Monthly archives: August, 2021

Perform lands Lega Basket Serie A betting rights

first_img Email Address Regions: Europe Southern Europe Italy Perform Group has secured betting rights to the Italian LBA Lega Basket Serie A club basketball competition Perform lands Lega Basket Serie A betting rights Subscribe to the iGaming newsletter Perform Group has secured betting rights to the Italian LBA Lega Basket Serie A club basketball competition. The deal covers the 2018-19 and 2019-20 seasons. Perform will show coverage of games via its Watch&Bet live streaming service. “The LBA is terrifically exciting, high quality basketball, making it the perfect complement to FIBA, La Liga, Ligue1 e WTA,” Perform’s business development manager Stefano Drago said. “Our strategy is to offer customers the widest amount of premium, entertaining sports content 24/7/365 and Lega Basket Serie A Basketball is perfect to further enhance our Watch & Bet service.” Lega Basket president Egidio Bianchi added: “The assignment of these rights is a confirmation of how the LBA intends to continue and consolidate its project aimed at increasing the value of the Serie A championship by creating the basis for its further and greater fruition by all means. “We decided, for the first time in the history of the League, to market the betting rights and the fact that to win them was a company like Perform, as well as fill us with satisfaction and pride, we are comforted that we are on the right path to spread better the LBA brand as we have already done in these playoffs that have received great attention from the public and the media.”Related article: Perform names Skipper as executive chairman 21st June 2018 | By contenteditor Tags: Online Gambling Topics: Sports betting Tech & innovation AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Sports bettinglast_img read more

Betway and Mandalorian fined over bonus offers in Sweden

first_img Tags: Online Gambling Email Address Betway and Mandalorian fined over bonus offers in Sweden Subscribe to the iGaming newsletter Swedish gambling regulator Spelinspektionen has handed six-figure fines to Betway and Mandalorian Technologies after finding them both in breach of regulations related to bonus offers in the country. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Finance Swedish gambling regulator Spelinspektionen has handed six-figure fines to Betway and Mandalorian Technologies after finding them both in breach of regulations related to bonus offers in the country.Licensed operators in Sweden can only offer players a bonus when they first sign up to their online gambling platforms, but Betway and Mandalorian were found to have offered bonuses on several occasions after the initial sign-up.In response to the findings, Spelinspektionen has now issued Betway with a fine of SEK5m (£406,812/€465,183/$521,224) and warned the operator about its conduct. Mandalorian has also been fined SEK9m and given an official warning.“The main purpose of the new gambling regulation, which came into force on January 1, 2019, is to strengthen consumer protection and reduce the negative effects of gambling,” Spelinspektionen said in a statement.“The limitation on bonuses is contained in the law to reduce social and economic damages and problem gambling. The Spelinspektionen will therefore continue to focus on supervision of this area.”Spelinspektionen wrote to all licensees in February to warn them against offering bonuses to existing customers. The regulator noted “some compliance” from the two operators, but its assessment was that further measures were required in order to achieve full compliance.The regulator defines bonuses as a form of discount of similar financial incentive directly linked to a game on an operator’s website.Betway is licensed to operate in the Swedish market via its Betway.se site, while Mandalorian offers igaming services through both its NoAccountCasino.com and PrankCasino.com domains. Regions: Europe Nordics Sweden Topics: Finance Legal & compliance 16th May 2019 | By contenteditorlast_img read more

Malta regulator cancels Sports Fantech’s licence

first_img Email Address Regions: Europe Southern Europe Malta Malta regulator cancels Sports Fantech’s licence Subscribe to the iGaming newsletter The Malta Gaming Authority (MGA) has cancelled Sports Fantech’s B2C gaming licence with immediate effect after ruling that the operator breached the country’s Gaming Act.Sports Fantech, which is registered at an address in Malta, had been permitted to offer type 4 gaming services such as controlled skill games on a B2C basis via its licence.However, according to the MGA, Sports Fantech breached paragraph H of the Third Schedule to the Gaming Act, whereby it failed to make payments to the MGA when lawfully due.As such, the regulator ruled that Sports Fantech is no longer authorised to carry out gaming operations, register new players or accept new customer deposits under the licence.The MGA also ordered Sports Fantech to retain and provide all registered players with access to their accounts, as well as refund all funds standing to customers.Sports Fantech will have the option to appeal against the decision, in line with article 43 of the Gaming Act.The MGA has cancelled a number of licences in recent months, with the likes of Aureate Gaming and Star World having their approval withdrawn in Malta. Tags: Online Gambling 14th November 2019 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Legal & compliance The Malta Gaming Authority (MGA) has cancelled Sports Fantech’s B2C gaming licence with immediate effect after ruling that the operator breached the country’s Gaming Act. Topics: Legal & compliancelast_img read more

