Canada
PlayPennsylvania.com: Sports betting expectedly slows in April
Sports betting in Pennsylvania slowed to its lowest level since September 2020, an expected drop with a sports calendar absent the NFL or a major betting holiday such as the NCAA Tournament, according to PlayPennsylvania, which analyzes and researches the state’s regulated online gaming and sports betting market. Meanwhile, online casinos and poker continued their yearlong surge.
“Sports betting is following normal seasonal patterns seen in almost every legal jurisdiction, so it might be until September that the state’s sportsbooks begin to challenge the state record books again,” said Dustin Gouker, analyst for PlayPennsylvania.com. “With the Olympics and the NBA Playoffs later than usual this year, this will still be a summer that is better than a typical year. And that could be especially so if Sixers make a deep run into July.”
Pennsylvania’s online and retail sportsbooks accepted $479.4 million in wagers in April, according to official data released Tuesday, snapping a streak of four consecutive months above $500 million in wagers. April’s volume was down 14.4% from $560.3 million in March and the lowest since sportsbooks generated $462.8 million in September. Still, handle was up dramatically over the $46 million in bets taken in April 2020, the first full month sportsbooks were affected by pandemic-related shutdowns and the statistical low.
Sportsbooks won $36 million in gross gaming revenue of April’s wagering, up 1,025.1% from $3.2 million in April 2020 though down 13.9% from $41 million in March. April’s receipts produced $26.3 million in taxable revenue, yielding $8.9 million in state taxes and $525,930 in local share assessment.
Local interest in the playoff runs of the Philadelphia 76ers and Pittsburgh Penguins, coupled with the start of the Philadelphia Phillies and Pittsburgh Pirates seasons, actually helped shallow the seasonal lull for Pennsylvania. Colorado (-18%), Indiana (-25.4%), Iowa (-26.7%), and Michigan (-30.5%) all experienced more dramatic month-over-month declines in April, while New Jersey (-13%) and Tennessee (-13.6%) were slightly better.
“Local teams performing well, such as the Sixers and Penguins, are always a powerful incentive for bettors in any state,” said Valerie Cross, analyst for PlayPennsylvania.com. “In the case of Pennsylvania, it was a key difference between meeting expectations and falling short in April.”
Online sports betting accounted for $439.1 million of April’s handle, or 91.6%, down from 91.8% in March. FanDuel/Valley Forge led online operators again with $167.6 million in online wagering, down from $202.8 million in March. Those bets led to $13.75 million in gross revenue, up slightly from $13.72 million in March, and $11.1 million in taxable revenue. DraftKings/The Meadows was a distant second with $105.7 million in bets, down from $116.6 million in February. That action created $6.4 million in gross revenue, down from $7.7 million in March, and $5.4 million in taxable revenue.
Handle from the Barstool-branded Penn National/Hollywood Casino app fell to $57.2 million in April, down from $65.2 million in March and the third consecutive monthly decline. Those bets yielded $2.6 million in gross revenue, down from $6.2 million in March.
The online leaders were followed by:
BetMGM/Hollywood Morgantown ($33 million handle, down from $37.4 million; $2.5 million in gross revenue, down from $3.1 million)
BetRivers/Rivers-Pittsburgh ($18.8 million handle, down from $24.8 million; $1.8 million revenue, down from $2.3 million)
Fox Bet/Mount Airy ($15.2 million handle, down from $17.5 million; $1.1 million revenue, down from $1.3 million)
Parx Casino ($14.2 million handle, down from $18.7 million; $1.7 million revenue, up from $1.4 million)
PlaySugarHouse/Rivers-Philadelphia ($13.4 million handle, down from $17.2 million; $995,423 in revenue, down from $1.1 million)
Unibet/Mohegan Sun Pocono ($7.2 million handle, down from $10.2 million; $436,595 revenue, down from $620,357)
Betfred/Wind Creek ($2.7 million handle, up from $2.2 million; $49,074 revenue, down from $152,563)
Caesars/Harrah’s ($2.1 million handle, down from $1.7 million; -$75,375 revenue, down from $144,858)
TwinSpires/Presque Isle ($2.1 million handle, down from $1.4 million; $33,622 revenue, down from $436,828)
Meanwhile, as restrictions on brick-and-mortar casinos loosened, including the return of drink service on April 4, retail sportsbooks generated $40.3 million in handle in April. That was down from $45.9 million in March. April’s action produced $4.8 million in gross revenue, while Rivers-Philadelphia topped the retail market with $7.7 million in bets, just ahead of Parx Casino’s $5.3 million.
