Sports betting Archives - Page 59 of 60

South Dakota mobile sports betting bill passes at Senate

A bill proposing the legalisation of mobile sports wagering in South Dakota has been passed in the state's Senate.

Senate Joint Resolution 502 is set to be introduced during South Dakota’s next general election, allowing citizens the chance to vote on whether it should come to pass. The proposal was passed by a slim majority – 18 votes to 17.

Should the proposal be voted in at the general election, players will be able to place mobile wagers on sporting events, provided the platform is partnered with one of the casinos in the city of Deadwood.

The legislation stipulates that any proceeds from games of chance should be used for educational, charitable, patriotic, religious, or other public spirited uses – which include the historic restoration and preservation of Deadwood. The resolution will also allow for a state-run lottery and video games of chance.

Sports betting was legalised in South Dakota back in March 2021 after Governor Kristi Noem signed Senate Bill 44 into law, bu..

February 8, 2022

Gaming giants form new body in push for uniform standards and safeguards

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A host of real-money gambling and gaming businesses have formed the Global Gaming Alliance, a new forum that aims to address shared challenges as the market for real-money, free-to-play and console gaming evolves.

The GGA brings together real-money operators Entain and DraftKings, Facebook parent Meta, and mobile games developers 89Trillion and Habby to create a fair and sustainable industry.

The collective has published a white paper, Responsible Gaming is Everyone’s Business, which calls on gaming companies to follow best practice on issues such as diversity, transparency and player protection. In particular, the white paper highlights a need for greater diversity, more accessible and relatable games for a wider range of players, and controls to ensure play remains sustainable.

The initiative launches with the gaming sector booming. Quoting third party figures, the white paper points out that there were an estimated 2.9 billion players worldwide at the end of last year. Revenue..

February 4, 2022

Betfair and Spotlight sports group extend video content agreement

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Content and media company Spotlight Sports Group has announced it has extended its agreement with Betfair to produce live watch along video content throughout 2022.

The deal focuses on the Racing Post Live show which launched in 2020. The broadcast gives live reactions from racing experts, as well as exchange prices and tipping throughout the day’s racing.

The extended agreement will now cover key races every Saturday throughout 2022, alongside all major UK and Ireland racing festivals including Cheltenham, the Grand National and Royal Ascot.

The live show is broadcast on the Racing Post YouTube and Facebook platforms.

Discussing the new deal and some of the shows expanded features, Spotlight Sports Group’s chief commercial officer Sam Houlding said: “Our live content has grown remarkably over the past 3 years and we’re excited to be extending our partnership with Betfair.

“Racing Post Live is a firm fixture in the diary for racing fans and the show has built a very loyal followin..

February 4, 2022

Oklahoma charitable betting bill pre-filed in Senate

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A new bill pre-filed in the Oklahoma State Senate would allow for sports wagering and poker, but only if organised by private citizens or charitable organisations with prizes totalling no more than $1,000 (£739/€873)

The bill – Senate Bill 1821 – outlines that recognised charities may host wagering events on their own premises, while private citizens may host wagering events in their own homes.

Wagers would be permitted on “any challenge, match, game, race, fight or contest occurring between individuals or groups of individuals whether or not recognized as an amateur or professional sports event”, provided it is not a juvenile sports event.

In addition, wagering may be conducted on certain card or dice games including poker and dominos, but not “casino gaming” or “mechanical or electronic gaming devices”.

For private wagering events, players may not bet more than $100 per event per day.

Winnings will be subject to income tax.

Currently, no form of sports betting is legal with Okl..

February 4, 2022

Athletes Unlimited selects Sportradar to protect integrity

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Athletes Unlimited – which runs women’s professional basketball, volleyball, softball and lacrosse leagues in the US – has agreed a deal with Sportradar Integrity Services to provide services to detect and prevent manipulation of its competitions.

Athletes Unlimited chose Sportradar Integrity Services after “a competitive selection process”, allowing the data provider to use its Universal Fraud Detection System (UFDS) to monitor betting patterns and detect suspicious patterns.

In addition, Sportradar will provide education services, including webinars, about match-fixing to athletes within the leagues. It will also conduct an “integrity audit” of Athletes Unlimited’s leagues, which launched in March 2020, and will assist any investigations by Athletes Unlimited into integrity threats to its events.

“We are thrilled to partner with global industry leader Sportradar as we continue to expand our betting platform for our fans,” Nicole Pawlak, senior director of special projects for Athl..

