By Cole Rush   Wed, Nov 13, 2024

Sports betting has become an extremely high-tech business in recent years, and sportsbooks are working harder than ever to supply bettors with real-time pricing and in-game wagers. But the data still reveals errors that could be improved upon, according to Bettormetrics.

Every second a sports betting line is suspended, a sportsbook risks losing potential revenue and customer loyalty. It’s a simple equation: fewer and shorter suspensions lead to more betting activity and, in turn, money. 

The numbers from Bettormetrics paint a picture of the sheer volume of money left on the table. Four major sportsbooks missed out on $160.7 million of potential revenue in the 2023-24 NFL season. NBA suspensions have historically led to books missing out on hundreds of millions in handle. 

Bettormetrics CEO Robert Urwin and Chief Revenue Officer Sabin Brooks bring their expertise to sportsbooks and provide actionable data to limit suspension times and dial in pricing strategies that keep operators in the black for as long as possible. 

“Having worked in the back-end services of the sportsbook trading floor, I know that there’s a massive complexity of data and a lot of bookmakers have pricing and suspension issues,” Urwin told GGB. 

Urwin founded Bettormetrics with other partners to address these issues. 

“We can measure how sportsbooks suspend around certain events like touchdowns, baskets, goals, and so on,” he said. “Then you can roll up the data into big aggregate views to see which sportsbooks suspend longer than others, for example.”

The issues are multifaceted, but long suspension times and anomalous events take the cake, resulting in the biggest potential losses.  

“Even the biggest sportsbooks do some very strange things around certain periods in each and every game,” Urwin said. “When you look at the data at a granular level, it shows a very surprising picture. There are endemic and systemic issues everywhere.”

Brooks put it into simple terms: “We identify efficient and deficient trading practices, and in theory, help sportsbooks optimize every second of any game that they’re trading. It’s not easy, but if you follow the data, you can improve margins and make more money. That’s our end goal with any customer.”

The journey to unlocking more handle and profits starts with awareness. “You’ve got to be aware that you even have these differences,” Urwin said. “There’s almost an arrogance or stubbornness with some operators because they have excellent trading teams, but they don’t realize they can miss anomalous events to impactful suspensions.”

That awareness starts as a panoramic view, then zooms into the intricacies of each market. A minutes-long suspension mid-game can obviously be a big loss, but smaller increments add up, too. 

“Ten, 30, 40 seconds matter and can cost customers and revenue,” Brooks said. “You’re missing out on high turnover during that time.”

The total dollar amounts are staggering, representing millions or even billions of lost potential handle and revenue. Money is the language all sportsbooks speak, but there’s another hidden cost that can be just as crucial to a bookmaker’s well-being: customer loyalty. 

Imagine wanting to bet on a particular in-game market at your favorite sportsbook and finding it suspended. Wait a few minutes, and it’s still not available. The experience is frustrating. 

“Bettors will lose interest and move on,” Urwin said. “Most bettors have five accounts with five different companies. If they’re not getting the service they want from one, they’ll move to another.”

It’s all fine and dandy in theory—collect the data, uncover the issues, and implement fixes. In practice, sportsbooks require an extra push. To get a sportsbook on board—especially a well-known operator—takes a lot of convincing. 

“Ultimately, who wants to have the quality of their work audited?” said Brooks. “It can take much more convincing than you expect at first.”

On the other hand, Urwin and Brooks noted that progressive sportsbooks looking to hustle and carve out a name in saturated markets are more than willing to look inward and leverage Bettormetrics to fix any glaring suspension and pricing issues. 

When sportsbooks take a vested interest in lowering suspension frequency and instances, the results are palpable. 

“One huge European operator was suspending in certain scenarios for very long periods of time,” Urwin said. “They first thought, ‘This is impossible.’ Then we were able to shine a torch on the issues, pick out the gaps in performance, and identify ways to fix it.”

Bettormetrics targets other areas, too. It’s not just suspensions and pricing. The company’s solutions can identify inconsistencies in margins on a two-way bet, for example, to flag when one book is out of step with the market. Additionally, the business is working with AI and machine learning in tandem with the human touch to fuel better and faster gathering of data. 

Brooks asserted Bettormetrics is in the early stages of its capabilities as a business. “We’ve only just started driving more accountability and improvements in the industry that have been absent for far too long.”

By Michael Pollock   Tue, Nov 12, 2024

The regulated gaming industry is engrossed in debate regarding several offerings that exist in gray-area limbo, with sweepstakes and skill games chief among them. Some believe they should be licensed and brought under the umbrella of regulation, whereas others such as Michael Pollock (l.) argue that this devalues the licensure process and industry integrity overall.

Perched on a balcony in “Romeo and Juliet,” the heroine of that Shakespearean tragedy utters words that have resonated through the centuries: “What’s in a name? That which we call a rose
By any other name would smell as sweet.” 

Juliet goes on to tell the rapt audience: “When it comes to unregulated gaming, why do we use such anodyne words as ‘skill’ or ‘sweepstakes’ to describe games that are, at their core, a form of gambling, albeit an unregulated, unlicensed form?”

I confess that Juliet never mouthed that last part, and Shakespeare’s quill never put them on parchment. Yet, while I fail at my longstanding quest to bring the Bard into the 21st century, I stand by my position – and that of my colleagues at Spectrum Gaming Group – that all stakeholders in gaming have grouped highly questionable activities into categories that do not adequately or accurately describe their core business model. Those businesses that encourage players to risk real money in the hope of winning even more money are a form of gambling. Full stop.

Speaking before a powerful audience of elected and appointed law-enforcement officials at a recent meeting of the Attorney General Alliance, I began with a piece of advice: When describing “skill” slot machines, be sure to put quotation marks around “skill.” If you are verbalizing the word, use your fingers to indicate quotation marks.

