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iGaming Cloud chooses MuchBetter as new payment option to reduce fraud and increase revenues

George Miller

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iGaming Cloud chooses MuchBetter to fight fraud / increase revenues
Reading Time: 3 minutes

Payment option now accepted by selected iGaming Cloud brands

 

MuchBetter, the iGaming payments company, today announced a new partnership with iGaming Cloud (iGC), part of the Gaming Innovation Group and Payments Specialist Devcode. By choosing to offer MuchBetter as a preferred payment option across selected online sports betting, casino and skills game platforms, iGC expects to enhance fraud protection and increase commercial revenues – as well as being an early adopter of a new disruptive force in iGaming payments.

 

Available on Android and iOS now, MuchBetter allows users to make online, offline and contactless payments via their smartphone, pre-paid card or even wearable device. Funds can be transferred and received in real-time and the service was developed to meet the specific needs of modern gaming operators. MuchBetter’s unique commercial model eliminates individual transfer fees. Instead, fees are aligned to the individual net deposit value of the player. This was a vital factor in iGC’s decision to offer MuchBetter as a preferred payment option, as was its approach to fraud reduction. MuchBetter naturally eliminates many known fraud patterns, through a combination of the application’s design, device authentication (including biometric authentication) and dynamic session tokens. MuchBetter also authenticates account holders, beyond financial/payment information, and makes such additional data available to operators. This means that gaming operators have end-to-end control of their payment flow, and better understand the quality and history of the accounts they transact with. This increases trust and reduces fraud rates.

The MuchBetter payment service is technically delivered through Devcode’s PaymentIQ platform and will be rolled out by iGC brands in selected countries immediately.  Devcode’s decision to make Muchbetter part of their PaymentIQ suite of payments has been instrumental in the fast delivery of the new payments service to iGC.  In the future, MuchBetter may be adopted by other brands operated by the Gaming Innovation Group.

Altruistic is not a word you hear often in the gaming industry, but we hope to offer a service that changes iGaming payments for the better and forever,” said MuchBetter co-founder, Jens Bader. “Valued partnerships with leading gaming organisations like iGaming Cloud and Devcode will be vital in making this happen, and we’re confident that our solution directly addresses many of the biggest pain points in the market. Fraud is a perennial issue in gaming and iGaming operators will always seek new ways of increasing commercial revenues. We help with both, by flipping the traditional model of transfer fees on its head and by knowing our account holders better. Unlike cards which are linked back to accounts, electronic payment intermediaries have always been something of a blackhole of user information, thus ripe for abuse from fraudsters and cybercriminals. Not MuchBetter. We paint a more complete picture of every account holder, so that gaming operators know exactly who they’re paying out to – so that they only pay out to the accounts they trust.

First and foremost, we chose to partner with MuchBetter because we believe in the people behind the business,” said Ian Bradbury Head of payments at iGaming Cloud. “We trust in their extensive experience in the market and in their ability to deliver on their promises. Working with the team has been an engaging and collaborative process from start to finish, and it’s exciting to be at the forefront of a new wave in iGaming payments technology. I’m confident that all the brands under iGaming Cloud will see significant financial and operational benefits from accepting MuchBetter payments, especially if it does take off in the way we know it can.

 

About Devcode Payment – part of Bambora Group

Devcode Payment – part of Bambora Group, is a rapidly growing provider of payment and reconciliation solutions. We benefit from the latest technology together with domain knowledge that spans over 15 years. A good combination to build a modern, safe and efficient payment platform for the iGaming industry.

PaymentIQ is a payment platform specifically designed for the iGaming industry. We have developed, streamlined and implemented payment solutions for markets all around the world.

AccountIQ automates the reconciliation process and provides you with a transparent and detailed view of every transaction, at every phase of the money handling process.

