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PlayIndiana.com: Sportsbooks reach $250 million plateau for first time

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PlayIA.com: Iowa sportsbooks set per-day betting record during $144 million February

 

Indiana sportsbooks continued their torrid pace in November — surpassing $250 million in wagers in a month for the first time — as local bettors continued to put money on the state’s NFL and college football teams, according to analysts from PlayIndiana.

“Indiana has largely managed to shrug off increased competition from its neighbors, which is a good sign for the future of the state’s industry,” said Dustin Gouker, lead analyst for PlayIndiana.com. “A lot has gone right in recent months to get Indiana to this new high point, but considering the challenges, it has been an impressive string of months.”

Buoyed by continued interest in the Indianapolis Colts, as well as particular interest in Notre Dame and Indiana football, sportsbooks accepted $251.4 million in bets in November, according to official reporting released Thursday. That marks the third consecutive month Indiana sportsbooks have set a state record for monthly handle, topping $230.9 million hit in October.

Wagering in November produced a record $25.3 million in adjusted gross revenue for the state’s operators, up 20% from the record $21.1 million set in October, and yielded $2.4 million in state taxes. Year over year, Indiana’s handle grew 70.7% from $147.3 million in November 2019 while gross revenue jumped 172.4% from $9.3 million.

Indiana reclaimed its position in October as the fifth-largest market in the U.S., ahead of Colorado, but behind New Jersey, Nevada, Pennsylvania, and Illinois. And November’s results should be enough to stay in that position.

“I think some of the worries that Indiana would slip as its neighbors legalized sports betting are calming,” said Jessica Welman, analyst for PlayIndiana.com. “The market in the Hoosier State is proving to be quite dynamic.”

One way the Hoosier State has been able to improve is a boost in local football interest. Notre Dame and Indiana University are both among college football’s elite, and the Colts continue their drive toward the NFL playoffs. The result is a swell of football bets, hitting $113.5 million in November, a rise of 33.9% from $84.7 million in October and up 96.5% from $57.7 million in November 2019. With only a sliver of college basketball season to drive interest, basketball was a distant second with $17.7 million in November bets.

“There really isn’t any substitute in sports betting for a local team doing well, and Indiana is enjoying three at once,” Gouker said. “And with both college and NBA basketball returning, a sport that enjoys particular interest in Indiana compared with most other legal jurisdictions, December really sets up to be another jump forward.”

Online betting generated 85%, or $213.7 million, of November’s handle, increasing the share of all bets from 83.6% in October. DraftKings/Ameristar Casino continued its dominance of the digital market, increasing its bets to $95.2 million in November from $90.5 million in October. Those bets produced $7 million in gross receipts, down from $8.6 million in October.

DraftKings was followed by:

  • FanDuel/Blue Chip Casino ($64.2 million handle, up from $63.6 million; $7.7 million in gross receipts, up from $7.1 million.
  • BetMGM/Belterra ($25.3 million handle, up from $20.1 million; $2.2 million win, up from $1.8 million)
  • BetRivers/French Lick Resort ($10.3 million handle, up from $7.8 million; $660,365 win, up from $632,752)
  • PointsBet/Hollywood Lawrenceburg ($9.9 million handle, up from $7.1 million; $794,517 win, down from $862,865)
  • William Hill/Tropicana Evansville ($4 million handle, up from $149,897; $685,922 win, up from $65,406)
  • TheScore/Ameristar ($2.2 million handle, up from $1.5 million; $45,530 win, down from $123,494)
  • Unibet/Horseshoe Hammond ($1.8 million handle, even with October; -$7,008 win, down from $188,558)
  • Caesars/Horseshoe Hammond ($564,046 handle, up from $403,136; $67,095 win, up from $31,182)
  • BetAmerica/Rising Star Casino ($144,130 handle, down from $189,108; $11,005 win, up from -$10,016)

Retail sportsbooks took in $37.7 million in November wagers, down slightly from $37.9 million in October. The emergence of Illinois’ online sportsbooks has been felt most in Indiana’s retail market. Once dominated by sportsbooks nearest Chicago, retail sportsbooks were led in November by Hollywood Lawrenceburg, nearest Cincinnati. Hollywood Lawrenceburg’s $11.6 million handle in November was more than the combined handle of state No. 2 Ameristar Casino ($6.3 million) and No. 3 Horseshoe Hammond ($4.9 million).

“Chicago is still an important market for sportsbooks near the border, but the combination of Illinois’ sports-betting expansion and the pandemic has challenged the retail market,” Welman said. “As a whole, though, growth in online betting has more than made up for any slowdown in the retail market. And Indiana made last-minute protocol changes to keep casinos open while properties in surrounding states shut down, which has helped the industry.”

About the PlayUSA.com Network:
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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