Online sports betting – Page 21

January 9, 2024

Maine sports betting handle exceeds $44.0m in December

Players in Maine spent $44.0m (£34.5m/€40.2m) betting on sports in December, while the Pine Tree State’s two licensed operators – DraftKings and Caesars – generated $4.4m in adjusted gross receipts.

Total handle for December amounted to $44.5m. This was 18.4% higher than the $37.6m spent in Maine during November, the state’s first month of legal betting.

Maine launched its regulated market on 3 November 2023, with December being the first full month of legal sports wagering.

maine launched its regulated market in november 2023

Bettors won $39.9m from betting in December. After discounting these winnings, $107,478 in federal excise and $132,376 worth of voided and cancelled bets, adjusted gross receipts of $4.4m were left. This was 4.4% lower than $4.6m in the opening month.

The State of Maine Gambling Control Unit added that legal betting generated $437,884 in tax. Both DraftKings and Caesars pay tax at a rate of 10% of adjusted gross receipts.

DraftKings the Maine player

So fa..

January 8, 2024

Corinthians signs record R$370m deal with VaideBet

Corinthians has announced a R$370m (£59.8m/€69.4m/$75.9m) deal with VaideBet, the biggest ever sponsorship in Brazilian football history.

One of the biggest clubs in Brazil, as well as South America, Corinthians will have VaideBet as its front-of-shirt sponsor for the next three years. The partnership is VaideBet’s first move into the football market.

The agreement comes in the wake of the approval of Bill 3,626/2023, with sports betting soon to be legal in the country.

Corinthians president Augusto Melo said: “We are very happy to bring Corinthians the biggest sponsorship in the history of Brazilian football. We have always stressed that Corinthians has the biggest brand in South American football and one of the biggest in world.”

Andre Murilo, chief financial officer of VaideBet, added: “Sponsoring Corinthians is sponsoring not only one of the main institutions in Brazil, but also a club with a very beautiful history and a fan base that is admittedly passionate, engaged and uniqu..

January 8, 2024

Kambi CEO Kristian Nylén announces resignation

CEO and co-founder of Kambi, Kristian Nylén, has notified the board of his intention to step down from his current position during the year, upon the appointment of a successor.

Nylén co-founded Kambi with Anders Strom in 2010. He has since built the company into one of the industry’s leading sportsbook suppliers.

It is understood that Nylén’s decision to resign is driven by his desire to spend more time with his family.

Commenting, Nylén said: “The decision to stand down from my position at Kambi after so many enjoyable years has been difficult, but one predominantly driven by my desire to spend more time with my young and growing family.”

Nylén plans to stand down from his current position during the year, upon the appointment of a successor.

The market has so far not reacted too heavily to the news. At the time of writing, Kambi’s share price was down 1.83%, to SEK160.50 (€14.79/ £12.29/ $15.69).

Timing of Nylén’s resignation

Nylén’s announcement follows a period of sustai..

January 8, 2024

Iowa reveals year-on-year sports betting growth in December

The Iowa Racing and Gaming Commission (IRGC) reported a year-on-year increase in sports betting handle and revenue during December.

Player spending in December amounted to $282.7m (£222.5m/€258.3m). This was 23.0% up from $229.9m in Iowa in December 2022 but 2.4% behind $289.7m in November 2023.

Of this total, $258.3m was spent betting on sports online, with a further $24.4m wagered at retail sportsbooks across Iowa.

Turning to revenue, this amounted to $26.3m in December, which was up 28.9% from $20.4m in the previous year and also 86.5% ahead of November’s $14.1m haul.

Online betting accounted for $23.6m of all revenue and retail wagering $2.7m.

Iowa players won a total of $256.5m from sports betting in December. The state was able to collect $1.8m in tax from wagering.

Diamond Jo Dubuque and FanDuel ahead of the pack in Iowa

Looking at individual operators, Diamond Jo Dubuque and partner FanDuel remain out in front in Iowa. Revenue from the partnership in December amounted to..