The entirety of the state’s gross gaming revenue — including online and retail sports betting and online and retail casinos — reached $404.1 million in April, the second consecutive month of total gaming revenue surpassed $400 million.
“Retail betting, whether casino games or sports betting, continues to inch toward normal, while the gains in online revenues made over the last year continue to hold,” Cross said. “That has created an overall gaming market that easily surpasses pre-pandemic level, even if retail betting is not quite where it was.”
Online casinos and poker
With $105.5 million in gross revenue and $92.7 million in taxable revenue in April, Pennsylvania’s online and retail sports showed more dramatic year-over-year growth. Taxable was up 115.2% from $43.1 million in April 2020 even as it fell short of the record $97.7 million set in March.
Online casino wagering hit $3.2 billion in April, up 128.6% from $1.4 billion in April 2020. And with new operators coming online, including BetMGM/Hollywood Casino earlier this year and late-April’s online launch of Borgata/Rivers Philadelphia, that growth shows few signs of stopping.
“Online casinos continue to thrive, even as retail casinos operate under few restraints and competition among online operators heats up,” Cross said. “New operators joining the mix shows there is still a belief that the online casino market in Pennsylvania has not yet reached its peak.”
Other highlights from April:
April’s revenue produced $25.5 million in state taxes and another $13.1 million in local share assessments and county grants.
Online casino and poker rooms generated $3.1 million per day in taxable revenue over the 30 days of April, down from the record of $3.2 million per day set in March.
Penn National, which includes the DraftKings, BetMGM, and Hollywood casinos, topped the market with $36 million in revenue on $1.2 billion in wagers. Rivers-Philadelphia, which includes PlaySugarHouse and BetRivers casinos, was second with $26.6 million in revenue on $846.7 million in wagers.
Revenue at Mount Airy/PokerStars, which was the lone online poker operator in the state, hit $2.3 million. While newly launched online poker rooms BetMGM, under the Hollywood Casino Grantville license, and Borgata, under the Rivers Philadelphia license, combined to generate $27,071 in the two days each operated in April.
For more information on the revenue generated by Pennsylvania, visit www.playpennsylvania.com/revenue.
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Canada
Gaming Corps goes live with OLG iCasino in Ontario
Gaming Corps has launched its casino game portfolio with Ontario Lottery and Gaming Corporation (OLG) in Ontario, bringing a selection of the Swedish studio’s titles to OLG’s digital casino audience.
The rollout includes football-themed games timed to the summer football calendar. Titles going live with OLG include Goals to Glory: Football Fever, Penalty Champion: Goals to Glory, and Goals to Glory: Instant Blitz, part of Gaming Corps’ Instant Blitz series.
OLG is a provincial crown agency that has operated in Ontario since 1975, with responsibilities spanning land-based gaming facilities, province-wide lottery games, internet gaming, bingo, and electronic gaming products at Charitable Gaming Centres.
Graham Greensmith, Chief Commercial Officer at Gaming Corps, said: “Launching with OLG gives Gaming Corps outstanding visibility in one of the most exciting regulated markets in North America. The timing could not be better. As global football moves into focus, we are bringing OLG a fantastic line-up that speaks directly to the moment, while also introducing some of our most recognisable titles, mechanics and characters.”
