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PlayVirginia.com: Sports betting falls to less than $240 million in April, the first month of expected seasonal decline
Virginia sports betting declined month-over-month for the first time since launching in January, continuing a nationwide trend of falling betting volume. The drop in wagering to less than $240 million in April was expected, a product of a slower spring and summer sports schedule, according to PlayVirginia, which tracks the state’s gaming industry.
“April is a reminder of the seasonality of sports betting, and Virginia is not immune,” said Jessica Welman, analyst for the PlayUSA.com Network, which includes PlayVirginia.com. “In the U.S., there really isn’t any way to replace the popularity of the NFL or the NCAA Tournament with bettors. The seasonal slowdown should last until football season, which will almost certainly return the market to significant growth.”
Virginia sportsbooks attracted $236.4 million in bets in April, according to data released Friday by The Virginia Lottery. That is down 22.2% from $304.1 million in March and the lowest monthly handle of any of Virginia’s first full three months of sports betting. With no major sports holiday to spur interest, sportsbooks took in $7.9 million per day over the 30 days in April, down from $9.8 million in March.
Sportsbooks still won $19.4 million on April’s bets, down from $26.6 million in March. April’s win led to $11.4 million in adjusted gross revenue, down from $13.8 million but still a higher share of gross revenue than in March. That yielded $1.7 million in state taxes, including $41,304 for problem gambling support.
Every state with legal sports betting has reported a month-over-month decline in April wagering. Of the largest sports betting markets in the U.S. that have already reported April data, Indiana (-25.4%), Iowa (-26.7%), and Michigan (-30.5%) all experienced a more dramatic month-over-month decline than Virginia. New Jersey (-13%), Tennessee (-13.6%), Pennsylvania (-14.4%), and Colorado (-18.8%) were better.
“The lighter sports schedule came at a time when the initial enthusiasm from the launch of sports betting naturally began to wane in Virginia, which steepened the monthly decline,” said Dustin Gouker, analyst for PlayVirginia.com and the PlayUSA.com Network. “Still revenue held relatively strong, producing the most tax revenue to date for the commonwealth. That is a good sign heading into summer.”
Now with $865.2 million in wagering since launching in late January, Virginia is still on the precipice of becoming the quickest state to reach the $1 billion milestone. That distinction is currently held by Tennessee, which reached the mark six months after launch. Assuming Virginia can top $135 million in bets in May, it will have hit $1 billion in the market’s fifth month of existence.
Even more, Virginia could see a modest boost in the coming months from the NBA playoffs lasting deeper into summer than normal and the Olympics. And more operators are still expected to launch before the beginning of football season, including the expected addition of Penn National’s highly popular Barstool-branded app.
“Virginia’s market remains in an excellent position,” Welman said. “In fact, Virginia stands should be able to avoid the worst of the typical summer swoon, which will really set the market up for a huge fall.”
For more information and analysis on regulated sports betting in Virginia, visit PlayVirginia.com/revenue.
Bally Bet Sportsbook & Casino app
Bally’s Interactive Launches the New Bally Bet Sportsbook & Casino App in Ontario
Bally’s Interactive, the digital and sports betting division of Bally’s Corporation, has launched the all-new Bally Bet Sportsbook & Casino app in Ontario, Canada. This latest release marks another significant milestone for the company, following the recent app update in New Jersey and a series of successful app launches in the past year, including the introduction of Bally Bet Sportsbook across multiple states and Bally Casino in Rhode Island.
The updated Bally Bet Sportsbook & Casino app represents a major step forward, as it combines the functionalities of the existing Bally Casino app and Bally Bet Sportsbook app into one comprehensive platform. Powered by White Hat Gaming, this new app allows players residing in or traveling to Ontario to conveniently place wagers on both sports and casino games using a single app, account, and universal wallet.
“We are thrilled to introduce the new Bally Bet Sportsbook & Casino app, marking a significant milestone for Bally’s. This integrated platform merges the features of our previous apps, providing players in Ontario with a seamless experience for both sports and casino betting. Our commitment to enhancing the player experience remains at the forefront as we strive to personalize the enjoyment of playing Bally Bet,” said Robeson Reeves, CEO of Bally’s Corporation.
BCLC reminds adults to gift responsibly this holiday season
With the holiday season in full swing, BCLC is reminding British Columbians to gift responsibly and scratch lottery products from their shopping lists for kids.
“Scratch & Win tickets can make great stocking stuffers for the adults in your life, but they’re not for kids,” said Ryan McCarthy, BCLC’s Director of Player Health. “The research shows that children who have early encounters with gambling are four times more likely to develop riskier gambling behaviour as they grow up. While people are out shopping for those last-minute gifts, BCLC wants adults to be aware of the potential risks associated with gifting lottery products to children and to consider safer alternatives.”
While Scratch & Win tickets are among the most common ways kids can be introduced to gambling, children are increasingly exposed to various online forms, such as gambling streams.
“With the convergence of gaming and gambling, youth are becoming more exposed to gambling content in online spaces like streaming sites, where creators are able to live-stream their own gambling, usually while playing online slots and instant games,” said Dr. Luke Clark, Director for Gambling Research at UBC. “Our research at the UBC Centre for Gambling shows that a higher frequency of watching online gambling streams is associated with a more positive attitude towards gambling and a high intention to gamble in the future.”
In B.C., it is illegal to sell lottery products to anyone under the age of 19 and BCLC encourages adults to have conversations with the kids in their lives about the risks associated with gambling.
“Open and honest conversations are crucial when it comes to navigating childhood exposure to gambling,” said McCarthy, who shared the following tips to adults:
- Monitor for gambling-related lifestyle changes. For example, developing a positive attitude towards gambling or a preoccupation with video games or streaming sites.
- Be a positive role model. Exhibit safer gambling behaviour and talk about the risks.
- Limit exposure. Monitor kids’ online activities and discourage engagement with gambling content. Explain how gambling is based on chance.
Jackpot Digital Inc., a leading provider of innovative dealerless electronic poker gaming solutions, has announced that the Alcohol and Gaming Commission of Ontario (AGCO) has approved the Company to be licensed as a registered Gaming Related-Supplier (the “Supplier License”) under the Gaming Control Act in the Province of Ontario.
This significant achievement allows Jackpot Digital to enter one of the most dynamic and rapidly growing regulated gaming markets in North America. The Supplier License authorizes Jackpot Digital to supply its electronic table games to Ontario’s gaming venues, including casinos and other regulated gaming facilities.
Jackpot Digital’s flagship product, the Jackpot Blitz electronic table game system, offers a modern, dealerless, player-friendly solution that integrates traditional multiplayer poker games with cutting-edge digital technology. The Supplier License will enable the Company to offer its innovative gaming solutions to operators throughout Ontario, driving new revenue opportunities and enhancing player experiences.
“Receiving AGCO’s approval is a major milestone. This approval provides us with the opportunity to offer our top-tier electronic gaming systems to operators throughout all of Ontario, positioning us for further growth in one of the world’s most robust gaming markets. We are excited to bring our innovative products to Ontario’s gaming community and continue our commitment to providing exciting, technology-driven entertainment experiences,” said Jake Kalpakian, CEO of Jackpot Digital.
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