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Gambling in the USA

Expected Economic Benefits Help Grow the Popularity of Online Gambling

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Astralis Capital among second round investors as Sports Gambling Guides receives an additional $2M in funding

 

The swing to a more favorable attitude towards online gambling businesses is noticeable across the board. According to data published by the American Gaming Association (AGC), Americans’ views of the casino gaming industry improved in 2020 as voters increasingly recognize the industry’s economic benefits and commitment to local communities. Nearly 7 in 10 (69%) Americans say that gaming provides a positive benefit to the U.S. economy and 63% agree that the industry provides high-quality jobs. Dustin Gouker, Lead Analyst for PlayPennsylvania.com, explained that “there are a lot of positive signs right now as sportsbooks and online casinos continue to gain steam, and hopefully, the state’s brick-and-mortar casinos begin to regain their footing. If things do return to normal, the gaming industry should see significant gains across the board in 2021. Casino closures have certainly spurred online casinos and online sportsbook betting, which will provide some long-term benefits for the industry.” Bragg Gaming Group Inc., Scientific Games Corporation, International Game Technology PLC, DraftKings Inc., Elys Game Technology Corp

The more favorable attitude towards sports betting and online gambling is a trend that had started before the pandemic but was accelerated due to its effects. To illustrate just how popular online sports betting is in states where the market can already operate, according to data from Odds.com, which was published by Forbes, Illinois was poised to generate upwards of USD 73 Million in taxable revenue if the estimates of a USD 488 Million annual market come to fruition.

Bragg Gaming Group Inc. announced this week that Richard Carter will be assuming the role of CEO from the company’s founder Adam Arviv, effective May 1st. Carter brings five years of experience as CEO at the interactive sports betting provider SB Tech. In april of 2020, Carter left after a successful 3.3 billion dollar merger with DraftKings and a major American acquisition corp.

With years in the industry under his belt, Carter is well equipped to take on this new role.

“I’m excited to lead Bragg on our mission to become a significant force in the B2B gaming space.” Said Carter in a statement this Wednesday. “2020 has been a very successful year for the company and we are well-positioned to maintain this momentum into 2021 and beyond.”

2021 has definitely been a busy year for Bragg Gaming Group so far with significant expansion into European markets and major partnerships including the largest Swiss casino operator. Carter made it clear the company has plans to maintain this growth.

“We will continue to grow and broaden the business in our core European markets, while at the same time starting to accelerate our investment and focus on the fast-growing North American iGaming market. Now is the right time to break into this market, and we look forward to building our cutting-edge technology, data insights, and exclusive casino gaming content to the market.”

The innovative gaming solution provider has been making waves in the iGaming industry with their unique business model. Bragg offers “plug and play” style gaming solutions which has allowed them to expand on a global scale. This scalability has evidently been effective for the company which has seen impressive returns. In the past 2 years alone, Bragg Gaming has increased its customer base by over 300% with revenue growth up 74% in the first 9 months of 2020. As a further testament to Bragg’s success, the company says they haven’t lost a customer in 5 years.

The field iGaming is one to watch this year and Bragg Gaming Group is quickly establishing itself as a leading force in the industry. You can find out more about their financials on the companies “investors” page.

Scientific Games Corporation and International Game Technology PLC, announced on March 1st, that they have signed a cross-licensing agreement for patents related to cashless slot gaming technologies. Under the agreement, Scientific Games and IGT will be able to offer patented cashless gaming technologies from the companies’ combined portfolios of casino management systems solutions to the U.S. gaming industry. Financial terms of the agreement have not been disclosed. “This cross-licensing agreement provides casino operators access to the gaming industry’s most compelling portfolio of cashless gaming technologies. We have made significant R&D investments over many years to develop this comprehensive suite of intellectual property in the cashless space. It makes revolutionary improvements to the player experience and represents the greatest advancement in cashless payments since the introduction of Ticket-In, Ticket-Out (TITO),” said Renato Ascoli, IGT CEO Global Gaming. “Cashless gaming is here to stay, and this strong portfolio of cashless IP can help casino operators ensure the safety of players by reducing cash handling and points of contact with slot games, while considerably improving casino operating efficiencies.”

International Game Technology PLC announced last year that its leading PlaySports platform will power world-class retail sports betting at Maverick Gaming’s three Colorado-based casinos as well as interactive sports betting throughout Colorado via Play Maverick Sports. Through a multi-year agreement with Maverick Gaming, IGT will provide its proven PlaySports turnkey solution including user-friendly self-service PlaySports kiosks, to Grand Z Casino and Johnny Z’s Casino in Central City, Colo. and Z Casino in Black Hawk, Colo. The IGT PlaySports platform, complete with a fully integrated Player Account Management (PAM) solution, will also power Maverick Gaming’s “Play Maverick Sports” mobile sports wagering app.

