Kambi’s Network of Tribal Sports Wagering Allies Experiences 128% Growth in Sports Wagering Handle in 2023

Kambi Group Plc, a B2B supplier of sports wagering services to licensed B2C gambling operators, has published its second yearly Tribal Sports Wagering Report which includes exclusive information and insights from its increasing sports wagering network of tribal gaming operator clients across North America.

128% increase in sports wagering handle in 2023:

Since the revocation of the Professional and Amateur Sports Protection Act (PASPA), Kambi has officially become the selected sports wagering supplier for tribal operators across North America, with allies that involve Seneca Gaming Corporation, Mohegan Gaming & Entertainment and Forest County Potawatomi. However, Kambi’s network allies that mix online and retail sports wagering involve Soaring Eagle, Desert Diamond Casinos and Four Winds Casinos.

Relatedly, during the previous year, the wagering handle increased by 128% compared to 2022. The flagship wagering sport during the said year was American football, which collected 19% of the handle, after which came baseball, which collected 18%. A little bit over a third of wagers were put on football, 27% on basketball and 20% on baseball, individually.

Then there are same-game parlays, which generated 10% of every online and retail wager put during 2023, with basketball and football being the most sought-after sports for this kind of bet, garnering 10% and 5%, respectively.

Annual increase in on-site wagering on big sporting events:

According to the report, on-site wagering on big sporting events has also grown annually. In this regard, during 2023, the number of wagers and handles on the Super Bowl rose by 84% and 112%, respectively. Then, the number of wagers and handles on the 2023 NBA Playoffs rose by 145% and 99%, individually. Finally, the number of wagers and handles on the 2023 college basketball’s March Madness rose by 63% and 159%, individually.

Gambler loyalty to the firm’s platform also flourished in the previous year, with an additional 48% of punters going back to make a wager within twenty-eight days. Of the winning punters throughout the year, 77% of retail clients and 94% of online clients reinvested their money into multiple wagers within twenty-four hours.

Speaking on the subject, Kambi’s Vice President of Sales, David M. Bretnitz, commented according to CDC Gaming Reports: “Tribes have shown time and time again they know what it takes to launch successful casinos, and sports betting should be no different. Whether it is retail, online, or both, Kambi is committed to delivering the right experiences to attract US bettors and more importantly provide our tribal partners with the resources necessary to retain them long-term.”

As for the company’s revenue during the previous year, it amounted to $187.3m, which is an increase of 4.4% compared to the former year. But Kambi’s Chief Executive reviewed the past year and commented that he was “not satisfied” with the overall performance, expressing his worry over the loss of major client Penn Entertainment, bigger expenses and a decline in EBITDA.

Furthermore, the above-mentioned report was released before the 2024 Indian Gaming Tradeshow & Convention to be held in Anaheim, according to the official press release.

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• Source: https://news.worldcasinodirectory.com/kambis-network-of-tribal-sports-wagering-allies-experiences-128-growth-in-sports-wagering-handle-in-2023-112833