Online sports betting – Page 72

July 12, 2022

NFL’s Bengals apply for Ohio betting licence

NFL franchise the Cincinnati Bengals has applied for a sports betting licence in the state of Ohio, as have FanDuel and Fanatics.

The team becomes the fifth business – but the first professional sports team – to apply for an Ohio operator licence. It is the fourth to apply for approval as a type-A sports gaming proprietor – which would allow it to offer an online product – following Jack Cleveland Casino, Thistledown Racino and Hall of Fame Village.

Those other three business all also applied for a type-B licence, which would also allow for operation of a retail betting facility.

Elys Technology, meanwhile, has applied for a type-C licence, allowing for operation of sports betting at a licensed bar.

Read the full story on iGB North America

July 12, 2022

888 raises €700m to pay off William Hill debts

Online gambling operator 888 will raise €700m through a notes issue related to its acquisition of William Hill’s non-US business, despite reports last week that banks had struggled to sell on its debts.

The business will offer €400m worth of notes with an aggregate principal of 7.558%, due in 2027 plus €300m at a floating interest rate, due in 2028.

These notes form part of a wider financing plan as part of the operator’s recent £1.95bn acquisition of William Hill’s non-US business, also including revolving credit facilities and bonds.

These bonds, though, were subject to some uncertainty. 888 had issued the bonds underwritten by banking giants JPMorgan and Morgan Stanley. These banks then intended to sell the bonds onward to investors, but allegedly found little appetite amid ongoing uncertainty related to the Gambling Act review, which is set to have a very large impact on 888 due to its large exposure to Great Britain.

A white paper, a key next stage of the review, was expected ..

July 12, 2022

Delasport secures new licences for Great Britain launch

Online gambling solutions provider Delasport has secured two new licences to roll out its products and solutions in the British market.

The B2B remote gambling software licence and remote betting host real events licence will allow Delasport to provide approved operators in Britain with access to its sportsbook and services.

Delasport’s iFrame and sportsbook offering, includes betting coverage of over 125 sports, 100,000 pre-match events, and 70,000 monthly live events across more than 3,000 markets, as well as personalisation tools such as geolocation content, favourites and personal trader.

The British launch marks Delasport’s seventh market entry in the past six month, with the provider having also gone live in the Netherlands, Sweden, Malta and Denmark this year, as well as securing approval in both Mexico and Germany.

“Entering the British market is the latest in a line of significant victories for our global expansion,” Delasport chief executive Oren Cohen Shwartz said. “We h..

July 12, 2022

Creating a market for free-to-play betting

Curating a strong repetoire of free-to-play products could be a valuable way of building an audience, at a time when US sportsbook operators are increasingly looking to differentiate their product ranges. Hussain Naqi of Inside the Pocket tells Marese O’Hagan about why he sees the free-to-play sector as similar to the field of his background: marketing.

Leaning into its name, free-to-play sports betting software platform Inside The Pocket packages its product offering in one compact solution.

Founder and chief executive Hussain Naqi believes this approach offers something unique in the market, as well as providing a range of new content for its clients.

“I would argue that we are distinctly different from the rest of the market, in that through a single integration, we open up an entire market of free-to-play content,” he says. “So we are distinctly different from a specific developer in that, through this one engagement in integration, you can open up an entire arena of products…

July 11, 2022

Dutch minister defends Curaçao reform timeline

Dutch Minister for Legal Protection Franc Weerwind has defended the timeline towards reform of Curaçao’s gambling system, noting the progress the island is making towards implementing the reforms demanded by the Dutch government.

Although the island’s Council of Ministers recently approved new gambling legislation that would drastically overhaul gambling from Curaçao – by replacing the master licence system with a new licensing authority – Weerwind still faced questions on illegal gambling from Curaçao.

The new rules are expected to raise the bar to entry, potentially forcing some operators out of the market, though Finance Minister Javier Silvania said that operators who cannot meet the new standards would not be a great loss.

The questions came just over six months after his predecessor Sander Dekker faced similar questions about the steps the Netherlands was taking to deal with the sector.

In response, Weerwind said that the Dutch government was already working to pressure Curaç..

July 11, 2022

Oregon sports betting revenue dips in June

Sports betting revenue in Oregon declined 10.7% year-on-year to $2.5m (£2.1m/€2.5m) in June despite an increase in player spending during the month.

Gross gaming revenue from sports betting was down from $2.8m in June of last year and also 50.0% lower than $5.0m in May 2022.

Consumers wagered $34.0m on sports during the month, which was 36.6% higher than $24.9m in June 2021, but 18.5% down from $41.7m in May of this year.

DraftKings, which has a state-wide partnership with the Oregon Lottery, generated $2.6m in revenue from $33.9 in player bets.

In contrast, the Oregon Lottery’s Scoreboard online sportsbook – which has been phased out to be replaced by DraftKings but still pays out on bets placed before this process began – took $56,269 in wagers but posted a loss of $100,600.

Baseball drew the highest amount of spending, with players having spent $13.9m betting on the sport and revenue from this reaching $898,175. All of this activity took place through DraftKings.

Basketball fo..

July 11, 2022

Iowa sports betting revenue down YoY in June despite handle increase

Sports betting revenue in Iowa fell 21.4% year-on-year to $6.6m (£5.5m/€6.5m) in June, despite player spending in the state increasing by 10.1%.

