Sports Betting

NFL Announce New Deal with USA Betting Companies

February 22, 2024 William Mcmaster

The National Football League Nfl Professional American Football

The National Football League has agreed to deals with three huge USA gambling companies to become sports betting partners. The league announced that it has signed three-year deals with Caesars Entertainment, DraftKings, and FanDuel, allowing the companies access to all NFL trademarks.

They will also be able to create their betting content and integrate them into media properties such as the NFL website and official app. The announcement stated that the partnership deal will run for three years, with the NFL holding the option to add a couple of one-year extensions.

According to Renie Anderson, the chief revenue officer and executive vice president of NFL Partnerships, “As the sports betting landscape has continued to evolve in the United States, we have been thoughtful with our strategy and are excited to announce three partners who share the NFL’s vision and goals. Working closely with Caesars, DraftKings, and FanDuel, we will provide fans new and different ways of interacting and engaging with the sport they love.”

Details of the Newly Announced Deal

The fine print of the deal was not announced, but it is understood that the three companies involved will have exclusive access to the use of the NFL logo and team insignia on their websites. The NFL has also announced that it will permit gambling advertisements to be broadcast this season.

Apart from the common terms that each company will have shared access to, the three companies involved in the new deal will have individual rights allotted to them exclusively. Caesars will be allowed to create activations at two major 2022 NFL events set to be held in Las Vegas – the Pro Bowl and the Draft.

FanDuel will get access to video footage as well as work with the league on pregame integration on the seven regular-season games that will be shown on the NFL Network in 2021. DraftKings will see its rights as the NFL’s official daily fantasy partner renewed.

Excitement Around the New Deal

The CEOs of FanDuel, Caesars, and DraftKings all offered glowing optimism about the future of the deal their respective companies have reached with the NFL. “Football season will be more exciting than ever now that fans can enjoy an enhanced experience at our casinos, in our sportsbooks, and online,” Tom Reeg, Caesars CEO said.

His counterpart at FanDuel, Matt King, speaking in reference to DraftKings’ Super Bowl advert, said “On Super Bowl Sunday, we got a glimpse at how powerful the combination of the NFL’s excitement and our platform can be in delivering an enhanced fan experience.”

Jason Robins also offered similar views. The CEO, chairman, and co-founder of DraftKings stated that “The way fans consume sports years from now will look drastically different, and it will be due in part to forward-thinking collaborations like our expanded relationship with the NFL.”

The league has also announced that it has plans to partner with operators at the low-tier level soon. The new deal includes a massive $1 billion in earnings for the NFL if the terms are completed, and it is certainly a big deal for all the parties involved. But it is perhaps an even bigger deal for football fans and sports bettors who are now seeing two of their favorite organizations combine on such massive scales.

Sources:

https://www.sportspromedia.com/news/nfl-sports-betting-sponsor-draftkings-fanduel-caesars-fox-bet
https://abcnews.go.com/amp/Sports/wireStory/nfl-inks-sports-bet-deals-caesars-fanduel-draftkings-77107749

Resident From IN & PA Can Get a $100 Free Bet on March Madness!

February 22, 2024 William Mcmaster

The 2021 March Madness has been unlike any other we’ve seen before, with all games played in the same state. Many features of the world-famous college basketball knockout tournament remain consistent, however. The usual suspects have blasted through the rounds towards the later stages, and followers haven’t been short on upsets either.

One of the biggest shock results in recent times came in the previous round of March Madness when UCLA rallied to knock number one ranked Michigan out of the running. Very few pundits predicted that one, but it likely wouldn’t be the last surprise result.

March Madness is down to the final four teams who battle it out on Saturday for a place in Monday’s final. Houston Cougars meet Baylor Bears, then UCLA Bruins aim to continue the fairytale against Gonzaga Bulldog.

Are you planning on placing a bet on the upcoming matches? And do you feel like you haven’t witnessed enough madness yet? Then we’ve got a special treat for you, only for our sports fans of CompareCasino based in either Pennsylvania or Indiana:

Online sports betting giant Unibet offers customers the chance to earn a stunning $100 free bet before the final.

Here’s how you get it done:

Open an account at Unibet through the exclusive link on this page.
Place a bet of $20 or more on any of the semi-finals.
And here comes the kicker: if there is a dunk scored in either match, you will bag a $100 free bet. Your free bet will be rewarded regardless of who wins, as long as the game has at least one dunk scored.

