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Americans Will Wager $8.5 Billion on March Madness

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Americans Will Wager $8.5 Billion on March Madness
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47 Million People Plan to Place Bets on NCAA Men’s Basketball Tournament

 

Americans plan to wager $8.5 billion on this year’s NCAA men’s basketball tournament, with 1-in-5 adults placing a bet, according to a new survey released today by the American Gaming Association (AGA).

Key findings from the survey, conducted by Morning Consult, include:

  • 47 million American adults will wager $8.5 billion on March Madness;
  • $4.6 billion will be wagered on a collective 149 million brackets by more than 40 million people;
  • Nearly 18 million people will wager $3.9 billion at a sportsbook, online, with a bookie or with a friend;
    • 4.1 million will place a bet at a casino sportsbook or using a legal app;
    • 2.4 million will bet illegally with a bookie; and
    • 5.2 million will bet online, likely at illegal offshore sites.
  • The plurality of bettors favors Duke (29%) to win, followed by Gonzaga (9%), North Carolina (8%), Kentucky (7%), Virginia (5%) and Michigan (5%).

“During this year’s tournament – the first in post-PASPA America – sports fans are expected to bet 40% more than they did on this year’s Super Bowl,” said Bill Miller, AGA’s president and chief executive officer. “Unlike any other sporting event in the country, March Madness attracts millions who fill out brackets, make casual bets with friends or wager at a legal sportsbook, which Americans can now do more than ever before.”

Since the U.S. Supreme Court’s ruling in May 2018, more than $5.9 billion has been wagered in the now-eight states with legal, regulated sports betting, enabling consumer protections and generating valuable tax revenue for state, local and tribal governments across the country.

“These results indicate there’s still work to do to eradicate the vast illegal sports betting market in this country, and we’re committed to ensuring sound policies are in place to protect consumers, like the 47 million Americans who will bet on March Madness,” continued Miller.

Sports betting legalization is currently being considered in 23 states across the country.

Methodology

This survey was conducted on behalf of the AGA by Morning Consult between March 1-7, 2019, among a national sample of 11,002 adults. The interviews were conducted online, and the data were weighted to approximate a target sample of adults based on age, race/ethnicity, gender, educational attainment and region. The margin of error is +/- 1% and greater among subgroups. Bettors include those who expect to place a bet online, with a bookie, with a casino sportsbook, casually with a friend or participate in a bracket contest.

 

About AGA

The American Gaming Association is the premier national trade group representing the $261 billion U.S. casino industry, which supports 1.8 million jobs nationwide. AGA members include commercial and tribal casino operators, gaming suppliers and other entities affiliated with the gaming industry. It is the mission of the AGA to achieve sound policies and regulations consistent with casino gaming’s modern appeal and vast economic contributions.

Source: American Gaming Association

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Gambling in the USA

Gaming Americas Weekly Roundup – May 9-15

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news, new partnerships and new appointments. Read on and get updated.

Latest News

DraftKings has reported revenue of $417m in Q1 2022, an increase of 34% compared to $312m during the same period in 2021. Revenue for the company’s B2C segment grew to $404m, an increase of 44% compared to the three months ended 31 March 2021.

The Safety Consultation and Training Section (SCATS) of the State of Nevada’s Division of Industrial Relations recognises two Boyd Gaming properties – Main Street Station Casino Brewery Hotel and California Hotel and Casino – for successful entry into the Safety and Health Achievement Recognition Programme (SHARP).

Galaxy Racer has launched a fund in North America to support women in esports. The project, called HER Galaxy, features safe and empowering online platforms for gamers who identify as women.

BetMGM has announced that the first BetMGM Poker Championship is scheduled for June 23-26 at ARIA Resort & Casino in Las Vegas. The tournament, scheduled during the 2022 ARIA Poker Classic, will lead four days of BetMGM poker events.

Saracen Casino Resort has launched its BetSaracen mobile sports betting app and has become the second gaming company in Arkansas to accept mobile wagers. Saracen is also accepting wagers through the BetSaracen website.

Leadstar Media has announced that it is fully licensed and operational in the state of West Virginia. The sports wagering supplier license issued by The West Virginia Lottery allows the company to partner with and promote the legal betting sites in the state.

Partnerships

Ruby Seven Studios has announced a new partnership with Chicago-based online gaming company ODDSworks Inc. This partnership will expand Ruby Seven’s vast content library of games to include ODDSworks’ most popular games across Ruby Seven’s suite of social casino applications.

BetMGM has announced that the company now is the exclusive Sports Betting Partner of the Houston Astros. This marks BetMGM’s first relationship in Texas.

Sycuan Casino Resort announced that the organisation has signed a one-year endorsement deal with San Diego Padres Pitcher Joe Musgrove. As a part of this new agreement, Musgrove will be featured in upcoming marketing campaigns, promotions, social media content and make exclusive casino appearances.

