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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.

“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

Latin America

THE WINNING BET: NAVIGATING BRAZIL’S EVOLVING SPORTS BETTING MARKET

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BETBY, a leading provider of sports betting solutions, is pleased to announce the release of a comprehensive industry report titled “The Winning Bet: Navigating Brazil’s Evolving Sports Betting Market”. This insightful report provides a deep dive into the intricacies of Brazil’s dynamic sports betting landscape, offering valuable insights for businesses looking to capitalize on this burgeoning market.

The report covers various key aspects, including:

· Historical background of sports betting regulations in Brazil;

· The state of digital connectivity in Brazil, including internet usage and mobile connectivity;

· In-depth analysis of player betting behavior, revealing trends and preferences among Brazilian sports bettors;

· Market potential and growth projections for the Brazilian sports betting industry;

· Recommendations for businesses aiming to succeed in the Brazilian market.

With Brazil’s recent regulatory changes opening up new opportunities in the sports betting sector, understanding the nuances of the market has never been more critical. This report equips businesses with the knowledge and insights needed to navigate Brazil’s evolving sports betting landscape successfully.

For businesses seeking to establish a presence or expand their operations in Brazil’s sports betting market, Betby offers tailored sportsbook solutions and expertise to meet their needs.

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Hacksaw Gaming Scores Again in New Market – Another Exciting Launch with Betsson Group to Fire Up Buenos Aires!

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Hacksaw Gaming Scores Again in New Market - Another Exciting Launch with Betsson Group to Fire Up Buenos Aires!

 

Following a long standing partnership formed in 2021, Hacksaw Gaming and Betsson Group have surpassed some major milestones together. Showcasing our vibrant portfolio of games in markets such as the UK, Croatia, Greece, Italy, Denmark, Estonia and Mexico, our relationship with Betsson is an ever developing one.

Buenos Aires is a vibrant regulated market with significant potential for growth within the digital online gaming community. Players can now enjoy unique and innovative games such as Wanted Dead or a Wild, Le Bandit and R.I.P City for the first time ever, and we can’t wait for them to immerse themselves in the Hacksaw experience.

Impressively, this is our third expansion with Betsson in the last 4 months, having gone live with many fan favourites in both Croatia, Spain and now Buenos Aires. Equally noteworthy, looking at Betsson’s multiple brands Nordicbet, Betsafe, Europebet, Starcasino.IT and Casinoeuro to name a few, it’s not difficult to see why they’re one of the biggest fish in the vast online gaming ocean.

Founded in 1963 and starting off their industry leading operations with just a humble slot machine, Betsson Group is now an industry pioneer with licences in 23 jurisdictions. “We couldn’t be more thrilled to mark another pivotal moment in our partnership with Hacksaw Gaming.” Kevin Saliba – Commercial Director, Business Development went on to say, “This latest launch not only strengthens our bond but also promises to elevate the gaming experience for our players in Buenos Aires, who are in for a treat with Hacksaw’s exceptional portfolio of games.”

Marcus Cordes, Hacksaw Gaming CEO is just as delighted with the growth – “Expanding on what Betsson has stated, we’re elated to extend our game offerings to yet another jurisdiction of their esteemed players. Looking toward the journey ahead, we’re eager to further enrich their gaming experience in the days to come.”

Looking forward we can only imagine the possibilities ahead with Betsson.

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Latin America

Elevating Colombia’s iGaming: Amusnet Partnership with WPlay

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Amusnet Partnership with WPlay

 

Amusnet, is enhancing its presence in Colombia through a strategic partnership with WPlay – the country’s highly recognized online casino and sports betting website. The collaboration represents a synergy of expertise and resources, combining innovative gaming solutions with established presence and market knowledge.

“We are thrilled to collaborate with one of the leading operators in Colombia. Together, we aim to deliver unparalleled gaming experiences to players in Colombia and beyond, setting new standards of excellence in the industry. This new partnership signifies a mutually beneficial agreement to all stakeholders, particularly our valued players,” Daniel de los Ríos, Commercial Manager Latam of Amusnet.”

The CEO of WPlay, Julio Cesar Tamayo, comments: “We are pleased to have Amusnet’s games on WPlay. We understand the importance of this provider on an international level and the interest it generates among Colombian players. Looking forward to achieving great results together!”

Currently, Amusnet has over 40 live games available at wplay.co. The company anticipates expanding this number to 70 by next month to reach 100 live games by the end of the year. Players can enjoy some of our most popular and well-performing online casino slots. 40 Super Hot, Burning Hot and Shining Crown are only a few examples of the continuously growing portfolio of Amusnet games offered on the WPlay website.

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