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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.

Cryptocurrency

BitLine Enhances Onboarding Experience in Collaboration with Jumio: Simplified KYC for Casino Patrons

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This collaboration emphasizes convenience, security and regulatory compliance

Through the BitLine app, users can seamlessly transact with up to US$10 million in casino chips 24/7

BitLine, a pioneering provider in the integration of digital assets for direct access to casino chips, proudly announces a strategic alliance with Jumio, an industry leader renowned for its comprehensive know-your-customer (KYC) solutions.

This partnership marks a significant milestone as BitLine streamlines its onboarding process for casino patrons, ensuring a seamless and secure journey into the realm of digital asset-based payments for gaming.

The collaboration between BitLine and Jumio signifies a commitment to delivering unparalleled convenience while upholding the highest standards of security and regulatory compliance. By leveraging Jumio’s advanced technology, BitLine reinforces its dedication to building trust among users and offering a frictionless experience for individuals seeking access to casino chips via digital assets.

Richard Jones, the Chief Executive Officer for BitLine by Ibanera, expressed enthusiasm about the partnership, stating: “Trust and compliance are the cornerstones of every successful casino venture. At BitLine, our vision to innovate this industry through digital assets hinges on maintaining trust and adherence to regulations. Our collaboration with Jumio represents a monumental stride towards achieving this vision, ensuring that casino patrons transact securely and confidently through our platform.”

Echoing this sentiment, Robert E Prigge, the Chief Executive Officer for Jumio, commented: “The evolving landscape of digital assets presents endless possibilities and BitLine’s innovative approach has reshaped the casino industry. By eliminating withdrawal limitations and expanding accessibility, BitLine has ushered in a new era of gaming. We are thrilled to contribute to BitLine’s journey by providing essential elements of security and compliance.”

BitLine by Ibanera grants cryptocurrency owners unprecedented access to up to US$10 million in casino chips, 24/7/365, serving as a conduit for liquidity on the casino floor. Through the intuitive BitLine app, casino enthusiasts worldwide can initiate transactions within minutes, leveraging their digital assets to unlock funds effortlessly.

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Sportradar Names New CFO, Craig Felenstein

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Sportradar Names New CFO, Craig Felenstein

 

Sportradar Group AG today announced that Craig Felenstein has been named Chief Financial Officer of the Company, effective June 1, 2024. Felenstein joins the Company from Lindblad Expeditions where he most recently served as Chief Financial Officer. He will report directly to Sportradar Chief Executive Officer Carsten Koerl.

Felenstein brings nearly 30 years of senior finance and operating experience for US publicly listed companies across the media, entertainment, experiential and digital content industries to his new position at Sportradar. Most recently, Felenstein served as Chief Financial Officer at Lindblad Expeditions, a global leader in expedition cruises and adventure travel, where he oversaw the company’s global finance organization, as well their corporate development, information technology and human resources functions. In his role as Sportradar’s Chief Financial Officer, Felenstein will lead the company’s global finance, accounting and investor relations functions. Felenstein has a unique blend of financial rigor and operational insight and will partner with the rest of the executive leadership team to advance the company’s key strategic initiatives and grow the business while maintaining strong relationships with the investment community. He will be based in New York.

Carsten Koerl, CEO, Sportradar said: “With Craig’s deep international experience and successful track record building finance organizations as a CFO at US listed public companies, I am confident that he will be a strong addition to our team. His track record of helping drive financial strategy and building shareholder value will be instrumental to our continued success. We want to express our deep gratitude to Ger Griffin for his meaningful contributions to Sportradar during a transformational growth period for our Company.”

Prior to his tenure at Lindblad, Felenstein served as Senior Vice President of Investor Relations and Strategic Finance at Shutterstock where he oversaw all interaction with the investment community while leading the financial planning and analysis and corporate development functions. Prior to Shutterstock, he served in various management roles at Discovery Communications, LLC, including Executive Vice President of Investor Relations. At the same time, he was a member of the executive team for several of Discovery’s businesses including serving as the Chief Financial Officer of Digital, Chief Financial Officer of US Network Revenue and Chief Financial Officer of Animal Planet.  Prior to Discovery Communications, he held senior positions at News Corporation, Viacom Inc., and Arthur Andersen & Co.

Felenstein said: “Sportradar has built an impressive leadership position in the rapidly growing global sports technology market and the Company is ideally situated to deliver sustained growth given their strong content portfolio, unmatched product offerings and commitment to industry innovation.  I am excited to work with Carsten and the entire Sportradar team, as well as the Board of Directors, to capitalize on the significant growth opportunities ahead and deliver additional value to our clients, partners and shareholders.”

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Arturo Vidal is the new ambassador of the betting site Estelarbet

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Arturo Vidal is the new ambassador of the betting site Estelarbet

 

Estelarbet, Chile’s leading betting site, is proud to introduce Chilean soccer legend Arturo Vidal as its new brand ambassador. The alliance with Vidal, the Chilean with the most titles in history, marks an important milestone for Estelarbet, as he will exclusively promote its entertaining variety of online casino games, spread responsible gaming and provide an impactful gaming experience. Within the strategic agreement, it was established that the sports betting and online casino will include new branded content activations, face-to-face events and community outreach with the widely known “King”.

Sebastián Salazar, CEO of the brand commented: “It is an honor to welcome a true King of Soccer to the Estelarbet crew. We are excited to have Arturo Vidal associated with the brand. I’m sure his presence will help us generate greater awareness that soccer, sports betting, and online casino are all a form of entertainment, as long as they are done responsibly.”

Estelarbet celebrates the Chilean heritage and the genuine love for online gambling that unites them with the soccer player, both being a real case of success on the national and international playing field. His career, which includes truly stellar moments such as his time in the golden generation, being the two-time champion of America with the Chilean national team, being the Chilean soccer player who won the most consecutive First Division leagues, winning 1 title in all the teams he has played, makes him an inspiring figure and idol of the sport at a national and international level.

Jimena Agudelo, Marketing Manager of Estelarbet said: “Our goal will always be to create exceptional and legendary experiences and who better to represent us than a true star like Arturo. His passion for the game, his dedication and commitment are the perfect reflection of the values we defend at Estelarbet. Without a doubt, he is the best strategic partner we have chosen to represent and increase the visibility of the brand not only in Chile, but also in Latin America.”

This partnership will undoubtedly enhance the entertainment, betting and gaming experience for the brand’s customers and provide them with unparalleled content with the fastest payouts in the sector.

Karla Porto, Influencer Manager says: “Estelarbet’s partnership with Arturo Vidal, is a bet on the great visibility and recognition he has worldwide. With more than 20 million followers on his Instagram account, he has a broad base, which translates into a massive platform to promote the brand, reaching a diverse audience passionate about soccer and sports in general. This will undoubtedly boost Estelarbet’s visibility regionally and attract new users interested in sports betting.”

With Arturo Vidal as the brand’s star, Estelarbet continues to reaffirm its commitment to offer an extraordinary, exciting and safe gaming experience for all users of the platform in Latam.

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