Daily Archives: August 25, 2022

When regulatedNew York online sportsbooks begin their first full season of NFL wagering in September, the states nascent market enters new territory under propitious circumstances.

Since launching Jan. 8, New York sportsbooks have already handled more than $9.7 billion in sports wagers statewide, a figure that cements the Empire State as the nations capital of sports betting. Online wagering has already generated more than $368 million for New York state tax coffers, while only four states across the nation have eclipsed the $100 million threshold since the U.S. Supreme Courts repeal of PASPA in May 2018.

The explosion of sports betting leaves New York State Gaming Commission Executive Director Rob Williams optimistic that the state could generate $500 million in tax revenue from online sports wagering in the first year of the market. For context, when former Gov. Andrew Cuomo reversed course on sports betting in 2021, his administration projected that the state would not clear that figure until Fiscal Year 2026, at the earliest. The numbers are astounding when you consider that more than two other dozen stateshave generated around $1.31 billion in combined tax revenue from legal sports wagering since May 2018.

Were very pleased with the overall success of the mobile sports wagering industry in New York. We are very cognizant that weve reached those great numbers without going through a football season, Williams told Sports Handle last week on the sidelines of the Racing and Gaming Conference at Saratoga.

From the outset, there were clear indications that New York appeared poised to shatter national records, based on the sheer volume of activity in certain sports-crazed neighborhoods of Manhattan. New Yorkers placed more than 300,000 wagers over the first hour of legal sports betting in the Empire State, and a total of 17.2 million over the first weekend on Jan. 8-9, according to Vancouver-based geolocation provider GeoComply. For the Super Bowl, New York activity represented a whopping 25% of the companys U.S. sports betting traffic, ranking first.

Consequently, there are strong indications that New York will surpass $2.3 billion in handle for the upcoming NFL season. Of the seven states that provide a breakdown for revenues by sport, wagering on the NFL last year represented about 18-20% of their overall handle, according to Sports Handle internal research. The figure jumped to 27.6% in Mississippi for retail sports wagers (the state only accepts online sports bets inside casino properties). In Nevada, football wagering represents about 37% of the states overall handle on a historical basis, according to the UNLV Center For Gaming Research. Last year, football represented 33.4% of the handle statewide.

New York launched online sports betting one day before the final Sunday of the 2021-22 NFL regular season.

When you toss in betting on college football, New York appears on track to clear $500 million in tax revenue. As a point of comparison,Colorado handled more than $158 million in college football wagers in 2021, on top of the $689.1 million state sportsbooks handled on the NFL. Although the Colorado figures contain wagers in several offseason months, the bulk of wagering occurred in the four months during the season. The population in New York outranks Colorado by a factor of 3.4x.

Theres no doubt that as we go through this upcoming fall football season with both college and professional football that we will exceed the initial revenue numbers that we were aiming for, Williams said.It has been a wonderful success without what everyone concedes is the most important season to benefit sports wagering, so were very bullish on the market.

At a hold of 8%, New York sportsbooks could generate more than $180 million in gross gaming revenue (GGR) from the NFL alone. Given the explosion of single-game parlays, it stands to reason that the hold this fall could be considerably higher. For those attempting to forecast the NFL hold in New York, trends on the hold from parlays in Illinois might be instructive:

The aforementioned study from UNLV, which covers sports betting trends since 1984, found that parlays produce a win percentage for books of around 30%. Over the same period, the win rate for all other wagers is around 6%.

In neighboring New Jersey, the handle for NFL action last year hovered around $2 billion, one of the highest in the nation. In New Yorks first six full months of online sports betting, the Empire State dwarfed its neighbor in both handle and GGR by a wide margin. The figures are in line with population data from the U.S. Census Bureau, as New Yorks population of 19.8 million is more than twice that of New Jersey.

Formerly in charge of the states lottery division, Williams was appointed as executive director of the NYSGC by Cuomo in 2013. Williams covered a wide range of sports betting-related topics last week in an exclusive 10-minute interview with Sports Handle. Williams has made few public appearances since the NYSGC selected the states mobile sports wagering licensees last November. One topic that has generated a significant amount of chatter throughout the industry surrounds the tax treatment of promotional activity.

