Sports betting – Page 34 – FairOdds Network

December 14, 2023

Road to ICE 2024: A fascinating year for US sports betting

On the road to ICE, iGB will prep you for the biggest show of 2024 with this new series covering the latest developments since 2023's show.

The launch of ESPN Bet earlier this year has thrown the proverbial cat among the pigeons in the US sports betting world, setting us up for an intriguing 2024.

ESPN Bet, the newly branded online sportsbook operated by Penn Entertainment, went live across 17 US states in November.

Its app was downloaded over a million times within six days of its launch. This was also aided by the busy sports calendar of Thanksgiving week.

The combination of the largest sports media brand in the US and the expertise of Penn Entertainment could threaten to topple the giants of FanDuel and DraftKings.

DraftKings CEO Jason Robins says he is “keeping a close eye” on the ESPN Bet launch. As we also saw in a recent interview with iGB, Mike Morrison, vice-president of ESPN’s sports-betting arm, was delighted with the “really smooth” launch.

“We’re thrilled,” Morr..

December 14, 2023

Indiana sports betting handle hits record $513.7m in November

Players in Indiana spent $513.7m (£406.6m/€471.8m) betting on sports in November, a new monthly record for the Hoosier State.

The November total edged out the existing Indiana record of $500.1m set in January 2022 by 2.7%. This was also up 13.6% from $452.3m in November 2022 and 19.6% higher than $429.7m in October this year.

Basketball drew the most wagers at $145.7m, helped by the start of the new NBA season in late October.

American football bets hit $136.9m and baseball $1.1m. A further $169.8m was spent on parlay bets and $59.8m betting on other sports.

In terms of taxable adjusted gross revenue, this reached $30.7m in Indiana in November. This was 23.3% behind $40.0m in the same month last year and 32.1% behind October’s $45.2m haul.

Blue Chip Casino and FanDuel regain the lead in Indiana

Breaking down operator performance, Blue Chip Casino and FanDuel returned to the front of the pack. The partnerships heralded $12.4m in revenue from $176.3m in bets in November.

Amerista..

December 13, 2023

Vermont to launch online mobile sports betting on 11 January 2024

Vermont governor, Phil Scott, and department of liquor and lottery commissioner, Wendy Knight, have announced legal online sports betting will launch in the Green Mountain State on 11 January 2024.

Players in Vermont can download apps from licensed operators and place legal bets online from this date. Consumers will soon be able to pre-register with operators ahead of next month’s launch.

The launch has been made possible after Scott signed House Bill 127 into law in June this year. The bill permits up to six online sportsbooks to operate in Vermont.

Through a competitive bid process, the Vermont Department of Liquor and Lottery selected DraftKings, FanDuel and Fanatics Sportsbook to operate mobile sports wagering platforms in the state.

Operators will pay tax at rate of 20% of adjusted gross sports betting revenue. It is hoped betting will generate an additional $7.0m in revenue for Vermont during the first year of legalisation.

The bill also provides more resources to improve r..

December 13, 2023

Tennessee passes $500m handle for first time in November

Tennessee reported $515.5m (£412.0m/€477.8m) in gross handle for November, the state’s Sports Wagering Advisory Council announced on Monday (11 December).

It is the first time handle has passed $500m in a month since sports betting went live in Tennessee in November 2020.

The 16.2% increase was a marked improvement from the 6.2% rise recorded in October. It fell short of the 72.9% month-to-month growth seen in September, although that coincided with the NFL and college football seasons getting underway.

Gross wagers also surpassed $500m for the first time, receiving $517.1m for the month. This is up 17.7% from November last year, while it is a 41.4% increase on November 2021.

The state collected $9.5m in privilege tax, again the highest amount since sports wagering was launched there.

Continued growth in Tennessee

A challenging start to sports betting in Tennessee saw revenue fall to a record low of $10.1m in August 2021.

The state has rebounded impressively since then, however,..

December 13, 2023

Strikes hit Detroit casino revenue again in November

Worker strikes across the Detroit land-based gambling sector hit casinos again in November, with revenue in the Michigan city falling 22.3% year-on-year to $79.1m (£63.1m/€73.3m).

Revenue from the city’s three land-based commercial casinos was down from $101.8m in the same month last year. The November figure was also down 4.5% from the $82.8m that Detroit posted in October this year.

The decline came against a background of strikes in Detroit. Some workers went on strike on 17 October and did not reach an agreement on pay until mid-November. This meant the MGM Grand, Greektown and MotorCity casinos were short of staff for most of the month.

Of all revenue generated by the three casinos, $76.0m came from tables games and slots. This was 23.9% behind last year’s total and 7.0% less than October 2023.

The remaining $3.1m in revenue was attributed to sports betting qualified adjusted gross receipts (QAGR). This was 63.2% higher than November 2022 and 181.8% ahead of October this year…

December 13, 2023

Bill Hornbuckle on MGM Resorts’ global growth ambitions

MGM Resorts’ home town of Las Vegas evolved beyond all recognition during Bill Hornbuckle’s time in gaming, but it’s not the only show in town. He’s eyeing up expansion across a range of global markets and expanding into new channels.

Things are booming in MGM Resorts’ home town, but it’s much more than a Vegas-based business. Hornbuckle leads global development efforts and having taken MGM into Macau he’s still looking east.

MGM Resorts looks east

Japan’s ministry of land, infrastructure, transport and tourism certified plans for a $10bn integrated resort in Osaka in April. After finalising agreements with Osaka Prefecture and City, construction can begin on the property.

Marginally closer, opportunities are emerging in the United Arab Emirates. First Wynn sealed an agreement for a resort in Ras al-Khaimah. Then a federal regulator, the General Commercial Gambling Regulatory Authority (GCGRA) emerged paving the way for resorts in other Emirates.