Why? Those descriptive words are already in the industry’s lexicon, reflecting how those of us who focus on these issues have come to recognize such games. While the word “skill” may reflect how such slot machines are known, it does not reflect what they are. Quite similarly, in the digital world, we categorize unregulated, unlicensed sites under the broad heading of “sweepstakes” despite the reality that, when some such sites ask visitors to part with money to take a chance at winning more, they are in the gambling business, and are not in the same category as Publishers Clearing House, McDonald’s or other quite legitimate sweepstakes providers.

So, we raise our air quotes in a decidedly quixotic quest to help stakeholders distinguish between the legitimate operations and their less-than-legitimate brethren. 

Such efforts are no match for the power that the words already possess.  When stakeholders such as legislators, regulators, retailers or the media hear a word like “skill” or “sweepstakes,” they do not assume a questionable, underlying activity. Rather, they assume such activities are somewhat innocuous, and that assumption puts other stakeholders such as licensed gaming operators as well as their investors and suppliers at an immediate disadvantage. That latter group must make a case that is not readily apparent, but poses far greater risks.

The growing presence of unregulated, unlicensed, untested games in the physical and digital world presents a very real threat to those who have hitherto played by the rules, who have staked significant capital on the assumption that lawmakers had already determined the parameters as to the number and locations of licenses.

That threat – the result of devalued licensure – leads to less capital investment in physical facilities, since the returns on such investments would be lower in the face of less certainty and greater competition. Institutional investors in particular would also raise questions as to the potential returns on their dollars.

Such uncertainty leads to fewer planned hires, as well as reductions in planned purchases of goods and services from suppliers, including local small businesses. It also inevitably reduces the fiscal benefits of gaming, starting with lower taxes on gross gaming revenue, as well as reductions in sales taxes, and taxes related to employment.

The easy answer for policymakers who must wrestle with the challenges of an installed base of such machines is simply to license those machines and their owners, generating some increase in GGR taxes.

In this instance, the easiest response is arguably the worst response. Gaming licensure over the past half century – starting with the adoption of the New Jersey Casino Control Act in 1977 – rests on the core principle that a gaming license is a privilege granted to those who have demonstrated they possess the requisite good character, honesty and integrity. 

Adherence to that principle in state after state has led to public confidence in the integrity of licensed gaming. Bad actors – particularly those who previously operated outside the boundaries of licensure – have not been welcome. In other words, licensure must precede operations, not follow it.

Beyond undermining public confidence in licensed gaming, legislators and regulators must consider another longstanding principle: Elected and appointed officials in each state bear the responsibility of establishing and carrying out their state’s respective gaming policies.

Such policies could include urban redevelopment, employment growth, tourism expansion and a range of other laudable goals. Licensing those who were previously unlicensed simply because they are already in place effectively means that policymakers have abdicated their central role. They would no longer be setting the gaming policy in their state. 

As Shakespeare might have noted, lawmakers need to look beyond words such as “sweepstakes” and “skill” as they grapple with this tangled and difficult issue. The proper response is to make the commitment needed to protect the public interest and maintain the integrity of gaming.

Government agencies such as the Michigan Gaming Control Board have already begun the process of issuing cease-and-desist orders on “sweepstakes” operators that operate outside the bounds of legal, authorized gaming. It can be done, and the will can be summoned.

To quote Shakespeare once more: “The game’s afoot.” All that is required is that the games meet proven standards of integrity.

  Thu, Nov 7, 2024

The years-long quest to legalize online sports betting in Missouri has been completed. But state voters sure made it interesting, with less than 5,000 votes ultimately deciding Amendment 2’s fate.

On election night, Missouri became the first – and likely only – state to approve a statewide expansion of gaming in 2024. And it took the electorate, not the legislature, to get the job done.

Missouri voters narrowly passed Amendment 2, 50.1 percent-50 percent. In terms of votes, there were 1,468,306 for, and 1,463,940 against, for a margin of 4,366 votes, according to the secretary of state’s website. That margin was considerably tighter than what many consider the closest legal wagering initiative in history, when Colorado voters legalized sports betting by 44,033 votes in 2019.

The new law allows for each land-based casino and seven professional sports teams to apply for a digital betting license. Two stand-alone digital licenses will also be available.

“This is a huge victory for Missouri fans and for the diverse coalition that worked together to pass Amendment 2,” Sports Betting Alliance (SBA) lobbyist Jeremy Kudon said via email. “Amendment 2 won even despite a historic $14 million spent in opposition – the most ever spent against a Missouri initiative.  We are grateful to the Missouri professional sports teams who helped lead this effort and for the broad coalition that made this possible.”

BetMGM, DraftKings, Fanatics Sportsbook and FanDuel comprise the SBA.

The initiative pitted the state’s professional sports teams, DraftKings and FanDuel against land-based casinos. Caesars, which has three locations in Missouri, mounted an opposition campaign because the initiative language appeared to limit casino companies to one platform per company vs. per location. But last week, the Missouri Gaming Commission (MGC) confirmed with iGB that it would interpret the proposal to mean each brick-and-mortar location could get a license.

In total, up to 20 licenses will be available.

Proponents and opponents of Amendment 2 mounted the richest campaigns in Missouri history. Combined, nearly $55 million was raised. Caesars carried the mantle for land-based casinos in opposition, but pulled $1 million worth of scheduled television advertising in mid-October, likely after getting the MGC interpretation.

The battle to legalize in Missouri has been long and arduous. It ultimately took action from the state’s professional sports teams to get the job done. Voicing his frustration at the years-long legislative logjam, St Louis Cardinals CEO Bill DeWitt Jr earlier this year spearheaded an effort by the state’s professional sports teams to get an initiative on the ballot.

