Latest News
Betsson is Shutting Down Betsafe Sportsbook in Colorado
Betsson Group, the Swedish gaming giant, has decided to shut down its Betsafe Sportsbook operations in Colorado by the end of September 2024. This move is part of a broader strategy, reflecting European operators’ challenges in the competitive US sports betting landscape. All in all, four sportsbooks shut down operations in Colorado during September, and Betsson’s exit raises questions about the sustainability of European operators in the US, as the market is being consolidated with many operators exiting the US market this year.
A Betsson spokesperson confirmed the news:
“Betsson has decided to discontinue its B2C operations in Colorado (USA) at the end of September 2024. So, for the foreseeable future, we will not have any B2C offerings in the US. As communicated initially, our B2C operations in Colorado served primarily to display our sportsbook for B2B purposes and to provide us with valuable first-hand insights into the dynamics of the US online sports betting market.”
Betsafe entered the Colorado market in March of 2022, hoping to capture a share of the ever-expanding sports betting space. Still, as more and more US states are embracing legalized sports wagering, new sportsbook providers have flooded the market, making it difficult for smaller operators to gain a foothold. Betsson’s choice to cease B2C operations in Colorado indicates the structural difficulties non-native brands face that rely heavily on brand recognition and marketing to attract customers. Before the Betsafe sportsbook launch, Betsson U.S. Account Director Lance Agostino said:
“We knew our strengths as a large operator and what it would take to get into the market. We evaluated coming in as Betsson, but quickly realized that would be too costly. Instead, we decided that, first and foremost, we wanted to bring our technology over here to offer to other partners and providers. One of the first questions we get asked in RFPs or procurement processes is ‘where else are we live in North America?’ So, we decided it was probably more pragmatic and faster to go ahead and get live ourselves with the Betsafe brand, so we are able to play in our own sandbox.”
In the past year, the Colorado sportsbook market has seen notable service providers’ departure, highlighting the intense pressures even well-established brands can experience in this rapidly evolving sector. Betsson is the second major operator to exit the state within a short timeframe, along with multiple smaller brands, generating a fair amount of speculation regarding the future of such companies in the US market. While Betsson has been expanding its operations across various jurisdictions, Colorado has presented unique difficulties.
One critical factor impacting Betsson’s decision is the US states’ changing regulations and licensing requirements. As regulations shift and evolve, companies must adapt quickly to maintain compliance and operational effectiveness, which can strain resources. Despite these challenges, Betsson remains committed to other territories where it has established its presence, showcasing its adaptability with a strong portfolio of products and services designed for various gaming preferences.
Another factor is international operators’ marketing and promotional budgets in America. Companies often invest heavily in customer acquisition, but sustaining that momentum can prove hard as consumer preferences shift. Betsafe’s marketing efforts in Colorado may have been significant, but the fierce competition with homegrown brands like FanDuel and DraftKings made them less effective.
Industry analysts have suggested that Betsson’s closure of Betsafe could open up discussions about potential mergers or collaborations in markets where maintaining exclusive operations is not yielding expected returns. As operators continually refine their approaches, the US sports betting landscape remains fluid.
Ultimately, Betsson’s withdrawal from the Colorado market through Betsafe is representative of the larger challenges European gaming companies face in the US. The focus now shifts to how other operators respond to these challenges and whether they can capitalize on the evolving market conditions. As Betsson realigns its focus and resources, the implications of such a move will be closely observed by industry stakeholders interested in the future of sports betting in America.
Betsafe’s departure serves as a critical reminder that while ambition and innovation define the sports betting industry, the realities of competition and regulation will always play a pivotal role in determining success.
Industry News
Endorphina Affiliate Hub: Huge Benefits for Affiliates
Endorphina, a leading developer of online casino games, has announced its new, groundbreaking Affiliate Hub. This centralized information base offers an improved user experience and a wide range of benefits for Endorphina’s affiliates.
Among the number of benefits, Endorphina’s Hub offers:
- Access to a wide range of downloadable materials including videos, high-resolution images, banners, brand guidelines, graphic sets, and other resources.
- Staying informed through a centralized hub for all Endorphina news, updates, and announcements.
