Press Releases
PlayPennsylvania.com: Sportsbooks make first betting volume gains since March
The return of football helped Pennsylvania sportsbooks post their first month-over-month increase in betting volume since March with nearly $350 million in wagers in August. The gain sets the stage for what could be a record-shattering fall for the state’s sportsbooks as online casinos and poker rooms continue their own torrid pace, according to PlayPennsylvania, which tracks regulated online gaming and sports betting in the state.
“August’s sports schedule is still relatively light compared with the fall, so it is welcome to see betting volume move off the low we saw in July,” said Valerie Cross, analyst for PlayPennsylvania.com. “The next four months is the most important stretch of the year for sportsbooks, though, and every sign points toward a stretch of widespread growth.”
Pennsylvania’s online and retail sportsbooks accepted $348.5 million in wagers in August, down 4.5% from $365.0 million in August 2020 but up 14.5% from $304.4 million in July, according to official data released Monday. August marked the first month since March, when sportsbooks took in $560.3 million in wagers, that the combined handle topped the previous month’s handle.
Gross gaming revenue fell 8.3% to $25.3 million from $27.6 million in August 2020 and fell 7.9% from $27.5 million in July. August produced $18.0 million in taxable revenue, generating $6.1 million in state taxes and $360,145 in local share assessments.
The gains in August were likely in part a product of increasing interest in baseball, especially as the Philadelphia Phillies remained in postseason contention. But a handful of college and NFL preseason games, in addition to futures betting on football, undoubtedly helped boost bettors’ interest.
“An inglorious exit from the NBA playoffs, the struggles of the Pittsburgh Pirates, and the inconsistency of the Phillies, conspired to make this a relatively slow summer for Pennsylvania’s sportsbooks,” said Dustin Gouker, analyst for the PlayUSA.com Network, which includes PlayPennsylvania.com. “It took just a handful of games in August to show how important football is to the sports-betting industry.”
Bettors made $318.1 million in wagers at the state’s online sportsbooks, representing 91.3% of the state’s total handle. FanDuel led all online operators with $135.7 million in wagering, up 27.1% from $106.7 million in July. FanDuel’s online revenue fell 54% to $5.7 million in August from $12.3 million in July, yielding $3.0 million in taxable revenue.
DraftKings was second in the state with $80.4 million in wagers, up 21.4% from $66.2 million in July. That yielded $8.0 million in gross revenue and $6.6 million in taxable revenue. BetMGM was third in the state with $29.0 million in wagers and $2.5 million in gross revenue.
Penn National’s Barstool-branded app attracted $26.3 million in wagers creating $2.1 million in gross revenue and $1.6 million in taxable revenue.
The online leaders were followed by:
- BetRivers ($13.2 million handle, down from $14.5 million; $882,274 GGR, down from $1.3 million)
- SugarHouse ($10.3 million handle, up from $9 million; $692,350 in GGR, up from $680,099)
- Fox Bet ($8.6 million handle, down from $10 million; $746,103 in GGR, up from $709,376)
- Parx Casino ($6.4 million handle, down from $7.9 million; $713,282 GGR, down from $745,087)
- Unibet ($4.2 million handle, down from $4.5 million; $307,601 GGR, down from $316,936)
- TwinSpires ($2.3 million handle, up from $2.1 million; $147,448 GGR, down from $179,276)
- Caesars ($1.2 million handle, up from $947,532; $73,785 GGR, up from -$126,967)
- Betway ($617,954 handle; up from $563,481; $18,818 GGR, up from -$32,239)
- Wind Creek ($521,601 handle, up/down from $406,259; $78,195 GGR, up from $6,284)
Meanwhile, retail sportsbooks accepted $30.4 million in wagers in August, up from $29.0 million in July. Those wagers created $3.3 million in gross gaming revenue, up 22.8% from $2.7 million in July. Rivers Philadelphia topped the retail market with $5.1 million in bets, ahead of Rivers Pittsburgh’s $4.4 million handle.
“Revenue generation is important this time of year, too, but football is often a springboard for operators to build relationships with new customers,” Gouker said. “This is why operators are aggressive with their football-related promotional offerings and advertising campaigns, particularly around the opening weeks of the season. It’s also a time when giants such as FanDuel and DraftKings really can exploit their resource advantage over smaller operators.”
