Canada
PlayColorado.com: Sportsbooks reach $300 million in March to become sixth state to reach $2 billion in lifetime betting
March Madness helped Colorado sportsbooks take in more than $300 million in wagers, bouncing back from February’s decline to post the second-highest volume month in the state’s first year of sports betting. The month was enough to push lifetime handle in Colorado past $2 billion, becoming the sixth U.S. state to reach the milestone just 11 months after launching, according to analysts from PlayColorado, which tracks the state’s regulated online gaming and sports betting market.
“With the NCAA Tournament, a return to growth is no surprise, but it is still good to see after a bit of a relatively disappointing month,” said Ian St. Clair, analyst for PlayColorado. “Considering the circumstances Colorado launched under, at a time when major U.S. sports were dormant, the state really has been one the U.S. sports betting industry’s great success stories.”
Colorado’s online and retail sportsbooks accepted $300.1 million in bets in March, according to data released Tuesday by the Colorado Department of Revenue’s Division of Gaming. That was up 12.9% from $266.5 million in bets in February, though short of the record $326.9 million set in January. Bettors placed about $9.7 million bets per day in March, up from $9.5 million in February.
March’s bets led to $20.4 million in gross gaming revenue, nearly doubling the $10.4 million generated in February.
Eleven months after the launch of sports betting, Colorado sportsbooks have now taken in more than $2.1 billion in bets.
But as successful as Colorado’s launch of sports betting has been, the state’s tax revenue continues to lag. March’s bets yielded $10.6 million in net sports betting proceeds, after $9 million in promotional credits whittled down the month’s win. That produced $1.1 million in state taxes for the month, which was well above February’s $175,275.
Since launching, sportsbooks have injected $5.6 million into state coffers. Compare that to Indiana, Colorado’s closest competitor in terms of market size. In March alone, Indiana collected $2.5 million in state taxes on $316.7 million in bets.
“Those promotional credits have been a nagging issue that has really kept the state from realizing its full tax revenue potential,” said Jessica Welman, analyst for PlayColorado.com. “On the optimistic side, it could be just that it takes time to work through those credits from the heavy promotion in the state industry’s early days. But if tax revenue remains lackluster, the issue may need to be fixed.”
With the bulk of the NCAA Tournament in March, which included two Colorado games, college basketball betting jumped to $71 million in bets for the month, which was up from $39.6 million in February. But with the Denver Nuggets surging in March and Nikola Jokic MVP betting drawing significant interest, pro basketball remained the most popular bet with $106.9 million in bets.
The Stanley Cup favorite Colorado Avalanche have helped spike interest in hockey, too, growing to $13.8 million in March from $9.5 million in February, topping tennis ($10.9 million), soccer ($8.9 million) and even table tennis ($8.8 million), a uniquely Colorado favorite.
Of course, Colorado remains among the most unusual betting landscapes in the U.S. Not only does table tennis receive an atypical amount of interest, the summer rodeo season could also help drive some betting interest in the state.
“Most markets are locally driven, so when local teams do well, betting interest rises. But nowhere is that more pronounced than in Colorado,” St. Clair said. “Without a significant population from a neighboring state to draw bets from, Colorado’s market is more locally driven than most. But operators in the state continue to be innovative in the ways that they appeal to Colorado’s bettors.”
For more analysis on regulated sports betting in Colorado, visit PlayColorado.com/revenue.
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Bally Bet Sportsbook & Casino app
Bally’s Interactive Launches the New Bally Bet Sportsbook & Casino App in Ontario
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.
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.
“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.
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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