Betting News – Page 128 – FairOdds Network

July 1, 2022

Genius Sports expands partnership with Tipsport

Genius Sports has expanded its long-term partnership with Czech sportsbook operator Tipsport.

As part of the expansion, Tipsport has agreed to increase the number of annual events that are covered by Genius Sport’s data and technology products.

In turn Genius Sports will show real-time feeds and pin-point pricing for a number of competitions; including the National Football League (NFL), Euroleague basketball and the English Premier League.

In addition, Tipsport will be able to access Genius Sport’s full NFL product suite, which includes the league’s real-time statistics, its sports betting data feed and its Next Gen Stats product.

“Never-ending innovation is firmly part of our DNA so we’re thrilled to widen our partnership with Genius Sports for the upcoming years,” said Petr Komarek, Tipsport head of data and streaming.

“Considering this strong bond, we’re excited to engage many more customers and provide them with our world-class services. We look forward to create compelling a..

July 1, 2022

Tab NZ misses budget targets amid cost of living pinch

TAB New Zealand missed budget in terms of turnover and revenue in May as softening economic conditions outpaced the easing of lockdown measures.

In its monthly trading update, the betting business said turnover of NZ$202.7m (USD$124.3m/€119.4m/£103.5m) was 3.6% below budget and gross betting revenue (GBR) of $32.0m was down on budget by 4.4%. The gross betting margin (GBM) of 15.8% was 0.1% below budget.

Reported profit for the month was $10.8m, which was $2.4m below budget. Operating expenses were $10.6m for the month, which was $0.4 above budget.

Tab NZ said the key performance results for May were in line with the overall positive trends of the 2021/22 financial year.

Average NZ thoroughbred starters per race was 10.7, slightly above the year-to-date average of 10.6, while the peak turnover for a domestic meeting was $1.9m on 14 May for the Campbell’s Infrastructure Cup Day at Arawa Park.

The top sporting event by turnover for April was the Warriors vs Sharks NRL match at $0.58..

July 1, 2022

888 completes £1.95bn acquisition of William Hill assets

Online operator 888 has completed its acquisition of William Hill’s non-US assets from Caesars for £1.95bn (€2.25bn/$2.35bn), and has announced the group’s new leadership team.

888 had initially agreed in September 2021 to acquire the non-US business of William Hill. This came soon after US operator Caesars acquired the entire William Hill business for approximately £2.90bn, with the intent to dispose of all but its US assets.

Originally, the purchase price for the deal was £2.2bn. However, 888 and Caesars agreed to reduce the purchase price to acquire the assets by £250m, with the cash portion of the deal now set at £584.9m instead of £834.9m.

This, it said, was due to a “change in the macro-economic and regulatory environment”, but at the time it also revealed that the William Hill business’ licence to operate in Great Britain was under review.

After receiving shareholder approval last month, the deal has now closed today.

“I am delighted to announce the completion of our trans..

July 1, 2022

GiG pens new deals in Portugal and Spain

Gaming Innovation Group (GiG) has signed two new agreements with operators in Spain and Portugal, supplying its platform services to both.

Under the deals, GiG subsidiary Sportnco will sign with Caravel Entertainment Limited in Portugal – which operates online casino brand Moosh – and an unnamed online operator in Spain.

GiG acquired Sportnco in April of this year, in a deal worth €51.3m (£43.2m/$56.7m).

Caravel will then use the Sportnco sportsbook for the moosh.pt website.

“We are very proud to sign this contract with Moosh, a new GiG customer in the demanding and attractive Portuguese market,” said Hervé Schlosser, managing director of Sportnco. “Moosh.pt has great ambitions domestically and there is no doubt that we are perfectly positioned to be able to respond positively to the new dynamics of this growing Portuguese operator.”

Martin Bengtsson, CEO at Moosh.pt, said that the deal will allow the operator to upgrade its sportsbook offering.

“It has been a long process to fin..

June 30, 2022

Betfred Sports switches to OpenBet in Iowa

Betfred Sports has expanded its partnership with OpenBet having selected its digital and retail technology across its operations in the US state of Iowa.

