New Jersey sportsbooks break $1bn barrier in 2018

first_img Subscribe to the iGaming newsletter New Jersey sportsbooks break $1bn barrier in 2018 Topics: Finance Sports betting 15th January 2019 | By contenteditor New Jersey’s sports books took more than $1bn in wagers during 2018, though the state saw a month-on-month drop in both handle and revenue in December, a month that also saw FanDuel leapfrog DraftKings to become the market’s leading betting operator. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwittercenter_img Finance New Jersey’s sports books took more than $1bn in wagers during 2018, although the state saw a month-on-month drop in both handle and revenue in December.Figures for December released by the state Division of Gaming Enforcement show that by the end of the month the sports books had taken handle of $1.25bn since the first wagers were accepted in mid-June. Revenue from sports betting for this period was $94.0m.The data shows a total of $319.2m was wagered during December, with 76% of bets placed online.That total handle figure was down slightly from November, by 3.5%, though December has historically been a softer month than November for sportsbooks in Nevada, where betting has been legal since 1949.Sports betting revenue for New Jersey’s operators was $20.8m, which was down 1.8% on November. Total revenue of $94.0m was generated from June 14, when Governor Phil Murphy placed the first legal bet in the state, to December 31, 2018.FanDuel, based at Meadowlands, leapfrogged rival DraftKings to become the state’s biggest winner with revenue of $9.1m, up 30% on November and the largest betting revenue figure recorded in New Jersey.Resorts Digital, which hosts DraftKings, reported revenue of $6.7m, which was down 5.6% from November.Football was the most popular betting sport in New Jersey in 2018, accounting for $501.0m of all amounts wagered  – 40% of the total – and gross revenue of 22.3m.Sports betting made up 8.1% of New Jersey’s total gaming revenue of $258.8m during December, which was almost identical to November’s share. Total gaming revenue in December was up 25.1% year-on-year.The state’s regulated iGaming market performed strongly over the month, with revenue up 39.7% to $29.0m. With revenue of $10.2m, Golden Nugget was by far the largest operator, far ahead of the second-placed Borgata Hotel Casino and Spa, which generated revenue fo $5.1m in December.For all forms of gambling, 2018 revenue was up 9.2% year-on-year to $2.90bn, with online gaming contributing $298.7m to this total. Again Golden Nugget contributed the largest share, with full-year revenue of $104.8m, followed by the Borgata with $54.1m. Online casino vertical improved by 25% to $277.3m in 2018, while poker fell 12% to $21.4m.Golden Nugget’s online casino sites reported revenue of $10.2m, beating the previous monthly best for an operator of $9.7m in October 2018. Regions: US New Jersey Email Addresslast_img read more

Stats Perform hands senior roles to Steve and Peter Hirdt

first_img Email Address People Sports data provider Stats Perform has handed senior positions to brothers Steve and Peter Hirdt, two of the leading names in US sports broadcast research and content. 10th December 2019 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Sports data provider Stats Perform has handed senior positions to brothers Steve and Peter Hirdt, two of the leading names in US sports broadcast research and content.Steve Hirdt will take over as senior director of operations and research at Stats Perform, while Peter will serve as senior director of content and broadcast service. Both will join the provider from the Elias Sports Bureau.An expert on sports statistics, Steve Hirdt has spent over 35 years as director of information on NFL-focused television program Monday Night Football, on both ABC and ESPN. He also served as executive vice president at the Elias Sports Bureau for over 20 years .Peter Hirdt spent more than four decades at the Elias Sports Bureau, where he was a consultant for ABC Monday Night Baseball and Monday Night Football, as well as CBS Sports’ MLB coverage. He also conceived, designed and managed the Graphics Library, a service now used across MLB, NBA, and NHL telecasts.Read the full story on iGB North America.Image: Rawpixel Stats Perform hands senior roles to Steve and Peter Hirdt Topics: People Sports betting Strategy Subscribe to the iGaming newsletterlast_img read more

