In its new “Gambling Disorder Treatment Outcomes” report, the Tennessee-based provider of mental health services noted that clients faced symptoms such as major depression/suicidal tendencies and obsessive-compulsive behavior stemming from problematic betting habits, and that men were significantly more vulnerable to those feelings than women. Kindbridge further pointed out that 33% of male bettors felt severely depressed compared to 12% of women betters feeling the same way. Nearly 76% of those surveyed were men.

Kindbridge observed that a 12-week regimen of telehealth services proved highly effective in reducing some of the worst psychological issues faced by those with compulsive wagering patterns.

The average score decreased significantly from 8.9 (mild depression) to 3.1 (minimal to no depressive symptoms) over four assessments conducted over a 12 week period, achieving a 65.2% reduction, surpassing the standard industry benchmark of a 50% reduction in scores,” according to the healthcare provider.

Kindbridge, which is the largest operator of mental health networks with an emphasis on problem betting, added that those stuck with the 12-week telehealth treatment option experienced a 76.5% drop in anxiety stemming from wagering.

Many Bettors Want Help

At a time when there’s increasing evidence that online sports betting, which isn’t the only source of compulsive wagering, is weighing on personal finances, there are some encouraging signs. Kindbridge noted that many of its clients dealing with over-the-top betting issues are ready for treatment.

“An increase in individuals arriving with a 10/10 rating on the readiness to change scale has been observed, attributed to the direct connection with Self-Exclusion programs offered by casino operators. These individuals access treatment at a critical time when they are most ready to engage, and a large portion of them follow through with the program,” observed Kindbridge.

Kindbridge has relationships with some of the largest online betting companies, including BetMGM and DraftKings, that allow clients who are worried about their habits to reach out to the mental health provider through those wagering platforms.

Examining Comorbidities of Problem Betting

Conventional wisdom has long held that two of the primary comorbidities of compulsive wagering are high levels of alcohol consumption and tobacco addiction. While 25% of clients examined by Kindbridge acknowledged concerning drinking patterns, and another 24% said they’re frequent tobacco users, those aren’t the top comorbidities associated with problem betting.

Kindbridge noted that major depression (47%) and obsessive-compulsive disorder (47%) are the top comorbidities associated with out-of-control betting. Those were followed by hyperactivity (42%) and insomnia (42%).

Along with those four, generalized anxiety disorder, social phobias, and high levels of irritability ranked higher as compulsive betting comorbidities than alcohol and tobacco use. Fortunately, there’s hope for bettors looking to regain control, and telehealth treatment can help.

“Significant improvements were evident after just 8 weeks of treatment, with exceptionally positive results at the 12-week mark,” concluded Kindbridge. “These outcomes validate the effectiveness of teletherapy in addressing both gambling behaviors and associated mental health conditions. Continued support and resource allocation are essential to sustain recovery and enhance the quality of life for individuals affected by gambling disorders. Future reports will include data specific to gambling harm symptoms as it becomes available.”

The post Telehealth Effective in Treating Problem Betting, Says Kindbridge appeared first on Casino.org.

In March, Skillz filed a federal lawsuit against Papaya on claims that the latter company uses computer bots in its supposedly peer-to-peer skill games that are contested between players for real money. Papaya is one of many developers that publishes its skill-based games on the Skillz platform.

Papaya says nowhere did it advertise or disclose that bots were never used, but maintains that its games are fair and that “quick matchmaking is a feature that certain skill-based mobile gaming platforms seek to offer to players.” Papaya says it uses a matchmaking algorithm that expedites the pairing process and that bots are only used during tutorials for new players to learn gameplay.

Papaya Counterclaims?

Skillz is on a legal crusade to restore the credibility of the mobile skill game industry. It’s trying to accomplish that mission through the court system.

A separate class-action lawsuit regarding Avia allegedly using bots is ongoing. A proposed class-action lawsuit against Papaya for bot use is additionally underway.

Skillz argues Papaya, like Avia, as well as Voodoo Gaming, which Skillz is also suing, uses bots. Papaya counters that it doesn’t, and that Skillz’s false allegations amount to a smear campaign. Papaya’s response cited Skillz’s creation of a “fabricated website” called 4FairPlay.org that communicates false allegations against Skillz’s competitors.

Skillz has furthered this false narrative in several ways, including launching a fraudulent website from the shadows, presenting wholly fabricated data concerning customer ‘complaints’ about Papaya, and seeking to weaponize state agencies to pursue investigations of Skillz’s competitors,” the counterclaim read.

The response added that Skillz is deceiving customers by falsely claiming that its platform is “absolutely free of computerized opponents” and that Papaya “previously admitted to bot use.”

Jury Trial Likely

As was the case in the Skillz v. Avia lawsuit, the case against Papaya is expected to go to a jury trial, which both sides have requested. A Papaya spokesperson told Casino.org that the company will vigorously defend its operations and plans to expose Skillz’s smear campaign.

The counterclaims allege that Skillz has engaged in a pattern of tortious and deceptive conduct. The counterclaims describe how — with its business performing poorly — Skillz embarked on a deceitful campaign against Papaya by falsely claiming that Skillz is a virtuous crusader for fairness while accusing others of the same type of deceitful conduct they are engaging in themselves. That behavior is the height of hypocrisy,” the statement read.

The counterclaims additionally contend that Skillz knowingly infringed on Papaya’s intellectual property in developing its own games, promised customers easy access to deposited funds while customers complained of delayed withdrawals, and routinely touted its games as “bot-free” while seemingly turning a blind eye to bot use on its platform.

The post Papaya Gaming Rejects Bot-Use Claims Alleged in Skillz Lawsuit appeared first on Casino.org.

The move, which has long been mooted in Boston, will “allow the lottery to keep pace with its competition and reach a new audience,” according to Massachusetts State Lottery Commission Chair Deborah Goldberg. A portion of the revenues from the online lottery will, by law, go toward supporting the state’s early education and care programs.

The “competition” Goldberg refers to is sports betting, which Massachusetts legalized in August 2022. Lottery officials have in the past expressed concern that the state’s new online sports betting market will eat into lottery revenues.

Equal Footing

Lottery Executive Director Mark Bracken told MassLive Monday that transferring the lottery online and introducing new products like instant-win tickets will place it on an equal footing with sportsbook operators.

While the age requirement for retail lottery games will remain 18, players will have to be at least 21 to play online, as is the legal age for sports betting.

The Massachusetts Lottery’s fears of cannibalization from sports betting have proved to be unfounded thus far. In 2023, the first year it experienced competition from online sportsbooks, the lottery posted a record profit of $1.17 billion on revenues of over $6 billion. The online platform is expected to pull in another $100 million a year.

Supplier Sought

Bay Staters will have to wait a while before the online service is up and running. The lottery first needs to launch a procurement process to find a supplier. The good news is that the MA Lottery app and Mass Lottery website were built with the capability to accommodate a future online lottery, and they already have 350K registered, age-verified players.

Bracken estimates that the whole process will take about 16 months, which means the platform should be ready to go live before the end of next year.

Bracken also addressed concerns that the online lottery would eat into land-based retailer revenue. He explained that there are plans for a player rewards system that would drive online players to brick-and-mortar stores. Although the finer points still need to be worked out, he added he believes an online lottery could increase footfall in land-based stores.

“It’s really a win-win for everyone,” he assured MassLive.

The post Massachusetts Online Lottery Legalized for Late 2025 Launch appeared first on Casino.org.

In a post on X, formerly Twitter, the gaming company said that as of 8 pm Eastern time today, bettors with SuperBook mobile wagering accounts in eight states will no longer be able to place sports bets. Those patrons are free to withdraw their funds immediately.

We regret to inform you that SuperBook Sports will no longer be accepting wagers, deposits or new accounts in Colorado, New Jersey, Arizona, Tennessee, Ohio, Iowa, Maryland and Virginia effective July 19, 2024 at 8:00pm ET,” according to the social media post.

The SuperBook Nevada mobile betting app will remain operational and the famed SuperBook sportsbook at the Westgate Las Vegas Resort & Casino will remain open. The post didn’t mention the fate of the SuperBook retail location at The Lodge Casino in Black Hawk, Colo.

With SuperBook Out, Another One Bites the Dust

SuperBook Sports is the latest online sportsbook operator to throw in the towel in the US and the news arrived less than two weeks after Super Group (NYSE: SGHC), the parent company of Betway, made the same announcement.

SuperBook Sports’ struggles to capture to adequate market share are a familiar refrain in the industry — one increasingly dominated by DraftKings and FanDuel. In report published earlier this week, JMP Securities estimated that in the second quarter, those two operators combined for 74.5% of US sports wagering handle. BetMGM was third at a scant 7%.

That underscores the point that even gaming companies with strong brand recognition are finding it difficult (and expensive) to compete with the pair of aforementioned behemoths.

SuperBook Brand Didn’t Catch On Outside of Vegas

For many locals and visitors to Las Vegas, the SuperBook at the Westgate is viewed as a staple on the Sin City sports wagering scene. The sportsbook there has been operational for more than 35 years and at over 35,000 square feet, is one of the largest venues of its kind in the world.

The SuperContest and winner-take-all SuperContest Gold are among the most popular annual football wagering contests and Jay Kornegay and John Murray are two of the biggest names in the business. Kornegay makes frequent media appearances and SuperBook odds are widely cited in sports media circles confirming that the SuperBook brand is recognized by those in the know in the sports betting space.

Even with those credentials, the operator wasn’t able to adequately compete with the two big names in the domestic online sports wagering industry.

The post SuperBook Sports Latest Casualty in US Sports Betting Biz appeared first on Casino.org.

It was believed Bowser would sign the new budget into law on Monday, ushering in a new era of mobile sports wagering in the nation’s capital in which the market would expand beyond a mobile betting monopoly briefly held by FanDuel. Last week, BetMGM announced plans to launch mobile betting in the District on July 15, and it was reported that Caesars Sportsbook would join that party. Those operators didn’t debut in the city and on Tuesday, FanDuel went dark there because Bowser sent the budget back to the City Council, balking at proposed tax hikes.

I cannot support a budget that needlessly increases our residents’ property and income taxes, raises the paid family leave tax to untested levels, or harms our public schools,” wrote Bowser in a letter to Council Chairman Phil Mendelson Tuesday.

The mayor hasn’t officially vetoed the budget and even if she doesn’t sign it, the measure would automatically go into effect on July 25. After that, Congress would have a month to review it and if it doesn’t pass muster there, Bowser and the Council would have to go back to the drawing board.

FanDuel Shows Some Commitment to DC

In late June, the Council added an amendment to the fiscal 2025 budget proposed by Council member Kenyan McDuffie (I-At Large) to expand DC’s mobile sports wagering market. The amendment paves the way for up to seven gaming companies to hold sports betting permits in the District.

In the brief time since that transition, FanDuel has delivered gross gaming revenue (GGR) and handle well in excess of the pace set by GambetDC, thus delivering more tax receipts to the city. In the face of the budget hiccup, FanDuel reiterated its commitment to the District.

“FanDuel remains committed to providing the District and its residents with a best-in-class sports betting offering. Upon final approval of the FY2025 DC Budget, FanDuel will resume its sports betting offering as a Class A operator in partnership with DC United at Audi Field and continue to offer our citywide mobile app to the District of Columbia,” said the gaming company in a statement distributed to press outlets.

