Archives August 2023

Pollard Banknote’s mkodo in Contention for Two Honours - Casino Reports 31Aug
By Daniel Thompson 0 Comments
Pollard Banknote’s mkodo in Contention for Two Honours – Casino Reports

In a recent statement, Manitoba-based Pollard Banknote reported that its subsidiary, , has been nominated in two categories at SCB Awards 2023. The subsidiary is a premier B2B supplier of mobile and front-end technology to and lottery operators and is now in contention to win Employer of the Year and Innovation in Mobile.

mkodo is a prominent name when it comes to delivering apps and user interfaces to the lottery and industry around the globe. Established in 2001, the company is popular for its ability to develop and provide digital experiences to the target audience of its partners' players. Currently, the supplier works with numerous lotteries worldwide, including some Canadian ones.

Testament to its Commitment

This is mkodo's first instance of being included in the shortlist in the Employer of the Year category by SCB Awards. Its nomination comes after previously being named one of the Top 100 Places to Work in the U.K. by Sunday Times. The company takes great pride in ensuring a working environment that promotes creativity, flexibility, and innovation.

In the meantime, the provider's nomination in the Innovation in Mobile category is a testament to its devotion as a top-notch supplier of customer-facing mobile apps for the lottery, betting and gaming industries. Since its launch, the brand has provided over 400 iOS and Android App Store releases and secured an average iOS App Store rating of 4.8 out of 5.

Doug Pollard, Co-Chief Executive Officer of Pollard Banknote congratulated its subsidiary for the nomination and said the company is proud of being a full-service lottery supplier, providing digital innovations and impeccable titles to entertain audiences. He added that the subsidiary's immaculate reputation is one of the reasons Pollard is able to deliver inventive products to its partners.

It is expected that more than 1,000 guests will attend this year's SBC Awards, which celebrate the best in sports betting and gaming. The event also acknowledges the achievements of operators, affiliates, and suppliers from the sector. The special ceremony will be taking place on the last day of the SBC Summit Barcelona on September 21, 2023, at Caves Codorniu.

Recapping Q2 in Numbers

Last month, Pollard Banknote issued its financial report for the quarter ending on June 30, 2023. In Q2 of 2023, revenue hit CA$130.2 million, or 12.4% more than the results in Q2 of 2022. It also disclosed combined sales, including ones from NeoPollard, amounting to CA$148.8 million. Meanwhile, in Q2 income from operations reached CA$9.9 million.

In addition to fiscal , the company also recapped its operational high points from the first half of 2023. In that time, the lottery partner inked some important collaborations. One of those was Atlas Experiences, LLC. Via the deal, the two parties partnered on the launch of a new multi-jurisdictional Frogger instant game program, allowing lotteries to offer a grand prize and access to an integrated campaign

Source: “mkodo, a Pollard Banknote Company, Shortlisted in Two Categories at SBC Awards 2023” PR Newswire, August 30, 2023

#Pollard # #mkodo #Contention # # #

ALC Alarmed about Online Gaming Marketing - Casino Reports 31Aug
By Daniel Thompson 0 Comments
ALC Alarmed about Online Gaming Marketing – Casino Reports

Two large banners of Bet99 were spotted at last weekend's YQM Country Festival in Dieppe, New Brunswick. However, this was not left unnoticed by the Atlantic Lottery Corporation. It should be noted that the Ontario-based operator is not licensed by to operate in the Atlantic region. Its in the area led to some concerns in the Crown corporation.

ALC is the only legal and government-regulated and sports operator in Atlantic Canada. But the Crown is concerned that profits produced by offshore operators don't stay in the region to be used for healthcare, education, and road work. Estimations show that the four provinces put around CA$170 million in illegal websites.

Operators are Not Licensed by ALC

ALC president and Patrick Daigle shared that the regulator noted an increase in advertising in the local market. He explained that those operators are not regulated by the Crown and that do not pay tax in the jurisdiction. Mr. Daigle reiterated that such gaming brands do not have permits to operate there, and as the criminal code determines, it is an illegal activity.

