Subscribe to the iGaming newsletter Delaware was able to generate over $322,000 (€273,000) in wagers on the first day of full-scale sports betting in the US state Delaware takes $322k in sports bets on opening day 7th June 2018 | By contenteditor Delaware was able to generate over $322,000 (€273,000) in wagers on the first day of full-scale sports betting in the US state. On Tuesday, Delaware began accepting it first full sports wagers after the state last week became the first to legalise single-game wagering since the Supreme Court voted to overturn the federal 1992 Professional and Amateur Sports Protection Act (PASPA). Delaware officially launched its regulated, full-scale sports betting service at 13:30 EDT on Tuesday, with GVC Holdings-owned Stadium Technology Group’s proprietary sports betting platform powering sportsbooks at the state’s three casinos. According to ESPN, Delaware Lottery director Vernon Kirk said that Delaware Park, Dover Downs Hotel & Casino and Harrington Raceway & Casino took a combined $322,135 in bets on the opening day. Delaware Governor John Carney placed the first full sports wager in the state, betting on the Philadelphia Phillies to beat the Chicago Cubs in Major League Baseball. “For us, it’s really an enhancement of our tourism industry,” said Carney, whose $10 proved successful after the Phillies won 6-1. “It will attract a lot of visitors to our state, particularly at this time of year, during the summer, coming to our beautiful beaches south of here. “They come here and stop at the casinos and do slot machine and table gaming. “This will be another opportunity for them.”Related articles: Delaware to take first sports bets Delaware legalises sports betting Topics: Finance Sports betting Regions: US Delaware Finance AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Address
Sports data intelligence provider Sportradar will partner with PlaySight and the EuroMillions Basketball League (EMBL), the professional men’s basketball competition in Belgium, to launch a new streaming service to better engage fans and maximise betting opportunities.Coverage of all EMBL games and associated content will now be produced and distributed via PlaySight’s Smart AI and automated production sports technology through Sportradar OTT, the supplier’s over-the-top streaming product. Fans of the league in Belgium and beyond will also see automated graphics from LIGR (Live Graphic Systems) embedded into all EMBL games as part of the partnership.Wim Van de Keere, the General Manager of the EMBL, said he hoped the partnership would blaze a trail for professional basketball leagues.“We believe that this will be a blueprint for other professional leagues across the world,” Van de Keere said. “We can’t wait to get started on this new collaboration for next season and have carefully selected best-in-class partners with the capabilities offered by Sportradar, PlaySight and LIGR.“Beyond the enhanced viewing experience, we look forward to adding real-time video for coaching and instant replay purposes for our referees to further enhance the quality of our basketball. It will also open up additional commercial opportunities for the clubs and the league.”PlaySight’s Smart sports artificial intelligence solution, which is adapted from technology used to train Israeli fighter pilots, was initially developed for tennis in 2010 before the company expanded to other sports including basketball in 2017. The company’s Basketball SmartCourt technology is already used by serveral professional teams including the NBA’s Golden State Warriors, Toronto Raptors and Boston Celtics. Powered by computer vision, AI and proprietary algorithms, PlaySight’s technology provides real-time video for fans, match officials and coaches.Felix Blank, Sportradar’s director of digital platforms, said PlaySight made for a natural partner for the supplier.“PlaySight’s live and on-demand video capabilities will integrate seamlessly with the Sportradar OTT platform, improving operational efficiency while ensuring fans enjoy the best possible experience when watching the EuroMillions Basketball League live or on demand.LIGR, meanwhile, is an alumnus of Australia’s leading tech accelerator, Startmate and counts broadcast and technology companies, including Input Media, as clients and partners as well as the Australian Football League and the European Cricket League.The developer’s chief executive Luke McCoy said he expects the technology to both engage fans and create new commerical opportunities.“We are rapidly expanding our team and technology within our automated, cloud graphics platform and continue to be led by a deep passion for sports and basketball on the world stage,” McCoy said. “We are excited to help expose the talent within the EMBL, engage new and old fans with in-game statistics and highlight key performances while opening up live, in-game commercial opportunities that previously didn’t exist.” Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Sports betting Sportradar strikes Belgian basketball live streaming deal 9th July 2019 | By Daniel O’Boyle Topics: Sports betting Tech & innovation Regions: Europe Western Europe Belgium Sports data intelligence provider Sportradar will partner with PlaySight and the EuroMillions Basketball League (EMBL), the professional men’s basketball competition in Belgium, to launch a new streaming service to better engage fans and maximise betting opportunities. Subscribe to the iGaming newsletter
