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INDIANA’S SPORTS BETTING VOLUME DROPS TO LOWEST LEVEL IN NEARLY A YEAR Sportsbooks take in $194.5 million in bets in what is historically the slowest month of the year, but still tops $4 billion milestone for lifetime wagering, according to PlayIndiana
Indiana’s sportsbooks slowed to less than $200 million for the first time in nearly a year, but volume was still enough to push the state’s lifetime handle past $4 billion — $3 billion of which has come over the last 12 months. July’s slowdown came during what is historically the month with the lowest sports betting volume in the U.S., a pattern that continued even as the NBA Finals and the first week of the Olympics gave this July an unusually busy sports calendar, according to PlayIndiana, which tracks the state’s gaming industry.
“Sports betting is ultimately for entertainment, and this time of year it can take a backseat to long weekends at the lake or summer barbecues,” said Jessica Welman, analyst for the PlayUSA.com Network, which includes PlayIndiana.com. “With people traveling at an accelerated rate this summer, it appears that the trough is even more pronounced than usual. But July should be the low point, as bettors begin to return from their summer vacations in August and excitement builds for the upcoming football season.”
Online and retail sportsbooks took in $194.5 million in bets in July, which is down 21% from $246.3 million in June, according to official reporting released Thursday. Averaged out over the 31 days of July, sportsbooks accepted $6.3 million in wagers per day, down from $8.2 million per day in June.
Gross gaming revenue remained relatively strong in July with $17.2 million, down 35.6% from $26.7 million, which equals an 8.9% hold. Adjusted gross revenue came in at $17.5 million, yielding $1.7 million in state taxes.
Indiana’s results are in line with historical trends. Removing the pandemic-altered numbers produced in 2020, the lowest-volume month across the U.S. in both 2018 and 2019 was July.
Baseball topped all sports with $63.5 million in wagering, up from $60.5 million in June. The NBA Finals fueled $26.8 million in basketball betting in July, which was down from $77.1 million in June. Basketball has generated $896.9 million in bets so far this year, more than any sport by far, and has been the most bet-on sport in every month since December 2020.
“Indiana’s love of basketball has helped shield the state’s sportsbooks from some of the more pronounced seasonal dips experienced in other states, so a smaller volume of games in July was felt,” said Nicole Russo, analyst for PlayIndiana.com. “Betting interest on the Olympics appears to have been modest at best, and even with the NBA Finals being later than usual, it wasn’t enough to overcome fewer games being on the board.”
July’s wagering was enough to push Indiana past another significant milestone, becoming the state with the smallest population — other than Nevada — to reach $4 billion in lifetime handle. Since sports betting launched in Indiana in September 2019, sportsbooks have generated:
- $4.1 billion in online and retail wagering, including $3.0 billion since Aug. 2020
- $334.6 million in gross gaming revenue
- $31.8 million in state taxes.
“The market has changed significantly since launch, but from the beginning Indiana has punched above its weight class among U.S. markets,” Welman said. “It remains a model market that states still considering the legalization of sports betting would be wise to emulate.”
Bettors made $174.6 million in online wagers in July, accounting for 89.8% of all bets made in the state. Retail betting accounted for the remaining $19.9 million in July, down from $27.9 million in June.
DraftKings held on to its market lead in July with $60.2 million in online wagering, down from $75.6 million in June. July’s bets generated $4.7 million in gross receipts, down from $6.2 million in June. FanDuel closely trailed with $54.3 million in July wagering, down from $64.2 million in June. Those bets produced a market-best $5.3 million in gross receipts, down from $9.1 million.
The leaders were followed by:
- BetMGM ($25.6 million handle, down from $29.2 million in June; $2.2 million win, down from $3.2 million).
- William Hill ($7.9 million handle, down from $11.1 million; $228,927win, down from $3.0 million)
- Barstool ($7.2 million handle, down from $10.4 million; $463,462 win, up from $33,167)
- PointsBet ($7.0 million handle, down from $14.6 million; $747,400 win, down from $885,812)
- BetRivers ($6.9 million handle, even with June; $659,187 win, up from $600,924)
- TheScore ($3.4 million handle, down from $3.8 million; $73,512 win, down from $41,678)
- Unibet ($852,852 handle, down from $1.0 million; $80,444win, up from $53,947)
- WynnBet ($737,797 handle, down from $794,481; $109,614 win, down from $81,738)
- TwinSpires ($536,783 handle, up from $561,116; -$5,043 win, down from $80,162)
- BetWay ($30,859 handle, down from $55,218; -$1,059 win, down from -$25)
Hollywood Lawrenceburg, nearest to Cincinnati and one of the highest-volume retail sportsbooks in the U.S., led retail books in Indiana with $5.9 million in wagers, down from $9.0 million in June. Ameristar East Chicago was second with $3.04 million, narrowly topping $2.98 million at Indiana Grand and $2.7 million at Harrah’s Hoosier Park.
“Retail betting is still trying to bounce back to pre-pandemic levels, and news of a fresh surge in the pandemic is the latest challenge for the industry,” Russo said. “Online sportsbooks will continue to flourish in the state, but it’s apparently going to continue to be a hard road for the retail side.”
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Fennica Gaming has announced that it has been granted a gaming supplier license in Ontario, Canada. This milestone marks a significant step in the company’s expansion strategy, allowing it to offer its cutting-edge gaming experiences to gaming operators in one of North America’s most dynamic regulated markets.
