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PlayVirginia.com: Sports betting falls to less than $240 million in April, the first month of expected seasonal decline

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Former U.S. Attorney Tom Marino Exposes Illegal Gaming In Virginia

 

Virginia sports betting declined month-over-month for the first time since launching in January, continuing a nationwide trend of falling betting volume. The drop in wagering to less than $240 million in April was expected, a product of a slower spring and summer sports schedule, according to PlayVirginia, which tracks the state’s gaming industry.

“April is a reminder of the seasonality of sports betting, and Virginia is not immune,” said Jessica Welman, analyst for the PlayUSA.com Network, which includes PlayVirginia.com. “In the U.S., there really isn’t any way to replace the popularity of the NFL or the NCAA Tournament with bettors. The seasonal slowdown should last until football season, which will almost certainly return the market to significant growth.”

Virginia sportsbooks attracted $236.4 million in bets in April, according to data released Friday by The Virginia Lottery. That is down 22.2% from $304.1 million in March and the lowest monthly handle of any of Virginia’s first full three months of sports betting. With no major sports holiday to spur interest, sportsbooks took in $7.9 million per day over the 30 days in April, down from $9.8 million in March.

Sportsbooks still won $19.4 million on April’s bets, down from $26.6 million in March. April’s win led to $11.4 million in adjusted gross revenue, down from $13.8 million but still a higher share of gross revenue than in March. That yielded $1.7 million in state taxes, including $41,304 for problem gambling support.

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 Virginia. New Jersey (-13%), Tennessee (-13.6%), Pennsylvania (-14.4%), and Colorado (-18.8%) were better.

“The lighter sports schedule came at a time when the initial enthusiasm from the launch of sports betting naturally began to wane in Virginia, which steepened the monthly decline,” said Dustin Gouker, analyst for PlayVirginia.com and the PlayUSA.com Network. “Still revenue held relatively strong, producing the most tax revenue to date for the commonwealth. That is a good sign heading into summer.”

Now with $865.2 million in wagering since launching in late January, Virginia is still on the precipice of becoming the quickest state to reach the $1 billion milestone. That distinction is currently held by Tennessee, which reached the mark six months after launch. Assuming Virginia can top $135 million in bets in May, it will have hit $1 billion in the market’s fifth month of existence.

Even more, Virginia could see a modest boost in the coming months from the NBA playoffs lasting deeper into summer than normal and the Olympics. And more operators are still expected to launch before the beginning of football season, including the expected addition of Penn National’s highly popular Barstool-branded app.

“Virginia’s market remains in an excellent position,” Welman said. “In fact, Virginia stands should be able to avoid the worst of the typical summer swoon, which will really set the market up for a huge fall.”

For more information and analysis on regulated sports betting in Virginia, visit PlayVirginia.com/revenue.

Latin America

Salsa Technology Hails Hugely Successful BIS SiGMA Americas

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Salsa Technology has hailed a hugely successful BIS SiGMA Americas where it presented its Latin America-ready solutions. Sao Paulo’s Transamerica Expo provided the backdrop for the Brazilian iGaming community to come together to discuss all the major trends and developments in the region.

From Salsa Technology’s biggest stand yet at the event, the team was on hand for the duration to share info about the cutting-edge technology and highly-flexible solutions created specifically to meet the needs of local markets. The GLI-certified PAM, Salsa Omni, was a hot topic for those seriously exploring the regulated Brazilian market. It provides a comprehensive solution that includes secure migrations for peace of mind. Salsa Technology’s recent collaboration and seamless launch with NossaBet sparked many new conversations around partnerships.

“Seeing the sheer number of people visiting our stand and enquiring about our Latin America-ready solutions filled me with pride,” the founder of Salsa Technology, Peter Nolte, said. “There is huge momentum in the region following the regulatory advancements and we’re perfectly positioned to support those wanting to succeed here.”

Many productive exchanges were focused on Salsa Gator given its unrivalled ability to provide casino gaming in the regulated Brazilian market, complying with the specific requirements laid out by state regulators.

During the two days in Sao Paulo, Salsa Technology’s signature Senhor do Bomfim wish ribbons were in high demand, while the artisanal cachaca kept the conversations flowing.

“This year’s BIS SiGMA Americas event was the best yet for the business as the focus has never been sharper on what our solutions can deliver within the region,” the Chief Operating Officer for Salsa Technology, Andre Filipe Neves, said. “Attendees arrived with clear intentions and demands to discuss how best to expand into these regulated markets. Our preparation set the stage for significant success.”

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Compliance Updates

North Carolina Lawmaker to Introduce Bill to End College Player Prop Bets

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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 athlete’s 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 didn’t 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.

“Sunshine is the best disinfectant,” 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 ‘a solution in search of a problem’. 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 won’t stop the problem, Saine said.

“If we ended (player prop bets) tomorrow, this kind of behavior would still continue with fanatical people,” Saine said. “Follow rules of society, you don’t threaten anybody, or you shouldn’t be. And, that’s kind of my take on it. I don’t think we need a whole new set of rules to pursue something like that.”

Morey, the lawmaker proposing the ban, said people are ‘forgetting about the individuals who are actually playing the game and having the pressure on them’.

“Let’s give them a break,” she said.

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Latin America

Sportingtech Places New Local Talent Front and Center at BiS SiGMA Americas

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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 year’s BiS SiGMA Americas, showcasing how its local know-how and intuitive products can elevate any operator’s 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 supplier’s solution. Sportingtech’s 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 provider’s 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 Ustunel’s appointment in December of 2023.

This year’s 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.

“BiS SiGMA Americas is certainly one of the most important events in the calendar and we had a tremendous experience at this year’s show,” Ustunel said. “It 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 operators’ expectations across Latin America.”

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