PaySafe Expanding US iGaming Proliferation

The announcement that Paysafe is becoming available for casino players in Ohio meant that 2023 started with something of a bang. The market for legal sports betting and online casinos in the state is still in its relative infancy, having only been created at the very end of 2021. Since then, it has been slow moving on the iGaming front, with businesses jockeying for position but very little in the way of innovation happening for players in the state. As such, this news will be extremely welcome, especially given the company’s successful adoption in other markets both in the US and outside of it.

A Company on the Up in the US Gambling Space

While the name PaySafe may perhaps be more recognizable to online casino users in places like Europe, that’s not to say that this is a company with no presence in the States. In fact, just last year, in the final financial quarter of 2022, the London-headquartered business saw itself making an entrance into the Maryland market. With that market a similar age to Ohio’s, it proves a perfect time for the payment operator to strike and establish itself as one of the most popular payment methods for gamblers.

The operator has partnered itself with two sportsbooks in Ohio in an attempt to introduce players there to their services. Currently, DraftKings and PointsBet will be the two sites that will offer that introduction, and signing up with such important names is sure to get PaySafe off to an impressive start in terms of usage. When it comes to its adoption and use in established markets, the provider has been a preferred payment partner of some of the biggest names in the game. Betway, BetFred and Hard Rock all use PaySafe, and that should be seen as a ringing endorsement for anyone unsure on whether to use it.

 

How is PaySafe Different to Other Payment Methods?

What makes the payment provider an intriguing proposition is perhaps the method users can utilize in order to access payments. Unlike most of the more commonly accepted payments that sportsbooks and online casinos will accept, PaySafe is an exceptionally varied one, offering players multiple ways in which to access winnings or make deposits. While there is the option for users to make deposits and withdrawals using an e-wallet, not unlike the bigger names in PayPal and Skrill, there is also an option to use the company’s paysafecard brand in many instances.

The paysafecard option bridges the gap between the online gambling world and brick-and-mortar stores by allowing people to purchase and top up pre-loaded debit cards in outlets across the country. These can then be used for purchases online and withdrawals at the outlets, which many of those who are uncertain when it comes to using online payment methods will see as reassurance. The ability to withdraw cash winnings is also a bonus, as it gives those who want to be able to access their winnings in cash the option of receiving cash winnings much quicker than with protracted online transfers.

The US iGaming Market Looking Forwards

The news of an established payment method growing its reach in the country is, ultimately, extremely welcome. At a time of major change in the iGaming industry, with more states opening up and others warming to the idea of liberalization, it’s perhaps of little surprise that adjacent companies and services are announcing their intentions to expand. Iowa, Maryland and Indiana, for example, are all looking to either establish an online gambling market or introduce new legislation allowing for aspects of gambling currently limited. This just shows the fertile landscape that these companies have to work with.

As states like Michigan and Pennsylvania report online gambling revenues of $2 billion and $5 billion respectively for 2022, don’t expect to see a slowing down of news of this type. While profits and tax revenues are this high, there will always be space for an innovator or establishment iGaming name to lever its way into the market. 2023 and 2024 may very well defy the expectations of many industry experts and economists and become some of the most intriguing years for online casinos and sportsbooks.

 

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BetConstruct Aiming to Shake Up iGaming World With New CMS

BetConstruct as a company has been developing its iGaming support tools for nearly two decades and has recently stepped up its digital offerings in an attempt to get ahead of the competition. Alongside their most recent support and management system, the company has been developing cryptocurrency solutions for online casinos to assist in normalizing the use of decentralized tokens in the industry. So, what exactly will these news systems do for businesses in the market?

A Single Service Solution for Ease of Use

According to a press release from BetConstruct, this updated CMS will fundamentally simplify the day-to-day operation for iGaming operators by housing all of the required resources in one tool. For online casinos, this means that entirely white-label or turnkey services will be provided, meaning that businesses can fully customize the user experience while accessing an entire complement of games and jackpots from their catalog. Beyond that, the company will provide both business-to-business support and business-to-customer support, allowing the operator to focus on the aspects of their business that they feel most accustomed to.

Possibly the most crucial aspect of the company’s CMS is how the service deals with some of the trickier intricacies of operating an iGaming establishment. Under their white-label option, all issues of jurisdiction and licensing will be managed by BetConstruct, removing much of the headaches associated with setting up a new business. Add to that the more than 500 payment gateways, including supporting the use of leading cryptocurrencies, and the operation of a sportsbook or online casino is simplified greatly for new names to the industry. This is ultimately the company’s overall vision, which they describe as, “[removing]… barriers to the [sic] industry entry and facilitate profitable expansion”.

 

Where Does This Leave the Industry at Large?

Ultimately, as described by the company’s mission statement, this looks to democratize the iGaming industry and provides an exciting outlook for the coming years. As we see more and more jurisdictions proving to be open to the idea of liberalizing gambling legislation, easy-to-use management systems will be crucial. In an ever-changing landscape, legal hurdles are often the most difficult element of operation for anyone moving into the business. As such, powerful tools such as these will be invaluable, allowing for a real focus to be placed on user experience and interface development.