MGM is focused on Dubai, Hornbu..

December 13, 2023

Fanatics soft launches sports betting in Connecticut

The Fanatics Betting and Gaming (FBG) subsidiary of Fanatics has announced the soft launch of online and retail sports wagering in Connecticut.

This week, the Fanatics Sportsbook will accept 2,000 online players in the state. A full launch will follow in Connecticut from 18 December.

Players in Connecticut can download the Fanatics Sportsbook to wager online. Consumers can also visit any of 10 retail sports betting locations to bet in person.

The soft launch comes less than two weeks after FBG was named as the new sports betting partner of the Connecticut Lottery Corporation (CLC).

This agreement designates Fanatics Sportsbook as the Connecticut Lottery’s exclusive sports betting partner across mobile and retail betting. The transition had been expected to occur in mid-December.

Fanatics replaces Rush Street Interactive in Connecticut

FBG takes the place of Rush Street Interactive (RSI), the Connecticut Lottery’s former sports betting partner. The two parties announced that they..

December 13, 2023

Colorado sports betting handle tops $554m in October

Players in Colorado spent $554.9m (£442.9m/€514.5m) betting on sports in October, with online wagering accounting for more than $500.0m of this total.

Sports wagering handle in Colorado was 5.4% ahead of $526.6m in October of 2022. The monthly total was also 8.2% more than $512.8m in September this year.

Of the total amount wagered, $550.4m was spent online and $4.4m at retail sportsbooks across the Centennial State.

Turning to gross gaming revenue, Colorado operators generated $46.9m in October. This was 28.5% higher than $36.5m last year and also 3.5% ahead of September’s $45.3m total.

Online betting generated $47.0m in revenue but a $90,005 loss from retail pushed the total figure down slightly.

American football drew the most bets, with players wagering $185.2m across online and retail. Basketball followed with a handle of $63.4m, then college football on $51.8m.

Other stand-out sports in Colorado included baseball with $38.3m in bets and tennis with $32.9m. Meanwhile, parla..

December 13, 2023

Brazil’s senate votes to approve sports betting – igaming removed

Brazil's senate plenary voted yesterday (12 December) to approve the amendments to Bill 3,626/2023, which will regulate sports betting. However, igaming was removed from the bill.

Originally scheduled for 6 December, the vote was delayed due to a lack of available senators to vote.

The bill was presented by Senator Angelo Coronel to the senate yesterday evening. It contained the latest round of amendments following initial approval of the bill three weeks ago by Brazil’s Economic Affairs’ Commission.

While the bill faced significant opposition, three key highlights were focused on in yesterday’s voting session.

The first, and most notable, is that the senate voted to remove igaming from the bill. The amendment was presented by Senator Carlos Portinho, with 37 votes in favour of excluding igaming and 27 against.

In addition to the exclusion of igaming, the senate also voted to exclude virtual games and sports betting terminals. An amendment that would prohibit sports betti..

December 12, 2023

IMG wins exclusive media rights for 85 CAF territories until 2025

IMG will be the sole distributor of international media rights of the next two Africa Cup of Nations tournaments.

IMG has become the sole distributor for 85 of the Confederation of African Football’s (CAF) territories between 2023 and 2025.

The agreement, announced on Monday (11 December), sees IMG win exclusivity to distribute the international media rights of events in 85+ CAF countries. The deal does not include territories in the Middle East and North Africa, sub-Saharan Africa and other selected areas.

The arrangement secures IMG the management of broadcast deals ahead of the next two editions of the Africa Cup of Nations (AFCON).

The tournament will be held in the Ivory Coast early next year and then Morocco in 2025. IMG also holds the rights to the qualifiers for the next two editions of Africa’s most prestigious international competition.

Other events included in IMG’s deal are the Women’s AFCON in 2024, as well as the CAF Champions League.

IMG and CAF deal will “unlock g..

December 12, 2023

Sportradar scores global tennis data and streaming deal with ATP

Sportradar has agreed a global data and streaming rights deal with Tennis Data Innovations (TDI), a joint venture vehicle of the Association of Tennis Professionals (ATP) and ATP Media.

The multi-year deal grants Sportradar data and streaming rights for betting, as well as media data rights. The agreement covers all tennis events on both the ATP Tour and ATP Challenger Tour.

Sportradar said the partnership will focus on driving commercial growth for tennis and also improving fan engagement opportunities. This will include developing new betting and media products.

From this month, Sportradar will use its ATP Service+ suite of solutions to boost engagement with fans by providing value-added products and services. Features in ATP Service+ include augmented streaming, expanded in-play betting markets, video highlights and personalised and targeted betting products.

Sportradar will also work with TDI to create products for media. These, it said, will showcase more in-depth statistical..

December 12, 2023

Iowa sports betting handle rises again in November

Players in Iowa wagered $289.7m (£230.5m/€268.8m) on sports during November, up 17.1% on last year and the highest monthly total since January 2022.

The monthly Iowa handle was higher than $247.5m in November 2022 and 13.5% ahead of $255.3m in October this year.

The total was also the most spent since a record $303.3m was wagered in January 2022, some 22 months ago.

Breaking this down, some $265.8m was spent betting with online operators and $23.9m at retail sportsbooks across Iowa.

As for revenue, operators generated a total of $14.1m in November. This was 143.1% higher than $5.8m last year, although the November 2022 figures were hit by multi-million-dollar winning bet payouts to US businessman Jim “Mattress Mack” McIngvale.

However, the November revenue figure in Iowa was 33.5% behind the $21.2m generated in October this year. This was due to consumers winning significantly more in November ($275.6m) compared to October ($225.3m).

Of the revenue total, $12.6m came from online ..

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Tag: Sports betting