Connect with us
European Gaming Congress 2024

Canada

PlayTenn.com: Football pushes sports betting to fresh record in September

Published

on

 

A record $257 million in bets poured into Tennessee sportsbooks in September, as a full month of college football and the return of the NFL spurred bettors. The new highwater mark is indicative of a market that still has plenty of room for growth, according to PlayTenn, which tracks the Tennessee gaming market.

“As impressive as September was, the Tennessee sports betting market has not nearly reached its potential,” said Eric Ramsey, analyst for the PlayUSA.com Network, which includes PlayTenn.com. “Baseball’s postseason and the return of the NBA, coupled with a full month of the NFL, should move Tennessee forward again. The records will continue to fall over the next few months.”

Sportsbooks accepted $257.3 million in bets in September, up 78.1% from $144.5 million, according to official data released Tuesday by the Tennessee Education Lottery and Sports Wagering Advisory Council. Bettors placed $8.6 million in wagers per day over the 30 days of September, up from $4.7 million per day over the 31 days of August.

The handle topped the state’s previous high of $211.3 million wagered in January, and marked just the third time since Tennessee launched sports betting in November 2020 that betting surpassed $200 million in a month.

Advertisement
Stake.com

Gross revenue set a record, too. Sportsbooks won $25.6 million in September, up 93.9% from $13.2 million in August, topping the record $20.9 million in revenue gained in January. The win led to $16.6 million in taxable revenue, which yielded $3.3 million in tax revenue.

The return of football was the key to Tennessee’s surge.

“Football is unique in the way it motivates bettors, and sportsbooks got a little help with decent starts in September by the Titans and Volunteers,” said Nicole Russo, analyst for PlayTenn.com. “With local interest in the Atlanta Braves and the start of the Grizzlies season adding to the mix, October should push sportsbooks to yet another level.”

At 9.9% in September, the combined hold for Tennessee’s sportsbooks still hovered near the 10% threshold required by Tennessee regulations. That rule, among others, is still being reviewed by the Tennessee Sports Wagering Advisory Council.

Operators have been outspoken in their concern for the rule, which is unprecedented among U.S. legal sports betting markets.

Advertisement
Stake.com

“It’s remarkable how well Tennessee has performed, and it has even more potential,” Russo said. “Removing the hold requirement would spur competition among operators. And savvy customers who shop for the best odds and promotions would benefit most. That would help grow the market over the long term.”

Continue Reading
Advertisement

Canada

Greo and CCSA Release New Report Named “Gambling Availability and Advertising in Canada: A Call to Action”

Published

on

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:

Advertisement
Stake.com
  • 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.

Continue Reading

Canada

Call for a National Strategy to Address Gambling-Related Harms in Wake of Sports Betting Boom

Published

on

call-for-a-national-strategy-to-address-gambling-related-harms-in-wake-of-sports-betting-boom

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.”

Advertisement
Stake.com
Continue Reading

AGCO

Edict Egaming Secures Approval for Ontario Licence

Published

on

edict-egaming-secures-approval-for-ontario-licence

 

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.

Continue Reading

Trending