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A Swell of Support Helps Expand the Online Betting Industry
The sports betting market continues to gain popularity among people of all generations, especially as online betting is gradually becoming more mainstream. To illustrate the importance of this segment, data provided by a Zion Market Research report indicates that sports betting holds about 70% of the global gambling revenue, which is more than any other sectors, including those of lotteries, casinos, and poker, among other forms of gambling. As for which sports are the most popular, various games around the world are common among the sport betters, but European football attracts the greatest betting revenue, and is then closely followed by baseball. Of course, it has to be noted that numerous technological developments have helped propel the market to new highs. The stronger presence of online betting has completely transformed the process of sports betting, making it easier, faster and more convenient to place bets. On the other hand, the strict regulations by various governments are still an obstacle for the online market. Nevertheless, according to the report, the global sports betting market was valued at around USD 104.31 Billion in 2017 and is expected to reach approximately USD 155.49 Billion by 2024 while growing at a healthy CAGR of 8.83% between 2018 to 2024. FansUnite Entertainment Inc. (CSE: FANS), GAN Limited (NASDAQ: GAN), Boyd Gaming Corporation (NYSE: BYD), International Game Technology PLC (NYSE: IGT), Scientific Games Corporation (NASDAQ: SGMS)
Despite legal restrictions, regionally and country wise, in 2018 the market had already produced more than USD 48.9 Billion in worldwide revenue and is projected to expand past USD 134.5 Billion by 2027, according to data provided by Transparency Market Research. After the landmark Supreme Court ruling in 2018, in which the court struck down the ban on sports betting, all states got the option to pursue legalization. The state of New Jersey was the first to make sports betting legal. Other states followed, but California remains a legal battle ground for this gambling segment. However, a change might be possible this November. State Senator Bill Dodd (D-Napa) and Assembly Member Adam Gray (D-Merced) have been working on an amendment to the state’s constitution that will go on the ballot in November, if it can get through both houses. “I think the leagues themselves are really the experts when it comes to keeping integrity of the games,” Assembly Member Gray explained in a report by NBC Sports Bay Area. “Obviously, in our proposal we’ve banned any high school sports betting and as we put the finishing details on this over the next few weeks it’s going to be important that those leagues engage with us on those final details to make sure that we have the highest quality product with the highest quality standards. And although they have been a little timid, I know that many out there in the sports world know that the future of the sports economy could be integrally tied to the success of sports wagering, fantasy sports and other activities.
FansUnite Entertainment Inc. (CSE: FANS) and Askott Entertainment Inc. just announced breaking news that two companies, “have entered into a definitive amalgamation agreement (the “Agreement”) to create one of Canada’s leading online gaming companies, focused on sports betting, esports wagering and casino games. Under the terms of the Agreement, FansUnite will acquire all of the outstanding securities of Askott by way of a three-cornered amalgamation (the “Transaction”) pursuant to which Askott and a newly incorporated subsidiary of FansUnite will amalgamate under the Business Corporations Act (British Columbia) and continue as one corporation.
Combined Company Highlights
Expanded Consumer Base. The combined FansUnite and Askott will have four live business-to-consumer (“B2C”) platforms that have generated over CDN$350 million in wagers since inception and will have over 300,000 registered members;
Expanded Business Base. FansUnite and Askott will have four executed business-to-business (“B2B”) contracts, two of which are currently live and generating revenue with leading esports companies;
Expanded Betting Offerings. Two esports themed casino games which will be released on multiple casino games aggregators platforms this year with more games currently in development;
Increased Gaming Licenses: Applications have been completed for gaming licenses for B2C and B2B;
Established History of Operations: Askott has been in business since 2013, working closely with tier 1 partners around the world; and
Highly Accomplished and Experienced Team: The completion of the Transaction will add a team with decades of experience in esports, sports betting, casino, poker, licensing, government relationships and transactions to develop shareholder value.