The CEO explained that according to research finds that two-thirds of Atlantic residents are not aware that this activity is unlawful since they see a proliferation of advertising and sports stars also endorse them. That is why many people believe that these kinds of marketing are legal in the Atlantic region, but this is not the case, elaborated Mr. Daigle.

Speaking of legal , recently ALC provided a digital platform for the province of Newfoundland and Labrador which started offering regulated online gambling. Currently, the province is the only Canadian jurisdiction with no land-based casinos, therefore the introduction of iGaming was a highly-awaited one. The other two provinces are New Brunswick and Nova Scotia.

However, gambling expert Dave Briggs says those gambling protocols are unrealistic and outdated. He did note that those are essentially illegal in the region, but in reality, Canadians have been playing on unlawful websites for over 20 years now. He also stated the money is poured out of the provinces, and it cannot be invested into problem gambling resources.

Additionally, Mr. Briggs acknowledges ALC's argument about regional money retention but believes lost revenue can be recovered through legalizing gambling and taxation. He cites the thriving Ontario Lottery Gaming Corporation and tax revenue from external operators as beneficial. He emphasized the need for festivals to avoid advertising illegal gambling and highlighted the gray area in this regard.

Bolstering iCasino Offerings

Meanwhile, ALC is working on improving its digital casino offering on its official gambling platform. In August 2023, the Crown agency partnered with NeoGames S.A subsidiary Wizard Games. Via the deal, the latter provided its top-of-the-range online gaming titles to the lottery. Users now have to hit titles such as Spirit of Mustang and Flamin' 7's.

Source: Haggett, Derek “‘They don't have a license': Atlantic Lottery concerned about advertising at music festival” CTV News, August 30, 2023

#ALC # #Online #Gaming #Marketing #Casino #

Rivalry Recaps Financial Highlights from Q2 2023 - Casino Reports 30Aug
By Daniel Thompson 0 Comments
Rivalry Recaps Financial Highlights from Q2 2023 – Casino Reports

Following its recent launch of same-game parlays on eSports, leading sports and media company, , has issued its for the second quarter of 2023. In its report, the Ontario firm disclosed a betting handle of CA$112.2 million, an impressive 192% improvement over Q2 of 2022. It also provided revenue guidance for the first half of next year.

Rivalry Corp. runs Rivalry Limited, a leading global sports betting and media firm. It provides regulated betting on eSports, sports, and games. Based in Toronto, it operates across over 20 countries, holding licenses from Isle of Man, Australia, and Ontario. Some of its most prominent products include its Quest, Rushlane, and Casino.exe.

Fiscal Highlights from Q2

With its financial report, Rivalry revealed that the betting handle for Q2 of 2023 reached CA$112.2 million, which was a noteworthy 192% increase or CA$73.8 million from CA$38.4 million in 2Q22. In Q2 2023, the company also reduced spend by 6% in comparison to the same period in 2022. Its online casino segment contributed to CA$57.5 million from the total handle.

Furthermore, the operator disclosed that in Q2, revenue hit CA$8.5 million, which was an all-time high for the second quarter. Hence, amounting to an increase of CA$3.2 million or 60% from CA$5.3 million over Q2 last year. Gross profit accounted for CA$3.8 million from the previous CA$1.8 million, meanwhile, net loss hit CA$6.3 million from the preceding CA$6.2 million.

The sports betting and media company also informed that its operational expenses were almost minimal in Q2 while delivering triple digits in year-over-year growth in wagering handle every quarter. If the operating leverage trend continues in pair with concerted efforts to increasingly stabilize margin at scale, the firm will be able to provide H1/24 profitability guidance.

Another important highlight from Q2 of 2023 was the official debut of its market-leading mobile eSports betting app in the Province of Ontario. This was possible after the firm was licensed by the Alcohol and Commission of Ontario to join its regulated sector. Last but not least, the company reported CA$14 million of cash and no debt at the end of Q2.