German stakeholders give mixed response to new State Treaty

first_img German stakeholders give mixed response to new State Treaty Topics: Legal & compliance Sports betting Legal & compliance AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Tags: Online Gambling News that Germany’s 16 states have seemingly ended years of debate by agreeing on a new, expansive regulatory framework for gambling has been welcomed by the industry, though concerns remain over the restrictions likely to be imposed on operators.The German Sports Betting Association (DSWV) hailed the fact that a consensus had been reached, especially one which will not look to maintain a ban on online casino games. It described the Glücksspielneuregulierungsstaatsvertrags as the “first step towards modern, market-compliant gaming regulation” in Germany.However, president Mathias Dahms added, the restrictive terms set out in the regulations could hurt efforts to channel players towards legal forms of gambling. In particular the association criticised restrictions on live betting, which looks set to be limited to betting on the final result, or next goalscorer.“Relevant live betting markets such as tennis, handball or basketball, as well as popular live betting forms such as over-under betting, could no longer be offered [under the new Treaty],” Dahms explained.“It should not be forgotten that live betting is particularly popular and accounts for around 60% of all bets,” he said. “Disappointed consumers will turn to black market offerings that don’t comply with legal requirements.”The DSWV also called into question the monthly deposit limit of €1,000 (£844/$1,108), which would be applied for each player, across all sites. This would only serve to limit growth, rather than protect players, Dahms warned.He also criticised the decision to stop consumers from accessing their account on one site for five minutes after logging out of another. Dahms said this “completely ignores the reality of life for consumers in the digital age”.Earlier today, Schleswig-Holstein said Germany’s 16 federal states had made a key breakthrough in negotiations over a new Treaty, describing the agreed model as a “really good result” for all jurisdictions. This will see a new federal regulator established, with responsibility for licensing and enforcement in the market.There remains some uncertainty over the exact nature of the controls to be introduced. Some sources suggested to iGamingBusiness.com that the restrictive controls, first published by German tabloid Bild, were likely to be changed. Dahms noted that the draft document is runs to almost 70 pages, and would require “intensive analysis” to determine its full scope.The regulations have won the support of Germany’s powerful state lottery association, the Deutscher Lotto- und Totoblock (DLTB). While the DLTB was previously a vocal opponent of legal online casino, it appears to have shifted its focus to stamp out lottery betting in the market.The current chair of the DLTB, Lotto Rheinland-Pfalz managing director Jürgen Häfner, praised the regulations for preserving the state lottery monopoly, while strengthening efforts to tackle black market activity.“With this future-oriented agreement, the federal states have underlined that the federal system works very well in Germany,” he said. ”The DLTB will participate constructively in further consultations.”Elsewhere, analysts at Regulus have also had their say on the Treaty, singling out measures regarding taxation.At present, gaming in Germany is subject to VAT on a cash basis of 16% because it is not explicitly VAT-exempt. Regulus said states may see this as adequate, but also highlighted how this rate is much lower than that of casinos at 40-80% of gross gaming revenue (GGR) and lottery at 80% of GGR.Regulus said Germany should make gaming VAT exempt and create a specific tax regime for such activities. However, given the other rates currently in place, it is unlikely that this will be below 30%. News that Germany’s 16 states have seemingly ended years of debate by agreeing on a new, expansive regulatory framework for gambling has been welcomed by the industry, though concerns remain over the restrictions likely to be imposed on operators. Regions: Europe Central and Eastern Europe Germany 22nd January 2020 | By contenteditor Email Address Subscribe to the iGaming newsletterlast_img read more