Not only that, but the introduction of a unified catalog of payment gateways is sure to be the future of all business, not simply iGaming. As we see digital payment methods becoming more varied and the lines being drawn in the sand as people set out their preferences for choosing a payment method, the ability to accept a wide range of methods and pivot to newer developments like crypto could prove to be one of the major deciders between success and failure.

 

Crypto Adoption the Headline Grabber

While convenience and simplicity may be what attracts most to the service, the real headline grabber will be the ability to introduce crypto and blockchain technologies into the online casino world. With famous names like Brazilian soccer star David Luiz partnering with bitcoin and altcoin casinos like BC.GAME, it’s clear to see where the real sea change will be in the coming years. The association of world-famous names with these blockchain-adjacent establishments is just further proof that there’s demand for greater adoption of the technology.

With that said, an easy-to-use tool that gives operators the ability to make the first step into the decentralized world of blockchain and crypto casinos is sure to be a hit. In 2023 and throughout the rest of the 2020s, it wouldn’t be surprising if we were to see more services that provide entry-level access to such emerging tech popping up and acting as disruptors in the industry. If that’s to happen, names like BetConstruct will be notable for pushing the boundaries of what was available in the early stages.

iGaming World News: Regulation on India’s Agenda

On January 2, the Indian government proposed a number of potential regulations to help curb what they see as a dangerous rise in irresponsible gambling and addiction, especially when it comes to the country’s young people. These proposals will encompass online gambling in all forms, including online casinos and fantasy sports.

 

Federal Regulation Could Help the Industry Grow

The country has long been a minefield when it comes to online gambling. Currently, in only three states is it outright legal for Indians to bet through the internet. There is only a handful of states that allow for and license operators for online games like poker and gin rummy. This is part of why the government is looking to provide oversight for a business that they believe could achieve an impressive market value of USD$7 billion within three years. If this sector is to grow, there is a need for a unified approach to managing the industry and the legislation around it.

The CEO of The All India Gaming Federation, Roland Landers, said as much when he told reporters: “[These regulations] … will hopefully reduce the state-wise regulatory fragmentation that was a big challenge for the industry,”

While Indian casinos are forbidden from operating online entities which advertise online gambling, as it stands, there is no legislation that prohibits casinos outside the jurisdiction from providing online games for Indian players, as long as there is an option for those players to use Indian rupees. As such, we can see that there is a passionate and lucrative demand for real-money games that isn’t being met by providers within the nation.

 

Existing Market Value Paints a Promising Picture

In the 2021 financial year alone, it was reported that the online gambling market was worth a healthy USD$2.2 billion. This is even more impressive when you consider that a Google and KPMG report predicted a market share of USD$1.1 billion, meaning there was an overperformance of 100%, perhaps precipitated and influenced by the global pandemic. This growth shows that there’s a market and that the Indian government would be foolish to ignore the potential benefits.

Beyond these strong numbers, it’s easy to see on the surface that there’s a growing base in India for iGaming and that it can prove itself a global player. Online gambling startups from the country have recently seen massive investments from international firms. Tiger Global Management, a US-based investment fund, has regularly provided investments since 2020 in Dream11, a now world-famous name in the fantasy sports vertical.

 

Outlined Regulation Proposals

With the possible benefits in mind, both in the form of revenue and harm reduction, it’s important that the proposed levels of oversight adequately provide for the market, while allowing for it to organically grow. It’s clear, then, that this has been taken into account by those in government as the measures are designed to bring the country in line with areas like the US and EU in regulating online gaming, including needing to verify a user’s identity before they can play and installing a chief compliance officer to ensure regulations are followed.

It has also been reported that, in order for Indian gaming companies to set up a self-regulatory body to oversee operations and levy fines for non-compliance, the government will need to first provide their approval to its design. Also, the body will have to include a member that has been picked by the government. This person will have experience working in law enforcement, or public finance or administration. There will also need to be one more with experience working in consumer education, psychology, or medicine.

As it stands, these draft proposals are open to scrutiny from the public and no official closing date has been set. If and when these proposals are ratified and made official, it looks to be an exciting time for iGaming in India, as it looks to keep up with its worldwide competitors and ensure it doesn’t fall behind in the race to increase its market share.

Macau Gaming Revenue Forecast 2023

Macau is home to a handful of the world’s biggest gambling giants, including Las Vegas Sands (LVS) and Wynn Resorts. But these companies have seen their share prices dragged down by an economic slowdown in China and an anti-corruption drive in Macau. Part of the problem they face is the rapid rise of mobile gaming, which has been increasingly eating into their market share over the last couple of years. We will discuss Macau’s casino attractions and how these factors may affect them in 2023.