According to a recent report by Grandview Research1, the global online gambling market size was valued at USD 53.7 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 11.5% from 2020 to 2027.
‘As the online gambling market continues to grow, the amalgamation with Askott is a significant milestone and transforms us into one of Canada’s premier iGaming companies,’ said Darius Eghdami, CEO of FansUnite Entertainment. ‘Combining with Askott provides us with a fully integrated gaming asset that offers multiple B2C platforms for users in a variety of betting offerings, B2B technology that can be licensed to all types of sportsbooks, and a seasoned team of executives that have led and grown multiple organizations on a global scale. This combination creates a leading online igaming company, and positions us strongly for significant growth with new offerings and market opportunities.’
‘We are recognized globally as a leader and pioneer in esports betting technology,’ said Scott Burton, CEO of Askott Entertainment. ‘As an early entrant in the sector we have already had a number of milestones, including, the launch of the first ever daily fantasy site dedicated to esports, the first esports betting site to receive an Isle of Man license gaming license in 2017 and more recently being shortlisted by EGR Magazine for the Esports Betting Supplier of the Year Award. This year, part of our growth strategy was to round out our offering with traditional sports and casinos to make us a complete iGaming solution. Merging with FansUnite accelerates our growth strategy and will bring us the scale and offerings to make our combined group the leading iGaming entity in the Canadian public markets.’…
GAN Limited (NASDAQ: GAN) is a business-to-business supplier of internet gambling software-as-a-service solutions to the U.S. land-based casino industry. The Company has developed a proprietary internet gambling enterprise software system, GameSTACK Boyd Gaming Corporation (NYSE: BYD) and FanDuel Group recently announced the debut of FanDuel Sportsbooks at four Boyd Gaming properties: Blue Chip Casino Hotel and Spa in Michigan City, Indiana; Diamond Jo Casino in Dubuque, Iowa; Diamond Jo Casino in Northwood, Iowa; and Belterra Casino Resort in Florence, Indiana. “Together, Boyd Gaming and FanDuel Group continue to successfully capitalize on the historic opportunity afforded by the legalization and expansion of sports betting in new states across the country,” said Keith Smith, President and Chief Executive Officer of Boyd Gaming. “The FanDuel Sportsbook is off to a great start in Pennsylvania, contributing to solid growth in visitation and profitability at our Valley Forge Casino Resort near Philadelphia. We are confident our partners at FanDuel will deliver excellent results in Iowa and Indiana as well, further expanding Boyd Gaming’s customer base and enhancing our long-term competitive appeal.”
International Game Technology PLC (NYSE: IGT) announced earlier this month that its PlaySports platform will power retail and mobile sports betting at Wild Card Saloon and Sasquatch Casino in Black Hawk, Colo. Owned and operated by privately held gaming company, Ed & Shirley’s Inc., both casinos will leverage IGT PlaySports kiosks, platform and mobile technologies to give their patrons choice and convenience for how, when and where they place sports bets. “Offering omni-channel sports betting via the IGT PlaySports solution will introduce an exciting new dimension of gaming to Wild Card Saloon and Sasquatch Casino that sports fans throughout Colorado are ready to embrace,” said Ed Smith, Ed & Shirley’s Inc. President.
“We’ve leveraged IGT’s expertise and trusted technology to create a sports betting program that gives players choice and convenience for wagering on their favorite teams.”
Scientific Games Corporation (NASDAQ: SGMS) announced earlier in March that it had partnered with Vaix.ai to offer sports bettors personalized recommendations and tailored betting choices through the OpenMarket product suite. Vaix.ai will offer an Artificial Intelligence (AI) model through OpenSports that enhances the sports betting experience. By providing sports, league, team, event, and market recommendations to bettors in real-time, the companies aim to further personalize sports betting through Scientific Games’ OpenMarket solution. OpenMarket is the industry’s first one-stop content marketplace, giving Scientific Games’ partners access to top-tier sports betting intelligence, data feeds and tools without the need for complex integrations and financial agreements. About FinancialBuzz.com
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.
