Sports betting – Page 35 – FairOdds Network

December 12, 2023

Kentucky online sports wagers reach $323.6m in opening weeks

Consumers in Kentucky spent $323.6m (£257.2m/€300.2m) betting on sports online during the opening weeks of the Bluegrass State’s newly regulated market.

Kentucky launched legal online sports betting on 28 September. This followed the roll out of retail wagering on 7 September, with online delayed as part of a staggered launch.

The Kentucky Horse Racing Commission (KHRC) has now published figures for the opening weeks of the market. This data covers the final three days of September and the whole of October.

During this period, online bets amounted to $323.6m. This included $36.8m across the three days of September and $286.8m in October.

Adjusted gross revenue from online betting for the period reached $54.2m. Some $1.5m was generated in the final days of September, while revenue in October hit $52.7m.

FanDuel edges out DraftKings in Kentucky

Looking at individual operators, FanDuel led the way in the opening period. Partnered with Churchill Downs, FanDuel took $20.3m in revenue ..

December 11, 2023

FanDuel lobbied against New York rules on advertising near colleges

FanDuel Group lobbied against rules that prohibit advertising sports betting near colleges and universities in the state, according to unredacted documents released by the New York State registrar.

Updated rules on sports betting in New York were introduced in October. This came after the New York State registrar considered opinion from various licensees, including Flutter Entertainment-owned FanDuel.

The ban on betting adverts near education establishments is now in place. However, state registrar documents now show that FanDuel voiced its opposition to such a move.

NEW YORK STATE REGISTRAR DOCUMENTS SHOW FANDUEL LOBBIED AGAINST ADVERTISING NEAR COLLEGES

Dated 18 October, the document said FanDuel objects to a ban on adverts in the “area of a college or university campus”. This, the document says, may be interpreted to “include unaffiliated residential and commercial areas that border a college or university campus”.

However, the New York State Gaming Commission disagreed. The r..

December 11, 2023

New York sets $2.11bn handle record in November

Consumers in New York spent $2.11bn (£1.68bn/€1.96bn) betting on sports online during November, a new record for the state and the highest amount ever bet in any US state in a single month.

The November figure surpassed the existing New York record of $2.01bn set in October this year by 5.0%. New York in October became the first state to take over $2.00bn in legal sports bets in any given month.

The amount wagered in November was also 36.1% ahead of $1.55bn in the same month last year.

Online revenue for the month reached $150.9m. This was 9.3% behind the record $166.3m set in October but 1.8% higher than $148.2m in November 2022.

Out in front in New York with FanDuel

Flutter Entertainment-owned FanDuel stretched its lead in New York in November. Players spent $923.4m wagering on sports with FanDuel, with revenue reaching $69.2m for the month.

Long-time rival DraftKings was second with a $723.1m handle and $54.3m in revenue. Next was Caesars, taking $205.0m in bets and posting re..

December 8, 2023

Stats Perform pens 2030 extension to WTA rights data deal

Data provider Stats Perform has penned an exclusive agreement to continue as the rights partner of the Women’s Tennis Association (WTA) until 2030.

Stats Perform will continue to be the exclusive data rights partner of the Women’s Tennis Association (WTA) after signing an extended deal.

Under the agreement, Stats Perform will continue to serve as the official data supplier of the WTA. The deal will see the provider deliver an exclusive umpire-derived data feed for matches and an ultrafast data feed collected by the supplier’s Opta analysts.

Data collected by Opta analysts will include detailed match statistics, including rally and shot level. This, Stats Perform says, will increase the level of live insight available for WTA matches. It will also help power a new range of broadcast, second screen and betting experiences.

Extended until 2030

Stats Perform signed an initial six-year contract back in 2020 to become the WTA’s official data supplier. This fresh renewal, announced on..

December 7, 2023

Fitch “neutral” on global gaming outlook for 2024

Fitch Ratings forecasts global gaming outlook for 2024 as “neutral”, citing pullback in certain US markets and potential stagnation in Europe.

A new report from Fitch Ratings forecasts the global gaming outlook for 2024 as “neutral”.

It is the second straight year Fitch has selected a “neutral” view for its gaming outlook. Fitch cited “slight pullback” from the “pent-up demand” in the United States as one of the reasons for its classification.

In general, the US is still performing well after a “robust” 2022. However, Fitch’s 6 December report details how regional gaming is showing some indication of stagnation.

Elsewhere, Asia Pacific is flourishing under improved demand thanks to the mass market returning after the Covid-19 pandemic. Singapore, meanwhile, continues to “perform above expectations”.

Limited regulation in the Middle East and Africa (part of EMEA) is proving beneficial, alongside the rise in US online profitability. Over in Europe, The UK Gambling Act review is exp..

December 7, 2023

Greenblatt: 2024 the year BetMGM unlocks Las Vegas

Speaking at Morgan Stanley's Global Consumer and Retail Conference, BetMGM's CEO says 2024 will be the year they unlock America's gaming capital.

BetMGM will “unlock” Las Vegas in 2024, according to CEO Adam Greenblatt.

Speaking at the Morgan Stanley Global Consumer and Retail Conference on Wednesday (6 December), Greenblatt says BetMGM will look to capitalise on the influx of sports events in Las Vegas.

Sports and Las Vegas licence to be key

The recent Formula One race in the city attracted 300,000 fans and was a record-breaking weekend for BetMGM. The operator took three times the number of bets than any other F1 race in its history.

“[20]24 is the year we unlock Las Vegas,” Greenblatt stated. “Why that’s important, is because recruiting a player in Vegas costs 27% of the cost of acquiring that player in the open market. They’re also more than 130% as valuable.

“The role of Vegas in player acquisition and retention is really important. Those players we acquire ..

