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PlayColorado.com: Sports betting grows in June, setting up July surge

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PlayColorado.com: Betting volume grows ahead of fall surge

 

Colorado sportsbooks again capitalized on interest in nontraditional sports to produce modest gains in June, but the uptick will likely pale in comparison to an expected July surge powered by the return of major North American sports, according to PlayColorado.

“Considering Colorado’s online sportsbooks launched in the middle of a pandemic that had all but shut down major sports, the first two months of sports betting have surpassed expectations,” said Dustin Gouker, lead analyst for PlayColorado.com. “That quick start should have Colorado’s online sportsbooks well-prepared for a much higher level of engagement, which is already happening.”

In Colorado’s second full month of legal online sports betting, online sportsbooks generated $38.1 million in wagers, up 49% from $25.6 million in bets in May, according to official reporting released Tuesday. That resulted in $34.7 million in payouts, a 50% uptick from $23.1 million in May.

In all, June produced operator revenue of $2.2 million, up from $946,741 in May. That yielded $217,023 in state taxes.

With Major League Baseball in play, the NBA close to its Orlando restart, the NHL set to drop the puck in early August, and the NFL season looming, the sports-betting environment should change drastically in the coming weeks.

Futures bets, particularly on baseball and the NBA, have been brisk in July, according to PlayColorado sources. And in Colorado, local betting interest — on the Rockies, Nuggets, and Avalanche — should only help drive championship wagering in the days ahead.

“Colorado is home to two legitimate championship contenders in the Denver Nuggets and Colorado Avalanche, and that will almost certainly draw significant action,” Gouker said. “In this environment, things can change quickly. But pent-up demand, the start of the Colorado Rockies season, and the restart of basketball should push July to something more closely resembling a normal month.”

Since online sportsbooks launched May 1, Colorado’s sports bettors have been getting by on less conventional sports. Table tennis again drew the most wagers with $9.1 million in June, accounting for one-quarter of the state’s handle for the month and resulting in $8.6 million payouts. In May, table tennis drew $6.6 million in bets.

In addition, bettors had been limited to online sportsbooks. While the majority of all bets will continue to be made online, the slow opening of retail sportsbooks across the state will offer new areas of engagement.

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“Sportsbooks have been creative in engaging bettors, and that will help when major U.S. sports restart,” Gouker said. “Retail sports betting sites will help, too. July and August should be exciting months for the industry.”

For more information and analysis on regulated sports betting in Colorado, visit PlayColorado.com/news.

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THE UNIT TO STEP UP EXPANSION PLANS WITH OPENING OF NEW YORK CITY OFFICE

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THE UNIT TO STEP UP EXPANSION PLANS WITH OPENING OF NEW YORK CITY OFFICE

 

The Unit aims to grow its presence in the Americas with move to new Manhattan location in January 2025 at Bank of Ireland’s NYC Hub


The Unit, a leader in product design and development for sports betting and iGaming, will proudly open its new office in New York City, as part of its long-term global expansion objectives, in January 2025.

The Americas division was established in 2023 with the launch of The Unit’s partnership with online operator PlayStar Casino. The New York City office, located in the heart of Manhattan, will now be the hub for The Unit’s activity in the Americas.

This new base will be located at Bank of Ireland’s NYC Hub, which was launched to help Irish business owners expand their North American operations. The offices at 2 Grand Central Tower are a great asset to Irish companies aiming to expand their operations in the United States and beyond. This is an ideal location for The Unit to grow its footprint in the region.

The project will be put into practice by The Unit’s Head of Business Development & Account Management Mark O’Hare, who has relocated to New York and will be responsible for The Unit’s commercial growth in the region.

With product and development teams in Ireland and Moldova, the addition of an American hub is further proof The Unit holds an unwavering commitment to becoming the partner of choice, on a global scale, throughout the industry.

