Canada
PlayColorado.com: Betting volume grows ahead of fall surge
Colorado’s sportsbooks used interest in baseball, early-season college football, and NFL futures betting to fuel the first month-over-month gain in betting volume since May. The boost to nearly $212 million in wagering in August also made Colorado just the sixth state to haul in more than $3 billion in lifetime bets, according to PlayColorado, which tracks the state’s regulated sports betting market.
“It’s encouraging to see a bump ahead of the most important four-month stretch of the year,” said Ian St. Clair, analyst for PlayColorado.com. “A mere taste of football in August showed its importance to sportsbooks. But what we saw last month is just a precursor for what we expect for the final four months of the year, which should bring an onslaught of fresh records.”
Colorado’s online and retail sportsbooks accepted $211.9 million in wagers in August, $208.3 million of which came through online operators, according to data released Monday by the Colorado Division of Gaming. Year-over-year, betting volume in August was up 64.7% from $128.6 million in August 2020 and up 16.9% from $181.3 million in July.
Gross gaming revenue hit $15.2 million in August. That is up 102.5% from $7.5 million in August 2020, though down 2.7% from $15.7 million in July. After promotional credits, net sports betting proceeds in August landed at $7.1 million, which yielded $726,365 in tax revenue.
August’s results brought a slew of fresh milestones, including surpassing $3 billion in lifetime wagering. Since launching in May 2020, Colorado’s sportsbooks have generated:
$3.2 billion in wagering, including $2.0 billion so far in 2021
$213.1 million in gross gaming revenue, including $137.3 million in 2021
$117.4 million in free bets
$95.7 million in taxable revenue
$10.2 million in state taxes
“Colorado is remarkably consistent, and continues to outperform the size of its population base,” said Eric Ramsey, analyst for the PlayUSA.com network, which includes PlayColorado.com. “With even a decent football season, sportsbooks will reach $3 billion in wagers and $200 million in revenue for the year. Those would be impressive annual totals for a state that is still maturing as a sports betting market.”
With a flurry of fresh launches ahead of football season, including well-known brands like Barstool and the Sports Illustrated Sportsbook, Colorado is now home to more online operators than any other state with 26.
One of the intriguing aspects of Colorado’s market for operators is the wide range of sporting interests of its bettors. In August, baseball was again the most popular sport to bet on with $69.6 million in bets in August, up from $59.9 million in July. Tennis ($13.5 million), soccer ($11.5 million), basketball ($10.6 million), and table tennis ($8.1 million) all drew significant wagering in August, too.
But like every U.S. market, football is still king in Colorado. With a light inventory of games to bet on, including three Broncos preseason games, pro football drew $13.6 million in wagering, up from just $586,203 in July. College football attracted an additional $2.6 million. And the growth over the next four months will be substantial. In 2020, a year marred by the shutdown of major sports for months, 60.2% of the money wagered legally in the U.S. was placed from September through December. In 2019, 50.8% of all legal wagers were made during the last four months of the year.
“The difference between a great football season and a merely very good fall for sportsbooks may come down to how local teams fare,” said St. Clair. “If there is a concern for operators it is that Colorado, Colorado State, and Air Force each had significant missteps to open the season, which could dampen some enthusiasm. But the Broncos’ hot start will likely more than make up for that. If the Broncos can continue to play well, it could really drive sports betting to new heights.”
For more information and analysis on regulated sports betting in Colorado, visit PlayColorado.com/revenue.
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BetConstruct
BetConstruct Becomes the First iGaming Company to Offer Both B2B and B2C Licenses in Canada through Affiliate Entity
BetConstruct, a global pioneer in iGaming and sports betting solutions, has announced a significant milestone in the gaming industry. Through its affiliate entity, BetConstruct has become the first iGaming company authorized to facilitate the issuance of both Business-to-Business (B2B) and Business-to-Consumer (B2C) licenses. This remarkable achievement was made possible by obtaining a direct license authorization from the Tobique First Nation in Canada.
The Tobique First Nation, renowned for its innovative and forward-thinking regulatory approach, has entrusted BetConstruct’s affiliate entity with the authority to oversee applications and facilitate the issuance of licenses from its jurisdiction. This partnership underscores shared values of innovation, transparency, and a commitment to responsible gaming practices.
This historic development places BetConstruct at the forefront of the Canadian iGaming market, redefining the opportunities available to gaming operators. By leveraging its affiliate entity’s licensing capabilities, BetConstruct empowers businesses to navigate a streamlined and transparent regulatory environment, unlocking new opportunities for growth and innovation.
“At BetConstruct, we’ve always strived to push the boundaries of what’s possible in iGaming. This landmark achievement with the Tobique First Nation reflects our unwavering dedication to creating opportunities for our partners while upholding the highest standards of responsibility and integrity in gaming,” said Vigen Badalyan, Co-Founder of BetConstruct.