January 31, 2022

New York online sports wagers surpass $1bn in opening 16 days

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Consumers in New York wagered more than $1.0bn (£744.5m/€895.4m) on online sports betting in the first 16 days since the state’s regulated market launched.

Players spent a total of $1.18bn in the period that the market launched on January 8 to the end of the second full week of legalization on January 23.

The New York State Gaming Commission also reported that gross gaming revenue for the period reached $91.4m.

Caesars Sportsbook, FanDuel, DraftKings and Rush Street Interactive all began operations on opening day on January 8, while BetMGM went live on January 17.

PointsBet also joined the regulated market on January 25, but as this was after the end of the 16-day reporting period, which ended January 23, it was not included in the report.

Caesars Sportsbook was the leading operator in the 16-day period, processing $487.4m in bets and bringing in $41.8m in revenue.

Flutter Entertainment-owned FanDuel ranked second with a $360.0m handle and $24.2m in revenue, then DraftKings with ..

January 28, 2022

DC sports betting revenue slips to 10-month low in December

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Gross gaming revenue from sports betting in Washington DC reached $1.4m (£1.1m/€1.3m) in December 2021, the lowest monthly amount since February of the same year.

Revenue for the month was 48.2% down from $2.7m in December 2020, while the total was also 65.9% lower than the record $4.4m set in November of 2021.

Player spending on sports betting amounted to $19.3m, which was 15.6% higher than in the previous year, but 8.5% down from November.

Gambet, operated by the DC Lottery and powered by Intralot, took top spot with $665,718 in revenue off a handle of $5.0m

Read the full story on iGB North America.

January 28, 2022

PointsBet revenue doubles, but losses also grow, in Q2

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Betting and igaming operator PointsBet’s total revenue doubled year-on-year to $90.4m in the quarter ended 31 December 2021, thanks to US growth and the addition of betting supplier Banach Technology, but losses continued to grow.

The quarter was the second of PointsBet’s 2021-22 financial year.

In total, PointsBet took in sports bets worth AUD$1.33bn in Q2, up 11.1% from the second quarter of 2020-21.
The majority of this total came from Australia, where revenue was up 33.6% to AUD$727.0m.
In the US, meanwhile, revenue was down by 9.2% to AUD$598.9m.

PointsBet revealed that during the quarter it held a 7.4% sports betting market share in the state of Illinois, 5.1% in Michigan, 3.5% in Colorado, 3.1% in New Jersey, 2.8% in Indiana, 2.3% in Iowa and 1.4% in West Virginia.

Gross sports betting revenue grew by 60.4% to AUD$133.8m with strong growth in both major markets. In Australia, the total was up by 22.2% to AUD$92.2m, while US revenue grew more than fivefold to AUD$41.6m, despi..

January 27, 2022

Genius expects positive EBITDA and $340m in revenue for 2022

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Data provider Genius Sports expects revenue to reach $340m and earnings before interest, tax, depreciation and amortisation (EBITDA) of $15m in 2022.

The business announced a number of details about its future outlook in its 2022 investor day today (27 January).

Revenue is set to reach $340m for the year thanks in part to continued growth as 2022 goes on. While revenue for Q1 is projected to be $78m and for Q2 this total is just $68m, the total then rises to $85m in Q3 and $109m in Q4, a busy period that will include both the NFL season and football’s World Cup.

Betting technology, content and services will make up the majority of revenue, bringing in $216m. SPorts technology and services will bring in $49m while projected revenue from media technology and services is $75m.

Like revenue, earnings are also expected to grow as the year goes on. The business expects to be EBITDA negative by $5m in Q1, before recording a total of in $8m in Q2, $9m in Q3 and $3m in Q4.

In 2023, the out..

January 27, 2022

Swedish government scraps deposit cap plans

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Sweden’s government has scrapped plans to impose new restrictions – including a SEK4,000 slots deposit cap – for online casino products.

The Swedish government announced earlier this month plans to reintroduce a number of temporary measures for the gambling sector, including a deposit cap, after a previous SEK5,000 cap had been in place for much of 2020 and 2021.

The cap – alongside other measures such as a SEK100 limit on sign-up bonuses – was set to be made official today (27 January) and come into force on 7 February, but the government instead opted to abandon the plan.

Gustaf Hoffstedt, secretary general of industry association BOS, which met with state secretary Alejandro Firpo earlier today, said the government made the right choice as the cap did not reduce gambling harm.

“It is a wise and well-balanced decision that the government has made,” Hoffstedt said. “Partly based on the general development of the pandemic. Partly, and above all, because precisely these restriction..

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