888 Suspends VIP Activities in Middle East; CEO Steps Down
888 Holdings announced the departure of its chief executive on Monday, as it said it was suspending some VIP accounts in the Middle East pending the outcome of an internal compliance investigation.
Just weeks after announcing that chief financial officer Yariv Dafna had “mutually agreed” to step down from the business, 888 announced that CEO Itai Pazner is stepping down with immediate effect.
888 had said in January that Dafna was stepping down at the end of March, but the company has now said he will remain in his job until the end of the year.
Non-executive chair Lord Mendelsohn is assuming the position of executive chair on an interim basis while the company searches for a permanent CEO.
The news came alongside a separate statement in which the company said that an internal compliance review had revealed that “certain best practices” had not been followed in regard to “know your client” and anti-money laundering processes for 888 VIP customers in the Middle East region.
As a result, VIP activities in certain of its .com markets have been suspended pending the outcome of the investigation.
“While further internal investigations are underway, the board has taken the decision to suspend VIP customer accounts in the region, effective immediately. The board currently estimates that the impact is less than 3% of group revenues, should the suspensions remain in place,” 888 said.
888 said its current understanding is that the process deficiencies identified are isolated to the Middle East only.
Mendelsohn said: “The board and I take the group’s compliance responsibilities incredibly seriously. When we were alerted to issues with some of 888’s VIP customers, the board took decisive actions.
“We will be uncompromising in our approach to compliance as we build a strong and sustainable business.”
Sportradar Wins Major Bid for ATP Rights
Sportradar has been selected as the successful bidder for the global ATP data and betting streaming rights starting 2024. It follows an extensive RFP process led by Tennis Data Innovations (TDI).
Sportradar is a world leading sports technology company, providing immersive experiences for sports fans and bettors worldwide. The company has been a supplier of official ATP Tour and Challenger Tour secondary data feeds since the start of 2022 and boasts a roster of partnerships spanning professional sports.
The RFP process was initiated by TDI in January 2023 and saw five bidders submit detailed proposals across multiple rounds, for a six-year rights cycle beginning in 2024. The process took to market rights that have grown significantly in value over more than a decade. The process followed the setup in 2020 of TDI as a specialist joint venture vehicle of ATP and ATP Media to oversee innovation, development and commercial management of all data and betting streaming products for the ATP Tour and ATP Challenger Tour.
Sportradar’s commitment to product innovation for the downstream market and unrivalled development in advanced technologies such as computer vision and AI, in addition to its industry leading integrity services, were key considerations in the selection process.
David Lampitt, CEO of TDI, said: “We are grateful to all the bidders who showed such commitment to our content throughout the selection process. Sportradar has been chosen as the best partner to deliver against our growth ambitions due to their combination of product capabilities, global reach and an innovative commercial model that preserved our ability to share in the continued growth of this market.
“Since the establishment of TDI, our mission has been clear – to create the most engaging data & streaming products and services for existing tennis fans and bring new fans to the game. If we get this right, we will deliver great returns for the sport. The competitive nature of this process, as well as the compelling successful bid from Sportradar, reflects the incredible value of ATP content. We look forward to forging a successful partnership together.”
Carsten Koerl, CEO of Sportradar, said: “We are delighted that TDI has selected Sportradar as the successful bidder to support the enormous growth of the sport of tennis. The capabilities and global scale of our offerings will provide betting operators innovative, best-in-class products and tech savvy tennis fans a richer, more immersive experience that only Sportradar can deliver. Our expertise in developing advanced technologies, including computer vision and AI which create advanced analytics and data visualization, will drive new, compelling ways for fans to engage with tennis, while also safeguarding and upholding its integrity.”
TDI and Sportradar will now work to agree and finalise contractual terms in preparation for the new rights cycle, starting from January 1, 2024.
Sports Betting Global Market Report 2023: Rapid Growth of the eSports Sector Presents Opportunities
The “Sports Betting Market Size, Share & Trends Analysis Report By Platform, By Betting Type (Fixed Odds Wagering, Exchange Betting, Live/In-Play Betting, eSports Betting), By Sports Type, By Region, And Segment Forecasts, 2023 – 2030” report has been added to ResearchAndMarkets’s offering.
