Press Releases
Videoslots expresses concerns over proposed Government measures
Videoslots.com, one of Sweden’s leading online casinos, has warned that a one-size-fits-all attempt to protect the country’s players during the Covid-19 pandemic could drive them into the arms of unscrupulous black-market operators.
Lawmakers will this week debate the introduction of forced limits on gambling deposits, as well as restricting bonus offers to SEK100 for customers who will also have to set mandatory time limits on the amount of time they play.
The new rules, which will be discussed on May 7th, would be in addition to Europe’s strictest gambling regulations. These include a limit on bonuses to first-time customers, interaction with players setting a deposit limit over 10,000 SEK, and ensuring they are not registered with the national Spelpaus self-exclusion program.
According to Ewout Wierda, General Counsel at Videoslots and a former regulator in the Netherlands, the proposed changes would make licensed operators uncompetitive in comparison to illegal operators, who can offer tempting bonuses and limit-free play.
Contrary to the Government’s stated 90% aim, the changes will decrease rather than increase so-called channelization, or the total share of online gambling that takes place on sites regulated by the Swedish license system as opposed to those operated illegally in defiance of it.
A Copenhagen Economics report commissioned by the Swedish Trade Association for Online Gambling, which includes Videoslots and other tier one operators within Sweden, has found that the online casino industry is already ‘exposed to fierce competition from unlicensed providers.’
The report showed that 40% of players within the market have gambled on unlicensed casino sites (25%), or would consider doing so (15%), with 58% of those players admitting that forced restrictions on bonus schemes are a reason why they choose to avoid regulated online casinos.
Ewout Wierda said: “Videoslots agrees with the licensing objectives and has invested a significant amount of time and money in sophisticated systems to keep a risk-based focus on customers who need protection. Player protection is our number one priority.
“We are therefore increasingly worried about the continued decline in the number of Swedish players choosing to place bets with fully licensed operators. We fear that online casino channelization in the country will soon drop below 70%.
“The changes proposed by the Government will take even more players away from the protection of the licensing system. Our player protection can help society cope with the current virus-related risks, but not if those players who need protection most choose black-market operators.
“Enforcement against black-market operators is needed but is not an alternative for the attractiveness of licensed operators. If the Government really wants to increase protection in online casinos, it needs to act quickly and sensibly. We urge them not to hamper us further by introducing counter-productive laws which will have unintended consequences.”
Social Security Minister Ardalan Shekarabi however has said he is serious about these measures and determined to implement them. In Wierda’s view, this will be a violation of EU law.
He added: “Measures must be taken in a transparent way and must be shown to be a good and consistent solution for a real problem. A discussion about proposals that have already been decided upon is not transparent. The government has no evidence of the need for measures or their effect. Licensed operators on the other hand can show there is no new risk. Forced fixed limits have proven to be ineffective by academic experts, and they are inconsistent with systems focusing on customers who are most at risk.”
Get ready to shuffle up and deal because Stretch Network is bringing the heat this summer with the awaited Total KO Series (TKO) Tournament for Stretch’s Global Network with €333,000 prize pool! Running from July 10 to July 28, 2024, this series promises to thrill both seasoned pros and newcomers alike.
Key Events To Know:
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Stay tuned for more updates and get ready to stack your chips high at the TKO Series!
The post Stretch Network Announces the Total KO Series with €333,000 Prize Pool appeared first on European Gaming Industry News.
LeoVegas Group’s newly launched international sportsbook brand BetMGM has entered into a new three-year partnership with Tottenham Hotspur Football Club, branding the Premier League club’s training wear. The partnership, LeoVegas Group’s third Premier League partnership deal in just a week, will significantly boost the Group’s visibility and showcase its hero sportsbook brand BetMGM to millions of football fans across the world.
LeoVegas Group and Premier League club Tottenham Hotspur F.C. have today announced their new 3-year partnership deal that will see the Group’s newly launched sportsbook brands BetMGM become the men’s and women’s club’s Official Betting Partner, as well as the Official Front of Training Wear Partner of Tottenham Hotspur Football Club. As Official Partner, BetMGM will prominently feature on media backdrops and the men’s training kit during Premier League, domestic cup, and European fixtures. Additionally, the brand will be regularly highlighted on pitch-side LEDs at Tottenham Hotspur Stadium, the largest club stadium in London, on stadium big screens, and on IPTV.
The partnership will enable increased awareness and reach of the Group’s sportsbook brand BetMGM, which was recently launched in the UK and the Netherlands. Customers and fans can expect to be included in exciting partnership events, including unique experiences for fans and giveaways.
Sam Behar, UK Director BetMGM, said “We are very proud to launch this partnership with Spurs as their progressive spirit fully aligns with BetMGM’s ambitions. This is our third Premier League deal in just a week, and we look forward to kicking off this exciting season as we continue to grow BetMGM’s presence in the world of sports.”
Ryan Norys, Chief Revenue Officer at Tottenham Hotspur, said “We are delighted to announce this partnership with BetMGM. The Club and BetMGM’s values align exceptionally well through a competitive spirit, whilst also continuing to strive for greatness.
“BetMGM has demonstrated it is putting its customers first by continuously developing its product offering to fans. Throughout this partnership, we are looking to help BetMGM further establish itself in the UK market, as well as enhancing customers’ knowledge around responsible gambling.”
The new Premier League club deal marks LeoVegas Group’s third in a week, underscoring a significant milestone in the strategy to amplify its focus on sports. Over recent years, the Group has entered into several strategic partnerships, most recently with Wolverhampton Wanderers F.C. and Newcastle United F.C.
The post BetMGM announces partnership with Tottenham Hotspur appeared first on European Gaming Industry News.
The new jerseys will, for the first time, display two stars, marking Inter’s 20th Scudetto victory. The strategic alliance unites two prominent names in their respective fields, each boasting a rich heritage. This four-year agreement represents the largest shirt sponsorship deal in the club’s history.
The partnership signifies the largest shirt deal ever for both Betsson and the Serie A champions and last year’s Champions League finalists FC Internazionale Milano. Alongside the prominent display of Betsson.sport on the team jerseys, both parties share a mutual goal of enhancing the overall fan experience. With Betsson’s extensive reach and innovative approach, the goal is also to strengthen and connect with supporters worldwide.
“This sponsorship is the biggest to date for Betsson,” stated Jesper Svensson, CEO of Betsson Operations. “It allows us to connect with passionate football fans in Italy and around the world. Our aim is to be more than just a sponsor – we want to be a partner that brings excitement and value to the club and its supporters. This deal reinforces our strategic growth in key markets and underscores our commitment to positioning Betsson as a leading global sports brand within the industry.”
“We are delighted to welcome Betsson into the Nerazzurri family as the Official Main Partner and to have signed this historic agreement that will see the Betsson Sport logo placed on the front of our new kits. This new collaboration will help us reach new heights in fan engagement and with our partner’s extensive reach and innovative approach, we are poised to expand our international fanbase and enhance the overall experience for supporters in Italy and worldwide” commented Alessandro Antonello, FC Internazionale Milano Corporate CEO.
Betsson Group’s sponsorship portfolio extends globally, with a strong presence in various sports and football clubs. In Latin America – Betsson is the main sponsor of Boca Juniors, Racing Club de Avellaneda and Atlético Nacional. In Italy, the infotainment brand Betsson Sport has partnerships with clubs such as SSC Napoli, Torino FC and Francesco Totti as ambassador.
The post BETSSON SPORT BECOMES THE NEW FRONT JERSEY PARTNER OF INTER appeared first on European Gaming Industry News.
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