This Week's Sports Betting Update

One big story 

Over 14,500 bets placed per second ahead of Super Bowl LVIII

Over 14,500 sports bets per second were placed in the US on the outcome of Super Bowl LVIII, according to new data from GeoComply. The firm also revealed a 22.3% year-on-year rise in geolocation checks carried out over Super Bowl LVIII weekend.

GeoComply monitored sports betting activity across the weekend, with checks taking place in all US states where sports betting is legalised, alongside the unincorporated territory of Puerto Rico.

GeoComply believes the rise in geolocation checks is a good sign for the sustainability of regulated sports betting markets stateside, ensuring safer betting environments for Americans.

The firm also discovered a 15% year-on-year rise in active online sportsbook accounts, totalling 8.5 million across the 28 legal US markets.

Click here for more data on Super Bowl LVIII betting volumes and hear from GeoComply’s co-founder and CEO, Anna Sainsbury.

What you need to know

Commercial

• 🇺🇸 DraftKings has been named the official sports betting partner of Barstool Sports. A new multi-year arrangement has been agreed, with the two brands joining forces for a second time, having collaborated on marketing efforts a decade ago. More
• 🇺🇸 A new survey from the United States Census Bureau has discovered over a third (37%) of all tax revenue generated from US-based sports betting is located in New York state. Its Quarterly Survey of State and Local Tax Revenue saw gross tax receipts from sports betting hit $506 million in Q3 2023, up 20.5% year-on-year. More
• 🇫🇷 Flutter Entertainment has secured its first deal to supply its multi-channel sportsbook platform with Pari Mutuel Urbain (PMU) in France. PMU will be the first brand that’s not Flutter-owned to use its underlying sportsbook technology, building on its existing partnership that’s lasted since 2010. More
• 🇺🇸 Penn Entertainment has agreed a $25m deal to purchase the New York sports betting licences of Wynn Interactive Holdings. The move paves the way for Penn to forge ahead with the launch of its ESPN Bet platform in the Empire State sometime this year. More

Regulation

The Betting and Gaming Council (BGC) has confirmed it has commenced the search for a new chief executive. With the BGC entering its fifth year, the group has revealed it is in need of a figurehead to “build trust and confidence” in the UK gambling sector. The group added that any prospective CEO would work closely with the Executive Chair in shaping the future of the organisation. More

Technology

Spotlight Sports Group has expanded its horse racing content offering to include ‘Spotlights’ and ‘Verdicts’ on Australian and New Zealand racecards. This extension builds on its already unparalleled insights on horseracing around the world, having recently added US, French and South African racecards to its coverage. These insights can be integrated seamlessly into any sports betting platform via an API. More

People news

Niklas Lindahl departs global chief marketing officer role at LeoVegas Group

Niklas Lindahl has announced he is stepping down from his position as global chief marketing officer at LeoVegas Group. Lindahl leaves after almost six years with the group, having served multiple roles since his arrival in April 2018.

Lindahl confirmed his departure in a LinkedIn post. His exit comes at a hectic moment for LeoVegas Group, with a return to the Dutch market since being acquired by MGM Resorts International in a deal worth £482.8m.

Read more from Lindahl on his time at LeoVegas.

This week's talking point

Analyst claims UKGC has failed to adhere to the Regulators’ Code

A recent report published by Dan Waugh, partner at specialist gambling research and advisory firm, Regulus Partners, suggests the UK Gambling Commission (UKGC) has repeatedly not complied with various provisions within the Regulators’ Code.

Waugh insists that an industry debate should be held to determine how much the Regulators’ Code should guide the UKGC’s actions.

Regulus’ 48-page dossier found evidence that two of the six provisions of the Regulators’ Code have been particularly disregarded, both of which were labelled “non-trivial”.

The provisions related to regulators operating in such a way that underpins the growth and compliance of those they regulate. Additionally, that they ensure the transparency of their regulatory activities.

Click here to discover the string of recommendations included in the report, including one for the UKGC to reaffirm its commitment to the Regulators’ Code and its provisions.

This week's insight

How is BoyleSports navigating the challenges surrounding the new Irish regulatory bill?

SBC News recently caught up with Vlad Kaltenieks, chief executive of BoyleSports, to learn how the bookmaker is dealing with the regulatory changes afoot in the Irish betting market.

Kaltenieks insisted the brand welcomed the Gambling Regulation Bill and its central mission to protect citizens from gambling harm. However, BoyleSports had also highlighted a string of consequences for the industry should specific amendments not be made before the bill is enacted.

Kaltenieks fears the bill in its current guise will push many more Irish bettors to the black market, where operators lack the staple principles outlined in the Gambling Regulation Bill.

He also believes an outright ban on inducements is a major concern for BoyleSports and the broader sector. Kaltenieks believes a total prohibition of inducements would hinder the brand’s ability to attract and retain bettors, with the black market once again benefitting.

Click here to find out whether Kaltenieks believes the Gambling Regulation Bill has the potential to impact the wider landscape of partnerships and sponsorship deals in Irish horse racing and sports.

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