Finance Regulation and low market volatility hits Plus500 in H1 Israeli Contracts for Difference trading provider Plus500’s revenue declined 68% year-on-year to $148m for the first half of 2019, while net profits fell by 80% to $51.6m amid what the company described as “a difficult period for the entire industry.”European regulations regarding Contracts for Difference trading, as well as low levels of market volatility, had a major effect on the company’s revenue.“Our first half performance, and trading to date in the third quarter 2019, is consistent with current expectations for 2019,” chief executive Asaf Elimelech said, however.In February, EU regulations limited the amount of money amateur traders can borrow from their brokers, a move which prompted Plus500 to announce that profits in 2019 would be “materially lower” than the prior year and the company’s share price to decline by 56.6%.In addition to regulation, Eimelech highlighted a lack of market volatility as a reason for lower revenue in 2019.“The group performed well during what was a difficult period for the entire industry,” Elimelech said. “Financial markets from February 2019 to April 2019 were very stable, providing a limited number of trading opportunities for customers.”Elimelech added that the company responded to these challenges by finding new ways to innovate: “Given the market backdrop, we continued to concentrate on delivering significant enhancements to the trading platform, with the addition of functionality which appeals to more sophisticated traders, and to the level of customer service, with Plus500 becoming the first major CFD trading provider to integrate WhatsApp as an additional customer communication channel,” he said.Following the European regulatory changes, the company’s percentage of revenue from the European Economic Area declined to 52.3%, while 15.3% came from Australia.73% of the company’s revenues came from customers who had been trading on Plus500 for more than one year, while 14% came from customers who had been trading for six months or less.Plus500’s expenses also declined, with selling and marketing expenses declining to $71.2m, with administrative and general expenses down to $12.3m. After financial income and expenses, plus taxes, were factored in, net profit dropped from $261.7m in H1 2018 to $51.6m.Most of the decline in revenue and profit came from the first quarter of 2019, while increased volatility in the second quarter led to some improvement. The company took in $94.1m in revenue in Q2 of 2019, up from $53.9m the previous quarter, after acquiring 26,234 new customers.“Overall, the Board remains optimistic about Plus500’s future prospects and its potential to create value for all stakeholders,” Elimelech said.The company also announced a $50m share buyback, helping Plus500’s share price rise by 20% from Monday’s close. Subscribe to the iGaming newsletter Israeli Contracts for Difference trading provider Plus500’s revenue declined 68% year-on-year to $148m for the first half of 2019, while net profits fell by 80% to $51.6m amid what the company described as “a difficult period for the entire industry.” Topics: Finance AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Tags: Online Gambling 13th August 2019 | By Daniel O’Boyle Email Address
27th September 2019 | By Daniel O’Boyle Nevada’s sportsbook handle for the month of August remained behind New Jersey for August, despite a 22.1% increase to $287.8m, while overall casino revenue slipped back below $1bn at $952.4m. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter August Nevada sportsbook handle remains behind NJ Tags: Slot Machines Casino & games Nevada’s sportsbook handle for the month of August remained behind New Jersey for August, despite a 22.1% increase to $287.8m, while overall casino revenue slipped back below $1bn at $952.4m.The state’s $952.4m worth of revenue was the lowest figure since April but up 4.3% year-on-year, as a total of $11.78bn was wagered in the state.The sports betting handle for the month was behind New Jersey’s $293.6m, after falling back behind the Garden State for July. Sports betting revenue totaled $18.7m, less than New Jersey’s $25.2m, but up 62.4% year-on-year and 20.9% month-on-month.The return of college American football and the approach of the NFL led to a 30-fold month-on-month increase in American football bets in the state, and a 110% year-on-year increase with $72.3m wagered. While the handle lagged far behind baseball’s $178.9m, the state made substantially more revenue on American football at $12.7m compared to baseball’s $6.7m, boosted by the fact that many American football bets made in August were yet to pay out, allowing for a 17.5% win percentage.Read more on iGB North America Topics: Casino & games Finance Sports betting Slots Table games Regions: US Nevada Subscribe to the iGaming newsletter Email Address
