Online sports betting – Page 48

March 17, 2023

NJ gambling revenue up 10.4% year-on-year in February

Gambling revenue in New Jersey climbed 10.4% year-on-year during the month of February, with growth in almost all market sectors.

Revenue for the month amounted to $412.2m, according to the New Jersey Division of Gaming Enforcement. This was up from $373.3m in the same month in 2022 but 5.7% behind the $436.9m generated in January of this year.

Physical slot machines remained the core source of revenue in the state, with the $159.3m collected in February being 3.5% ahead of the previous year.

However, land-based table games revenue slipped 4.9% to $55.6m, although this was the only segment to experience a decline.

Read the full story on iGB North America

March 17, 2023

Spain: Sports betting drives 80% YoY revenue growth

Gross gambling revenue (GGR) in Spain increased by 78.2% year-on-year during the fourth quarter of 2022, driven by growth within the sports betting segment.

For the three-month period, GGR amounted to €313.3m (£274.7m/$334.2m), which was also 27.1% higher than €240.8m in the third quarter of 2022, according to figures published by Spanish regulator Directorate General for the Regulation of Gambling (DGOJ).

Breaking this down, sports betting GGR amounted to €141.4m, a 223.4% increase on the previous year (52.8% up quarter-on-quarter) and representing 45.1% of all GGR generated during the quarter.

The DGOJ noted a 108.5% quarter-on-quarter jump in pre-match bets and a 13.8% increase in in-play wagers, while other bettings were up 86.8% and horse betting 63.6%.

Turning to casino and GGR was 32.4% higher at €142.3m, up 32.4% year-on-year and 11.1% higher than in Q3. The sector accounted for 45.4% of total GGR in Q4, marginally ahead of sports betting.

Slots GGR was 27.3% higher than ..

March 15, 2023

US growth drives 30% revenue rise in Sportradar FY22

Sportradar reported a 30% rise in revenue from €561.2m (£490.1m/$591.2m) in 2021 to €730.2m in its full-year 2022 financial report, driven by 78% growth in the US, as well as 26% growth from its international operations.

The company’s reported revenue beat its annual projected outlook range of €718m to €723m. US revenue stood at €127m for the year, as opposed to the €71.7m the business reported in 2021. This compares with the 25.8% rise in its international betting segment which grew from €309.4m to €389.1m from 2021 to 2022.

From this revenue, the business announced adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of €125.8m, a 23% increase from the €102.0m the company achieved in 2021.

The business hailed the strong results across all its key performance metrics. CEO Carsten Koerl said he was “very pleased” with the company’s results, driven by what he described as “exceptional execution”.

“We saw excellent performance across all of our key perfo..

March 15, 2023

OPAP selects OpenBet to power online sportsbook

Sports betting solutions provider OpenBet has agreed a long-term deal to power the online sportsbook of Greek gambling group OPAP.

Under the agreement, OpenBet will deliver its full suite of betting technology, trading and sports content to OPAP via SportCast.

The deal marks OpenBet’s first partnership in the Greek market and its tenth with a member of the World Lottery Association (WLA).

OPAP, which is due to publish 2022 financial year results later today (15 March), operates as part of the Allwyn Group.

“At OPAP, we always look to offer our customers the highest quality of innovative and entertaining gaming products,” OPAP chief executive, Jan Karas, said. “Therefore, we are very pleased to be partnering with OpenBet and we are looking forward to leveraging their expertise and high-end technology solutions, in order to upgrade customer experience and take our online sports betting activities to new levels.”

OpenBet group chief executive Jordan Levin added: “We’re delighted to h..

March 14, 2023

Arizona sports wagering handle reaches $572.5m in December

Consumers in Arizona spent $572.5m betting on sports in December of 2022, a year-on-year increase of 14.7%.

The monthly figure was comfortably higher than the $499.2m bet during the same month in 2021, but 7.2% behind the $616.9m wagered in November 2022.

Mobile betting accounted for $566.5m of all bets placed in December, while a further $5.0m was spent at retail sportsbooks in the state.

Read the full story on iGB North America

March 14, 2023

New York mobile sports betting handle declines in February

Mobile sports betting handle in New York fell year-on-year in February, while both spending and revenue were also lower than the record figures posted in January.

Consumer spending on sports betting in February amounted to $1.47bn, down 3.9% from $1.54bn in the same month last year and also 17.9% behind the record $1.79n wagered in January 2023.

In terms of gross gaming revenue from mobile betting, this reached $108.3m in February, a 31.4% increase from $82.4m last year but 27.5% shy of the record $149.4m generated in January of this year.

Read the full story on iGB North America

March 14, 2023

Playtech acquires Hard Rock Digital stake in partnership deal

Playtech has purchased a minority equity ownership stake in Hard Rock Digital (HRD), the interactive gaming and sports betting division of Hard Rock International and Seminole Gaming, as part of a wider deal between the two businesses.

