Sports betting – Page 33 – FairOdds Network

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 21, 2023

Mississippi sports betting handle hits 11-month high in November

Players in Mississippi wagered $62.4m (£49.4m/€57.0m) on sports in November, the highest amount in the Magnolia State for 11 months, but still lower than the same month last year.

The monthly handle was 15.2% behind the $73.6m wagered in November 2022. However, it was 26.1% ahead of $49.5m in Mississippi in October this year and the highest total since $74.4m was bet in December 2022.

Turning to revenue, this reached $3.1m in Mississippi in November. This was 33.3% behind last year’s $5.1m total and also 53.4% less than $7.3m in October.

Mississippi November: Coastal casinos the venue of choice

mississippi’s sport betting market bounced back after shrinking in october

Breaking down the market, coastal casinos remained most popular for sports betting with consumers in Mississippi. Coastal casinos generated $1.4m in revenue from $43.1m in total bets in November.

Some $1.1m in revenue came from central casinos, which processed a total of $12.0m in bets.

In addition, northern casin..

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..

December 20, 2023

Michigan operators boosted by record monthly igaming receipts

Michigan’s commercial and tribal igaming operators generated record gross receipts of $175.3m (£138.5m/€160.2m) in November, according to the state’s regulator.

Michigan’s total gaming revenue beat the previous record of $171.8m in March and $160.3m in October, the Michigan Gaming Control Board stated. Total igaming handle was not reported.

November’s total online sports betting handle of $568.8m also set a new monthly record – up 6.7% from $533m in October. However, online sports betting receipts fell from $45m to $33.9m versus the previous month.

Accordingly, igaming and sports betting gross receipts totalled $209.2m in November. This represented a 1.9% increase on October’s total.

Sports betting falls in Michigan

Combined igaming and internet sports betting adjusted gross receipts (AGR) for Michigan in November totalled $158.1m. This included $157.8m from igaming and just $294,810 from online sports betting.

The November totals represented a month-on-month 9.4% increase and 9..

December 19, 2023

Washington DC revenue down 38.6% in November

Washington DC’s gross gaming revenue (GGR) fell 38.6% in November, the DC Lottery announced on Monday.

Washington DC’s GGR decreased to $1.2m (£942,086/€1.1m) in November, falling well behind the $1.9m recorded in September and the $2m accumulated in October.

The reduced GGR was despite total handle increasing to $17.1m from $16.4m in October.

It was a great month for bettors, with average hold percentage standing at just 7.17%. As a result, tax revenue dropped to $122,801, the lowest since August.

Washington DC continues to stagnate

Washington’s November handle was down 20.1% year-on-year, receiving $21.4m in wagers in November 2022.

Washington dc’s revenue declined year-on-year in november

GGR decreased 53.8% from November 2022’s $2.6m. Washington’s November tax revenue of $122,801 fell well behind the $264,169 recorded in the same month last year.

This is following the trend, with Washington DC’s sports betting market also declining year-on-year in October.

Despite the dis..

December 19, 2023

SharpLink: The personalisation effect

Sports betting is a multi-billion dollar industry and everybody wants a slice of that pie. Cole Rush speaks to Rob Phythian, CEO of SharpLink about how personalisation can improve the sports betting experience.

Operators have boiled their launch processes down to a science, offering welcome bonuses to bring players to their platforms. From there, retention is the true goal. That’s where SharpLink comes in.

“There’s a huge audience for betting, but the experience can be pretty one-dimensional and transactional,” says Phythian. “The technology today gets you live and gets you secure, but it leaves you a generation behind.”

Phythian compares sports betting to tech giants like Netflix or Amazon. Consumers expect personalisation and tailored recommendations in almost every industry. In sports betting, they’re not getting that same degree of personally catered offers.

SharpLink aims to change that. The company seeks to understand user behaviour and serve it back to bookmakers so they can..

December 19, 2023

STS appoints new CEO and chair following Entain CEE buy-out

STS has announced a management reshuffle with a new CEO and chairman appointed in the wake of its acquisition by Entain CEE.

Radim Haluza will become the Polish sports betting operator’s new chief executive, while also remaining as CEO of Entain CEE. Long-serving STS chief executive Mateusz Juroszek switches from that role to become chairman of the supervisory board.

The changes come four months after Entain CEE acquired STS in a £750m deal. Entain CEE is a joint venture between Entain, investment management company Emma Capital and the Juroszek Family.

ENTAIN ACQUIRED STS FOR £750M IN AUGUST 2023

Juroszek said the changes to STS management will improve structure and operations within STS and Entain CEE. Juroszek, as chairman, is charged with taking further care of the group’s strategic development.

Haluza, who takes over his new role on 1 January, is also the CEO of SuperSport, Croatia’s largest gaming and sportsbook operator. This business was bought by Entain CEE for £690m in N..

December 18, 2023

Massachusetts’ November revenue – are we seeing ESPN Bet’s first surge?

