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PlayNJ.com: New Jersey sportsbooks nearly hit $1 billion in December; set U.S. annual handle record

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New Jersey fell just short in December of becoming the first state to accept $1 billion in sports bets in a single month, but still extended a streak of record-setting months while reaching a record $6 billion in wagers for the year. This while online casinos and poker set a new high, again helping to stem the millions in revenues losses by struggling Atlantic City casinos, according to PlayNJ, which offers news and analysis of the state’s gaming industry.

“A unique set of circumstances, most notably a once-a-century pandemic, sent online sports betting to these previously unfathomable highs,” said Dustin Gouker, lead analyst for PlayNJ.com. “The pandemic has had a diametrically opposite effect on New Jersey’s online and retail markets for both sports betting and casino games. But the growth of online betting was crucial in making up for at least some of the losses in revenue at Atlantic City casinos and certainly continue to steady the entire gaming industry.”

In December, New Jersey’s sportsbooks collected a record $996.3 million in wagers, according to official data released Wednesday. That surpassed the record $931 million bet in November, and marked the fifth straight month the state has set an all-jurisdiction record. Since August, sportsbooks have amassed $4.1 billion in bets.

December’s bets generated a record $66.4 million in revenue. Year-over-year, handle was up 78.6% from the $557.8 million bet in December 2019 and revenue was up 125.6% from $29.4 million in December 2019. December’s bets produced $8.3 million in state taxes.

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For all of 2020, New Jersey’s retail and online sportsbooks produced:

  •  $6.02 billion in bets — a record for any legal jurisdiction despite major U.S. sports being shut down for four months —and up 31.3% from $4.6 billion in 2019.
  • $5.5 billion in online wagering, up 44.2% from $3.8 billion in 2019.
  • $398.5 million in operator revenue, up 33.1% from $299.3 million in 2019.
  • $50.1 million in state taxes and $15 million in local taxes.

“Even when post-pandemic life returns to normal, online sports betting won’t likely give up its gains from this year,” said Eric Ramsey, analyst for PlayNJ.com. “The silver lining for the industry was that this year was an opportunity for online operators to focus heavily on their products and build their customer base, using a combination of technology improvements and aggressive promotions. That has matured the market far more quickly than was projected.”

Online betting generated 93.3%, or $929.3 million, of the state’s total handle in December, down from 93.6% in November. FanDuel Sportsbook/PointsBet topped online operators with $29 million in gross revenue, up from $21.2 million in November.

FanDuel was followed in revenue by:

  • Resorts Digital/DraftKings/Fox Bet ($15.4 million, up from $14.6 million in November)
  • BetMGM/Borgata ($6.3 million, up from $1.3 million)
  • Monmouth/William Hill/Sugarhouse/TheScore ($3.3 million, up from $1.9 million)
  • Ocean Casino/William Hill ($3.2 million, down from $3.6 million)
  • Hard Rock/Bet365/Unibet ($562,188, up from $363,099)
  • Caesars Sportsbook/888sport ($489,141, up from $247,615)
  • Golden Nugget/BetAmerica ($343,849, up from $199,667)
  • Tropicana/William Hill ($108,427, up from $105,028)

Retail sportsbooks generated $67 million in bets, down from $75.9 million in December 2019. Meadowlands/FanDuel topped retail books in December with $4.2 million in revenue. For the year, retail books generated $38.6 million in revenue, down from $54.9 million in 2019.

“The race for market share seems to be frozen in place,” Gouker said. “An expected launch of Penn National’s Barstool-branded sportsbook in 2021 could shake things up, but as of yet no operator has really eaten into the market share of FanDuel or DraftKings.”

Online casinos and poker just miss $100 million

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New Jersey’s online casinos and poker rooms generated a record $99.5 million in revenue, up 101.6% from $49.3 million in December 2019 and shattering the previous record of $93.5 million. The month produced $14.9 million in state taxes.

