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interactive sports betting 2 years 9 months ago #33549

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п»їGOING BEYOND THE GAME.
We Develop Market-Proven Online, Social, and Land-based Gaming Products Exclusively for Regulated Markets across the Americas.
SPORTSBOOK.
Benefit from our experience!
SPORTSBOOK.
Rush Street Interactive has successfully deployed several instances of complete and state-of-the-art Sportsbook solutions in retail venues. We were the first to open a legal sportsbook in the state of New York and in Illinois. We also operate in-casino sportsbooks at Rivers Casinos in Pittsburgh & Philadelphia and at the historic French Lick Resort in Indiana.
See what sets us apart!
CASINO.
Rush Street Interactive operates regulated Online Casinos in New Jersey & Pennsylvania that consistently rank among the top-performing brands by revenue in each jurisdiction. The differentiated user experience and market-leading retention rates delivered by this product were instrumental in our recognition as the “Mobile Operator of the Year” in North America at the EGR North America Awards 2019 and “American Operator of the Year” & “Casino Operator of the Year” at the American Gambling Awards in 2019.
SPORTSBOOK.
Our new Social Gaming Sportsbook lets users experience all the fun of our Online Gaming Sportsbook product in a casual, free-to-play setting. We use the same platform for Social Gaming as for the Online Gaming Sportsbook, which enables our partners to cost-effectively pre-register qualified bettors in advance of iGaming legalization.
CASINO.
With a proven credit-based economy, unique social features, and nearly two dozen high quality game suppliers (including several who are exclusive to RSI), we’re offering players fun experiences while rewarding loyalty and building player communities.
IGAMING PLATFORM.
We’ve built our platform in-house using a single codebase. This means functionality is built once and utilized across all verticals. In addition, RSI has operationalized our iGaming platform with a singular focus on generating efficient player conversion and market-leading retention rates. When combining this with our proprietary custom software innovations, the sites we develop are well-positioned to gain market share, similarly to what we have achieved in all of the markets where our iGaming platform is live.


Interactive Brokers Group Announces BET, LEARN, WIN.
GREENWICH, Conn.--( BUSINESS WIRE )--Interactive Brokers Group, Inc. (IEX: IBKR) will award up to $1,000 of commission credits to one million new customers for use in their IBKR brokerage accounts. Participants in this promotion can receive these credits by converting their winnings on bets made on IBKR’s Simulated Sports Betting Exchange.
“We expect this promotion to attract customers who may be new to the Interactive Brokers platform, and who are more familiar with spectator sports than they are with the financial markets,” said Thomas Peterffy, Chairman of Interactive Brokers.
“Our intention is to teach people about the probabilistic nature of markets, trading and investing. We are illustrating this by our Simulated Sports Betting Exchange where each winning bet pays 100. A player who assesses a team’s chances to win at, say 40% may want to buy a bet at less than 40 or sell it at more than 40. As more information emerges and as the event gets under way, these odds will change and the price of the bet will begin to fluctuate, similar to the price of a stock,” Peterffy said.
“By partaking in this promotion, our players will learn about our platform, how to trade and make investments and how to keep track of their finances, all while being entertained. We are betting that many of these participants will also try our free demo brokerage account and that eventually many will become Interactive Brokers’ clients,” he added.
This is how Simulated Sports Betting by Interactive Brokers works:
The first 2.2 million participants who open a Simulated Betting account will be provided with an account balance of “$1,000” in virtual USD (or its equivalent in virtual Euro, GBP or CAD). Participants will then be able to use this virtual currency to buy (place), sell (take) and trade simulated sport betting contracts.
Each winning simulated betting contract will pay 100 virtual dollars (or 100 virtual Euro, GPB or CAD where applicable). Just like with trading stocks, bonds, options or futures, on the Simulated Sports Betting Exchange, participants can buy and sell bets with each other by placing bids or offers for a specific outcome. Valid bids and offers will range from 0.05 to 99.95 in virtual currency, reflecting the bettors’ estimates of the percentage probability of outcomes. Simulated Betting accounts will be credited with any virtual winnings and debited with any virtual losses. A virtual commission per contract will be deducted on each trade equal to the lesser of 1% of the bet amount or (100 - the simulated bet amount). Participants may not have more than 3 open betting contracts at a time per event, but open bets may be closed out and new contracts may be bought or sold continuously.
Winnings in Simulated Sports Betting accounts may be converted into up to $1,000 commission credits (the PRIZE) to be used in an Interactive Brokers brokerage account. Such conversion may be made only one time and commission credits may not be transferred or withdrawn. Any unused credits will automatically expire with no value after five years. Participants cannot make deposits or withdrawals in Simulated Betting accounts.
All money in Simulated Betting accounts is virtual, non-transferable and has no cash value.
If any virtual account balance dips to zero, it will be closed, and no other Simulated Betting account may be opened by the same player. Opening a brokerage account is subject to Interactive Brokers’ eligibility requirements and its terms and conditions.
We are momentarily releasing 1,000 simulated betting accounts to individuals who have tried our free demo account in the recent past as a test group. We expect that by the quarterfinals of Wimbledon anyone who is eligible will be able to open a simulated betting account.
About Interactive Brokers Group, Inc.:
Interactive Brokers Group affiliates provide automated trade execution and custody of securities, commodities and foreign exchange around the clock on over 125 markets in numerous countries and currencies, from a single IBKR Integrated Investment Account to clients worldwide. We service individual investors, hedge funds, proprietary trading groups, financial advisors and introducing brokers. Our four decades of focus on technology and automation has enabled us to equip our customers with a uniquely sophisticated platform to manage their investment portfolios at the lowest cost according to Barron's Best Online Brokers review, February 25, 2019. We strive to provide our clients with advantageous execution prices and trading, risk and portfolio management tools, research facilities and investment products, all at low or no cost, positioning them to achieve superior returns on investments.


