Gambling News’ Post

Online sports betting is now legal in the state of Vermont and here is your handy guide to all the key points...   - The regulated online sports betting market opened at midnight on January 11th.   - It’s expected to generate $7 million in new revenue in year one, rising to over $15 million as the market matures.   - Online sports betting services will be provided in the first instance by FanDuel, DraftKings Inc. and Fanatics.   - The legislation was signed into law (House Bill 127) by Governor Phil Scott in June 2023.   - Vermont is now one of nearly 40 states with legal online sports betting.   -  It’s the first market to open in North America in 2024, with North Carolina expected to launch in the next few months.   - Licensed operators will pay tax at rate of 20% of adjusted GGR.   - To place a bet, you must be at least 21 years old and inside state lines.   - It’s legal to bet on professional leagues (NBA, NHL, MLB, NFL etc.) and collegiate sports, but betting on college games is only permitted if they are part of a tournament.   - It remains illegal to bet on sports in-person, as the state lacks the physical infrastructure to manage sports betting shops.   - Online sports betting in the state is overseen by the Vermont Department of Liquor and Lottery.   - Vermont’s nickname is the Green Mountain State.

The recent launch of online sports betting in North Carolina is proving to be a success. Statistics from the Tar Heel State show that almost $200 million has been wagered in the week following the launch. The preliminary online betting figures were disclosed by the North Carolina State Lottery Commission, which said that NC bettors wagered $23.9 million on March 11 when the market went live and $198.1 million in the first week of legal online betting. For reference, $12.4 million of the launch date wagers were promotional bets, seeking to attract new customers. According to the North Carolina State Lottery Commission, players won back a whopping $12.2 million in the first 12 hours of NC online wagering. In the meantime, players won back $141.6 million in the first week of betting. This figure resulted in a total statewide GGR of $42.7 million, the commission added. Read the full article ➡ https://lnkd.in/dx5UwujN #finance #sports #sportsbetting #gambling #gamblingnews #northcarolina

🎉 Online Sports Betting is Now Live in Vermont! 🎉 Are you ready for a whole new world of sports betting? Vermont just became the 39th state to legalize online sports wagering, and we've got all the details you need! 🌟 🔹 Dive into the world of Fanatics, DraftKings Inc. and FanDuel - the first operators making waves in Vermont's sports betting scene. 🔹 Discover betting markets from National Football League (NFL) to niche sports like Drone Racing League. 🔹 Learn about Vermont's commitment to responsible gaming and how it impacts you. With the NFL Super Bowl LVIII around the corner, don't miss out on placing your bets within Vermont's borders. 💰 👉 Check out our latest article for a comprehensive guide on Vermont's online sports betting landscape: https://lnkd.in/d5zM7VG7 #Vermont #Sportsbook #Betting #OnlineSportsBetting #VermontSportsBetting

💸 Tennessee Sports Betting Handle Holds Steady In May 📊 ☀ Summer has arrived, and Tennessee sports bettors are showing no signs of slowing down. In fact, May has been a standout month in the sports betting calendar, featuring major events like the Kentucky Derby, Miami Grand Prix, the PGA Championship, Indianapolis 500, and the start of the 2024 WNBA season. 🏀 With the 2024 NBA playoffs also now in full swing, it comes as no surprise to find that the Tennessee sports betting handle for May has held strong. 🤑 The Tennessee Sports Wagering Advisory Council (SWAC) revealed that the Volunteer State accepted $381.8 million in wagers last month, closely matching April 2024’s sports betting handle of $384.2 million. 💰 Plus, Tennessee sportsbook deductions dropped to $2.5 million in May, compared to $3.3 million in April, ultimately helping the Volunteer State to maintain an almost identical tax bill. Last month, TN betting operators paid around $7 million in taxes. 📈 While other US states like North Carolina, Maryland, and Iowa saw a decrease in sports betting activity in May compared to April, Tennessee’s stable handle is positive news for both sportsbook and state revenue. North Carolina: The Tar Heel State reported a total sports betting handle of $525.5 million, marking the second full month of sports wagering in North Carolina. This figure is 19% lower than April’s handle of $648.9 million, which was the first full month of legal sports betting after operators launched on March 11. Maryland: Data provided by Maryland Lottery and Gaming revealed that the state recorded a total sports betting handle of $431.5 million this May, showcasing a 11.3% decrease from April’s $486.3 million figure. Despite the monthly drop, last month’s handle is still a 34.8% increase compared to figures from this time last year. Iowa: The Iowa Racing Commission reported a sports betting handle of $182.5 million in May, a 12.9% drop from April’s $209.5 million. However, this still represents a 23.6% year-on-year increase of 23.6% compared to figures from May 2023. IA sports bettors spent $169.5 million online and $13 million at retail sportsbooks. Click the link to read more about sports betting in Tennessee: https://lnkd.in/d3hCNM9E

