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PlayIA.com: Sports betting volume falls to less than $90 million

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Iowa’s sportsbooks extended a streak of month-over-month declines in betting volume, taking in less than $89 million in bets in July in what was the 24th month of sports betting in the state. July’s betting volume decrease is historically the single slowest month for sports wagering in the U.S., and even the Olympics and NBA Finals couldn’t reverse the trend in Iowa, according to PlayIA, a leading source for news and analysis of the Iowa gaming market.

“The Olympics and the later-than-usual NBA Finals gave bettors more opportunities to place a bet than what would be a typical July, but neither were able to move the needle much,” said Jessica Welman, analyst for the PlayUSA.com Network, which includes PlayIA.com. “Bettors simply check out in July, when summer vacations and other pursuits take precedence. But a surge in betting will certainly come with the beginning of the football season.”

Iowa’s online and retail sportsbooks took in $88.9 million in July, down 20% from $111.2 million in June to extend a streak of month-over-month declines to four, according to official data released Friday. July marked the lowest handle in the state since November 2020, as bettors placed $2.9 million per day over the 31 days of July, well short of the $3.7 million per day in June.  

The betting volume results followed a historical trend. The pandemic skewed 2020 data, but the lowest volume month across the U.S. in both 2018 and 2019 was in July. The boost in volume pushed net operator revenue to $7.1 million in June, down 15.7% from $8.4 million in June. That resulted in $479,479 in tax revenue for the state.

Baseball and basketball held most of Iowa’s betting water in July. Iowa put in place a cautious framework for Olympics betting, which barred wagering on individual events that feature athletes under the age of 18. That took some of the betting inventory off the board.

“Mainstream sports such as basketball and golf, along with a handful of high-profile events, have drawn the most Olympics interest,” said Eric Ramsey, analyst for PlayUSA.com and PlayIA.com. “But there was no wave of action from the Olympics. Bettors aren’t as comfortable wagering on Olympic events. And partly it’s because betting on many high-profile events in swimming and gymnastics, which took center stage in the early part of the Olympics, were barred because minors were competing.”

Sports betting launched in Iowa on Aug. 15, 2019, which made July 2021 the 24th month of operation. It has been a winding road with the pandemic that hobbled the industry in 2020 and the removal of in-person registration requirements that has rocketed the market forward in 2021.

In 24 months, Iowa sportsbooks have generated:

  • $1.7 billion in wagering
  • $122.8 million in gross gaming revenue
  • $8.3 million in tax revenue

“Iowa has experienced so many twists and turns over the last two years, but the state’s sportsbooks find themselves in a good place,” Welman said. “Sportsbooks will hit more than $1 billion in wagering by September at the latest, nearly doubling the handle for all of 2020 before football kicks off. That is staggering growth.”

In July, $77.9 million in bets were made online, representing 87.6% of the state’s handle. Retail betting accounted for the remaining $11.0 million.

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Caesars Sportsbook, which was rebranded from William Hill, generated 35% of Iowa’s handle in July with $31.1 million in total wagers. That is down from $36.65 million in June. $28.7 million of July’s wagers were made online. In all, July’s wagering yielded $1.0 million in net receipts.

Wild Rose, which includes DraftKings and BetRivers, took in $25.2 million in online and retail wagering, down from $31.5 in June. July’s handle included $25.0 million in online wagering. The wagering was enough to produce $2.6 million in revenue, topping the market.

Diamond Jo, fueled by FanDuel and BetMGM, was third in the state with $21.4 million in combined wagers, down from $26.6 million in June. $18.4 million of July’s wagering came online. That was enough to net a market-leading $2.4 million in revenue.

Bally Bet, the state’s newest operator, collected $1.1 million in wagers and $111,157 in revenue in its first full month of operation.

Compliance Updates

BMM Testlabs Earns Accreditation in Maranhão, Brazil To Test Fixed Odds Betting Systems and Lottery Platforms

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BMM Testlabs Earns Accreditation in Maranhão, Brazil To Test Fixed Odds Betting Systems and Lottery Platforms

 

BMM Testlabs, the world’s original gaming test lab renowned for exceptional product compliance and testing services, today announced its official accreditation to test systems and games for the Brazilian state of Maranhão.

This new accreditation allows BMM Testlabs to test fixed-odds betting systems and lottery platforms for the Maranhão market. The Company is now authorized in every Brazilian jurisdiction that has regulated at state-level online fixed-odds betting.

The Maranhão accreditation, issued by Maranhão Parcerias SA (MAPA/LOTEMA)authorizes BMM Testlabs to work with lottery operators in the state to ensure compliance and quality standards for the gaming and lottery industry through end-to-end product compliance testing for Maranhão’s standards.

Additionally, Brazil’s Secretaria de Prêmios e Apostas has federally authorized BMM Testlabs to test betting systems, live gaming studios, and online games used by fixed-odds betting operators.

BMM Testlabs’ Marzia Turrini, President of iGaming & Cybersecurity, said, “We are excited and deeply honored that the State of Maranhão’s official lottery has entrusted BMM Testlabs with the responsibility of testing products for their new online fixed odds betting program, knowing that we’ll do so with the highest levels of impartiality, technical expertise, transparency, efficiency, and, most of all, integrity.”

