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PlayIA.com: Sportsbooks set new highs for revenue, wagering in November

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Iowa sportsbooks set records for wagering and revenue, generating nearly $20 million in revenue on nearly $290 million in bets in November. After another high, Iowa is now a strong December away from reaching $2 billion in betting for the year, according to PlayIA, a leading source for news and analysis of the Iowa gaming market.

“The expansion in betting in Iowa over the last three months has set a new floor for the industry,” said Eric Ramsey, an analyst for the PlayUSA.com Network, which includes PlayIA.com. “Operators have used the popularity of football to not only attract new customers, but also to expose existing bettors to more diverse forms of betting. The growth this fall will benefit state sportsbooks for the months and years to come.” 

Iowa’s online and retail sportsbooks generated $287.2 million in wagers in November, up 229.5% from $87.2 million in November 2020, according to official data released Friday afternoon. November’s handle was up 2.3% from the record $280.9 million wagered in October, a month boosted by five weekends of football. Bettors averaged $9.6 million per day during the 30 days of the month, topping October’s $9.1 million per day.

Revenue rose 142.5% to $19.7 million in November from $8.1 million in November 2020 and 201.2% from $6.6 million in October. The previous record was $13.5 million, set in March. November’s gains yielded a record $2.1 million in tax revenue for the state.

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The last three months represent the three highest monthly handles in state history. Through the first 11 months of this year, Iowa sportsbooks have generated:

  • $1.8 billion in wagering, including $778.6 million over the last three months.
  • $101.1 million in revenue, including $32.0 million over the last three months.
  • $7.8 million in taxes, including $3.1 million over the last three months.

“The removal of in-person registration requirements for online sportsbooks at the beginning of the year was obviously a watershed moment for the state,” said Russ Mitchell, lead analyst for PlayIA.com. “But the growth of the last three months has been on another level.”

$260.4 million, or 90.6%, of November’s bets were made online, producing $16.8 million in revenue. Meanwhile, retail betting generated $26.9 million in wagers, creating $2.9 million in net receipts.

Caesars once again topped the online market with $104.0 million in wagers, yielding $4.7 million in revenue. DraftKings was second with $75.1 million in online wagering, producing $4.2 million in net receipts. Barstool Sports, which launched on Nov. 2, generated $770,576 in revenue on $9.7 million in bets.

Diamond Jo Worth led the retail market with $6.7 in bets, yielding $2.3 million in revenue. Ameristar Council Bluffs was second with $5.6 million in wagers, which led to $1.8 million in net receipts.

Football has been the main driver of growth for the last three months. But the NBA continues to be a popular bet, and the opening of the college basketball season in November helped boost sportsbooks.

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“Football is driving record growth this fall, not just in Iowa but all over the country,” Mitchell said. “But with four Division I basketball programs, Iowa’s sportsbooks have an opportunity to grow some more this winter, especially if Iowa and Iowa State continue to play well.”

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Canada

Play’n GO announces partnership with Canadian operator Loto-Québec

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Play’n GO, the world’s leading casino entertainment provider, has today announced a partnership with Canadian operator Loto-Québec, launching the Swedish gaming giant’s games into another Canadian province.

Already active in another Canadian province , this partnership sees Play’n GO’s content available in the province of Québec exclusively with Loto-Québec, a state-owned corporation, where online players now have access to titles such as Tome of Madness. 

Magnus Olsson, Chief Commercial Officer, Play’n GO said: “At Play’n GO, we have always been clear in our vision to be active in every regulated market in the world, and this partnership with Loto-Québec is the next step on that journey.

“Our past success in Canada gives us confidence that players in Québec will enjoy the best Play’n GO content, and we look forward to many years of success with Loto-Québec in the province.”

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Stéphane Martel, Head of Product and Innovation at Loto-Québec added: “As the sole iGaming operator in Québec, we pride ourselves on offering titles that truly add value to our platform, lotoquebec.com. We are happy to bring Play’n GO games to our players.”

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Canada

Court Decision Upholds iGaming Ontario’s Model

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iGaming Ontario has welcomed the decision of the Ontario Superior Court, which found that iGaming Ontario’s model is consistent with the Criminal Code and that iGaming Ontario is conducting and managing igaming in the province.

“We have always been confident in our model and are pleased that the court has ruled in our favour, and that Ontarians can continue to play with confidence in our regulated igaming market,” said Martha Otton, Executive Director of iGaming Ontario.

“Ontario’s model meets the requirements and contributes to the public good by protecting players, their data and their funds, while helping to fund priority public services in Ontario, and bringing well-paid, high-tech jobs and economic development to Ontario,” Otton added.

In dismissing the application brought forward by the Mohawk Council of Kahnawà:ke (MCK), the Superior Court found that iGaming Ontario is the “operating mind” behind Ontario’s competitive igaming market in accordance with the conduct and manage requirements of the Criminal Code.

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iGaming Ontario will continue to conduct and manage igaming as it has since the launch of the regulated market on April 4, 2022.

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Bragg Gaming Group

Bragg Gaming Appoints Renowned iGaming Executive Neill Whyte as Chief Commercial Officer

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Bragg Gaming Group, a global iGaming technology and content provider, announced that Neill Whyte has been appointed as Chief Commercial Officer (CCO), effective 1st May 2024, establishing a new global commercial structure at the Company and bolstering its leadership team.

Whyte brings over 18 years of experience in the iGaming sector, most recently in the role of Chief Commercial Officer at Digital Gaming Corporation’s (DGC), B2B iGaming Division. After joining DGC in early 2020, he was responsible for the commercially successful launch and growth of its content distribution business in the US.

Prior to joining DGC, Whyte held multiple positions in the gaming industry including as Head of Business Development at Isle of Man-based iGaming specialist Apricot Investments, as Board Member at Swedish iGaming product and Lottery content distributor Genera Networks, and in various senior roles over eleven years at leading iGaming content supplier Microgaming, including as Head of Product Channels.

In his new role with Bragg, Whyte will be tasked with leading the Company’s global commercial teams to drive growth across all of the Company’s product verticals which include proprietary online casino content from its Atomic Slot Lab, Indigo Magic and Wild Streak Gaming studios, exclusive content from content partners, HUB a leading casino content aggregation platform, Fuze player engagement, as well as its award-winning player account management (PAM) platform and turnkey solutions.

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Matevž Mazij, Chief Executive Officer at Bragg, said: “I am very pleased to be announcing today the appointment of Neill Whyte as Chief Commercial Officer at Bragg. His iGaming product and market knowledge, together with his record in driving growth from developing successful and mutually beneficial commercial partnerships are exceptional.

“As we leverage our broad content and product portfolio to grow in existing and new markets, including in the United States, Canada, Latin America and Europe, Neill’s unique combination of knowledge, skills and experience in this sector are a perfect fit for our ambitions at Bragg.”

Neill Whyte, Chief Commercial Officer at Bragg, said: “It’s an honor to join Matevž and the wider teams at Bragg already in place across North America, Europe and in India. I have been impressed with the depth and quality of the content, product and technology offerings at Bragg, and its ability to rapidly adapt, certify and deploy this content and technology in newly regulated markets is a distinct advantage.

“We also have a huge opportunity to grow our footprint with our existing customers in markets in which we are already established. Our content and product roadmaps are second to none, and I’m planning to get on the road in the coming weeks and months to meet the team and our customers and to start building for the next stage of mutual growth. I can’t wait to get going.”

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