Big Money in Mobile Sports Betting
Online sports books and betting exchanges have been among the leading beneficiaries from the rise in popularity of smartphones and tablet computers among consumers, a report released Monday found.
The Juniper Research report finds more than $13 billion in bets, including more than $3 billion in the United Kingdom, were placed via mobile devices worldwide in 2011, a figure expected to reach $45 billion by 2017.
The report, “Mobile Gaming: Casinos, Lotteries & Betting 2012-2017,” notes that most leading sports books last year experienced a dramatic increase in the volume of bets from European, primarily U.K. customers. Nevada is the only state in the United States with legalized mobile and tablet sports wagering.
“Companies such as Ladbrokes, William Hill and Paddy Power are all seeing 40 percent or more of online sports book customers placing bets via a mobile or tablet, with the result that those devices already account for around 20 percent of bets placed,” said Windsor Holden, the report’s author.
All three bookmakers are expanding into Nevada.
Last month, William Hill’s $55 million acquisition of three sports book operators was approved by Nevada gaming regulators. The company acquired American Wagering Inc., Brandywine Bookmaking LLC and Club Cal Neva.
Ladbrokes awaits gaming regulators’ OK of its $3 million purchase of 65 percent of Stadium Technology Group, a Las Vegas-based supplier of software and betting apps to sports book operators.
A state Gaming Control Board hearing to determine Paddy Power’s suitability to do business in Nevada is scheduled for Wednesday.
Contact reporter Chris Sieroty at csieroty@reviewjournal.com or 702-477-3893
________________________________________________________________
Copyright 2012 Stephens Media Interactive GamingWire.
All rights reserved.