The Word’s Fast Growing Gambling Capital

Macau is the world’s largest gambling hub for both visitors and residents. According to industry experts, the city is expected to see its revenues grow 8.7% over the next five years. The best thing about Macau is its relatively small economy; according to Hong Kong’s Census and Statistics Department, the territory’s GDP was 19.7 billion U.S. dollars in 2017. This means that Macau’s growth rate is nearly a tenth of China’s current forecasted figure (7%) over the next decade. Even though Macau may be expected to lag due to its smaller size, it still outpaces the rest of Asia, including Singapore, which has an average growth rate of 3%.

The Growth of Macau’s Mobile Game Industry

Macau has long been a favorite tourist spot where visitors can enjoy gambling, shopping, and plenty of other activities. One of the significant drawbacks to Macau is that it does not have a lot of tourists or casinos for visitors to patronize. The revenue from other industries has gradually decreased over the last few years, and casinos are now Macau’s primary revenue source. Mobile gaming has grown in popularity worldwide but is especially prominent in Asia. There are over 250 million mobile gamers in China, which continues to grow each year. The mobile game industry also makes up more than half of the total gaming market share, so it is not surprising that Asian gaming companies have seen a significant rise in their shares over the last year or two.

Asian Gaming Companies See Increase in Shares

Despite these changes, Macau’s local casino owners did not see their shares fall significantly. These companies have performed much better than many of their Asian competitors. According to one analyst, these companies are outperforming as a whole because they are keeping up with major trends and developing new online and mobile games that appeal to younger customers. They will also continue to invest heavily in the market and promote their services to stay ahead of the curve. Due to recent 2023 data from the researcher, analysts also emerge from thinking that the gaming revenues of Macau will fall due to a decrease in visitors.

The Impact of Economic Changes on Macau’s Gaming Industry

Gambling has always been a popular activity in Asia. However, these casinos are facing a lot of pressure from the Asian gaming market because they rely so heavily on this market. For instance, the technology used in Macau’s casinos is outdated compared to the online gaming industry and mobile games. The recent discovery has also hurt the gaming industry, and many gambling machines in Macau were rigged to increase profits. To prevent further problems, the company has begun an investigation into these issues and made it very clear that they will not tolerate any corrupt practices or cheating.

Macau’s GDP has grown tremendously over the last decade, but it was at one point growing slower than China’s. Unfortunately, this figure fell this year, and analysts predict it will fall further by 2021. Revenue in 2023 is expected to fall at a rate of 3.2%, but this is still lower than the general average of 4.5%. The gaming industry has proven to be one of the most successful sectors in Macau, and it continues to grow, despite a few setbacks.

The Outlook for Macau’s Gaming Industry

In recent years, casinos have undergone major changes that have led to a drop in revenue and profit figures for many companies in this industry. This is because many people have turned to online gaming and mobile games as alternatives. In 2009, revenue from the Asian gaming industry accounted for just under 60% of total industry revenue. This number has dropped to 40% over the last year or two because of new trends and regular competition. This means that Asian games are moving into a higher profit territory because they are growing more quickly than the overall market.

The gaming industry in Macau has seen a lot of major changes over the last few years, but it continues to play an important role in the ongoing growth of this economy. The gambling industry saw a drop in revenue over the last couple of years as users turned to online and mobile gaming, but this is all part of a natural progression towards higher profits. This may be disappointing for some casinos, but they are simply falling behind because they have not been able to adapt quickly enough to these trends.

Aristocrat launches Anaxi

Aristocrat Leisure Limited is a provider of gaming content and technology. You may know them from hugely popular slots titles such as Pelican Pete and Werewolf Wild. The Sydney-listed corporation released an official press statement on Monday.  The company has revealed that its Real Money Gaming (RMG) subsidiary in the online space will be known as Anaxi. This new brand will make up the third business unit of the Aristocrat Group, joining Aristocrat Gaming and Pixel United. Establishing a unique online random number generator-based games arm is part of a larger effort to expand its position inside this crucial vertical. The rebranding, according to the parent business, will aid the subsidiary in implementing its “build and acquire” expansion plan. It will also help with the attraction and retention of top talent.

Improve Existing Online Game Materials

Anaxi’s launch is part of Aristocrat’s expansion plans following the establishment of the company’s online RMG division in February.

Mitchell Bowen, CEO of Anaxi, was ecstatic to announce the launch of the new product line under the Aristocrat Group umbrella. He described Anaxi as Aristocrat’s emerging online RMG business. Anaxi “reimagines the world’s finest gaming content online.” It positions the company to “become the most trustworthy source in online RMG globally.”

The rebranded company will aid in the implementation of the “create and buy” approach. Doing so by facilitating the brand’s ability to retain highly skilled industry professionals. Additionally cultivating a cohesive team dynamic.

Aristocrat’s clients, partners, and players are all invited to the Aristocrat Gaming exhibit at G2E Las Vegas. The invitation is to “Experience Anaxi,” as Bowen continued his remarks by saying.

Launching in the United States

The first Anaxi-branded regulated online casino offering for the US market will launch by the end of 2022. It will be in conjunction with two big customers. Meanwhile, Aristocrat is committed to keeping pace with the growing demand for its online RMG offering. Further mergers and acquisitions along the lines of its recent purchase of B2B online RMG supplier Roxor Gaming are expected.

