Compliance Updates
Betr Announces 2024 Online Sports Betting and iGaming Expansion Plans
Betr Holdings Inc. (Betr), the Miami-based sports gaming and sports media company, announced new market access deals for online sportsbook and casino in Pennsylvania and for online sportsbook in Colorado and Kentucky.
The company has already secured market access in Indiana, has applied for a sports wagering license in Maryland, and is currently live in Ohio, Virginia, and Massachusetts with its beta product. Betr remains on track to launch V1 of its Sportsbook ahead of the 2024 NFL season. The announcement comes on the heels of a highly successful 2023 for Betr, where the company launched its real money fantasy sports product, Betr Picks, ahead of the 2023 NFL season. Betr quickly achieved significant scale via Betr Picks â both with respect to paying users and revenue â and has been able to do so efficiently and profitably as the company has quickly become a leader in real money Fantasy Sports.
Betrâs market access partnership is with the Cordish Gaming Group, the gaming division of The Cordish Companies, which owns and operates casino resorts in Pennsylvania, Maryland, and Louisiana. Pennsylvania will also be the first state where Betr will launch Betr Casino (pending regulatory approval), its regulated iGaming vertical.
âWe are very excited to partner with Betr on the launch of their first online casino. Betr Casino will make a winning addition to the gaming options available to Pennsylvania players, which includes two of our own successful Live! Casino properties,â Rob Norton, President of Cordish Gaming Group, said.
In Colorado, Betr has secured online sportsbook market access with Boulter Developments, pending licensing approval from the Colorado Division of Gaming. Boulter Developments has also taken an equity interest in Betr.
âBoulter Developments is excited to be partnering with Betr in the wonderful state of Colorado, pending licensing approval from the Colorado Division of Gaming. Their innovative approach to the gaming space, along with their intuitive product and rapidly growing media arm, make this a no brainer partnership for us. Further, we are thrilled to be equity partners as we firmly believe Betr is the future of sports gaming in America as they continue to make sports and betting, betr,â said Steve Boulter of Boulter Developments.
In Kentucky, Betr has secured online sportsbook market access with the Eastern Band of Cherokee Indians, who have increased their existing equity stake in Betr previously acquired through an online sportsbook market access partnership covering an upcoming launch in Indiana (pending regulatory approval).
âOn behalf of our JV equity stake in Revolutionary Racing Kentucky, DBA, Sandyâs Racing & Gaming, we couldnât be more excited to expand our KY sports betting market access strategy with Betr,â Scott Barber, CEO of EBCI Holdings, said.
âBetrâs innovative suite of products and user-friendly app are truly cutting-edge technology, coupled with their unique approach to marketing and broadcasting sports related content, creating a differentiated product offering within a rapidly growing market. We are confident our expanded relationship with Betr (Indiana market access agreement) will be a perfect fit in the great sports state of Kentucky,â Scott Barber added.
Throughout 2024, Betr plans on pursuing a phased set of launches of its new V1 Sportsbook product in all jurisdictions it has acquired market access in to date. The company has also elected to not renew its temporary sports wagering license in Massachusetts, trading a 7 million population state for over 23 million in the net new states for collectively less economics than it would have required to renew in MA alone. By the end of 2024, Betr plans on being live in Pennsylvania, Ohio, Virginia, Indiana, Maryland, Colorado, Kentucky with its V1 Sportsbook and to be live with its Casino product in Pennsylvania, in addition to the 20+ jurisdictions it currently operates Betr Picks.
âWe are thrilled to announce our new market access partnerships for Sportsbook and the introduction of Betr Casino in 2024 ahead of our V1 Sportsbook launch. Through the success of Betr Picks, we have validated that our playbook of simpler and more intuitive user experiences built for casual fans on the product front, and original short form video built for the next generation of sports fans on social media on the distribution front, are winning strategies for rapidly and efficiently scaling a new real money gaming business in the US. The data we are seeing not only suggests that we are building a large and highly profitable real money gaming and media business, but that we are doing so by bringing new users into the category. We plan on replicating this playbook for Betr Sportsbook and Betr Casino after releasing V1 of our Sportsbook later this year. By the end of 2024, we should see a further step change in our scale, while also having successfully laid the foundations of at least four distinct business units: Betr Fantasy, Betr Sportsbook, Betr Casino, and Betr Media,â Joey Levy, Founder and CEO of Betr, said.