In an intense environment for the sports bettors dollar, top books use promotions as a way to differentiate themselves from their competitors. Specifically, the operators utilize promos in the form of boosted bets and free wagers as a crucial customer acquisition tool. While Pennsylvania imposes a tax rate of 36% on sports betting GGR, the Keystone State allows operators to write off promotional activity from taxable GGR. As a result, the effective tax rate in the state is closer to 15-20%, industry sources told Sports Handle.

The deduction is not available in New York. When the commission released a 130-page Request For Applications that governed the competitive bidding process for mobile sports wagering last July, the NYSGC stated explicitly that write-offs for promotional activity would not be under consideration, Williams noted. Consider the language articulated in the lengthy document.

[(f)[ (g) Promotions. Promotional [gaming credits] spend shall not be [used in a sports wagering lounge] deducted from revenue or added to loss when calculating gross gaming revenue. No promotion related to sports wagering may be offered without the priorapproval of the commission.

5329.29. Gross gaming revenue reports and reconciliation., New York Mobile Sports Wagering RFA

Weve been very adamant that that is not something we would be entertaining, Williams said, adding that operators are making a strategic business decision when they choose to offer promotions.That said, the legislature always has an ability to modify whatever we do, and its in the legislative prerogative to determine whether they think thats an appropriate deduction from gross gaming revenue.

A top industry lobbyist has urged New York to eliminate the restriction. Speaking on a Vixio Regulatory Intelligence webinar in June, FanDuel executive Andrew Winchell likened the arrangement to a pizza shop that periodically offers free pies as a way to entice customers. A new shop might even offer a pizza valued at $10 at a steep discount on Five Dollar Tuesdays, he explained.

The state says each of those pizzas are worth $10, so were going to tax you at $10, said Winchell, who serves as FanDuels director of government affairs. Thats the nature of how it is and it increases the effective tax rate. If you dont have an exclusion for promotional credits, you are in effect raising the effective tax rate on operators.

New York is not the only state that prohibits the deduction. Beginning July 1, Virginia eliminated a provision that allowed operators to write off promos. In May alone, Virginia sportsbooks deducted approximately $9.96 million in bonuses and promotions.

One reason that New York is lapping the field when it comes to tax revenue revolves around the states 51% rate on sports wagering GGR, a rate that equals New Hampshire as the highest in the nation. On Junes webinar, Vixio listed nine potential headwinds for the sports betting industry moving forward, through a survey of 125 gaming professionals. The possibility that a New York-style tax rate could be replicated in other key states ranked first with 29% of respondents selecting it as the top concern.

While DraftKings CEO Jason Robins noted in February that there was some chatter around if the New York state legislature could lower the rate, he stopped short of urging the state to apply a downward adjustment. At the same time, New York Assemblyman J. Gary Pretlow has been adamant that the tax rate should only be modified if several other licensed sportsbooks are allowed to enter the marketplace. Under an intricate tax rate matrix that contemplated various scenarios for the final tax rate in New York, the state determined that a 51% rate would be appropriate for maximizing tax revenues, if nine operators joined the market. Although one scenario called for a 35% tax rate, it would only take effect if 13 operators received licensure in New York.

Last November, the NYSGC selected nine operators, including members of a so-called super bid comprised of industry heavyweightsFanDuel,DraftKings,BetMGM, andBally Bet. Williams explained last week that the state essentially has contracts with the nine entities on the acceptance of a particular tax rate and the number of entrants in the market. Moreover, it is challenging to introduce new competitors into the market without disturbing the contractual agreement the state has with those entities, he indicated. In the event that additional books enter the market, the state will have to generate enough revenue to offset declines from a lower tax rate, a proposition that Williams described as a difficult lift.

Any projections for the New York handle in fiscal year 2023 may need to be recalibrated if the Buffalo Bills make it to the Super Bowl. One ardent Bills fan, Gov. Kathy Hochul, could place a ceremonial wager on her beloved Bills if the preseason Super Bowl favorites earn a spot in the big game. Hochul, a Buffalo native, became the states first female governor last August.