Gambling industry association the Betting and Gaming Council (BGC) has praised the UK government after it was confirmed that gambling companies will qualify for the business rates holiday designed to mitigate the shut-down enforced by novel coronavirus (Covid-19).Last week, Chancellor of the Exchequer Rishi Sunak announced a series of measures to help businesses that may be disproportionately affected by the pandemic, including making all retail, leisure and hospitality businesses exempt from paying business rates for 12 months.At the time, gambling businesses were not included in the list of companies that would benefit from the scheme, which drew criticism from the BGC.However, the government has now announced this will also apply to land-based businesses such as betting shops, casinos and bingo halls. This comes after the government on 23 March instructed all casinos, betting shops and bingo halls to temporarily close as part of measures to combat the spread coronavirus.That announcement came after it was confirmed that gambling businesses would be eligible for government grants to cover up to 80% of salaries for workers unable to do their jobs during the shut-down – something welcomed by the BGC.“The government are clearly working night and day to beat the virus and to ensure that jobs and businesses throughout our country are protected,” BGC chief executive Michael Dugher said.“On top of the help on employment, extending help on business rates to all businesses that have had to shut down is another much-needed shot in the arm that will help to protect tens of thousands of jobs.”Without the ability to generate revenue, the BGC had said that the majority of the 70,000 people working in the UK betting and gaming industry were at risk of losing their jobs due to a project drop in gambling activity.The BGC said much of this would be due to the cancellation of many major sports and racing events, which account for 75% of UK sports betting spend. BGC members pay over £3bn (€3.3bn/$3.5bn) in annual taxes, contribute £350m to horse racing and between £120m and £200m to the UK tourism sector through international visitors and their spend, the association noted.In addition to the business rates holiday and job retention scheme, land-based gambling will benefit from certain other measures set out by the Chancellor.The Coronavirus Business Interruption Loan Scheme, which is interest-free for 12 months, is also available to gambling businesses, while the government has agreed to defer the next quarter’s VAT payments for businesses.“Our industry will in turn do its absolute upmost to help with the fight against the virus and play our part in this historic national effort, including offering up staff and premises to help,” Dugher said.“And although gambling has fallen markedly with betting shops and casinos closing, and with the lack of sport which accounts for a big chunk of online betting too, we are also stepping up our safer gambling measures at this time.” Government extends business rates holiday to gambling sector 25th March 2020 | By contenteditor Bingo Email Address Regions: UK & Ireland AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Tags: OTB and Betting Shops Gambling industry association the Betting and Gaming Council (BGC) has praised the UK government after it was confirmed that gambling companies will qualify for the business rates holiday designed to mitigate the shut-down enforced by novel coronavirus (Covid-19). Subscribe to the iGaming newsletter Topics: Casino & games Finance Legal & compliance Strategy Bingo
Singapore Pools to resume online betting Email Address Lottery 15th June 2020 | By Daniel O’Boyle Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Lottery Sports betting Singapore’s state-owned lottery operator Singapore Pools resumes online and telephone betting services following the closure of its operations in April due to the novel coronavirus (Covid-19) pandemic. Singapore’s state-owned lottery operator Singapore Pools resumes online and telephone betting services following the closure of its operations in April due to the novel coronavirus (Covid-19) pandemic.The operator suspended all of its sales, both online and retail, on 7 April when the Singapore government announced that all non-essential workplaces and schools were to be shut. Local racing remains suspended, with the Singapore Turf Club saying in May that it is unlikely to return until July at the earliest.While online and telephone lottery sales will remain unavailable, customers may place bets on sports and racing from 16 and 17 June respectively.Among the sports events available for betting are the Bundesliga and La Liga in football, which returned in May and June respectively. Meanwhile, horse racing from Australia and South Africa will be available.While lotteries remain suspended, draws have been postponed rather than cancelled. This means that tickets purchased before the suspension will remain valid. A return date for lotteries has still not been set.The suspension came soon after the country’s Ministry of Home Affairs announced plans to review its gambling regulations and create a new single regulatory authority for the gambling industry.Currently, regulation of gambling is divided between a number of different government departments, including the Casino Regulatory Authority regulating casino gambling, the Gambling Regulatory Unit of the MHA regulating remote gambling and fruit machines and the Singapore Totalisator Board governing retail pools betting.These will be consolidated under the Gambling Regulatory Authority from 2021. In addition, plans were announced to update gambling regulations to reflect changes in technology and consumer habits.Casinos in Singapore had originally been planned to open on 9 June, but this had been pushed back indefinitely, which contributed to H2 Gambling Capital downgrading its 2020 global gaming revenue forecast again by $5bn in the biggest absolute fall in FY expectations for five weeks. Regions: Asia Singapore
