iGaming Industry
Bookmakers warn of “tough times ahead” as regulators crack down on Australian gambling
Australia has the world’s largest gambling spend per head. The Melbourne Cup celebrations cause bookies to warn that party could soon be over as political pressure mounts.
Australia hosted its 157th Melbourne Cup on Tuesday, and parties following the prestigious race event stretched into the early hours – particularly from those of the Emerald Isle. Irish runner Rekindling galloped past the post and claimed the victory, with the nation claiming the top three finishers.
One lucky punter scooping AU$1 million ($767,000 USD) in a TAB promotion and another pulling $151,255 ($115,000USD) from a $50 trifecta wager.
But while punters and the race industry celebrate long into the night, bookmakers have warned that the party could be over for the nation’s betting industry.
Gambling faces a significant backlash from lobbyists and politicians, who are concerned that having the world’s largest gambling spend is also creating the world’s largest gambling problem.
Huge gaming market sparks fears over player safety
Australia has a relatively small population and a well-established betting scene, but it is not as lucrative a market for operators as Las Vegas, Macau or Singapore. However, the AU$23 billion (US$17 billion) market sees the highest spend per person per year, with the average annual loss hitting US$990 in 2016.
A Household, Income and Labour Dynamics survey in August revealed that there are 200,000 problem gamblers in Australia, while figures from the Australian Gambling Statistics Bureau show a spend of $1,241.86 per adult per year.
This is a sharp 7.7% increase on figures from 2014-15, suggesting that gambling spend is rising fast.
While increased spend is usually good for business, bookmakers and casino operators face a backlash from anti-gambling lobbyists who feel there is too little regulation in the gaming industry. To appease campaigners and lessen the general public’s fears, politicians and regulators are trying to crack down on the gambling industry with new taxes and laws.
Bookmakers warn of hard times ahead
The two key measures introduced to curb problem gambling rates are changes to advertising rules and a new point of consumption tax, applied to net wagering revenues and gambling losses at a rate of 15% in South Australia this summer, with other states set to follow.
Bookmakers have warned that the tax could severely reduce profits and could even make operating within the nation an impossibility in the future.
The Financial Times reports that foreign operators William Hill, Bet365 and Ladbrokes have posted losses since they entered the Australian market, while native operator Sportsbet says a nationwide roll-out of the consumption tax could cost the company half of its pre-tax profits.
“There are tough times ahead… This is an earthquake – a seismic event for the industry,” warned Sportsbet CEO Cormac Barry.
Barry’s comments come as another major change takes effect. Advertising laws in Canberra will be changed to prohibit sports bet advertising on television during matches, and before 8.30pm.
Rules may also be introduced which prohibit the promotion of free bets, deposit bonuses and other rewards for players who sign up.
If the laws have an impact, they could be rolled out nationwide – which would severely limit the reach of gambling advertisers and cut them off from their key audience: sports fans.
Calls for pokie reform go unheard
While anti-gambling campaigners will be pleased that advertising laws are changing to limit vulnerable people’s exposure to them, the changes don’t go far enough for some.
Critics say that the biggest danger to players is not the sports bet industry, but the poker machines which are found in clubs and casinos all over the country.
Similar to the UK’s recent ruling on fixed odds betting terminal stakes, campaigners want maximum pokie stakes reduced to AU$1 per person.
The recent Household, Income and Labour Dynamics in Australia survey found that spend is significantly higher on poker and pokie machines than on sports or race betting – as is the average loss. If Australia wants to make an impact on its problem gambling rates without harming its valuable betting industry, it might need to address the national love of pokies before targeting sports bets.…
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Source: EEGaming.
Amusnet has announced its participation in the 23rd edition of G2E Las Vegas (Global Gaming Expo) at The Venetian Expo from October 7-10. As one of the largest expos globally, G2E provides a platform for the company to showcase products across its Online Casino, Live Casino, and Land-based verticals, positioning Amusnet as a prominent all-casino provider in the competitive iGaming industry.
