This Week's Sports Betting Update
Spotlight Sports Group
Evolved from the Racing Post, we deliver distinctive sports betting experiences
This week's edition of our newsletter is sponsored by ICE London, which returns to ExCel London February 6-8, 2024. Grab a coffee, take five minutes and we’ll fill you in on everything you need to know from this week.
One big story
US economy buoyed to the tune of $329 billion by tribal and commercial gambling, says AGA
The American Gaming Association (AGA) has calculated that the US economy was bolstered by $329bn from tribal and commercial gambling across the US in 2022.
A new study undertaken by Oxford Economics showed the sector created jobs for 1.8 million people, with a subsequent $104bn paid out in wages. As a result, the sector also yielded $52.7bn in tax revenues for local, state and federal governments.
The split between casino spending on commercial gaming and tribal gaming was in favour of the former, with commercial gaming totalling $79.9bn and tribal gaming attracting $46bn.
Learn more about the industries the American gambling sector surpassed in terms of economic contributions.
Upcoming Webinar
Actionable sports betting content: Why bettors need it more now than ever
This webinar, presented by Spotlight Sports Group, will give you a thorough view into how actionable sports betting content on bookmaker and affiliate platforms has been proved to successfully engage with sports bettors in recent years.
The experts participating in this webinar will be Rob Black, B2B Sales Director of SSG, Owen Duffy, Head of Sport Product for 888 William Hill, and Andrew Mook, Head of Marketing Strategy and Planning at Sky Bet.
Keeping the conversation interesting will be the former Racing Post editor, Bruce Millington as the moderator. You don't want to miss this conversation.
Register here for the upcoming webinar.
What you need to know
Commercial
Regulation
Tim Miller, executive director of the UK Gambling Commission (UKGC), has called for global collaboration on future iGaming regulation. Miller feels that by working together, regional regulators can strengthen their wider impact, creating a safer global environment for bettors and eradicating black market gambling once and for all. More
Technology
Light & Wonder has unveiled new live dealer casino games from Authentic Gaming, which have been made available in the regulated Michigan market. These games are supplied via a partnership with Rush Street Interactive’s BetRivers iGaming brand. Light & Wonder purchased Authentic Gaming in the autumn of 2021, making its first splash in the live casino scene. More
People news
Recommended by LinkedIn
Agustin Gonzalez named director of technology and innovation at Grupo Codere
Tech guru Agustin Gonzalez has been appointed as the new director of technology and digitalisation at Grupo Codere, with a remit to head up its digitalisation strategy.
With over 20 years of expertise working in the digital transformation, tech and security spheres, Gonzalez is described as a critical appointment in the firm’s evolution, according to its press release.
Gonzalez will also be in charge of overseeing Codere’s cybersecurity approach, seeking ways to thwart cyber-crime threats and safeguard sensitive personal and financial data.
Learn more about Codere’s recent restructuring of its senior management team.
This week's talking point
Why are banks closing the accounts of established racecourse bookmakers?
Racing Post industry editor, Bill Barber, has revealed that on-course horseracing bookies are continuing to experience issues with banks closing their accounts.
Conservative MP Philip Davies recently discussed the issue, describing it as a "scandal".
Simon Walmsley, chair of the National Association of Bookmakers and director of the Federation of Racecourse Bookmakers, said he is being notified of bookmakers’ bank account closures on a weekly basis.
Walmsley insisted these practices had been going on for years rather than months and is not a new issue for on-course bookmakers.
Click here to get the views of Christopher Hudson, president of the British Racecourse Bookmakers’ Association, on the heavy-handedness of banks towards bookmakers in dealing with issues like money laundering and the prevention of terrorism.
This week's insight
Why live-streamed football is increasingly a 24/7 operation for online bookmakers
Exposing football bettors to leagues and competitions in alternative regions should be one of the number-one priorities of online sportsbooks, according to Patrick Mostboeck, senior vice president of audiovisual at Sportradar.
Mostboeck believes live streaming football matches from all four corners of the globe is an increasingly effective way to drive bettor loyalty and retention, thereby improving the bottom line of sportsbooks.
Adding global football content to a sportsbook’s live-streaming portfolio can drive liquidity in betting markets that had previously been considered exotic. Whether it’s the addition of the Japanese J-League, the Korean K-League or the Saudi Arabian Pro League, Mostboeck believes investing in a well-rounded live football streaming schedule can encourage repeat visits and extended dwell times from bettors.
Mostboeck pointed to a Sportradar case study relating to online sportsbook MaxBet. The company implemented live streaming of the German Bundesliga and within three seasons it had seen a 406% rise in live betting revenues and a 206% increase of in-play betslips.
Learn more about the possibilities of live streaming less exposed football leagues worldwide and their integration within a sports betting platform.
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