Problem gambling now regulators’ biggest concern – IAGR report

first_img Email Address Subscribe to the iGaming newsletter 22nd November 2019 | By contenteditor Problem gambling has replaced consumer protection as the main concern for regulators around the world according to new data issued by the International Association of Gaming Regulators (IAGR).Problem gambling is being tackled by 88% of the regulatory bodies who participated in the group’s new ‘Gambling Regulation – Global Developments 2018-19’ survey. That represents an increase from 82%, when the data was last compiled in 2017, and places it ahead of consumer protection on 86% (90% in 2017) at the top of the list.Fewer authorities are dealing directly with gambling addiction compared to two years ago, with the number falling from 59% to 54%. Those dealing with match-fixing has risen considerably from 38% to 45%.Other key insights from the report, based on data provided by 44 jurisdictions, include that number-based games like lotto are the most common form of gambling, followed by casinos, then betting.Tackling gambling-related crime is a key duty for all regulators, with the top five areas of concern reported as illegal gambling, money-laundering, cheating, match-fixing/spot fixing and underage gambling.The report also shows that around two thirds of respondents have mandatory contributions from market operators in place for responsible gambling programmes.Looking ahead, the most pressing challenge reported by regulators is regulatory developments in other jurisdictions. Examples of this are the liberalisation of a gambling market or the legalisation of online gambling in a neighbouring jurisdiction.Betting on eSports and social gaming (with real money prizes) were the top-rated trends in 2017, and are joint third place this year.IAGR president Paul Newson said the results highlight common issues and challenges as well as some differences in the policy settings and focus of regulators.“This is a tremendous tool to promote greater information sharing and collaboration around policy development and industry supervision where we exercise similar functions and confront common issues and challenges,” he said.“Through increased collaboration across jurisdictions we can advance efficient and effective gambling regulation and inform a collective focus and priority where the risks are greatest.”Regulatory bodies in Europe, Africa, Australasia and North and South America participated in the survey. Legal & compliance AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Problem gambling now regulators’ biggest concern – IAGR report Problem gambling has replaced consumer protection as the main concern for regulators around the world according to new data issued by the International Association of Gaming Regulators (IAGR). Topics: Legal & compliancelast_img read more

GC mulling measures to enhance oversight after govt report

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Legal & compliance GC mulling measures to enhance oversight after govt report Subscribe to the iGaming newsletter Tags: Online Gambling The British Gambling Commission has acknowledged that there is “always more to do” after a damning report from the House of Commons’ Public Accounts Committee described the regulator as “toothless”.In a report released yesterday (28 June), the Public Accounts Committee, which is responsible for monitoring government expenditure, said the Commission was failing the UK’s estimated 395,000 problem gamblers. In particular, it noted that the £19m in licence fees the Commission took in was inadequate to regulate an industry with a gross gambling yield around 600 times higher than this figure.In its response to the report, the Commission pointed to its prior record of introducing measures to enhance player protection, including the ban on gambling with credit cards, which came into effect in April of this year.“Over the past two years we have strengthened player protection measures, tightened the regulation of the online sector, introduced strict age and ID verification checks, brought in a ban on gambling with credit cards, and been tougher through our enforcement activity,” a Gambling Commission spokesperson said. “In recent weeks we have also established an ‘Experts by Experience’ advisory group who will help us to strengthen our efforts and help ensure we make an impact where it matters.”However, the spokesperson said the Commission agreed that further improvements were necessary to enhance its oversight of the industry.“We accepted before the Committee that there is always more to do and we are carefully considering the findings of their report to see what other additional steps we can take.”The spokesperson added that the regulator was already working to solve many of the issues highlighted in a February report from the National Audit Office (NAO).“We are committed to making even further and faster progress to address gambling harms and were already addressing a number of the issues highlighted by the National Audit Office earlier this year,” they said.The NAO’s report highlighted a number of deficiencies in the regulator’s ability to protect consumers, enforce licence conditions and even effectively measure the results of its regulatory work. Like the Public Accounts Committee, the NAO said the Commission lacked adequate funding to keep pace with the industry.The NAO advised the Commission to better define its consumer protection goals so that they may be tracked and measured. It also said the regulator should improve its analytical capacities to make better use of available intelligence and develop a better strategy for compelling operators to raise standards.The Commission has also faced a great deal of criticism from the All-Party Parliamentary Group (APPG) on gambling-related harm, which has repeatedly said the regulator is “not fit for purpose”. In a report released earlier this month (15 June), the APPG called for “an urgent review of the Gambling Commission and its capacity to effectively regulate the burgeoning online gambling industry”.The APPG report also proposed a range of strict new controls for the industry, including a total prohibition on advertising and banning in-play betting. 29th June 2020 | By Daniel O’Boyle The British Gambling Commission has acknowledged that there is “always more to do” after a damning report from the House of Commons’ Public Accounts Committee described the regulator as “toothless”. Topics: Legal & compliance Regions: UK & Ireland Email Addresslast_img read more