This promotion gives backers an extra chance to celebrate. One cheer for your winning bet and one for the dunk that nails you the $100 free bet.

Terms and conditions apply.

BetMGM Exclusive Sports Experience

February 22, 2024 William Mcmaster

Buffalo Wild Wings signed a contract with BetMGM in 2019—the contract is one of strategic partnership—thus creating a first-time alliance between a digital gaming company and a national sports bar.

Ever since the contract was signed and an announcement of the contract-signing had been made, over 500,000 users have been taking part in Buffalo Wild Wings and BetMGM free-to-play games.

News reaching out to us from our sources says that fans of sports will now be able to gain access to a special sports betting experience when they use the BetMGM app to place their bets on BWW sports bars in Iowa, Tennessee, Indiana, West Virginia, Colorado and New Jersey.

Sports Bars Meet Sports Betting

For starters in the gambling industry, geolocation technology is what the BetMGM app makes use of to provide custom promotions and types of bets for punters or guests that physically appear in Buffalo Wild Wings in some specific markets.

Rita Patel, the Chief Marketing Officer (CMO) at Buffalo Wild Wings, had this to say:

“Thanks to our groundbreaking collaboration with BetMGM, fans betting on sports at Buffalo Wild Wings will now earn even more money on those bets. We look forward to expanding our presence in the space as sports betting continues to evolve across the country and leveraging our relationship with BetMGM in new ways to enhance the experience at our sports bars.”

Exclusive In-Bar Sports Betting Channel

There has also been the launch of an in-bar channel known as OT Odds by Buffalo Wild Wings but it is powered by BetMGM.

The network will only be available on specific screens in all sports bars that are in participation throughout the nation, and sports betting content such as live game odds, betting advice, and fantasy will be delivered through the network.

Customers can now view curated boosts, bets, and parlays that are now new and improved and called exclusive Blazin’ Bets offered within the BetMGM app on their devices as long as mobile sports betting is allowed in that country.

Ground-breaking collaboration

BetMGM’s Chief Revenue Officer, Matt Prevost, stated that, “Our collaboration with Buffalo Wild Wings is ground-breaking, allowing BetMGM to completely reimagine how sports fans enjoy themselves. A prominent example of what we’re able to activate in this outstanding partnership is the incorporation of geolocation technology to give bettors a personalized experience in a Buffalo Wild Wings venue.”

A free-to-play Picks and Props game designed by Buffalo Wild Wings that can be found on the BWW mobile app has been given a new and upgraded design. Included in the app is the upgrade for parlay-style games, which have new elements from MGM added to them.

Hall of Fame

Bettors can use BetMGM odds to make picks every single day in any state, as long as free-to-play games are legally allowed in those states and major prizes are awarded to bettors every month. They will choose some winners and then be inducted into the BWW Hall of Fame, which was only recently created.

References

https://floridanewstimes.com/betmgm-and-buffalo-wild-wings-launch-exclusive-sports-betting-experience/172907/
https://finance.yahoo.com/news/buffalo-wild-wings-betmgm-launch-150000653.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAIqNskY6ShhPyRFdNUeJux-u6A3ckl_zJ4BE2r9Cx36T-qd0Lgx9rWmwhW2sKZmOgFXjgcVh6REXMR5Qt2hdwObOcGZVnwZ_9k8z-dLccLLEriF16NeKW1S4Y2j1p0YRrZgKaJuJXxQPzLOJgCmu9E-jojj8hj9dAHX-1YU11CCu
https://sbcamericas.com/2021/03/12/betmgm-and-buffalo-wild-wings-launch-exclusive-sports-betting-experience/

How Gambling Can Improve Tax Revenues India

February 22, 2024 William Mcmaster

Gambling has been part and parcel of India’s culture for a long time now. Whether it’s wagering on online betting or playing card games to appease the goddess of wealth or playing casino games, gambling isn’t a new trend in India – it has existed since time immemorial. The citizens enjoy the big odds on cricket and can’t just help but stake to try their luck.

It doesn’t matter whether it’s cricket, a game of skill or game of chance, online poker, or football stakes, Indians have made gambling part and parcel of their lives and it seems like they won’t stop it any time soon – the irony is that betting is mostly unregulated in India.