The win was the first for digital operators in several years, after losing or pulling back on initiative attempts in California and Florida in 2022.

  Thu, Nov 7, 2024

What started in Richmond has ended in Petersburg. Local voters made the most of their opportunity this past week to approve a commercial casino development in their town after Richmond voters rejected it twice.

On Nov. 5, voters in Petersburg, Va. gave their blessing to the Cordish Companies to build a brick-and-mortar casino in their town. The opportunity for Petersburg residents to be heard exists because Richmond residents twice voted against building a casino.

With all precincts reporting Tuesday night, the proposal was approved 81.5 percent-18.5 percent. A total of 10,265 votes were cast in favor as opposed to 2,325 against, according to the secretary of state’s office. Cordish has plans and is licensed to build a Live! Casino in the city.

In 2020, state lawmakers made digital sports betting legal. At the same time, they named five locations in the state that could build physical casinos. But each location required local approval before a license could be issued. So far, casinos in Bristol (Hard Rock), Danville (Caesars) and Portsmouth (Rivers) have opened. Boyd Gaming and the Pamunkey tribe late last week broke ground on a $750 million casino in Norfolk, which is scheduled to open in late 2027.

Richmond was the fifth city approved. But voters in 2021 there rejected the referendum. Then two years later, 61 percent of voters again said no. After the second defeat, lawmakers in Petersburg, a small central Virginia town, decided they wanted in on the action.

In July, the Petersburg City Council and the Virginia Lottery approved the request for a referendum, landing the issue on the ballot. Cordish is planning a $597 million casino, hotel and entertainment complex on 92 acres of land in south Petersburg. The property will be built in two phases.

  Thu, Nov 7, 2024

Lake of the Ozarks casino denied by Missouri voters, Caesars Virginia sets opening date, Sanborn requests state help in forced casino sale and more.

Missouri Voters Reject Lake of the Ozarks Casino

The number of land-based casinos in Missouri will remain at 13, after state voters rejected Amendment 5 on Nov. 5. If passed, the amendment would have cleared the way for a casino on the Osage River near the Bagnell Dam at the Lake of the Ozarks. But the measure was rejected by a 52 percent-48 percent margin, per the Missouri secretary of state office.

The main proponents of the amendment were Bally’s Corp. and the Osage River Gaming and Convention Committee (OGCC). The duo had long proposed a casino for the site and submitted fresh renderings in late September. Bally’s already operates a casino in Kansas City. If Amendment 5 had been approved, other bidders would have also had the opportunity to bid for the license.

Amendment 5’s defeat is a huge victory for the Osage Nation, which is vying for its own casino nearby. The tribe had been a driving factor in opposing both the ballot measure and the previous legislation. Its $60 million development in Miller County would be the first tribal casino in the state.

Given that it is a Class II venue, it does not need state approval, only federal. Stakeholders are still waiting for that approval with no timetable, according to 500 Nations, but the removal of the OGCC proposal now leaves it as the only casino project in the area. The Osage currently operate seven casinos in Oklahoma.

Caesars Virginia to Open Dec. 12

Caesars Virginia, the permanent casino in Danville, Va. will host its grand opening Dec. 12. The 587,000-square-foot property, which is a partnership between Caesars and the Eastern Band of Cherokee Indians, will feature approximately 1,500 slots, 79 traditional tables and 48 electronic table games, among other amenities.

“We have worked diligently on creating a world-class resort that will offer all the luxurious and modern amenities expected from Caesars that will also serve as an economic driver for Danville and the surrounding region through employment and tourism,” Barron Fuller, regional president for Caesars, said in a statement, per WFMY. “We’re so proud of Caesars Virginia and look forward to welcoming guests on Dec. 12.”

Sanborn Seeks Assurance that Casino Buyer Won’t Inherit his Legal Problems

Andy Sanborn, the former New Hampshire state Senator who faces charges related to pandemic aid fraud, has asked Merrimack County Superior Court for help in selling Concord Casino, the property Sanborn was forced to sell last year but has been unable to, in part due to his potential legal troubles.

Sanborn and his attorneys are seeking an assurance from the state that his prospective buyer won’t inherit his legal liability. Under state law, any person or business convicted of a felony may not operate a gaming facility for 10 years. The prospective buyer will not close the deal without such assurances, Sanborn’s attorneys said in the Nov. 5 filing, per the New Hampshire Business Review.

A key argument in this saga is the revenue that the casino generates—in New Hampshire, portions of gaming revenue are directed to charitable organizations and the state. The longer that the casino sits unused, Sanborn’s team has argued, the longer that those parties will have to wait to receive funds. Under a previous extension, there are only a few weeks left to close a deal until the property’s license is suspended for two years.

Delaware Park to Build Slot Patio and Return to 24/7 Tables

Delaware Park Casino has announced plans to build a 10,000-square-foot outdoor “slot patio” area with 250 slots. The project is expected to open next spring, and officials are calling it the largest outdoor gaming space in Delaware. Smoking will be permitted in the space.

“Post-COVID, one of the things we’ve learned is that people like being outdoors, they like having their space, they like fresh air, and a lot of people are wearing masks,” Delaware Park President Terry Glebocki told the Delaware News Journal. “This gives an option to people looking for that fresh air experience. Because this patio has so much open air, it’s considered an outdoor space.”

In addition to the patio, the property will also reinstate 24/7 table games on Nov. 8 for the first time since the onset of the pandemic. Round-the-clock slots were reinstated back in January.