Aristocrat will be able to reach a wider audience in more than 100 countries. The reason is they now have access to the extensive affiliate network provided by Roxor Gaming. With the addition of over 100 committed specialists from Roxor’s UK office, the over 7,000 workers at Aristocrat’s 20 offices across the world would have access to extensive experience in online RMG.

Gamesys Group’s previous in-house studio is now a B2B gaming supplier with a presence in New Jersey and plans to expand across North America and the United Kingdom.

As part of its US expansion plan, Aristocrat also inked a multi-year partnership agreement with the NFL’s New England Patriots. Through this the company’s name and logo will be prominently displayed at the team’s home stadium, Gillette Stadium, all year round. Patriots fans will be treated to special activations and promotions during games.

About Anaxi

The year 2022 saw the birth of Anaxi. It is a company whose mission is to ensure that anybody can safely participate in the thrill of Real Money Gaming online. Anaxi’s vision is “A New Way to Enjoy Entertainment”. Their goal is to become the most respected brand in international online RPG. Achieving this by harnessing the power of the world’s best gaming material and the ingenuity of more than 600 dedicated individuals.  Visit www.anaxi.com for details.

About Aristocrat Leisure Limited

Aristocrat Leisure Limited provides games and related technology. This business creates electronic gambling machines, software, and systems for brick-and-mortar, virtual, and mobile casinos.

Its forte is creating F2P mobile games. So far, Aristocrat has shown to be quite successful in providing to its B2B clients. It encourages mature gameplay and guarantees that everyone in the company has the same core values.

Over 326 different countries and territories offer legalized gambling to customers of this multinational corporation. It is a formidable organization with 28 different art studios and 23 strategic offices.

SBC Summit Barcelona is Back!

The SBC Summit Barcelona will be held at Fira de Barcelona, Montjuic between September 20-22, 2022. It gives an exciting opportunity for you to explore an array of product releases that are the latest and most-anticipated.

They will be exhibited across a vast space of 18,000 square meters. The conference and exhibition will also feature 200 world-class suppliers. Some of the global industry leaders have been brought in for the event to share their knowledge. They will also be discussing the future of the industry. Among them are Shay Segev, CEO of DAZN Group and Paris Smith, CEO of Pinnacle Sports.

The event will cover the most comprehensive agenda of the year. More than 300 specialists and senior executives are expected to speak at the conference. You can get a Full Access pass for some excellent networking opportunities at Barcelona’s hottest spots.

If you are a games provider or a casino brand and you want to catch up with CasinosJungle at SBC Barcelona to take a look at your newest releases you can contact us on business@casinosjungle.com. See you there!

The zones

The venue will comprise 5 different zones, having their own exhibition floor, conference stage, and areas for networking. At each of these zones, you can meet fellow professionals, get some interesting industry insights, and see new products.

Sports Betting Zone

This zone gives you the chance to meet the influential specialists and senior executives from the globally renowned operators. You can browse the next-generation sportsbook products from the most innovative suppliers and exchange ideas about the latest industry developments.

In the Sports Betting Zone, you can also dive into some important issues. They include the future of e-sports betting, relationship between media companies and operators, and exclusivity in data rights. Each of these issues will be discussed during a series of panels on the Sports Betting stage.

You can also visit the exhibition, which features new products and services. The representatives from hundreds of operators will be participating in the Sports Betting Zone. Among them are the sportsbook directors, C-Level executives, and other key decision makers.

Casino and iGaming Zone

You’ll get the chance to discover the next generation titles from some of the major developers at the exhibition of Casino and iGaming Zone. It will also give you some valuable insights on the latest products and services from the providers of gaming platforms. You can interact with the player acquisition specialists and content aggregators as well.

The zone will have a Casino and iGaming stage. This is where you will get to hear the most influential executives from the i-gaming industry. They are expected to speak on some crucial issues faced by the industry today. Participants in this zone include casino product managers and live casino managers.

Payment and Compliance Zone

The world’s leading safe gambling specialists, KYC experts, and payment service providers can be seen in this zone. Expert panels will share some key information on topics associated with payment and compliance. Among them are how to develop payment experiences without any friction, safer gambling solutions, and impact of contactless technologies.

The experts are also expected to talk on mitigating risks of using cryptocurrency and technology for improving players’ protection. You will be able to explore the next-generation payment systems, identity verification, and open banking in this zone. Among the participants in the Payments and Compliance Zone are compliance directors, responsible gambling managers, and heads of payments.

Affiliate, Marketing, and Media Zone

In this zone, you will find star affiliates, leading industry publications, and digital marketing specialists. You can keep yourself up-to-date with the latest trends, technologies, strategies, and regulatory changes. The Affiliate, Marketing, and Media Zone also connects you with the affiliate teams and super-affiliates. Some of the powerful conversations will happen in the conference room involving some influential industry experts.

