BetMGM’s Post

【 From our strategic partners at CDC Gaming Reports in the US 】 The Ohio Casino Control Commission recently announced that the state’s sports betting market grew substantially in September. Their monthly sports betting handle grew year-over-year to hit $6 billion. Ohio online sportsbooks finished with a $864.3 million handle in September 2024, a 25% year-over-year increase compared to their figures from September 2023. This was the state’s third-highest handle since sports betting went live in January 2023. ⚾ #InsideAsianGaming #IAG #CDCgaming #Ohio #sports #betting #market #iGaming #revenue

Super Group to Exit the US Sports Betting Market In a surprising move, Super Group, the parent company of Betway, announced today that it will be exiting the US sports betting market. This decision marks a significant shift in strategy for the global gaming giant, which had previously seen the US market as a major growth opportunity. Strategic Realignment Super Group's CEO, John Collins, explained in a press release that the decision was driven by a need to refocus resources on more profitable and sustainable markets. "While the US market has tremendous potential, it also presents unique challenges and a highly competitive landscape," Collins stated. "Our priority is to ensure we are investing in markets where we can achieve sustainable, long-term growth." The US sports betting market has seen explosive growth since the Supreme Court's 2018 decision to overturn the federal ban on sports wagering. However, it has also become increasingly saturated, with numerous operators vying for market share. Super Group faced intense competition from established players such as DraftKings Inc., FanDuel, and BetMGM, as well as new entrants continuously entering the market. Moreover, regulatory complexities and high customer acquisition costs have made it difficult for many operators to turn a profit. Industry analysts have noted that while the market is expanding, the path to profitability remains challenging for many companies. #usa #sports #casino #gambling

The New York’s sports betting revenue has shown impressive resilience despite a dip in the total amount wagered (handle) to $1.26 billion in July 2024. The state recorded a revenue increase to $140.3 million, up 4.8% from the previous month. This uptick is thanks to a stronger hold percentage, highlighting the dynamic nature of the sports betting industry. It’s fascinating to see how strategic management and market adaptability can lead to such positive outcomes. The sports betting landscape continues to evolve, and it’s exciting to watch these trends unfold! #SportsBetting #NewYork #RevenueGrowth #MarketTrends #Finance #igaming

''As the home of premium sports betting solutions, operators can be safe in the knowledge that Kambi has a product to suit their strategic needs, capable of elevating their sportsbook to the next level.''   Kambi's new CCO, Sarah Robertson, sat down with SBC News to give an in-depth overview of Kambi's expanded portfolio of revenue-driving sports betting services and how they can empower an operator's sportsbook regardless of their strategy.   You can read the full interview here: https://lnkd.in/dFG5EJpY

Industry Giants Diversify with Lottery Acquisitions and Digital Innovation! A prime example is DraftKings, which is increasing its market share through it's latest lottery acquisition and digital growth strategies. Discover how diversifying digital offerings can unlock new markets and revenue streams. Topics that link to this in our upcoming event Agenda: Panel: Where are the Dollars Going? Unseen Trends in 2024: Exploring niche sports betting, esports, and in-play wagering. Moderator: Joe H. Owner & Founder, LHC Panellist: Chase Richardson, CEO, Full Pull Entertainment Panel: Maximising Marketing Budgets: Leveraging major sporting events and emerging technologies. Moderator: Heather Lee, VP of Casino Sales & Partnerships, Engaged Nation Panel: Five Years Later: Future predictions for the US sports betting market. Moderator: Bruce Merati, FCA, CEO & Founder, Uplay1 Key Takeaways: To thrive, operators must tap into diverse revenue streams like lottery and brick-and-mortar operations, beyond just sports betting. 🔗 Learn more and register: https://lnkd.in/gCVmEnAH Eventus International Yudi Soetjiptadi Lou-Mari Burnett Josh Blom Martin Ellis Klara Schoonraad Duan Nel Ashleigh Strauss Leigh Booysen Caylin Keuler Johane Vermeulen Melissa Knoetze #DraftKings #iGaming #DigitalInnovation #SportsBetting #MarketDiversification #EventusInternational #LotteryAcquisition #GamingIndustry

🆕 VIP Play, Inc., the operator behind ZenSports in Tennessee secured market access in West Virginia. The company has signed a definitive agreement with Delaware North to operate sports betting and online casino under Delaware North’s Wheeling Island Casino license.

🗓️ bet365 Publishes 2024 Year in Sports Betting Report The report examines developments in regulated markets in North America, Latin America, and Europe, while highlighting shifts in betting preferences and industry innovations. Read the full article here ➡️ https://lnkd.in/eS8YDYjt #igaming #igamingnews #igamingindustry

Sporting Risk, a platform in sports betting analytics and forecasting, has officially integrated its content with Pragmatic Play, introducing an advanced betting package for its clients. Andy Phillips, Chief Commercial Officer at SportingRisk.com, highlighted the important of this partnership: “Pragmatic Play’s sportsbook solution is used by an extensive list of tier-one operators. Our predictive modelling and sports analytics expertise is driving growth in key markets.”

Caesars Sportsbook plans to enhance its sports betting presence in Washington, D.C. by installing self-service kiosks at 48 small businesses across the city. https://lnkd.in/eCDwGeuJ

"As we look to the future, lotteries’ ability to leverage sports betting will be one instrumental growth driver, and the key to success in this new venture is ensuring that lotteries have the right partner to help maximize their sports betting success." Learn more about how IGT PlaySports has provided its customers with reliable and successful sportsbook platforms in the article below. https://lnkd.in/e7Uj9B7g