Press Releases
PlayPennsylvania.com: Sportsbooks make first betting volume gains since March
The return of football helped Pennsylvania sportsbooks post their first month-over-month increase in betting volume since March with nearly $350 million in wagers in August. The gain sets the stage for what could be a record-shattering fall for the state’s sportsbooks as online casinos and poker rooms continue their own torrid pace, according to PlayPennsylvania, which tracks regulated online gaming and sports betting in the state.
“August’s sports schedule is still relatively light compared with the fall, so it is welcome to see betting volume move off the low we saw in July,” said Valerie Cross, analyst for PlayPennsylvania.com. “The next four months is the most important stretch of the year for sportsbooks, though, and every sign points toward a stretch of widespread growth.”
Pennsylvania’s online and retail sportsbooks accepted $348.5 million in wagers in August, down 4.5% from $365.0 million in August 2020 but up 14.5% from $304.4 million in July, according to official data released Monday. August marked the first month since March, when sportsbooks took in $560.3 million in wagers, that the combined handle topped the previous month’s handle.
Gross gaming revenue fell 8.3% to $25.3 million from $27.6 million in August 2020 and fell 7.9% from $27.5 million in July. August produced $18.0 million in taxable revenue, generating $6.1 million in state taxes and $360,145 in local share assessments.
The gains in August were likely in part a product of increasing interest in baseball, especially as the Philadelphia Phillies remained in postseason contention. But a handful of college and NFL preseason games, in addition to futures betting on football, undoubtedly helped boost bettors’ interest.
“An inglorious exit from the NBA playoffs, the struggles of the Pittsburgh Pirates, and the inconsistency of the Phillies, conspired to make this a relatively slow summer for Pennsylvania’s sportsbooks,” said Dustin Gouker, analyst for the PlayUSA.com Network, which includes PlayPennsylvania.com. “It took just a handful of games in August to show how important football is to the sports-betting industry.”
Bettors made $318.1 million in wagers at the state’s online sportsbooks, representing 91.3% of the state’s total handle. FanDuel led all online operators with $135.7 million in wagering, up 27.1% from $106.7 million in July. FanDuel’s online revenue fell 54% to $5.7 million in August from $12.3 million in July, yielding $3.0 million in taxable revenue.
DraftKings was second in the state with $80.4 million in wagers, up 21.4% from $66.2 million in July. That yielded $8.0 million in gross revenue and $6.6 million in taxable revenue. BetMGM was third in the state with $29.0 million in wagers and $2.5 million in gross revenue.
Penn National’s Barstool-branded app attracted $26.3 million in wagers creating $2.1 million in gross revenue and $1.6 million in taxable revenue.
The online leaders were followed by:
- BetRivers ($13.2 million handle, down from $14.5 million; $882,274 GGR, down from $1.3 million)
- SugarHouse ($10.3 million handle, up from $9 million; $692,350 in GGR, up from $680,099)
- Fox Bet ($8.6 million handle, down from $10 million; $746,103 in GGR, up from $709,376)
- Parx Casino ($6.4 million handle, down from $7.9 million; $713,282 GGR, down from $745,087)
- Unibet ($4.2 million handle, down from $4.5 million; $307,601 GGR, down from $316,936)
- TwinSpires ($2.3 million handle, up from $2.1 million; $147,448 GGR, down from $179,276)
- Caesars ($1.2 million handle, up from $947,532; $73,785 GGR, up from -$126,967)
- Betway ($617,954 handle; up from $563,481; $18,818 GGR, up from -$32,239)
- Wind Creek ($521,601 handle, up/down from $406,259; $78,195 GGR, up from $6,284)
Meanwhile, retail sportsbooks accepted $30.4 million in wagers in August, up from $29.0 million in July. Those wagers created $3.3 million in gross gaming revenue, up 22.8% from $2.7 million in July. Rivers Philadelphia topped the retail market with $5.1 million in bets, ahead of Rivers Pittsburgh’s $4.4 million handle.
“Revenue generation is important this time of year, too, but football is often a springboard for operators to build relationships with new customers,” Gouker said. “This is why operators are aggressive with their football-related promotional offerings and advertising campaigns, particularly around the opening weeks of the season. It’s also a time when giants such as FanDuel and DraftKings really can exploit their resource advantage over smaller operators.”
