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Virginia Lottery Board Approves Sports Betting Regulations

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Virginia Lottery Board Approves Sports Betting Regulations

 

The Virginia Lottery Board has approved the proposed sports betting regulations after the fifty-six day public consultation period ended on September 9.

As part of the public consultation, it received 183 comments from various companies and sports leagues. The Lottery’s deputy director Gina Smith said each comment was read and reviewed.

“Creating a regulatory structure for sports betting within the aggressive timeline that was mandated by the legislature consumed a lot of bandwidth over the summer. And today’s board action will represent a really significant step forward,” Executive director Kevin Hall said.

The next step is reviewing the license requests from operators. The Lottery Board will receive applications from October 15 until midnight on October 31. They will then be subject to a 90-day review period.

WarnerMedia Takes Chance on Sports Wagers with “TNT Bets” Live-stream

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WarnerMedia Takes Chance on Sports Wagers with “TNT Bets” Live-stream

 

WarnerMedia is going to join the growing parade of media firms eager to court consumer interest in sports betting.

During the coverage of NBA’s Western Conference Finals, TNT will present an alternate live-streamed feed of the games that includes commentary on betting analysis and odds. The feed, known as “TNT Bets” and made available to cable and satellite subscribers via the Watch TNT app, will be hosted by Bleacher Report’s Cabbie Richards, Kelly Stewart, and Tim Doyle, and the leading gaming company FanDuel will provide real-time statistics and information.

“We haven’t done anything like this to date,” Will Funk, executive VP of sports partnerships and branded content at WarnerMedia’s Turner Sports, said.

“We are going to take the learnings from this and apply it to the future. This is not just a one-game kind of thing. We are working with FanDuel on a number of things across the portfolio, testing things and figuring what really moves the needle on what helps us from a viewer engagement standpoint and what helps FanDuel on the customer acquisition side,” Funk added.

NetEnt expands in the US with BetMGM deal for the newly regulated market in West Virginia

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NetEnt expands in the US with BetMGM deal for the newly regulated market in West Virginia

 

NetEnt is set to launch its award-winning games in West Virginia with iGaming operator BetMGM. This marks NetEnt’s first entry into the Mountain State.

NetEnt has teamed up with fast-growing iGaming group BetMGM in a partnership that is set to further increase the supplier’s reach in key US markets. Backed by GVC Group and MGM Resorts, BetMGM is soon to launch NetEnt content in West Virginia, which opened the doors to online casinos on July 15, marking the first time NetEnt’s internationally renowned content will be available in the market. NetEnt recently received a temporary license from the regulating authorities in West Virginia.

The agreement follows a strong period of growth for NetEnt in the US, after recently reporting triple-digit increases in quarterly gross gaming revenue in both Pennsylvania and New Jersey.

“BetMGM’s rapid success in the US has been impressive and shows no signs of slowing down, making this a significant deal for our company as we continue to expand across the country,” says Brian Kraft, NetEnt Vice President Commercial, Americas. “Thanks to the strong performance of our games locally, the US is now a major revenue driver for NetEnt and we look forward to working with BetMGM to accelerate growth of both our businesses.”

Matthew Sunderland, VP Gaming at BetMGM, said: “We have already seen great success with NetEnt content in New Jersey. Their team really understand what appeals to gaming customers and I am positive this will serve as a major advantage as we strengthen our existing casino offering in West Virginia.”

