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A Swell of Support Helps Expand the Online Betting Industry

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A Swell of Support Helps Expand the Online Betting Industry
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The sports betting market continues to gain popularity among people of all generations, especially as online betting is gradually becoming more mainstream. To illustrate the importance of this segment, data provided by a Zion Market Research report indicates that sports betting holds about 70% of the global gambling revenue, which is more than any other sectors, including those of lotteries, casinos, and poker, among other forms of gambling. As for which sports are the most popular, various games around the world are common among the sport betters, but European football attracts the greatest betting revenue, and is then closely followed by baseball. Of course, it has to be noted that numerous technological developments have helped propel the market to new highs. The stronger presence of online betting has completely transformed the process of sports betting, making it easier, faster and more convenient to place bets. On the other hand, the strict regulations by various governments are still an obstacle for the online market. Nevertheless, according to the report, the global sports betting market was valued at around USD 104.31 Billion in 2017 and is expected to reach approximately USD 155.49 Billion by 2024 while growing at a healthy CAGR of 8.83% between 2018 to 2024. FansUnite Entertainment Inc. (CSE: FANS), GAN Limited (NASDAQ: GAN), Boyd Gaming Corporation (NYSE: BYD), International Game Technology PLC (NYSE: IGT), Scientific Games Corporation (NASDAQ: SGMS)

Despite legal restrictions, regionally and country wise, in 2018 the market had already produced more than USD 48.9 Billion in worldwide revenue and is projected to expand past USD 134.5 Billion by 2027, according to data provided by Transparency Market Research. After the landmark Supreme Court ruling in 2018, in which the court struck down the ban on sports betting, all states got the option to pursue legalization. The state of New Jersey was the first to make sports betting legal. Other states followed, but California remains a legal battle ground for this gambling segment. However, a change might be possible this November. State Senator Bill Dodd (D-Napa) and Assembly Member Adam Gray (D-Merced) have been working on an amendment to the state’s constitution that will go on the ballot in November, if it can get through both houses. “I think the leagues themselves are really the experts when it comes to keeping integrity of the games,” Assembly Member Gray explained in a report by NBC Sports Bay Area. “Obviously, in our proposal we’ve banned any high school sports betting and as we put the finishing details on this over the next few weeks it’s going to be important that those leagues engage with us on those final details to make sure that we have the highest quality product with the highest quality standards. And although they have been a little timid, I know that many out there in the sports world know that the future of the sports economy could be integrally tied to the success of sports wagering, fantasy sports and other activities.

FansUnite Entertainment Inc. (CSE: FANS) and Askott Entertainment Inc. just announced breaking news that two companies, “have entered into a definitive amalgamation agreement (the “Agreement”) to create one of Canada’s leading online gaming companies, focused on sports betting, esports wagering and casino games. Under the terms of the Agreement, FansUnite will acquire all of the outstanding securities of Askott by way of a three-cornered amalgamation (the “Transaction”) pursuant to which Askott and a newly incorporated subsidiary of FansUnite will amalgamate under the Business Corporations Act (British Columbia) and continue as one corporation.

Combined Company Highlights

Expanded Consumer Base. The combined FansUnite and Askott will have four live business-to-consumer (“B2C”) platforms that have generated over CDN$350 million in wagers since inception and will have over 300,000 registered members;
Expanded Business Base. FansUnite and Askott will have four executed business-to-business (“B2B”) contracts, two of which are currently live and generating revenue with leading esports companies;
Expanded Betting Offerings. Two esports themed casino games which will be released on multiple casino games aggregators platforms this year with more games currently in development;
Increased Gaming Licenses: Applications have been completed for gaming licenses for B2C and B2B;
Established History of Operations: Askott has been in business since 2013, working closely with tier 1 partners around the world; and
Highly Accomplished and Experienced Team: The completion of the Transaction will add a team with decades of experience in esports, sports betting, casino, poker, licensing, government relationships and transactions to develop shareholder value.
According to a recent report by Grandview Research1, the global online gambling market size was valued at USD 53.7 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 11.5% from 2020 to 2027.

‘As the online gambling market continues to grow, the amalgamation with Askott is a significant milestone and transforms us into one of Canada’s premier iGaming companies,’ said Darius Eghdami, CEO of FansUnite Entertainment. ‘Combining with Askott provides us with a fully integrated gaming asset that offers multiple B2C platforms for users in a variety of betting offerings, B2B technology that can be licensed to all types of sportsbooks, and a seasoned team of executives that have led and grown multiple organizations on a global scale. This combination creates a leading online igaming company, and positions us strongly for significant growth with new offerings and market opportunities.’