GVC removes brands from Oddschecker for “commercial reasons”

first_img8th July 2020 | By Daniel O’Boyle GVC will take its UK-facing brands – Ladbrokes, Coral and Betdaq – off of odds comparison affiliate platform Oddschecker as of tomorrow (9 July) for “commercial reasons”. Topics: Marketing & affiliates Sports betting AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: UK & Ireland Subscribe to the iGaming newslettercenter_img GVC removes brands from Oddschecker for “commercial reasons” GVC will take its UK-facing brands – Ladbrokes, Coral and Betdaq – off of odds comparison affiliate platform Oddschecker as of tomorrow (9 July) for “commercial reasons”.The operator said the deal between the two businesses came to an end because they could not agree on commercial terms for its continuation.“We would like to wish Oddschecker the best of luck and thank them for the positive relationship we’ve enjoyed over the years we’ve worked together,” GVC said.“Sadly, we couldn’t agree commercial terms to renew the relationship, so as of the 9th July our UK Digital Brands will no longer feature on the service”None of GVC’s other affiliate deals are affected.Oddschecker, formerly the affiliate arm of Sky Betting and Gaming, is a founding member of affiliate body Responsible Affiliates in Gambling (RAiG), which last week declared its support in principle for a statutory licensing or registration regime for affiliates active in the British gambling market. In 2019, Oddschecker acquired football data portal WhoScored.In April, GVC reported a year-on-year rise in revenue for the first quarter of 2020, despite business slowing down due to the novel coronavirus (Covid-19) pandemic. In a trading update, GVC said total group net gaming revenue (NGR) for the three months through to 31 March was 1% higher than in the same period last year.Yesterday, GVC announced that it will reorganise its customer care teams, putting some roles at risk of redundancy, in order to prepare for new VIP requirements in Great Britain. Marketing & affiliates Email Addresslast_img read more

Louisiana’s Coushatta Casino partners RSI for social launch

first_imgCasino & games Subscribe to the iGaming newsletter Louisiana’s Coushatta Casino partners RSI for social launch AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: US Louisiana Louisiana-based Coushatta Casino Resort has launched a new social casino and sportsbook in partnership with Rush Street Interactive.Coushhatta Casino4Fun is powered by the same technology used for Rush Street’s real-money online gaming sites and omni-channel retail sportsbooks.The site offers access to more than 300 slots, table games and live dealer titles. Players will also be able to bet virtual chips on sporting events through the new offering.Similar offerings have been launched for Rush Street’s properties in New York, Pennsylvania and Illinois – where it also offers real-money sports betting, and in Pennsylvania, igaming – to drive customer acquisition and engagement.Rush Street’s new partner in Louisiana is the Coushatta tribe, which opened its casino in 1995, which it claims to be the largest venue of its kind in the state.“We are thrilled to offer our guests the popular amenity of online social gaming. We know Coushatta Casino4Fun will create fun and excitement for our guests once they sign up to play,” the Coushatta Casino Resort’s general manager Scott Sirois said.Read the full story on iGB North America.center_img Topics: Casino & games Social gaming Tribal gaming Email Address Louisiana-based Coushatta Casino Resort has launched a new social casino and sportsbook in partnership with Rush Street Interactive. 25th August 2020 | By contenteditorlast_img read more

Covid-19: FY expectations recede

first_img23rd October 2020 | By Stephen Carter Finance AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter This is 23% behind the $472.6bn forecast by iGB’s principal data partner before the pandemic hit global gambling markets (see interactive Chart 2 below) and just ahead of the total from ten years’ ago (Chart 8). Email Address H2 Gambling Capital’s FY revenue expectations for the global gambling sector fell back to $363.8bn this week. Online’s projected share of 2020 gross win stayed flat this week at 18.6% (Chart 6). Subscribe to the iGaming newsletter Topics: Finance However H2 indicated to iGB that interactive, including lottery, was “heading toward 20% this year and could be as high as $80bn gross win next year now. It was only $40bn as recently as 2015”.Photo by Anton Uniqueton from Pexels Covid-19: FY expectations recedelast_img read more