January 5, 2024

Portugal sets €215.3m online gambling revenue record in Q3

Online gambling revenue in Portugal hit a new quarterly high of €215.3m (£185.6m/$235.4m) in Q3, helped by record figures from the igaming segment.

Total market revenue in the three months to 30 September 2023 surpassed the existing record of €122.0m, which was set in Q2, by 4.6%. The Q3 figure was also 36.1% higher than €158.2m in Portugal in the same period in 2022.

PORTUGAL’S PREVIOUS RECORD WAS €122.0m SET IN Q2 2023

Some €133.4m of revenue in Q3 came from online games of chance, up 50.5% year-on-year. This was a new segment record and also represented 62.0% of all online gambling revenue in the quarter.

Consumers spent €3.65bn on this form of gambling in Q3, up 47.2% and another new record for Portugal. Slots accounted for 82.3% of this total spend, with French roulette at 6.4% and blackjack 6.2%.

Portugal online sports betting revenue continues to decline

The overall increase in online revenue in Portugal comes despite an ongoing decline within the sports betting market.

January 5, 2024

New York smashes online sports betting revenue record in December

New York set a new online sports betting revenue record of $188.3m (£148.7m/€172.3m) in December, while the state’s handle fell just short of November’s all-time high.

December revenue surpassed the existing New York record of $166.3m, set in October 2023, by 13.2%. The figure was also 24.8% higher than $150.9m in November and 32.8% up from $141.8m in December 2022.

NEW YORK’S PREVIOUS RECORD WAS $166.3M IN OCTOBER 2023

As for handle, this amounted to $2.04bn in December, just 3.2% shy of November’s record of $2.11bn. The total was also 25.7% higher than the $1.62bn bet in December of the previous year.

December also marked the third consecutive month that New York players spent more than $2.00bn on online sports wagering. New York in October became the first state to report an online monthly betting handle higher than $2.00bn.

FanDuel stretches lead over DraftKings in New York

Flutter Entertainment-owned FanDuel remains the frontrunner in New York, extending its lead over Draft..

January 4, 2024

Arkansas generates $3.8m in gambling revenue for December

Arkansas reported $3.8m ($3m/€3.5m) in gambling revenue for December, outperforming the state’s monthly forecast.

While Arkansas had estimated gaming to generate $3.7m in revenue for December, it surpassed that figure by an additional $100,000. The month’s above-expectation results take the state’s year-to-date gaming revenue up to $25.8m, 4.5% above the forecast of $24.7m.

In total, Arkansas’ gaming revenue for December was 7.5% higher than the same month last year. The year-to-date revenue is also an 11.2% increase on 2022’s numbers.

Arkansas: betting journey

SPORTS BETTING WAS LAUNCHED IN ARKANSAS IN JULY 2019

Sports betting launched in Arkansas in July 2019, following approval from the Arkansas Racing Commission. Arkansas became the ninth state to begin taking bets since the Professional and Amateur Sports Protection Act (PASPA) was struck down.

Online sports betting was introduced in April 2022, when a collaboration between Gaming1 and Delaware North led to the launch of Be..

January 3, 2024

Delaware Lottery launches first online sportsbook

The Delaware Lottery has announced the launch of its first online sportsbook and relaunch of its three online casinos.

Powered by Rush Street Interactive (RSI) and BetRivers, the sportsbook soft launched on 27 December. After a successful first week of operation, the new sportsbook is now fully live in Delaware.

Players can access a range of wagering options across professional and collegiate leagues, games and players. Betting options include spreads, moneylines, player props, futures and same game parlays.

Accompanying the new sportsbook are three updated versions of the state’s existing online casinos. These will continue to be operated by Delaware Park, Bally’s Dover Casino and Harrington Raceway & Casino.

RSI sees off competition to land Delaware igaming contract

RSI secured the contract to power the Delaware Lottery’s igaming offering in August of last year. This followed an RFP process that reportedly also involved 888. RSI was the only remaining bidder after other interest..