Not the Worst Time for DC Sports Betting Outage

Assuming the budget situation is quickly rectified, this isn’t the worst time for DC to be without a mobile sports betting option. Major League Baseball started its all-star break on Monday, and that runs through Thursday. There are no other major team sports currently in season.

The proposed budget calls for $21 billion in spending in 2025.

The post FanDuel Temporarily Goes Dark in DC as Bowser Has Yet to Sign Budget appeared first on Casino.org.

Starting Monday, BetMGM will be live with mobile betting in the District and there are indications Caesars Sportsbook will also be available citywide on July 15. Currently, BetMGM runs a retail sportsbook at Nationals Park and can offer mobile wagering within two blocks of the stadium. Likewise, Caesars runs a retail book at Capital One Arena and, like rivals that aren’t FanDuel, is limited in the scope of its Washington, DC sports betting expanse.

In May, BetMGM, Caesars, DraftKings, and Fanatics were among the gaming companies that testified before the city council’s Business and Economic Development Committee in a bid to get the council to open the market.

FanDuel Probably Not Pleased

FanDuel, a unit of Flutter Entertainment (NYSE: FLUT), likely isn’t keen on Washington opening its mobile wagering market to competitors.

Not surprisingly, FanDuel previously indicated to the DC Office of Lottery and Gaming (OLG) that would seek to scrap its agreement with the city if the sports betting market was opened to other entrants. Flutter has yet to publicly comment on DC’s expansion plans, but FanDuel has made clear to the City Council that it has the right to terminate its contract.

“Should Subtitle R be enacted, FanDuel will transition its operations in the District under its Class A license under the new regime consistent with its pre-existing contractual relationship, and invoke its termination right under the subcontract,” wrote FanDuel President Christian Genetski in a June letter to councilmembers.

DC Sports Betting Expansion Could Harm Kiosk Operators

Retail businesses such as bars and restaurants that are home to more than 60 sports betting kiosks across the District previously told the city council that they’re fearful that broader expansion of the city’s mobile sports betting market could pinch the revenue they generate from those machines.

FanDuel previously told the council that it would not support those machines if the market is opened to other competitors.

Speaking of those rivals, it’s possible that DraftKings and Fanatics could enter the DC market as well, but they need to partner with a professional sports team there. BetMGM and Caesars already have those relationships, hence they can commence with offering mobile sports wagering next week.

The post BetMGM, Caesars Join Washington, DC Sports Betting Expansion appeared first on Casino.org.

In a federal lawsuit filed in New York’s Southern District Court, Skillz alleges that Voodoo, a skill game developer based in Paris, France, duped customers into thinking they were competing against real human opponents. Skillz contends they were instead playing against computer bots developed by Voodoo that made winning nearly impossible.

Skillz was a pioneer of mobile skill games, launching its proprietary platform in October April 2013 from its Boston headquarters.

In more recent years, Skillz opened up its platform to third-party game developers like Voodoo. In its lawsuit, Skillz claims it did so to “maximize the impact and reach of its innovation,” but the firm also generates revenue by lending its mobile app platform to third parties.

Voodoo claims its more than 200 games have been downloaded seven billion times and that there are 150 million monthly active users on the platform.

Unlawful Conduct, Fraud?

Skillz says Voodoo knowingly committed fraud in falsely advertising that its mobile games offered through its Blitz Win Cash apps were “fair” and “skill-based.” Skillz alleges that the games were instead fixed in its favor. ?

While Skillz charges a small commission for facilitating games and pairing players, the prizes won by the players are put up by the players themselves. In Voodoo’s case, Skillz claims it charged a commission and then regularly took the prize money from the human player after its bots won the match. One of Skillz’s more popular games is 21 Blitz, which the company says Voodoo cloned and altered with the use of bots.

Voodoo, like with a number of more recent entrants to the mobile gaming market, capitalized on Skillz’s success by launching the application Blitz Win Cash, which offers imitations of Skillz’s games, with similar objectives, gameplay, and financial stakes for players. Although Voodoo advertises that ‘everybody has an opportunity to win!’ when playing its games, the outcome of its games are manipulated and controlled by Voodoo,” the complaint alleged.

“By using algorithms to control the rate at which players win, Voodoo can maximize its profits by letting players win just enough that they don’t quit and leave the platform altogether,” the lawsuit continued.

Prayers for Relief

Skillz alleges that Voodoo deceived thousands of customers and damaged the reputation of the skill game market. Skillz says Voodoo also cost it market share, revenue, and profits.

Skillz is seeking actual, compensatory, consequential, and punitive damages, plus lost revenue and profit compensation.

AviaGames remains the subject of a class-action lawsuit from angry customers who believe they were duped into thinking they were playing against real human competitors. A third skill game developer, Papaya Gaming, is the subject of another class-action lawsuit for the alleged use of bots.

The post Skillz Sues Skill Game Competitor Voodoo for Allegedly Using Bots appeared first on Casino.org.

Developed with Ruby Seven Studios, an interactive social gaming company headquartered in India but with a US office in Reno, Bally Play offers an array of digital slot machines, table games, keno, video poker, and bingo. The social casino is available on the web at BallyPlay.com and via mobile through iOS and Android apps.

As part of our growth strategy, we have been seeking to complement our brick-and-mortar and interactive gaming offerings with a social casino,” explained Sina Miri, chief product officer of Bally’s Corporation.

Bally Play debuted with over 100 interactive slot titles, 50 versions of video poker, and blackjack and roulette table games. The Ruby Seven Studios social casino includes games developed by several leading manufacturers, including IGT, Everi, Aruze, and Konami.

Driving Customer Growth

Rhode Island-based Bally’s Corporation owns and/or operates 16 commercial brick-and-mortar casinos in nine states. The company’s online gaming unit, Bally’s Interactive, is licensed for real-money online gambling in New Jersey, Pennsylvania, and Rhode Island.

Bally’s continues to struggle to secure the $800 million in financing it needs to build its $1.1 billion integrated resort casino in downtown Chicago at the Freedom Center. Bally’s is also pursuing new casino developments in Pennsylvania, Missouri, and New York.

Launching a social casino, Bally’s reps believe, will help the company foster new customers.

Working with Ruby Seven Studios has allowed us to create a unique, best-in-class social casino experience for our existing players and can help us attract new players,” Miri explained.

While Bally Play is initially free to play, Bally’s is expected to generate revenue from the product. New players on the Bally Play platform are afforded an initial allotment of 50K coins. The social casino additionally provides coin bonuses as players reach new levels that open up more slot and table game titles. Players also receive free coins based on their overall time spent and frequency of play.

If a player manages to lose all of their free coins, Bally Play allows users to purchase gameplay tokens. The platform is currently running a coin special where players can obtain two million coins for $9.99.

Marketing Tool

Bally Play provides Bally’s with valuable insights into what games are resonating and will help the company with its marketing initiatives.

Many other major casino operators also run social gaming websites and apps. Along with Bally’s, Hard Rock recently formed a social gaming division called Hard Rock Games. The business unit was created after Hard Rock acquired WGames, a mobile gaming company that specialized in free-to-play titles.

The post Bally’s and Ruby Seven Studios Launch Free-to-Play Social Casino Platform appeared first on Casino.org.

Earlier this week, representatives from BetMGM, Caesars Sportsbook, DraftKings, and Fanatics Betting & Gaming gave testimony before the Washington, DC City Council’s Committee Business and Economic Development Committee. Council member Kenyan McDuffie (I-At Large) sits on that committee. In March, he proposed the Sports Wagering Amendment Act of 2024, which if approved, would expand the field of gaming operators permitted to offer mobile betting in the District.

While the transition from the controversial GamBetDC mobile application to FanDuel is widely viewed as a smart move by the DC City Council, some operators caution the city is still vulnerable to missing out on important revenue by allowing an online sports betting monopoly.

Consumers are either traveling to the surrounding states to wager or, worse yet, placing wagers in the illegal offshore market, where there are no responsible gaming protocols to protect customers,” said Brandt Iden of Fanatics at the city council meeting.

He added that almost two-thirds of the operator’s customers from Maryland and 10% of those from Virginia have attempted to access the app in DC.

Stumbling Blocks to Opening Washington, DC Sports Betting Market

While FanDuel is now the lone mobile sports betting offering in Washington, the unit of Flutter Entertainment attained that status because Intralot — the Greek company behind GamBetDC — outsourced its responsibilities to FanDuel.

Barbara Lang, the former CEO and president of the Washington, DC Chamber of Commerce, told the council that the sports betting kiosks are important customer attraction and retention tools for some small businesses.

“A competitive, mobile-dominated system would completely squeeze out retailers looking to generate revenue from in-person gaming,” she told the committee.

Operators Looking to Expand DC Footprints

All of the gaming companies mentioned here offer mobile sports betting in Maryland and Virginia. In the cases of BetMGM and Caesars, they run retail sportsbooks at stadiums in the District, but like their rivals, they want what FanDuel has: mobile betting access.

“I think the District of Columbia, the nation’s capital, should be in a better situation today, on May 6, than we are,” the councilman said at the meeting. “We should not have to make a decision under duress about generating revenue with a company that has failed miserably at managing our sports wagering operation. I think there’s a case to be made that they shouldn’t be a part of it.”

The post Caesars, DraftKings, Others Want Competitive Washington, DC Sports Betting Market appeared first on Casino.org.

The push comes after a previous bill sponsored by Addabbo, which would have legalized online casino gaming and online poker, failed to gain enough support and was excluded from Gov. Kathy Hochul’s (D) budget in January.

That said, previous standalone online poker bills haven’t fared very well either. Addabbo or his committee chairman predecessor, now-retired State Senator John Bonacic, have been trying to legalize the online game almost every year since 2014.

Historically, these bills have fared well in the Senate but have come up short in the Assembly, where they have been championed each year by Assemblyman Gary Pretlow (D-89th).

Tax Halved

Addabbo’s bill would create as many as 10 online poker licenses, charging operators $10 million each. Revenues would be taxed at 15%, half the figure proposed by his online casino and poker bill.

The legislation would task the New York Gaming Commission to come up with the fine details and draw up a framework of regulation for the proposed future market.

Instead, the bill focuses on the justification for defining online poker as a game of skill. Addabbo notes that a New York federal court has ruled that poker is predominantly a skill game.

Meanwhile, state courts have interpreted New York law to apply a more rigorous test in identifying a contest of chance that is applied by most states in the nation, Addabbo asserts.

“As the internet has become an integral part of society, and internet poker a major form of entertainment for many consumers … regulatory oversight [is needed] to safeguard the integrity of the games and participants and to ensure public trust,” he writes.

Late to Party

The advantage of the legislature classifying online poker as a “nongambling” game of skill is that the bill would theoretically not need to be approved by a public vote, since gambling expansion requires an amendment to the constitution.

Addabbo’s bill is a latecomer to the state’s legislative session, which will recess June 6, although as a legislative leader, Addabbo could recall lawmakers for an extraordinary session.

The post New York Bill Says Online Poker is a Skill Game appeared first on Casino.org.

