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New Jersey Online Casino Market Heats Up as Sports Betting Takes Off

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New Jersey Online Casino Market Heats Up as Sports Betting Takes OffReading Time: 2 minutes

 

Let the games begin, NJ online casinos raked in over $26 million in gross gaming win from casino, poker, bingo, and sports betting in August 2018. There was a small slowdown in online casino revenue in August compared to July as Golden Nugget‘s group of casino operators dropped $1.15 million in gross revenue. The real winner in the market was Draftkings Sportsbook, which sits under Resorts Digital Gaming’s license, as they soared to a whopping $2.97 million in their first month of sports betting operations. A noticeable mention goes out to Hard Rock Online Casino as they saw a steady increase in revenues to generate nearly $500k in their second month of operations.

NJ Online Sports Betting Could Surpass Casino Wagering

Sports betting has the potential to be a real game changer as NJ online sports betting operators gear up and launch their products in peak football season.

The question that remains is how sports will impact casino and poker revenues – as replacement wagering or incremental. So far Sugarhouse Online Casino and Caesars Online Casino are the only operators to offer both casino and sports betting on one website, but they only launched in early September.

For now there is only one month to analyze, and we saw a 4.22% dip in casino and poker revenue from July to August as sports betting went live. However, with increased marketing coming with football season, and a turn to inclement weather in September, will this rising sports betting tide lift all boats? Based on online sports betting revenues in the first month alone, one thing seems clear – people want safe, secure, and legal ways to bet on sports online in America. The tax revenue implications as more States turn to legalization could be substantial.

“Draftkings Sportsbook looks to impress as they have a clear blueprint for success, which they could scale out nationwide,” said BonusSeeker.com Casino Editor, Anirudh Vashishth.

The regulated New Jersey online casinos generated $25.89 million gross revenue in August, up $3.21 million from the previous month.

August 2018 NJ Online Casino Revenue by numbers (in $ millions):

Casino

Golden Nugget

$8.17

Resorts

$3.37

Borgata

$4.22

Caesars

$2.76

Ocean Resort

$0.385

Hard Rock

$0.481

Tropicana

$3.59

Total

$22.99

 

Poker

Golden Nugget

$0

Resorts

$.651

Borgata

$.440

Caesars

$.725

Ocean Resort

$0

Hard Rock

$0

Tropicana

$0

Total

$1.82

 

Sports

Golden Nugget

$.103

Resorts

$2.97

Borgata

$.0496

Total

$1.85

 

Combined

Golden Nugget

$8.273

Resorts

$6.991

Borgata

$4.710

Caesars

$3.49

Ocean Resort

$0.385

Hard Rock

$0.481

Tropicana

$3.59

Total

$26.65

For more information, visit https://www.bonusseeker.com

About BonusSeeker:
BonusSeeker is a leading source for iGaming news, online games, and online-casino promotions in the U.S. regulated online gaming markets.

Source: BonusSeeker.com


Source: European Gaming Media

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Bulgaria blacklists more online betting domains

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The Bulgarian State Gambling Commission (SCG) has added two more online gambling websites to its blacklist of banned domains. The authorities found the two websites were operating without a gambling license.

The blocked websites according to the decision №55 of 18 January 2019 are df-bet.org and 1xdzug.host.

During the meeting, the Bulgarian State Gambling Commission has also made several decisions regarding local gambling business operators and companies. The relevant documents can be found of the official SCG section of Bulgarian Ministry of Finance website.


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Bulgaria blacklists more online betting domains

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Analyzing How To Uberize The iGaming Industry With A Glocal Approach

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BtoBet unfolds its latest Industry Report prior to flying to ICE London

With the first years of the iGaming industry defined by the use of inflexible in-house technological solutions, nowadays there is general consensus that the use of technology developed by tech visionaries is the only way forward to guarantee constant innovation and an optimal player experience.

In its latest Industry Report, “Uberizing iGaming with a glocal approach”, BtoBet analyses the industry’s past rigid approach to technology, and its own current endeavour to uberize the market through a harmonization process of cutting edge technology, which easily morphs itself to the different business and market scenarios, constantly adapting itself on a local level.

In his dedicated editorial, BtoBet’s CEO Alessandro Fried states that it is of the utmost importance for operators to have at their disposal advanced technological solutions which they must couple with the right knowledge and expertise from a local perspective in order to meet all their pre-set goals. “It is a must to keep in mind that one size does not fit all. Technology that excels itself in a mature market will not work in a more technologically limited context and thus will have to adapt itself. The eventuality of making it big in one local market does not necessarily mean that adopting the same approach will eventually pan out as expected in another, even if neighbouring, country. Obviously this applies also vice versa. But for this to work out without any hiccups you must also have the correct know-how of all the the various aspects that constitute the context where licensees will be operating.”

The Report also focuses on the unique elements that constitute the White Label Partnership (WLP) Program, the industry’s first real uberization model, where technology and operational services are streamlined in a holistic way for White Label Operators to easily access the online channel, even without their having the prior expertise in this particular field. Particular reference is made to the Latin American region, with the WLP Program expanding in the region via the certified partnership with Wildar Gaming who will start delivering BtoBet’s advanced technologies and operational services in the region to other White Label Operators.

Download BtoBet’s latest industry report and schedule a meeting to meet our team of experts who will be present at ICE London at S1-320 to analyse and understand which approach best fits your operational requirements.

 

About BtoBet:
BtoBet is a multinational company and is part of a group with 20 years of experience in software development in IT, telecommunication, e-commerce and banking, strongly committed to technology and widely investing in technology research and development. The experience gained at the forefront in these advanced environments, compared with the more recent gambling industry, allows BtoBet to be visionary with a deep understanding of the requirements of the market, catching changing trends and anticipating bookmakers’ and operators’ needs. BtoBet is a true partner in technology, offering a standalone platform and services for the iGaming and Sports Betting industry. It counts on a very talented, continuously trained development team and day to day management support to clients. BtoBet allows licensees to be unique in the market, by giving them the opportunity to completely personalise their offers for Sports betting and iGaming business, online mobile and retail. BtoBet has technical branches with large ever-growing teams of developers in Skopje, Ohrid, Bitola, Belgrade, Nish, Tirana, and Rome. Malta hosts the commercial and marketing centre. Visit our site on: www.btobet.com


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Analyzing How To Uberize The iGaming Industry With A Glocal Approach

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New Jersey to put a cap of $5 million on sports bet

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New Jersey gaming regulators are bringing in a new set of betting regulations, which would put a ceiling of $5 million for betting.

As per the new regulations, sportsbooks cannot accept bets over $5 mm. There’s no indication that any New Jersey sportsbook has taken a bet anywhere close to that figure, but the New Jersey Division of Gaming Enforcement seems interested in being cautious. However, it is definitely not impossible that a sportsbook has already taken a multimillion-dollar bet. Collectively, the state’s books have already taken more than $1.25 billion worth of bets.

“No wager in excess of $5 million can be accepted for any reason,” read a line in the 106-page document of proposed regulatory changes. It is known that the median wager on DraftKings Sportsbook in New Jersey is less than $10, so the limit is relatively astronomical and probably will have no impact on anyone’s bottom line.

 


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: New Jersey to put a cap of million on sports bet

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