Online casinos and poker
Online casinos and poker rooms posted their sixth consecutive month with gross gaming revenue over $100 million with $103.2 million in August. That was up 54.8% from $66.7 million in August 2020, though down 1.2% from $104.5 million in July.
Gross revenue was whittled to $88.7 million in taxable revenue, which was even with July. August’s win yielded $39.4 million in state and local taxes. Wagering at online casino games remained brisk, hitting $3.2 billion in August, which was also even with July.
“While sportsbooks ebb and flow with the seasons, the growth at online casinos has been consistent and relentless,” Cross said. “As the weather cools, that growth should continue. There are no signs yet that point to any kind of slowdown on the immediate horizon.”
Other highlights from August:
- Online casino and poker rooms generated $3.3 million in gross gaming revenue per day over the 31 days of August, down from $3.4 million per day in July.
- Penn National, which includes the DraftKings, BetMGM, Barstool, and Hollywood casinos, led the market once again with $35.1 million in gross revenue. Rivers Philadelphia, which includes SugarHouse, Borgata, and BetRivers casinos, was second with $30.8 million.
- On the strength of the first full month of the World Series of Poker, poker generated $3.2 million in revenue, up from $2.7 million in August 2020. Mount Airy/PokerStars topped operators with $1.9 million in revenue.
For more information, visit www.playpennsylvania.com/news.
Press Releases
YouGov unveils US bettor research report, which highlights that 43% of sports bettors use three or more sportsbook apps
YouGov has released its US bettor research report, which provides detailed insights into the preferences of US sports bettors.
Utilizing YouGov Custom Research, the report uncovers the impact that ESPN BET has had on the market, which in-app sportsbook features drive bettor engagement, and much more.
The report finds that:
- 71% of 25-44 year-old bettors find the ability to live stream sporting events that they bet on in their sportsbook app important (vs 65% all ages)
- bet365 is the most used sportsbook by 21-34 year-olds and DraftKings is used most by all other ages
- 67% of 21-24 year-old current and prospective bettors are likely to create a sportsbook account with a sportsbook that is associated with a streaming service (vs 57% of all ages)
- 51% of sports bettors are using ESPN BET more than they used to (vs 15% using it less)
“The US sports betting industry is a very competitive marketplace and maintaining loyalty from customers has proven to be difficult for sportsbooks, especially when new sportsbooks enter the market,” said Jeff Morris, VP at YouGov.
“Our research shows that the sportsbooks that incorporate key in-app features like live streaming sporting events can provide an advantage for driving interaction from current sports bettors and attracting prospective sports bettors.”
The report highlights key factors that would influence prospective sports bettors to create their first sportsbook account and provides an in-depth look at how sports bettor preferences vary across age groups.
An Arkansas casino is seeking approval to operate an iGaming app, allowing people within the state to go online to play casino games such as slots, blackjack, craps and more.
On March 13, Carlton Saffa, Chief Market Officer for the Saracen Casino Resort in Pine Bluff, wrote to Arkansas Racing Commission Chairman Alex Lieblong asking for a change in the rules to allow Internet casino gambling, which is often referred to as iGaming or iCasino platforms.
On Monday, Saffa told Gambling.com he hopes to appear before the Arkansas Racing Commission on May 6 seeking approval to offer iGaming. The Arkansas Racing Commission regulates all gambling matters in the state including horse racing and casino games.
iGaming Doesn’t Hurt Bricks-And-Mortar Casinos: Saffa
Nationwide, only a half dozen states from Michigan to Connecticut offer Internet casino gambling. Arkansas would be the first in its region with iGaming, permitting users who want to log onto a computer or download an app to play traditional casino games for money. Other states in the region already offer sports betting.
In his March 13 letter to state regulators, Saffa said estimates indicate Internet casino gambling from the Saracen Casino Resort alone would generate an additional $12 million in taxes annually for the state. Internet casino gambling, or iGaming, generally raises more tax revenue than sports betting in states that have both.
