Gambling in the USA
March Madness propels Iowa to new heights
IOWA SPORTSBOOKS SET WAGERING RECORD WITH $160 MILLION MARCH
March Madness propels Iowa to new heights, as race for market supremacy heats up, according to PlayIA analysts
(LAS VEGAS) — Iowa sportsbooks capitalized on the popularity of March Madness to set a fresh round of records with more than $160 million in wagering, a welcome result following February’s modest dip in handle, according to analysts for PlayIA, which tracks regulated online and retail gaming in the state.
“Iowa was one of the few legal sports betting jurisdictions to actually improve per-day betting in February, so it is no surprise that sportsbooks set new highs in March,” said Jessica Welman, an analyst for PlayIA.com. “With new operators coming online and the in-person registration requirement is long gone, the Hawkeye State is well-positioned ahead of the inevitable summer slowdown.”
In March, online and retail sportsbooks combined to take in $161.4 million in wagers in March, according to official data released Thursday. That is up 8% from $143.6 million in wagers in February and topped the record $149.5 million handle in January. The heavy action, much of which came from bets on the NCAA Tournament, helped Iowa set records for per-day betting average and revenue, too. Per-day betting hit $5.2 million in the 31 days of March, which was up from the record $5.1 million bet per day during the 28 days of February.
The record month resulted in $13.5 million in net receipts for sportsbooks, which was up from $7.7 million in February and broke the previous high of $11.3 million set in January. In all, March’s bets yielded $908,011 in state taxes, yet another new high.
Iowa and Drake combined for four games in the NCAA Tournament, which undoubtedly boosted interest in March. And the Iowa and Iowa State women’s basketball teams added five more NCAA Tournament games, which also helped spike interest in college basketball betting. But the main catalyst for Iowa’s growth over the first quarter of 2021 has been the removal of in-person registration requirements for online betting in January. Online betting captured $139.4 million in bets, or 86.3% of the state’s overall handle, in March. Compare that to December, the last month of in-person registration when 74.4% of a much smaller overall handle came from bets made online.
“Three months after removing the in-person registration requirements, Iowa has set new highs in wagering per day in each month, even bucking a national trend of declining bets in February,” said Dustin Gouker, an analyst for PlayIA.com. “Obviously the key reason for that is that registration is easier than it was last year, and that has opened the door to new customers across the state. Those customers have responded enthusiastically, and the success of Iowa and Drake this season gave Iowans added incentive to engage with a sportsbook.”
William Hill — which partners in Iowa with Prairie Meadows, Horseshoe Casino Council Bluffs, Isle Casino Hotel Waterloo, Isle of Capri Bettendorf, Lakeside, and Harrah’s Council Bluffs — narrowly led the market with $49.5 million in retail and online handle, which included $43 million in online wagers in March. That produced $2.3 million in receipts from online betting alone.
But the two largest sportsbooks in the country continue to gain ground in Iowa. The Wild Rose license, which is anchored by DraftKings but includes BetRivers, came in second with a $44.3 million total handle and topped online betting with $43.7 million, which led to a market-best $3.6 million in net receipts from online betting. FanDuel and BetMGM helped put Diamond Jo in third place with $42.8 million in bets, including 37.7 million in online bets. Online betting netted $2.9 million in receipts .
Retail betting generated $22.1 million, up from $18.4 million in February.
“It will not be easy for William Hill to fend off DraftKings and FanDuel,” Welman said. “The two largest sportsbooks in the country have brought a lot of marketing know-how to the state, and that has led to continued gains. Ultimately, though, bettors are the beneficiaries as they all compete for attention.”
For more information and analysis on regulated sports betting in Iowa, visit PlayIA.com/news.
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.”
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.
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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