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PlayPennsylvania.com: Sportsbooks cool with $500 million in February
Pennsylvania’s sportsbooks slowed in February but still surpassed $500 million in wagers for the third consecutive month, while online casinos tallied nearly $80 million in revenue in February. Though February brought largely good news to Pennsylvania, it was still the state’s lowest handle since November while online casino revenue fell behind Michigan, according to PlayPennsylvania.com, which provides news and analysis of the state’s gaming industry.
“With just 28 days and a schedule with one NFL game, even if that game is the Super Bowl, a pullback from January to February is expected,” said Dustin Gouker, lead analyst for PlayPennsylvania.com. “Pennsylvania remains one of the strongest markets in the U.S., and March Madness will almost certainly put the state back on the upswing.”
In total, Pennsylvania’s online and retail sportsbooks collected $509.5 million in bets, according to official data released Tuesday. That was up 54.5% from $329.8 million in February 2020, though off from the record $615.3 million in bets in January.
February’s bets produced $16.4 million in taxable revenue, up 246.9% from $4.7 million in February 2020, yielding $5.6 million in state taxes and $327,596 in local share assessments.
The Super Bowl generated $53.6 million in wagers alone, but even the largest single game in terms of wagering of the year is not enough to replace a robust NFL schedule. The expected month-over-month dip from January to February will likely keep Pennsylvania from surpassing Nevada as the nation’s No. 2 market, something the Keystone State nearly did in January.
“Pennsylvania continues to post strong results month after month, but Nevada is a more event-driven market so the Super Bowl handle there is typically the nation’s highest,” Gouker said. “But at the current trajectory of both markets, it seems it’s not if but when Pennsylvania will become the nation’s No. 2 market.”
Online sports betting produced 92.2%, or $469.7 million, of February’s handle, down from 94.3% in January as retail sportsbooks continued to slowly rebound.
FanDuel Sportsbook/Valley Forge Casino led the market with $176.3 million in online bets, down from $220.7 million in January. Those bets produced $7.3 million in taxable revenue. DraftKings/The Meadows was second with $111.7 million in bets, down from $143.5 million in January, yielding $3 million in taxable revenue.
The Barstool-branded Penn National/Hollywood Casino app continues to be a major player, finishing February in third with $65.6 million, up from $65 million in January. It managed to gross $5.1 million in revenue, but heavy promotion led to a $726,040 loss in taxable revenue.
The leaders were followed by:
- BetMGM/Hollywood Morgantown ($33.7 million handle, down from $39.3 million; $2 million, down from $33,148)
- BetRivers/Rivers-Pittsburgh ($20.4 million handle, down from $26.8 million; $1.4 million revenue, up from $1.3 million)
- Fox Bet/Mount Airy ($18 million handle, down from $26.6 million; $1.3 million, down from $2.5 million)
- Parx Casino ($17.7 million handle, down from $22.8 million; $1.6 million revenue, down from $1.8 million)
- PlaySugarHouse/Rivers-Philadelphia ($14.6 million handle, down from $20.8 million; $957,245 in revenue, down from $1.4 million)
- Unibet/Mohegan Sun Pocono ($7.5 million handle, down from $10 million; $416,533 revenue, up from $377,770)
- Betfred/Wind Creek ($1.7 million handle, up from $1.5 million; $50,386 revenue, down from $208,275)
- BetAmerica/Presque Isle Downs ($1.3 million handle, down from $1.7 million; $5,496 revenue, up from -$81,367)
- Caesars/Harrah’s ($1.1 million handle, down from $1.3 million; $3,541 revenue, down from $36,506)
Retail sportsbooks generated a $39.8 million handle, up from $35.4 million in January. Sportsbooks won $3 million on February’s bets. The top retail sportsbook was Rivers-Philadelphia with $7.7 million in bets.
“Retail sportsbooks still have some time to go before they are back to normal, but with COVID infections dropping as vaccination levels rise, better days are hopefully not far away,” said Valerie Cross, analyst for PlayPennsylvania.com. “In the online market, though, Barstool continues to make progress, keeping handle steady, but it took a huge promotional spend to do it.”
Online casinos and poker
Online casinos and poker rooms generated $77.8 million in gross revenue in February, which was down slightly from $80.4 million in January revenue. But that is mostly good news, as online casinos and poker rooms actually raised revenue to $2.8 million per day over the 28 days in February from $2.6 million per day in January.
The revenue yielded $21 million in state taxes and another $10.7 million in local share assessments and county grants.
Despite a record for per-day revenue, Pennsylvania is now the third-largest online casino market in the U.S. after Michigan tallied $79.7 million in its first full month of online casinos and poker.
“Pennsylvania’s online casinos are in a very good place,” Cross said. “Pennsylvania’s fall to No. 3 says more about Michigan’s rapid ascent than it does about anything in the Keystone State. Online casinos will continue to be a most reliable revenue generator for the state for the foreseeable future.”
For more information on the revenue generated by Pennsylvania, visit www.playpennsylvania.com/revenue.
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.
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.
Andrew Cochrane Chief Business Officer of GiG
GiG increases Ontario market presence, powering the launch of Casino Time
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.
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.”
Glitnor Group, operating under the LCKY Group in Ontario, has joined the International Betting Integrity Association (IBIA). Glitnor Group’s luckycasino.ca brand sportsbook will feed into IBIA’s world leading betting integrity monitoring platform. The operator joins over 50 companies and 125 leading sports betting brands in IBIA and further cements the association’s position as the leading sports betting integrity monitoring body in Ontario and globally.
David Schwieler LCKY Group CEO, said: “At Glitnor Group, we’re dead serious about keeping our betting games fair and square. That’s why teaming up with IBIA is a big deal for us. We know how crucial it is to protect the spirit of sports, and we’re ready to roll up our sleeves and work closely with the IBIA to make sure sports betting stays exciting, speedy, and above all, fair.”
Khalid Ali, CEO of IBIA, said: “I am delighted to welcome Glitnor Group as IBIA’s latest member in Ontario. Glitnor and IBIA share a common goal to maintain the integrity of the sports betting marketplace and to protecting consumers and sports from match-fixing. Ensuring product integrity is paramount to our approach and we look forward to integrating Glitnor within our leading global sports betting integrity monitoring system.”
IBIA is a not-for-profit body that has no competing conflicts with the delivery of commercial services to other sectors and is run by operators for operators to protect regulated sports betting markets from match-fixing. IBIA’s global monitoring network is a highly effective anti-corruption tool, detecting and reporting suspicious activity in regulated betting markets.
Through the IBIA global monitoring network it is possible to track transactional activities linked to individual customer accounts. IBIA members have over $300bn per annum in betting turnover (handle), accounting for approximately 50% of the global commercial regulated land-based and online sports betting sector, and in excess of 50% for online alone.
IBIA recently released a report on the Availability of Sports Betting Products which highlighted Ontario as a leading regulated gambling jurisdiction, with an expected onshore channelisation for sports betting of 92% in 2024 forecast to rise to 97% in 2028. IBIA currently represents over 60% of the private sports betting operators licensed in the province. All online sports betting operators licensed in Ontario are required to be part of a betting integrity monitoring body.
IBIA’s 2023 annual integrity report detailed 184 alerts reported in the year, which represents a decrease of 101 (or 35%) on the revised 2022 figure of 285 alerts. IBIA alerts contributed to the investigations and subsequent successful sanctioning of 21 clubs, players and officials in 2023, an increase on the 15 sanctioned in 2022.
The post Glitnor Group expands IBIA’s betting integrity presence in Ontario appeared first on European Gaming Industry News.
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