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Newly regulated US states to outperform established markets in 2022 predicts BonusFinder.com research
Bonus Index forecasts New York, Maryland and North Carolina will oust Arizona, Indiana and Colorado from top 10 highest performing states – key drivers are larger populations, more competitive markets and bonuses
The combined effect of large populations, liberal licensing and resulting high bonuses of newly regulating states including New York, Maryland and North Carolina, will see them break into the top 10 highest performing US markets in 2022, the latest BonusFinder.com Bonus Index is predicting.
The success of these new states, including New York – that will become the number one state for US sports betting despite one of the country’s highest tax rates – will mean established US markets including Arizona, Indiana and Colorado will lose their grip on the top 10 despite several setting revenue records at the end of 2021.
Bonusfinder.com predicts average welcome offers in New York of $1,500 with a low of $550 and a high of $5,000. See chart below.
The ‘old’ guard will buck this trend, however, with New Jersey, Pennsylvania and Michigan, three of the first states to regulate both online sports betting and iGaming, predicted to hold onto their top five places in the Bonus Index in 2022.
The Index found that their large player volumes, openness to multiple licences, high bonuses and permitting both online betting and casino games means they are predicted to continue rapid year-on-year growth.
The biggest story of 2022, however, will be further north with betting and gaming brands flocking to newly regulating Ontario, Canada with BonusFinder.com predicting the province will instantly become the most attractive iGaming market in North America for both players and brands, surpassing all its US online counterparts when it goes live in Q1 2022.
New Jersey has recently revealed a record monthly turnover of $1.3 billion in bets taken in October, however Ontario is expected to outstrip this in its first month with a population double the size of the East coast state.
Once regulated Ontario will become North America’s most important online casino and sports betting market. The Bonus Index predicts that a combination of its 15 million population, with a strong volume of sportsbook and casino players, and an estimated 70+ brands looking to acquire a licence when the market goes live means that brands will be entering a highly competitive market and battling for players by offering the continent’s most appealing casino bonus of $866 and an estimated sportsbook bonus of $395.
The Bonusfinder.com Bonus Index measures a wide variety of factors across all current and future regulated sports betting states and provinces across the US and Canada. This includes population, number of licences and licensees, betting volume and average bonus offerings across all licensed brands to calculate an overall Free Bet index score.
Fintan Costello, Managing Director, BonusFinder.com, said: “While the larger established US states will continue to play a crucial role in stateside growth in 2022 our Index shows that newly regulating markets such as New York and Maryland will outmuscle many others due to their large player volume potential and highly competitive markets and bonuses which many simply don’t have right now.
“They will be the benchmark for other emerging and existing states, but nothing will compare to Ontario which is going to explode when regulated early next year. It’s already a booming market pre-regulation but we fully expect it to significantly outperform any US state by some distance and for brands to race to the border to secure a significant piece of the action.”
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Bonus Index shows Canadian province will overtake all online casino regulated US states to become most consumer friendly and commercially lucrative territory with large population, highly competitive market and high bonuses
The post-regulated province of Ontario, Canada, will become the most attractive iGaming market in North America for both players and brands, surpassing all its US online counterparts when it goes live in Q1 2022, according to Bonusfinder.com’s latest Bonus Index results.
Once regulated in early 2022 Ontario will become North America’s most important online casino and sports betting market. The Bonus Index predicts that a combination of its 15 million population, with a strong volume of sportsbook and casino players, and an estimated 70+ brands looking to acquire a licence when the market goes live means that brands will be entering a highly competitive market and battling for players by offering the continent’s most appealing casino bonus of $866 and an estimated sportsbook bonus of $395.
Ontario has a Bonus Index score of 23377, nearly twice as high as New Jersey, its nearest US state rival and second in the Bonusfinder.com list (see table below).
New Jersey has recently revealed a record monthly turnover of $1.3 billion in bets taken in October, however Ontario is expected to outstrip this in its first month with a population double the size of the East coast state.
Earlier this month the Bonus Index predicted New York would become the number one state for US sports betting despite one of the highest tax rates applied to its nine licensed operators.