Revenue was down from $8.4m in June 2021 and also 47.6% lower than $12.6m in May of this year.

Some $6.2m of this total was attributed to online sports betting, while just $340,552 came from players betting at retail sportsbooks across the state.

In terms of handle, consumers wagered a total of $122.4m on sports during June, up from $111.2m in the same month last year, but 17.2% down from $147.9m in May 2022.

Of this total, $111.9m was spent online, while the remaining $10.5m was wagered through retail sportsbooks.

Breaking down individual operator performance, Diamond Jo in Dubuque and its FanDuel sportsbook topped the revenue charts with $1.9m in sports betting revenue for the month, while its $31.0m handle was also the highest in the state.

DraftKings partner Diamond Jo in Worth was second with $1.0m in revenue and a $15.4m handle, th..

July 11, 2022

Curaçao minister: Risk of market exits will not stop us raising standards

Curaçao Finance Minister Javier Silvania has “no issue” with the island’s planned gambling overhaul resulting in operators pulling out of the jurisdiction, saying those who fail to meet its new standards will not be missed.

Speaking to iGB, Silvania explained the rationale and context behind Curaçao’s plans to drastically reform its gambling laws.

Among the changes will be the introduction of the Curaçao Gambling Authority (CGA), a body that will oversee licensing and enforcement.

The CGA will replace the current system, whereby four private entities hold master licences from the government, and offer sub-licences to operators with little to no government oversight.

Silvania noted that under the current system there had been a number of “shortcomings and challenges” and that the master licence system was “not an ideal situation”.

“The new bill ensures the monitoring is under the control of the government,” he explained to iGB. “It is important for the government to know who has l..

July 11, 2022

Curaçao to overhaul regime with new regulator, higher bars to entry

Curaçao is set to drastically reform its entire online gambling regime, setting up a new licensing body – with higher barriers to entry and the ability to cooperate with other regulators to tackle illegal gambling – to replace master licences.

The island’s licensing regime was notable for its extremely liberal system and low barriers to entry with little scrutiny for operators, but the government intends to change this.

Currently, only four businesses are licensed by the government. Each of these then offer out their own licences on their own terms, meaning that private entities rather than the government wielded most practical control of licensing.

This will be drastically changed under a new bill that has been approved by the Curaçao Council of Ministers, part of an overhaul of gambling regulation on the island.

A new system will be set up, with licences for both B2C operators and B2B suppliers issued by the Curaçao Gaming Authority (CGA), an independent body set up by the gover..

July 11, 2022

NY mobile sports betting handle and revenue slip to record low in June

Players in New York spent $1.05bn (£876.9m/€1.04bn) on mobile sports betting in June, the shortest monthly total since the regulated market launched in January, while revenue also fell to a record low.

The total amount wagered by consumers during the month was 16.7% down from $1.26bn in May, which was incidentally the previous lowest monthly handle in New York, and marked the third consecutive month of decline.

Gross gaming revenue from mobile sports betting also declined 34.1% month-on-month to $72.4m, also surpassing the previous record-low of $82.4m set in February.

Looking at individual operators, Flutter Entertainment-owned FanDuel Group remained the clear market leader with $39.6m in revenue from $472.9m in total bets.

DraftKings placed second with $16.4m in revenue off a handle of $270.2m, ahead of Caesars Sportsbook with revenue of $6.3m and a $156.4m handle. BetMGM also posted $6.3m in revenue, albeit with a lower handle of $92.4m.

Rush Street Interactive followed with $1..

July 8, 2022

Betfred partners Long Shot’s for Maryland sports betting launch

Betfred's sports arm, BetFred Sports, has agreed a market access deal in Maryland with off-track betting facility and restaurant Long Shot’s of Frederick.

Under the agreement, Betfred will offer both retail and online sports betting in the state.

A temporary retail sportsbook will open adjacent to the Maryland Jockey Club’s off-track betting within Long Shot’s for the 2022 National Football League season. Due to open in September, the facility will include in-person betting windows and self-serve betting kiosks.

A permanent sportsbook site with a video wall, theatre-style seating and food and beverage facilities is scheduled to open early next year.

Betfred also intends to roll out online sports betting in the state, though remains subject to final regulatory approval.

Maryland Governor Larry Hogan signed a bill to legalise both online and retail sports betting in Maryland last year, after voters approved sports betting through a November 2020 referendum.

However, while reta..

July 8, 2022

RSI launches RushBet online casino and sportsbook in Mexico

Rush Street Interactive (RSI) has announced the launch of its RushBet online casino and sportsbook in Mexico in partnership with media conglomerate Grupo Multimedios.

Under the 25-year agreement, RSI will operate both its online casino and sportsbook across the country, utilising an online gambling licence held by a subsidiary of Mexico-based Grupo Multimedios.

The new partnership will also enable RSI to leverage Grupo Multimedios’ media assets and distribution channels for promotional and content integration.

The RushBet.mx website and accompanying RushBet mobile application will allow players over the age of 18 in Mexico to access a selection of online casino games including more than 350 slots and table games.

Players will also be able to place bets on a wide range of leading sporting events such as the Mexican Liga MX top division of club football, as well as North America’s National Football League, Major League Baseball and National Basketball Association.

RSI was the first..

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Tag: Online sports betting