Latest News
Two in Three People Experiencing Gambling Problems Keep Issue Hidden
As many as 2 in 3 adults (64%) in Great Britain who have experienced any gambling problem have kept their experience hidden, new research from GambleAware has revealed. With almost 2 in 5 (39%) of those who hadn’t opened up stating feelings of stigma such as shame, guilt and fear of judgement represent key barriers to reaching out for support – the charity is issuing a call to end damaging stigma and encourage those who may be experiencing gambling harms to “open-up about gambling”.
Zoë Osmond, Chief Executive of GambleAware, said: “It’s alarming to see the number of people who are struggling in isolation. As a hidden addiction, gambling harms can be incredibly hard to spot from the outside. It is therefore critical that people impacted are aware of the wide range of support services available, and that they feel safe to come forward. Anyone can be impacted by gambling harms, but the first step is to open up and have that first conversation, ideally as early as possible.”
The campaign launch comes as research also suggests that most of the public believe certain gambling products, such as instant win games, are addictive, indicating how gambling harm can affect anyone and the importance of building empathy for those experiencing harm. Specifically, over seven in ten (71%) respondents said they believe instant win games are very or fairly addictive, followed by 64% for scratch cards and 62% for casino games.
Noteworthy football commentator Clive Tyldesley said: “I think that since I’ve started to work with charities and meet and talk with both people who gambled which were in recovery and bereaved family members, the thing that has struck me is how normal and unremarkable their backgrounds invariably are. Harmful gambling really can affect anyone and very often those suffering show no outward signs of their issues. It’s a silent, invisible problem because too often the gamblers disappear into their own feelings of embarrassment and guilt. They think they’re to blame when they are not, they think they’re alone when many others are wrestling with the same issues. Getting them to open up and talk is half the battle to beating the problem, either with people close to them or via the professional support the GambleAware website offers. The first conversation is maybe the most difficult but it’s the most soothing and the most important too.”
Professor Dame Clare Gerada said: “When I opened the doors of the nation’s first Primary Care Gambling Service a few short years ago, I was a relative newcomer to the challenges surrounding gambling. However, since then, my eyes have been thoroughly opened.
“Gambling is an addiction which can only be described as ‘uniquely’ awful: the ruin it wreaks on people’s lives can be complete and multi-layered; the collateral damage is also considerable as families and loved ones suffer alongside. Its inherently hidden nature means that, at the moment, people have to see their lives collapse around them before they get the help they desperately need. It doesn’t need to be like this. There is an incredible breadth of support service, from how to deal with debt, to how to stop gambling completely which people can access for free through the National Gambling Support Network, and I urge anyone concerned about their gambling to do so.”
Positively, the research also supports the benefits of opening up, as three out of four (76%) who had talked about their problems stated they felt better after speaking to someone. With gambling harms often manifesting as intrinsically “hidden” and isolating, GambleAware is aiming to bring to the surface the power of conversations and provide reassurance that help is never far.
The campaign has been developed in close collaboration with the gambling harms lived experienced community, and is supported by a range of expert and influential voices including ex-Love Islander Scott Thomas, who has previously experienced gambling harms.
Scott Thomas, Entrepreneur and Presenter, said: “It’s an incredibly scary thing to first tell someone that you’ve got a gambling problem. Many people assume it’s just because you can’t handle your money, but it needs to be viewed as seriously as any other mental health condition. I was terrified when I first opened up about the problems I had been having but, once I did, I felt like a weight had been lifted off my shoulders and I no longer had to hide. I want the same to happen for anyone out there who feels like they might be struggling on their own.”
There is a vast range of resources available and anyone who is worried that gambling might be affecting themselves or someone they love are encouraged to use the self-assessment tool to get free and confidential support tailored to them and their specific needs.
Elissa Hubbard, who has lived experience of gambling harms, said: “Every day was full of anxiety – trying to keep my gambling a secret, whilst finding opportunities to do it more. People think you can ‘just stop’, but you can’t… it’s so easy to be dismissed, and I didn’t want anyone to think bad of me. Finding help changed everything. I discovered that by keeping quiet, it helps no one, and when you start to talk about it, people start to understand you.”
GambleAware has also created tools to help users calculate the time and money spent gambling, served with recommendations in line with the internationally proven Lower Risk Gambling Guidelines. These are expected to become available from early December as part of a soft launch on the GambleAware website.
