Sports Betting
New Jersey Sports Betting Nears $1 Billion in November
New Jersey has become the first state in history to post a legal sports betting handle of more than $900 million. NJ sportsbooks generated $931 million in wagers in November, breaking the previous record of $803.1 million set in October and marking the fourth consecutive month the state has set an all-jurisdiction record for handle.
Novemberâs bets produced $6.2 million in state taxes on $50.6 million in revenue, falling short of the record $58.5 million in gross operator revenue set just last month.
âEven if New Jersey canât quite reach $1 billion in a month before the end of the NFL season, the mere possibility so soon after the industry launched in 2018 would have been close to inconceivable until just a few months ago. The restart of the U.S. sports world after the shutdowns of spring and early summer has fueled online sports betting in ways that would have been hard to predict before this year,â Dustin Gouker, lead analyst for PlayNJ.com, said.
âWhen the traditional major betting sports went quiet, most of the major online sportsbooks were really good at engaging their customers with an array of offerings, from golf to table tennis. What is surprising is that those efforts continue to pay dividends even as the major sports have returned,â Eric Ramsey, analyst for PlayNJ.com, said.
Compliance Updates
Arizona Department of Gaming Releases February Sports Betting Figures
PHOENIX â Bettors in Arizona wagered approximately $637.5 million on sports in February of 2024, according to a new report by the Arizona Department of Gaming. This represents an approximate 4.6% increase when compared to February of 2023.
The state collected approximately $2.8 million in privilege fees in the month. You can view the full February report on the ADG website: LINK.
Compliance Updates
North Carolina Lawmaker to Introduce Bill to End College Player Prop Bets
North Carolina legislator intends to introduce legislation to ban college player prop bets, according to a staff member.
North Carolina State Representative Marcia Morey, D-Durham, a former Olympic swimmer, will submit a bill by the bill filing deadline on Thursday to ban these bets, Hannah Smith, Administrative Assistant, told Gambling.com on Monday.
The North Carolina Legislature began meeting in Raleigh on April 24 with the session set to end on July 31.
Recently, NCAA President Charlie Baker, a former Massachusetts governor, called upon states to ban college player prop bets, which is short for proposition bets. Baker said these bets, based on an athleteâs individual performance such as the over/under on the number of rebounds the player might record, could undermine the integrity of games and lead to harassment of players.
Former North Carolina Tar Heel star Armando Bacot is among athletes who have expressed concern about harassment. Bacot said he heard from fans angry that he didnât get enough rebounds in an NCAA tournament game against Michigan State – a game the Tar Heels won.
College Prop Bets Allowed in Some States
Some states already ban these bets, while others including Louisiana, intend to impose a ban this summer before the college and pro football seasons begin.
In other states, the proposed ban has met with resistance.
During a recent interview on The Edge, Arkansas casino executive Carlton Saffa told Gambling.com a ban would drive bettors to unregulated offshore sportsbooks or illegal bookies. He said a better solution is to keep those bets legal in regulated markets where irregularities can be spotted.
âSunshine is the best disinfectant,â Saffa, the Chief Marketing Officer for the Saracen Casino Resort in Pine Bluff, Arkansas, said.
College player prop bets remain legal in Arkansas.
In North Carolina, where statewide mobile sports betting became legal in March, State Representative Jason Saine, R-Lincoln, said in a story on the WNCN-TV website that a college player prop ban is âa solution in search of a problemâ. If athletes are being harassed, he said, campus police should crack down on those making the threats and make an example of them. A ban wonât stop the problem, Saine said.
âIf we ended (player prop bets) tomorrow, this kind of behavior would still continue with fanatical people,â Saine said. âFollow rules of society, you donât threaten anybody, or you shouldnât be. And, thatâs kind of my take on it. I donât think we need a whole new set of rules to pursue something like that.â
Morey, the lawmaker proposing the ban, said people are âforgetting about the individuals who are actually playing the game and having the pressure on themâ.
âLetâs give them a break,â she said.
Latin America
Sportingtech Places New Local Talent Front and Center at BiS SiGMA Americas
Award-winning provider highlights vast Latin American expertise at show
Full-service betting and gaming platform provider Sportingtech has introduced some of its newly-appointed Latin American team at this yearâs BiS SiGMA Americas, showcasing how its local know-how and intuitive products can elevate any operatorâs position in the region.
On-hand for the duration of the event in Sao Paulo was Marina Selmi, Latin America Regional Sales Manager, who outlined the full power of the supplierâs solution. Sportingtechâs expertise in the Latin American market was on display to more than 10,000 delegates, with the company boasting a comprehensive understanding of customer preferences across the region.
Laura Manzella, Senior Account Manager, was also present to provide insight on the current landscape. Manzella was able to inform partners of the latest regulatory updates and detailed the providerâs most recent technological developments to highlight its robust products.
Sportingtech has made great strides in developing its Latin America-facing team in recent months, with boots-on-the-ground personnel keeping abreast of the changing legislative scene to ensure compliance.
The supplier places a huge emphasis on its people and takes pride in fostering a collaborative and supportive culture. To coincide with this, there have been several key hires in senior positions across the company to help accelerate growth, following Chief Executive Officer Tom Ustunelâs appointment in December of 2023.
This yearâs event saw Sportingtech pick up another high-profile industry accolade as Ustunel (pictured) won the coveted Chief Executive Officer of the Year award. The win recognized the leadership and commitment he has brought to Sportingtech as the brand is primed for more growth across the globe in 2024.
âBiS SiGMA Americas is certainly one of the most important events in the calendar and we had a tremendous experience at this yearâs show,â Ustunel said. âIt was important for us to showcase our local team members who have acquired a comprehensive understanding of the region and how we can positively impact the offerings of current and prospective partners. With regulations in Brazil almost finalized and other markets showing unique appeal and growth potential, we are well-placed to exceed operatorsâ expectations across Latin America.â
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