Danish horse racing revenue increased 3.29% in 2019

first_img Danish horse racing revenue increased 3.29% in 2019 Since the market was liberalised in 2018, ending Danske Spil’s monopoly on horse race betting in an attempt to increase interest in the sport, operators have been obliged to pay 8% of all wagers on racing to Danish racetracks, in a special contribution to equestrian sports. The highest amount of horse racing bets were made in Q3, with DKK49.8m of the total wagered in 2019, up 9.21% from DKK45.6m in Q3 2018. Q2 and Q4 also saw increases, up 1.12% and 3.05% respectively. Q1 was the only quarter in 2019 which saw a decrease year-on-year, down 5.41% from 2018. Contributions must be used for expenditure in the common interests of horse racing, such as race prizes, maintenance of racetracks or training coaches. Denmark’s gambling regulator, Spillemyndigheden, has released figures showing that wagering on horse racing in the jurisdiction increased 3.29% to DKK132m (£16.2m/€17.7m/$21.5m) between 2018 and 2019. It calculated a gross gaming revenue of DKK40.4 per player on all forms of gambling during 2019, down from DKK40.7 in the previous year. 10th December 2020 | By Conor Mulheir AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter The market recovered somewhat in Q3 this year, as revenue for the three months to 30 September came to DKK1.53bn, up 32.1% from Q2 2020, but still down 11.1% on the same period in 2019. Regions: Denmark Email Address Subscribe to the iGaming newsletter In 2017, prior to the market’s liberalisation, approximately DKK126m was wagered on horse racing, rising to approximately DKK128m in 2018, and again to DKK132m in 2019. Horse racing Topics: Finance Sports betting Horse racing Tags: Spillemyndigheden Operator paid DKK10.6m in contributions in 2019, rising 3.9% from DKK10.2m in 2018. In the first half of 2020, regulated gambling revenue was shown to be down 19.2% year-on-year, after the novel coronavirus (Covid-19) pandemic greatly impacted the performance of both land-based gaming and sports betting. Overall revenue for the six months to 30 June fell to DKK2.70bn. In October, results published by the regulator showed that 2019 represented the first year that year-on-year gaming revenue had fallen since the jurisdiction opened its regulated igaming market in 2012.last_img read more

Genius raises revenue guidance after strong first quarter

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Operating expenses were up 17.6% to $16.7m. Although sales and marketing costs dropped to $3.9m, research and development costs increased 37.5% to $3.3m. Administrative costs reached $8.9m, whilst transaction expenses amounted to $689,000. Gross profit also increased 76.6% to $13.6m, whilst net operating profit decreased 60.2% to £3.3m. Adjusted EBITDA saw a 414% year on year increase to $9.3m. Tags: Genius Sports Group “We delivered superb results in the first quarter of 2021, demonstrating our continued excellent momentum and solid execution of strategic commitments,” said Genius co-founder and CEO Mark Locke. “The group is still very much in ‘investment phase’, but from a much stronger underlying position than just nine months ago. Analyst Paul Leyland of Regulus Partners, however, said it still remains to be seen whether Genius can live up to the high investor expectations. Genius Sports posted revenue figures of $53.7m for the first quarter of 2021, marking a 51.9% increase on the same period last year and prompting the data supplier to raise its revenue guidance for the year to $250m-$260m. As a result, operating losses decreased 52.3% to $3.1m. Pre-tax losses totaled $5.6m, while after tax net losses came to $5.3m – down 29.3% from 2020. In terms of non-operating costs, interest expenses rose to $2.3m, foreign currency losses were $163,000., and other expenses came to $2.5m. Depreciation and amortisation amounted to $4.5m, while litigation costs totaled $878,000 Following the successful quarter, the business raised its rveenue guidance by 35%, from $190m to between $250m and $260m. Genius raises revenue guidance after strong first quarter Subscribe to the iGaming newsletter “Like most US-facing business models, Genius will sink or swim on commercial drivers, technical competence and operational execution – not daydreaming about what the size of the US market might be in five years time.” 20th May 2021 | By Nosa Omoigui “There is a significant opportunity to utilize our leading portfolio of official sports data, supported by our unique technology, scale and growing network of industry partners. Our strategy of powering the global sports data ecosystem has supported our growth in the quarter, and we’re confident in our ability to continuously improve our end-to-end solution and deliver on our increased guidance for the year.” Of this total, $39.0m came from betting technology, up 42.1%, $9.4m was generated from media technology (a 127.0% increase), and sports technology contributed $5.4m. Topics: Finance Q1 results 2021 Regions: US In a busy year for Genius, 2021 has already seen the supplier list on the New York Stock Exchange, completee a deal with FanHub, acquire Second Spectrum in a $200m deal, and sign a multi-year data partnership with the NFL. Q1 results 2021 Email Addresslast_img read more