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PlayNJ.com: New Jersey sportsbooks nearly hit $1 billion in December; set U.S. annual handle record

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New Jersey fell just short in December of becoming the first state to accept $1 billion in sports bets in a single month, but still extended a streak of record-setting months while reaching a record $6 billion in wagers for the year. This while online casinos and poker set a new high, again helping to stem the millions in revenues losses by struggling Atlantic City casinos, according to PlayNJ, which offers news and analysis of the state’s gaming industry.

“A unique set of circumstances, most notably a once-a-century pandemic, sent online sports betting to these previously unfathomable highs,” said Dustin Gouker, lead analyst for PlayNJ.com. “The pandemic has had a diametrically opposite effect on New Jersey’s online and retail markets for both sports betting and casino games. But the growth of online betting was crucial in making up for at least some of the losses in revenue at Atlantic City casinos and certainly continue to steady the entire gaming industry.”

In December, New Jersey’s sportsbooks collected a record $996.3 million in wagers, according to official data released Wednesday. That surpassed the record $931 million bet in November, and marked the fifth straight month the state has set an all-jurisdiction record. Since August, sportsbooks have amassed $4.1 billion in bets.

December’s bets generated a record $66.4 million in revenue. Year-over-year, handle was up 78.6% from the $557.8 million bet in December 2019 and revenue was up 125.6% from $29.4 million in December 2019. December’s bets produced $8.3 million in state taxes.

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For all of 2020, New Jersey’s retail and online sportsbooks produced:

  •  $6.02 billion in bets — a record for any legal jurisdiction despite major U.S. sports being shut down for four months —and up 31.3% from $4.6 billion in 2019.
  • $5.5 billion in online wagering, up 44.2% from $3.8 billion in 2019.
  • $398.5 million in operator revenue, up 33.1% from $299.3 million in 2019.
  • $50.1 million in state taxes and $15 million in local taxes.

“Even when post-pandemic life returns to normal, online sports betting won’t likely give up its gains from this year,” said Eric Ramsey, analyst for PlayNJ.com. “The silver lining for the industry was that this year was an opportunity for online operators to focus heavily on their products and build their customer base, using a combination of technology improvements and aggressive promotions. That has matured the market far more quickly than was projected.”

Online betting generated 93.3%, or $929.3 million, of the state’s total handle in December, down from 93.6% in November. FanDuel Sportsbook/PointsBet topped online operators with $29 million in gross revenue, up from $21.2 million in November.

FanDuel was followed in revenue by:

  • Resorts Digital/DraftKings/Fox Bet ($15.4 million, up from $14.6 million in November)
  • BetMGM/Borgata ($6.3 million, up from $1.3 million)
  • Monmouth/William Hill/Sugarhouse/TheScore ($3.3 million, up from $1.9 million)
  • Ocean Casino/William Hill ($3.2 million, down from $3.6 million)
  • Hard Rock/Bet365/Unibet ($562,188, up from $363,099)
  • Caesars Sportsbook/888sport ($489,141, up from $247,615)
  • Golden Nugget/BetAmerica ($343,849, up from $199,667)
  • Tropicana/William Hill ($108,427, up from $105,028)

Retail sportsbooks generated $67 million in bets, down from $75.9 million in December 2019. Meadowlands/FanDuel topped retail books in December with $4.2 million in revenue. For the year, retail books generated $38.6 million in revenue, down from $54.9 million in 2019.

“The race for market share seems to be frozen in place,” Gouker said. “An expected launch of Penn National’s Barstool-branded sportsbook in 2021 could shake things up, but as of yet no operator has really eaten into the market share of FanDuel or DraftKings.”

Online casinos and poker just miss $100 million

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New Jersey’s online casinos and poker rooms generated a record $99.5 million in revenue, up 101.6% from $49.3 million in December 2019 and shattering the previous record of $93.5 million. The month produced $14.9 million in state taxes.

