Tag Sports

CFL Commissioner Calls for Online Sports Betting Market in Quebec - Casino Reports 25Sep
By Daniel Thompson 0 Comments
CFL Commissioner Calls for Online Sports Betting Market in Quebec – Casino Reports

Canadian Football League's commission is urging lawmakers to look into a competitive for online sites. Randy Ambrosie believes that a sector similar to 's would create a ‘level playing field' and protect the province's unique culture. Currently, the only regulated online sports wagering is provided by Loto-Québec.

Last week, the CFL along with other major , including Major League Soccer and the National Basketball Association once again urged to province to introduce its own market for online sports betting. The idea is to have the province introduce an iGaming framework similar to the one in Ontario where numerous private operators and suppliers currently operate in.

CFL's Stance

In a recent statement, Mr. Ambrosie shared the CFL has a deep appreciation for the unique history and culture of the La Belle province. He mentioned that the league is aware of sports' crucial role in the province, including CFL's Montreal Alouettes brand. That is why CFL is joining other leagues in urging the province to fully explore the benefits of a regulated iGaming sector.

Mr. Ambrosie explained that the new market would not operate from the shadows and would protect the integrity of competition while also promoting responsible gambling. In his words, this would enable a ‘level playing field' across the North American market. It would also be an opportunity for the province to protect and bolster its culture and benefit the local population.

Earlier this year, the province saw the development of the Québec Online Gaming Coalition consisting of leading online betting brands such as Bet99, DraftKings, Flutter (parent company of FanDuel), Entain (part-owner of BetMGM), Betway, and BetRivers-owner Rush Street Interactive. These operators are up and running in leading legal markets and call for Quebec to launch a similar approach.

Quebec is the second largest province in terms of population in the country and it would be on par with some of the U.S. largest markets if introduced a regulated iGaming sector for private operators. That is why leading brands are interested in it. However, it remains unclear whether that the province's lawmakers would be convinced by the efforts.

Meanwhile, Ontario Reaps the Rewards

While Quebec lawmakers are still not firm on establishing a private sector for online gaming and sports betting, Ontario is reaping the rewards from it. Launched in April 2022, the province disclosed CA$35.6 billion in handled wagers which translated into CA$1.4 billion in revenue for the first 12 months. It placed the province in the top five markets on the continent.

As per provincial data, in the first year of legal iGaming, active player accounts spend around CA$70 every month. Attorney General Doug Downey said the iGaming market has successfully replaced the pre-existing unregulated one and made the jurisdiction a leader in the industry. He added that the government is pleased with the strong, responsible, and competitive model.

Source: Zochodne, Geoff “CFL: Competitive Sports Betting Market in Quebec Could Create ‘Level Playing Field,' Protect Culture” Covers, September 20, 2023

#CFL # # #Online #Sports #Betting #Market #Quebec #Casino #Reports

Sports Leagues in Favour of Private iGaming in Quebec - Casino Reports 18Sep
By Daniel Thompson 0 Comments
Sports Leagues in Favour of Private iGaming in Quebec – Casino Reports

Three professional leagues are calling for to establish a regulatory framework to license numerous sports brands in the province. The Canadian Football League, Major League Soccer, and the National Basketball Association urge the La Belle Province to follow Ontario's example and introduce a similar for third-party brands.

The efforts are headed by Québec Online Gaming Coalition, a group that contains several online operators which are currently not allowed to offer legal sports betting in the province. In May 2023, the coalition proposed a framework similar to that of Ontario, where numerous third-party operators can lawfully accept and offer online casino and sports betting to local players.

Sports Leagues Call for Opening of the iGaming Market

At the moment the only legal online gambling in the province is offered via Loto-Québec. However, , MLS, and NBA want to change that as they have joined the coalition which urges the province to create a new regulatory framework, such a model would allow the province to license private sports betting brands to join the regulated market.

The CFL was a proponent of decriminalizing single-event wagering which became a reality in 2021. Its' Randy Ambrosie for Quebec lawmakers to fully explore the positives of introducing a regulated playing environment, which will not be operating in the shadows. In his words, it would also protect the integrity of the competition and promote responsible play.