First Corporation to Launch Same-Game Parlay on eSports

Last week, Rivalry made another huge announcement, as the prominent eSport firm became the first one to launch an eSports same-game parlay product. The new vertical will allow its players to merge bets in a single digital sports match for a better payout. Branded Same Game Combos, the product is available in League of Legends, Counter-Strike, and Dota 2 matches.

Same Game Combos will also come with custom branding and animations to enhance entertainment levels on the iGaming platform and establish a proprietary sports betting experience designed for the next generation of bettors. It features new unique visuals and interactive elements adjusted to appeal to Millennial and Gen Z audiences and their preferences.

Source: “Rivalry 192% Growth in Handle and 60% Growth in Revenue for Q2 2023, Projects Profitability in H1 2024” Rivalry, August 29, 2023

#Rivalry #Recaps #Financial #Highlights #Casino #Reports

AGCO Prohibits Athletes from Featuring in iGaming Ads - Casino Reports 30Aug
By Daniel Thompson 0 Comments
AGCO Prohibits Athletes from Featuring in iGaming Ads – Casino Reports

The Alcohol and Commission certainly took its time but now it has finally made changes to the iGaming advertisements rules in the province after concerns about an influx of betting ads. In a press, the regulator announced that it has updated the Registrar's Standards for Internet Gaming to the use of in such endorsements, in order to protect children.

Last year, Ontario introduced an open online gambling and betting market for private operators, which attracted numerous brands to the local iGaming scenery. However, this has led to an influx of ads featuring some very prominent names from sports or celebrities, endorsing gambling platforms. This became a concern for adults and gambling experts in the province.

New Rules Go into Effect Next Year

said that the changes will prohibit athletes from featuring in iGaming ads, as a way of protecting children as many say they have been overexposed to such commercials. Standards have also been updated to restrict the use of celebrities who could be appealing to minors. According to the iGaming watchdog, the new restrictions will come into effect on February 28, 2024.

After the first year of iGaming, AGCO identified advertising and approaches that use sports stars and celebrities with an appeal to minors, as potential harm to those under gambling age. That is why it introduced a proposal to ban such athletes from ads. The regulator heard input from a wide range of stakeholders, gambling experts, operators, broadcast and marketing groups, and the public.

After the consultation process, AGCO decided that the ban would help protect children and youth who can be susceptible to such marketing. Now, its updated standards prohibit provincially licensed operators from using active or retired athletes in gaming marketing and advertising. There is an exception, as such sports people can be used to promote responsible gambling practices.

Furthermore, the amended Standards for Internet Gaming limit the use of celebrities, role models, media influencers, entertainers, cartoon figures and symbols that are implied to appeal to minors. These changes bolster the existing standard that, before the recent updates, banned the use of advertising and marketing content with a primary appeal to minors.

Market Still Brings Plenty of Benefits

Despite the possible risk of affecting younger demographics, Ontario's iGaming market delivers plenty of positives to the province. Recently, it was reported the first quarter of 2023-2024, or the period between April 1 through June 30, 2023, the province handled an online betting volume of CA$14 billion. This translated into CA$545 million in gaming revenue.

In addition to revenue, it was also revealed that the province's competitive online gambling model has also brought approximately 10,000 jobs, reported . It provided more than 1,800 direct jobs with an average of CA$103,000 in annual compensation. the market generated another 7,900 indirect jobs which were created by suppliers to those gambling brands.

Source: “AGCO to ban athletes in Ontario's igaming advertising to protect minors” AGCO, August 29, 2023

#AGCO # #Athletes #Featuring #iGaming #Ads #Casino #

BCLC Issues a Second Social Purpose Study with Deloitte - Casino Reports 29Aug
By Daniel Thompson 0 Comments
BCLC Issues a Second Social Purpose Study with Deloitte – Casino Reports

British Columbia Lottery Corporation's commitment to fusing its into its operations is once again on the cards. Recently, the Crown agency announced that it has again collaborated with for the compiling of a second social purpose . The aim of the report is to learn and share more lessons about best practices for companies on a similar track.