Regardless, New York is on its way to shattering expectations. The other five New York operators Caesars Sportsbook,Rush Street Interactive,PointsBet,WynnBET, and Resorts World gained market access through a Kambi-led consortium. Last year, the consortium projected that a mature New York market with nine operators would generate $892.5 million in annual state tax revenue at a tax rate of 51%. A fiscal year in New York runs each year from April 1 to March 31.

Across the industry, it typically takes a new state sports betting market anywhere from three to five years to reach maturity. New York isnt quite eight months in.

Ultimately, our main goal is to raise revenue for the state of New York and weve been successful with the model weve created, Williams said.

Chris Altruda contributed to this report.

Go here to see the original:

NY Regulator Expects State To Clear Year 1 Sports Betting Targets - Sports Handle

In 1987, a teenage boy named Joel Soper rode his bicycle to the Cloverlanes Bowling Alley in Livonia, Michigan. After parking the bike, he walked down the street and snuck into the now-defunct Detroit Race Course to bet on a horse named Bring on the Rain.

I bet my bet, and it was actually raining out, recalled Soper. He won by four lengths and I won like $150. And that was it I was hooked.

Over the course of the next 35 years, Soper would earn millions of dollars as a successful landscape entrepreneur and proceed to gamble away every penny of it, mostly on sports bets.

Soper, who recently published a book, Never Enough Zeroes, about the lessons that can be learned from his epic losing streak, has not gambled in over six months. So what finally made him stop?

Live betting ruined my life, he said.

Specifically, push came to shove when, about nine months ago, Sopers wagering consisted exclusively of live or in-game bets.

Im betting Russian ping-pong, tennis, live betting as the over/under moves, 38 plays in the same f**king game, explained Soper, who will be profiled next week on Sports Handles sister site, MI Bets.

Of course, bettors like Soper represent one extreme of the sports wagering spectrum. At the other are recreational bettors who just like to get a little action down to make their sports consumption more interesting.

But could the proliferation of in-game wagering (bets placed on a sporting event after its begun) and its subset, micro-betting (wagering on individual occurrences within a sporting event, like the result of the next point in tennis), in the United States bridge the gap?

A recent peer review published in the Journal of Gambling Issues cited a 2019 Australian study that stated, Among those who bet on micro events, 78% were considered problem gamblers and only 5% as non-problem gamblers. Among non-micro-bettors, the problem gambling rate was 29%. Micro-bettors were found to be younger, well-educated, and single and to participate in multiple types of gambling.

The research and anecdotal experience confirms theres a higher risk, said Keith Whyte, executive director of the National Council on Problem Gambling. You can place more bets more quickly that is a risk factor for any type of gambling. But I think one of the things thats a little deeper, not necessarily backed by research but from anecdotal experience, is that many sports bettors see it as a game of skill. A lot like some poker players, folks spend an enormous amount of time researching statistics and probability. But most in-play bets remove a lot of that skill and strategy.

Enter Americas reigning doofus du jour, social media maniac/boxer Jake Paul, who recently announced that hed be teaming up with Simplebet co-founder Joey Levy to launch a micro-betting app called Betr.

From a business standpoint, their timing couldnt be, uh, better. In a recent earnings call, Sportradar CEO Carsten Koerl called in-game betting unstoppable, adding, Undoubtedly, once it starts, you cant reverse it. And as Sports Handles Matt Rybaltowski recently reported, DraftKings just rolled out a new micro-betting market for Major League Baseball pitch speeds, while BetMGM noted in May that its in-game handle had risen 160% on a year-over-year basis.

All told, you can hardly swing a dead cat presumably one strapped to a bottle rocket and used as a prop in one of Pauls YouTube videos these days without hearing the words in-game, in-play, or micro-betting.

In a just-published interview with New Yorkmagazine, Paul talked about the TikTokification of sports betting and how he and his friends will gamble on just about anything, all the time.

When were all in a house together, theres got to be at least two bets going every hour, he boasted.

In New Yorks piece, Lisa Power, director of the Center for Gambling Studies at Rutgers, is quoted as saying, By mentioning TikTok, theyre basically saying, Were pitching this to really young people. What we know is that the younger people start gambling, the more likely they are to develop a problem down the road.

