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PlayColorado.com: Record $327 million in January puts sportsbooks on path to $3 billion

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Colorado crossed another impressive threshold in January, becoming the sixth state in U.S. history to take in more than $300 million in legal sports bets in a single month. The record-setting start to 2021 offers a strong hint for what is to come this year for Colorado’s retail and online sportsbooks, which has the potential to take in more than $3 billion in wagers this year, according to PlayColorado.com, which provides news and analysis of the state’s gaming industry.

“What’s really stuck out is just how relentless Colorado’s growth has been,” said Jessica Welman, analyst for PlayColorado.com. “Every month we get new data. Every month sportsbooks set a new state record. There has been no letup regardless of what has happened with sports schedules during this pandemic. Growth is the rule in just about every legal jurisdiction, but none have had such a long, consistent upward trajectory.”

Colorado’s online and retail sportsbooks generated a record $326.9 million in bets in January, according to data released Thursday by the Colorado Department of Revenue’s Division of Gaming. That was up 14.9% from $284.6 million in December. In every month since Colorado launched sports betting in May 2020 the state has set a fresh handle record.

Gross gaming revenue, which has not grown quite as consistently, set a fresh record in January. Sportsbooks won $22.7 million, up from $17.2 million in December and topping the previous record of $18.4 million set in November. January’s gross gaming revenue yielded $11.7 million in net sports betting proceeds, up from $5.7 million in November. That produced $1.2 million in state taxes in December.

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The opening month of 2021, in addition to the $31.2 million handle sportsbooks generated on the Super Bowl, could be the beginning of a year that could bring in $3 billion in wagering, $200 million in gross gaming revenue, and more than $6 million in state tax revenue, according to PlayColorado projections.

“With a tax rate on sports betting that is lower than in most legal states, Colorado is counting on market growth to get to a point where it is a reliable revenue generator for the state,” said Ian St. Clair, analyst for PlayColorado.com. “That growth is coming more quickly than was projected last May, when we didn’t even know when major sports would return.”

Currently the sixth-largest market in terms of handle — behind No. 5 Indiana, which generated $348.2 million in January — no state has evolved quite like Colorado. For one, an abundance of home-grown tech talent has made the state appealing to operators such as PointsBet, which has set up its North American headquarters in downtown Denver. But more noticeably, Colorado’s interests have set the market apart.

Like any legal jurisdiction, the NFL playoffs drew major interest in January, generating $75 million in bets on pro football. But the NBA, which enjoyed its first full month of the 2020-21 season, fueled $88.4 million on pro basketball. And college basketball generated another $39.9 million. And continued interest in sports outside the mainstream, most notably table tennis, has made Colorado unique among U.S. markets. With $11.8 million in January bets, table tennis has now generated $78.3 million in bets since May 1.

“To put the popularity of table tennis into perspective, it accounts for a similar percentage of Colorado’s handle as hockey does in most other states,” Welman said. “In no other state is there a relatively obscure sport that commands so much attention. Amazingly, it continues to be an important piece to the success of the state’s industry, and there is no sense yet that interest is waning.”

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For more information and analysis on regulated sports betting in Colorado, visit PlayColorado.com/revenue.

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British Columbia Lottery Corporation

SCCG Management Signs Contract with British Columbia Lottery Corporation

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SCCG Management has signed a contract with the British Columbia Lottery Corporation (BCLC), the B.C. Crown corporation which conducts and manages commercial gambling in the province, including lotteries, casinos, and online gaming. This partnership aims to undertake a comprehensive assessment and strategic enhancement of BCLC’s diverse operations.

The work between SCCG and BCLC will involve a thorough review of technological infrastructures, strategic market positioning, and the integration of various gaming modalities. SCCG’s extensive expertise will be pivotal in harmonizing BCLC’s online and physical gaming experiences.

Stephen Crystal, Founder and CEO of SCCG Management, said: “Our collaboration with BCLC represents a remarkable opportunity to push the boundaries of innovation within the gaming industry. We are committed to deploying our resources and expertise to enhance BCLC’s operational efficiencies and customer engagement strategies. It’s an honor to partner with an organization that has a robust impact on the community through its support of public initiatives.”

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AGCO

AGCO Requires Ontario Gaming Operators to Stop Offering WBA Bets Due to Integrity Concerns

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The Alcohol and Gaming Commission of Ontario (AGCO) has mandated all Ontario-registered sportsbook operators to halt offering and accepting wagers on World Boxing Association (WBA) events immediately. This measure is being taken to protect the Ontario betting public following concerns that WBA-sanctioned boxing matches are not adequately being safeguarded against match-fixing and insider betting.

