Connect with us
SOFTSWISS

Latest News

BGC Members Make Record Horserace Betting Levy Contribution

Published

on

Reading Time: 3 minutes

 

Betting and Gaming Council members are expected to contribute a record £105m in levy payments to the Horserace Betting Levy Board for last year, new figures reveal.

The figure, provided by the independent Horserace Betting Levy Board, is an increase of £5m on the previous year.

As a result of this record additional funding from bookmakers, the HBLB announced an increase of £3.2m in its prize money contribution for 2024 versus 2023, from £67.3m to £70.5m.

It is the third year in a row that Levy contributions have increased, from £97m in 2021/22, to £100m in 2022/2023 and now £105m in 2023/2024.

According to the Horserace Betting Levy Board, the £105m total is derived from the receipt of provisional end of year submissions from most Levy-paying bookmakers.

Michael Dugher, Betting and Gaming Council CEO and Acting Chair, said: “This record contribution to the Levy is extremely welcome news and demonstrates once again the enduring, mission critical support regulated betting provides British horseracing.

“Despite a double digit decline in horserace betting turnover over the past five years – and a double digit decline in racecourse attendances – this shows that levy contributions and prize money are both up, and it once again provides a timely reminder that racing could not survive without the record financial support that is flowing from betting.

“Our members remain committed to the long-term success of horseracing, and the huge economic contribution it makes across the country, especially in rural communities.

“Attention must now turn to how we challenge vested interests, introduce real change and reform the sport, ensuring we reverse the current decline and provide racing with a genuinely long term sustainable future.”

Horseracing is the second biggest spectator sport in the UK, second only to football, with around five million people attending approximately 1400 fixtures annually across 59 racecourses.

However, the sport has been in decline in recent years. In 2007, 17% of the population enjoyed horserace betting the previous year, but that fell to 10% in 2018, while racecourse attendances have dropped by 14% since 2019.

Meanwhile, horserace betting turnover for April to December 2023 is down 17% vs the average for the same period across the last five years.

The BGC has made significant efforts to lessen the impacts on racing as a result of the Government’s White Paper on gambling reforms, particularly on the issue of affordability.

Earlier this month the BGC announced a new voluntary industry Code on Customer Checks which raises standards, while reducing the need for requests for private financial documents.

Developed jointly with the Gambling Commission and backed by Government, this Code will operate as a voluntary interim scheme – bringing consistency across the regulated sector for operators who adopt it – until the frictionless financial risk assessments set out in the Government’s White Paper can be developed, tested and implemented.

While this Code delivers progress on resolving the issue of intrusive document checks, it does not offer a complete solution. So, the BGC and GC are now actively working on a new Code on Anti-Money Laundering checks, which also trigger requests for documents.

The BGC is currently working with the British Horseracing Authority and government to resolve a settlement on a new voluntary Levy to support horseracing.

It is estimated BGC members contribute around £350m a year to British horseracing in Levy, media rights and sponsorship deals.

Meanwhile the wider regulated betting and gaming sector supports 110,000 jobs, generates £4.2bn in tax and contributes £7.1bn to the economy.

Each month around 22.5m adults in Britain enjoy a bet, whether it’s buying a lottery ticket, having a game of bingo, visiting a casino, playing online or having a wager on football, horseracing and other sports.

The most recent NHS Health Survey for England estimated that 0.4% of the adult population are problem gamblers.

Latest News

EGT Georgia to showcase latest iGaming developments at SBC Summit Tbilisi 2024

Published

on

Reading Time: < 1 minute

EGT Georgia will participate in the upcoming SBC Summit Tbilisi, taking place on June 25 and 26. The company will present its newest iGaming products at stand A60.

Visitors will have the opportunity to explore a diverse array of online slot games from EGT Digital, which now includes over 100 titles available in more than 50 markets worldwide. Additionally, the in-house developed “all-in-one” betting platform X-Nave will be on display, featuring its four main modules: CRM Engine, Sports Product, Casino Aggregator, and Payment Gateway.

Each module can function as part of the comprehensive solution or operate independently, as they allow for integration with third-party developments.

“We are excited to welcome everyone who wants to enhance their business success and show them how our developments can help achieve that,” said Denis Karpovich, CTO at EGT Georgia.
In addition to exhibiting, the company will serve as a presenting partner at the event. Mr. Karpovich will moderate the session “TechFuel: Role of Technology in Market Development” on the second day of the conference.

He shared: “I am thrilled to moderate a discussion on such an engaging topic, exploring the practical applications of AI in improving customer experience and game development. The session will include compelling case studies from leading tech companies, and I am confident it will provide valuable insights for professionals in the sector.”