The regional casino operator made the announcement earlier today, though some media outlets reported LaBerge left Disney for unspecified personal reasons. In his role as Penn CTO, LaBerge will report directly to CEO and President Jay Snowden.

In his new role, Mr. LaBerge will be responsible for driving the technology strategy and execution for PENN, while leading the multinational team of technologists and serving as the key business leader for the company’s Interactive division,” according to a statement issued by Penn.

LaBerge joins Penn at a time when the interactive division, including the ESPN Bet sports wagering mobile application, is struggling to reach profitability and gain market share. Some analysts estimate ESPN Bet is on track to post a larger-than-expected first-quarter loss. Penn is slated to deliver results for that three-month period on Thursday, May 2.

LaBerge Could Be Smart Hire for Penn

Overall, LaBerge spent more than 20 years with Disney across two stints with the media and entertainment conglomerate.

In his most recent role at Disney, LaBerge “helped set the vision and strategic leadership for how Disney uses technology to enable storytelling and innovation, drive its business, and create unparalleled consumer experiences with entertainment and sports content,” according to the statement.

LaBerge served as executive vice president and CTO of ESPN from 2015 to 2018, overseeing the development and growth and of many of the network’s now highly popular consumer-facing digital content offerings.

LaBerge Could Be Vital in Driving ESPN Bet Growth

ESPN Bet debuted last November and while the app is outperforming predecessor Barstool Sportsbook in terms of market share, there’s still room for improvement, including on the technology front. That could be a sign that hiring LaBerge was a shrewd move by Penn.

The addition of LaBerge could be all the more pivotal for Penn at a time when some analysts believe ESPN Bet is trailing rivals when it comes to profit-generating parlays, which are heavily rooted in technology. LaBerge’s background suggests he could help ESPN Bet on that front.

“He was a key architect in the design, development, and engineering of ESPN’s state-of-the-art facilities in Bristol, CT; Los Angeles, CA; Charlotte, NC; and Austin, TX, as well as data centers and infrastructure that connect those facilities around the world, as well as the technology design and development to support the launch of the multi-platform SEC Network,” added Penn in the press release.

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Fresh off a February lawsuit against AviaGames in which a jury awarded Skillz Gaming nearly $42.9 million after determining that AviaGames infringed on Skillz’s patent-protected platform, Skillz attorneys turned their attention to Papaya. Skillz is suing Payapa in federal court over the alleged use of computer bots.

In a separate federal complaint provided this week to Casino.org?by law firm Burns Charest, LLP, plaintiff Brenna Kelly-Starkebaum, on behalf of a proposed class, also alleges that players aren’t actually competing against other humans on Papaya’s games such as Solitaire Cash and Bubble Cash. Kelly-Starkebaun’s complaint was filed late last month.?

“Papaya is a leading provider of online games where users purportedly compete in games of skill against other real people for money. Papaya claims to have no vested interest in who wins or loses,” the complaint begins.

Papaya users collectively have wagered hundreds of millions of dollars to compete in these games of ‘skill’ against what Papaya misleadingly advertises are other actual human users. However, Papaya controls the outcome of the games and uses its own bots to play against players to win, after which Papaya keeps the prize money for itself,” the lawsuit alleges.

The plaintiff is seeking a jury trial for the proposed class.?

Papaya Gaming stated Casino.org?denying any wrongdoing.

Papaya is one of the world’s largest skills-based mobile game developers — on a mission to bring more fun challenges to the world. We are absolutely committed to fair and enjoyable skills-based mobile gaming that rewards the abilities of our players. This legal action has no merit, and we will vigorously defend against any and all baseless claims,” the Papaya release said.?

Alleged Bot Use Widespread?

Kelly-Starkebaum’s attorneys argue that Papaya players aren’t competing peer-to-peer but against Papaya’s bots. For the facilitation of the supposedly head-to-head skill game contests, Papaya charges a small commission, not unlike how a casino does while running a poker game.

“It’s not about chance. It’s about skills,” Papaya contends. Kelly-Starkebaum says otherwise.

Papaya’s games are not skill-based and users are often not playing against live, actual opponents but against Papaya’s own bots that direct and rig the game so that Papaya itself wins its users’ money while leading them to believe that they lost to a live human opponent,” the complaint reads.

The lawsuit details a tech-savvy user who signed up for Papaya’s games and devised his own bot to win on his behalf. But his bot won just 8.2% of the games he entered (35 out of 427 games) “despite running a macro that should have easily beaten any human competitor.”

AviaGames Lawsuit

In its successful lawsuit against AviaGames, Skillz raised similar allegations of bot use, but the case hinged on whether Avia infringed on Skillz’s patent-protected platform. Avia claimed it simply used players’ past performances to compete against live players to expedite the player-matching process.

The jury wasn’t convinced.

The jury found “willful infringement” and awarded Skillz $42.89 million.

The post Papaya Gaming Hit With Proposed Class-Action Lawsuit for Alleged Bot Use appeared first on Casino.org.

He made the comments in a recent interview with CNBC’s David Faber. Iger didn’t directly mention ESPN Bet – the network’s sports wagering partnership with Penn Entertainment (NASDAQ: PENN). The casino operator runs the app using ESPN branding.

ESPN over-the-top is going to have multiple features to it. There will be fantasy sports. There will be the opportunity to bet on sports basically right off the app,” Iger said in the app. “There will be significantly more consumer engagement opportunities.”

“Over-the-top” references the traditional ESPN product, including the cable network and the mobile app. Iger differentiated it from a planned joint venture between the network, FOX, and Warner Bros. Discovery that would aggregate a slew of sports content into a single streaming platform.

Joint Venture Could Be Ripe for Sports Betting, Too

Iger noted that what customers will get with the “flagship” ESPN over-the-top product, including possible direct access to sports betting, will differ from the network’s contribution to the joint venture.

It will be available on an assortment of networks, including ESPN+, ESPN, ESPN2, ESPNU, SECN, ACCN, ESPNEWS, ABC, FOX, FS1, FS2, BTN, TNT, TBS, and truTV.

Making sports betting part of the streaming platform could generate conflicts due to Disney’s relationship with Penn and FOX’s ability to eventually own more than 18% of FanDuel. There have also been rumors that Warner Bros.’ TBS, TNT and truTV could forge further into the realm of sports wagering in the years ahead.

ESPN Practical Platform for Sports Betting Ties

Iger previously said ESPN?will not get into the business of directly accepting sports bets. But there are avenues the network can pursue to broaden its already significant sports wagering exposure and that includes the ESPN Bet partnership with Penn.

It’s one, though still in its infancy, that appears to be paying off for both sides. To date, ESPN Bet has outperformed Barstool Sportsbook – Penn’s previous sports wagering app. Likewise, Disney has significant financial stake in the casino operator, levering it to ESPN Bet’s success.

Penn is paying ESPN $1.5 billion over 10 years to use ESPN Bet branding for that period with an option for another 10 years at the end of the initial term. The gaming company also granted the sports network $500 million in equity warrants that vest ratably over 10 years.

The post Disney CEO Iger Sees Betting Coming to ESPN App appeared first on Casino.org.

In its recently published State of Omnichannel Fraud Report, TransUnion noted that overall data breaches surged 15% last year to all-time highs. The research firm added that nearly 14% of all newly created digital accounts are started for fraudulent reasons.

Data breaches are a leading indicator of future fraud as cybercriminals steal credentials in unprecedented numbers,” noted TransUnion. “Now more than ever, knowing the identity of the person you’re dealing with is central to every organization’s fraud prevention strategies.”

The gaming industry has already experienced its share of high-profile cybersecurity issues. Last year, MGM Resorts International and Caesars Entertainment, the two largest operators on the Las Vegas Strip, were targeted by the same groups of hackers. Caesars paid at least $15 million to the cyber bandits, while MGM didn’t comply with such demands, incurring a $100 million loss as a result of the event.

iGaming, Sport Bet Sites Targets

Internet casino and poker platforms, as well as sports wagering sites experienced a noticeable uptick in digital fraud last year, with much of it tied to promotional offers.

“Despite retail’s overall exposure to fraud, gaming (online gambling) experienced the highest rate of suspected fraudulent transactions in 2023 in the most (six) markets analyzed: Colombia, the Dominican Republic, Kenya, Puerto Rico, Spain, and the U.S.,” observed TransUnion.

“This early phase new account digital fraud may represent a paradigm shift of sorts among fraudsters,” Steve Yin, senior vice president and global head of fraud solutions at TransUnion, said in a statement. “In lieu of using traditional tactics to gain access to and ultimately compromise existing accounts, they are increasingly choosing to create new accounts that they can control themselves. These fraudsters leverage synthetic identities assembled in large part through the use of credentials gathered as a result of one or multiple data breaches.”

Some online gaming companies have already had run-ins with fraudsters and hackers. In late 2022, DraftKings acknowledged approximately $300K was swiped across 68K client accounts, and that the bad actors likely gained access to clients’ names, addresses, phone numbers, and email addresses. That’s along with the last four digits of their payment cards, their account activity, and the date of their last password change.

Gaming Epicenter of Digital Fraud in US in 2023

Of note to bettors and operators alike is the point that in the U.S., the gaming industry had the highest rate of digital fraud in 2023 at 10.9%. TransUnion pointed out that the percentage refers to the location of the victim at the time the crime was committed.

Puerto Rico, a U.S. territory where several well-known gaming companies offer mobile sports betting, saw gaming account for 10.2% of digital fraud last year.

The top five industries in terms of percentage of digital accounts created for fraud are retail, travel and leisure, video gaming, social communities, and betting, according to TransUnion.

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Council member Kenyan McDuffie (I-At Large) introduced the Sports Wagering Amendment Act of 2024 on Wednesday. A member of the Council’s Committee on Business and Economic Development (CBED), McDuffie was among the legislators who highlighted flaws with the GambetDC app, the lone sports betting app available throughout the district. He wants more sports betting competition in the city.

Our current model isn’t working, this bill will bring needed competition into the sports wagering marketplace and allows current Class A retail sportsbook operators (located at Audi Field, Capital One Arena and Nationals Park) to provide their mobile apps city wide,” he said in a Wednesday post on X (formerly Twitter).

McDuffie introduced his bill just over a week after the official announcement that Intralot would subcontract operation of GambetDC out to FanDuel. Meaning that later this spring, FanDuel will become the only mobile sports wagering app available throughout Washington, D.C.

McDuffie Legislation Could Be Moneymaker for D.C.

Since the debut of GambetDC approximately four years ago, bettors in the district could use that app just about anywhere in the city, except inside or near federal buildings.

That’s chased tax receipts out of the district, though the transition to FanDuel will likely improve that situation. FanDuel believes it will generate $119 million in taxable revenue in Washington, D.C. over the next five years. That’s more than the forecast $10 million from the current system. McDuffie’s bill would allow retail sportsbook operators, such as BetMGM and Caesars, to partner with pro teams to offer mobile betting in the city.

“It also creates a Class C mobile sports wagering license to sports teams who meet certain criteria, including being headquartered in the District of Columbia and playing 90% of their home games at a facility with a Class A retail sportsbook,” McDuffie added on X.

GambetDC a ‘Failure’

In its roughly four years on the market, GambetDC has notched offenses such as losing money in 2021, not being available to bettors during the 2022 Super Bowl, and generating lower-than-expected tax revenue. So it’s not a stretch to call the current system a failure, as does McDuffie.