In order to compile the paper for the gambling provider in B.C., Deloitte interviewed 12 Canadian and international leaders to understand how their purpose informs the role of risk and internal audit functions in their operations. Also, Board members helped as advisors and contributors to the paper, offering their insights on the Crown's social purpose methods.

How Risk and Internal Audit Operate in Social Purpose Companies

The fruit of BCLC and Deloitte's study, the report How Risk and Internal Audit Operate in Social Purpose Companies, studies how risk and internal audit functions can become embedded to operationalize their company's social purpose. The paper provides seven key recommendations to the Crown, internal auditors, and risk managers, who wish to improve functions of internal audit and risk.

Organizations focused on a social purpose aim to integrate their mission into every aspect of their operations to provide additional value to their customers. Yet, this can be challenging without proper tools and perspective. While some have successfully integrated purpose into various business functions, others are still figuring out how to approach this, especially in areas like risk management and internal audit

Some of the recommendations from the paper include embedding purpose into decision-making frameworks. There is one recommendation elevating the advisory role of risk and internal audit, with another stating that companies should focus the risk and internal audit teams on stakeholder value creation. The full report can be found on the corporation's official website.

In its press release, BCLC also informed that on Wednesday, September 13, 2023, it will host a free, one-hour webinar where experts will discuss key topics and recommendations from its social purpose report. The event will take place from 10:30 through 11:30 a.m. PDT, and it will feature panellists from Deloitte and the Social Purpose Institute.

Latest from BCLC

Besides working on its social purpose initiative, BCLC is also constantly expanding its gambling operations. For instance, this month, the Crown corporation agreed to make its intellectual property Ruyi Baccarat™ available to land-based casinos across North America. The game will be supplied by the global gaming leader Light & Wonder, making it accessible to new crowds.

A month before that, BCLC announced a collaboration with Evolution, which is a provider of titles and a valued partner to the Crown. Via the agreement, the supplier launched two high-limit live tables for players in British Columbia, Manitoba, and Saskatchewan. The two games were VIP Blackjack and VIP Baccarat, which are now available to players in the said regions.

Source: “BCLC Collaborates with Deloitte for Second Social Purpose Study” BCLC, August 2023

#BCLC # #Social #Purpose #Study #Deloitte #Casino #

Bragg Gaming Group Welcomes Its New CEO - Casino Reports 29Aug
By Daniel Thompson 0 Comments
Bragg Gaming Group Welcomes Its New CEO – Casino Reports

has a new Chief Executive Officer to drive the company's ambitions forward. In a press release from this week, the supplier and aggregator of content reported that it had appointed Matevž Mazij as CEO. He is one of the company's largest stakeholders and founder of its Oryx Gaming subsidiary.

The company is one of the leaders in iGaming as it provides online and brick-and-mortar gaming operators with its proprietary and exclusive content and innovative tech. Via Bragg Studios, the firm delivers high-quality, data-driven, and impeccably crafted casino games from in-house brands such as Wild Streak Gaming, Spin Games, Atomic Lab, Indigo Magic and Oryx Gaming.

Elected to the Firm Forward

Mr. Mazij will assume the position effective immediately. As mentioned, he is the company's largest shareholder and the founder of Oryx Gaming, the firm's original PAM, aggregation and RGS gaming technology platforms. His appointment was made after a detailed evaluation was done by the Board to ensure optimal alignment of the best interests of the company and stakeholders.

Speaking on behalf of the Board of Directors, Holly Gagnon, Lead Independent Director of the Board, thanked the previous CEO, Yaniv Sherman for his leadership, commitment, and contributions to the provider. She added that the Board is committed to supporting the company's senior management which seeks profitable growth and the creation of new, sustainable shareholder value.

Furthermore, she shared that the Board is optimistic that Mr. Mazij, the founder and visionary of Oryx Gaming and his rich experience and understanding of the industry combined with the firm's senior leadership team will position the company on a path of success. She added that expectations are that the company will continue on its strategic objectives and serve well partners and customers.

