Paddy Power Betfair steals a US march

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Tags: Fantasy Sports Online Gambling Paddy Power Betfair steals a US march Email Address The news that Paddy Power Betfair is buying a majority stake in FanDuel has gone a long way to silencing its critics, says Scott LongleyUntil the news broke that Paddy Power Betfair had gotten a headstart in the race to establish a sizeable US footprint by buying up a majority stake in FanDuel, some were beginning to question the point of the company.It may seem unnecessarily doom-laden given the events following the SCOTUS decision to nix PASPA, but such were the worries after the company announced at the time of its first quarter trading update that it was embarking on a £500m share buyback.The news seemed to crystallise the fears being expressed about the net effect of the spate of mega-mergers. What if size wasn’t everything? Paddy Power Betfair’s buyback seemed to indicate that for all its hard-won enormity, the company was somehow lacking a creative spark.To some, there is no surer sign a large company has somewhat lost its way than a share buyback programme. It can be sold as a positive for shareholders – some will opt to get cash for their shares while those left see the benefit of less shares on the market and will have a larger stake in future dividends.Yet the argument that shareholders know better what to do with the spare cash being generated by any company – PPB had £330m of cash on the balance sheet as of the end of March – is, for all the blandishments, something of an admittance of defeat.In the words of Paul Leyland, analyst at gambling consultancy Regulus Partners, the company appeared to have lost its “mojo”. Accusing the company and new-ish chief executive Peter Jackson – who took over from Breon Corcoran in January – of playing too defensively, he suggested then that “handing the strategic keys back to shareholders” via the buyback was “playing it safe”. He added that a company of Paddy Power Betfair’s “power and scale should be making more mischief than this”.I’m Breon and so’s my wife Yet Jackson would have known better at the time. Although it is very early days when it comes to the nascent regulated US sports betting market, Paddy Power Betfair has by virtue of this move immediately established itself as far and away the largest company active in the market, with pro forma US revenues (including PPB’s existing TVG and Draft businesses) of $265m.More to the point, Paddy Power Betfair now has access to FanDuel’s 1.3 million actives (as of 2017), who play daily fantasy sports (DFS) legally in 40 states. For those who believed that fantasy was dead and buried – including perhaps even the private equity owners of FanDuel, who managed to elbow out founders Nigel and Lesley Eccles last year and now retain at least a 20% stake for the next five years – it is a welcome second coming.Whichever way you look at it, the SCOTUS PASPA decision revives daily fantasy and particularly the fortunes of FanDuel itself and its major rival DraftKings, which similarly rode the wave of post-decision enthusiasm with the announcement of its own plans to enter into the sports betting markets.DFS may be seen by many – particularly the European-based sports betting industry – as only a gateway to the real thing. But for the time being it is, as they say, the only game in town in many states and it will take time for the politicians and various stakeholders to get their sports betting legislative ducks in a row.The FanDuel deal is an early play for US dominance but it also marks another stage of development in the super-heated European gaming M&A furnace. The speed of the deal announcement and the strategic sense of it all will perhaps have had the effect of slightly bruising the egos of those helming the other big beasts in the sector.Hence, perhaps, the almost Trumpian claims of the current M&A king Kenny Alexander, who used GVC’s recent trading statement to suggest that the company had been holding “many, many” talks about US partnerships, adding that “whatever we announce, it’s going to be big, it’s going to be bold, it’s going to be aggressive”.Given the excitement within the sector generated by the Supreme Court’s opinion on PASPA, the likelihood is that more big and bold announcements will be made even before a post-PASPA bet is struck in New Jersey or anywhere else.Related articles: Paddy Power Betfair buys FanDuel for US wagering push Paddy Power Betfair reveals revenue, profit drop in Q1 A new dawn for sports betting in the US (paywall) Topics: Finance Sports betting DFS DFS Regions: US 1st June 2018 | By Joanne Christie The news that Paddy Power Betfair is buying a majority stake in FanDuel has gone a long way to silencing its critics, says Scott Longleylast_img read more

