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The future of Caribbean online gambling

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The Caribbean is an abode to numerous incredible casinos, from the majestic Atlantis Casino in the Bahamas to the several brick-and-mortar casinos in the Puerto Rico. The online gambling industry in the Caribbean outshines the land-based casinos and is comparatively far more influential. The Caribbean which is home to various companies that host websites where players across the world are enabled to engage in real money casino games at Wild jack casino, one of the preponderant online casinos. Recent estimates emphasise that global revenue from this sector will add up to approximately $635 billion by the year 2022, which highlights the potential of this industry which cannot be neglected.

Beginnings of online gambling

The world of online gambling took off in Antigua and Barbuda with the passage of the Free Trade and Processing Act in 1994, which allowed licenses to be granted to companies looking to start online casinos. In the same year a collaboration to set up an online casino business was forged between Microgaming, based in the tax haven nation of Isle of Man, which provided the technological framework for an online setup, and CyptoLogic, an Irish company which provided the financial capital for the venture.

Since the humble beginnings of online gambling in 1994, Antigua and Barbuda have attained the status of international leaders in the sector, with several prominent companies like Titan and Sportsbook having licensed themselves in the nation. These companies have achieved considerable financial success in the global online gambling market, and have even listed themselves on the London Stock Exchange, bringing considerable tax revenue to the Antigua and Barbuda. Following in Antigua and Barbuda’s footsteps, other nations such as Curacao, Nevis and Aruba have also started liberal licensing regimes for gambling companies.

Legal status

The Free Trade and Processing Act provided for licensing for both interactive games like online casinos, as well as interactive wagering, which is applicable for sports betting. However, all nations do not afford the same treatment to both forms of gambling. Similarly, online casinos exist in an unregulated legal grey area in many jurisdictions, for instance land-based casinos are banned in Barbados, but a similar prohibition does not exist for online gambling.

Other Caribbean nations have resorted to differential treatment between citizens and foreigners, being drawn to the burgeoning tax revenues and increased tourism from a liberal gambling regime. For instance, Bahamians are prohibited from gambling in any of the land-based casinos, which attract thousands of tourists each year.

What lies ahead?

The online gambling industry has grown steadily since the passage of the 1994 Act in Antigua and Barbuda, giving the region considerable clout on the international stage, to the extent that the nation did not shy away from successfully bringing a complaint to the WTO against the United States in 2005. The case revolved around how the US had violated free trade rules by restricting its citizens from accessing online gambling websites based in Antigua and Barbuda.

With the advent of smartphones and easily accessible internet connections, the online gambling industry is likely to continue to exhibit exponential growth, with considerable potential for growth in the Caribbean through the liberalisation of the Cuban markets, as well as taxation of gambling activities operating in legal grey areas. In any case, the future of online gambling is likely to continue to have the Caribbean at the forefront.

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HIGHLIGHT GAMES TO LAUNCH SPFL GAME

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HIGHLIGHT GAMES TO LAUNCH SPFL GAME
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London-based video virtual sports specialist Highlight Games Limited today announces that it has acquired rights to use archive footage from the Scottish Professional Football League.

Further to the multi-year agreement, Highlight Games will release a suite of games featuring Scottish football, including a new iteration of its highly successful SOCCERBET game and a range of instant win games.

Games will feature favourite teams and players from the last 25 years including the “Old Firm” Derby – Celtic, Rangers, plus other SPFL Clubs including Aberdeen, Motherwell, Hearts, St Johnstone, Livingston, St. Mirren, Hibernian, Dundee United, Dundee, Ross County, and more. Games will be available in UK retail locations and online both in the UK and in regulated international territories.

‘I’m delighted to announce Highlight Games’ acquisition of rights to the SPFL, which will further extend its portfolio of games and content,’ said Nick Gardiner, Co-CEO, Highlight Games. ‘Our award-winning SOCCERBET product has proven to be highly successful in the territories in which it is now live – in Italy the SOCCERBET Serie A game now accounts for over 50% of all virtual sports bets placed with operators with which it is live – and we have ambitions to replicate this success in the UK with this new SPFL game.’

