The latest sports betting news is here

Hi there, we’ve taken a look at what’s news, trending and being talked about in the sports betting world this week. Grab a coffee, take five minutes and we’ll fill you in on everything you need to know.

One big story

Total gross gaming revenues reach all-time high in Sweden ahead of compliance changes

Sweden’s gambling inspectorate Spelinspektionen has revealed total gross gaming revenues (GGR) reached all-time-high Q2 wagering activity this year.

Total GGR hit almost ￡508 million in Q2 2024, comfortably higher than the total GGR of Q2 2023 (￡494m) and even 3.3% higher quarter-on-quarter.

Online gambling continued to be the biggest revenue driver, including Svenska Spel’s online revenues, posting a 9.2% rise in GGR. However, GGR from the country’s national lottery declined by 7.5% in Q2 2024, falling to its lowest level since Q1 2020.

In H2 2024, Spelinspektionen has called on its licensed iGaming operators to ready themselves for a new regulatory framework applied by the nation’s Gambling Act. This includes action plans for improved customer care and a ban on credit-related deposits.

Click here to get the lowdown on the Swedish iGaming industry and the upcoming legislative tweaks to the market.

What you need to know

Commercial

• Betano has been named the market leader of Brazil’s existing grey online sports betting market. Almost a quarter (23%) of all bets are placed with Betano, according to projections made by consultancy firm, H2 Gambling Capital. The second most used online sportsbook is said to be bet365, taking 20% of the market share prior to the launch of its legal market in the New Year. More ?
• Slingo game provider Gaming Realms has revealed a rise in revenue, net profit and EBITDA for H1 2024. Aided by improvements to its content licensing arm and the emergence of new slingo games, revenue spiked 27.3% year-on-year, with overall net profit up 32% year-on-year. More ?
• Spain’s Codere Group reported a 10% year-on-year decline in recorded revenues in Q2 2024. Revenue fell to just over ￡260 million, with Codere heavily blaming the macroeconomic picture in Argentina. The sizeable devaluation of Argentina’s native currency has led to a 45% year-on-year fall in proceeds from the Argentinian market. More ?
• Entain has revealed its recovery in the UK and Irish sports betting market has occurred sooner than expected in H2 2024. In its latest September trading update, the firm confirmed stronger betting volumes and margins in sports than in H1 2024, underpinning its betting net gaming revenues to date. More

Regulation

• The Indian Goods and Services Tax (GST) Council confirmed this week it would maintain its 28% tax rate on online gambling turnover, spanning iGaming and horseracing betting. After a six-month-long review of the tax rate, it was revealed that online gambling revenues were up 412% between November 2023 and April 2024. That’s despite a lack of foreign direct investment in the Indian iGaming sector since the new tax regime was implemented. More

Technology

• Caesars Sportsbook has taken control of the previous GambetDC kiosks across Washington, DC. Following an executive order from the Office of Lottery and Gaming, Caesars Sportsbook will replace GambetDC kiosks across 53 locations in the district. Furthermore, sports bettors with an online Caesars Sportsbook account will have the ability to fund their online balances in person. These kiosks will support conventional deposits to fund digital accounts. More

People news

Superbet founder Sacha Dragic returns as co-CEO

The founder of Superbet, Sacha Dragic, is back at the helm as co-chief executive officer, after a five-year stint on its board of directors.

Following a broader reshuffle of its c-suite, Dragic will move alongside existing CEO, Jimmy Maymann, to oversee the firm’s next period of growth.

Maymann has been in the role since January after deputising for the outgoing Johnny Hartnett.

Click here to discover why Dragic’s return has been heralded a “game-changing” move for the European sports betting and iGaming group.

This week’s talking point

GamProtect reassures public amid new scheme launch for at-risk gamblers

The team behind GamProtect, a new initiative designed to protect those vulnerable to problem gambling, has moved to reassure the public that this is not a step toward limiting the freedoms of ordinary punters. The scheme aims to share data across operators, targeting at-risk customers while leaving the majority unaffected.

GamProtect's chair emphasised that the initiative focuses solely on preventing harm for the minority of vulnerable customers. Most punters will continue to enjoy services without any new restrictions on their activity.

Despite concerns about potential overreach, GamProtect has clarified that the scheme is designed to enhance protections for those who need it, without introducing widespread limitations.?

The goal is to use real-time data to monitor vulnerable individuals and prevent gambling-related harm, while ensuring personal freedom for responsible gamblers.

Click here to learn more about GamProtect’s efforts.

This week’s insight

Why Thailand could become the next hotspot for integrated casino resorts

Thailand could be the next Asian hotspot for legalised casino gaming if the country’s new prime minister has her way. Paetongtarn Shinawatra was sworn into power last week, with Shinawatra expected to approve legislation to build and licence as many as five integrated casino resorts across the country.

There is growing public and political momentum surrounding the creation of entertainment complexes featuring casinos, in the same manner as nearby Singapore.

Thai casino resorts would be launched with a heavy emphasis on non-gaming, with retail, leisure and dining also at the heart of the experience. Gaming floors would occupy no more than 10% of combined floor space.

Gambling in Thailand is strictly prohibited apart from horseracing and a government-approved lottery. However, black market gambling is said to be rife across the country.

Click here to learn more about Thailand’s push for a stronger economy, with entertainment complexes at the heart of plans to turbocharge tourism revenue.