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Bet365 Fined in Sweden for Offering Bets on Minors

(March 29, 2021 - 12:05 pm) - Sweden’s Spelinspektionen has fined Bet365's Hillside Sports arm SEK 1 million (€95,00) penalty for taking bets on an under-18s football match.

The sanction was issued in relation to a Sodra Västergötlands Fotbollförbund (Swedish southern district League) training match between Kronängs IF vs Mariedals IK which was played on 28 March 2020.

It was revealed that 17 of the Kronängs squad and seven of the Mariedals team were under the age of 18.

Under Chapter 8 of Sweden’s new Gaming Act, the operator was prohibited from offering markets on the game.

“Hillside has not offered betting in bad faith for its own sake winnings in violation of the gaming law,” the company reported. 

“Hillside lacked further information about and could or have they obtained information on the number of minor participants then such data are not generally available.” 

Bet365, along with other bookmakers, had previously been fined by Spelinspektionen in June 2019 for a similar infraction.

Caesars to Get Super Dome Naming Rights

(March 24, 2021 - 9:33 pm) - Caesars Entertainment, Inc., is reportedly close to signing a deal with the Saints that will make it the naming rights sponsor of the Superdome, something that could take place as soon as July and almost certainly before the upcoming NFL season.

While it is true that the Miami Dolphins stadium carries the Hard Rock name, it is not tied to any of the companies casino operations.  The Caesars deal will presumably have tie-ins with their casino operations.

The deal that will reportedly earn the Saints $10 million annually for the next 20 years for the team. 

“Mercedes-Benz is currently under contract until July of this year as the naming rights partner,” Greg Bensel, the senior vice president of communications for the Saints, told The Athletic. ” We do not have anything official to report as there is not a signed deal with any company at this time. We continue to have conversations with numerous interested companies.” 

The stadium is expected to maintain the Super Dome name.

Penn National Gaming CEO Says Casino Recovery Has Been ‘Incredible’ as Covid Vaccines Roll Out

(March 23, 2021 - 11:34 am) - People are feeling more comfortable returning to casinos as Covid vaccines roll out.  This follows a year of casino shutdowns due to the global Covid-19 pandemic.

"The month of March has been incredible," Penn National Gaming CEO Jay Snowden told CNBC on Tuesday.

"We had one of the biggest weekends this last weekend that we have seen in years," he said.

"What we're seeing right now in the business ... is revenues and volumes that I haven't seen in years. The month of March has been incredible, " Snowden said in an interview on "Squawk Box."

"We saw really high spend per visit when people came, but the visitation was still way down year over year because those that were 65-plus years old weren't coming back," Snowden said.


Why Michigan Is The 'Most Exciting State' For Online Sports Gambling

(March 22, 2021 3:45 pm) - Michigan is a "No. 1 seed for online growth" in sports betting and iGaming, BofA Securities analyst Shaun Kelley said Monday. 

After a strong 10-day launch in January, online sports betting and iGaming in Michigan showed no signs of slowing down, with iGaming was particularly strong, on pace to make over $1 billion annually.

Barstool Sportsbook from Penn National Gaming saw a dip since its launch but occupies 7% of market share.

BetMGM has 25% market share in online sports betting and 34% in iGaming.

DraftKings Inc (NASDAQ:DKNG) saw its duopoly with FanDuel fall to third for market share for online sports betting in Michigan in February.

Kelley is unconcerned and said the company has significant share in all the states BofA monitors.

See More at Business Insider

DraftKings and how AOL Co-Founder Steve Case Made a Killing

(March 21, 2021 11:37 pm) - Case, an early backer of sports fantasy and online betting leader DraftKings, recalled what he and his team at venture capital firm Revolution, of which he is CEO, saw in the company when the chips were stacked against it.

“Draft Kings a number of years ago is about a $500 million dollar valuation. There's some risk associated with some of the policies. Indeed at the time, the New York attorney general had shut down some of their operations, but we believed in and the idea thought that was a fair valuation” he explained during an interview with Barron’s Roundtable on FOX Business.

Josh Shaw Reinstated After Gambling Suspension

(March 21, 2021 11:37 pm) - Defensive back Josh Shaw is eligible to play in the NFL again.

Shaw was suspended through at least the 2020 season for gambling on NFL games while he was a member of the Cardinals. The NFL’s daily transaction report on Saturday brought word that he has been reinstated.

The former USC standout bet on the second half of three NFL games November 10, 2019 at Caesars Sportsbook in Las Vegas. Shaw had been out with a shoulder injury at the time.

- Gilbert Horowitz,