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MICHIGAN’S ONLINE SPORTS BETTING VOLUME SLUMPS TO LOWEST LEVEL SINCE LAUNCH

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Michigan’s online sportsbooks fell to their lowest volume ever for a full month, dropping to less than $200 million for the first time since online sports betting launched in January. July’s wagering was still enough for sportsbooks to nearly reach $2 billion in lifetime online handle, while casino revenue ticked up and surpassed $500 million lifetime, according to PlayMichigan, which analyzes and researches the state’s regulated online gaming and sports betting market.

“Pursuits other than gaming are priorities for many in July, whether that is a trip to the lake or a backyard barbecue,” said Matt Schoch, analyst for PlayMichigan.com. “The good news for sportsbooks is that with the July dip now out of the way, operators can look forward to Michiganders returning from their summer vacations and for the excitement for the football season to build.”

Michigan’s online sportsbooks generated $188.0 million in bets in July, down 20% from $235.1 million in June, according to official data released Monday by the Michigan Gaming Control Board. Combined with $18.3 million in retail wagering in July, which was announced last week, Michigan’s online and retail sportsbooks accounted for $206.3 million in wagering. That total is down 20.5% from $259.4 million in bets in June.

That is the lowest volume recorded in a month since sportsbooks collected $150.8 million in January, when online betting first launched on Jan. 22. Still, Michigan’s online and retail sportsbooks have now accepted $1.99 billion in wagers since retail sportsbooks launched in March 2020.

Gross gaming revenue from online betting fell 21.6% to $19.6 million from $24.9 million in June, pushing the state’s combined win to $20.8 million for the month. After promotional credits, $12.4 million in taxable revenue remained from online bets, down from $16.8 million in June. July’s online revenue produced $1.1 million in state and local taxes.

Volume has remained low since April, part of an expected seasonal slowdown. But sportsbooks have countered the loss in wagering with a gain in hold percentage, which is the money the house keeps after paying out winning bets. The hold in July for online and retail sportsbooks was 10.1%, joining June as the only two full months with a percentage above 10% since online betting launched in Michigan in January.

“Bettors interact with summer sports like golf and even the Olympics differently by placing more futures and novelty bets, which win less frequently than a conventional single-game bet on football,” said Eric Ramsey, data analyst for the PlayUSA.com Network, which includes PlayMichigan.com. “For this reason, sportsbooks can bridge the slower betting months.”

The race for the online market lead drew closer in July. FanDuel led all online operators in July with $54.5 million in wagers, down from $77.3 million in June. FanDuel also topped Michigan operators with $7.8 million in gross sports betting revenue, down from $10.3 million in June.

DraftKings was second in the state with $53.4 million in wagers, down from $56.5 million in June. Gross gaming revenue fell to $3.1 million from $5.0 million in June. BetMGM was third with $41.0 million in wagers, down from $52.1 million in June. That produced $5.0 million in gross receipts, down from $6.1 million in June.

The online market leaders were followed by:

  • Barstool ($13.6 million handle, down from $16.7 million in July; $1.4 million gross revenue, down from $1.8 million)
  • PointsBet ($7.8 million handle, down from $10.2 million; $849,524 GGR, down from $911,170)
  • William Hill/Caesars ($7.5 million handle, down from $7.9 million; $252,708 GGR, down from $598,641)
  • Fox Bet ($2.7 million handle, down from $3.7 million; $252,873 GGR, down from $332,639)
  • BetRivers ($2.6 million handle, up from $2.4 million; $224,089 GGR, up from $107,480)
  • WynnBet ($2.3 million handle, down from $5.5 million; $357,718 GGR, up from -$383,777)
  • TwinSpires ($1.0 million handle, down from $1.3 million; $138,911 GGR, down from $143,197)
  • Golden Nugget ($623,977 handle, down from $914,393; $98,615 GGR, up from $83,855)
  • FireKeepers ($367,354 handle, up from $656; $44,048 GGR, up from $299)
  • Four Winds ($318,987 handle, down from $607,100; $35,979 GGR, up from -$18,782)

“The Olympics were never going to drive enough volume for operators to overcome a typically slow summer month, especially with the time-zone difference between Michigan and Tokyo,” Schoch said. “But the Olympics did offer an opportunity for sportsbooks to reach a new segment of customers that they wouldn’t have otherwise. That could pay dividends down the road.”

 

Online casinos and poker

Michigan’s online casinos and poker rooms combined to produce $92.3 million in gross gaming revenue, up 3.5% from $89.2 million in June. Casinos took in $3.0 million per day in wagers over the 31 days of July, a rate consistent with the $3.0 million per day in June. That revenue was enough to yield $17.1 million in state taxes and $6.4 million in local taxes.

Live dealer online casino games launched July 22 in Michigan, likely driving additional wagering later in the month. Since launching in January, online casinos and poker rooms have generated $575.4 million in revenue and $141.8 million in state and local taxes.

“Many of the same forces that slow sports betting in the summer, including summer vacations, also affect online casinos,” Ramsey said. “Michigan is still a young market that hasn’t yet reached maturity. The addition of live dealer games will make a difference going forward. And as the summer turns to fall, we should once again see the revenue at online casinos grow.”

 

Other highlights from July:

  • BetMGM/MGM Grand Detroit continued to dominate the online casino and poker market with $33.8 million in gross gaming revenue, which yielded $8.9 million in state and local taxes.
  • DraftKings/Bay Mills was second in the state with $15.2 million in gross receipts, producing $3.8 million in state and local taxes. FanDuel/Motor City was third with $14.4 million in gross receipts and $3.8 million in state and local taxes.

