Betting News – Page 14 – FairOdds Network

June 18, 2024

FanDuel: We’ll exit lottery contract if DC Council approves open marketplace

FanDuel would opt for a lower tax rate and walk away from its lottery contract in Washington, DC if the DC Council approves an open marketplace. President Christian Genetski wrote a letter earlier this month to DC Council chairman Phil Mendelson explaining his company's stance.

The DC Office of Lottery and Gaming (OLG) in March revealed that Intralot, the company that ran the GamBetDC platform, planned to take down the platform and subcontract with FanDuel. The news came as a surprise to the DC Council at that time. But bettors welcomed the change.

GamBetDC was fraught with usability errors and other issues from its May 2020 launch. In four years as the only mobile platform available throughout the city, GamBetDC underperformed. In that time, the District netted $4.3m in tax revenue from it.

OLG operators are taxed at 40%. In an open market, under the proposed amended law, operators would be taxed at 20%. FanDuel paid the city $1.9m in tax revenue in its first 30 days of ope..

June 18, 2024

Ohio regulator on track to change advertising, integrity monitoring rules

On Tuesday (18 June) morning the Ohio Casino Control Commission (OCCC) continued to refine its rules, approving a change to its advertising and promotional rules and expanding the scope of what integrity monitors may do. At about the same time, Michigan regulators said they weren't “trying to shut down” amusement businesses.

Both of Ohio’s amended rules must still go through the state’s Common-Sense Initiative office and the legislative Joint Committee on Agency Rule Review. The proposals would go before the OCCC again later this year before final approval.

In Ohio, which already has some of the most stringent advertising and marketing rules, the OCCC voted to ban gambling companies from offering promotions as part of a “non-gaming, consumer transaction”. The prohibition would apply to consumers under the age of 21, the legal age for gambling.

This would mean, for example, that a company like Fanatics Sportsbook could not offer promotions to a high-school aged customer buyin..

June 18, 2024

How the sector is tackling competition this sporting summer

A packed sporting schedule means there are plenty of opportunities for gambling companies this summer to engage and target new customers. iGB spoke to a few industry leaders on targeting new betting markets and unique products helping them to stand out from the crowd.

Operators Betfred and Paddy Power and betting engine supplier Kambi are among those looking to capitalise and make significant revenue and customer gains throughout the packed summer sporting schedule, which is certain to excite sports fans.

The Euro 2024 kicked off on Friday and the Copa América starts this week, while the Olympic Games is set to take place in Paris as of 26 July with Wimbledon and the US Open to come in July and August.

The opportunity for the sports betting sector is clear, as more traction from these events will lead to increased activity across betting sites and ultimately more financial gain.

According to French gaming regulator L’Autorité Nationale des Jeux (ANJ), the country could see close t..

April 15, 2024

New Hampshire sports betting handle halts decline in March

New Hampshire’s sports betting handle reached $72.6m (£58.2m/€68.2m) in March, ending a run of three straight months of decline.

In March, New Hampshire reported a 16.5% month-on-month increase in sports betting handle, likely boosted by the March Madness NCAA tournament.

New Hampshire had previously seen its handle drop for three consecutive months, even with the Super Bowl in early February.

New Hampshire’s March figures were aided by its mobile sector, with online accounting for $65.0m in bets taken, or 89.5% of the monthly total, having recorded a handle of $55.9m in February.

Retail handle also increased, jumping 18.8% to $7.6m from February’s figure of $6.4m.

New Hampshire revenue down despite handle rise

Although New Hampshire’s handle ended its slide, revenue continues to falter in the Granite State.

March’s gross gaming revenue stood at $5.6m, the third-lowest in its FY2024 and the lowest since August 2023, prior to the NFL season getting underway.

Consequently, the se..

April 15, 2024

FanDuel likely has two-year head start on competition in Washington, DC

Buried in the minutiae of a 10 April budget meeting, Washington DC's Office of Lottery and Gaming (OLG) revealed that it is preparing to ask the DC City Council to approve a two-year extension to its deal with lottery and sports betting operator Intralot.

To recap, the OLG in March alerted the DC Council that it would be unwinding its chronically underperforming sports betting platform, GambetDC. The platform is run by lottery vendor Intralot.