Mr. Mazij also commented on his appointment. He is eager to return to an operational role and lead the company to continued top-line and cash-flow growth. He added that the company has the potential to extend its footprint across North America, and Europe, expanding the international and legal iGaming sector. He is now looking forward to starting his new role.

Latest Partnerships

Over the last couple of weeks, Bragg Gaming Group and signed and sealed some key partnerships to help it broaden its exposure. One of those was the launch of its iGaming content with bet365 in Ontario, Canada. Now, players have to hit titles such as Fairy Dust from Atomic Slot Lab and Seas of Plenty from Indigo Magic.

Prior to the bet365 collaboration, the company also announced that it had teamed up with Flutter Entertainment's PokerStars. Via the deal, the leading iGaming aggregator of games debuted its immense portfolio of iCasino titles to players of PokerStars. In Europe, the supplier expects to start off the roll-out with the brand in the coming weeks in the UK, Italy, Portugal, Spain, Denmark, and Sweden.

Source: “Bragg Gaming Group Appoints Matevž Mazij CEO” BusinessWire, August 28, 2023

#Bragg #Gaming #Group # #CEO #Casino #

BeyondPlay Gains Access to Ontario’s iGaming Space - Casino Reports 28Aug
By Daniel Thompson 0 Comments
BeyondPlay Gains Access to Ontario’s iGaming Space – Casino Reports

Yet another private iGaming supplier has now joined Ontario and its open market for online gambling and wagering. This time, announced that it has been granted a -related supplier license by the Alcohol and Gaming Commission of Ontario. The permit allows it to deliver its gaming services and content to operators running in the province.

In April 2022, the province became the first Canadian jurisdiction to allow private operators to offer legal iGaming to local players. Governed by and its subsidiary iGaming Ontario, the local sector attracted interest from some of the biggest names in the industry. In its first year, it generated over CA$35 billion in handle, placing in the top five in North America.

Another B2B Supplier Joins the Mix

Now, that BeyondPlay is a licensed gaming-related provider in the Province of Ontario, the company can ink B2B partnerships with betting operators who are also allowed to run in the iGaming sector. The supplier also announced that it will be launching its advanced content-agnostic Jackpot Management Software in Ontario during the fourth quarter of 2023.

Andrii Grygorovych, Head of Compliance at the gaming provider, said its team was honoured to be officially registered as a gambling software distributor in Ontario by AGCO. He said that it was a testament to the company's commitment to compliance and responsible gambling. After Ontario, the company plans on further expanding into North America by reaching new legal jurisdictions.

Via the license, the provider will be able to offer its cutting-edge multiplayer and jackpot products, with the latter allowing operators to produce exclusive in-house jackpots for their , live casino, and sports betting products. Currently, the developer is in possession of licenses from MGA, Sweden, and the UK, all achieved before its Ontario launch.

Provincial Market in Numbers

Recently, iGaming Ontario issued its quarterly report on the regulated online casino and sports betting market for the period between April 1 through June 30, 2023. In the first quarter of the FY, the province handled an online wagering volume of over CA$14 billion. This translated into CA$545 million in gaming revenue before tax.

At the end of the quarter, there were 46 operators online, which ran 71 gaming websites. There were 920k active player accounts, which had an average monthly spend of CA$197. Slots, live and computer-based table games and peer-to-peer bingo which accounted for nearly CA$11.6 billion or 83% of total wagers. With the rest split between sports betting and poker.

In the meantime, the iGaming sector continues to grow larger, as more and more operators make their debut. In July 2023, the province saw the launch of STX, which is the first sports betting exchange in the jurisdiction. Via the platform, players can place trades in the betting markets once both buyer and seller find a middle ground on their pricing.

Source: “BeyondPlay outlines next steps in North America after achieving ‘major milestone' in Ontario” Canadian Gaming Business, August 23, 2023

#BeyondPlay # # # #iGaming #Space #Casino #

Coney Island Casino Project Earns Community Backing - Casino Reports 28Aug
By Daniel Thompson 0 Comments
Coney Island Casino Project Earns Community Backing – Casino Reports

Initially opposed by some members of the public, a proposal for has now gained some support. According to a of companies who placed the bid for the , over 10,000 Brooklyn residents have signed a petition to back The Coney, which is a project aiming to launch a US$3 billion casino resort on the famous boardwalk.

