Industry News of the Day for May 25, 2023
- AP News: NCAA Survey Shows 58% Of 18- To 22-Year-Olds Are Wagering; Athlete-Only Study Is Set For Fall
- More than half of the respondents to an NCAA-commissioned survey of 18- to 22-year-olds acknowledged placing sports wagers, with two-thirds of those who live on college campuses saying they engage in betting. The NCAA announced the results Wednesday, less than a month after the baseball coach at Alabama and athletes at Iowa and Iowa State were found to have made sports wagers in violation of NCAA rules.
- Gambling News: Super Group Posts Stable Q1 2023 Results, Praises Growth Investment
- Super Group has published its Q1 2023 results, providing insights into its performance during the first three months of the year. The gaming and betting group, which operates the famous Betway brand, saw its revenue remain stable while losses plummeted. Super Group’s operational EBITDA in Q1 2023 was $37.33 million, representing a sharp decline from Q1 2022. The company attributed the decline to a $17.86 million loss in the US.
- PlayUSA: Connecticut Lottery Will Soon Have A New Online Sports Betting Partner
- The Connecticut Lottery Corporation (CLC) seeks a new sports betting partner. CT Lottery released its request for proposals (RFP) on April 10, aiming to set the stage for a potential white-label partner. The move came weeks after the lottery announced its previous partner, Rush Street Interactive, was leaving the state. The two parties mutually decided it was time to end their partnership less than two years into a 10-year contract.
- PlayKentucky: Why Did KY Finally Pass Sportsbook Bill? Lack Of Tribal Influence Helped
- During odd-numbered years, the Kentucky legislature only has a 30-day legislative session. As a result, bills have an incredibly short timeframe to pass both chambers. Furthermore, odd years require a two-thirds approval from the Senate and House to get to Gov. Andy Beshear’s desk. In other words, the Kentucky sports betting bill was fighting an uphill battle from the start of 2023.
- SBC Americas: Maine Sports Betting Still Set For November Launch Despite Regulator Departure
- The Maine Gambling Control Unit has told local press that it is intent on launching sports betting by the end of 2023 despite upheaval at the agency, which included the exit of its director last week. Per the Press Herald, regulators in Maine are ready to continue with work to get sports betting launched this year following the controversy in the last weeks which saw director Milt Champion placed on absence.
- PlayMA: What No Sportsbook Promo Tax Write-Offs Means For Massachusetts Bettors
- Earlier this week, the Massachusetts Gaming Commission voted unanimously to include promotional play bonuses in the calculations for taxable revenue on sports betting operators. That means MA online sports betting apps cannot deduct sports betting promos from taxable revenue. Instead, they will have to include promo play expenses as part of their revenue for determining taxes to the state.
- NCSharp: NC Sports Betting Bill Sails Through Senate Committee But Not Without Changes
- North Carolina online sports betting legislation began its trek through the state Senate on Wednesday when an amended bill received a favorable vote in the Senate Commerce and Insurance Committee. Wednesday’s committee appearance was the first of three for House Bill 347 before it can reach the full Senate. Sponsored in the House by Rep. Jason Saine, HB 347 would legalize online sports betting in North Carolina.
- PlayOhio: Opinion: Ohio Is Setting A National Standard For Swift, Decisive Sportsbook Regulation
- Last week, Ohio once again took decisive action regarding problematic sports betting promotions in the state. Fanatics Sportsbook had been offering bet credits matching the amount of purchases through the Fanatics online retail store. Within hours of industry analysts debating the appropriateness of the promotion, the Ohio Casino Control Commission asked Fanatics to remove the offer.
- PlayPennsylvania: PA Gaming Operators Expected To Shift And Decrease Marketing Spend
- Sports betting and PA online casino operators are looking at promotional spend differently in 2023. Most PA gaming operators spend countless dollars in marketing to attract and retain customers. That has a big effect on why most operators have not been profitable yet. As the calendar hits Q2 and Q3, two of the slower quarters in sports betting, operators are shifting their marketing focus and decreasing spend.