Paddy Casey, Co-founder at The Unit, said: “These are exciting times for The Unit, and with plans in place to exponentially grow our presence in the Americas across the next few years, the start of 2025 will be the perfect time for us to move into one of the most vibrant cities in the world.

“This will be the ideal addition to our existing bases in Ireland and Moldova. The flexible workspace the hub can provide will be integral to our plans and will give us the opportunity to grow the team.

“This is an excellent opportunity for us to touch base with clients in the Americas and strategise further launches. We’re looking forward to mapping out our future in the region with our team on the ground there.

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“I would like to thank Mark O’Hare for making the move to New York, and I’m sure both he and his team will have the skills and experience to execute our vision for the Americas division across the long-term.”

Tania Sheikh, Manager of NYC Hub for Bank of Ireland, said: “We are very pleased to welcome The Unit to the NYC Hub. The facilities we can provide have helped businesses scale up and connect with their partners, and we are proud to offer that opportunity to The Unit.

“We look forward to hosting The Unit and wish them well in their endeavors to grow their business here.”

The Unit has solidified its strong track record of building world-class, scalable and efficient products for the sports betting and iGaming sector in recent years.

As The Unit embarks on this exciting period of growth, the company remains committed to delivering exceptional products and services to its clients. With its experienced team, best-in-class product development capabilities, and focus on innovation, The Unit is poised to shape the future of the sports betting and iGaming industries.

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Golden Matrix Group to Participate in the 2025 ICR Conference

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Golden Matrix Group to Participate in the 2025 ICR Conference

 

Golden Matrix Group Inc., a developer and licensor of online gaming platforms, systems, and gaming content, today announced that management will participate in the 2025 ICR Conference on January 13-15, 2025 at the Grande Lakes Resort in Orlando, FL.

Zoran Milosevic, Chief Executive Officer of Meridianbet, will participate in a fireside chat with an equity research analyst on Monday, January 13, 2025, at 2:30 PM ET and will also be available for meetings during the conference.

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Be #GiftSmart: Scratch the Idea of Gifting Scratch & Win Tickets to Kids

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Be #GiftSmart: Scratch the Idea of Gifting Scratch & Win Tickets to Kids

 

BCLC reminds adults to gift responsibly this holiday season

With the holiday season in full swing, BCLC is reminding British Columbians to gift responsibly and scratch lottery products from their shopping lists for kids.

“Scratch & Win tickets can make great stocking stuffers for the adults in your life, but they’re not for kids,” said Ryan McCarthy, BCLC’s Director of Player Health. “The research shows that children who have early encounters with gambling are four times more likely to develop riskier gambling behaviour as they grow up. While people are out shopping for those last-minute gifts, BCLC wants adults to be aware of the potential risks associated with gifting lottery products to children and to consider safer alternatives.”

While Scratch & Win tickets are among the most common ways kids can be introduced to gambling, children are increasingly exposed to various online forms, such as gambling streams.

“With the convergence of gaming and gambling, youth are becoming more exposed to gambling content in online spaces like streaming sites, where creators are able to live-stream their own gambling, usually while playing online slots and instant games,” said Dr. Luke Clark, Director for Gambling Research at UBC. “Our research at the UBC Centre for Gambling shows that a higher frequency of watching online gambling streams is associated with a more positive attitude towards gambling and a high intention to gamble in the future.”

In B.C., it is illegal to sell lottery products to anyone under the age of 19 and BCLC encourages adults to have conversations with the kids in their lives about the risks associated with gambling.

“Open and honest conversations are crucial when it comes to navigating childhood exposure to gambling,” said McCarthy, who shared the following tips to adults:

  • Monitor for gambling-related lifestyle changes. For example, developing a positive attitude towards gambling or a preoccupation with video games or streaming sites.
  • Be a positive role model. Exhibit safer gambling behaviour and talk about the risks.
  • Limit exposure. Monitor kids’ online activities and discourage engagement with gambling content. Explain how gambling is based on chance.
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