Gradual Re-Introduction of Professional Sports is a Boon for the Betting Industry

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Gradual Re-Introduction of Professional Sports is a Boon for the Betting Industry

 

Casinos and gambling have been large markets for many years, but sports betting has a been a slow growing segment; until recently. The slow growth of sports betting in years past is, in large part, attributable to numerous legal restrictions across most states as well as a lack of access due to insufficient technological infrastructure. Now, the sports betting market is changing and growing rapidly. For example, after an agreement between Caesars Entertainment and Disney-owned ESPN, which made Caesars, through its sports betting partner, William Hill, a co-exclusive partner for gambling link-outs from ESPN, Caesars Entertainment CEO Tom Reeg expressed a positive outlook for the market. “We think there’s a lot of money to be made here over time, and we’re seeing a lot of interest from non-gaming operators… We have not seen a growth opportunity in this space in quite some time, so it’s an adjustment for analysts to look at a hyper-growth piece of a business that has been mature… We’re in the very early stages of legalization of sports betting,” Tom Reeg explained according to CNBC. FansUnite Entertainment Inc., Caesars Entertainment, Inc., MGM Resorts International, Wynn Resorts, Limited, DraftKings Inc.

As the legal system slowly becomes more friendly towards online sports betting, states around the country look towards the young and growing industry to raise tax revenue. Recently, the advancement of sports betting in Illinois took place, vastly expanding the mobile wagering options available to the state’s 12.7 million residents. Furthermore, data from Odds.com and published by Forbes showed that Illinois is poised to generate upwards of USD 73 Million in taxable revenue if the estimates of a USD 488 Million annual market come to fruition. The 15% tax levied on gaming revenue could see this number rapidly increase once measures to allow online and mobile offerings are put in place.

FansUnite Entertainment Inc. announced earlier last week that, “McBookie Ltd (“McBookie”) has continued its impressive performance since becoming part of FansUnite.

The Scottish based operator increased its overall year-over-year (“YOY”) turnover for the months of July and August by 108% – from $3M CAD to $6.3M CAD, with 78% of the turnover growth led by the return of sport.

The increase resulted in a YOY increase in Gross Gaming Revenue over the same period of 412%, resulting in gross gaming revenue of $371K for July and August 2020 and a gross margin of $161K. During the same period last year the platform generated $72K in gross gaming revenue resulting in a gross margin loss of $66K.

With the strong results over the last two months, McBookie is preparing to continue the positive trend with the return of the English Premier League and the other major European leagues in the coming weeks.

‘We are very pleased that McBookie has been able to continue its strong 2020 performance despite the slowdown in sports betting from the global pandemic,’ said Scott Burton, CEO of FansUnite. ‘The figures for the past 60 days have been exceptional and continue to validate our belief in this leading B2C betting brand and the management team behind it. For the duration of 2020, major European leagues are set to begin again and present a great opportunity for McBookie to capture the attention of new and existing customers. We will work directly with McBookie in ensuring their presence in the U.K. expands and they are in a position to service this growing user base of bettors.’

‘The team at FansUnite has worked very hard to improve all aspects of our business since joining FansUnite and it is great to see that replicated in the numbers,’ said Paul Petrie, founder and Director of McBookie. ‘With just one month to wait until the whole of Scottish football is back, having the resources and expertise of FansUnite helps puts us in an excellent position to continue building on our recent success.’

While the return of sport has provided an uptick in betting volume, casino turnover during the two-month period was strong as well with $3.1M wagered. McBookie will be looking to build on these numbers with the recent launch of a Live Casino product earlier this month.

‘After launching a successful Virtual Sports betting offering in March, we decided to expand our platform with the addition of a Live Casino,’ continued Paul Petrie. ‘It represents another betting alternative for our loyal customers and helps us diversify our revenue stream.'”

SOURCE FinancialBuzz.com

Caesars Entertainment Partners with GTG Network for Football Pick’Em Online Game

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Caesars Entertainment Partners with GTG Network for Football Pick’Em Online Game

 

Score points by correctly predicting all Sunday and Monday Pro games each week – Cash Prizes Total 60k Each Week
Contest Open to Caesars Rewards® Members

Sports gamification and content provider GTG Network announced a partnership with Caesars Entertainment to introduce the all-new Pro Football Pick’em Online Game. Each week of the upcoming season verified Caesars Rewards® members will compete to win cash prizes totaling $60k by correctly picking all Sunday and Monday professional games.