The global sports betting market size is estimated to reach USD 182.12 billion by 2030, registering a CAGR of 10.3% from 2023 to 2030.
This growth of the market is driven by the proliferation of internet infrastructure and evolving regulatory landscape of the entire gambling industry across the world.
In addition, the increase in the number of sports events and leagues worldwide such as the NFL, FIFA World Cup, Carabao Cup, and UEFA Europa League has positively influenced the growth of the market.
Furthermore, an increase in disposable income and the rising usage of AI and blockchain technologies to improve the prediction algorithms in betting software are likely to boost the growth of the market during the forecast period.
Esports, which is an organized, multiplayer video game competition, played by professional players, individuals, or teams, has gained massive popularity during the COVID-19 pandemic and witnessed a surge in the number of events worldwide. Market players are utilizing the increased number of esports events to offer an opportunity for their customers to bet on such esports competitions and earn extra income.
The surge in online sports events backed up by a rise in the number of esports tournaments offers stable growth opportunities for the betting industry. For instance, according to the report by the U.K. Gambling Commission, there was a huge 2922% year-on-year rise in esports betting revenue from March 2019 to March 2020.
Major players in the global betting industry now operate via official websites and online platforms to cater to the increased demand for sports betting. Additionally, the market players are expanding their presence across countries with supportive regulatory compliance. For instance, in December 2021, Unikrn Inc., a global esports betting & entertainment media company introduced its betting platform in Canada and Brazil. In addition to this launch, the company has further announced to increase its presence across a greater number of regulated markets in 2023.
The lives of multiple households around the globe have been affected during the COVID-19 pandemic. In addition, this situation led to the cancellation of worldwide sports matches and the closure of land-based casinos and betting shops. However, the pandemic expanded the online sports betting industry due to the rise of esports and virtual sporting events. The popularity of online sports betting increased during the pandemic with an upsurge in the number of betting participants. For instance, according to a study conducted by Public Health England, online casino gambling had seen growth by nearly 9.0% during the pandemic. Furthermore, as per the GB Gambling Commission survey, betting habits among people have changed due to Covid-19, with mobile devices continuing to be the most popular medium for gambling. The survey also found a massive inclination towards esports betting across the globe.
Sports Betting Market Report Highlights
- North America is expected to witness a CAGR of around 11% during the forecast period. The U.S. has legalized sports betting in 36 states as of January 2023, which is a promoting factor for the regional market growth
- The online platform segment dominated the market in 2022 and is expected to showcase the highest CAGR during the forecast period
- The fixed-odds wagering segment accounted for a significant market share in 2022. However, the eSports betting segment is likely to witness growth at the fastest CAGR during the forecast period owing to the surge in demand for interactive games
- Football, also known as soccer, registered the highest market share in 2022. Horseracing, followed by football, is extremely popular and accounted for the second-highest market share
|No. of Pages||131|
|Forecast Period||2022 – 2030|
|Estimated Market Value (USD) in 2022||$83.65 Billion|
|Forecasted Market Value (USD) by 2030||$182.12 Billion|
|Compound Annual Growth Rate||10.3%|
Key Topics Covered:
Chapter 1 Methodology And Scope
Chapter 2 Executive Summary
Chapter 3 Market Variables, Trends & Scope
Chapter 4 Sports Betting Market: Platform Estimates & Trend Analysis
4.1 Market Size Estimates & Forecasts And Trend Analysis, 2018 – 2030 (USD Billion)
4.2 Platform Movement Analysis & Market Share, 2022 & 2030
Chapter 5 Sports Betting Market: Betting Type Estimates & Trend Analysis
5.1 Market Size Estimates & Forecasts And Trend Analysis, 2018 – 2030 (USD Billion)
5.2 Betting Type Movement Analysis & Market Share, 2022 & 2030
5.3 Fixed Odds Wagering
5.4 Exchange Betting
5.5 Live/In-Play Betting
5.6 Esports Betting
Chapter 6 Sports Type Estimates And Trend Analysis
6.1 Market Size Estimates & Forecasts And Trend Analysis, 2018 – 2030 (USD Billion)
6.2 Sports Type Movement Analysis & Market Share, 2022 & 2030
6.6 Horse Racing
Chapter 7 Regional Estimates & Trend Analysis
Chapter 8 Competitive Analysis
Chapter 9 Competitive Landscape
- 888 Holdings Plc
- Betsson AB
- Churchill Downs Incorporated
- Entain plc
- Flutter Entertainment Plc
- Kindred Group Plc
- Sportech Plc
- William Hill Plc
CT Interactive Representatives to Visit Enada Gaming Exhibition
Global gaming provider CT Interactive’s representatives will visit the gaming exhibition Enada in Italy. The trade show will be held from 14-16 March in Rimini Expo Centre.