DraftKings Inc. reported last month fourth quarter and full-year 2020 financial results. For the three months ended December 31st, 2020, DraftKings reported revenue of USD 322 Million, an increase of 146% compared to USD 131 Million during the same period in 2019. “With a favorable fourth quarter sports calendar and strong marketing execution, DraftKings was able to generate tremendous customer acquisition and engagement that propelled us to USD 322 Million in fourth quarter revenue, a 98% year over year increase,” said Jason Robins, DraftKings’ co-founder, CEO and Chairman of the Board. “In the fourth quarter of 2020, we saw MUPs increase 44% to 1.5 million and ARPMUP increase 55% to USD 65. We are raising our revenue outlook for 2021 due to our expectation for continued growth, the outperformance of our core business and newly launched states that were not included in our previous guidance.”

Elys Game Technology Corp commented last month on the status of legislation, Bills C-218 and C-13, to legalize single-event sports betting in Canada. The Company is continuing to monitor legislative developments regarding Bill C-218 that passed on February 17th with overwhelming bi-partisan support by a margin of 303 votes in favor to 15 votes against. Bill C-218 is now proceeding to hearings before the Justice Committee. Meanwhile, Bill C-13, an Act to Amend the Criminal Code, a similar bill regarding the legalization of single-event sports betting, is anticipated to be taken up by the House of Commons in the near future with additional hearings set for March 9th and 11th.

SOURCE FinancialBuzz.com

Gambling in the USA

Pace-O-Matic Granted Access to Additional Eckert Seamans Logs

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Pace-O-Matic (POM), the leading skill game developer who conducts significant business throughout Pennsylvania, yesterday released the following statement following an order from the United States District Court for the Middle District of Pennsylvania. The order grants POM additional access to Eckert, Seamans, Cherin & Mellott, LLC’s privileged logs regarding the representation of casinos against skill games.

This decision overrules an appeal by Eckert Seaman Cherin & Mellot, LLC to exclude 120 documents from being produced. The Federal Court has ruled that 116 of those documents should be produced, 3 documents should be produced with redactions, and just 1 document shall not be produced.

“This is another victory for Pennsylvania small businesses and fraternal clubs, our skill game players, and POM as we work to uncover the extent of damage Eckert has done our business. We are pleased the court continues to rule in favor of openness and transparency concerning Eckert’s repeated attempts to shield their nefarious behavior.”

This news comes just days after skill games were declared legal games of skill by the Commonwealth Court of Pennsylvania.

“With the Commonwealth Court affirming POM’S Pennsylvania Skill’s legal status, Eckert’s actions are even more appalling. Eckert repeatedly misrepresented POM’s legal status in Pennsylvania, falsely asserting to lawmakers, local elected officials, regulators, and the public that our skill games were illegal slot machines. Eckert’s deliberate misrepresentation of our skill games has caused significant harm to our business and our industry. Thankfully the bright lights of justice are being shined upon their actions and we look forward to exposing the depths of their actions.”

POM’s lawsuit alleges that Eckert Seamans Cherin & Mellott, LLC, a Pennsylvania-based law firm deceived its client, POM, while at the same time representing a Pennsylvania casino that opposed POM’s operations in the Commonwealth and launched lawsuits against POM.  When confronted with the conflict of interest, Eckert first denied the conflict, then swore to a Federal District Court they would not engage in a conflict, then continued to work surreptitiously against POM and POM’s interests.

Eckert is a major law firm that has more than 300 lawyers across a network of 15 offices, including Philadelphia, Harrisburg, Pittsburgh, Boston, Washington, DC, and Richmond, VA.

The lawsuit contends that Eckert “took up arms” against POM on behalf of the Philadelphia-based Parx Casino; that Eckert “actively participated in and covertly manipulated litigation” in Pennsylvania Commonwealth Court adverse to POM’s interests; and that Eckert participated in a campaign intended to “destroy POM’s business by attempting to convince elected and appointed public officials that POM’s games are gambling devices that should be seized and outlawed.”  Eckert used its influence to improperly target the Pennsylvania Gaming Control Board.

When confronted by POM’s allegation that Eckert was double-dealing and had breached its professional duties of loyalty and confidentiality, Eckert denied the claim, while seeking to shield the law firm’s emails with the Parx Casino. These emails, if made public, reveal that numerous lawyers at Eckert, led by Mark Stewart, co-chair of Eckert’s gaming practice group, were indeed simultaneously taking money from and representing the Parx Casino.

Parx Casino calls itself “the #1 casino in Pennsylvania” and is owned and operated by Greenwood Racing Inc.

Eckert, working at the behest of Parx Casino and its consultants, sought to block Pace-O-Matic from doing business in Pennsylvania.

The suit also alleges that Eckert “violated their most basic fiduciary duties and concealed and misrepresented material facts to POM’s great detriment.  As a result, POM is entitled to appropriate damages.”

