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PlayNJ.com: More records fall as sportsbooks handle $1.3 billion in October

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New Jersey’s online and retail sportsbooks set another U.S. record by handling $1.3 billion in wagers in October, which led to record revenue, too. Meanwhile, online casinos posted another record month, which made New Jersey along with Pennsylvania the first states to generate $1 billion in annual gross revenue from online casino betting, according to PlayNJ, which tracks gaming developments in the state.

“Five weekends in October meant an unusual amount of NFL and college football to bet on, and plenty of free time for gamblers to visit Atlantic City, making fresh records inevitable,” said David Danzis, an analyst for PlayNJ.com. “But what will have a longer-lasting effect is if the market for sports betting and online gambling continues to expand while Atlantic City continues to recover following the pandemic. That combination is producing some jaw-dropping results.”

New Jersey’s online and retail sportsbooks drew $1.3 billion in bets in October, easily topping September’s record handle of $1.01 billion by 28.9%, according to official reporting released Wednesday. October’s betting volume was up 62.3% from the $803.1 million generated in October 2020.

The high betting volume led to a new record in gross gaming revenue, too. Sportsbooks won $84.2 million in October, up 43.8% from $58.5 million in October 2020 and up 2.1% from $82.4 million in September. October’s revenue topped the previous record of $82.6 million set in January and yielded $12.7 million in state taxes. 

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Five full weekends of NFL and college football were a boon for sportsbooks, boosting football betting to $499.0 million in October from $400.8 million in September. The start of the NBA season helped pour another $156.9 million into sportsbooks from basketball and baseball’s postseason ($127.1 million) and spurred significant action, too.

“With so much to bet on in October, state records for wagering are falling in every major legal sports betting market in the U.S.,” said Eric Ramsey, an analyst for the PlayUSA.com Network, which includes PlayNJ.com. “New Jersey separates itself because bettor enthusiasm for the NBA outstrips most every other market, which pushes its ceiling during a month like October to heights that were once unreachable in the U.S.”

Online sportsbooks took in $1.2 billion in wagers, accounting for 90.5% of the state’s handle in October. FanDuel/PointsBet/SuperBook continued their dominance of the online market with $39.6 million in gross revenue, up from $36.6 million in September. 

The leaders were followed in revenue by:

  • Resorts Digital/DraftKings/Fox Bet ($15.9 million, up from $13.2 million in September)
  • Borgata/BetMGM ($7.8 million, down from $10.8 million)
  • Freehold/Barstool/PlayUp ($6.8 million, up from $4.1 million)
  • Monmouth/Caesars/SugarHouse/TheScore ($3.1 million, up from $1.8 million)
  • Tropicana/Caesars ($2.1 million, down from $3.0 million)
  • Hard Rock/Bet365/Unibet ($917,007, down from $1.6 million)
  • Caesars Sportsbook/888sport/WynnBet ($446,124, up from -$568,675)
  • Ocean Casino/Caesars/Tipico ($284,834, down from $653,322)
  • Golden Nugget/BetAmerica/Betway ($54,659, up from -$70,405)

Retail sportsbooks set a record, too, with $124.2 million in October, up from $92.7 million in wagers in September. Meadowlands/FanDuel led the retail market with $4.5 million in revenue.

“More than just a growing base of bettors, online sportsbooks are expanding their reach with in-game betting and prop bets,” Ramsey said. “The result is that bettors are placing more wagers as they become more comfortable with that kind of action.”

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Online casinos and poker

New Jersey joined Pennsylvania as the first U.S. states to take in more than $1 billion in gross gaming revenue from online casinos and poker rooms in a single year with a record $127.0 million in October. That topped the previous record of $122.6 million set just last month, and was up 35.9% from $93.5 million in October 2020.

Online casinos and poker rooms have now generated $1.1 billion in revenue for the year, easily reaching $1 billion in annual revenue for the first time. Pennsylvania ($1.05 billion) also went over the $1 billion mark for the year after announcing its October gaming data on Wednesday.

“The rise in revenue in all forms shows that each pillar of the state’s gaming industry is benefiting from a rising tide,” Danzis said. “Online gambling has continued to grow since launch, but annual revenue has more than tripled since sports betting launched in 2018. As impressive as $1.1 billion in revenue in 10 months is, it might not have gotten there so soon without the legalization of online sports betting.”

Other highlights from October’s report:

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  • Online casinos and poker generated $4.1 million in revenue per day over the 31 days of October, up from $3.0 million per day in October 2020, though down from $4.2 million per day in September.
  • The revenue from online casinos and poker rooms yielded $19.05 million in state and local taxes.
  • Borgata/BetMGM led the market with $38.8 million in casino and poker revenue in October. Rival Golden Nugget was second with $34.5 million in revenue. Resorts Atlantic City was third with $29.3 million.
  • Online casino games generated $124.6 million of October’s revenue, up 37.0% from $90.9 million in October 2020. Online poker generated the remaining $2.4 million in revenue, down 3.4% from $2.5 million in October 2020.
For more information and analysis on regulated gaming industry, visit PlayNJ.com/news.
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British Columbia Lottery Corporation

SCCG Management Signs Contract with British Columbia Lottery Corporation

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SCCG Management has signed a contract with the British Columbia Lottery Corporation (BCLC), the B.C. Crown corporation which conducts and manages commercial gambling in the province, including lotteries, casinos, and online gaming. This partnership aims to undertake a comprehensive assessment and strategic enhancement of BCLC’s diverse operations.

The work between SCCG and BCLC will involve a thorough review of technological infrastructures, strategic market positioning, and the integration of various gaming modalities. SCCG’s extensive expertise will be pivotal in harmonizing BCLC’s online and physical gaming experiences.