Heading to Rimini to meet with partners and new clients are Milena Tsankarska, Head of Business Development EMEA at CT Interactive, and Antonio Donov, Business Development Manager EMEA at CT Interactive. They will demonstrate during their meetings at the trade show the company’s vision and offerings over the coming months.
“Enada is a significant event for our company because the Italian market is of key importance to CT Interactive. Our games and jackpot were certified for the local market in 2021, and since then, we are successfully penetrating the jurisdiction with several content distribution deals. Our main goal is to help operators expand their game offering portfolio and attract new clients,” Milena Tsankarska, Head of Business Development EMEA at CT Interactive, said.
Interested companies and potential clients have already booked meetings with the team to learn more about the company’s products.
“We are pleased that various operators are showing great interest in our portfolio. Our team is confident that through this exhibition, we will meet many new clients and strengthen our presence in Italy,” Antonio Donov, Business Development Manager EMEA at CT Interactive, said.
Gaming Americas Weekly Roundup – March 13-19
Symplify integrates Open AI into its Engagement Ecosystem
Team Top-G crowned champions of NESC 2023; become first ever Indian female CS:GO team to qualify for World Esports Championships
Siddhanth Kapoor to Join The Player Hunt S3 for Mumbai City Round to select participants for the reality show
Gamers around the globe are invited to celebrate the Game Development World Championship Award Show online and on-site
SOFTSWISS and CoinsPaid Donate $50k to Support Turkey
Fiat & Crypto: King Billy players get the best of both worlds.
Back to the 80s with Samantha Fox Arcade, the new slot game from MGA Games
Onboarding New Coins: SOFTSWISS Jackpot Aggregator Expands its Crypto Support
Slot Development roundtable
Exclusive Spanish Market Q&A w/ João Carvalho, Sales Manager at PandaScore
Crypto Bets Drop 14.6% While Ether Grows its Share: SOFTSWISS Sums up Ambiguous 2022
The Growth of Online Gambling in the United States
Sumsub releases a complete guide to business verification highlighting compliance challenges
Wi-Flix Broadens its Content Catalog with the Addition of SPI International’s Six (6) Live TV Channels
Flows crowned ‘Rising Star’ at the EGR Nordics Awards
Compliance Updates7 days ago
Netherlands Gambling Regulator KSA Fines Bet365 for Marketing Breaches
Latest News7 days ago
Stakelogic brings the heat to PepperMill Casino in Belgium
Latest News7 days ago
PADDY POWER AND SPOTLIGHT SPORTS GROUP ANNOUNCE RENEWAL OF VIDEO CONTENT PARTNERSHIP
EveryMatrix Press Releases7 days ago
Tor Skeie appointed new OddsMatrix CEO
Asia7 days ago
Singapore Gambling Regulatory Authority to Crack Down on Use of Crypto Assets
Industry News7 days ago
Sportradar Wins Major Bid for ATP Rights
Baltics7 days ago
TOPsport makes Lithuanian slot history with record payout
Africa7 days ago
Mind Sports South Africa’s (MSSA) 2023 Gauteng Online Championships held on 11 March 2023 showed sterling results.