PYTCF - Super Bowl sports betting volume dazzles on strong hold rates

Morgan Stanley says sports betting tallies were even stronger than anticipated for the Super Bowl. New Jersey betting volume was up 115% Y/Y to $117M, with a strong hold rate of 9.6%. Pennsylvania betting volume increased 74% to $54M, with an even strong hold rate of 17.5%.Illinois betting volume came in at $46M, with a 17% hold rate. Iowa betting volume more than doubled to $16.2M from $6.5M a year ago. Perhaps the biggest surprise of all was Nevada, where volume only fell 12% from last year despite the pandemic restrictions in place and reduced amount of traffic to the gambling center. The Nevada Gaming Control Board reports the 9.2% in winnings for the 184 sports books in the state is the fourth-highest during the last ten years. Bragg Gaming Group (BRGGF) estimates more than 7.3M bets were placed online this year, up 63% from a year ago.Investments touching the

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Super Bowl sports betting volume dazzles on strong hold rates