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Canada
With the return of major sports, Colorado is beginning to show its market potential
With the return of major sports, Colorado is beginning to show its market potential as nation’s fifth-largest, according to PlayColorado analysts
(LAS VEGAS) — Colorado’s sportsbooks got an injection of life with the return of baseball and the NBA in July, nearly attracting as much in wagers as the industry’s first two months combined and firmly establishing itself as a Top 5 U.S. market. And with new operators coming online and a packed August sports schedule, the Centennial State’s sports betting industry is beginning to realize its potential, according to PlayColorado analysts.
“It only took a few days of basketball and baseball games in July to show the demand that is out there in Colorado for sports betting,” said Dustin Gouker, lead analyst for PlayColorado. “In just three months, Colorado has established itself as the fifth-largest sports betting market in the U.S, and the number of sportsbook operators in the state is growing rapidly. And with a robust August schedule that includes playoff runs by the Denver Nuggets and Colorado Avalanche, the short-term outlook for the state is excellent.”
Online and retail sportsbooks combined to generate $59.2 million in wagers, up 55.2% from $38.1 million in June, according to official reporting released Wednesday. July’s handle resulted in $2.4 million in net betting proceeds — up 11.4% from $2.2 million in June — producing $241,867 in state taxes. Limited to online betting on fringe sports through June, Colorado’s sportsbooks had combined to take in $63.8 million in wagers, yielding $3.1 million in net proceeds, during the industry’s first two months.
Colorado’s July handle was the fifth largest among legal U.S. jurisdictions, closely trailing No. 4 Indiana, which generated $70.9 million in July.
Table tennis had generated $15.7 million in bets in the first two months, by far the favorite sport among bettors in the state. That changed in July when baseball attracted $9.2 million in bets and soccer took in another $7.6 million. With just a few days of NBA games, basketball attracted $3.2 million in bets. Meanwhile, interest in table tennis waned, yet still yielded $5.1 million in wagers.
The addition of hockey in August, and the looming NFL season, only adds to the sudden bounty of sports.
“The success of the sports betting industry in keeping bettors engaged with fringe sports like table tennis cannot be understated, but there isn’t any substitute for football, basketball, baseball, and hockey,” Gouker said. “As robust as August looks right now, though, the future remains tenuous. College football will likely not be played this fall in Colorado, though perhaps elsewhere in the U.S. And the NFL is still working out its plans. So while the news is good, sports betting is still at the mercy of the pandemic.”
Even with the opening of Colorado’s first retail sportsbooks, online sports betting accounted for $58.6 million, or 99%, of the state’s July handle. Regardless, it appears sports bettors will have a growing array of choices to place bets. Circa Sports, DraftKings’ retail sportsbook, BetWildwood, Ameristar’s retail sportsbook, and William Hill’s retail sportsbook all opened in July. ELITE Sportsbook launched online and in the Red Dolly Casino on Aug. 12, and PointsBet will launch soon with deals already in place with the Nuggets and Avalanche.
“Reasonable operator fees, a relatively large population base, an abundance of sports fans, and a generally operator-friendly regulatory framework have all made the Colorado market attractive in the eyes of major U.S. and European operators,” Gouker said. “And unlike a state like New Jersey that already had a mature gaming industry when sportsbooks first launched, Colorado is a relatively open market. In many ways, it’s ideal for operators of all kinds to enter.”
For more information and analysis on regulated sports betting in Colorado, visit PlayColorado.com/news.
Canada
Greo and CCSA Release New Report Named “Gambling Availability and Advertising in Canada: A Call to Action”
Recent gambling policy changes in Canada have led to increased opportunities to legally bet on sports and gamble online, 24 hours a day, seven days a week. The report “Gambling Availability and Advertising in Canada: A Call to Action” looks at the impacts of legal gambling in Canada since the approval of the Safe and Regulated Sports Betting Act in 2021. The report recommends developing a pan-Canadian strategy to address gambling-related harms. This is a new report by Greo Evidence Insights (Greo) and the Canadian Centre on Substance Use and Addiction (CCSA).
This call to action is in response to the significant increase in gambling advertising on billboards, social media, at commercial breaks during sports broadcasts and during sporting events. Increased gambling availability and advertising are expected to contribute to increased gambling in Canada, thereby posing a significant risk of harms among the general population, particularly for youth, young adults and other vulnerable populations.
The report also describes how the increased availability of gambling and in gambling advertising are of great concern because:
- The types of gambling being made available and promoted (single-event sports betting and live or in-play betting) are associated with a greater risk of harm. For example, single-event sports betting increases gambling intensity and gives an illusion of control over the outcome as people believe their knowledge of the game gives them a competitive edge.
- The volume of gambling advertisements repeatedly pairing sports with betting normalizes gambling, leading people to think of betting as an integral part of being a sports fan.
- Increased availability of gambling and in gambling advertising are happening at a time when many people in Canada are more vulnerable to problematic gambling and gambling-related harms because of the lingering health impacts of COVID-19 and a rise in the cost of living.
“Over the last few years, we have witnessed some of the most significant changes in gambling policy since the 1970s. We have seen a massive increase in gambling advertising and opportunities to gamble. We can no longer watch sports with our kids or go online without being subjected to an overwhelming amount of gambling advertising. Canada is at a critical moment in how it manages gambling. A national strategy or framework — similar to what we have for alcohol, tobacco and cannabis — is critical to manage the expected increase in gambling harm, especially among youth and other vulnerable people,” explained Dr. Matthew Young, Chief Research Officer at Greo, Senior Research Associate at the CCSA and Adjunct Professor at Carleton University.
