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Pennsylvania Sportsbooks Hit Record $365 Million In Bets, Putting Nevada In Sight, According to PlayPennsylvania

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Pennsylvania Sportsbooks Hit Record $365 Million In Bets, Putting Nevada In Sight, According to PlayPennsylvania

 

Pennsylvania sportsbooks enjoyed their best month since the state launched the legal sports industry in November 2018 as the return of major sports helped unleash a wave of pent-up demand. Pennsylvania’s record $365 million handle could make it the No. 2 legal sports betting market in the country, according to PlayPennsylvania.

“In what has been a difficult year, August’s packed schedule of major sports helped Pennsylvania sportsbooks make up some of what was lost from pandemic-related shutdowns,” said Dustin Gouker, lead analyst for PlayPennsylvania.com. “It is remarkable to think that Pennsylvania could surpass Nevada, the nation’s most mature sports-betting market. The state’s online products have helped bridge a gap that at one point looked nearly insurmountable.”

Retail and online sportsbooks generated $364.99 million in wagers in August, up 121.5% from $164.8 million in July and up 234.7% from $109 million in August 2019, according to official data released Wednesday.

The growth in revenue was impressive, too. August’s handle produced $18.3 million in taxable revenue, up 124.3% from $8.1 million in July and up 198.8% from $6.1 million in August 2019. August’s revenue produced $6.2 million in state taxes.

Pennsylvania fell shy of Nevada’s $165.6 million handle in July, but its record-breaking August could top the Silver State — which will announce August data later this month.

“The continuing build-up of online and mobile sports betting, in addition to online casinos and poker rooms, is paying enormous dividends,” Gouker said. “Some gamblers appear to still be reluctant to visit casinos in person, and technology is bridging that gap.”

Online wagering accounted for 88.1%, or $321.6 million, of all bets in August. FanDuel Sportsbook at Valley Forge Casino was again the primary driver by accepting $144.6 million in online bets, a 110.3% gain from $68.8 million wagered in July. Those bets produced $8.9 million in taxable revenue, up 518.6% from $1.4 million in July.

The retail sector picked up steam in August with $43.4 million in bets, up from $9.4 million in July, to produce $2.8 million in revenue. Rivers-Philadelphia led retail books with $11.8 million in bets and $949,903 in gross revenue.

The online market could get another boost, too, with the kickoff of football and the launch of the Barstool Sportsbook App.

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“Barstool is the most intriguing launch since FanDuel and DraftKings entered the market, and could really move the needle,” said Valerie Cross, analyst for PlayPennsylvania.com. “It’s difficult to capitalize on such a busy sports schedule if bettors are limited in their online choices. The state’s gaming industry still has significant challenges, but its ability to entice so many online competitors has made the Pennsylvania market far more resilient.”

Online gambling

Online casino games and poker reached another all-time high in August with $55.9 million in gross operator revenue, or $1.8 million for the 31 days of August. That is up from July, when online gambling generated $54.4 million. All of August’s operator revenue resulted in a $15.8 million injection into state coffers and another $6.3 million in local share assessments.

“The continued growth of online casino revenue, even with opened retail casinos, shows that the industry has set a new standard for online gambling,” Cross said. “The popularity of these games should remain, and likely expand, over the next few months even as casinos steady.”

For more, www.playpennsylvania.com/news.

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 PlayPennsylvania

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QTech Games sharpens its LatAm focus with MINCETUR licence in Peru

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QTech Games sharpens its LatAm focus with MINCETUR licence in Peru

 

New certification for emerging-markets leader arrives ahead of key industry summit in Sao Paulo and awards recognition

QTech Games, the leading game aggregator for emerging markets, has had its platform and games successfully approved for the Peruvian market, demonstrating that its premier B2B platform and all-encompassing content conforms to the latest legislative updates to enhance and regulate Peru’s local gaming environment.

Peru’s Ministry of Foreign Commerce and Tourism (MINCETUR) has now issued an online gaming licence to QTech Games, whereby all its platform products and games are now deemed legally permitted. This includes its new software service for retail, QTech Hybrid, which allows land-based partners to scale their operations online. QTech Hybrid simplifies transactions by enabling deposits, withdrawals and gameplay while allowing access to players both in-shop and on personal devices.

This breakthrough hybrid solution has quickly won clients and awards in the comparably fragmented African market (most recently in March for Best Innovation at AGE Lagos), and now promises to do likewise across LatAm, where QTech Games has already signed several major clients for both its aggregation platform and its QTech Hybrid solution. This activity has seen it again nominated for Best Aggregator at the SiGMA Americas Awards, which kickstart the SiGMA Americas summit (7-10 April) next week, as the igaming world converges on Sao Paulo for a must-attend conference in another of QTech Games’ “focus markets” for 2025.

