Industry News
The Real Worth of Malta’s iGaming Industry
The original source of the information found beneath was created by Rebecca Anastasi (MaltaChamber.org.mt) – View original source here.
Malta’s iGaming sector contributes over 12 per cent of the country’s GDP. Does it have a knock-on effect in the economy?
The official figures about online gaming industry reveal overall prosperity, high employment and revenue rise. Its worth is estimated roughly to be €1.2 billion, or over 12 per cent of its GDP. However, but these direct effects tell only part of the story. The iGaming industry has also positively affected the other industries in the country as well.
Leisure and entertainment
The rise of iGaming has “coincided with the increase of affluent business professionals on the island”, according to Jon Grafton, Creative Marketing Manager for Azure and Azure Ultra – an outfit which organises yacht charters. Mr Grafton says that the industry sees chartering a yacht “as an ideal way to spend leisure time and de-stress.” He estimates that around 20 per cent of Azure Ultra’s business comes from those involved in iGaming, from professionals seeking to book a private charter or from businesses organising team-building exercises. “The increased demand has had a positive impact on our bottom line, which we plough back into the business through purchasing more yachts and employing more captains and crew,” Mr Grafton explains.
Indeed, as a result of the increased business, the agency has created tailor-made charter packages for the sector, since “iGaming-oriented bookings tend to include a lot more special requests in terms of cuisine, water-sport activities and themed itineraries, such as famous film locations around the Maltese archipelago,” he says. Moreover, the company has had to become more flexible to accommodate last-minute changes, and bookings, in order to keep up with the demands from the sector. The team also now includes a specialist charter executive “who is a wiz at creating bespoke charter packages.”
While Azure is experiencing an increased demand for specialised on-board catering and services, such as massages or water-sports instruction, which do come as an extra cost, it is careful to ensure that its prices are fair. “Our prices are always right because we – quite uniquely among Malta yacht charter companies – own our own yachts and they’re all fully insured,” Mr Grafton says. In the future, the company plans to keep building on this success, offering corporate conference packages at sea. “iGaming has a great need for variety and excitement, and that’s what we’ll offer,” Mr Grafton asserts.
Back on dry land, catering establishments in the main entertainment areas of Valletta, Sliema and St Julian’s seem to be constantly pounding with patrons, with tables often difficult to secure, unless you have a booking. Robert Bonnici, PR and Marketing Manager for the ubiquitous Hugo’s brand, underlines this “positive effect” on the industry. Not only do professionals working in the iGaming sector “frequent our venues on a regular basis, but their spend is often much higher than average,” he explains. Moreover, there has been a demand for corporate functions and private events catering to the local and international iGaming community according to Robert.
Andrew Galea, the Sales and Marketing Manager of hotel Group Corinthia, adds that while the company picks up some business for corporate and social events, as well as some hotel bookings for visiting delegates, the business accrued during industry conferences, such as Sigma, is what really makes a difference to the company’s bottom line, with many delegates staying in the hotel. Indeed, the remote gaming sector is a market the Group is very interested in. “We are currently in the process of promoting the range of services Corinthia possesses, not only in terms of hotel rooms, but also ancillary entertainment services such as restaurants, bars and event venues,” Mr Galea says.
IT infrastructure
As a sector which relies heavily on technology, iGaming requires high-level resources and services. Computime Software, a company which specialises in providing IT infrastructure, software and business solutions, is one stakeholder which supplies such products and capabilities to businesses operating in Malta’s online gaming industry.
John Wood, the company’s CEO, says that the company has seen a positive multiplier effect arising from the increased business with iGaming companies. “The sector attracts large multinational iGaming operations which create demand for the software and infrastructural solutions which we deliver,” he states, going on to assert that this accounts for “currently, approximately 15 per cent of our revenue.” The most common solutions on-demand are IT engineering and infrastructural solutions, IT security products and services, and software solutions focused on compliance monitoring and marketing optimisation, he explains.