In other words, there are no steadfast laws or a comprehensive framework to guide Indian’s online gambling industry at the moment. Most of the gambling is underground, even though the authorities don’t know about it.

While this is massive for Indian punters adding something to their kitties, it’s a concern for the Indian government who hasn’t started imposing taxes in the gambling industry. And this is why this question – how can imposing tax help India improve their revenues?

There’s Incredible Tax Potential

According to a report by the KPMG on sports betting in India, the sports betting industry in India was worth $130 billion and could rise even more. In other reports, it is said that India’s turnover from gambling was about 7.5 percent of the country’s GDP.

So what could this mean for India if the government decided to get serious on taxation? For example, a 30 percent tax on all betting winnings could result in lakhs of ten million rupees that the government could use to better the country.

Additionally, making gambling legal and taxing the gambling industry means that you’ll be taking people from what’s perceived as illegal and now letting them indulge in it freely while also protecting and respecting their interests. What’s more, doing this would curb bad practices, such as money laundering, black money, and reduce illegal activities in sports.

The best of all is that legalizing this will increase sporting events viewership, increasing its overall revenue. It will bring a ripple effect that will benefit many interested parties like the broadcasters, viewers, etc.

What Next?

Sadly, there are still no taxation laws to regulate India’s gambling, making it a flat 31.2 percent, inclusive of cess. Without a proper legal framework to regulate gambling in India, the Indish government can never realize the gambling potential. Maybe, India should emulate what countries, such as the United States, the United Kingdom, Italy, Australia, etc., where gambling taxation helps improve their GDP.

Developing an improved legal framework to guide online gambling has brought massive gains to different governments regarding tax revenues. India is probably halfway through this process, courtesy of KYC stringent measures.

Gambling Revenue Sees Record Growth in Illinois

February 22, 2024 William Mcmaster

While there’s been an increase in gambling revenue in the United States, Illinois hit a record $581.5 million in January 2021.

Gambling operators managed to bag $49.4 million in revenue for an approximate 8.5 percent hold. Illinois was able to collect up to $7.2 million in taxes, according to a report.

The state has been fairing on we’ll, recording $481.7 in stakes up from December and $23.9 million in proceeds.

Illinois is now the fourth state to pass the $500 million in bets in the same month. The state is now holding the fourth spot in state handle after Pennsylvania, Nevada, and New Jersey.

Pennsylvania finished with $615.3 in bets, securing the third spot. Nevada came second with $4.3 billion, while New Jersey was the new king with a whopping $6 billion in their handle.

Betting operators in Illinois reported an 8.24 percent win rate, generating nearly $48 million in proceeds more than December’s $23.9 million. Illinois’ state coffers managed to collect up to $7.2 million while Cook county only managed $480,000.

Illinois was the last state to avail its revenue, breaking a record in the national sports betting industry. Among the other 18 states, more than $4.36 billion stakes in January.

Betting operators bagged up to $361 million in returns to start things in 2021. The Illinois state government managed to gather more than $54.3 million in levies from the proceeds.

DraftKings is the Better Mobile Option for Punters in Illinois

Sure, Barstool will be launching its first mobile sportsbook in Illinois since last September, but Draftkings is still preferred by the majority of punters who use their smartphones to bet.

DraftKings came top with $244.2 million in bets – which is equivalent to 42 percent. FanDuel and BetRivers came close with 30 and 19 percent in state handle.

And while DraftKings is still the most preferred for mobile betting, Fanuel generated more revenue – $16.9 million against $16.4 million for DraftKings.

William Hill and PointsBet didn’t do badly either – William Hill with two percent in-state handle while PointsBet with seven percent. This was a 26 percent increase in handle compared to December. On the other hand, William Hill was happy to maintain a double-digit percentage, recording $8.8 in accepted stakes.

FanDuel Secure the Monthly Revenue Top Honors

The largest mobile operators contributed most of the revenues collected. FanDuel overtook DraftKings to clinch the top spot with $16.7, DraftKings managing to secure $16.4.

This time around, BetRivers hit eight figures, generating more than $10.1 million. PointsBet also had a good month, generating approximately $4.2 million in proceeds. William might not have done poorly either – with $500,000 in earnings; football and basketball contributing the largest portion of that revenue – 97 percent.

