Industry News of the Day for October 4, 2023

By iDEA | October 4, 2023

Industry News

  • Gaming Today: How AI And Predictive Analytics Power ‘Rithmm,’ A Sports Betting Tool
    • Megan Lanham was working on a master of business administration degree at MIT when the idea congealed: all this data-wrangling and modeling could be well-applied to sports betting as effectively as air traffic flow or the likelihood of Constellation Pharmaceuticals’ stock cratering. Boston and MIT, in particular, are fertile ground for this type of thinking. MIT’s Sloan School of Management annually hosts a stathead conference that a few years ago was heavy with sports betting flavor, and Massachusetts was in the process of legalizing sports betting when Lanham was matriculating.
  • SBC Americas: California Judge Sends Fliff Lawsuit To Arbitration
    • It was a victory for not just Fliff but other gaming companies, as a California court agreed with the company’s assertion that the arbitration in the terms and conditions of the sweepstakes sportsbook is binding. Last month, California Central Court Judge Sunshine S Sykes agreed with Fliff that plaintiff Bishoy Nessim will need to settle his complaint with the company out of court. Sykes found that Fliff’s motion to compel arbitration was appropriate and ruled in chambers that a hearing on the matter was not necessary.
  • Sports Handle: Caesars Nears Launch Of Fire Bets Product To Capture Momentum Shifts In Sports Betting
    • For bettors with a short attention span who wish to avoid the monotony of a grinding, deliberate 16-play drive, NFL RedZone has been a godsend. When eight games take place simultaneously on a Sunday, a bettor can flip to the NFL’s RedZone channel to watch a potential score from inside the 20-yard line. As the popularity of microbetting continues on an upward trajectory, Caesars Sportsbook is nearing the rollout of a new feature patterned after the RedZone.
  • US Bets: Gaming Industry Outlook Mildly Upbeat As Growth Slows Slightly
    • The American Gaming Association released its biannual Gaming Industry Outlook in partnership with Fitch Ratings on Tuesday, with financial data and executive attitudes giving cause for cautious optimism across the casino landscape. The vast majority of gaming executives reported good (42%) to satisfactory (55%) business conditions in the third quarter of 2023, with the former number down from 62% in Q1 and the latter up from 35%. Of the executives surveyed, 58% said they expected future business conditions in the next six months to be about the same, with the rest evenly split between those who expect better or worse conditions.

Colorado

  • PlayColorado: Czech Company Oddin.gg Granted License For Esports Betting In Colorado
    • Czech company Oddin.gg has received a temporary license to offer its business-to-business esports betting product in Colorado. The company’s temporary Colorado license comes on the heels of similar approvals in Ontario and New Jersey. As a B2B company, Oddin.gg won’t offer its services directly to Colorado bettors. Instead, the company is expected to partner with operators in The Centennial State to power the operators’ esports betting markets and functionality.

Nevada

  • Legal Sports Report: Nevada Sports Betting Mobile Share Jumps In August
    • Online Nevada sports betting increased in August with 73.4% of the month’s handle coming from mobile applications. Bettors wagered $316.8 million through Nevada sports betting apps, according to figures released Friday by the Nevada Gaming Control Board. That 73% of handle is the highest percentage of online wagering since April 2022. Sports betting in Nevada has one of the lower percentages of online wagering because of its in-person registration rules.

New Jersey

  • PlayNJ: State Enjoys Record-Breaking Tax Collection Year — Thanks To Massive Growth Of NJ Online Casinos
    • New Jersey online casinos generate the majority of gambling-related taxes collected by the state, according to public reports. For the last three years, internet casino revenue has produced more taxes than all nine Atlantic City casinos. The post-pandemic growth of online casinos in NJ and the state’s higher tax rates on all forms of internet wagering have altered the balance. And, based on all currently available data, that change is likely permanent.

New York

  • PlayNY: New York Sports Betting Regulators Sign Off On Fanatics Takeover
    • Fanatics is on its way to New York. The New York State Gaming Commission announced during its Tuesday meeting that it has approved Fanatics Betting and Gaming to officially take over the PointsBet-branded online sportsbook, allowing Fanatics to finally join the NY sports betting scene. “Today, the New York State Gaming Commission approved Fanatics Betting and Gaming’s acquisition of PointsBet New York LLC,” Fanatics said in a statement.
  • Bonus.com: New York Adds Teeth To Its Sports Wagering Ad Regulations
    • New York sports wagering ad regulations became more restrictive on Oct. 3. That’s when the New York State Gaming Commission (NYSGC) approved changes to the state’s sportsbook marketing and advertising rules. Today’s unanimous vote in favor of the Sports Wagering Advertising and Marketing regulation additions and one amendment brings months of discussion to a close. At a high level, the changes stop New York sportsbook operators from using words like “free,” “cost-free,” or “free of risk.”

Ohio

  • PlayOhio: DraftKings Maintains Ohio Market Lead, Fanatics Surging In August Report
    • In July, we saw DraftKings usurp FanDuel for the top spot for monthly volume in the Ohio sports betting market. That did not change in August, in what was a pivotal time with the lead-up to football season. According to numbers released by the Ohio Casino Control Commission, DraftKings handled over $133.8 million in sports bets in August, widening its lead over FanDuel, which took in over $115.8 million worth of wagers.

Ontario

  • PlayCanada: Bet99 Becomes Latest Ontario Operator To Enlist GeoComply’s Services
    • How many Ontario gambling operators work with GeoComply to provide geolocation gambling services? The company cryptically told PlayCanada on Tuesday, “a majority of Ontario operators are understood to use GeoComply.” While the full list of names remains concealed, we do know one of them for sure. On Oct. 3, Bet99 chose GeoComply as the geolocation supplier for its products among the legal Ontario online casinos and Ontario sportsbooks.

Pennsylvania

  • PlayPennsylvania: Pennsylvania Gaming Market Supports More Than 33,000 Jobs
    • The Pennsylvania gambling scene is one of the more robust in the country. The Keystone State is home to 17 casinos, which support 33,171 jobs, according to the American Gaming Association (AGA). The number of casinos in Pennsylvania has grown in 2023, and will likely continue to grow over the years. Pennsylvania’s retail locations, along with the help of PA online casinos, set the stage for a record-breaking economic impact this past year.
Posted in Daily Clips