Playtech will pay $85.0m (£69.8m/€79.5m) for a low, single-digit percentage stake in HRD, with proceeds from the investment to fund HRD’s global expansion.

Hard Rock’s online and retail sports betting is currently operated in select US states including Arizona, Indiana, Iowa, New Jersey, Ohio, Tennessee and Virginia. It aims to extend its online sportsbook and igaming offerings to select international markets in the coming years.

Global supply deal

As part of the wider arrangement with Playtech, HRD will license a range of the developer’s technology solutions and igaming content.

In the US and Canada, HRD’s customers will be able to play a selection of Playtech’s slots, random number generator and live dealer table games through HRD’s existing pr..

March 13, 2023

Fredrik Elmqvist: Other side of the coin

Slots veteran Fredrik Elmqvist is turning his luck to the mad bad world of sports betting – but will it work?

Elmqvist is well-deserving of his reputation as the king of slots.

However, more than 10 years on from his epoch-making launch of Yggdrasil, the Stockholm native is turning his luck to the decidedly different proposition of sports betting in his latest project ParlayBay, which seeks to make its name as the new champions of micro betting.

The Swedish entrepreneur certainly has a nose for where the action is, describing it a “pretty interesting” time to be setting out on a venture such as this.

Elmqvist describes a US sports betting landscape that is shifting into a new, subtler gear following the marketing wars that characterised the earlier days of the PASPA repeal.

“For a few years there’s been a shift into sports betting and you see, in the United States rollout, both the need for new products and to keep the marketing costs down, as well as still [the need to] get new..

March 13, 2023

Indiana sports betting revenue rises in February despite handle decline

Adjusted gross revenue from sports wagering in Indiana increased year-on-year in February despite a drop in the US state’s handle.

Player spending on betting during the month amounted to $356.2m, which was 12.9% lower than $409.1m in February 2022 and also 16.6% behind the $427.2m wagered in January this year.

Basketball remained by far the most popular sport among consumers, drawing $166.0m in total wagers during February, some way ahead of football on $20.6m and baseball with just $441,296. A further $69.3m was spent on parlay bets and $99.6m on other sports.

Read the full story on iGB North America

March 10, 2023

Massachusetts’ mobile sports betting market goes live

The six online operators approved to launch mobile sports betting offerings in Massachusetts – FanDuel, DraftKings, WynnBet, Barstool, BetMGM and Caesars – have gone live in Massachusetts.

More than six months on from when then-governor Charlie Baker signed House Bill 5164 into law, players have begun placing bets from the six online operators licensed by the Massachusetts Gaming Commission (MGC) – joining the now majority of US states that have legalised the activity.

The rollout follows the launch of retail sports betting towards the end of January, that permitted any land-based casino or racetrack operator to apply for a licence.

“The debut of sports betting in Massachusetts has delivered an incredible amount of excitement and activity to our retail sportsbook at MGM Springfield,” said BetMGM CEO Adam Greenblatt. “We’re proud to expand our best-in-class wagering experience statewide during one of sports’ biggest months of action.”

Role of sports fans

President of Caesars Digit..

March 9, 2023

MGA pens data deal with Badminton World Federation

The Malta Gaming Authority (MGA) has announced it has signed a data-sharing agreement with the Badminton World Federation (BWF) Integrity Unit.

The deal will see the two organisations work to improve the monitoring of suspicious gambling activity in badminton.

MGA head of financial crime compliance Antonio Zerafa said he was “very pleased” to see BWF added to the list of sports governing bodies whom the regulator is already engaged with on a day-to-day basis.

“I am very pleased to see the Badminton World Federation added to the long list of sports governing bodies whom the Authority already assists on a practical level, and we look forward to working with the BWF’s Integrity Unit on any issues that may arise,” he said.

Thomas Lund, BWF secretary-general said that this partnership will support BWF in its mission of identifying possible instances of match-fixing, and will improve its capabilities in its investigations and anti-match fixing operations.

“This partnership helps the BW..

March 8, 2023

New Brazil integrity body forms in wake of scandals

A consortium of organisations with a stake in Brazilian sports betting have announced the formation of a new non-profit Brazilian sports integrity body, the Associação Brasileira de Defesa da Integridade do Esporte (ABRADIE).

The establishment of the new body follows a number of recent match-fixing scandals in the Portuguese-speaking country, which have led to a national conversation regarding its betting laws.

Involved in the creation of the association are Genius Sports, Entain, daily fantasy sports operator Rei Do Pitaco, as well as law firms Bichara e Motta and Maia Yoshiyasu Advogados, who released a joint statement following the group’s formation.

Luiz Felipe Maia from the Maia Yoshiyasu firm argued that the association was being formed at a “critical time,” due to the pressures of the growing Brazilian market and the ongoing question of regulation.

ABRADIE

ABRADIE states that it will operate as a collaborative group that will partner with regulators, federal and state la..

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Tag: Online sports betting