Industry News of the Day for January 10, 2024

By iDEA | January 10, 2024

Industry News

  • PlayUSA: US Online Casinos Will Earn $7.8B This Year — 2024 Market Forecast
    • This year, regulated US online casino and poker sites will earn a combined $7.8 billion, I estimate. This represents an annual increase of 19% over 2023. The big three states — Pennsylvania, Michigan and New Jersey — should easily exceed $2 billion apiece. Coming into 2023, I had projected $6.5 billion in total revenue for that calendar year. Although December’s numbers won’t be available until the second half of January, it appears this is approximately correct.
  • Sports Handle: Where Would The TV Networks Be Without Sportsbook Ad Spend?
    • According to Nielsen, of the 100 most watched U.S. TV broadcasts of 2023, 93 (!) were NFL games. That number is up from 82 in 2022, 75 in 2021, and 72 in 2020. In fact, in 2023, each of the top 20 broadcasts were NFL games. And of the next 80 spots, three went to college football games and one went to the Super Bowl postgame show. So, what have we learned here? That football is quite popular in the U.S. of A. And, in turn, that the networks that have paid for the rights to air live football games presumably are thankful they did.

California

  • Legal Sports Report: Major US Sportsbooks To Oppose California Sports Betting Ballot Measures
    • A coalition of major US sports betting operators is publicly opposing the upcoming California sports betting initiatives. FanDuel Sportsbook, DraftKings Sportsbook, Fanatics Sportsbook, and BetMGM (the four members of the Sports Betting Alliance), oppose the efforts of proponents Kasey Thompson, Reeve Collins and Ryan Tyler Walz, a spokesperson for the SBA told LSR Tuesday. The signature-gathering effort to get the California sports betting initiatives on the November ballot was set to begin last weekend.

Florida

  • PlayFL: Pair Of Daily Fantasy Sports Bills Filed For 2024 FL Legislative Session
    • The Florida gambling market saw a massive expansion in 2023. Sports betting returned to the Sunshine State and craps and roulette were added to the state’s casinos. That was all thanks to a lengthy legal battle reinstating the 2021 Florida gaming compact. With the court case out of the way and Florida sports betting up and running, 2024 looked like it would be a quiet year for lawmakers on the gambling front. That’s not the case. The 2024 legislative session kicks off Tuesday, and two bills regarding daily fantasy sports are in the pipeline.

Georgia

  • Capitol Beat News Service: Sports Betting Bill Passes Out Of Georgia Senate Committee
    • A Georgia Senate committee passed a sports betting bill Tuesday on just the second day of this year’s legislative session, kicking off a debate that’s likely to last all 40 days under the Gold Dome. The Regulated Industries & Utilities Committee voted 8-3 to let Georgians bet on sports either online or at remote terminals or “kiosks.” The state would retain 20% of the gross revenue from most sports bets and 25% from “high-profit” bets including live bets placed during games. The money would go toward various state programs to be spelled out in a separate constitutional amendment.

Illinois

  • PlayIllinois: Illinois Casino Revenue Jumps Past $141 Million In December
    • Illinois casinos saw a boost in revenue in December. It was both a month-over-month improvement and a year-over-year advancement. Nearly 1.1 million people visited one of the casinos in Illinois during the last month of 2023, a 30% YoY growth. Admissions were also 10% higher than in November. Casinos generated $141.2 million in adjusted gross revenue in December, a 7.7% improvement compared to the month prior and a growth of 19% compared to December 2022. It resulted in casinos paying $37.8 million in taxes to the state in December.

Indiana

  • SBC Americas: 3 Takeaways From Spectrum Study On Potential Indiana iGaming Market
    • Indiana gaming regulators are evaluating the potential inclusion of internet casino wagering. The Indiana Gaming Commission has teamed up with Spectrum Gaming Group to deliver an updated study on the potential impact of internet casino gaming in the Hoosier State. In 2022, the IGC summoned Spectrum to conduct a study on iGaming in Indiana and, a year later, the regulator requested an update from the consultancy company that included recent data. The update paints a picture of what the addition of iGaming to Indiana’s gaming market could look like for a state that reported a total sports betting handle of $513.6 million last November.

Maine

  • Gaming Today: Maine Lawmakers Look To Legalize iGaming In 2024
    • Maine’s legislative agenda for 2024 holds the promise of expanding gambling horizons beyond sports betting. With the successful introduction of online sports betting in late 2023, Maine is now preparing to broaden its gambling offerings to include iGaming. While a faction of lawmakers within the state shows unwavering support for the passing of iGaming legislation, significant obstacles stand in the way. Despite these challenges, the state remains resolute in its commitment to actualize this initiative within the early phase of the year.

North Carolina

  • NC Sharp: Gov. Cooper Sends Second Reminder To Regulators To Launch Sports Betting By March Madness
    • On Tuesday, North Carolina Gov. Roy Cooper doubled down on his push to get regulators to launch online sports betting before March Madness. Cooper told reporters after Tuesday’s Council of State meeting, “The idea is to try to get it in place before March Madness. There’s a lot going on at the Lottery Commission to make sure that that process goes the right way.” March Madness officially kicks off on March 19 with the First Four matchups. The first full round of games begins on March 21.

Ohio

  • PlayOhio: ESPN BET’s Early Ohio Success Could Be The Start Of A New Leaderboard
    • ESPN Bet hit the ground running during its first month of operation in Ohio. The brainchild of ESPN and PENN Entertainment had the third-largest handle of all Ohio online sportsbooks in November. Only industry titans FanDuel and DraftKings accepted more wagers. The fact that ESPN Bet Ohio cracked the top three in its first month in Ohio is quite the feat. But is it a fluke? Or is this a sign that ESPN Bet could be a sustainable option within the top group? The newcomer on the block totaled a handle of $70.8 million and boasted the highest hold of any operator at 16.9%.

Utah

  • Bonus.com: Utah Begins Its Longshot Effort to Establish A State Lottery
    • Utah House Rep. Kera Birkeland, R-Morgan, has attracted a lot of attention with a proposal for a constitutional amendment to create a state lottery. She plans to file a bill that would have to pass in the legislature before going to voters in the November 2024 elections. The lawmaker says revenue generated from the lottery could help alleviate the pressure homeowners have been feeling from rising property taxes. Birkeland told local news outlets that she knows she’s facing an uphill battle and is ready for it. Utah is one of only two states with no legal gambling whatsoever, the other being Hawaii.
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