In response, Levy said the only way for Betr to become something thats going to endure for the next 20 to 30 years is by really championing responsible gambling and being incredibly focused on that.

By way of reminder, Levys business partner in this venture is Paul, an individual not widely recognized for practicing or promoting restraint in, well, anything.

Its the smartest thing hes ever done, said Soper, when assessing Pauls business acumen in launching Betr. Then again, Soper added, Hes gonna suck in so many kids and ruin lives.

Whyte said, Were concerned about many of these influencers who have not demonstrated much social responsibility across their brand or platform, and we fear theyre going to take a similarly irresponsible approach to gambling and sports betting.

Just because Jake Paul tends to skew to a much younger audience, and Im a firm proponent of 21 should be the age for gambling, its a little dangerous to put that in the hands of an 18-year-old or someone who doesnt quite understand the consequences of money, added Captain Jack Andrews (a pseudonym), a professional gambler and co-founder of the sports betting education site Unabated. Im a little bit concerned about Jake Paul getting involved and I dont want [his followers] to view micro-betting as everything thats involved in your absorption of sports has to be a bet. Is this a run or a pass? Bet now! It does kind of hyper-actualize sports observation.

Given that he makes a living in the sports betting field, Andrews isnt necessarily opposed to micro-betting and is, in fact, quite bullish on the broader in-game sector.

As a sharp bettor, I like in-game betting because its harder for the sportsbook to spot the sharp action, he explained. Theres really no closing-line value because the line is always moving. Its not necessarily indicative of the sharpness of the bettor. I can disguise my action a lot better in-game, get that edge, and the sportsbook doesnt quite see that edge. I believe, personally, that sportsbooks are so blinded by this belief that in-game is where they need to be that they dont see wins and losses.

The problem that I have with micro-betting is the house edge is very high in those markets, he continued. What will be the outcome of this at-bat? You have four options. You can generally expect to have an 18 to 25 percent house hold on that market, and thats hard to overcome for any bettor, a sharp or a square or whatever. Joey Levy also founded Simplebet, which is doing all these micro-betting markets. Id like to see more competition so that house edge shrinks down and people try to get competitive based on price.

Echoing Whytes sentiment somewhat, Andrews compared micro-betting to slot machines, explaining, Instead of having three hours for your bet to resolve, you have 30 seconds then you can make another bet. If the recreational bettor sees it like it is, if theyre okay with that, its their choice to play it or not. Its not like its deceptive. I would argue that same-game parlays are more deceptive, because you dont necessarily understand the math around them.

Returning the favor, Whyte added, I think parlays are particularly difficult to understand for the average bettor. But it can be fun and also appeals to recreational gamblers who are not strategy-based. Some of the elements that make micro-betting entertaining may make it appeal more to a recreational player, and that might be a good thing. Its just like the lottery the odds are probably really bad. If you know that going in, then have fun with it.

Professional sports bettor Bill Krackomberger has a simple rule when it comes to in-game wagering: Never place a live bet unless its during a commercial break.

Id be concerned about being put into a queue where youre going to be on a delay where already they have a seven-second TV delay and another five-second AM frequency delay, he explained. Youre on 12 seconds and you get put in a queue for another five to eight seconds, now youre on a 20-second delay. Now you want to throw in micro? Oh boy. I dont think were there as a sports betting community yet.

To this end, Keith Whyte said, I think micro-betting exploits the information asymmetry between the books, the data management companies, and the individual player.

Krackomberger and Whyte have an unlikely ally in Deck Prism Sports co-founder Ed Miller, whose firm, with financial backing from Las Vegas Sands, recently merged with Huddle Gaming to form Huddle Tech. Miller and his fellow Deck Prism co-founder, Matt Davidow, literally wrote the book (The Logic of Sports Betting) on in-game betting, an experience Miller found to be terrible until he and Davidow decided to devote their professional lives to improving it.

There were many ways that it was terrible, but the one we thought we could solve was how much friction between the customer and getting the bet made delays with spinny wheels, bet rejections, arbitrary limits, odds moving too quickly, said Miller, who has counted Circa Sports among his clients. Theres some threshold where if you try to make a bet and it doesnt go through, if that happens frequently enough, at some point people are gonna get fed up with it and say, Forget this, Im gonna go do something else. All that friction is a defensive measure. The book wants to avoid getting taken advantage of, and we felt we could solve that problem with technology.