How to play? Visit www.caesars.com/NFLPickem and pick the winners of all Sunday and Monday games each week.

WEEKLY CASH PRIZES – 60 participants each week will win prizes:

Place Prize
1st $20,000.00 cash
2nd through 5th $2,500.00 cash, each
6th through 10th $1,000.00 cash, each
11th through 60th 50,000 Reward Credits® (estimated retail value of $500.00)

 

Additionally, GTG Network has developed a comprehensive fantasy game for Caesars VIP members as part of their collaboration for the upcoming season.

GTG Network continues to be our partner of choice for free to play games, said Josh Margolis, VP Loyalty & Digital Products, Caesars Entertainment, Inc. “They have once again demonstrated an ability to deliver market leading products, working closely with us to customize solutions specific to our needs. With digital engagement more important than ever, we couldn’t be more delighted to expand our relationship.”

“Pro football fans love picking winners each week,” said Nathan Rothschild, co-founder and partner, GTG Network. “It is incredibly exciting to once again partner with Caesars to launch this innovative fan experience for football fans and Caesars Rewards members to engage with the football season. Our on-going relationship with Caesars furthers our vision of enhancing the way sports fans engage with their favorite sports. Coupled with our recent partnership with Caesars on the Draft Pick-em game, this cements GTG Network as the industry leader in enhancing the fan experience by powering engagement through data analytics and gamification.”

NASCAR Becomes First League Partner of AGA’s Have a Game Plan.® Bet Responsibly. Campaign

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NASCAR Becomes First League Partner of AGA’s Have a Game Plan.® Bet Responsibly. Campaign

 

The American Gaming Association (AGA) and NASCAR are teaming up to educate NASCAR fans on responsible sports betting through the AGA’s Have a Game Plan.® Bet Responsibly. public service campaign. As the campaign’s first professional sports league partner, NASCAR will develop co-branded content that encourages new and seasoned sports bettors to “Know When To Pit” and bet responsibly.

Today’s partnership announcement coincides with the AGA’s Responsible Gaming Education Week (Sept. 13-19), held annually to showcase the gaming industry’s year-round commitment to responsible gaming initiatives and promote transparency and gaming literacy to customers.

“Legal sports betting allows fans to engage with their favorite drivers and race teams in new, exciting ways. It is critically important to ensure they are informed about how to do so responsibly,” said Casey Clark, Senior Vice President, Strategic Communications, AGA. “This partnership further demonstrates NASCAR’s leadership among professional sports on responsible gaming.”

Over the last year, NASCAR entered into a series of partnerships with world-class brands to prepare the industry and its fans for the rapidly growing sports betting market. Sportradar signed on as NASCAR’s integrity partner, BetGenius as its data provider, Penn National Gaming and BetMGM as Authorized Gaming Operators, IMG Arena as its international streaming partner, and EquiLottery and LEAP in the lottery and virtual gaming spaces, respectively. To help fans become educated on sports betting, NASCAR recently launched NASCAR.com/betcenter and also works closely with The Action Network and VSiN.

“Ensuring that our fans have the resources to bet responsibly is a founding principle of our gaming strategy,” said Scott Warfield, Managing Director, Gaming, NASCAR. “The AGA uniquely understands the convergence of legal betting, sports, and responsible gaming. As sports bettors increasingly engage with NASCAR, we look forward to working together to promote bettor education and resources that help prepare our fans for the rapidly expanding legal sports betting landscape.”

As part of the partnership, NASCAR will develop co-branded content for distribution across its social platforms and produce public service announcements that will run across national radio. NASCAR.com will also produce original responsible gaming content for NASCAR.com/betcenter, which provide fans with stats, odds, and information designed to empower them to make informed decisions in the fantasy and gaming space.

The American Gaming Association launched Have a Game Plan.® in late 2019 as an extension of the industry’s ongoing commitment to responsibility. The AGA and NASCAR are both contributors to the International Center for Responsible Gaming’s fund to support research on sports wagering; AGA as a founding donor and NASCAR as the fund’s first league supporter.

