Gambling in the USA
New Jersey Sports Betting and Online Gambling Hit $1 Billion Milestones
Impressive growth will continue, according to PlayNJ.com analysts
New Jersey surpassed more than $1 billion in sports bets for the year and crossed the $1 billion mark in lifetime gross revenue generated by legal online sports gambling during a strong December. And with “The Big Game” just ahead, more impressive milestones await, according to analysts for PlayNJ.com. Â
“New Jersey’s sportsbooks are in position to generate a $100 million handle from just that single game, which is the most significant single sports-betting event in the U.S.,” said Dustin Gouker, lead sports betting analyst for PlayNJ.com. “Nevada’s handle was nearly $160 million last year for the one game, and New Jersey’s young market is already showing many of the same trends. And we know operators in New Jersey will be aggressive in attracting bettors.”
According to official reporting released Monday:
- New Jersey’s online and retail sportsbooks collected $319.2 million in bets in December, down 3.5 percent from $330.7 million in November.
- The state’s sportsbooks have collected $1.25 billion in bets since June.
- Revenue from sports betting hit $20.8 million in December, down from $21.2 million in November.
- New Jersey’s online sportsbooks accounted for $241.05 million, or 76 percent, of bets in December.
“New Jersey’s strong November actually bucks a trend in Nevada, where sports betting typically cools a bit in December,” Gouker said. “Growth in a typically slower month crystalizes the strength of New Jersey’s growing sports betting market. The popularity of online sports betting is a chief reason, making it easier for gamblers to place bets, even as the time demands of the holiday season are in full bloom.”
DraftKings Sportsbook — which operates under the Resorts license — fueled Resorts to $6.7 million in online gross revenue in December, down from $7.2 million in November. Resorts accounted for 46 percent of the state’s online win in December, but was followed by FanDuel Sportsbook’s $5.5 million.
FanDuel Sportsbook at The Meadowlands still dominates the retail sportsbook market, gaining $3.6 million in December gross revenue, up from $2.6 million in November. FanDuel — which accounted for 58 percent of New Jersey’s retail win — was followed by Monmouth Park’s $1.03 million.
“Name recognition and an early entrance into the market has made DraftKings and FanDuel the most dominant players in the market, and that advantage will continue in the near-term,” Gouker said. “But as 2019 plays out, other operators will adjust and could begin to eat into their market share.”
LEGAL ONLINE GAMBLING
New Jersey’s online casino and poker industry generated $29 million in December, up from $26.9 million in November, to push the industry to $1.02 billion in revenue since launch in 2013.
Online gambling generated a record $298.7 million in 2018, up from $245.6 million tallied in 2017. The revenue has been crucial, too, injecting $178.7 million into government coffers since launch and $52.3 million in 2018 alone.
“Online gambling’s growth has been perpetual, and 2019 offers few reasons that it will slow down,” said Steve Ruddock, lead online gambling analyst for PlayNJ.com. “Online gambling should generate more than $300 million in 2019, and the taxes from that revenue will continue to be a boon to the state budget.
About The PlayUSA Network:
The PlayUSA Network and its state-focused branches (including PlayNJ.com, PlayNY.com, PlayPennsylvania.com, and PlayCA.com) is a leading source for news, analysis, and research related to the market for regulated online gaming in the U.S.
Gambling in the USA
Games Global Launches Custom Slot Game Caesars Palace Frenzy with Caesars Digital
Launch marks the first bespoke game launch in the partnership between gaming operator and premier gaming provider
Games Global today announced the exclusive launch of Caesars Palace Frenzy, a Caesars-branded slot title that marks the first bespoke game launch on behalf of Games Global’s partnership with premier gaming operator Caesars Digital. Caesars Palace Frenzy is now exclusively live on Caesars Palace Online Casino in New Jersey with plans to expand to Michigan and Pennsylvania, offering players another highly engaging, operator-specific gaming experience with iconic Caesars Palace branding.
Caesars Palace Frenzy combines the excitement of the Las Vegas Strip’s iconic casino with innovative gaming dynamics crafted by Games Global. Designed exclusively for Caesars Digital online casino players, this game delivers an online slot experience with engaging gameplay, sophisticated graphics and dynamic features like scatter pays, multiplied free spins selected by a concentric wheel and a seven-tier jackpot line-up.
This launch demonstrates Games Global’s continued emphasis on partnering with top iGaming operators to deliver exclusive and custom gaming products to players.
“Working closely with Caesars Digital to create Caesars Palace Frenzy has been an exciting journey,” the Chief Executive Officer for Games Global, Walter Bugno, said. “This game is more than just an online slot experience, it is an adventure that mirrors the thrill and grandeur of one of the world’s most iconic destinations. We’re thrilled to see it come to life and deliver a unique blend of entertainment and gaming.”
“We’re committed to collaborating with top gaming providers to launch custom online casino experiences for our players that can’t be found anywhere else,” the Senior Vice-President and Chief iGaming Officer for Caesars Digital, Matt Sunderland, said. “Caesars Palace Frenzy delivers on that commitment by providing an elevated gaming experience that we’re certain our players will enjoy.”
Gambling in the USA
Alabama-Coushatta Tribe of Texas Announces Plans to Build New Casino Resort
The Alabama-Coushatta Tribe of Texas has announced the plans to build a brand-new casino resort on its Tribal lands in Polk County.
“We are incredibly excited to embark on this new chapter. This new casino resort will not only provide significant economic benefits for those living and working in the region, but it will also become a vibrant destination for visitors,” Ricky Sylestine, Chairman of the Tribal Council, said.
While specific details are still being finalized, the new resort may offer a variety of amenities including a state-of-the-art casino floor, hotel accommodations, and diverse dining and entertainment options.
The Tribe has engaged the architectural firm FFKR to design the new resort. FFKR is known for its innovative and creative designs. The Tribe is confident the firm will create a truly exceptional destination.
In addition to the new casino resort, the Tribe is planning an extensive remodel to its existing Ischoopa/One Stop Convenience Store and Truck Stop. The remodel will include adding electronic bingo machines.
The Alabama-Coushatta Tribe of Texas will be releasing news related to the new resort and any additional developments in the coming months.
Gambling in the USA
BetConstruct to Display Its Products and Services at Sigma Americas
BetConstruct, a leading company in iGaming technology and services, is heading to Sigma Americas in Sao Paulo, Brazil from April 23-25, 2024.
Sigma Americas is a major event focusing on iGaming with 10,000 delegations and more than 200 professional speakers. This event serves as an exceptional platform for participants to present their innovative offerings, engage with fellow industry leaders, and establish new business relationships.
BetConstruct is poised to introduce its cutting-edge products and solutions to the growing Brazilian market at the upcoming event. As a premier provider of online iGaming solutions, the company will showcase its comprehensive range of services to all attendees, offering diverse solutions tailored to meet their specific needs and preferences.
Moreover, BetConstruct will demonstrate its newest Spettacolare offer by Mr. First, which is a fleeting opportunity to maximise user profits and explore the potential of FTN.
Attendees of the event can find BetConstruct in the Transamerica Expo Center at Stand O60, where they will have the opportunity to gain a comprehensive understanding of BetConstruct’s products and solutions.
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