Industry News of the Day for September 30, 2022
iDEA Growth in the News
- Bonus.com, 9.29.22 – Gen Z Most Desired Group of US Online Casino Players, Less Profitable Than Gen X
- One of the biggest struggles in the business world is between long- and short-term thinkers. Usually, quarterly results win out. Surprisingly, the industry many believe is all about immediate gratification — the US online casino vertical — appears to be filled with online gambling operators who are thinking about customer lifetime value (LTV). iDEA Growth is mentioned in this story.
- SBC Americas, 9.29.22 – New Indiana online casino report projects $469M in Year 1 revenue if legalized
- Indiana is said to be one of the states most interested in legalizing online casinos. The Indiana Gaming Commission (IGC) took the step of commissioning a report from Spectrum running down not just how much money the state could make off the venture but also the best ways to approach licensing, responsible gambling, and taxation. iDEA Growth is mentioned in this story.
iDEA Growth Member News
- SBC Americas, 9.30.22 – DraftKings relaunches Pink ‘Em initiative for breast cancer research funds
- DraftKings has announced that its Pink ‘Em charity initiative has returned for a fourth time, aiming to raise $100,000 for breast cancer research and support. DraftKings CEO Jason Robins is quoted in this story.
- Bonus.com, 9.29.22 – Venmo Gambling Sites – Legal Venmo Betting in the US
- Betting apps with Venmo have been elusive for years. But, finally, Venmo is starting to become available to bettors in states with legal online gambling. Right now, DraftKings and FanDuel are the only two legal US gambling apps that accept Venmo.
Sports League News
- iGB, 9.30.22 – Major League Baseball partners AGA for responsible gambling drive
- Major League Baseball (MLB) has entered into a partnership with the American Gaming Association (AGA) and its ‘Have A Game Plan. Bet Responsibly’ public service campaign to broaden its responsible gambling efforts.
- Play CA, 9.29.22 – Q&A: Bill Miller On What’s Next For CA Sports Betting, U.S. Gambling
- More than two years removed from the worst of the coronavirus pandemic, the U.S. gambling industry is setting records. Retail casino, online gambling and sports betting all continue to grow, even as larger economic factors impact other industries.
- California Casinos, 9.29.22 – Here’s How Many Votes Prop 27 Needs to Pass in California
- Things don’t look too good for Prop 27, the California online sports betting measure on the Nov. 8 ballot. A yes vote on Prop 27 would help create a path forward for sports fans and bettors to legally gamble from computers or mobile devices anywhere in the state. It would create more than $3 billion in annual sports betting handle and state revenue taxes in the mid-hundred millions.
- Legal Sports Report, 9.29.22 – Insiders Doubt CA Prop 26, Prop 27 Pass: ‘It Doesn’t Look Good’
- Pessimism persists surrounding the passage of sports betting measures Prop 26 and Prop 27 on the November ballot in California.
- Play Indiana, 9.29.22 – Indiana Online Gambling Could Soon Be Legal With Study’s Help
- The Indiana Gaming Commission (IGC) employed the services of Spectrum Gaming Group earlier this year. Spectrum was to perform a study into how prospective online casino gambling would impact Indiana gambling revenue. Howard Glaser, Head of Government Affairs at Light & Wonder, is quoted in this story.
- Play IA, 9.29.22 – Iowa And Nebraska Self-Exclusion Gambling Lists Explained
- As gambling becomes more popular, Iowa and Nebraska are taking steps to ensure those addicted can get help. The Nebraska gambling industry is relatively new, with its first casino opened on Sept. 24 in Lincoln. Meanwhile, Iowa’s gambling industry has been around for more than 30 years.
- Sports Handle, 9.30.22 – Nevada Regulators Warn Sportsbooks That Reporting Delays Will Not Be Tolerated
- A settlement last week between William Hill U.S. and the Nevada Gaming Commission resolved a series of violations stemming from a flaw in the sportsbook operator’s legacy technology platform.
- US Bets, 9.29.22 – Nevada Sports Wagering Handle, Revenue Hit 2022 Lows In August
- August was another relatively good month for bettors in Nevada, but another light month for the house when it came to sports wagering action. The Nevada Gaming Control Board reported on Thursday handle totaling $408.9 million for August, the lowest of any month not directly affected by the pandemic since the $287.8 million wagered in August 2019. Summertime is usually a slower period for sportsbooks, especially in Las Vegas, as baseball is the primary option for bettors before September sees a notable ramp-up with the start of football season.
- iGB, 9.30.22 – RI sports betting bounces back in August as revenue hits five-month high
- The Rhode Island Lottery reported year-on-year growth within the state’s sports betting market in August, while revenue reached its highest monthly total since March 2022.
- Play Virginia, 9.29.22 – Virginia Betting Companies Team Up For Responsible Online Gaming Pact
- Some of most popular Virginia sportsbooks are working together to help promote responsible online gaming in Virginia and across the country. The result is some of the first national, industry-led responsible gaming standards. Entain Senior Vice President for American Regulatory Affairs and Responsible Gambling Martin Lycka is quoted in this story.