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BGC: Compulsory Affordability Checks Threaten Regulated Betting and Gaming Industry, Warns Major Report by EY

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Britain’s regulated betting and gaming sector has urged Government to publish a White Paper that delivers for business and punters, after a new study showed affordability checks are already hitting revenues.

Research by EY for the Betting and Gaming Council confirmed the sector remained robust despite the pandemic and was now weathering the energy crisis and cost of living crisis.

However, the enforcement of tougher affordability checks, have contributed to reduced revenues, the study said.

The report backs up recent polling which showed nearly 70% of people who place a bet said they would be unwilling to allow regulated firms to carry out compulsory affordability checks to prove they can afford to wager.

According to EY, despite the external pressures facing all businesses, which have been exacerbated by affordability checks, BGC members’ total Gross Value Added contribution to the UK economy was £7.1bn.

Meanwhile the industry supports 110,000 jobs on high streets, in hospitality and in global tech powerhouses.

The contribution to the Treasury from regulated betting and gaming remained significant at £4.2bn annually.

Across the industry, overall Gross Gambling Yield – total revenues after winnings have been paid but before costs are deducted – was slightly up on 2019 despite massive global volatility.

A new White Paper setting out new laws for the Gambling Industry is expected within weeks. In expectation of Government limits on spending, BGC members have already started applying more stringent checks, which are hitting revenues.

The EY study, noted: “Online GGY has declined since mid-2021, probably reflecting the re-opening of physical venues, the introduction of affordability checks on online, and the decline in real household incomes.”

The decline in the online regulated betting and gaming sector as a result of factors including the impact of affordability checks could push customers to the black market, the study warned.

The EY study, said these pressures, “could in turn lead to leakage to the black market, i.e. operators offering remote (mainly desktop and mobile) gambling products that do not hold a UK Gambling Commission license for remote gambling.”

European countries applying tough sanctions on betting, including restrictions on stakes, blanket affordability checks and curbs on advertising, have witnessed an increase in black market betting.

Norway’s black market now accounts for over 66% of all money staked, in France it is 57%, while in In Italy 23% of money bet is on illicit sites.

The figures have prompted renewed calls from the BGC to end the uncertainty presented by the Government’s delayed review of gambling laws, and ensure any new regulations put industry on a sustainable foundation for future growth.

CEO of the Betting and Gaming Council Michael Dugher said: “The UK’s regulated betting and gaming sector is a genuine global leader. Some 22.5m adults enjoy a wager, on the lottery, on bingo, on any number of sports, online and in casinos.

“Our members pump billions into the economy, support the Treasury with more billions and support over one hundred thousand jobs.

“But this contribution is never guaranteed. This industry needs to thrive if it is to maintain its status as a global leader.

“As ministers consider the regulatory framework for this industry, they should stop and think, and ensure the decisions they make support a sustainable future.

“This is a sector that is ready to invest, on hard-pressed high streets through bookmakers, in tourism and hospitality through world-class casinos and online where our tech giant members are looking to increase the number of apprentices they hire.

“We urge the Government to find an evidence-led, balanced White Paper that protects the vulnerable, allows the vast majority who bet safely to continue to do so, and crucially allows business to thrive.”

The Government has promised a White Paper outlining a review of current Gambling legislation within weeks.

The industry standards body, the BGC, has launched 20 standards and initiatives since it was established three years ago to drive up standards.

Michael Dugher added: “This industry is serious about safer gambling, and it’s encouraging that the rates of problem gambling among UK adults remains low by international standards at 0.3 percent.

“We want to see technology used to ensure checks on spending are carefully targeted towards the vulnerable, not the vast majority who show no signs of harm.

“But without Government clarity on affordability checks, our members are concerned they are driving frustrated customers to the unsafe, unregulated black market.

“These sites have none of the safer gambling tools employed by our members, do nothing to protect young people, don’t invest anything in the sports we love like horse racing, rugby, darts and football and crucially don’t contribute a penny in tax.”

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Meridianbet Launches ‘Scan. Help.’ Humanitarian Initiative to Support Maternity Hospitals in Southeast Europe

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Meridianbet, a member of the Golden Matrix Group (NASDAQ: GMGI), in partnership with Meridianbet Foundation, Expanse Studios, and BC Crvena zvezda Meridianbet announces the launch of a significant humanitarian initiative, ‘Scan. Help.’, aimed at supporting maternity hospitals across Southeast Europe.

The rollout of this action to other market territories is expected in the remainder of 2024.

How It Works

For every scanned QR code and subsequent registration on the Meridian Foundation’s website, funds will be allocated towards equipping five maternity hospitals in Serbia. This innovative approach not only raises awareness but also actively involves the community in our CSR activities.

The initiative is currently ongoing with high media presence and is broadcasted during Southeast Europe’s regional basketball Finals series (ABA League). BC Red Star players wear jerseys featuring the QR code, with additional promotion through basketball arena ads, TV ads, and more, encouraging fans and supporters to participate.

A Unified Effort for Community Impact

The ‘Scan. Help.’ campaign is a collaborative effort involving Meridianbet, Meridianbet foundation, Expanse Studios, and basketball club Crvena zvezda Meridianbet, Southeast Europe’s leading basketball club, of which Meridianbet is the name sponsor. The initiative is designed to leverage our collective resources and influence to make a meaningful impact on local communities.

Multi-Stakeholder Support and Growing Participation

The ‘Scan. Help.’ campaign has received institutional support ad backing from the Ministry of Health, reinforcing the importance and legitimacy of this cause. Additionally, several companies have already expressed their desire to contribute, with provisions made for donations through the Meridian Foundation’s account. This broadening support network amplifies the initiative’s reach and potential impact.

This campaign exemplifies Meridianbet’s dedication to sustainable development and community well-being. In 2023 alone, the company has launched 225 CSR campaigns, reflecting the commitment to making a lasting impact.

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Asia

SiGMA Asia Awards 2024: Boomerang Partners Nominated for ‘Rising Star Affiliate Program’

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The fast-growing Boomerang Partners affiliate program continues gaining global recognition, earning a nomination for the prestigious ‘Rising Star Affiliate Program 2024’ category in the Asia region

With a rapidly growing network of over 5,200 affiliates across 70+ countries, the dynamic Boomerang Partners affiliate program has been recognized as a finalist for the ‘Rising Star’ category at the SiGMA Awards Asia 2024. While Asia is not currently the central focus for brand promotion, this prestigious recognition from SiGMA is a notable honor that inspires Boomerang to fortify its global footprint and industry-leading position.

In 2023 alone, Boomerang’s achievements included paying over €50 million to affiliates, creating 22 exclusive branded games, hosting 82 tournaments across 30 regions, and expanding into 31 new markets. This followed prestigious wins like ‘Casino of the Year’ at the SiGMA Balkans/CIS Awards, ‘Commission Offer of the Year’ at the AffPapa iGaming Awards, and ‘Best PPC Affiliate’ at the SiGMA Europe Awards.

This year, Boomerang Partners is highlighting innovations like a worldwide traffic tournament and has already been nominated at the AffPapa, MAC, and AskGamblers Awards – eagerly awaiting the results across these prestigious voting processes and final selections.

“We actively collaborate with SiGMA, having participated in their events and been honored with SiGMA awards in other regions previously,” said Vitalii Prokofev, CEO at Boomerang Partners. “SiGMA sets the standard with premier industry events and accolades worldwide. This nomination at their Asia awards is valuable recognition that fuels our ambition to raise our global profile further.”

Boomerang Partners invites all affiliate managers and industry enthusiasts to learn more about their award-winning program. Voting for the SiGMA Asia Awards runs until May 20th. Winners will be announced at the June 3rd ceremony during the June 2-5 event in Manila.

Support Boomerang in the ‘Rising Star’ category while voting for other favorites at SiGMA.

 

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Latest News

PopOk Gaming Unveils Exciting New Instant Game: “Dice”

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PopOK Gaming, a leading innovator in the gaming industry, is thrilled to announce the launch of its latest Instant game sensation: “Dice”.

“Dice” is a dynamic game that puts players’ instincts and strategies to the test. Participants can jump in at any moment and predict whether the resulting number will be higher or lower than their selected number. With every roll, the excitement mounts as players watch the green fields light up, indicating their path to victory.

It’s not just about luck – it’s about strategy too. Players have the opportunity to adjust their multiplier, choose their odds, and press start for a thrilling gaming experience.

Here’s how it goes down:

📈 Move the dice higher or lower on the screen.
🚀 Choose over or under.
⏳ Place your bet and hold on tight.
🎲 Launch the dice!
🏆 Win big, with potential rewards of up to x9600!

With its user-friendly interface and exciting gameplay, “Dice” promises to captivate players of all skill levels. Whether you’re a seasoned gamer or new to the world of Instant games, “Dice” offers endless opportunities for fun and excitement.

Join the action today and roll the dice for your chance to win big! Visit PopOK Gaming to start playing now.

 

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