Parlays managed to secure about $19 million in revenue from the $110 million staked by punters. This translates to a 17.29 percent win rate for the company and twice the all-inclusive percentage. Fanuel collected $9.2 million of the total in $50.3 wagered.

Basketball and football are the most popular sports punters are staking heavily, with basketball generating $14.3 million and $11.2 million in revenue, respectively. Besides, the two categories – basketball and football emerged top for handle – basketball generating $230 while football $158.3 million.

Betting Software Firm, Flutter Entertainment Sees Impressive 2020 Growth

February 22, 2024 William Mcmaster

Flutter Entertainment, owners of Paddy Power, Betfair, and PokerStars, is the world’s largest online betting group. In 2020, they reported an increase in total group revenue of 23% to $6.27 billion. This represents an increase in earnings before interest, tax, depreciation, and amortization (EBITDA) of $1.68 billion.

This is higher than the $1.54 billion – $1.62 billion predicted in November. The figures reported do not include an EBITDA loss of $205 million in the USA. This is a growing market for sports betting expected to double its previously estimated size. In May, the company merged with The Stars Group (TSG) and increased its holding in its US FanDuel brand in November.

Gaming Market Leaders

Flutter Entertainment continued to lead the US market with 40% sports betting and 20% market shares in the 4th quarter (Q4). The US market is expected to be worth more than $17 billion by 2025, resulting from an increase in estimated sportsbook value. The number of states with legalized gambling is expected to increase too.

The company reported a 106% increase in revenue in 2020. This strong financial performance is impressive considering the problems caused by the COVID-19 pandemic. Flutter Entertainment’s revenue in Australia grew by 59% to about $1.2 billion; there was an adjusted EBITDA growth of 98%. Australia was the market least affected by the COVID-19 pandemic. In Britain, the market grew by 8%.

According to the company CEO, Peter Jackson, the US market experienced the most growth in 2020. In his words, “Nowhere has our growth been more evident than in the US, where we have consolidated our number one position in this crucial market, with customer economics that continues to exceed our expectations. “

He went on to say, that “We finished the year as the first US online operator to reach over $1.1 billion in gross gaming revenue. While the global outlook remains uncertain, our momentum remains strong, and we look forward to the future with confidence”.

That is certainly something to look forward to for their customers.

Revenue in 2020

In the United States, revenue increased by a whopping 81% to $839 million. This increase resulted from the TSG merger and the increase in the number of states where online betting is legal over the last year. In 2020, Flutter Entertainment launched the FanDual online sportsbook in an additional four (4) states.

These states are Colorado, Illinois, Iowa, and Tennessee. Online gaming was also launched in Pennsylvania. Sports revenue increased by 42%, resulting from the sportsbook growth of 101% and combined daily fantasy sports and racing growth of 15%. According to Flutter Entertainment, adjusted EBITDA in its PPB Retail division decreased to $2.4 million from $91.7 million in 2019. This decrease came after the disruptions in its retail estates as a result of COVID-19 restrictions.

It is reported that the division’s shops were closed for about 38% of 2020, leading to a 36% decline in revenue. The PPB Retail division includes Paddy Power Shops. According to the company, they kept on paying staff even when the shops were closed, and they have promised to continue that for as long as the shops remain closed.

At Flutter entertainment’s PPB online division, revenue increased by about 8% to $1.32 billion. This increase resulted from a 6% monthly growth in average monthly players to 1.4 million; this increase was more evident in the second half of the year. The increase is most likely due to the closure of PPB retail shops resulting from the COVID-19 pandemic. In the United Kingdom and Ireland, the company expects an EBITDA loss of £9 million each month that retail estates in these countries remain closed.

The year 2021 has seen Flutter entertainment experience a strong start. The company’s group revenue in the first seven (7) weeks of 2021 increased by 36% year on year, and the increase has been listed as being due to a growth in player volume in all the company’s divisions. During the recent Super Bowl, the company gained 350,000 new sportsbook and gaming customers.

Contextually, the record-breaking number is greater than the operator’s entire 2019 customer acquisition numbers. Apart from that, sports betting operations experienced a 25% year-on-year constant currency rise. There was also a gaming revenue rise of 32% year on year to $2.8 billion. All in all, it’s looking pretty rosy for Flutter Entertainment and their gaming customers.