Online sports betting – FairOdds Network

August 12, 2024

New York sports betting revenue rises despite handle falling to 2024-25 low

An improved hold helped New York’s mobile sports betting market grow revenue year-on-year despite handle falling to its lowest total for the current fiscal year.
New York sports betting spend amounted to $1.26bn (£988.8m/€1.16bn) in July, according to the New York State Gaming Commission figures. This is 31.2% ahead of August 2023 but 14.3% behind the $1.47bn bet in June.

It is the lowest monthly handle since $1.11bn was wagered in August 2023.

July is traditionally one of the quieter months for US sports, with MLB the only league in action. This year, however, the final week of July did benefit from the start of the Olympic Games, while the US hosted football’s Copa América in the first half of the month, contributing to the year-on-year growth.

The growth in revenue was down to a stronger hold. Revenue hit $140.3m, up 33.5% year-on-year and 4.8% up month-on-month. Across all operators hold improved to 11.1%, compared to 9.1% for June 2024.

FanDuel continues New York sports bett..

August 12, 2024

Report: DC attorney-general prepping investigation into Intralot’s mismanagement of wagering platform

According to the Washington City Paper, DC attorney-general Brian Schwalb has requested documents from lottery contractor Intralot. The request may mean the AG's office is looking into whether or not the company violated the city's “false claims” law.
What Schwalb’s office learns from the request will determine next steps, according to the City Paper report on Thursday (8 August). But if the AG’s office finds Intralot broke the law, it could fine the company.

It would also seem that likely that Schwalb’s office could create a compliance plan for Intralot or prohibit it from doing business with the city.

Intralot’s most recent lottery and sports betting contract expired on 15 July. The lottery did not renew the wagering contract. It did request and get approval from the DC Council for a one-year $39m contract extension for “lottery gaming systems and related services”. The Office of Lottery and Gaming (OLG) initially asked the council for a two-year extension, that include..

August 9, 2024

Bowyer pleads guilty; sentencing for US illegal bookie set for February

Mathew Bowyer, who ran an illegal bookmaking business for at least five years in California, pleaded guilty on Friday (9 August) to three federal charges. Bowyer had more than 700 customers, including former Shohei Ohtani interpreter Ippei Mizuhara.
Bowyer told Judge John W Holcomb, “I was running an illegal gambling operation, laundering money through other people’s bank accounts.” The hearing was held at the Ronald Reagan Federal Building and US Courthouse in Santa Ana, California.

That is the same location at which Mizuhara pleaded guilty to stealing $17m from Ohtani to bet with Bowyer. Mizuhara faces up to 33 years in prison and is set to be sentenced in October.

Shohei Ohtani’s former interpreter Ippei Mizuhara faces up to 33 years in prison. Photo by Jill R Dorson
Holcomb set Bowyer’s sentencing for 7 February 2025. He faces a maximum of 18 years in prison and three years of probation. He could be fined $750,000 or two times the “gross gain or gross loss resulting from the of..

August 9, 2024

State of the Union: Nebraska slow down, Penn eyes Alberta, FanDuel sued

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.
Legal digital wagering stalled in Nebraska
Nebraska lawmakers don’t seem ready to introduce digital sports betting, although the state’s traditionally anti-gambling governor is now supportive. Gambling proceeds are earmarked for property tax relief, which is a priority for lawmakers.

Legal digital sports betting is stalled in Nebraska. The state legislature has been in special session since 25 July. The General Affairs Committee held a hearing on the subject last week. But since then, lawmakers appear divided.

One source said that Governor Jim Pillen, traditionally anti-gaming, now supports an expansion. Pillen previously said that he plans to introduce legislation in January. He appears open to any gambling expansion to increase state tax revenue. Friday is day 10 of the special session, which does not have ..

August 9, 2024

Online slots growth pushes Lithuania gambling revenue to €116m in H1

Gambling revenue in Lithuania increased 12.6% year-on-year to €116.0m (£99.3m/$126.7m) in H1 with a strong online performance mitigating a decline in land-based revenue.
Figures from the Lithuania Gaming Control Authority show H1 revenue was clear of the €108.5m reported in the same period last year.

Starting with the online market, revenue for the channel climbed 12.5% year-on-year to €72.2m. Player spending increased by 8.7% to €1.05bn, winning $973.1m in the process.

Slots reign supreme in Lithuania online gambling market
Category A online slots – games with unlimited winnings – were undoubtedly the star of the show in H1. These slots generated €53.5m in revenue, more than any other segment across both the online and land-based market in Lithuania. Player spending on these machines also hit a market-high of €627.7m, up 6.2%.

For Category B online slots, with maximum stakes of LTL1 (€0.3) and wins limited to 200 times customer bets, revenue was flat at €1.8m in H1. In addition, o..

August 9, 2024

FanDuel took $78.5m in handle during its three-month run as DC’s sole digital platform

FanDuel finished out its short-lived run as the sole city-wide digital sports betting provider with $23.2m in handle for June and nearly $10m for two weeks in July. The DC Lottery released the revenue reports for the operator this week.
FanDuel earlier this year took over digital sports betting for the lottery, which previously used the much-maligned GamBetDC app provided by contractor Intralot. More than four years after launching GamBetDC, the lottery announced in March that it had subcontracted with FanDuel to take over online wagering. FanDuel went live in April.