“Annually, it will invest $1,000,000 in youth extracurricular activities from the proceeds of sports wagering revenues; and dedicates $300,000 to the Department of Behavioral Health to combat problem gambling,” he noted on X.

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The early days of online sports wagering are living up to expectations in the Tar Heel State, according to GeoComply. The geolocation company conducted more than 5.3 million geolocation checks in North Carolina during the first 48 hours of legal mobile sports betting.

By comparison, Virginia’s online sports betting market recorded slightly more than 2 million geolocation checks. Virginia has been live with sports betting since January 2021.

It’s early, but North Carolina is already delivering on lawmaker expectations when they legalized sports betting last year,” said GeoComply SVP of Compliance Lindsay Slader. “The state’s well-structured approach to mobile sports betting safeguards consumers and opens up significant revenue streams. With March Madness around the corner, we are excited to see continued growth.”

The NCAA tournament is one of the most wagered-on events in the U.S.

There’s another metric showing North Carolina emerging as a competitor to neighboring Virginia’s online sports market. That’s the nearly 370K active online sports betting accounts created in the first two days, compared to Virginia’s 134K active sports betting accounts.

SportsBooks in Full Court Press

North Carolina became the 30^th state, in addition to Washington, D.C., to offer online sports betting, and sportsbooks were ready. As reported previously by Casino.org, eight sportsbook operators began registering players on March 1.

Each of the sportsbook operators paid a $1 million licensing fee.

Expect this to be the most-bet March Madness in BetMGM history,” said John Ewing, BetMGM’s PR manager.

The University of North Carolina was the most-bet team to win March Madness during the first 24 hours of online sports betting in the Tar Heel State, according to BetMGM. The first bet in North Carolina history was placed by a person who bet $100 on UNC to win the tournament.

Cooper’s office also used the occasion to release a video of the bet with a tagline that reads, “Bet Responsibly, North Carolina.”

Who’s Live in North Carolina?

North Carolina law dictates that all sportsbook operators must partner with an existing Carolina sports team, venue, and/or Native American tribe.

The state’s eight operators and their partners include:

• Bet365 with the Charlotte Hornets
• BetMGM with the Charlotte Motor Speedway
• Caesars with the Eastern Band of Cherokee Indians
• DraftKings with NASCAR
• ESPN BET with the Quail Hollow Club (PGA Tour)
• Fanatics Betting and Gaming with the Carolina Hurricanes
• FanDuel with the Carolina Panthers and PGA Tour
• Underdog with the Sedgefield Country Club (PGA Tour)

North Carolina is taxing the operators 18%, and state officials say the money will be used to help fund everything from the North Carolina Department of Health and Human Services, youth sports, state universities, and gambling addiction services.

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The Office of Lottery and Gaming (OLG) announced the change following recent speculation regarding such a move. Greek gaming company Intralot will maintain its contract with the city and farm out operations of the betting app to FanDuel.

FanDuel’s industry-leading offering will ensure that the district maximizes revenue under its existing contracts this year while delivering a best-in-class experience for 18+ residents,” said OLG Executive Director Frank Suarez in a statement.

FanDuel, which is one of the most widely used sports betting apps in the country, is expected to launch in the district in the spring. but a specific date wasn’t included in the statement.

FanDuel Move Smart for Washington, D.C.

The district’s contract with Intralot wasn’t subject to a competitive bidding process, and that was merely the start of a controversial run for GambetDC.

The economics of the FanDuel relationship are far better for the city. FanDuel, a unit of Flutter Entertainment (NYSE: FLUT), is guaranteeing the district at least $45 million in revenue. That sum consists of a $5 million conversion fee to replace GambetDC and $10 million in annual tax receipts for the four years starting July 2025.

FanDuel believes it will generate $119 million in taxable revenue in Washington, D.C. over the next five years. That’s more than the forecast $10 million from the current system, and nearly double the expected $62 million if the district allowed multiple gaming companies to offer mobile sports wagering there.

The operator also expects that many of the current GambetDC retailers will see revenue increase 1.5x to 2x upon conversion to FanDuel kiosks.

FanDuel Already Dominant in the Region

One of the primary reasons OLG wanted Intralot to consider a subcontractor is branding. Though a specific regional mark, GambetDC didn’t resonate with local bettors on par with a major brand such as FanDuel.

Additionally, FanDuel already has roughly 50% market share in Maryland and Virginia, having generated $265 million in gross gaming revenue (GGR) in the former and $256 million in GGR in the latter. That’s relevant because the operator estimates it has 20K users in Washington, D.C. who have accounted for $15 million in GGR in Maryland and Virginia. That’s because they’re traveling to those states to bet instead of using GambetDC.

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In the final quarter of 2023, ESPN Bet, which debuted last November, was hampered by promotional spending and favorable outcomes for bettors. Deutsche Bank analyst Carlo Santarelli, who noted ESPN Bet has approximately 8% market share in the states in which its operational, can work through those hurdles.

This topic has been largely muted in the discussion around the performance in the period,” he wrote in a note to clients following meetings with Penn management.

He rates Penn a “hold” with a $23 price target, which implies upside of 25.6% from today’s closing price of $18.31. Shares of the regional casino operator are off 29.57% year-to-date and 39.2% over the past year.

North Carolina Could Be Game Changer

Currently, ESPN Bet is live in 17 states — Arizona, Colorado, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, New Jersey, Ohio, Pennsylvania, Tennessee, Virginia, and West Virginia.

The timing is crucial, because North Carolina is one the states most enthusiastic about college basketball and the NCAA men’s basketball tournament — one of the most wagered-on events in the U.S. — commences later this month.

Santarelli added that ESPN Bet could be more competitive in North Carolina than it has in other states. That’s because its parlay menus and links to ESPN Fantasy could attract new customers.

New York, Other Potential Catalysts for ESPN Bet

The Deutsche Bank analyst also pointed out that Penn hinted at a new leader for its interactive gaming division, which includes ESPN Bet. While that person was identified, it is believed to be someone with strong engineering and technology experience – pivotal traits in the hyper-competitive world of U.S. online sports betting.

New York, where Penn recently paid $25 million to WynnBet to acquire its sports wagering license, could also be a catalyst for ESPN Bet market share gains later this year and into 2025.

“We believe each of these enhancements will be in place ahead of football season, while the launch in New York, which we believe could also boost share in neighboring states, is also slated for prior to the football season,” Santarelli concluded.

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In the final three months of 2023, Playtika earned 10 cents per share on revenue of $637.9 million. Analysts expected earnings of 17 cents per share on sales of $628.98 million. Nearly two years to the day after the company announced a strategic review, which could have included a sale, Playtika paused that effort, citing “ongoing uncertainty in Israel and Ukraine.”

With the strategic review on hold, the mobile games creator is taking a different approach, telling investors it will pursue mergers and acquisitions of its own.

Playtika Capital Deployment Plans

Playtika concluded 2023 with $1.02 billion in cash and cash equivalents compared to a current market capitalization of $2.52 billion, indicating the stock may be undervalued following a 28% decline over the past year. The company’s free cash flow jumped to $436.4 million from $383.7 million in 2022, paving the way for opportunistic mergers and acquisitions and shareholder rewards.

In the past year, we’ve honed our focus on efficiency and streamlined our operations, adapting to evolving industry dynamics in mobile gaming,” said CEO Robert Antokol in a statement. “Now, with a solid foundation, 2024 marks our shift towards reinvestment — pursuing M&A opportunities with a strategic intent of capital deployment.”

Playtika said it will commence a quarterly dividend of 10 cents a share on April 5 to shareholders of record as of the close of business on March 22. The firm added it could consider a share repurchase program in the future. Based on the price of the stock at this writing, dividend yield would be 2.74%.

President and COO Craig Abrahams added the company will spend $600 million to $1.2 billion on mergers and acquisitions over the next three years.

Playtika’s 2024 Outlook

The gaming company’s tepid 2024 guidance may have also been a contributing factor in the stock sliding on Monday. Playtika said it expects 2024 sales of $2.52 billion to $2.62 billion on earnings before interest, taxes, depreciation, and amortization (EBITDA) of $730 million to $770 million.

“Capital expenditures expected to be between $110 million to $115 million, which includes $17 million in accrued capital expenditures from Q4 FY2023 that will be paid in FY2024,” according to the firm.

In the fourth quarter, average daily paying users rose 2.3% on a quarter-over-quarter basis, but declined 2.2% year over year.

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DraftKings said it’s paying $750 million in cash and stock for the privately held company. The transaction, which is scheduled to close in the second half of 2024, has been broadly lauded by analysts. That despite some concerns DraftKings is overpaying a bit. In a new report to clients, Stifel analyst Jeffrey Stantial said the Jackpocket buy could drive DraftKings customer acquisition costs (CAC) down. But there are complexities.

Strategically, Jackpocket provides DraftKings a unique, wide reach, low-CAC user acquisition channel to cross-sell into OSB/iCasino, though also adding complexity to an already compelling story,” wrote Stantial.

Stantial lifted his price target on DraftKings to $50 from $45. Since last Friday, approximately 15 analysts, including Stantial, boosted price targets on the stock, with all but Brandt Montour of Barclays going above $50. Coming into Tuesday, the consensus price target on DraftKings was $45.70, though it’s likely higher now. The shares traded at $41.60 at this writing.

DraftKings, Jackpocket Have Some Ties

Before the acquisition announcement, DraftKings and New York-based Jackpocket held some interesting ties. Former DraftKings board member Gavin Issacs serves as a senior advisor to the lottery company, and Raine Group Capital is a Jackpocket investor. That venture capital firm was also an early DraftKings shareholder.

In New Jersey and New York, Jackpocket is an officially licensed courier of those states’ lotteries. That model is prohibited in Indiana, Virginia, and Wisconsin. But even with that, there’s opportunity for the company to significantly add to its current coverage of 35% of the US population, potentially following a blueprint similar to the one DraftKings followed.

Still, for DraftKings, the deal is driven by the potential for efficient, low customer acquisition costs.

“All-told, we think revenue/EBITDA contribution targets actually appear quite reasonable, based on various metrics cited. Though investors will likely want to see more tangible data points on cross-sell rates before fully buying into the deal – especially as expansion outside of OSB/iCasino adds complexity to an already compelling growth outlook,” adds Stantial.

Lottery Exposure Could Be Smart

Focusing strictly on Jackpocket’s lottery exposure, there’s potential risk and reward in the deal for DraftKings. The risk — a documented one at that — is that lottery businesses under conglomerate control, which Jackpocket will be with DraftKings, are often underappreciated by investors.

“We see buybacks as the more likely return of capital mechanism vs. a recurring dividend, though we do see potential for a one-time special dividend,” added Stantial.

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Two of the titans of that group are DraftKings (NASDAQ: DKNG) and FanDuel parent Flutter Entertainment (NYSE: FLUT), which recently listed its shares on the New York Stock Exchange (NYSE). While facing competitive threats from new entrants, such as Bet365, ESPN Bet, and Fanatics, FanDuel and DraftKings have maintained a duopoly accounting for approximately 70% of the US market. Some analysts view Flutter’s NYSE listing as a potential plus for investors.

