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MICHIGAN SPORTSBOOKS’ HANDLE RISES TO NEARLY $260 MILLION IN JUNE Online sports and casino betting falls in June, but revenue from sports betting makes a significant jump, according to PlayMichigan

Published

3 years ago

July 20, 2021

Michigan’s online and retail sports betting volume rose slightly in June but remained relatively low as sportsbooks continued to slog their way through the summer slowdown. But with the first significant jump in taxable revenue and an online casino industry that remains a reliable revenue generator, the industry has much to look forward to when summer turns to fall, according to PlayMichigan, which analyzes and researches the state’s regulated online gaming and sports betting market.

“Michigan’s sportsbooks grew so quickly from January through March that the slowdown that has followed might feel more dramatic than the reality,” said Jessica Welman, analyst for the PlayUSA.com Network, which includes PlayMichigan.com. “Sportsbooks remain in excellent position for a ramp up when football season approaches. Until then, they will have to rely on opportunities such as the Olympics and the NBA Finals to stoke interest.”

Michigan’s online sportsbooks accepted $235.1 million in wagers over the 30 days of June, down 1.0% from $237.6 million over the 31 days of May, according to official data released Monday by the Michigan Gaming Control Board. With $24.4 million in retail handle, announced earlier this week, Michigan’s online and retail sportsbooks took in a combined $259.4 million in bets. That total is up 0.7% from $257.7 million in bets in May.

April, May, and June are typically three of the slowest sports betting months of the year, but no major U.S. sports jurisdiction has experienced a steeper decline from March’s highs as has Michigan. June’s combined handle is off 32.4% from the record $383.7 million combined handle in March. By comparison, Indiana’s sports betting volume dropped 22.2% from March to June, and Iowa is down 31.1%.

European Gaming Congress 2024 (Warsaw, Poland)

More importantly, though, gross gaming revenue at online sportsbooks rose 28.2% to $24.9 million in June from a $19.5 million total in May. And June’s online sports betting hold of 10.6% for operators was their best for any full month in Michigan. After promotional credits, online sportsbooks produced $16.8 million in taxable revenue, up from $9.9 million. That yielded $1.4 million in state and local taxes from online betting.

“We’ve been waiting for a bump in taxable revenue that led to a real increase in tax revenue, which we finally got in June,” said Matt Schoch, analyst for PlayMichigan.com. “If there has been a disappointment with Michigan’s launch, it’s that tax revenue gains have lagged. So hopefully, this will continue into the fall, when we know revenue from sports betting will make a big leap forward.”

FanDuel topped the online market in June with a $77.3 million handle, up from $71.2 million in May. That led to a market-best $10.3 million in gross sports betting revenue, up from $9.3 million. June’s action produced $8.1 million in taxable revenue.

DraftKings trailed with $56.5 million in wagers, down from $66.7 million in May. Gross gaming revenue rose to $5.0 million from $1.9 million in May. BetMGM followed closely with $52.1 million in wagers, up from $51.6 million in May. That produced $6.1 million in gross receipts and $4.2 million in taxable revenue.

The online market leaders were followed by:

Barstool ($16.7 million handle, down from $18.1 million in May; $1.8 million gross revenue, up from $1.1 million)
PointsBet ($10.2 million handle, down from $11.4 million; $911,170 GGR, down from $1 million)
William Hill ($7.9 million handle, up from $6.2 million; $598,641 GGR, down from $217,050)
WynnBet ($5.5 million handle, up from $1.4 million; -$383,777 GGR, down from $168,874)
Fox Bet ($3.7 million handle, down from $5.1 million; $332,639 GGR, down from $338,049)
BetRivers ($2.5 million handle, down from $2.8 million; $332,639 GGR, up from $76,004)
Twin Spires($1.3 million handle, down from $1.5 million; $143,197 GGR, up from $95,645)
Golden Nugget ($914,393 handle, down from $923,269; $83,855 GGR, up from $10,750)
Four Winds Sportsbook ($607,100 handle, up from $545,937; -$18,782 GGR, up from -$20,000)

FireKeepers reported $656 in handle and $299 GGR from a soft launch in June. The platform was released widely in July.

“FanDuel really opened up a significant market share lead, which will be difficult for any rival to overcome,” Schoch said. “WynnBet is taking on an aggressive marketing strategy, including a deal with the Detroit Lions announced last week. This could spark other smaller operators to take a more aggressive posture, too, which would ultimately be good for bettors.”