Spinola to take lotteries online amid Covid-19 shut down

first_img Email Address Tags: Online Gambling Lottery Lottery solutions provider Spinola Gaming is offering immediate support to lottery operators looking to mitigate the shut down of retail lottery sales as a result of the novel coronavirus (Covid-19) pandemic by powering the rapid launch of digital offerings. Lottery solutions provider Spinola Gaming is offering immediate support to lottery operators looking to mitigate the shut down of retail lottery sales as a result of the novel coronavirus (Covid-19) pandemic by powering the rapid launch of digital offerings.Governments around the world have introduced measures to slow the spread of the virus, with country-wide lockdowns temporarily closing gambling venues and outlets selling lottery products. This has already prompted Spain’s Sociedad Estatal Loterías y Apuestas del Estado (SELAE) to suspend ticket sales and lottery draws from 16 March.Spinola said it can support operators affected by the measures by helping them to set up an online platform, that can both players engaged by offering high value jackpots.“These unprecedented times have highlighted how fragile certain business models can be, as more and more countries enforce lockdowns making traditional physical lottery ticket purchase no longer an option for players,” Spinola chief executive Ade Repcenko explained.“The need for national lottery operators to make the shift and be available online in order to continue to reach their players is imperative.“We are offering a way to quickly convert to an online operation, in order to keep players engaged and to continue to provide draws to their players, and most importantly continue to support the good causes that land-based charity lotteries contribute towards.”Spinola also said it can work with existing online operators in the casino and sportsbook sectors to introduce new games and help keep players engaged during the shutdown of sports events around the world. Football’s English Premier League and the UEFA European Championship are among the major events to have been affected by Covid-19.“We are ready and able to provide a quick and reliable solution that can immediately address the current unfortunate situation facing many in the industry,” Repcenko said.The pledge comes after Spinola this week also announced a new initiative to help governments, state-run operators and public/private partnerships (PPP) across emerging markets to launch their lotteries online.Spinola said that it would seek out partnerships with businesses in Latin America, Asia, Africa and the South Pacific that have traditionally operated in a paper environment. Topics: Lottery Tech & innovationcenter_img 19th March 2020 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Spinola to take lotteries online amid Covid-19 shut downlast_img read more