They will share important facts and ideas on topics such as media partnership and affiliate licensing. Influencer marketing strategies for the i-gaming industry and the future of SEO will be discussed. The zone’s floor has the right environment for affiliates to connect with operators that offer affiliate programs.

You can meet the providers of innovative marketing services and marketing technology suppliers. If you are an affiliate, they can help you take your business to new heights. The industry experts such as heads of affiliate programs and marketing directors will give some interesting insights in this zone.

Emerging Tech, Blockchain, and Metaverse Zone

Emerging technologies always spark an interest among many. The Emerging Tech, Blockchain, and Metaverse Zone at the SBC Summit Barcelona will answer some of the questions associated with such technologies. The newer entrants into the digital world are NFTs, bitcoin, and augmented reality. They are also expected to revolutionize the sports betting and i-gaming.

You might have a lot of doubts about these technologies. The Emerging Tech, Blockchain, and Metaverse Zone will discuss such technologies and also give you the right answers. The delegates can have a first look at the latest technologies in The Emerging Tech, Blockchain, and Metaverse Zone. This zone will provide great value for new start-ups, heads of product and technology, investors, and stakeholders.

About SBC Summit Barcelona

Founded in 2016, SBC Summit Barcelona brings together the key decision makers from the global sports betting and i-gaming industry. It also gives attendees the chance to reach out to these decision makers and connect with them. “It is the events like this which allows the industry to grow and innovations to realize,” says Archil Kakhidze, CEO of adjarabet.com

According to him, this is the place to meet colleagues from the industry and discover companies that are innovative and bring great value to the business. The SBC Summit Barcelona features over 350 top-level speakers. They share their insights on the emerging opportunities, operational challenges in sports betting, payments and compliance, and i-gaming.

The line-up of speakers at the event includes senior executives from the marketing, product, and legal fields. They are representatives of regulators, operators, affiliates, and suppliers. The SBC Summit Barcelona is an opportunity to get some valuable industry-related information.

Delegates can expect to learn about the next-generation technologies and games. The event also hosts a series of product launches coming from the most creative and innovative suppliers.

Mr Green to Close Down Its UK Sportsbook Operations

888 Holdings has decided to stop operating Mr Green Sportsbook in the UK this month. The decision of closure was taken a few months after the operator closed down its German sports betting operations. The operator had announced earlier this year that it will no longer operate sports betting in the country.

According to the company’s announcement, this move will help offset its losses. Mr Green has informed its British customers and fans that the sportsbook will close down on September 8. Access will be available for players tomorrow from September 6 to 8. During this period, they can check the bets that have been placed.

However, they will not be able to place new wagers. The operator has also informed the players that unresolved bets will not be canceled. All the bets that are due for settlement will be honored after the closure of the sportsbook. The accumulated winnings will be sent to the accounts of players automatically.

They will not face any restrictions while making the withdrawals. Players can get in touch with the customer support team through live chat in case they have any queries. The operator has also announced that its Ireland sportsbook will continue its operations as usual. The closure will only affect players in the United Kingdom. And of course, players can still enjoy the excellent Mr Green online casino.

The trouble had started brewing much earlier

Over the past few years, Mr Green has been facing legal troubles in several countries. For many fans of the sportsbook, this is something unbelievable. Enda Gaffney, the Head of Sportsbook at Mr Green, was interviewed by SBC in 2018. “This week has been a tremendous week for Mr Green. We just launched our Green Gaming Tool and also we’ve launched Sportsbook 2.0,” Gaffney had said in the interview.

William Hill had acquired Mr Green for £242 million in 2019. Soon afterwards, the German side of its operations had to close down owing to ‘compliance issues’. Another news doing the rounds was about the fine levied on the operator by the Dutch gambling regulator, Kansspelautoriteit.

The operator was found guilty of offering its products in the Netherlands without a license. Mr Green tried to appeal Kansspelautoriteit’s fine and the case reached the court. However, the judges ruled in Kansspelautoriteit’s favor. Mr Green has also been fined in Sweden over the past few years.

The £3 million penalty

The UK’s Gambling Commission ordered Mr Green to pay a penalty of £3 million on February 27, 2020. An additional payment of £10,349.77 was also levied on the operator towards investigative costs. The Gambling Commission had been keeping a watch on Mr Green Limited for a while.

It found systematic failures of the operator in implementing Anti-money Laundering (AML) and Social Responsibility (SR) policies. The company lacked effective processes to keep a check on its customers’ gambling activities.

One of them had won £50,000 and had deposited more after gambling away the entire amount. The company failed to freeze the customer’s account. “We will continue to crack down on operators who fail in this area,” said the executive director of the Gambling Commission, Richard Watson.

New UK Gambling Commission Rules

When the COVID-19 pandemic struck at the beginning of 2020, online gambling witnessed a boom in the UK. This was mainly because of the lack of access to entertainment venues and land-based gambling establishments. According to a May 2020 BBC report, the searches for online casinos during lockdown had reached an all-time high.

Once the lockdowns came to an end, people were back to their brick-and-mortar casinos. As a result, some of the online gaming companies suffered massive losses in 2021. They included the gaming and entertainment provider, Flutter. The new wave of regulations from the UK government made things even worse for the online gaming companies.

