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Indiana Sportsbooks Impress with $169 Million August as Industry Turns 1, According to PlayIndiana

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Indiana’s sports betting industry capped its tumultuous first year on a high note by posting one of its best months yet. With a full month of major sports, Indiana’s online and retail sportsbook generated $169 million in wagers, seemingly keeping the state’s increasingly tenuous place as the fourth-largest legal market in the U.S., according to PlayIndiana.

“A rebound was inevitable with such an active sports schedule in August, but seeing such an active month is awfully welcome news for Indiana’s sports betting industry,” said Dustin Gouker, lead analyst for PlayIndiana.com. “August’s results are a clear signal that we are turning the page on its darkest days. The state’s status among legal jurisdictions is relatively safe for now. But Indiana also faces some headwinds, including increased competition in Illinois and Michigan.”

Indiana’s August handle was the state’s third-largest monthly total since the industry launched on Sept. 1, 2019, and the largest since sportsbooks generated a record $187.2 million in February, according to official reporting released Friday.

August’s bets produced $9.8 million in adjusted gross revenue, up 47.7% from July, and yielded $934,314 in tax revenue for the state.

Through the industry’s first 12 months, Indiana produced:

  • $1.2 billion in wagers
  • $94.8 million in adjusted gross revenue
  • $9 million in state taxes

Through those 12 months, Indiana trailed only NevadaNew Jersey, and Pennsylvania in total wagers. But Indiana’s next 12 months will bring more challenges.

“This has been an eventful first year for Indiana sportsbooks, and increasing competition from neighboring states and rapidly growing jurisdictions such as Colorado will continue to put pressure on Indiana’s status,” said Jessica Welman, analyst for PlayIndiana.com. “An Illinois expansion of online betting could really affect Indiana. In that case, the state’s sportsbooks will have to be creative in attracting new bettors within the state to help blunt the loss of the Chicago market. And Indiana is still in position to capitalize on large markets in Ohio and Kentucky.”

The positive effect of a busy sports schedule in August was immediate. Basketball generated $55.2 million in bets, the most of any sport in August.

“The positive attributes of Indiana’s market never went away while the sports world ground to a halt,” Gouker said. “Even as competition grows, Hoosier State sportsbooks will remain popular so long as the sports schedule stays active.”

Online betting generated 85.1%, or $143.9 million, of August’s handle. That is down from 91.1% in July as retail sportsbooks continue to work to regain their footing.

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DraftKings/Ameristar Casino remained the online market leader with $73.7 million in bets, up from $32.9 million in July. That produced $5.2 million in gross receipts, up from $2.2 million July. FanDuel/Blue Chip Casino followed with $50.1 million in bets, up from $24.2 million.

Retail sportsbooks picked up in August, generating a $25.1 million handle in August. Hollywood Lawrenceburg’s $6.9 million handle easily led the retail market.

“Even though Indiana’s industry is 1, it is still gaining maturity,” Welman said. “Online sportsbooks like BetIndiana and theScore Bet are expected to launch soon, and the growth of major players like PointsBet and BetMGM have been stunted because they launched just before the shutdown. The more sportsbooks that launch in the state, the higher the level of competition will become, and that will be good for bettors.”

For more information, visit PlayIndiana.com/revenue.

About the PlayUSA.com Network:

The PlayUSA.com Network and its state-focused branches is a leading source for news, analysis, and research related to the market for regulated online gaming in the U.S.

 

SOURCE PlayIndiana.com

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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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