New Appointments

Fanatics has announced the appointment of preeminent fintech, e-commerce and marketing executives Lydia Jett and Jonathan Mildenhall to its board of directors.

Infinite Arcade, the blockchain platform built to launch the mobile games industry into the metaverse, has announced the appointment of marketing industry leader Andrew Dubatowka as Core Contributor to their Product Marketing Department.

Digital audio advertising platform AdTonos has appointed Tony Moustakelis, former Director of Business Development at iHeart Media, as Business Development Director (US).

Super Group announced the appointment of Natara Holloway and Jonathan Jossel to its Board of Directors, effective immediately. These appointments increase the number of independent Board members and take the total directors on Super Group’s Board to nine.

Parleh Media Group announced that popular Canadian soccer broadcaster James Sharman has joined the company as an investor and new Head of Soccer Content.

Game Play Network Inc (GPN) has announced that it has appointed Ian Smith as the company’s Chief Technology Officer (CTO).

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Gambling in the USA

Gaming Americas Weekly Roundup – May 2-8

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news, new partnerships and new appointments. Read on and get updated.

Latest News

Light & Wonder Inc has announced that the Company has completed the previously announced legal entity name change from Scientific Games Corporation to Light & Wonder Inc in connection with its recently announced rebranding pursuant to the sale of its Lottery business.

Beach Point Capital Management LP has announced a $30 million private credit investment in GAN Limited, a leading full-service internet gaming software-as-a-service provider.

Kings Entertainment has announced that the company’s common shares commenced trading on the OTCQB market under the ticker “JKPTF”. Kings Entertainment’s common shares will also continue to trade on the Canadian Securities Exchange (CSE) under the ticker “JKPT”.

Brazil’s Senate has passed a cryptocurrency law project that seeks to give more clarity and protect users from different cryptocurrency-related scams that have happened in the country. The project will now advance to the Chamber of Deputies, which will be responsible for debating and approving or rejecting this new project.

The Massachusetts Senate has passed a bill that would allow legal sports betting – but with a prohibition on many forms of marketing – in the state. The chamber reviewed Senate Bill 2844, which added a clause to the Massachusetts General Laws clarifying that sports betting, whether online or land-based, was not a form of illegal gaming.

Aristocrat Gaming has broken ground on a new manufacturing facility in Henderson, Nevada. Henderson Mayor Debra March joined hundreds of Aristocrat team members for the groundbreaking celebration.

International Game Technology PLC (IGT) has announced that it has become the first U.S. supplier in the gaming industry to receive Global Gambling Guidance Group (G4) responsible gaming accreditation for its sports betting operations.

Maine governor Janet Mills has signed a bill that would allow for both retail and tribal-operated online sports betting into law. LD 585 would allow for the state’s four Native American tribes to apply for a license to operate online sports betting.

Ainsworth Game Technology has successfully installed its award-winning Historical Horse Racing System (HHR) and 100 machines at The Brook in Seabrook, N.H. It marks the first time HHR machines have been utilised in the recently opened New Hampshire market.

The Michigan Gaming Control Board (MGCB) has announced the addition of fantasy contest operator license applications to its official website. The agency may now issue two types of licenses.

FlowPlay has announced the launch of a new in-game fundraising campaign to benefit the American Cancer Society (ACS).

Partnerships

FanDuel Group has announced a multi-year partnership renewal to become an Official Sports Betting Partner of the New York Yankees.

playAWARDS has added experiential entertainment brand Lighthouse Immersive to its growing portfolio of reward partners.

New Appointment

FanDuel Group has appointed David Jennings as its Chief Financial Officer. Jennings will be responsible for oversight of all FanDuel’s finance functions including FP&A, strategy, accounting, procurement, tax and treasury in support of the company’s Sportsbook, Casino, Racing, Daily Fantasy, Retail and corporate functions.

New Acquisition

Playmaker Capital Inc. has acquired The Sports Drop, a US-based sports media company that focuses on NFL, NBA, MLB and collegiate sports coverage.

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Compliance Updates

EveryMatrix signs patent license agreement with IGT

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EveryMatrix signs patent license agreement with IGT
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iGaming provider EveryMatrix has just signed a patent license agreement with IGT, holder of the largest slot game feature patents portfolio in North America.

This agreement will allow EveryMatrix to offer slots across North America that utilize patented game features within IGT’s portfolio and others in IGT’s game features patent licensing program, increasing EveryMatrix’s reach and strengthening its position in the U.S. and beyond.

Erik Nyman, President EveryMatrix Americas, comments: “Signing a patent license agreement with IGT was an important milestone in our U.S expansion. Through this agreement, EveryMatrix will have access to IGT’s game feature patents, allowing us to distribute our gaming content to partners across North America.”

Stephen Calogero, VP and Deputy General Counsel, Global Gaming and Intellectual Property at IGT said: “We are pleased to add EveryMatrix as a member of the game features licensing program which has fostered unprecedented innovation for game mechanics across the industry.”

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