Stephen Crystal, Founder and CEO of SCCG Management, said: “Our collaboration with BCLC represents a remarkable opportunity to push the boundaries of innovation within the gaming industry. We are committed to deploying our resources and expertise to enhance BCLC’s operational efficiencies and customer engagement strategies. It’s an honor to partner with an organization that has a robust impact on the community through its support of public initiatives.”

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AGCO

AGCO Requires Ontario Gaming Operators to Stop Offering WBA Bets Due to Integrity Concerns

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The Alcohol and Gaming Commission of Ontario (AGCO) has mandated all Ontario-registered sportsbook operators to halt offering and accepting wagers on World Boxing Association (WBA) events immediately. This measure is being taken to protect the Ontario betting public following concerns that WBA-sanctioned boxing matches are not adequately being safeguarded against match-fixing and insider betting.

Since December 2023, the AGCO has been conducting a comprehensive review of suspicious wagering activity on a WBA-sanctioned title fight between Yoenis Tellez and Livan Navarro that was held in Orlando, Florida. Suspicious betting patterns on the bout lasting over 5.5 rounds were reported to the AGCO by two registered independent integrity monitors and detected in Ontario by a registered igaming operator. Media reports also alleged that Tellez’s Manager placed $110,000 on the match lasting longer than 5.5 rounds at a Florida casino. The bout ended with Tellez knocking out Navarro in the 10th round.

Following an intensive review that included outreach to the WBA, Ontario-registered gaming operators, independent integrity monitors, and regulators in other jurisdictions, the AGCO has concluded that bets related to WBA events do not currently meet the Registrar’s Standards for Internet Gaming.

The AGCO requires all Ontario-registered gaming operators to ensure the sport betting products they offer are on events that are effectively supervised by a sport governing body. At a minimum, the sport governing body must have and enforce codes of conduct that prohibit betting by insiders.

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Registered gaming operators were unable to demonstrate to the AGCO that the WBA prohibits betting from insiders, which could include an athlete’s coaches, managers, handlers, athletic trainers, medical professionals, or others with access to non-public information. Further, registered gaming operators were unable to demonstrate that the WBA took any action to investigate or enforce the allegations of potential match-fixing and insider wagering.

The AGCO has indicated to registered operators that in order for WBA betting products to be reinstated in Ontario, operators must demonstrate that the WBA effectively supervises its events, thus bringing them into compliance with the Registrar’s Standards. In December 2022, the AGCO required gaming operators to stop offering bets on UFC events for similar issues related to insider betting safeguards. Within a month, UFC amended its policies and implemented new protocols that allowed the AGCO to reinstate betting on UFC events in the province.

“Ontarians who wish to bet on sporting events need to be confident that those events are fairly run, and that clear integrity safeguards are in place and enforced by an effective sport governing body. Knowing the popularity of boxing in Ontario, we look forward to reinstating betting on WBA events once appropriate safeguards against possible match-fixing and insider betting have been confirmed,” Dr. Karin Schnarr, Registrar and CEO of AGCO, said.

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Andrew Cochrane Chief Business Officer of GiG

GiG increases Ontario market presence, powering the launch of Casino Time

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Gaming Innovation Group Inc. (GiG), has announced the launch of Casino Time, powered by its award winning iGaming platform and pioneering real-time rules engine LogicX, with revolutionary sportsbook, SportX soon to follow, to further extend its footprint in the regulated Canadian province of Ontario.

The launch of Casino Time carries extra significance, marking only the second time that on-demand, regulated online Bingo has been made available in Ontario. The new Bingo product vertical, launched alongside a strong Casino offering, will be boosted by GiG’s new sportsbook, SportX, as part of a planned release later this year.

GiG has focused its solutions on driving exponential growth in revenue for operators with its highly scalable iGaming platform, offering localised third party content and leading suppliers for the Ontarian market. GiGs peerless gamification layer creates an optimised and immersive casino experience tailored to regional preferences, swelling client retention and player engagement.

Canadian owned and operated, Casino Time is a joint venture amongst leading retail operators in Ontario’s Charitable Gaming sector, delivering Bingo, Slots and Live Dealer Casino Games. Promising a personalised service and community experience, Casino Time is continuing its long-standing partnership with local charities, introducing its joint fundraising model into the iGaming space for the first time.

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Now coming towards the end of its second year of licensed operations, Ontario has emerged as one of the largest iGaming markets in North America, second only to New Jersey according to data supplied by Vixio. The first and as yet only Canadian province to launch a regulated market, Ontario boasts more than 1.6 million active player accounts spread over 40 plus operators, generating €1.3 billion in Gross Gaming Revenue (GGR) in its first year of trading, with this data supplied by iGaming Ontario.

Andrew Cochrane, Chief Business Officer of GiG, said: GiG continues to set the pace with a strong cadence of brand launches in 2024, and I’m pleased that when operators are seeking platform solutions in regulated markets, GiG is leading the pack. Our partnership with Casino Time, will help deliver something new and exciting to the Ontarian market, and further helps to demonstrate the flexibility of our solutions, adapting to match the regional aspirations of our partners to deliver growth.

D’Arcy Stuart, CEO of Casino Time, said: “We are thrilled to partner with GiG as the core technology provider of our iGaming platform. Their powerful suite of player engagement tools, as well as diverse content and regulatory integrations, underpin our ability to serve and delight our player community. Our hybrid online and offline customer network, as well as unique bingo offerings, will drive exciting opportunities as the platform and the marketplace continues to grow.”

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