Bonusfinder.com has predicted average welcome offers in New York of $1,500 with a low of $550 and a high of $5,000 according to Bonusfinder.com calculations.
The Bonusfinder.com Bonus Index measures a wide variety of factors across all current and future regulated sports betting states and provinces across the US and Canada. This includes population, number of licences and licensees, betting volume and average bonus offerings across all licensed brands to calculate an overall Free Bet index score.
Fintan Costello, Managing Director, BonusFinder.com, said: “Our research shows the formula for success for any state or province is a high population, highly competitive market, sizable player volumes and high bonus offers.
“Allowing more licences and more competition encourages all operators to try harder and this is far better for consumers with consistently attractive bonuses and more reasons to play and enjoy playing.
“Our Bonus Index accurately plots and tracks how successful every North American state and province is month-on-month across sports betting and casino and Ontario will blow everyone out of the water as soon as it’s given the greenlight in early 2022. New Jersey, although second on our list and punching above its weight, will look like it’s spitting out loose change from a slot machine compared to what we’re about to see from Canada’s largest province.”
“It may have six million fewer people than states such as New York but its large number of licences across both sportsbook and casino will see it become North America’s largest gaming and betting market.”
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Bonus Index finds combination of 20m population, competitive market, high bonuses and sizeable player volumes will offset tough tax regime to benefit industry and consumers
New York will become the US sports betting market’s most lucrative and consumer friendly state despite one of the highest tax rates on nine newly licensed operators, according to BonusFinder.com‘s new Bonus Index.
The new Bonus Index, launched just 24 hours after New York’s regulator announced its winning licensees, measures a wide variety of factors across all current and future regulated sports betting states. This includes population, number of licences and licensees, betting volume and average bonus offerings across all licensed brands to calculate an overall Free Bet index score.
New York will become the number one state for US sports betting due to its 20 million population, competitive market with nine licensees, sizable player volumes and predicted high bonus offers.
This formula for success is expected to offset some of its 51% operator tax to create a booming market both for brands and consumers with strong competition between operators. This will result in higher bonus offers for players including a predicted average welcome offer of $1,500 with a low of $550 and a high of $5,000 according to Bonusfinder.com calculations.
Fintan Costello, Managing Director, BonusFinder.com, said: “The Bonus Index is able to accurately plot and track how successful every North American state sports betting and casino market is month on month and has uncovered some fascinating data.
“New York is one of the US sports betting market’s crown jewels and its launch is a moment in time the industry has been waiting for, a large state with millions of passionate sports fans and bettors. Even allowing for the high tax rate the convenience for consumers and the number of licenses issued means operators will be competing hard for customer accounts. This means they will be presented with some of the country’s most competitive bonuses.
“Looking ahead we have high hopes for North Carolina and Maryland who are considering a large number of licenses which will create a competitive market and overtake states such as Michigan and Arizona, but while New York is exciting, our Index shows that Ontario Canada will blow it out of the water.
“It may have six million fewer people but its large number of licences across both sportsbook and casino will see it become North America’s largest gaming and betting market.”
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Top affiliate site BonusFinder.com has been given a licence to operate in the US state of Virginia, complementing its suite of licences for the country’s other regulated states which includes New Jersey, West Virginia, and Illinois.
BonusFinder.com Managing Director Fintan Costello celebrated the new approval, saying: “This increases BonusFinder.com’s reach into regulated US markets and we cannot wait to bring the best deals and bonuses for sports betting to players in Virginia.”
Presently there are five sports betting providers licensed in the state: Betfair, Draft Kings, BetMGM, Rivers Casino Portsmouth, and Caesars Virginia. Twelve licences are ultimately available, so the market is anticipated to grow, plus a further five to be allocated to the state’s newly-approved bricks-and-mortar casinos.
Despite the state enjoying a population of over 8.5m people, land-based casino gambling has arrived quite late, with the first of five casinos scheduled to open in 2022.
Virginia’s Sports Betting Vendor licence is the first of its kind to be done entirely by online application.
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