Press Releases
PlayTenn.com: Sportsbooks continue roll with $180 million in December
Tennessee’s online sportsbooks continued to gain momentum, reaching $180 million in wagers in December to close 2020 with the best two-month debut in U.S. sports betting history. An untested market before launching in November, Tennessee is off to the kind of start that almost no one could have predicted, according to analysts from PlayTenn, which offers news and analysis of the fledgling Tennessee gaming market.
“Tennessee launched with what many thought were a lot of question marks, but it is proving to be The Little Engine that Could,” said Jessica Welman, analyst for PlayTenn.com. “It seemed operators were slow to get to the state, many were concerned the 10% hold mandate would tamp down demand, and there were questions on whether or not the Tennessee Education Lottery was up to the task of regulating the industry. Those concerns seem like a distant memory now as Tennessee has catapulted itself into becoming a major player in the U.S. industry in just two months.”
In a December that featured four NFL Sundays, down from five in November, bettors placed $180.9 million in wagers, according to official data released Tuesday evening by The Tennessee Education Lottery. That topped November’s $131.4 million handle by 37.6%. December’s wagers produced a “win” of $13.9 million for the operators, up from $13.2 million in November. And the month’s win injected $3.1 million into state coffers.
Through the market’s first two months, Tennessee has:
- Generated $312.3 million in bets, by far the most of any legal sports betting jurisdiction in U.S. history. The next closest was Indiana, which produced $126.9 million in its first two months in 2019.
- Shattered the records for the best first month and the best second month. Indiana held both records, hitting $35.2 million in September 2019 before reaching $91.7 million in October 2019.
- Set a new standard for operator revenue with $27.1 million. Indiana generated $20.1 million in its first two months, including $11.5 million in its second month.
Tennessee’s hot start can be attributed to several major factors. First, the state launched its sports betting industry with online sports betting, which attracts vastly more in bets than retail sports betting in every state that has both. Secondly, with no retail component in the state, there was no in-person registration requirement for online sports betting, which can artificially depress a market. None of Tennessee’s seven neighboring states offered online sports betting during the Volunteer State’s first two months, and only two, Arkansas and Mississippi, are home to any retail betting. And the Tennessee Titans’ playoff run undeniably spurred local interest.
“Tennessee launched under near-perfect conditions and that can be seen in the early results,” said Dustin Gouker, analyst for PlayTenn.com. “Even with added competition from Virginia now going live, Tennessee’s start has established the state as a significant player in the U.S. And I don’t see anything that will stop the market’s momentum in the short-term.”
As it stands, Tennessee is now the nation’s seventh-largest sports betting market with plenty of growth still to come.
Only four sportsbooks are in operation so far. But more are expected to come in the coming months. That includes the imminent launch of TwinSpires as well as WynnBET and William Hill.
“Having FanDuel and DraftKings, the nation’s two largest operators, in place at launch has helped fuel Tennessee’s surge,” Welman said. “But more high-quality operators will help mature the market. As good as Tennessee’s start has been, the best days are still to come.”
For more information and analysis on regulated sports betting in Tennessee, visit PlayTenn.com/news.
The Unit aims to grow its presence in the Americas with move to new Manhattan location in January 2025 at Bank of Ireland’s NYC Hub
The Unit, a leader in product design and development for sports betting and iGaming, will proudly open its new office in New York City, as part of its long-term global expansion objectives, in January 2025.
The Americas division was established in 2023 with the launch of The Unit’s partnership with online operator PlayStar Casino. The New York City office, located in the heart of Manhattan, will now be the hub for The Unit’s activity in the Americas.
This new base will be located at Bank of Ireland’s NYC Hub, which was launched to help Irish business owners expand their North American operations. The offices at 2 Grand Central Tower are a great asset to Irish companies aiming to expand their operations in the United States and beyond. This is an ideal location for The Unit to grow its footprint in the region.
