You are here: Home / Archives for despite

Belgium’s Gambling Revenue Grows by 16.7% in 2023 Despite Stricter Regulations

Belgium-reports-16.7_-rise-in-2023-GGR-despite-tighter-regulatory-controlsBelgium’s gambling market has shown remarkable resilience, with the Commission des Jeux de Hasard (CJH), the country’s gambling regulator, reporting a 16.7% increase in gross gaming revenue (GGR) for 2023. The total GGR for the year reached €1.7bn (£1.5bn/$1.9bn), a significant rise from €1.5bn in 2022, despite the Belgian government imposing tougher restrictions on the sector.

Growth in Online and Offline Markets

The surge in GGR was driven by robust performance across both online and offline gambling sectors. Online gambling GGR grew by 18% to €944.6m, demonstrating the increasing shift towards digital platforms. Meanwhile, offline gambling also saw substantial growth, with GGR reaching €758m, a 15.2% year-on-year increase.

This growth comes in the face of heightened regulations introduced by the Belgian government. Since 2022, operators have been required to enforce a weekly loss limit for players, which was reduced from €500 to €200. Further tightening occurred in mid-2023, when a ban on all gambling advertising came into effect on July 1, following an unsuccessful attempt by a consortium of Belgian sports teams and operators to overturn the decision.

Casino Sector Leads the Charge

Belgium’s casino sector was a standout performer in 2023, with GGR increasing by 18.7% to €594.9m. This growth was largely fueled by a 20.2% rise in online casino revenue, which reached €455m. Although brick-and-mortar casinos did not match the growth rate of their online counterparts, they still reported a 14.3% increase in GGR, totaling €139.9m.

Among the nine land-based casinos in Belgium, Grand Casino Brussels, operated by Casinos Austria International, led the market with an offline GGR of €52.5m. Circus Casino Resort Namur followed with €22.5m. However, Casino Blankenberge, acquired by Kindred Group in 2020, was the only venue to report a year-on-year decline in GGR.

Mixed Results for Slot Arcades and Sports Betting

Slot arcades also saw strong growth, with GGR rising by 17.3% to €437m. Online activity was a key driver, accounting for 57.7% of slot hall revenue and growing by 19.4% to €252m. In-person slot arcade GGR increased by 14.5% to €184.9m.

In contrast, the sports betting sector experienced more modest growth, with GGR increasing by 8.4% to €390m. Online sports betting remained dominant, contributing 60.9% of the sector’s total GGR and growing by 12.8% to €237.6m. Revenue from betting shops grew at a slower pace, rising by just 2.3% to €152.4m.

The CJH noted that ten of the 24 licensed operators were responsible for 96% of offline bets and 94% of online wagers, highlighting the concentration of the market. Despite there being 30 available licenses, only 24 were in use throughout the year.

Newsagents Hit Hard by New Regulations

The only sector to experience a significant decline was betting at newsagents. New restrictions imposed in 2022 limited betting hours to between 6 AM and 8 PM and capped annual stakes per newsagent at €250,000. These measures led to a 26.3% drop in GGR for newsagents, resulting in 21 refusals of license renewals, 82 licensees not seeking renewal, and 151 ceasing operations altogether. By the end of 2023, only 1,484 newsagents were still active, down from 1,580 at the end of 2022.

Ongoing Regulatory Changes

The Belgian government continues to implement new regulations aimed at tightening control over the gambling industry. From September 1, 2024, the legal gambling age in Belgium will increase from 18 to 21 years old. These changes have raised concerns about the potential impact on channelization towards legal markets, with Belgium-based operator Gaming1 warning in an April report that the ongoing regulatory shifts could drive more players to unregulated platforms.

Source:

Belgium reports 16.7% rise in 2023 GGR despite tighter regulatory controls, igamingbusiness.com, August 12, 2024. 

The post Belgium’s Gambling Revenue Grows by 16.7% in 2023 Despite Stricter Regulations appeared first on Casino News Daily.