The NBA is also in of Quebec opening its iGaming sector to outside operators. A spokesperson for the association, Mike Bass commented that if Quebec's government wanted to launch an open and lawful market, the NBA would support the initiative, in the same way that it has supported the introduction of Ontario's open and competitive internet gambling.

Members of the coalition include popular gaming brands such as Bet99, DraftKings, Flutter Entertainment, Entain, Betway, and Rush Street Interactive. However, it is not enough to convince the province yet. A Loto-Québec representative said the leagues should question the coalitions' true intentions and claimed some coalition members are illegally taking bets from Quebecers.

Ontario's Market is Doing Well

In the meantime, Ontario's iGaming market continues to reap success. Recently, the province shared its financial report for the first quarter of 2023-2024. It reported CA$14 billion in online wagering and CA$545 million in gaming revenue. There were 46 operators online, which ran 71 gaming websites. There were 920k active user accounts, which had an average monthly spend of CA$197.

However, the increase in iGaming's popularity led to an influx of betting ads from private operators. That is why the Alcohol and Gaming Commission of Ontario recently banned the use of active or retired athletes in gambling ads and endorsements. This is due to the fact that such figures usually appeal to the younger demographics.

Source: Zochodne, Geoff “Report: Three Leagues Supporting Sports Betting Expansion in Quebec” Covers, September 15, 2023

#Sports #Leagues #Favour #Private #iGaming #Quebec #Casino #

NY Congressman Says Ban on Sports Betting Ads is Stalling - Casino Reports 25Aug
By Daniel Thompson 0 Comments
NY Congressman Says Ban on Sports Betting Ads is Stalling – Casino Reports

Earlier this year, US Rep. Paul Tonko, D-20th introduced a bill that would induce a federal on betting advertisements nationwide. Fast-forwarding several months to now, and it seems that the legislation titled H.R. 967 has not gained much traction and the bill is no further along in Congress today than it was back at the start of the year.

His proposal came after the public and addiction experts shared their concerns about the increasing popularity of sports betting and the related influx of betting commercials and endorsements. Despite launching in January 2022, the Empire State's quickly surpassed New Jersey and Nevada in both handle and state tax revenue.

Bill Hasn't Progressed

When speaking at the Racing and Gaming Conference at Saratoga in August, Mr. Tonko explained that there is a need to battle aggressive marketing strategies by sportsbook operators. Currently, several states are trying to deal with such marketing, and Mr. Tonko repeated that federal regulations are needed to address those gambling .

He further elaborated that his legislation would not be a straight bon on mobile sports betting, and instead, it targets predatory advertising that has coincided with a substantial increase in gambling addictions. His proposal was referred to the House of Energy and Commerce Committee, which he is a member of. The said committee has jurisdiction over healthcare at a federal level.

Upon the presentation of the Betting on Our Future Act, the lawmaker noted that sports gambling ads pose a particularly dangerous threat to adolescents and young adults who are unaware of the risks of gambling. But, currently, the status of the 's legislation is undecided. At this point, he remains the only sponsor of the February 2023 legislation.

Additionally, Mr. Tonko said that in the years the Supreme Court decriminalized sports wagering, these unregulated ads have become quite a problem, as betting companies pour billions into making sure that their ads reach every household in the U.S. That is why he believes that the uncensored and excessive promotions of betting sites must be put in check.

Market Continues to Grow

In the meantime, the Empire State's mobile sports betting market continues to grow, as in July 2023, the state celebrated reaching the critical milestone of US$25 billion in handled sports wagers online. This was done in less than 18 months, making NYS the quickest legal jurisdiction in the country to achieve the number.

On top of the increasing popularity of mobile sports wagers, lawmakers such as New Sen. Joe Addabbo, are looking to introduce online casino play and internet lottery as a legal option. He said the CA$1 billion from mobile sports wagering for education was a monumental milestone. That is why the lawmaker urges for further expansion of the gaming offerings.

