It’s no secret that the American sports betting market is booming—it is already worth $10 billion, and its value has the potential to increase nearly five-fold, based on Goldman Sachs’ research. When you look at the growing sports betting handle, it’s easy to see how Goldman has come to that conclusion.
According to Odds Assist, in 2018, the handle was $4,618,927,032. The amount swelled to $119,835,278,700 in 2023—a 2,494.44% increase! As more states legalize sports betting, this number will continue to skyrocket.
With the American sports betting industry going from strength to strength, the enthusiasm was palpable in NYC as iGaming executives from around the world gathered for the Next.io summit.
Downtown NYC Hosts 300 Sports Betting and Online Casino Operators
Numerous investors, 300 operators, 1,200 executives, and an impressive collection of industry leaders attended the Next.io New York Summit held at Convene in Downtown NYC on March 6 and 7.
The sold-out event featured a who’s who of the American iGaming industry, including the CEO of BetMGM, Adam Greenblatt, president of 888 Holdings, Howard Mittman, and CEO of Fanatics Betting and Gaming, Matt King.
There were even some celebrity speakers, like Stephen A. Smith and Contessa Brewer, as well as New York Senator Joseph P. Addabbo, Jr., the Chairman of the Senate Committee on Racing, Gaming, and Wagering.
Leading Software Providers Pitch Their Products
Online casinos are currently allowed in six U.S. states, but industry experts are predicting that they will be legal across the country within ten years. This is already an 11-figure industry; just imagine what will happen when 30+ more states legalize it.
Software providers are positioning themselves for such growth, so it’s not surprising that so many attended the Next.io NYC Summit, where they mingled with existing clients, pitched new casinos, and showcased their latest games.
Some of the top software providers who made their presence felt at Convene were Evoplay, Evolution, Light & Wonder, Playtech, Play’n GO, Everi, and a whole host of other companies.
Attendees got to pick the brains of the top game developers and see the latest gaming trends that are sweeping the industry. Key developments relating to game design include the ever-increasing popularity of live gaming, the need for updated gamification methods, and the rise of augmented reality.
Key Speeches at Next.io NYC Summit
More than 100 presentations and speeches were crammed into the epic Next.io NYC Summit. It had three stages, with presentations running concurrently from the morning until the early evening. The lucky attendees got to listen to incredible insights into the American online gambling industry and get a peek into the future to see where the sector is heading. The presentations were followed by networking events.
It was amazing to hear so many different perspectives on all aspects of the industry. CEO of BetMGM Adam Greenblatt shared his predictions for 2025, while Contessa Brewer from CNBC moderated the discussion. He revealed that Texas was BetMGM’s near-term goal and that the company was making great inroads in a state with a current ban on sports betting and online gambling.
In a fascinating presentation, William M. Gantz, a lead trial lawyer with nationwide experience representing gaming and technology clients, laid out the legal risks of sweepstakes casinos and revealed the potential government response. According to him, there is a strong likelihood that states will continue to crack down on sweepstakes casinos, just like we saw in Michigan.
In another interesting speech, Adam Rosenberg, a senior advisor at Blackstone, explained how he goes about investing in iGaming companies. He revealed his methodology and the steps he takes to create value for investors.
We also heard from New York Senator Joseph P. Addabbo, Jr., who shared the latest developments concerning the New York online casino bill. Despite some setbacks, all is not lost. The senator is staunchly committed to his bill, which would legalize online casinos in New York. As such, he will continue to work with his colleagues to alter it.
Evolution Running Club
It wasn’t all business at the Next.io NYC Summit—there were also some exciting side events. For the early risers and fitness fanatics, Evolution hosted a running event that kicked off at 6:30 a.m. on March 6. The iGaming athletes started at Castle Clinton National Monument in Battery Park and jogged around Manhattan, taking in all the sights.
After the run, the attendees grabbed a healthy breakfast at a cafe and shared insights about the iGaming industry. The Evolution Running Club was a big hit with all attendees, giving them an endorphin boost for two big days of presentations and networking events.
VIPs Went to an NBA Game
The big-name attendees at the Next.io NYC Summit also scored free tickets to the NY Knicks vs. Atlanta Hawks game at Madison Square Garden. In a private suite with unlimited food and drinks, industry bigwigs mingled and plotted out the path to ensure the continued success of the iGaming and sports betting market in the U.S.
Unfortunately, the hometown team went down 100-116. Bojan Bogdanović and Donte DiVincenzo had great games, scoring 19 and 21 points. But don’t worry, Knicks fans, New York is a lock for the playoffs this year!
The Next.io NYC Summit was a sell-out event, and the organizers did a fantastic job assembling an enviable list of industry-leading iGaming companies, executives, and influencers. The American industry is in safe hands with these bright minds steering the ship!
If you missed the Next.io NYC Summit, don’t worry. You can catch up with industry leaders in Malta on May 15 and 16 at the Next.io Valletta Summit.