January 3, 2024

Rhode Island: Handle and revenue down in November

Sports betting handle and revenue fell year-on-year in Rhode Island in November, although there was a slight month-on-month rise in player spending.

Bettors spent $48.3m (£38.2m/€44.1m) on sports wagering in Rhode Island in November. This was 21.1% down from $61.1m in 2022 but 5.5% ahead of $45.8m in October 2023.

Of this total, $38.6m was wagered with online sportsbooks in Rhode Island. A further $9.6m was spent at retail locations at Twin River and Tiverton Casino. Twin River took $6.0m worth of bets in November and Tiverton Casino $3.6m.

Revenue slips to four-month low in Rhode Island

As for revenue, this amounted to $3.4m. Not only was this 30.6% behind $4.9m generated in November 2022 but also 24.4% less than $4.5m in October 2023.

The Rhode Island Lottery also noted the November total was the lowest monthly amount since $1.4m was reported in August 2023.

Online betting accounted for $2.6m of all revenue in November. Retail’s share amounted to $837,173, of which $488,920 cam..

December 22, 2023

New Hampshire sports betting spend continues to rise in November

Player spending on sports betting in New Hampshire increased month-on-month during November, but the $78.5m (£61.9m/€71.3m) wagered was less than the previous year.

Handle for November was down 15.7% from $93.1m in the same month last year. However, it was 2.0% ahead of October this year and the highest monthly total in New Hampshire for eight months.

Of the total wagered, $67.9m was bet online and $10.6m at retail sportsbooks across the state of New Hampshire.

Turning to gross gaming revenue, this amounted to $8.2m in November. This was 64.0% up from $5.0m last year but 5.8% behind October’s $8.7m haul.

draftkings holds exclusive sports wagering rights in new hampshire

Online sports betting accounted for $6.6m of all wagering revenue during the month. Retail betting generated the remaining $1.6m.

DraftKings remains the only operator offering online sports wagering in New Hampshire. It secured exclusive rights for the state in November 2019.

In terms of tax, the state took $3.6m..

December 21, 2023

Louisiana smashes sports betting handle record again in November

Louisiana players wagered $356.5m (£282.1m/€325.8m) on sports during November, a new monthly record for the Pelican State.

The November handle surpassed the existing record high of $308.6m set in October 2022 by 15.5%. It was also 32.7% up from $268.6m in Louisiana in November last year.

Consumers spent $322.9m betting online during November and a further $33.5m at retail sportsbooks.

Revenue falls some way short of Louisiana record

louisiana’s november revenue fell short of october’s record total

While spending was higher, this was not reflected in the state’s monthly revenue figure. For November, revenue from online and retail wagering amounted to $19.4m.

This was significantly better than last year’s loss of $25.6m in Louisiana. The November 2022 loss was due to US businessman Jim “Mattress Mack” McIngvale winning several large bets on Major League Baseball’s World Series.

November’s revenue total was also 55.2% behind the October 2023 record of $43.3m.

Breaking down revenu..

December 20, 2023

Pennsylvania blames ESPN Bet for November betting revenue drop

Pennsylvania has reported a 1.7% drop in revenue despite sports betting handle reaching $900m for the first time.

The total revenue in Pennsylvania in November was $444.5m (£351.2m/€405.6m), down on the $452.4m reported the same month last year.

This was in spite of sports betting handle reaching $934.1m, smashing the previous record of $829m recorded in October of this year. Notably, November’s sports betting handle was 18.4% higher than the $789.2m accumulated in the same month last year.

ESPN Bet blamed for Pennsylvania’s sports betting revenue decrease

Despite the sizeable increase in handle, sports betting revenue fell to $12.9m in November from $52.9m in October, a 73% drop month-on-month.

The Pennsylvania Gaming Control Board pointed to a low hold percentage, as well as the November launch of ESPN Bet, as reasons for the “steep drop in revenue”.

Operating under the Hollywood Casino at Penn National, ESPN Bet recorded a $7.8m loss, largely because of its “significant amount..

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Tag: Online sports betting