December closed the books on a remarkable year in which online casinos tallied $970.3 million in revenue — a 101% gain over the $482.7 million in 2019 — and produced $145.7 million in state taxes. With revenue at retail casinos down $1.2 billion for the year compared with 2019, the dramatic rise in online gaming revenue was critical in offsetting some of the losses.

“It’s scary to think of where New Jersey’s gaming industry would be without online casino gaming,” Ramsey said. “Every dollar of revenue gained and tax dollar generated from online gaming proved desperately needed.”

Some other highlights from December’s report:

  • Online casinos and poker generated $3.2 million a day over 31 days in December, up from $3.1 million a day over 30 days in November.
  • Golden Nugget led online casinos with $29.4 million in December revenue, up from $26 million in November. But Borgata continued to eat into a market lead that once seemed insurmountable, hitting $27.2 million in December. Resorts Digital was third with $21 million.
  • Revenue from online casinos was $96.4 million, up from $89.4 million in October. Online poker produced $3 million, up from $2.4 million in October.

For more information and analysis on regulated sports betting and online gaming in New Jersey, visit PlayNJ.com/news.

 

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About the PlayUSA.com Network:

The PlayUSA.com Network is a leading source for news, analysis, and research related to the market for regulated online gaming in the United States. With a presence in over a dozen states, PlayUSA.com and its state-focused branches produce original daily reporting, publish in-depth research, and offer player advocacy tools related to the advancement of safe, licensed, and legal online gaming options for consumers. Based in Las Vegas, the PlayUSA Network is independently owned and operated, with no affiliations to any casino — commercial, tribal, online, or otherwise.

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British Columbia Lottery Corporation

SCCG Management Signs Contract with British Columbia Lottery Corporation

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SCCG Management has signed a contract with the British Columbia Lottery Corporation (BCLC), the B.C. Crown corporation which conducts and manages commercial gambling in the province, including lotteries, casinos, and online gaming. This partnership aims to undertake a comprehensive assessment and strategic enhancement of BCLC’s diverse operations.

The work between SCCG and BCLC will involve a thorough review of technological infrastructures, strategic market positioning, and the integration of various gaming modalities. SCCG’s extensive expertise will be pivotal in harmonizing BCLC’s online and physical gaming experiences.

Stephen Crystal, Founder and CEO of SCCG Management, said: “Our collaboration with BCLC represents a remarkable opportunity to push the boundaries of innovation within the gaming industry. We are committed to deploying our resources and expertise to enhance BCLC’s operational efficiencies and customer engagement strategies. It’s an honor to partner with an organization that has a robust impact on the community through its support of public initiatives.”

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AGCO

AGCO Requires Ontario Gaming Operators to Stop Offering WBA Bets Due to Integrity Concerns

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The Alcohol and Gaming Commission of Ontario (AGCO) has mandated all Ontario-registered sportsbook operators to halt offering and accepting wagers on World Boxing Association (WBA) events immediately. This measure is being taken to protect the Ontario betting public following concerns that WBA-sanctioned boxing matches are not adequately being safeguarded against match-fixing and insider betting.

Since December 2023, the AGCO has been conducting a comprehensive review of suspicious wagering activity on a WBA-sanctioned title fight between Yoenis Tellez and Livan Navarro that was held in Orlando, Florida. Suspicious betting patterns on the bout lasting over 5.5 rounds were reported to the AGCO by two registered independent integrity monitors and detected in Ontario by a registered igaming operator. Media reports also alleged that Tellez’s Manager placed $110,000 on the match lasting longer than 5.5 rounds at a Florida casino. The bout ended with Tellez knocking out Navarro in the 10th round.

Following an intensive review that included outreach to the WBA, Ontario-registered gaming operators, independent integrity monitors, and regulators in other jurisdictions, the AGCO has concluded that bets related to WBA events do not currently meet the Registrar’s Standards for Internet Gaming.