For more information and analysis on regulated sports betting in Michigan, visit PlayMichigan.com/news

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AGCO Removes Cap on Seller Commission for Charitable Lottery Products

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The Alcohol and Gaming Commission of Ontario (AGCO) has updated several lottery policies to remove the cap on seller commission for Paper Raffles and Media Bingo, along with removing the prohibition on Catch the Ace paper lotteries, to align with other charitable lottery products.

Licensed charities may now negotiate commissions directly with sellers and determine commissions, provided they are reasonable and tied to the cost of service provided by the seller.

These updates further the AGCO’s commitment to adopt an outcomes-based regulatory approach and reduce burden for the charitable gaming sector. Local charitable organizations will have greater flexibility to make decisions that best serve their fundraising objectives.

Important Reminders

• Charities must still receive approval for other expenses incurred under their licence and retain receipts for seller commission paid.

• Licensing authorities will not require documentation to be submitted as part of the application process, however, charities are still subject to audit to determine compliance.

• Charities are reminded of their legal requirement to meet their obligations under the Criminal Code and with respect to conducting and managing a charitable gaming scheme.

• As with all licensed charitable lottery events, charities must take the necessary steps to ensure that they are conducting and managing the lottery event within Ontario.

For charitable gaming-related inquiries, email an AGCO Eligibility Officer at [email protected] or call AGCO Customer Service at 1-800-522-2876, Monday to Friday from 8:30 a.m. to 5 p.m.

The post AGCO Removes Cap on Seller Commission for Charitable Lottery Products appeared first on Gaming and Gambling Industry in the Americas.

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Segev LLP Celebrates 10 Years of Business-Focused Legal Innovation

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Leading business, technology, finance, and gaming law firm, Segev LLP, is proud to announce its 10th anniversary. Over the past decade, Segev has evolved from a bold idea into a multi-jurisdictional firm serving clients across Canada, the U.S., and beyond.

Built for innovation-driven industries, the firm is widely recognized for its work with companies at the forefront of gaming, crypto, technology, and emerging sectors. “Our 10-year anniversary is a defining moment,” said Founding Partner, Ron Segev. “It’s a testament to the strength of our team and our culture of teamwork, self-improvement, and growthall of which is directed at scoring wins for our great clients.”

As industries like fintech, crypto, iGaming, and AI have matured, so has the firm, often in parallel with its clients. “We’ve all grown together with our clients from one success to the next, whether it be helping clients complete financings or helping them close business,” said Managing Partner Alon Segev. “I look forward to continued growth for us and our clients in the next 10 years!”

The firm’s client-first approach has consistently earned recognition from top legal ranking guides. Segev LLP is ranked by Chambers and Partners as a “Leading Firm” and “Band-1” in Canada for Gaming Law and are also recommended by The Legal 500 and Lexology. These rankings reflect the team’s ability to deliver strategic, high-quality legal solutions that align with their clients’ business goals.

Recognized for their unique ability to exceed expectations and deliver out-of-the-box solutions, Segev LLP’s clients have affirmed: “The firm demonstrates its capability not only to understand complex matters, but also to offer solutions that are practical, pragmatic, and value-adding.”

“Segev possesses outstanding resources and maintains global partnerships, enabling it to deliver precise and informed responses to any queries related to the iGaming industry.”

“Epic service, very good, I won the case!”

“Great service, friendly atmosphere, and support.”

Several Segev team members also reflected on the milestone: “There was a moment early in my time here when I realized I wasn’t just being brought in to help; I was expected to contribute, take initiative, and run with big ideas. That stuck with me,” said Negin Alavi.

“Together with our clients, [Segev] has experienced remarkable growth over the past decade. I’m honored to have contributed to this journey and to celebrate these shared successes,” said David McHugh.

Segev has cultivated a thriving law practice on the principle that challenges are to be embraced as opportunities. The approach has enabled us to grow as lawyers, but more importantly, it has enabled us to ensure the success of our clients,” said Mark Balestra.

“Since joining through Segev’s Ontario expansion, I’ve had the chance to work alongside some of the sharpest and most collaborative lawyers in the gaming space,” added Manav Bhargava. “As a full-service firm and industry leader, Segev stands out for its ability to support innovative businesses with practical, forward-thinking legal advice.”

Segev LLP will commemorate the anniversary with a series of internal and external initiatives throughout the remainder of the year.

The post Segev LLP Celebrates 10 Years of Business-Focused Legal Innovation appeared first on Gaming and Gambling Industry in the Americas.

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INCENTIVE GAMES SECURES ONTARIO GAMING LICENSE

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Incentive Games, a leading B2B games provider, is proud to announce that it has been awarded an Ontario Gaming License by the Alcohol and Gaming Commission of Ontario (AGCO), effective today. This achievement enables the company to offer its portfolio of real-money games to licensed operators and players across the province.

The license underscores the Incentive Games’ commitment to meeting the highest standards of compliance, security, and operational excellence. The rigorous application process demands robust security protocols and comprehensive responsible gaming measures and affirms the company’s readiness to enter one of Canada’s most dynamic iGaming markets.

The North American market is a strategic focus for Incentive Games, and this milestone follows closely on the heels of the company receiving its Provisional Michigan gaming licence from the Michigan Gaming Control Board earlier this month.

Incentive Games will distribute its real-money gaming content in Ontario through Incentive Studios, the company’s dedicated Real-Money Gaming division, ensuring a focused and tailored approach to the market.

“Ontario represents a huge opportunity for us, and securing this license is a proud moment for the whole team,” said John Gordon, Chief Executive Officer at Incentive Games. “It reinforces our dedication to meeting the highest standards while delivering compelling real-money content. We’re looking forward to building strong relationships in the region and continuing our momentum across regulated markets worldwide.”

The post INCENTIVE GAMES SECURES ONTARIO GAMING LICENSE appeared first on Gaming and Gambling Industry in the Americas.

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