Online casinos and poker
Online casinos and poker rooms posted their sixth consecutive month with gross gaming revenue over $100 million with $103.2 million in August. That was up 54.8% from $66.7 million in August 2020, though down 1.2% from $104.5 million in July.
Gross revenue was whittled to $88.7 million in taxable revenue, which was even with July. August’s win yielded $39.4 million in state and local taxes. Wagering at online casino games remained brisk, hitting $3.2 billion in August, which was also even with July.
“While sportsbooks ebb and flow with the seasons, the growth at online casinos has been consistent and relentless,” Cross said. “As the weather cools, that growth should continue. There are no signs yet that point to any kind of slowdown on the immediate horizon.”
Other highlights from August:
- Online casino and poker rooms generated $3.3 million in gross gaming revenue per day over the 31 days of August, down from $3.4 million per day in July.
- Penn National, which includes the DraftKings, BetMGM, Barstool, and Hollywood casinos, led the market once again with $35.1 million in gross revenue. Rivers Philadelphia, which includes SugarHouse, Borgata, and BetRivers casinos, was second with $30.8 million.
- On the strength of the first full month of the World Series of Poker, poker generated $3.2 million in revenue, up from $2.7 million in August 2020. Mount Airy/PokerStars topped operators with $1.9 million in revenue.
For more information, visit www.playpennsylvania.com/news.
eSports
CAPCOM’S STREET FIGHTERTM 6 GOING TO COLLEGE THIS FALL
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Press Releases
Genome and Chilli Partners join forces to revolutionize iGaming affiliate payouts
Leading the charge in the convergence of financial technology and iGaming, Genome, a cutting-edge electronic money institution, is thrilled to announce its strategic partnership with Chilli Partners, a prominent iGaming affiliate program specializing in casino games.
The collaboration marks a pivotal moment in the iGaming industry, bringing together Genome’s expertise in online financial services and Chilli Partners’ prowess in affiliate marketing. The partnership is set to redefine the landscape of affiliate payouts, offering an array of benefits to both affiliates and the iGaming community at large.
“We are excited to embark on this journey with Chilli Partners. By combining our financial expertise with their influential position in the iGaming affiliate space, we aim to set new standards for efficiency and innovation in affiliate payouts,” – noted Genome’s CEO Daumantas Barauskas.
For one, the partnership offers efficient payouts. Affiliates can now enjoy expedited and secure payouts through Genome’s state-of-the-art financial infrastructure, enhancing their overall experience and satisfaction.
It also provides global reach for Chilli Partners, as it can extend its reach to affiliates worldwide with Genome’s international payment capabilities. This allows Chilli Partners to foster a more diverse and expansive network.
The partnership streamlines financial workflows, ensuring seamless transactions and reducing administrative overhead for Chilli Partners, allowing them to focus on delivering top-notch affiliate services.
Genome is all about innovation in payments and online financial services. This approach brings new possibilities for payment options, providing flexibility and convenience for affiliates participating in the Chilli Partners program.
Lastly, the collaboration prioritizes compliance and risk management, assuring affiliates of secure and compliant transactions in accordance with industry regulations.
“This partnership aligns perfectly with our commitment to providing the best possible experience for our affiliates. Genome’s advanced financial services will play a crucial role in elevating our affiliate program to new heights”, – added Clayton Zammit Cesare, Head of Affiliates at Chilli Partners.
As the iGaming industry continues to evolve, Genome and Chilli Partners stand united in their dedication to driving positive change, innovation, and reliability. The partnership is poised to create a ripple effect, positively impacting the entire iGaming ecosystem.
About Genome
Genome is a leading EMI that provides innovative financial services, including batch payouts, SWIFT, and SEPA transfers. With a focus on efficiency and compliance, Genome empowers businesses across various industries, including iGaming, to streamline financial operations and enhance user experiences.
For more information, please visit https://genome.eu/
About Chilli Partners
Chilli Partners is a prominent iGaming affiliate program specializing in casino games. With a commitment to excellence, Chilli Partners connects affiliates with top-tier iGaming brands, offering a lucrative partnership that includes competitive commission structures and tailored support.
For more information, please visit https://chillipartners.com/
Latest News
Rivalry Announces 2023 Annual Letter to Shareholders and Filing of 2023 Annual Financial Statements
Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), the leading sportsbook and iGaming operator for Gen Z, is pleased to announce its 2023 annual letter to shareholders and the filing of its financial results for the three (3) and 12-month period ended December 31, 2023. All dollar figures are quoted in Canadian dollars.