Atlaslive, a dynamic iGaming platform, will attend the Mare Balticum Gaming Tech Summit in Tallinn on June 4-5. CMO Bogdana Yavorskaya, CPO Lasha Kupatadze, and COO Lidiia Vakulenko will represent the Atlaslive company at the event.
Lasha Kupatadze will participate in a dynamic panel discussion on “Future-Proofing Digital Engagement: Mastering Gamification, Mobile Innovation, and Regulatory Compliance in the AI Era.” He will provide expert guidance in gamification strategies that help improve player loyalty and the best times for businesses to adopt mobile technology. The company’s experts will provide practical advice on how to use these digital tools to meet new regulations and boost customer engagement, keeping Atlaslive ahead in innovation.
Lasha Kupatadze said, “At the Summit we will explore the biggest challenges and find robust solutions that will not only ensure compliance but also build lasting customer loyalty and operational resilience in the face of tech advancements. I will share my experience and insights during the panel discussion and will tell you about the role of game-like elements which can be effectively integrated, adding layers of rewards, challenges, and competition that really work and can boost user engagement and motivation.”
Atlaslive’s CMO Bogdana Yavorskaya and CPO Lasha Kupatadze will also participate as keynote speakers with their presentation at the summit. Their topic for discussion will be “Navigating the Nordic iGaming Landscape: Insights into Market Dynamics, Trends, and Sports Betting Evolution,” to share fresh analytics and real-life experiences. Their presentation will provide applicable insights into iGaming to meet the changing needs of today’s customers. The presentation will highlight the key trends and what’s really needed for these markets to grow today. They will offer practical solutions and insights into sports betting to meet the changing needs of today’s customers.
Bogdana Yavorskaya, CMO of Atlaslive, talks about the key advantages of their platform, especially its customizable Sportsbook component. “Atlaslive has an in-house developed Sportsbook that is fully automated and can be easily & quickly integrated. You can adjust your product to fit any market with our ready-to-use kits and presets. Analyzing current trends where players want more personalized and interactive gaming experiences, this offers for any iGaming business opportunity to boost operations worldwide with a platform that adapts well to different laws and equipment needs,” she explains.
There will also be an awards ceremony at the event where Atlaslive is nominated in four key categories. We will be happy to connect with the best from the industry and celebrate the achievements and innovations in the igaming and technology sectors.
Join us in Tallinn to communicate with our team members from Atlaslive. Receive more information about Altaslive on the website and LinkedIn.
Atlaslive, the tech behind the game.
The post Atlaslive at Mare Balticum Gaming Tech Summit in Tallinn appeared first on European Gaming Industry News.
Get ready to dive into a world of fun with Toy Box – the exciting new slot game from Boldplay, where colourful clusters and tumbling toys can lead to a prize bonanza!
Featuring a unique 4×5 reel layout where any five adjacent matching toys trigger an instant win, Toy Box introduces players to a lively cast of toys who, when grouped together, unlock some of the game’s most lucrative rewards. With the popular cascading wins feature, players’ initial prizes will be stored away as winning toys vanish, making room for new ones to tumble down and potentially enhance the overall win.
The fun doesn’t stop there – multiple cascades can occur during each round, with the excitement only ceasing when no new wins are formed. Plus, to assist players in uncovering a treasure trove of prizes, the Toy Box logo acts as a wild, capable of substituting for any regular toy to complete potential clusters. Additionally, at the start of every spin, one reel space can be highlighted at random; land a wild in this spot, and adjacent toys may also transform into wilds, boosting your chances of a big win!
Speaking of the new title, Head of Design, Marcus Taylor said: ” With Toy Box, we wanted to create a slot game that’s just bursting with fun and excitement. With colourful clusters, tumbling toys, and unique features designed to give players an engaging and rewarding experience, we’re confident it will be a smash hit with both players and operators alike.”
