Gambling in the USA
Americans Will Wager $8.5 Billion on March Madness
47 Million People Plan to Place Bets on NCAA Men’s Basketball Tournament
Americans plan to wager $8.5 billion on this year’s NCAA men’s basketball tournament, with 1-in-5 adults placing a bet, according to a new survey released today by the American Gaming Association (AGA).
Key findings from the survey, conducted by Morning Consult, include:
- 47 million American adults will wager $8.5 billion on March Madness;
- $4.6 billion will be wagered on a collective 149 million brackets by more than 40 million people;
- Nearly 18 million people will wager $3.9 billion at a sportsbook, online, with a bookie or with a friend;
- 4.1 million will place a bet at a casino sportsbook or using a legal app;
- 2.4 million will bet illegally with a bookie; and
- 5.2 million will bet online, likely at illegal offshore sites.
- The plurality of bettors favors Duke (29%) to win, followed by Gonzaga (9%), North Carolina (8%), Kentucky (7%), Virginia (5%) and Michigan (5%).
“During this year’s tournament – the first in post-PASPA America – sports fans are expected to bet 40% more than they did on this year’s Super Bowl,” said Bill Miller, AGA’s president and chief executive officer. “Unlike any other sporting event in the country, March Madness attracts millions who fill out brackets, make casual bets with friends or wager at a legal sportsbook, which Americans can now do more than ever before.”
Since the U.S. Supreme Court’s ruling in May 2018, more than $5.9 billion has been wagered in the now-eight states with legal, regulated sports betting, enabling consumer protections and generating valuable tax revenue for state, local and tribal governments across the country.
“These results indicate there’s still work to do to eradicate the vast illegal sports betting market in this country, and we’re committed to ensuring sound policies are in place to protect consumers, like the 47 million Americans who will bet on March Madness,” continued Miller.
Sports betting legalization is currently being considered in 23 states across the country.
Methodology
This survey was conducted on behalf of the AGA by Morning Consult between March 1-7, 2019, among a national sample of 11,002 adults. The interviews were conducted online, and the data were weighted to approximate a target sample of adults based on age, race/ethnicity, gender, educational attainment and region. The margin of error is +/- 1% and greater among subgroups. Bettors include those who expect to place a bet online, with a bookie, with a casino sportsbook, casually with a friend or participate in a bracket contest.
About AGA:
The American Gaming Association is the premier national trade group representing the $261 billion U.S. casino industry, which supports 1.8 million jobs nationwide. AGA members include commercial and tribal casino operators, gaming suppliers and other entities affiliated with the gaming industry. It is the mission of the AGA to achieve sound policies and regulations consistent with casino gaming’s modern appeal and vast economic contributions.
Source: American Gaming Association
The three Detroit casinos reported $123.86 million in monthly aggregate revenue (AGR) for the month of March 2024, of which $122.26 million was generated from table games and slots, and $1.6 million from retail sports betting.
The March market shares were:
- MGM, 46%
- MotorCity, 31%
- Hollywood Casino at Greektown, 23%
Monthly Table Games, Slot Revenue, and Taxes
March 2024 table games and slot revenue increased 3.8% when compared to March 2023 revenue. March’s monthly revenue was 16.7% higher than February 2024. From Jan. 1 through March 31, the Detroit casinos’ table games and slots revenue decreased by 1.6% compared to the same period last year.
The casinos’ monthly gaming revenue results were mixed compared to March 2023:
- MGM, up 4.1% to $56.65 million
- MotorCity, up 7.2% to $38.35 million
- Hollywood Casino at Greektown, down 1.4% to $27.26 million
In March 2024, the three Detroit casinos paid $9.9 million in gaming taxes to the State of Michigan. They paid $9.5 million for the same month last year. The casinos also reported submitting $14.5 million in wagering taxes and development agreement payments to the City of Detroit in March.
