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NJ Sports Betting Fumbles in Its Second Full Month, Down 51%
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New Jersey sports betting was looking red hot in September with the first month of NFL betting generating nearly $24 million but things took a quick turn in October where revenues dropped drastically to $11.68 million, a drop of 50.6% month over month. While it’s too early to throw in the red flag we should take notice of a few things. Firstly, not all NJ online casinos who are planning to offer sports betting have launched as of today. Golden Nugget online casino, Resorts Online Casino, Hard Rock online casino, and Bet365 are just a few that all plan to launch online sportsbooks within the next few months. So, the market is still very young and without a few of its heavy hitters.
Odds Underdogs Could Be Throwing Off NJ Sportsbook Revenues
Secondly, NJ sportsbooks can have bad months. At the current level of revenue, it is very easy for a few big wins to drastically sway the revenue total. Look at DraftKings Sportsbook. They went from $8.5M in September to just over $5M in October. While we don’t have visibility into turnover volume, we can say confidently that DraftKings probably took in some heavy action that didn’t go their way. Thirdly, home underdogs have been uncharacteristically good against the spread this year with a total record of 27-22-1 through November 20th.
NJ Sportsbooks Are Still Catching Their Footing
And lastly, the sportsbooks in market are still trying to catch their footing. It’s early days for NJ sports betting and most books are still tweaking their operations and gearing up their marketing. There is still much to learn in terms of liability and odds management and the books are getting better every day. Give them some time and not before long will we see more brand advertising and better service.
“We’ll be keeping a close on the market as we move out of the NFL regular season to see what impact that will also have on the market but it should be noted that there could be some lost revenue back to the black market while NJ still suffers from payment and registration pains,” said BonusSeeker.com NJ Marketing Editor, Anirudh Vashishth.
The regulated New Jersey online sports market generated $11.68 million gross revenue in October, down $11.98 million from the previous month.
October 2018 NJ Sports Betting Online Revenue (in millions)
|
SPORTSBOOK |
Oct-18 |
|
Bally Casino AC |
$ 0.30 |
|
Bally Online |
$ 0.11 |
|
Borgata Casino AC |
$ 0.12 |
|
Borgata Online |
$ 0.07 |
|
Golden Nugget Casino AC |
$ 0.05 |
|
Golden Nugget Online |
$ 0.15 |
|
Harrahs Casino AC |
$ 0.10 |
|
Harrahs Online |
$ – |
|
Ocean Resort Casino |
$ 0.44 |
|
Ocean Online |
$ 0.39 |
|
Resorts Casino AC |
$ 0.10 |
|
Resorts Online |
$ 5.09 |
|
Meadowlands Track |
$ 1.11 |
|
Meadowlands Online |
$ 2.43 |
|
Monmouth Park |
$ 0.61 |
|
Monmouth Online |
$ 0.61 |
|
Tropicana AC |
$ 0.02 |
|
Tropicana Online |
$ – |
|
Total |
$ 11.69 |
|
Total Online |
$ 8.84 |
|
Total B&M |
$ 2.85 |
PA Sportsbooks Kick Off After New Jersey’s Wave
On Nov 15th, Hollywood Casino opened it’s PA Sports betting lounge, the first operator to take a legal sports bet in Pennsylvania. Online sports betting is also legal in PA, however no operators have launched this service as of now. PA Casinos are anticipated to open up online sports betting operations before the end of the ’18-’19 NFL season.
For more information, visit https://www.bonusseeker.com
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BonusSeeker is a leading source for iGaming news, online games, and online-casino promotions in the U.S. regulated online gaming markets.
Source: BonusSeeker
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Tequity and iBankroll forge strategic partnership
Tequity, the technology partner behind some of the industry’s most scalable and customisable gaming solutions, has announced a strategic partnership with iBankroll that brings together two complementary engines of operator growth: high-performance Originals content and a liquidity support solution designed to remove exposure and empower operators to scale responsibly.
The partnership reflects a shared ambition to help operators overcome both creative and capital constraints. Through iBankroll’s Bankroll-as-a-Service solution, partners gain access to Tequity’s modular Remote Game Server (RGS) and its expanding portfolio of fully customisable Originals – a suite of provably fair, streamer-friendly, brandable titles engineered for next-generation engagement.
By aligning liquidity support with cutting-edge content delivery, the partnership aims to remove longstanding barriers in the iGaming sector – whether related to volatility, differentiation, or the technical bandwidth required to launch new experiences at speed.