In November 2021, US Magistrate Judge Joseph Saporito, Jr. found that Eckert acted in “bad faith” by seeking to withhold emails that demonstrated Eckert was representing both sides.

Eckert, Saporito ruled, “actively and clandestinely managed and participated in the representation of Parx in the Commonwealth Court litigation against its other client, POM. Moreover, based on our in-camera review of the purportedly privileged documents, it did so with full knowledge that the conflict asserted by POM precluded its active and continuing representation of Parx in the Commonwealth Court litigation.”

Saporito continued, “in light of the clear and obviously intentional subterfuge demonstrated in the purportedly privileged documents, we have no difficulty concluding that these documents evidence an intent by Stewart and Eckert to play fast and loose with the courts”.

Eckert appealed Jude Saporito’s ruling, which required Eckert to turn over to POM many internal emails. On July 5, 2022, Federal Judge Jennifer P. Wilson ruled for POM, declaring, “in making inconsistent representations to the court, Eckert has attempted to obstruct the discovery process as to the central issue in this case: whether Eckert breached its fiduciary duty to POM by representing Parx, a party with adverse interests, at the same time that it represented POM.”

POM is a leading developer of games of skill in the United States. Its games are played in thousands of small restaurants and bars, along with many social halls such as American Legion and Veterans of Foreign War posts.  POM games generated millions of dollars in revenue for businesses and clubs in Pennsylvania last year.

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Gambling in the USA

ILLINOIS LOTTERY REMINDS PLAYERS ‘TIS THE SEASON TO GIFT RESPONSIBLY

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With the holiday gift-giving season underway, the Illinois Lottery is reminding players that lottery games are for grown-ups – not kids.

This holiday season, the Illinois Lottery is once again partnering with the Illinois Council on Problem Gambling(ICPG) in the Gift Responsibly Campaign. The annual holiday campaign, spearheaded by the National Council on Problem Gambling, is designed to increase public awareness of the impact and inappropriateness of giving lottery products as gifts to minors.

“Lottery products, especially Instant Tickets, are a popular gift during the holiday season but they are not an appropriate gift for those under the age of 18,” said Harold Mays, Illinois Lottery Director. “Responsible gaming is an integral part of the Illinois Lottery, and we are pleased to once again support the Gift Responsibly Campaign this holiday season by reminding players that lottery games are for adults only.”

The Illinois Lottery joins a network of more than 80 national and international lotteries encouraging players to gamble responsibly and to help keep the holiday season festive by gifting lottery tickets only to adults. Non-lottery organizations are also participating in the campaign as an effort to increase awareness of the risks of underage lottery play during the holiday season.

“Studies have shown that gambling at an early age can increase the risk of problem gambling later in life, including a strong association between age of gambling onset and problem gambling severity among those who receive lottery tickets,” said Dave Wohl, Executive Director at ICPG. “We value our partnership with the Illinois Lottery and applaud their commitment to raise awareness about the risks of youth gambling through the Gift Responsibly Campaign.”

In addition to the Gift Responsibly campaign, the Illinois Lottery promotes responsible play year round by reminding players to Be Smart, Play Smart®. Players are encouraged to play for fun, not funds, and to set a budget and stick to it. For more information on how to play and gift responsibly, please go to the Illinois Lottery website and visit the Responsible Gaming page.

If you or someone you know may be experiencing problems when playing lottery games, please call 1-800-GAMBLER. This toll-free helpline is answered by trained specialists 24/7/365.

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Gambling in the USA

Online Gambling Market Size Worth USD 184.28 Billion in 2032 | Emergen Research

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The global online gambling market size was USD 63.53 Billion in 2022 and is expected to register a steady revenue CAGR of 11.3% during the forecast period, according to latest analysis by Emergen Research. Rising demand for online gambling, due to convenience and accessibility for players is a key factor driving market revenue growth. Online gambling is the act of playing chance games or betting on various events over the Internet. Players can use their devices to access these platforms and enjoy a wide variety of games and betting possibilities from anywhere at any time. Online gambling encompasses casino games, such as slots and poker, as well as sports betting on activities including football or horse racing. Online gambling platforms are accessible 24 hours a day, seven days a week, making these ideal for gamers with hectic schedules.

In addition, increasing Internet penetration and rising usage of mobile phones among individuals are other key factors driving revenue growth of the market. Mobile-optimized games with touch-screen controls are prevalent in virtual casinos, catering to the interests of handheld device users. Social media channels are used by online casinos to actively engage with players. Moreover, online gaming platforms are more feature-rich, with better visuals and faster load times, which provides players with a more intense and lifelike experience, hence driving market revenue growth. However, gambling addiction is a severe problem that affects a large number of people, and it can lead to financial difficulties, social isolation, and even depression, which could restrain market revenue growth. People who are addicted to online gambling may spend a significant amount of money even when they cannot afford it.