Source: Danzis, David “NY Congressman's Sports Betting Ad Ban Still Up In The Air” PlayNY, August 24, 2023

#Congressman #Ban #Sports #Betting #Ads # #Casino #

New York Issues Latest Mobile Sports Betting Numbers - Casino Reports 7Aug
By Daniel Thompson 0 Comments
New York Issues Latest Mobile Sports Betting Numbers – Casino Reports

The summer continues to be a slow season for sportsbooks in New , as a recent weekly report confirms another decrease in gross gaming revenue for operators. For the last week of July 2023, the state's currently eight active operators took in a handle of US$246.5 million. But the increase in volume also saw a drop in gross proceeds for the week.

Since January 2022, the Empire State offers legal mobile betting to its residents, which is provided through a total of nine licensed gambling operators. They are FanDuel, DraftKings, Caesars Sportsbook, BetMGM, PointsBet, WynnBet, BetRivers, Resorts WorldBET, and Bally Bet. However, the last one has been inactive for over a month now.

Handle Increases but Proceeds Tumble

For the seven-day period that concluded on July 30, 2023, NYSGC reported that the eight operators saw an increase in betting activity, but still, it did not provide larger returns for sportsbooks. According to the regulator, they amassed US$246.5 million in wagering volume, which was 13% from the previous week's US$217.8 million and 38% higher from the same week last year.

However, the increase in wagers did not provide a bump in gross gaming proceeds for the week, as the US$24.2 million was 4% down in comparison to the prior week. In July, the eight sportsbooks collected more than US$200 million in handle and over US$20 million in revenue in all but one week. Also, for the said week, sportsbooks saw their hold decrease to 9.8%.

The week of July 30, 2023, was rather difficult for FanDuel, which captured US$95.2 million from the total wagering volume or 2.8% more than its previous week. However, the issue was its gross gaming earnings, as the gambling leader disclosed revenue of just US$4.9 million. This was its lowest in a week over a year and a hold of 5.14% was its deepest since April.

DraftKings performed better in terms of revenue as it reported US$13.3 million from a handle of US$94.5 million with a win rate of 14.1%. Caesars Sportsbook got the third-largest handle with US$26.5 million in a 9.6% hold to generate US$2.6 million in GGR. BetMGM clocked 11.5% in a hold and was in fourth place with a handle of US$16.1 million and proceeds of US$1.8 million.

The Situation around Bally Bet

The week ending on July 30, 2023, was the fifth in a row, where there were only eight active operators. This is due to the fact that in June, the operator announced that it will be suspending activities in New York. During the downtime, the company will integrate technology from Kambi Group and said it will take several weeks to resume operations in the state.

It seems only natural for Bally Bet to take some time off in the Empire State, as the operator did not enjoy the best results since its late launch into the mobile sports betting . For instance, in the week of November 13, 2022, the company was the only one to suffer a loss for the week. Meanwhile, the nine operators recorded gross gaming revenue of US$31.3 million.

Source: Senkiw, Brad “New York Sportsbooks End July with Lower Weekly Profit on Higher Handle” Covers, August 4, 2023

#York # # #Mobile #Sports #Betting # # #

Senator Pushes for Regulation of Sports Betting Ads - Casino Reports 3Aug
By Daniel Thompson 0 Comments
Senator Pushes for Regulation of Sports Betting Ads – Casino Reports

Over the last year, advertisements have become more and more prevalent in , and some individuals are far from happy with it. One of those is Martha “Marty” Deacon who represents the Waterloo region and believes that the situation in the province has gotten out of control. She for national regulation regarding the influx of .

The increase in sports wagering advertising can be explained by the legalization of the decriminalization of single-event betting in the country in August 2021. This essentially paved the way for Ontario to open up its space for private operators, which subsequently led to over 40 operators gaining approval to operate in the local sector.

Ads are Annoying and Dangerous

Ms. Deacon who represents Waterloo as an independent commented that the number of ads that encourage people to gamble on sporting events is both annoying and dangerous. She mentioned that such ads often feature celebrities or athletes, which makes them very attractive and addictive, which can draw the younger generation and vulnerable individuals.

That is why she submitted legislation to create a national framework to regulate sports betting ads and limit or ban celebrities and sports stars from featuring in those commercials. Her idea is also to limit the number of ads displayed in a location. She noted that gambling endorsements spiked at a rate that was not anticipated and that the country must act on it now.