Operators will now be able to offer bigger limits, streamline withdrawals, and deploy fully brandable Originals, supported by a capital-efficient foundation that enhances consistency and theoretical value.
With operators increasingly seeking adaptable content frameworks and operational models that support higher limits and smoother user experiences, the collaboration introduces an integrated pathway to growth.
The joint rollout marks the beginning of a broader collaboration, with both companies focused on accelerating innovation across fintech and gaming technology.
Dominic Sawyer, VP Growth at Tequity, said: “iBankroll removes the capital constraint for ambitious operators. Tequity does the same on the content side with high-performance, fully brandable house games. Together, we give partners the confidence to offer bigger limits and smooth withdrawals on games that players genuinely love.”
Hayden Bowman, Co-Founder of iBankroll, added: “Tequity’s engineering expertise, scalable infrastructure, and standout Originals portfolio make them an ideal partner. Bringing their technology together with our Bankroll-as-a-Service gives operators a compelling foundation to grow, innovate, and future-proof their business.”
The post Tequity and iBankroll forge strategic partnership appeared first on Gaming and Gambling Industry Newsroom.
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ENJOY expands distribution through SoftGamings partnership
Collaboration marks a key step in ENJOY’s ongoing growth strategy
ENJOY, the dynamic iGaming content developer, has broadened its market access through a new partnership with SoftGamings, bringing its slot and live casino portfolio to one of the industry’s leading aggregation platforms.
The deal sees ENJOY’s content, including standout releases Hotfire Diamonds, Bison Strike and Grand Lightning, made available to SoftGamings’ extensive network, reinforcing the studio’s strategy to deliver its titles across multiple markets.
The integration is the latest in a string of alliances with key industry stakeholders, and reaffirms the studio’s commitment to innovative design, technical reliability and long-term commercial impact.
Christos Zoulianitis, Chief Commercial Officer at ENJOY, said: “This new partnership firmly places ENJOY’s games in front of a wider audience seeking proven, high-quality entertainment.
“SoftGamings has established itself as a trusted distribution partner, and this collaboration supports our focus on sustainable, global growth.”
Inna Lukina, Head of Partnerships at SoftGamings, added: “ENJOY delivers strong, player-focused content that stands out for both its technical execution and playability.
“Adding its titles to our platform offers our clients access to a brand with clear creative direction and momentum.”
The post ENJOY expands distribution through SoftGamings partnership appeared first on Gaming and Gambling Industry Newsroom.
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PRAGMATIC PLAY STRIKES GOLD WITH FORTUNE OF OLYMPUS
Pragmatic Play, a leading content supplier to the iGaming industry, unleashes a thunderous new entry in its iconic Greek Gods series with Fortune of Olympus – an electrifying 7×7 cluster-pays slot charged with random multipliers, dynamic special bets, and a 10,000x max win.
Fortune of Olympus is the latest feature-packed addition to the industry-leading Gates of Olympus universe. The blockbuster slot delivers explosive action as clusters of 5-15+ matching symbols reward players with wins of up to 150x in the base game.
On any spin, mighty multiplier symbols worth 2x-500x can strike the grid. When multiple multipliers hit, their values combine and detonate into a single, supercharged payout at the end of the tumbling sequence.
Landing 4-7 scatter symbols triggers the bonus game, awarding 15-30 free spins. During this striking feature, every multiplier that appears is added to a growing total multiplier, which is applied to all subsequent wins in the round, building tension and potential with every spin.
Players in certain markets can also amplify the action with special bets. Ante bets boost the chance of triggering Free Spins or Super Free Spins. The two Super Spins options guarantee at least one multiplier on every spin, with the second raising the minimum multiplier value to 50x.
Those eager for instant power can jump straight into Free Spins or Super Free Spins via 100x or 500x bonus buys, with the latter ensuring all multipliers start from 5x and above.
Fortune of Olympus marks the triumphant return of Pragmatic Play’s legendary Zeus character, following the success of Gates of Olympus Super Scatter and Gates of Olympus 1000, and pushes the fan-favourite series into thrilling new territory.
Irina Cornides, Chief Operating Officer at Pragmatic Play, said: “Fortune of Olympus is a stunning addition to Pragmatic Play’s popular Greek Gods series and a distinctly different kind of outing for Zeus. Taking the iconic Gates of Olympus series in a thrilling new direction, this feature-rich slot delivers a standout experience with epic win potential.”
The post PRAGMATIC PLAY STRIKES GOLD WITH FORTUNE OF OLYMPUS appeared first on Gaming and Gambling Industry Newsroom.
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