Gaming – Page 3 – FairOdds Network

June 26, 2024

MGCB’s try at examining legal vs illegal activity causing consternation

A new six-page, six-question attestation form issued by the Michigan Gaming Control Board in late April has left some licensed igaming and sports betting suppliers in a corner, unsure how to respond to the open-ended inquiry that the board itself has revealed is more about “information gathering” at this point.

The “Illegal Gaming Attestation Internet Game Content Providers” form may be well-intentioned to stamp out support for illegal actors siphoning business and taxable revenue from Michigan’s legal market, but many stakeholders are concerned. Relationships and involvement in areas where the legal versus illegal activity of igaming is not cut and dried is common. Those operating globally are especially alarmed by some unclear questions and undefined terms. They believe unintended consequences may follow from the Michigan regulators’ methods.

“The form does not define every single relevant term, such as what constitutes ‘illegal gambling’,” said gaming lawyer Susan Hensel of Hense..

June 26, 2024

Betsson secures betting and igaming licences in Peru

Online gambling operator Betsson today said it has secured a licence to operate the Betsafe and Bettson brands in the newly regulated Peru market.

The licences cover online casino and sports betting for both brands and Betsson expects to also soon obtain approval for its Peru-facing Inkabet business.

Betsson has had a presence in Peru since 2008. In 2019, it expanded its reach in the country by launching its Betsafe brand. Two years later, it also acquired locally-licensed online betting and sports brand Inkabet for $25m.

Regulation of the Peru market earlier this year meant Betsson had to secure full licence approval to continue operating in the country. Law no 31557, which regulates online gaming and sports betting, went into effect on 9 February.

Operators had until 10 March to apply for a licence. Peru’s ministry of foreign trade and tourism received 145 requests for operator licences from both national and international operators.

“We have really looked forward to Peru introd..

June 19, 2024

Ontario igaming outperforms five-year state contribution and employment targets says Deloitte

Ontario’s commercial igaming sector outperformed various five-year economic contribution targets set by Deloitte between 2023 and 2024, including jobs sustained and government revenue contributions.

According to a report by Deloitte published on 19 June, the igaming market in Ontario hit or almost reached many of Deloitte’s year-five projections within its second year, with the market (excluding the state-backed lottery operator) contributing CA$2.7bn (US$1.97m) to GDP and sustaining almost 15,000 full time equivalent jobs in the province.

Of this, $1.3bn contributed to labour income. In comparison, market contribution in Ontario’s first year of operation hit $1.58bn, after Ontario’s online gambling market went live on 4 April 2022.

Between April 2023 and April 2024, direct jobs sustained hit 120% of Deloitte’s five-year prediction, with government revenues (94%), total full-time jobs sustained (92%) and GDP contributions (93%) also outpacing initial expectations.

The report said..

June 19, 2024

Michigan online gambling revenue tops $239.5m in May

Online gambling revenue in Michigan hit $239.5m (£188.3m/€223.0m) in May, a year-on-year increase of 28.9%, with growth across both the online casino and sports betting markets.

According to the latest Michigan Gaming Control Board (MGCB) figures, the state’s revenue total cleared the $185.8m posted in May last year.

It was also 2.0% ahead of the $234.8m generated in Michigan in April this year.

Gross receipts from online casino activity amounted to $198.6m, up 31.9% year-on-year. As for sports betting, gross receipts here hiked 15.2% to $40.9m, with handle also rising 19.2% to $343.7m.

Adjusted gross receipts up 31.2%

In terms of adjusted gross receipts, taking into account promotional spending, there was also growth. Total adjusted gross receipts for the igaming market were 31.2% higher at $206.8m.

Adjusted online casinos receipts jumped 31.9% to $178.7m, with adjusted sports betting receipts up 27.7% to $28.1m.

The figures cover igaming activity across both commercial and ..

June 19, 2024

Pennsylvania igaming revenue jumps 24% in May

Growth within the igaming market drove gambling revenue in Pennsylvania up 8.7% year-on-year to $521.0m (£409.9m/€485.2m) in May, while the Keystone State also posted increases across sports betting and the land-based sector.

Igaming gross revenue came in at $174.1m in May, up 23.5% year-on-year.

Total revenue in May was comfortably higher than $479.4m in the same month last year. It also surpassed the $504.6m reported in Pennsylvania in April this year by 3.3%.

While the igaming segment saw the most growth, land-based slots remain the main source of gambling revenue in Pennsylvania. For May, revenue from physical slots hit $214.1m, a rise of 1.6%.

Mobile sports betting gross gaming revenue increased 10..5% annually to $59.1m on a handle of $557m, which marked an uptick of 21% on the previous year. Promotional spend across operators was up 6.3%.

In the land-based sector, table games revenue edged up 2.5% to $83.7m.

Deutsche Bank noted gross gaming revenue for both Caesars and ..

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..

April 12, 2024

Charting Nigeria’s online gambling growth amid regulatory battles

One of the most exciting emerging global online gambling markets is Nigeria, boasting a youthful population that H2 Gambling Capital forecasts to lead it to gross gaming revenue (GGR) of €675.1m (£576.8m/$717.2m) by 2025. With a legal battle over regulation ongoing, though, how exactly is it achieving its success?

