In this month's edition of 'The Operator's Edge' webinar series, Chalkline CEO Daniel Kustelski provided his annual recap of the gaming industry, as well as his predictions for the coming year.
Check out the top takeaways from the webinar below or - better yet - watch the on-demand webinar: Top 10 2023 Gaming Industry Highlights and Three Fearless Predictions for 2024.
10. Responsible Gaming Progress
In 2023, the National Council on Problem Gambling (NCPG) created a 24-hour gambling helpline for people across the country.
It was a huge development for the industry, simplifying the process for consumers to get help and operators to offer support.
9. New Market Entrant with a Big Customer Base: Fanatics
Fanatics, a company with a large existing customer base, made a big splash into the market this year.
While it’s a bit early to see the results, it’ll be interesting to follow the company’s journey in 2024.
8. Big US States Coming Online (But California Sports Betting Fight Continues with No Winners)
From Florida to Ohio to Massachusetts, some big states came online this year, making a massive impact on the national gross gaming revenue (GGR).
One notable exception? California, which is stuck in an ongoing battle over legalization.
7. Record Revenues Across The Industry (Including Tribal Casinos)
For table games and slots, every quarter in 2023 was a record-breaking one – and it looks like it’ll be the same in Q4.
6. Industry Conferences Have Record Years
We saw impressive attendee numbers at some of the year’s biggest conferences, including G2E, IGA, and OIGA.
It’s encouraging to see this bounce back in the industry, with people coming together again to learn and network.
5. Digitization and Gamification of Casino Loyalty Programs
More casino loyalty programs went digital this year with the integration of casino apps and social media.
Apps like PENN Play are an effective avenue for casinos to keep engaging with patrons – even when they’re not on property – and encourage future retail visits.
4. Impact of Sports Betting on Casino Loyalty Programs
Similarly, sports betting had a major impact on casino loyalty programs, attracting significant numbers of new players.
But it’s not just about volume; sports betting consistently brings in higher-value customers and drives better ROI for casinos.
3. PENN, Barstool & ESPN Bet
Dave Portnoy’s decision to buy back Barstool Sports from PENN Entertainment was an interesting update in the sports betting landscape this year.
Just as notable? PENN’s new $1.5 billion partnership with ESPN.
2. Daily Fantasy / Sports Betting Day of Reckoning
Right now, there’s a lot of talk about which sports betting products are legal in each state – with daily fantasy sports (DFS) at the center of the conversation.
We expect the discussions around these types of products to carry into 2024.
1. Year of the Parlay: Handle and Margins Continued Growth
Across the country, parlays made up a significant portion of handle and GGR in 2023.
In Indiana, parlays accounted for 32% of handle; they also made up 60% of bets in Illinois.
3 Fearless Predictions for 2024
So, what’s next in gaming? Here are Daniel’s three fearless predictions for 2024:
- Online and sports GGR will hit 33% of total gaming revenues
- Two top-20 sports operators will leave the US
- 41 states will have legal sports betting by the end of 2024
Connect with Chalkline
Watch the webinar replay for a more in-depth discussion of the last year in gaming.
You can also browse all of the webinars in 'The Operator's Edge' series from Chalkline.
Set up a live conversation with Daniel to discuss how Chalkline can help your sportsbook attract new bettors and increase profits.
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