The issuance of dual licenses under the watchful eye of BetConstruct’s affiliate not only highlights BetConstruct’s commitment to supporting its partners but also reinforces the company’s role as a trusted leader in the global iGaming landscape.
This milestone signals a new era for regulated iGaming, as BetConstruct takes bold steps to establish a robust ecosystem for operators and consumers alike. With its direct license authorization from the Tobique First Nation, BetConstruct is setting a new standard for innovation, consumer protection, and sustainable growth in Canada and beyond.
The post BetConstruct Becomes the First iGaming Company to Offer Both B2B and B2C Licenses in Canada through Affiliate Entity appeared first on Gaming and Gambling Industry in the Americas.
Canada
Great Canadian Entertainment and Petroglyph Development Group Announce Closing of the Acquisition of Casino Nanaimo and Elements Casino Victoria
Great Canadian Entertainment and Petroglyph Development Group Ltd. announced that PDG has closed the previously announced acquisitions of Casino Nanaimo and Elements Casino Victoria from Great Canadian, in historic transactions for both parties. PDG is a wholly owned corporation of Snuneymuxw First Nation (the “Nation”) and is dedicated to realizing the economic potential of the Nation.
The transactions, originally announced on June 24, 2024, for Casino Nanaimo and September 10, 2024, for Elements Casino Victoria, have received all required approvals from the regulatory authorities.
“We are thrilled to have completed these transactions. An incredible amount of work has been undertaken by our corporate team, our on-site teams at both properties, and PDG to achieve this successful closing. I am grateful for their efforts, as well as everyone at the B.C. Lottery Corporation and the Gaming Policy Enforcement Branch, who were thoughtful, diligent, and thorough in facilitating these closings,” said Matt Anfinson, Chief Executive Officer of Great Canadian.
“We look forward to working closely with PDG during the transition period to support the continued successful operation of Casino Nanaimo and Elements Casino Victoria,” Anfinson added.
“We celebrate the closing of our two casino acquisitions and our continued progress toward building a strong Snuneymuxw economy. For decades, Snuneymuxw leadership has worked tirelessly toward this moment, recognizing the connection between a strong economy, self-determination, and the foundation of nationhood. Today, we honour the achievements of those who came before us by securing businesses that will strengthen our Nation for generations to come. Thank you to the PDG and Great Canadian teams for your exceptional work. We look forward to a rewarding partnership with the B.C. Lottery Corporation, driving economic growth for the Nation and Province,” said Chief Mike Wyse.
Erralyn Joseph, President of PDG, said: “This measured acquisition marks an important milestone for PDG as we continue growing a corporate enterprise that reinvests directly into the prosperity of our Nation. With a strong operating plan focused on risk mitigation and yielding sizable returns, PDG continues to generate sustainable wealth for Snuneymuxw. With every step we are realizing our socio-economic potential and influence at a local, national, and global level. On behalf of the Board of Directors, we are pleased to share this news and remain committed to advancing economic growth in support of all residents connected to Snuneymuxw territory.”
“Acquiring these assets marks a pivotal shift for Snuneymuxw and Vancouver Island. This transition will fuel the Island’s economy, strengthening the Snuneymuxw Nation and ensuring the benefits stay local,” said Ian Simpson, Chief Executive Officer of PDG.
The post Great Canadian Entertainment and Petroglyph Development Group Announce Closing of the Acquisition of Casino Nanaimo and Elements Casino Victoria appeared first on Gaming and Gambling Industry in the Americas.
Canada
Ottawa Black Bears Announce Partnership Deal with PowerPlay
The Ottawa Black Bears announced an extensive partnership agreement with PowerPlay Online Sportsbook and Casino that will see the company’s logo featured on the club’s home and away jerseys.
In addition to the jersey partnership, PowerPlay will also have branding elements inside the goal crease, behind the bench, on the LED display ring, and along the rinkboards for Black Bears home games at Canadian Tire Centre. As part of the deal, PowerPlay also becomes the exclusive sportsbook and online casino partner for the Ottawa Black Bears.
“We are thrilled to have PowerPlay on board for our inaugural season with such a comprehensive partnership agreement. Their investment with the Black Bears represents a foundational agreement for our lacrosse club. And we’re proud to wear their logo alongside ours as we launch our franchise,” said Chelsea McDermott, Vice President of Business Operations for the Ottawa Black Bears.
“We are excited to bring PowerPlay’s bold, community-driven spirit to Ottawa-Gatineau, partnering with the Black Bears as they establish themselves as a force in lacrosse. This partnership celebrates a sport deeply tied to Canada’s heritage and competitive energy. Together, we’ll ignite passion, energize fans, and deliver excitement all season long,” said Thomas Vermeulen, Marketing Director for PowerPlay.
The post Ottawa Black Bears Announce Partnership Deal with PowerPlay appeared first on Gaming and Gambling Industry in the Americas.
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