Meanwhile, sports fans and bettors also notice that these ads become more and more prevalent. One hockey fan noted that it was particularly noticeable while watching the Toronto Maple Leafs in the NHL playoffs. It was estimated that there were more than eight minutes of sports betting ads displayed during Game 1 of the series against the Florida Panthers.

The Senator reckons that sports wagering companies have to be socially responsible when promoting their product and remind people that gambling can lead to problems. She is not calling for complete bans of commercials but explained that it would take time to make a change as the Senate bill will need to go through a second and third reading before heading back to the House of Commons.

A few months ago, the Canadian Mental Health Association has also weighed in on the topic of gaming ads and also called for a ban on such commercials. It noted that the province has seen a concerning increase in Grades 7 to 12 students wagering money on gambling. The association also indicated that approximately 15% of students have participated in real-money iGaming.

Regulator Says Changes Are on the Way

However, the Alcohol and Gaming Commission which regulates Ontario's for online gambling said that the changes in ads rules are close. This was reported by Tom Mungham, CEO and registrar who in June during the Canadian Gaming Summit said amendments are weeks away and not months. But since then, there has been no update from the AGCO.

Source: Boswell, Craig “Advertising Rules Unwritten in Ontario as Ads go Full Throttle” .org, August 2, 2023

#Senator #Pushes #Regulation #Sports #Betting #Ads #Casino #Reports

Sports Betting Exchange STX Makes Official Ontario Debut - Casino Reports 28Jul
By Daniel Thompson 0 Comments
Sports Betting Exchange STX Makes Official Ontario Debut – Casino Reports

This week, the province of and its regulated for iGaming, witnessed the launch of the first sports , , in the digital sector. The platform earned its license from the Alcohol and Gaming Commission of Ontario to legally operate in the province earlier this year and is now up and running for users of legal age to place their sports wagers.

In April 2022, Ontario became the first Canadian province to open up its regulated market for gambling and sports betting to the private sector. The legal framework is overseen by AGCO and iGaming Ontario and it was introduced to take away the gambling monopoly from the Ontario Lottery and Gaming Corporation and keep local bettors away from offshore websites.

First of Its Kind in Ontario

After its launch, Canada's most populous province marks the first regulated market where STX can offer its services. The platform is not a traditional sportsbook, as it is an exchange allowing users to determine the odds of a betting market. Via the STX app, players can place trades in the betting markets once both buyer and seller find a middle ground on their pricing.

One of the positives of a sports betting exchange is that it comes with lower fees than the ones of traditional sports betting platforms. For instance, instead of placing CA$110 to win CA$100 on a team to cover the spread of 3 points against another team, players can now just put CA$100 for the same bet and wait for another customer of the exchange to accept and match it.

Also, the exchange kicked off work in the province in collaboration with the U.S. Integrity monitory service to ensure user fairness and equal opportunity. It enables users to make transactions at any time of the day and every day of the week. The company also shared plans of eyeing a launch of an all-in-one sportsbook betting exchange outside of the province.

Its introduction to Ontario is the result of wagering exchanges looking at promising businesses in a competitive sports wagering sector. This April, Prophet Exchange generated more than U$10 million in funding. This is the first licensed peer-to-peer sports betting exchange in the U.S. and now the company wants to expand to new leading markets.

Q1 in

It remains to be seen how STX will perform in Ontario's highly competitive sector. Just this month, the province issued its report for the first quarter of the financial 2023-2024. For Q1, operators generated approximately CA$14 billion in wagering handle, which transformed into CA$545 million in gaming revenue. At the end of the quarter, there were 46 operators online, which ran 71 gaming websites

However, the majority of bets were placed under the iGaming category, which captured nearly CA$11.6 billion or 83% of total wagers. It delivered CA$392 million or 72% of the gaming revenue. Meanwhile, betting on sports, eSports, and novelty bets contributed CA$2 billion or 14% of the total gaming handle and CA$138 million or 25% of the proceeds.

Source: Byers, Justin “Ontario's First Sports Betting Exchange Goes Live” Covers, July 27, 2023

#Sports #Betting #Exchange #STX # #Ontario # # #Reports