Canada
PlayColorado.com: Sports betting grows in June, setting up July surge
Colorado sportsbooks again capitalized on interest in nontraditional sports to produce modest gains in June, but the uptick will likely pale in comparison to an expected July surge powered by the return of major North American sports, according to PlayColorado.
“Considering Colorado’s online sportsbooks launched in the middle of a pandemic that had all but shut down major sports, the first two months of sports betting have surpassed expectations,” said Dustin Gouker, lead analyst for PlayColorado.com. “That quick start should have Colorado’s online sportsbooks well-prepared for a much higher level of engagement, which is already happening.”
In Colorado’s second full month of legal online sports betting, online sportsbooks generated $38.1 million in wagers, up 49% from $25.6 million in bets in May, according to official reporting released Tuesday. That resulted in $34.7 million in payouts, a 50% uptick from $23.1 million in May.
In all, June produced operator revenue of $2.2 million, up from $946,741 in May. That yielded $217,023 in state taxes.
With Major League Baseball in play, the NBA close to its Orlando restart, the NHL set to drop the puck in early August, and the NFL season looming, the sports-betting environment should change drastically in the coming weeks.
Futures bets, particularly on baseball and the NBA, have been brisk in July, according to PlayColorado sources. And in Colorado, local betting interest — on the Rockies, Nuggets, and Avalanche — should only help drive championship wagering in the days ahead.
“Colorado is home to two legitimate championship contenders in the Denver Nuggets and Colorado Avalanche, and that will almost certainly draw significant action,” Gouker said. “In this environment, things can change quickly. But pent-up demand, the start of the Colorado Rockies season, and the restart of basketball should push July to something more closely resembling a normal month.”
Since online sportsbooks launched May 1, Colorado’s sports bettors have been getting by on less conventional sports. Table tennis again drew the most wagers with $9.1 million in June, accounting for one-quarter of the state’s handle for the month and resulting in $8.6 million payouts. In May, table tennis drew $6.6 million in bets.
In addition, bettors had been limited to online sportsbooks. While the majority of all bets will continue to be made online, the slow opening of retail sportsbooks across the state will offer new areas of engagement.
“Sportsbooks have been creative in engaging bettors, and that will help when major U.S. sports restart,” Gouker said. “Retail sports betting sites will help, too. July and August should be exciting months for the industry.”
For more information and analysis on regulated sports betting in Colorado, visit PlayColorado.com/news.
ComeOn Group announced a significant milestone in its sportsbook expansion journey with the addition of sportsbook to their offering in Ontario following the successful acquisition of the required permits. This addition represents a strategic advancement in the Groups sportsbook growth trajectory where they are set to double its sportsbook business in the coming years.
ComeOn Group is one of 51 active operators in Ontario. The Ontario market has experienced robust growth since its launch, reaching C$6.7 billion in revenue in 2023.* By 2029, the market is forecasted to grow by a total of 29%, with 2024 expected to close with a 20% increase.
ComeOn keeps investing in its sportsbook business acceleration that is powered by its proprietary sportsbook platform and in-house risk management and trading team. As a multi product vertical operator, ComeOn is striving to give its customer base a safe and exciting entertainment destination and this approach is now expanded to their Ontario audience.
Juergen Reutter, Chief Executive Officer at ComeOn Group, said: “We are very excited about the opportunities this new milestone opens up for us. As a casino-led operator it represents a key part of our sportsbook strategy to double our business in the coming years. Like in any of our other markets, we are striving for a differentiated sportsbook entertainment experience that is powered by our in-house technology. Our goal is to deliver top-tier entertainment to our players while fostering safe and innovative gaming experiences.”
*Source – H2GC H2 Ontario Data 25.10.2024 (excl. Lottery)
BCLC
INTRALOT Announces New Project with the British Columbia Lottery Corporation for Online Lottery Platform
INTRALOT S.A. has announced the undertaking of a new project between the British Columbia Lottery Corporation (BCLC), the sole lottery operator for the Government of British Columbia in Canada, and INTRALOT Inc., its US subsidiary, for the provision of an online lottery platform. The project also includes the digitalization of the existing land-based network.
The solution will be based on the Player X platform, part of the Lotos X ecosystem, and adds to the company’s overall partnership with BCLC, which has been extended until 2028.
INTRALOT is a leading player in a changing world of gaming. With significant experience in looking forward and anticipating emerging trends, the company provides future-proof solutions to regulated lottery and gaming operators around the world.
Relax Gaming, the iGaming aggregator and supplier of unique content, has significantly enhanced its presence in the Ontario market through an agreement with leading Canadian operator, PointsBet.
This partnership reinforces Relax Gaming’s aim to become a standout provider across North America, having already gained early success in Ontario. Relax became one of the first suppliers to deliver content to the region’s players in March 2022, debuting with over 120 games across multiple operators.
PointsBet pride themselves as one of Canada’s leading operators offering unmatched speed, ease of use, and a comprehensive array of pre-game and in-play sports betting options. This is complemented by a top-tier online casino which will now be boosted with the integration of Relax’s portfolio of slots and live dealer options.
With its authentic Canadian approach, PointsBet prioritises technology that minimises external dependencies to maintain control over its platform and has a commitment to responsible gambling best practices, ensuring a safe and secure environment for all players.
Martin Stålros, CEO at Relax Gaming, said: “Since we launched in Ontario we have enjoyed tremendous success, with our content hitting the sweet spot for the broad range of players in the Canadian province. This partnership with PointsBet will strengthen our presence in the market as the region’s leading operator integrates our rich content portfolio which will engage its player base.”
Scott Vanderwel, Chief Executive Officer at PointsBet, added: “Relax Gaming has established a strong reputation across North America and in Ontario in particular. The impressive range of content that will be integrated into our platform will increase engagement within our online platform and we are delighted to be able to provide more immersive experiences to our audiences.”
Established as one of the industry’s leading B2B suppliers, Relax Gaming was awarded GGA’s Product Launch of the Year in February 2023 for Dream Drop Jackpots. Money Train 3 names the 2023 CasinoBeats Game Developer Awards amongst its 6 Slot of the Year titles, while the brand also won the award for Skill Games Supplier at the 2023 EGR B2B Awards along with the Innovation in Mobile award at the 2023 SBC Awards.
Relax Gaming provides more than 4,000 online casino games, from its high-performing proprietary slots to a significant, varied library of content from hand-picked third-party studios via its partnership programmes.
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