Monthly Retail Sports Betting Revenue and Taxes
The three Detroit casinos reported $17.25 million in total retail sports betting handle, and total gross receipts were $1.61 million for the month of March. Retail sports betting qualified adjusted gross receipts (QAGR) in March were up by 13.2% when compared to the same month last year. Compared to February 2024, March QAGR was up by $1.7 million.
March QAGR by casino was:
- MGM: $327,857
- MotorCity: $538,988
- Hollywood Casino at Greektown: $731,389
During March, the casinos paid $60,413 in gaming taxes to the state and reported submitting $73,838 in wagering taxes to the City of Detroit based on their retail sports betting revenue.
Fantasy Contests
For February 2024, fantasy contest operators reported total adjusted revenues of $405,342 and paid taxes of $34,049.
Gambling in the USA
IGT Wheel of Fortune and Powerbucks Slots Award Monumental Million-Dollar-Plus Jackpots in March
International Game Technology PLC (IGT) announced that its Wheel of Fortune and Powerbucks slots awarded four life-changing jackpots totaling more than $5 million in March.
Lucky slots players won the following million-dollar-plus jackpots last month:
- On March 8, a Wheel of Fortune slots player won $1,254,996 playing Wheel of Fortune Triple Gold Gold Spin at Beau Rivage Resort & Casino in Biloxi, Miss.
- On March 12, a Wheel of Fortune slots player won $1,635,694 playing Wheel of Fortune Triple Gold Gold Spin Megatower at The Venetian Resort Las Vegas in Nevada.
- On March 22, a Powerbucks slots player won CA$1,485,994 playing Wheel of Fortune Lucky Coins On Stage at Chances Casino Kelowna in British Columbia, Canada.
- On March 30, a Wheel of Fortune slots player won $1,172,262 playing Wheel of Fortune Gold Spin Triple Red Hot 7s at the California Hotel & Casino in Las Vegas, Nev.
IGT Powerbucks slots have paid 56 jackpots of $1 million or more since their Canadian debut in 2016. Wheel of Fortune slots have minted over 1100 millionaires and awarded over $3.5 billion in jackpots since their launch in 1996.
Gambling in the USA
Play’n GO Announces Expansion of Rush Street Interactive Partnership with Pennsylvania Launch on BetRivers Platform
Swedish gaming giants’ games now live with leading operator Rush Street Interactive Incorporated in Michigan, West Virginia, New Jersey and ‘The Keystone State’
Play’n GO, the world’s leading casino entertainment provider, has today announced further expansion of its partnership with leading United States operator Rush Street Interactive Incorporated (NYSE: RSI) (RSI), which operates the BetRivers platform. The Swedish gaming giant’s content is now available with BetRivers in Pennsylvania.
Play’n GO has already had great success with RSI via the BetRivers brand in Michigan, New Jersey and West Virginia and this expansion sees the partnership extend to a fourth United States state. This announcement follows Play’n GO’s procurement of a Pennsylvania license in March and will see BetRivers players in Pennsylvania gain access to some classic titles from the Play’n GO catalogue including Reactoonz and Boat Bonanza.
Play’n GO is now licensed in six United States states and is aiming to be active in every regulated market in the United States and around the world.
“We’re excited to expand our United States offering into the great state of Pennsylvania and are proud to do so with the innovative and well-respected team at BetRivers, with whom we’ve already enjoyed such great success in recent months,” the North America Commercial Director for Play’n GO, Magnus Natt och Dag, said. “Play’n GO is committed to a safe, sustainable entertainment-led industry and we know that the team at BetRivers shares that same vision.”
“We’re very happy to be expanding our partnership with Play’n Go into Pennsylvania on our BetRivers platform,” the Chief Executive Officer for RSI, Richard Schwartz, said. “Play’n Go has an impressive portfolio of popular titles and we are thrilled to offer our BetRivers PA players its innovative and top-quality games.”
To find out more about working with Play’n GO in the United States and other regulated markets, please visit PlaynGO. com.
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