December closed the books on a remarkable year in which online casinos tallied $970.3 million in revenue — a 101% gain over the $482.7 million in 2019 — and produced $145.7 million in state taxes. With revenue at retail casinos down $1.2 billion for the year compared with 2019, the dramatic rise in online gaming revenue was critical in offsetting some of the losses.

“It’s scary to think of where New Jersey’s gaming industry would be without online casino gaming,” Ramsey said. “Every dollar of revenue gained and tax dollar generated from online gaming proved desperately needed.”

Some other highlights from December’s report:

  • Online casinos and poker generated $3.2 million a day over 31 days in December, up from $3.1 million a day over 30 days in November.
  • Golden Nugget led online casinos with $29.4 million in December revenue, up from $26 million in November. But Borgata continued to eat into a market lead that once seemed insurmountable, hitting $27.2 million in December. Resorts Digital was third with $21 million.
  • Revenue from online casinos was $96.4 million, up from $89.4 million in October. Online poker produced $3 million, up from $2.4 million in October.

For more information and analysis on regulated sports betting and online gaming in New Jersey, visit PlayNJ.com/news.

 

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About the PlayUSA.com Network:

The PlayUSA.com Network is a leading source for news, analysis, and research related to the market for regulated online gaming in the United States. With a presence in over a dozen states, PlayUSA.com and its state-focused branches produce original daily reporting, publish in-depth research, and offer player advocacy tools related to the advancement of safe, licensed, and legal online gaming options for consumers. Based in Las Vegas, the PlayUSA Network is independently owned and operated, with no affiliations to any casino — commercial, tribal, online, or otherwise.

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Canada

Soft2Bet granted Ontario Certification of Registration and readies for imminent launch

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Ontario Certificate is hugely promising as Soft2Bet continues its regulatory expansion

Soft2Bet, a leading provider of online betting and gaming solutions to regulated operators worldwide, is delighted to announce that it has been granted a Certificate of Registration in Ontario, Canada’s largest province, moving it one step closer to being able to launch its Tooniebet.com iGaming brand.

Obtaining its Certificate of Registration (Nbr: OPIG1280338) from the Alcohol and Gaming Commission of Ontario (AGCO) will enable Soft2Bet to continue its expansion into the world’s largest regulated jurisdictions.

Ontario has been a major success story for regulated online sports betting and casino in North America in the past two years. The province launched its regulations in April 2022 and latest figures for the fourth quarter of 2023 showed that operators recorded a 21% rise in wagers to CA$17.2bn and a 22% increase in gross gaming revenues to CA$658m, the highest ever revenue total in Ontario’s wagering history. Online casino was the main driver of this growth and generated CA$13.7bn of the total stakes and CA$471m in GGR.

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Elisabeth Isaksson, Head of Regulatory Compliance at Soft2Bet, commented: “Being registered with the AGCO in Ontario is testament to the work our compliance and regulatory teams are doing daily to enable our continued expansion in the world’s largest regulated markets. We’re immensely excited about taking our first steps in North America and look forward to licensing and launching in more jurisdictions in the region.”

Chief Business Development Officer Martin Collins added: “This Ontario certification is another significant and important step in our corporate expansion plans. It fits perfectly with our stated aim of growing our regulatory footprint and we very much look forward to continuing forward on this path.”

Soft2Bet is also actively working to obtain a licence in New Jersey and continue its expansion in the Americas. This activity comes after the group obtained B2C licences in Italy, Greece and Romania in 2023.

 

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Boxes

Hacksaw Gaming and DraftKings Score Again in Ontario

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2023 saw Hacksaw Gaming go live in West Virginia and New Jersey and now we have made our long-awaited entry in Ontario, Canada. Securing this trio has hit new heights and hopes for further successes throughout the rest of this year.

DraftKings Casino entered the iGaming market in Ontario in May of 2022 and partnered with Hacksaw Gaming in the back end of the same year. As Ontario’s regulated iGaming market only went live in April of 2022, the pair have given an outstanding performance with effective launch strategies and expansive footing in North America.

