News

New Jersey sports betting hits $500 million

The rise and rise of sports betting in New Jersey continued throughout October with the total handle (overall betting turnover) rising rapidly by greater than 40% month-on-month just more than $260 million.

Betting was formally legalised in the state in mid-June and since then more than $500 million has now been wagered in total in that time alone.  The full total is $597.4 million with the figures escalating quickly; August was the first month of allowed gambling which saw a handle of $96 million followed by $184 million in September and $317 million in October.

Online betting grew by as much as 67% to over $174 million with on-track betting figured at $86 million.  The market has not settled as yet however as sports betting revenue halved in the month to only $11.7 million versus $24 million in September.

Almost $9 million of the revenue was gained via digital forms with $5 million of that amount at Resorts Casino, home to DraftKings and BetStars. FanDuel, which saw its revenue halve to just $3.5 million at its Meadowlands Racetrack, said that in actual fact it was pleased with growth but suggested cuts were due to a good round for favourites in the NFL.

FanDuel in particular are said to be pleased with October with demand for their sportsbook continuing to outpace the firm’s expectations.

Total gaming revenue for October was $239 million compared to $206 million at the same time last year – an increase of 16% as the state looks to slake its thirst for gambling.  Year-to-date the industry total gaming revenue was more than $2.4 billion compared with $2.2 billion in 2017 – a solid increase of 6%.

America has long been hoping for betting to be legalised with the majority of people finding no moral problems with it – New Jersey is showing the way.

Gary Christie

Having been immersed in the worlds of sports betting and writing for the past 20 years, Gary Christie has vast experience on the subjects.  He has produced content for various leading websites, including both TVG and Mr Green Casino. Contact Gary at garychristie@wagered.com.

News

Legal challenge in £1 million Bet365 case to be heard

A Bet365 punter who had her near £1 million win refused will have her legal challenge heard – but not until 2019.

Megan McCann, aged 18 at the time, placed an each-way Lucky 15 combining 12 horses from races at Bath, Kempton and Naas.  The Northern Irish-based backer staked £24,960 to win £984,833 and was successful however Bet365 refused to pay her out after alleging that she had placed the bet for a third party and was therefore in breach of their betting rules.

After a wait of over 16 months the High Court in Belfast on Tuesday presided over a five-minute hearing during which it was agreed with lawyers representing both sides that a revised statement of claim would be submitted by McCann’s representatives.

After the claim has been considered by the defendants another hearing will be needed, to take place December 14th with a view to confirming an agreement over the amended statement.

Bet365 had hoped on Tuesday to have part of McCann’s claim struck out on the grounds of ‘unconscionable practices’ but that issue was not dealt with.  ‘Unconscionable practices’ in this case means that McCann believes the bookmaker’s claim that she was in breach of terms is incorrect under basic consumer rights legislation, something denied by Bet365.

Although from a personal point of view McCann is looking to claim her near-£1 million pay out, as we all would, this legal procedure could have wider consequences within the industry.  It will place under scrutiny bookmakers being able to declare bets void if placed on behalf of a third party and in some cases, including this one, it allows them to keep the stake money as well as any winnings.

To drastically simplify things; punters of all levels are sick to death of bookmakers happily accepting a bet over the counter or on an online system THEY have implemented before then refusing to pay out on a winner.

Gary Christie

Having been immersed in the worlds of sports betting and writing for the past 20 years, Gary Christie has vast experience on the subjects.  He has produced content for various leading websites, including both TVG and Mr Green Casino. Contact Gary at garychristie@wagered.com.

News

Carey defends Formula One betting sponsorship deal

Formula 1 supremo Chase Carey has come out in defence of the sport’s contentious link-up with the betting industry, informing followers that it will be done in a “healthy way”.

Back in September Formula 1 announced its deal with the Interregional Sports Group, a partnership that would see new ways of betting on the sport using live data become a reality with ISG gaining the rights to sub-license betting partnerships to worldwide brands as part of the deal.

The deal gave birth to multiple criticisms of F1 for jumping into bet with the betting industry at a time when sports betting has come under the microscope more often because of supposed links with health and wellbeing, though yet again these links fail to take into account that most of the horrors of gambling addiction come from betting on games one has no control over, such as bingo, casino games and slots.

Carey has come out publicly to defend this sponsorship deal, saying he is aware that regarding betting the sports has responsibilities and that the F1 deal will be done in a healthy way with proper integrity tools around it.

