When choosing a bookmaker, fast payouts are important for players and more
Fast payouts are a decisive factor when choosing a bookmaker
Paysafe conducted a survey among 2,000 bettors in the US, Ontario and the UK to identify the deciding factors when choosing a bookmaker.
– The main role in retaining players is played by a successful payment experience – 75%.
– 36% of users say fast payouts are more important than brand trust and promotions.
– For 27% of customers, a wide choice of payment methods is a priority.
– For players from Michigan and New York, fast payouts were a priority – 43% and 85%. In the UK, this is important for 39% of players.
– In Ontario, by contrast, the decisive factor was the level of trust to the brand (39%).
Bally’s Q4 loss amounted to $477M due to the weak North American performance. However, total revenue rose to $576.7 million, up 5% from the last year. The company’s North America Interactive division brought in just $26.3 million, up 41.6% from Q4 2021, but Bally’s paid $390.7 million in losses due to the impairment of North American assets. Amid this news, Bally’s CEO steps down from his position.
William Hill app stopped working right on the day of Super Bowl 2023
During the Super Bowl in the US on February 12 (the biggest sports betting day of the year), many players in Nevada were unable to make their bets.
The William Hill mobile app went down and was unavailable for most of the game until Monday. The Caesars Sportsbook app which also uses the William Hill platform was unavailable either.
The Super Bowl has brought more than $1 billion in bets to the state’s bookmakers since 2017, including $153.2 million this year.
Flutter is considering possibility of listing FanDuel on the New York Stock Exchange
FanDuel is one of the most profitable Flutter’s brands. FanDuel is expected to overtake all other divisions of the company and dominate the US market in the future.
The Board of Directors believes that listing on the New York Stock Exchange will help the company to:
– increase the authority of Flutter in the US,
– create more opportunities for hiring and retaining American specialists,
– open access to US domestic investors,
– increase the overall liquidity of Flutter shares.
The final decision will be made after discussing the issue with the shareholders of the company.
Gambling revenue in the United States broke last year’s record
In 2022, it amounted to $60.4 billion, in 2021 – $53 billion. The fourth quarter also turned out to be a record one: gambling revenue reached 15.9 billion. Online casino revenues also grew by 35% to $5 billion. The total volume of sports betting is $93.2 billion, the revenue from the vertical is $7.5 billion. Experts expect 2023 to be a record year for betting as betting is legalized in Massachusetts and Ohio.
New York introduces bill to legalize online casinos
According to the bill, a ten-year license will cost $2 million, which could subsequently rise to $10 million. The law also proposes to introduce a 30.5% income tax. The entire amount will be transferred to the fund for the needs of responsible gambling. If the law is passed, New York will become the seventh US state to legalize online gambling.
The secret of success in iGaming lies in attracting players of the “right generations”
In 2022, the industry has grown to $63 million. Many iGaming companies try to attract the younger generation of players, but according to Dmitry Belyanin @belianinknows, it is the mature players who spend the most money. According to the UK Gambling Commission report, users over 45 brought the industry 45% of the profits in 2020. Customers under 35 accounted for 27% of total revenue. It is important for older players to communicate with other customers, which is why social casinos are gaining popularity. More than 50% of their audience are older people. By 2025, the social casino market is expected to grow to $8 billion, up from $5.2 billion in 2019. Mobile apps, design and easy payment process are more important for the younger generation, which explains the success of the Betr app in the USA. Attracting the older generation will allow to receive income in the short term, and the younger generation – in the long term.
North Carolina’s online betting law to be passed in the coming days
Currently, land-based bookmakers are limited in the state, however, there has been a high demand for online betting among the population.
Market leaders including FanDuel, DraftKings, BetMGM and Caesars are expected to request a license from the state. The bill could also open the way for up-and-coming brands such as bet365, Fanatics, Betr and more.
Betsafe enters Ontario thanks to Betsson licenses
The Swedish company Betsson holds both an operator license and a supplier license in the Canadian province of Ontario. Through the Betsafe brand, the company will offer sports betting and online casinos to local players. The Ontario entry has already generated €4 million for Betsson in Q4, accounting for 2% of the company’s revenue.
Massachusetts regulator will lift the ban on bookmaker affiliates
The Massachusetts Gaming Commission (MGC) has agreed to contribute amendments to the rules and will hold a final vote on March 23.
Current state gambling laws prohibit revenue-sharing and pay-per-acquisition agreements, effectively restricting all affiliate programs. However, the Commission appears to recognize the value of such arrangements and has agreed to negotiate with the operators before putting the matter to a vote. Bookmakers like Caesars are known for having extensive affiliate programs, so an amendment to the existing rules would be welcomed.
Currently, Massachusetts sports betting regulations prohibit all operators from entering into agreements with third parties where compensation is dependent on the number of customers, stakes or wagering results. These restrictions severely hamper all traditional affiliate schemes by curtailing opportunities for advertising, marketing and branding.
The MGC recently announced an upcoming revision to this rule. The regulator did not say what prompted its sudden change of heart. Many well-known operators preparing to launch online sports betting on March 10th announce the introduction of extensive affiliate programs that might have influenced the Commission’s decision.
PointsBet withdraws Massachusetts gaming license application
During a meeting on February 23, the Massachusetts Gaming Commission announced that Pointsbet was withdrawing its application for a temporary license to operate in the state.
To date, 11 companies have applied to the Massachusetts Gaming Commission for the documents required to apply for a provisional license. This includes providing proof of legality against the gambling operator and a $1 million license processing fee.
Karen Wells, chief executive of the Massachusetts Gaming Commission, confirmed that PointsBet contacted the Commission on February 22 to notify them of the withdrawal from the Massachusetts provisional gaming license application.
PointsBet submitted neither the required documents nor the $1 million license fee before withdrawing.
Of the 11 applicants, only 9 completed the license form and paid the fee to the Massachusetts Gaming Commission. These are Ballys, Betr, DraftKings, Fanduel, Caesars Sportsbook, Wynnbet, BetMGM, Penn Sports and Fanatics.