It could also open up new markets or financing opportunities and also allow the company to retain and obtain new talent. All these things can help its competitive positioning,” noted Morningstar analyst Dan Wasiolek.

By market value, Flutter is now the second-largest gaming company trading on a US exchange behind only Las Vegas Sands (NYSE: LVS).

DraftKings, Flutter Primary Rivals Among Online Betting Stocks

DraftKings and Flutter make for a predictable though compelling rivalry among online betting stocks because they’re two of the largest pure-play names in the space.

“FanDuel has the number-one spot of US sports betting revenue share with about 40%,” added Wasiolek. “DraftKings is number two at about 30%. Then the number-three player is BetMGM. Then there’s some other players that are noteworthy. You have ESPN BET, which launched in November of this year with its partner, PENN Entertainment, and has had some early success in getting some share.”

Following the November debut of ESPN Bet, data indicate FanDuel’s market share has held steady, while DraftKings ceded a modest share. However, the latter is embracing the competition and believes it could open the door to participants in regulated sports betting.

More Legalization Could Boost Online Betting Stocks

Barring surprises, Georgia is the most likely state to approve mobile sports wagering this year, followed by Missouri. However, neither is a sure bet.

“Now, the incentive for these states to legalize sports betting is, one major driver would be generating tax revenue, which can be quite substantial,” concluded Wasiolek. “For example, in New York, we calculate that the tax revenue generated per adult by sports betting is equal to that generated for nicotine sales. So it can be quite substantial for state budgets.”

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Washington, DC’s contract with operator Intralot expires in July and DC Lottery appears open to pulling control of mobile sports betting in the nation’s capitol from the Greek company and giving it to another gaming firm. Representatives from DC Lottery made comments to that effect at the Jan. 18 meeting of the D.C. Council’s Committee on Business and Economic Development (CBED).

It’s no secret that the private operators have a very strong brand, so they’re able to really able to use that branding and that advertising to draw in more players,” said DC Lottery leader Frank Suarez at the meeting. “We want a bigger brand. We want something that players are used to and highly satisfied with, which is why we’re looking to make the change.”

DC Lottery’s pact with Intralot has been heavily criticized because it’s a sole-source contract, meaning there wasn’t a competitive bidding process. That’s seen as one reason GamBetDC is delivering disappointing performances.

DC Lottery Not Seeking to Replace GambetDC

DC Lottery isn’t seeking an outright replacement of GambetDC. Rather, the agency wants to alter its contract with Intralot to compel the operator to bring on a subcontractor.

However, those companies can only offer mobile wagering within two blocks of their retail books whereas GamebetDC is accessible all over the city except for within federal buildings. Some local politicians believe it’s time for a change. Council member Kenyan R. McDuffie (I-At Large) noted at the meeting that GamebetDC has been a dud since inception.

“Simply put, sports betting in the nation’s capital is not working,” he said while adding it’s time “tell the public what’s gone wrong, and more importantly, what precisely they intend to do to fix the mess that’s been made.”

GambetDC Riddled with Issues

Since its debut, GamebetDC has been fraught with problems that affected bettors. For example, there were reports of the app offering odds of -115 to -118 (bet $115 or $118 to win $100) on games that would normally carry odds of -110 (bet $110 to win $100). Additionally, there have been technical difficulties, including the app failing iPhone users during the 2022 Super Bowl. The Super Bowl is the most wagered-on, single-game event in the US.

More recently, the app limited bet sizes and there have been a steady stream of reports that some bettors in the city still go to Maryland or Northern Virginia to get superior odds and use app such as DraftKings and FanDuel.

“There’s an opportunity for us to get one of the private operator apps that players feel is much better than what we’re providing,” Suarez said at the CBED hearing. “It launched with a sort of clunky, not user-friendly app. And I think even with the changes we made to the interface, there’s still player perception the odds aren’t as good, and the app isn’t going to work as well … we just realized those perceptions would be difficult to change and it would be best to go ahead and just replace the platform.”

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Rep. Vern Buchanan (R-Sarasota) introduced House Bill 1417, which is focused on spending most of the revenue from gambling. Senate Bill 1638, introduced by Sen. Travis Hutson (R – 7th District), specified funding for environmental management and protections, including research.

Florida’s Senate President Kathleen Passidimo (R-Naples) told Senators in her opening remarks she supports gambling revenue to fund land acquisition and conservation.

Using these new revenues to acquire and manage conservations lands and invest in our clean water infrastructure will be a phenomenal return on investment for our state,” Passidimo said. “I hope the legislation will earn your support.”

House Speaker Paul Renner (R-Palm Coast) also backs the idea of using funds from gambling for conservation-related projects.

Florida Bill Funding

SB 1638 would use an “indeterminate” amount of revenue available from a gambling deal that Gov. Ron DeSantis (R) reached with the Seminole Tribe of Florida. The gaming compact deal was struck in 2021.

On Nov. 1, 2023, the Seminole Tribe said it would launch retail sports betting at its casinos on Dec. 7, 2023.

As reported by Casino.org, the Hard Rock Bet app became available to eligible users in Florida on Dec. 5, 2023.

Under the compact, the tribe pledged to pay $2.5 billion to the state over the first five years and perhaps billions more during the three-decade deal.

?Florida’s Sole Betting App

The only legal sports betting app in the Sunshine State is Hard Rock Bet, which is available on iOS and Android. All other sports betting platforms licensed in other US states aren’t allowed.

The amount of money from sports wagering that would fund the environmental goals still needs to be negotiated.

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The app debuted in 17 states on November 14 on while not all of those states have delivered November data let alone reports for December, the early indications from some states confirm ESPN Bet is generating more revenue than Barstool Sportsbook.

Out of the gates, ESPN Bet garnered a double-digit share of gross gaming revenue (GGR) in Indiana, Iowa, and Maryland. Last month in Maryland, ESPN Bet’s handle was $42.4 million, more than double the $16.4 million notched by Barstool Sportsbook a year earlier. In Iowa, ESPN Bet’s December handle was $18.8, well ahead of the $7.2 million generated by the predecessor app in December 2022.

Impressively in Maryland, ESPN jumped to third in terms of market share last month, trailing only FanDuel and DraftKings (NASDAQ: DKNG).

Promotional Spending Helping ESPN Bet

When new operators enter the ultra-competitive US sports wagering space, the typical concern is that those firms will spend heavily on promotions to lure new clients, but prove ineffective at retaining bettors when the bonuses wear off.

Spending effectively is critical for Penn because the regional casino operator is paying ESPN $2 billion in cash and stock over 10 years to use the sports network’s brand.

Penn estimates the relationship with “the worldwide leader in sports” could add $500 million to $1 billion in long-term, adjusted earnings before interest taxes, depreciation, and amortization (EBITDA) to its interactive gaming unit. Still, ESPN Bet is expected to generate a loss of at least $100 million this year, indicating 2025 will be the earliest at which the app turns profitable.

ESPN Bet Having Overall Positive Impact on Market

The emergence of ESPN Bet and Penn’s willingness to spend to attract clients is being felt across the industry as highlighted by some elevated promo spending activity.

Unsurprisingly, industry-wide promotional reinvestment accelerated in November, largely due to the mid-month launch of ESPN Bet,” observed Stifel analyst Jeffrey Stantial. “However, we also observe modestly higher spend for certain well-established incumbents (in particular DraftKings), as well as continued above industry-average reinvestment for Fanatics & bet365.”

Some data points seem to suggest that ESPN Bet may have pilfered market share from BetMGM and DraftKings immediately following its November debut, but DraftKings noted its customer churn that month was normal and that it believes ESPN Bet has the potential to grow the market of US sports bettors, which would be a positive for the industry at large.

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In a new report, Eilers & Krejeck Gaming (EKG) highlights the recent entries of Fanatics and Jackpocket into select iGaming markets. The study assesses the chances of those new entrants to become credible competitive threats to the likes of BetMGM, DraftKings, and FanDuel.

The Jackpocket Casino app is closer to minimum viable than the finished article (e.g., we note the absence of cross-sell paths between Jackpocket’s lottery and casino apps, though depositing casino players can earn a $10 lottery credit),” according to EKG.

Jackpocket, which has roots in the online lottery space, recently launched its internet casino offering in New Jersey, while Fanatics launched its iGaming platform in West Virginia.

Fanatics, Jackpocket Could Be Contenders

With iGaming currently legal in just six states, there’s room for long-term growth in the industry. 2024 could bring positive headlines on the legislative front, as more states look for new sources of tax revenue.

“The U.S. market, from an app quality perspective, remains homogeneous and largely uncontested. In 2024, we expect market leaders to strengthen their product advantages, but there is still room for smaller brands to make noise in the market, in our view,” added the research firm.

Buttoning down superior technology is essential to operators’ efforts to fully capitalize on the internet casino opportunity set. Analysts and operators are enthusiastic about the outlook for internet casinos, because there’s a long runway for state-level legalization. It’s also a higher margin business than sports betting, and bettors are often stickier and spend more money than they do on sports wagering.

Penn Dealing with iGaming Issues

While Penn Entertainment’s recently debuted ESPN Bet sports wagering mobile app is off to an impressive start, the same cannot be said of the operator’s new Hollywood Casino offering. That brand was restarted in conjunction with ESPN Bet.

Although early OSB results for ESPN Bet have been splashy, the same cannot be said of Hollywood, for which GGR performance during a partial November appeared to be in line with Barstool historicals. At this early stage, however, we caution against reading much, if anything, into that delta,” observed EKG.

The research firm also noted that Hollywood Casino is running on the same tech stack as its predecessor, Barstool, whose platform usually scored well in previous evaluations.

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That’s the take of Bank of America analyst Shaun Kelley, who in a recent report to clients, joined a growing chorus of analysts praising ESPN Bet’s strong start. The app debuted in 17 states on November 14, topping one million downloads in its first week. It appears the venerable ESPN brand is paying off for Penn in terms of bringing new bettors to the table.

It’s our sense ESPN Bet could be growing the market through more casual and female bettors compared to other sportsbooks,” Kelley noted.

That’s potentially good news for the industry at large, because in the U.S., sportsbook operators are struggling to attract female bettors, according to some studies. The opposite is true in Europe and other regions where data indicate women eagerly wager on sports and frequently do so on women’s competitions.

ESPN May Have Pilfered Share from Rivals

In several of the states in which ESPN Bet is operational that have already delivered November data, the app exceeded market share expectations.

While ESPN Bet and Fanatics have the luxuries of financial resources and strong brand recognition, some analysts say the increased competition isn’t yet weighing on DraftKings. It’s estimated that in November and through the first half of this month, DraftKings’ customer churn and client spending habits were normal in the states in which the company competes with ESPN Bet.

Bank of America’s Kelley added that the research firm has “high conviction in DraftKings’s growth story, despite increased competition.”

Scrutiny on ESPN Bet Promotional Spending

With lessons learned from the go-go days of 2020 and 2021, analysts and investors are paying more attention to how much sportsbook operators allocate to promotional spending as an avenue for customer acquisition. ESPN Bet naysayers believe generous promos are the reason the app is off to a fast start. But Kelley sees things differently.