Dr Ellie Cannon, medical expert and commentator, said: “Gambling harms – or the negative consequences of gambling – are a complex issue that goes far beyond just financial challenges. It can lead to poor mental health, physical health, and relationships break down. They way these issues manifest will vary from person to person, but being aware and recognising the early warning signs of spending increasing amounts of time, money and hiding your gambling can help get people to a better place, sooner.”
Gambling Minister Stuart Andrew said: “Too often we see the devastating impacts of harmful gambling, and our white paper outlines a host of new measures we’re implementing to protect those most at risk. A key element of our plans is the introduction of a statutory levy on gambling companies to raise sufficient, sustainable and trusted funding for research, prevention and treatment of gambling related harm. Stigma is the biggest barrier preventing people from seeking help, and I welcome GambleAware’s vital campaign which is raising awareness of the issue and helping people get the support they need.”
Gambling in the USA
Kambi Group plc extends Mohegan partnership with on-property sports betting agreement in Pennsylvania
Kambi Group plc (“Kambi”), the world’s trusted sports betting partner, has agreed a long-term on-property sportsbook partnership with Mohegan to provide its award-winning sportsbook at two retail locations in the state of Pennsylvania.
The partnership will see Mohegan utilise Kambi’s cutting-edge retail sportsbook offering across more than 20 kiosks in sportsbook locations at Mohegan Pennsylvania and Mohegan Pennsylvania at Lehigh Valley Race and Sportsbook.
The deal further strengthens Kambi’s relationship with Mohegan, which already utilises Kambi’s suite of sports betting products at ilani in Washington, as well as online and on-property in the Canadian province of Ontario at Fallsview Casino Resort and Casino Niagara.
Kristian Nylén, Kambi CEO and Co-founder, said: “With several successful partnerships with Mohegan already in place, we are pleased to agree this new partnership as we continue to build on our strong relationship.
“This latest deal further reinforces Kambi’s position as the sportsbook provider of choice for tribes across North America, and we look forward to our ongoing collaboration with Mohegan.”
Tony Carlucci, President & GM of Mohegan Pennsylvania, said: “Mohegan Pennsylvania is excited to continue utilising the same Kambi technology platform that existed under our Kindred partnership, which will help to create a seamless process as the Sportsbook at Mohegan Pennsylvania fully rebrands later this Spring.”
JuicyBet, a Web3 startup, announced the launch of its GambleFi platform. This platform combines finance technology and gambling via blockchain to create unique opportunities and experiences for users. The company strives to revolutionize the principles of the online betting industry and the interaction between platforms and users in this market.
What is GambleFi?
GambleFi uses blockchain technology to ensure the fairness and transparency of games and betting outcomes and for players to get their share of the platform’s earnings and participate in its governance and day-to-day by holding its tokens.
How JuicyBet works
JuicyBet fully utilizes blockchain technology to establish a new ecosystem that has never been seen in the gambling industry. It is centered around user participation and transparency while providing gambling thrills and quality entertainment.
All game records on the platform are kept in a public blockchain, while a set of smart contracts automates gaming outcomes and payouts and provides for the platform governance via the DAO model. This reduces fraud risks and operational costs, making JuicyBet a more efficient platform.
However, the platform’s main feature is the unprecedented level of user engagement via the platform’s native tokens.
- First, the tokens provide access to betting.
- Second, token holders get their share of the platform’s profit.
- Third, token holders can vote on key decisions on the platform’s development in JuicyBet DAO.
- And finally, DAO participants can also perform the role of oracles for bets and earn rewards.
In other words, JuicyBet doesn’t try to be just another gambling platform. It establishes a new ecosystem where users are in control of the platform and bets and are the beneficiaries of the platform.
In addition, JuicyBet offers additional earning opportunities, such as Double Farming and staking for token holders.
JuicyBet has already been noticed by users and investors – the platform’s 3-month turnover has exceeded $1,5 million, according to on-chain data available via Dune, and multiple centralized exchanges and launchpads have listed it.
Latest News
Rivalry Announces 2023 Annual Letter to Shareholders and Filing of 2023 Annual Financial Statements
Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), the leading sportsbook and iGaming operator for Gen Z, is pleased to announce its 2023 annual letter to shareholders and the filing of its financial results for the three (3) and 12-month period ended December 31, 2023. All dollar figures are quoted in Canadian dollars.