 

About iGaming Cloud – part of Gaming Innovation Group:

Gaming Innovation Group Inc. is an emerging gambling solutions and interactive entertainment provider. The Company offers cutting-edge cloud-based services and B2B performance marketing, and owns B2C gambling operators offering games from the best-of-breed suppliers across the online sports betting and casino industry. Gaming Innovation Group operates out of Malta and is listed on the Oslo Stock Exchange under the ticker symbol “GIG”.

About MuchBetter:

MuchBetter, operated by MIR Limited UK Ltd, an FCA-licensed and regulated e-money issuer, is the new payments application for iGaming. Available on Android and iOS, MuchBetter make effortless online, offline and contactless payments throughout EMEA. Funds can be transferred and received in real-time and MuchBetter’s unique commercial model increases operator revenues while its anti-fraud features and use of best in class technology reduces risk.

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Tabcorp to Write Down its Wagering and Media Business by €605M

Niji Narayan

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Tabcorp to Write Down its Wagering and Media Business by €605M
Reading Time: 2 minutes

 

Tabcorp Holdings is going to write down its wagering and media business by at least AUD 1 billion (€605m) as a result of COVID-19 shutdowns and “the possible acceleration of retail contraction.”

The business made its announcement in a filing to the ASX Exchange, announcing that it has conducted a “review of assets” under which it plans to incur a write-down of $1 billion to $1.1 billion under its financial results for the year ending 30 June 2020.

The expected write-down is based on “potential decline in consumer confidence and increased economic uncertainty” in the wake of the pandemic and “potential acceleration of retail contraction and uncertainty regarding longer-term impacts as an indirect result of the pandemic.”

The operator expects EBITDA to be in the range of $990 million to $1 billion – down from $1.12 billion in 2019, issuing its preliminary unaudited results for the year ended 30 June 2020.

Net income is estimated to range between $267 million and $273 million for the year, excluding the non-cash goodwill impairment charges. This will be a fall of at least 31% from last year’s $396 million net income.

“COVID-19 has materially impacted our Wagering & Media and Gaming Services businesses. We are facing into a challenging and uncertain environment, and the current operating conditions and those expected into the future are relevant factors in assessing the value of the goodwill in those businesses at this time,” David Attenborough, Managing Director and CEO of Tabcorp, said.

“We remain confident in the strength and resilience of Tabcorp’s diversified portfolio of assets and are pleased that integration is now substantially complete. We are focused on supporting our people and partners during these challenging times while ensuring that Tabcorp emerges strongly post COVID-19,” Attenborough added.

Last week, Attenborough stepped down from his role as chief executive after coming under growing pressure from investors over the performance of the company.

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Bet-at-home.com Releases H1 2020 Results

Niji Narayan

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Bet-at-home.com Releases H1 2020 Results
Reading Time: < 1 minute

 

Bet-at-home.com has released its financial results for the first half of 2020. The company reported a gross betting and gaming revenue of €62.3m and EBITDA of €15.8m.

“The impact of the pandemic became noticeable from mid-March 2020, when international sporting events were canceled or postponed. In this phase, however, the demand for alternative betting offers remained almost unchanged, as customers of the bet-at-home.com group switched to esports and marginal sports,” the company stated.

“With a step-by-step resumption of playing activities in the national European football leagues in May 2020 and the postponement of important events such as the Champions League and Europa League, the usually low-revenue summer months are positively influenced. In addition, the resumption of international tennis tournaments is to be expected in the second half of 2020.

“The online gaming segment including casino, live casino, virtual sports and poker was not negatively affected by the pandemic.

“As far as the outlook for the whole year is concerned, from the current perspective the management board still expects gross betting and gaming revenue between €120m and €132m in the financial year 2020.

“The decline in gross betting and gaming revenue compared to the financial year 2019 is attributable to legal restrictions in individual markets. A potential decline in revenues due to regulatory changes in Germany can currently not be estimated and is therefore not considered.”

