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PlayIllinois.com: Sportsbooks post huge month, but March could be ‘last hurrah’ for major growth

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PlayIllinois.com: Sportsbooks post huge month, but March could be 'last hurrah' for major growth

 

Illinois sportsbooks set records for betting and revenue in March, easily reaching $600 million in monthly wagering for the first time and again surpassing Pennsylvania, a dramatic turn one year after the industry’s launch was spoiled by the pandemic-related shutdown of major U.S. sports. But as far as Illinois has come, the state’s newfound position as the nation’s No. 3 market could be short-lived as in-person registration requirements begin to take hold, said PlayIllinois, which analyzes and researches the state’s regulated online gaming and sports betting market.

“March Madness helped deliver a huge month for Illinois, but March is essentially a ‘last hurrah’ for the state’s rapid growth,” said Joe Boozell, analyst for PlayIllinois.com. “Illinois will still be one of the largest U.S. markets because of the population of the state, but it will be difficult to maintain its current status as the U.S. No. 3, much less catch Nevada. No matter how appealing a market, there isn’t any easy way to overcome the inconvenience of in-person registration.”

Spurred by March Madness, betting at Illinois’s retail and online sportsbooks surged to $633.6 million in March, according to official data released Monday. That is up 24.3% from $509.8 million in February and easily topped the previous record $581.6 million in January. Bettors placed $20.4 million per day in the 31 days of March, up from $18.2 million per day in February.

March’s high volume produced $49.9 million in operator revenue, up 64.6% from $30.3 million in February and narrowly topping the record $49.4 million in January. The month’s win created $44.3 million in taxable revenue, which yielded $6.6 million in state taxes and another $493,543 in local taxes.

Illinois surpassed Pennsylvania ($560.3 million) in monthly handle for the second straight month and gained ground on New Jersey ($859.6 million) and Nevada ($641 million). In doing so, the state surpassed $3 billion ($3.6 billion) in lifetime handle.

That stands in stark contrast to March 2020, when Illinois launched retail sportsbooks, taking in $997,739 in bets before a wave of sports cancellations essentially put a hold on sports betting in Illinois until July.

“The growth over the last year has been staggering, making Illinois the quickest to $3 billion in U.S. history,” said Jessica Welman, analyst for PlayIllinois. “The question now becomes what will happen when the brakes are hit on that growth? Does it alarm lawmakers enough to make a change? Or will Illinois be satisfied with where the sports betting market has been frozen in place?”

The NCAA Tournament was the main driver in March, generating an estimated $176.8 million in bets even as bettors were barred from wagering on Illinois and Loyola Chicago. The NBA also drew well, helping to push basketball betting to $365.7 million. The previous high for basketball in a month was $256.7 million.

Tennis also continues to do especially well in Illinois, hitting $47.2 million in wagering, the second-most wagered-on sport.

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“Illinois has grown in some unique ways, but the state’s love of basketball has really carried the state over the last few months,” Boozell said. “If the ban on betting on in-state college teams didn’t exist, Illinois would have likely been the No. 2 market in the U.S. in March.”

Online wagering accounted for 96.1%, or $609 million, of all bets in March. Retail betting generated the remaining $24.6 million.

DraftKings/Casino Queen represented 32.2% of the state’s entire handle in March, generating $207.6 million in online and retail wagers, up from the operator’s $199.8 million handle in February. Nearly $203.9 million of March’s bets came online.

FanDuel/Fairmont attracted $195.2 million in bets — $194.9 million of which came online. BetRivers/Rivers Casino continued to lose pace with the market leaders, generating $95.7 million in online betting and $106.9 million overall, up from $86.9 million in February.

The leaders were followed by:

PointsBet/Hawthorne Race Course ($55 million in wagers, including $53.6 million online; $5.1 million in revenue)
Barstool/Hollywood Casinos ($48.9 million in wagers, including $47.8 million online; $1.1 million in revenue)
William Hill/Grand Victoria ($14.2 million in wagers, including $13.3 million online; -$270,456 in revenue)
Argosy ($4.1 million in wagers; $410,477 in revenue)
Hollywood Joliet ($1.2 million in wagers; $127,344 in revenue)
Par-A-Dice ($628,286 in wagers; -$163,180 in revenue)

“One of the biggest issues with the return of in-person registration is it puts newly launched operators at a permanent disadvantage,” Welman said. “In one way, Barstool was fortunate to launch when it did, helping them build a foundation. But growth will be difficult for all operators, and especially those that are farther away from the largest population centers.”

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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