This Week's Sports Betting Update

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 

Westminster debates intrusive affordability checks

There wasn’t a spare seat in Westminster Hall on Monday as MPs debated the prospect of affordability checks being imposed on bettors across the UK.

The high turnout underlined the gravity of the subject, perhaps even more than anticipated. Conservative MP Philip Davies started proceedings with a stirring speech, defending punters and criticising the government for a “completely outrageous” attack on personal freedoms.

Former health secretary Matt Hancock, who is an MP for the Newmarket region, also described the proposals as a “huge mistake”, with Davies and Hancock both fearing a rise in black market use.

Hancock also sought to pressure the government into acknowledging the difference between betting on games of chance (casino) and games of skill (sports betting).

Click here to get the full lowdown on this week’s affordability debate and find out whether any parliamentary momentum has been created following these discussions.

What you need to know

Commercial

• 🇺🇸  Fanatics Sportsbook has received the go-ahead to launch its online sportsbook in the US state of Indiana. Fanatics will directly replace PointsBet in the Hoosier State. Users with existing PointsBet accounts will be migrated automatically to Fanatics Sportsbook, as Fanatics Betting and Gaming continues to phase out PointsBet’s US operations. More

• 🇺🇸  Gross sports betting revenues reached all-time monthly highs in Arizona for December 2023. Although handle fell month-on-month, revenues reached £52.1m, up 22.1% year-on-year. The bulk of revenues (99%) were derived from online sportsbooks, with just 1% derived from retail sportsbooks. More

• 🇩🇰  Sportradar has deepened its partnership with Bundesliga International, a subsidiary of the German Football League (DFL) which oversees the top two divisions of German professional football. Under the terms of its new deal, Sportradar will have data and streaming rights to the leagues until the end of the 2031/32 campaign. More

• 🇦🇺  Betmakers’ H1 23-24 revenue rose 9.9% year-on-year despite the continuation of its restructuring plan. Half-year revenues hit £26.4m for the period ending 31 December 2023. As the firm embarks on streamlining its business model, cuts to its cost base, as well as deals with new and existing clients, helped to buoy the sports betting and technology provider. More

Regulation

• Legal sports betting in the US state of Georgia inched a step closer after Senate Resolution 579 was passed by 41 votes to 12. Under the terms of proposed sports betting in the Peach State, 80% of tax revenues would be ring-fenced for the lottery education fund. Approval at the state house is required next, followed by a public referendum, which would likely be held in November. More

Technology

• Ellipse Entertainment, the parent company of Canadian iGaming brand High Flyer Casino, has joined forces with mkodo to utilise its GeoLocs technology for the Ontario market. The tool, which received GLI certification last year, is now deemed one of the most compliant geolocation tools in iGaming jurisdictions worldwide. More

People news

Catena Media CEO Michael Daly announces departure

Michael Daly has confirmed he is stepping down from his position as chief executive of iGaming affiliate group Catena Media with immediate effect.

In the meantime, the firm’s vice president of corporate strategy, Pierre Cadena, will assume the role of interim CEO, with Daly remaining available during the transition period.

Daly’s departure comes just a fortnight after Catena revealed a below-par set of 2023 fiscal results, with US revenues declining 21% year-on-year.

Click here to get the breakdown of Catena’s 2023 trading year, including a marked decline in new depositing customers through ongoing services.

This week's talking point

The debate over British racecourse revenues and prize-money won’t go away

Racing Post’s industry editor, Bill Barber, commented that it will be 20 years this summer since Peter Savill stepped down as chairman of British racing's governing body, yet he remains an influential figure.

One recent example is ‘Premier Racing’ which contains elements of the so-called ‘Savill Plan’, although it has deviated from his original concept.

Last week, in an interview with the Racing Post, Savill outlined how believes the relationship between racecourses and participants should be revised.

He said that racecourses should be prepared to top slice a percentage of their total racing revenues to prize-money. Crucially, this would be set aside before handling direct costs and overheads.

Savill believes this percentage should be around 33%, which could generate anything between £25 million and £35 million in additional prize-money, thereby increasing the appeal of British racing.

Click here to find out how Savill believes the BHA has an integral role to play if racecourses are to implement his proposals.

This week's insight

How Sportingtech is laying the groundwork for success in Brazil’s new sports betting market

With the Paris Olympics, the UEFA European Championships and the Copa America scheduled this year, 2024 is a big year for the sports betting industry and it’s the perfect time for Brazil to establish a regulated framework for legal sports betting in this football-mad nation.

Online sportsbook platform provider Sportingtech has been scoping the potential of the Brazilian market for the last two years. Tommy Molloy, chief product officer at Sportingtech, believes it has the potential to be the hottest sports betting market on the planet.

Molloy said Brazilian bettors want an accessible, localised sports betting experience, just like any other group of punters. The firm acknowledged the feeling of community and passion among Brazilian sports bettors, especially football bettors. That’s why Sportingtech has honed its Bet Builder and Share-a-Bet functionality to drive engagement and exposure.

Click here to learn more about Sportingtech’s plans for its operations in the Brazilian sports betting market over the next 12 months.

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