Vigtory Names Steven Astrachan as Vice President of Marketing

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Vigtory Names Steven Astrachan as Vice President of Marketing

 

Vigtory, an innovative new sportsbook operator, is pleased to announce that Steven Astrachan has joined the Chicago-based team as Vice President of Marketing. Astrachan will focus on building integrated, consumer-driven campaigns that seamlessly connect sports bettors with engaging content and establish Vigtory as a brand sports bettors can rally behind.

“Steven is an incredibly talented marketing executive. In my extensive career in gaming, few individuals have such deep domain expertise in sports betting and iGaming; knowing every metric on every channel and how they correlate to performance focused marketing initiatives,” said Scott Butera, Co-CEO of Vigtory. “He’s joining an already successful, energetic team at the perfect time to spearhead Vigtory’s marketing strategy and operational expansion, and we could not be more excited to have him aboard.”

Astrachan is responsible for leading Vigtory’s brand positioning, customer acquisition and customer retention. Prior to joining Vigtory, he was PointsBet’s first U.S. marketing hire and served as Director of Media & Marketing, where he was instrumental in the development and success of their media department and customer acquisition campaigns that propelled the company to become a top sportsbook in the space.

While at PointsBet, Astrachan focused on digital and social platforms, constructing marketing and media content deals with Bleacher Report, Barstool Sports, The Action Network and VSiN, among other successful affiliate deals. He orchestrated linear distribution strategies on TV and radio and ran the funnel conversion leading to over 50 percent year-over-year increase in overall FTB%.

“Steven understands consumer attention, go-to-market strategy, and customer retention in a way that few executives can hope to, and has a proven track record of maximizing growth potential of digital and social campaigns in the space,” said Sam Rattner, Co-CEO of Vigtory.

Astrachan successfully built, hired out, and facilitated PointsBet’s US marketing strategy from day one. His work earned him a nomination for the 2019 Hashtag Sports Award for Best Integrated Campaign.

“Vigtory is going to come in and disrupt the entire sports gambling landscape,” said Astrachan. “When Sam approached me with the opportunity, I immediately knew it was something I needed to be a part of. Vigtory’s offerings will exceed market expectations. It’s a privilege to be tasked with getting the word out that Vigtory has assembled the most innovative product, competitive price, and superior betting experience in the entire U.S. market.”

Vigtory recently announced a multi-year partnership with The Action Network, one of the most trusted sources for sports betting news and analytics. Through the deal, The Action Network will power an array of sports media content and modernized data & analytics tools for Vigtory. To learn more about Vigtory, or to sign up for an exclusive offer, visit betvigtory.com.

Fabbri strengthens Innovative Technology Americas, Inc.

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Fabbri strengthens Innovative Technology Americas, Inc.

 

Innovative Technology Americas, Inc. welcomes Lauren Fabbri, Business Development Manager for the US market focusing on Gaming, Amusement and Vending. Lauren joins the US team and is responsible for generating new sales opportunities in this vibrant and ever-changing marketplace.

Welcoming Lauren to the organization that specializes in cash management and validation, Rebecca White, VP of Sales & Business Development, said, “We are delighted to have Lauren onboard. As well as establishing new business, Lauren will account manage our existing customers, monitor sales trends, educate prospective customers on products, identify emerging markets, and represent ITL at various state and national trade association events and exhibitions. Lauren’s primary market is the Gaming sector in Georgia (GA) and the Southeastern United States.”

Commenting on her new role, Lauren said, “Joining ITL has been such an exciting new venture for me. Being given the opportunity to work for a leading manufacturer is a phenomenal learning experience. Despite joining the company at an unusual time with COVID-19 affecting businesses all over the world, I was pleased to be able to attend my first trade show with the team at GAMOA (The Southern Gaming Expo) in August. I was taken aback with the amount of comments, interest, and feedback we had about our state of the art NV200 bill validator and foresee a rise in installations in the region. I am looking forward to being part of future opportunities where I can represent such reliable and innovative products in an industry I have grown to love. I will continue to share our ever-evolving products with my customer base, and I am very excited about the direction that the organization is heading. I feel proud to be part of this journey.”