December 7, 2023

Brazil gambling regulation vote delayed to 12 December

Originally scheduled to take place at 2pm local time (5pm GMT) on 6 December, Brazil's senate vote has now been rescheduled until Tuesday 12 December.

Prospects are now bleak that it will be approved this year.

While the proposal of Brazil’s gambling regulation remained on the agenda, senators were unable to vote on the bill due to the lack of quorum.

As the minimum number of senators needed to vote was not met, it was not possible for the vote to go ahead as approval of the bill risks being compromised.

Factors behind the delay

When Brazil’s Economic Affairs Commission (CAE) approved Bill 3,626 two weeks ago, the industry thought the senate plenary vote would follow shortly after. But this has not been the case.

The senate plenary’s vote was scheduled for 29 November – but the vote was delayed until December after more than 100 amendments were added to the bill.

The major reason behind the delay is that 15 key senators were attending the United Nations Climate Summit (C..

December 6, 2023

Brazil: Could today’s vote be delayed?

Today (6 December) Brazil's senate plenary is set to vote on whether to approve Bill 3,626/23, which would legalise sports betting and igaming. But could this crucial vote be delayed?

When Brazil’s Economic Affairs Commission (CAE) approved Bill 3,626 two weeks ago, the industry thought the Senate plenary vote couldn’t be too far away. Unfortunately, that wasn’t the case.

The senate plenary’s vote was initially scheduled for 29 November. However, the vote was delayed until December after more than 100 amendments were added to the bill.

This takes us to the present day. The senate plenary’s vote is scheduled to take place at 2pm local time (5pm GMT).

iGB understands that this vote will be delayed by six days, to take place on 12 December. Senators have allegedly been told that the minimum number of senators needed to vote today will not be met.

In this case, the vote could not go ahead because approval of the bill may be compromised.

What effect would this have?

If this vot..

December 6, 2023

DraftKings CEO Robins “keeping a close eye” on ESPN Bet launch

Speaking at the third annual Craig-Hallum Online Gaming Conference, DraftKings CEO, Jason Robins, says he is “keeping a close eye” on ESPN Bet's launch.

DraftKings CEO Jason Robins isn’t concerned over ESPN Bet’s launch, instead claiming it could be a positive for the market.

ESPN Bet, a product of a $1.5bn (£1.2bn/€1.4bn) deal earlier this year between Penn Entertainment and Disney-owned ESPN, launched across 17 states on 14 November.

The ESPN Bet mobile app was downloaded over a million times in the first six days after its introduction. This was no doubt helped by the busy sports calendar of Thanksgiving week.

Unfazed by the competition

Despite ESPN Bet smashing the record for sportsbook downloads, Robins is unfazed by the competition.

Taking time during his presentation at the third annual Craig-Hallum Online Gaming Conference, he re-affirmed DraftKings’ position as one of the top two operators in North America alongside FanDuel.

“[It’s] not the end of the world in ..

December 6, 2023

Churchill Downs opens $90m Derby City Gaming Downtown in Kentucky

Churchill Downs Incorporated (CDI) has opened its new $90.0m (£71.5m/€83.4m) Derby City Gaming (DCG) Downtown historical racing machine (HRM)venue in Kentucky.

The facility, CDI’s sixth in the Bluegrass State, has a Kentucky Derby theme and houses 500 HRMs. The CDI venue also features three food and beverage amenities, 130 parking spaces and an exterior 3D video board.

CDI said the project generated 400 construction jobs and resulted in over 150 permanent jobs at the venue. More than $14.0m of the investment was spent with minority, women and veteran-owned subcontracting services.

“This project is one of which I’m particularly proud because in addition to its impact of the Kentucky horse industry, it’s going to bring new energy to our downtown and stimulate investments like it,” CDI CEO Bill Carstanjen said.

“DCG Downtown will give locals, bourbon tourists, convention attendees and all our visitors, another much needed entertainment facility in this region. Investing in downtown L..

December 6, 2023

Australian Senate approves credit card online gambling ban legislation

The Australia Senate has approved legislation to prohibit the use of credit cards for online gambling in the country, with a near-blanket ban set to come into effect within six months.

The Interactive Gambling Amendment (Credit and Other Measures) Bill 2023 was introduced in September. This legislation seeks to ban credit cards and other credit-related products, as well as digital currencies, in Australia.

Australia’s House of Representatives passed the bill last month, allowing it to progress to the Senate. Today (6 December), the Senate also approved the legislation, clearing the way for it to pass into law.

The country already has a ban in place on gambling with credit cards at land-based venues. This means the bill effectively places a blanket ban on credit card gambling across Australia.

What is in the credit card bill?

Aside from a ban on credit products, the bill features several other related measures. These include fines of up to AU$234,750 (£122,475/€143,003/US$154,282)..

December 6, 2023

Amendments submitted for California sports betting ballot

Eagle1 Acquisitions Corp, the group of backers for a proposition to legalise sports betting in California, has made several amendments to its ballot initiative in an effort to gain further tribal support.

Tabled in October, the Sports Wagering Regulation and Tribal Gaming Protection Act, would allow for legal betting. If approved, the ballot would amend Article IV, section 19 of the California constitution. This will grant tribes exclusive rights to offer retail and online betting.

The initial version of the ballot set out several measures. These included tribes submitting 15% of adjusted sports betting gross gaming revenue into a tribal wagering revenue sharing trust fund.

Tribes would also contribute 10% of their adjusted sports wagering GGR into the California homelessness and mental health fund. It was also stated that tribes would need to partner sports betting operators, which would operate as vendors. These will require approval from both the Tribal Gaming Agency and Califor..

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Tag: Sports betting