He also notes that iGaming clients demand sophisticated solutions and, as a result, the market “provides us with an opportunity to develop our business, and to adapt our solutions by widening our product portfolio with a clear focus on servicing iGaming companies.” Indeed, he explains the changes in the type of solutions the company is currently offering, specifying that Computime is customising its software solutions to meet the specific demands of the iGaming sector, enabling them to deliver a quick return-on-investment to their clients. Other changes the company has instituted include adapting its client onboarding process to make sure “we only do business with reputable and established iGaming companies”, allowing the company to better manage its payment and credit terms, along with the other business risks inherent in such an enterprise.
Insurance
The meteoric rise of the iGaming industry has also resulted in a demand for ancillary corporate services in a variety of fields such as insurance. “Remote gaming has provided a lot of potential to prove our mettle in managing the varied and sometimes complex insurance requirements that the Gaming industry needs,” says Malcolm Ellul, Associate Director of Mediterranean Insurance Brokers, specifying that it now manages a sizable gaming portfolio, which is growing rapidly in size.
While Mr Ellul admits it is hard to establish the percentage of MIB’s business derived directly from the iGaming sector, he claims that the requirements are broad and range from “the direct insurances taken out by the business operators themselves” to “affinity and benefit schemes for employees.” In the future, the company hopes to attract even more interest, and, to this end, it has started attending Gaming-related conferences locally and overseas, and “plans to remain a market leader in providing insurance arrangements for the gaming Industry” since “gaming falls within the natural growth process of the Group,” Mr Ellul asserts.
Indeed, this seems to be the trend, for as Malta continues to attract further investment in the field of iGaming, businesses in attendant sectors are gearing up to continue offering the specialised resources to the sector, thus enabling Malta to retain its competitivity and its winning streak.
Source: MaltaChamber.org.mt
Industry News
Europe Sports Betting Market Size, Share & Trends Analysis Report 2024-2030 Featuring Bet365, William Hill, Betfair, Paddy Power, 888sport, Bwin, Unibet, Ladbrokes, MGM, and Betsson
The “Europe Sports Betting Market Size, Share & Trends Analysis Report by Type, Platform, Sports Type (Football, Basketball, Baseball, Horse Racing, Cricket, Hockey, Others), Country, and Segment Forecasts, 2024-2030” report has been added to ResearchAndMarkets.com’s offering.
The Europe sports betting market size is anticipated to reach USD 65.54 billion by 2030 and is expected to expand at a CAGR of 9.9% from 2024 to 2030
The globalization of sports and the integration of international leagues and tournaments into European betting markets have fueled the growth of sports betting. Major sporting events such as the FIFA World Cup, UEFA European Championship, Wimbledon, and the Olympics attract widespread attention and betting interest from European consumers, driving significant betting volumes and revenues for sports betting operators, thus driving the growth of the sports betting market in Europe.
The COVID-19 pandemic had a negative impact on the European sports betting market. The cancellation or postponement of sports events during the pandemic restrained the market growth. With major tournaments, leagues, and competitions either suspended or canceled outright, the absence of live sports events severely diminished consumer betting opportunities. It led to a significant decline in betting volumes and revenues for sports betting operators.
The presence of favorable betting policies in the region is driving the growth of the sports betting market in the region. Many European countries, such as the UK, Ireland, Denmark, and France, have progressive policies promoting a competitive and well-regulated betting market. It facilitates the entry of new operators into the market and encourages competition, leading to innovation, improved services, and better value for consumers.
Moreover, established responsible gambling initiatives and regulatory bodies in Europe, such as the European Gaming & Betting Association, help build trust and confidence among consumers by promoting responsible gambling practices, ensuring fairness and transparency in betting operations, and providing avenues for dispute resolution, to protect consumers and maintain the integrity of the betting market, thus driving the growth of sports betting market in the region.
Europe Sports Betting Market Report Highlights
- Based on the type of betting, the fixed odd wagering segment accounted for the highest revenue share of 27.7% in 2023 due to the stability and predictability of the payouts
- Based on platform, the online segment dominated the market in 2023 and is expected to grow at a significant CAGR from 2024 to 2030. It can be attributed to the collaborations between sports teams, leagues, and betting companies, thus increasing the visibility of sports betting and attracting a larger customer base.