Since December 2023, the AGCO has been conducting a comprehensive review of suspicious wagering activity on a WBA-sanctioned title fight between Yoenis Tellez and Livan Navarro that was held in Orlando, Florida. Suspicious betting patterns on the bout lasting over 5.5 rounds were reported to the AGCO by two registered independent integrity monitors and detected in Ontario by a registered igaming operator. Media reports also alleged that Tellez’s Manager placed $110,000 on the match lasting longer than 5.5 rounds at a Florida casino. The bout ended with Tellez knocking out Navarro in the 10th round.

Following an intensive review that included outreach to the WBA, Ontario-registered gaming operators, independent integrity monitors, and regulators in other jurisdictions, the AGCO has concluded that bets related to WBA events do not currently meet the Registrar’s Standards for Internet Gaming.

The AGCO requires all Ontario-registered gaming operators to ensure the sport betting products they offer are on events that are effectively supervised by a sport governing body. At a minimum, the sport governing body must have and enforce codes of conduct that prohibit betting by insiders.

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Registered gaming operators were unable to demonstrate to the AGCO that the WBA prohibits betting from insiders, which could include an athlete’s coaches, managers, handlers, athletic trainers, medical professionals, or others with access to non-public information. Further, registered gaming operators were unable to demonstrate that the WBA took any action to investigate or enforce the allegations of potential match-fixing and insider wagering.

The AGCO has indicated to registered operators that in order for WBA betting products to be reinstated in Ontario, operators must demonstrate that the WBA effectively supervises its events, thus bringing them into compliance with the Registrar’s Standards. In December 2022, the AGCO required gaming operators to stop offering bets on UFC events for similar issues related to insider betting safeguards. Within a month, UFC amended its policies and implemented new protocols that allowed the AGCO to reinstate betting on UFC events in the province.

“Ontarians who wish to bet on sporting events need to be confident that those events are fairly run, and that clear integrity safeguards are in place and enforced by an effective sport governing body. Knowing the popularity of boxing in Ontario, we look forward to reinstating betting on WBA events once appropriate safeguards against possible match-fixing and insider betting have been confirmed,” Dr. Karin Schnarr, Registrar and CEO of AGCO, said.

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Andrew Cochrane Chief Business Officer of GiG

GiG increases Ontario market presence, powering the launch of Casino Time

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Gaming Innovation Group Inc. (GiG), has announced the launch of Casino Time, powered by its award winning iGaming platform and pioneering real-time rules engine LogicX, with revolutionary sportsbook, SportX soon to follow, to further extend its footprint in the regulated Canadian province of Ontario.

The launch of Casino Time carries extra significance, marking only the second time that on-demand, regulated online Bingo has been made available in Ontario. The new Bingo product vertical, launched alongside a strong Casino offering, will be boosted by GiG’s new sportsbook, SportX, as part of a planned release later this year.

GiG has focused its solutions on driving exponential growth in revenue for operators with its highly scalable iGaming platform, offering localised third party content and leading suppliers for the Ontarian market. GiGs peerless gamification layer creates an optimised and immersive casino experience tailored to regional preferences, swelling client retention and player engagement.

Canadian owned and operated, Casino Time is a joint venture amongst leading retail operators in Ontario’s Charitable Gaming sector, delivering Bingo, Slots and Live Dealer Casino Games. Promising a personalised service and community experience, Casino Time is continuing its long-standing partnership with local charities, introducing its joint fundraising model into the iGaming space for the first time.

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Now coming towards the end of its second year of licensed operations, Ontario has emerged as one of the largest iGaming markets in North America, second only to New Jersey according to data supplied by Vixio. The first and as yet only Canadian province to launch a regulated market, Ontario boasts more than 1.6 million active player accounts spread over 40 plus operators, generating €1.3 billion in Gross Gaming Revenue (GGR) in its first year of trading, with this data supplied by iGaming Ontario.

Andrew Cochrane, Chief Business Officer of GiG, said: GiG continues to set the pace with a strong cadence of brand launches in 2024, and I’m pleased that when operators are seeking platform solutions in regulated markets, GiG is leading the pack. Our partnership with Casino Time, will help deliver something new and exciting to the Ontarian market, and further helps to demonstrate the flexibility of our solutions, adapting to match the regional aspirations of our partners to deliver growth.

D’Arcy Stuart, CEO of Casino Time, said: “We are thrilled to partner with GiG as the core technology provider of our iGaming platform. Their powerful suite of player engagement tools, as well as diverse content and regulatory integrations, underpin our ability to serve and delight our player community. Our hybrid online and offline customer network, as well as unique bingo offerings, will drive exciting opportunities as the platform and the marketplace continues to grow.”

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