Many U.S. sportsbook operators are seeking to boost profits by weeding out winning customers. Bettors who show signs of savvy are being limited faster and more aggressively than in the past.
Sixteen states reported quarterly highs in overall gambling revenue, including five of the six largest markets: Indiana, Michigan, Nevada, New York and Pennsylvania.
There are six states–Connecticut, Delaware, Michigan, New Jersey, Pennsylvania and West Virginia–that offer the full spectrum of online gambling, from virtual slot machines to online card games. Nevada also allows online gambling but limits it to online poker.
Indiana could earn between $341 million and $943 million in taxes from iGaming over three years, depending on the rate adopted.
Indiana’s 12 casinos raked in $2.5 billion from July 2021 through June 2022, according to the Indiana Gaming Commission’s annual report.
Charitable gambling—once a juggernaut in Indiana—has declined in recent years due to the challenges navigating the COVID-19 pandemic and its ensuing supply chain disruptions and inflation, with many organizations closing down completely.
A nationwide investigation of state lotteries by the Howard Center for Investigative Journalism at the University of Maryland found that lottery retailers are disproportionately clustered in lower-income communities in nearly every state.
Despite growing approval, 71% of Americans say they are “very” or “somewhat” concerned that the increasing availability of sports betting will lead to more people becoming addicted to gambling.
This spring’s decline in casino earnings largely tracks with the nation’s soaring inflation rate and the end of various federal COVID-19 relief and economic stimulus programs aimed at shoring up the post-pandemic economy.
The lounge is part of a larger agreement between the gambling company and Indianapolis Motor Speedway that makes Caesars the official sports betting partner of the racetrack and the Indy 500.
In just four years, the industry has worked itself into the daily lives of millions of Americans—from those who plunk down money hoping for a certain outcome to those who watch TV broadcasts with odds calculations to those struggling with gambling problems.
The casinos collectively also had their best first quarter ever, falling just short of the $14.35 billion they won from gamblers in the fourth quarter of last year, which was the highest three-month period in history.
The expansion will add 30,000 square feet to the gambling floor and 100 jobs at the venue, plus additional slot machines and table games.
The American Gaming Association predicted that $3.1 billion will be wagered on this year’s tournament, a figure that includes legal bets as well as those placed with illegal bookies or offshore web sites.
Indiana’s governor is supporting the Hoosier Lottery’s consideration of starting online games or ticket sales while state legislators are looking to have their say on whether those will be allowed.
Sporttrade Inc. offers users a betting exchange through which they can trade sports bets as if they were stocks.
Caesars Entertainment Inc. on Tuesday changed the name of the venue from Indiana Grand Racing & Casino to Horseshoe Indianapolis Racing & Casino.
Indiana lawmakers are looking to block the Hoosier Lottery from starting online games or ticket sales without their permission.
The American Gaming Association forecasts that over $7.6 billion will be wagered on pro football’s championship game set for Sunday.
Kentucky-based Churchill Downs Inc. has filed to rezone nearly 50 acres near Interstate 70 and State Road 46 to build the Queen of Terre Haute Resort.