New York's Online Sports Betting Hits Record $19.64 Billion In the 2023 financial year, New York set a record in the US for online sports betting with players wagering $19.64 billion, a 19.8% increase from the previous year. Revenue also surged to $1.76 billion, marking a 20.6% rise year-on-year, as New Yorkers embraced the state’s second full year of regulated online sports betting. FanDuel led the market, commanding the largest share with $8.10 billion in bets, followed by DraftKings and Caesars. https://lnkd.in/e_44aFqM #excellence #excellenceinbusiness #performancemarketing #programmaticmarketing #digitalentertainment #sportsbetting #gambling #onlinebetting

Mixed results across U.S. sports betting markets!   💰 Kentucky’s online sports betting handle fell to $125.4M in July, its lowest since launch, while FanDuel led in revenue for the 4th consecutive month.   📊 Maryland shines with a 43.1% YoY increase in handle, reaching $377.4M. Live! Casino & Hotel tops mobile betting with $160.7M in wagers.   🏆 Meanwhile, DraftKings Inc. continued to dominate in Maine, securing 84.6% of the state's total wagers.

📈Mississippi's Sports Betting Boom: Unveiling the Surging Success in Wagering Activity📈 Mississippi’s sports betting revenue saw a year-on-year increase, despite a reported decline in the total amount wagered, or the ‘handle’. The monthly revenue reached $6.7m, marking a 31.4 percent increase from $5.1million in January 2023 and a 36.7 percent rise from $4.9 million in December 2023. 📰 Read the full article here:https://hubs.la/Q02m3s3x0 #Mississippi #sports betting #wagering #revenue #handle #gambling #betting #success

📈 #NewYork's online sports betting revenue hit a record high of $188.3 million in December, marking a 13.2% increase from October. The state's nine online sportsbooks generated a total handle of $2.04 billion, with FanDuel leading the market with $93.6 million in revenue. Other major operators, such as DraftKings Inc., Caesars Sportsbook & Casino, BetMGM, and BetRivers, also reported solid performances. 🏀🏈 The holiday season with high-profile football and basketball games presented many opportunities for New Yorkers to wager, leading to a flourishing market. Read more about this with Conor Murphy’s report for CDC Gaming Reports: https://lnkd.in/gSvHZ94K #sportsbetting #NYGamingCommission #onlinebetting #recordrevenue #FanDuel #DraftKings #BetMGM #RushInteractive #handle #holidayseason #sportsbooks

Arizona has outpaced Nevada (Nevada!) in sports betting handle for the first time since legalization. According to the Arizona Department of Gaming’s recent report, Arizona's sports betting industry reached a staggering $656.3 million in total handle for April, surpassing Nevada by $87.2 million. This incredible milestone is not just a win for Arizona but a testament to the strategic foresight and leadership of key players in the industry. Kirk Adams, a founding partner of our firm, was instrumental in shaping the policies and environment that have allowed sports betting to thrive in Arizona. His efforts have helped create a regulatory landscape that fosters innovation and accessibility, driving our state to surpass $17 billion in all-time handle and secure significant tax revenues. The success of mobile sports betting apps, which account for 99% of Arizona's handle, underscores the importance of remote registration—an area where Arizona has excelled compared to states like Nevada. Industry leaders such as FanDuel, DraftKings, and BetMGM have been pivotal in this growth, demonstrating robust performance and contributing to Arizona's dominance in the market. The continued success of our state in this arena is a testament to strategic leadership, innovative practices, and a commitment to creating a thriving economic environment. 

#Massachusetts sees sports betting revenue hit calendar year low in August, despite seeing year-on-year growth in both revenue and handle.   💰 $33.3M in combined taxable online and retail revenue for the month, a 51.4% increase compared to last year, but down 19.2% from July.   📊 $447.3M in total handle across online and retail, up 42.1% year-on-year, and an 8.6% rise from July’s total.   🏆 DraftKings Inc. continues to lead the pack, generating $16.2M in revenue off $229.4M in bets, while FanDuel follows with $10.7M and a higher hold of 9.26%.