Author: Ross Kerber

The Sports Betting Alliance (SBA) has labeled the budget as an “extremely disappointing decision that will cause real harm.” The proposed budget nearly triples the tax rate for the most profitable operators. The version of the budget passed by the senate on Sunday diverges from the house proposal. If enacted, Illinois would become the second-most expensive state for wagering operators, with the highest adjusted gross revenue operators facing a 40% tax. Only New York’s 51% rate is higher for a competitive market. The tax vehicle is HB 4951, which originally did not include the progressive sports betting tax when approved…

Inspired Gaming Group reported a decline in total revenue for the first quarter of 2024, recording $63.1 million, a 2.8% decrease from the previous year’s $64.9 million. This downturn primarily stemmed from decreases in its Gaming and Virtual Sports segments, overshadowing growth in other areas. The Interactive segment, however, showed a robust growth of 37.3%, indicating a continued upward trend from the previous year. Leisure segment revenues also saw a boost, increasing by 8.8% to $18.6 million. Conversely, Gaming, the company’s primary revenue generator, experienced an 11.4% decline to $24.0 million. Virtual Sports revenues fell by 16.2% to $12.4 million,…

The prosecutor general’s office has divulged statistics outlining its efforts to combat illegal gambling throughout 2023 and the current period of 2024. According to the report released in April 2024, investigations are underway regarding over 450 suspected instances of illegal gambling. Among these, indictments have been issued against 72 individuals, including seven cases involving 68 members of criminal organizations. Additionally, 76 criminal offenses have been recorded thus far in 2024. In 2023 alone, the prosecutor general’s office documented 169 instances of illegal gambling, resulting in 52 indictments against 97 individuals. Moreover, authorities seized over 7,000 pieces of equipment, including computers,…

Today, on April 24, Ukraine’s parliament, the Verkhovna Rada, conducted a vote that is poised to bring about a significant transformation in the governance and regulation of gambling within the country. This decision followed the submission of draft law no 9256d, which proposed the dissolution of KRAIL, the Ukraine gambling regulator. The impact of gambling on Ukrainian society, especially during wartime, has been a subject of intense debate. This discussion gained momentum after a petition initiated by Pavlo Petrychenko, a soldier from the 59th brigade, in late March. The petition, hosted on the president’s office website, swiftly garnered over 26,000…

March witnessed remarkable growth in Delaware’s gambling industry, with sports betting and online casino operations experiencing significant increases in both handle and revenue. The state’s handle soared past last year’s $3.5 million recorded in March, marking a notable 37.0% rise from $13.8 million in February this year. Sports betting revenue in March reached $1.0 million, a sharp rise of 89.2% compared to $544,385 in the previous year, and an 83.8% increase from $560,449 in February. This surge was primarily attributed to the Delaware Lottery’s introduction of its first online sportsbook earlier in January, which is operated by Rush Street Interactive…

Spillemyndigheden, the Danish gambling authority, has raised serious concerns about Mr Green’s compliance with the country’s Money Laundering Act, pinpointing three primary areas of deficiency. These concerns include inadequate risk assessments, flawed business processes, and a significant lack of documentation for necessary checks. The first issue identified by Spillemyndigheden is Mr Green’s “flawed” risk assessment practices, particularly in failing to assess risks associated with individual payment solutions and delivery channels, as mandated by Section 7 of the Money Laundering Act. The regulator stressed, “Companies covered by the law must identify and assess the risk that the company may be misused…

BlueBet has been found guilty of 43 charges for displaying gambling advertisements on or above public roads, a violation of the Gambling Regulation Act 2003 in Victoria. This conclusion follows an investigation by the Victorian Gambling and Casino Control Commission (VGCCC) prompted by a public complaint. Over two weeks in August and September 2022, BlueBet’s digital billboards prominently advertised along freeways at several locations. The VGCCC’s decision to press charges led to a court case where Magistrate Greg Thomas expressed skepticism towards BlueBet’s claim of ignorance about the legality of their actions, highlighting the strategic placement of the billboards targeting…

Star, an Australian gaming company, faced a 4.6% decline in revenue across its properties in the third quarter, as compared to the same period last year. This downturn was attributed to decreased earnings from premium gaming rooms, despite a rise in revenue from the main gaming floors. The Star Sydney experienced the most significant drop in premium gaming room revenue, falling by 19.3%. The Star Gold Coast and Treasury Brisbane also saw decreases of 20.0% and 28% respectively. However, these declines were partially offset by a 5.4% increase in revenue from the main gaming floor at The Star Sydney, 4.6%…

On 2 May, the 1st Civil Senate of the Federal Court of Justice of Germany (BGH) is slated to hear a significant case regarding the reimbursement of losses incurred by players who gambled with unlicensed operators. This case was initially dismissed by the Lower Court of Dresden in 2023 but has found its way to Germany’s highest court due to its implications on the gambling and legal landscape. The lawsuit centers around an Austria-based sports betting operator that offered services to German players in 2018 without the requisite permissions. The plaintiff argues that the absence of a valid license rendered…

Over the year ending March 31, 2023, total bets in New York’s online sports betting sector soared to 19.8% above the previous year’s $16.40 billion, marking a US record with $19.66 billion wagered. This achievement underscores New York’s dominance in the regulated online sports betting market within the United States. The state witnessed a remarkable 20.6% increase in gross gaming revenue, setting another record for the US. This growth comes just two years after New York inaugurated its legal online sports betting market in January 2022, with the FY23 capturing the second complete year of regulatory operations. Flutter Entertainment’s FanDuel…