Ian Shelswell, Director, iCasino Product, Partnerships & Development at OLG, added: “OLG is always looking to bring high-quality content to our players, and Gaming Corps’ portfolio adds further variety to our iCasino offering at an exciting time in the sporting calendar. The combination of football-themed releases, instant win content, recognisable slot franchises and engaging game mechanics makes this a strong addition to our casino catalogue. We are pleased to welcome Gaming Corps to OLG and look forward to developing the partnership.”
The post Gaming Corps goes live with OLG iCasino in Ontario appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Alex Cuoci
Wealthsimple and Kalshi Partner to Bring Prediction Markets to Canada
Wealthsimple announced the release of Wealthsimple Predict, providing retail investors the ability to trade event contracts on Kalshi. The standalone application is scheduled to launch this summer. Through the app, users will have access to approximately 4000 Kalshi event-based contracts in categories Wealthsimple is authorized to offer in the Canadian market, specifically climate, financial markets, and economic indicators.
“Prediction markets are the fastest-growing segment of global financial markets, letting traders turn an opinion into a position on the factors that shape our world – where inflation is headed, what happens to rates, or how the year unfolds. Until now, Canadians have had limited access. Wealthsimple Predict gives Canadians a clean, well-designed way to access these markets, with education and guardrails built in from day one,” said Brett Huneycutt, co-founder and Chief Product Officer, Wealthsimple.
“Kalshi was founded on a simple belief: views on the future should have markets, and those markets should be available to everyone. That’s why we’re partnering with Wealthsimple, Canada’s leading financial innovator – to give everyday investors in Canada access to fair, secure, and regulated prediction markets,” said Alex Cuoci, Kalshi.
In March, the Canadian Investment Regulatory Organization (CIRO) authorized Wealthsimple to offer event and forecast contract trading, also known as prediction markets. These contracts are regulated as futures contracts (derivatives). The approval covers contracts with a 30-day settlement period or longer, within the categories of economic indicators, financial markets, and climate. Wealthsimple is the second investment dealer to receive regulatory approval from CIRO for prediction markets.
To access trading through Wealthsimple Predict, new clients must complete a standard Know Your Client (KYC) process. Education is built into every stage of the experience, including a guided orientation of a client’s first trade. The app also shows users key disclosures and definitions, including trading risk reminders, contract resolution information, notices that positions can be sold at any time, and liquidity risk warnings on lower-activity markets. Wealthsimple Predict will only be available to Canadian residents.
Kalshi is authorized to operate in the US as an event contracts exchange, with federal authority from the Commodity Futures Trading Commission (CFTC), the regulatory authority for the U.S. derivatives market. Prediction markets follow the same regulatory framework applied to other financial assets traded in the US, such as equities, bonds, and traditional derivatives, with clear rules for price formation, settlement, and governance.
The post Wealthsimple and Kalshi Partner to Bring Prediction Markets to Canada appeared first on Americas iGaming & Sports Betting News.
Alberta
MediaTroopers lines up eight operator partners ahead of Alberta launch
MediaTroopers said it is preparing to launch in Alberta’s regulated gaming market on July 13, as Canada’s next regulated commercial gaming market opens.
The digital marketing and customer acquisition firm said it plans to enter Alberta alongside eight “premium operator” clients, which it said are also preparing for their own market entries. MediaTroopers did not name the operators.
The company said its Alberta offering will mirror its work in Ontario, including localized acquisition strategies, compliance-focused marketing, regional player education, and market-tailored performance campaigns.
MediaTroopers also said it has seen “strong interest” from Alberta players through pre-registration activity, without providing figures.
“Alberta represents an exciting next step for regulated iGaming in Canada, and Media Troopers is ready to support operators from day one,” said Shmulik Segal, CEO of Media Troopers. “Our experience in Ontario has given us a strong understanding of what it takes to enter a new Canadian market successfully, from compliance and localization to scalable player acquisition. With eight of our premium clients already preparing for launch and early pre-registration traction underway, we see Alberta as a market with tremendous potential.”
The post MediaTroopers lines up eight operator partners ahead of Alberta launch appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
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