Caesars Sportsbook & Casino’s Post

🚨 Major Shifts at Hard Rock Sportsbook 🚨 These changes below reflect the evolving landscape of the U.S. gambling sector. With shifts in ownership, legal frameworks, and consumer preferences, companies like Hard Rock Digital are adapting swiftly. 📊 🎲 Iowa Sees Digital Shutdown: Hard Rock Sportsbook Iowa is undergoing a significant change. The digital sportsbook is closing down, but the Hard Rock Hotel & Casino in Sioux City will keep the excitement going with in-person bets. A strategic move following a change in ownership. 🔄 🌞 Florida Welcomes Back Online Betting: In a positive turn of events, Florida's gambling scene gets a boost. The Hard Rock Bet app makes a much-anticipated return, offering early access to previous users. It's a savvy move amidst ongoing legal challenges and market dynamics. 📲💼 Read more here: https://lnkd.in/d_63NcMs #gambling #betting #sportsbook #florida

With the Super Bowl this weekend I'm sure there will be some bad actors wagering. Creating a user friendly secure onboarding process is crucial for online sports books to capture market share. Whether you are collecting IDs at player onboarding or withdrawal IDVerse - An OCR Labs Company has you covered. Stop dealing with chargeback, bonus abuse, and bad actors by ensuring players are authentic and of age. IDVerse's fully automated approach allows you to scale for large volumes reducing the time it takes to get players playing while giving you a binary yes/no answer of if the player is risky. We pride ourselves on delivering an exceptional player experience and have partnered with leaders in the space to be able to deliver it. Reach out if you'd like to learn more about how we can help. Stats from American Gaming Association infographic: - 26% of American adults (~67.8 Million) are expected to bet on Super Bowl LVIII. 35% increase from 2023 - Estimated wager is $23.1 Billion up 44% from 2023's $16 Billion - 46% plan to place bets online = ~31.1 Million American adults #idverification #igaming #fraudprevention #riskmitigation #superbowl #sportsbetting #digitaltransformation #IDVerse

PENN Entertainment, Inc has set its sights on the lucrative New York market with a recent strategic move. The company announced a significant agreement with Wynn Interactive Holdings, marking a pivotal step towards acquiring mobile sports wagering licenses for New York market access. The deal, valued at $25 million, entails PENN obtaining WSI US, LLC from Wynn Interactive Holdings. This subsidiary holds the coveted mobile sports wagering licenses previously granted by the New York State Gaming Commission in 2021. Pending regulatory approvals, this arrangement positions PENN to debut its online sports betting platform,ESPN BET, in New York by the end of 2024. Jay Snowden, CEO and president of PENN Entertainment, emphasized the importance of this development, highlighting the significance of entering the largest regulated online sports wagering market in North America. Read the full article ➡ https://lnkd.in/eqACyUH8 #northamerica #usa #gambling #gamblingnews #business #b2b #sports

#PENNEntertainment Inc’s ESPN Bet is dominating initial download activity and charts, proving it is cutting through to customers, according to BofA Securities analysts.  In a note to clients, they upgraded shares of the integrated entertainment, sports content, and casino gaming experiences company to ‘Buy’ from ‘Neutral’ and raised their price objective to $30 from $27, implying 22% upside from Friday’s closing price.  "We think ESPN Bet creates an asymmetric risk-reward, with 1) initial download and app activity much stronger than anticipated, 2) initial offers showing promotional discipline, and 3) stable Q3 earnings being better than expected for PENN's core gaming business," the analysts wrote.   They added that ESPN Bet has been #1 or #2 of all free apps on the iOS store since last Tuesday, with 865,000 cumulative downloads and a 4.8 app store rating, even without data from NFL Sunday.  More at #Proactive #ProactiveInvestors http://ow.ly/qac51052CeA

The Professional and Amateur Sports Protection Act of 1992, known as PASPA, was a federal law that limited sports betting to just four states: Oregon, Delaware, Montana, and Nevada. However, this changed on May 14, 2018 when PASPA was overturned allowing each state to decide whether to legalize in-person and/or online sports betting within their borders. Shortly after this significant event, the Santa Ana Star Casino Hotel introduced New Mexico's first sportsbook. The initial setup of this deliberately compact sportsbook was a trial to gauge their patrons’ interest in sports betting. Fast forward to June 2023, and the Santa Ana Star Casino has taken a substantial leap forward by launching a cutting-edge sportsbook called "Legends." The Legends sportsbook offers multiple features to enhance the experience for patrons. This includes 13 large screen TVs displaying various sports events, a striking 35-foot-wide video wall that can show multiple games simultaneously or focus on a single match, and a pair of real-time sports tickers delivering live scores, scoring plays, odds, licensed news, and more to create an engaging and lively environment. Legends caters to its patrons with convenient amenities, such as user-friendly betting kiosks, manned ticket counters, and a knowledgeable staff available to assist with placing bets and addressing inquiries. Additionally, to ensure a well-rounded experience, Legends provides excellent food and beverage choices. What more can I say except, Legends looks great, and we wish Santa Ana Star all the best with the new book! #iCandy #Sportsbook #SportsTicker #LEDTicker #VideoTicker https://lnkd.in/edNwhQdP

