This Week's Sports Betting Update

One big story?

BGC revises down annual contributions by the UK betting industry towards British horseracing

The Betting and Gaming Council (BGC) has submitted a revised figure of the UK betting industry’s yearly contribution towards British horseracing.

Questions were asked over the validity of BGC’s initial figure of ￡455 million being supplied to the sport in 2022 via sponsorship deals, media rights and levy.

Consequently, the BGC revised down its figure, with its members directly contributing ￡384m to the sport last year.

The BGC claimed an error calculating media rights payments was to blame for the initial erroneous figure. Figures within media rights companies and among UK horseracing’s top brass called out the BGC as their initial figure didn’t align with their own numbers.

Even so, the ￡384m contributed in 2022 is almost 10% up year-on-year based on past estimates of the industry’s contribution of ￡350m a year.

Click here to learn how much UK bookmakers spent on marketing campaigns to promote UK horseracing and betting on race meetings.

Don't miss this webinar

Customizing the user experience: Making your platform stand out to sports bettors and sports fans for the NFL season

The NFL season is quickly approaching and the importance of the season for companies within the sports betting and fantasy sports industry cannot be understated.

Our SVP of B2B Operations, Ed Bunnell, and Eliot Crist, the CEO of Matthew Berry's Fantasy Life, recently connected and discussed unique ways in which companies can engage their audiences. Sports Illustrated's Fantasy and Senior Betting Analyst Jennifer Piacenti moderated the discussion and asked the hard-hitting questions.

Click here to watch the webinar on-demand and learn the importance of creating a custom experience for your audience.

What you need to know

Commercial

• Philadelphia-based sports betting exchange Sporttrade has gone live in the regulated Colorado sports betting market. This comes almost 12 months after its initial launch in New Jersey in September 2022. The firm was attracted to Colorado’s $12 billion in handle generated since 2020. More
• Bally Bet has launched its new Kambi-powered sports betting app in the state of Ohio. After ceasing its original app, developed by Bet.Works, its new solution has been created in partnership with Kambi Group and White Hat Gaming. Bally Bet secured an Ohio licence via its partnership with NFL franchise Cleveland Browns. More
• Bet365 has been given the green light to operate in the Arizona sports betting market. The UK-headquartered bookmaker secured one of three remaining tethered licences, after reaching a market access arrangement with the Ak-Chin Indian Community. Bet365 is already live in five other US states. More
• A cash return scheme has been approved by PointsBet shareholders following the sale of its US assets to Fanatics. Up to AU$458m will be returned to investors over two tranches, after the completion of the $225m deal. Fanatics outbid DraftKings to reach an agreement for PointsBet’s US division, which accounted for around half of its total revenue in H1 2023. More

Regulation

The Alcohol and Gaming Commission of Ontario (AGCO) has become the latest gambling regulator to prohibit gambling ads from featuring celebrities and professional athletes in their marketing material. This ban will commence on February 28, 2024. It’s a major part of AGCO’s plan to safeguard Canadian children and maintain the integrity of the industry. More

Technology

EveryMatrix is forging ahead with its growth plans following the acquisition of DeepCI. This data-focused service will enable the iGaming technology and platform supplier to optimise future sports betting campaigns, as well as the performance of its affiliate partners. DeepCI technology already offers insight into brand visibility for a string of tier-1 operators, namely bet365 and Betway. More

People news

Entain spokesperson confirms Australian redundancies

An Entain spokesperson has confirmed a report from the Australian Financial Review claiming job losses within its Australia-based arm.

A small number of redundancies have been made, which has been attributed to a rapid period of growth in the Australian market and a review of business operations meant to help the company prepare for the next stage of growth. Earlier this summer, redundancies were also said to have affected Entain’s PartyPoker brand.

Click here to learn more about Entain’s global restructuring efforts.

This week's talking point

The race is on for Disney-owned ESPN to challenge the US sportsbook elite

Attention has shifted in the US sports betting market from the big hitters such as Flutter and Entain, at least for the time being, as ESPN seeks to make a splash.

Disney-owned ESPN has joined forces with gambling firm Penn Entertainment, signing a ten-year deal worth $1.5bn. Penn has a bold vision for an ESPN-branded online sportsbook, with plans to achieve 20% market share by 2027.

It’s possible Penn believes it can replicate the success of Sky Bet, which was underpinned in the UK market by Sky’s solid base as the nation’s dominant sports broadcaster.

Click here to learn why David Brohan, gaming and leisure analyst for Goodbody, believes the fragmented nature of America’s broadcasting space means it will be harder for ESPN to hit the ground running against well-established sportsbook brands such as FanDuel and DraftKings.

This week's insight

Why NASCAR feels the time is right to grow its US sports betting presence with Sportradar

NASCAR is attempting to boost its profile in the US sports betting market by enhancing its partnership with Sportradar. A new four-year deal has been reached which will see Sportradar’s official betting data supplied to NASCAR, extending its current partnership surrounding media data rights on scoring and live timing data.

In 2022, there was a 51.5% year-on-year rise in NASCAR betting across US-based sportsbooks. Sportradar’s executive vice-president of strategic partnerships and content, Eric Conrad, feels Sportradar is uniquely placed to enrich the NASCAR viewing and betting experience for fans.

NASCAR is already partnered with licensed sportsbook brands across the US, including FanDuel, BetMGM and Penn Entertainment.

Joe Solosky, managing director for sports betting at NASCAR, believes the inclusion of official NASCAR betting data will capitalise on the sport’s rapid growth in the market and allow seasoned and first-time viewers to engage further with the motorsport.

Click here to learn about NASCAR's recent partnership with micro-betting technology platform nVenue and its importance in developing new in-race micro-betting markets.

The BetTech Ecosystem 2023

Investigating the global landscape of sports betting and iGaming suppliers

The BetTech Ecosystem Report provides key insight into the global market of suppliers for sports betting and iGaming operators. Meanwhile, the visual offers an overarching view of the key suppliers across the 42 subsections that make up the BetTech Ecosystem.

Click here to read the BetTech Ecosystem Report.

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