âThe new states we have acquired market access in will offer Betr Sportsbook the opportunity to reach over 17% of the U.S. adult population by the end of this year, while Betr Picks will continue to be available to over 50% of the U.S. adult population. Finally, we want to thank the MGC for their great partnership during our temporary license period in Massachusetts and we hope to receive the honor and privilege of reentering this market at a later date,â Joey Levy added.
Canada
Court Decision Upholds iGaming Ontario’s Model
iGaming Ontario has welcomed the decision of the Ontario Superior Court, which found that iGaming Ontarioâs model is consistent with the Criminal Code and that iGaming Ontario is conducting and managing igaming in the province.
âWe have always been confident in our model and are pleased that the court has ruled in our favour, and that Ontarians can continue to play with confidence in our regulated igaming market,â said Martha Otton, Executive Director of iGaming Ontario.
âOntarioâs model meets the requirements and contributes to the public good by protecting players, their data and their funds, while helping to fund priority public services in Ontario, and bringing well-paid, high-tech jobs and economic development to Ontario,â Otton added.
In dismissing the application brought forward by the Mohawk Council of KahnawĂ :ke (MCK), the Superior Court found that iGaming Ontario is the âoperating mindâ behind Ontarioâs competitive igaming market in accordance with the conduct and manage requirements of the Criminal Code.
iGaming Ontario will continue to conduct and manage igaming as it has since the launch of the regulated market on April 4, 2022.
Compliance Updates
Supremeland Gaming Continues U.S. Expansion With Supplier License Approval In Michigan
Supremeland Gaming, Inc., the emerging brand in American iGaming, has gained approval for a Supplier License in Michigan, marking the companyâs fourth U.S. state approval following the successful acquisition of interim approvals in Pennsylvania, New Jersey, and West Virginia.
Supremeland Gaming is approved to operate under this license and is now authorized to offer its cutting-edge innovation to the Great Lakes State. Their continued expansion underscores its commitment to pushing the boundaries of innovation in the iGaming industry.
Rickard Ăhrn, CEO of Supremeland Gaming, said: âWith approvals already in Pennsylvania, New Jersey, and West Virginia, our entry into Michigan underscores our dedication to serving players nationwide. We are excited about the opportunities this new market brings and look forward to delivering innovative, engaging, and responsible gaming solutions to the rapidly growing U.S. iGaming community.â
Supremelandâs game portfolio has garnered international appeal since its debut in November 2023. The innovative brand produces first-class games, including Red Panda Risingâą and its global debut, Munition Mineâą, for which its subsidiary, Powderkeg Studios, is shortlisted at the CasinoBeats Game Developer Awards.
Compliance Updates
Greyhound Advocates Applaud Gov. Ned Lamont for Signing Bill to Outlaw Dog Racing
The largest greyhound protection group in the world thanked Connecticut Governor Ned Lamont for signing a bill to outlaw greyhound racing, calling the new law a victory for everyone who cares about dogs.
âThe end of dog racing in Connecticut has finally come because of the hard work of dedicated lawmakers on both sides of the aisle. Greyhound advocates everywhere applaud Governor Lamontâs enthusiastic stand against this cruel industry. Connecticut now joins 42 other states that have already rejected this outdated and inhumane form of gambling,â said GREY2K USA President and General Counsel Christine A. Dorchak.
Greyhound racing is now illegal in 43 states, and only continues to exist at two tracks in West Virginia. After dog racing gradually declined for decades, Florida voters outlawed the activity in 2018 by a vote of 69% to 31%, closing twelve operational racetracks. A bill to prohibit gambling on greyhound racing nationwide was introduced in the 117th Congress and earned the support of 105 cosponsors and more than 250 humane groups, anti-gambling organizations, and local animal shelters.
All mainstream animal protection groups oppose greyhound racing due to animal welfare concerns. At the last two remaining dog tracks in West Virginia, state records indicate that 666 greyhounds were injured in 2022 including 218 dogs that suffered broken bones and five greyhounds that died. Thousands of dogs also endure lives of confinement at West Virginia tracks, kept in cages barely large enough for them to stand up or turn around for long hours each day.
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