The report recommends developing a national strategy that will:
- Develop national standards governing the promotion and availability of gambling;
- Manage conflicts of interest among gambling stakeholders;
- Address inadequate funding for gambling harm prevention and reduction initiatives and research;
- Monitor systematic changes in gambling-related harm, including any assessments of the social and economic costs of gambling; and
- Increase awareness of gambling-related harms among health and social service professionals and the public.
“Increased gambling among people living in Canada will undoubtebly result in increased harms and therefore increased societal costs. These include healthcare costs, criminal-justice costs, child welfare costs, increased unemployment and lost productivity costs because of gambling-related suicide. We need to think about our approach and ensure that it considers not only short-term government revenue and economic activity but also the longer-term societal costs. That’s why we need a national strategy,” Dr. Pam Kent, Director of Research and Emerging Trends at CCSA, said.
Canada
Call for a National Strategy to Address Gambling-Related Harms in Wake of Sports Betting Boom
![call-for-a-national-strategy-to-address-gambling-related-harms-in-wake-of-sports-betting-boom](https://igamingradio.com/wp-content/uploads/2024/07/132821-call-for-a-national-strategy-to-address-gambling-related-harms-in-wake-of-sports-betting-boom.png)
Recent gambling policy changes in Canada have led to increased opportunities to legally bet on sports and gamble online, 24 hours a day, seven days a week. Released today, Gambling Availability and Advertising in Canada: A Call to Action looks at the impacts of legal gambling in Canada since the approval of the Safe and Regulated Sports Betting Act in 2021. The report recommends developing a pan-Canadian strategy to address gambling-related harms. This is a new report by Greo Evidence Insights (Greo) and the Canadian Centre on Substance Use and Addiction (CCSA).
This call to action is in response to the significant increase in gambling advertising on billboards, social media, at commercial breaks during sports broadcasts and during sporting events. Increased gambling availability and advertising are expected to contribute to increased gambling in Canada, thereby posing a significant risk of harms among the general population, particularly for youth, young adults and other vulnerable populations.
The report also describes how the increased availability of gambling and in gambling advertising are of great concern because:
- The types of gambling being made available and promoted (single-event sports betting and live or in-play betting) are associated with a greater risk of harm. For example, single-event sports betting increases gambling intensity and gives an illusion of control over the outcome as people believe their knowledge of the game gives them a competitive edge.
- The volume of gambling advertisements repeatedly pairing sports with betting normalizes gambling, leading people to think of betting as an integral part of being a sports fan.
- Increased availability of gambling and in gambling advertising are happening at a time when many people in Canada are more vulnerable to problematic gambling and gambling-related harms because of the lingering health impacts of COVID-19 and a rise in the cost of living.
“Over the last few years, we have witnessed some of the most significant changes in gambling policy since the 1970s,” explained Dr. Matthew Young, Chief Research Officer at Greo, Senior Research Associate at the CCSA and Adjunct Professor at Carleton University. “We have seen a massive increase in gambling advertising and opportunities to gamble. We can no longer watch sports with our kids or go online without being subjected to an overwhelming amount of gambling advertising. Canada is at a critical moment in how it manages gambling. A national strategy or framework — similar to what we have for alcohol, tobacco and cannabis — is critical to manage the expected increased in gambling harm, especially among youth and other vulnerable people.”
The report recommends developing a national strategy that will:
- Develop national standards governing the promotion and availability of gambling;
- Manage conflicts of interest among gambling stakeholders;
- Address inadequate funding for gambling harm prevention and reduction initiatives and research;
- Monitor systematic changes in gambling-related harm, including any assessments of the social and economic costs of gambling; and
- Increase awareness of gambling-related harms among health and social service professionals and the public.
“Increased gambling among people living in Canada will undoubtebly result in increased harms and therefore increased societal costs. These include healthcare costs, criminal-justice costs, child welfare costs, increased unemployment and lost productivity costs because of gambling-related suicide,” says Dr. Pam Kent, Director of Research and Emerging Trends at CCSA. “We need to think about our approach and ensure that it considers not only short-term government revenue and economic activity but also the longer-term societal costs. That’s why we need a national strategy.”
AGCO
Edict Egaming Secures Approval for Ontario Licence
![edict-egaming-secures-approval-for-ontario-licence](https://igamingradio.com/wp-content/uploads/2024/07/132773-edict-egaming-secures-approval-for-ontario-licence.jpg)
Edict egaming has received approval from the Alcohol and Gaming Commission of Ontario (AGCO) to provide its games for the online casino market in the Canadian province. This applies to both the German edict egaming GmbH and Edict Malta Limited. From now on, the Merkur Group subsidiary will be able to offer its popular Merkur slots in one of the largest North American markets.
“We are delighted to have received AGCO approval for our Merkur games in Ontario. This is definitely a big step for edict and we are very excited to showcase ourselves to new audiences on the global stage in this dynamic market,” Dominic-Daniel Liénard, CEO of edict egaming GmbH, said.
The AGCO is working with the Government of Ontario and iGaming Ontario (iGO) to establish a new online gaming market that helps protect consumers gambling through private gaming companies. This license certifies that edict operates within the framework of strict laws and meets the requirements for responsible gaming.
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