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PlayPennsylvania.com: Sportsbooks make first betting volume gains since March

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The return of football helped Pennsylvania sportsbooks post their first month-over-month increase in betting volume since March with nearly $350 million in wagers in August. The gain sets the stage for what could be a record-shattering fall for the state’s sportsbooks as online casinos and poker rooms continue their own torrid pace, according to PlayPennsylvania, which tracks regulated online gaming and sports betting in the state.

“August’s sports schedule is still relatively light compared with the fall, so it is welcome to see betting volume move off the low we saw in July,” said Valerie Cross, analyst for PlayPennsylvania.com. “The next four months is the most important stretch of the year for sportsbooks, though, and every sign points toward a stretch of widespread growth.”

Pennsylvania’s online and retail sportsbooks accepted $348.5 million in wagers in August, down 4.5% from $365.0 million in August 2020 but up 14.5% from $304.4 million in July, according to official data released Monday. August marked the first month since March, when sportsbooks took in $560.3 million in wagers, that the combined handle topped the previous month’s handle.

Gross gaming revenue fell 8.3% to $25.3 million from $27.6 million in August 2020 and fell 7.9% from $27.5 million in July. August produced $18.0 million in taxable revenue, generating $6.1 million in state taxes and $360,145 in local share assessments.

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The gains in August were likely in part a product of increasing interest in baseball, especially as the Philadelphia Phillies remained in postseason contention. But a handful of college and NFL preseason games, in addition to futures betting on football, undoubtedly helped boost bettors’ interest.

“An inglorious exit from the NBA playoffs, the struggles of the Pittsburgh Pirates, and the inconsistency of the Phillies, conspired to make this a relatively slow summer for Pennsylvania’s sportsbooks,” said Dustin Gouker, analyst for the PlayUSA.com Network, which includes PlayPennsylvania.com. “It took just a handful of games in August to show how important football is to the sports-betting industry.”

Bettors made $318.1 million in wagers at the state’s online sportsbooks, representing 91.3% of the state’s total handle. FanDuel led all online operators with $135.7 million in wagering, up 27.1% from $106.7 million in July. FanDuel’s online revenue fell 54% to $5.7 million in August from $12.3 million in July, yielding $3.0 million in taxable revenue.

DraftKings was second in the state with $80.4 million in wagers, up 21.4% from $66.2 million in July. That yielded $8.0 million in gross revenue and $6.6 million in taxable revenue. BetMGM was third in the state with $29.0 million in wagers and $2.5 million in gross revenue.

Penn National’s Barstool-branded app attracted $26.3 million in wagers creating $2.1 million in gross revenue and $1.6 million in taxable revenue.

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The online leaders were followed by:

  • BetRivers ($13.2 million handle, down from $14.5 million; $882,274 GGR, down from $1.3 million)
  • SugarHouse ($10.3 million handle, up from $9 million; $692,350 in GGR, up from $680,099)
  • Fox Bet ($8.6 million handle, down from $10 million; $746,103 in GGR, up from $709,376)
  • Parx Casino ($6.4 million handle, down from $7.9 million; $713,282 GGR, down from $745,087)
  • Unibet ($4.2 million handle, down from $4.5 million; $307,601 GGR, down from $316,936)
  • TwinSpires ($2.3 million handle, up from $2.1 million; $147,448 GGR, down from $179,276)
  • Caesars ($1.2 million handle, up from $947,532; $73,785 GGR, up from -$126,967)
  • Betway ($617,954 handle; up from $563,481; $18,818 GGR, up from -$32,239)
  • Wind Creek ($521,601 handle, up/down from $406,259; $78,195 GGR, up from $6,284)

Meanwhile, retail sportsbooks accepted $30.4 million in wagers in August, up from $29.0 million in July. Those wagers created $3.3 million in gross gaming revenue, up 22.8% from $2.7 million in July. Rivers Philadelphia topped the retail market with $5.1 million in bets, ahead of Rivers Pittsburgh’s $4.4 million handle.

“Revenue generation is important this time of year, too, but football is often a springboard for operators to build relationships with new customers,” Gouker said. “This is why operators are aggressive with their football-related promotional offerings and advertising campaigns, particularly around the opening weeks of the season. It’s also a time when giants such as FanDuel and DraftKings really can exploit their resource advantage over smaller operators.”

Online casinos and poker

Online casinos and poker rooms posted their sixth consecutive month with gross gaming revenue over $100 million with $103.2 million in August. That was up 54.8% from $66.7 million in August 2020, though down 1.2% from $104.5 million in July.

Gross revenue was whittled to $88.7 million in taxable revenue, which was even with July. August’s win yielded $39.4 million in state and local taxes. Wagering at online casino games remained brisk, hitting $3.2 billion in August, which was also even with July.

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“While sportsbooks ebb and flow with the seasons, the growth at online casinos has been consistent and relentless,” Cross said. “As the weather cools, that growth should continue. There are no signs yet that point to any kind of slowdown on the immediate horizon.”

Other highlights from August:

  • Online casino and poker rooms generated $3.3 million in gross gaming revenue per day over the 31 days of August, down from $3.4 million per day in July.
  • Penn National, which includes the DraftKings, BetMGM, Barstool, and Hollywood casinos, led the market once again with $35.1 million in gross revenue. Rivers Philadelphia, which includes SugarHouse, Borgata, and BetRivers casinos, was second with $30.8 million.
  • On the strength of the first full month of the World Series of Poker, poker generated $3.2 million in revenue, up from $2.7 million in August 2020. Mount Airy/PokerStars topped operators with $1.9 million in revenue.

For more information, visit www.playpennsylvania.com/news.

