Industry News of the Day for August 29, 2023

By iDEA | August 29, 2023

Industry News

  • Legal Sports Report: Analysis: How US Sports Betting Passed $250 Billion Wagered In Five Years
    • July reporting brought the US sports betting industry across another big milestone, surpassing $250 billion in lifetime handle since the repeal of PASPA in 2018. Those bets have yielded more than $20 billion in gross revenue, representing an operator hold of 8.1%. That number, like many in US sports betting, is artificially inflated by a big injection of promotional credits and localized bonuses.
  • PlayUSA: Galaxy Gaming CEO Says Second Quarter Set Records
    • Casino table game and systems developer Galaxy Gaming announced its financial results for the second quarter (Q2 2023) and six months ending June 30 (H1 2023). The supplier raised full-year revenue guidance for its 2023 financial year after record performance in Q2 2023. Galaxy Gaming CEO Todd Cravens said the success was driven by growth in both its US online gambling and land-based businesses.
  • Associated Press: New Tool Will Allow College Athletes To Report Gambling Suspicions To A Sports Wagering Monitor
    • A digital platform where college athletes can alert their administrations anonymously to improper or illegal conduct by coaches, teammates or others is expanding to allow them to report suspected gambling activity. RealResponse’s partnership with U.S. Integrity, which monitors sports wagering trends in real time to detect irregularities, will come at no additional cost to some 150 athletic departments that are clients.

Iowa

  • SBC Americas: Iowa Regulators Propose More Stringent Language About Sportsbook Account Sharing
    • The rules about how old you need to be to wager in Iowa and the fact you have to use your own account to bet are already written into state regulations. However, the Iowa Racing and Gaming Commission wants operators to take new steps to clearly communicate these rules to users. The proposed regulations come after dozens of athletes at both Iowa and Iowa State Universities have been implicated in a sports betting scandal.

Kentucky

  • Bonus.com: 18 Is Old Enough To Pre-Register At Some Kentucky Sportsbooks
    • By law, Kentucky sportsbooks can only serve bettors aged 18 and older. So as pre-registration opened at 6 a.m. on Aug. 28 for the state’s eight legal online sports wagering operators, it became apparent that some sites would adhere to Kentucky’s law rather than the industry standard of 21-plus. Bet365 and DraftKings are sticking with the minimum legal age.

Massachusetts

  • PlayMA: Lawyer Doubts ‘Saturated’ Massachusetts Market Can Support More Sportsbooks
    • Right now, there are eight online sportsbook options for bettors in Massachusetts. By January, in theory, there will be 10 — if Bally Bet’s re-branded re-launch lands in the Bay State, and if United Kingdom-based Betway holds true to its word and launches a Massachusetts product in January 2024. Ten options for the 16th-most-populated state in the US feels like plenty. Especially for a low-margin business.
  • Legal Sports Report: MA Sports Betting Board Grants Extension For Data Privacy Plans
    • MA sports betting operators have been granted an extension by the state’s gaming commission as they attempt to figure out how to comply with what will be the strictest data privacy regulations in the country. The Massachusetts Gaming Commission granted the operators of MA sportsbooks a temporary 60-day waiver through Nov. 17. Further detail and implementation plans will need to be provided by operators over that span.

Michigan

  • Play Michigan: WynnBet Online Casino Hits Low Mark In July As Michigan Remains Under Review
    • Michigan’s monthly revenue reports have to be viewed very closely by WynnBet. The online operator announced plans to close operations in eight states earlier in August. It also put its Michigan operations under review. That review means each monthly Michigan online casino revenue release has a little added emphasis as it determines whether or not to stay in the state.

New Jersey

  • PlayNJ: NJ Lottery Looks To Start Draw Game Sales Online In 2024, But Legal Opposition Possible
    • Online lottery in New Jersey will be expanding next year, with direct digital sales of certain games scheduled to begin in fall 2024. While internet lottery in the Garden State is not a novel concept, the decision by New Jersey Lottery officials to allow direct ticket purchases from a state-run website and app is drawing criticism from small business owners and a handful of lawmakers.

North Carolina

  • NC Sharp: Problem Gambling Research Can Guide North Carolina Sports Betting Regulators
    • In the lead up to the launch of online sports betting in North Carolina, the National Council on Problem Gambling has found that male college graduates invested in sports and sports betting are most susceptible to problem gambling habits. The NCPG’s research in jurisdictions with legal sports betting, casinos and lotteries could prove important for regulators confronting North Carolina responsible gambling.
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