The executive chairman went on to say that he believes fans enjoy betting on the sport, that they enjoy it, it makes it more interesting and more exciting and that is certainly true.  We must also remember that this sort of deal allows fans to bet on a sport they have knowledge of which is happening right in front of them, rather than relying on randomly generated numbers as they do for example in an online casino where most of the damage is done.

Carey has drawn comparisons to fantasy football, something said to enhance the enjoyment of NFL games and says that this is a fun form of betting.  For now though at least, the move will continue to attract its detractors.

Gary Christie

Having been immersed in the worlds of sports betting and writing for the past 20 years, Gary Christie has vast experience on the subjects.  He has produced content for various leading websites, including both TVG and Mr Green Casino. Contact Gary at garychristie@wagered.com.

Finance

Betway boost Irish racing presence

Bookmaker and online casino operator Betway has extended its reach in the world of Irish racing by linking up with Punchestown Racecourse to sponsor one of its high profile races.

Betway will be the new sponsors of the Grade 2 Betway Craddockstown Novice Steeplechase, the feature race on the first day of the 2018 Punchestown Winter Festival, which runs on the weekend of Saturday November 17 and Sunday November 18.

The race is one of the most important two mile chases around. With a first prize of €44,500, it has produced a string of high class winners including Sizing John, Moscow Flyer and Limestone Lad.

In recent years, the race has been dominated by Waterford-based trainer Henry de Bromhead, who has won it four times in nine years, including his 2016 success with Identity Thief.

Second phase

Betway took their first steps into Irish racing sponsorship when they got involved with the Galway Festival earlier this year, and this latest move is an attempt to earn recognition at the top level of Irish jumps racing with one of its most important races. Speaking about the sponsorship, Alan Alger of Betway said that the deal represented the next stage of their relationship with the sport in Ireland:

The Galway Festival was excellent and we’re now very much looking forward to our second phase of sponsorship in Irish racing.”

Betway joins a number of other bookmakers involved in Irish racing. In 2017, it has been estimated that betting companies contributed around 16 percent of the total prize money, and Punchestown is regarded as the pinnacle of Irish jumps racing, where betting companies already sponsor the course’s main races, the Champion Chase, Champion Hurdle, Stayers Hurdle, and Gold Cup.

Andie Hughes

Andie Hughes is a UK-based freelance betting and gambling writer with over a decade of experience in the industry, having written for Betfair, ESPN, Boylesports, Sporting Life and various other popular betting sites. Contact Andie at andiehughes73@gmail.com.

Finance

Sports gambling to provide windfall for sports leagues

As the USA continues to legalise sports betting across numerous states, professional sports leagues appear to also be changing their opinion on the matter.

Initially those leagues poured scorn on the idea of opening up their sports to gambling without what was described as an “integrity fee” but now they have found other ways to make betting on their products just as much of a money-spinner.

The National Basketball Association (NBA), National Football League (NFL) and the Champions League have already started making sponsorship deals that make them huge amounts of cash.  Meanwhile the National Hockey League (NHL) has already been in the vanguard when it comes to such deal-making.

The NHL has shown the way after signing up for several gambling-related companies.  Casinos, fantasy sports leagues and sportsbooks are all in league with the NHL as official partners meaning they are pumping money back into a league that provides them with revenue via betting.

The NHL are doing the right thing in seeing things very simply; if teams profit from sponsorship deals, then everyone will profit.  America has been losing billions of dollars in tax revenue and sponsorship having kept sports betting illegal as patrons in most states have not held back on their penchant for having a bet.

Those bets therefore have been placed “under the counter” or via websites based overseas and that means lost tax revenue and no opportunity for the leagues to cash-in legally.

The NHL’s revenue increase is expected to be up to $216 million which can lead to more profits for the league and higher salaries for those working and playing within it.

Sports betting is here to stay in the States and it seems its high time the NBA and the NFL jumped on the bandwagon before too much more is lost.

Gary Christie

Having been immersed in the worlds of sports betting and writing for the past 20 years, Gary Christie has vast experience on the subjects.  He has produced content for various leading websites, including both TVG and Mr Green Casino. Contact Gary at garychristie@wagered.com.