The new rules from the UK Gambling Commission will be going into effect on September 12, 2022. Several restrictions will be put in place for the operators. Some popular online casinos such as WinTrillions were forced to cease their operations in the country as a result.

Just like Mr Green, Entain Group was fined for its AML and SR failures. In this case the amount of fine was £17 million. The information in this regard was put up on the UK Gambling Commission’s website on August 17, 2022. A few days ago, the website had also informed about a financial penalty of £630,000 on Smarkets (Malta) Limited.

What have been their SR and AML failures?

Operators in the UK need to be aware that the country’s Gambling Commission constantly monitors them. If such failures continue to occur in the future, the casino operators may lose their license. One of their serious SR failures is not interacting with at-risk customers.

They must interact with customers in a way that minimizes the potential risk of harms from gambling. Another major SR failure is not restricting customers who fail to provide their source of funds. Other failures include not escalating cases of customers staking more amounts after losing a significant sum.

AML failures are mostly associated with suspicious financial transactions. Some operators don’t conduct an adequate assessment of risks involving large financial transactions. They allow customers of their online casino to deposit huge amounts without tracking their source of funds. There’s always a probability of such large amounts being used for terrorist financing or money laundering.

They must also conduct enhanced due diligence checks on their customers. Some operators fail to scrutinize or monitor customers who stake large sums of money. They make the mistake of relying too much on open-source searches to know their customers’ source of funds.

What the future holds for the casino operators

Online gambling in the UK has seen the best times in the past two years owing to the COVID-19 lockdowns. However, the casino operators in the country need to pay some serious attention to the government regulations. They might need to bring about significant changes in their methods of assessing their customers’ risk.

At the same time they must also be careful not to make their customers feel offended. As long as they play by the rules, the casino operators in the UK have nothing to fear.

Jake Paul announces Betr’s new “micro-betting” sports bet app

Jake Paul describes micro-betting as “the TikTok-ification of sports betting.”

He states “We’re in it for the long haul, and we’re committed to doing it correctly… By the decade’s end, we plan to have established ourselves as the preeminent sports betting and media consumer brand.”

Betr’s first foray into the media industry will be the BS with Jake Paul web series. Other works will follow. Mike Denevi, formerly of Bleacher Report, has been hired as Betr’s head of media.

Levy told Axios, “You can certainly expect 10+ videos a day from rising content creators we’ve recruited into the firm.” But at first, we’re concentrating on natives with premium content, beginning with Jake’s show.

Levy said the business hopes to monetize its performances through sponsorships and drive brand exposure through media. The company has had discussions with streaming services about licensing its material. However for now it has no intentions to develop original programming for any platforms other than the most popular social media apps.

A freemium launch with payment models to follow

Betr will employ the technology developed by Levy’s other gambling software startup, Simplebet, to launch its betting operation. In the beginning, it will be a freemium game, later expanding to other payment models and additional states. The firm claims to have established equity relationships that will allow it to expand its gambling operations.

The initial $50 million in seed funding is being provided by a diverse group of backers, including several high-profile individuals and organizations in addition to venture capital firms such as Florida Funders (8vc), Aliya Capital Partners, and Richard Sherman, Ezekiel Elliott, and Travis Scott (Betr is headquartered in Miami).

Investing in new hires, research, and development are high on Betr’s list of plans for the money. Levy seeks access to many betting markets and will reveal his first set of partners in the coming weeks.

According to Levy, the company is spending much less on agreements with market access partners like land-based casino operators than it initially expected. Rather than compensate them monetarily, the company is giving them ownership holdings in Betr so that the funds may be put toward building the business and attracting new customers.

”Our best-in-class technology will be a potent force in the industry when combined with Betr’s distribution channels’ redesigned user experiences, reach, and influence. We are thrilled to be at the center of this cooperation, which brings together many of the best aspects of the fast growing convergence of sports, media, and technology, said Paul.”

Betr Founders

Paul found fame on Vine, a now-defunct social video platform, before transitioning to YouTube. He also had a role on the Disney Channel show Bizaardvark. Still, He was fired after he and his brother, fellow social media sensation and boxer Logan Paul, got into some publicity-negative mischief.

In 2018, Paul started boxing, and in 2020, he got professional. Paul has emerged as a significant player in the boxing industry. He’s produced some high-profile bouts and recruited notable fighters like Amanda Serrano and high school phenom Ashton Sylve. Through his venture capital firm, Anti Fund, Paul has invested in businesses like Moonpay (a cryptocurrency payments company). Other ventures include Alchemy (a blockchain startup), and Osmind (a mental health platform).

Levy is credited as a co-creator of Simplebet, a B2B technology that introduced the concept of “micro-betting” to American sports. Betr is an online sports betting platform that allows users to wager on individual outcomes within an event. For example, pitches, at-bats, plays, and drives in baseball and football games. Betr, using the technology developed by Simplebet, will launch its app “in the coming weeks” with a free-to-play version available in all 50 states. This will be followed by a state-by-state release of its licensed real money betting experiences later in the year. By forming “strategic equity-based partnerships that the firm will be disclosing shortly,” Betr claims it has gained entry to markets in several states in the United States.