The project will be put into practice by The Unit’s Head of Business Development & Account Management Mark O’Hare, who has relocated to New York and will be responsible for The Unit’s commercial growth in the region.
With product and development teams in Ireland and Moldova, the addition of an American hub is further proof The Unit holds an unwavering commitment to becoming the partner of choice, on a global scale, throughout the industry.
Paddy Casey, Co-founder at The Unit, said: “These are exciting times for The Unit, and with plans in place to exponentially grow our presence in the Americas across the next few years, the start of 2025 will be the perfect time for us to move into one of the most vibrant cities in the world.
“This will be the ideal addition to our existing bases in Ireland and Moldova. The flexible workspace the hub can provide will be integral to our plans and will give us the opportunity to grow the team.
“This is an excellent opportunity for us to touch base with clients in the Americas and strategise further launches. We’re looking forward to mapping out our future in the region with our team on the ground there.
“I would like to thank Mark O’Hare for making the move to New York, and I’m sure both he and his team will have the skills and experience to execute our vision for the Americas division across the long-term.”
Tania Sheikh, Manager of NYC Hub for Bank of Ireland, said: “We are very pleased to welcome The Unit to the NYC Hub. The facilities we can provide have helped businesses scale up and connect with their partners, and we are proud to offer that opportunity to The Unit.
“We look forward to hosting The Unit and wish them well in their endeavors to grow their business here.”
The Unit has solidified its strong track record of building world-class, scalable and efficient products for the sports betting and iGaming sector in recent years.
As The Unit embarks on this exciting period of growth, the company remains committed to delivering exceptional products and services to its clients. With its experienced team, best-in-class product development capabilities, and focus on innovation, The Unit is poised to shape the future of the sports betting and iGaming industries.
Golden Matrix Group Inc., a developer and licensor of online gaming platforms, systems, and gaming content, today announced that management will participate in the 2025 ICR Conference on January 13-15, 2025 at the Grande Lakes Resort in Orlando, FL.
Zoran Milosevic, Chief Executive Officer of Meridianbet, will participate in a fireside chat with an equity research analyst on Monday, January 13, 2025, at 2:30 PM ET and will also be available for meetings during the conference.
BCLC reminds adults to gift responsibly this holiday season
With the holiday season in full swing, BCLC is reminding British Columbians to gift responsibly and scratch lottery products from their shopping lists for kids.
“Scratch & Win tickets can make great stocking stuffers for the adults in your life, but they’re not for kids,” said Ryan McCarthy, BCLC’s Director of Player Health. “The research shows that children who have early encounters with gambling are four times more likely to develop riskier gambling behaviour as they grow up. While people are out shopping for those last-minute gifts, BCLC wants adults to be aware of the potential risks associated with gifting lottery products to children and to consider safer alternatives.”
While Scratch & Win tickets are among the most common ways kids can be introduced to gambling, children are increasingly exposed to various online forms, such as gambling streams.
“With the convergence of gaming and gambling, youth are becoming more exposed to gambling content in online spaces like streaming sites, where creators are able to live-stream their own gambling, usually while playing online slots and instant games,” said Dr. Luke Clark, Director for Gambling Research at UBC. “Our research at the UBC Centre for Gambling shows that a higher frequency of watching online gambling streams is associated with a more positive attitude towards gambling and a high intention to gamble in the future.”
In B.C., it is illegal to sell lottery products to anyone under the age of 19 and BCLC encourages adults to have conversations with the kids in their lives about the risks associated with gambling.
“Open and honest conversations are crucial when it comes to navigating childhood exposure to gambling,” said McCarthy, who shared the following tips to adults:
- Monitor for gambling-related lifestyle changes. For example, developing a positive attitude towards gambling or a preoccupation with video games or streaming sites.
- Be a positive role model. Exhibit safer gambling behaviour and talk about the risks.
- Limit exposure. Monitor kids’ online activities and discourage engagement with gambling content. Explain how gambling is based on chance.
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