2023 Annual Letter to Shareholders
To our Shareholders,
This time last year I spoke about Rivalry’s evolution from a market leader in esports to a diversified Company setting the standard for Gen Z betting entertainment broadly.
Today, we have a business with revenue distribution across casino, sports, and esports betting, growing market share in new geographies, with increased velocity in core regions, and the strongest customer KPIs in Rivalry’s history.
In 2023, Rivalry recorded $423.2 million in betting handle1, up 82% from the previous year. Similarly, gross gaming revenue2 and net revenue both saw 34% and 66% respective increases, while the introduction of higher margin products released in H2 such as Same Game Combos and Quick Combos are continuing to improve overall sportsbook hold and guide Rivalry closer to profitability.
Our deepened product suite now includes fantasy, additional sports coverage, and new proprietary casino games. All of which are uniquely driving growth among a targeted customer segment and widening our opportunity set in 2024 and beyond – from a 60% increase in traditional sports betting to a burgeoning B2B game vertical. The potential for how far our brand can go is just beginning to unfold.
The year ahead is rife with new, innovative product releases arriving in Q2 and continuing throughout 2024. We are doubling down on core growth opportunities in sports that resonate with our audience, such as basketball and soccer. Further, we are building on a successful casino segment which already represents 50% of our business, enhancing variety, depth, and accessibility, as well as developing new original games which blur the lines between betting and entertainment. We are in the process of additional geographic expansion, and pursuing new licenses to broaden our total addressable market, positioning Rivalry to own the Gen Z gambling opportunity globally.
While Rivalry’s operations have expanded into new high-growth verticals, our north star has remained the same: to define the future of online gambling for a generation born on the internet.
Online gambling in 2024 is radically different than it was just six years ago when Rivalry launched. In that time we’ve seen gaming and internet culture reshape how consumers engage with technology. That shift is broadening the definition of gambling, where product design is influenced by video games, or it exists fully embedded within social apps like Telegram, where content creators are the new affiliates, and much more.
Over the same period, the rise of cryptocurrency and blockchain technology has introduced a new level of speed, access, and security to web-based consumer experiences. Industry estimates now put crypto wagers at up to one quarter of global betting handle3, with 30% year-over-year growth in 20244, and showing no signs of slowing down.
The development of this ecosystem has commercially unlocked online gambling unlike anything since its first transition from land to online many years ago. It has brought in a new global audience, and enriched the customer experience from end-to-end.
Alongside the growth of this technology has emerged new methods of gambling, taking wallet share from more traditional forms at an accelerated rate. The shift in consumer behavior and the signal from our users is clear – interactive, volatile, and crypto-infused product experiences will set the precedent for how the next generation gambles online.
Rivalry, with a brand steeped in internet culture and living at the intersection of this digital economic renaissance, is well-positioned to access this growth opportunity. There is high overlap between Gen Z, gamers, gamblers, and a fast-growing audience of over 420 million crypto users worldwide5 organically aligned with our audience and brand. And we believe that more than half of this audience globally is already wagering with crypto.
It will be Rivalry’s ability to understand, implement, and adapt to this shift more rapidly than our peers that we expect to create first-mover advantages for us. It is for that reason that our vision is now bolder than ever for what’s possible in the online gambling category.
Soon, we will reveal plans for a crypto-enabled product set to enhance alignment between Rivalry and its users, increase network effects, and generally deliver a consumer experience that lives on the internet of 2024.
To that effect, the success of our first-party games and their ability to acquire and engage a captive audience of Gen Z bettors online has validated our original game development strategy amongst industry peers. This has unlocked a new commercial opportunity for Rivalry to license its IP, opening up another line of revenue for the business that has great potential for global scale.
The year ahead is poised to be one of our most ground-breaking, with a myriad of innovative product releases across all of Rivalry’s verticals, adding more dimension to our business, operations, and addressable audience, and building on our competitive moat as the market leader in Gen Z betting entertainment.
We look forward to sharing more details about these upcoming initiatives, the opportunities they will unlock for our Company, and delivering on our promise to create long-term shareholder value and reach profitability. Thank you all for your continued support.
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