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MICHIGAN SPORTSBOOKS’ HANDLE RISES TO NEARLY $260 MILLION IN JUNE Online sports and casino betting falls in June, but revenue from sports betting makes a significant jump, according to PlayMichigan

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Michigan’s online and retail sports betting volume rose slightly in June but remained relatively low as sportsbooks continued to slog their way through the summer slowdown. But with the first significant jump in taxable revenue and an online casino industry that remains a reliable revenue generator, the industry has much to look forward to when summer turns to fall, according to PlayMichigan, which analyzes and researches the state’s regulated online gaming and sports betting market.

“Michigan’s sportsbooks grew so quickly from January through March that the slowdown that has followed might feel more dramatic than the reality,” said Jessica Welman, analyst for the PlayUSA.com Network, which includes PlayMichigan.com. “Sportsbooks remain in excellent position for a ramp up when football season approaches. Until then, they will have to rely on opportunities such as the Olympics and the NBA Finals to stoke interest.”  

Michigan’s online sportsbooks accepted $235.1 million in wagers over the 30 days of June, down 1.0% from $237.6 million over the 31 days of May, according to official data released Monday by the Michigan Gaming Control Board. With $24.4 million in retail handle, announced earlier this week, Michigan’s online and retail sportsbooks took in a combined $259.4 million in bets. That total is up 0.7% from $257.7 million in bets in May.

April, May, and June are typically three of the slowest sports betting months of the year, but no major U.S. sports jurisdiction has experienced a steeper decline from March’s highs as has Michigan. June’s combined handle is off 32.4% from the record $383.7 million combined handle in March. By comparison, Indiana’s sports betting volume dropped 22.2% from March to June, and Iowa is down 31.1%.

More importantly, though, gross gaming revenue at online sportsbooks rose 28.2% to $24.9 million in June from a $19.5 million total in May. And June’s online sports betting hold of 10.6% for operators was their best for any full month in Michigan. After promotional credits, online sportsbooks produced $16.8 million in taxable revenue, up from $9.9 million. That yielded $1.4 million in state and local taxes from online betting.

“We’ve been waiting for a bump in taxable revenue that led to a real increase in tax revenue, which we finally got in June,” said Matt Schoch, analyst for PlayMichigan.com. “If there has been a disappointment with Michigan’s launch, it’s that tax revenue gains have lagged. So hopefully, this will continue into the fall, when we know revenue from sports betting will make a big leap forward.”

FanDuel topped the online market in June with a $77.3 million handle, up from $71.2 million in May. That led to a market-best $10.3 million in gross sports betting revenue, up from $9.3 million. June’s action produced $8.1 million in taxable revenue.  

DraftKings trailed with $56.5 million in wagers, down from $66.7 million in May. Gross gaming revenue rose to $5.0 million from $1.9 million in May. BetMGM followed closely with $52.1 million in wagers, up from $51.6 million in May. That produced $6.1 million in gross receipts and $4.2 million in taxable revenue.

The online market leaders were followed by:

  • Barstool ($16.7 million handle, down from $18.1 million in May; $1.8 million gross revenue, up from $1.1 million)
  • PointsBet ($10.2 million handle, down from $11.4 million; $911,170 GGR, down from $1 million)
  • William Hill ($7.9 million handle, up from $6.2 million; $598,641 GGR, down from $217,050)
  • WynnBet ($5.5 million handle, up from $1.4 million; -$383,777 GGR, down from $168,874)
  • Fox Bet ($3.7 million handle, down from $5.1 million; $332,639 GGR, down from $338,049)
  • BetRivers ($2.5 million handle, down from $2.8 million; $332,639 GGR, up from $76,004)
  • Twin Spires($1.3 million handle, down from $1.5 million; $143,197 GGR, up from $95,645)
  • Golden Nugget ($914,393 handle, down from $923,269; $83,855 GGR, up from $10,750)
  • Four Winds Sportsbook ($607,100 handle, up from $545,937; -$18,782 GGR, up from -$20,000)

FireKeepers reported $656 in handle and $299 GGR from a soft launch in June. The platform was released widely in July.

“FanDuel really opened up a significant market share lead, which will be difficult for any rival to overcome,” Schoch said. “WynnBet is taking on an aggressive marketing strategy, including a deal with the Detroit Lions announced last week. This could spark other smaller operators to take a more aggressive posture, too, which would ultimately be good for bettors.”

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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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Alon Segev

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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