US Sports Betting Market Set for Explosive Growth JPMorgan predicts a massive surge in the US sports betting market, reaching a staggering $9.2 billion by 2025. This growth is fueled by: State legalization: More states are embracing sports betting, expanding the market reach. Live broadcast integration: Betting seamlessly woven into broadcasts boosts fan engagement. Mobile betting rise: Convenient mobile platforms make participation easier than ever. Exciting times for the sports & entertainment industry!

According to research from the American Gaming Association (AGA), a record 68 million American adults (or 26% of the adult population) plan to bet on Super Bowl LVIII, marking a +35% increase from last year. Those 68 million bettors are expected to wager $23.1 billion, up +44% from $16 billion last year. By medium, nearly half (46%) of the Super Bowl LVIII bettors are expected to place bets online, well ahead of the 15% for retail sportsbooks (i.e., physical, in-person betting). Crucially, among those who plan to bet online, 28.7 million adults (or 11% of the US adult population) plan to place wagers using a legal U.S. online sportsbook.

🎲 Potentially big news for sports betting in Washington, D.C.!   🏛️ At the recent D.C. Council’s Committee on Business and Economic Development meeting, some game-changing ideas were on the table for the District’s sports betting market in 2024. 🔄   The D.C. Lottery suggested shaking things up by proposing that GambetDC no longer be the primary sports betting app with the most online access in the District. 📲   📝 GambetDC has had some struggles in the past, including crashing during the 2022 Super Bowl, and D.C. bettors have expressed their frustrations at its performance.   To improve reliability and service, they're considering extending their contract with third-provider Intralot, with the operator subcontracting a private operator like BetMGM, Caesars Sportsbook, or FanDuel - all already having a retail presence in D.C. - to run the District’s main sports betting app. 🤔   🦆 This is similar to Oregon, whose state lottery ran a state-owned Scoreboard sportsbook until January 2022, when DraftKings was subcontracted to provide the service.   Currently, BetMGM and Caesars Sportsbook are limited to a two-block mobile access radius around their retail sportsbooks, while GambetDC has district-wide access. 📍   Representatives from major sportsbooks like DraftKings and Fanatics Sportsbook suggested opening up D.C.’s mobile market to multiple operators for a better bettor experience and higher tax revenue. 💰   With neighboring Maryland and Virginia’s sports betting markets evolving, what works best for D.C. might be changing too. 🗺️   What do you think would be the best model for D.C. sports betting, and have you had experience with GambetDC? Let us know in the comments ⬇️   🤷♂️ #SportsBetting #GambetDC #Intralot #BetMGM #CaesarsSportsbook #FanDuel #DraftKings  

🤔 Understanding the 24.6% Decrease in New Hampshire's January Sports Betting Revenue 📉 🏆 After the New Hampshire Lottery and DraftKings Inc. jointly celebrated four years of legalized sports betting in New Hampshire, the Lottery acknowledged a noteworthy downturn in sports betting activities in January. 💸 The handle for the month amounted to $73.3 million, showing a 24.6% decrease compared to January 2023's $97.2 million and a 7% drop from December's $78.8 million handle. 💰 The gross gaming revenue for January stood at $9.8 million, marking a 20.3% decrease from the record-setting $12.3 million in January 2023 but still showing a notable 27.3% increase from December's $7.7 million. 🔗 Learn more in Ziv (Steve) Chen's article for CDC Gaming Reports here: https://lnkd.in/dfyKGB8Q #NewHampshireSportsBetting #NHSportsBetting #SportsBetting

🚀 Why Player Retention is Key to Sports Betting Profitability In the evolving landscape of sports betting, retaining players is becoming more crucial than ever. With acquisition costs on the rise, a slight 5% improvement in retention rates can lead to a significant 25% increase in profits. 🔑 Here are some numbers: - 52% of bettors make more than two deposits, but loyalty wanes quickly. - Only 4% remain committed to a single platform for more than a year. - For example, in the first 3 months of legal sports wagering in New York, bettors switched between an average of 3 different apps despite extensive marketing efforts. As market conditions toughen and consumer spending tightens, the focus has pivoted from acquiring new users to retaining existing ones. Personalized experiences and loyalty rewards are now essential to keep players engaged and discourage platform switching. 🚀 Online sportsbooks are rethinking their strategies, shifting from widespread acquisition campaigns to targeted retention efforts, ensuring long-term engagement and profitability.