 of 2021 as all business segments experienced growth of more than 25%, but the supplier swung to a loss after a VAT rebate helped its 2020 bottom line.

This revenue figure was up 70.9% from 2020’s ordinary revenue from operations, but was down by 6.6% if the VAT rebate during the comparable period is included.

The gaming segment – made up of land-based slot machines – was the largest contributor to revenue, bringing in $26.8m, up 49.3%.

However, its leisure segment experienced the most rapid growth, with revenue up 183.4% to $23.5m.

Virtual sports revenue, meanwhile, was up 26.1% to $11.0m, while interactive gaming revenue grew by 35.8% to $5.7m.

During Q4 of 2020, the gaming division of the business also received a one-off $32.5m value-added tax (VAT) rebate after a court ruling determined that operators did not have to pay VAT on top of gaming taxes for machines, though this was not counted as revenue for that quarter. I..

March 11, 2022

FanDuel expands sports betting into Wyoming

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Flutter Entertainment-owned FanDuel Group has extended the reach of its sports betting offering by launching its mobile sportsbook product in Wyoming.

Players in the state can place a range of wagers on professional and college sports such as football, basketball, baseball, hockey, golf, mixed martial arts, boxing, soccer and tennis.

Other features on the FanDuel Sportsbook app include Same Game Parlay Plus, where players can combine Same Game Parlay bets from one game with bets from other games.

Wyoming becomes the 15th US state in which the FanDuel Sportsbook app has gone live, following launches in Arizona, Colorado, Connecticut, Illinois, Indiana, Iowa, Louisiana, Michigan, New Jersey, New York, Pennsylvania, Tennessee, Virginia, and West Virginia.

Sports betting was legalised in Wyoming in April last year after Governor Mark Gordon signed House Bill 0133 into law. Its market then launched on September 1.

FanDuel’s Wyoming launch comes after the brand last week launched a new ..

March 11, 2022

Scout CEO orders cost review after “unsatisfactory” Q4

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Andreas Ternström, chief executive of fantasy gaming provider Scout Gaming Group, said the business would initiate a cost review after he was “not at all satisfied” with the supplier’s slow growth and rising expenses in Q4.

Revenue ticked slightly upward to SEK17.1m, after revenue of SEK16.9m in Q4 of 2020.

Expenses, meanwhile, more than doubled to SEK51.0m.

Personnel expenses grew to SEK13.7m, but most of the growth was in other external expenses, which were up 148.5% to SEK34.3m. Ternström said the increase in other costs was mostly related to marketing, plus a one-off SEK18m cost after expenses for tournament participation tickets had been “wrongly accounted for” in prior periods.

If the errors had been attributed to these previous quarters instead, expenses would have come to SEK33.1m.

Depreciation and amortisation also grew, by 50.2% to SEK3.1m.

As a result, the business made an operating loss of SEK33.9m, which was more than five times its operating loss in 2020.

After a ..

March 10, 2022

Staking a claim to betting: The transition from online casino to sports

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Join Champion Sports for a best-practice guide on launching sports betting to complement your online casino offering.

As the global igaming industry becomes increasingly competitive, acquisition costs are reaching unprecedented levels as operators fight for market share. At the same time, consumers remain promiscuous and operators are struggling to extract the maximum lifetime value out of the players they have acquired, often at great expense.

This means single-vertical offerings for online casino are increasingly rare. Players want more, and if products are unavailable, they could move to a competitor. Do you really want to acquire a customer who then jumps to a competitor and stays there?

A key tactic to expand beyond casino is to move into sports betting. Not only will operators be able to offer casino players the opportunity to bet on sports, they can also unlock other upsides such as additional marketing opportunities, increased cross-sell, greater stickiness and more.

But la..

March 10, 2022

Oregon online sports betting handle reaches $39.5m in February

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Players in Oregon wagered $39.5m (£30.0m/€35.8m) on sports online during February, while gross gaming revenue from sports betting reached $3.3m for the month.

The amount spent during February was 33.5% higher than in the same month last year but 7.9% behind the record $42.9m set in January of this year.

The Oregon Lottery, in partnership with DraftKings, is the only licensed operator of online sports betting in the state.

The lottery’s current Scoreboard online sportsbook, powered by DraftKings through its SBTech division, is currently being phased out in order to be replaced by the standard DraftKings sportsbook. This process began on January 18, with players able to create a new DraftKings account and move funds across.

