Daily Archives: June 17, 2020

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With major sports on hold, online bettors in New Jersey have gravitated to casino games, fueling a 124% rise in May internet gambling revenues in the state, to $85.9 million, relative to May 2019.

New Jersey is one of only a handful of states that permit online casino games like blackjack and roulette, and its market is the largest and most developed.

We view the May result as bullish for the market, wrote Morgan Stanley analyst Thomas Allen in a client note Friday. He noted that New Jersey iGaming revenues are running at a $1 billion annual rate, above his 2020 estimate of $813 million. Last years online gambling revenue in the state totaled $483 million.

We continue to believe the economic impact of Covid-19 coupled with strong recent iGaming results (in both N.J. and Pa.) should spur more states to legalize, though not as much as sports betting, Allen wrote.

DraftKings (ticker: DKNG), one of the two leaders in the New Jersey online sports betting market, has estimated that online gambling could ultimately become a $21 billion annual market in the U.S. based on the New Jersey experience, with about 30% of the U.S. getting access to online gambling.

The company projects that the online sports betting market may reach $18 billion annually in revenues based on the assumption that states with 65% of the U.S. population legalize it. FanDuel, which is controlled by the U.K.s Flutter Entertainment (PDYPY), is the other dominant company in online sports betting in New Jersey.

DraftKings stock was up $2.23, or 6%, at $39.11, in trading on Monday. The company has seen its shares more than double since it went public through a merger with Diamond Eagle Acquisitiona special purpose acquisition company -- in April. The company is valued at about $13 billion, making it the highest-valued U.S. gambling company after Las Vegas Sands (LVS).

DraftKings has been lifted by expectations that online sports betting will explode as more states legalize itencouraged in part by budget woesand as younger bettors continue to favor it. It has also been bolstered by optimism about the growth in online gambling.

New Jersey reported that the total amount of online sports betsor handle -- placed in May was $118 million, down 63% from May 2019. That decline was better than an 83% drop in April. June and July are expected to show some improvement, with PGA golf events having begun and Formula One racing set to resume in July.

FanDuel and DraftKings continue to dominate the online sports betting market in New Jersey. Their results are released through their physical gambling partners in the state, somewhat muddying the results. FanDuel and its partners had a 43% online sports gambling market share in May, while DraftKings and its partners had a 38% share, Allen wrote.

The share of the DraftKings group increased from its year-to-date share of around 31% and reflected in part its sponsorship of the popular televised charity golf match last month involving Tiger Woods and Peyton Manning against Phil Mickelson and Tom Brady.

DraftKings market share in online gambling is estimated to be about half its share in online sports betting at a high teens percentage.

The firm has been leveraging its leadership position in online sports betting to boost its position in online gambling. About half of its sports betting customers have used its iGaming platform. DraftKings has estimated that it is No. 2 in the New Jersey online gambling market despite having to compete with established on-the-ground casino operators.

Write to Andrew Bary at andrew.bary@barrons.com

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Online Gambling Booms in N.J., Lifting DraftKings Stock - Barron's

PETALING JAYA: Police have crippled an international online gambling syndicate operating out of a bungalow in SS7 here.

Petaling Jaya OCPD Asst Comm Nik Ezanee Mohd Faisal said police raided the house on Jalan SS7/2 at around 12pm on Monday (June 11).

"We arrested 12 foreign men and three foreign women aged between 21 and 49, who were in the hall area of the house, where several computers and mobile phones were set up allegedly for online gambling.

"The suspects entered the country in October last year and used the house as the call centre for their illegal online gambling activities since December," he said in a statement on Tuesday (June 12).

He said the syndicate was capable of raking in profits of between RM150,000 and RM200,000 a day and targeted gamblers from China and Canada.

"We have remanded the suspects for 14 days under Section 4(1)(c) of the Common Gaming Houses Act 1953 to further investigate if the suspects are involved in other online gambling activities especially in Petaling Jaya.

"We seized 11 computers, 58 mobile phones, 14 notebooks, four money transfer gadgets, three modems and three routers," he said.

Meanwhile, in an unrelated case, ACP Nik Ezanee said police from the commercial crime investigation department raided a premise at Bandar Botanic Klang at around 10.20pm on Monday as part of Ops Vulture, following a report lodged at the Sri Damansara police station.

"The complainant allegedly took a loan from 27 Ah Long amounting to RM35,000.

"Following observation, we managed to arrest 10 men aged between 18 and 27," he said, adding that investigations revealed the syndicate had been active for three years and had been involved in crime cases around Klang Valley.

He said all the suspects were remanded for three days to facilitate further investigations.

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PJ cops bust international online gambling syndicate - The Star Online

Latvian operator Enlabs has announced the launch of a new online gambling brand in the country in an effort to further bolster its presence in its home nation.