News

Bet Victor increases snooker sponsorship

BetVictor has continued to increase its profile within the sport of snooker, having secured the rights to sponsor two more UK events; the Northern Ireland Open and the Scottish Open, which are both part of the Home Nations series. 

Earlier this year, the Gibraltar-based bookmaker sponsored the English Open for the first time and following the success of that deal, they will be expanding their links with the sport, starting with sponsorship of the Northern Ireland Open, which is held between November 12 and November 18 at the Belfast Waterfront Hall. The Scottish Open, hosted by the Glasgow Emirates Arena will be staged between December 10 and December 16.

Speaking about the new sponsorship deal, the Director of Sportsbook at BetVictor, Matt Scarrott, said that the move would enable BetVictor to tap into the global fanbase of snooker, giving them the opportunity to reach an international audience in what is a growing sport.

Both of the Home Nations tournaments will be available to snooker fans on Eurosport’s channels and additional coverage will be provided by Quest TV. There will be 128 players taking part in the two competitions, including big name stars such as John Higgins, Ronnie O’Sullivan, Mark Selby and Judd Trump, with a prize of £70,000 on offer.

Commenting on the link with BetVictor, the Chairman of World Snooker, Barry Hearn, said that he was delighted to be joining with the bookmaker and expressed his gratitude for their support, which has previously included sponsorship of the Welsh Open between 2013 and 2017.

The Home Nations series is a relatively new addition to the snooker schedule, but has proven popular with snooker fans and both the Belfast and Glasgow events are expected to attract plenty of support.

Andie Hughes

Andie Hughes is a UK-based freelance betting and gambling writer with over a decade of experience in the industry, having written for Betfair, ESPN, Boylesports, Sporting Life and various other popular betting sites. Contact Andie at andiehughes73@gmail.com.

Finance

Betting boost for US sports

US sport could be about to enter an era of growth, thanks to increased sponsorship and higher value media rights resulting from the newly legal sports betting market, according to a new report.

The research was conducted by Pricewaterhousecoopers and concludes that increased revenue will be derived from a range of factors including directly through gambling, and indirectly through uniform rights, in-venue signage and naming rights.

According to the report, the total value of US sports betting will rise to $80.3 billion by 2022, while at the same time, the sponsorship value and media rights value of the main US leagues will also grow significantly. Media rights in particular is set to remain the biggest asset for US sports, with an annual growth forecast of 4.5 percent, which is larger than any other factor.

Fan engagement

The evidence gathered by Pricewaterhousecoopers indicated that the liberalisation of sports betting in the US as a result of the May 2018 Supreme Court decision, will result in growing levels of fan engagement of up to 13.4%, with the NFL in particular set to benefit. The report suggests that sports betting could benefit the NFL by as much as $2.326 billion.

In September, the NFL eased its long-standing policies on casino advertising and now permits sponsorship and advertising from casinos that provide sports betting. There are still restrictions in place, which prevent casinos that run sportsbooks from mentioning the sportsbook in their NFL advertising, and revenue sharing between sportsbooks and teams is not permitted.

But the new rules do establish the principle of accepting new sources of revenue from sports betting companies, and this is likely to be the beginning of a trend as US leagues develop their understanding of the revenue opportunities that are available.

Andie Hughes

Andie Hughes is a UK-based freelance betting and gambling writer with over a decade of experience in the industry, having written for Betfair, ESPN, Boylesports, Sporting Life and various other popular betting sites. Contact Andie at andiehughes73@gmail.com.

News

Off track gambling comes to Norco

The equestrian-themed Californian city of Norco could soon see the opening of an off-track horse racing venue at a renovated restaurant.

According to reports in the local media, the Lake Elsinore-based group California Horse Racing and Sports has yet to obtain a state license, but has already gained city approvals, and renovations at the former Cowboy Joe’s restaurant slated to be the site of the new facility are nearly complete.

The California Horse Racing Board have said that the earliest that the group’s application could be considered is December 13, but if the state board issued a license at that point, the new facility, named the Derby Room could be ready for business a few days later.

Speaking about the potential for off-track betting in Norco, councilman Berwin Hanna, who has been at the forefront of efforts to bring such a venue to the city, said it would suit the location:

We’re Horsetown USA, so we might as well have it. It kind of fits our brand.”

Californian state law currently permits up to 45 off-track horse racing betting venues, with 15 allowed in each of the north, south and central regions. If the Norco facility gets the go-ahead, it will be the twelfth in the state.