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Poland’s Totalizator Sportowy launches online casino

first_img Email Address Poland’s Totalizator Sportowy launches online casino State-owned Totalizator Sportowy has debuted its Playtech-powered platform TotalCasino.pl 6th December 2018 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: Europe Central and Eastern Europe Polandcenter_img Casino & games Poland’s only legal online casino and lottery sites are now live after Totalizator Sportowy launched TotalCasino.pl and iLotto.pl.The website and mobile apps debuted on Wednesday (December 5) and offer slots, table games and lottery products. TotalCasino is powered by Playtech’s online casino platform, featuring a range of games from the supplier’s portfolio, while lottery products are supplied by International Game Technology (IGT).Under the terms of the country’s 2016 gambling market re-regulation, state-owned Totalizator Sportowy is the only company that can offer online casino and promotional lotteries in Poland. Totalizator Sportowy said the launch of the site had been the biggest challenge in its 60-year history, and it would monitor its impact on the Polish gambling sector.“This big step towards meeting the needs of customers means the digitisation and implementation of innovative and modern tools for online sales of products, as well as increasing Totalizator Sportowy’s revenues, and thus also increased funds transferred to the development of sport and culture,” said Olgierd Cieślik, Totalizator Sportowy’s president.“Remember that this is the beginning of a very important process of further development of our services. By implementing it, we will listen carefully to the opinions of our players.”Totalizator Sportowy, which was founded in 1956 and funds sports development in Poland, is also the only company that can operate slot parlours in the country under the terms of the 2016 Gambling Law, which was implemented from last April. Adding new products to its portfolio, the company saw a 21% year-on-year rise in net revenue from sales to PLN5.6bn (€1.5bn/$1.5bn) in 2017.There are now 14 operators with online sports betting licences in Poland after Totalizator Sportowy’s racing division Traf Zakłady Wzajemne obtained a permit earlier this week. Other licensees include Cherry, Fortuna and Betclic Everest.The regulated online market has grown significantly in the past year, with the Ministry of Finance reporting that it has helped total revenue for the sector expand by 22% year-on-year to €2.7bn in 2017. The government also noted that the licensed online operators’ market share had had risen to 40% by December 31, 2017. Topics: Casino & games Tech & innovation Subscribe to the iGaming newsletterlast_img read more

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Betway sets sponsorship record with West Ham renewal

first_img Online gambling operator Betway has extended its sponsorship deal with English Premier League football club West Ham United, in an agreement that represents a record partnership for both parties.The deal will run for six years, with Betway to retain its role as principal partner of West Ham.Betway, which has been working with the club since 2015, will also continue to benefit from branding placement on the front of players’ jerseys, as well as on all adult replica shirts.In addition, Betway and West Ham will work together on a series of fan-focused initiatives, building on the success of other projects such as the Betway Academy, Betway Fan Taxi and West Ham Supermarket Sweep.“West Ham are a club with one of the most passionate fan bases in the game, who we have built up a strong relationship with by giving them some unforgettable experiences and memories,” Betway CEO, Anthony Werkman, said. “This is something we are wholly committed to and we are delighted to be continuing our partnership with the club.”West Ham vice-chairman, Karen Brady, added: “After working together successfully for four years, this is a new, long-term, record-breaking commercial deal for the club, which shows the faith that Betway has in West Ham United and our iconic global identity which has seen us recognised as one of the world’s biggest football brands.“We look forward to continuing to work with Betway as we embark on the next chapter for our great club, and we will use this partnership as a platform for success, both on and off the pitch.” Marketing & affiliates 24th May 2019 | By contenteditor Regions: UK & Ireland Email Address Tags: Online Gambling Topics: Marketing & affiliates Sports betting Online gambling operator Betway has extended its sponsorship deal with English Premier League football club West Ham United, in an agreement that represents a record partnership for both parties. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Betway sets sponsorship record with West Ham renewallast_img read more

