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White paper by PlayNY.com explores the nuances of New York’s sports betting market

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New York has lost out on millions in revenue since retail betting launched in July 2019, but the legislative push to add online sports betting could make New York the largest U.S. sports betting market if properly structured, according to a white paper authored by PlayNY, a leading source for news and analysis of the fledgling New York gaming market.

Authored by PlayNY analysts Eric Ramsey, Dustin Gouker, and Matthew Kredell, “The State of New York Sports Betting: An Examination of the Forces Shaping the Market,” explores the nuances of the New York market including:

  • How New York has underperformed with only in-person sports wagering.
  • The proposed legalization efforts in the state from the legislature and the governor’s office.
  • The legal issues at play as New York contemplates legalization.
  • The opportunity in terms of revenue and total betting activity.
  • Who the major players are likely to be in a legal online sports betting market.
  • What other states have done with sports betting legalization.

“New York is a complex market, but one that the entire U.S. gaming industry is watching intently,” said Ramsey, who co-authored the report for PlayNY.com. “There are so many factors at play in the charge to regulate online sports betting, including Gov. Andrew Cuomo’s political fate.”

The debate on whether to legalize online sports betting and how to structure the regulations around it remains ongoing, with a resolution, at least for this year, possible this spring. But much could change before that happens. For one, two major factions have developed in the debate of how to structure online gambling. One, supporting an open market that would invite multiple private operators to compete in the state, a movement led by Assemblymember J. Gary Pretlow and Sen. Joseph Addabbo Jr. The other, a state monopoly model with which New York captures the lion’s share of revenue by contracting with a single sportsbook operator, a move championed by Gov. Cuomo.

According to research by the PlayNY white paper authors, an open market could draw $37 billion in bets, more than $2.5 billion in operator revenue, and more than $300 million in tax revenue over the first four years after launching online sports betting. A closed market could draw $7.5 billion in bets, $750 million in revenue, but $375 million in revenue for the state.

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“The bottom line is we believe an open market will offer broader benefits for the state and its residents,” said Gouker, another co-author. “But a closed market should produce more revenue for the state, and that is tempting for policymakers.”

For more on the New York sports betting market or to download the executive summary and full white paper, visit PlayNY.com.

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Bally Bet Sportsbook & Casino app

Bally’s Interactive Launches the New Bally Bet Sportsbook & Casino App in Ontario

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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.

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BCLC

Be #GiftSmart: Scratch the Idea of Gifting Scratch & Win Tickets to Kids

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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.

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“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.
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AGCO

Jackpot Digital Receives Approval from AGCO as a Registered Gaming Supplier

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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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