Sports data and content provider Sportradar has signed a multi-year extension to its partnership with daily fantasy sports tips platform FantasyPros, covering the supply of real-time data across all major US sports.FantasyPros will continue to utilize Sportradar’s real-time data on its properties for content analysis, insights, and matchup breakdowns to help players improve their fantasy sports performance.The extension will also enable FantasyPros to use the data to develop new tools and content for BettingPros, the sports betting arm of its business that launched in 2018BettingPros offers consensus sports betting picks from experts, as well as tools such as accuracy ratings, consensus picks, daily articles, and sports betting alerts. Each tool will now be integrated with Sportradar data.Read the full story on iGB North America. Regions: US Email Address Topics: Sports betting Tech & innovation DFS DFS Sportradar extends data deal with FantasyPros Subscribe to the iGaming newsletter Tags: Fantasy Sports Sports data and content provider Sportradar has signed a multi-year extension to its partnership with daily fantasy sports tips platform FantasyPros, covering the supply of real-time data across all major US sports. 9th July 2020 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter
The remaining 5% will go to the state’s Department of Mental Health and Substance Abuse Services, to fund grants for problem gambling services. Topics: Finance Sports betting Results 2020 Online sports betting Bettors in Tennessee wagered $27.4m in the first seven days of legal mobile wagering, according to figures from the state’s Education Lottery, the body responsible for licensing and regulation of the vertical. The majority of this tax revenue (80%) is to go to the state treasurer to deposit in the Lottery for Education Account, the main beneficiary of lottery revenue, with a further 15% to be distributed to local governments in the state. Email Address “These numbers are encouraging as we work to protect the consumer, promote fairness in sports and regulate this new Tennessee industry that provides critical funds for education, as well as local governments and problem gambling services,” Tennessee Education Lottery president and chief executive Rebecca Paul Hargrove said. Tags: Tennessee Education Lottery For the week to November 8, customers staked $27.4m in total, which resulted in revenue of $2.5m for the seven day period. This generated taxes of $509,000 for the state. Online sports betting For that day, handle came to $5.1m, and after payouts and adjustments – including the state’s controversial 10% fixed payout rate – revenue amounted to $800,000. The state’s 20% gross revenue levy resulted in licensees paying tax of $160,000. Sports betting – for mobile devices only – went live in Tennessee from 1 November, with industry giants BetMGM, DraftKings and FanDuel among the first wave alongside local brand Action247. Tennessee punters stake $27.4m in first week of legal wagering Regions: US Tennessee 17th November 2020 | By Robin Harrison Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Read the full story on iGB North America.
AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Betting and igaming operator Rush Street Interactive (RSI) has announced that it will launch its BetRivers.com brand in Virginia tomorrow (January 28), making it the third operator to launch in the state. “We’re pleased to add Virginia to the growing list of states RSI and BetRivers.com call home as we continue to expand across the country and bring our exciting and trusted online sports betting product to new customers who appreciate an operator like us who focuses on earning and retaining player trust,” RSI president Richard Schwartz said. Read the full story on iGB North America. Sports betting RSI to launch BetRivers.com brand in Virginia BetRivers.com will operate in the US state via a partnership with Rush Street Gaming’s yet-to-be-built land-based facility Rivers Casino Portsmouth – an agreement that will permit RSI to offer sports betting in Virginia for 20 years. Subscribe to the iGaming newsletter 27th January 2021 | By Robert Fletcher Rivers Casino will be the first land-based casino in the state to launch with an online sports betting partner, though the actual casino facility is not due to open until 2023, with construction work to begin this year. Tags: RSI BetRivers Regions: Virginia Topics: Sports betting Online sports betting Email Address
AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Marketing & affiliates Marketing M&A Subscribe to the iGaming newsletter Thimba Media acquires online casino assets from Astro Media Online gambling performance marketing business Thimba Media has acquired the online casino assets of Swedish digital publisher Astro Media Group. Thimba Media chief marketing officer Ferdia O’hAodha added: “At a time when the majority of our competitors are looking at the US market, we are looking at value investments across locally regulated European markets providing us with strong returns to grow our business. Thimba Media said the assets are expected to generate net income in excess of $580,000 over the next 12 months. Regions: Europe “Our next target will be a US focused acquisition in late 2021.” M&A Email Address Tags: Thimba Media Astro Media Group Ireland-based Thimba Media paid $1.8m (£1.3m/€1.5m) to purchase the assets, which it said are online casino product comparison portals across predominantly locally regulated markets including Sweden, the UK and Latvia. 7th April 2021 | By Robert Fletcher “In addition to having strong agreements in place with some of the largest casino operators in Latvia and Sweden, the assets also have extensive reach in the CIS markets.” “This acquisition is another major step toward our goal of becoming a large affiliate company and realising our goal of sustainable and accelerated growth both organically and via our systemic M&A strategy,” Thimba Media chief executive Chris Russell said.