‘We are recognized globally as a leader and pioneer in esports betting technology,’ said Scott Burton, CEO of Askott Entertainment. ‘As an early entrant in the sector we have already had a number of milestones, including, the launch of the first ever daily fantasy site dedicated to esports, the first esports betting site to receive an Isle of Man license gaming license in 2017 and more recently being shortlisted by EGR Magazine for the Esports Betting Supplier of the Year Award. This year, part of our growth strategy was to round out our offering with traditional sports and casinos to make us a complete iGaming solution. Merging with FansUnite accelerates our growth strategy and will bring us the scale and offerings to make our combined group the leading iGaming entity in the Canadian public markets.’…

 

GAN Limited (NASDAQ: GAN) is a business-to-business supplier of internet gambling software-as-a-service solutions to the U.S. land-based casino industry. The Company has developed a proprietary internet gambling enterprise software system, GameSTACK™, which it licenses principally to land-based U.S. casino operators as a turnkey technology solution for regulated real-money internet gambling, encompassing internet gaming, internet sports gaming and virtual Simulated Gaming. Recently GAN had announced that Cordish Gaming Group, the global gaming division of The Cordish Companies, has engaged GAN as their enterprise software Platform provider to power their new “PlayLive!” branded Internet gambling business in the State of Pennsylvania, complementing the development of two new Live!-branded gaming facilities in Philadelphia and Pittsburgh.

Boyd Gaming Corporation (NYSE: BYD) and FanDuel Group recently announced the debut of FanDuel Sportsbooks at four Boyd Gaming properties: Blue Chip Casino Hotel and Spa in Michigan City, Indiana; Diamond Jo Casino in Dubuque, Iowa; Diamond Jo Casino in Northwood, Iowa; and Belterra Casino Resort in Florence, Indiana. “Together, Boyd Gaming and FanDuel Group continue to successfully capitalize on the historic opportunity afforded by the legalization and expansion of sports betting in new states across the country,” said Keith Smith, President and Chief Executive Officer of Boyd Gaming. “The FanDuel Sportsbook is off to a great start in Pennsylvania, contributing to solid growth in visitation and profitability at our Valley Forge Casino Resort near Philadelphia. We are confident our partners at FanDuel will deliver excellent results in Iowa and Indiana as well, further expanding Boyd Gaming’s customer base and enhancing our long-term competitive appeal.”

International Game Technology PLC (NYSE: IGT) announced earlier this month that its PlaySports platform will power retail and mobile sports betting at Wild Card Saloon and Sasquatch Casino in Black Hawk, Colo. Owned and operated by privately held gaming company, Ed & Shirley’s Inc., both casinos will leverage IGT PlaySports kiosks, platform and mobile technologies to give their patrons choice and convenience for how, when and where they place sports bets. “Offering omni-channel sports betting via the IGT PlaySports solution will introduce an exciting new dimension of gaming to Wild Card Saloon and Sasquatch Casino that sports fans throughout Colorado are ready to embrace,” said Ed Smith, Ed & Shirley’s Inc. President.

“We’ve leveraged IGT’s expertise and trusted technology to create a sports betting program that gives players choice and convenience for wagering on their favorite teams.”

Scientific Games Corporation (NASDAQ: SGMS) announced earlier in March that it had partnered with Vaix.ai to offer sports bettors personalized recommendations and tailored betting choices through the OpenMarket™ branch of the OpenSports™ product suite. Vaix.ai will offer an Artificial Intelligence (AI) model through OpenSports that enhances the sports betting experience. By providing sports, league, team, event, and market recommendations to bettors in real-time, the companies aim to further personalize sports betting through Scientific Games’ OpenMarket solution. OpenMarket is the industry’s first one-stop content marketplace, giving Scientific Games’ partners access to top-tier sports betting intelligence, data feeds and tools without the need for complex integrations and financial agreements.

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BALLY’S CORPORATION ACQUIRES USER EXPERIENCE (UX) DESIGN AND SOFTWARE DEVELOPMENT COMPANY DEGREE 53

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BALLY’S CORPORATION ACQUIRES USER EXPERIENCE (UX) DESIGN AND SOFTWARE DEVELOPMENT COMPANY DEGREE 53
Reading Time: 2 minutes

 

Bally’s Corporation announced its acquisition of Degree 53, a Manchester, UK-based creative agency that specializes in multi-channel website and personalized mobile app and software development for the online gambling and sports industries. The agency’s award-winning approach and diversified skillset will advance Bally’s global omni-channel offering, providing key functionality for integrating Bally’s various mobile platforms. Degree 53’s team of 54 design and technical experts will continue to operate out of its Manchester studio.

