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PlayIllinois.com: Sports betting hits 10-month low in July

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The volume of sports betting in Illinois further slowed in July, slumping to the lowest level in the state since September 2020 with $369 million in online and retail wagering. July typically marks the end of the seasonal slowdown that affects every major U.S. sports betting market, but in-person registration requirements in Illinois could dampen the football-fueled ramp up that other states will enjoy, according to PlayIllinois, which tracks the state’s regulated online gaming and sports betting market.

“Illinois sportsbooks will not be able to take full advantage of the customer acquisition phase that comes with the beginning of every football season, which is vital for the growth of the industry,” said Joe Boozell, lead analyst for PlayIllinois.com. “Because in-person registration was reinstated in April at the beginning of the slow season in sports betting, the industry has skirted the most severe effects of the state rule. But there will be no hiding from it during football season.”

Bettors made $369.1 million in wagers at Illinois’ retail and online sportsbooks in July, down 22.5% from $476.5 million in June, according to official data released Thursday. The day-by-day pace of betting fell to $11.9 million over the 31 days of July from $15.9 million over the 30 days of June.

Year over year, handle was up 603% from $52.5 million in July 2020, a month that marked the relaunch of sports betting in the state after the pandemic-related shutdown of major U.S. sports. July is typically the slowest betting month of the year in the U.S., marking the low point in U.S. betting in 2018, 2019, and now in 2021. Despite the slowdown, Illinois remained No. 3 in July in terms of betting volume, surpassed only by New Jersey ($578.7 million) and Nevada ($409.9 million).

Accordingly, gross gaming revenue fell 22.6% to $37.3 million from $48.2 million in June. That produced $37.6 million in adjusted gross revenue, yielding $6.1 million in state and local taxes. At 10.1%, the market’s hold, which is the percentage sportsbooks keep after paying out winning bets, remains relatively high.

“July features fewer prime betting opportunities and casual bettors are more occupied with vacations and other activities, and there isn’t much sportsbooks can do about that,” said Eric Ramsey, analyst for the PlayUSA.com network, which includes PlayIllinois.com. “Illinois sportsbooks have done well by increasing their hold over the summer months, which puts operators in a good position as casual bettors return.”

Baseball was the most bet-on sport for the first time this year, drawing $124.0 million of action in July. That was down from $126.7 million in June, even with the excitement over the success of the Chicago White Sox. The NBA Finals fueled $42.5 million in basketball betting, down from $126.9 million in June. Parlay betting ($79.7 million), tennis ($43.9 million), and soccer ($34.1 million) all contributed significantly to July’s handle, too.

July also marked the first time Olympics betting was made possible, not just in Illinois but in most legal markets in the U.S. Although Illinois does not report bets specific to the Olympics, anecdotally, it appears that the events in Japan did not draw widespread interest.

“With events held in the middle of the night in many cases and sports that are a bit unfamiliar to bettors, the Olympics did not appear to draw a lot of wagering,” Ramsey said. “In the end, the traditional team sports are still by far the largest draw for bettors, which is why football is so important for sportsbooks.”

July’s wagering included $351.4 million in online bets, or 95.2% of the wagers made during the month. DraftKings/Casino Queen topped Illinois again with $122.7 million in combined online and retail handle, down from $160.2 million in June, and $120.5 million of July’s bets came online. In all, DraftKings generated $9.5 million in gross gaming revenue.

FanDuel was not far behind with $118.5 million in online and retail wagers, down from $156.3 million in bets in June. $118.0 million of July’s betting came online. It all resulted in a market-topping $15.5 million in gross gaming revenue.

The leaders were followed by:

  • BetRivers/Rivers Casino ($68.0 million in wagers, including $58.7 million online; $6.1 million in revenue)
  • PointsBet/Hawthorne Race Course ($28.5 million in wagers, including $26.9 million online; $2.7 million in revenue)
  • Barstool/Hollywood Aurora ($23.5 million in wagers, including $22.7 million online; $2.2 million in revenue)
  • Caesars by William Hill/Grand Victoria ($5.3 million in wagers, including $4.6 million online; $853,946 in revenue)
  • Argosy ($1.7 million in retail wagers; $334,226 in revenue)
  • Hollywood Joliet ($638,683 in wagers; $107,897 in revenue)
  • Par-A-Dice ($287,446 in wagers; -$16,491 in revenue)

“FanDuel continues to wring out an impressive amount of revenue from the bets it takes in,” Boozell said. “DraftKings answered with Same Game Parlays, which could help bridge the revenue gap with FanDuel. That fierce competition between the two market leaders will only grow during football season, with younger operators limited in their ability to make significant gains on the leaders with in-person registration in place.”

For more revenue information, visit PlayIllinois.com/revenue.

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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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