Industry News
The Challenges Facing the Online Gambling Sector with the Possible Impending Ban on Credit Card Transactions
The Gambling Commission (GC) is currently considering whether to ban the use of credit cards in online gambling transactions, so turbulent times may lie ahead for online operators. The culture secretary, Jeremy Wright has voiced plans to haul bookmakers and major retail banks into meetings to discuss the use of credit cards being used for gambling purposes, and his proposal comes on the back of startling statistics which reveal as many as 20% of deposits are coming from consumers who do not directly have access to the funds in which they’re using.
The Labour Party has also stated that should they gain power in the next general election, they would impose a ban on gambling with credit cards. GC requested evidence from numerous operators at the start of 2019 and later confirmed that they’d be holding a twelve-week consultation which began sometime in August. Several key interest points were detected around the use of credit cards in gambling online and these included:
- Alternative forms of gambling to determine whether consumers are borrowing in the form of overdrafts or loans and if this was the case, both financial and gambling sectors would need to work together to protect customers from harm.
- E-wallets: many operators have no means of knowing where the funds have come from when deposits are being made through this funding source. Future proposals would require those e-wallet services to take necessary action if regulatory measures are introduced.
Harry Christodoulou, the founder of Bingofind, who’s been covering this issue with other publications said: “We’ve been talking to affiliates from the iGB community trying to see how they plan to handle this potential issue, but they don’t seem to be that worried, for now.”
Any Impact on Land-Based and iGaming Operators?
There is one major advantage when it comes to using a credit card for gambling transactions and this is the fee that consumers face when making a deposit. The vast majority of players seek the methods which allow them to bypass this fee and this means alternative deposit methods such as debit cards and e-wallets, both of which require there to be funds in the account or you can’t use them. There is a mass speculation surrounding credit cards and problem gambling with many charities worrying that gambling with credit cards can encourage people to gamble beyond their financial means. A shocking statistic from Totally Money and Defaqto revealed how consumers had raked up a staggering £23.8 million solely in interest and transaction fees by the use of credit cards during the 2018 World Cup. Britons wagered £2.5 billion on the football tournament and 20% of this sum derived from credit card payments.
A period of uncertainty is circulating the gambling sector and as a result, PayPal, one of the world’s leading e-wallet services has pulled their services from German online casino players, will they do the same here in the UK? We’re fortunate to have one of the most regulated markets in the world, so the likelihood of this happening is slim. A domino-effect could take hold across Germany; if one e-wallet has shut down their services, many others a likely to follow suit; PaysafeCard etc could follow suit and the German gambling market could come under close scrutiny once again.
Regulations are there for a reason and most operators welcome them, even if they could hurt them in the long run, but if they stop under-age gambling and put an end to problem gambling, then they can’t be all bad. The outcome of the GC consultation on the use of credit cards in gambling is due to surface mid-November.
Casino Games
BetMGM is launched in the Netherlands, bringing an authentic Vegas experience to the Dutch market
The golden Vegas offerings and entertainment of BetMGM is coming to the Netherlands, following a successful launch in the UK. BetMGM will offer a best-in-class Las Vegas experience to deliver a new golden era of online casino and sports betting in the Netherlands. Leveraging LeoVegas Group’s proprietary technology and platform, the launch marks a significant step in the brand’s international expansion.
BetMGM, the entertainment and sports brand known for its golden offerings and authentic Vegas experience, is launching in the Netherlands. The new brand is set to provide customers with exciting new product features, including large-scale jackpots, loyalty rewards, exclusive slots, as well as unique and compelling sports promotions. Utilising LeoVegas Group’s proprietary technology and platform, this expansion into the Dutch market represents the second European launch, succeeding a well-received rollout in the United Kingdom.
Gary Fritz, President of MGM Resorts International Interactive, said “We are thrilled to launch BetMGM in the Netherlands and build on BetMGM’s successful expansion into global markets. The Dutch market offers an exciting opportunity and will be an important part of our international expansion efforts and strategy to become a global gaming leader.”
Gustaf Hagman, Group CEO at LeoVegas Group, said “Our launch in the UK was tremendously successful, and we eagerly anticipate bringing the golden Vegas experience to the Netherlands. This launch in the Dutch market is an important step in our international expansion, but we have much more in store.”
Industry News
“Royal Flash” Unveiled by PopOk Gaming – An Exciting Journey Back to Classic Slot Gaming!
PopOK Gaming, a trailblazer in the world of iGaming, is happy to announce the launch of their latest slot game, “Royal Flash.” This classic-style slot game takes players on a fruity escapade, promising an exhilarating journey filled with excitement and grand wins fit for royalty.
Drawing inspiration from traditional fruit machines, “Royal Flash” exudes classic charm with its timeless design and iconic symbols. Set across 5×3 reels and featuring 10 paylines, this game is adorned with familiar fruit symbols such as strawberries, cherries, grapes, and the illustrious Seven symbol.
But the real excitement lies in the gameplay – each Wild symbol that graces the reels expands to form a Wild reel, ramping up the intensity and offering thrilling win potential with every spin. Additionally, keep a keen eye out for the coveted gold bar symbol; landing three or more unlocks a prize from any position on the reels, adding an extra layer of thrill to your gaming experience.
Players can expect to bask in the glory of majestic wins, with the opportunity to claim up to 1,500 times their bet in this modernized twist on a retro-inspired classic. Whether you’re a seasoned slot enthusiast or a newcomer to the world of gaming, “Royal Flash” promises an unforgettable adventure filled with excitement, thrills, and the chance to win big!
Experience the Majesty of “Royal Flash” Today!
Industry News
NuxGame’s Aggregation Platform shortlisted in EGR B2B Awards
NuxGame, the experienced betting and casino software provider, has been recognised at this year’s EGR B2B Awards, receiving a nomination for its Aggregation Platform.
The EGR B2B Awards is one of the most esteemed events in the industry and this shortlisting solidifies NuxGame’s status as a leading casino software supplier and a one-stop shop for casino operators.
Winners are to be selected by a panel of industry experts ahead of the ceremony at The Roundhouse in London on 13th June.
NuxGame’s aggregation platform boasts over 13,600 slots titles from 135 leading providers, which has recently been bolstered thanks to partnerships with the likes of 3 Oaks Gaming, Vivo Gaming and Hacksaw Gaming.
The nomination follows a strong year for the provider, which has made strides in player retention and acquisition tools for its aggregation platform customers with features such as free spins, network tournaments, live streamer promotions and custom thumbnails.
This latest development for NuxGame serves as a testament to its philosophy of staying ahead of the tech curve and harnessing the latest technologies to provide a bespoke and customer-centric service.
Denis Kosinsky, Chief Operating Officer at NuxGame, said: “The EGR B2B Awards is one of the most important dates in the iGaming calendar, so we are honoured that our leading casino aggregation platform has been shortlisted.
“It’s fantastic to be recognised in these prestigious awards, as we are dedicated to delivering the most innovative casino game aggregation platform for our customers.”
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