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Inspired lands igaming content deal with Loto-Québec

first_img Tags: Online Gambling Video Gaming Casino & games Topics: Casino & games Sports betting Tech & innovation Video gaming Inspired Entertainment has agreed a deal to provide on-demand virtual sports and online casino content to Canadian provincial lottery operator Loto-Québec. Subscribe to the iGaming newsletter 30th July 2019 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Address Inspired lands igaming content deal with Loto-Québec Inspired Entertainment has agreed a deal to provide on-demand virtual sports and online casino content to Canadian provincial lottery operator Loto-Québec.Under the agreement, Loto-Québec will now gain access to Inspired’s portfolio of interactive slots, table games and virtual sports on-demand content. Games will be added to the operator’s LotoQuebec.com online gambling platform.Titles to be launched via the deal include Maximus Soldier of Rome, Book of the Irish and 1st Down Slots, the latter of which is the first slot title to feature football virtual clips.Inspired content will be enabled for players in Quebec in the third quarter of 2019, after which Loto-Québec will deploy the Inspired Virtual Plug N Play end-to-end online scheduled virtual sports solutionInspired’s Plug N Play is a white label product and will be branded to run in line with Loto-Québec’s own operations.Read the full story on iGB North America.Image: Quentin Theuret Regions: Canada Quebeclast_img read more

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Montana Lottery approves sports betting rules

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter 25th November 2019 | By Daniel O’Boyle Lottery Topics: Lottery Sports betting Regions: US Montana Montana Lottery approves sports betting rules Email Address The Montana Lottery Commission has approved rules for its new sports wagering product in the state, which will be named Sports Bet Montana.The rules will now be published in the Montana Administrative Register, which is published twice per month. The register contains all of the state’s administrative regulations as well as the state attorney general’s opinions and interpretations of those regulations.The new regulations would allow for anonymous retail sports betting. However, all mobile bettors must sign up for an account, while retail players will still have to verify their identity before they can bet.The regulations also provide for a voluntary self-exclusion program, as well as the option to set personal deposit, spending and time limits. Players must be aged 18 or above to place a bet. Under the regulations, any accounts which do not place a bet for 18 months must be closed.Read more on iGB North America.last_img read more

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Bulgarian Sports Totalisator handed lottery monopoly

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Legal & compliance Lottery Social responsibility CSR Subscribe to the iGaming newsletter Bulgarian Sports Totalisator handed lottery monopoly The state-owned Bulgarian Sports Totalisator (BST) has been granted a monopoly over lottery products in the country, after a bill filed in January this year passed into law. Email Address The state-owned Bulgarian Sports Totalisator (BST) has been granted a monopoly over lottery products in the country, after a bill filed in January this year passed into law.This amendment to the 2012 Gambling Act was put forward by Valeri Simenov, a member of the National Front for Salvation Party, in January, and was ratified by the Bulgarian parliament on 7 February, then published in the country’s Official Gazette this week.This means that all private lottery operators will now have to pull their products from the market within three months, and must destroy all unsold lottery tickets and coupons by 31 December, 2020.These operators must also ensure that all prizes owed to players are paid out, or provide bank guarantees to that effect, within 30 days.They will, however, still be able to offer other draw-based games such as raffles, keno and bingo.BST tickets will also only be available from licensed outlets, which must be at least 300 metres away from schools, as set out in the bill. Regions: Europe Central and Eastern Europe Bulgaria 21st February 2020 | By contenteditor Tags: Charitable Gaming CSRlast_img read more

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Norway regulator eases online bingo revenue requirements