While he feels as though hes largely accomplished his mission of creating a live odds feed thats clean enough and fast enough, Miller groused, Another problem with some of the in-game betting is that when the bets do go through, the vig is really high. Its something the books do to guard themselves against the sharper customer, but it degrades the experience of the casual customer. The books not worried about some guy whos a $5 bettor; its worried about a more sophisticated bettor whos wagering $500.

In a perfect word, he said, I think these could be good, fair products that are fun that dont cost a recreational bettor a ton of money.

While he declined to comment specifically on Levy and Pauls venture, Miller did say, Micro-betting is almost a marketing term that some companies have invented. But creating odds feeds is a hard problem. I think sportsbooks are going to have a hard time with these products.

Read more from the original source:

Is In-Game Betting The Future, Or The Slipperiest Of Slopes? - Sports Handle

Posted on: August 24, 2022, 12:35h.

Last updated on: August 24, 2022, 01:22h.

The Dominican Republic (DR) continues to revamp its gambling industry in an effort to prove that it provides legitimate operations. After warning a few months ago that lottery and sports betting operators needed to register, the DR is following through with its promise to cut off those who dont.

The DR ran into trouble in May when allegations surfaced that a lottery draw was rigged. However, this past February, legislators already approved an initiative to begin a major reform. The alleged rigged draw served as a catalyst to give the issue more strength.

The new rules included the requirement that all lottery and sports betting operators needed to come forward and register in order to continue operating. The Ministry of Finance is now ready to begin forcefully eliminating those entities who have not complied.

Initially, the operators had until April 18 to register. Later, the Ministry of Finance extended the deadline to May 30, before extending it again to June 6. These delays were the result of disorganized management within the National Lotterys operations.

There was also friction between the government regarding the regularization process. For decades, legitimate operators followed the rules. However, there were also a number of those who didnt.

Sports betting is legal in the DR. However, there was previously no significant oversight. As a result, a number of sportsbooks began appearing that never registered with the Directorate of Casinos and Gambling (DCJA, for its Spanish acronym).

Regularizing the industry essentially gave the latter group a free pass after operating illegally for more than 20 years. This, according to the National Federation of Lottery Vendors, was not acceptable.

The DCJA, part of the Ministry of Finance, has been working with all entities on both sides to increase compliance. It has been regularly updating a list of names that have already completed the process, and time is running out.

This past Monday, the DCJA issued its latest ultimatum. The deadline to register has passed, and there wont be any more extensions. Entities that are not in compliance now face fines, seizure of equipment, forced closures, and possible legal action.

They could have some help tracking down those who refuse to conform. The DCJA is asking regularized operators to identify the illegal entities, which theyll likely do since it benefits them in the long run.

Since the DR began its crackdown, it has come to understand how big of an issue it had on its hands. There were 71,000 registered operators in July, according to the DCJA.

This means the DR eventually can start collecting more tax revenue. However, the National Directorate of Internal Taxes (DNII, for its Spanish acronym) isnt seeing green yet. It stated recently that just because the entities have completed the registration process doesnt mean that they are legal and are contributing revenue.

That process is on its way. The Ministry of Finance is going to work with the DNII to draft the necessary measures. Because there were so many unregulated entities operating in the country for so long, the DR has had difficulty determining how much revenue the regulated segment may hold.

Go here to see the original:

Dominican Republic To Cut Off Unlicensed Lottery and Sports Betting Operators - Casino.Org News

DAZN has taken an important step towards taking advantage of the impressive growth of the sports betting market around the world. The group has signed a deal with Pragmatic Solutions to launch its own sports betting brand, DAZN Bet.

According to the company, DAZN Bet will be a social gaming experience for sports fans. The intention is to diversify the companys sources of revenue, with the objective of also selling goods, tickets and NFTs.

According to the MKT Esportivo website, the project is still in a beta stage. DAZN argues that this initiative is being carried out so that it can understand how users engage with a betting offer.