Massachusetts’ gaming revenue dropped during November despite seeing its monthly sports betting handle record smashed. More interesting, however, was Penn Interactive's surge in wagers.

Casino takings were pretty much flat compared to the previous month according to figures released by the Massachusetts Gaming Commission. However, a good month for punters saw sports betting accrual win drop by $10m compared to October.

Total taxable gaming revenue of $143.0m for all casino and sports betting was down by 7.7% compared to the $155.8m generated in the previous month.

Total sports betting revenue hit by low hold rate

In reviewing aggregated sports betting performance, Massachusetts’ eight mobile and online sports wagering licensees and the three in-person licensees generated accrual win of $50.6m.

Some $654.4m was wagered by sports bettors during November, which was up almost 15% on the $571.8m spent in October. It was 12% greater than the previous best month for Massachusetts b..

December 18, 2023

Episode 24: Victor Rocha on California’s betting ballot measure

The industry was shocked when a new California sports betting ballot measure landed after last year’s bruising fight, but Pechanga.net's Victor Rocha tells the World Series of Politics that tribes are up for the next battle.

Rocha, one of the most eloquent and influential voices in the Indian Gaming Association and host of The New Normal, tells Brendan Bussmann and Robin Harrison how any California sports betting debate will shake out.

“Smoke and mirrors”

“It’s insulting,” Rocha says of the new ballot measure, arguing it looks to drive a wedge between Californian gaming and non-gaming tribes. A set of amendments doesn’t make it any more palatable. “It’s all smoke and mirrors.

“These guys are not listening, because they don’t care. They want to go forward and they are shocked they don’t see Indians running towards them throwing flowers at their feet.”

California sports betting: All roads lead to the tribes

Gaming tribes aren’t trying to be obstructionist, he explains, in fig..

December 15, 2023

Spain gambling revenue jumps 23.6% to €304.2m in Q3

Gross gambling revenue (GGR) in Spain increased by 23.6% year-on-year to €304.3m (£261.2m/€332.3m) in Q3, although this was lower than the second quarter.

The figure was comfortably ahead of €240.8m in Q3 last year. However, the total fell 2.7% short of the €312.6m generated in revenue in Spain during Q2 of this year.

Breaking down the Q3 figures, casino was again the primary source of GGR in Spain. For Q3, casino revenue amounted to €160.3m, up 25.3% on last year representing 52.7% of the whole market.

The highest amount of growth came in the live roulette sector, with GGR up 27.8%. There was also significant growth in the slots segment, with GGR jumping 25.9%.

In terms of quarter-on-quarter performance, blackjack GGR jumped 11.5%, slots 8.1% and live roulette 5.4%. However, conventional roulette GGR fell 2.2% from Q2.

Q3 sports betting revenue exceeds €113.0m

Elsewhere, sports betting revenue increased 22.7% year-on-year to €113.5m, accounting for 37.3% of all GGR on Q3.

Pre-..

December 15, 2023

ACMA flags gambling giants for breaching in-play betting rules

The Australian Communications and Media Authority (ACMA) has revealed four leading online gambling brands have breached in-play betting rules in the country, with Ladbrokes and Bet365 among those flagged.

ACMA said the operators breached interactive gambling rules through the use of “Fast/Quick codes” to facilitate in-play betting on sports. Entain-owned Ladbrokes and Neds, as well as Hillside’s Bet365 and Sportsbet, were the four guilty parties named by ACMA.

Australia’s Interactive Gambling Act 2001 prohibits in-play betting on sports matches, with only limited exceptions. These include placing the bet over the phone, whereby the player must make an actual phone call to make the wager.

Players must first gain a Fast/Quick code from an operator’s website or app to build an in-play wager. This code embeds the event, bet selection and bet type of the in-play bet. The player then quotes this code when making the call to finalise the bet.

However, ACMA said this was not the case with..

December 15, 2023

Kansas smashes sports betting handle record in November

Kansas set a new sports betting handle record for the third consecutive month in November, with players wagering a total of $260.9m (£204.5m/€237.5m) across online and retail.

The November total surpassed the existing record of $249.7m in October by 4.5%. This was also 40.0% higher than the $186.4m wagered in Kansas in November last year.

Of this total, $251.7m was spent betting online, with the remaining $9.2m wagered at retail sportsbooks across Kansas.

However, record handle was not enough to also push revenue to a record high. In November, sports betting revenue in Kansas hit $8.9m. This was 38.2% behind October’s $14.4m record but 11.3% ahead of $8.0m in November 2022.

Online sports wagering accounted for $8.2m of total revenue in Kansas. A further $753,778 came from betting at retail sportsbooks.

Boot Hill and Kansas handle surpasses $100.0m

Breaking down the market, Boot Hill Casino and DraftKings remained the clear leaders in the online sector in Kansas. The partnership h..

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Tag: Sports betting