The AGCO requires all Ontario-registered gaming operators to ensure the sport betting products they offer are on events that are effectively supervised by a sport governing body. At a minimum, the sport governing body must have and enforce codes of conduct that prohibit betting by insiders.

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Registered gaming operators were unable to demonstrate to the AGCO that the WBA prohibits betting from insiders, which could include an athlete’s coaches, managers, handlers, athletic trainers, medical professionals, or others with access to non-public information. Further, registered gaming operators were unable to demonstrate that the WBA took any action to investigate or enforce the allegations of potential match-fixing and insider wagering.

The AGCO has indicated to registered operators that in order for WBA betting products to be reinstated in Ontario, operators must demonstrate that the WBA effectively supervises its events, thus bringing them into compliance with the Registrar’s Standards. In December 2022, the AGCO required gaming operators to stop offering bets on UFC events for similar issues related to insider betting safeguards. Within a month, UFC amended its policies and implemented new protocols that allowed the AGCO to reinstate betting on UFC events in the province.

“Ontarians who wish to bet on sporting events need to be confident that those events are fairly run, and that clear integrity safeguards are in place and enforced by an effective sport governing body. Knowing the popularity of boxing in Ontario, we look forward to reinstating betting on WBA events once appropriate safeguards against possible match-fixing and insider betting have been confirmed,” Dr. Karin Schnarr, Registrar and CEO of AGCO, said.

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Andrew Cochrane Chief Business Officer of GiG

GiG increases Ontario market presence, powering the launch of Casino Time

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Gaming Innovation Group Inc. (GiG), has announced the launch of Casino Time, powered by its award winning iGaming platform and pioneering real-time rules engine LogicX, with revolutionary sportsbook, SportX soon to follow, to further extend its footprint in the regulated Canadian province of Ontario.

The launch of Casino Time carries extra significance, marking only the second time that on-demand, regulated online Bingo has been made available in Ontario. The new Bingo product vertical, launched alongside a strong Casino offering, will be boosted by GiG’s new sportsbook, SportX, as part of a planned release later this year.

GiG has focused its solutions on driving exponential growth in revenue for operators with its highly scalable iGaming platform, offering localised third party content and leading suppliers for the Ontarian market. GiGs peerless gamification layer creates an optimised and immersive casino experience tailored to regional preferences, swelling client retention and player engagement.

Canadian owned and operated, Casino Time is a joint venture amongst leading retail operators in Ontario’s Charitable Gaming sector, delivering Bingo, Slots and Live Dealer Casino Games. Promising a personalised service and community experience, Casino Time is continuing its long-standing partnership with local charities, introducing its joint fundraising model into the iGaming space for the first time.

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Now coming towards the end of its second year of licensed operations, Ontario has emerged as one of the largest iGaming markets in North America, second only to New Jersey according to data supplied by Vixio. The first and as yet only Canadian province to launch a regulated market, Ontario boasts more than 1.6 million active player accounts spread over 40 plus operators, generating €1.3 billion in Gross Gaming Revenue (GGR) in its first year of trading, with this data supplied by iGaming Ontario.

Andrew Cochrane, Chief Business Officer of GiG, said: GiG continues to set the pace with a strong cadence of brand launches in 2024, and I’m pleased that when operators are seeking platform solutions in regulated markets, GiG is leading the pack. Our partnership with Casino Time, will help deliver something new and exciting to the Ontarian market, and further helps to demonstrate the flexibility of our solutions, adapting to match the regional aspirations of our partners to deliver growth.

D’Arcy Stuart, CEO of Casino Time, said: “We are thrilled to partner with GiG as the core technology provider of our iGaming platform. Their powerful suite of player engagement tools, as well as diverse content and regulatory integrations, underpin our ability to serve and delight our player community. Our hybrid online and offline customer network, as well as unique bingo offerings, will drive exciting opportunities as the platform and the marketplace continues to grow.”

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