BetMGM

PlayIA.com: Sports betting volume falls to less than $90 million

Published

3 years ago

August 9, 2021

Iowa’s sportsbooks extended a streak of month-over-month declines in betting volume, taking in less than $89 million in bets in July in what was the 24th month of sports betting in the state. July’s betting volume decrease is historically the single slowest month for sports wagering in the U.S., and even the Olympics and NBA Finals couldn’t reverse the trend in Iowa, according to PlayIA, a leading source for news and analysis of the Iowa gaming market.

“The Olympics and the later-than-usual NBA Finals gave bettors more opportunities to place a bet than what would be a typical July, but neither were able to move the needle much,” said Jessica Welman, analyst for the PlayUSA.com Network, which includes PlayIA.com. “Bettors simply check out in July, when summer vacations and other pursuits take precedence. But a surge in betting will certainly come with the beginning of the football season.”

Iowa’s online and retail sportsbooks took in $88.9 million in July, down 20% from $111.2 million in June to extend a streak of month-over-month declines to four, according to official data released Friday. July marked the lowest handle in the state since November 2020, as bettors placed $2.9 million per day over the 31 days of July, well short of the $3.7 million per day in June.

The betting volume results followed a historical trend. The pandemic skewed 2020 data, but the lowest volume month across the U.S. in both 2018 and 2019 was in July. The boost in volume pushed net operator revenue to $7.1 million in June, down 15.7% from $8.4 million in June. That resulted in $479,479 in tax revenue for the state.

Baseball and basketball held most of Iowa’s betting water in July. Iowa put in place a cautious framework for Olympics betting, which barred wagering on individual events that feature athletes under the age of 18. That took some of the betting inventory off the board.

“Mainstream sports such as basketball and golf, along with a handful of high-profile events, have drawn the most Olympics interest,” said Eric Ramsey, analyst for PlayUSA.com and PlayIA.com. “But there was no wave of action from the Olympics. Bettors aren’t as comfortable wagering on Olympic events. And partly it’s because betting on many high-profile events in swimming and gymnastics, which took center stage in the early part of the Olympics, were barred because minors were competing.”

Sports betting launched in Iowa on Aug. 15, 2019, which made July 2021 the 24th month of operation. It has been a winding road with the pandemic that hobbled the industry in 2020 and the removal of in-person registration requirements that has rocketed the market forward in 2021.

In 24 months, Iowa sportsbooks have generated:

$1.7 billion in wagering
$122.8 million in gross gaming revenue
$8.3 million in tax revenue

“Iowa has experienced so many twists and turns over the last two years, but the state’s sportsbooks find themselves in a good place,” Welman said. “Sportsbooks will hit more than $1 billion in wagering by September at the latest, nearly doubling the handle for all of 2020 before football kicks off. That is staggering growth.”

In July, $77.9 million in bets were made online, representing 87.6% of the state’s handle. Retail betting accounted for the remaining $11.0 million.

Caesars Sportsbook, which was rebranded from William Hill, generated 35% of Iowa’s handle in July with $31.1 million in total wagers. That is down from $36.65 million in June. $28.7 million of July’s wagers were made online. In all, July’s wagering yielded $1.0 million in net receipts.

Wild Rose, which includes DraftKings and BetRivers, took in $25.2 million in online and retail wagering, down from $31.5 in June. July’s handle included $25.0 million in online wagering. The wagering was enough to produce $2.6 million in revenue, topping the market.

Diamond Jo, fueled by FanDuel and BetMGM, was third in the state with $21.4 million in combined wagers, down from $26.6 million in June. $18.4 million of July’s wagering came online. That was enough to net a market-leading $2.4 million in revenue.

Bally Bet, the state’s newest operator, collected $1.1 million in wagers and $111,157 in revenue in its first full month of operation.

BetMGM

Play’n GO announces expansion of BetMGM partnership with Pennsylvania launch

Published

7 days ago

April 18, 2024

GamingAmericas.com

play’n-go-announces-expansion-of-betmgm-partnership-with-pennsylvania-launch

Swedish gaming giants’ games now live with leading US operator in Michigan, West Virginia, New Jersey, and the Keystone State

Play’n GO, the world’s leading casino entertainment provider, has today announced further expansion of its partnership with leading US operator BetMGM,with the Swedish gaming giant’s content now available with the group in Pennsylvania.

Play’n GO and BetMGM’s US partnership has already proven stunningly successful in Michigan, New Jersey, and West Virginia, and this expansion sees the partnership extend to a fourth US state. Having secured its Pennsylvanian gaming license in March, Play’n GO is now live with two operators in this key state. BetMGM players in Pennsylvania now have access to classic Play’n GO titles, such as Reactoonz.

Play’n GO is now licensed in six US states and is aiming to be active in every regulated market, in the US and around the world.

