Sports betting – Page 69 – FairOdds Network

May 16, 2023

MA online sports betting handle surpasses $566m in first full month

Online sports wagering handle in Massachusetts amounted to $566.2m in April, the first full month of the state’s newly regulated market.

Massachusetts launched legal online sports betting on 10 March, with six licensed operators currently active in the state: Barstool Sportsbook, BetMGM, Caesars Sportsbook, DraftKings, FanDuel and WynnBet.

The $566.2m wagered by consumers in April continued a strong start to legal online betting in Massachusetts, following the $548.1m spent in the opening three weeks of regulation.

Read the full story on iGB North America

May 15, 2023

Texas’ lieutenant governor says sports betting bill won’t progress

Texas’ lieutenant governor Dan Patrick has said that House Bill 1942, which details how Texas’ sports betting market would be regulated, has “little to no support” and will not progress through the senate.

Texas’ house of representatives voted in favour of HJR 102 last week. HJR 102 is a constitutional amendment which would give state citizens the chance to vote online sports betting into law.

HB1942 accompanied the amendment, and also passed through the house by a 82-51 vote.

Read the full story on iGB North America

May 15, 2023

Indiana sports betting handle continues to decline in April

Sports wagering handle in Indiana fell year-on-year in April, while the state also experienced a month-on-month decline in player spending.

Consumers bet $321.4m on sports during the month, down 10.7% from $360.0m in April last year and also 25.8% behind the $433.0m wagered in March of this year.

Basketball was again the most popular sport to bet on, drawing $91.6m in wagers, ahead of baseball on $61.2m and football with $3.4m. Some $91.6m was wagered in parlay bets and $74.0m was spent betting on other sports.

Read the full story on iGB North America

May 15, 2023

Fanatics Betting and Gaming to acquire PointsBet US

The Fanatics Betting and Gaming (FBG) arm of sports retail giant Fanatics has agreed a deal to acquire the PointsBet US division of PointsBet Holdings for $150.0m.

Under the agreement, which remains subject to shareholder approval and certain regulatory and other conditions, PointsBet will retain both its Canadian and Australian business and operations and continue as an Australian Stock Exchange-listed company.

PointsBet will keep hold of its proprietary sports wagering, racing and igaming platform and be granted a perpetual, royalty-free licence to exploit the Banach technology assets, which were acquired by PointsBet in March 2021.

The deal also states that PointsBet will retain its teams in Australia, Canada and India, as well as its Australian-based technologists, traders and quants.

Other aspects of the deal include that PointsBet will provide services to FBG prior to the final closing of the deal and be reimbursed for the cost of these services by FBG.

In addition, the exis..

May 12, 2023

Brazil on the brink of sports betting regulation

Brazil’s government has launched a provisional measure for sports betting, in a move that marks the end of a 20-year wait period for the country.

The provisional measure (PM) was adopted by Brazil’s president, Luiz Inácio Lula da Silva and signed by the ministries of finance, planning, management, health, tourism and sports.

Once signed by President Lula, the PM will be published by Brazil’s government and will be enacted for an initial maximum period of 60 days, before it can be extended for another 60 days.

What are the measures?

A 16% tax on gross gaming revenue (GGR) will be payable by licensed operators. Percentages of this will be distributed to public health initiatives and anti-match-fixing initiatives.

In total, 2.5% will be given to the National Fund for Public Security. Elsewhere, 1.6% will go to sports clubs and 10% to social security. The ministry of sports will receive 1% and education initiatives 0.8%.

Players will be subject to 30% income tax on winnings, which wi..

May 12, 2023

Iowa sports betting handle continues to decline in April

Iowa experienced another year-on-year drop in sports wagering handle in April, although the state was able to report an increase in revenue.

Consumers spent $172.6m betting on sports during the month, down 2.7% from $177.4m in April 2022 and also 25.8% behind the $232.6m wagered in March of this year.

Of this total, $157.5m was wagered online, while the remaining $15.1m was bet with retail sportsbooks across the state.

Read the full story on iGB North America

May 12, 2023

Texas House clears online sports betting amendment bill

The Texas House of Representatives has voted through a constitutional amendment bill that would allow voters in the US state to legalise online sports betting.

HJR 102 cleared the House by a vote of 101-42 yesterday (11 May) and will now progress forward to the state’s senate for further debate.