Scope of Research

Report Details Outcome
Market Size in 2022 USD 63.53 Billion
CAGR (2023–2032) 11.3%
Revenue Forecast To 2032 USD 184.28 Billion
Base Year For Estimation 2022
Historical Data 2019–2021
Forecast Period 2023–2032
Quantitative Units Revenue in USD Billion and CAGR in % from 2023 to 2032
Report Coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments Covered Type of gambling, platform type, gaming model, mode of payment, and region
Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Country Scope U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa
Key Companies Profiled Bet365, 888 Holdings Plc, Betway, Flutter Entertainment plc, Bwin, unibet, Playtech, Microgaming, NetEnt AB, Evolution AB, IGT, NOVOMATIC AG,  Scientific Games, Yggdrasil Gaming Ltd, Pragmatic Play, Play’n GO, BETSSON AB, StarsGroup .com, Kindred Group plc, and Entain
Customization Scope 10 hours of free customization and expert consultation

 

Major Companies and Competitive Landscape

The global online gambling market is fragmented with large and medium-sized market players accounting for the majority of revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, developing, testing, and introducing more effective gambling solutions in the market. Some major players included in the global online gambling market report are:

  • Bet365
  • 888 Holdings Plc.
  • Betway
  • Flutter Entertainment plc.
  • Bwin
  • unibet
  • Playtech
  •  Microgaming
  • NetEnt AB
  • Evolution AB
  • IGT
  • NOVOMATIC AG
  •  Scientific Games
  •  Yggdrasil Gaming Ltd.
  • Pragmatic Play
  • Play’n GO
  • BETSSON AB
  • StarsGroup .com
  • Kindred Group plc.
  • Entain

Strategic Development

  • On 17 August 2023, MGM Resorts International announced the debut of its BetMGM iGaming and online sports betting brand in the UK, marking the beginning of MGM Resorts’ strategy to grow the BetMGM brand into international markets. The new international BetMGM-branded product makes use of LeoVegas’ technology and platform, which was acquired by MGM Resorts last year.

 

Some Key Highlights From the Report

  • The casino gambling segment accounted for largest revenue share in the global online gambling market in 2022. This is due to rising demand for online casinos since these allow to avoid all of the unnecessary inconveniences while playing from the comfort of home w. Online casinos are regulated by regulatory authorities to ensure fair gaming practices, giving players a safe and trustworthy atmosphere to enjoy their favorite games, as a result, players can focus on the fun of online gambling without worrying about security of their transactions or. In addition, online casinos provide several bonuses to new players who join the site, as well as daily promotions to keep things exciting for returning players, which is also  expected to drive revenue growth of this segment during the forecast period.
  • The sports betting segment is expected to register steadily fast revenue growth rate in the global online gambling market during the forecast period due to rising demand for online sports betting among individuals. This real-time action adds a new level of excitement to the game, allowing individuals to react to changing conditions and make smart decisions. Live streaming of sports and matches is frequently accessible, allowing one to carefully follow the action and improve betting experience.
  • The Europe market accounted for largest revenue share in the global online gambling market in 2022. This is attributed to rising mobile gaming apps and mobile-responsive websites, which has made it easy for individuals to gamble on the go. In addition, shift toward more favorable regulations for online gambling in countries, such as Germany and the UK, is another factor driving market revenue growth of this region. For instance, on 1 July 2021, the new State Treaty on Gambling entered into force, which enable online slot machine games, Internet casinos, and online poker in Germany.

 

Emergen Research has segmented the global online gambling market on the basis of type of gambling, platform type, gaming model, mode of payment, and region:

  • Type of Gambling Outlook (Revenue, USD Billion; 2019–2032)
    • Casino Gambling
      • Slot Machines
      • Table Games
    • Sports Betting
    • Poker
    • Bingo
    • Lottery and Scratch Cards
    • eSports Betting
    • Fantasy Sports
    • Social Gaming
  • Platform Type Outlook (Revenue, USD Billion; 2019–2032)
    • Desktop
    • Mobile
    • Apps
    • Browser-Based
  • Gaming Model Outlook (Revenue, USD Billion; 2019–2032)
    • Real Money Gambling
    • Free Play
  • Mode of Payment Outlook (Revenue, USD Billion; 2019–2032)
    • Credit/Debit Cards
    • E-wallets
    • Cryptocurrencies
    • Bank Transfers
    • Prepaid Cards

Mobile Payments

  • Regional Outlook (Revenue, USD Billion; 2019-2032)
    • North America
      1. U.S.
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. France
      3. UK
      4. Italy
      5. Spain
      6. Benelux
      7. Rest of Europe
    • Asia Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. UAE
      3. South Africa
      4. Turkey
      5. Rest of Middle East & Africa
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