Press Releases
PlayFL.com: Florida sportsbooks could generate as much as $12 billion in wagering annually under new agreement
Florida Gov. Ron DeSantis’ landmark compact agreement with the Seminole Tribe could open the door to a retail and online sports betting market that would potentially be the largest in the U.S., capable of generating as much as $12 billion in bets annually, according to estimates by PlayFL.com, which tracks the state’s regulated online gaming and sports betting market.
“Assuming the industry launches with the current framework in place, there is little question that sports betting will drive a massive amount of revenue for the state,” said Dustin Gouker, analyst for the PlayUSA.com network, which includes PlayFL.com. “This is a unique design with no direct comparisons among markets that are already active. But with Florida’s large population, the brand recognition of Hard Rock, a framework that leaves room for more participants, and a reasonable revenue-sharing structure, Florida will have a higher ceiling than any other market to date.”
The governor’s agreement with the Seminole Tribe, which will serve as a sort of sports-betting gatekeeper as well as operate its retail online sportsbooks under the Hard Rock brand, must still be approved by the state legislature, and legal challenges to the deal have already been threatened. But if the compact survives the remaining obstacles, Florida would join 26 other U.S. states and Washington D.C., that have approved regulated sports betting in some form. Twenty-two of those jurisdictions have launched.
Even with this unusual agreement, Florida could become one of the largest sports betting markets in the country, according to PlayFL projections. By the market’s third year, Florida’s retail and online sportsbooks could generate between $8 billion and $12 billion per year, with $10 billion annually a likely target. Those bets could create more than $1 billion in operator revenue. And with a 13.75% revenue share from tribal operations and 10% from pari-mutuels, sports betting could yield more than $125 million for the state annually.
“The structure in Florida won’t be quite as ideal for consumers as a truly open and competitive market, with a robust roster of operators competing vigorously to attract their attention,” said Eric Ramsey, analyst for PlayUSA.com and PlayFl.com. “But unlike truly closed markets like New York or New Hampshire, the revenue-sharing structure leaves more room for the operator to create an appealing product and promote it. And Florida has so many positive attributes that the market should flourish.”
Among the market’s many attributes, Florida and its more than 20 million residents would become the largest state to date to legalize and regulate sports betting, easily surpassing Illinois and Pennsylvania, which are the two largest states to have legalized sports betting with populations near 13 million. Pennsylvania generated $3.6 billion in 2020, despite the pandemic-related shutdowns of major sports. Illinois has taken in $3 billion in bets since launching in July 2020. Only New Jersey and Nevada have generated more over that time.
In addition, Florida is home to multiple franchises in each major North American professional sports league, 13 universities with NCAA Division I athletics, the best-known NASCAR event in the country among other auto races, and multiple PGA Tour events. All of which will help boost local interest.
And every year sports fans travel to Florida for an unrivaled collection of college bowl games, NCAA Tournament games, baseball’s spring training, the occasional Super Bowl, and other high-profile events.
“The process to legalize sports betting has been unusual so far, but the appeal of Florida’s market is obvious,” Ramsey said. “Florida should be able to count on an unusual amount of action flowing in from other states because of its appeal as a sports tourism destination, bolstering what will already be the largest local customer base. As it stands now, there is no other market in the U.S quite like Florida.”
Aposta Ganha, the fastest growing Brazilian sports betting and casino site in Brazil, has launched its Black Friday promotion with its newest ambassador Luva de Pedreiro, AKA Bricklayer’s Glove.
With over 21 million followers on Instagram, the digital influencer and social media phenomenon will strengthen the brand’s presence in the market and shake up Black Friday with a campaign full of special offers for bettors.
Known for his catchphrase “Receeeeba!” and his irreverent personality, Luva de Pedreiro will be the main face of the campaign, creating a direct connection with the public, football fans and social media enthusiasts. The partnership aims to increase Aposta Ganha’s visibility in the market, attract new bettors and offer an even more dynamic experience.
Aposta Ganha is taking advantage of Black Friday to reinforce its commitment to ethical and transparent operations in the market. The platform complies with the new regulations of the Federal Government and invests in education and awareness initiatives, ensuring a safe experience for its users. Vitor Paulin, Chief Marketing and Growth Officer at Aposta Ganha, said: “Signing an ambassador like Luva de Pedreiro is a huge milestone for Aposta Ganha. His authenticity and connection with the public make him the ideal partner to boost our brand and make the betting experience even more exciting.”