Laimz will run on Enlabs new proprietary gaming platform, offering customers a mobile-first casino and bingo product.

Enlabs chief executive George Ustinov said Latvia is an important market for the operator, which currently accounts for the majoirty of the business' revenue. Enlabs was also the first operator to secure an online gambling licence in Latvia.

This is our playground where we do field tests on new concepts, ideas and products, Ustinov explained. We thoroughly analysed the market and wanted to design a refreshing offering with a clear market fit.

The casino vertical represents more than 72% of the Latvian online gaming market, and show the highest growth among all the product verticals. We will also be the first operator to offer bingo to the market, and there are long time retail bingo traditions in Latvia.

Enlabs managing director of Central and Eastern Europe Dainis Niedra added: We strongly believe we have several unique selling points with this brand, and that it will fit very well into our multi-brand strategy.

The launch comes after Enlabs last week resumed operations in Latvia after a temporary ban on gambling across all channels came to an end on 9 June.

Both Enlabs online and land-based operations have resumed after the shutdown triggered by the novel coronavirus (Covid-19) pandemic.

Continued here:

Enlabs to launch new igaming brand in Latvia - iGaming Business

Sports betting in the United States has come a long way, and all the progress has happened extremely quickly. On May 14, 2018, the U.S. Supreme Court ruled the ban on sports wagering was unconstitutional, and that left it up to each individual state to decide the legality of gambling on sports within their borders.

You can now place a legal sports wager in 18 states. That leaves 32 states to go, and the legislative process may now get sped up due to the coronavirus pandemic and its disastrous effect on state economies.

If you look at the highlights from the gambling revenue report youll see that New Jersey is the state which provides the model for all others to work off of. The Garden State was instrumental in getting us to this point, and its possible, when all American sports are back in action, they could eclipse Nevada as the epicenter state for sports betting in this country.The proximity to Atlantic City sure has helped.

One of New Jerseys neighboring states, Pennsylvania, has seen the fruits of legalizing sports betting as well. The highest single month revenue for sports betting in Pennsylvania was January 2020, when they took in $22,841,192. New Jersey, generating a revenue figure of $53,561,626, also had their best month in January. A whole lot of that was due to Super Bowl betting, and everyone has declined from that peak since. And of course, the numbers fell way off a cliff once the COVID-19 crisis hit and shut down American sports for the time being.

The numbers will return to normal, and eventually down the line, surge once we get our big, brand name team sports back. As former NBA player turned NASCAR broadcaster Brad Daugherty once said, the NFL slaughters everything in America.

Once theyre back, sports betting will be as well, because there are numerous ways to bet on the National Football League, and all of these methods are quite popular. Betting for/against the spread, the over/unders, prop betting etc. are all huge, but the real explosion of growth has been in daily fantasy. The debate about whether or not daily fantasy sports is gambling or not doesnt matter much anymore. Legal sports betting in the U.S. is in a new era now.

Paul M. Banks runs The Sports Bank.net, which is partnered with News Now. Banks, the author of No, I Cant Get You Free Tickets: Lessons Learned From a Life in the Sports Media Industry, regularly contributes to WGN TV, Sports Illustrated, Chicago Now and SB Nation.

You can follow Banks, a former writer for Chicago Tribune.com, on Twitter and his cat on Instagram.

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The Rise of Online Gambling and Sports Betting in the United States - The Sports Bank

A

s betting shops begin reopening in the UK, GVC, owner of Ladbrokes Coral Group, has produced a blog presenting CEO Kenneth Alexanders views on how the UK sector is tackling problem gambling issues.

A disorientating feature of the lockdown period has been the absence of the familiar rhythms of the sporting calendar. "Of course, lots of people enjoy adding to the excitement by placing a wager," Alexander explains. "Just look at the Virtual Grand National which saw around 5 million people tune in to watch on ITV and placed bets which raised 2.6m for charity in April."

The popularity of these combined leisure activities is one of the factors that have made the gambling industry a hugely valuable one to the UK economy, contributing around 9 billion Gross Value Added. GVC alone is one of the 20 biggest taxpayers in the UK.

However, "there is also no denying that, for a small minority of people, gambling can become a problem," he admitted. It was understandable, therefore, that the lockdown could exacerbate the issue for some.

There is a significant anti-gambling lobby that believes punitive and mandatory restrictions notably clamping down on online stake thresholds will help problem gamblers. "I dont doubt for one minute their genuine desire to help solve the problem, but such measures would actually only serve to exacerbate the issue: punters would switch instead to unlicensed black market operators, where there is zero customer protection, interaction or intervention for those who may be at risk," he explained. In other words, it is an approach that could damage the very people that it seeks to protect.

The proportion of UK customers betting with illegal gambling operations is currently amongst the lowest in the world, but the black market in this country still generates 1.4 billion of turnover a year.