As such, the monthly results were split in half to show activity on the DraftKings sportsbook and from any remaining players still with Scoreboard.

Spending with DraftKings in February amounted to $39.2m, while the remaining $273,328 was wagered through Scoreboar..

March 9, 2022

Arizona falls just short of $500m sports betting handle in December

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Players in Arizona bet a record $499.2m (£379.4m/€455.1m) on sports in December 2021, though gross revenue fell 23.1% month-on-month.

Wagering was up 7.0% month-on-month from $466.7m in November, with the state’s handle split $494.5m for online bets and $4.7m at retail sportsbooks.

Consumers won a total of $454.9m from mobile betting and $4.5m from retail wagering.

As a result, despite this higher spending, gross revenue before free bets fell from $50.2m in November to $38.6m in December.

After accounting for $21.3m worth of free bets – almost all of which were distributed to online players – taxable revenue was $17.3m, down 45.6% month-on-month.

DraftKings led the way in December after taking $146.0m in total bets, followed by Flutter Entertainment-owned FanDuel Group on $128.5m, the BetMGM with $103.8m.

In terms of gross revenue, DraftKings also ranked first on $11.0m, ahead of FanDuel with $10.7m and BetMGM on $8.8m.

After taking away free bets, FanDuel was top with $7.2m in ..

March 8, 2022

Rhode Island sports betting handle hits $58.6m in January

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Consumers in Rhode Island spent $58.6m (£44.8m/€53.8m) on sports betting in January, the second-highest monthly total since legalisation in November 2018.

The January figure was 47.2% higher than the $39.8m wagered in the same month last year and 6.7% more than $58.6m in December 2021. The total was also just short of the $60.2m record set in October of last year.

Online betting accounted for $33.5m of all wagers placed in January, while the remaining $25.1m was bet at retail sportsbook facilities at the Twin River and Tiverton Casino sites.

Twin River was again the main venue of choice for players with $18.8m wagered during the month, compared to $6.3m at the Tiverton Casino.

Revenue for the month amounted to $5.2m, up 40.5% year-on-year and also 334.2% more than $1.2m in December last year.

Mobile revenue amounted to $2.9m in January, while retail revenue reached $2.3m, split $1.6m at Twin River and $756,664 at the Tiverton Casino.

Figures from the Rhode Island Lottery also rev..

March 8, 2022

Betfred expands US presence with sports betting launch in Arizona

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The Betfred USA Sports division of Betfred Group has launched mobile sports betting in the state of Arizona through a partnership with tribal facility the We-Ko-Pa Casino Resort.

Players in Arizona can now download the Betfred Sports-branded app and place pre-event and in-play bets on a wide range of professional and college sports competitions.

The launch comes after Betfred agreed a market access deal with We-Ko-Pa in August of last year.

The app will support an existing retail sports betting offering at a temporary facility at the WKP Sports & Entertainment Sports Bar, with a permanent sportsbook scheduled to open at the We-Ko-Pa Casino later this year.

“Three months ago, the We-Ko-Pa Casino Resort and Betfred Sports introduced sports betting kiosks at our beautiful desert gaming destination, and most recently opened a temporary full-service sportsbook,” We-Ko-Pa general manager Mary Ketterling said.

“Adding mobile apps is one more way we can offer Arizonans an easy, user-frien..

March 7, 2022

New Yorkers spend $1.54bn on internet sports betting in February

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Consumers in New York staked a total of $1.54bn (£1.17bn/€1.42bn) on internet sports betting in February, while gross gaming revenue from online wagering reached $91.7m.

The amount bet during the period from 31 January to 27 February, which included the Super Bowl, was 5.5% lower than the $1.63bn spent in the opening 23 days of the state’s legal market.

New York launched legal online sports betting on 8 January and the total wagered in the first 23 days of operation comfortably surpassed the US monthly handle record of $1.30bn set by New Jersey in October last year.

Gross gaming revenue from sports betting in February was also 18.9% lower than $113.0m in the opening period for the state’s legal market.

February included figures from Caesars Sportsbook, FanDuel, DraftKings and Rush Street Interactive, all of which began operations on opening day in New York, as well as BetMGM, which went live on 17 January, PointsBet on 25 January and WynnBet on 2 February.

Flutter Entertainment-ow..

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