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Improving Legal Infrastructure Helps Expand Online Betting Possibilities


News provided by

FinancialBuzz.com

03 Dec, 2020, 14:00 GMT

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FinancialBuzz.com News Commentary

NEW YORK, Dec. 3, 2020 /PRNewswire/ -- As the legal infrastructure becomes friendlier towards online gambling, many companies in the gambling industry are beginning to offer more betting options. In the United States, there are a several of states that offer online casino gaming services, including New Jersey, Pennsylvania, West Virginia, and Delaware. Michigan also just recently passed legislation which will allow it to launch similar services, Shared reports. And while some states lead, others follow. New Jersey proved to be very successful after the first year legalizing online gambling, recording a substantial increase in state revenue. Following New Jersey's example, "many states have introduced bills that would regulate gambling online, including sports betting and online casino games… Some of these will have their laws approved quickly and may be able to be up and running by the end of 2020 while others will be launching their platforms in 2021," according to Canyon News.

Two major segments of the online gambling industry are online gaming (i-gaming) and sports betting. Online gaming, in particular, has proved to be a pandemic proof segment. An increasing number of online events with large prize pools are expected to create new opportunities for players and betters alike. As for sports betting, the segment has also benefited from a continuously improving and friendlier legal infrastructure. For example, a report by the Chicago Sun-Times indicates that New Jersey gamblers set a nationwide record for the most money bet on sports in a single month, spending almost USD 668 Million in August on events including resurgent baseball, basketball and hockey seasons that had been interrupted by the outbreak. As a result of the evident spike in demand, Morgan Stanley reported that it now projects that the domestic sports betting industry will reach revenues of about USD 7 Billion by 2025, a major increase from the USD 5 Billion projected in June 2018 and reiterated last December, Casino.org reports.

Bragg Gaming Group Inc. (OTCQX: BRGGF) (TSX-V: BRAG) announced yesterday news that ORYX Gaming, a Bragg Gaming Group company, "will be sponsoring this year's virtual edition of the prestigious World Gaming Executive Summit (WGES).

Hosted on December 8-9th, the digital edition of one of Europe's most exclusive iGaming conferences will see executives from around the world attend two days of live panel debates, roundtables, presentations and networking events.

In addition to being a Silver sponsor of the event, three senior members of ORYX will join industry colleagues on panels to discuss a number of exciting topics over the two days. ORYX Gaming's Managing Director, Matevž Mazij, will take part in a panel discussion on how to get to know customers in order to offer what they need. Primož Blazinšek, Head of Operational Marketing, will talk about prioritizing the first-time player experience; while Jovana Popovič, Director of BU iGaming Platform & Services, will talk about customer profiling and retention.

'We are proud sponsors of the virtual edition of the WGES, an event well-known in the industry to attract executives from across the sector and for being a focal point for stimulating and interesting conversations about a wide range of topics,' stated Matevz Mazij, Managing Director of ORYX Gaming. 'We look forward to playing a major role in the event and to seeing new and familiar faces during the event.'

About Bragg Gaming Group - Bragg Gaming Group Inc. is an innovative B2B online gaming solution provider. Leveraging their industry-leading technology, it offers a turnkey solution, including an omni-channel retail, online and mobile iGaming platform, as well as advanced casino content aggregator, sportsbook, lottery, marketing and operational services. Renowned for its rapid and seamless integration, its content aggregator combines casino, slots, live dealer, lottery, virtual sports and instant-win game content from top tier gaming content providers, along with proprietary content, and is fully compliant with major regulated jurisdictions."

DraftKings Inc. (NASDAQ: DKNG) announced earlier this week a new deal, making the sports technology and entertainment company the exclusive Official Daily Fantasy Sports Partner, as well as an Official Sports Betting and iGaming Partner of the NBA team. In addition to access to Pistons trademarks and logos, the deal includes DraftKings-branded courtside LED signage and in-game basket pad branding. The agreement comes as DraftKings prepares to launch mobile sports betting and online gaming in the state of Michigan, pending licensure and the receipt of necessary regulatory approvals. "As our first professional team activation in the state of Michigan, we are thrilled to join forces with the Detroit Pistons ahead of our pending market introduction," said Ezra Kucharz, Chief Business Officer, DraftKings. "This deal deepens our relationship with a prominent local team to facilitate more immersive fan experiences, both for Michiganders familiar with regulated gaming products as well as newcomers to the space."

Caesars Entertainment, Inc. (NASDAQ: CZR) announced earlier in September that it had entered into a multi-year agreement with ESPN. The new deal includes link integrations from ESPN's digital platforms to sportsbooks from Caesars Entertainment's sports betting partner, William Hill. William Hill Sports Book's odds and markets connect directly to their sports betting apps in legalized states. The deal comes shortly after William Hill became the exclusive sports betting operator for Caesars Entertainment, following the merger with Eldorado Resorts. Link integrations to William Hill's sports betting apps, geo-targeted to legalized sports betting states, will appear on ESPN.com web and mobile web and the ESPN Fantasy app. As part of the new agreement, Caesars Sportsbook by William Hill will also become a sponsor of ESPN's Fantasy products, deepening an existing relationship as ESPN's exclusive odds provider.

Las Vegas Sands Corp. (NYSE: LVS) announced last year that five-time Major Champion Phil Mickelson and rising star Li Haotong will be the company's guests in Macao on October 21. The visit will be highlighted by a youth clinic conducted by the two golfers. The trip will be first visit to Macao for Mickelson, the World Golf Hall of Famer. "We are excited to have Phil and Haotong in Macao and look forward to them interacting with our guests and the local community," said Rob Goldstein, the company's president and chief operating officer. "This is yet another opportunity to put a spotlight on Macao as a world-class leisure and business tourism destination. Phil Mickelson has a tremendous international following and Haotong's popularity is only going to continue to rise, especially as he plays in events like the 2019 President's Cup later this year. It will be great to have them both in Macao." This event is just one example of Las Vegas Sands role in bringing world-class sporting events and professional athletes to Macao. Sands has demonstrated its commitment to increasing access to opportunities for young people in Macao through its partnerships with ambassadors like British football icon David Beckham.

Boyd Gaming Corporation (NYSE: BYD) and FanDuel Group announced in September the debut of the FanDuel Par-A-Dice Sportsbook in the state of Illinois. Sports bettors across the state of Illinois now have access to FanDuel's industry-leading online and mobile sports-betting platform, with wagering options available in professional football, basketball, baseball, hockey and more.  Additionally, FanDuel will operate a retail sportsbook located at Boyd Gaming's Par-A-Dice Casino in East Peoria, Illinois, pending regulatory approval. Keith Smith, President and Chief Executive Officer of Boyd Gaming, said: "Given the tremendous success of our existing FanDuel Sportsbooks, we are confident that the FanDuel Par-A-Dice Sportsbook will quickly become Illinois sports bettors' mobile app of choice.  We are excited for the opportunity to offer both mobile and retail sports betting in one of the most populous states in the country, as we continue to expand our strategic partnership with FanDuel Group."

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About FinancialBuzz.com 

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. FinancialBuzz.com has not been compensated directly by any of the companies mentioned here in this editorial unless mentioned otherwise. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For bragg gaming group inc. video production, filming editing, news reporting, financial and corporate news dissemination, FinancialBuzz.com has been compensated five thousand dollars by marketjar media inc. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com

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