This Week's Sports Betting Update

?Hello, we’ve taken a look at what’s new, 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?

Ohio formally unveils legal sports betting market

The state of Ohio has formally launched its legalised sports betting market. Following the agreement of a sports betting bill by conference via the two houses of its legislature, several major sportsbook operators have begun to serve citizens within the Buckeye State.

BetMGM, DraftKings Sportsbook and FanDuel Sportsbook launched on 1 January 2023, along with established European brands such as bet365 and Tipico. Licences have also been issued to start-up operators like Prophet Exchange and Betr.

Sports betting represents a tremendous revenue opportunity for the state of Ohio. As America’s seventh-most populous state, Ohio’s residents will be pleased to see the market launch in time for the 2023 College Football Playoff National Championship as well as the NFL playoffs.

Click here to discover which operator was refused a licence by the Ohio Casino Control Commission ahead of the market’s launch.

What you need to know

Commercial

• ???? PointsBet has confirmed it is in discussions with media giant News Corp over the sale of its Australian arm. The platform could be sold to News Corp venture NTD Pty Limited headed up by industry executive Matt Tripp, who oversees the Betr sportsbook. PointsBet says any sale will be “assessed in the context of [its] global strategy and opportunities''. More
• ???? Super Group has announced the purchase of Digital Gaming Corporation (DGC). The iGaming and sports betting firm, which has owned the US rights to Super Group’s Betway sportsbook, has been acquired as the Betway brand proliferates stateside. Betway is now live in eight US states, with plans afoot to go live in Louisiana during Q1 2023. More
• ???? The Massachusetts Gaming Commission (MGC) has opted to grant Penn Sports Interactive a sports betting licence, handing its Barstool Sportsbook brand entry into the Massachusetts sports betting marketplace. The licence has been issued pending cooperation with investigations surrounding its brand and founder, David Portnoy. More
• ?????Betsperts Media & Technology Group has finalised a buyout of Illinois-based sports news portal Bleacher Nation. The specialists in fantasy sports and sports betting completed the acquisition in a cash-plus-equity deal. The acquisition will increase its audience to more than 25 million unique users across the Bleacher Nation network. More

Regulation

The state house of Missouri has received a new sports betting bill at the start of its latest legislative session. House Bill 581 was introduced on January 4, sponsored by Representative Phil Christofanelli. If the bill passes, it will repeal three elements of Missouri’s current sports betting legislation and enact 17 new sports betting laws. The bill would legalise both land-based and online sports betting. More

Technology

The Malta Gaming Authority (MGA) has allowed BetConstruct to accept bettor deposits in cryptocurrency. The decision means that BetConstruct’s white-label partners will also be free to accept cryptocurrency deposits, broadening their customer base to millennial and Gen Z users who may prefer wagering in crypto to fiat currency. BetConstruct says this move is designed to enhance the “satisfaction and engagement” of players. More

People news

Pinnacle confirms appointment of new chief revenue officer

Cura?ao-licensed online sportsbook Pinnacle has announced the appointment of Aleksandra Sygiel as its new chief revenue officer. Sygiel is an internal promotion, having spent more than 12 months as the sportsbook’s director of international development.

Sygiel is highly experienced in the iGaming industry, having served at LeoVegas Group for more than five years, finishing her time with the Swedish firm as head of business development.

Prior to her time at LeoVegas, Sygiel worked for Win Technologies as a marketing communications executive, managing marketing communications across Betway’s sports betting, casino and poker verticals.

Click here to get the thoughts of Sygiel on her promotion with Pinnacle.

This week's talking point

BHA chair Joe Saumarez Smith is the latest champion for fairer betting practices

Joe Saumarez Smith, chair of the British Horseracing Authority (BHA) and a former high-stakes racing gambler, recently spoke with Racing Post’s Lee Mottershead and provided his thoughts on the approach bookmakers have taken with winning punters. Bookmakers now close accounts of winning punters almost as soon as they are opened.

Saumarez Smith, described the issue of account closures and restrictions on winners as “a massive problem for the sport.” He also said that "People on racing trading desks would tend to agree, but the problem is most bookmakers are now run by the chief financial officer and accounting department.”

Saumarez Smith pointed out that algorithms handle most account-based decisions which prevents a more in-depth review of bets that the punters place.

?Click here to discover why Saumarez Smith and the BHA want the industry to move to a levy system underpinned by turnover instead of profits.

This week's insight

Why Australia is a land of opportunity for Esports betting operators

Australia’s established, vibrant sports betting market is ripe for operators looking to secure a foothold in the Esports betting scene. That’s the view of Steven Salz, chief executive of Canada-based Rivalry, which has looked to make its mark down under in recent months.

With Rivalry’s primary product offering covering Esports betting markets, it has found a deep and willing customer base in Australia. Salz described Australia’s Esports betting scene as “more developed than some other English-speaking markets”.

Salz says the biggest benefit is Australia’s proximity to the Asian League of Legends scene, which proves highly popular and lucrative. He also noted the fandom among Australians, which draws bettors into certain Esports teams and franchises.

Salz and Rivalry plan to keep pace and enhance its Esports betting product in Australia before weighing up additional expansion, potentially in the well-regulated European markets that Salz says have a great Esports audience.

Click here to get the thoughts of Steven Salz on the outlook for Canada’s betting industry, with Rivalry having originated in the newly regulated Ontario market.

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