In addition, the launch of the project is expected to take place in the UK. However, DAZN Bet should reach other licensed markets quickly, such as Canada and Spain.

The initial launch of DAZN Bet is the start of an exciting journey across media and sports betting, and further fulfills the commitments we have made to revitalize the display of sports for fans, said Mark Kemp, CEO of DAZN Bet.

According to Kemp, the aim is to develop an entertainment product that is even richer and more engaging for the public. We are on a mission to create a richer entertainment product that, over time, will be integrated into DAZNs daily sports business wherever possible.

The CEO of DAZN Bet concluded: While this market entry is a learning phase, our goal is to provide the global community of DAZN sports fans with a fantastic recreational sports betting product.

DAZN bills itself as the first live and on-demand sports-focused streaming service on the planet. The platform has national and international sports tournaments. The service can be accessed by most devices such as Smart TVs, smartphones, tablets, video games and computers.

The platform debuted in August 2016 in Japan, Germany, Austria and Switzerland, then expanded to Canada in 2017, Italy and the United States in 2018. The following year, the service arrived in Spain and Brazil. Currently, DAZN is available for over 200 countries and territories.

Read the rest here:

DAZN partners to launch its own sports betting brand - iGaming Brazil

All online punters anticipate receiving the best betting services on their gambling platforms. Many are happy with a few benefits and advantages when using a preferred cryptocurrency sports betting site. However, others will take all considerable measures to benefit from VIP benefits and opportunities at the best crypto sports betting sites.

Top crypto sports betting sites know this, which explains why they provide extensive VIP promotions and loyalty programs. Like their physical counterparts land-based and brick-and-mortar betting sites, Bitcoin betting sites strive to pamper and appease their most loyal and high-roller customers with the best opportunities and latest features. However, in this article, we will discuss all you need to know about the perks and bonuses of the best crypto sports betting sites.

You can receive several rewards if you frequently play at cryptocurrency sports betting sites that provide VIP bonuses. Below is a list of some of the best tips weve put together for you.

Crypto sports betting site bonuses may also include additional deposit bonuses. However, players who make deposits can get up to a 100% bonus on all their deposits on the Bitcoin sports betting sites.

Moreover, they also offer to welcome bonuses that allow new punters to get started on the crypto sports betting sites. Punters should remember these offers vary from one BTC sportsbook to the other. Furthermore, the worth of prizes you will get is related to their worth and value.

Most top cryptocurrency sportsbooks will give you loyalty points for placing bets on top sports competitions such as Premier League. Moreover, they are frequently used for two objectives. First, as mentioned earlier, punters can use them to leverage new levels of loyalty.

Second, they are commonly accumulated and then exchanged for rewards in the form of cash. In a rewards store, you might occasionally be able to use your loyalty points to buy VIP benefits.

Two of the most common VIP incentives offered at cryptocurrency sports betting companies are free spins and cashback offers. With the former, you can typically play popular Bitcoin slots for free with a chance to win real money.

These will probably only be available on a select few slots, and they will nearly always be played for the minimum bet across all open lines. Contrarily, cashback bonuses typically restrict the number of games you can play and the amount you can wager per spin, hand, etc. Youll receive additional free spins or cash incentives as you advance in a VIP program.

The crypto sports betting site may decide to reward you with specialised bonuses and personalised promos if you are a very high-ranking customer of the platform. For instance, players who frequently participate in tournaments could be asked to participate in VIP tournaments and other special events.

Additionally, lovers of slot games get free spins on any machine used regularly. They can include higher table limits for big rollers or provide unique prize pools to members of your loyalty tier.

You may have noticed that bonuses at sports betting companies with VIP bonuses dont always come in cash. However, two well-known advantages are shorter withdrawal periods and tighter withdrawal limitations.

Both benefits may be reserved for a loyalty programs top participants or may be improved for all participants as you advance up the VIP system.

The benefits above and VIP rewards are not for all the crypto sports betting websites. However, crypto sites like Ethereum sportsbook will provide services with fast operations and transactions and offer to bet on esports games as additional benefits.

Furthermore, your Bitcoin betting sites might not offer any of these deals. However, as they are typically the most common offers, they are available in top crypto sports betting sites with VIP bonuses having secure and safe operations.