Philip Doftvik, QTech Games’ CEO, said: “It’s fantastic to have certified our aggregation platform in Peru via MINCETUR – and I’m pleased to say we have more such approvals pending across the continent. We attended fantastic events in Rio and, more recently, SAGSE 2025 in Buenos Aires – and anticipate more of the same at SiGMA Americas in Sao Paulo next week, where we’re also thrilled to have been shortlisted for Best Aggregator at their LatAm Awards. Given the venue, Brazil will be dominating the discussion for many at SiGMA Sao Paulo. However, we’ll also be looking beyond Brazilian borders this year, and are already active in Mexico, Chile, Colombia and Paraguay. We know our QTech Hybrid solution will work very well wherever we put a pin on the LatAm map.”

QTech Games delegates will be present at five more LatAm summits in 2025, with SiGMA Americas (7 April) the next port of call – followed by GAT Expo Cartagena (28 April), SBC Americas (13 May), Peru Gaming Show (18 June) and GAT Expo Mexico (28 Aug).

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BETBY STRENGTHENS LATAM PRESENCE THROUGH STRATEGIC PARTNERSHIP WITH CALÍMACO

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BETBY STRENGTHENS LATAM PRESENCE THROUGH STRATEGIC PARTNERSHIP WITH CALÍMACO

 

BETBY, an industry-leading sports betting provider, has announced a long-term partnership with CalĂ­maco, a premium B2B sportsbook supplier with a strong foothold across Latin America. This collaboration aligns with BETBY’s expansion strategy in the LATAM market, reinforcing its commitment to delivering state-of-the-art sportsbook solutions in the region.

As part of the agreement, Calímaco will integrate BETBY’s award-winning sportsbook solution, including its proprietary esports feed BETBY Games, and comprehensive trading and risk management services. Additionally, by leveraging BETBY’s AI-driven technology, AI Labs, Calímaco’s partners will gain access to an unparalleled betting experience tailored to the needs of the LATAM market.

Known for its scalable and robust casino and lottery platform, Calímaco will significantly enhance its offering with an additional 300,000+ events, 8,000+ markets, 125+ sports, and 35+ esports provided by BETBY, cementing its position as a go-to supplier in the region’s competitive iGaming landscape.

Stefanos Karakidis, Head of Business Development at BETBY, commented: “We are excited to partner with Calímaco, a company that shares our vision for technological excellence and operator-focused innovation. Integrating our complete sportsbook solution into Calímaco’s platform will enable brands across LATAM to elevate their sports betting offerings and provide their users with an exceptional experience.”

Alejandro Serrano, Head of Business Development at Calímaco, added: “BETBY’s sportsbook technology is renowned for its flexibility, scalability, reliability, and comprehensive coverage. Incorporating their award-winning solution into our platform will empower our partners with world-class sports betting capabilities, further strengthening our presence in the Latin American market.”

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GLIÂź Names Sangeeta Reddy as Vice President, Innovation

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GLIÂź Names Sangeeta Reddy as Vice President, Innovation

 

To ensure the company keeps its global clients well ahead of the technology curve, Gaming Laboratories International (GLI¼) has named Sangeeta Reddy as Vice President, Innovation. Previously, she served as Vice President of Engineering. Reddy will lead the company’s newly formed Innovation division.

“Technology is advancing at a breathtaking rate. Our mission at GLI is to advance with technology, while also constantly finding ways to do more to keep our clients informed and ahead of what’s next. In her new role, Sangeeta will continue to evolve our evaluation methodologies via her passion for R&D, her extensive experience both in and out of the gaming, and her strong academic background,” said President and CEO James R. Maida.

Reddy began her gaming industry career in 2001 as a PA Engineer at IGT, specializing in VLT, Slot games. She joined GLI in 2020. Prior to joining GLI, Reddy successfully managed Software QA and Development teams at Thomson Reuters and General Motors.

She holds a certificate from the Harvard Business Publishing’s Emerging Leaders program and a certificate in Associates Computer Information Systems. Her Postgraduate certification includes Chief Technology Officer Program, Business Analytics: From Data to Insights, and Driving Strategic Innovation: Leading Complex Initiatives for Impact from the Wharton School Aresty Institute of Executive Education and certifications in Cloud Computing, Artificial Intelligence and Machine Learning: Business Applications, Artificial Intelligence, and Data Science and Business Analytics from the Texas McCombs School of Business, Postgraduate Program.

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