Navigating a storm of uncertainty

first_img29th April 2020 | By contenteditor Operators and suppliers face a massive challenge in preparing for the opening of Germany’s regulated betting and gaming market from July 2021. However those that invest wisely in this preparation stand to gain the most from the long-awaited opening, writes Greentube chief executive Thomas Graf.When Germany’s 16 states finally moved to unify the country’s fragmented and arguably ambiguous online casino laws, many were quick to assume that the market would present a gold rush.Looking at the fine print, however, the prospects are less hopeful. Included in the regulations are restrictions around maximum stakes, set at €1 per spin. Average spin durations are set at five seconds. Major jackpots are banned outright.All these measures present suppliers with the huge challenge of completely re-wiring games to meet the market’s unique requirements. The viability of the market has been thrown into further doubt by recent upheaval around licensing, adding yet more uncertainty to preparatory efforts.Yet, Germany’s online sector still promises incredible opportunity, and to make a strong start when it opens for business in July 2021, the industry has to put in the groundwork.When defining strategies to enter a new market, conducting thorough analysis and building deep understanding of the laws and regulations, both from a B2B and B2C perspective, is the number one priority.In Germany’s case, however, where the lack of an active regulatory body at this stage can make it difficult to clarify how restrictions should be interpreted, the challenges are amplified.Compliance concerns Given that the limits on stake value and spin time are different to any other market, ensuring content is compliant with laws requires suppliers to either redevelop existing games or create new titles that are specific to the requirements. With the €1 stake limit excluding high rollers from the market, and the five second average spin time adding further challenges to game development, suppliers have to think creatively to find solutions that ensure their offering is as attractive as possible within the regulatory confinements. We are working closely with Novomatic to make the necessary adjustments to our portfolios, leveraging our vast land-based experience in the European AWP market where bet limits, price limits, hour/loss limitations are common.For B2C operations, however, the road is simpler. There are parallels with the UK too, where we act as a technology partner to help land-based teams establish an online brand. Yet, ongoing uncertainty over licensing and “cross-vertical” restrictions have triggered pain points, presenting difficulties around cross-conversion and the status of existing online casinos.The issue of a potential progressive taxation also poses many questions currently, as no one knows where they will land on the scale. For land-based businesses, this can go as high as 90 percent – a level which if replicated in the online sector will prove even more testing considering the added complication of legal businesses versus the unregulated market.Shuffling the pack Despite the regulatory challenges, however, as Europe’s second biggest market, Germany presents big potential in terms of player volumes and revenue. Experience in the UK and Switzerland tells us that interactive versions of popular retail titles will immediately rank well in the online environment, particularly classic slots such as Book of Ra and traditional Fruit Games.In land-based venues, local players typically take comfort in familiarity with machines and their content. Titles which are already known and preferred in arcades and on casino floors are therefore expected to resonate well with new online audiences, building an inherent level of trust in the companies that provide them.The online uptake will largely depend on the attractiveness of the games from a player’s perspective after all of the regulations have been implemented. The German market is at present very diverse in terms of content – the issue is that it is not currently regulated.Enactment of the new legal framework will mean a re-shuffling in the market, as the currently unregulated offerings will also need to be recreated in order to comply. The interesting question is whether the “legal” offering that will come as a result of the new regulation will be restricted due to licensing issues. There is a strong chance that some will not be able to afford to continue supplying the market as a result of the high costs, entrance barriers, taxes and research and development requirements.The prediction is that only a few of the larger companies will survive the market shift, but that leaves the future of the current illegal market and its offerings uncertain. Diversification, therefore, will likely come with players now being able to play land-based titles online.Covid clarification With land-based casinos, arcades and betting venues currently closed down as a result of the novel coronavirus (Covid-19) outbreak, online gaming is already seeing an uplift in Europe and in markets across the globe. However, as political conversations centre on responsible gaming, it is important to make the distinction between the types of players that are behind this recent spike.Customers who would normally engage with sports betting and land-based casinos or arcades are shifting to online substitutes, triggering a greater influx of new online players who have migrated towards slots or poker.The incremental revenues are, therefore, primarily derived from new, first-time players rather than existing players increasing their spend during the lockdown – and the behaviour of the former is quite conservative. These customers demonstrated a hesitancy to dip their toes in this new way of gaming and it is taking time to build their trust.The main question is whether the sudden increase in player volumes will be maintainable or not, and the standing of the industry’s main players after this “Covid-only effect”. We believe that retail numbers will not return to the same level as before the outbreak until sometime in 2021, as players trialling online offerings during this period will be converted for the long-term.Given that it is not clear how fast the land-based segment will reopen again – and to what extent – we are also not yet able to gauge how players will feel about returning to the land-based venues. Online, therefore will still offer a convenient alternative.In that regard, land-based operators and suppliers can also see this period as an opportunity to develop, strengthen and expand the online offering in their ecosystem. The importance of a strong online product has been brought sharply into focus in the wake of the pandemic, and cross-promotion between online and land-based, within the parameters of responsible gaming, has served as a lifeline for many brick and mortar operators.Strong SEO is another important factor to help grow online during this time and help people find the content both on the social and real-money gaming platforms.Hopefully, by the time the Germany’s regulated online sector goes live next year, the industry and the world will have returned to normality and the lingering uncertainties around the legislation resolved.Now is the time for the industry to ramp-up preparations and ensure that their offering is both compliant with the market’s tough restrictions, whilst also offering the best possible experience to new online audiences. Germany’s strong land-based heritage will no doubt help to bring loyal players online, and we expect great things from the promising sector.Greentube’s chief operating officer Georg Gubo will be discussing the Germany’s online gaming market, and its long road to regulation alongside leading gambling lawyers Wulf Hambach of Hambach & Hambach, and Rolf Karpenstein of Blume Ritscher Nguyen Rega in next week’s iGB webinar, Germany and its new regulatory regime – market opening or market closing? To find out more about this session, and to register to attend, click here. Navigating a storm of uncertainty Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Operators and suppliers face a massive challenge in preparing for the opening of Germany’s regulated betting and gaming market from July 2021. However those that invest wisely in this preparation stand to gain the most from the long-awaited opening, writes Greentube chief executive Thomas Graf. Topics: Casino & games Legal & compliance Sports betting Subscribe to the iGaming newsletter Casino & games Tags: Mobile Online Gambling Regions: Europe Central and Eastern Europe Germanylast_img read more