Betfred’s Grand Falls Casino & Golf Resort sportsbook facility is now powered by OpenBet’s retail solutions including betting counters and self-service kiosks. Betfred will also utilise OpenBet’s digital technology and sports betting engine for mobile and online betting.

The two groups have already partnered for Betfred’s entry into the Arizona, Colorado, Louisiana and Pennsylvania regulated markets.

Bryan Bennett, chief operating officer at Betfred, said: “OpenBet’s products and technology perform consistently across our existing locations, so naturally we entrusted the company to power our offering in Iowa. We first launched in Iowa in 2020, and we look forward to working with OpenBet to continue building on that success.”

Betfred had launched in Iowa with an Optima-powered product, though it used the technology of Openbet owner..

June 30, 2022

NFL hires first sports betting executive

The NFL, the most popular sports league in the US, has hired David Highhill as vice president, general manager of sports betting; the first executive the league has had dedicated to sports betting.

Highhill will lead the league’s efforts to reduce the effects of gambling-related harm, advance the value of the NFL’s brand and reputation, support fan engagement, as well as improve the value of the NFL’s data and intellectual property.

He has been with the NFL for 10 years, and will move from the corporate strategy group, where he previously led the league’s analytics department.

The NFL already has a number of sports betting partnership agreements, most recently with 888sport, which will be the league’s official sports betting partner in both the UK and Ireland until 2025.

In the US, FOX Bet, BetMGM, PointsBet, and WynnBET were announced as official partners last year, alongside Caesars, FanDuel and DraftKings.

June 30, 2022

US representatives call on DoJ to shut down Bovada, MyBookie and BetOnline

A total of 28 US representatives have signed a letter to Attorney General Merrick Garland and the Department of Justice, calling for a crackdown on offshore operators, particularly Bovada, MyBookie and BetOnline.

The effort was led by Dina Titus and Guy Reschenthaler, co-chairs of the Congressional Gaming Caucus, and was signed by 26 other representatives.

The letter described offshore sportsbooks as “predatory operations” that “expose our constituents to financial and cyber vulnerabilities; do not have protocols to address money laundering, sports integrity, or age restrictions; and undermine states’ efforts to capture much needed tax revenue through legal sports betting channels”.

The letter called out three well-known offshore operators by name, saying that sites including Bovada, MyBookie and BetOnline “have developed sophisticated platforms that are nearly indistinguishable from those of legal providers”.

These sites – it also noted – are “frequently cited in reputable sports ..

June 29, 2022

Online gambling proposal confirmed for California’s November ballot

A measure to permit online gambling in California – backed by a number of commercial operators but opposed by many tribes in the state – has been confirmed for November’s ballot.

The Secretary of State in the US’s most populous state announced on Monday that the proposed law, which is backed by major gaming groups such as BetMGM, has attracted around 1.1 million valid signatures – well above the 997,000 required to make the ballot.

The confirmation it has qualified for the ballot was met with opposition from tribal gaming groups, whose own Tribal Sports Wagering Act initiative that would legalise sports betting at limited locations, including tribal casinos, has already been accepted for November’s poll.

Tribal chairman Cody Martinez, of the Sycuan Band of the Kumeyaay Nation, said: “We will run a vigorous campaign against this measure and are confident the voters will see through the deceptive promises being made by these out-of-state gambling corporations.”

For the full article, ..

June 28, 2022

Towards intolerance of illegal operators

Illegal online gambling remains a threat to both player protection and government tax yields. Yet, as Paul Girvan explains, most regulated jurisdictions continue to tolerate operators making money outside of the regulatory environment. Could more be done to fight the unlicensed sector?

Online gambling has existed since the inception of the internet, and over time we have seen increasing concern arise from the issue of black market gambling.

Equally, nearly all countries implementing legal market controls have encountered rising rates of gambling harm and negative social consequences, the causes for many of which remain outside the licensed market.

While there is much talk about the “licensed level playing field”, it’s hard to see how any marketplace is effectively levelled to the benefit of any parties if it tolerates the presence of the illicit black market. These shadow operators reap a competitive advantage as their regulated competitors pay a licence fee and taxes and comply wi..

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