Bears are concerned ESPN Bet achieved their market share through promotions. But in Maryland and Kansas, ESPN Bet’s promo is 35% of handle, in line with offers for the launch in Kentucky. That said, given the strong initial uptake, absolute promotional dollars will be high and we’re increasing our loss estimate for the fourth quarter from $130 million to $185 million,” concluded the analyst.

That loss estimate exceeds the $100 million to $150 million forecast by Penn. Using that as a gauge, it could be 2025 before ESPN Bet becomes profitable.

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Google’s YouTube received the biggest fine and faces a penalty of €2.25 million (US$2.42 million). Twitch, which has tried to shy away from hosting gambling content, will have to pay €900,000 (US$970,470).

This isn’t the first time that Agcom has targeted Google. The communications and advertising watchdog fined it €1.45 million (US$1.47 million) a year and a half ago. However, a court struck down the fine this past September.

20,000 Gambling Promotions

Agcom launched investigations against the two platforms, along with a third against TikTok, in response to numerous complaints it had received. The agency identified more than 80 YouTube and Twitch channels that featured more than 20K videos promoting slot machines, games of chance, sports betting, and scratch-off cards.

After Agcom’s intervention, the platforms took down the illicit content. They were also instructed to prevent future similar publications in adherence to the European Union’s Digital Services Regulation (DSA). That guidance forces tech companies to provide better oversight of their platforms to prevent exposure to questionable material by children and teens.

TikTok could have faced a similar response from Agcom. However, upon reviewing the published material, Agcom concluded that the gambling content was independent of any agreement between TikTok and the content providers. Consequently, Agcom closed the case without imposing a fine.

Clamping Down on Social Media

Just like in other countries, things are going to get tougher for social media platforms in Italy. The country has given the green light to new regulations aimed at safeguarding children online. The regulations specifically target major video platforms like YouTube, Instagram, and TikTok, and are set to be enforced starting January 8 of next year.

Under these regulatory measures, Agcom now possesses the authority to take decisive action against video platforms in the event of violations. Notably, these laws extend to digital platforms based in other EU countries. Before these rules are enforced, the Italian regulator must consult with the national authorities of the respective country.

If the actions taken by that authority fail to satisfy Agcom, it retains the right to proceed with the takedown request directly with the platform. This step underscores Italy’s dedication to enhancing child safety on popular video-sharing platforms, ensuring that tech companies are held accountable for content that may pose harm or involve illegal activities for young users.

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After an iGaming bill failed to advance earlier this year, expectations are rising that the issue could again find itself on the agenda when the state legislature reconvenes in 2024. There are signs of growing public support to be able to play poker, slots, or roulette on their laptops or cell phones. But union officials in the state are sounding the alarm that iGaming would lead to lost jobs at the state’s six casinos.

Meanwhile, a recent state-commissioned report found that iGaming would quickly become a nearly billion-dollar industry.

Maryland lawmakers failed to act on an iGaming bill introduced this year before adjourning in the spring. But there are signs the issue will return to the agenda when the legislature begins its new session in January. The state Department of Legislative Services Office of Policy Analysis included iGaming in a recent comprehensive report on key issues that could be considered next year.

Up to $900M Market

The Maryland Lottery and Gaming Control Agency, which regulates sports betting and casinos in the state, also recently released a report on the prospects of iGaming in the state. The state commissioned Las Vegas-based consulting firm The Innovation Group to prepare the report.

The tax rate for iGaming would be a key consideration in any upcoming legislative push, and the report outlines options ranging from 10% to 30% of gross receipts. While online gaming should typically be taxed at a higher rate than land-based casinos, the report says that consideration needs to be balanced against policymakers’ desire to lure players away from existing black market online casinos. Maryland currently taxes table games at a rate of 20%.

“With current gaming tax in Maryland at the level it is, it would be challenging to give online gaming a higher tax rate and simultaneously expect operators to aggressively market to players at illegal online casinos,” the report stated.

If the state wants to see any benefit from iGaming, the tax rate needs to be at least 15%, according to the report. At that level, the state would see $37.4 million in new tax revenue in 2029, according to the report, while it would lose $7.8 million if iGaming were taxed at only 10%. If the tax rate were set at 45%, the state would see nearly $308.9 million, according to the report, which assumed gross revenues would remain constant in all scenarios.

The report also cites concerns that problem gambling cases would rise with the introduction of online gaming, as has reportedly happened in Pennsylvania and New Jersey. The authors also point to an existing and strong problem gambling program in Maryland, and note that some of the iGaming proceeds would be dedicated to those efforts.

Poll: 75% Would Vote Yes

A new poll found 75% of Marylanders said they would vote in favor of a measure legalizing online casinos if it is included on the 2024 ballot. The poll of 1,000 self-identified registered voters was commissioned by MDBetting.com and conducted by the online survey firm Pollfish, Inc., and found strong support across all subcategories by age, gender, and education level.

Before the question can be put to voters, the Maryland legislature has to vote to add it to next year’s ballot.

Unions Warn of Lost Jobs

The prospect of iGaming is worrying to the employees of Maryland’s land-based casinos. In an op-ed published Wednesday, two union leaders say the Lottery Commission’s report didn’t capture the potential of job losses that could accompany an expansion of iGaming.

Jason Chorpenning, president of the United Food and Commercial Workers International Union Local 27, and Shane Sterry, vice president of the Seafarers Entertainment and Allied Trades Union, called on the legislature to reject iGaming.

With its myopic focus on the gaming revenue these out-of-state and foreign companies might generate, the report glosses over the massive losses of Maryland jobs that would inevitably accompany iGaming,” Chorpenning and Sterry wrote in an op-ed for MarylandMatters.org. “For example, in neighboring Pennsylvania, iGaming has eliminated 2,000 jobs — nearly 10% of all Pennsylvania brick-and-mortar casino jobs. Many other states, like Indiana, have said “No” to iGaming for the same reason — it’s a job killer.”

With a Democratic governor and majorities in both houses of the legislature, labor unions are generally seen as holding a fair amount of influence in the state capital.

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The Pennsylvania-based regional casino operator said ESPN Bet, its new online sportsbook brand, will “simultaneously launch” across 17 states on November 14. That means the mobile application will be available to bettors in those jurisdictions in advance of Thanksgiving football games.

That’s important timing, because Thanksgiving Week is traditionally “Rivalry Week” in college football, and this year, Monday Night Football features a rematch of the most recent Super Bowl between the Kansas City Chiefs and the Philadelphia Eagles.

Clarity around the debut of ESPN Bet is widely viewed as one reason, if not the primary one, why previously downtrodden Penn shares surged 14% Thursday on volume that was more than triple the daily average.

In connection with the launch, ESPN will be implementing an initial wave of exclusive integrations targeting their 200 million loyal fans across their linear and digital platforms, including an advertising campaign headlined by SportsCenter anchors Scott Van Pelt and Elle Duncan,” said Penn CEO Jay Snowden in a statement.

Snowden added there will be “even deeper platform and media integrations with ESPN over the upcoming months.”

ESPN Bet Could Be Penn’s Best Sports Betting Hope

After struggling to gain market share with the Barstool Sportsbook brand, Penn shed ties with Barstool Sports in August, announcing it was teaming up with ESPN to forge a new path in the sports wagering industry.

Since that August announcement, analysts have been tepid on the ESPN Bet concept, with some expressing reservations about the ability of the new online sportsbook to credibly threaten the FanDuel/DraftKings duopoly.

“For now, we continue to prefer to treat ESPN Bet as an option. Could the strategy work? Certainly,” opined Stifel analyst Steven Wieczynski in a note out earlier on Thursday. “However, as time goes on, it becomes increasingly clear first mover advantage is real in OSB/iCasino. ESPN’s brand equity within sports is unparalleled. But will consumers change their behavior this late in the game? Have they become accustomed to navigating certain apps?”

ESPN Bet Could Support Profitability

ESPN Bet could be beneficial to Penn in terms of driving profitability in its interactive unit — something investors are increasingly demanding of iGaming and online sportsbook operators. The new mobile sportsbook could lose up to $150 million in the current quarter. But that could turn for the better next year.

I think at a high level, you should expect the Interactive losses to sort of be at their peak between Q4 and then Q1,” Snowden said on the call in response to a question from Deutsche Bank analyst Carlo Santarelli.

Snowden added Penn’s online unit will likely sport losses across all four quarters of 2024.

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A list of events eligible for wagering will be posted on the department’s website Friday morning, Executive Director Milton Champion told Casino.org via email.

Maine’s sports betting law gives the state’s four Native American tribes the exclusive rights to operate sportsbooks in the state.

The market’s launch follows a lengthy review by the Gambling Control Unit, a small agency with just three full-time employees. More than 600 comments were filed on the proposed rules during the lengthy review process.

Caesars, DraftKings Prepare to Launch?

The vast majority of sports bets in Maine are expected to be placed online, as is the case in most of the country. Mobile sportsbooks are expected to take approximately 85% of sports bets in the state.

Existing sportsbook operators have partnered with the tribes to offer mobile sports betting platforms in Maine.

Caesars Sportsbook earlier this year partnered with three tribes, the Penobscot, Maliseet, and Micmac nations, to handle their sports betting operations. This week, DraftKings announced its own partnership with the fourth tribe, the Passamaquoddy.

“Building a relationship with the Passamaquoddy Tribe is a fantastic opportunity for DraftKings, as we look to bring customers in the state of Maine safe and legal sports betting,” said Jason Robins, CEO and DraftKings co-founder in a press release. “We look forward to our continued collaboration with the Maine Gambling Control Unit as we become the official mobile sports betting provider of the Passamaquoddy Tribe and launch in our industry-leading 25th state.”

The law also allows for retail sportsbooks at the state’s two brick-and-mortar casinos, Hollywood Casino Bangor and Oxford Casino Hotel, as well as racetracks and off-track betting facilities.

Revenue Split With Tribes

Providing an economic boost to the four tribes was among the top priorities behind Maine’s decision to legalize sports betting. The tribes were recognized under a 1980 law that provides narrower rights than are enjoyed by other Native American tribes, including the ability to organize gaming.

The sports betting legislation was passed last year after lengthy negotiations over a variety of provisions, including taxation and tribal water rights. Poor water quality has been of particular importance for the Passamaquoddy Tribe, according to press reports.

Caesars and DraftKings will keep 40% of the revenues collected in Maine, with 50% going to the Tribes and 10% in tax to the state.

Maine’s sports betting law allows anyone age 21 or older to place bets. Resources for problem gambling are available via a state helpline, 211 Maine, or by calling 1-800-GAMBLER.

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As measured by handle, Nevada has been surpassed by more populous states, including Illinois, New Jersey, New York, and Pennsylvania. Those jurisdictions approved sports wagering following the 2018 Supreme Court ruling on the Professional and Amateur Sports Protection Act (PASPA).

Still, the Silver State remains a force on the national sports wagering scene. It’s just cumbersome for bettors to sign up for mobile accounts in the jurisdiction.

In Nevada, sports bettors who want to place wagers via mobile devices must enter a brick-and-mortar casino and complete paperwork to activate mobile wagering accounts. That requirement remains in place at a time when nearly all of the other 34 states and Washington, DC, that allow sports betting permit new account sign-ups via computers or smartphones.