Adi Dhandhania, Chief Operating Officer – North America, Bally Interactive, the Company’s digital division, said, “We are delighted to welcome Degree 53 to the Bally’s family. As we prepare to launch our Bally Bet 2.0 mobile sportsbook app early next year, we look forward to leveraging the Degree 53 team to develop our mobile sportsbook products and enhance our customers’ overall betting experience.”

Degree 53’s team offers a range of services, including sportsbook and casino mobile app and website development, complex system integration, data feed management, and API development. By delivering customized technology solutions, Degree 53 will enhance Bally’s diversified mobile platform, which includes integration to the Gamesys Group’s player account management and iGaming solution, in addition to supporting key audience engagement initiatives with Monkey Knife Fight and SportCaller. Degree 53 will also support product development as part of Bally’s media partnership with Sinclair Broadcast Group.

“We have ambitious plans for our multi-faceted sports offering as we strive to appeal to new audiences across North America,” said Raja B-Sheikh, Senior Vice President of Sports Products for Bally Interactive. “The Degree 53 team arms us with a unique perspective and skillset that will further advance not only the core Bally Sports product, but also our ambitious plans for innovative and connected experiences. I am excited to work closely with the team as they contribute to our quest of making Bally’s the number one destination for gaming entertainment.”

Richard Wagstaff, Managing Director at Degree 53, said, “Degree 53 was founded in 2013 to provide creative and innovative online and software solutions for the online gaming industry. We are pleased that Bally’s has recognized the differentiated approach that we bring to the market and to join with them during such an exciting period of the Company’s evolution. This is an exciting time for online gaming and the sports betting industry, and we look forward to immersing ourselves in the diversified projects that Bally’s provides.”

Degree 53 has worked with some of the largest companies in the betting and gaming industry, including Betfred, Scientific Games, FDJ Gaming Solutions, Penn National and GBG, as well as Gamesys brands Vera&John and Rainbow Riches. Degree 53 holds the Remote Gambling Software license from the UK Gambling Commission, which allows the organization to build and adapt gambling software for the UK licensed operators. They are also an Associate Member of the European Lotteries.

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eSports

Eight partners on board for BLAST Premier’s return to arena events at November’s Fall Final

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Eight partners on board for BLAST Premier's return to arena events at November's Fall Final
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BLAST Premier teams up with Elgiganten, Kia Denmark, A.P. Moller – Maersk, Xbox, OMEN, Stimorol, KPMG and Greater Copenhagen ahead of next month’s Fall Final in Copenhagen’s iconic Royal Arena

BLAST Premier has brought on board eight new partners ahead of next month’s highly-anticipated Fall Final (24-28 November) – the esports tournament organiser’s first LAN event in over 20 months.

Elgiganten, Kia Denmark, A.P. Moller – Maersk, Xbox, OMEN, Stimorol, KPMG and Greater Copenhagen will all team up with BLAST Premier ahead of the long-awaited return of fans and physical events at Copenhagen’s iconic Royal Arena venue in late November.

The return of arena events with spectators provides a number of exciting in-person opportunities to engage and excite BLAST Premier’s Counter-Strike community at the first LAN event since the London Spring Series in February 2020.

Kia Denmark, A.P. Moller – Maersk and Xbox team up with BLAST Premier for the first time, with the three brands making their first move into Counter-Strike, while the remaining line-up of partners have a strong history with the Copenhagen-based event.

Greater Copenhagen and BLAST Premier worked together to create Counter-Strike’s first ever live in-game prediction tool for last year’s Fall Final and will be sponsoring their first BLAST Premier event next month.

KPMG, OMEN and Stimorol will be partnering with BLAST for a third event – following last year’s online Fall Final and the 2019 Pro Series in Royal Arena. November’s tournament will be Elgiganten’s second event after the 2019 Pro Series.

All partners will be activating at BLAST Premier’s eagerly-anticipated return to LAN events at November’s Fall Final – via a number of fan engagement initiatives, giveaways and designated spaces at the venue to activate around on top of digital branding that will reach BLAST’s global audience watching from home.

The eight brands will join current partners, Betway, CS.MONEY, EPOS, SteelSeries and L33T Gaming – taking BLAST Premier’s portfolio of partners for the Fall Final to 13 in total.

