News and Analysis
US Players Spend $511bn Offshore Per Year
A new report commissioned by the American Gaming Association has revealed the shocking size of the US offshore gambling market. From a sample size of 5,000 US gamblers, the AGA has estimated that players spend “$510 billion a year with illegal and unregulated operators. This costs the legal industry $44.2 billion in gaming revenue and state governments $13.3 in lost tax revenue.” It’s roughly one-third of all revenue going offshore and a split of nearly $64 bn on sports and almost $338 bn on casino games.
Design Works Gaming Scores DraftKings Roll-Out
Design Works Gaming has extended its DraftKings partnership, launching in Michigan this week. DWG first went live with DraftKings in New Jersey via integration with Light and Sonder’s OpenGaming platform. Players at DraftKings MI can now enjoy hit titles, including Double Fancy 7’s, Panda Queen, 10X Fortune, and Diamonds, Sapphires & Rubies - check them out at DraftKings Casinos.
DWG CEO Troy Zurawski said of the agreement, “DraftKings is one of the initial innovators of the US interactive market and they have carefully constructed a competitive, exciting ecosystem for their players…The fact that their team has prioritized bringing DWG titles to every market as fast as possible really speaks to the quality of our content and how it resonates with their players.”
Nevada Hits $1.28bn Gambling Revenue in October
Nevada has hit eight months in a row where revenue has been above $1bn, with October’s totals accounting for a whopping $1.28bn, a 4.9% YoY increase.
Massachusetts Gets 15 Sports Betting Applications
The Massachusetts Gaming Commission has received 15 sports betting applications ahead of next week’s deadline. Encore, MGM, and Plainridge Park have each applied for category one licenses, allowing one retail and two online skins. BallyBet, Betr, Betway, DraftKings, FanDuel, and Pointsbet have applied for category three operator licenses. A further seven licenses will go to standalone applicants. Its hopped retail sportsbooks will launch in January 2023, with online options following two months later.
Maryland Bettors Place over 16.5 mill Bets in First 5 Days
Over 16.5 million geolocated transactions have been reported in the first five days of online legal sports betting in Maryland, showing a solid start to the market. During the period, players could place bets via BetMGM, BetRivers, Barstool, Caesars, DraftKings, FanDiel, and Pointsbet. Three further online sportsbooks are yet to launch, Parx, Betfred, and Fanatics Sportsbook.
Thor Equities: Coney Island Casino Bid
Thor Equities, a real estate developer, has announced plans for a new Coney Island casino with backing from Saratoga Casino and Chickasaw Nation. With three new casino licenses up for grabs in the upcoming months, Thor Equities has thrown in their chips with a NY casino plan that would create 2,500 construction jobs, many permanent casino positions once open, and an investment of $3bn. Thor Equities faces competition from Caesars Entertainment and Wynn Resorts.
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