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New Jersey Sportsbooks Bring Good News With $165 Million in June Bets

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Futures betting and nontraditional sports helped New Jersey’s sportsbooks avoid an early summer lull in June, while online casinos and poker continued to lead the state’s gaming industry. June’s $165 million handle was good news, even if it still meant sportsbooks took in $300 million less in bets than an ordinary June, according to PlayNJ estimates. And with baseball and the NBA season set to open in late July, retail casinos reopening, and significant investments in online casinos and poker, better days are nearing for the Garden State’s gaming industry.

“June is typically slow for sports betting so any growth is a surprise, and it appears July will return the gaming industry to something more resembling normal,” said Dustin Gouker, lead analyst for PlayNJ.com. “New Jersey will still have longer-term issues. It will take time to recover, and the gaming industry will likely be affected for as long as the world is suffering from this health crisis. But for now, optimism in the industry is growing.”

New Jersey’s handle rose 40.1% to $165 million — all from online betting — from $117.8 million in May, according to official reporting released Tuesday. June 2020 was down 39.6% from $273.2 million in June 2019.

Gross revenue in June rose to $12.6 million from May’s $9.9 million and was actually more than the $9.7 million in revenue generated in June 2019. June’s revenue yielded  $1.7 million in state taxes.

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Sports categorized by New Jersey as “other” than football, basketball, and baseball generated a shocking $125.8 million in bets in June, up from $95.4 million in May. And bets on the three major U.S. sports ticked up, mainly on the power of futures betting on baseball and the NBA ahead of an expected July return of both.

“The robust betting on nontraditional sports since the sports world has shuttered has been a surprise, but it will never completely make up for the loss of major sports,” said Eric Ramsey, an analyst for PlayNJ.com. “Futures will continue to gain steam, fueled by pent-up demand, as the opening of baseball, basketball, and hockey nears. If plans continue to move forward, July and August should produce a significant leap.”

With Atlantic City casinos closed in June, online sportsbooks were again the only revenue generator for the state. FanDuel Sportsbook/PointsBet led the market with $6.2 million in gross revenue, up from $4.3 million in May. FanDuel was followed in revenue by:

  • Resorts Digital/DraftKings/Fox Bet ($3.9 million, up from $3.8 million in May)
  • BetMGM/Borgata ($881,435, up from $701,283)
  • Ocean Casino/William Hill ($691,135, up from $439,967)
  • Monmouth/William Hill/Sugarhouse/TheScore ($593,548, up from $466,142)
  • Hard Rock/Bet365/Unibet ($450,589, up from $230,004)
  • Caesars Sportsbook/888sport ($43,561, down from $107,171)
  • Tropicana/William Hill ($5,245, down from $23,476)
  • Golden Nugget/BetAmerica ($66,533, up from $54,433)

“As strong as online sports betting continues to be, the reopening of Atlantic City is crucial to healing the industry, even with restrictions,” Gouker said. “It will help generate new revenue, of course. And in doing so, operators are hopeful that it will help the industry steady itself.”

Online casinos and poker level off

The rapid growth of online casinos and poker cooled in June, combining to generate $84.9 million in revenue, down 1.2% from the record $85.9 million in May but up 123.1% from $38.1 million in May 2019. Together, online casinos and poker generated $2.8 million a day in the 30 days of June — on par with May — and yielded $12.8 million in state taxes.

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Online casino games alone have grown revenue from $50.2 million in February to $81.4 million in June. Online poker has jumped from $1.8 million in February to $3.5 million in June.

Even with retail casinos reopening, many remain bullish on the future of online gambling. Golden Nugget Online Gaming, which dominated the market again in June with $29.15 million in revenue, announced plans to go public. And last week, MGM Resorts/GVC Holdings released its plan to invest $250 million more in its online platform.

“The Golden Nugget Online Gaming going public, in addition to the recent success of DraftKings stock, shows just how much interest investors have in the future of online gambling,” Gouker said. “Online gambling has proven its importance to the industry through this crisis. Even if the growth slows with the return of retail casinos, it will continue to be an enormously important vertical for the industry.”

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Bally Bet Sportsbook & Casino app

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

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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.

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BCLC

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

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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.

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“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.
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AGCO

Jackpot Digital Receives Approval from AGCO as a Registered Gaming Supplier

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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.

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