The group behind the project consists of Thor Equities, the Chickasaw Nation, Legends Hospitality and Saratoga Casino Holdings. But in order to build one at the location, the group would need to obtain one of the three commercial gaming licenses for downstate New York. Currently, the Gaming Facility Location Board reviews applications.

Gaining More Community Support

Text from the petition read that “as a Southern Brooklyn resident, you support creating jobs and new economic growth by establishing a new casino and entertainment district.” It also said that the local community, families, and small businesses have been shortchanged and that they have been waiting for economic opportunities that this project will finally make a reality.

A few months ago, the gaming coalition reported that former NYC council member Robert Cornegy and others involved with the bid had knocked on more than 16,000 doors and collected 3,363 signatures at the time. After several months, the group collected another 6,700 signatures and Mr. Cornegy and the team behind the proposal are quite confident of the project's chances.

According to The Coney group, its gaming project would potentially generate 4,000 permanent gambling and hospitality jobs. Also, the group promises that there will be a local hiring preference, powered by local recruiting and job fairs within the Coney Island community. But it remains to be seen whether it is enough for the Empire State to place its bets on it.

Additionally, the Coney Island bid also touts detractors, as Community Board 13, composed of unsalaried members, serves in advisory and consultative roles on regarding land use and zoning. CB13 also took a vote and greenlit a resolution to oppose the project. Its reasoning behind the decision included crime traffic and other ancillary issues.

Opposition Faces Local Disapproval

It should also be mentioned that some of the Coney Island casino bid's competitors have faced local opposition, which boosts the project's chances. This includes a bid for Caesars Palace Times Square launched by SL Green, Caesars Entertainment and joined by Roc Nation. Still, their bid to develop a gaming property is considered among the leading proposals.

In addition to that, Las Vegas Sands which wants to bring an integrated casino resort at Nassau County on Long Island, also saw disapproval from locals. Trustees from Hofstra University sent an open letter about the proposed gaming project labelling it “entirely inappropriate.” The project is also opposed by a group titled, Say No to the Casino Civic Association.

Source: Danzis, David “Coney Island Casino Project Gaining Local Support, Group Says” PlayNY, August 25, 2023

#Coney #Island #Casino #Project #Earns #Community # #Casino #

FansUnite Makes Two Significant Announcements - Casino Reports 25Aug
By Daniel Thompson 0 Comments
FansUnite Makes Two Significant Announcements – Casino Reports

FansUnite Entertainment has made two important this week. The first one is that it has found an agreement with DragonBet to migrate off the Chameleon platform. This will be done on or around September 3, 2023. The second announcement was that its Chief Technology Officer, Jeremy Hutchings, will step down from the role.

As a global entertainment and gaming firm, FansUnite is concentrated on the regulated and legal sports affiliate market, by offering customer acquisition, retention, support and reactivation. The company gained massive popularity in North America via its subsidiary American Affiliate, an omni-channel customer acquisition company for sportsbooks, casinos, poker and fantasy sports platforms.

Latest from FansUnite

The migration of DragonBet's platform paired with the sale of the company's Chameleon source code to Betr Holdings, will finalize FansUnite's transition away from B2B platform licensing. As part of this, the company projects annualized cost savings of around CA$7.1 million, which will include reductions in salary and selling, general and administrative expenses.

The cuts in costs will be seen in the company's results once the transition of operations of the Chameleon Gaming platform is finalized. The company also projects to produce positive cash flow in Q4 of 2023, as a result of its strategic initiative to bolster fiscal efficiency. Now, the operator will focus on the affiliate segment, which earned CA$23M of its CA$27.3M revenue in FY 2022.

Additionally, the British Columbia-based firm reported that Mr. Hutchings will depart from his position as Chief Technology on September 30, 2023. He will look for other opportunities in response to the firm's new strategic focus on a more profitable affiliate vertical. Still, he will be available to provide consulting on the company's plans to monetize the source code of the Chameleon Gaming Platform.