NGC Approves $3 Million Tax Refund for Dotty’s Operator

The Nevada Gaming Commission Nov. 4 voted unanimously to approve a  $3.1 million tax refund to Nevada Restaurant Services Inc., operators of dozens of gaming establishments under the Dotty’s and Bourbon Street Sports brands. The company had originally attempted to claim both the principal sum and $222,744 in interest but the commission refused, saying NSRI took too long to file the claim.

Ultimately NSRI agreed to waive the interest but later discovered that it was also entitled to another $1.8 million in refunds, which it will seek in the near future. The company overpaid its taxes by not deducting certain promotional costs.

Full House Releases Updated Plans for Proposed New Haven Casino

Full House Resorts, which is seeking to relocate its Rising Star Casino Resort from Rising Sun, Ind. to New Haven, has released new renderings and details for the project. According to a new website dedicated to the development, the property would encompass 90 acres and would be built in two phases.

The first phase would include a 90,000-square-foot casino with over 1,400 slots, 50 tables, a sportsbook and several other amenities. Phase two would include a 200-room hotel, an entertainment venue and more. In order for the $500 million project to materialize, it must first be approved by the state’s general assembly.

Wynn Announces Plans to Renovate Encore Rooms

On the company’s third-quarter earnings call Nov. 4, officials from Wynn Resorts said that room renovations will be coming for the Encore, although costs and details about timelines were not given. The property, opened in 2008, saw previous renovations in 2010 and 2015. Overall, the project falls under a broader CapEx vision in Wynn’s Las Vegas portfolio.

“We expect total project CapEx for the remainder of ‘24 through ‘25 in Vegas to be in the neighborhood of $300 million,” Wynn CFO Julie Cameron-Doe said during the call, per the Las Vegas Review-Journal.

Accel Buys Controlling Interest in Two Route Operators for Approx. $40 Million

Accel Entertainment announced Nov. 5 that it has acquired 85 percent interest in two Louisiana-based route operators—Toucan Gaming and LSM Gaming—for approximately $40 million. The combined company will operate as Toucan Gaming and will be led by Stan Guidroz, current Toucan CEO and owner of the remaining 15 percent of ownership interests.

Accel CEO Andy Rubenstein said in a statement, “The acquisition of Toucan further expands Accel’s reach into the attractive southeastern U.S., market, where we believe there is significant untapped demand and aligns with our ongoing strategy to expand Accel’s presence both organically and through acquisitions. Toucan is a well-run and highly respected company that shares many of Accel’s values and entrepreneurial attributes. I am confident Toucan is the perfect partner for our company, and we look forward to helping Stan grow the brand.”

GSR Fined $250,000 for Incident with State Officer

The Grand Sierra Resort (GSR) in Reno, Nev. was fined $250,000 and ordered to implement new training protocols by the Nevada Gaming Commission Nov. 4 in relation to a 2023 incident in which an agent from the state’s Gaming Enforcement Division was denied access to a theater on the property.

After attempting to bypass the theater’s metal detector, the agent was stopped by security and was told to relinquish his weapon before entering. Licensed operators must always give state agents immediate access to all parts of a property, and violations relating to authority are relatively rare. The GSR was also guilty of a similar violation in early 2021, and was told to implement better training at that time.

  Thu, Nov 7, 2024

Damning review of Netherlands Remote Gambling Act, Finland opens horse racing to private operators, German regulator claims state treaty as legislative win and more.

Netherlands Gambling Act Review Suggests More Pain for Licensees

The Dutch government’s review of the Netherlands Remote Gambling Act concluded the legislation is failing to achieve its aims of creating a sustainable legal market, raising the prospect of further controls on the industry.

In particular the review, released Nov. 5, concluded responsible gambling measures were simply not up to scratch. The concept of a “duty of care” by licensees towards their players was unfeasible, it said, as operators were motivated to keep players spending and not restrict their play.

“Placing the care for online gambling players in the hands of parties that offer an addictive product and have to compete with each other for market share, which gives them a financial incentive to retain players for as long as possible, has been naïve,” the review said.

Channelization to the legal market was also hindered by a lack of effective enforcement measures to stamp out illegal gambling, the report continued. New tactics that target offshore operators would create space to tighten controls on licensees without losing players to the black market, it suggested.

Ultimately it recommended a single update of regulations, rather than multiple limited updates. Secretary of State for Legal Protection Teun Struycken is reportedly assessing whether this can be done through ministerial orders and policy changes rather than legislation.

Finland Submits Updated Draft Gambling Legislation for EC Approval

Finland’s draft regulations for a competitive online gambling market are to be assessed by the European Commission (EC) after updates expanded the range of legal products.

The biggest change sees horse race betting made available to commercial operators. This previously remained a monopoly product operated by Veikkaus in earlier drafts. Marketing restrictions have been eased somewhat, allowing for offline activations.

Despite reports suggesting the market opening – scheduled for Jan. 1, 2026 – may be pushed forward the EC draft retained this launch date.

Finnish Legal Advisor Antti Koivula described the updated draft as “more business-friendly” than the government’s initial plans.

However it does come with an increase in costs, he warned. “The GGR-based annual supervision fee has been notably increased,” Koivula explained. “It effectively creates an additional tax burden that can exceed 2 percent at certain GGR levels.”

Portuguese Association Steps Up Illegal Market Fight

The Portuguese Online Gambling and Betting Association (APAJO) has filed criminal complaints against a number of online influencers and gaming operators as it steps up efforts to fend off competition from unlicensed gambling.

The five influencers to feel APAJO’s wrath are Numeiro, Cláudia Nayara, ritinhayoutuber, GODMOTA and Bruno Savate. The association has also filed complaints against seven operators; Betify, Monro, Weiss, BC.Game, Stake, Wolfi and Starda and Vem Bet.