Aposta Ganha’s Black Friday brings unmissable offers for all types of bettors. One highlight is that bettors will receive 10% cashback on the amount lost in the Aviatrix game and daily offers for sports betting. The promotions will be valid from November 21 to 30, with exclusive advantages in selected games each day.
Latest News
MAJOR LEAGUE BASEBALL SELECTS SPORTRADAR TO TRANSFORM PLAYER TALENT SCOUTING FOR ALL 30 CLUBS
Sportradar today announced a multiyear agreement with Major League Baseball (MLB) to offer unparalleled sports performance analysis of amateur baseball prospects, through its Synergy Coaching and Scouting solution, to the league and its 30 Clubs. This new partnership will revolutionize player talent scouting through Sportradar’s advanced, proprietary technology and highlights Sportradar’s commitment to delivering innovative and game-changing solutions to the league.
Under the agreement, MLB and its 30 Clubs will gain access to an unprecedented depth of player analysis and insights with event coverage expanding significantly, from 3,300 to more than 20,000 games – an over 600% increase. This includes college, international, professional partner leagues and leading amateur leagues, such as the MLB Draft League, the Appalachian League and MLB Develops events, and, for the first time, top high school events.
The Synergy Coaching and Scouting solution is uniquely positioned to address the player evaluation needs of MLB as it leverages Sportradar’s expertise ingesting and transforming millions of data points from video into detailed metrics, actionable insights and dynamic visualizations. This, combined with Sportradar’s AI-powered sports performance technology, enables Synergy to provide unparalleled, in-depth analysis of every player, play and game situation, and equips MLB and Club scouts with the information and insights they need to streamline the evaluation process, guide draft decisions and support the development of future MLB players.
“Sportradar’s cutting-edge technology, alongside our reputation as a trusted partner to leading US sports leagues, is driving the transformation of sports performance analysis,” said Eduard Blonk, Chief Commercial Officer, Sportradar. “Through Synergy we are pleased that we are expanding our relationship with MLB, equipping them with the deep data and insights they need to identify the next generation of players. We are eager to continue bringing innovative solutions to MLB.”
“We are excited to expand our relationship with Sportradar and ensure equal access to the Synergy video and data services for all 30 MLB Clubs. This platform has become a key resource for Clubs in the domestic and international scouting process and we look forward to continuing our work with Sportradar in the coming years,” said John D’Angelo, MLB’s Sr. Vice President of Amateur and Medical Operations.
Financial reports
Commercial Gaming Revenue Growth Continues in Q3 2024, Driving Industry’s 15th Consecutive Quarter of Growth
U.S. commercial gaming revenue reached $17.71 billion in Q3 2024, the industry’s highest-grossing Q3 on record, according to the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker. This makes Q3 2024 the industry’s 15th consecutive quarter of annual revenue growth, with September marking the 43rd straight month of rising year-over-year commercial gaming revenue.
Through the first nine months of the year, nationwide commercial gaming revenue stands at $53.24 billion, pacing 8.0 percent ahead of 2023 and putting the industry on track for a fourth straight record revenue year.
In Q3 2024, 29 of the 35 commercial gaming jurisdictions operational last year saw increased year-over-year revenue. This growth resulted in an 8.9 percent year-over-year increase in state and local taxes tied directly to gaming revenue, with commercial gaming operators contributing $3.79 billion in taxes across the quarter.
Quarterly revenue from land-based gaming – encompassing casino slots, table games and retail sports betting – totaled $12.56 billion, 0.62 percent lower than Q3 2023. Meanwhile, combined revenue from online sports betting and iGaming totaled $5.14 billion in Q3 2024 as online gaming made up 29.0 percent of commercial gaming revenue, a significantly higher share than in Q3 2023.
Looking at each sector in Q3 2024:
- Traditional Gaming: Traditional brick-and-mortar casino gaming generated quarterly revenue of $12.38 billion, a contraction of 0.9 percent year-over-year.
- Legal Sports Betting: Americans legally wagered $30.3 billion on sports, generating $3.24 billion in quarterly revenue (+42.4% YoY). Recent market launches in Kentucky, Maine, North Carolina and Vermont contributed to this growth.
- iGaming: iGaming generated $2.08 billion in revenue, marking a 30.3 percent year-over-year increase.
“Q3 2024 continued gaming’s momentum from the first half of the year, with online casino and sports betting driving strong growth. At the same time, new brick-and-mortar casino openings bolstered traditional gaming, which still accounts for the bulk of industry revenue,” said AGA Vice President of Research David Forman. “More than a quarter of commercial revenue now regularly comes from online sources, raising the importance of continued sustainable growth with consumers in those states.”
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