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PlayColorado.com: Betting falls below $250 million as state closes first year of sports betting

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Sports Betting Market Size Is Likely to Experience a Tremendous Growth of USD 167.66 billion by 2029, registering a CAGR of 10.26 % by Size and Share, Industry Growth, Regional Outlook, Challenges and Analysis

 

Colorado officials confirmed Tuesday that sports betting volume dropped in April, a product of seasonal pressures that will likely slow the state’s sportsbooks until football season, according to PlayColorado, which tracks the state’s regulated sports betting market. But as sports betting in the state turned 1, a modest decline hardly dampens the outlook for a state poised for more growth in Year 2.

“In U.S. sports betting, there isn’t any real substitute for the popularity of the NFL or the NCAA Tournament,” said Ian St. Clair, analyst for PlayColorado.com. “But even with a monthly decline in wagering, Colorado continues to fare well compared with similarly sized states. The circumstances now are radically different from last year’s pandemic-plagued launch, and there is reason to believe that the state will be back to full speed once football returns.”

Colorado’s online and retail sportsbooks took in $244.5 million in April, down 18.8% from $300.1 million in bets in March, according to data released Tuesday afternoon by the Colorado Division of Gaming. The state’s official tally is slightly less than the unaudited data that was reported by the Division of Gaming earlier this month.

Bettors placed $8.1 million bets per day in April, down from $9.7 million per day in March. Those bets led to $17.6 million in gross gaming revenue, down 13.8% from $20.4 million in March. Promotional credits worth $6.4 million whittled net sports betting proceeds to $10.5 million, yielding $1.1 million in tax revenue.

From the industry’s launch on May 1, 2020, through April 30, 2021, Colorado sportsbooks generated:

  • $2.3 billion in wagers
  • $147.4 million in gross gaming revenue
  • $61.5 million in net betting proceeds
  • $6.6 million in state taxes

“The outlying metric continues to be the state’s take, which may yet need to be adjusted to ensure that the industry is working for every stakeholder,” said Jessica Welman, analyst for PlayColorado. “Still, considering the circumstances of its launch, the first year of sports betting in Colorado was a success.”

A drop in wagering was to be expected with the lighter sports schedule. Every state with legal sports betting has reported a month-over-month decline in April wagering. Of the largest sports betting markets in the U.S. that have already reported April data, Indiana (-25.4%), Iowa (-26.7%), and Michigan (-30.5%) all experienced a more dramatic month-over-month decline than Colorado, though New Jersey (-13%), Tennessee (-13.6%), and Pennsylvania (-14.4%) were modestly better.

The NBA remained king in April, which has been the case in most markets. Betting reached $84.3 million, down from $106.9 million in March. Baseball betting in the season’s first month was second with $48.3 million, a total likely dampened by the struggles of the Colorado Rockies. The Colorado Avalanche propelled hockey betting to No. 3, with $10.6 million, while table tennis ($9 million) continued to show atypical popularity.

“Colorado’s unique mix of betting interests does help flatten some of the seasonal swings that some other major markets experience,” St. Clair said. “If the Nuggets and Avalanche can make deep playoff runs and the Olympics pique interest, Colorado stands a good chance of avoiding the worst of the typical summer swoon.”

For more information and analysis on regulated sports betting in Colorado, visit PlayColorado.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 PlayColorado.com, PlayIndiana.com, and PlayNJ.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.

Gambling in the USA

Playstar Casino partners with Fast Track to accelerate growth in US market

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Fast Track, the leading provider of player engagement solutions to the online gaming industry, is proud to announce its latest partnership with Playstar Casino, a leading online casino licensed and operating exclusively in the Garden State of New Jersey.

 

Fast Track, the leading provider of player engagement solutions to the online gaming industry, is proud to announce its latest partnership with Playstar Casino, a leading online casino licensed and operating exclusively in the Garden State of New Jersey.

Playstar Casino is renowned for its relentless focus and passion for providing the best player experiences in the market. Understanding this need as core to future success, Playstar sought a partner capable of delivering unparalleled solutions to enhance player engagement through AI-powered customer journeys and build 1:1 experiences at scale for each player and found Fast Track.

Using advanced AI, machine learning and real-time data insights, Fast Track provides the ideal solution to streamline operations and amplify player engagement, enabling Playstar to execute its strategy at scale and increase productivity.

