Bet365 – FairOdds Network

August 6, 2024

NJ regulator orders Bet365 to pay bettors $519,000 after unapproved odds’ shifts

The New Jersey Division of Gaming Enforcement (DGE) is mandating that Bet365 pay out $519,323.32 for 199 winning wagers on which the company adjusted odds without the agency's approval. The changes in odds were made on 12 different dates between 25 December 2020 and 18 November 2022.
All states do not require operators to get approval before shifting odds. Also unusual is that Bet365 must pay the bettors rather than a fine to the DGE. In many cases in New Jersey and other states, when a sportsbook violates the rules, fines are imposed.

Bet365 is among the top five operators in terms of gaming revenue in New Jersey.

The DGE gave Bet365 10 days to reimburse bettors from the time the letter went out.

Division approval needed, DGE reiterates
According to a 22 July letter, Bet365 altered the odds on the events after they were posted.

In the letter, the DGE writes that Bet365 believed it could “unilaterally revise the odds that had already been offered on wagers for these event..

August 2, 2024

Waterhouse VC: The rise and rise of Bet365

How has Bet365 maintained a consistent top position in online gambling? Tom Waterhouse reviews its tactics for success.
Becoming the dominant force early in an industry can lead to significant competitive advantages, brand recognition, and customer loyalty. Amazon in ecommerce and Coca-Cola in soft drinks, are examples where early and effective market entry cemented dominant lasting positions. Dominance is maintained through established distribution, economies of scale and a sticky customer base.

In gambling, aside from countries where a pari-mutuel (tote) operator has a monopoly on betting, there is a variety of choice. For example, in Australia, there are around 100 wagering operators and in the UK there are 175 online operators. Before the internet, bookmakers would typically earn and retain market share through physical high street betting shops, which gave the industry a natural barrier to entry.

In the UK, Ladbrokes and William Hill emerged as the initial market leaders among a..

July 26, 2024

State of the Union: Texas exploratory group, a look at online gambling support in Addabbo’s district

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.
Texas group to “explore” legal gambling
A group of North Texas business and community leaders formed a coalition to explore legalising casinos in the state. Former Dallas Mavericks majority shareholder Mark Cuban sold a portion of his shares to two families associated with Las Vegas Sands earlier this year. Should gambling be legalised, the entity plans to build a casino resort in Dallas.

The North Texas Commission “will study the implications of destination gaming and make recommendations regarding issues like economic development, workforce demands, infrastructure requirements, transportation and public safety impacts,” the Dallas Business Journal reported on Wednesday (24 July).

The commission was formed ahead of the 2025 legislative session, when lawmakers are expected to again consider the issue. Las Veg..

July 9, 2024

Survey reveals Betano as most recognisable brand in Brazil

Kaizen Gaming-owned Betano is the most recognisable and trusted betting brand in Brazil, a survey by Env Media has revealed.

Env Media centred its survey on the 20 most popular brands in Brazil, including the likes of Betano, Bet365 and Betfair. The study aimed to establish what operators held the greatest share of voice in Brazil by looking at their visibility and market shares.

This is ahead of the regulated market going live following the December approval of Bill 3,626/2023, legalising sports betting and igaming.

The survey asked 500 active adult bettors which operators they were both aware of and trusted. Betano led the way with 73.4% of respondents stating they recognised and trusted the operator. Bet365, meanwhile, was second, selected by 67.2% of those surveyed.

Brazilian operator Pixbet was third, recognised and trusted by 54.7% of respondents, while Sportingbet and Betnacional were selected by 42.6% and 41.6% respectively.

Betano also held the advantage in Env Media’s s..

March 28, 2024

GST leaves India out of its depth

The decision to impose a 28% Goods and Services Tax (GST) on turnover in India delivered a blow to a burgeoning, exciting gaming market overnight. But with so much industry pushback, and attempts to stay GST-related court orders, can India turn back the tide on GST?

Dust off your time machine and travel back to 1867, when India’s Public Gaming Act was enacted.

This piece of legislation regulated some forms of gambling with extremely strict parameters. It legalised lotteries and horse racing but banned the operation of public gaming houses. At the time, anyone caught running a public gaming house faced a fine of ₹200.

Obviously, the original legislation couldn’t have taken online gaming into account. This left the practice in a state of uncertainty, despite a ready-and-waiting base of gambling and sports fans.

In more recent years, attempts have been made to legalise both online gambling and sports betting. In 2016, the Supreme Court backed calls for legalised betting, referring to..

March 27, 2024

Leading US operators launch Responsible Online Gaming Association

Seven of North America's largest operators have joined together to launch the Responsible Online Gaming Association (ROGA) in a bid to promote responsible gaming (RG).

ROGA is aiming to promote best RG practices among the industry. BetMGM, Bet365, DraftKings, Fanatics Betting & Gaming, FanDuel, Hard Rock Digital and Penn Entertainment are all collaborating.

According to the launch announcement, the companies involved represent over 85% of the legalised online sports betting and igaming industry in the US. They have pledged more than $20m (£15.8m/€18.5m) to support ROGA’s objectives over the first year of its existence.

Dr Jennifer Shatley will serve as ROGA’s executive director, tapping into her 25 years of experience within the industry and extensive work as an RG executive to facilitate widespread education on the topic.

Shatley’s work with ROGA will take place alongside her role as president of the Nevada Council on Problem Gambling, as well as her position as a member of t..

March 7, 2024

Austrac launches investigation into Bet365 over potential AML failings

The Australian Transaction Reports and Analysis Centre (Austrac) has commenced an investigation into Bet365 over potential breaches of anti-money laundering (AML) and counter-terrorism financing (CTF) laws.