- In terms of sports type, the football segment accounted for the largest revenue share in 2023. It can be attributed to the popularity of football in Europe due to popular football clubs like Real Madrid, Liverpool FC, FC Barcelona, and Manchester United.
- The UK held a significant share of 34.6% in 2023 and is expected to grow at a significant CAGR during the forecast period. Favorable gambling policies in the country drive the market’s growth.
Company Profiles
- Bet365
- Ali William Hill
- Betfair
- Paddy Power
- 888sport
- Bwin
- Unibet
- Ladbrokes
- MGM Resorts International
- Betsson
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 80 |
| Forecast Period | 2023 – 2030 |
| Estimated Market Value (USD) in 2023 | $33.75 Billion |
| Forecasted Market Value (USD) by 2030 | $65.54 Billion |
| Compound Annual Growth Rate | 9.9% |
| Regions Covered | Europe |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Europe Sports Betting Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Market Dynamics
3.2.1. Market driver analysis
3.2.1.1. Increasing number of sport events
3.2.1.2. Growing number of sporting events and leagues in Europe
3.2.2. Market restraint analysis
3.2.2.1. Lack of unified regulations
3.2.3. Market opportunity analysis
3.2.3.1. Growth in E-sports audience
3.3. Europe Sports Betting Market Analysis Tools
3.3.1. Industry Analysis – Porter’s
3.3.2. PESTEL Analysis
Chapter 4. Europe Sports Betting Market: Platform Estimates & Trend Analysis
4.1. Platform Market Share, 2023 & 2030
4.2. Segment Dashboard
4.3. Europe Sports Betting Market by Platform Outlook
4.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030
4.4.1. Offline
4.4.2. Online
Chapter 5. Europe Sports Betting Market: Type Estimates & Trend Analysis
5.1. Type Market Share, 2023 & 2030
5.2. Segment Dashboard
5.3. Europe Sports Betting Market by Type Outlook
5.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030
5.4.1. Fixed odds wagering
5.4.2. Exchange Betting
5.4.3. Live/In Play Betting
5.4.4. eSports Betting
5.4.5. Others
Chapter 6. Europe Sports Betting Market: Sports Type Estimates & Trend Analysis
6.1. Sports Type Market Share, 2023 & 2030
6.2. Segment Dashboard
6.3. Europe Sports Betting Market by Sports Type Outlook
6.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030
6.4.1. Football
6.4.2. Basketball
6.4.3. Baseball
6.4.4. Horse Racing
6.4.5. Cricket
6.4.6. Hockey
6.4.7. Others
Chapter 7. Europe Sports Betting Market: Regional Estimates & Trend Analysis
7.1. Regional Market Share Analysis, 2023 & 2030
7.2. Regional Market Dashboard
7.3. Regional Market Snapshot
7.4. Market Size, & Forecasts Trend Analysis, 2018 to 2030
7.4.1. UK
7.4.2. Germany
7.4.3. France
7.4.4. Italy
Chapter 8. Competitive Landscape
8.1. Recent Developments & Impact Analysis, By Key Market Participants
8.2. Company/Competition Categorization
8.3. Vendor Landscape
8.3.1. List of key distributors and channel partners
8.3.2. Key customers
8.4. Company Profiles
For more information about this report visit researchandmarkets.com
Industry News
Leading online slot developer announces launch of Snoop’s High Rollers which will go live exclusively with popular crypto sportsbook and casino
Gaming Corps, a publicly listed game development company based in Sweden, has signed a major deal that will see it launch an exclusive slot game in collaboration with rap legend, Snoop Dogg. The game will drop exclusively on Roobet, the online casino where Snoop Dogg is a brand ambassador.
Snoop Dogg needs no introduction. He made his music industry debut when he appeared on Dr Dre’s 1992 album, The Chronic, and has since sold more than 50 million albums worldwide. He’s also made several movie and TV show appearances, making him one of the most iconic artists of all time.
The game is “Snoop’s High Rollers” and allows players to experience what it’s like to live life as a music legend. The soundtrack is inspired by Snoop’s early and later works and the main man has also narrated parts of the game to really bring it to life.
Snoop has also played a part in creating the gameplay, hand-picking mechanics and bonus features to really put his stamp on the game. Roobet has also got in on the action, leading to a unique online slot that will soar to the top of the charts among its players.
