GeoComply announced that more than 100M geolocation checks were processed Saturday and Sunday on mobile sports betting apps across 23 states with the Super Bowl the main event of the weekend. The geolocation-tracking firm registered 7.4M accounts over the weekend, which was up 32% from a year ago. The data read is considered a strong indicators sports betting volume will hold up in 2023.
Amid heightened competition, Nevada sportsbooks took in $153.2M in Super Bowl bets to fall well short of last year’s record tally. Nevada sportsbooks held 7.4% of all wagers from betting on the game to collecting $11.3M, indicated to be the lowest total since 2019. Nevada Gaming Control board senior economic analyst Michael Lawton said many sportsbook operators expected Nevada lost some betting action to Arizona, which was the first state ever to host the Super Bowl with legal sports betting in place. Looking ahead, Eilers & Krejcik Gaming consultant Chris Grove thinks Nevada’s sportsbooks could see $200M in wagers on the Super Bowl in 2024 when it is in Las Vegas.
Macquarie analyst said Chad Beynon the overall above-average Super Bowl hold rate for online sports betting sites sets up DraftKings (DKNG) and Rush Street Interactive (RSI) to issue stronger-than-anticipated guidance alongside their upcoming earnings reports.
On the flip side, a company that fumbled the big game was Caesars Entertainment’s (CZR) William Hill U.S., which had a devastating systems outage during the second quarter. The outage did impact the Caesars Sportsbook, but could come into play with Q1 guidance from the Las Vegas-based company.
Sports betting/iGaming plays: DraftKings (DKNG), FanDuel/Flutter Entertainment (OTCPK:PDYPY), Caesars Entertainment (CZR), Penn National Gaming (PENN), Wynn Resorts (WYNN), MGM Resorts (MGM), Entain (OTCPK:GMVHF), PointsBet (OTCQX:PBTHF), GAN (GAN), fuboTV (FUBO), Churchill Downs (CHDN), International Game Technology (IGT), Skillz (SKLZ), Bally’s (BALY), Golden Matrix Group (GMGI), Bragg Gaming Group (BRAG), Elys Game Technology (ELYS), Paysafe (PSFE), Playtech (OTCPK:PYTCF), Esports Entertainment (GMBL), Sportradar (SRAD), Genius Sports (GENI), Gambling.com (GAMB) and Boyd Gaming (BYD).
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Super Bowl sports betting winners and losers
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