iBET ETF Insights: Nine months into 2022 and casinos in Nevada are already way ahead of lasts years revenue numbers. Analysts have stated that Nevada’s gaming industry is on track to not only beat, but shatter 2021’s $13.4 billion in revenue. The Las Vegas Strip is responsible for more than 55% of the total revenue reporting $693 million for September, over 8% higher than September 2021. A quote from Wells Fargo gaming analyst Daniel Politzer states, “For the third quarter, Strip gaming revenue was 1 percent up year-over-year and up 23 percent versus the third quarter of 2019.” The numbers are up but visitation is also up for Nevada as the state saw more than 3.35 million visitors, the third highest month this year. Sports betting in Nevada also almost broke a record receiving $70.6 million just shy of the $72 million record but still up 30.2% from 2021.

iBET ETF Insights: Ohio is getting closer and closer to their January 1, 2023 launch for online sports betting and operators are getting prepared. Caesars is leading the charge with the recent launch of their Caesars Sportsbook app allowing future bettors to pre-register and deposit their funds into accounts to be ready for launch day. There is also a special registration offer being provided for fans who pre-register for their app, adding another incentive for eager bettors. Caesars Digital President commented on the launch adding, “Ohio’s rich tradition of sports excellence speaks for itself. Caesars Sportsbook is ready to match the pedigree and passion of Ohio sports fans with a sports wagering experience that treats them like royalty.”

iBET ETF Insights: A survey from Fox Business showed that 60% of respondents who bet on the NCAA tournament did not fill out a bracket, with only 8% of bettors surveyed solely filling out a bracket. 49% of bettors surveyed said they were less interested in filling out brackets now that there is legalized online sports betting. Since last years tournament 29 million more Americans can wager from their home states, with many new up and coming markets this number will expand. The American gaming association predicted $3.1 billion in wagers this years tournament, with 76% of those bets placed outside of brackets.

iBET ETF Insights: BetMGM announced the launch of its online sports betting and Igaming platform in Ontario Canada. Ontario is the first international market for BetMGM and the 23rd overall for the operator. BetMGM CEO Adam Greenblatt said, “Today marks a significant milestone for BetMGM and a momentous occasion for sports fans and online players in Ontario” BetMGM has established relationships with legendary Canadian athletes, that are expected to appear in upcoming marketing for BetMGM.

iBET ETF Insights: Voters in the nation’s most populous state will get a chance to legalize sports betting in November. New York set a record with $2 billion in handles in the first month of launch, and it is expected that California will top this when legalization is finalized.