Category: Sports Betting & Gaming News

49 posts

iBET ETF Insights: As inflation continues to be a rising topic among gas, food, and airfare you would think its impacting the casino industry but that would be incorrect. A survey from PlayUSA asked 600 adults how inflation has impacted their gambling ability and based on the results it may be somewhat reducing their spending budget but it’s not holding them back from going to casinos. The numbers show that 42% of bettors said their gaming frequency was unchanged when compared to the last six months and 35% said they’re gambling at the same rate as before Covid-19. Casino revenue numbers from the Pennsylvania Gaming Control Board show that revenue in October 2022 grew 10% when compared to May 2022 and the October numbers posted record gaming numbers for the state. Overall the consensus seems that gambling is somewhat “inflation proof” as bettors will continue to play even though they may be reducing their limits.

iBET ETF Insights: The NFL has just announced a new partnership with Google for what may be the largest deal in NFL history. The multi-year agreement made between the two will allow Google to use its YouTube TV and YouTube Primetime Channels to exclusively distribute NFL Sunday Ticket. The deal comes in an effort to make Sunday football more accessible to wider audience as up until now DirectTV has been the sole sponsor of the NFL’s staple Sunday Ticket package. A quote from NFL Commissioner Roger Goodell states, “We’re excited to bring NFL Sunday Ticket to Youtube TV and YouTube Primetime Channels and usher in a new era of how fans across the United States watch and follow the NFL… For a number of years we have been focused on increased digital distribution of our games and this partnership is yet another example of us looking towards and building the next generation of NFL fans.” YouTube has always been a good stream of viewership for the NFL as many users watch live games and highlights as well as keeping up with their team. The plan will go into effect at the start of the 2023 NFL season and plans to show all out-of-market Sunday games during the regular season.

iBET ETF Insights: The reports for each mobile sports betting operator show combined gross gaming revenue (GGR) of $148.2 million, an increase on the $145.7 million monthly record set in October. FanDuel tops the New York sports betting market with revenues of $78.3 million. #2 DraftKings accepted $498.7 million in wagers generating $42.3 million in revenue and Caesars did $200.3 million in wagers to post GGR of $14.9 million.

Stocks Impacted: FLTR, DKNG, CZR, MGM

iBET ETF Insights: Macau has just announced that as of now, foreign residents will no longer have to quarantine when visiting hotels. This means that any visitors from outside mainland China will now be able to freely visit one of the largest gaming hubs in the world again. Visitors will still have to quarantine for five days in their own home but the change is a step in the right direction for Macau moving forward against Covid-19 which has been impacting them for years. A quote from Francis Lui from Galaxy Entertainment Group states, “our clients understand that 5+3 is not a favorable measure for them to come to Macau. Therefore, we will see when entrance measures for Macau will be improved. We believe that these measures could be lifted very soon, as the pandemic has stabilized.” This new initiative from Macau shows that the country is pulling away from their restrictions and that in-turn will help to boost tourist and gaming numbers.

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