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March Madness Pushes New Jersey Sportsbooks to Record Month, According to PlayNJ.com
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New Jersey’s online and retail sportsbooks scored a record win and near-record monthly handle in March as the industry crossed the $2 billion mark in bets since legalization. The spike was fueled overwhelmingly by the NCAA Men’s Basketball Tournament, according to PlayNJ.com analysts.
“The first week of March Madness generated more action than the Super Bowl, and even the First Four games attracted enough betting to rival a busy weekend of NFL regular season football,” said Dustin Gouker, lead sports betting analyst for PlayNJ.com. “That is unquestionably a massive success and shows clearly the importance of college basketball to the Northeast’s legal sports betting markets.”
New Jersey’s online and retail sportsbooks accepted $372.5 million in March bets, just shy of the record $385.3 million in January, according to official reporting. New Jersey’s online and retail sportsbooks have now accepted $2.3 billion in bets since legalization in June 2018.
March revenue was $31.7 million, up 150 percent from $12.7 million in February. The win and a high-water gross revenue mark for the state’s online casinos combined in March to generate more than $70 million in monthly revenue.
“$2 billion in bets in nine months shows just how much pent-up demand for legal sports betting existed in New Jersey,” Gouker said. “As quickly as the industry has ramped up, though, the next milestone should come more quickly. $3 billionis certainly within reach by the industry’s first anniversary in June.”
New Jersey’s online sportsbook brands accounted for $298,3 million, or 80.8 percent, of total March bets. That’s even with the 80.8 percent of bets that flowed through online sportsbooks in February.
FanDuel Sportsbook/Pointsbet was the dominant online sportsbook, beating rival DraftKings Sportsbook, with $13.3 million in gross revenue, up from $6.59 million in February. DraftKings fueled Resorts’ $7.3 million in March, up from $3.7 million in February.
FanDuel Sportsbook at The Meadowlands remained tops in the retail market with $4.3 million in March gross revenue, up from $1.5 million in February. Monmouth Park followed FanDuel with $986,251.
“Online sports betting will continue to drive the market, and product innovations will likely bear much more fruit in the near future,” Gouker said. “New Jersey’s sportsbooks already offer the most advanced online product of any legal sports betting jurisdiction, and bettors have continually responded.”
LEGAL ONLINE CASINOS
New Jersey’s online casino and poker industry extended its run of record-breaking months of March, nearly reaching the $40 million gross revenue threshold for the first time. Legal online gambling generated $39.1 million in March gross revenue, up 53 percent from $25.6 million in March 2018 and up 23 percent from $31.8 million in February.
The industry generated $1.3 million per day during the 31 days of March, up from the $1.1 million per day in the 28 days of February. With the new record, the industry has now posted an all-time monthly revenue record in every March since New Jersey launched online casinos in late 2013.
“Online sports betting is clearly driving online casino growth,” said Steve Ruddock, lead online gambling analyst for PlayNJ.com. “March has become a predictable spark for New Jersey’s online gambling industry and a first-half indicator for what gains the industry will make in the second half of the year. That pattern should continue this year.”
For more, visit PlayNJ.com/news.
About the PlayUSA.com Network:
The PlayUSA.com Network and its state-focused branches (including PlayNJ.com and PlayPennsylvania.com) is a leading source for news, analysis, and research related to the market for regulated online gaming in the U.S.
SOURCE PlayNJ.com
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: March Madness Pushes New Jersey Sportsbooks to Record Month, According to PlayNJ.com
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Lars Kollind, Business Development Manager at Playson, has been nominated for Sales Idol of the Year at the iGaming Idol 2019.
Kollind, who has helped raise the profile of the casino software developer since joining the company earlier this year, impressed the panel of expert judges with his management skills and commercial acumen.
Winners will be announced at a prestigious awards ceremony, which takes place on 11th September at The Westin Dragonara Resort, Malta.
The iGaming Idol Awards celebrates those who have excelled in their field of expertise and made a positive impact on the iGaming industry.
Lars Kollind, Business Development Manager at Playson, said: “I’m delighted to have been shortlisted for Sales Idol of the Year at this year’s iGaming Idol Awards.
“It has been an exciting few months at Playson with some big commercial deals announced and the release of some fantastic games.
“It’s an honour to be nominated by my peers and fingers crossed we can turn this shortlist into some silverware.”
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Playson’s Business Development Manager Lars Kollind shortlisted for iGaming Idol Awards
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New deal extends distribution of innovative portfolio across new markets
Evoplay Entertainment, the innovative game development studio, has continued to expand its global market presence by signing with leading operator Leonbets.