Nevada Still an Important Sports Betting State

Despite the onerous in-person registration requirement, Nevada remains a force on the sports betting scene. Through August, gaming operators in the state accepted $4.9 billion in sports bets, according to the Nevada Gaming Control Board (NGCB).

States such as Colorado and neighboring Arizona don’t have the in-person registration requirement, and operators offer more lucrative sign-up bonuses and deeper wagering menus in many states outside Nevada.

Better promotional offers and more extensive betting slates result from those states being open to operators such as DraftKings, Fanatics, and FanDuel. As a result, some Nevada sports bettors have been known to cross state lines into Arizona to odds shop and get promo dollars.

What Online Operators Could Enter Nevada First?

While the in-person registration requirement is a nuisance for bettors and operators alike, online sportsbook providers want to enter Nevada. In terms of the aforementioned quartet of companies, the ones to enter Nevada first will likely be those with ties to land-based casinos in the state.

Penn Entertainment operates the M Resort Spa Casino in Henderson and Cactus Petes Resort Casino Jackpot. However, that company didn’t apply for licensing for Barstool Sportsbook in Nevada, leading to speculation about whether or not it will reverse course when ESPN Bet debuts next month.

Conversely, Fanatics and FanDuel would likely need to partner with smaller Nevada casino operators to enter the state, because regulators appear unlikely to waive the in-person requirement anytime soon. FanDuel has an existing relationship with Boyd Gaming. One of the largest operators of Las Vegas locals’ casinos, Boyd owns 5% of FanDuel. FanDuel branding and odds are also used at Boyd’s Fremont Hotel Casino in downtown Las Vegas. But Boyd remains the operator of that sportsbook.

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The operator launched the Fanatics Sportsbook app in Maryland, Massachusetts, Ohio, and Tennessee last month. After completing a portion of its previously announced acquisition of PointsBet US, Fanatics debuted the app in another seven states in late August — Colorado, Iowa, Kansas, Maryland, New Jersey, Pennsylvania, Virginia, and West Virginia. Data indicate the rookie app is on solid ground in its infancy.

During the first week of the 2023 NFL season, the Fanatics-PointsBet tandem captured an impressive 14% app download share among a selection of top U.S. OSB brands,” according to research firm Eilers & Krejcik Gaming (EKG).

That 14% download share includes 9% accrued by the Fanatics Sportsbook app and 5% attributable to PointsBet: A Fanatics Experience, which is the branding the operator is using in some states in which it is awaiting regulatory approval for the PointsBet US acquisition.

Fanatics Already Lifting PointsBet

Australia-based PointsBet (OTC: PBTHF) decided to part with its US operations because the business was bleeding cash while failing to provide adequate market share.

According to EKG data, the only other sportsbooks to notch app download increases during the first week of NFL action were FanDuel and Bet365. In the case of the former, the jump was modest, and regarding Bet365, it was coming off a low base of a small number of states in which it was operational a year ago.

The impressive start in app terms by Fanatics Sportsbook may have been assisted by the operator’s creative promotional tactics.

“Both Fanatics and PointsBet offered merchandise-focused promos?that seemed to resonate with U.S. OSB players. For example, on PointsBet, new customers get a free jersey if they bet $50 or more,” EKG added.

Downloads Need to Become Bets

Sports wagering mobile apps are like any other apps: Smartphone users can download, but that doesn’t mean they’ll allocate cash to it. Said differently, while a fair amount of bettors downloaded Fanatics Sportsbook last week, that doesn’t guarantee they placed wagers with the operator.

“What percentage of Fanatics downloads came from non-live OSB states? And are the Fanatics/PointsBet products good enough to keep acquired OSB players around after they get their promo merch?” EKG asked in conclusion.

Week two of the NFL season started in earnest last night, and data from Sensor Tower indicate that over this week, both Fanatics Sportsbook and PointsBet: A Fanatics Experience have continued the brisk pace of downloads.

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The deal includes an upfront payment of $80 million, with the potential that the ultimate price paid for the target could be as much as $300 million. Like Playtika, Innplay is an Israel-based company. The latter is privately held.

The acquisition of Innplay Labs, our second transaction this quarter, represents another strategic expansion of our portfolio with a promising and innovative growth franchise in the Luck Battle genre, and presents another opportunity for us to further utilize our expertise in leveraging LiveOps and proprietary technology to drive sustained, long-term growth,” said Playtika CEO Robert Antokol in a statement.

Formerly a unit of Caesars Entertainment, Playtika is the developer of popular social casino games, including Bingo Blitz, Caesars Slots, Slotomania, and World Series of Poker (WSOP) Social, among others.

Playtika Acquisitive, but also Potential Target

While Playtika remains acquisitive, news of the Innplay Labs acquisition emerged about three months after reports surfaced indicating multiple private equity firms are evaluating takeovers of the Israeli gaming company.

Making Playtika potentially attractive to prospective buyers is the opportunity to better monetize the gaming company’s offerings and boost monthly average user (MAU) engagement. Buyout shops could also be drawn to the growth prospects of social casinos and in-app business models.

Playtika and Angry Birds producer Rovio Entertainment scrapped merger talks earlier this year. While that transaction didn’t materialize, it underscores Playtika’s knack for dealmaking — an attribute affirmed by the Innplay Labs purchase.

What Playtika Gets with Innplay Labs

Innplay Labs is the studio behind well-known titles such as Animal Kingdom and Tiles of Fortune, indicating that Playtika is bolstering its content library and technological capabilities with the acquisition.

In the mobile gaming industry, content and technology are essential because those factors can boost the appeal of games to customers, potentially inducing more in-app purchases — an essential revenue stream for companies such as Playtika.

Some on Wall Street are optimistic about the future of select companies in this space. They note soaring in-app purchases, the catalyst of new game introductions, and expansion opportunities that aren’t currently reflected in share prices. It adds up to an industry that appears ripe for mergers and acquisitions activity.

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Today, the operator announced the Fanatics Jersey Drop promotion. New clients of Fanatics Sportsbook or PointsBet US, which is being acquired by Fanatics, are eligible for the incentive.

New customers, who sign up for Fanatics Sportsbook on iOS and Android or PointsBet on iOS and Android, even in states that are not yet branded PointsBet, A Fanatics Experience, between September 1 and September 18 and opt into the The Fanatics Jersey Drop promotion, can place a single cash wager of $50 or more on any market and receive a reward credit to purchase team merchandise worth up to $150 on www.fanatics.com,” according to a statement.

The minimum odds on a bet eligible for the jersey promotion are -500, or wagering $500 to win $100. Fanatics Jersey Drop is limited to one reward per client, and bettors will receive their credit via email within 72 hours of placing eligible wagers.

Fanatics Taking Unique Approach

Known for its ubiquitous commercials with the slogan “Officially Licensed Everything,” Fanatics Commerce is one of the largest purveyors of sports apparel and merchandise in the U.S.

The company leverages licensing accords with major sports leagues, selling products across the Fanatics, Nike, Mitchell & Ness, Top of the World, WinCraft and Maejstic brands. That makes for an ideal platform to leverage with sports fans turned bettors.

How many bettors opt for bonus wagers over merchandise remains to be seen. But offering up discounts on caps, jerseys, and the like could be a more cost-effective marketing tool for Fanatics than traditional promo cash that’s so common in the sports wagering industry.

While land-based casino operators that also have sports wagering footprints have obvious outlets for their rewards programs, online-only operators need to take different, more unique approaches. Some, including Fanatics, are doing that.

Fanatics Asserting Itself in Sports Wagering Space

The current composition of the ultra-competitive domestic sports wagering landscape is essentially a duopoly controlled by FanDuel and DraftKings. However, analysts widely view Fanatics as one of the companies that has the resources to potentially wrest market share from entrenched rivals.

Fanatics Betting and Gaming is attempting to assert itself. Via the PointsBet acquisition, the operator added seven states to its mobile sports wagering portfolio, while its sportsbooks in several other states will bear “PointsBet, a Fanatics Experience” branding, pending regulatory approval.

After rolling out its mobile sports wagering application in Maryland, Massachusetts, Ohio, and Tennessee, Fanatics Betting and Gaming will be live in at least 11 states prior to the start of the NFL season.

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That’s according to a survey by Men’s Health that served as the foundation for a sweeping, multi-article series on the state of regulated sports wagering in the US. The magazine polled 3,800 men, of which 1,500 acknowledged that they placed at least one sports bet in the past year.

Still, the “typical” sports bettor is a white male between the ages of 25 and 34, according to the magazine. Eighty percent of them are devoting up to six hours a day to betting.

More Important Findings in Men’s Health Poll

Millennials’ proclivity for elevated sports betting frequency may be partially attributable to that generation’s comfort with technology. Seventy-six of the men polled by Men’s Health say they place their bets via a mobile application or on a computer, and two-thirds said their betting frequency has increased due to the evolution of app-based wagering.

FanDuel is by far the largest online sportsbook operator in the US. Nearly a third of respondents said they prefer BetMGM.

Another interesting discovery by Men’s Health is that 56% of the males who responded noted they prefer wagering on professional sports over college athletics. In comparison, just 39% acknowledged placing bets on college and pro games.

While sports betting has certainly come “out of the shadows” since the 2018 Supreme Court ruling on the Professional and Amateur Sports Protection Act (PASPA), 34% of men believe commercials run during games by sportsbook companies are annoying, and 38% say broadcasters shouldn’t make betting references while on the air.

Black Market Betting Still Elevated

Today, some form of sports wagering is allowed in 34 states and Washington, DC, with Kentucky poised to take that number to 35 in the coming weeks. Some of the largest online sportsbook operators currently reach about 40% or more of the US adult population.

However, the Men’s Health survey could signal that black market betting remains elevated. In addition to the typical bettor being a white man between 25 and 34 years old, he lives in California, Florida, New York, or Pennsylvania, according to the magazine.

Of that quartet of states, only New York and Pennsylvania permit mobile sports wagering. At this point, Florida’s sports betting fate is in the hands of the courts, and it could be several years before California gets around to reconsidering the issue.

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A spokesman for the company told Casino.org that collectibles will be part of the Fanatics Sportsbook rewards program down the road. Earlier this week, the privately held company rolled out its mobile betting application in Maryland, Massachusetts, Ohio, and Tennessee.

We see many opportunities for FanCash to potentially be integrated across our entire Fanatics ecosystem at some point in the future as we continue to build a robust rewards program and further enhance the fan experience,” said the spokesman. “However, there are no immediate plans for the collectibles business at this time.”

Currently, the FanCash loyalty program allows Fanatics sports betting clients to convert FanCash into bonus bets or merchandise on a dollar-for-dollar basis. Bettors earn 1% on a regular or straight wagers, 3% on parlays and 5% on same-game parlays.

Fanatics Collectibles Could Be Unique Wagering Reward

Bettors, be they sports bettors or those that like slots and table games, love customer loyalty plans. Those programs are staples of the land-based casino industry and those operators are seeing benefits from allowing iGaming and online sportsbook clients to accrue points that can be used at brick-and-mortar casinos.

In January 2022, Fanatics announced its $500 million acquisition of Topps Sports & Entertainment — one of the most venerable brands in the sports card industry. That’s just one sign of Fanatics’ efforts to be a major player in this space.

