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Bet365 ready for action in the USA

Niji Narayan

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Bet365 ready for action in the USA
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Bet365 has signed an agreement with the Hard Rock Atlantic City casino to start sports-betting service in New Jersey.

A letter dated June 25 but published Tuesday by the New Jersey Division of Gaming Enforcement (DGE) contains details of the agreement.

The DGE approved the request for the two parties to enter into an agreement through to July 31 and said that the two parties had signed a letter of intent on June 19. The division added that any request for a renewal would be contingent on Bet365 having fulfilled its filing obligations. For more about the bet365 mobile application click here!

Bet365 – whose rival William Hill was the first operator to take bets legally in New Jersey last month – has applied for a casino service industry enterprise (CSIE) licence.

The Hard Rock Atlantic City casino, formerly the Trump Taj Mahal, reopened a week ago and has also launched its first online gaming website.

 

Source: iGamingBusiness

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

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Gambling in the USA

MGC publishes February GGR for Plainridge Park Casino and MGM Springfield

Niji Narayan

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MGC publishes February GGR for Plainridge Park Casino and MGM Springfield
Photo Source: playma.com
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The Massachusetts Gaming Commission (MGC) has released the financial results of Plainridge Park Casino (PPC) and MGM Springfield for February 2019. The overall Gross Gaming Revenue (GGR) is $34 million.

PPC, a category 2 slots facility, is taxed on 49 per cent of GGR. From the tax, 82 per cent is paid to Local Aid and 18 per cent is allotted to the Race Horse Development Fund. MGM Springfield, a category 1 resort-casino, is taxed on 25 per cent of GGR; those monies are allocated to several specific state funds as determined by the gaming statute.

To date, the Commonwealth has collected approximately $332 million in total taxes and assessments from PPC and MGM since the respective openings of each gaming facility. View comprehensive revenue reports for each gaming licensee here.

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Gambling in the USA

Fantasy Contests revenue drops in Pennsylvania in February

Niji Narayan

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Fantasy Contests revenue drops in Pennsylvania in February
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The Pennsylvania Gaming Control Board has published its Fantasy Contests Revenue Report for February. According to the report, overall Fantasy Contests revenue in February drops to $1,629,178 from $2,116,499 in January 2019.

The report also offers category-wise figures of fees collected from the play of Pennsylvania participants, Fantasy Contests Operators’ adjusted revenue, and tax revenue due to the Commonwealth. Tax revenue is derived through a 15 per cent assessment on the adjusted revenue reported by the Fantasy Contests Operators and is deposited into the Commonwealth General Fund. This resulted in tax revenue generated during February of $244,377.

Fantasy Contests revenue and tax revenue for each of the providers for February 2019 are provided in the following table:

Fantasy Contest Provider February 2019
Fantasy Contests
Adjusted Revenue
February 2019

State Tax Due

DraftKings $906,451.16 $135,967.67
FanDuel $622,815.68 $93,422.35
Fantasy Football Players Championship $47,744.12 $7,161.62
DRAFT $23,948.17 $3,592.23
Yahoo Fantasy Sports $9,726.97 $1,459.05
Sportshub Technologies $6,536.89 $980.53
Fantasy Draft $5,818.57 $872.79
Full Time Fantasy Sports $3,985.25 $597.79
Boom Fantasy $2,151.45 $322.72
Total $1,629,178.26 $244,376.75

 

The report can be found at http://gamingcontrolboard.pa.gov.

 

About the Pennsylvania Gaming Control Board:
The Pennsylvania Gaming Control Board is tasked to oversee all aspects of the state’s casino industry, including sports wagering offered currently at six locations. The oversight also includes other new gaming initiatives, expected to be launched in the coming months, which were created through Act 42 of 2017, an amendment to the Race Horse Development and Gaming Act.
The Commonwealth’s casino industry currently consists of 10 stand-alone and racetrack casinos in operation, along with the two smaller resort casinos. These facilities collectively employ over 16,000 people and annually generate approximately $1.4 billion in tax revenue from slot machine and table games play. The largest portion of that money is used for property tax reduction to Pennsylvania homeowners.

 

SOURCE Pennsylvania Gaming Control Board

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Gambling in the USA

Americans Will Wager $8.5 Billion on March Madness

George Miller

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Americans Will Wager $8.5 Billion on March Madness
Photo Source: streakingthelawn.com
Reading Time: 2 minutes

 

47 Million People Plan to Place Bets on NCAA Men’s Basketball Tournament

 

Americans plan to wager $8.5 billion on this year’s NCAA men’s basketball tournament, with 1-in-5 adults placing a bet, according to a new survey released today by the American Gaming Association (AGA).

Key findings from the survey, conducted by Morning Consult, include:

  • 47 million American adults will wager $8.5 billion on March Madness;
  • $4.6 billion will be wagered on a collective 149 million brackets by more than 40 million people;
  • Nearly 18 million people will wager $3.9 billion at a sportsbook, online, with a bookie or with a friend;
    • 4.1 million will place a bet at a casino sportsbook or using a legal app;
    • 2.4 million will bet illegally with a bookie; and
    • 5.2 million will bet online, likely at illegal offshore sites.
  • The plurality of bettors favors Duke (29%) to win, followed by Gonzaga (9%), North Carolina (8%), Kentucky (7%), Virginia (5%) and Michigan (5%).

“During this year’s tournament – the first in post-PASPA America – sports fans are expected to bet 40% more than they did on this year’s Super Bowl,” said Bill Miller, AGA’s president and chief executive officer. “Unlike any other sporting event in the country, March Madness attracts millions who fill out brackets, make casual bets with friends or wager at a legal sportsbook, which Americans can now do more than ever before.”

Since the U.S. Supreme Court’s ruling in May 2018, more than $5.9 billion has been wagered in the now-eight states with legal, regulated sports betting, enabling consumer protections and generating valuable tax revenue for state, local and tribal governments across the country.

“These results indicate there’s still work to do to eradicate the vast illegal sports betting market in this country, and we’re committed to ensuring sound policies are in place to protect consumers, like the 47 million Americans who will bet on March Madness,” continued Miller.

Sports betting legalization is currently being considered in 23 states across the country.

Methodology

This survey was conducted on behalf of the AGA by Morning Consult between March 1-7, 2019, among a national sample of 11,002 adults. The interviews were conducted online, and the data were weighted to approximate a target sample of adults based on age, race/ethnicity, gender, educational attainment and region. The margin of error is +/- 1% and greater among subgroups. Bettors include those who expect to place a bet online, with a bookie, with a casino sportsbook, casually with a friend or participate in a bracket contest.

 

About AGA

The American Gaming Association is the premier national trade group representing the $261 billion U.S. casino industry, which supports 1.8 million jobs nationwide. AGA members include commercial and tribal casino operators, gaming suppliers and other entities affiliated with the gaming industry. It is the mission of the AGA to achieve sound policies and regulations consistent with casino gaming’s modern appeal and vast economic contributions.

Source: American Gaming Association

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