Every Friday, Covers takes a look back at the week that was in the sports betting industry. With a collection of sports betting news and notes, we intend to cover all the bases.
Legendz Social Casino & Sportsbook launches in 43 states
The new and multilingual Legendz Social Casino and Sportsbook has officially launched in 43 states, available to players aged 18 and older.
The platform is “set to redefine the online social and sweepstakes gaming landscape.”
Legendz offers hundreds of slot games, live table games, and a comprehensive sportsbook covering over a thousand markets.
The platform touts that it sets itself apart with the highest return to player (RTP) among U.S. sweepstakes casinos. Players will also receive a free reward every day for simply visiting the site.
"With a full suite of slots, live casino, and sportsbook as well as some unique features that we'll be rolling out over the next few months, we think our guests will find a social gaming experience they can't get anywhere else,” co-founder, Henrik Persson Ekdahl, said in a release.
The three Swedish founders, also including Mikael Harstad and George Westin, contributed to the development of several successful betting brands, including Betsafe, Gaming Innovation Group, and Hero Gaming.
Oddin.gg secures 6th North American license in Arizona
Esports betting solution provider Oddin.gg has secured a license to operate in Arizona, marking its sixth license in North America. Oddin.gg currently holds licenses in Colorado, New Jersey, Ohio, Ontario, and West Virginia, and is in the process of acquiring more.
“Arizona’s esports community has great potential, and we’re thrilled to partner with operators in the state to provide engaging and entertaining betting experiences,” Vlastimil Venclík, CEO of Oddin.gg, said in a release.
“We believe in the potential of esports in the U.S. In our view, the United States will become the biggest regulated esports betting market globally by 2026, establishing its place as the third or fourth most popular category in sportsbooks’ portfolios.”
The release from Oddin.gg highlights the growth potential of the U.S. esports betting market, which is projected to generate revenues of $800 million in 2024. North America also accounts for roughly 40% of global esports betting revenue.
Legal Arizona sports betting launched in September 2021. Since then, Arizonans have wagered more than $18 billion, 99% of which was spent via online sportsbooks.
Light & Wonder iGaming CEO announces resignation
Dylan Slaney, CEO of iGaming at Light & Wonder, announced his personal decision to step down in a LinkedIn post.
“It’s been an incredible journey leading this business over the past seven years, and I’m immensely proud of what we’ve accomplished together,” he wrote. “Thank you to Light & Wonder for putting your trust in me as CEO and for the support to invest and grow the iGaming business.”
Slaney reported directly to CEO Matt Wilson, who joined the company in 2020 following a 15-year career with competitor Aristocrat Gaming.
Slaney joined Light & Wonder in October 2017, starting as EVP of Gaming for NYX Gaming Group, which Light & Wonder successfully acquired in January 2018. From that point, Slaney served as the SVP of Gaming for Scientific Games Digital until October 2021, when he transitioned to the role of CEO of iGaming.
Scientific Games rebranded as Light & Wonder in Spring 2022 after selling its lottery and sports betting businesses to focus on casino and online gambling content.
Since then, the company has reported strong performance. In its latest results for Q3 2024, L&W posted a 12% revenue increase to $817 million, driven by “strong performance in North American Gaming operations.” Continued momentum in North America also led to a 5.7% increase in iGaming revenue to more than $74 million.
IAGR welcomes 4 new board trustees
The International Association of Gaming Regulators (IAGR), a nonprofit dedicated to gambling regulation best practices, has appointed four new members to its Board of Trustees. This includes Louis Rogacki, deputy director of the New Jersey Division of Gaming Enforcement, representing North America.
Anders Dorph from the Danish Gambling Authority joins to represent Europe, Peter Emolemo Kesitilwe from the Gambling Authority of Botswana for Africa, and the General Commercial Gaming Regulatory Authority’s Kevin Mullally joins the board on behalf of Asia/Oceania.
The company made the announcement via LinkedIn.
At the same time, Trude Høgseth Felde, senior advisor for the Norwegian Gaming Authority, and Mabutho Zwane, CEO of the Eastern Cape Gambling and Betting Board, have completed their terms on the board. Jason Lane, previously the company’s president, will continue for another term as a trustee.
NBA Rookie of the Year a volatile market
Taking things back to sports betting action, just weeks into the NBA season, the Rookie of the Year futures market has been one to watch.
An award typically reserved for the No. 1 overall pick, two mid-round selections are establishing their place in the league.
No. 16 overall pick Jared McCain has taken advantage of his early opportunities with the Philadelphia 76ers and has vaulted to the top of the odds board. Right behind him is No. 17 selection, sharpshooter Dalton Knecht of the Los Angeles Lakers. Their performances are forcing sportsbooks in the NBA Rookie of the Year odds business to take notice.
“We have to be very reactive to performances on a night-to-night basis. For example, Jared McCain was +10000 in late October and is now the favorite to win NBA Rookie of the Year. I'd expect it to be like this all season.”
— John Ewing (@johnewing) November 20, 2024
– Hal Egeland, Trading Manager, #BetMGM pic.twitter.com/ok3XSlCwzX