The fight against illegal gambling goes beyond the industry, APAJO President Ricardo Domingues said. Media businesses have an equally important role in ensuring unlicensed brands are not promoted to players.

“It is, therefore, very critical that the Portuguese media are clear and accurate with the information provided about the sector, in order to prevent thousands of people from being continually exposed to the risks of betting on unlicensed sites,” Domingues said.

German Re-regulation a “Success Story,” Claims Regulator

Germany’s gambling regulator the Gemeinsame Glücksspielbehörde der Länder (GGL) believes the country’s 2021 State Treaty on Gambling has sparked a successful transformation of the market.

Speaking at the Gaming in Germany conference in Berlin Nov. 5, GGL Chair Ronald Benter told delegates the regulator aimed to ensure “equal and fair conditions of competition” among all licensees while ensuring players were protected. This “sustainably regulated, stable market” meant the State Treaty of Gambling was successfully implemented, he claimed.

The industry is arguing otherwise. Licensees claim restrictions on product and high tax rates mean they cannot compete with unlicensed operators. Industry-funded surveys suggest that almost half of all gambling activity is carried out illegally.

GGL estimates, on the other hand, say Germany’s black market for gambling makes up less than 10 percent of the total market. However, Benter acknowledged the discrepancy, pledging to have different methodologies for sizing illegal gambling scientifically tested as part of an ongoing study on channelization.

He also talked up the importance of collaboration between the regulator and industry. “We are a reliable partner for all interest groups and are working intensively with the associations in order to find solutions together,” Benter said.

Benter was speaking ahead of an upcoming evaluation of the State Treaty, which is due to take place in the next two years. An interim review, released in July, was released around six months behind schedule. The full evaluation is already underway, through initial studies examining the effectiveness of player protection measures and the impact of industry advertising.

“This evaluation is intended to show whether the compromise that led to the political decision to introduce permits for online gambling with a high level of player protection in Germany is sustainable,” he explained. “We want to use facts and figures to make our decisions on a solid basis.”

Gambling Commission Survey Shows Marginal Increase in Young People Gambling

The U.K. Gambling Commission’s (UKGC) 2024 Young People and Gambling report revealed a marginal increase in the number of young people spending money on gambling over the past 12 months.

The report, released Nov. 7, showed 27 percent of young people—aged between 11 and 17 years old—gambled in some form. This represents a 1 percent increase from the 2023 edition of the report.

Most of these were legal for at least some that age range, such as arcade gaming machines including penny pushers and claw grab machines, played by 20 percent of the 3,869 11 to 17 year-olds surveyed.

A further 11 percent placed cash bets between friends and family, while 5 percent gambled for money playing cards with friends or family.

However, 15 percent of those surveyed admitted to gambling on products not regulated by the UKGC. For online there was only limited evidence of underage play. Just 2 percent of respondents said they had placed bets on websites or apps, and only 1 percent played casino games online, bet on esports or gambled on bingo.

This year’s report showed a “statistically significant” increase in young people scoring four or more on the DSM-IV-Multiple Response-Juvenile (DSM-IV-MR-J) psychometric assessment used to identify problem gambling in minors. Any score above four suggests a problem.

Nearly 1 in 10 young people (9 percent) who had gambled over the past year said the activity resulted in them telling lies to family members or friends. A similar number (8 percent) said this had prompted arguments.

A further 9 percent said spending their own money gambling made them feel uncomfortable around friends at least sometimes, while 11 percent had talked to parents about how gambling activities made them feel.

Broadcaster Martin Lewis Launches Gambling Harms Think Tank

The Money and Mental Health Policy Institute, a charity founded and chaired by Martin Lewis, a well-known U.K. broadcaster and financial campaigner, has launched a new initiative to bring together financial institutions in the fight against gambling harm.

The Gambling Harms Action Lab will work with current account providers to develop and implement new tools to address gambling harms.

It aims to bring together a group of five to seven financial services to explore and address the common challenges to improving support for their customers. It aims to develop new tools and interventions aimed at improving outcomes for customers in need of help. Building society Nationwide has become the first financial institution to join the research project.

Danish Online Revenue Fails to Stem Market Declines in September

Revenue from Denmark’s gambling market fell 2.8 percent to DKK533 million ($81 million) in September, with a strong performance from online casino canceled out by declines in sports betting and land-based gaming.

Online casino revenue was up 12.1 percent to DKK288 million, with slots making up the majority of this total. Sports betting, on the other hand, dropped 21.7 percent to DKK144 million, despite the country’s soccer league and the UEFA Champion’s League being in action.

The land-based sector also declined across all regulated products. Slot machine revenue fell 4.2 percent to DKK92 million, of which the majority (79.2 percent) came from gaming machines. Casinos’ contribution also declined, 9.4 percent to DKK29 million.

  Thu, Nov 7, 2024

Prediction markets have a field day over U.S. elections, Colorado approves new allocations for water projects, the latest round of revenue reports and more.

Prediction Markets Big Election Winners

On Nov. 5, U.S. voters decisively sent Donald Trump back to the White House for a second presidential term after four years away. But prediction markets, the derivatives exchanges that allowed the country to stake legal wagers on the election for the first time, were also huge winners.

Perhaps the most notable market was Kalshi, reports iGB, which secured approval in federal appeals court to list its political “yes/no” event contracts less than six weeks ago. Like all exchanges, Kalshi matches opposite contracts to each other and makes money on trading commissions.

As of the morning of Nov. 6, the platform had taken in more than $700 million in contracts for this election cycle. Nearly $430 million was staked on the presidential race.

On Oct. 15, the overall total was $15 million. On Nov. 3, it was $250 million.