Continue Reading

Latest News

INSPIRED DELIVERS BESPOKE GOLD CASH FREESPINS™ TITLE FOR BETFRED RETAIL

Published

on

Bonus and a gamble feature, this game promises excitement at every spin.
Reading Time: 2 minutes

Inspired Entertainment, Inc. (“Inspired” or the “Company”) (NASDAQ: INSE), a leading B2B provider of gaming content, systems, and solutions along with The Betfred Group, UK based bookmaker proudly announce the launch of Betfred Gold Cash Freespins™.

Immersing players in the atmosphere of Betfred’s distinctive style, Betfred Gold Cash Freespins is a 5-reel, 4-row, 40-win line slot adorned with Betfred-branded Wilds and symbols. Enhanced by a Free spins Bonus and a gamble feature, this game promises excitement at every spin. Triggering the Free Spins bonus requires three bonus symbols in a single spin, rewarding players with eight free spins.

Players have the opportunity to wager for additional Free Spins or to increase their cash winnings through the gamble feature. With a choice between two gamble wheels, players select their preferred wheel to activate this exciting feature. Featuring stacked Wilds on reels two, three, and four, these symbols act as substitutes for any other symbol on the reels, adding an element of excitement and anticipation to the gameplay.

Betfred Gold Cash Freespins seamlessly merges Betfred’s iconic branding with Inspired’s captivating gameplay from the Gold Cash Freespins theme, delivering an immersive and personalized gaming journey tailored to Betfred’s audience. This collaboration showcases Inspired’s expertise in crafting tailored gaming experiences that resonate with individual operator brands.

Inspired’s UK Product Director, Richard Terry, said:  ‘We are proud and excited to be re-launching Gold Cash Freespins in partnership with our long-term customers Betfred. Gold Cash Freespins is extremely popular with players across all gaming verticals and has been transformed for retail with game optimisation functionality and the addition of the iconic Betfred branding.

Speaking ahead of the launch, Betfred’s Head of Retail Marketing, Clare Smith, said: “We’ve been delighted to work with Inspired to bring this new and innovative game to our loyal customers and believe they will be equally as excited by it as we are!”

Continue Reading

Latest News

Aviatrix and Games Global partnership cleared for takeoff

Published

on

Aviatrix has landed yet another content deal, this time with platform provider Games Global.
Reading Time: < 1 minute

Aviatrix, the fast-growing crash game featuring innovative engagement mechanics, has landed yet another content deal, this time with platform provider Games Global.

Aviatrix joins Games Global’s portfolio of world-class content and its distribution network, which reaches hundreds of iGaming brands worldwide.

It means players at Games Global’s operator partners will enjoy the most talked-about crash game on the market, complete with NFT-based engagement mechanics and regular updates.

Aviatrix regularly launches new features and functionality to keep the game fresh and exciting. These include free bets that can be accessed in-game via promo codes, and seasonal themes related to major events and celebrations, like St. Patrick’s Day or Euro 2024.

Mikalai Pobal, Co-founder and CBD at Aviatrix, said: “We really respect Games Global, because like Aviatrix, they’ve very quickly assembled a great team which is driving genuine innovation in our sector. We’ll continue to focus on delivering the very best experience to our players, now with the support of Games Global. We’re going to make fantastic partners.”

Andy Booth, Chief Product Officer at Games Global, said: “We constantly strive to offer operators the industry’s very best gaming content, bringing together the highest quality partner games to complement our exclusive portfolio. We’re thrilled to see Aviatrix take flight on our Games Global PLUS aggregation platform, elevating our third-party offering to new heights. The product really has been flying high since it launched, and we look forward to working with the Aviatrix team to ensure continued success.”

Continue Reading
Advertisement
Alpha Affiliates
Advertisement

EveryMatrix

Advertisement

Launch your iGaming business swiftly and effortlessly with our comprehensive turnkey solutions

Advertisement
Stake.com
Advertisement

Trending (Top 7)

Get it on Google Play

EuropeanGaming.eu is a premier online platform that serves as a leading information hub for the gaming and gambling industry. This industry-centric media outlet reaches over 200,000 readers monthly, providing them with compelling content, the latest news, and deep-dive insights.

Offering comprehensive coverage on all aspects of the gaming sector, EuropeanGaming.eu includes online and land-based gaming, betting, esports, regulatory and compliance updates, and technological advancements. Regular features encompass daily news articles, press releases, exclusive interviews, and insightful event reports.

The platform also hosts industry-relevant virtual meetups and conferences, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - European Gaming is part of HIPTHER. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.