With the Maranhão accreditation, BMM Testlabs solidifies its position as the leading independent test lab in Brazil. BMM Testlabs is accredited in all jurisdictions that have authorized fixed-odds betting for online gaming and sports betting.

BMM Testlabs brings 44 years of global leadership in product compliance across regulated markets and is trusted by games, systems, and lottery manufacturers, suppliers, developers, and regulators worldwide.

In addition to product compliance testing, BMM Testlabs provides end-to-end cybersecurity protection solutions. Through its sister company, RG24seven Virtual Training, BMM also offers compliance-grade virtual training on responsible gaming, anti-money laundering, and other important topics – presented by industry experts and available in English, Spanish, and Portuguese.

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Conferences

Meridianbet CEO Showcases GMGI’s $163M FY2024 Revenue, USA & Brazil Entry at ICR 2025 Conference

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Meridianbet CEO Showcases GMGI's $163M FY2024 Revenue, USA & Brazil Entry at ICR 2025 Conference

 

In a packed room at the prestigious ICR 2025 Conference held in Orlando, FL, Zoran Milosevic, CEO of Meridianbet, captivated the audience of elite investors with GMGI’s remarkable growth story and series of strategic market entries that position the company for significant value creation in 2025 and beyond. The company also led the conference with the highest number of one-on-one investor meetings, signaling strong interest in its growth trajectory.

The world-class event, also known as the financial market Super Bowl, is recognized as the planet’s premier small and medium-cap conference for US listed companies. It brought together over 3,000 attendees, including institutional investors, sell-side analysts, investment bankers, and private equity professionals.

This builds on the success at the 2024 Citi Global TMT Conference, when the company shared insights alongside industry giants like DraftKings, FanDuel, and IBM.

61% Year-Over-Year Growth Positions GMGI as Gaming Industry Leader

The world’s elite investment audience found out a compelling history of growth: GMGI’s preliminary FY 2024 revenue surged 61% year-over-year to $150 million, with pro forma consolidated revenue reaching $163 million.

This exceptional growth trajectory, driven by strategic market expansions and technological innovation, showcases GMGI’s emerging dominance in the global gaming landscape.

Brazil: A Game-Changing Market Entry

In what could prove to be a transformative catalyst, Meridianbet secured a coveted federal license in Brazil – a market projected to reach $2.5-4 billion annually. With instant access to over 100 million potential customers across all 26 states, this strategic move positions GMGI to capture substantial market share in one of the world’s most lucrative gaming opportunities.

North American Expansion Accelerates

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The Group’s momentum in North America exemplifies its multi-market growth strategy:

  • Strategic entry into the rapidly expanding U.S. sweepstakes gaming market, leveraging proprietary content from Expanse Studios
  • Pending gaming license in Ontario, Canada’s largest regulated market
  • Deployment of AI-driven gaming solutions to maximize player engagement and retention

 

GMGI’s Unified Ecosystem: A Competitive Moat

Meridianbet CEO showcased how the Group’s six synergistic companies create a formidable competitive advantage, presenting to investors a unique ecosystem:

  • Meridianbet’s presence in 18 regulated jurisdictions, powered by 1,200+ employees including 100 software engineers
  • Expanse Studios’ proprietary game development driving high-margin revenue lowering the reliance on third-party content
  • Strategic assets across key growth markets: Mexplay in South America, Rkings in the UK, and Classics for a Cause in Australia

2025: Multiple Growth Catalysts Ahead

The confluence of strategic initiatives positions GMGI for accelerated growth:

  • Brazil market ramp-up expected to drive substantial revenue expansion
  • Proprietary AI technology deployment enhancing player monetization
  • First-mover advantages in newly regulated markets
  • Continued margin expansion through operational efficiencies

For investors seeking exposure to the explosive growth in global gaming, GMGI represents a unique opportunity: a proven operator with proprietary technology, multiple growth vectors, and strategic positioning in the world’s most promising gaming markets.

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Latest News

GAN Selects Internet Vikings’ Hosting Solutions in Arkansas

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GAN Selects Internet Vikings’ Hosting Solutions in Arkansas

 

Internet Vikings, a licensed in-state hosting provider for iGaming and online sports betting, announces the extension of its relationship with GAN Sports®, a supplier of industry-leading casino content, into Arkansas.

Following a successful multi-state collaboration initiated in 2022, Internet Vikings continues to support GAN by delivering hosting services tailored to their operational needs. Internet Vikings is continuing to grow across the United States, as Arkansas becomes the latest state to benefit from their hosting services.

GAN, a B2B supplier of internet gambling software-as-a-service solutions, initially entered into an agreement with Internet Vikings in a landmark deal covering 15 states. Since then, the relationship has grown stronger, with GAN relying on Internet Vikings’  bare metal server solutions to support their large-scale U.S. operations.

This expansion into Arkansas follows a recent deployment in Nevada, where Internet Vikings also provides hosting solutions to GAN. As GAN continues to operate across regulated U.S. markets, Internet Vikings remains a dependable resource, and has demonstrated its reliability to support long-term growth.

Rickard Vikström, CEO and Founder of Internet Vikings, shared his thoughts, “Our relationship with GAN reflects the trust we’ve built over the years. It’s not just about providing hosting solutions; it’s about understanding their vision and exceeding their expectations.”

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