Austrac ordered an audit of Bet365 in 2022, when it assessed its compliance with the AML/CTF Act 2006. The consideration of that audit has led Austrac to deem further investigation into Bet365’s affairs as necessary.

Austrac reserves the right to take action where non-compliance is found. The government-run financial intelligence agency has fines and other regulatory powers at its disposal.

“Corporate bookmakers must have robust systems in place to ensure they can manage and mitigate risks associated with money laundering and terrorism financing,” said Brendan Thomas, Austrac chief executive.

“Businesses without adequate processes in place to manage those risks leave themselves vulnerable to exploitation by criminals.”

Bet365 in potential hot water with Austrac

austrac reached..

February 8, 2024

Bet365 extends US reach with Arizona launch

Bet365 has launched online sports betting in Arizona through a partnership with the Ak-Chin Indian community, extending its reach in the US to a ninth state.

Players in Arizona can now place pre-event and in-game wagers across a range of sports with Bet365. Additional offerings available to players in the Grand Canyon State include same game parlay, cash out and edit bet.

Bet365’s entrance into Arizona follows launches in Kentucky, Louisiana, Virginia, Ohio, New Jersey, Iowa, Colorado and, last month, Indiana.

The launch comes ahead of this weekend’s Super Bowl LVIII, the end-of-season showpiece for American football’s NFL.

“Like Bet365, the Arizona sporting scene is never ordinary and boasts several professional and college teams, earth-shaking, fan-favourite moments and exhilarating championship events,” a Bet365 spokesperson said.

“Just in time for the big game, sports fans in the Grand Canyon State can enjoy the Bet365 experience. This includes market leading offerings like ..

January 31, 2024

Bet365 and BlueBet expand US presence with new launches

Bet365 has launched online sports betting in Indiana while BlueBet has also extended its reach in the US by rolling out its ClutchBet brand in Louisiana.

Indiana becomes the eighth US market for Bet365 while BlueBet and ClutchBet are active in three states across the US.

Bet365 launches in Indiana via a partnership with the French Lick Resort land-based casino. Players can register for a new Bet365 account and begin betting on a wide range of sports and competitions.

The operator is also active across Kentucky, Louisiana, Virginia, Ohio, New Jersey, Iowa and Colorado.

“At Bet365 we don’t do ordinary and, as the home of the country’s first professional baseball game, ‘The Greatest Spectacle in Racing’ and a rich basketball history, neither does Indiana,” a Bet365 spokesperson said.

“New and eligible sports fans in the Hoosier State, renowned for their passion and loyalty, can enjoy the Bet365 experience featuring market leading offerings like amazing Bet Boosts, the fastest in-g..

January 17, 2024

The analyst’s take: Bet365’s 2022-23 financial results

A key theme of Bet365’s revenue report for FY2022-23 was its investment into the US market. Ed Birkin, senior analyst at H2 Gambling Capital, believes this outlay could end up paying dividends.

While the most prominent figure in the operator’s report was its £61.2m (€71.0m/$77.6m) loss, Bet365 also recorded significant revenue growth.

Birkin believes Bet365’s growing interest in the US market, as well as its hugely successful Ontario launch, could lead to future growth in regions such as North America and the soon-to-be regulated Brazil.

bet365 is currently the market leader in ontario

“Although the company has a reputation for operating in a number of unlicensed markets, it has been clear for a long time that it will seek a licence in any market where it is available and commercially viable to do so,” says Birkin. “Therefore, it’s no surprise to see continued international expansion.

“Their transition to the onshore market in Ontario appears to have gone smoothly, where they’re t..

November 22, 2023

Bet365 extends US reach with Louisiana launch

Online gambling operator Bet365 has expanded its presence in the US by launching its sportsbook product in the state of Louisiana.

Players in Louisiana can access the Bet365 website or download the sportsbook app and bet on a range of events. These include major league competitions such as the National Football League, National Basketball Association, National Hockey League and Major League Baseball.

Bettors will also be able to view live streams of certain events while they place bets.

Launching in Louisiana means Bet365 is now active in seven states across the US. Bet365 also operates in Colorado, Iowa, Kentucky, New Jersey, Ohio and Virginia.

“Celebrated for its passionate culture and festive spirit, we are thrilled to bring bet365 to Louisiana,” a Bet365 spokesperson said. “Now eligible customers from Shreveport to the Big Easy can enjoy our renowned products like amazing bet boosts, the fastest in-game experience and unique same game parlays.”

Betting handle and revenue recor..

August 30, 2023

Bet365 grabs Arizona licence

Stoke-based online gambling operator Bet365 has been cleared to offer sports betting in Arizona through one of the three remaining available tethered licences.

On Tuesday, the Arizona Department of Gaming (ADG) announced it had authorised Bet365 for an event wagering licence through a market access agreement with the Ak-Chin Indian Community, a federally recognised tribe and one of the state’s 20 licence holders.

This marks the seventh state in which Bet365 has received a licence. The operator is already live in Ohio, Virginia, New Jersey, Iowa and Colorado.

Also on Tuesday, Bet365 announced it had begun its pre-registration period in Kentucky with an eye towards a 28 September launch. This comes after receiving a temporary licence to operate in the Bluegrass State the week prior.

Bet365 will take the place of Fubo Sportsbook, which had previously operated in the state through Ak-Chin’s licence. In October 2022, the streaming provider announced it would be closing its sportsbook wi..

December 2024
Mon	Tue	Wed	Thu	Fri	Sat	Sun
						1
2	3	4	5	6	7	8
9	10	11	12	13	14	15
16	17	18	19	20	21	22
23	24	25	26	27	28	29
30	31

Tag: Bet365