Industry News of the Day for October 18, 2023

By iDEA | October 18, 2023

Industry News

  • Gaming Today: LeagueSafe Data Suggests Significant Fantasy Football Growth
    • LeagueSafe has been in business since 2008, helping fantasy football commissioners collect entry fees and ensuring players get paid when they win. Since the company’s formation, it has been a favored tool among fantasy football players. LeagueSafe’s early data from the 2023-24 NFL season suggests that fantasy football is more popular than ever. This year, the company collected more than $31.5 million in entry fees from over 56,000 private fantasy football leagues. Additional data points to the ongoing growth of fantasy football, even in the midst of sports betting’s rapid expansion.

Alabama

  • SBC Americas: Alabama Democrats Hoping For Gambling Legislation In 2024
    • Democrats in Alabama are exploring the possibility of adding pro-gambling policies into the 2024 legislative session. As part of a decades-long battle to legally expand gambling in the state, the Democrat party is seeking to use gambling legislation as a key policy platform heading into next year as it pursues a pro-growth strategy.  WSFA reports that House Minority leader Anthony Daniels hopes for an agreement to be reached in the statehouse for further gambling provisions in the state to help boost the state economy.

California

  • Play USA: Analysis: What Happened To The California Tribe’s Sports Betting Initiative?
    • Here’s the latest on California sports betting possibilities based on conversations with many tribal stakeholders. Talk began last Friday and picked up over the weekend that Pala was preparing to file a sports betting initiative this week. On Sunday, with many tribal leaders inquiring about Pala’s intentions, Chairman Robert Smith texted some tribal leaders to explain. Forwarded to PlayUSA by a source, the text read: “Heads up Pala Band of Mission Indians is issuing a press release tomorrow sports wagering initiative for 2024, look forward to working with tribes!”

Colorado

  • Play Colorado: Colorado Sports Betting Revenue Up To $25.8M In August, Mirrors 2022 Total
    • For the second consecutive month, sports betting revenue in Colorado has climbed back toward normalcy after a devastating June for operators. After just $9.2 million in sports betting revenue in June, revenue climbed to just under $25 million in July and even higher in August to $25.8 million. While still a far cry from the 2023 high of $46 million in March, sports wagering revenue in August was in line with expectations thanks to the steady stream of wagers on baseball. Colorado’s sports betting revenue is virtually the same as it was in August 2022, when there was nearly $25.9 million in revenue. The difference is less than 1%.

Illinois

  • Play Illinois: August Sports Betting Shows Growth In Illinois, Outpacing 2022 By 19%
    • August was no dog for sports betting operators in Illinois. Looking over numbers just released from the Illinois Gaming Board, sports wagering during the month, by most comparisons, was solid. July marked a milestone as Illinois became the third US state to cross the $2 billion threshold in adjusted growth income. Another milestone was marked in August: The state has surpassed $25 billion in total handle, after reporting a handle of just over $675 million for the month. August is a notoriously slow month for sports betting, with only pre-season games in professional football to wager on and no pro basketball or hockey.

Kentucky

  • Legal Sports Report: How Will Lower Kentucky Sports Betting Age Affect Neighbors?
    • As online Kentucky sports betting kicked off last month, it became the largest market to allow 18-year-olds to wager. DraftKings and bet365 are the only two sportsbooks that will accept wagers by bettors under 21 in the Bluegrass State. Kentucky is one of five US markets to allow those ages 18 and up to place legal mobile sports betting. While the potential financial impact of the young bettors is likely not large, the age limit could cause responsible gambling-related issues. Additionally, the Kentucky sports betting age limit will likely have spillover effects by attracting bettors from nearby states who are not yet of legal age in their home markets.

Massachusetts

  • Sports Handle: Massachusetts Gaming Commission Looks To Fill Top Positions
    • The Massachusetts Gaming Commission, which has been without key staff leadership for months, has been advancing the process toward filling two critical positions. Executive Director Karen Wells announced her resignation early in the summer, and her last day was July 14. Investigations Enforcement Bureau Chief Loretta Lilios left the MGC in August. On Oct. 3, the MGC posted a job opening for the executive director position on its website. That posting currently has no expiration date. The commission has plans to move forward in the coming months with interviewing candidates to replace acting director Todd Grossman, who is also MGC counsel.

New Jersey

  • Play NJ: Decade Later, NJ Online Casinos Still Growing With Near-Record September
    • Online casinos in New Jersey posted their second-highest revenue grossing month ever in September, narrowly missing the highwater mark set earlier this year. According to recent data from the state Division of Gaming Enforcement, NJ online casinos generated just under $163.8 million last month, a 21.1% year-over-year increase compared to September 2022. September’s results are less than $2 million short of the $165.7 million posted in March, which is the largest monthly NJ online casino revenue total in the 10 years of legal online gambling in the Garden State.

North Carolina

  • NC Sharp: North Carolina Targets Bonus Abuse In Sports Betting Regulations
    • North Carolina sports betting will launch in 2024, possibly in January. Once it does, the market will benefit from the lessons learned in other jurisdictions. Regulations will specifically strive to combat bonus abuse. What is bonus abuse? It’s when consumers fraudulently create multiple accounts with a sports betting app to secure promotional bonuses. Such activity violates NC Sportsbooks’ terms of service. North Carolina sports betting law also prohibits this. Why does NC’s sports betting law limit bonus abuse by fraudulent sports bettors? Because it hampers the ability of sportsbooks to use their marketing dollars to acquire customers.

Ontario

  • Play Canada: By Population, Ontario Still Underperforming In North American iGaming
    • We finally have a complete picture of how the first year of the Ontario online gambling sector stacked up to similar gambling jurisdictions across the United States. Bottom line: While Ontario has improved its standing, a PlayCanada analysis finds that the province still has a long way to go to catch comparable US regions. The Ontario Lottery and Gaming Corporation recently released its annual report for 2022-23, revealing how much the Crown corporation’s wagering options contribute to the province’s thriving online gambling — also known as iGaming — scene.

West Virginia

  • PlayWV: WV Online Casinos On Pace For Nearly $150 Million In Yearly Revenue
    • West Virginia is going to have a record-breaking year for online casino revenue, it’s just a matter of time. The Mountain State should come close to $150 million in yearly earnings in 2023. With a strong last quarter, it could even eclipse that mark. West Virginia online casinos have been on fire this year, but revenue still doesn’t come close to some other larger states in the industry. However, we can measure West Virginia’s percentage increase to see a better comparison. West Virginia operators have already generated $111.5 million in revenue through September. After last month’s total of $12.7 million, West Virginia online casinos are averaging $12.4 million per month.
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