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

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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 at European Gaming Media
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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Sweden to Consider Online Casino Advertising Ban

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Sweden’s government is going to ban advertising by online casinos and other forms of gambling as it seeks to tackle a rise in addiction, sending shares in the sector lower.

At the start of the year, Sweden tightened the rules for gambling firms and called on the industry to put in place a code of conduct to protect vulnerable consumers. But measures have not gone far enough.

“There is scope for the commissioner to recommend a total or partial ban on gambling advertising,” Minister for Public Administration Ardalan Shekarabi said.

The commission’s remit will include looking at whether to treat advertising of online gambling in the same way as adverts for alcohol and tobacco, limits on advertising bonuses, jackpots and free-plays and whether to limit advertising during live sporting events such as football matches.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Sweden to Consider Online Casino Advertising Ban

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GambleAware Launches “No Bet Inn” in Liverpool as Part of Bet Regret Campaign

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GambleAware Launches “No Bet Inn” in Liverpool as Part of Bet Regret CampaignReading Time: 1 minute

 

GambleAware has Launched “No Bet Inn” in Liverpool as part of Bet Regret campaign. The Bet Regret campaign aims to give support for the young men aged 16–34 who gamble regularly. New research conducted for GambleAware revealed that 58% of 18–44 year-old male sports bettors agree that they make impulsive bets in the heat of the moment.

“Some of my fondest memories of playing football were with Liverpool, so it was great to have a chat with fellow fans and watch the current team play, and it was genuinely nice to watch a full match in the No Bet Inn without the distraction of a mobile in anyone’s hand. No checking Instagram, no updating Facebook and crucially, no betting in-play or whilst drinking. It’s crazy to see the number of fans placing ill-considered bets and regretting it afterwards, so it was great to remind people to think twice before betting, avoid Bet Regret and just enjoy the game,” Garcia, famous football player said.

Marc Etches, CEO of GambleAware, said: “We created the No Bet Inn as a demonstration of our Bet Regret campaign and to make football fans think hard about their betting habits. At the No Bet Inn, people could enjoy the game and avoid BetRegret. The is one part of a national campaign for safer gambling which launched in February to raise awareness of behaviours that people might not always recognise as impulsive or risky, such as sports betting when drunk, bored or chasing losses.”

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: GambleAware Launches “No Bet Inn” in Liverpool as Part of Bet Regret Campaign

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Nielsen Releases “Esports Playbook for Brands” 2019

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Nielsen, the US-based global information and measurement company, has released its 2019 “Esports Playbook for Brands.

According to Esports Playbook for Brands, non-gaming brand involvement in esports has increased by 13% over the past year. Mainstream brands outside of traditional video game brands are entering the space.

Nielsen points out that 90% of U.S. esports viewers on Twitch can name at least one non-gaming sponsor; 70% of U.S. Twitch users spend more time engaging with esports than they do with traditional sports.

“Esports fans respect and welcome those brands that embrace what they already love, and get the need for the revenue and exposure that sponsors, distributors, and content creators bring with them,” says Bobby Sharma, founding partner of the Esports advisory firm Electronic Sports Group, in the playbook.

“But they also know when they are being used as test subjects… and that is where things can go awry,” he adds.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Nielsen Releases “Esports Playbook for Brands” 2019

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