Concluding Rebecca commented, “Lauren has worked in the Gaming & Amusement industry for 8 years so she will already be known to many of you. She has a solid background in sales, a wealth of contacts, knowledge and expertise and I look forward to working with Lauren to bring you the latest products and solutions to make your cash handling more efficient and cost effective.”

PlayIllinois.com: Mobile registration a boon for Illinois sportsbooks

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PlayIllinois.com: Mobile registration a boon for Illinois sportsbooks

 

An executive order that temporarily allowed remote registration for sports bettors helped Illinois open the door to a remarkable July, even if only two sportsbooks were operating to take advantage.

The Illinois Gaming Board announced Thursday that 230,000 mobile sports betting accounts have been created, a number that would have been a fraction of that with the state’s in-person registration requirement in effect, according to analysts for PlayIllinois, which tracks regulated online and retail gaming in the state. And with the remote registration window once again opened by Gov. J.B. Pritzker, at least until Saturday, new sportsbooks opening, and major sports returning, the difference in the coming months could be in the 10s of millions of dollars.

“We have seen over the past two years that legal jurisdictions with remote registration have a distinct advantage over those states with an in-person registration requirement,” said Dustin Gouker, lead analyst for PlayIllinois.com. “With Illinois’ sizable potential as a market, it could be a difference measure in tens of millions in wagers each month.”

PlayIllinois estimates that the sports betting market in the state will eventually grow to $9 billion to $11 billion in bets annually, but the industry is off to an uneven start amid a pandemic and confusing in-person registration rules that have been on again and off again. Through July, Illinois sportsbooks have accepted $61.8 million in bets, with $52.5 million coming in a July that was mostly void of major U.S. sports, according to official reporting released earlier this week.

$51.9 million of July’s handle was generated by BetRivers/Rivers Casino in Des Plaines, with the remainder coming from Argosy Casino Alton. The surge was inevitable, with or without remote registration. But to put BetRivers month into perspective, its Illinois handle would have topped every sportsbook in Pennsylvania except FanDuel during the month of July.

Not bad for a debut.

With few major sports to bet on, BetRivers received a significant boost from Gov. Pritzker’s executive order to suspend the state’s in-person registration requirement — which forces a sports bettor to be in the physical presence of a retail sportsbook at time of registration — until July 26. That suspension was reinstituted on Aug. 26 through at least Saturday, opening the door for a remote registration boom for DraftKings, FanDuel, PointsBet, and William Hill, which have all launched online sportsbooks in Illinois since. But no one is certain if the governor will allow the executive order to lapse this weekend.

“We’re so early in the process in Illinois, but August and September will be particularly telling months,” Gouker said. “Obviously, we expect a surge in action just from a full schedule of major sports. But remote registration widens the market by simply adding a layer of convenience for those in Illinois who don’t live near a retail sportsbook.”

The difference between in-person registration requirements and remote registration can be dramatic. Nowhere is that clearer than in New Jersey and Nevada.

New Jersey, which does not have in-person registration requirements, has overtaken Nevada as the nation’s largest sports betting market. And that difference has been critical during the pandemic.

New Jersey — which does not have in-person registration requirements — has overtaken Nevada as the nation’s largest sports betting market, topping Nevada in every month this year and shattering Nevada’s record for monthly handle in August with $668 million in wagers. And from March through July, New Jersey accepted $834.5 million in bets, nearly twice as much as Nevada’s $441.1 million.

Indiana, Colorado, and Pennsylvania have seen success fueled by online betting without in-person registration, too.

