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PlayIndiana.com: Sportsbooks shatter record with $230 million in October

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ILLINOIS SPORTSBOOKS HIT RECORD $840 MILLION IN BETS IN OCTOBER Football, basketball betting spurs records for handle, revenue, and tax revenue as end of in-person registration requirements approaches, according to PlayIllinois

 

Indiana sportsbooks enjoyed a record-shattering October, setting highs in revenue and handle, as bettors were spurred by local interest in the NFL and the return of Big Ten football. In a month that resembled a normal sports schedule more than any month since the pandemic began, October’s handle was more than $230 million, a sign that Indiana’s recent gains are sustainable, according to analysts from PlayIndiana.

“With a schedule that was more comparable to an ordinary October, Indiana’s sportsbooks fared well and offered a clearer read on where Indiana’s market stands,” said Dustin Gouker, lead analyst for PlayIndiana.com. “Interest in the Indianapolis Colts, Indiana University, and Notre Dame is helping as the state transitions from a market that relies on Chicago to one that is more reliant on local bettors.”

Without a once-in-a-lifetime schedule to drive interest, as was the case in September, bettors still made $230.9 million in bets in October, according to official reporting released Tuesday. That breaks the record $207.5 million hit in September and is up 151.8% from $91.7 million in October 2019.

October’s bets also produced a record $21.1 million in adjusted gross revenue for the state’s operators. That is up 82.9% from $11.5 million in October 2019 and easily surpassing the record $14.3 million in revenue generated in September. The month’s revenue yielded $2 million in taxes in October.

Indiana has now generated $1.6 billion in bets since launching in September 2019, but the state was topped in September by both Colorado and Illinois to fall to sixth. However, the state is becoming less reliant on the Chicago market. Bets on the Colts and the surprising Hoosiers fueled $84.7 million in bets on football. That more than offset the losses of betting inventory in basketball, which drew $10.8 million in bets, and baseball, which chipped in $26.6 million in wagers.

And sportsbooks continue to be imaginative with the types of bets they offer, including offering odds on the Halloween Candy Bowl, a professional candy eating contest held in Las Vegas in late October.

“The market continues to sustain itself by being innovative, which is going to be critical as competition from neighboring states such as Illinois and Michigan increases,” said Jessica Welman, analyst for PlayIndiana.com. “Wringing a few extra dollars from Joey Chestnut downing candy corn might not be a game-changer on its own. But it is a sign of a larger strategy by sportsbooks to diversify their boards in interesting ways.”

Online betting generated 83.6%, or $193 million, of October’s handle. That is up slightly from 83.5% in September. William Hill launched its online sportsbook, but DraftKings/Ameristar Casino continued to easily lead Indiana’s online market with $90.5 million in bets, up from $83.5 million in September. October’s wagers led to $8.6 million in gross receipts, up from $3.2 million September.

The online market leader was followed by:

  • FanDuel/Blue Chip Casino ($63.6 million handle, up from $56.5 million; $7.1 million in gross receipts, up from $2.3 million.
  • BetMGM/Belterra ($20.1 million handle, up from $13.2 million; $1.8 million win, up from $1.3 million)
  • BetRivers/French Lick Resort ($7.8 million handle, up from $6.2 million; $632,752 win, up from $340,387 )
  • PointsBet/Hollywood Lawrenceburg ($7.1 million handle, up from $6.2 million; $862,865 win, up from $281,042)
  • Unibet/Horseshoe Hammond ($1.8 million handle, up from $624,525; $188,558 win, up from -$28,340)
  • BetAmerica/Rising Star Casino ($189,108 handle, up from $88,832; -$10,016 win, down from $13,565)
  • Caesars/Horseshoe Hammond ($403,136 handle, down from $494,622; $31,182 win, up from -$13,954)
  • TheScore/Ameristar ($1.5 million handle, up from $407,678 handle; $123,494, up from $44,130 win)
  • William Hill ($149,897 handle; $65,406 win)

Retail sportsbooks continued to make gains, combining for a $37.9 million handle in October, up from $34.3 million in September. Hollywood Lawrenceburg, nearest Cincinnati, led retail books with a $11.5 million handle, up from $9.9 million in September.

“Indiana is among the largest markets that DraftKings holds an advantage over rival FanDuel, leveraging its early entry last year into market dominance,” Welman said. “Even as competition has grown, including the entry of William Hill to the market, the top of the online sportsbook food chain has remained remarkably stable.”

Online casino update

Indiana is also inching closer to online casino games, too. Sen. Jon Ford is pushing for legislation next year that would legalize online gambling in the state and give a boost to the state’s gaming industry.

The draft bill proposes a 15% tax rate and would initially authorize 14 casinos and racinos among other proposals

“Indiana built a regulatory framework that has been successful for sportsbooks, and I am confident it can do so again with online casinos,” Gouker said. “The process is still in its infancy, but online gaming offers hope to a casino industry that has been hit hard by the pandemic.”


The PlayUSA.com Network is a leading source for news, analysis, and research related to the market for regulated online gaming in the United States. With a presence in over a dozen states, PlayUSA.com and its state-focused branches produce daily original reporting, publish in-depth research, and offer player advocacy tools related to the advancement of safe, licensed, and legal online gaming options for consumers. Based in Las Vegas, the PlayUSA Network is independently owned and operated, with no affiliations to any casino — commercial, tribal, online, or otherwise.

