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World Pool: UK and Irish racing hits £475 million

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Turnover on World Pool bet types on British Champions Day totalled HK$202.7 million (£21.4 million), bringing the figure for all races commingled during the 19 World Pool days in the UK and Ireland to HK$4.7 billion (£475 million).

King George Day at Ascot saw the biggest jump in turnover, rising from HK$253m to a new record of HK$287m, an increase of over 13%, while 2,000 Guineas Day as well as days one and three of Royal Ascot also posted year-on-year increases.

The overall total is only marginally down on 2022’s figure of HK$4.9bn, but still significantly up on 2021 (HK3.9 billion).

Prize money won across the 131 World Pool races in the UK and Ireland this year has hit a record high of £32 million, while the World Pool Moment of the Day initiative has seen £68,000 given out – £4,000 for each of the 17 World Pool Moment of the Day winners.

Ebbe Verhestraeten, groom of Big Rock, was awarded Moment of the Day on Saturday and he will have a chance of winning a VIP trip for four to Hong Kong next year if he is to win World Pool Moment of the Year.

Outside of the UK and Ireland, World Pool meetings in Dubai, Saudi Arabia, South Africa and Australia have all posted record turnover numbers, while World Pool will be active for two further meetings in Australia: Cox Plate Day and Victoria Derby Day.

Earlier on Saturday, the Caulfield Cup broke the record for the highest turnover on a World Pool race in Australia with HK$54.24 million (AUD$10.98 million) bet into the pool, eclipsing the HKD$51.54 million (AUD$10.43 million) bet on the previous weekend’s Everest. Only two World Pool races this year – the Queen Elizabeth II Jubilee Stakes and the Dubai World Cup – have had bigger pools.

In the UK and Ireland, World Pool is accessed via the Tote, at racecourses, online and via the Tote App. All customers betting directly with the Tote benefit from Tote Guarantee which ensures all Win bets will always exceed or match the industry Starting Price.

Tote value for UK and Irish customers betting into World Pool on British Champions Day:

·        Tote Win beat the Industry Starting Price in 5 out of the 6 races and matched on the remaining occasions

·        Tote Win overround was 112% versus an industry Starting Price of 120%

·        Tote Exacta beat Forecast in 6 out of the 6 races

·        Tote Trifecta beat Tricast in 5 out of the 6 races

Tote value for customers betting on the 19 British and Irish World Pool days 2023:

·       Tote Win beat the Industry Starting Price in 66% of races and matched on the remaining occasions

·        A £1 bet with the Tote on every winner on British and Irish World Pool days in 2023 paid £263 more than the industry Starting Price

·        Tote Win overround was 109% versus an industry Starting Price of 122%

·        Tote Exacta beat Forecast in 78% of races

·        Tote Trifecta beat Tricast in 84% of races races where the Tricast operated

Michael Fitzsimons, Executive Director, Wagering Products of the HKJC, said: “We are really pleased with how World Pool has been received in the UK and Ireland again this year and the turnover figures look strong against a challenging economic backdrop.

“There are many more opportunities for growth in the UK and Ireland and we look forward to being able to roll out World Pool at even more of the season’s flagship race days. Having the Lockinge, the Irish Derby and the Sun Chariot as World Pool events for the first time this year worked really well, and we look forward to adding more days in the future.

“We’d like to thank all of our partners, including the UK Tote, Racecourse Media Group and Ascot Racecourse – who have all been with us since World Pool was first created in 2019 – for all their hard work in making it another highly successful season.”

Alex Frost, Chief Executive of the UK Tote, said: “We are delighted that British and Irish racing has enjoyed such a successful World Pool season in 2023. It is incredibly positive to see revenues from World Pool supporting racecourses’ investment in prize money which was at a new record of £32 million for World Pool races this year. This highlights the increasingly important role pool betting is playing the in the future sustainability of the sport.

“Following our new five-year agreement with the Hong Kong Jockey Club, making the UK Tote the exclusive partner for World Pool in the UK and Ireland, we look forward to collaborating on exciting developments, including new bet types and further improvements to the customer experience for the 2024 season.”

Martin Stevenson, Chief Executive Officer of Racecourse Media Group (RMG), which represents the media interests of The Jockey Club, Newbury, Goodwood, York, The Curragh and Leopardstown racecourses, said: “World Pool has been a hugely important initiative for British and Irish racing to grow revenues and prize money, and it’s been great to see such strong performance again in 2023.

“We’ve added three new race days to the calendar this year with the Lockinge, Irish Derby and Sun Chariot, and hopefully we’ll be able to add some more in 2024.

“It’s been a pleasure working with the Hong Kong Jockey Club, UK Tote and all of our racecourses on World Pool this season and we are already looking forward to 2014.

Industry News

Entain: Strategic Progress and Trading Momentum Continues into H2 2024

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Entain plc, the global sports betting and gaming group, has provided an update on further strategic progress and trading performance delivered so far in the second half of 2024.

New CEO
As announced on 22 July 2024, Gavin Isaacs joined Entain as Chief Executive Officer on 2 September 2024. To ensure a smooth transition, Stella David is working alongside Gavin until she succeeds Barry Gibson as Chair of Entain on 30 September 2024.

Further progress in US
Launched ahead of the 2024 NFL season kick off, BetMGM’s sports betting experience now includes enhanced parlay and player prop offerings powered by Angstrom’s differentiated market pricing capabilities, as well as new streamlined live betting and bet slip features. BetMGM is also now the first sports betting app to offer Nevada bettors seamless, nationwide connectivity through a single, digital wallet.

