Connect with us
Prague Gaming & TECH Summit 2024

Canada

PlayMichigan.com: Sports betting drops for second consecutive month

Published

on

 

Michigan’s sports betting volume slumped for the second consecutive month in May. Meanwhile, online casinos remained achingly close to the state’s first $100 million revenue month — another impressive total for what has already become one of the three largest online casino markets in the U.S. in less than five months, according to PlayMichigan, which analyzes and researches the state’s regulated online gaming and sports betting market.

“Online casinos don’t face the same dramatic seasonal variances as sports betting does, so they act as a steadying force for the industry,” said Jessica Welman, analyst for PlayMichigan.com. “On the other hand, sportsbooks have been hit by the seasonality of sports betting and struggling local teams. It appears they will have to wait until the end of summer before substantial growth can be expected again.”

Michigan online sportsbooks took in $237.6 million in wagers through the 31 days of May, down 4.9% from $249.9 million over the 30 days of April, according to official data released Tuesday by the Michigan Gaming Control Board. Combined with $20.2 million in retail handle, which was announced last week, Michigan’s online and retail sportsbooks took in $257.7 million in bets. That total is down 6.0% from $274.2 million in bets in April.

Gross operator revenue from online betting fell 4.5% to $19.5 million in May from $20.4 million in April. That produced $9.9 million in taxable revenue, down from $10.9 million, yielding $993,784 in state taxes.

Advertisement

With its 28.5% drop in wagering, Michigan’s April handle represented the steepest month-over-month decline among the 10 largest sports betting markets in the U.S. May’s results so far lags behind other states that have already reported April data, too. Iowa’s wagering was down 2.9% in May, for example, while Indiana’s handle rose 7.6%, to $254.4 million.

A slowdown in sports betting from April until the kickoff of football season is inevitable in nearly every state. But Michigan’s decline has been more pronounced because as the initial enthusiasm that came from the launch of online betting began to settle, the sports schedule also waned. Even more, all of Detroit’s professional teams that were in action in April and May — the Pistons, Red Wings, and Tigers — struggled mightily.

“A lack of success from Detroit teams naturally saps interest, and Michigan is facing too many short-term factors to overcome completely,” said Matt Schoch, analyst for PlayMichigan.com. “Despite the declines in betting volume, there aren’t any systemic issues. Even if the Lions’ prospects are equally dim, substantial growth will almost certainly return with the beginning of football season.”

FanDuel/MotorCity Casino led all online sportsbooks with $71.2 million in wagering, down from $74.2 million in April, and $9.3 million in gross sports betting receipts, up from $7 million. That total yielded $7.4 million in taxable revenue.

DraftKings/Bay Mills Indian Community followed with $66.7 million in wagers, up from $61.5 million in April. Gross gaming revenue fell to $1.9 million from $3.4 million in April. BetMGM/MGM Grand Detroit remained third with $51.6 million in bets, down from $54.9 million in April while producing $5.3 million in gross receipts and $2.7 million in taxable revenue.

Advertisement

The online market leaders were followed by:

  • Barstool/Greektown Casino ($18.2 million handle, down from $24.8 million in March; $1.1 million gross revenue, down from $2.4 million)
  • PointsBet/Lac Vieux Desert Band of Lake Superior Chippewa Indians ($11.4 million handle, down from $14.1 million; $1 million GGR, up from $807,988)
  • William Hill/Grand Traverse Bay Band of Ottawa and Chippewa Indians ($6.2 million handle, down from $7 million; $217,050 GGR, down from $346,865)
  • FOX Bet/Little Traverse Bay Bands of Odawa Indians ($5.1 million handle, down from $5.5 million; $338,049 GGR, down from $371,271)
  • BetRivers/Little River Band of the Ottawa Indians ($2.8 million handle, up slightly from April; $76,004 GGR, down from $172,146)
  • Twin Spires/Hannahville Indian Community ($1.5 million handle, down from $1.9 million; $95,645 GGR, down from $163,524)
  • Wynn/Sault Ste. Marie Tribe of Chippewa Indians ($1.4 million handle, down from $1.9 million; $168,874 GGR, down from $177,154)
  • Golden Nugget/Keweenaw Bay Indian Community ($923,269 handle, down from $874,114; $10,750 GGR, up from -$2,623)
  • Four Winds Sportsbook/Pokagon Band of Potawatomi Indians ($545,937 handle, up from $345,719; -$20,000 GGR, down from $7,908)

“The next few months should help bring innovation from sportsbooks, as each operator experiments with ways to spur interest during the slow season,” Schoch said. “Those developments could be unique promotions built around the upcoming Olympics, or interesting NBA playoff or baseball bets. Regardless, innovation in a competitive market is ultimately good for the entire industry.”

Online casinos and poker 

Revenue for Michigan’s online casinos and poker rooms hit $94.9 million in May, essentially even with April but still just below the record $95.1 million reached in March. May’s win breaks down to $3.1 million per day of the 31 days of the month, down slightly from $3.2 million per day over the 30 days of April. 

The win produced adjusted gross receipts of $89.1 million, up from $88.9 million in April. That total yielded $18.1 million in state taxes and $7.1 million in local taxes.

Michigan is still trying to join New Jersey and Pennsylvania as the only states to reach $100 million in revenue over a single month. The growth has stalled in recent months, but online casinos overall have grown far more quickly than any other U.S. online casino market. Since January, online casinos and poker have generated $393.9 million in revenue and $99.7 million in state and local taxes. By comparison, online and retail sportsbooks have generated $123.5 million in revenue and just $5.2 million in state and local taxes.

Advertisement

“Online casinos have become a powerhouse of revenue generation,” Welman said. “Revenue has remained high, even as retail casinos around Detroit have become more accessible. Looking ahead, the popularity of these games should remain — and likely expand — over the next few months, even as retail casinos’ operations continue to steady.” 

Other highlights from May:

  • BetMGM/MGM Grand Detroit led with $36.1 million in gross receipts, yielding $10.6 million in state and local taxes.
  • FanDuel/Motor City was second with $16.3 million in GGR, producing $4.3 million in state and local taxes.  

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

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 (including PlayMichigan.com, PlayNJ.com, and PlayPennsylvania.com) produce daily original 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.

Continue Reading
Advertisement

Canada

Soft2Bet granted Ontario Certification of Registration and readies for imminent launch

Published

on

soft2bet-granted-ontario-certification-of-registration-and-readies-for-imminent-launch

 

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.

Advertisement

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.

 

Advertisement
Continue Reading

Boxes

Hacksaw Gaming and DraftKings Score Again in Ontario

Published

on

hacksaw-gaming-and-draftkings-score-again-in-ontario

 

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.

Advertisement
Continue Reading

BetVictor

Exploring Canada’s video Game Market: Survey Insights

Published

on

exploring-canada’s-video-game-market:-survey-insights

 

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.

Advertisement

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.

Advertisement

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.

Continue Reading

Trending

Get it on Google Play

Offering comprehensive coverage on all aspects of the gaming sector, our daily posts include online and land-based gaming, betting, esports, regulatory and compliance updates, and technological advancements. Regular features encompass daily news articles, press releases, exclusive interviews, and insightful event reports.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Gaming News Room is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania