Benefits of Legalizing Gambling in Developed Countries – European Gaming Industry News
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Benefits of Legalizing Gambling in Developed Countries

George Miller

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Benefits of Legalizing Gambling in Developed Countries
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The morality of gambling has been a matter of contention in society for most of its history. While some people perceive it as a fun activity, others see it as a threat to individuals’ social and economic well-being. Whether you are for or against gambling, and that incudes sports betting, it is crucial to note that both sides of the argument offer valid points. Ultimately, the question you should ask is if the negatives to gambling outweigh the benefits or vice-versa.

Although there have been major steps in countering the negative argument with countries such as the United States and Canada legalizing gambling, some still hold on to the idea that gambling is inherently harmful. The former has created regulatory bodies that control gambling activities. These bodies strike a balance between the activity’s risk and perks by ensuring player safety and security. So what do these developed countries gain from legalized gambling?

Fair and responsible gaming

Countries that hold onto the notion that gambling should be criminalized have systems and policies to punish those who go against the law. Lack of adherence is met with jail-time or fines, and while these might sound like effective deterrents, they are not; gamblers devise ways to go against the rules by either going to underground casinos or playing online.

For the former, this comes with a need for immense secrecy and risks of altercations with the law, which also puts you in danger. On the other hand, the latter offers unmitigated risks as the increase in online casinos means a higher risk of playing on an unreliable platform.

Legalizing gambling ensures that a reputable body governs each casino a player goes to. This way, you are reassured that the authority addresses any aspect of misconduct. Hence, you reduce the risk of losing money or getting scammed. The presence of regulations ensures fair gaming.

Although thanks to the growing online casino industry in Canada and other countries, not all platforms are regulated locally, it is easier to follow up with casinos that don’t adhere to the regulations. You can access a review of Canada online casino options before choosing a gambling platform or leave feedback of any to caution other players of misconduct or let them know about good deals. Thus, legalizing gambling allows the free flow of information that is crucial to the player experience.

Provides avenues to tackle addiction

One of the greatest concerns when it comes to gambling is that it poses an economic risk to the player. Several instances of gambling addictions have been reported, with some people losing their financial resources in a game. This idea of compulsive wagering elicits fear that legalizing gambling opens the society up for more cases.

In essence, this is false. While it might be influenced by access, the rate of gambling addiction is not necessarily dependent on whether the activity is legal or not. People will gamble, whether it is acceptable in the law or not.

Legalized gambling creates room for the creation and provision of resources to deal with addiction. Since gambling is deemed a common and acceptable activity in these developed countries, it is easier for gamblers to seek help when they feel they are overdoing it. Countries with legalized gambling often provide resources to help with addiction, including counseling services or avenues to self-regulate.

 

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You will find that some platforms that offer online casinos for real money and reviews on its also caution players on the dangers of irresponsible wagering. This is a requirement from regulatory bodies and indicates a casino’s adherence to gambling laws. It helps ensure that while these casinos provide an avenue for you to enjoy your favorite games and make real money, they also ensure the player’s well-being.

Safety and Security

Online gambling offers gamblers the choice to play for free or for real money. When you choose the latter, you will need to provide personal information, such as identification documents and addresses. At times, you might have to use your credit cards to fund your account.

Online casinos use encryption technology to protect your data from external access and fraudulent activity. Legalized gambling helps ensure that if you have an issue, complaint, or are suspicious of authorised access, you can follow up with the relevant authority.

Job Creation

The gaming industry has created over 1.8 million jobs worldwide. This number is from online and land-based casinos. Additionally, when it comes to the latter, the casinos’ traffic seeps into other aspects of surrounding communities. This way, gambling has created jobs both within and without the industry.

While this isn’t necessarily considered a form of job creation, some players graduate to professional gamblers, making the activity their source of income. This form of economic benefit has alleviated some from poverty and allows them to fend for their families.

Tourism

Cities such as Las Vegas, Atlanta, and Macau are known as gambling capitals of the world. They are not only homes to some of the best casinos, but also sort after travel destinations. Although these cities were initially or are best known for their standing in the gambling world, they have morphed into all-rounded experiences. They have luxury hotels, proximity to attractions, and resources for both leisure and business travelers.

Taxes

The US government made 43.61 billion dollars from casinos in 2019, while the Canadian government made $1.25 billion and the United Kingdom made £2.9 billion. These sums are from both online and land-based casinos. Legalizing gambling allows for economic growth through tax revenues.

 

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As the industry continues to witness the growth of the online gambling market, there is an expected revenue increase.

Conclusion

While the good outweighs the bad, the latter is at times too significant to overlook. Some gamblers have lost massively. It is crucial to understand that, like every other thing, an individual’s gambling experience has to do with a lot more than the legality or illegality.

When developed countries legalize gambling, they create avenues for both players to experience the perks of the activity with security assurance. Casinos are also protected.

 

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eSports

Team Vitality unveils partnership with Garmin

George Miller

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Team Vitality unveils partnership with Garmin
Reading Time: 3 minutes

 

The organisation will utilise its experience competing at the highest level of competition to help the watchmaker take its Instinct® Esports Edition to the next level 

Leading global esports organisation Team Vitality is pleased to announce a partnership with the world leader in the connected watch market, Garmin. The partnership will see Garmin supply Team Vitality with its model dedicated to gamers, the Instinct® Esports Edition as the two brands work closely together in R&D to further develop the product.

The Instinct® Esports Edition is based on Garmin’s health and sports technologies, and comprises a specific function dedicated to the analysis of biometric data during the game. The watch analyses and displays, for example, the user’s heart rate and stress level, together with the time and a game timer. Whether it be during the players’ physical preparation or during their games, the watch is fully in line with the team’s new ambitions.

Garmin sat down with Nicolas Maurer, CEO of Team Vitality to discuss the collaboration and the organisation’s approach to the partnership.

“The idea of creating a watch dedicated to gamers is really ingenious,” comments Nicolas Maurer, CEO of Team Vitality. “First, because it did not exist in the esports microcosm, unlike many other sports that have had their own connected watch for a long time. Then, because it will be exciting to follow the evolution and progress of this innovative product. There is so much to create around this watch…” A product stamped ‘Team Vitality’ for example? “Yes, why not! We already have some experience with branded products. It went very well with adidas. It is following the course of our history…”

Team Vitality did not hesitate to join forces with the American equipment manufacturer. First, due to its legitimacy and  investment in the gaming industry  as a technology expert. Then, because Garmin has “a cautious and considerate approach”. “Everyone has their own speciality. Garmin is a technological brand with talented R&D teams. For our part, our knowledge stems from practice and we have very experienced professional players, who have very specific and different expectations depending on the games. Esports is protean, let us not forget about that!”

For the time being, the Garmin and Team Vitality teams have already started brainstorming. The equipment manufacturer is reflecting on how best to work with Team Vitality and what future improvements can be made to the watch to help professional players perform even better. Team Vitality sees this as an opportunity to be challenged. “We are ultra-stimulated,” explains Nicolas Maurer. “We have to take a different look at the discipline. Innovation has always been part of our DNA. But this time we feel even more involved, boosted by this partnership, which aims to develop the best possible product and meet the expectations of all audiences, both professionals and amateurs.”

“Garmin’s approach is very sound,” says the CEO. “The equipment manufacturer is entering the esports market with caution and humility. Garmin is presenting a first product, which will likely need to be improved. It is then up to us to share our expertise with them. The partnership was, in fact, concluded with that in mind: in a logic of R&D, expertise and exchange.”

At the present time, it is difficult to know which of the functions included in the connected watch will appeal most to Team Vitality’s professional players. “We can imagine that in games like Counter-Strike or League of Legends, the watch can be used in the key moments of the game and provide additional information or DATA, allowing players to make the right decisions at the right time. It is important to remember that esports is based on two essential principles: decision-making and mechanical execution. These choices are made in record time, when every second counts. This is where the watch will have a role to play.”

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LeoVegas publishes prospectus and applies for admission to trading of unsecured bonds on Nasdaq Stockholm

George Miller

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LeoVegas
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On 10 December 2020, LeoVegas AB (publ) (“LeoVegas”) issued unsecured bonds with ISIN: SE0015242854 in an amount of SEK 500 million within a framework of SEK 800 million (the “Bonds”).

The Bonds have a tenor of 3 years and a floating interest rate of 3 months STIBOR + 550 basis points.