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ZITRO SHOWCASED DIVERSE PRODUCT PORTFOLIO AT IGA 2024

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Zitro exhibited its new product lineup at the 2024 Indian Gaming Tradeshow & Convention (IGA) held in Anaheim, California. Their commitment to the tribal gaming community was evident, drawing attendees eager to explore Zitro’s latest innovations: a diverse range of new games finely tuned for the U.S. market.

Operators had the opportunity to experience firsthand the quality, innovation, and unique personality that define Zitro. The showcase featured a selection of recently launched games and mechanics from G2E Las Vegas, including the player-favorite, Fu Pots, a title that has been delivering exceptional performance across the U.S. and global markets.  

Adding to their impressive display, Zitro also introduced brand new games such as Drum Dynasty, featured on the Allure Glare cabinet, which promises thrilling gameplay with its unique Bonus Mighty and Bonus Power that enhance Link symbol prizes. Night Link, showcased on the Illusion Glare cabinet, offers a captivating combination of three functionalities – Boomerang, Storm, and Collect – that can unlock up to 8 different bonus links. Finally, the premium Altius Glare platform housed Epic Empires, featuring a brand-new 3-Level Link Evolution Bonus.

“We are grateful for the opportunity to connect with the tribal gaming community at this year’s IGA show”, said Derik Mooberry, CEO at Zitro USA. “Our commitment to innovation was on full display, and the energy and interest surrounding our product lineup solidified Zitro’s position as a trusted partner in the U.S. market. This is just the beginning, as we remain dedicated to developing cutting-edge products that meet the demands of both players and casinos”.

 

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California Gambling Control Commission Approves Key Licensing Decisions Amid Regulatory Updates

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The California Gambling Control Commission held a significant meeting on April 18, 2024, to discuss and decide on various licensing and compliance matters crucial for the operation and regulation of the state’s gambling entities. The California Gambling Control Commission’s agenda was packed with key issues ranging from the renewal of cardroom licenses to the approval of tribal gaming key employees.

A notable decision from the meeting was the approval of the Revenue Sharing Trust Fund Final Report, allowing for the distribution of quarterly license revenue to eligible recipient Indian tribes. This move underscores the California Gambling Control Commission’s ongoing commitment to supporting tribal communities through structured revenue sharing, even as some financial shortfalls were acknowledged.

The California Gambling Control Commission also reviewed several renewal applications for cardroom owner licenses. Noteworthy renewals included Bankers Casino under Old Town Investments Incorporated, Blacksheep Casino Company and Bruce’s Bar and Casino, which were approved with specific conditions related to operational compliance and security protocols.

Another critical area of focus was the licensing of key employees at tribal casinos. Several applications for initial and renewal of key employee licenses were approved, reflecting the California Gambling Control Commission’s stringent oversight in ensuring that individuals in significant casino roles meet the regulatory requirements. These decisions are essential for maintaining the integrity and security of gaming operations within the state.

Additionally, the meeting addressed the renewal and approval of third-party proposition player services, which are vital for cardrooms that do not bank their games. The California Gambling Control Commission approved several of these licenses, highlighting its role in facilitating responsible gambling while ensuring compliance with state laws.

The California Gambling Control Commission’s actions during the April meeting highlight the complex regulatory environment governing the state’s gambling industry and its proactive approach in adapting to new challenges and ensuring fair and safe gambling practices.

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Florida Panthers Announce Multi-Year Partnership with Hard Rock Bet

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Florida Panthers Announce Multi-Year Partnership with Hard Rock Bet

 

The Florida Panthers announced that the club has agreed to a multi-year partnership with Hard Rock Digital to engage fans on its Hard Rock Bet sports betting platform and in-person at Amerant Bank Arena. This marks the first partnership in this category for the Panthers.

“We are thrilled to enter into an exciting new partnership with Hard Rock Bet,” said Florida Panthers Chief Revenue Officer Shawn Thornton. “Through this partnership, we will increase fan engagement and excitement around the game of hockey in South Florida and beyond by adding an entirely new element to the game.”

The partnership will officially begin at tonight’s game against the Ottawa Senators with on-site activations, digitally enhanced dasher boards, marquee signage, and digital branding. Starting with the 2024-25 season, additional enhancements will be unveiled to further engage fans on-site and online.

“We’re excited to join Panthers Territory and partner with the club to bring hockey fans closer to the action,” said Nick Menas, Hard Rock Digital’s Managing Director, Corporate Strategy. “With thousands of bets available on sports from around the world and live streaming of NHL games nightly on the Hard Rock Bet app, we’re thrilled to entertain hockey fans like no one else can.”

Hard Rock Bet is Florida’s only legal sportsbook and has thousands of ways to engage with hockey action – including pre-game and live wagering, plus Same Game Parlays – and over 20 other sports from around the world. The Hard Rock Bet app is available for download in the App Store and Play Store, and a web sportsbook experience can be accessed at HardRock.bet. As a sign-up bonus, new online players will receive up to $100 back in Bonus Bets if their first bet doesn’t win. In-person sports betting is also available at Seminole Hard Rock Casinos and Seminole Casinos in Florida.

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