Mobius Interactive Ltd. Sees Growth in U.S. Sports Betting Industry.
February 4, 2021 at 12:24pm.
Sports betting industry growing nationwide; multiple states expected to legalize online sports betting by 2022 Las Vegas Sands Corp. is softening stance on online gambling Mobius commited to making sure all players are GambleAware.
Mobius Interactive, an online gaming operator that launched in September 2020, targets a variety of customer segments and geographies through its diverse brand offerings. As sports betting grows in the United States, Mobius sees opportunity. The company utilizes a loyalty and gamification program to increase customer engagement from the moment of signup, held in balance with its social responsibility toward players with the GambleAware initiative.
Mobius’ reported in its February 2021 newsletter (ibn.fm/O871b) that the state of Tennessee took the top spot in sports betting with a combined $131.4 million wagered, generating $2.4 million in tax revenue in its first month. As states struggle to make budget, some are reconsidering this revenue stream. Currently, there are approximately a dozen states where online sports gambling is legal with the possibility of that number doubling by 2022 (ibn.fm/A0f21).
Online poker legalization has not progressed in the U.S. with the same speed as sports betting, slowed in part by CEO of Las Vegas Sands Corp. Sheldon Adelson’s fierce lobbying against online gambling (ibn.fm/l46eE). Adelson stated he was willing to spend any amount to stop internet gambling. He saw it as his moral obligation and considered online gambling “suicidal” for the U.S. casino industry. However, with his recent passing, there is talk that Las Vegas Sands Corp is ready to enter the U.S. online sports betting arena (ibn.fm/X7FLV). This move could be the beginning of a new era for the nation in online betting for both sports and casinos.
Mobius takes its social responsibility towards players seriously by ensuring that players are GambleAware (ibn.fm/ic9l8). One of Adelson’s biggest oppositions to the online betting industry was the increase in gambling addiction. Mobius is adamant that gambling should be treated as a fun pastime and not a way to generate income.
For players who have a problem and need help, Mobius offers a self-exclusion facility that locks the account for a minimum of one week and requires a written request before re-opening can be considered. The company acknowledges that while most of the population is capable of treating gambling as recreation, it is more difficult for some.
Mobius provides players with access to more than 34 eSports games and mega tournaments. Available around the clock, the platform has a wide range of functionalities, mystery jackpots, cutting-edge technology, and live and prematch odds. The company has partnered with UltraPlay, a globally recognized, award-winning, unrivaled eSports odds and platform supplier. The esSports industry is booming, and Mobius is ideally positioned to see the greatest benefit from the boom.
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GOING BEYOND THE GAME.
We Develop Market-Proven Online, Social, and Land-based Gaming Products Exclusively for Regulated Markets across the Americas.
SPORTSBOOK.
Benefit from our experience!
SPORTSBOOK.
Rush Street Interactive has successfully deployed several instances of complete and state-of-the-art Sportsbook solutions in retail venues. We were the first to open a legal sportsbook in the state of New York and in Illinois. We also operate in-casino sportsbooks at Rivers Casinos in Pittsburgh & Philadelphia and at the historic French Lick Resort in Indiana.
See what sets us apart!
CASINO.
Rush Street Interactive operates regulated Online Casinos in New Jersey & Pennsylvania that consistently rank among the top-performing brands by revenue in each jurisdiction. The differentiated user experience and market-leading retention rates delivered by this product were instrumental in our recognition as the “Mobile Operator of the Year” in North America at the EGR North America Awards 2019 and “American Operator of the Year” & “Casino Operator of the Year” at the American Gambling Awards in 2019.
SPORTSBOOK.
Our new Social Gaming Sportsbook lets users experience all the fun of our Online Gaming Sportsbook product in a casual, free-to-play setting. We use the same platform for Social Gaming as for the Online Gaming Sportsbook, which enables our partners to cost-effectively pre-register qualified bettors in advance of iGaming legalization.
CASINO.
With a proven credit-based economy, unique social features, and nearly two dozen high quality game suppliers (including several who are exclusive to RSI), we’re offering players fun experiences while rewarding loyalty and building player communities.
IGAMING PLATFORM.
We’ve built our platform in-house using a single codebase. This means functionality is built once and utilized across all verticals. In addition, RSI has operationalized our iGaming platform with a singular focus on generating efficient player conversion and market-leading retention rates. When combining this with our proprietary custom software innovations, the sites we develop are well-positioned to gain market share, similarly to what we have achieved in all of the markets where our iGaming platform is live.


