Your weekly sports betting bulletin is live

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

Entain post 6% rise in NGR

Entain reported a 6% year-on-year rise in net gaming revenue (NGR) during H1 2024, reflecting robust growth across its global portfolio. Notably, they reported growth in Central and Eastern European markets and its international brands.

BetMGM, its joint venture with MGM Resorts International, maintained a strong 13% market share in the highly competitive US sports betting market, contributing ￡788m in NGR.

Entain remains confident in continuing this positive momentum and driving further revenue growth through H2 2024, building on its solid performance in the first half of the year.

These gains will help to offset declining NGR in the UK and Ireland, which fell 6% year-on-year. Online sports betting wagers at Entain’s UK and Irish-licensed platforms were down 17% year-on-year.

Click here to learn more about Entain’s successful ventures in Central and Eastern Europe, its growth in Brazil and the regulatory challenges closer to home.

What you need to know

Commercial

• Super Group has posted its strongest ever quarterly data in Q2 2024. Revenue was up 9% year-on-year to ￡356.99m. Its Betway brand achieved a 7.6% year-on-year revenue growth, with particularly strong performance in the African and Middle Eastern market. Last month, Super Group opted to remove Betway from the US market, preferring to optimise its geographic focus. More ?
• Rush Street Interactive is mulling over entering the Brazilian online gambling market after reporting a 72.4% revenue rise in its Latin American markets in Q2 2024. CEO Richard Schwartz said on its latest earnings call that a launch in Brazil is in the offing, with the firm awaiting clarity on the market’s regulatory framework prior to a formal application. More ?
• Danish Gambling Authority Spillemyndigheden has confirmed that gross gambling revenue (GGR) was up across all gambling verticals in June 2024. Sports betting in Denmark saw the biggest year-on-year rise, spiking more than 75%, but online casino GGR was the highest total at ￡41.48m. More ?
• Caesars Entertainment has confirmed it has agreed to sell rights to the World Series of Poker (WSOP) property to NSUS Inc, the parent company of online poker room GGPoker. GGPoker, which has been a recent partner of the WSOP, will look to grow the brand’s legacy in the poker world. More

Regulation

• Almost a week after the publication of Brazil’s regulatory framework for online sports betting, three new brands have entered the race to secure a licence. Betsson, F12.bet and Galera.bet have all applied, joining the likes of Betano and Rei do Pitaco which submitted proposals in May and July. More

Technology

• Genius Sports will benefit from new pre-game and in-play player betting markets through its enhanced partnership with Football DataCo. The new deal, which runs through to 2029, will offer additional data on shots on target, assists and pass completions to supplement Genius’ in-play betting product. More

People news

Betway’s Sportsbook Director Jaswant Deol departs after 13 years with the firm

Jaswant Deol has left his role as Sportsbook Director of Betway, a position he’s held since 2015. Deol has worked for 13 years in total as an executive of Betway. Deol initially joined Win Technologies, the operating unit of Betway, in 2011 to assume the role of Head of Sports.

Following a string of successful marketing and customer acquisition and retention campaigns, Deol was promoted to Sportsbook Director four years later.

During his time with the brand, the sportsbook has become the flagship brand of Super Group, underpinning its listing on the New York Stock Exchange in 2022.

Click here to hear more from Deol on his time at Betway and his future plans.

This week’s talking point

New Gambling Minister leaves levy reform on the table during House of Lords debate

Last week, the UK’s new gambling minister Baroness Fiona Twycross set her stall out on British racing during a House of Lords debate on the government’s support for the sport.

Baroness Twycross debated the issue of levy reform with Baroness Dido Harding, the new senior steward of the Jockey Club. Reforms to prevent the sport from suffering financially from the impact of affordability checks were put on hold after former prime minister Rishi Sunak called the July general election.

At the time, many in the world of British horseracing were hopeful a deal on reform was close. In her exchange with Harding and Lord Herbert, Baroness Twycross confirmed the government was committed to ensuring the levy works to underpin British horseracing in the best way possible.

Click here for more on Baroness Twycross’s opening gambit on racing and gambling, including the subject of affordability checks.

This week’s insight

Gambling stocks not immune from the recent stock market sell-off

Monday, 5th August was the worst day for the stock markets since 2022. Amid fears of a deceleration in the US economy off the back of last week’s employment data, equities took a hit across the spectrum, including the gambling sector.

The likes of Wynn Resorts, MGM Resorts and Las Vegas Sands saw their share prices fall to fresh 52-week lows. Caesars Entertainment fell almost 7% in one day, but narrowly evaded its 52-week low.

DraftKings saw its share price decline 0.7%, extending its loss of almost 14% since missing its Q2 2024 earnings target and announcing a new surcharge for bettors in high-tax markets.?

Flutter Entertainment also saw its share price dip by more than 3% during Monday’s trading session.

Click here for the bigger picture on the publicly listed companies in the gambling world right now.