2023 Annual Letter to Shareholders
To our Shareholders,
This time last year I spoke about Rivalry’s evolution from a market leader in esports to a diversified Company setting the standard for Gen Z betting entertainment broadly.
Today, we have a business with revenue distribution across casino, sports, and esports betting, growing market share in new geographies, with increased velocity in core regions, and the strongest customer KPIs in Rivalry’s history.
In 2023, Rivalry recorded $423.2 million in betting handle1, up 82% from the previous year. Similarly, gross gaming revenue2 and net revenue both saw 34% and 66% respective increases, while the introduction of higher margin products released in H2 such as Same Game Combos and Quick Combos are continuing to improve overall sportsbook hold and guide Rivalry closer to profitability.
Our deepened product suite now includes fantasy, additional sports coverage, and new proprietary casino games. All of which are uniquely driving growth among a targeted customer segment and widening our opportunity set in 2024 and beyond – from a 60% increase in traditional sports betting to a burgeoning B2B game vertical. The potential for how far our brand can go is just beginning to unfold.
The year ahead is rife with new, innovative product releases arriving in Q2 and continuing throughout 2024. We are doubling down on core growth opportunities in sports that resonate with our audience, such as basketball and soccer. Further, we are building on a successful casino segment which already represents 50% of our business, enhancing variety, depth, and accessibility, as well as developing new original games which blur the lines between betting and entertainment. We are in the process of additional geographic expansion, and pursuing new licenses to broaden our total addressable market, positioning Rivalry to own the Gen Z gambling opportunity globally.
While Rivalry’s operations have expanded into new high-growth verticals, our north star has remained the same: to define the future of online gambling for a generation born on the internet.
Online gambling in 2024 is radically different than it was just six years ago when Rivalry launched. In that time we’ve seen gaming and internet culture reshape how consumers engage with technology. That shift is broadening the definition of gambling, where product design is influenced by video games, or it exists fully embedded within social apps like Telegram, where content creators are the new affiliates, and much more.
Over the same period, the rise of cryptocurrency and blockchain technology has introduced a new level of speed, access, and security to web-based consumer experiences. Industry estimates now put crypto wagers at up to one quarter of global betting handle3, with 30% year-over-year growth in 20244, and showing no signs of slowing down.
The development of this ecosystem has commercially unlocked online gambling unlike anything since its first transition from land to online many years ago. It has brought in a new global audience, and enriched the customer experience from end-to-end.
Alongside the growth of this technology has emerged new methods of gambling, taking wallet share from more traditional forms at an accelerated rate. The shift in consumer behavior and the signal from our users is clear – interactive, volatile, and crypto-infused product experiences will set the precedent for how the next generation gambles online.
Rivalry, with a brand steeped in internet culture and living at the intersection of this digital economic renaissance, is well-positioned to access this growth opportunity. There is high overlap between Gen Z, gamers, gamblers, and a fast-growing audience of over 420 million crypto users worldwide5 organically aligned with our audience and brand. And we believe that more than half of this audience globally is already wagering with crypto.
It will be Rivalry’s ability to understand, implement, and adapt to this shift more rapidly than our peers that we expect to create first-mover advantages for us. It is for that reason that our vision is now bolder than ever for what’s possible in the online gambling category.
Soon, we will reveal plans for a crypto-enabled product set to enhance alignment between Rivalry and its users, increase network effects, and generally deliver a consumer experience that lives on the internet of 2024.
To that effect, the success of our first-party games and their ability to acquire and engage a captive audience of Gen Z bettors online has validated our original game development strategy amongst industry peers. This has unlocked a new commercial opportunity for Rivalry to license its IP, opening up another line of revenue for the business that has great potential for global scale.
The year ahead is poised to be one of our most ground-breaking, with a myriad of innovative product releases across all of Rivalry’s verticals, adding more dimension to our business, operations, and addressable audience, and building on our competitive moat as the market leader in Gen Z betting entertainment.
We look forward to sharing more details about these upcoming initiatives, the opportunities they will unlock for our Company, and delivering on our promise to create long-term shareholder value and reach profitability. Thank you all for your continued support.
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