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MICHIGAN’S ONLINE SPORTS BETTING VOLUME SLUMPS TO LOWEST LEVEL SINCE LAUNCH
Michigan’s online sportsbooks fell to their lowest volume ever for a full month, dropping to less than $200 million for the first time since online sports betting launched in January. July’s wagering was still enough for sportsbooks to nearly reach $2 billion in lifetime online handle, while casino revenue ticked up and surpassed $500 million lifetime, according to PlayMichigan, which analyzes and researches the state’s regulated online gaming and sports betting market.
“Pursuits other than gaming are priorities for many in July, whether that is a trip to the lake or a backyard barbecue,” said Matt Schoch, analyst for PlayMichigan.com. “The good news for sportsbooks is that with the July dip now out of the way, operators can look forward to Michiganders returning from their summer vacations and for the excitement for the football season to build.”
Michigan’s online sportsbooks generated $188.0 million in bets in July, down 20% from $235.1 million in June, according to official data released Monday by the Michigan Gaming Control Board. Combined with $18.3 million in retail wagering in July, which was announced last week, Michigan’s online and retail sportsbooks accounted for $206.3 million in wagering. That total is down 20.5% from $259.4 million in bets in June.
That is the lowest volume recorded in a month since sportsbooks collected $150.8 million in January, when online betting first launched on Jan. 22. Still, Michigan’s online and retail sportsbooks have now accepted $1.99 billion in wagers since retail sportsbooks launched in March 2020.
Gross gaming revenue from online betting fell 21.6% to $19.6 million from $24.9 million in June, pushing the state’s combined win to $20.8 million for the month. After promotional credits, $12.4 million in taxable revenue remained from online bets, down from $16.8 million in June. July’s online revenue produced $1.1 million in state and local taxes.
Volume has remained low since April, part of an expected seasonal slowdown. But sportsbooks have countered the loss in wagering with a gain in hold percentage, which is the money the house keeps after paying out winning bets. The hold in July for online and retail sportsbooks was 10.1%, joining June as the only two full months with a percentage above 10% since online betting launched in Michigan in January.
“Bettors interact with summer sports like golf and even the Olympics differently by placing more futures and novelty bets, which win less frequently than a conventional single-game bet on football,” said Eric Ramsey, data analyst for the PlayUSA.com Network, which includes PlayMichigan.com. “For this reason, sportsbooks can bridge the slower betting months.”
The race for the online market lead drew closer in July. FanDuel led all online operators in July with $54.5 million in wagers, down from $77.3 million in June. FanDuel also topped Michigan operators with $7.8 million in gross sports betting revenue, down from $10.3 million in June.
DraftKings was second in the state with $53.4 million in wagers, down from $56.5 million in June. Gross gaming revenue fell to $3.1 million from $5.0 million in June. BetMGM was third with $41.0 million in wagers, down from $52.1 million in June. That produced $5.0 million in gross receipts, down from $6.1 million in June.
The online market leaders were followed by:
- Barstool ($13.6 million handle, down from $16.7 million in July; $1.4 million gross revenue, down from $1.8 million)
- PointsBet ($7.8 million handle, down from $10.2 million; $849,524 GGR, down from $911,170)
- William Hill/Caesars ($7.5 million handle, down from $7.9 million; $252,708 GGR, down from $598,641)
- Fox Bet ($2.7 million handle, down from $3.7 million; $252,873 GGR, down from $332,639)
- BetRivers ($2.6 million handle, up from $2.4 million; $224,089 GGR, up from $107,480)
- WynnBet ($2.3 million handle, down from $5.5 million; $357,718 GGR, up from -$383,777)
- TwinSpires ($1.0 million handle, down from $1.3 million; $138,911 GGR, down from $143,197)
- Golden Nugget ($623,977 handle, down from $914,393; $98,615 GGR, up from $83,855)
- FireKeepers ($367,354 handle, up from $656; $44,048 GGR, up from $299)
- Four Winds ($318,987 handle, down from $607,100; $35,979 GGR, up from -$18,782)
“The Olympics were never going to drive enough volume for operators to overcome a typically slow summer month, especially with the time-zone difference between Michigan and Tokyo,” Schoch said. “But the Olympics did offer an opportunity for sportsbooks to reach a new segment of customers that they wouldn’t have otherwise. That could pay dividends down the road.”
Online casinos and poker
Michigan’s online casinos and poker rooms combined to produce $92.3 million in gross gaming revenue, up 3.5% from $89.2 million in June. Casinos took in $3.0 million per day in wagers over the 31 days of July, a rate consistent with the $3.0 million per day in June. That revenue was enough to yield $17.1 million in state taxes and $6.4 million in local taxes.
Live dealer online casino games launched July 22 in Michigan, likely driving additional wagering later in the month. Since launching in January, online casinos and poker rooms have generated $575.4 million in revenue and $141.8 million in state and local taxes.
“Many of the same forces that slow sports betting in the summer, including summer vacations, also affect online casinos,” Ramsey said. “Michigan is still a young market that hasn’t yet reached maturity. The addition of live dealer games will make a difference going forward. And as the summer turns to fall, we should once again see the revenue at online casinos grow.”
Other highlights from July:
- BetMGM/MGM Grand Detroit continued to dominate the online casino and poker market with $33.8 million in gross gaming revenue, which yielded $8.9 million in state and local taxes.
- DraftKings/Bay Mills was second in the state with $15.2 million in gross receipts, producing $3.8 million in state and local taxes. FanDuel/Motor City was third with $14.4 million in gross receipts and $3.8 million in state and local taxes.
For more information and analysis on regulated sports betting in Michigan, visit PlayMichigan.com/news
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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.
The post Fennica Gaming Granted Supplier License for Ontario Market appeared first on Gaming and Gambling Industry in the Americas.
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.
The post GeoComply welcomes Kip Levin as CEO, driving customer-focused innovation and growth appeared first on Gaming and Gambling Industry in the Americas.
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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