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Mindleap Health™ Expands its Digital Mental Health Programs for Addiction, Psychedelic Integration and Holistic Wellness

George Miller

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Mindleap Health™ Expands its Digital Mental Health Programs for Addiction, Psychedelic Integration and Holistic Wellness
Reading Time: 3 minutes

 

Mydecine Innovations Group™, is pleased to announce that its subsidiary, Mindleap Health™ (“Mindleap” or the “Company”) based in Vancouver, British Columbia, is expanding it’s digital therapeutic offerings by adding three additional programs to its platform.

Mindleap™ is working towards contributing to the evolution of mental health and enabling the mass adoption of mental health treatments across the world. In order to expand access to world-class mental health solutions, Mindleap is developing new “30-day transformation” programs that will be offered as in-app purchases on the platform this fall.

The new offerings will include comprehensive addiction, psychedelic integration, and holistic wellness programs designed to empower users to improve their wellbeing. The ability to track progress, encourage consistency through gamification will provide additional value to Mindleap users.

The Addiction Recovery Program will be led by Dr. Rick Barnett, a clinical psychologist and an alcohol and drug counselor in independent practice. Dr. Barnett has worked on the frontlines of addiction treatment for over 20 years with a variety of populations in diverse settings. He is an expert in addictive disorders and treatment, working every day to help clients change and improve their lives. Dr. Barnett has a unique ability to blend multiple approaches in meaningful ways to address and recover from numerous types of addictive behaviors (alcohol, drugs, food, sex, nicotine, gambling).

Equipped with advanced education and training in psychopharmacology, Dr. Barnett has served in numerous leadership roles both locally and nationally related to addiction, mental health, and health care reform. He is also the founder of the Center for Addiction Recognition Treatment Education and Recovery (CARTER, Inc), a 501c3 private non-profit organization dedicated to the art and science of achieving lifelong freedom from addiction. The goal of CARTER, Inc. is to transform addiction into enduring health and well-being, a value which has become the cornerstone to his Mindleap program.

The Psychedelic Integration program will be led by Dr. Danielle Wise who brings over 20 years of experience as a psychotherapist and coach, utilizing myriad techniques with a unique specialization on psychedelic integration. Dr. Wise’s clinical focus is primarily centered on relational trauma, combining depth and somatic psychology, neuroscience, and psychedelic research.

Dr. Wise has completed the Psychedelic Research and Training Institute’s (PRATI) comprehensive Ketamine and Psychedelic Medicine Training, which provides practical tools for eliciting transformational sessions and holistic and integrative tools for mental health support.

An avid decriminalization advocate, she is part of the Denver psilocybin decriminalization initiative and the founder of Women’s Leadership in Psychedelics with the Nowak Society, a non profit that provides education, training, and community building around right relationship with psychedelics and psychopharmaceuticals.

Dr. Wise also serves on the advisory board of Unlimited Sciences a psychedelic research non-profit combining data and lived experiences to serve the community, educate the public, and inform policies. Her 30-day program will offer an embodied integration journey with self care practices and contemplations that will assist users in achieving personal transformation for lifelong wholeness making.

The Holistic Wellness program will be led by Jeremy Hoffman who is an experienced spiritual leader that uses innovative modalities including energy clearing, activations, meditation, breathwork to support his clients in achieving harmony of the mind, body and spirit.

Hoffman is renowned internationally for his holistic wellness coaching, and currently works with C-Suite level executives and business leaders to assist them in achieving spiritual balance and fulfillment in their lives. Cultivating the steps that allow people to operate in life with an upgraded mindset and perspective, Hoffman will be sharing his insights on physical, mental, emotional, and spiritual health in his Mindleap program.

Mindleap’s founder Nikolai Vassev commented: “Our focus is on creating real solutions for the mental health crisis and these new offerings will allow Mindleap to have international reach and affect more lives during these times of crisis. The pandemic has left people depressed, isolated and support is needed now more than ever.”

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