08.12.2022. Daily highlights

Fri Aug 12, 2022
  • California sportsbook opposition grows as we get closer to the election month.

    California online gambling voting

    As there are only some months left until California is voting for Online gambling legalization. This week the debates stirred up as Republicans and the teachers federation joined the proposal’s opponents. The California Federation of Teachers (CFT), which represents 120,000 education workers, joined with fellow teaching union, the Association of California School Administrators (ASCA), which represents 17,000 education personnel, in opposing this proposal (Proposition 27). They claimed sports betting could be “highly addictive” for children and vulnerable group and suggested that it would jeopardize education funding.

    The democratic party in the state previously said they would remain neutral in this matter, however, recent statements suggest that certain democratic politicians have moved from a neutral stance to outright opposition. Senate Republican leader Scott Wilk explained that this proposition eliminates the sovereign right of California tribes to operate gaming in California and James Gallagher added that it would threaten the current system, which is confirmed by voters, that grants tribes to use their lands to be self-reliant and provide tremendous benefit to the communities.

    Source: EGR.global

    Massachusetts: 36th state to allow anyone at least 21 years old to bet on sports.

    It looks like the launch of Sportsbook in Massachusetts will take more time than expected. It will probably take until It may take until October to kick off the process that will be implemented. After it’s done, any operator of a land-based casino or racetrack will be eligible to get a license, and there will be an additional 7 online-only licenses with a $5m license fee. To add, Online betting will be taxed at 20% and retail at 15%.

    Quoting commissioner Bradford Hill highlighted that it was important that the state produces a strong set of regulations despite a possible delay in launching. “If we are going to do this right, we need to take our time a little bit,” he said. “I’ve seen some folks in the newspaper that hope to have this up and running ina conciset amount of time, and I just want the public to know that in my view – and this is my view, not necessarily that of the Commission – this is going to take a little bit longer, and I’m okay with that because I want to do it right. I think the public needs to understand that this is quite a process we need to go through.”

    Source: IGBnorthamerica

    Jake Paul is on fire!

    Influencer Jake Paul and Simplebet co-founder raise $50m for micro-betting site “Betr”, receiving funds from sports betting and media celebrities, including owners of the Boston Celtics and San Francisco 49ers, as well as NFL, stars Richard Sherman and Ezekiel Elliott and musician Travis Scott. The new micro-betting app created by Simplebet co-founder Joey Levy and social media personality Jake Paul is to be released within the next few weeks, and it’s taking the internet by storm. To start with, this app will allow making instant bets while watching games and it will be free-to-play,  as the operator does not yet have any licenses, and it will use Simplebet’s technology in its operations.

    As they promote it, the app will be a user-friendly and intuitive User Interface Layer. “Micro-betting introduces an order of magnitude greater level of instant gratification to the current sports betting user experience.”

    Add, there will also be a series of shows hosted by Paul, who claimed: “Micro-betting is the TikTok-ificatioBetr Jake Pauln of sports betting and I am excited to bring it to the masses through Betr.”

    Source: IGBnorthamerica

    US gaming revenues set a new record.

    US commercial gaming revenues reached $14.8bn in Q2, an all-time quarterly high! The American Gaming Association explained that the Q2 of 2022 was even 3% better than Q4 of 2021. A total of $29.18bn was generated in the H1 of 2022, up nearly 18%, and the AGA said that the year was closing in to set a new annual record for commercial gaming revenue for the second consecutive year.

    Quoting CEO Bill Miller: “Q2’s results mark a 16-month period of gains for commercial gaming. With increasingly difficult year-over-year comparisons, our strength through the first half of 2022 reflects sustained consumer demand for legal options as well as gaming’s record popularity.”

    Source: intergameonline.com

    FanDuel: 9% annual revenue increase, market share goes up to 51%.

    We have gone over FanDuel results for H1 of 2022, and they are showing a 9% year-on-year revenue increase to $4.12bn. The increase in the revenue was mainly driven by 1.1 million new customers, gained through aggressive marketing campaigns.

    Flutter (owner of FanDuel) CEO Peter Jackson commented that the H1 of 2022 was positive for the group, with significant progress made against the company’s strategic objectives in March. “We are particularly pleased with the momentum in the US where we extended our leadership in online sports betting with FanDuel claiming a 51% share of the market and number one position in 13 of 15 states.” Read our FanDual Casino nj review here!

    Source: gamingamerica.com

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