Sports bar and restaurant

The renovation of the Derby Room is likely to cost around $500,000, and it is envisaged as more than a venue where people can bet on races at Santa Anita and Los Alamitos. The facility has been designed to be a sports bar and restaurant, with the gambling aspect an attraction to bring people into the restaurant, which is where the majority of the revenue is expected.

The Derby Room will feature 44 televisions, covering a wide range of sports, although initially only betting on US horse racing will be permitted. That could change, however, as a sports betting measure may appear on the ballot in Californian elections in 2020.

Andie Hughes

Andie Hughes is a UK-based freelance betting and gambling writer with over a decade of experience in the industry, having written for Betfair, ESPN, Boylesports, Sporting Life and various other popular betting sites. Contact Andie at andiehughes73@gmail.com.

Casino

Churchill Downs Aiming For Online Success

The operators of the famous Churchill Downs racetrack in Kentucky have brought forward the launch date for their online New Jersey betting operation.

Churchill Downs Incorporated announced that it would be launching its mobile casino and sports betting operation in New Jersey in the fourth quarter of 2018, after initially predicting a start date in the first quarter of 2019. At the same time, the company has also acquired a majority stake in the Illinois Rivers Casino Des Plaines, as it aims to take advantage of online opportunities. 

The change in plans was announced as part of the company’s third quarter report. According to the CEO of Churchill Downs, Bill Carstanjen, they were still waiting to be granted a licence to offer online gambling in New Jersey, where they will be operating through a deal with Atlantic City’s successful online casino platform, the Golden Nugget.

Increase in revenue

Churchill Downs was able to record a 12 percent revenue increase during the third quarter of 2018, despite a decline in their proceeds from racing, thanks to a rise in casino gaming income. Overall revenue during the quarter was $221.3m, with $105m of that total coming from casino gambling.

As well as preparing for its launch in New Jersey, Churchill Downs is also making an entry into the New York and Colorado markets, following a deal struck with Saratoga Casino Holdings and has already started taking bets in the state of Mississippi via sportsbooks at two casinos.

The purchase of a 50.1 percent stake in the Rivers Des Plaines, which will continue to be operated by Rush Street Gaming, establishes a Churchill Downs presence in Illinois and the company is also believed to be targeting a launch in Pennsylvania, as they aim to increase their share of the rapidly growing sports betting market in the US.

Andie Hughes

Andie Hughes is a UK-based freelance betting and gambling writer with over a decade of experience in the industry, having written for Betfair, ESPN, Boylesports, Sporting Life and various other popular betting sites. Contact Andie at andiehughes73@gmail.com.

News

SIS extend Latin American reach

Betting broadcast company SIS and Tote Media have announced a new extension to the current deal that enables them to distribute live footage and racing data from all Latin American Racing Channel’s (LARC) racecourses to betting operators around the world.

The existing deal has been increased with a two-year rights extension that will expand SIS’s Latin American reach to more than 4,500 races each year, including events based in Chile, Argentina, Brazil, and Peru. The coverage features many of South America’s most famous racecourses, including the Hipódromo Chile, Club Hipico Santiago, Hipodromo de Valparaiso, Hipodromo Concepcion, San Isidro, Monterrico and Gavea.

This latest deal will also complement SIS’s recent agreement struck with the Kranji Racecourse of Singapore, adding depth to the company’s existing portfolio of top-rated international horse racing that already includes the UK, Ireland, Dubai, Mauritius, Australia, and South Korea.

A race every three minutes


All of the South American races offered by SIS will be available as part of the SIS 24/7 Live Betting Channels, which cover racing on a 24/7 basis, providing footage for retail and online customers, aiming to give racing fans a chance to bet on a race every three minutes.

Speaking about the deal, the Head of International Racing at the company, Simon Fraser, said that the arrangement would enable them to expand their reach:

We are very pleased to have extended our deal with LARC. This deal enables us to deliver an increased number of races from South America to our bookmaker partners globally.”

The deal also enables LARC to boost coverage of Latin American racing around the world, enabling it to compete with the higher profile racing industries in Europe and Asia.

Andie Hughes

Andie Hughes is a UK-based freelance betting and gambling writer with over a decade of experience in the industry, having written for Betfair, ESPN, Boylesports, Sporting Life and various other popular betting sites. Contact Andie at andiehughes73@gmail.com.

Add your widget here