In August 2021, the company announced card deals with Major League Baseball (MLB) — for years fertile territory for Topps — and the NBA, as well as agreements with the players of the those leagues and the NFL Players Association (NFLPA).

Smart Move by Fanatics

Introducing collectibles into the FanCash scheme could prove prescient by Fanatics. It’s logical that some collectors are also interested in sports wagering and, by some estimates, the sports card segment could be a nearly $99 billion industry by 2027. Fanatics also has the reach necessary to make it a force in sports collectibles and brand recognition that resonates with bettors and collectors alike.

“Fanatics Collectibles also has partnerships with a number of individual international sports teams and leagues, as well as owners of other entertainment properties granting similar exclusive rights,” according to the company. “Fanatics Collectibles recently announced Fanatics Live, expected to launch later in 2023, which will focus on transforming the digital shopping experience through personality-driven content and entertainment.”

Fanatics has licensing agreements with leagues, including Major League Baseball (MLB), the NFL and the NBA and the related players associations to produce digital and physical cards and collectibles. Fanatics founder Michael Rubin is an avid collector and has been buying and selling sports cards for close to four decades.

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Roblox Corp., the video game developer behind the eponymously named game, had to have seen this coming. Parents have taken legal action against the California-based company, claiming that the widely favored online game functions as an illicit gambling platform targeting and taking advantage of minors.

Rachel Colvin and Danielle Sass took legal action against Roblox earlier this week by filing a lawsuit in the U.S. District Court for the Northern District of California. They seek compensation for the monetary losses their children incurred playing Roblox.

Colvin and Sass assert in the suit that they had no idea their children had been engaging in Roblox’s commercial space, available with the in-game currency Robux. They have requested the case be heard by a jury.

Led Into Temptation

Roblox has received substantial backlash for impeding endeavors to create a safer online environment for kids. This issue came to a head in May when BBB National Programs, a responsible marketing advocacy, discovered that the company had allegedly circumvented marketing protocols meant to protect children.

It was also accused of having obfuscated the line separating advertisements and legitimate gaming content. Furthermore, Roblox found itself entangled in a Federal Trade Commission complaint over deceptive marketing filed by the Truth in Media group last year.

Upon purchasing Robux, users are granted permission to enter external gambling websites, referred to as virtual casinos, that aren’t part of the Roblox ecosystem. The children can further connect their Robux wallet to these gambling sites, allowing Roblox to trace electronic transactions. Neither Roblox nor the gambling site requires age verification.

Satozuki Limited B.V., Studs Entertainment Ltd., and RBLXWild Entertainment LLC are also defendants in the suit. They allegedly operate third-party sites where Roblux can be used for gambling or trading.

Giving Into Greed

In addition to its other accusations, the complaint contends the gambling platform actively solicits minors to endorse illicit gambling platforms. It states that BloxFlip, a website run by Studs, rewarded users on TikTok with complimentary Robux in exchange for promoting its site.

Roblox’s own terms and conditions assert that it doesn’t support or allow any form of virtual gambling, even simulated, in which virtual chips, bets, or real currency, such as Robux or in-game assets, are involved.

Colvin and Sass claim these guidelines are deceitful because of the fact that the company has permitted third-party gambling platforms to accept actual cash for online betting activities.

Roblox reportedly has an entire team of employees whose function is to prevent Robux from being used for gambling purposes. It claims it takes the matter seriously, an argument it reiterated in a media response about the lawsuit. This contradicts the fact that BloxFlip remains active two years after its launch.

Roblox Response

In an email exchange with Casino.org, Roblox provided the following statement after the story was published.

We are not commenting on the specifics of pending litigation,” explained Roblox. “That said, Roblox’s Terms of Use and Community Standards prohibits use of sites like those mentioned. Furthermore, these are third-party sites and have no legal affiliation to Roblox whatsoever. Bad actors make illegal use of Roblox’s intellectual property and branding to operate such sites in violation of our standards. Roblox has teams and processes in place to investigate these websites to protect our brand and platform, including, where possible, having the websites removed. In some cases, we engage with law enforcement as part of our efforts. Ensuring a safe and compliant online experience for users of Roblox is a core tenant of the company. Roblox will continue to be vigilant in combating entities who engage in practices that are in violation of our policies or endanger the safety of our community.”

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With Flutter Entertainment’s FanDuel and DraftKings combining to control about three-quarters of the U.S. online sports wagering market, it would be reasonable to expect that those operators are customer-retention leaders, and they are. Caesars Sportsbook is also making inroads on this front.

Of note, Caesars — whose app consistently ranks 8th in our proprietary testing — has begun to pull slightly ahead of FanDuel and DraftKings in terms of unified (iOS + Android) retention at Day 60,” noted Eilers & Krejcik Gaming (EKG).

Enthusiasm for new sports wagering apps, particularly those from well-known brands, is common in the industry. For operators, the key is retaining customers, many of whom were likely lured by generous sign-on bonuses. On that note, Caesars is impressive, particularly when considering the duopoly maintained by FanDuel and DraftKings.

Caesars Retaining Clients Despite Spending Cutbacks

Caesars was one of the first online sportsbook operators to dramatically pare marketing and promotional spending.

“The change comes with Caesars cutting back on churn-y mass acquisition and bonusing spending—leaving the operator with more loyal customers acquired via more organic routes like its Rewards scheme,” added EKG. “Otherwise, retention rates mirror what we would expect based on our product grades, with FanDuel leading the way.”

Translation: Caesars is proving adept at leveraging its Caesars Rewards loyalty platform as an incentive earner for online sportsbook and iGaming clients, and those bettors are responsive to that scheme because points accrued online can be used at the operator’s land-based casinos.

Online Sports Betting Customer Retention Tricky

Keeping online sports wagering clients loyal isn’t easy for gaming companies. As noted above, novice bettors often make decisions based on promotional dollars, while sharp bettors shop around for the best odds. As such, loyalty in this industry is hard to come by.

In traditional industries, customer retention trends predictably vary, ranging anywhere from the mid-50% range to the mid-80% area. Though there’s been improvement over the past couple of years, retention in the iGaming space, including sports betting, hovers around 40%.

On the other hand, some operators have client retention down to a science. For example, in 2022 DraftKings noted 83% of new clients stick around for a year, and 88% of that group use their accounts in year two. Importantly, loyal clients’ margin contributions to operators increase the longer they remain with a company.

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The app bearing the most iconic brand in the Caesars stable can be accessed by bettors of legal age in Michigan, New Jersey, Pennsylvania, West Virginia, and Ontario, Canada. The Caesars brand is applied to the operator’s famous Las Vegas Strip casino hotel, a gaming venue on the Atlantic City Boardwalk, and a casino resort in Windsor, Ontario. It’s also used by the operator’s new property in Danville, Va., as well as at a location in Southern Indiana. Harrah’s New Orleans will soon take the Caesars name, too.

Caesars Palace Online Casino will offer a range of exclusive branded Caesars games alongside hundreds of classic property favorites and cutting-edge online casino games, including American Roulette, slot games from best-in-class providers, Live Dealer Blackjack, Baccarat, digital classics like Video Poker, Progressive Jackpot slots and much more,” according to a statement issued by the Nevada-based gaming company.

The debut of Caesars Palace Online Casino arrived a day after the operator completed upgrades to its William Hill sports betting app in Nevada. That app was migrated to the Liberty platform, which Caesars Sportsbook Nevada moved to earlier this year.

Why the Caesars Palace Online Casino Debut Matters

Caesars has cobbled together decent market share in the online sports betting industry. But it’s well behind rivals FanDuel, DraftKings, and BetMGM. However, iGaming is an area where the operator can make significant inroads.

“Caesars does hit the mark in some areas. We found a good selection of content, particularly in live dealer, which featured Caesars-branded games,” noted Eilers & Krejcik Gaming (EKG). “We also found good withdrawals and good customization, with the ability to favorite games and sort by various criteria, including ‘min/max bet.’”

Another potential benefit for Caesars is that the new iGamng app allows users to accrue Caesars Rewards points that can be used at the operator’s 50-plus North American venues.

Caesars Rewards members can also “convert their Reward Credits to Wyndham Rewards points and redeem them for unforgettable stays at more than 50,000 hotels, vacation club resorts, and vacation rentals worldwide.”

New App Could Provide Second-Half Boost

Over the course of 2023, analysts have discussed the idea that the Caesars Palace Online Casino could be a catalyst for the operator in the back half of the year. That may be the case, but there’s also work to be done.

Caesars could well see an online casino GGR uplift in 2H23 by virtue of more external marketing, and better ability to target valuable customers in its Rewards database,” concluded EKG. “However the product itself is currently subpar — mainly due to speed and navigability — and needs work before being pushed hard to the mass market, in our view.”

Caesars Sportsbook & Casino, Tropicana Online Casino, Harrah’s Online Casino, and WSOP.COM are the operator’s other internet gaming brands,

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The timing is crucial because the 2023 college football season commences in just 10 days, while the NFL campaign starts on September 7. Football is the most wagered-on sport in the U.S. Add to that, Maryland, Massachusetts, Ohio, and Tennessee are each home to NFL teams, and in the cases of Ohio and Tennessee, high-level, heavily supported college squads.

The Fanatics Sportsbook makes being a fan easy with fast signup, easy betting, transparent withdrawals, an industry-leading search functionality, and a curated Discover page with the sports and bets that matter most to a customer,” according to a statement issued by the Florida-based company. “Sports fans can find live scores, plus lines and odds for their favorite teams and athletes. Fanatics Sportsbook features everything from moneyline bets, to spread bets, over-unders, player props, live in-game betting markets, and the always popular Same Game Parlays (SGPs).”

SGPs have been leveraged by Fanatics rivals such as FanDuel and DraftKings to increase hold and bolster profitability. While they amount to lottery ticket wagers, these bets are popular with novice bettors hoping to turn small grubstakes into big paydays.

Some PointsBet Talk

Earlier this year, Fanatics Betting & Gaming made clear it hoped to be live with mobile sports wagering in at least a dozen, and in as many as 15 states, by the start of the 2023 NFL campaign.

“With Fanatics Betting and Gaming’s recent acquisition of the U.S. businesses of PointsBet and its proprietary Banach Technology, the Fanatics Sportsbook will integrate the best parts of the PointsBet tech platform to supercharge its sports betting engine,” the statement said. “The Fanatics Sportsbook will also leverage PointsBet’s quantitative-driven trading models from Banach Technology in its new state-of-the-art risk and trading platform.”

Banach Technology is an Irish company specializing in tech useful in providing live betting and SGPs. PointsBet acquired it in 2021 for $43 million and, it’s viewed as a crown jewel for Fanatics.

Fanatics’ Rewards Program

Sportsbook firms with ties to land-based casino operators have leveraged related loyalty programs and served as platforms to drive increased visitation to those venues. Fanatics doesn’t run brick-and-mortar casinos. But its apparel business will be a centerpiece of the FanCash loyalty offering.

Bettors can earn 1% FanCash on straight bets, 3% on traditional parlays, and 5% on SGPs. FanCash “can be converted dollar-for-dollar into Bonus Bets and can also be used to purchase your favorite team merchandise at Fanatics.com,” noted the operator.

There was no mention of any ties between FanCash and Fanatics’ collectibles business, which includes the venerable Topps brand.

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