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PlayIA.com: Iowa sportsbooks set per-day betting record during $144 million February

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Iowa sportsbooks took in nearly $144 million in bets in February and took in more bets per day than in the state’s history, even as the state’s month-over-month handle fell from January’s surge. The bottom line is that the Hawkeye State’s sportsbooks continue to reap significant benefits of no in-person registration requirements, according to analysts for PlayIA, which tracks regulated online and retail gaming in the state.

“Iowa remains perhaps the most compelling case study yet on the effects of in-person registration requirements,” said Jessica Welman, an analyst for PlayIA.com. “February is a short month with only one NFL game to bet on, the Super Bowl, so the relatively flat month-over-month results can be misleading on the surface. But another strong showing still places Iowa in a class of states that are either larger or have far more mature gaming markets. And that would not be possible under the old requirements.”

Online and retail sportsbooks generated $143.6 million in wagers in February, according to official data released Friday. That is down 3.9% from the record $149.5 million handle in January. But betting per day in the 28 days of the month was a record $5.1 million, which was up from the $4.8 million per day bet in the 31 days of January.

February’s handle pushed Iowa’s lifetime handle to $1.1 billion, surpassing an eye-catching milestone.

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The biggest reason for the two-month surge is the removal of in-person registration requirements in January. In fact, FanDuel reported new customer registrations multiplied by nearly a factor of seven from December to January, a direct result of the easing of registration requirements. And DraftKings said that by Jan. 5, it had registered more customers via mobile registration than through all of 2020.

Net receipts for sportsbooks did fall 32% month over month, to $7.7 million in February from $11.3 million in January. The month’s revenue still yielded $520,444 in state taxes.

As immediate and significant an effect as the removal of in-person registration requirements has been, it is not the sole reason the state’s sportsbooks remained busy in February. The Super Bowl brought in $16.2 million in wagers, most of which came in February. Bookmakers also benefited from robust interest in men’s college basketball, particularly No. 5 Iowa and Drake, which sits just outside the Top 25.

“When local teams enjoy strong seasons, as both Iowa and Drake are, interest in betting on their games goes up. We see that in every regulated sports betting market in the U.S.,” said Dustin Gouker, analyst for PlayIA.com. “With March Madness on the horizon, more growth almost certainly lies ahead. And sportsbooks should get an even bigger boost if Iowa or Drake can manage a prolonged run in the NCAA Tournament.”

For the month, online sports betting accounted for $143.6 million, or 87.2%, of the state’s overall handle. That brings it closer in line with markets with more mature online sports betting and no on-site registration requirements. In those states, about 90% of all bets are made online.

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The surge in online sports betting continues to heat up the race for market share among operators. Iowa’s first online operator in August 2019, William Hill — which partners in Iowa with Prairie Meadows, Horseshoe Casino Council Bluffs, Isle Casino Hotel Waterloo, Isle of Capri Bettendorf, Lakeside, and Harrah’s Council Bluffs — retook the online market lead with $45.2 million in online wagers in February. That netted a market-leading $2 million in receipts.

The Wild Rose license, which is anchored by DraftKings but includes BetRivers, took in $38.9 million in online wagers and $1.5 million net receipts. FanDuel, the nation’s largest sportsbook brand, helped put Diamond Jo in third place with $28.4 million in online bets, up from $26.9 million in January. Diamond Jo’s license, which includes BetMGM, netted $1.5 million on those bets.

Still emerging from COVID-related restrictions, retail betting generated $18.4 million, down from $28.8 million. Ameristar topped the retail market with $4.5 million in wagers, just ahead of Diamond Jo Worth’s $4.2 million.

William Hill and its partners lead across all betting platforms, with a combined retail and online handle of $50 million, or 34.8% of the state’s handle. In a U.S. market dominated by FanDuel and DraftKings, Iowa and Nevada are the only two states in which William Hill is the market leader.

“William Hill is still proving that early entry into a market is critically important,” Welman said. “But DraftKings and FanDuel are investing heavily in Iowa, and with their brand recognition, they are seeing a rapid return on that investment. We’ll see how long William Hill is able to hold them off.”

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For more information and analysis on regulated sports betting in Iowa, visit PlayIA.com/news.

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Hacksaw Gaming Advances to West Virginia with BetMGM Partnership

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Before the turn of the last year, Hacksaw Gaming took its long-standing relationship with BetMGM, a leading sports betting and iGaming operator, to new heights as the pair celebrated their successful debut in West Virginia. The entry followed closely on the heels of Hacksaw games becoming available on BetMGM’s Ontario site in May, which signified their first stop on the North American front. As Hacksaw gains momentum with licensing, so has the impact of its game portfolio. The studio plans to deepen its roots in America alongside BetMGM by widening its base to New Jersey in the coming months.

BetMGM stands prominently among the top 3 uncontested sportsbooks in the state of West Virginia. With slots constituting the majority of the game selection on the BetMGM West Virginia casino app, the addition of Hacksaw’s captivating themes and gameplay elements offers West Virginians a compelling gaming escapade to remember. The first batch of games included chart-toppers Joker Bombs and Outlaws Inc., serving as an exclusive sneak-peak into the diverse offerings of Hacksaw Gaming. The games were featured and positioned in lucrative spots on the online casino site to amplify the impact of the launch. More Hacksaw titles have been introduced on the site since, captivating players within a community expected to grow exponentially.