Kalshi successfully argued in court twice that the contracts did not involve gaming. With its rulings in hand, it then aggressively marketed its offerings in the lead-up to the election. It did so by frequently referencing the word “bet,” which seemed contrary to how it was approved.

Regardless, Americans did not hesitate to pounce on the opportunity to stake real money on a legal platform for the first time. And while Kalshi is currently the only legal prediction market in the U.S., others prospered as well, such as the gray-area platforms Polymarket and PredictIt.

Colorado Wagering Tax Proposition Passes

Colorado voters on Nov. 5 approved Proposition JJ, which will allow the state to direct all sports betting tax revenue (minus some set costs and fees) to water projects in the state. Under previous law, up to $29 million in betting tax revenue could be directed to such projects, and anything above that would be sent back to operators.

But 76 percent of voters on the statewide referendum agreed to remove the cap. The idea to lift the cap came earlier this year as sports betting tax revenue has been consistently growing since betting went live in May 2020. Over the last three fiscal years, tax revenue has been rising steadily. At the end of the most recent fiscal year on June 30, the Colorado Division of Revenue reported taxes of $29.9 million from sports betting, meaning that $900,000 was returned to operators.

Colorado is the only state in the nation that directs sports betting proceeds to water projects. Wagering platforms are taxed at 10 percent of adjusted gross revenue.

Revenue Reports

Virginia sports betting operators had a strong September, taking $622.1 million in wagers and recording an 11.5 percent hold, according to a Nov. 1 Virginia Lottery report. Both were near records.

In Ohio, where the casino control commission reported September results late last week, bettors laid down a year-high $863 million in wagers while operators held nearly 12 percent. FanDuel had more revenue than competitor DraftKings, but DraftKings took more money in wagers.

The Montana Lottery reported a loss of $26,938 on sports betting in October after bettors won big on football. According to the revenue report, bettors placed $4.9 million in football wagers and won $5.1 million. Football betting accounted for 65 percent of all wagers during the month.

In Other News …

SI Sportsbook is delaying its Michigan exit until early 2025, owner Evoke revealed in its Q3 report in late October. According to the report, the company wrote that it expects the “Conclusion of sale of New Jersey and Virginia businesses with full exit from US B2C now expected in Q1 2025 with the sale of Colorado and Michigan.”

Hard Rock Bet this week launched betting on eSoccer in Florida, the company announced. Consumers will be able to bet on top players competing in the upcoming FC 24.The market is available only in Florida.

  Thu, Nov 7, 2024

Pope County license ends in heartbreak for the Cherokees, momentum building for Minnesota sports betting, WarHorse Lincoln unveils new expansion and more.

Cherokees Lose Out on Pope County Casino License

Cherokee Nation Businesses (CNB) lost its chance for an Arkansas casino on election night, after the Choctaw Nation of Oklahoma mounted a campaign to have an already issued license rescinded. Issue 2 was a bit of an oddity as ballot questions go. A “yes” vote meant that the casino license in Pope County would be pulled back, while a “no” vote meant it would stand.

The measure won, 56 percent-44 percent, and the $30 million spent on the dueling campaigns made it the most expensive in state history.

The license – which was among four approved by voters in 2018 – has been fraught from the start. The three other licenses have been issued and casinos are open in Hot Springs, Pine Bluff and West Memphis. But in Pope County, a license issued in 2020 was taken back in 2021 and CNB was granted a license.

That license and the CNB bid were challenged more than once before the Arkansas Gaming Commission approved it in June. From there, the Choctaws, in an effort to preserve their customer base, began a massive lobbying effort that ultimately won. The Choctaws operate nine gaming locations in Oklahoma, including one on the Arkansas border, about 90 miles from the proposed Cherokee location.

Arkansas was one of three states in which voters decided the fate of a casino. In Virginia, only the residents of Petersburg voted on the issue and they approved a new casino in their town. But in Arkansas and Missouri, where the votes were statewide, casinos were not approved.

More Movement in Minnesota Wagering Deal?

Fox 9 in St. Paul is reporting that an “insider” told it that “stakeholders are closer than ever” to a deal to legalize digital sports betting. In October, Minnesota Indian Gaming Association (MIGA) Executive Director Andy Platto told an audience at Global Gaming Expo that a “framework” was in place.

The latest news seems to indicate that representatives from the Running Aces Casino – part of a racetrack in the state – are ready to negotiate. The state’s two racetracks have been at odds with the state’s tribes over the issue. The tribes have exclusivity for gaming in Minnesota and previously have been opposed to the tracks being granted betting licenses. But Fox 9 shared a statement, sent from Running Aces to MIGA, Nov. 5. It reads, in part:

“Running Aces understands the importance of tribal gaming in Minnesota and the economic support that it provides to each of the sovereign tribal nations in this state. We also believe that racetracks, tribal casinos and charitable gaming all provide important and distinct benefits to the communities we each serve and broad benefits to all Minnesotans. Minnesota has demonstrated that all three types of gaming can be successful. We believe it is possible to work through any disagreements and arrive at successful compromises.  … We stand ready to do what we believe is in the best interests of the horse racing industry, employees and shareholders and provide our full support to a sports betting bill that accomplishes this goal.”

WarHorse Lincoln Expansion Opens

The WarHorse Lincoln Casino Nov. 4 opened Phase 2 of its permanent facility, which includes 400 new slot machines, table games and more than 100 simulcast screens. With the opening, gamblers at the casino are now able to play blackjack, roulette and mini-baccarat.

The casino, owned and operated by Hochunk, Inc., the business arm of the Winnebago Tribe, is banking on increased foot traffic and revenue from the table games, in particular.