Snoop’s High Rollers will make its debut exclusively on Roobet, the crypto casino and sportsbook that has taken the market by storm since its launch in 2019. The casino’s team has put a comprehensive marketing strategy behind the game with plans to use it to drive new customer acquisition at scale.
“It is with much pride that we at Gaming Corps have had the chance to develop a game in close collaboration with Snoop Dogg and Roobet, where we have combined our unique gaming perspective with Snoop Dogg’s unparalleled style and charisma,” Juha Kauppinen, Gaming Corps CEO, said:-
“Our vision is to offer players an experience where music, culture and gaming merge into something extraordinary. Our close collaboration with Roobet has enabled us to do the impossible, namely world-class marketing, game release is planned for 20 of April. We’re thrilled, and discussions are already underway about several game concepts!”
Anthony Brennan, Head of Partnerships at Roobet, added: “Roobet loves pushing the envelope and never flinches at an opportunity to bring iGaming and pop culture together. Snoop loves his game, we love the game, and we’ve been delighted at the experience of building something that feels fresh in an industry full of remixes.
“We can’t say enough nice things about the Gaming Corps team, and we’re excited to hear what the gaming community has to say!”
IDnow, a leading identity verification provider in Europe, has unveiled VideoIdent Flex, a new version of its expert-led video verification service that blends advanced AI technology with human interaction. The human-based video call solution, supported by AI, has been designed and built to boost customer conversion rates, reduce rising fraud attempts, increase inclusivity, and tackle an array of complex online verification scenarios, while offering a high-end service experience to end customers.
The company’s original expert-led product, VideoIdent, has been a cornerstone in identity verification for over a decade, serving the strictest requirements in highly regulated industries across Europe. VideoIdent Flex, re-engineered specifically for the UK market, represents a significant evolution, addressing the growing challenges of identity fraud, compliance related to Know-Your-Customer (KYC) and Anti-Money Laundering (AML) processes and ensuring fair access and inclusivity in today’s digital world outside of fully automated processes.
As remote identity verification becomes more crucial yet more challenging, VideoIdent Flex combines high-quality live video identity verification with hundreds of trained verification experts, thus ensuring that genuine customers gain equal access to digital services while effectively deterring fraudsters and money mules. Unlike fully automated solutions based on document liveness and biometric liveness features, this human-machine collaboration not only boosts onboarding rates and prevents fraud but also strengthens trust and confidence in both end users and organisations. VideoIdent Flex can also serve as a fallback service in case a fully automated solution fails.
Bertrand Bouteloup, Chief Commercial Officer at IDnow, said: “VideoIdent Flex marks a groundbreaking advancement in identity verification, merging AI-based technology with human intuition. In a landscape of evolving fraud tactics and steady UK bank branch closures, our solution draws on our decade’s worth of video verification experience and fraud insights, empowering UK businesses to maintain a competitive edge by offering a white glove service for VIP onboarding. With its unique combination of KYC-compliant identity verification, real-time fraud prevention solutions, and expert support, VideoIdent Flex is a powerful tool for the UK market.”
Whereas previously firms may have found video identification solutions to be excessive for their compliance requirement or out of reach due to costs, VideoIdent Flex opens up this option by customising checks as required by the respective regulatory bodies in financial services, mobility, telecommunications or gaming, to offer a streamlined solution fit for every industry and geography.
Bouteloup added: “Identity verification is incredibly nuanced; it’s as intricate as we are as human beings. This really compounds the importance of adopting a hybrid approach to identity – capitalising on the dual benefits of advanced technology when combined with human knowledge and awareness of social cues. With bank branches in the UK closing down, especially in the countryside, and interactions becoming more and more digital, our solution offers a means to maintain a human relationship between businesses and their end customers, no matter their age, disability or neurodiversity.
“VideoIdent Flex is designed from the ground up for organisations that cannot depend on a one-size-fits-all approach to ensuring their customers are who they say they are. In a world where fraud is consistently increasing, our video capability paired with our experts adds a powerful layer of security, especially for those businesses and customers that require a face-to-face interaction.”
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