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AGCO Removes Cap on Seller Commission for Charitable Lottery Products

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The Alcohol and Gaming Commission of Ontario (AGCO) has updated several lottery policies to remove the cap on seller commission for Paper Raffles and Media Bingo, along with removing the prohibition on Catch the Ace paper lotteries, to align with other charitable lottery products.

Licensed charities may now negotiate commissions directly with sellers and determine commissions, provided they are reasonable and tied to the cost of service provided by the seller.

These updates further the AGCO’s commitment to adopt an outcomes-based regulatory approach and reduce burden for the charitable gaming sector. Local charitable organizations will have greater flexibility to make decisions that best serve their fundraising objectives.

Important Reminders

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• Charities must still receive approval for other expenses incurred under their licence and retain receipts for seller commission paid.

• Licensing authorities will not require documentation to be submitted as part of the application process, however, charities are still subject to audit to determine compliance.

• Charities are reminded of their legal requirement to meet their obligations under the Criminal Code and with respect to conducting and managing a charitable gaming scheme.

• As with all licensed charitable lottery events, charities must take the necessary steps to ensure that they are conducting and managing the lottery event within Ontario.

For charitable gaming-related inquiries, email an AGCO Eligibility Officer at [email protected] or call AGCO Customer Service at 1-800-522-2876, Monday to Friday from 8:30 a.m. to 5 p.m.

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Segev LLP Celebrates 10 Years of Business-Focused Legal Innovation

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Leading business, technology, finance, and gaming law firm, Segev LLP, is proud to announce its 10th anniversary. Over the past decade, Segev has evolved from a bold idea into a multi-jurisdictional firm serving clients across Canada, the U.S., and beyond.

Built for innovation-driven industries, the firm is widely recognized for its work with companies at the forefront of gaming, crypto, technology, and emerging sectors. “Our 10-year anniversary is a defining moment,” said Founding Partner, Ron Segev. “It’s a testament to the strength of our team and our culture of teamwork, self-improvement, and growthall of which is directed at scoring wins for our great clients.”

As industries like fintech, crypto, iGaming, and AI have matured, so has the firm, often in parallel with its clients. “We’ve all grown together with our clients from one success to the next, whether it be helping clients complete financings or helping them close business,” said Managing Partner Alon Segev. “I look forward to continued growth for us and our clients in the next 10 years!”

The firm’s client-first approach has consistently earned recognition from top legal ranking guides. Segev LLP is ranked by Chambers and Partners as a “Leading Firm” and “Band-1” in Canada for Gaming Law and are also recommended by The Legal 500 and Lexology. These rankings reflect the team’s ability to deliver strategic, high-quality legal solutions that align with their clients’ business goals.

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Recognized for their unique ability to exceed expectations and deliver out-of-the-box solutions, Segev LLP’s clients have affirmed: “The firm demonstrates its capability not only to understand complex matters, but also to offer solutions that are practical, pragmatic, and value-adding.”

“Segev possesses outstanding resources and maintains global partnerships, enabling it to deliver precise and informed responses to any queries related to the iGaming industry.”

“Epic service, very good, I won the case!”

“Great service, friendly atmosphere, and support.”

Several Segev team members also reflected on the milestone: “There was a moment early in my time here when I realized I wasn’t just being brought in to help; I was expected to contribute, take initiative, and run with big ideas. That stuck with me,” said Negin Alavi.

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“Together with our clients, [Segev] has experienced remarkable growth over the past decade. I’m honored to have contributed to this journey and to celebrate these shared successes,” said David McHugh.

Segev has cultivated a thriving law practice on the principle that challenges are to be embraced as opportunities. The approach has enabled us to grow as lawyers, but more importantly, it has enabled us to ensure the success of our clients,” said Mark Balestra.

“Since joining through Segev’s Ontario expansion, I’ve had the chance to work alongside some of the sharpest and most collaborative lawyers in the gaming space,” added Manav Bhargava. “As a full-service firm and industry leader, Segev stands out for its ability to support innovative businesses with practical, forward-thinking legal advice.”

Segev LLP will commemorate the anniversary with a series of internal and external initiatives throughout the remainder of the year.

The post Segev LLP Celebrates 10 Years of Business-Focused Legal Innovation appeared first on Gaming and Gambling Industry in the Americas.

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INCENTIVE GAMES SECURES ONTARIO GAMING LICENSE

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Incentive Games, a leading B2B games provider, is proud to announce that it has been awarded an Ontario Gaming License by the Alcohol and Gaming Commission of Ontario (AGCO), effective today. This achievement enables the company to offer its portfolio of real-money games to licensed operators and players across the province.

The license underscores the Incentive Games’ commitment to meeting the highest standards of compliance, security, and operational excellence. The rigorous application process demands robust security protocols and comprehensive responsible gaming measures and affirms the company’s readiness to enter one of Canada’s most dynamic iGaming markets.

The North American market is a strategic focus for Incentive Games, and this milestone follows closely on the heels of the company receiving its Provisional Michigan gaming licence from the Michigan Gaming Control Board earlier this month.

Incentive Games will distribute its real-money gaming content in Ontario through Incentive Studios, the company’s dedicated Real-Money Gaming division, ensuring a focused and tailored approach to the market.

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“Ontario represents a huge opportunity for us, and securing this license is a proud moment for the whole team,” said John Gordon, Chief Executive Officer at Incentive Games. “It reinforces our dedication to meeting the highest standards while delivering compelling real-money content. We’re looking forward to building strong relationships in the region and continuing our momentum across regulated markets worldwide.”

The post INCENTIVE GAMES SECURES ONTARIO GAMING LICENSE appeared first on Gaming and Gambling Industry in the Americas.

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