Under its existing contract, the agreement will expire on 14 July. In March, OLG approved Intralot’s request to subcontract online sports betting to FanDuel.

Now the agency will request a two-year extension for the soon-to-expire deal. If approved, the deal could mean that FanDuel would have a two-year head start on digital sports betting in the District.

That two years, lottery chief Frank Suarez told the DC Council’s Committee on Business and Economic Development, would allow it enough time to issue an RFP (request for proposal). This ..

April 15, 2024

Tennessee market bounces back in March as gross wagers hit $473.6m

Gross mobile sports betting wagers in Tennessee increased 20.6% year-on-year to $473.6m (£379.7m/€444.4m) in March, halting three consecutive months of decline.

The monthly total was some way ahead of the $392.7m wagered in Tennessee in March last year. It was also 25.2% more than the $378.2m spent by players in February of this year.

However, the March total was some way short of the record in Tennessee. Players wagered an all-time monthly high in November 2023.

After taking into account $1.6m in adjustments, cross handle for Tennessee in March was $472.0m.

In terms of privilege tax from sports betting, the state collected a total of $8.7m. This was up 24.8% from February’s $7.0m but 0.5% down on the previous year, despite the handle rise.

The Tennessee Sports Wagering Council does not publish data regarding monthly revenue, nor any information on individual operator performances.

Who is active in Tennessee?

While data on Tennessee is limited, the Volunteer State does feature s..

April 15, 2024

Indiana betting handle falls just short of monthly record in March

Players in Indiana spent $500.8m (£401.9m/€470.1m) betting on sports during March, an improvement on last year and only narrowly lower than the state’s monthly record.

Handle was 15.7% higher than $433.0m in Indiana in March last year and 22.5% more than $408.7m in February. The total was also just 2.5% behind the all-time monthly high of $513.7m posted in November 2023.

Basketball again proved the most popular sport to wager on, drawing a total of $167.9m in total bets in March. The state is home to National Basketball Association team the Indiana Pacers.

In contrast, $9.9m was wagered on baseball and just $1.7m American football. A further $173.0m was bet on other sports and $148.1m parlay bets.

Indiana revenue dips to $39.4m

While handle was higher year-on-year, the same could not be said for revenue. In total for March, taxable adjusted gross revenue amounted to $39.4m.

The monthly revenue total was 7.9% lower than $42.8m in March 2023 and only 3.7% more than $39.0m in Februa..

April 12, 2024

Ex-Ohtani interpreter Mizuhara out on bond in illegal wagering case

Ippei Mizuhara, the Japanese-language interpreter who formerly worked closely with Los Angeles Angels and Dodgers star Shohei Ohtani and is accused of stealing $16m to cover gambling debt, appeared in federal court on Friday (12 April) and was released on $25,000 bond.

According to a tweet from The Athletic’s Sam Blum, Mizuhara was shackled entering court.

The interpreter is being charged with federal bank fraud, which carries a penalty of up to 30 years in prison. His arraignment in the illegal wagering case is scheduled for 9 May.

Late on Thursday (11 April) Mizuhara turned himself into federal authorities, according to the US Attorney’s office. According to an affidavit filed on Thursday, Mizuhara stole from Ohtani to pay off debts he incurred betting with an illegal bookmaker in Orange County, California. Sports betting is illegal in California.

During the two-year ordeal, Mizuhara bet hundreds of millions of dollars. He also systematically transferred access to Ohtani’s acc..

April 12, 2024

State of the Union: A look at the week that was in North America

Welcome to iGB's State of the Union, a look at the biggest North American sports betting stories we've covered over the week and briefs on others we found interesting.

Bally Bet aiming for June Massachusetts launch

Saying “our commitment is strong here”, on Thursday (11 April) representatives from Bally Bet told the Massachusetts Gaming Commission that it is aiming for a late June launch in the Bay State. Bally’s had previously promised a “late Q2” launch, but hadn’t put a date on it. The company has had a temporary sports betting licence in the state since early 2023. When Bally Bet launches it will bring the total number of digital platforms available in Massachusetts to seven after Betr and WynnBet exited the state earlier this year.

“Having someone that we’ve started with the licensing process, a group come in and actually get going, is exciting to us,” interim MGC chair Jordan Maynard said during the meeting.

SCOTUS grants extension in Florida sports betting case

T..