Press Releases
White paper by PlayNY.com explores the nuances of New York’s sports betting market
New York has lost out on millions in revenue since retail betting launched in July 2019, but the legislative push to add online sports betting could make New York the largest U.S. sports betting market if properly structured, according to a white paper authored by PlayNY, a leading source for news and analysis of the fledgling New York gaming market.
Authored by PlayNY analysts Eric Ramsey, Dustin Gouker, and Matthew Kredell, “The State of New York Sports Betting: An Examination of the Forces Shaping the Market,” explores the nuances of the New York market including:
- How New York has underperformed with only in-person sports wagering.
- The proposed legalization efforts in the state from the legislature and the governor’s office.
- The legal issues at play as New York contemplates legalization.
- The opportunity in terms of revenue and total betting activity.
- Who the major players are likely to be in a legal online sports betting market.
- What other states have done with sports betting legalization.
“New York is a complex market, but one that the entire U.S. gaming industry is watching intently,” said Ramsey, who co-authored the report for PlayNY.com. “There are so many factors at play in the charge to regulate online sports betting, including Gov. Andrew Cuomo’s political fate.”
The debate on whether to legalize online sports betting and how to structure the regulations around it remains ongoing, with a resolution, at least for this year, possible this spring. But much could change before that happens. For one, two major factions have developed in the debate of how to structure online gambling. One, supporting an open market that would invite multiple private operators to compete in the state, a movement led by Assemblymember J. Gary Pretlow and Sen. Joseph Addabbo Jr. The other, a state monopoly model with which New York captures the lion’s share of revenue by contracting with a single sportsbook operator, a move championed by Gov. Cuomo.
According to research by the PlayNY white paper authors, an open market could draw $37 billion in bets, more than $2.5 billion in operator revenue, and more than $300 million in tax revenue over the first four years after launching online sports betting. A closed market could draw $7.5 billion in bets, $750 million in revenue, but $375 million in revenue for the state.
“The bottom line is we believe an open market will offer broader benefits for the state and its residents,” said Gouker, another co-author. “But a closed market should produce more revenue for the state, and that is tempting for policymakers.”
For more on the New York sports betting market or to download the executive summary and full white paper, visit PlayNY.com.
Latin America
Vibra Gaming releases content through Czar Gaming
Spanish-language facing LatAm brand to offer Vibra’s best performing localized games.
Vibra Gaming, well-known for its creative and innovative localized content, will see its games available across Czar and potentially multiple other Czar owned brands in the future.
The deal will further increase Vibra Gaming’s reach and enhance its reputation as the ‘go-to’ games and platform developer for LatAm facing operators.
This includes its highly engaging slots such as Carnaval Alegría and branded slots such as Condorito. Quick Games including Crash, Vibra Double and Vibra Dice containing action-packed features players will come back to time and again. Crash games are among the fastest growing real-money games segment in LatAm with millions of concurrent players engaging with simple to understand, high-action, quickfire content.
Vibra’s portfolio also includes a set of table games featuring Roulette and Blackjack, as well as unique video bingo content including titles like Egyptian Riches Gold and Underwater.
Ramiro Atucha, CEO, Vibra Gaming, said: “We’ve made huge strides with our games distribution and coverage in the last year to 18 months especially across LatAm”.“This continues to rapidly accelerate with brands such as Czar Gaming integrating our top performing content and offering it to their players. We’re delighted with our progress and there is plenty more to come, so watch this space!”
Pramod Padamati, CEO, Czar Gaming said: “We are delighted to be partnered with Vibra Gaming for Latam and we would like to take these to the rest of the world”.
Latest News
New Game Release by Zillion Games – Wolf’s Moon
Embrace the wild wolf’s spirit and follow the moon’s glow into the forest!
Explore the world of the mysterious forest with the Wolf’s Moon slot! Exciting Mystery symbols, powerful Boost symbols, and the thrilling Hold & Win feature await you here.
About Game
Wolf’s Moon slot has a captivating design that offers an enchanting gaming experience due to its complex mechanics. The game is meticulously structured around a 5-reel grid, featuring 25 distinct paylines, which provides multiple opportunities to the player to secure his winnings. Step in to the adventure with Wolf’s Moon and let yourself transported to a nocturnal world where the forest spirits join your hunt under the glow of the full moon.
Gambling in the USA
CogniPlay Launches New Social Casino Platform
CogniPlay has today announced the official launch of their new software product, which aims to provide a robust online sweepstakes or social gaming platform to their clients.The system is designed to be modular, allowing customers to tailor their brand and offering to what they believe will give them optimal performance.
The rise of sweepstake casinos in the US is continuing to gather pace and many companies from real money gaming are investigating the business model and the potentially lucrative revenue opportunity. With no standout platform solution currently on the market, CogniPlay looks to serve clients a full white label style solution with every detail taken care of. Brands like Chumba and Pulsz are already seeing tremendous success and CogniPlay gives an extremely efficient route to market for potential new sweepstake casino owners.
The CogniPlay system has several key integrations which help to deliver the product, including games integrations with the likes of Pragmatic Play, BetSoft, Mascot Gaming and many more, giving them 100s of games for their clients. There are other integration options for their customers to pick from too, including affiliate programme software, CRM platforms and associated products, KYC, ID verification, Geo-IP systems, Gamification, and customer support.
They also have a very long and extensive development pipeline which will see the product offering develop at pace, giving clients an extensive list of options and USPs, and of course giving players a great user experience as a result.
As well as the platform itself the CogniPlay team, due to their considerable experience, also offer a whole host of managed services, with almost a menu that clients can choose from to fill any gaps in their own skillsets or experience.
It is also this experience that CogniPlay hopes to utilise to great effect to provide industry-leading client management to build successful relationships and partnerships with their clients. CogniPlay’s Chief Executive Officer Allan Turner said, “We are very proud to take the CogniPlay product to market and are excited that people who want to start a new social or sweeps brand can get in touch with us to see what we can do for them, or in fact established brands that are unhappy with their existing provider.
Our underlying principles are that we want to provide the most flexible platform in the space, to enable our clients to create the product they want to have, not for us to dictate the product to them. The two other main areas of focus are that we want to be the most future-proof product on the market with plans for any regulatory or legal changes that may arise in the future, and that we have all the right safeguards in place to ensure that we look after both our clients and players with our responsible gaming setup.
This of course means having the right tech and processes in the key areas of KYC, Geo-IP tech, anti-money laundering, fraud, risk assessment and ID verification.”
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