Soft2Bet launches CampoBet brand in Sweden

first_img Casino and sportsbook operator group, Soft2Bet, has announced the launch of its CampoBet brand into the Swedish igaming market.Soft2Bet made its first launch into Sweden with the Yoyo Casino brand in March this year, after securing a licence from local regulator Spelinspektionen in December 2019. Commenting on its second launch into the jurisdiction, Soft2Bet CEO Boris Chaikin said: “We are thrilled to go live with the ever-popular CampoBet in Sweden, following on from our widely celebrated debut in the territory earlier this year.“Our 17-strong portfolio of cutting-edge casino and sportsbook brands appeals to an impressive range of audiences, and we look forward to further extending its reach across the globe.”Soft2Bet recently launched the same brands, Yoyo Casino and CampoBet, in Brazil. As well as its Swedish license, the company holds licenses from the Malta Gaming Authority and Curaçao eGaming.After securing its Swedish licence in March, chief operating officer Uri Poliavich explained: “Expanding our customer base is of the utmost importance at Soft2Bet.” AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Tags: Mobile Online Gambling Casino and sportsbook operator group, Soft2Bet, has announced the launch of its CampoBet brand into the Swedish igaming market. Email Address Casino & games Regions: Europe Nordics Sweden Topics: Casino & games Sports betting Subscribe to the iGaming newsletter 22nd July 2020 | By Conor Mulheir Soft2Bet launches CampoBet brand in Swedenlast_img read more

SG hails “better than expected” Q2 despite revenue decline

first_img Scientific Games’ losses increased in Q2 as revenue fell 37.2% to $539m (£423m/€465m), but the business said its results were “better than expected” given the outbreak of the novel coronavirus (Covid-19). Casino & games SG hails “better than expected” Q2 despite revenue decline 24th July 2020 | By Daniel O’Boyle Scientific Games’ losses increased in Q2 as revenue fell 37.2% to $539m, but the business said its results were “better than expected” given the outbreak of the novel coronavirus (Covid-19).Services made up the majority of revenue, but revenue from this vertical still fell 29.5% to $322m. Instant products were the most stable vertical under the effects of Covid-19, declining only 11.3% to $133m, while product sales collapsed by 64.7% to $84m.Breaking revenue down by business segment, land-based casino division SG Gaming was hardest-hit by the virus, with revenue falling 79% to $91m.Revenue from Scientific Games’ lottery division also declined, but by just 10% to $209m. Read more on iGB North America AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Tags: Online Gambling Regions: US Topics: Casino & games Finance Lottery Sports betting Social gaming Email Addresslast_img read more