Oliver Clarke, Head of Brand Partnerships for BLAST, said: “We are thrilled to be welcoming a great, diverse line-up of partners for the BLAST Premier Fall Final in Copenhagen – one of Counter-Strike’s most eagerly-anticipated events of the year. We look forward to creating new activations and content together while capturing the huge fan excitement around BLAST’s return to LAN events and the iconic Royal Arena in November. The return of fans and physical events means we can provide our partners with further value and opportunities to engage and interact with the audience in-person.”

The Fall Final is BLAST Premier’s sixth event of the 2021 season and will see eight of world’s best CS:GO teams fighting it out for $425,000 in prize money along with a place in December’s World Final.

Full list of partners for the BLAST Premier Fall Final: Betway, CS Money, EPOS, SteelSeries, L33T Gaming, Elgiganten, Kia Denmark, A.P. Moller – Maersk, OMEN, Stimorol, Xbox, KPMG and Greater Copenhagen.

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Top Interesting Facts About Online Casinos in Czechia

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Photo source: vegasslotsonline.com
Reading Time: 3 minutes

 

Whenever someone discusses a topic of gambling we usually immediately think of the US and Las Vegas. However, the majority of gambling activity actually happens online nowadays and it’s a very popular hobby in Canada, Australia, and all over the world in fact. Czechia is another country where this hobby is really popular, and there are some interesting facts about online gambling here.

The Czech Republic also has a strong community that enjoys online gaming. They have a big eSports audience, lots of people who love to bet, and among other things gamble online. So, let’s go over some of the interesting facts related to online casinos and the Czech Republic.

History of Gambling in the Czech Republic

The Czech Republic became indecent back in 1993, and yet its gambling laws were in place even before that happened. In 1990 the only approved activities that were regulated by the government were lotteries. This changed in 2012 when the country decided to modernize its outdated laws.

Their new Gambling Act at that time actually allowed for online casinos to operate and accept their citizens as players. The condition here was that the operators had to have a land-based institution on the territory of the Czech Republic. In 2017, online sites that are based in the Czech Republic were made legal, and they didn’t have to have a land-based establishment. However, you will see that this act isn’t actually too lenient on the operators, especially when it comes to their expenses.

Legal Status of Online Gambling

As mentioned it’s legal to maintain an online casino here and to gamble online. That’s not all though, as users are allowed to gamble in institutions that belong to foreign operators. Even sites that operate illegally are not banned here, but players access them at their own risk. Luckily, they can find safe online casinos Czechia sites or available in Czechia by visiting other platforms that review those operators. This way they can ensure to benefit from different bonuses and promo codes, as well as gain access to more diverse gaming libraries.

Bonuses and Promotions

You might wonder why players from Czechia would even create an account with a foreign operator since it’s in their interest to support the local economy. Well, one of the main appeals of online gambling lies in bonuses and promotions, and that’s where things get tricky. The law here states that any operator licensed in Europe cannot offer bonuses or user incentives to attract new players. So, while some countries ban illegal offshore operators, and nobody considers it a big deal, for players in the Czech Republic it would actually be a big deal. They would lose access to some of the best promotions and cashback offers out there.

Revenue

One of the reasons why this country wants online casino operators to come here is because of the revenue. Casino gaming revenue from 2010 to 2017 increased by more than 100 million euros, and it made massive leaps ever since. In the year 2017, the revenue from online gambling was around 370 million dollars, and it continued to grow by around 16% on an annual basis. In the year 2019, the revenue from both land-based and online gambling was 1.36 billion euros. This is a huge deal which brings us to our next fun fact.

Taxing of Online Gambling Operators

Operators here pay massive tax on their income, 35% to be precise. In other words, more than a third of generated profits go to the government, which makes this industry in a way integral for their economy. Unfortunately, a lot of operators simply couldn’t put up with this tax and had to leave. Luckily, all of the reputable and well-established online gambling parlors are still around, and players can enjoy their content.

Number of Gamblers

In the Czech Republic you have to be over 18 in order to be allowed to gamble but the report from 2019 revealed that there are underaged gamblers in the Czech Republic. Now, this is pretty much the case in any country where gambling is legal, and it’s why this is a controversial topic. Still, almost 44% of people who are older than 15 gambled in the year 2019. This number is likely much higher for the years 2020 and 2021, as the pandemic led to a huge traffic increase on these sites.

Conclusion

These were some of the interesting facts about online casinos and gambling in general in the country of Czechia. Hopefully, you learned something new, and useful. If you ever wondered why the welcome offers and bonuses are lacking in some of the online casinos, it’s probably because they need to comply with the gambling act. Always remember to gamble responsibly, and to only maintain accounts with safe operators. Avoid reckless spending, and play primarily to have fun.

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