Firstly, it’s imperative to note the demographics of Nigeria, which is the most populous country in Africa with well over 200 million inhabitants. According to a report from The Economist, that population is predicted to grow to 400 million by 2050, surpassing the US as the third most-populous country on the planet.

Looking closer at Nigeria’s data reveals a hugely youthful population, with figures from the World Factbook outlining that approximately 41% of people in the country are aged between 14 and under, with the average age of a person in Nigeria just 19 years old.

Taking those demographics aspects into account it’s clear to see why there is excitement over how Niger..

April 11, 2024

New Jersey senator formally introduces bill to hike online tax to 30%

A New Jersey senator, John McKeon, has formally introduced his new bill to increase tax for online gambling and sports betting to 30%.

Currently, online gambling and sports betting are taxed at 15% and 13% of gross gaming revenue respectively.

Senate Bill 3064 was formally introduced on 8 April, after being filed last week. The bill was referred to the Senate State Government, Wagering, Tourism & Historic Preservation Committee.

If enacted the bill would amend Section 17 of P.L.2013, c.27 (C.5:12-95.19), which specifies the online gambling tax amount. Section 7 of P.L.2018, c.33 (C.5:12A-16), which addresses sports wagering tax, would also be changed.

Should lawmakers approve the proposal, it would take effect on next 1 January that occurs after the date of enactment, per the bill text.

New Jersey gambling tax hike: How does it compare?

A 30% rate would put a significant burden on New Jersey’s 18 mobile sportsbooks, raising taxes to among the highest in the US. New York’s 51% spo..

April 10, 2024

Brazil betting regulation to be ready by end of July

Plans to implement fixed-odds betting in Brazil will take place in four stages, ending in July 2024, representing the first step towards a regulatory framework.

Brazil’s ministry of finance published the new ordinance in Brazil’s Official Gazette of the Union. It outlines how the regulations approved in Bill 3,626 will be implemented in the coming months, with an aim to be completely implemented by the end of July 2024.

The four-stage schedule is organised by which regulatory aspects take priority

The order established the Regulatory Policy of the Prizes and Betting Secretariat (SPA), a ministry of finance body which will structure and publish the incoming regulation as per the guidelines.

The body will aim to provide clarity on the legal aspects of the regulation and prioritise the most pressing measures for enactment.

“This measure’s main objective is to systematically structure the regulatory agenda for fixed-odd betting in the country and represents a considerable advance in t..

April 9, 2024

Maryland online casino is dead. What else is left for 2024 US gambling expansion?

The old adage “in like a lion, out like a lamb” is an apt comparison for the prospects of online casino in Maryland.

While interest and discussion weren’t limited to March, as far back as last autumn, operators, vendors, suppliers, consultants, lawmakers and many others in the US gambling landscape were shouting about the prospect of Maryland legalising online casino.

On Monday (8 April) those prospects went out without a peep when the general assembly adjourned with no action on gambling.

Failed Maryland gambling expansion second key loss in 2024

The loss, as the gambling industry will see it, is the second key one this session. Ten days earlier, the Georgia general assembly ended its term without legalising digital sports betting. That meant the two states projected to have the best chance at a gambling expansion failed to produce.

In Georgia, lawmakers remain bogged down in how to spend proceeds rather than whether or not to support the legislation. Negotiating went on nearly ..

April 8, 2024

Belgium report warns of impact of over-regulation on channelisation

A report from Belgium-based operator Gaming1 has highlighted concerns over the effect of over-regulation on channelisation.

On 1 July 2023, Belgium introduced a near total ban on gambling advertising. This was after a consortium of sports teams and gaming operators were defeated in a last-ditch legal bid challenging the royal decree.

The ban faced backlash, with Belgium gambling trade body Bago highlighting the government’s decision to act against the advice of the country’s Gambling Commission when imposing the ban.

Gaming1’s report has now outlined the impact of the royal decree on channelisation towards legal operators in Belgium.

Gaming1 pointed to surveys conducted by Nepa in 2023. The studies found a 6% rise in online players using an illegal website in the past three months following the royal decree, as well as a 4% increase on deposits made on illegal gaming websites.

In its report, Gaming1 highlighted the results of two major studies. The first from the Belgian Gaming Co..

April 5, 2024

PNR Tecnologia and Lema request Loterj accreditation amid IBJR criticism

PNR Tecnologia and Lema have become the latest gambling companies to seek accreditation from the Rio de Janeiro State Lottery (Loterj), which is coming under fire from the Brazilian Institute for Responsible Gaming (IBJR).

On Wednesday (3 April), PNR Tecnologia delivered documentation seeking to operate sports betting and online games with Loterj accreditation. On Friday (5 April), Lema visited the Loterj headquarters.

This was to carry out a proof of concept and evaluate its compliance with Loterj regulations. This was after Lema had previously presented its platform to operate sports betting and ilottery in March.

In March, Caesars Sportsbook-licensee BIG Brazil announced it was looking for Loterj accreditation to offer both sports betting and lottery. Loterj has since been criticised for its attempts to operate in Brazil outside its state of Rio de Janeiro.

PNR Tecnologia director Yuri William threw his support behind Loterj’s initative. He stated: “Loterj has a lot to add to t..

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Tag: Gaming