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PlayColorado.com: Sportsbooks suffer first month-over-month decline in wagering

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Colorado’s sports betting industry suffered its first month-over-month decline in wagering to put the state in line with a nationwide trend of falling handles, a product of February’s 28 days and the conclusion of the NFL season, according to PlayColorado, which provides news and analysis of the state’s gaming industry.

“February is a reminder that with the seasonality of sports betting, growth is never assured even in a market like Colorado” said Jessica Welman, analyst for PlayColorado. “In nearly every legal betting market, a pullback from January was expected mainly because there is nowhere near the NFL inventory of games to bet on, even with the Super Bowl. Colorado is a unique market in many ways, but ultimately it is still subject to the same sports betting dynamics as any other state.”

Colorado’s online and retail sportsbooks combined to take in $266.5 million in bets in February, according to data released Monday by the Colorado Department of Revenue’s Division of Gaming. Overall handle was down 18.5% from $326.9 million in bets in January, and the lowest monthly handle since November’s $231.2 million. Bettors placed about $9.5 million bets per day in February, down from $10.5 million in January.

Sportsbooks generated $10.4 million in gross gaming revenue, down from the record $23.1 million in January, and yielding just $175,275 in net sports betting proceeds, down from $11.7 million in January. That produced just $332,227 in state taxes.

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February marks the first time since Colorado launched sports betting in May that sportsbooks failed to set a new monthly handle record for the state. Retail in particular had a rough month, generating just $7.5 million in bets. 96.9% of all bets, or $258.2 million, were made online.

Colorado is the seventh-largest market in the U.S., falling just short of Indiana’s $273.9 million. Michigan, in its first full month of sports betting, topped both states with more than $325 million in online and retail betting.

“The month-over-month growth streak was bound to be snapped, but the underlying fundamentals of the market remain strong,” said Ian St. Clair, analyst for PlayColorado. “Retail sportsbooks continue to struggle amid the pandemic, but hopefully they will rebound as we move closer to normal.”

For the second-straight month, pro basketball betting eclipsed football with $95 million in wagers, by far the most-popular bet even with the Super Bowl being played in early February. With just one game to bet on, even if it was the Super Bowl, football betting fell to $39.6 million. And table tennis ($13 million) once again drew more action than more mainstream sports like ice hockey ($9.5 million).

College basketball took in $24.2 million, which wasn’t surprising. But sportsbooks lost $3.7 million on those bets.

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“Colorado’s market continues to evolve in unforeseen ways, and it goes beyond the continued popularity of table tennis,” St. Clair said. “For February, Colorado bettors did extremely well on betting on college basketball, winning almost $4 million on the sport. That is unusual for what is typically the calm before March’s college basketball storm ”

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

About the PlayUSA.com Network:

The PlayUSA.com Network is a leading source for news, analysis, and research related to the market for regulated online gaming in the United States. With a presence in over a dozen states, PlayUSA.com and its state-focused branches (including PlayColorado.com, PlayIndiana.com, and PlayNJ.com) produce daily original reporting, publish in-depth research, and offer player advocacy tools related to the advancement of safe, licensed, and legal online gaming options for consumers. Based in Las Vegas, the PlayUSA Network is independently owned and operated, with no affiliations to any casino — commercial, tribal, online, or otherwise.

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Canada

GeoComply welcomes Kip Levin as CEO, driving customer-focused innovation and growth

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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.”

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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.

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BCLC Reminds Public to be Cautious of Illegal Online Casino Scams

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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.

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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.

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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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Betty

Wyzia Renews Canadian Partnership With Betty

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Wyzia, the pioneering Canadian online payment solutions provider for regulated markets, is celebrating the renewal of its highly successful ongoing partnership with Betty, Ontario’s premier online slots casino.

This partnership, which began in 2023, is key to Wyzia’s expansion across North America. It supports players of Betty, an online casino catering to female players whose business is supported by Wyzia’s innovative, secure, and robust payment management solutions.

Wyzia is at the forefront of Canada’s fintech landscape, pioneering seamless online payment solutions for regulated markets. Its innovative platform connects merchants directly to all Canadian financial institutions, simplifying transactions and empowering businesses with reliable, efficient financial tools.

“We’re thrilled to celebrate a year of working with Betty with the renewal of our agreement,” said Guy Fietz, Group CEO at Wyzia. “Our collaboration has not only expanded our reach but enhanced the payment experience for Betty’s growing community of players.

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“We look forward to continuing this successful collaboration and driving further innovation in the online gaming industry.”

Betty is the only platform created specifically for Ontario slot players. In 2024, Betty has enjoyed unprecedented growth, with a tenfold increase in net revenue since January and over 1000% growth in active players across Ontario.

By fostering a fun, safe, and supportive environment, Betty has harnessed the power of the female gaming audience to create a unique online casino experience. Betty focuses on transparency, community-based play, and gamification of the traditional slot experience.

This player-focused model has allowed Betty to stand out from other services, resulting in phenomenal growth and the ability to retain female players at a rate three times higher than their male counterparts.

Additionally, Betty automatically processes 99% of withdrawals, so players quickly receive their funds, a crucial benefit for online slot players.

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“Our partnership with Wyzia has been instrumental in providing our players with a seamless, fast, and secure payment experience,” said Chavdar Dimitrov, Founder and CEO at Betty. “We are excited about the growth we’ve achieved together and are committed to delivering even better services to our community in the future.”

The post Wyzia Renews Canadian Partnership With Betty appeared first on Gaming and Gambling Industry in the Americas.

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