Press Releases
PlayTenn.com: Sportsbooks flat in August ahead of football season
Tennessee sportsbooks extended the summer slowdown into August, matching July’s 2021 low in wagers ahead of the year’s busiest four-month stretch, according to PlayTenn, which tracks the Tennessee gaming market.
“After an up and down summer, it would’ve been encouraging to see some growth in handle ahead of what is a crucial period in the industry,” said Nicole Russo, analyst for PlayTenn.com. “No sport motivates bettors like football, though. And a surge in betting this fall will put an end to the slower summer months.”
Bettors placed $144.5 million in wagers during the 31 days of August, even with July, according to official data released Monday by the Tennessee Education Lottery and Sports Wagering Advisory Council. The pace of betting remained $4.7 million per day in August from $4.7 million per day over the 31 days in July.
Gross gaming revenue ticked down to $13.2 million from $15.2 million in July. August’s revenue produced $10.1 million in taxable revenue, which yielded $2.0 million in tax revenue.
Only a handful of college football games were played in August, and none that included Tennessee, Memphis, Middle Tennessee, or Vanderbilt. The NFL schedule was even more spartan, limited to preseason games, including three with the Tennessee Titans.
But September is another matter, marking the beginning of the first full football season of legal betting in Tennessee. In 2020, a year marred by the shutdown of major sports for months, 60.2% of the money wagered legally in the U.S. was placed from September through December. In 2019, 50.8% of all legal wagers were made during the last four months of the year.
“This is the most important time for the industry, but we still don’t know for certain how bettors in Tennessee will engage over a full football season,” said Eric Ramsey, analyst for the PlayUSA.com Network, which includes PlayTenn.com. “It seems like a safe bet that wagering on football will likely represent a greater share of Tennessee’s annual handle than the national average.”
Tennessee also saw a shakeup in its mix of operators in August with Barstool Sportsbook’s launch just ahead of the NFL season. Barstool adds a familiar brand to Tennessee’s mix, and it has performed well in other states that it operates.
Regulators also approved a new social sports betting brand, Wagr, which is expected to launch during the football season.
“College football and the NFL aren’t just important in terms of the wagers they generate, they also represent the greatest opportunity for sportsbooks to grow their customer base,” Russo said. “The result is aggressive promotions from established operators, and new operators scrambling to launch before kickoff.”
For operator data and more information on regulated sports betting in Tennessee, visit PlayTenn.com/revenue.
Latest News
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.
“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.
Latest News
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.
Canada
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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