“It is a key differentiator and fundamental difference between Nevada and the largest of the newer markets, all of which have benefited from their online products being untethered to in-person registration,” Gouker said. “That has held especially true during the pandemic, when in-person betting has slowed even after reopening from shutdowns.”

For more information and analysis on regulated sports betting in Illinois, visit PlayIllinois.com/news.

 

About the PlayUSA.com Network:
The PlayUSA.com Network is a leading source for news, analysis, and research related to the market for regulated online gaming in the United States. With a presence in over a dozen states, PlayUSA.com and its state-focused branches (including PlayIndiana.com, PlayIllinois.com, PlayNJ.com and PlayPennsylvania.com) produce daily original reporting, publish in-depth research, and offer player advocacy tools related to the advancement of safe, licensed, and legal online gaming options for consumers. Based in Las Vegas, the PlayUSA Network is independently owned and operated, with no affiliation to any casino — commercial, tribal, online, or otherwise.

BetMGM Named First Official Sports Betting Partner of Las Vegas Raiders

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BetMGM Named First Official Sports Betting Partner of Las Vegas Raiders

 

BetMGM, the joint venture between MGM Resorts International and GVC International, and the Las Vegas Raiders announced today that BetMGM is now An Official Sports Betting Partner of the Raiders. The partnership is an extension of an existing multi-year partnership with MGM Resorts and the Raiders.

“We are pleased to add BetMGM to the MGM Resorts partnership portfolio,” said Raiders President Marc Badain. “The addition of BetMGM will open new levels of engagement for Raiders fans and guests of Allegiant Stadium.”

As an Official Sports Betting Partner of the Raiders, BetMGM will utilize assets to provide educational information about the BetMGM app to Raiders fans. Sports fans in Nevada can now register for the BetMGM app, available on iOS and Android, by visiting any MGM Resorts Sports Book in Las Vegas.

“We’re thrilled that BetMGM is the first Official Sports Betting Partner of The Las Vegas Raiders,” said BetMGM’s CEO Adam Greenblatt. “This new partnership complements what is already a wonderful and rewarding relationship with MGM Resorts and the Raiders and we look forward to introducing Raiders fans to the excitement of sports betting with BetMGM.”

Along with being An Official Gaming Partner of the Raiders, MGM Resorts is a Founding Partner of Allegiant Stadium and has prominent branding throughout the stadium, including in-stadium signage and an MGM Resorts VIP entrance on the west side of the building. The venue also features a private MGM Club that will offer Raiders fans an ultra-exclusive game-viewing experience with a full-service premium bar, luxury lounge and upgraded stadium seating. Additionally, MGM Resorts is the presenting sponsor of the Raiders first-ever regular season game at Allegiant Stadium on Sept. 21.

MGM Resorts CEO and President Bill Hornbuckle said, “All of us at MGM Resorts are proud to welcome the Raiders and the NFL to Las Vegas. We look forward to providing Raiders fans a world-class sports betting and entertainment experience, both in our BetMGM Sportsbooks and digitally, through the BetMGM mobile app.”

Since partnering in January 2020, MGM Resorts and the Raiders have been committed to collaborating on community outreach programs benefiting Southern Nevada.

As MGM Resorts and BetMGM continue to expand and evolve their sports betting and other gaming platforms, responsible gaming education remains a key focus. GameSense is an industry-leading program, developed and licensed to MGM Resorts by the British Columbia Lottery Corporation (BCLC), focusing on positive, transparent and proactive conversations with players about how to gamble responsibly. The program comes alive through personal interactions between guests and trained staff based at the M life Rewards desk at each MGM Resorts property. In addition to speaking to trained employees – known as GameSense Advisors – guests also utilize interactive GameSense touchscreens and educational materials and other resources found at the M life Rewards Desk.

Legends Global Partnerships represented the Raiders to secure the partnership with MGM Resorts International as a part of their duties as the stadium’s official premium ticketing and sponsorships agency.

SOURCE MGM Resorts International

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