“A lot of people, when they think of Las Vegas style gambling, they think of table games, right? Blackjack, Roulette,” Hochunk’s Lynne McNally told Nebraska Public Radio. “So, you know, we’ve been open for two years with only enough room for slot machines, but we now have 10 table games.”

A third phase that will add a combined 500 more slot machines and table games is planned for 2025.

Hard Rock CFO Gets Initial Nevada Approval

Vincent Zahn, executive vice president and chief financial officer of Seminole Hard Rock International, Nov. 6 became the first executive moving through the licensing process as the company revamps the former Mirage Hotel site on the Las Vegas Strip. The Nevada Gaming Control Board recommended his license be approved, and the state gaming commission is expected to vote on it Nov. 21, reports the Las Vegas Review-Journal.

Zahn, who previously lived in Nevada, oversees 120 people in his position. He’s been traveling between the company’s Florida headquarters and Nevada as the renovation progresses. The company is the first tribal-owned entity to have a location on the Las Vegas Strip. Hard Rock shut down the Mirage July 17 and has plans to replace the iconic volcano with a guitar-shaped hotel tower.

In Other News …

Aristocrat Gaming debuted its Phoenix Link slot machine at the Yaamava’ Resort & Casino in California this week. The debut was a world premiere. The machine is a spin-off of Dragon Link, and players will see some similarities between the machines, according to the company.

The polls in Arizona’s Navajo Nation Nov. 5 were kept open late after “delays” earlier in the day, reports Cronkite News. The polls at multiple locations were kept open until 9 p.m., though any ballots cast after regular polling hours are being treated as provisional ballots.

  Thu, Nov 7, 2024

Macau sets a new post-Covid revenue record, work continues on Thailand casino initiative, MacDonald departs RWS and more.

October Best Post-Covid Month for Macau Casinos

Last month, Macau casinos raked in gross gaming revenue (GGR) of MOP 20.8 billion ($2.6 billion), up 6.6 percent over the same month in 2023 and 20 percent over September. GGR was also 3 percent higher than the previous post-pandemic high of MOP$20.2 billion recorded in May, according to the Gaming Inspection and Coordination Bureau (DICJ).

The month started strong, as mainland Chinese celebrated the national Golden Week holiday in Macau. The city welcomed more than 993,000 visitors from Oct. 1-7, up 1.9 percent over 2019, before Covid shutdowns began. Macau did not fully open its borders until January 2023.

According to the Macau Government Tourism Office (MGTO), city hotels saw record occupancy, peaking at 98.5 percent on Oct. 3-4.

Arrivals from mainland China, Macau’s top feeder market, were up almost 55 percent year-on-year. Tourism peaked on Oct. 3, breaking the all-time single-day record with more than 174,000 visitors.

More Pushback for Thailand Casino Plan

A draft of Thailand’s Entertainment Complex Act, which would establish a legal casino industry in the country, is expected to reach the cabinet this year and go to parliament for debate in 2025.

The legislation would introduce five or more integrated resorts (IRs) with gaming in locations such as Chiang Mai, Phuket, the Eastern Economic Corridor and Bangkok. It’s touted as a way to boost tourism, increase international investment, add new jobs and capture income that now goes to border casinos or underground operations.

But opponents say legal casinos could open the door to gambling addiction and financial crimes. A January report from the U.N. Office on Drugs and Crime said casinos and other “high-cash-volume businesses” have long served as portals for underground banking and money laundering in Southeast Asia.

James Warren, lecturer at Mahidol University International College in Phuttamonthon, told Voice of America that some oppose gambling because it “contravenes Buddhist precepts.” Others fear that casinos will increase problem gambling, debt and related crimes. However, Warren said, the outcome “largely depends on how well regulated the casinos are.”

Though lawmakers hope to open the country’s first IRs in 2029, before MGM Osaka breaks ground as Japan’s first casino, according to the Bangkok Post, the government is in no hurry.

“The details must be debated by all stakeholders,” said Deputy Finance Minister Julapun Amornvivat. “The final version may not be the same as the original, and the (assessing) committee will come from diverse backgrounds.”

An independent agency will conduct a feasibility study, and a policy board chaired by the prime minister will set the rules governing gaming complexes.

Melco Buoyant on Improved Macau Performance

In Macau, casino concessionaire Melco Resorts beat third-quarter estimates and kicked off a strong fourth quarter, thanks to Golden Week visitation, which drew more than 930,000 people to the gaming hub.

According to Macau Business, Melco’s City of Dreams recorded three of its best mass-table drop days of all time during the national holiday, Oct. 1-7. Studio City enjoyed four of its best days for mass table drop during the same period.

Melco also operates City of Dreams Manila in the Philippines and City of Dreams Mediterranean in Cyprus. The operator is currently developing a new casino resort in Sri Lanka. Phase 1 debuted in October. Phase 2 will add a casino and more non-gaming attractions.

Company-wide, Melco posted total operating revenues of $1.18 billion, up 16 percent from $1.02 billion in Q3 2023. Operating income totaled $138.6 million, compared to $94.7 million last year. Earnings before interest, taxes, depreciation, and amortization (EBITDA) of $322.5 million compared with $280.6 million in 2023. Net income was $27.3 million, reversing a net loss of $16.3 million last year.

Will Japan Award More IR Licenses?

In 2018, when Japan approved integrated resort (IR) legislation, analysts predicted the new gaming industry would rival Macau for revenues. But Covid threw a monkey wrench into the process. Since then, Japan has approved just one license, to MGM Osaka. Will the market ever regain its momentum?

Steve Gallaway of Global Market Advisors says the slow pace of licensing in Japan caused “investor fatigue” among operators who once were keen on the jurisdiction. But if MGM succeeds, interest in IRs—among operators, the government and the Japanese people—could reignite.

