This Week's Sports Betting Update

Hello, 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 

New bill could redefine the online sports betting market in Washington, D.C.

A Councilman in Washington, D.C. has filed a bill that would enable a more competitive online sports betting market. Kenyan McDuffie is keen to increase competition in a market where residents currently have just one option for placing sports wagers online.

The only available route at the time of writing is via GambetDC, which has come in for criticism almost from the moment it went live. Players have cited poor odds, weak market coverage and inadequate user experience when using the GambetDC platform, overseen by Intralot.

McDuffie’s bill would enact a new Class C licence for the state, enabling external operators to serve the people of Washington, D.C. McDuffie believes this would stop citizens from crossing the border into Maryland and Virginia to place licensed sports bets online, keeping more tax revenue for the district.

Click here to learn more about the tax revenues generated by GambetDC since its launch in May 2020.

What you need to know

Commercial

• 🇺🇸  Inspired Entertainment has said it anticipates revenue and adjusted EBITDA falling in line with earlier guidance in the final quarter of its 2023-24 trading year. The Q4 figures are expected to be delayed following a wider review of the company’s accounting policies. More

• 🌐  Sportradar’s FY23 revenues reached the upper end of its earlier guidance, totalling £749.6m. The firm cited 30% year-on-year US-based growth, as well as 20% year-on-year rest-of-the-world growth as the main reason for hitting the higher end of their guidance range. More

• 🇺🇸  Online sportsbooks in Massachusetts posted a sports betting handle totalling £4.68bn during the opening 12 months of its market. Earlier this month, Betr and WynnBet closed down their online sportsbook operations in the Bay State, reducing the number of active operators to six. More

• 🇺🇸  Gambling.com Group has confirmed it has sealed a new credit facility for up to £39.4m. Under the terms of the agreement, Gambling.com Group will have access to £19.7m in revolving credit and the remaining half via a term loan facility through Wells Fargo Bank. More

Regulation

The National Collegiate Athletic Association (NCAA) has unveiled its new ‘Draw the Line’ campaign aimed at improving awareness of sports betting and gambling harm risks among student athletes. The launch coincides with the opening week of the men’s and women’s Division I NCAA Basketball Championships. More

Technology

Spotlight Sports Group’s Smart View proved to be a roaring success at the 2024 Cheltenham Festival. The Smart View screens, powered by Racing Post, demonstrated their predictive prowess by posting a 30% strike rate across the four-day festival. Betting at level stakes, this would have generated a 76% return on investment for punters. The technology is now live in 1,000 retail betting shops across the UK and Ireland. More

People news

Svenska Spel announces double senior management appointment

Swedish gambling regulator Svenska Spel has confirmed the appointment of two new senior managers. Lovisa Ekman has joined as the new head of IT, while Mikael Franzen becomes the new head of gaming responsibility and data-driven transformation.

Since the autumn, Svenska Spel has been plotting to futureproof its operations. Ekman assumes her new role from 1 April, having been head of corporate IT for the last three years.

n fact, Ekman is stepping into the shoes of Franzen, who vacates the role of head of IT to head up the organisation’s department for gaming responsibility and data-driven transformation.

Click here to hear from Svenska Spel CEO and president, Erik Strand, on the latest senior reshuffle. 

Creative ad agency The Tenth Man appoints industry heavyweight Gethin Evans

Expanding its global footprint, The Tenth Man, a notable creative and advertising firm, launched its London operations on 20 March 2024, appointing gambling industry veteran Gethin Evans - formerly of Paddy Power Betfair (now Flutter Entertainment) - at the helm. 

This move addresses the escalating demand for creative solutions that align with regulatory standards in the UK's dynamic sports betting market.

Through Evans' guidance, the agency aims to leverage its international expertise, enhancing service delivery to both longstanding and new clients in a competitive environment.

This week's talking point

Gambling Minister confirms new sports sponsorship code has been agreed

The UK’s Gambling Minister, Stuart Andrew, confirmed last week that a new sports sponsorship code has been quietly agreed by the leading sports bodies, including the British Horseracing Authority (BHA).

Following a debate in Westminster Hall on gambling advertising, Andrew revealed a cross-sport code of conduct had been agreed for gambling sponsorship. This included the Premier League, the English Football League, the BHA and the England and Wales Cricket Board.

The new code will tie all governing bodies of domestic sport to four key principles – socially responsible marketing, reinvestment into the respective sports, protection of minors and vulnerable people and maintaining the integrity of the sports in question. Andrew added the individual bodies will also be integrating their own ‘bespoke’ arrangements’.

Click here to read more about Andrew’s latest speech on gambling sponsorship, with social responsibility at the heart of his message.

This week's insight

Lifting the lid on Sportsbook Tech Day

On 20 March, 2024, the SBC Digital Innovation – Sportsbook Tech online conference was held in conjunction with Soft2Bet. Speakers from a string of leading sportsbook operators shared their insights on the future of the sector’s core technologies.

The day featured five sessions spanning the biggest events in this year’s sporting calendar, namely Euro 2024, the Paris Olympics and the Copa America.

One of the main talking points was the future of sports betting’s fastest-growing product, the so-called ‘Bet Builder’. Additional sessions covered issues such as how to drive engagement for the summer’s football tournaments, with dedicated online casinos keen to leverage their player base across multiple verticals. The day concluded with a discussion on the impact of AI on sportsbook trading rooms.

Even if you may have missed out on watching the conference live, it’s not too late to catch up on the industry debate.

Click here to register for SBC Digital Innovation – Sportsbook Tech and you can watch the sessions on-demand.

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