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PlayIllinois.com: Sportsbooks hit $450 million for first time

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Sports Betting Market Size Is Likely to Experience a Tremendous Growth of USD 167.66 billion by 2029, registering a CAGR of 10.26 % by Size and Share, Industry Growth, Regional Outlook, Challenges and Analysis

 

Illinois online and retail sportsbooks collected more than $450 million in wagers in November, setting a fresh record for monthly handle to place fourth among legal sports betting markets in the U.S. It’s a remarkable ascent for a fledgling market that has become the fourth state in history to enjoy a month with more than $450 million in bets, according to PlayIllinois, which offers news and analysis of the state’s gaming industry.

“Illinois’ success is more than just a large population fueling impressive numbers that dwarf smaller states,” said Jessica Welman, analyst for PlayIllinois.com. “Illinois is rivaling markets such as Pennsylvania that are far more mature and just as large, and it’s doing it because the top online sportsbooks in the country are investing heavily in the market and Illinois bettors are responding with an unprecedented fervor.”

Illinois bettors placed a record $451 million in wagers in November, according to “approximate” data released Wednesday by the Illinois Gaming Board. That is up nearly 4% from $434.6 million in October. Only New Jersey ($931.6 million) and Nevada ($609.4 million) — the two oldest legal sports betting markets in the U.S. — and Pennsylvania ($491.9 million) generated more in bets during November 2020.

November’s bets produced $41 million in adjusted gross revenue for the operators, down slightly from the state record $42.2 million in revenue generated in October. Those gains yielded $6 million in state taxes.

Despite a relative leveling from October to November, Illinois’ ascent remains unprecedented. New Jersey did not surpass $450 million in monthly handle until its 17th month after launch. It took Pennsylvania even longer, reaching the mark with $462.8 million in September 2020, 23 months after launch.

Aside from the suspension of the state’s in-person registration requirements, much of what has fueled the market is interest in regional sports, particularly the Chicago Bears and Notre Dame. But the Bears went 0-4 in the month, and without baseball and the NBA Finals, November offered less to bet on than in October. In addition, retail sportsbooks were shuttered in mid-November because of Covid-related restrictions.

That did not slow bettors, though, as the Illinois market showed resilience in the face of obstacles.

“At this point, it makes sense to adjust our expectations up for the market,” said Joe Boozell, analyst for PlayIllinois.com. “The retail market was shut down in November, and this was the first month since the market really heated up in July that the sports schedule was slower than the month before, and yet sportsbooks still made gains. Such resilience shows that Illinois is maturing more quickly than anyone imagined.”

With retail sportsbooks shuttered for the second half of the month, online sports betting accounted for the vast majority of all bets. Specific operator data was not immediately released.

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With only five online operators, Illinois is still home to a relatively short roster of sportsbooks. But Penn National’s Barstool-branded app, BetMGM, and Unibet are among those that are expected to launch in Illinois in the coming months, which should give the state a boost.

“Remarkably, Illinois has done all this with just a handful of operators and without some of the best-known brands in the industry,” Boozell said. “The gains will continue to attract operators, and could have Illinois poised to challenge even the largest market in the U.S., so long as the state’s in-person registration requirement remains suspended.”

For more information and analysis on regulated sports betting in Illinois, visit PlayIllinois.com/news.

 

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 (including PlayIndiana.com, PlayIllinois.com, PlayNJ.com and PlayPennsylvania.com) 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 affiliation to any casino — commercial, tribal, online, or otherwise.

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THE UNIT TO STEP UP EXPANSION PLANS WITH OPENING OF NEW YORK CITY OFFICE

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THE UNIT TO STEP UP EXPANSION PLANS WITH OPENING OF NEW YORK CITY OFFICE

 

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.

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“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.

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Golden Matrix Group to Participate in the 2025 ICR Conference

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Golden Matrix Group to Participate in the 2025 ICR Conference

 

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.

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Be #GiftSmart: Scratch the Idea of Gifting Scratch & Win Tickets to Kids

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Be #GiftSmart: Scratch the Idea of Gifting Scratch & Win Tickets to Kids

 

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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