However, in some states without iGaming, casino operators have fought legalization, contending customers won’t visit a bricks-and-mortar casinos and spend money at restaurants and on other amenities including entertainment and lodging if they can log onto cellphones or computers and gamble from anywhere. In his letter to state regulators, Saffa pointed to research showing iGaming doesn’t cannibalize bricks-and-mortar casinos but instead gives them ‘a lift’.
State Rule Change Required
Arkansas already allows online poker, though that has not been made available to consumers, Saffa said. He said the ability to allow iGaming would require the Arkansas Racing Commission to amend a rule to include Internet casino games in addition to the currently legal online card games such as poker.
“A solution exists by amending ARC Rule 5, which already authorizes online poker, to include other types of table games and slots,” Saffa told Gambling.com on Monday. “Doing so would provide significant tax revenues to government and, just as important, ensure that operators be held accountable by the government. Given that we have seen online operators in the fantasy sports space ignore cease and desist demands from the state, merely attempting to police the matter is not a workable solution.”
Saffa recently made a similar argument on the topic of unregulated gambling, telling Gambling.com on The Edge he opposes a ban on college player props bets, saying, “Sunlight is the best disinfectant.”
“People in Arkansas are already gambling in online casinos and those companies are not regulated or taxed by the Arkansas Racing Commission,” Saffa said Monday. “Those companies are not held to the standards the people of Arkansas set forth for operators to include that a customer must be 21.”
Innovative game studios aggregator Casinogate has chosen to partner with Internet Vikings, a leading supplier of cloud hosting solutions for sports betting and iGaming. Internet Vikings provides its private VMware cloud hosting services to Casinogate, supporting their move into the Latin American market.
At the core of its business model, Internet Vikings assist companies expanding into new territories to start small and scale their infrastructure as their business grows. This perfectly aligns with Casinogate’s vision for a measured and successful launch in Latin America.
“Our tailored approach enables clients to invest in what they need now while providing the assurance of scalability as their operations widen into Latin America or elsewhere. This partnership allows Casinogate to focus on what they do best – creating exceptional games – while we handle the critical infrastructure,” shares Rickard Vikström, CEO and Founder of Internet Vikings.
One of Internet Vikings’ most distinguishing features is its commitment to personalized service. André Castro, Co-Founder and CEO of Casinogate, adds: “Their key account manager worked closely with us to understand our specific needs for the Latin American market. They developed a solution that scales perfectly with our anticipated goals, ensuring a smooth transition.”
From a technical standpoint, Internet Vikings leverages VMware, renowned for its user-friendly interface and reliability. This has translated into enhanced performance for Casinogate, with minimal latency experienced on their platform.
“Internet Vikings’ expertise in hosting and focus on strong partnerships make them an essential asset. We’re assured in delivering premium gaming experiences to our Latin American audience. Their professionalism, particularly during the initial VMware setup, instilled great confidence in us,” André Castro concludes.
The partnership between Casinogate and Internet Vikings exemplifies how industry leaders can leverage innovation and collaboration to achieve mutual success. By combining Casinogate’s thrill-seeking games with Internet Vikings’ cloud solutions, both companies are laying the foundation for a promising future in Latin American online gaming.
-
Latest News2 days agoXpoint Launches Groundbreaking New Capability to Reduce Geolocation Costs for Operators
-
Industry News7 days agoJennifer Shatley Joins ROGA as Executive Director
-
Latest News6 days agoOdditt Appoints Elaine Milardo as its New Chief Technology Officer
-
Gambling in the USA7 days agoPlay’n GO announces expansion of BetMGM partnership with Pennsylvania launch
-
Latin America7 days agoBetby Forges Strategic Partnership With Latam Powerhouse Cactus Gaming
-
Latest News7 days agoAEG and Yaamava’ Resort & Casino at San Manuel Announce 16th Year in Partnership, Shaping the Future of Sports and Live Entertainment Across Southern California
-
Latest News6 days agoBroadcast Legend Mike Francesa Renews Exclusive Partnership with BetRivers
-
Latest News3 days agoFBMDS, Planet Invest and EverPlay Score a Fantastic Goal in a Revolutionary Partnership Involving Ronaldinho Gaucho