Canada

MICHIGAN’S ONLINE SPORTS BETTING VOLUME SLUMPS TO LOWEST LEVEL SINCE LAUNCH

Published

3 years ago

August 17, 2021

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

Canada

Play’n GO announces partnership with Canadian operator Loto-Québec

Published

2 days ago

May 16, 2024

GamingAmericas.com

play’n-go-announces-partnership-with-canadian-operator-loto-quebec

Play’n GO, the world’s leading casino entertainment provider, has today announced a partnership with Canadian operator Loto-Québec, launching the Swedish gaming giant’s games into another Canadian province.

Already active in another Canadian province , this partnership sees Play’n GO’s content available in the province of Québec exclusively with Loto-Québec, a state-owned corporation, where online players now have access to titles such as Tome of Madness.

Magnus Olsson, Chief Commercial Officer, Play’n GO said: “At Play’n GO, we have always been clear in our vision to be active in every regulated market in the world, and this partnership with Loto-Québec is the next step on that journey.

“Our past success in Canada gives us confidence that players in Québec will enjoy the best Play’n GO content, and we look forward to many years of success with Loto-Québec in the province.”

Stéphane Martel, Head of Product and Innovation at Loto-Québec added: “As the sole iGaming operator in Québec, we pride ourselves on offering titles that truly add value to our platform, lotoquebec.com. We are happy to bring Play’n GO games to our players.”

Canada

Court Decision Upholds iGaming Ontario’s Model

Published

3 days ago

May 15, 2024

GamingAmericas.com

court-decision-upholds-igaming-ontario’s-model

iGaming Ontario has welcomed the decision of the Ontario Superior Court, which found that iGaming Ontario’s model is consistent with the Criminal Code and that iGaming Ontario is conducting and managing igaming in the province.

“We have always been confident in our model and are pleased that the court has ruled in our favour, and that Ontarians can continue to play with confidence in our regulated igaming market,” said Martha Otton, Executive Director of iGaming Ontario.

“Ontario’s model meets the requirements and contributes to the public good by protecting players, their data and their funds, while helping to fund priority public services in Ontario, and bringing well-paid, high-tech jobs and economic development to Ontario,” Otton added.

In dismissing the application brought forward by the Mohawk Council of Kahnawà:ke (MCK), the Superior Court found that iGaming Ontario is the “operating mind” behind Ontario’s competitive igaming market in accordance with the conduct and manage requirements of the Criminal Code.

iGaming Ontario will continue to conduct and manage igaming as it has since the launch of the regulated market on April 4, 2022.

Bragg Gaming Group

Bragg Gaming Appoints Renowned iGaming Executive Neill Whyte as Chief Commercial Officer

Published

1 week ago

May 10, 2024

GamingAmericas.com

bragg-gaming-appoints-renowned-igaming-executive-neill-whyte-as-chief-commercial-officer

Bragg Gaming Group, a global iGaming technology and content provider, announced that Neill Whyte has been appointed as Chief Commercial Officer (CCO), effective 1st May 2024, establishing a new global commercial structure at the Company and bolstering its leadership team.

Whyte brings over 18 years of experience in the iGaming sector, most recently in the role of Chief Commercial Officer at Digital Gaming Corporation’s (DGC), B2B iGaming Division. After joining DGC in early 2020, he was responsible for the commercially successful launch and growth of its content distribution business in the US.

Prior to joining DGC, Whyte held multiple positions in the gaming industry including as Head of Business Development at Isle of Man-based iGaming specialist Apricot Investments, as Board Member at Swedish iGaming product and Lottery content distributor Genera Networks, and in various senior roles over eleven years at leading iGaming content supplier Microgaming, including as Head of Product Channels.

In his new role with Bragg, Whyte will be tasked with leading the Company’s global commercial teams to drive growth across all of the Company’s product verticals which include proprietary online casino content from its Atomic Slot Lab, Indigo Magic and Wild Streak Gaming studios, exclusive content from content partners, HUB a leading casino content aggregation platform, Fuze player engagement, as well as its award-winning player account management (PAM) platform and turnkey solutions.

Matevž Mazij, Chief Executive Officer at Bragg, said: “I am very pleased to be announcing today the appointment of Neill Whyte as Chief Commercial Officer at Bragg. His iGaming product and market knowledge, together with his record in driving growth from developing successful and mutually beneficial commercial partnerships are exceptional.

“As we leverage our broad content and product portfolio to grow in existing and new markets, including in the United States, Canada, Latin America and Europe, Neill’s unique combination of knowledge, skills and experience in this sector are a perfect fit for our ambitions at Bragg.”

Neill Whyte, Chief Commercial Officer at Bragg, said: “It’s an honor to join Matevž and the wider teams at Bragg already in place across North America, Europe and in India. I have been impressed with the depth and quality of the content, product and technology offerings at Bragg, and its ability to rapidly adapt, certify and deploy this content and technology in newly regulated markets is a distinct advantage.

“We also have a huge opportunity to grow our footprint with our existing customers in markets in which we are already established. Our content and product roadmaps are second to none, and I’m planning to get on the road in the coming weeks and months to meet the team and our customers and to start building for the next stage of mutual growth. I can’t wait to get going.”