Should it pass into law, the constitutional amendment itself would not legalise wagering, but would permit a state-wide vote to be held on the issue. This would take place at an election on 7 November this year.

Read the full story on iGB North America

May 12, 2023

English FA charges Accrington player over betting breach

The English Football Association (FA) has charged Accrington Stanley player Mitch Clark with a breach of its betting rules.

According to the FA, Clark placed 312 bets on football matches between 8 February 2022 and 10 March 2023.

This, the FA said, was in breach of Rule E8 on betting, which bans any player, match official and coaches from level eight and upwards in the English football pyramid from placing bets on games anywhere in the world.

As such, the FA charged Clark with misconduct, giving the defender until 17 May to issue a response.

Clark plays for Accrington Stanley, which was relegated from League One, the third tier of English club football, in the 2022-23 season. He was with the club for the entire period in which he placed the bets.

Prior to joining Accrington in the 2021-22 season, Clark played for Port Vale, while he also had spells with the youth teams of both Aston Villa and Leicester City.

Clark is the latest professional player to face betting charges from th..

May 10, 2023

Kindred launches new platform in New Jersey

Kindred has announced that its proprietary tech platform is now live in New Jersey, which the business said provides it with a “richer” set of analytics and data.

The New Jersey Division of Gaming Enforcement (NJDGE) gave final approval for the platform’s launch earlier in the year. Kindred is currently active in the New Jersey gaming market through its flagship Unibet brand.

The company described the new platform as an “important” step in rolling out the enhanced offering throughout all its gambling services in the US.

Kindred said the platform improves the customer experience through customisable and personalised content and products and gives Kindred access to better analytics and flexibility. The company added that this will allow the operator to create a safer environment for its consumers.

Kindred enhanced platform live in New Jersey

Kindred CEO Henrik Tjärnström said he was “proud and grateful” of the product the business’ team had created.

“However, the true winners are o..

May 10, 2023

SuperBook Sports launches in Maryland

Las Vegas-based sports wagering business SuperBook Sports has announced the launch of its online and land-based sports betting offering in the state of Maryland.

Consumers in Maryland can download the SuperBook Sports app or visit the website and place bets across a wide range of sports and competitions.

Players can also wager in-person at the new SuperBook Bar & Restaurant at Oriole Park at Camden Yards, the home of Major League Baseball franchise the Baltimore Orioles. The facility features 38 televisions and an LED wall for watching live sports events.

Read the full story on iGB North America

May 10, 2023

Episode 16: Hugo Baungartner talks Brazilian gaming regulation

Brandt Iden and Brendan Bussmann step outside the US to discuss ongoing sports betting developments in Brazil, plus the all-important go-live date for the market.

The development of sports betting in Brazil has been happening over the last 20 years, with people waiting eagerly for just as long, says Hugo Baungartner, the special guest this week on World Series of Politics.

A law that could legalise sports betting in Brazil is said to be imminent

“It’s the giant,” he says. “Everyone is talking about it. Everybody wants to come to Brazil.”

He notes that law has been in place to allow sports betting in Brazil since 2018, but that there has been no regulation yet, and nothing was made official by then-president Jair Bolsonaro.

But this regulation is imminent, Hugo insists, with ministers working for Brazil’s newest president Luiz Inácio Lula da Silva preparing a law that could be signed in the coming days.

What can Brazil expect?

Hugo says Brazil’s government will impose a 15% tax ..

May 9, 2023

85% of Americans support end of federal sports betting ban

New research commissioned by the American Gaming Association (AGA) has found that 85% of American adults agree that the Supreme Court was right to strike down the federal sports betting ban in 2018.

Nearly five years to the day when the US Supreme Court decided to overturn the Professional and Amateur Sports Protection Act (PASPA), a majority of Americans believe that justices were correct in their decision, according to the AGA.

The ruling – which paved the way for the state-by-state legalisation of sports betting – is more popular than it was in the past. A huge 85% of those polled believed it to be the correct course of action, compared to 63% in 2019. Meanwhile, 77% of US consumers also support legalisation in their state of residence.

aga president and ceo bill miller

“American adults have always enjoyed betting on sports, and overwhelmingly value the ability to bring their action into a legal market, close to home,” said AGA president and CEO Bill Miller.

“The rapid spread ..

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Tag: Sports betting