CNBC has reported that the sports merchandising company, Fanatics is involved in serious discussions to purchase sports betting company Tipico.
While an official deal hasn’t yet been signed, talks are ongoing, with decisions still need to be made about a price.
Tipico is considered the leading sports betting provider in the German betting market. It also operates a smaller sports betting business in the United States. It is licensed to operate in New Jersey and Colorado.
Fanatics is in the process of clearing any obstacles in its way to enter the gambling industry. Last week, its executive chairman, Michael Rubin, announced that he was disposing of his 10% stake in Harris Blitzer Sports Entertainment, owner of the New Jersey Devils and Philadelphia 76ers.
The reason for this move is because National Basketball Association rules bar team owners from owning a betting platform.
Rubi issued a statement last week saying: “As our Fanatics business has grown, so too have the obstacles I have to navigate to ensure our new businesses don’t conflict with my responsibilities as part-owner of the Sixers.”
“With the launch of our trading cards and collectibles business earlier this year — which will have individual contracts with thousands of athletes globally — and a soon-to-launch sports betting operation, these new businesses will directly conflict with the ownership rules of sports leagues. Given these realities, I will sadly be selling my stake in the Sixers and shifting from part-owner back to life-long fan.”
Bills that could see the legalization of online sports wagering in North Carolina made progress in the legal pipelines recently. Two bills were approved by lawmakers, as the current legislative session is at the stage of winding down.
Minor adjustments were made to two sports betting bills by the House Judiciary 1 Committee. The first change made is that betting on amateur sports is prohibited, and the amount of money that needs to be directed to problem gambling treatment each year was doubled to $2 million.
After the amendments, six lawmakers voted in favor, while three voted against them. One lawmaker abstained.
The current status of legal sports betting in North Carolina is that it is allowed in physical casinos. Two Cherokee-run casinos in the state’s western region accept sports bets.
Senate Bill 38 calls for sports betting operators to pay a 14% tax on gross wagering revenue (minus winnings paid out).
The bill allows betting on professional, college and electronic sports. Betting on youth sports (with participants being younger than 18 years of age or competing on behalf of schools) will not be allowed.
Industry analysts believe that the earliest date that online sports betting will go live in North Carolina is January 2023.
May was a particularly good month for Louisiana’s sports betting industry, with the state reporting its second-highest monthly total since online betting became legal at the start of the year.
Revenue in May 2022 was reported as $22.6 million – a giant leap from $3.3 million in April 2022.
The Bayou State opened its legal online sports betting market at the end of January this year, although legal retail betting began last October already.
Several operators are licensed in the state, with Penn National Gaming’s Barstool Sportsbook becoming the first brand to launch on opening day.
Highlights of Louisiana Sports Betting Report
– Consumer spending dropped from $186 million in April 2022 to $142 million in May 2022.
– The single main source of revenue for licensees came from baseball betting, with the sport generating $5.7 million in revenue.
– Licensees saw $4.7 million generated from basketball.
– Revenue from retail betting in May 2022 was up 17.4% (from $2.3 million in April to $2.7 million in May).
– Retail handle grew 28.4% to $28.5 million.
– Unlike online betting revenue, basketball contributed the most to retail revenue (just over $400K). This was followed by baseball ($248K), and soccer ($25K).
Some of the biggest names in the sports betting industry joined forces recently to pass it forward.
Several members of the Betting and Gaming Council in Britain decided to donate the profits from the Britannia Stakes horse race that was run during the Royal Ascot week recently.
A total of $1.5 million was distributed to several worthy charities.
Those who were part of the scheme included:
– William Hill
– 888 Holdings
– Kindred
– Rank Group
– Bet with Ascot
– Bet365
– BetVictor
– Betway
– Rank Group
– The Tote
– Virgin Bet
– Flutter Entertainment (with its brands Betfair, Sky Bet brands and Paddy Power)
– Entain (with its brands Ladbrokes and Coral)
Betting and Gambling Council Members Continue to Donate
According to BGC chief executive Michael Dugher: “It’s great news that BGC members have once again made such a big donation to a number of brilliant charities. BGC members support the jobs of nearly 120,000 people and we are proud to back so many good causes in so many local communities all year round.”
“We are also equally proud of the close relationship we have with the great British sport of horse racing. But with crowds back, with millions more watching it live on ITV, and with this year being Her Majesty’s Platinum Jubilee, Royal Ascot 2022 was extra special.”
Nwankwo Kanu, the 45-year-old Nigerian football legend, has become the new face of the cryptocurrency-based sports betting operator, Sportsbet.io.
The four-year deal makes Kanu a global ambassador for the group.
Albert Climent, head of Africa for Sportsbet.io, gave the iconic player a warm welcome: “Nwankwo Kanu needs no introduction, he’s a true football legend and it’s an absolute honor to see him join Team Sportsbet.io.”
The group made a substantial contribution to Kanu’s Heart Foundation, an organization which he founded to aid local children with heart diseases get the help they need in Nigeria and abroad.
“Signing for Sportsbet.io was the perfect opportunity to join the crypto revolution,” commented the player. “I’ve already seen how crypto can be a force for good in our world, with the Kanu Heart Foundation receiving significant Bitcoin donations.”
During his illustrious career, Kanu was part of the Ajax FC team which won three Eredivisie league titles, a Uefa Champions League, the Uefa Super Cup and others.
He also played with InterMilan before moving to Arsenal and winning two English Premier Leagues and two FA Cups.
He scored 124 goals in his career, including 26 for his Nigerian national team, with which he won gold in the 1996 Olympics.
Nwankwo Kanu is considered by many to be one of the greatest African football players of all times.