Filed Under: Gambling News Tagged With: , , , , , , ,

Donald Trump 2024 Odds Hold Steady Despite Another Federal Probe

Former President Donald Trump said Tuesday he’s been notified by the US Department of Justice (DOJ) of a federal probe into his alleged efforts to overturn the results of the 2020 presidential election won by President Joe Biden.

Donald Trump 2024 odds Joe Biden presidential election
Former President Donald Trump stops at a restaurant in Miami’s Little Havana on June 13, 2023. Trump is expected to soon be indicted by a federal grand jury for a second time. (Image: Getty)

The DOJ inquiry is the latest federal investigation into the 45th president of the United States.

Trump was hit with a 37-count federal indictment last month for his alleged mishandling of classified documents that he took with him after being evicted from the White House to his Mar-a-Lago estate in Palm Beach. In March, Trump was indicted in New York on 34 felony charges of allegedly falsifying business records.

Despite the legal issues surrounding his 2024 presidential campaign — the billionaire and former casino tycoon’s fourth official presidential effort — Trump remains the betting front-runner to secure the Republican Party’s nomination to challenge Biden next year.

Odds Hold Steady

On the online political betting exchange PredictIt, Trump is still the heavy favorite to win the GOP’s presidential ticket for a third consecutive time.

PredictIt’s market asking, “Who will win the 2024 Republican presidential nomination?” has Trump’s shares at 60 cents.

Florida Gov. Ron DeSantis (R), once seen as the GOP favorite and the potential new leader of the Republican party, has run a lackluster 2024 campaign since announcing his bid via Twitter in May. DeSantis’ 2024 shares for the Republican ticket are at just 20 cents.

American entrepreneur Vivek Ramaswamy has the third-shortest GOP odds at 10 cents. Winning PredictIt shares are redeemed at $1 once the market is resolved.

Though he faces a myriad of federal charges, Trump says the allegations are meritless and represent just the latest in the Democrats’ ongoing “witch hunt.”

Deranged [DOJ Special Counsel] Jack Smith, the prosecutor with Joe Biden’s DOJ, sent a letter … stating that I am a target of the January 6th grand jury investigation and giving me a very short four days to report to the grand jury, which almost always means an arrest and indictment,” Trump wrote on his Truth Social platform.

“So now, Joe Biden’s Attorney General Merrick Garland, who I turned down for the United States Supreme Court (in retrospect, based on his corrupt and unethical actions, a very wise decision!), together with Joe Biden’s Department of Injustice, have effectively issued a third indictment and arrest of Joe Biden’s number one political opponent,” Trump added.

Biden 2024 Favorite

Trump went on to claim that he’s “dominating” Biden in the 2024 presidential race, a claim that’s not necessarily backed by recent polling and odds.

According to the recent polling average compiled by Real Clear Politics, Biden maintains a slim 0.4-point advantage over Trump. PredictIt bettors also believe the incumbent is the front-runner with 475 days until the Nov. 5, 2024, Election Day.

Biden’s shares on the PredictIt market, “Who will win the 2024 US presidential election?” are trading at 44 cents to Trump’s shares at 37 cents. DeSantis is a distant third at 14 cents. California Gov. Gavin Newsom (D) and VP Kamala Harris round out the top five, with their shares respectively at 10 cents and four cents.

The post Donald Trump 2024 Odds Hold Steady Despite Another Federal Probe appeared first on Casino.org.

Filed Under: Gambling News Tagged With: , , , , , ,

Despite Blowout Loss, Draft Kings Leaves Brooklyn Nets at +650 To Miss Playoffs

The Brooklyn Nets were down 50 points to the Chicago Bulls at several points last night during their road game in the Windy City, and things have never looked so bleak. Ben Simmons was watching in street clothes again, Cam Thomas had lost his magic touch, and the resettled former members of the Suns looked lost. In Phoenix, Durant sat once again.