Jon Bowden, Chief Marketing Officer of Playstar Casino, expressed his confidence in their choice, stating, “At Playstar, the player experience is paramount. Fast Track was the obvious choice for us due to their commitment to supporting our growth goals. We’re keen to automate the bulk of our strategy and work with the most advanced technology for personalization and modeling.

Jean-Luc Ferrière, Managing Director Americas at Fast Track, echoed this sentiment, remarking, “It’s always exciting for us to partner with an operator so dedicated to offering an unparalleled player experience. The team is very keen to start collaborating with Playstar to help them achieve and exceed their business objectives.”

The partnership between Fast Track and Playstar Casino marks an exciting chapter for both organizations as they work together to elevate player experiences and drive sustainable growth in the US online gaming market.

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Gambling in the USA

Boldplay™ to make U.S. debut after signing exclusive partnership deal with BetMGM

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The new partnership will see Boldplay’s extensive collection of innovative video slots, table games, virtual scratch and keno titles become available to customers in the U.S. market for the very first time, enabling countless players to experience the brand’s signature range of bonus features and jackpots.

 

Boldplay™, the casino software supplier, has announced its much-anticipated U.S. debut after teaming up with BetMGM, a leading iGaming and sports betting operator, and providing its first set of games Cyborg City, Toro Bravo™, and Gold Metal Ox™.

The new partnership will see Boldplay’s extensive collection of innovative video slots, table games, virtual scratch and keno titles become available to customers in the U.S. market for the very first time, enabling countless players to experience the brand’s signature range of bonus features and jackpots.

Notable highlights to come out of the studio include Boldplay Spins™ – a unique twist on Free Spins that sees the reels spin both vertically and horizontally to create more winning pay lines – and the brand’s flagship jackpot, the Boldplay Superpot™, which gives players of all bankroll levels a chance to win big.

The exclusive nature of the deal will also see BetMGM gain a significant market advantage in the U.S., where it will initially be the only platform able to offer Boldplay™ games. Given these titles have already garnered plenty of critical acclaim from players and operators across Europe, their presence at BetMGM will be a huge draw and will help the platform further enhance its standing in the industry.

This latest collaboration represents another significant step in Boldplay’s evolution from up-and-coming studio to one of the industry’s most sought-after software providers and will allow the brand to extend its reach into new regulated markets – a move CEO, Valli Fragoso, is clearly optimistic about.

“Boldplay™ is thrilled to announce that we’re teaming up with BetMGM in an exclusive partnership that will see our games be made available in the U.S. for the very first time,” she said. “By joining forces with such a prestigious operator, we’ll be able to raise the profile of our brand in the country as we continue to expand and we’re looking forward to what should be a hugely successful collaboration.”

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Gambling in the USA

Thunderkick enters social casino space with High 5 Casino deal

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Partnership marks the provider’s first foray into sweepstakes and the US market

 

Partnership marks the provider’s first foray into sweepstakes and the US market

Independent slots studio Thunderkick has announced its entry into the US market and social casino space through an exciting new partnership with High 5 Casino.

This collaboration will see the provider’s highly acclaimed games integrated into High 5 Casino, a free-to-play social casino gaming platform, signalling the provider’s first venture into sweepstakes.

As part of the agreement, Thunderkick will provide its popular titles, including both Pink Elephants and Sword of Khan, to High 5 Casino’s players across more than 40 states in the US.

Founded in 1995, High 5 Casino is one of the industry’s largest independent casino brands, with operations in the land-based, online, and social markets across six continents and in more than 150 countries.

This partnership, facilitated by Thunderkick’s existing relationship with Relax Gaming, represents the provider’s first move into the burgeoning US market. High 5 Casino is the first customer to benefit from this collaboration, with more brands expected to follow in the coming months.

Svante Sahlström, CCO at Thunderkick, said: “Entering the sweepstakes market and partnering with High 5 Casino is a significant milestone for Thunderkick. We are excited to introduce our games to US players for the first time and to explore the potential of this market segment.

“This collaboration allows us to showcase our innovative content to a wider audience and deliver an engaging gaming experience that closely resembles real money gambling. We are confident that our partnership with High 5 Casino will be a successful one, and we look forward to working with them to bring our games to players across the United States.”

Jerry Wilson, VP of Creative at High 5 Games, added: “Thunderkick’s games have proven to be very popular in Europe and we are excited about helping them launch, not only in the US for the first time, but with social players too.

“We’re sure our players will take to these titles, and they will become fan favourites in no time at all. We’re delighted about the launch of our new partnership.”

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