This Week's Sports Betting Update
Spotlight Sports Group
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Hello, this week's edition of our newsletter is sponsored by ICE 2024, which returns to ExCel London 6-8 February, 2024. Grab a coffee, take five minutes and we’ll fill you in on everything you need to know from this week.
One big story?
Brazilian Senate approves sports betting – but removes iGaming from the bill
The Brazilian Senate plenary voted in favour of amendments to Bill 3,626/2023, which will formalise plans to launch regulated sports betting across the country. The vote, previously scheduled for 6th December, was delayed following a lack of available senators.
There are three points of note from the latest vote. Firstly, the Senate opted to remove the legalisation of iGaming from the bill. Furthermore, it also opted to exclude virtual games and sports betting terminals from the legislation.
However, a proposal to ban advertising from sportsbooks in sports stadia was thrown out by the Senate.
Gross gaming revenue will be capped at 12% rather than 18%, while the taxation on winnings has also been amended. Active sports bettors will be taxed annually at a rate of 15% on net winnings, with an exemption threshold set worth ￡339.
Learn more about what happens next for Brazil’s sports betting regulation and when the Chamber of Duties is likely to vote on the changes made by the Senate.
What you need to know
Commercial
Regulation
Curacao’s minister of finance, Javier Silvania, has outlined the licence fees that will be due by operators seeking a revised iGaming licence with this jurisdiction. New draft legislation will separate B2C and B2B iGaming licences for the first time, too. More
Technology
Genius Sports has heralded an enhanced long-term partnership with the world’s governing body of basketball, FIBA. The new deal, running from 2025 to 2035, will allow Genius to deliver its “revolutionary” computer vision technology and AI-driven capabilities to redefine the collating of in-play game data and advanced player tracking. More
People news
Jette Nygaard-Andersen steps down as Entain CEO
Entain CEO, Jette Nygaard-Andersen, has announced her exit from the post with immediate effect.
Having led Entain since January 2021, Nygaard-Andersen’s departure has been welcomed by Entain investors as stock shares for the company increased by 4% on Wednesday after the announcement was made. Non-executive director Stella David has been named interim CEO while the iGaming giant seeks a long-term replacement.
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Nygaard-Andersen’s exit comes days after the closure of Entain’s legal case with the Crown Prosecution Service, relating to historic services offered in the Turkish market.
Learn more about Nygaard-Andersen’s departure from Entain.
This week's talking point
Gambling charities are facing a waterfall moment in 2024
Gambling Minister Stuart Andrew has sought to ease concerns over the provision of problem gambling support. While the UK government forges ahead with plans to build a new system, based on a ￡100 million statutory levy imposed on sportsbooks, Andrew spoke at GambleAware’s annual conference.
GambleAware’s chair Baroness Kate Lampard insisted that the National Gambling Support Network must grow and develop while CEO Zoe Osmond revealed gambling charities faced a waterfall moment next year with no funding guarantees. So Andrew had a tough task to win delegates over.
Andrew’s keynote speech said his immediate priority was to get the new system right. He also reiterated the long-term success of the new system depended on secure and accessible funding.
Read more about Andrew’s speech and the roadmap for maintaining funding for the UK’s gambling charities.
This week's insight
The battle for margin control among France’s online sportsbooks
SBC’s Jake Pollard joined forces with Propus Partners to shine a spotlight on the diversity of margins among France’s leading online sportsbooks.
After analysing a string of Tier 1 football matches, it’s clear there is a vast differentiation within the French market on margins. Betsson's average overround was found to be just over 106% in game week 5 of the UEFA Champions League. Betsson, one of the newest entrants to the French market, is looking to take market share and has aimed to undercut its competitors – some of whom are operating with overrounds as high as 116%.
Pre-match outright winner (1X2) markets were found to have the lowest overround of all the football betting markets analysed. In terms of the volume of football betting markets offered, Winamax stood out from the crowd as the market leader.
Learn more about the complexity of the French sports betting market, including the reasons behind the comparatively high margins even in core markets.
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