"We only need to look at other countries that have imposed onerous regulations, such as France and Australia, to see that they lead to the rise of substantial black markets. And problem gambling has been found to be up to 150% more prevalent among illegal operators. Furthermore, it is not a case of simply stopping black market operators by using website blocking devices: the US tried this approach in 2006 when they attempted to stop online gambling, and it did nothing to prevent billions of dollars from being spent on black market operators," he explained

"We are constantly improving our player protection policies based on the extensive data and technological capabilities that we have. For example, our software-based algorithms, known as markers of harm, can identify problematic customer behavior, which helps our responsible gambling team intervene before serious problems develop," Alexander went on. "We are working hard to better understand the nature of the problem, and have made a 10-fold increase in our voluntary donations to the research, education, and treatment of problem gambling. We also believe there is simply too much gambling advertising particularly around football and have therefore voluntarily withdrawn our advertising on football shirts and stadiums around the country."

"We know that our customers want to see us go further on safer gambling measures. For example, when asked, punters tell us they are strongly in favor of having the ability to set voluntary limits for online slots games, and as a result, we have implemented this change across our business," he said.

According to Alexander, headline-grabbing blanket restrictions on stake limits may appear superficially attractive, but ultimately, they are likely to be hugely counterproductive. "Regulation should encourage the industry to account for individual circumstances, provide tools that let customers manage their own gambling at a level which is affordable for them, and intervene before problems develop."

Excerpt from:

'As live sport returns, the betting industry is redoubling its efforts to protect problem gamblers' - Yogonet International

Casinos have been a part of human culture since a very long time. As technology advanced, the ways in which people gambled also changed. The online gambling industry has grown into a multi-billion dollar industry and so did its reach. And when it comes to Poland the business has never been better. There is a level of trust associated with the online gambling sites which are registered with the EU, as it is legally okay to use their service. Even though one is not actually allowed to gamble in Poland, the registered EU companies does not break any law to bring you their service. This has indeed fueled business in Poland which is home to some of the very best online casinos in Europe.

Things can get pretty monotonous at times such as now where having a social life has its own limitations. If you are a person who loves gamble, but do not know which online casino to choose from, then you have come to the right place. There are quite a lot of online gambling platforms available in the market and this can be very confusing at times. Especially when you are looking for something secure and trustworthy, being a little skeptical is quite alright. This is why it is always better for you to directly inquire about the websites and finally be at peace with your choice.

One of the most reliant gambling websites available in the market is Betsson AB, which is a Swedish organization that offers various services including bingo, poker and even sports betting. This is indeed one of the best things about Betsson. It has everything under one roof, making it much easier for the customers to find the niche they enjoy the most. Be it casino, sports betting or poker, this place has it all. Also Betsson has a huge collection of casino games which sums to a total of 14,000! The software providers are also top notch, and the choices are many.

They have mega progressive jackpot slots and is now a part of one of the very best networks present which is the iPoker network. They also have live dealers which amps up the experience. Users can find Mult Table Tournaments, Pot Limit Omaha and many more games here which are available in the best graphic standards one can ever imagine.

Some of the advantages that make Betsson stand apart from its competitors are their welcome bonus of 2000 euros and a plethora of promotions. The website is supported by Mac, Windows and Linus. The best part is that there is a mobile version also available for the website. One does not have to download any hefty software to unlock the services in their mobile. The app is compatible with both Android and IOS operating systems. The welcome bonus is a whopping 1000 euros when it comes to the mobile version. They also provide services and assistance all day every day. There are players from all around the world available here and the users can choose from the never ending list.

Betsson is a licensed platform and hence makes it alright for people to use their services. Having said that, there are certain countries where even this is not allowed. Make sure to have a look at the list, just to be on the safe side. Twister SNG is one of the biggest highlights of this online casino. It is their spin and go tournament that allows three players to multiply their buy-ins up to 10,000 times. This website also has some of the sleekest loyalty programs available, where the player with the highest VIP status is allowed a 30% rakeback.

When it comes to making payments and withdrawing your share from the website, Betsson allows a wide range of options. One can use debit, cards credit cards and payment methods like Skrill, Paysafe, Ecopayz and so on. The place where you live also plays a role in the number of payment options available to you. Uses can be a part of the cash games which is one of the easiest ways to earn reward points. You are also able to create an alias as you join the game and according to your skills, reach levels bronze, silver, gold and star.

Go check out KasynoHEX.com where you can find legit information about Betsson AB and clarify all your doubts regarding the same. The website not only provides reviews of various casinos but also gives you intel on almost everything one needs to know about the gaming arena. You can also compare Betsson with other casino reviews available there, and also have fun picking up some bonus tips about the slot machines on the way!

Picture Credits: Google

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Online Gambling: Find out the best online casinos in Poland (2020) - Techstory