Kevin Durant Phoenix Suns debut owner Mat Ishbia trade
Phoenix Suns owner Mat Ishbia (left) and general manager James Jones (right) joins Kevin Durant (center) at the introductory press conference after the Brooklyn Nets traded Durant to the Suns. (Image: USA Today Sports)

His old team, the Nets were dreadful as they remained in fifth place in the Eastern Conference but had their lead over the New York Knicks cut to one game. The Miami Heat are lurking 2 1/2 games back in seventh place, which is play-in territory.

If the Nets somehow land down there, or 8th, 9th or 10th, they are a play-in team. And if they do not get out of the play-in tournament, they are not a playoff team. Thems the rules at the sportsbooks.

And that possibility — missing the playoffs — remained priced at +650 at Draft Kings on Saturday morning despite what happened Friday night. Brooklyn to miss the playoffs was +550 at BetRivers, and off the board at the other seven New York sportsbooks. Those odds were subject to change, but early risers had that opportunity in front of them as the sun came up to begin the weekend.

The Nets played the worst half in their history Friday night en route to one of their worst beatings in years against a Bulls team that had lost six straight. You are excused if you are a Nets fan who turned off the TV when it was 11-0.

How Bad Can Things Get For the Nets?

They have now lost three of four and five of seven, and next up is a road game Sunday at Atlanta before Hell Week commences: At home Tuesday for the Bucks, at Madison Square Garden on Wednesday to face the Knicks, then at Boston on Friday night on ESPN (unless Mickey Mouse comes to his senses and makes the Knicks-Heat the national TV game.) If we assume they go 0-4, which seems safe to assume after what we saw last night, they will be 34-29.

That is still well above .500, and right now the eighth-place team, the Hawks, is a .500 squad.

But dropping into the play-in bracket remains a real possibility, especially with the Nets having two games remaining against both Milwaukee and Cleveland, with  stretch of seven of eight games being played on the road beginning next Wednesday at MSG. That stretch will be  followed by home games against the Nuggets, Kings and two against the Cavs.

The Web site Five-Thirty-Eight gives the Nets an 85 percent chance of making the playoffs and a 0.3 chance of winning the title, which is a head-scratcher. Nothing is assured for any team finishing lower than sixth, and the Nets are highly capable of losing two consecutive play-in games.

A lot can happen over the course of the remaining 23 games. Beverley’s new team is on the outside looking in sitting 11th in the East (27-33), and 9th place Toronto (29-31) or 10th place Washington (28-31) could fall out. The Wizards’ odds of making the playoff were +210 Saturday morning, the Bulls were +450 and the Raptors were +145 as they headed into a noon game at Detroit. The Nets were listed at -1000 at both DraftKings and BetRivers to make the playoffs.

What Would It Take For Nets To Fall To Seventh or Eighth?

The Nets would win a tiebreaker with the Heat, currently seventh, and they are 1-0 against eighth-place Atlanta heading into Sunday’s game with two games remaining vs. the Hawks. So Miami would have to finish a game ahead, and the tiebreaker with Atlanta remains to be determined.

Five Thirty-eight predicts an 11-12 finish. The Nets have the seventh-toughest remaining strength of schedule, according to Tankathon. And frankly, 11-12 seems generous judging off what we saw last night.

Of their next 15 games, only two are against tanking teams Houston and Charlotte. We could definitely see 2-13 or 3-12. The Magic (twice), Pistons and Rockets are four of their final eight opponents, while Miami still has three games left against the Sixers, three against the Knicks and two against the Cavs. Atlanta has three with the Wizards and two each against the Heat and Celtics.

Remember, the play-in tournament has the No. 7 team hosting the No. 8 team with the winner getting in and the loser hosing the loser of the No. 9-10 game. Only then will the playoff field be set with eight teams. Momentum and a talent drain are working against the Nets. The odds are in their favor, but should they be? Seems like +650 is an enticing wager.

The post Despite Blowout Loss, Draft Kings Leaves Brooklyn Nets at +650 To Miss Playoffs appeared first on Casino.org.

Filed Under: Gambling News Tagged With: , , , , , , ,