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PlayVirginia.com: State’s sportsbooks off to strong start with $60 million January

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Former U.S. Attorney Tom Marino Exposes Illegal Gaming In Virginia

 

Virginia’s sportsbooks are off to an impressive start after collecting nearly $60 million in wagers in the first 11 days after the market launched on Jan. 21, the second-highest monthly total in U.S. history for any state in its first month of legal sports betting, according to PlayVirginia, which provides news and analysis of the state’s gaming industry.

“Like its neighbor in Tennessee, Virginia’s online-only market had some advantages that helped fuel such a successful launch,” said Jessica Welman, analyst for PlayVirginia.com. “Debuting ahead of the NFL’s conference championship games and the Super Bowl ensured there would be heavy interest from bettors. In addition, launching with top-flight sportsbook operators in place to serve a market with years of pent-up demand is a recipe for success.”

Virginia sportsbooks generated $58.9 million in handle in January, according to official data released Monday by The Virginia Lottery. Only neighboring Tennessee, which drew $131.4 million in bets in the 30 days after launching on Nov. 1, generated more than Virginia in its debut month, though Virginia topped Tennessee’ per-day total. Michigan, which opened retail sports betting in 2020, collected $150.8 million in January after launching online sports betting for the first time on Jan. 21.

Virginia’s sportsbooks won $3.6 million in gross gaming revenue on January’s bets. But with an expectedly heavy early promotional push, three of Virginia’s four sportsbooks lost money. That put combined adjusted gaming revenue at a $3.2 million loss.

The promotional credits dampened the state’s take, which was $39,710 and includes a $38,718 infusion in the state’s general fund.

“The relatively small injection in tax dollars is eye-catching, but significant promotional expenses are a given in a market’s first few days,” said Dustin Gouker, analyst for PlayVirginia.com. “We saw the very same dynamic play out in the first days of Michigan’s online market, as well. The bottom line is that Virginia’s market is off to a good start, with significant interest from bettors across the state. That will certainly pay off for the state in coming months.”

Virginia’s market launched with the biggest operators in the U.S. at the ready. FanDuel went live on Jan. 21, and DraftKings and BetMGM opened days later on Jan. 24. BetRivers jumped in the fray on Jan. 26. William Hill launched in February, and more are expected soon.

But that is just the opening salvo for Virginia’s sports betting market, which PlayVirginia expects will grow to generate some $5 billion in annual bets at maturity.

“This was a great start for Virginia, but it’s important to remember that this is just the first few days of the market,” Welman said. “More operators will launch in Virginia and the market should quickly evolve. But in just a few days, it’s clear that Virginia is on its way to becoming one of just a handful of major U.S. markets once it reaches maturity.”

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For more information and analysis on regulated sports betting in Virginia, visit PlayVirginia.com/revenue.

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 two dozen states, PlayUSA.com and its state-focused branches, including PlayVirginia.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 affiliations 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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