Spelinspektionen: Casino deposit cap impossible to enforce

first_img Subscribe to the iGaming newsletter Legal & compliance Topics: Legal & compliance People Tags: Mobile Online Gambling Sweden’s Gaming Inspectorate (Spelinspektionen) has had its say on the prospect of central register to enforce deposit limits across all licensees, after admitting there was nothing to stop players spending beyond the SEK5,000 online casino deposit cap. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Spelinspektionen: Casino deposit cap impossible to enforce Regions: Europe Nordics Sweden 19th August 2020 | By contenteditor Sweden’s Gaming Inspectorate (Spelinspektionen) has had its say on the prospect of central register to enforce deposit limits across all licensees, after admitting there was nothing to stop players spending beyond the SEK5,000 (£474/€484/$577) online casino deposit cap.In its final update on the regulated gaming market’s performance during the novel coronavirus (Covid-19) pandemic, Spelinspektionen revealed that online betting and gaming revenue rose 5% year-on-year in June to SEK1.17bn.Svenska Spel’s lottery and gaming machine revenue was up 11% to SEK428m, while restaurant casinos’ contribution declined to SEK10m. With Svenska Spel’s land-based Casino Cosmopol venues closed throughout the month, they did not make any contribution to revenue.On the subject of the temporary SEK5,000 weekly spending cap for online casino, Spelinspektionen said that current limits for deposits, losses and login time only apply per licensee.This means that a player with multiple accounts with different licensees can therefore “easily” gamble more than the SEK5,000 temporary cap for online casino spend that came into force from 2 July.This prompted the Swedish Equality Commission (Jämlikhetskommissionen) to propose a central register, to give operators and Spelinspektionen visibility over how much a player has deposited across all gaming accounts.While Spelinspektionen did not explicitly come out against the measure, it highlighted a number of serious issues with the proposal. It said the measure would combine a lot of sensitive personal data from players, as well as confidential business information from licensees.The centralised register would effectively entail a public body closely monitoring individuals’ online activity, something that it noted could be seen as contravening internet freedom.Any concrete proposal would have to comply not only with Swedish law, but also the European Convention on the Protection of Human Rights and European Union law, Spelinspektionen added.Furthermore, the regulator continued, unlike Sweden’s self-exclusion system Spelpaus, registration would be mandatory, rather than voluntary.A source close to the matter said that Spelinspektionen was unable to dismiss the measure out of hand, as that was the government’s role to determine whether it was ultimately feasible. Instead, they said, the regulator used the report to highlight the serious issues that would arise from the project.The report also looked at the regulator’s efforts to crack down on illegal gambling. This has seen it issue injunctions against 23 providers, through which it hopes to shut down “hundreds” of unlicensed igaming websites.However, Spelinspektionen added, it had run into difficulties trying to enforce payment blocking measures, with some financial institutions refusing to provide confidential information about their customers. As a result it will look to have a special provision inserted in the country’s Gaming Act, which would compel banks to hand over information if it is to be used to shut down illegal operations.To strengthen these efforts further, Spelinspektionen is negotiating a memorandum of understanding with the Netherlands gambling regulator Kansspelautoreit, and has begun a dialogue with the Curaçao Gaming Control Board over one of its licensees targeting Swedish customers. Email Addresslast_img read more

Genius Sports Group acquires scoreboard data supplier Sportzcast

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Sports betting Strategy Product & technology Sportsbook M&A Regions: US Sports data provider Genius Sports Group has agreed to acquire Sportzcast, a US sports data distribution system manufacturer. 14th December 2020 | By Daniel O’Boyle Genius Sports Group acquires scoreboard data supplier Sportzcast Subscribe to the iGaming newsletter Email Addresscenter_img Read the full story on iGB North America Sportzcast produced Scorebot, a program that delivers sports data to scoreboards within venues, which  has been installed in more than 6,000 venues worldwide, across 194 scoreboard systems. “Genius is the ideal partner to accelerate our innovation and supercharge Sportzcast’s global growth through its strong distribution network,” Sportzcast President Michael Connell said. More than 400 US colleges and universities also use Scorebot for their scoreboards, Genius added. Tags: Genius Sports Group Betgenius Sportzcast DMY technology Group M&Alast_img read more

Scientific Games acquires BetBuilder pioneer SportCast

first_img Scientific Games has announced the acquisition of player engagement technology supplier SportCast, developer of the first BetBuilder product. Topics: Sports betting Strategy Tech & innovation Product & technology M&A Email Address Subscribe to the iGaming newsletter 26th May 2021 | By Daniel O’Boyle Scientific Games acquires BetBuilder pioneer SportCast “The award-winning BetBuilder product is just the first of many innovative products that can be powered by the underlying platform for the benefit of our customers and we’re thrilled to be able to roll these out.” Tags: Scientific Games BetBuilder ScoreCastcenter_img AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter SportCast offers various engagement tools, but has become best known for BetBuilder, which allows for players to bet on multiple markets within the same game, created in 2017. Scientific Games has noted that single-game multiples have grown rapidly across North America as legal betting has spread across the country. M&A Regions: US “For sports fans, the ability to define the story of the game, bet on it and watch it live has become a thrilling way to engage in the action,” Keith O’Loughlin, executive vice president for Sports at Scientific Games, said. “SportCast’s technology and platforms will help us fuel the next wave of our data-driven, global sports expansion. Read the full story on iGB North Americalast_img read more