New York’s Milestone Achievement in Sports Betting
New York’s sports betting industry reached new heights in November 2024, setting an all-time record for gross gaming revenue (GGR). The New York State Gaming Commission reported a staggering $231.7 million in GGR, a 53.5% increase from November 2023 and a 9.5% jump from January 2024’s previous record of $211.5 million.
Despite a slight dip in the total betting handle, which came in at $2.27 billion compared to October’s $2.32 billion, the November handle still represents the second-highest in New York’s history since the launch of mobile betting in January 2022.
Unprecedented Tax Contributions
The November revenue surge significantly bolstered the state’s tax income, generating a record-breaking $118.1 million in tax revenue for the month. This brings New York’s year-to-date tax contributions from sports betting to $965 million, positioning the state to surpass $1 billion in annual tax revenue for the first time.
Performance Breakdown: Dominant Players and Emerging Contenders
FanDuel maintained its market dominance, securing 43% of the total GGR with $102.6 million in revenue from $921.2 million in bets, achieving an 11.4% hold rate. DraftKings followed with $77.1 million in revenue from $745.4 million in handle, boasting a 10.3% hold.
BetMGM jumped to third place, generating $14.4 million in revenue from $167.7 million in bets, surpassing competitors Caesars ($14.2 million) and Fanatics ($13.8 million), despite a slightly lower handle. Notably, Fanatics’ $170.2 million handle was the third-highest, yet its revenue lagged behind due to an 8.1% hold rate.
New entrants ESPN Bet and Bally Bet also made notable strides. ESPN Bet posted $3.5 million in revenue from $39 million in bets, marking its best month since launching in September. Bally Bet reported $1.2 million in revenue, achieving the highest hold rate in the state at 11.3%.
New York’s Role in the National Sports Betting Landscape
Beyond breaking records, New York’s sports betting market continues to shape the national landscape. In 2024, the state became the first to surpass $20 billion in annual sports betting handle and $5 billion in all-time operator GGR. These milestones underscore New York’s pivotal role as a hub for sports betting innovation and growth.
Fanatics Sportsbook, a rising player in the market, announced the return of its flagship Fanatics Fest event to New York in 2025. The inaugural 2024 event brought together fans, celebrities, and athletes, highlighting New York’s status as a cultural and sporting epicenter.
Conclusion
New York’s November performance solidifies its position as a trailblazer in the U.S. sports betting industry. With record-breaking revenues, robust tax contributions, and a vibrant market landscape, the Empire State continues to set the benchmark for success in the sports betting arena. As operators refine their strategies and new entrants gain traction, New York’s betting market promises further growth and excitement in the years to come.
Rebranding for Growth and Innovation
Malta-based casino operator Videoslots has taken a bold step into the future, rebranding as Immense Group. The change marks a significant evolution from its origins as a single-brand online casino to a multi-brand operation managing five distinct platforms: Videoslots, Mr Vegas, Kungaslottet, Mega Riches, and DBET.
Co-founder Alexander Stevendahl, who continues as group CEO, emphasized the importance of the transformation:
“Adopting the Immense Group name shows our ambition to keep evolving and paving the way for future growth for each individual brand.”
The name “Immense” reflects the company’s core values of innovation, talent, and a commitment to excellence, aligning with its goal of delivering premium gaming experiences across global markets.
Jesper Kärrbrink Takes the Helm
In tandem with its rebrand, Immense Group has introduced a new corporate structure, appointing Jesper Kärrbrink as CEO of Immense Group AB, its newly established holding company based in Stockholm. Kärrbrink, a seasoned iGaming veteran, brings over 20 years of industry expertise, having held leadership roles at Mr Green, Svenska Spel, and several tech firms.
Kärrbrink described the rebrand as a pivotal moment for the company:
“With four additional brands and a new corporate structure, now is the perfect time to introduce a new umbrella brand that carries the strong Videoslots culture into its next chapter.”
