Press Releases
PlayTenn.com: Sports betting hits low in July
Tennessee’s sportsbooks recorded their lightest volume month since the first month of operation in November 2020, as bettors found a dearth of games to bet on in July even during a month with the NBA Finals and the opening week of the Olympics. But the dip in wagers to less than $145 million comes in what will likely be the lowest volume month of the year in the U.S., and will ultimately be short-lived as the football season grows closer, according to PlayTenn, which tracks the Tennessee gaming market.
“Even with the NBA Finals and the Olympics this July, there wasn’t nearly as much to engage casual bettors as most any other month of the year,” said Jessica Welman, analyst for the PlayUSA.com network, which includes PlayTenn.com. “But sportsbooks should quickly erase any declines as those casual bettors return home from summer vacations in August and then begin to turn their attention to football.”
Sportsbooks took in $144.6 million in wagers in July, down 17.2% from $174.5 million in June, according to official data released Tuesday by the Tennessee Education Lottery and Sports Wagering Advisory Council. The pace of betting fell to $4.7 million per day over the 31 days in July from $5.8 million per day over the 30 days of June.
The dip in betting volume is in line with trends across the U.S. Every major market in the U.S. that has reported July data so far has reported a significant month-over-month decline in wagering. And removing the pandemic-altered numbers produced in 2020, July was the lowest-volume month across the U.S. in both 2018 and 2019 and appears likely to be the low again in 2021.
The good news for operators is that revenue remained high relative to the month’s slumping volume, leading to $15.2 million in gross gaming revenue, down a proportional 17.1% from $18.3 million in June. This yielded $13.4 million in taxable revenue, producing $2.6 million in tax revenue.
“All in all, the summer has gone well for Tennessee’s sportsbooks,” said Nicole Russo, analyst for PlayTenn.com. “An increased win percentage for sportsbooks has helped make up for the loss of volume. In the slower months that’s exactly what operators are hoping to see.”
This is the second-consecutive month that the combined hold â the share of wagers that sportsbooks keep on events that are completed â has been relatively high.
The hold percentage has taken even more importance for operators after last week’s recommendation by the Rulemaking Committee of the Sports Wagering Advisory Council to increase the fine for operators who do not meet that threshold over the course of a year. Currently, operators can’t be fined any more than $25,000 per year for failing to meet the 10% minimum hold. The committee wants to make assessments on a quarterly basis, holding operators liable for up to $100,000 in penalties each year for not meeting the 10% threshold.
Tennessee’s hold penalty is one-of-a-kind among U.S. markets, and so far this year operators are not on track to meet the requirement.
“It will continue to be difficult for operators to meet that hold requirement, but with a heftier fine, sportsbooks will likely be more engaged in trying to meet the threshold,” Russo said. “It was a burdensome requirement already, and the change will make it even more so.”
For operator data and more information on regulated sports betting in Tennessee, visit PlayTenn.com/revenue.
Latin America
Salsa Technology Hails Hugely Successful BIS SiGMA Americas
Salsa Technology has hailed a hugely successful BIS SiGMA Americas where it presented its Latin America-ready solutions. Sao Pauloâs 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 Technologyâs 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 Technologyâs recent collaboration and seamless launch with NossaBet sparked many new conversations around partnerships.
âSeeing the sheer number of people visiting our stand and enquiring about our Latin America-ready solutions filled me with pride,â the founder of Salsa Technology, Peter Nolte, said. âThere is huge momentum in the region following the regulatory advancements and weâre perfectly positioned to support those wanting to succeed here.â
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 Technologyâs signature Senhor do Bomfim wish ribbons were in high demand, while the artisanal cachaca kept the conversations flowing.
âThis yearâs 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,â the Chief Operating Officer for Salsa Technology, Andre Filipe Neves, said. âAttendees arrived with clear intentions and demands to discuss how best to expand into these regulated markets. Our preparation set the stage for significant success.â
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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