Paul claimed that the sports betting industry has long relied on famous young people to promote their products to draw in more members of the millennial generation who enjoy gambling.

Drawing in a millennial generation onwards

Paul, who has 70 million social media followers, stated in an interview, “They were paying me millions to promote their sportsbooks for my fights.”

For something to move forward, they require movers and shakers. Finally, we get to replace the dinosaurs.

Betr’s media and betting arms are separate but complementary businesses. In his new post as president, Paul oversees the media division.  Here they develop social shows and promotions aimed at a younger demographic. He’ll be in charge of marketing, assembling a team of influencers, and hosting a weekly show. Joey Levy will oversee all gambling operations.

Betr has also brought on Alex Ursa, formerly the president of product at FanDuel, and Mike Denevi, formerly the head of media at Bleacher Report, to help launch. To increase awareness of the service, Paul will host a new talk program, “BS with Jake Paul,” inviting other influencers, celebrities, and athletes to debate today’s critical sports topics.

What is Micro Betting?

Micro-betting is a growing part of the gambling market. It lets people bet in real time on specific moments during games. It is basically a subset of live in play betting. In this set up you can bet on the outcome of short term events rather than the end result. For example, you could bet on what will happen in the next pitch. The odds will fluctuate during the game and it makes for an exciting betting style.  European sports bettors will already be familiar with the concept. In play betting in soccer offers bets on next goal, yellow card, corner kicks and so on.

Betr, a sports micro-betting app, will debut in beta in the following weeks. Thus, the firm will use its new media investments to promote the Betr brand. The software will be released later this year as a free-to-play experience in 50 states. This is following a beta testing period. You can sign up for beta testing here https://www.betr.app/ Levy explained that “free-to-play” is more of a “tutorial” or “glimpse” into the future of fan involvement, sports betting, and micro-betting. Ultimately free to play is part of the registration, onboarding, and conversion funnel for our real-money betting experiences.

MGM and LeoVegas Merger & Impact

About MGM Resorts International

International entertainment corporation MGM Resorts International, with sites in the United States and across the world, offers a broad variety of hotels, casinos, restaurants, nightlife, and retail establishments, as well as state-of-the-art meeting and conference facilities. With a wide range of Las Vegas-inspired brands, MGM Resorts provides unforgettable, immersive experiences. There are 29 distinct hotel offers in the MGM Resorts portfolio. These include some of the most well-known hotel brands in the market. The firm is spreading throughout the United States.

Who is LeoVegas?

LeoVegas is a rapidly expanding online gambling brand with a significant presence in multiple European markets. This partnership will help MGM gain access to new players who might not have interacted with their brands, giving them an advantage over competing casinos. It also allows them to share data about customers’ in-game preferences, allowing MGM to target its marketing better towards players who might be interested in additional products like sports betting or poker. Finally, we’ll likely see some casino branding on some of MGM’s more popular TV shows in the future – perhaps as a cross-promotion/marketing tactic with LeoVegas.

The MGM and LeoVegas Merger

MGM Resorts and LeoVegas have announced that they will be merging. This is one of many mergers in recent years as casino companies are struggling to compete with technological changes while keeping their brands relevant in an increasingly competitive market. The most notable merger was Caesars Entertainment’s merger with Hyatt Hotels. The new company, Caesars, owns over 50 casinos across America under several different brand names. MGM has struggled to keep its heads above water in a hyper-competitive casino market; the company even discussed bankruptcy only months ago before plans were made to merge with LeoVegas.

Why Does It Matter?

It’s common knowledge that casinos are consolidating in brick-and-mortar establishments and online. One company has been leading the charge: MGM Resorts International. The casino giant recently finalized a $1 billion deal to purchase peer Caesars Entertainment Corporation, giving total control over two major brands: Caesars Palace on Las Vegas Strip and its online betting site, Planet 7 Casino. Overlapping businesses isn’t uncommon in business mergers, but it was an unusual pairing. The deal was particularly unique because Meruelo Group (which also owns the Chilean soccer team Universidad Católica) already owned Planet 7.

How Much Will The Industry Change?

Back in 2011, it was rare to see a significant casino brand bought out. Such deals are becoming more commonplace as casino conglomerates compete for market share. Two such organizations recently got together: MGM Resorts International has announced plans to purchase Swedish gambling giant Leovegas AB. The $4 billion deal will combine two companies with a lot in common:

both have ties to sports betting as well as operations in Macau;
both are leaders in online gaming;
both operate outside Las Vegas (LeoVegas runs out of London, and MGM is based near Detroit).
That makes some pundits question how much further change we’ll see—and whether other brands might follow suit.

What Can Casino Operators Do?