Between then and now, the DC Council approved a more competitive market and the lottery allowed Intralot’s sports betting contract to expire on 15 July. Because Intralot was no longer providing digital sports betting services to the lottery, FanDuel temporarily shuttered before relaunching through a partnership with Audi Field days later.

DC sports betting revenue is currently reported by two agencies. The DC Lottery ..

August 8, 2024

Penn CEO Snowden: “Don’t believe everything you read” on M&A, points to late August NY launch

Penn Entertainment CEO Jay Snowden refused to comment on speculation of competitors teaming up to acquire the operator during Thursday's quarterly earnings call. Instead, he talked up deeper and deeper integrations with partner ESPN.
On Thursday’s (8 August) earnings call, Snowden said the company will be live in the biggest legal market in the US – New York – by the start of the college football season. He also addressed the controversial winners’ surcharge that DraftKings is floating. But his main focus was acquisition rumours.

The ESPN Bet launch last November brought the premier sports media brand into the betting sector. Snowden said it was a milestone moment. But it hasn’t yet translated into a podium position for Penn Entertainment.

Blended market share across six states averaged 6% for March, and investors have started to question Penn’s digital strategy. This led to rumours of a sale, suggesting Boyd Gaming would bite. Those rumours evolved into a joint approach with ..

August 7, 2024

Betsson, Galera.bet and F12 file Brazil betting applications as submissions hit double figures

Betsson, Galera.bet and F12.bet have joined the growing list of betting applicants in Brazil almost a week after its final regulations were published.
There is less than two weeks until the government’s 20 August initial submission deadline, which guarantees applicants in the first wave will receive a licence by the market launch date.

Betsson, Galera.bet and F12.bet have this week joined the likes of Betano and Rei do Pitaco, who made their submissions in May and July respectively.

Swedish operator Betsson moved into Brazil in 2019 by acquiring a 75% stake in Brazilian sportsbook operator Suaposta. Betsson has invested heavily in Brazil – LatAm accounted for 23% of the operator’s regulated revenues in Q2.

“I think that we have the possibility of tackling [Brazil] quicker than the big brands,” Betsson managing partner for Brazil Andre Gelfi previously told iGB. “We have a good product, we are a very respected brand. I think reputation is a critical aspect of our industry.”

Galera…

August 7, 2024

Match-fixing or mass hysteria in Brazil?

A match-fixing storm has recently engulfed football in Brazil with allegations of manipulation and lies providing a dramatic side plot to the upcoming launch of the country’s legal sports betting market. But is the problem actually as bad as feared?
If you ask people to name five things Brazil is most famous for, you’d be hard pressed to find someone who doesn’t mention football. The bright yellow shirts of the national football team are perhaps the most iconic around, with legendary players such as Pele and Ronaldo leading the Seleção to win five World Cups, the most of any country.

And yet, such a historic footballing nation has seen its most treasured sport thrown into disarray of late.

O jogo bonito is a religion in Brazil, but is there a dark side?
The row erupted when American businessman John Textor, owner of Botafogo de Futebol e Regatas, made allegations of match-fixing against São Paulo players. Textor claimed he had evidence they were bribed in a game against Palmeiras in ..

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 5, 2024

Bowyer allegedly had 700+ illegal betting customers, washed money through Las Vegas and California casinos

Court documents reveal that alleged illegal bookmaker Mathew Bowyer had more than 700 customers, washed money through multiple casinos and used Costa-Rican betting websites in his business.
On 1 August, Bowyer was charged on three counts. He is accused of running an illegal bookmaking scheme, laundering money and filing a false tax return. Bowyer, according to court documents, will plead guilty Friday before Judge John W Holcomb at the Ronald Reagan Federal Building and United States Courthouse in Santa Ana, California.

Bowyer’s business was based out of Orange and Los Angeles counties in California and Clark County in Las Vegas. Sports betting is illegal in California.

Bowyer faces a maximum sentence of 18 years in prison and three years of probation. He could be fined $750,000 or two times the “gross gain or gross loss resulting from the offences” – whichever is higher.

Mizuhara, two pro ballplayers linked to Bowyer
According to the court documents, it is unclear when Bowyer sta..

August 5, 2024

Brazil gambling regulation complete as government publishes final ordinances

With less than five months until the anticipated launch date of the legal betting market in Brazil, the final gambling regulations have been outlined in ordinances published by the ministry of finance’s Secretariat of Prizes and Bets (SPA).
The four-phase regulatory rollout set out in April is now complete and the launch of legal gambling in Brazil is on track for 1 January 2025.

Jump to:

Online games

Monitoring and inspection

Money allocated to the state

Responsible gambling, including a ban on influencer advertising

Sanctions for non-compliance

Operators have been submitting their applications for licences, with the total number of requests now at six after NSX Group’s Betnacional filed its application on Thursday (1 August) with less than three weeks to go until the 90-day initial window of preference closes.

Operators who apply before 20 August will have their applications prioritised by the SPA and ensure they are processed by the expected launch date of the market.

Those..

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Tag: Online sports betting