Pursuant to the terms and conditions for the Bonds, LeoVegas has undertaken to apply for admission to trading of the Bonds at the Corporate Bond List of Nasdaq Stockholm. For this purpose, the company has prepared a listing prospectus which today has been approved by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen). The prospectus is available at the company’s website www.leovegasgroup.com under Investor Relations and at the Swedish Financial Supervisory Authority’s website www.fi.se.

The first day of trading of the Bonds will be the 25th January 2021.

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Opera buys owner of GameMaker and starts a Gaming division

George Miller

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Opera buys owner of GameMaker and starts a Gaming division
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Opera, the browser developer and consumer internet brand, announced its acquisition of YoYo Games, creator of the world’s leading 2D game engine, GameMaker Studio 2, for approximately $10 million. The tuck-in acquisition represents the second building block in the foundation of Opera Gaming, a new division within Opera with global ambitions and follows the creation and rapid growth of Opera’s innovative Opera GX browser, the world’s first browser built specifically for gamers.

Krystian Kolondra, EVP Browsers at Opera, said: “With Opera GX, Opera had adapted its proven, innovative browser tech platform to dramatically expand its footprint in gaming. We’re at the brink of a shift, when more and more people start not only playing, but also creating and publishing games. GameMaker Studio2 is best-in-class game development software, and lowers the barrier to entry for anyone to start making their games and offer them across a wide range of web-supported platforms, from PCs, to, mobile iOS/Android devices, to consoles.

Annette De Freitas, Head of Business Development & Strategic Partnerships, Opera Gaming, added: “Gaming is a growth area for Opera and the acquisition of YoYo Games reflects significant, sustained momentum across both of our businesses over the past year. Our new Opera GX browser hit 7 million MAUs in December, 2020, up 350% year over year, while YoYo Games’ GameMaker engine achieved 400K new registered creators in 2020. We’re tremendously excited by the opportunities the combination creates not only for our combined users, but also for the expansion of Opera’s gaming community.”

Stuart Poole, GM at YoYo Games who will remain with the business alongside technical lead Russell Kay stated, “For over twenty years, the vision behind the GameMaker engine was to not just create more games, but expand development within and beyond the game studio. We think the transaction with Opera – whose products are known, trusted and used worldwide by millions of people every month- represents a massive opportunity to accelerate fulfilment of that founding vision, during a period of exceptional growth for both companies.”

“We are very excited to start working with the team at YoYo Games,” said Krystian Kolondra, EVP Browsers at Opera. “We see the Game Maker Studio platform as being an ideal acquisition to complement our global ambitions in gaming, and to help drive awareness and traffic to our Opera GX gaming browser.”

Opera GX, YoYo Games and GameMaker will unite under Opera Gaming, focusing on innovating across the gaming, game development, and browser experience. “We look forward to further growing Opera GX and driving the growth of GameMaker as part of a broader ecosystem, making it more accessible to novice users and developing it into the world’s leading 2D game engine used by commercial studios,” continued Krystian Kolondra. “Opera Gaming will be focusing on accelerating the growth of this emerging ecosystem, combining the 7+ million highly engaged gamers using Opera GX with millions of GameMaker creators. We are also thrilled to continue realizing synergies between YoYo Games’ products and Opera GX.”

GameMakerStudio is an integrated game development software, performance-tuned 2/2.5D engine that fuels many games, including multi-million hits like Risk of Rain, Undertale, or Hyper Light Drifter on an extensive range of mainstream platforms. Starting to build games with Game Maker Studio requires little to zero coding skills. Due to its extensive functionalities and ease of use Game Maker Studio lowers the barriers to entry and empowers a variety of creative people to make their games come alive and share them with the world.

Kolondra explained further: “Performance is essential to even 2D gaming, and sustaining that performance across mobile devices and laptops as well as variable bandwidth and connectivity requires thinking outside of traditional application silos. The line between building good games and good browsers has been eroding for years – with gaming interactivity across internet connections ramping up and browsers growing more multi-function and sophisticated. Traditionally the two types of technology compete for hardware and bandwidth resources. But as Opera GX proved, there was a better way to address that competition and improve the experience across both functionalities. YoYo Games’ team, development expertise and studio relationships lay the groundwork for turning the Opera GX vertical into a new kind of horizontal. This horizontal opportunity is why we’re building Opera Gaming and its infrastructure – so that we can further integrate gaming and browsing in ways beneficial to both in terms of not only monetization, but also experience.”

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