The deal will see Evoplay Entertainment’s full portfolio of more than 60 slots, table, and instant games go live with Leonbets.
Alexander Levchenko, CEO at Evoplay Entertainment said: “We are delighted to sign with Leonbets, one of the industry’s fastest growing operators.
“The Leonbets team’s reputation as a great partner and an operator with a strong focus on customer enjoyment precedes them and we are sure this will be the start of a long chapter of productive and successful co-operation together.”
Dimitry Popov, spokesperson for Leonbets, said:“Evoplay Entertainment’s games are a fantastic asset alongside our existing content, and we’re thrilled to have them on board.
“Their innovative 3D/VR slots will be available to all our players and we’re looking forward to seeing how excited they will be.”
Despite only being founded in 2017, Evoplay Entertainment’s portfolio already includes more than 60 slots, table, and instant games. With a development focus on responding to a new generation of players’ demands for more immersive, innovative gameplay, it is the industry’s first development studio to have developed two full HD and VR in-browser slots.
Its most recent, Sprinkle, unveiled at ICE 2019 in February. Unique for its mobile-first mechanics and the 360’ degree 3D / VR in-browser capabilities, allowing players to rotate, zoom in and out, as well as swiping left or right on their mobiles to change their bets automatically.
In addition, the studio has recently finalised the industry’s first RPG (role playing) slot, Dungeon, an HTML5 mobile game designed for a new generation of users and presenting them with a truly immersive experience.
Instead of regular pay symbols and pay patterns, the game’s mechanics follow a player’s 3D character as he battles monsters and accumulates loot when victorious.
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Evoplay Entertainment Goes Live With Leonbets
Latest News
Association of Gaming Equipment Manufacturers (AGEM) and Gaming Laboratories International (GLI®) Create “Lasting Impact Philanthropic Initiative”
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First gift is a $500,000 contribution to UNLV College of Engineering building fund
The Association of Gaming Equipment Manufacturers (AGEM) and Gaming Laboratories International (GLI®) announced today the creation of their new “Lasting Impact Philanthropic Initiative,” a multi-year effort aimed at identifying worthy causes that will utilize direct contributions to flourish over the long term and provide a variety of assistance to multiple beneficiaries.
The first gift from the newly formed Initiative is a $500,000 contribution to the Howard R. Hughes College of Engineering building fund at the University of Nevada, Las Vegas (UNLV), which is developing a 51,000-square foot, three-floor building on campus to accommodate the approximately 260 B.S., 50 M.S. and 20 Ph.D. engineering graduates each year and projected future growth. The Initiative’s $500,000 gift is a direct investment in the importance of education in Nevada, the city of Las Vegas, university students and faculty and the future pipeline of skilled engineers for gaming and many other industries.
“AGEM is proud to be working with GLI on this unique giving program that will benefit many different audiences and will be true to the idea of making a ‘lasting impact’ through a strong ripple effect inside the gaming industry and beyond,” AGEM Executive Director Marcus Prater said. “We value GLI’s commitment in joining us to make a positive difference in everything we do, and we look forward to seeing the UNLV College of Engineering break ground on its new building.”
“Since opening our doors 30 years ago, GLI has been dedicated to giving back to the communities where we do business around the world. We are committed to creating big ideas making a big difference in the global gaming industry and partnering with AGEM to create the Lasting Impact Philanthropic Initiative is the latest illustration of that commitment,” said GLI President/CEO James Maida. “Given the highly technical nature of today’s gaming industry, a vibrant and thriving engineering community is crucial to our mutual success, and that is why it was important that this first gift went to UNLV’s College of Engineering, to further solidify a pipeline of talent that will help to ensure the industry’s future success.”
“The College of Engineering is committed to building the infrastructure needed to educate the engineers of tomorrow, and creating research space that will enable the forward-thinking progress of corporate partners such as AGEM and GLI,” said Rama Venkat, Dean of the Howard R. Hughes College of Engineering. “This generous gift from the Lasting Impact Philanthropic Initiative will help make that possible. The new Advanced Engineering Studies Building will facilitate critical research, foster innovation, and pave the way for the vision we all share for Nevada’s future of a robust tech-based economy.”
The www.AGEMGLIimpact.org website will be an ongoing source of information about this collective effort.
Source: Gaming Laboratories International
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Association of Gaming Equipment Manufacturers (AGEM) and Gaming Laboratories International (GLI®) Create “Lasting Impact Philanthropic Initiative”
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Association of Gaming Equipment Manufacturers (AGEM) and Gaming Laboratories International (GLI®) Create “Lasting Impact Philanthropic Initiative”
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