Scott Burton, CEO of FansUnite, thanked Mr. Hutchings for his involvement as he had a massive role in the company's early days. The CEO looks forward to seeing him succeed in his new career path. He also noted that the firm is delighted to announce an agreement with DragonBet, allowing it to expand and enable it to reach approximately CA$7.1 million in cost-savings.

The B.C. gambling entertainment corporation recently issued its financial for the three- and six-month periods ending on June 30, 2023. The firm disclosed a total revenue of CA$5.3 million, which was a 14% improvement over the same quarter but in 2022. Gross margin reached CA$3.3 million or 62%. This was an impressive 70% increase in comparison to the CA$2 million or 41% from Q2 of 2022.

Licensed to Operate in Canada's Most Populous Province

It should be recalled that in March 2022, the company announced its official entry into Ontario's regulated market for third-party operators and suppliers. The firm is now a fully registered supplier of sports betting and internet gaming by the Alcohol and Gaming Commission of Ontario, allowing it to team up with other locally-licensed brands.

Source: “FansUnite Announces Migration of DragonBet and Departure of Chief Technology Officer” FansUnite Entertainment, August 24, 2023

#FansUnite # #Announcements # #

NY Congressman Says Ban on Sports Betting Ads is Stalling - Casino Reports 25Aug
By Daniel Thompson 0 Comments
NY Congressman Says Ban on Sports Betting Ads is Stalling – Casino Reports

Earlier this year, US Rep. Paul Tonko, D-20th introduced a bill that would induce a federal on advertisements nationwide. Fast-forwarding several months to now, and it seems that the legislation titled H.R. 967 has not gained much traction and the bill is no further along in Congress today than it was back at the start of the year.

His proposal came after the public and addiction experts shared their concerns about the increasing popularity of mobile sports betting and the related influx of betting commercials and endorsements. Despite launching in January 2022, the Empire State's market quickly surpassed New Jersey and Nevada in both handle and state tax revenue.

Bill Hasn't Progressed

When speaking at the Racing and Conference at Saratoga in August, Mr. Tonko explained that there is a need to battle aggressive strategies by sportsbook operators. Currently, several states are trying to deal with such marketing, and Mr. Tonko repeated that federal regulations are needed to address those gambling ads.

He further elaborated that his legislation would not be a straight bon on mobile sports betting, and instead, it targets predatory advertising that has coincided with a substantial increase in gambling addictions. His proposal was referred to the House of Energy and Commerce Committee, which he is a member of. The said committee has jurisdiction over healthcare at a federal level.

Upon the presentation of the Betting on Our Future Act, the lawmaker noted that sports gambling ads pose a particularly dangerous threat to adolescents and young adults who are unaware of the risks of gambling. But, currently, the status of the 's legislation is undecided. At this point, he remains the only sponsor of the February 2023 legislation.

Additionally, Mr. Tonko said that in the years the Supreme Court decriminalized sports wagering, these unregulated ads have become quite a problem, as betting companies pour billions into making sure that their ads reach every household in the U.S. That is why he believes that the uncensored and excessive promotions of betting sites must be put in check.

Market Continues to Grow

In the meantime, the Empire State's mobile sports betting market continues to grow, as in July 2023, the state celebrated reaching the critical milestone of US$25 billion in handled sports wagers online. This was done in less than 18 months, making NYS the quickest legal jurisdiction in the country to achieve the number.

On top of the increasing popularity of mobile sports wagers, lawmakers such as New York Sen. Joe Addabbo, are looking to introduce online play and internet lottery as a legal option. He said the CA$1 billion from mobile sports wagering for education was a monumental milestone. That is why the lawmaker urges for further expansion of the gaming offerings.

Source: Danzis, David “NY Congressman's Sports Betting Ad Ban Still Up In The Air” PlayNY, August 24, 2023

#Congressman #Ban #Sports #Betting #Ads # #Casino #