The supplier license, granted by the Alcohol and Gaming Commission of Ontario (AGCO), enables Fennica Gaming to introduce its portfolio of entertaining and high-quality games to gaming operators across the province. This registration empowers Ontarian operators, whether online or land-based, to access the omnichannel offerings developed in the Nordics.
“We are thrilled to receive our B2B supplier license in Ontario and to offer our advanced gaming solutions to operators in the region. After a thorough application process, we can now proudly and prominently display our registration and achievement. We have followed the market in North America for a long time and Ontario is an excellent example of market that is well organized. It represents an exciting market with immense potential, and we are committed to delivering secure, entertaining, and trustworthy gaming experiences tailored to local preferences,” Timo Kiiskinen, Managing Director of Fennica Gaming, said.
Fennica Gaming’s Nordic gaming experience and heritage as an omni-channel gaming operator through its parent company Veikkaus offers a broad range of entertainment for Ontarian operators with a player-first attitude. This registration supports Fennica Gaming’s commitment to a sustainable industry, enabling operation in compliance with Ontario’s local regulatory framework.
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GeoComply, the global leader in geolocation security and fraud prevention, today announced the appointment of Kip Levin as its new Chief Executive Officer, effective Tuesday, March 4th. This strategic move reinforces GeoComply’s commitment to delivering cutting-edge solutions and driving success for its customers.
Kip Levin brings a wealth of experience to GeoComply, having served in various senior leadership roles at Flutter Entertainment over the past decade including CEO of the US business and President of FanDuel. Prior to that he spent 12 years at Ticketmaster where he led the product and ecommerce teams and oversaw the company’s expansion into mobile and resale. His proven track record in driving growth and innovation within dynamic, technology-driven markets positions him to enhance GeoComply’s ability to serve its customers.
This transition allows co-founder Anna Sainsbury to step into the role of Executive Chairman, where she will focus on strategic vision and governance, ensuring GeoComply continues to anticipate and meet the evolving needs of its customers. Co-founder David Briggs will shift his focus to Product and Innovation, leveraging his expertise to drive cutting-edge solutions as he moves from his previous role as CPTO.
“We are thrilled to welcome Kip Levin to GeoComply,” said Anna Sainsbury, Executive Chairman. “His extensive experience and strategic vision are perfectly aligned with our commitment to delivering exceptional value to our customers. I am confident that under his leadership, GeoComply will continue to innovate and expand its global footprint, ensuring we remain at the forefront of geolocation security and fraud prevention. This transition enables me to dedicate more time to our long-term strategic direction, focusing on how we can better serve our partners.”
Kip Levin expressed his enthusiasm for joining GeoComply, stating, “I am incredibly excited to join GeoComply, a company with a strong reputation for innovation and a commitment to customer success. The opportunities in this space are immense, and I look forward to working with Anna, David, and the entire GeoComply team to build on the company’s success and drive further growth for our clients. My experience in scaling businesses and driving product innovation will be instrumental as we navigate the evolving landscape of geolocation technology, ensuring we provide our customers with the most reliable and effective solutions.”
David Briggs, focusing on Product and Innovation, added, “With Kip joining us, I am eager to dedicate my full attention to driving innovation and developing groundbreaking solutions that directly address our customers’ challenges. This is an exciting time for GeoComply, and I am confident that our combined expertise will enable us to deliver even greater value to our clients, strengthening our partnerships.”
GeoComply is poised for continued success as it leverages Kip Levin’s leadership and the founders’ renewed focus on strategic vision and innovation. The company remains committed to providing its clients with the most reliable and advanced geolocation security and fraud prevention solutions, acting as a trusted partner in their success.
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BCLC has reminded the public to be cautious of a series of social media scams that imitate B.C. casinos and trick individuals into providing their financial details on illegitimate websites.
Highly deceptive, these scams share fraudulent posts and advertisements exploiting the logos, names, and exterior images of local B.C. casinos, and may claim to offer players exclusive bonuses and promotions if they register with their website or mobile application. BCLC warns that none of these sites are associated with casinos in B.C. or BCLC.
PlayNow.com is the only online gambling website permitted to operate in B.C. BCLC’s official apps are BCLC Lotto!, PlayNow Poker BC, and PlayNow BC Sportsbook. All BCLC-operated social media accounts, such as BCLC, PlayNow BC, PlayNow Sports, Lotto BC and Casinos BC, are verified with a checkmark.
While BCLC and its casino partners continue to work on having the posts removed, British Columbians should stay vigilant when it comes to these predatory and sophisticated scams.
To protect themselves, individuals are encouraged to:
• Be on alert when a website or app asks for personal or financial information. BCLC’s verified websites and apps will never ask for your social insurance number (SIN), banking information or credit card details online to claim a prize from a B.C. casino.
• Carefully check the URL and domain of the website to verify its legitimacy. Often, scammers will use a similar URL and domain to legitimate websites with a minor spelling difference.
• Always verify the company and its services are real before providing any personal information.
• Look out for other red flags, such as the suggestion of fees or taxes to be paid on a prize. There are no fees or taxes on prizes won in Canada.
If individuals feel unsure about an account, post or advertisement claiming to represent a B.C. casino, they can contact BCLC directly by calling the Customer Support Centre at 1-866-815-0222, or using the live chat resource on corporate.bclc.com or PlayNow.com.
The post BCLC Reminds Public to be Cautious of Illegal Online Casino Scams appeared first on Gaming and Gambling Industry in the Americas.
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