LiveScore Malta Limited (part of LiveScore Group) has confirmed the withdrawal of its LiveScore Bet brand from the Netherlands, with operations set to formally cease on 29 November 2024.

The decision follows the planned government tax increase which is set to rise by almost a quarter from 30.5% to 37.8% of Gross Gambling Revenue. The relinquishment of LiveScore Bet’s licence has been communicated to the regulator, Kansspelautoriteit (the KSA).

Currently, the primary concern for LiveScore Bet is of the impact on its people and customers. A process is now underway to inform all LiveScore Bet customers, whilst account registration has been deactivated meaning that there will be no new players join the site. All impacted employees have been informed and are now subject to a confidential consultation process.

Sam Sadi, CEO of LiveScore Group, said: “On behalf of all LiveScore Malta directors, it is with regret that we have made the difficult decision to exit LiveScore Bet from the Netherlands. Unfortunately, the planned tax increase means that this market is no longer viable commercially.

“Since our launch in 2021 we have built a brilliant community of engaged customers, and we will greatly miss our relationship with them. We would like to thank our players, people and partners during our time in operation.”

LiveScore Bet Netherlands will be implementing the follow steps for active players to smooth the closure transition:

• Week commencing 25th of November, players will no longer be able to deposit funds.

• Player account balances will still be able to be used to wager until 29 November 2024.

• On 29 November 2024, LiveScore Bet will discontinue the ability for players to participate in games of chance and wager.

• On 29 November 2024, LiveScore Bet will also refund all player account balances to the linked contra accounts.

• LiveScore Bet will allow players to contact customer support post 29 November to ask questions about their account, and the disbursement of funds in the event of any withdrawals that could not be refunded on 29 November 2024.

Volt, the global real-time payments platform, has announced a new partnership with Kinguin, a leading global marketplace for video games. Utilising open banking technology, the partnership enables Kinguin’s 18 million users to securely and seamlessly purchase games and in-game goods using “Pay by Bank”.

Made available across France, the Netherlands, Germany and the UK, Volt’s “Pay by Bank” solution allows users to check out directly from their online banking environment, where their payment is pre-populated and ready to approve with a single tap. Unlike cards, “Pay by Bank” doesn’t involve any manual data entry – meaning an end to mistakenly typed card details, and any details being compromised.

The integration of Volt’s “Pay by Bank” solution further signals Kinguin’s commitment to providing innovative payment solutions in each of the countries it operates in, with open banking payments gaining particular traction in northern Europe. According to Juniper Research, open banking payments’ total transaction value will be $330bn in 2027 – a 479% increase from the $57bn recorded in 2023.

Further, the partnership is further evidence of the product-market fit between real-time open banking payments and online gaming, where fast, friction-free purchases are particularly valued – especially when they’re rooted in bank-grade security. For providers like Kinguin, integrating “Pay by Bank” also means faster settlements; because payments are routed account to account, on the SCT and SCT Inst rails in Europe and Faster Payments in the UK – they settle in real time.

Faheem Bakshi, Kinguin’s VP Payments, said: “Offering the latest in payments technology is vital to our commitment to delivering an optimised user experience in each of our live markets. With the rapid growth of open banking payments in Europe, it became imperative to find a provider that could offer customers across some of our key markets a harmonised Pay by Bank experience. Volt was best placed to deliver on this aim, and we’re already seeing it emerge as a preferred payment option.”

Thomas Pinter, Volt’s SVP Global Digital, said: “We’re delighted to support Kinguin’s mission to provide customers with the best possible payment experience. We pride ourselves on our optimised payment flow, bank connectivity and geographic coverage, so it’s fantastic to see this being recognised by merchants such as Kinguin. We look forward to seeing Pay by Bank drive conversion and speed up settlement times across the UK and northern Europe.”

With an extensive career spanning over diverse business sectors, Polina brings a wealth of expertise to the team of CT Interactive as our new Chief Marketing Officer. Known for driving high-impact marketing strategies, Polina has a proven track record of delivering significant business growth through integrated campaigns, brand management and business development.

Throughout her professional journey, Polina has demonstrated expertise by driving business strategy, leading sales initiatives, and managing marketing campaigns. Her expertise encompasses business development, strategic marketing, and partnership cultivation, all closely aligned with the company’s values and objectives.

In her extensive career, Polina has demonstrated proficiency by launching and enhancing successful product lines, spearheading multi-channel marketing efforts, and developing targeted marketing strategies across various industries. Her deep understanding of consumer behavior and market trends has consistently translated into competitive advantages and elevated brand equity. Polina’s ability to respond to emerging trends, manage diverse partnerships, and execute high-impact campaigns has resulted in impressive marketing outcomes that align with and support overall business goals. Her dedication and results-oriented approach make her a key driver of growth and success.

Polina holds a degree in International Relations from the University of National and World Economy and has advanced training in Business Management from TÜV AUSTRIA Academy. She is part of the Marketing jury at the most prestigious competition for web in Bulgaria Site of the year. The combination of knowledge and practical experience makes her a valuable addition to our team.

At CT Interactive, Polina is poised to elevate the brand’s presence and drive sustainable growth by integrating her expertise in these dynamic industries, being proud to join one of the pioneers in the business.