Magnus Olsson, Chief Commercial Officer at Play’n GO said: “We’re pleased to expand our partnership with BetMGM into a fourth US state, and look forward to continued success together. We have always been committed to a safe, regulation-led industry to secure a sustainable future for us all. BetMGM share our vision, and so are a perfect partner for us. We will continue our mission of being active in every regulated market around the world, and we’re excited for further growth opportunities well into the future, in the US and beyond.”

BetMGM

BetMGM Partners with GameCode

Published

1 week ago

April 16, 2024

GamingAmericas.com

BetMGM has announced a partnership with GameCode, a distinguished iGaming company focused on the North American market. The partnership includes the launch of Boom Boom Boom, HammerCash, Gold Gold Gold and Super3 series which are now live at BetMGM in Michigan and New Jersey through direct integration. BetMGM plans to offer GameCode’s full portfolio of games in all jurisdictions where the operator’s iGaming platform is live pending regulatory approvals.

GameCode’s portfolio of slot titles are built on innovative and one-of-a-kind mechanics. They develop a deep understanding of players’ tastes, and it enables them to develop games that deliver a unique and immersive experience. The initial lineup of titles includes Gold Gold Gold Miners Way, Gold Gold Gold Lions Way, HammerCash, CashPile, Triplestones, and the top performing Boom Boom Boom. Boom Boom Boom is an American-themed 5-reel, 3-row video slot featuring Wild Multipliers and the hold and respin feature on multiple reel sets.

“Boom Boom Boom and other GameCode titles have already proven to be strong performers in their first few weeks of launch at BetMGM. Our mission is to always innovate with in-house, exclusive content with Entain and partners like GameCode to provide our players with an iGaming experience that rises above the rest. This will continue to position us as a destination for players and first choice for suppliers of premium content,” Oliver Bartlett, Vice President of Gaming Product & Content at BetMGM, said.

“At GameCode, we focus on creating good games rather than disposable online gaming content. With experience gained in North American land-based casino, we provide a unique understanding of the market and player needs. We aim to make an impact with each title we release and so far we do so. We innovate at a pace that is difficult to catch up with, providing something new every time we launch a title that players have not seen before. So far, in the states we are live, GameCode’s titles are at the top of the rankings. More is coming,” Matt Hanski, Chief Executive Officer at GameCode, said.

“I’m excited to announce our launch with BetMGM, introducing advanced online slot games powered by our robust in-house technology. These games are hosted on our state-of-the-art Remote Gaming Server (RGS) which is the backbone of its performance and security. It is a long-term play to develop and maintain a RGS that is designed with multiple layers of protection, ensuring the highest standard of data security and integrity in compliance with U.S. regulations. This launch is a testament to our dedication to providing secure, reliable, and immersive gaming experiences,” Wojciech Ziniewicz, Chief Technology Officer at GameCode, said.

Adam Greenblatt

Prove Identity Partners with BetMGM

Published

3 weeks ago

April 4, 2024

GamingAmericas.com

Prove Identity Inc., the global leader in digital identity, announced a strategic partnership with BetMGM, a sports betting and iGaming leader, to enhance the security and user experience for BetMGM customers through the cutting-edge Prove Pre-Fill identity solution.

Prove Pre-Fill accelerates digital consumer onboarding by up to 79% and is used by more than 1000 businesses globally across diversified industries, including 9 of the top 10 banks. This collaboration marks a significant milestone in Prove’s journey toward providing seamless and secure digital sports betting and casino services in the U.S. states where BetMGM operates, pending regulatory approval.

“BetMGM is an innovator in the space, always looking to find new and compelling ways to improve the online gaming experience. Prove Pre-Fill is the latest example of that and allows customers to get access to the content they desire faster than ever before through the identity verification process, enabling them to take full advantage of BetMGM’s vast product offerings,” Tom Hill, Director of Digital Identity and Head of Sports Betting and iGaming at Prove, said.

“We’re committed to providing customers with a seamless and secure sports betting experience, and our partnership with Prove is a testament to that safe bet. Prove Pre-Fill adds an extra layer of security, reduces sign-up abandonment, and improves the overall user experience by streamlining the identity verification and authentication processes. Users can now enjoy the BetMGM sports betting and casino experience faster and with greater peace of mind,” Adam Greenblatt, CEO of BetMGM, said.

Key Highlights of the Partnership:

Streamlining User Onboarding: Prove Pre-Fill technology will revolutionize the onboarding process for BetMGM users, minimizing sign-up abandonment rates. By simplifying and expediting account creation, BetMGM aims to provide a frictionless experience from the start.
Preventing Bonus and Promotion Abuse: Prove’s solutions will be crucial in preventing rampant bonus and promotion abuse – for example, using the same bonus code multiple times normally intended for only first-time users – within the BetMGM digital sports betting and casino platforms. This ensures a fair and secure user environment, fostering a trustworthy and enjoyable gaming experience.