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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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New Chief Executive Promises to protect Macau’s Gaming and Tourism Industry

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9-9 New Chief Executive Promises to protect Macau’s Gaming and Tourism IndustryReading Time: 1 minute

 

Ho Iat Seng, the new Chief Executive of Macau, has promised to protect the future of Macau’s gaming and tourism industries.

Speaking at a media conference in Beijing, Ho pointed to the “one country, two systems” principle and national security law as playing an important role in the stability of the city which in turn was vital to its ongoing prosperity.

“One can see that Macau has been doing quite well over the past 20 years in the one country aspect, including the enactment of a national security law. With such legislation, we can prevent interference by foreign influences. If they dare to come to intervene, we will make use of our law to safeguard the one country. We won’t allow foreign influences to have a hand in Macau’s affairs,” Ho said.

“Macau cannot afford to fall into chaos. Macau is a tourism city. Our major revenue comes from tourism and the gaming industry. We need to protect people’s livelihood,” Ho added.

Asked about the impending expiration of Macau’s six gaming concessions and sub-concessions in 2022 and the progress of plans for re-tendering, Ho explained that a draft had already been developed which would be refined and amended once the new administration takes over in December.


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: New Chief Executive Promises to protect Macau’s Gaming and Tourism Industry

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Patagonia Entertainment Signs Deal with Booongo

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8-11 Patagonia Entertainment Signs Deal with BooongoReading Time: 1 minute

 

Patagonia Entertainment has signed an agreement with HTML5 games developer Booongo Games. This agreement will see Patagonia integrate a wide selection of slot titles onto its Gaming Aggregation Platform.

Patagonia clients will now be able to access Booongo’s cutting-edge portfolio, which includes top-performing games. The latest releases from Booongo such as Vikings Winter and Olympian Gods will also be made available on the Patagonia platform.

“Booongo Games places huge importance on creating immersive and engaging slot content. This raft of new games will be a welcome addition to our Gaming Aggregation Platform,” Victor Arias, Patagonia Entertainment’s Global Business Development Manager said.

“We’re excited to have signed this agreement with Patagonia and extend our base of clients in Latin America. Our partnership with Patagonia underlines the commitment we have for improving player engagement with the casino brands in Latin America and this will bring value for both Booongo and our partners,” Sebastian Damian, Commercial Director at Booongo said.


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: Patagonia Entertainment Signs Deal with Booongo

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Unikrn & Unicorns of Love Partner to Find the Next Big Pro Streamer or Pro Gamer

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unikrn-pro Unikrn & Unicorns of Love Partner to Find the Next Big Pro Streamer or Pro GamerReading Time: 1 minute

 

Unikrn, the world’s longest-operating esports-first betting operator, and Unicorns of Love, one of gaming’s most beloved fan-focused esports franchises, are offering a $50,000 streaming or esports contract for a new esports talent to join the Unicorns of Love banner.

Aspiring streamers who are over 18 years old can apply at Unikrn.com/best-job.

The applicants will have an opportunity to upload a short video as well as register their playing and streaming stats by using Unikrn UMode during the consideration period. Finalists will be announced after applications are considered.

The winner of this unprecedented sponsorship contest will begin streaming or competing full-time with support from Unikrn and Unicorns of Love in 2020.


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: Unikrn & Unicorns of Love Partner to Find the Next Big Pro Streamer or Pro Gamer

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