As of now, it is unclear who will acquire PointsBet Sportsbook or for how much. The company has hired investment bank Moelis & Co. to help expedite its exit from the North American sports betting market. PointsBet offers a New York sports betting license and market access across several supply-constrained states, which makes it an attractive opportunity for potential acquirers. Potential candidates for a sale are tough to sort through, but Bally’s and DraftKings could be in the market depending on the price. WynnBet previously wanted $500 million for their online sports betting business, and PointsBet’s proprietary technology and parlay-rich systems could launch its sale price higher. However, the uncertain waters of the market’s growth to maturity and the tech bubble’s mini pop may lead […]

Legalized sports betting has become a new revenue source for states and professional sports leagues in the USA. Currently, 34 states and Washington D.C. have legalized sports betting in some capacity, with each state having the power to create its own rules. As for the states that have the most money wagered to date, New Jersey leads with $34,809,904,819, followed by Nevada with $30,468,330,042, New York with $19,924,968,057, Pennsylvania with $19,664,446,791, and Illinois with $18,655,587,885. However, in terms of monthly sports betting revenue generated, New York leads with $149,224,901 (November 2022), followed by Illinois, New Jersey, Virginia, and Arizona. The popularity of sports betting in these states has generated a significant amount of new money, and it is hoped that other states will legalize sports […]

Online gambling revenue in New Jersey reached a new high in March, with online casinos and poker generating $165.7m, an increase of 8.4% from the previous monthly high of $152.8m in January. Year-on-year, revenue in March 2023 was up by 17.8% compared to the same month in 2022, with online gambling generating $461.2m in the first quarter of 2023, a 12.9% increase from the same period in 2022. According to data from the NJ Division of Gaming Enforcement, online gambling revenue accounted for 38% of March’s total gambling revenue reported by Atlantic City casinos and their digital partners. State gaming regulators do not separate out individual online gambling operators, so determining revenue from specific websites or mobile apps is not possible.