48 PUBLIC GAMING INTERNATIONAL • MAY/JUNE 2022 Ontario Sports Betting: Will new online bookies kill casinos? Commercial sports-books can now apply for license to compete with the government-owned Ontario Lottery and Gaming Corporation (OLG) for betting action in a market of nearly 15 million people. It's a first in Canada that's surely being watched by other provinces and territories eager to wrestle millions of dollars in bets away from the black-market operators that dominate the industry. Ontario's online gambling market is expected to generate $989 million in gross revenue in its first year, hitting $1.86 billion by 2026, according to research firm Vixio GamblingCompliance. Anticipation for Monday's launch has drawn interest from some of the biggest names in the global gambling industry, and spurred companies like Australia's PointsBet (PBH.AX) and FanDuel, owned by Ireland-based Flutter Entertainment (FLTR.L), to open offices in Toronto led by local corporate talent. According to iGaming Ontario's (iGO) website on Monday, 13 operators are registered with the Alcohol and Gaming Commission of Ontario and executed an operating agreement with iGO. At least 30 have applied for their iGaming registration. FanDuel, PointsBet, theScore, and Coolbet were among the brands that took to Twitter early Monday to announce their official launch in the province. Ontario Sports Betting: Esports on the Menu in Province’s New iGaming Market Ontario is set to host one of the biggest esports events in the world this year just months after the province makes legal sports betting — esports included — far more accessible. Esports Betting Officially Launches In NJ Caesars CEO expects online sports betting to deliver profit by 2023 end as company scales back marketing spend Expect Ohio Sports Betting To Be Fully Operational by Late Fall Sports Betting bills stall in Kentucky and Kansas West Virginia passes esports betting bill amendment to allow operators to accept wagers on esports events. Voters to decide fate of legalized sports betting in California, the market's 'crown jewel' California is not the final holdout among states deciding whether to legalize sports betting — but it is by far the largest, and a high-stakes battle to pass some form of legalized sports wagering is underway. The nation’s most populous state has yet to legalize any form of sports betting, but that could change in November, when two initiatives — that could change — are poised to be on the ballot. With California’s sports-enthusiastic population of 39 million trouncing that of the over 19 million in New York, legalizing online sports betting is expected to generate a taxable mother lode of riches. The online betting measure would earmark 85% of the online betting tax dollars for homelessness and mental health support, while 15% would go to tribes not participating in the marketplace. Preliminary estimates are that $500 million would be raised annually in California by applying the 10% tax on online sports betting, according to Nathan Click, a spokesman for Californians for Solutions to Homelessness and Mental Health Support, which supports the online betting measure. The New York sports betting market has stayed bullish for the fourth straight month, hitting over $1 billion in total handle in April At only four months old, New York is the biggest sports betting market in the US and shows no signs of slowing down. As of the last reporting date for the week ending on April 24, New York’s total handle had already hit $1.295 billion with another six days left in the month. The prior weeks in April averaged around $324 million each. In March, New York saw a total handle of $1.64 billion, total revenue of $114 million, and a tax contribution of $58 million. As a comparison, the next largest sports betting market – New Jersey – saw a total handle in March of $1.12 billion, which was an almost 14% increase from New Jersey’s February numbers. New Jersey’s revenue in March was $66.4 million, significantly less than New York’s, and its tax contribution was $8.6 million. Federal lawsuit challenges sports betting rule that gives exclusivity to Tribal interests Match-fixing suspected in French Open qualifier The whacky world of sports betting economics, politics, and regulatory policy-making. For example, DraftKings Q1 financial performance: Expenses of $933 against Revenues of $417 = $463 Loss Surrounded by states with legalized sports-betting, Massachusetts resident are crossing state lines to play Attorney General Maura Healey on Thursday voiced support for legalizing sports betting in Massachusetts Measure to allow sports betting and casino gambling in Georgia advances New York Mobile Sports Betting Nears $4 Billion Wagered After Just 10 Weeks Mobile sports betting expected to generate millions for Arkansas Sponsors say Alabama lottery, gambling bills probably dead this session WORLD NEWS World Lottery Association: Taking stock of 2021 – from digitalization to responsible gaming As work continued within the confines of the global pandemic, 2021 saw an increase in WLA virtual events that attracted over 1,500 participants from around the world. Most of the webinars were organized in cooperation with five regional associations. Making the most of the virtual format, the WLA successfully reached broader, more varied audiences with topics that continue to shape the global lotteries and sports betting communities. Industry leaders and experts shared insights into the latest retail and online marketing trends and technologies, such as artificial intelligence that can help vulnerable players, and delved into some of the key challenges faced when it comes to maintaining the transparency and integrity of legal betting operations. The WLA would like to thank the African Association of Lotteries (ALA), the Asia Pacific Lottery Association (APLA), the European Lotteries (EL), the Iberoamerican Corporation of Lotteries and Bets of State (CIBELAE), and the North American Association of State and Provincial Lotteries (NASPL) for their cooperaP U L S E
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