Kärrbrink’s track record of scaling businesses and navigating complex regulatory landscapes makes him an ideal leader for Immense Group’s ambitious plans.
A Unified Identity, Individual Strengths
The rebrand does not affect the identities of Immense Group’s consumer-facing platforms, which will continue to operate independently. However, the company’s social media channels will adopt the new branding, reflecting either @Immense or @LifeAtImmense, depending on the platform.
While the corporate changes signal growth and modernization, the group remains committed to preserving the culture and values that made Videoslots a success story in the competitive iGaming industry.
Facing Challenges, Looking Ahead
The announcement comes shortly after a regulatory development in Sweden, where the Administrative Court upheld a penalty against Videoslots for anti-money laundering shortcomings, though the fine was reduced from SEK 9 million to SEK 4 million. Despite such challenges, Immense Group’s focus remains on driving innovation and growth across its portfolio.
As Immense Group, the company sets the stage for a new chapter in its journey, leveraging its impressive track record while aiming for even greater success in the rapidly evolving world of online gaming.
Betting Breaches in Football
The intersection of football and gambling has long raised concerns, particularly when players themselves become involved in betting activities. The recent suspension of Ryan Rainey, a former Finn Harps midfielder from the League of Ireland, highlights how these breaches can affect not only individual careers but also the wider conversation about gambling’s role in sports.
Ryan Rainey’s Suspension: A Case Study
The Breach and the Consequences
Ryan Rainey was handed a six-month suspension by the Football Association of Ireland (FAI) for violating its betting regulations. These breaches involved wagering on various football matches globally between 2021 and 2024, including fixtures in the League of Ireland and the FAI Cup.
In response, Rainey accepted his punishment, stating unequivocally that he did not bet on games in which he participated. Despite this, he acknowledged his error and took full responsibility for breaking the rules.
Gambling Addiction and its Roots
In a statement issued through the Professional Footballers’ Association of Ireland (PFAI), Rainey opened up about his struggle with gambling addiction. He attributed his addiction to the overwhelming presence of gambling advertisements, particularly during televised matches, and the idle time that led him to seek stimulation.
“I realised my dream of playing football, but the constant stream of gambling adverts made it easy to develop an addiction,” Rainey confessed. He also stressed the importance of maintaining the integrity of the game, emphasizing that while he did not gamble on matches he played in, the rules exist for a reason.
Gambling and Football: A Call for Reform
The Role of Advertising
Rainey’s case has reignited calls for tighter restrictions on gambling advertising in sports. His statement underscores how pervasive and targeted gambling ads can encourage unhealthy behaviors, particularly among young athletes.
Notably, his suspension comes shortly after Ireland passed its Gambling Regulation Bill, which introduced stricter limits on gambling advertisements, including a ban between 5:30 AM and 9 PM. Meanwhile, Northern Ireland has seen a growing push for similar reforms.
Broader Implications for the Industry
Rainey’s suspension also highlights the systemic relationship between sports and gambling. Football’s financial ties to gambling companies—ranging from sponsorship deals to televised ads—raise ethical concerns, particularly as more players, like West Ham’s Lucas Paquetá, come under investigation for betting-related breaches.
Lessons for the Future: Protecting the Integrity of the Game
Supporting Players
Rainey’s story underscores the importance of providing better support systems for players, particularly regarding education about gambling risks and access to addiction treatment.
Reforming Gambling Policies
Stronger regulations around gambling advertising could mitigate the impact on vulnerable groups, including young athletes. Limiting the visibility of such promotions during sports events could play a pivotal role in curbing gambling addiction.
Voters Narrowly Approve Sports Betting Legalisation
Missouri is set to join the growing list of states offering legalised sports betting following the razor-thin passage of a ballot measure with 50.05% voter approval. Certified by state election officials last Thursday, this marks a significant milestone for sports enthusiasts and industry stakeholders. While the constitutional amendment takes immediate effect, betting services are not expected to launch until late spring or early summer of 2025.
