Betting News – Page 56 – FairOdds Network

November 10, 2023

IGT enters Puerto Rico online sports betting market with Ponce Plaza

International Game Technology (IGT) has partnered with Ponce Plaza Hotel & Casino to launch online and retail sports betting in Puerto Rico.

Under the technology and services agreement, IGT will use its PlaySports solutions to power the Ponce Plaza sports betting offering. Ponce Plaza is located in the city of Ponce on the Puerto Rico southern coast.

IGT and Ponce Plaza will jointly launch Puerto Rico’s first casino brand-led retail and mobile sportsbook. Sports betting will be delivered as ‘PlayBets by Ponce Plaza’.

The agreement expands on an existing partnership between the two parties. IGT has been providing gaming equipment to Puerto Rico’s Ponce Plaza for a number of years.

“Ponce Plaza Hotel & Casino has been serving the local community since 2008,” Ponce Plaza general manager Ramon Muñoz said. “We could not be prouder to be the first casino operator in Puerto Rico to run and operate its own sportsbook and to give sports fans an amazing betting experience backed by a local ..

November 10, 2023

Lithuania revenue up to €161m in first nine months after online growth

Gross gambling revenue (GGR) in Lithuania increased by 15.2% year-on-year to €161.0m (£140.8m/$172.1m) during the nine months to 30 September, driven by growth within the remote gambling sector.

Revenue was comfortably higher than the $139.8m reported in the same period last year. The Gaming Control Authority, which regulates gambling in Lithuania, recorded growth across both the online and land-based markets.

Remote gambling led the way with €107.0m in GGR, up 24.4% from €86.0m last year. Land-based gambling GGR also edged up 0.4% to €54.0m for the period.

Lithuania online slots revenue exceeds €72m

Online slot machines generated the most revenue during the nine-month period. GGR from Category A online slots reached $69.5m, up 33.7%, while Category B slots GGR increased 18.2% to €2.6m.

Total GGR from online slot machines for the reporting period amounted to €72.1m.

As for other online revenue, sports betting revenue fell 1.1% to €26.1m but table games GGR climbed 63.0% to €8.8m…

November 10, 2023

NCAA football payouts cost Colorado in September

Colorado sportsbooks welcomed the return of the National Football League (NFL) in September, but NCAA football cost them dear.

Handle in Colorado was up 14% year-on-year to $512.8m. The monthly sports betting spend surpassed the $306.1m wagered in August this year by 67%.

However, gross gaming revenue (GGR) of $45.3m was down on the $51.3m generated in September 2022. This was due in the main to unfavourable results in NCAA football, which barely broke even after payouts to players. Sportsbooks were up around $4m from NCAA football during the same month last year.

Total win percentage of 8.8% during the month was well down on the 11.4% of September 2022.

A total of $507.9m was bet online during September, with the remaining $4.9m wagered via retail sportsbooks. Online betting was up 14% year-on-year.

NFL football was the most popular sport to wager on in the home state of the Denver Broncos, accounting for around 30% of the total. The $157.4m it drew in bets was up on the $145m wa..

November 9, 2023

Stake acquires Betfair Colombia

Cryptocurrency betting and gaming operator Stake.com has acquired Betfair Colombia, which sees the brand enter the market via the acquisition of Betfair's licence.

The licensing approval, granted by ColJuegos, the Colombia regulator, lasts until 2025.

“Expanding into the Colombia market is a strategic decision that aligns perfectly with our vision for growth and innovation,” said Brais Pena, chief strategy officer at Easygo, the founder of Stake.com.

“Colombia’s position as the first regulated market in Latin America makes it an ideal destination for Stake’s expansion, with the intention of being one of the dominant players in the market in two years.”

Plans beyond Colombia

With Stake acquiring Betfair Colombia, the operator plans for Colombia to serve as its base for growth throughout Latin America, with its current licence approved until 2025. This follows Betfair’s initial launch on the market in Latin America’s second-largest market in 2020.

In total, Coljuegos has i..

November 8, 2023

West Flagler files motion to suspend Hard Rock Bet in Florida

Pari-mutuel betting operator West Flagler Associates has filed a motion in Florida's Supreme Court to suspend Hard Rock Bet and its online sports betting offering in the state.