Depending on the kind of service the crypto sport betting sites offer, there are different procedures for claiming crypto rewards. For instance, many well-known crypto sports betting sites employ a points-based and tier-based system. Gaining new membership tiers or levels allows you to access advantages (daily, weekly, monthly, or one-time).

If you meet specific criteria, another sportsbook might give you VIP bonuses; alternatively, they might decide to do so randomly. In reality, visiting the sportsbook bonus page and reading up on it are the only ways to learn how to use bonuses at your Bitcoin betting sites.

The most popular kind of cryptocurrency sports betting bonus is based on points and tiers. Points, often known as loyalty or VIP clubs, are earned when you wager on games. Players can then use these points to determine their loyalty tier and level. Then, based on your story, you can claim a certain kind of advantage. As you move up the loyalty ladder at a Bitcoin sportsbook, the promotions get greater (in most cases).

Most cryptocurrency sports betting sites that provide VIP benefits will enroll you in a loyalty program as soon as you sign up. Youll start receiving loyalty points as you start betting, and then youre set to go.

But not all cryptocurrency betting sites offer loyalty programs; some only offer VIP promotions. You typically have to be individually chosen (or invited) by the site to receive these discounts. It would help if you played regularly or with a lot of money to have the best chance of being selected for these rewards.

Visit link:

Perks and Bonuses Associated With Using the Best Crypto Sports Betting Sites in 2022 - The Sports Bank

Posted on: August 25, 2022, 12:06h.

Last updated on: August 25, 2022, 12:06h.

DraftKings bettors will not have a shortage of wagering opportunities during the upcoming college football season, which kicks off this weekend.

The sportsbook and iGaming leader announced today that the platform will offer micro-betting on almost every college football game this season. Powered by Simplebet, DraftKings will allow bettors to bet on the outcome of each down and drive. The sportsbook expects to take action on over 100,000 plays during the 2022-23 regular NCAA football season.

DraftKings micro-betting lines will be available wherever the sportsbook operates online. DraftKings mobile operations are currently limited to Arizona, Colorado, Connecticut, Illinois, Indiana, Iowa, Louisiana, Michigan, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia, West Virginia, and Wyoming.

DraftKings partnered with Simplebet a year ago this month for micro-betting. Simplebet is a business-to-business tech firm that utilizes computer learning to allow every moment of every sports betting event to become a betting opportunity.

Simplebets turnkey sportsbook add-on product seamlessly allows an online operator like DraftKings to incorporate micro-betting lines. Unlike traditional sports betting where bettors wager on the outcome of a game either straight up or with a points spread, micro-betting breaks things down to provide in-game betting throughout the competition.

Before micro-betting, in-game betting was limited to scenarios such as which college football team would score more points in a specific quarter and if a certain player would rush for a certain number of yards. Micro-betting takes things further to allow betting on the result of the offensives next play, or in baseball, whether the next pitch will be a ball or strike.

DraftKings will offer users three in-game betting opportunities for most college games this season.

DraftKings micro-betting lines will additionally enable users to bet if a team will reach a specific yard line such as the 50 or red zone.

Sportsbooks and leagues see in-game betting as a way to increase fan engagement. Micro-betting comes with regulatory difficulties, but Simplebet claims its product is able to quickly produce in-game lines, take bets, and close the market all in a matter of seconds. While occasional glitches should be expected, state regulators will keep close tabs on DraftKings debut of micro-betting this college football season.

Assuming the platforms launch goes relatively smoothly, gaming analysts at JPMorgan believe micro-betting will quickly bypass traditional betting in terms of handle and sportsbook income. The financial services firm expects Americans to wager more than $9 billion legally on sports annually by 2025, with nearly $7 billion coming from in-game and micro-betting lines.

Problem gambling specialists say micro-betting poses substantial risks.

Micro-betting shortens the lag between bet and reward, increasing the speed and frequency of gambling, which increases the risk of problematic behavior and negative consequences, said Keith Whyte, executive director of the National Council on Problem Gambling.

Excerpt from:

DraftKings to Offer Micro-Betting on Nearly Every College Football Game This Season - Casino.Org News