Record-Breaking Campaigns Drive Approval
The campaign supporting legal sports betting shattered Missouri’s previous fundraising records, amassing $43 million. Leading contributors included DraftKings and FanDuel, who dominated with substantial funding, alongside $2 million in support from Missouri’s professional sports teams, including the St. Louis Cardinals, Kansas City Chiefs, and St. Louis City soccer team.
St. Louis Cardinals President Bill DeWitt III highlighted the initiative’s benefits, stating, “Joining the 38 other states that already allow sports betting will enable us to engage more deeply with fans while keeping tens of millions in Missouri for educational and community benefits.”
Opposition, funded mainly by Caesars Entertainment, raised $14 million but failed to prevent the measure’s passage. Caesars, which operates three of Missouri’s 13 casinos, expressed disappointment but has not indicated plans to challenge the results.
Framework for Implementation
Missouri’s constitutional amendment permits sports betting at the state’s casinos and through its professional sports teams. Teams will have exclusive control over betting and advertising within 400 yards of their facilities. Additionally, two mobile operators will receive direct licensing from the Missouri Gaming Commission.
Regulators are tasked with drafting rules, processing licenses, and setting oversight mechanisms to ensure a smooth rollout. The Missouri Gaming Commission expects the industry to be operational well before the constitutional deadline of December 1, 2025.
Tax Revenues and Problem Gambling Initiatives
The approved measure imposes a 10% tax on sports betting revenue, significantly below the national average of 19%. A minimum of $5 million annually will fund programs addressing problem gambling, while the remainder will be allocated to education.
National Context and Future Prospects
Missouri’s entry into sports betting follows a nationwide trend, as 38 states and Washington, D.C., have already legalised the practice since the U.S. Supreme Court overturned a federal ban in 2018. However, major markets like California and Texas remain untapped, with California voters rejecting sports betting proposals in 2022 after an unprecedented $450 million campaign battle between interest groups.
Missouri’s move is expected to generate significant revenue and enhance fan engagement across its professional sports landscape. As the countdown begins for its 2025 rollout, residents can look forward to joining the national sports betting boom.
Lotteries Continue to Lead the Market
The latest survey by the Gambling Commission highlights that gambling participation in Great Britain has remained steady, with lotteries continuing to dominate the landscape. The findings, based on interviews with 4,657 adults conducted by NatCen between April and July 2024, reveal that 48% of adults participated in gambling activities in the past four weeks. This figure mirrors data from 2023 and earlier in 2024.
Interestingly, 20% of these participants engaged exclusively in lottery games, such as the National Lottery or charity lotteries. Excluding these lottery-only players, the overall gambling participation rate falls to 28%.
Growth in Online and Betting Activities
Online gambling continues to play a major role, with 37% of respondents engaging in digital gambling platforms. However, when lottery participants are excluded, this figure drops to 17%. Similarly, in-person gambling was reported by 29% of respondents, though only 18% participated in non-lottery gambling activities.
Betting emerged as a growing vertical, with participation increasing by more than three percentage points compared to earlier in 2024. Popular forms of betting include sports wagering and online instant-win games, which are gaining traction among younger demographics.
Demographics and Motivations
The survey provided key insights into the demographics of gamblers. Men aged 45 to 64 showed the highest overall gambling participation. However, when excluding lottery-only players, men aged 25 to 34 were the most active group. Respondents highlighted their main reasons for gambling as the opportunity to win significant amounts of money and the entertainment value it provides.
Methodological Changes and Future Insights
The Gambling Commission noted that changes in survey methodology make direct comparisons with previous years more challenging. Despite this, the data underscores the enduring appeal of lotteries and signals a growing interest in betting among British gamblers.
A further notable trend is the diversity of gambling preferences across age groups. While lotteries appeal to a broad range of players, younger audiences appear more inclined toward sports betting and online games, suggesting that the industry is evolving to cater to varying consumer interests.
The next wave of the Gambling Survey for Great Britain is scheduled for release in February 2025, offering a closer look at the nation’s gambling behaviours and potential shifts in trends.