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Socios.com To Be Official Partner Of The 2021 Ballon D’or Awards

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Socios.com To Be Official Partner Of The 2021 Ballon D’or Awards
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Socios, the all-in-one influence and rewards app for sports fans across the world, will be Official Partner of the 2021 Ballon d’Or Awards, which will mark the return of football’s most desired individual recognitions after last year’s edition was cancelled due to the pandemic.

The creators of Fan Tokens have reached an agreement with Amaury Média, the Amaury Group’s advertising department : L’Équipe (newspaper, magazine), L’Équipe website, L’Équipe mobile app, la Chaine L’Équipe, France Football, le Journal du Golf, Vélo Magazine and le Ballon d’Or.

Socios will have brand visibility on the Red Carpet, where the biggest figures in world football will be shining next Monday, November 29th, as they make their way to the Parisian Théâtre du Châtelet, on the banks of the River Seine, where the ceremony will take place.

Socios will also host two photobooths in which the 750 guests attending the ceremony will be able to take a picture with the iconic trophy and have the chance to earn a Fan Token from one of the platform’s 100+ partners.

Alexandre Dreyfus, Founder and CEO of Socios, said: “We are delighted to be partnering with the Ballon d’Or, the most prestigious individual awards ceremony in football, and to be part of a ceremony that has become one of the most anticipated events in the sports calendar.

“Socios was created to bring fans closer than ever to their heroes, and the Ballon d’Or is the event that gathers football’s biggest stars, so it’s a perfect combination.”

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Falcon Edge, DST Global, D1 Capital and RedBird Capital lead $840 Million investment in Dream Sports at $8 Billion valuation

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Falcon Edge, DST Global, D1 Capital and RedBird Capital lead $840 Million investment in Dream Sports at $8 Billion valuation
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Dream SportsIndia’s leading sports tech company with brands such as Dream CapitalFanCodeDream11DreamSetGoDream Game Studios, and DreamPay in its portfolio, announced the completion of an investment of $840 Million at an $8 Billion valuation, led by Falcon Edge, DST Global, D1 Capital, RedBird Capital and Tiger Global. The round also saw participation from existing investors like TPG and Footpath Ventures, making it amongst the largest investments globally in the sports tech sector.

Dream Sports, with an existing user base of 140 million Indian sports fans, is on a mission to build one of the world’s largest sports ecosystems which includes Sports Content, Commerce, Experiences, Fan Engagement (including Sports Gaming and Esports), Web 3.0 solutions, Fantasy Sports and Fitness Tech. Earlier this year, Dream Sports further strengthened its commitment to this space by announcing a corpus of $250 Million through its CVC and M&A arm, Dream Capital. Dream Capital has built an initial portfolio of 10 companies, largely focusing on thematic early stage investments in India, including, Fittr, SoStronkKheloMore and Elevar. Dream Capital is now expanding its sports, fan engagement and fitness portfolio in India and globally.

Commenting on the investment, Harsh Jain, CEO and Co-Founder, Dream Sports said, “Our vision and mission is to create an entrepreneur-led virtuous cycle of investment, innovation and wealth creation for all stakeholders in the sports ecosystem, from fans to athletes, teams and leagues. Our investors have deep experience in developing sports ecosystems globally, and we are fortunate to have their guidance to ‘Make Sports Better’ for 1 Billion Indian sports fans.”

“We’re excited to partner with the Dream Sports family in their vision of building the leading end-to-end sports tech company in India,” said Rahul Mehta, Managing Partner at DST Global. “We’re very impressed with their customer centric approach, product strategy and ability to strengthen connections between fans and their favorite sports.”

A homegrown company founded in 2008 by Harsh Jain and Bhavit Sheth, Dream Sports is located in Mumbai and employs close to 1,000 ‘Sportans’.

Avendus Capital was the exclusive financial advisor to Dream Sports on the transaction.

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