Hard Rock Bet, which is operated by the Seminole tribe, launched in Florida yesterday (7 November). Early access is available to players who bet previously with the operator and members of Hard Rock’s loyalty scheme.

However, the launch has been met with a legal challenge by West Flagler. A motion filed with the Florida Supreme Court requests it to expedite the exercise of its all writs jurisdiction to immediately suspend online sports betting.

West Flagler says the suspension should last until a final ruling on its petition for writ of quo warranto.

West Flagler: suspension the “only remedy”

“This launch was not previously announced and came as a surprise,” West Flager said. “On 1 November, the tribe announced that commencing 7 December it was commencing the games authorised by the 2021 compact at its..

November 8, 2023

Elys set for US mobile sports betting debut with Caesars in Colorado

Elys Game Technology has struck a market access agreement with Caesars Entertainment in Colorado, in a deal that will mark its entrance into the North American mobile sports betting market.

Under the arrangement with Caesars, Elys will launch in Colorado via its new SportBet.com brand. Elys has not stated when it intends to go live in the state.

SportBet.com will run in Colorado using 5D by Elys technology and offer players access to a range of betting options. The Colorado launch remains subject to regulatory approvals in the state.

Elys plans to build on this initial roll out by launching the SportBet.com brand in other US states. This will also be done through market access partnerships, but Elys did not state which markets it could target.

Elys expects rapid adoption of new sports betting product

“We are focused on converting recent investments in technology and infrastructure into revenue-generating business in the US,” Elys executive chairman Mike Ciavarella said.

“Our me..

November 7, 2023

EveryMatrix winning streak continues as casino record broken again in Q3

EveryMatrix generated record net revenue in its latest trading period with huge gains across both its casino and sports verticals.

EveryMatrix saw revenue up 79% year-on-year to €60m ($64.2m/£52.1m) during the three months to 30 September. Net revenue reached a record €27.2m, which was up 62%, and with a three-year CAGR of 47%.

The technology supplier’s success was driven by strong growth across business segments. It was yet another record quarter for casino, with operator clients generating €463m in gross gaming revenue (GGR), up 77%. Sports turnover surged by 85% to €810m, and GGR increased by 26%. This is despite headwind from exchange rate effects, sports results and increased odds promotion from its large clients.

This is the third consecutive quarter with organic net revenue growth above 50%.

EveryMatrix sees strong growth across verticals

Casino set a successive quarterly record with net revenue of €13.3m, up 74% and, on a quarter-by-quarter basis, 6%. EveryMatrix introduce..

November 7, 2023

BHA aims to slow decline on British horseracing betting

The British Horseracing Authority (BHA) has set out a series of changes for its 2024 fixture list, including amending how events are run, to slow what it says has been a decline in betting on British races.

Published last month, the BHA 2024 fixture list includes 170 “Premier Racedays” with higher prize money and more star horses. The BHA has also committed to investment to improve Sunday racing and increase competitiveness across the fixture list.

The plans are the first phase of a new long-term industry strategy, with changes to run for a two-year trial. The Horserace Betting Levy Board (HBLB) will support the plans by providing an additional £3.8m (€4.4m/$4.7m) in funding.

Part of the reason for these changes, the BHA says, is to support the betting side of racing.

Switching Saturday fixtures and new Sunday betting session

The organisation has set out three primary, betting-related targets for the upcoming 2024 season. The first of these is to improve the performance of Saturd..

November 6, 2023

India government orders blocking of 22 betting websites

Indian authorities have issued blocking orders against 22 betting apps and websites it says have been operating illegally.

Full details of those operators blocked by ministry of electronics and information technology (MeitY) were not disclosed. However, MeitY confirms that both Mahadev Book and Reddyannaprestopro face blocking orders.

MeitY says it is taking action following investigations by the enforcement directorate (ED) against illegal betting app syndicate. The ED also carried out several raids on Mahadev Book in Chhattisgarh, with these revealing unlawful operations.

The investigations have led to the arrest of several individuals. These include Bhim Singh Yadav, who currently works for the Chhattisgarh police. Yadav was arrested under Section 19 of the Prevention of Money Laundering Act (PMLA).

Shri Rajeev Chandrasekhar, minister of state for skill development and entrepreneurship as well as electronics and information technology in India, says the local Chhattisgarh govern..