Reflecting on the journey, Marcus Cordes, CEO of Hacksaw Gaming, expressed, “Joining BetMGM on the mission to put Hacksaw Gaming on the map has been an exhilarating experience. We are making excellent progress.”
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Adam Greenblatt

Marriott Bonvoy and BetMGM Unlock a New World of “Play, Earn, Stay” with New Rewards Connection

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Marriott Bonvoy, Marriott International’s award-winning travel program, and BetMGM, a leading sports betting and iGaming operator, launched an unprecedented rewards collaboration in the online sports betting and iGaming industry, giving fans an extra stake in the game.

Players in licensed states can link their Marriott Bonvoy and BetMGM accounts and earn BetMGM Rewards points when they wager using the BetMGM sports betting app or play at the award-winning online casino. They can then exchange BetMGM Rewards points for Marriott Bonvoy points, up to 100,000 points annually, which they can then use to redeem extraordinary experiences, including future free nights with Marriott Bonvoy’s more than 30 hotel brands and 10,000 destinations globally.

“The collaboration with Marriott Bonvoy is a monumental differentiator for us. This partnership will extend our brand to millions of potential new customers while offering our players the unique benefit of utilizing their gameplay to tap into the world of Marriott Bonvoy’s unrivaled portfolio of experiences,” said BetMGM CEO Adam Greenblatt.

BetMGM offers a seamless user interface to earn BetMGM Rewards points and then transfer those points for Marriott Bonvoy points through the app’s rewards store. Linked accounts will have access to participate in exclusive games, experiences, and offers on the BetMGM platform.

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“This landmark collaboration between Marriott Bonvoy and BetMGM goes beyond hospitality and gaming, unlocking new opportunities for members to ignite their passions and deepen connections with the people and places they love. We are excited to welcome BetMGM members with more global access to more than 30 hotel brands,10,000 locations and a growing portfolio of exclusive and curated member experiences including sports, music, art, and culinary events around the world,” Peggy Roe, EVP and Chief Customer Officer at Marriott International, said.

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BetMGM

MGM Resorts & BetMGM Strengthen Relationship with Kindbridge

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MGM Resorts International and BetMGM announced new groundbreaking initiatives in collaboration with Kindbridge designed to support problem gambling research and mental health services. Kindbridge Research Institute and Kindbridge Behavioral Health are organizations that aim to better understand the problems that exist within at-risk communities, delivering evidence-based treatment for gambling disorder.

The partnerships and collaborations break down as follows:

MGM Resorts & Kindbridge Research Institute

As part of its commitment to responsible gaming research, MGM Resorts has donated $100,000 to Kindbridge Research Institute in support of a voluntary medication trial for veterans experiencing gambling addiction in Las Vegas. This first-of-its-kind treatment aims to reduce gambling urges and symptom severity among veterans with gambling disorder.

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“This contribution will help explore and identify innovative treatment for a population our company cares deeply about. We have a longstanding commitment to supporting military members and their families year-round and are privileged to invest in research that benefits this important community.”

Research will be completed by treatment providers at the Las Vegas Veterans Affairs Residential Recovery and Renewal Center (LVR3) in partnership with the University of Nevada-Las Vegas. The study is part of Kindbridge Research Institute’s 50x4vets program, a multi-year research initiative aimed at increasing research on gambling disorder in veterans by fifty times in four years.

“This is such a promising intervention. We are so grateful for MGM Resorts’ support of this research to improve the lives of veterans and extend the work of the many great scientists, treatment providers, and donors of the 50x4vets program,” Nathan D. Smith, Executive Director of Kindbridge Research Institute, said.

BetMGM & Kindbridge Behavioral Health

BetMGM has announced it will expand its relationship with Kindbridge Behavioral Health to offer problem gambling referrals in Massachusetts, Michigan, New Jersey, Nevada, Ohio, Pennsylvania, West Virginia, and Ontario. This comes as BetMGM reaches its sixth month in the Kindbridge Colorado Pilot Program.

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“We are proud to lead the way in providing individuals with this potentially life-changing support and are pleased with how the program has performed so far. This expanded investment underscores our dedication to ensuring those who need care can receive it. As access to sports betting and online gaming continues to grow, so should access to problem gambling treatment and care,” Rhea Loney, Chief Compliance Officer at BetMGM, said.

This unprecedented collaboration between an online operator and a treatment provider offers direct access to comprehensive mental health assessments, treatment, and group support services. As a result, a number of Colorado residents who have opted to be banned from gambling through the state’s self-exclusion program are now actively receiving referrals for voluntary treatment from BetMGM.

“We welcome BetMGM’s decision to extend mental health services to players in distress across multiple jurisdictions. This initiative is a positive step toward supporting individuals facing challenges with gambling. It underscores the importance of accessible help and the role we all play in fostering safer gaming environments,” Daniel Umfleet, CEO of Kindbridge Behavioral Health, said.

This news comes as MGM Resorts and BetMGM join the National Council on Problem Gambling (NCPG) in recognizing March as Problem Gambling Awareness Month (PGAM). Throughout the month, new GameSense messaging will be displayed prominently throughout MGM Resorts properties nationwide, as well as in the BetMGM app. GameSense is an industry-leading responsible gaming program first developed and licensed to MGM Resorts in 2017 by the British Columbia Lottery Corporation (BCLC). The program focuses on positive, transparent, and proactive interactions with guests and customers about how to gamble responsibly.

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