Apart from gaining an unprecedented reach across regulated markets, the mobile-friendly format of Hacksaw Gaming games can be visited on phone or tablet via the DraftKings Casino app. Boasting an impressive online casino’s selection of over 300 games, DraftKings now welcomes Hacksaw Gaming favourites such as Chaos Crew, Mines, Omnom and Boxes.

“The benchmarks we have set as a partnership are remarkable and we are ready to take on more challenges continuing into 2024,” the Chief Executive Officer for Hacksaw Gaming, Marcus Cordes, said.

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BetVictor

Exploring Canada’s video Game Market: Survey Insights

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Technology has become a great source of entertainment to many. Video games particularly have garnered interest from all demographics. In Canada, the gaming industry has experienced significant growth, fuelled by increased accessibility to gaming platforms and the growth of online gaming communities.

Statistics indicate that a large percentage of Canadians are engaged in gaming activities, whether it be playing console or PC games, mobile games, or online multiplayer games. The popularity of video games extends beyond leisure pastimes, with many Canadians participating in gaming competitions, attending gaming conventions, and consuming gaming-related content on platforms like Twitch and YouTube.

The number of video game users in Canada reflects how broad the sector is, from mobile games to digital video games, download games and live streaming. In 2024, the gaming sector will see millions of users in each of these categories. Statista projects 13.38 million users for digital video games and 7.35 million users for online games respectively. It estimates that revenue in the Canadian video game market is expected to reach US$3,925.00m in 2024, so it is no surprise to observe the increasing popularity of the sector.

Well-known online casino provider BetVictor has compiled some key points from major surveys detailing the video game market to give further insight into its makeup and potential. The gaming culture in Canada is growing, which means the type of games and genres will grow along with the sector. Statista recently conducted a survey of 1 576 respondents aged 18 – 64 who are avid video game players, with telling results. ​​In December 2023, a survey about preferred video game genres in Canada revealed the top four genres as being Action, Action – adventure, Adventure and casual games accounting for 31% of respondents’ preferences.

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David Winter, Marketing Manager at BetVictor notes that “We’ve seen a steady increase in the popularity of action-themed and adventure-themed slots and many providers are exploring how to expand further into this market.”

The popularity of Action games such as platform and fighting games can be attributed to various factors, such as: social interaction, accessibility and inclusivity, social appeal, and cultural influence. With such a diverse audience, all these factors are crucial to understand the appeal of Action games.

In the digital age, gaming has transcended mere entertainment to become a cornerstone of culture, and nowhere is this more evident than in Canada. From coast to coast, a diverse community of gamers is thriving, reflecting the country’s inclusive spirit and passion for technology. Whether it’s the casual gamer enjoying a quick session on their smartphone or the dedicated enthusiast meticulously building a custom gaming PC, Canada offers a welcome haven for all kinds of gamers.

Diving deeper into the Statista results, Strategy games accounted for 29%. This shows us that players have a strong interest in tactical and decision-making games. While role-playing (RPG) and sports games garnered 22% each, simulation and shooters trailed slightly behind at 21% and 20% respectively.

MMO (massively multiplayer online games), as well as MMORPGs (massively multiplayer online role-playing games) and MOBA (multi online battle arenas) came in at 13% and 8% respectively, representing a significant but niche following. With such a diverse array of preferences, the survey underscores the multifaceted nature of interests among Canadian gamers. It highlights the need for game developers to cater for a wide range of genres and gameplaying styles in the Canadian market.

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From action shooter games to role-playing adventures, the industry has something for every gaming enthusiast in the Canadian market. Overall, the popularity of video games in Canada reflects a growing cultural phenomenon, where gaming has become a mainstream form of entertainment and a significant aspect of modern-day leisure activities.

Statistics anticipate a compound annual growth rate (CAGR) of 7.10% for 2022-2027, resulting in a projected market volume of US$24.52bn by 2027. Canada’s online gaming market is experiencing a surge in popularity, with a surging number of Canadian players engaging in immersive virtual reality experiences.

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