- A fully localized affiliate page in Spanish, allowing Spanish-speaking affiliates to access all necessary resources in their native language.
Take advantage of the updated Affiliate Hub – visit endorphina to check.
The Affiliate Hub also simplifies the registration process for new affiliates and is now available for access. Endorphina promises further exciting developments in the future. Joining the Endorphina Affiliate Hub gives affiliates access to contacts of relevant people and quick support from Endorphina’s team.
Industry News
iGB Affiliate attracts registrations from 55 nations in just six weeks
iGB Affiliate which runs 20th – 23rd January alongside ICE at its new home at Fira Gran Via in Barcelona has affirmed its growing international credentials with igaming professionals from 55 nations already registering to attend, placing the show on course to break through the 100-nation landmark for the first time.
With the ‘Nuevos Horizontes’ (New Horizons) theme spearheading an international marketing campaign which went live in September the most represented nations comprise the UK, Israel, Malta, Cyprus, Spain, Italy and India.
Additional insights drawn from the data confirm the growing influence of Latin America with 35% of those registering operating in the region. In important news for exhibitors seeking fresh business opportunities, 1 in 12 of the total iGB Affiliate 2025 registrations are poised to attend the expo for the first time, bringing brand new attendees and potential partnerships to iGB Affiliate 2025.
Naomi Barton, iGB Events Global Portfolio Director, believes the registration data provides a window on the industry and the trends which underpin it. She stated: “One of our stakeholders predicted that iGB Affiliate 2025 would be – to quote him – a ‘really monstrous event’ and the data is supporting that opinion.
“All of our numbers are significantly up and the geographical distribution, in particular the 35% who operate in LatAm, reflect accurately what’s happening in the sector where the region, spearheaded by Brazil, has taken over from the US as the main geographical focus for affiliates.”
She added: “The industry is responding enthusiastically to a show which will feature a record 250 industry-leading exhibitors and sponsors and host a vibrant community of 8000+ iGaming Affiliates and Tech Vendors.
“The iGB Affiliate pledge is to facilitate outstanding business networking, deliver high-quality content, and provide thought leadership that fosters trust-based partnerships and drives growth throughout the iGaming affiliate ecosystem.
“By consistently delivering on these core objectives iGB Affiliate Barcelona will deliver a critical platform and opportunity for profitable business expansion.”
For more information including access to free Affiliate passes: barcelona.igbaffiliate.com
Latest News
Former Gambling Minister the Rt Hon Stuart Andrew MP to speak at Bacta’s Annual Convention
The former Gambling Minister the Rt Hon Stuart Andrew MP who was named Shadow Secretary of State for Culture, Media & Sport in Kemi Badenoch’s top team has agreed to speak at the forthcoming Bacta Annual Convention which is taking place on Thursday 28 November.
Bacta members are on course to be at the 2024 Convention in record numbers based on the number of pre-event registrations received for the high-profile industry event.
With three weeks to go registrations are ahead of the same stage last year with members responding positively to Bacta’s ‘Going for Growth’ theme set against the new political landscape punctuated by Labour’s landslide General Election victory in July and November’s election of Kemi Badenoch as Leader of the Conservative Party. The confirmed attendance of the former Gambling Minister is likely to accelerate registrations.
Looking ahead to Convention George McGregor Bacta’s Executive Director (Government Relations) said: “First of all I am delighted that Stuart Andrew who oversaw the White Paper only to see it paused by July’s snap general election has agreed to join us at our Annual Convention. Members are responding in great numbers to both the Parliamentary Reception which is officially at full-capacity and to the Convention taking place the following day.”
He added: “Our keynote speakers which will include Stuart Andrew will feature in a panel which will explore amongst other topics the dynamics of the relationship between the industry and government, the fate of the White Paper and how we can collectively determine a future in which gaming operators are not expected to wait over a decade before they can raise their prices!”
He continued: “The Annual Convention is an important benefit of Bacta membership. It represents an invaluable opportunity to network with colleagues and quiz the politicians and officials who play such an important role in determining the future of an industry which pays an estimated £270 million in tax and contributes £1.9 billion to UK GDP.
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