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March Madness Pushes New Jersey Sportsbooks to Record Month, According to PlayNJ.com

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11-2 March Madness Pushes New Jersey Sportsbooks to Record Month, According to PlayNJ.comReading Time: 2 minutes

 

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

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Sportradar And SportsGrid Announce Exclusive Partnership To Launch The First Free, 24-hour Sports Betting Network

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sportradar-sportsgrid Sportradar And SportsGrid Announce Exclusive Partnership To Launch The First Free, 24-hour Sports Betting NetworkReading Time: 2 minutes

 

Sportradar, the global leader in analyzing and leveraging the power of sports data, and SportsGrid, the leader in original programming for both daily fantasy and sports betting, today announced an exclusive partnership to launch the first free, 24-hour network dedicated to the sports betting audience. The partnership marries Sportradar’s ad tech, OTT technology and data with SportsGrid’s engaging original programming providing fans with accurate coverage and analysis of stats and odds across professional sports.

“Sportradar is always looking to enhance the fan experience through the use of data and technology,” said Jason Sukhraj, SVP US Advertising and OTT, Sportradar. “Collaborating with the SportsGrid executive team provides us with the platform to mesh our core competencies around betting with their programming talent and address the increasing demand for information and content geared around sports gaming  ”

The partnership incorporates Sportradar’s release of ad:s, a service that provides bookmakers with a host of marketing solutions aimed at eliminating waste and streamlining their marketing spend. This new offering will allow bookmakers and brands looking to reach the betting community, a native opportunity to do so through sponsorship of programming as well as targeted ad spends across video & audio inventory.

SportsGrid President Louis M. Maione stated, “The integration of Sportradar data and technology into our content is game changing for our free twenty-four hour audio and video gambling network. This partnership showcases our combined vision of delivering the true convergence of content, data, and gaming to the millions of sports fans craving this informative and entertaining programming. Joining forces with Sportradar instantly affords SportsGrid with the ability to provide unquestionable best of breed sports wagering programming. Additionally, Sportradar’s delivery of a robust video solution ensures our content is placed where fans want to consume it, stamping our foothold as a market leader in the space.”

 

 


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: Sportradar And SportsGrid Announce Exclusive Partnership To Launch The First Free, 24-hour Sports Betting Network

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Gambling Revenue of New Orleans Increases in March

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6-8 Gambling Revenue of New Orleans Increases in MarchReading Time: 1 minute

 

The New Orleans gambling market has posted a positive performance in March. The casino winnings in the city were up 5.6%.

Gambling revenue in New Orleans is up from US$56.7 million to US$59.9 million. The casino with the biggest gain in March is Harrah’s, achieving almost US$29 million in winnings. These results represent an 8% increase from the US$26.8 million that the facility registered last year.

The three riverboats posted a 3.7% gain in revenue to US$26.3 million from March 2018’s US$25.4 million. Boomtown New Orleans registered a 5% increase to US$11.7 million, while the Amelia Belle had a 4.5% gain to US$4.4 million. Treasure Chest posted a 2% increase to US$10.3 million.

Casino winnings in Baton Rouge decreased 13.8% year-over-year in March and continued a losing streak. The three riverboats decreased winnings once again and registered US$23.6 million in March.


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: Gambling Revenue of New Orleans Increases in March

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Psyonix Disables Loot Boxes of Rocket League in the Netherlands and Belgium

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5-12 Psyonix Disables Loot Boxes of Rocket League in the Netherlands and BelgiumReading Time: 1 minute

 

Psyonix, an American video game developer based in San Diego, has disabled loot boxes in its arena soccer racing game Rocket League for players in the Netherlands and Belgium due to government regulations.

The Dutch Games of Chance authority, or Kansspelautoriteit, has investigated several popular games containing loot boxes in 2018 and considered many of these to be illegal. The titles investigated include PUBG, CSGO, FIFA 18, Dota 2, and Rocket League.

When random loot box content is tradable, there is almost always a certain monetary value associated with that content. This is why these countries consider paid loot boxes with random content gambling.

Aside from Rocket League and PlayerUnknown’s Battlegrounds, loot boxes were also disabled in Counter-Strike: Global Offensive and Dota 2 within the same regions in 2018.


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: Psyonix Disables Loot Boxes of Rocket League in the Netherlands and Belgium

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