Bally Bet Sportsbook & Casino app

Bally’s Interactive Launches the New Bally Bet Sportsbook & Casino App in Ontario

Published

3 days ago

December 20, 2024

GamingAmericas.com

bally’s-interactive-launches-the-new-bally-bet-sportsbook-&-casino-app-in-ontario

Bally’s Interactive, the digital and sports betting division of Bally’s Corporation, has launched the all-new Bally Bet Sportsbook & Casino app in Ontario, Canada. This latest release marks another significant milestone for the company, following the recent app update in New Jersey and a series of successful app launches in the past year, including the introduction of Bally Bet Sportsbook across multiple states and Bally Casino in Rhode Island.

The updated Bally Bet Sportsbook & Casino app represents a major step forward, as it combines the functionalities of the existing Bally Casino app and Bally Bet Sportsbook app into one comprehensive platform. Powered by White Hat Gaming, this new app allows players residing in or traveling to Ontario to conveniently place wagers on both sports and casino games using a single app, account, and universal wallet.

“We are thrilled to introduce the new Bally Bet Sportsbook & Casino app, marking a significant milestone for Bally’s. This integrated platform merges the features of our previous apps, providing players in Ontario with a seamless experience for both sports and casino betting. Our commitment to enhancing the player experience remains at the forefront as we strive to personalize the enjoyment of playing Bally Bet,” said Robeson Reeves, CEO of Bally’s Corporation.

BCLC

Be #GiftSmart: Scratch the Idea of Gifting Scratch & Win Tickets to Kids

Published

4 days ago

December 19, 2024

GamingAmericas.com

be-#giftsmart:-scratch-the-idea-of-gifting-scratch-&-win-tickets-to-kids

BCLC reminds adults to gift responsibly this holiday season

With the holiday season in full swing, BCLC is reminding British Columbians to gift responsibly and scratch lottery products from their shopping lists for kids.

“Scratch & Win tickets can make great stocking stuffers for the adults in your life, but they’re not for kids,” said Ryan McCarthy, BCLC’s Director of Player Health. “The research shows that children who have early encounters with gambling are four times more likely to develop riskier gambling behaviour as they grow up. While people are out shopping for those last-minute gifts, BCLC wants adults to be aware of the potential risks associated with gifting lottery products to children and to consider safer alternatives.”

While Scratch & Win tickets are among the most common ways kids can be introduced to gambling, children are increasingly exposed to various online forms, such as gambling streams.

“With the convergence of gaming and gambling, youth are becoming more exposed to gambling content in online spaces like streaming sites, where creators are able to live-stream their own gambling, usually while playing online slots and instant games,” said Dr. Luke Clark, Director for Gambling Research at UBC. “Our research at the UBC Centre for Gambling shows that a higher frequency of watching online gambling streams is associated with a more positive attitude towards gambling and a high intention to gamble in the future.”

In B.C., it is illegal to sell lottery products to anyone under the age of 19 and BCLC encourages adults to have conversations with the kids in their lives about the risks associated with gambling.

“Open and honest conversations are crucial when it comes to navigating childhood exposure to gambling,” said McCarthy, who shared the following tips to adults:

Monitor for gambling-related lifestyle changes. For example, developing a positive attitude towards gambling or a preoccupation with video games or streaming sites.
Be a positive role model. Exhibit safer gambling behaviour and talk about the risks.
Limit exposure. Monitor kids’ online activities and discourage engagement with gambling content. Explain how gambling is based on chance.

AGCO

Jackpot Digital Receives Approval from AGCO as a Registered Gaming Supplier

Published

1 week ago

December 16, 2024

GamingAmericas.com

jackpot-digital-receives-approval-from-agco-as-a-registered-gaming-supplier

Jackpot Digital Inc., a leading provider of innovative dealerless electronic poker gaming solutions, has announced that the Alcohol and Gaming Commission of Ontario (AGCO) has approved the Company to be licensed as a registered Gaming Related-Supplier (the “Supplier License”) under the Gaming Control Act in the Province of Ontario.

This significant achievement allows Jackpot Digital to enter one of the most dynamic and rapidly growing regulated gaming markets in North America. The Supplier License authorizes Jackpot Digital to supply its electronic table games to Ontario’s gaming venues, including casinos and other regulated gaming facilities.

Jackpot Digital’s flagship product, the Jackpot Blitz electronic table game system, offers a modern, dealerless, player-friendly solution that integrates traditional multiplayer poker games with cutting-edge digital technology. The Supplier License will enable the Company to offer its innovative gaming solutions to operators throughout Ontario, driving new revenue opportunities and enhancing player experiences.

“Receiving AGCO’s approval is a major milestone. This approval provides us with the opportunity to offer our top-tier electronic gaming systems to operators throughout all of Ontario, positioning us for further growth in one of the world’s most robust gaming markets. We are excited to bring our innovative products to Ontario’s gaming community and continue our commitment to providing exciting, technology-driven entertainment experiences,” said Jake Kalpakian, CEO of Jackpot Digital.