The post UNBOX THE FUN AND UNLOCK THE WINS IN TOY BOX BY BOLDPLAY appeared first on European Gaming Industry News.
In response to the worst flood in Brazil’s history, SOFTSWISS, a global tech provider of innovative iGaming solutions, has launched a multi-phase charity project. The campaign aims to not only provide immediate aid to those affected and long-term support in restoring the region but also invite industry players to join the initiative.
At the end of April, the Brazilian state of Rio Grande do Sul faced a severe flood. Many urban areas are still submerged, with specialists saying the water is not expected to recede soon. The humanitarian situation worsens daily as the weather deteriorates, and food, water, and warm clothing shortages become more acute. The state and the public, including companies and individuals, are doing their best to help.
SOFTSWISS has initiated the campaign to involve the iGaming community to support the region.
“Recognising Brazil as a key market, SOFTSWISS has dedicated significant efforts to establish a strong presence here. Our goal is to be a reliable partner to the Brazilian people and help the local industry grow. We now have employees in the region, and in light of the country’s recent hardships, standing aside is not an option. We are committed to supporting the people of Brazil during this difficult time,” said Ivan Montik, Founder of SOFTSWISS. “We are providing emergency financial assistance, partnering with organisations that can swiftly deliver food, clothing, and water to those impacted by the flood. Additionally, we are developing a long-term initiative to install water purification equipment in schools in the affected regions.”
Providing Direct Assistance
Recognising the severity of the situation, SOFTSWISS has allocated funds to deliver essential supplies such as food and gas to those in need. This immediate assistance is being facilitated through Movimento União BR, a local charity organisation.
Beyond immediate help, SOFTSWISS is committed to supporting Brazil’s long-term recovery. The company has pledged additional resources to PWTECH for the installation of water purification equipment in schools across the affected regions of the state of Rio Grande do Sul. This will provide a sustainable solution to ensure access to clean drinking water not just during this crisis, but for future generations.
Engaging the iGaming Community
SOFTSWISS is calling upon the global iGaming community to join its relief efforts initiative. In addition to the financial contribution, the company provides crucial informational support. SOFTSWISS, in conjunction with its Non-Executive Director in Latin America, Rubens Barrichello, has chosen a trusted Brazilian charity partner to help those who suffered in the flood:
- Movimento União BR – a volunteer movement that acts as a bridge between those who want to help and those who need help. Started in 2020 to fight against the effects of the coronavirus pandemic in Brazil, it has supported more than 26 million people and 4 thousand NGOs.
In addition, anyone can contribute to help flood victims through an official channel activated by the government of Rio Grande do Sul.
SOFTSWISS guarantees that donations effectively reach people in need.
Rubens Barrichello, SOFTSWISS Non-Executive Director in Latin America: “I am very glad the SOFTSWISS team I joined is committed to supporting Brazilians in this difficult situation. Having launched many charity initiatives with the Barrichello Family Institute, I am grateful that, together with SOFTSWISS, we also have the opportunity to help those who need our support now.”
By supporting these verified charities alongside SOFTSWISS’ financial and informational aid, the iGaming community can make sure their contributions directly help those affected by the Brazilian flood.
Brazil needs iGaming community action!
About SOFTSWISS
SOFTSWISS is an international tech company supplying software solutions for managing iGaming projects. The expert team, which counts over 2,000 employees, is based in Malta, Poland and Georgia. SOFTSWISS holds a number of gaming licences and provides one-stop-shop iGaming software solutions. The company has a vast product portfolio, including the Online Casino Platform, the Game Aggregator with thousands of casino games, the Affilka affiliate platform, the Sportsbook Software and the Jackpot Aggregator. In 2013, SOFTSWISS was the first in the world to introduce a Bitcoin-optimised online casino solution.
The post SOFTSWISS Unites iGaming Community to Aid Brazil Floods appeared first on European Gaming Industry News.
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