Legacy bingo and online casino brand owned by Bally’s Corporation and operated by Gamesys Operations Limited, Jackpotjoy, has strategically positioned itself to capitalize on the excitement surrounding the UEFA Euro 2024 by launching a sportsbook. This expansion marks the brand’s first foray into the sports betting arena since its inception in 2002.

Jackpotjoy Expands into Sports Betting Ahead of UEFA Euro 2024

A New Era: Introducing Sports Betting

Jackpotjoy has announced the addition of a sportsbook to both its website and mobile apps, specifically targeting UK consumers. This new feature, powered by Kambi, offers a comprehensive and user-friendly sports betting experience.

Accessing the Sportsbook Feature

Desktop Access:

• Users can easily access the sportsbook by clicking on the dedicated “Sports” tab located at the top of the Jackpotjoy homepage.

Mobile Access:

• The sportsbook can also be accessed via iOS and Android apps. The corresponding icons for the sportsbook are conveniently placed at the bottom of the screen, ensuring seamless navigation for mobile users.

In-Play and Pre-Match Betting Options

Jackpotjoy’s sportsbook provides a wide array of in-play and pre-match betting options. Users can consult the supplier’s extensive menu to familiarize themselves with all available betting opportunities. This feature includes a series of bet builders and pre-packaged accumulators, designed to enhance the betting experience ahead of major events such as the Euro 2024, Copa America (starting June 20), and the Paris Olympics (beginning July 26).

Strategic Cross-Selling to Boost Revenue

The introduction of the sportsbook is a strategic move by Jackpotjoy to cross-sell existing customers into sports betting, thereby generating a higher revenue stream. The busy sports calendar is perfectly timed to attract a significant number of bettors, ensuring that the brand capitalizes on high-profile events to maximize engagement and profitability.

Bally’s Brand Introduction to the UK Market

This product expansion could herald the introduction of sports betting to the UK market via Bally’s brand. In a recent earnings call, Bally’s CEO Robeson Reeves highlighted the “exceptionally” strong performance of the UK market, describing it as their “most robust market.” This endorsement underscores the strategic importance of the UK in Bally’s overall growth strategy.

Historical Context and Market Performance

2023 Milestones:

• Bally’s online casino, Bally Casino, was launched to UK consumers, achieving record-high revenue by year-end. This success followed the migration from its predecessor, Megaways Casino.

Market Share Insights:

• Bally’s estimates its iGaming market share in the UK to be around 15%.
• The market share in the slots segment stands at approximately 17%.

Financial Performance and Future Prospects

Despite a 4.4% YoY drop in Bally’s International Interactive arm during the first quarter, the UK division significantly boosted the group’s performance with a 12% revenue increase. Notably, the UK market represented 68% of the company’s International Interactive revenue in Q1 2024. This impressive performance highlights the strategic importance of the UK market in Bally’s international operations.

The Bally Bet Sportsbook

The Bally Bet sportsbook is currently live in seven US states, powered by Kambi. This follows Bally’s decision to shelve its in-house sportsbook, which was developed from the acquisition of the sports betting platform Bet.Works in 2021, along with its proprietary tech stack. This shift underscores Bally’s commitment to leveraging the best technology and partnerships to deliver a superior betting experience.

Enhancing User Experience

Jackpotjoy’s foray into sports betting is designed to offer users a seamless and engaging experience. The integration of cutting-edge technology, combined with a user-friendly interface, ensures that both novice and experienced bettors can enjoy a wide range of betting options. The sportsbook’s comprehensive features include live betting, bet builders, and pre-packaged accumulators, catering to the diverse preferences of sports enthusiasts.

Capitalizing on Major Sporting Events

The timing of the sportsbook launch is strategic, aligning with major sporting events that attract substantial global attention. The UEFA Euro 2024, Copa America, and the Paris Olympics are set to drive significant traffic and betting activity. Jackpotjoy’s ability to cross-sell its existing customer base into sports betting during these high-profile events is expected to significantly boost its revenue and market presence.

Commitment to Responsible Gaming

Jackpotjoy remains committed to promoting responsible gaming practices. The company has implemented robust measures to ensure that its sportsbook offers a safe and responsible betting environment. These measures include self-exclusion options, deposit limits, and access to support resources for individuals who may need assistance.

Looking Ahead: The Future of Jackpotjoy’s Sportsbook

The launch of Jackpotjoy’s sportsbook represents a significant milestone in the brand’s evolution. As the company continues to innovate and expand its product offerings, it is well-positioned to capture a larger share of the sports betting market. With a strong focus on user experience, technological excellence, and strategic market positioning, Jackpotjoy is poised for sustained growth and success in the competitive sports betting landscape.

FAQs About Jackpotjoy Expansion into Sports Betting Ahead of UEFA Euro 2024

1. What recent addition has Jackpotjoy made to its platform?

Jackpotjoy has added a sportsbook feature to its website and mobile apps, marking its first venture into sports betting since its launch in 2002.

2. How can desktop users access the new sportsbook feature?

Desktop users can access the sportsbook by clicking on the dedicated “Sports” tab at the top of the Jackpotjoy homepage.

3. How can mobile users access the sportsbook feature?

Mobile users can access the sportsbook via the iOS and Android apps by tapping on the corresponding icons located at the bottom of the screen.

4. What types of betting options does the sportsbook offer?

The sportsbook offers a variety of in-play and pre-match betting options, including bet builders and pre-packaged accumulators.

5. Which major sporting events will the sportsbook feature bets for?

The sportsbook will feature bets for major events such as the UEFA Euro 2024, Copa America (starting June 20), and the Paris Olympics (beginning July 26).

6. What is the strategic purpose of launching the sportsbook?

The sportsbook aims to cross-sell existing customers into sports betting, generating higher revenue and enhancing customer engagement, particularly during major sports events.

7. How does the sportsbook launch align with Bally’s broader market strategy?

The launch is part of Bally’s strategy to introduce sports betting to the UK market, capitalizing on the strong performance of the UK division, which is described as their “most robust market.”

8. How has Bally’s UK division performed financially?

In Q1 2024, the UK division boosted Bally’s overall performance with a 12% revenue increase, representing 68% of the company’s International Interactive revenue.

9. What technology powers the new sportsbook?

The sportsbook is powered by Kambi, a leading sports betting technology provider, ensuring a top-tier betting experience for users.

10. What are the key features of the Bally Bet sportsbook in the US?

The Bally Bet sportsbook is live in seven US states, leveraging technology from Kambi after discontinuing its in-house sportsbook built from the acquisition of Bet.Works in 2021.

11. How does Jackpotjoy ensure a safe betting environment?

Jackpotjoy promotes responsible gaming through measures such as self-exclusion options, deposit limits, and access to support resources for individuals needing assistance.

12. What impact does the sportsbook launch have on Jackpotjoy’s market position?

The launch positions Jackpotjoy to capture a larger share of the sports betting market, enhancing its product offerings and market presence in the competitive sports betting landscape.

13. What are Bally’s market share estimates in the UK iGaming and slots segments?

Bally’s estimates its iGaming market share in the UK at around 15%, with a market share of 17% in the slots segment.

14. What future prospects does the sportsbook launch bring for Jackpotjoy?

The sportsbook launch is a significant milestone, positioning Jackpotjoy for sustained growth and success, with a strong focus on user experience, technological excellence, and strategic market positioning.