“We are excited to attend G2E Las Vegas 2024 to present our latest online casino portfolio and Type S slot cabinets: our first-ever product series for Land-based casinos, designed to offer a competitive edge by combining Amusnet’s top-notch game portfolio with an immersive player experience. Our focus is on delivering solutions that maximize performance and cater to the evolving needs for both online and land-based casinos,” said Borislav Marinov, Head of Business Development, Land-based, at Amusnet.
Alongside its technical excellence, the premium Type S series showcases the company’s award-winning titles, including 20 Golden Coins, Extra Crown, Fruits & Gold, and Cocktail Rush. It also features Amusnet’s popular four-level bonus game, Jackpot Cards, along with other exciting features like Free Spins, Buy Bonus, Pick Me Bonus, and Symbol Upgrade.
Amusnet will host an activation featuring its premium slot cabinets at the upcoming expo, offering attendees the opportunity to experience the thrill of Type S in real time and win exciting gifts.
SoftGamings, the market leader in iGaming solutions and services, announced the arrival of the Tobique Gaming License on the market. The move reflects the company’s commitment to enhancing regulatory compliance and expanding its footprint in the competitive iGaming industry.
Tobique Gaming, managed by the Tobique First Nation in western New Brunswick, Canada, oversees the issuance of online gambling licenses through the Tobique Gaming Commission (TGC) — a regulatory body established under the Tobique Gaming Act of 2023. This initiative is known for its stringent standards and emphasis on responsible gaming. Furthermore, it promotes economic development within the Tobique First Nation community.
The Tobique Gaming license provides operators an entry point into the online gaming and gambling industries. With it, businesses and iGaming operators can conduct operations in various global regions and offer multiple services, from betting to casino games and lottery promotions. The best of all is the streamlined application process, which lasts only 4 to 6 weeks.
SoftGamings is fully prepared to support clients and those interested in obtaining this license. Leveraging its innovative technology and diverse game portfolio, SoftGamings is ready to support clients in navigating the application process and leveraging the benefits of the Tobique Gaming License. The company’s comprehensive services include game development, casino management systems, and payment integrations, making SoftGamings a preferred partner for numerous operators and developers worldwide.
Consequently, helping the clients obtain the Tobique Gaming license and being an entry point represents a significant milestone in SoftGamings’ ongoing efforts to refine its service offerings, maintain the highest standards of gaming integrity, and bolster its regulatory standing. As the company moves forward with this licensing process, it anticipates a positive impact on its operations and continued success in delivering exceptional gaming solutions to its global clientele.
Fast Track, the leading player engagement platform built specifically for the iGaming industry, has partnered with 4Play, a dynamic and innovative gaming operator renowned for its exceptional player experiences in both casino and sports betting.
Launched in 2023, 4Play has rapidly gained recognition in the industry, primarily targeting the burgeoning Brazilian market. With a commitment to delivering unparalleled entertainment, 4Play offers its players a seamless experience in Portuguese, featuring popular gaming verticals such as casino and sports betting.
4Play’s decision to integrate Fast Track CRM comes as part of its strategic initiative to bolster player retention and streamline operations through advanced automation. Fast Track’s robust platform will enable 4Play to automate complex player journeys, ensuring each interaction is personalised and timely.
“We are excited to partner with Fast Track to elevate our player engagement strategies. Their innovative approach to CRM and their commitment to creating individualised player experiences align perfectly with our vision for 4Play. We look forward to leveraging their platform to enhance our player retention and operational efficiency,” Mateus Ihering, Chief Operating Officer of 4Play, said.
Fast Track’s CRM platform, recognised for its real-time data capabilities and comprehensive automation suite, will support 4Play in achieving its business goals. By automating player communications and optimising the registration journey, 4Play aims to significantly increase its number of depositors while maintaining a high level of engagement among its 148,000 monthly active users.
Simon Lidzén, Co-Founder and CEO of Fast Track, said: “We are delighted to welcome 4Play into the Fast Track family. Their innovative spirit and dedication to providing top-tier player experiences make them an ideal partner. Together, we will set new standards in player engagement and retention, ensuring that 4Play continues to thrive in the competitive iGaming landscape.”
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