Business By The Books: US Sports Betting Customers Prioritize Payouts

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A new report from Paysafe found that how quickly and easily a sportsbook pays out is the most important factor to a US sports betting customer.

Survey respondents in three of six countries prioritized the simplicity of payments atop 12 choices, including 38% of US respondents. Germany (43%) and Italy (41%) also found payout to be the most important deciding factor in choosing a sportsbook.

Ontario sports betting customers put the same importance on easy payouts and a trustworthy brand at 39% each. A trustworthy brand was the most important thing for most UK bettors, while most French bettors (37%) find good odds most important.

Paysafe surveyed 3,000 sports betting customers in the six jurisdictions in December 2023.

AGA projects illegal Super Bowl betting jump

The American Gaming Association expects a total of $23.1 billion in Super Bowl betting this year. That is up more than 44% from last year’s estimate of $16 billion.

Of the expected 67.8 million expected to bet on the game, up 35% from last year, the AGA predicts 28.7 million will be betting on legal US sportsbooks.

The online survey of 2,204 adults was conducted online by Morning Consult between Jan. 30 and Feb. 1. AGA defines a bettor as anyone that will place a bet legally, illegally, in a pool or squares contest, or casually with friends and family.

LSR projects roughly $1.3 billion in legal Super Bowl betting.

Kambi adds Inspired virtual sports

Inspired will supply its line of virtual sports products to Kambi for integration into its B2B sportsbook platform.

Kambi “undertook a rigorous competitive procurement process” before selecting Inspired for its exclusive virtual sports supplier. Kambi supplies multiple US sportsbooks including Bally Bet, betPARX and BetRivers.

Inspired’s virtual sports are available through more than 40,000 retail channels and more than 100 websites across 35 countries.

Virtual sports are seen as a complementary product to sports betting in European countries, though the uptake has been slow in North America. Inspired has added football, basketball, women’s soccer and baseball virtual sports in recent years.

BetMGM launches new Nevada tech before Super Bowl

BetMGM launched its updated Nevada app on Feb. 5, six days before the Super Bowl took place just a few hundred feet from the Las Vegas Strip.

The new tech includes integration of Angstrom, which provides an “exponentially larger number of markets” for the top four US leagues. Same-Game Parlay+, which allows bettors to parlay multiple same-game parlays, is also now included in the Nevada app.

BetMGM also added digital deposits and withdrawals and an integration into BetMGM Rewards.

Caesars adds NFL branding to casino games

NFL branding is being added to Caesars online casino games, including the Caesars Football Blackjack game live in Michigan, New Jersey and Pennsylvania.

Caesars is the exclusive online casino partner of the NFL.

Kindred takes $60M hit on US sports betting exit

Kindred spent $33 million on market closure and contract termination costs in the fourth quarter to pull the Unibet brand out of North America.

The company took another $26 million impairment loss on assets related to the exit, which should be finished in the first half of 2024.

Elsewhere, Kindred appointed interim CEO Nils Andén as the permanent CEO.