iGaming Industry
BACTA: FOBT clampdown impact “exaggerated”
The British Amusement Catering Trade Association or BACTA, the body representing the UK’s amusement industry, suggested that the influence of the proposed cuts to stakes on Fixed Odds Betting Terminals (FOBTs) has been “exaggerated”.
Citing its self-assigned research, run by the Centre for Economics and Business Research (CEBR), BACTA clings to the belief that the industry losses from deterioration in stake to £2 could be up to 47% lower than those proposed by the Government’s initial impact assessment.
The report further states that the decline in gross gambling yield to high street betting shops is estimated to be £335m, rather than £639m which is the Government’s estimated reduction.
CEBR’s further research suggests that this £335m figure could be offset by the coincident reduction in the estimated £210m spent on handling problem gambling directly arising from FOBTs in the UK.
Organisations from the Church of England to 93 local authorities across the UK and the Royal Society for Public Health have demanded the Government to order a reduction on FOBT stakes to £2.
BACTA’s research goes on to suggest that there would in fact be an overall benefit to the economy should FOBT stakes be reduced to £2, to a net increase of £45m to gross value added.
Announcing the research findings, John White, the CEO of BACTA, said: “This research puts into clear perspective the true impact of a £2 stake on FOBTs on our economy and should provide comfort to bookmakers that doing the right thing and reducing the maximum stake on FOBTs to £2 will still leave them with plenty of profit to invest in their businesses.”
“While there will be some cost to bookmakers from lower FOBT stakes, it is a necessary one to protect consumers from the everyday risk of gambling harm on the high street. “
“The £100 stake on FOBTs is a dangerous anomaly in gambling regulation that Government has rightly chosen to address. We urge a reduction to a £2 stake. That brings these machines in to line with the rest of the market, and puts the needs of player protection first.”
Oliver Hogan, the Director and Chief Economist at CEBR added: “In undertaking its independent assessment, CEBR has sought to monetise a wider range of potential impacts of a policy of maximum stake reduction on B2 machines. It goes beyond the revenue losses that might be imposed on the current operators of B2 machines (mainly the Licensed Betting Operators).”
“We demonstrate that, under different assumptions that better reflect the profile, circumstances and likely behaviours of B2 players, the policy would be not nearly as detrimental to the LBOs as has been portrayed.”
“In fact, there could even be a net boost to the economy and to employment if there is attrition from gambling and if the fall in demand for B2 leads to higher demand for more labour-intensive forms of gambling. Once the potential wider benefits to society that could be realised if a B2 stake reduction leads to a declining prevalence or severity of problem gambling, the case for the policy is even more favourable.”
Source: European Gaming Portal
eCOGRA, a leading international authority in Testing, Inspection and Certification services for the iGaming industry, has secured new regulatory approvals across three key jurisdictions: Arizona, Indiana and Panama. With these developments, eCOGRA strengthens its position in the U.S. and Latin American markets, offering excellence in compliance through their Quality, Speed, and Service promise.
This strategic expansion allows eCOGRA to conduct independent compliance audits and certification services in each region, addressing the growing demand for rigorous regulatory oversight in the fast-evolving global iGaming industry.
Securing approval in Arizona, where eCOGRA has now been licensed as an Event Wagering Ancillary Supplier, enables the International Testing Laboratory (ITL) to audit event wagering licensees in line with Arizona’s expanding regulatory landscape. Indiana, which introduced online sports betting in September 2019, has authorised eCOGRA to perform regulatory compliance audits, providing licensed operators with crucial assurance in meeting the state’s high standards.
In Panama, the Board of Gaming Control officially recognised eCOGRA as an Authorised Entity for Compliance Certification, specifically for slot machines and gaming software. This endorsement reinforces eCOGRA’s role as a trusted partner for operators seeking to meet stringent regulatory requirements in Latin America’s emerging iGaming sector.
“Our recent approvals in Indiana, Arizona, and Panama underline our dedication to continually expand our offering, to support our growing portfolio of clients with their global growth plans. We are committed to ensuring that we bring the same quality, speed and service that marks us out to both our clients and regulators in these dynamic markets,” said Will Shuckburgh, Group CEO of eCOGRA.
Bradley Khoury, Chief Technology Officer at eCOGRA, said: “Securing licensure as an Event Wagering Ancillary Supplier in Arizona and an Authorised Entity in Panama underscores our dedication to supporting responsible and sustainable iGaming operations. We are committed to driving trust and accountability within the industry by providing compliance solutions that uphold the highest standards.”
BetConstruct, a global leader in the iGaming industry, is going to showcase its cutting-edge solutions at the highly anticipated Global Gaming Expo (G2E), taking place from October 7-10.
As the premier event for the global gaming industry, G2E serves as a hub for innovation, driving growth by bringing together industry professionals from around the world to foster business opportunities.
Taking place at The Venetian Expo in Las Vegas, this all-in-one event features both an education program from October 7-10 and an expansive expo hall running from October 8-10.
BetConstruct’s stand is 5230, where the team will showcase an exciting range of products, including the newly launched the Last Battle, a novel loyalty system that is the byproduct of BetConstruct’s commitment to innovation. The company will also demonstrate its comprehensive Sportsbook and Casino Suite, along with DECA, its next-level decentralised casino platform, and Umbrella, an AI-powered risk management solution. These offerings are designed to meet the needs of a diverse range of operators, ensuring seamless and engaging experiences for players across the regulated market.
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.
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