It is increasingly challenging to find ways to differentiate yourself from your competitors in a growing market. However, if you’re looking to take your casino game above and beyond expectations, then consider utilizing virtual reality in your overall strategy. Whether it’s a tabletop machine that allows players to interact with their avatar on-screen or even an entire area dedicated to VR games/rooms, you can use VR as a gateway tool that leads to bigger-ticket revenue streams.

What Does This Mean For Casino Players?

Casinos have become increasingly consolidated as brands are bought out or merged with larger companies. Several of these mergers occurred within just a few months in 2017. For example, The Rank Group, which owned PokerStars and Full Tilt Poker, merged with Oryx Gaming in March 2017. Then in June 2017, Scientific Games acquired Bally Technologies for 5 billion dollars. With MGM purchasing a 15% stake in Leovegas, there will likely be further consolidation between different casino brands to make room for newly minted giant—LeoVegas. This type of consolidation might be troubling if you were betting on one particular brand staying independent to retain your business.

Other Changes To Expect In The Future

This year has already seen some significant changes to our favorite casinos. These mergers will continue happening as more online casinos need more investment capital. This year has seen an exciting merger between Betway and Aspire Global and several changes in ownership of brands such as Ignition Casino, which is now owned by The Stars Group (formally Amaya). The growth of technology will also impact how people gamble with their mobile devices becoming ever more powerful. You should expect that we will see our current favorite games continue to be played on these mobile platforms, but new games could include augmented reality or virtual reality versions that we can access with only our phone or tablet. We may even see new types of gambling introduced – like betting on sports events via your phone!

To Conclude: Why is MGM buying LeoVegas?

This might come as a shock to some, but not everyone is on Instagram. In fact, in 2015, just 9% of people over 50 used social media. Facebook is the largest, with 68% penetration among US adults. But Instagram has more 18-29-year-olds as active users than any other platform – leaving Snapchat behind. So it makes sense that MGM and LeoVegas want to target younger gamblers through Instagram’s new IGTV feature. The deal will allow MGM Resorts International to use IGTV videos across its casino brands, including Bellagio, Mandalay Bay, Luxor, and Mirage. The company will also be able to access LeoVegas’ existing user base of 1 million followers. MGM hopes to attract younger gamblers by using these videos, but they hope that LeoVegas’ experience in video content creation will help them improve their offerings.

ICE London Returns April 2022

Almost everyone in the online gambling industry has heard about ICE, even if they haven’t actually attended yet. This massive B2B gambling business event brings together over 30,000 industry attendees from all over the world. ICE London is held every year in London’s ExCel Centre.  This event is well known for extravagant parties, and plenty of networking over drinks and canapes. However, the Covid pandemic put everything on hold for the last 2 years and that unwelcomed hiatus means this year will surely be extra charged with energy!

What is ICE London?

The International Casinos Exhibition initially allowed operators, suppliers, marketers and investors an opportunity to meet face to face with a wide range of other gaming professionals. There is a huge space dedicated to landbased casino operations. You’ll see hundreds of game terminals from industry giants from around the world. They are showcasing their latest technology and making new business connections, finalising sales and catching up with existing customers. Over the years since the event moved from West London the online casino gambling space has grown significantly too.

An Evolved Event

In our opinion as attendees for a long time; attitudes and marketing techniques have also evolved over the years. Back in the 2000’s, operator stalls were frequently hosted by scantily clad women offering free drinks and branded merchandise. Free T-shirts, keyrings and notepads filled attendees free tote bags. The event was noticeably male dominated too. Today though the stars of the show are the gaming brands themselves. Huge stands with multi-levels, dizzying displays showcasing new technology and games vie to catch attendees attention. There are fun social tournaments, games and hands on testing of the latest technology. The online gambling industry has grown so much, and with it the floorspace required to cater for all the new brands.

A great way to reflect on the industry’s growth not just in value but in maturity is the knowledge sharing that goes along with it. Panels bring to the forefront sensitive topics on problem gambling, diversity and equity in the industry.

A 2022 ICE London Party

The website itself currently promotes a sense of celebration with a fireworks background. So many strong partnerships, idea sharing and business growth bloom from face to face meetings in the gaming industry, ICE itself is a firm fixture on everyone’s business and social calendar. A time for making new acquaintances, sure. But a strong element that keeps people returning every year is the knowledge they will be regrouping with old colleagues, business partners and friends.  As the event goes on, more and more of these encounters will have a few hungover faces in attendance too!

ICE London Attendance Tips

Experienced igaming professionals will already know how to navigate this colossal industry event but if you’re new to gaming or this is your first time here’s a few tips to help you through.

  • Plan your days realistically. The space is huge! Give yourself a short break between meeting where possible – back to backs will have you running late.
  • Give yourself some free time to explore. There are always a whole range of new companies in attendance and stepping over from online to offline or vice versa is an interesting opportunity to see first hand what’s trending.
  • Check out the attendees list beforehand. Earmark in advance who you want to meet with and let people know you’ll be attending so you can book meetings if necessary.

The ICE London event will be held 12th until 14th April. For more information on attendees and to register click here