Chicago Billionaire Doubles Down On Gambling Empire As More States Legalize Sports Betting.
John Lamparski/WireImage/Getty Images.
As more states look to legalizing online betting to raise revenue, one Chicago billionaire is already cashing in on the fast growing industry. Real estate magnate Neil Bluhm, who cofounded online casino and sports betting outfit Rush Street Interactive (RSI), got more than $1 billion richer when his firm closed on its merger with the blank check company dMY Technology Group on December 30.
Bluhm, 83, founded RSI in 2012 with his longtime business partner Greg Carlin as an offshoot of his Rush Street Gaming, which owns casinos in Illinois, New York and Pennsylvania. RSI offers sports betting, where customers bet on sports games online, and online gambling, where customers play various casino games such as blackjack and slot machines digitally. RSI recorded a $90 million loss on $178 million sales in the first nine months of 2020, with expected revenues of about $270 million for the year. RSI expects sales to grow to $320 million in 2021. “We’re growing like a weed and we’re adding states all the time,” Bluhm told Forbes in a phone interview. “The growth potential is tremendous.”
He owns a 54% stake in RSI worth $2.3 billion, part of his estimated $6.3 billion net worth, which includes Rush Street Gaming as well as a real estate portfolio spanning from California to Chicago and small stakes in the Chicago Bulls and the Chicago White Sox. Carlin’s 17% stake in RSI is worth about $720 million. The value of RSI has more than doubled since July, when the firm first announced its plans to go public.
RSI went public by merging with a special purpose acquisition company, or SPAC, an investment vehicle with no operations which goes public to raise funds to acquire a privately-owned firm. It’s the latest to join the SPAC boom after RSI’s main competitor, DraftKings, went public via SPAC in April and Texas billionaire Tilman Fertitta’s Golden Nugget Online Gaming completed its own reverse merger on December 30. The DraftKings IPO minted a new billionaire, Israeli entrepreneur Shalom Meckenzie, whose 6% stake in the company is now worth about $1.2 billion.
RSI is currently active in nine U.S. states — Colorado, Illinois, Indiana, Iowa, Michigan, New Jersey, New York and Pennsylvania — and the country of Colombia, while DraftKings operates in 11 states as well as the U.K. and Canada. DraftKings is one of the leaders in the sports betting market, but RSI is a bigger player in the online casino industry. According to Macquarie Group analyst Chad Beynon, RSI controls about 15% of the U.S. online casino market, equal to privately-owned FanDuel and more than DraftKings, MGM and Golden Nugget, which each have 10% market share. In sports betting, FanDuel and DraftKings together have about 60% of the market, with RSI in the low single digits.
"You really have to look out a couple of years and say, 'what will the market share be for some of these winners in the market?’ Unfortunately this is a time where we're thinking like software analysts, where we put a multiple on 2025 or 2030 numbers,” said Beynon. “The next question is what does Rush Street do between 2021 and 2030? DraftKings is out there and they have the market access, and Rush Street has done very well in the markets that they're in.”
While online sports betting is currently legal in 13 states and Washington D.C. — seven additional states allow only in-person sports betting — the legal market for online casinos is much smaller. As of early January 2021, online casino games are only operating in Delaware, New Jersey, Nevada, Pennsylvania and West Virginia. But the landscape is rapidly changing: Michigan is launching both online casinos and sports betting later this month and Nebraska voters approved the legalization of gambling by a wide margin in November, although the state legislature still needs to enact laws to regulate the industry. Facing a cash crunch from the Covid-19 pandemic, more states could be persuaded to legalize either sports betting or online gambling in the coming years.
“Very few states have allowed [online casinos] so far, but they need revenue now, so many states are considering it. They’re all looking at it because they’re desperate for revenue and jobs,” said Bluhm. “Sports betting is getting all the attention, but we’re projecting that online casinos will be more valuable.”
According to BofA Securities analyst Shaun Kelley, the combined market for sports betting and online gambling is expected to balloon from about $5 billion in annual sales today to $22 billion a decade from now as more states join the map. On January 6, New York Governor Andrew Cuomo announced he would push to legalize mobile and online sports betting in the state, a significant boost for the industry. The next largest states to join could be Florida, where lawmakers have filed a bill to legalize sports betting, and Massachusetts, where a sports betting bill was passed by the state House but is still held up in the Senate.
“We're in the very early innings of what growth could look like,” said Kelley. "The industry is in such a nascent stage. The big driver of growth is that there's a whole slew of states and apps that are available that just weren't there a year ago.”
Editor’s note, January 12, 2021: This article has been updated to reflect newer projections of future sales in the sports betting and online gambling markets provided by BofA Securities.




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