H2 trading to date
As evidenced in the H1 results on 8 August 2024, the company continue to make strong progress with the focused execution bearing fruit across the operational performances. The improving momentum delivered during Q2 has continued, with Online Net Gaming Revenue (NGR) growth during H2 2024 to date ahead of the expectations.

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Compliance Updates

Betsson Group shortlisted for 4 awards at the Global Regulatory Awards

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Betsson Group shortlisted for 4 awards at the Global Regulatory Awards
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Betsson Group has managed to secure four award nominations for the 8th edition of the Global Regulatory Awards. Held annually since 2017, the awards hosted by Vixio, a leading provider of regulatory intelligence solutions, recognise the achievements of individuals, teams, and organisations in the gaming industry that have excelled in compliance, corporate social responsibility, and safer gaming.

According to the official website of the Global Regulatory Awards, Vixio received a record number of submissions this year, making 2024 their most competitive year by far.

The 2024 Global Regulatory Awards ceremony is scheduled to take place in London on 4th December 2024.

Betsson Group is shortlisted for three company awards and one individual award.

1. Commitment to Compliance by an Operator

This award celebrates a leading compliance initiative by a gambling operator that has significantly improved internal expertise and set a new standard for industry best practices. The judges will look for an initiative that demonstrates transformative improvements in processes, technology, reporting, and training, while also promoting best practices across the sector.

2. Chief Compliance Officer of the Year – Corinne Valletta

This award celebrates an exceptional compliance leader who consistently exceeds expectations, expertly navigates regulatory challenges, and has significantly elevated the compliance standards within their organisation through pragmatic solutions, operational transformation, and thought leadership. The award seeks a leader who actively collaborates with management, their team, and regulatory bodies to foster a culture of compliance. Judges will look for concrete examples of the nominee’s impact, including industry conference appearances, introduced training initiatives, and demonstrations of thought leadership.

3. Compliance Team of the Year

This award honours a compliance team within an organisation that actively fosters a culture of compliance, responding effectively to regulatory changes and driving their organization to lead in new compliance standards. Judges will evaluate how the team has cultivated a compliance-focused culture, collaborated across the organisationinitiated training, and influenced business practices and industry engagement, including with trade associations. Special consideration will be given to teams that have led their organisation into new compliance jurisdictions in emerging markets.

4. Legal Team of the Year

This award recogises a legal team that protects the company’s reputation by ensuring compliance with regulations, demonstrating exceptional problem-solving, analytical, and organisational skills, and proactively advising management. Judges will assess how the team promotes best practices, keeps the business ahead of regulatory changes, and minimises the impact on both the bottom line and daily operations.

In conclusion, the above nominations highlight Betsson’s strong compliance culture and commitment to raising its standards in compliance to ensure a safe and stable business.

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Industry News

Andrew Cardno to Speak at Mid-year IGA about Safeguarding Data in AI-Enabled Tribal Casinos

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Andrew Cardno, the Chief Technology Officer of Quick Custom Intelligence, a recognized expert in data analytics and gaming technology, will be a featured speaker at the upcoming Mid-Year Indian Gaming Association (IGA) conference at the Tulalip Resort Casino in Tulalip, Washington. He will deliver a presentation on the critical topic of “Safeguarding Data in AI-Enabled Tribal Casinos.”

As Artificial Intelligence (AI) continues to revolutionize the gaming industry, its integration into casino operations has opened new avenues for enhancing player experiences, optimizing business strategies, and improving overall security. In his session, Cardno will explore how AI is not just a tool for innovation but also a pivotal element in maintaining the integrity and safety of tribal casinos.

Cardno’s presentation will delve into several key areas:

  • Personalized Player Experiences: Demonstrating how AI can tailor game recommendations to individual players, creating more engaging and customized gaming experiences.
  • Advanced Security Measures: Highlighting AI’s capabilities in detecting and preventing fraudulent activities, ensuring a secure gaming environment.
  • Optimized Pricing Strategies: Discussing how AI can help casinos adjust pricing dynamically to maximize revenue and enhance profitability.
  • Enhanced Customer Service: Showcasing the use of AI-driven chatbots to provide efficient and personalized customer support, improving player satisfaction.
  • Refined Marketing Approaches: Examining how AI can refine marketing strategies for more targeted outreach, ensuring the right messages reach the right audiences.

Cardno will also provide insights into how AI-driven efficiencies can significantly reduce operational costs, allowing tribal casinos to allocate resources more effectively and make data-informed decisions that boost overall profitability.

“AI is transforming the landscape of casino operations, offering unprecedented opportunities for growth and innovation,” said Cardno. “However, with these advancements comes the critical responsibility of safeguarding data. My session will focus on how tribal casinos can leverage AI to enhance their operations while ensuring that data security remains a top priority.”

Victor Rocha, Conference Chair of the Indian Gaming Association, expressed his enthusiasm for Cardno’s participation. “We are thrilled to have Andrew Cardno speak at this year’s Mid-Year IGA conference,” said Rocha. “His expertise in AI and data analytics is unparalleled, and his insights on safeguarding data in AI-enabled tribal casinos come at a crucial time for our industry. This is an important topic that impacts the future of gaming, and we are excited to offer our attendees the opportunity to learn from one of the best in the field.”

The Mid-Year IGA conference is a premier event that brings together industry leaders, tribal gaming executives, and technology experts to discuss the latest trends and challenges in the gaming sector. Andrew Cardno’s presentation, on Wednesday September 18th at 9am, is expected to be one of the highlights of the conference, providing attendees with actionable insights into the future of AI in tribal casinos.

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