“MGM demonstrated strong staying power and will ultimately be successful,” said Gallaway. “I suspect as MGM continues to move forward, demonstrates its ability to act as a strong member of the community, provides good-paying jobs and is sensitive to the needs and wants of the local population, people’s fears of IRs will dissipate and there will be a push for additional IR development.”

That outcome is likely years in the future. MGM Osaka, a $10 billion development on Yumeshima Island in Osaka Bay, is not expected to open until 2030.

Andrew MacDonald Exits Resorts World Sentosa

Andrew MacDonald has left his post at Genting Singapore’s Resorts World Sentosa (RWS), in a resignation that was effective Nov. 1. MacDonald assumed the post in February, and has been with Genting Singapore for about two years.

MacDonald previously served as chief casino officer and senior vice president at RWS’ sole rival in the market, Marina Bay Sands. In August, MBS banned him from entering his former workplace, claiming he had attempted to poach VIP clients, according to the Straits Times.

RWS reported that he left for personal reasons.

  Thu, Nov 7, 2024

New bill presented to end gambling monopoly in Paraguay, Brazilian stakeholders emphasize RG efforts, new crash game comes to Venezuela and more.

Bill Presented in Paraguay to End Betting Monopoly

A bill to eradicate the gambling monopoly in Paraguay has been presented with the aims of modernizing the nation’s betting regulations.

Law No. 1016/1997 currently says the “exploitation of national games of chance will be carried out exclusively by public tender.”

The new initiative will place Paraguay’s National Commission of Gambling (Conajzar) under the country’s National Tax Revenue Directorate (DNIT) with the objective of collecting more revenue and increasing its efficiency by strengthening its powers.

The proposal involves the liberalization of the Paraguayan gambling market by removing monopolies, meaning private operators could enter the market.

Brazil Ministry Requests Information from Applicants on Player Protection

Brazil’s Ministry of Justice and Public Security (MJSP) has requested information from 17 betting operators on their plans to protect vulnerable bettors.

Through the National Consumer Secretariat (Senacon), the MJSP has called on the companies to provide details on advertising, bonuses and how they plan to restrict access to betting from minors.

The 17 companies contacted include the likes of Betano, Flutter Entertainment’s Betfair and EstrelaBet. They will have until Nov. 11 to respond with the necessary information.

National Secretary for Consumer Affairs Wadih Damous says the aim of the move is to ensure companies are acting within the limits of the law.

IBJR and Loterj Hit Back Amid Rising Pressure on Brazil’s Gambling Sector

The Brazilian Institute of Responsible Gaming (IBJR) this week published a manifesto titled “To play, there must be rules” amid growing criticism of the gambling sector in the country.

The manifesto’s objective is to highlight the importance of player protection and regulation, featuring on the front cover of the Nov. 4 edition of numerous major Brazilian newspapers.

The manifesto clarifies four areas on which the IBJR is working to ease fears over the impact of betting legalization in Brazil. These are the strict enforcement of regulations, advertising, positive tax contributions towards the economy and sports and finally the promotion of responsible gambling.

A number of surveys have led to increasing fears over gambling legalization and its impact on the financial and mental health of Brazilians, including one that found 10 percent of the Brazilian population had experienced financial issues from gambling.

Following the publication of the IBJR’s manifesto, the Rio de Janeiro State Lottery (Loterj) issued a release of its own on responsible gambling, in which it highlighted how its licensed brands are working towards a “safe and conscious” betting environment in Brazil.

Brazil Senate President Confident of Betting CPI Creation Despite Delays

Brazil’s Senate President Rodrigo Pacheco still believes the parliamentary inquiry commission (CPI) on betting will be established after it was delayed in October.

On Oct. 8, Senator Soraya Thronicke called for the creation of a CPI on betting in Brazil, with the objective of studying the “growing influence of online virtual gambling games on the budget of Brazilian families.”

Thronicke’s request achieved the required signatures, however its installation was delayed with it unclear which senators would work on the inquiry.

Pacheco maintains it will be created soon, though, saying: “It [the CPI] needs to be installed now and made to work. I think it is a good measure to seek clarification and propose measures to limit and contain gambling and to improve discipline in relation to these bets.”

FacilitoBet Launches Aviatrix Crash Game in Venezuela

The crash game Aviatrix has launched in Venezuela after agreeing to a deal with FacilitoBet to become one of its partners.

Aviatrix, which has gained popularity in a number of other Latin America markets such as Brazil and Peru, will be integrated into FacilitoBet’s platform.

Gabriela Novello, Aviatrix’s Head of Business Development in Latin America, is excited to bring Aviatrix to another new market and for the potential of the deal with FacilitoBet.

“By integrating us into their own platform, we’re able to work directly with the FacilitoBet team to bring a truly world-class experience to players across Venezuela,” Novella said. “This is another important step in the Aviatrix journey.”

By Roger Gros   Fri, Nov 8, 2024

This week, we sit down with Howard Glaser (l.), head of government affairs and legislative counsel for Light & Wonder, to talk about the sweepstakes casinos that are spreading around the world.

Howard Glaser was a top aide to two New York governors, and led the successful effort to legalize commercial casino gaming in New York. At the federal level, Glaser served in multiple roles at the United States Department of Housing and Urban Development. In his position at Light & Wonder he represents the company in the halls of government—federal, state and local. He recently called attention to the “sweepstakes casino” issue that has exploded over the past couple of years. He talks about the definition of gambling and explains how these websites fit every definition but are not regulated or taxed and have little KYC, AML or responsible gaming programs. He spoke with GGB Publisher Roger Gros at G2E in October.