By: Danil Emelyanov, Head of AI Labs, Betby

First of all, the regulation of AI is inevitable. The EU was the first to step into this arena with the EU AI Act, setting a precedent that other parts of the world will likely follow. This proactive approach positions the EU as a leader in AI governance, but it also means that regions adopting similar regulations later might benefit from the lessons learned and adjustments made in response to early implementations.

The downside is that those who come last to the regulatory scene might indeed benefit the most. For instance, the competitive landscape in AI innovation currently favors new entrants in the US or UK over Europe, partly due to the stringent compliance requirements of the EU AI Act. This regulation could potentially affect the flow of investments into European AI ventures, making regions with more flexible or yet-to-be-defined regulations more attractive for AI start-ups and investors.

However, the positive aspect is the collaborative approach the EU has taken in drafting this legislation. It’s not a one-way mandate from legislators to businesses; rather, it involves dialogue and input from various stakeholders, including tech companies and open-source communities. Notably, there are exemptions for open-source AI models, likely influenced by contributions from French and German tech firms like Mistral and Aleph Alpha, which have been vocal about the importance of open-source innovation.

The AI Act predominantly focuses on regulating foundation models rather than classic machine learning models. The legislation sets a computational power threshold at 10^25 floating-point operations per second (FLOPS), below which AI systems are generally exempt from stringent regulations. This threshold implies that unless an organization is training a model on the scale of GPT-3.5 or larger, compliance concerns are minimal. This serves as a reminder of the value of simpler machine learning techniques like logistic regression and random forests, which can effectively solve business problems without the complexity and regulatory scrutiny of more advanced models.

For the iGaming industry, the implications of the EU AI Act are relatively manageable. Our legal teams will diligently study the law to ensure compliance, even if it means a slight reduction in the accuracy of our models. This cautious approach is necessary because the fines for non-compliance are substantial, ranging from 1.5% to 7% of global turnover, depending on the severity of the offense and the size of the company. Additionally, some aspects of the Act are vaguely defined, which could pose challenges in interpretation and application.

Despite these challenges, the iGaming sector should remain vigilant. Staying informed about regulatory updates and actively engaging with the regulatory process can help mitigate risks and ensure smooth compliance. The EU AI Act sets high standards for transparency, accountability, and ethical AI use, which, whilst demanding, also push the industry towards more responsible AI deployment.

LeoVegas Group is happy to announce a new multi-year partnership with Premier League club Wolverhampton Wanderers F.C., which will see the leading sports betting brand BetMGM becoming the club’s Official European Betting Partner. The Group has been a partner of the club since the 2023/2024 season, successfully boosting international brand awareness and recognition of the Group’s brands. 

The new partnership will see BetMGM feature on Wolves’ double row pitch-side LED advertising system, static branding sites, and media interview backdrops at Molineux Stadium and the Sir Jack Hayward Training Ground for the 2024/2025 and 2025/2026 seasons.

Russell Jones, GM Marketing & Commercial Growth at Wolverhampton Wanderers F.C. said “We’re delighted to announce this partnership with BetMGM UK, and thank them for their support as we head into the 24/25 Premier League season.

“Their support is invaluable to the club as we look to expand our portfolio of commercial partners and we look forward to working with the BetMGM team over the next two seasons.

Sam Behar, UK Director BetMGM, said “It’s been almost a year since we started collaborating with Wolves, and we are very excited to continue this successful, awareness-boosting partnership for the next two years. Wolves are one of the most established clubs in the Premier League, and we can’t wait to see them in the first game of the season against Arsenal in August!”

BETBY, a leading provider of B2B sportsbook solutions, has unveiled a detailed analysis of betting trends observed during the Champions League 2023/2024 season, focusing extensively on the climactic final match between Real Madrid and Borussia Dortmund. This report offers valuable insights into the intricate relationship between player behavior and betting activities within one of football’s most prestigious tournaments.

Of particular interest is the scrutiny of the final showdown between Real Madrid and Borussia Dortmund.

The report covers various key aspects, including:

Segmentation of Overall Betting Volume: Analysis of the total volume of bets placed throughout the Champions League 2023/2024 season.

Types of Bets: Examination of the most popular types of bets placed by viewers and bettors during the tournament.

Evolution of Betting Odds: Insights into how betting odds fluctuated across different stages of the tournament, including pre-match and live betting markets.

Player Performance Impact: Assessment of how individual player performances influenced betting patterns and market dynamics.

Final Match Focus: Detailed exploration of betting behaviors and market shifts during the high-stakes final match between Real Madrid and Borussia Dortmund.