first_img Norway’s gambling regulator Lotteri-og stiftelsestilsynet (Lotteritilsynet) has eased requirements for operators looking to offer online bingo by extending the period for meeting a minimum revenue threshold for internet-based games. 14th July 2020 | By Daniel O’Boyle Norway regulator eases online bingo revenue requirements AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Bingo Subscribe to the iGaming newslettercenter_img Regions: Europe Nordics Norway Norway’s gambling regulator Lotteri-og stiftelsestilsynet (Lotteritilsynet) has eased requirements for operators looking to offer online bingo by extending the period for meeting a minimum revenue threshold for internet-based games.Under normal conditions, a bingo operator may only offer online bingo if its revenue exceeds NOK2m (£170,000/€186,000/$212,000) over a 12-month period.However, with the novel coronavirus (Covid-19) pandemic shutting bingo halls, Lotteritilsynet said operators may have their revenue assessed over 15 months, provided they file a request with the regulator.“The opportunity to apply for an extension of the period [has been introduced] as a result of the outbreak of the pandemic, which led to several bingo halls being forced to close, and thus lose revenue, for around two months,” Lotteritilsynet explained.New bingo halls, which may offer online bingo in a trial period in their first year, also had this period extended by three months.Lotteritilsynet noted that in the country’s bingo regulations, it was granted the authority to “dispense with the provisions of these regulations”.In mid-March, when the pandemic first hit Norway, Lotteritilsynet allowed bingo halls to operate in an online-only capacity, suspending regulations that require a physical draw to take place alongside the online compontent.This was originally due to be in force until 29 March, but on that date an extension to 13 April was announced, alongside a set of updated marketing rules. A further extension was granted in April until 11 May. Topics: Casino & games Legal & compliance Bingo Email Addresslast_img read more

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BHA appoints Harrington as new chief executive

first_img Regions: UK & Ireland Horse racing Tags: Race Track and Racino The British Horseracing Association (BHA) has appointed Julie Harrington, the former head of British Cycling, as its new chief executive. Subscribe to the iGaming newsletter Topics: People Sports betting Strategy Horse racing BHA appoints Harrington as new chief executive 11th August 2020 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter The British Horseracing Association (BHA) has appointed Julie Harrington, the former head of British Cycling, as its new chief executive.Harrington will take on her new role with the organisation on 4 January 2021, with current chief executive Nick Rust to continue leading the BHA until then,A former member of the BHA Board, Harrington spent four years as the chief executive of British Cycling, while she also had an eight-year spell as a senior executive at Northern Racing.Harrington’s other major roles have included operations director for the English Football Association, as well as regional marketing director at Whitbread Inns and retail sector director for British Airways.“I’m so excited to be coming home to racing and playing my part helping this great sport to achieve a prosperity from which everyone benefits,” Harrington said.“I know how important collaboration across racing has been over the past few months and I look forward to working with colleagues from all parts of the sport. The BHA and its team of dedicated officials do a great job in keeping racing safe, clean and fair.”BHA chair Annamarie Phelps paid tribute to outgoing CEO Rust, who announced his departure in January this year. Phelps said Rust and his team would continue to work to help racing through the next phase of the novel coronavirus (Covid-19) until Harrington takes charge.“There’ll be no let-up over the coming months and the sport will see a seamless transition to our new CEO,” Phelps said.“I want to thank all those at the BHA and the industry bodies who are working so hard and I’m confident that racing will continue to lead the way towards a full resumption of sport.”Image: BHA Email Addresslast_img read more

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The data-driven future of bonusing

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter In an era in which operators are prioritising social responsibility, the notion of players being lured in by free spins and free bets seems an anachronistic reminder of what some might consider the bad old days. In the webinar, Falk will illustrate how Solitics’ partners have been positively impacted by the utilisation of all their data in real-time across their marketing strategies, including bonusing. 20th September 2020 | By Josephine Watson In conversation with iGB, Harel Falk, VP of sales & business development at Solitics, discusses what may be on the cards for igaming’s best-known marketing tool… Subscribe to the iGaming newsletter Those who have worked with the Israel-based data management and marketing automation platform that enables B2C brands to personalise customer experiences have seen an “incredible” uplift across the board, from rate of conversion to revenue, according to Falk. The utilisation of rich data can address these social concerns, as well as improve the effectiveness of bonusing. Data can, of course, be used to deter people from gambling should they be identified as a risk, just as it can be used to inform a player of a new game they may enjoy. “However, it has become such a widely used & common practice that it’s gone stale. Bonuses are, in general, poorly targeted and a viewed as a cheap tool when talking strategy.” “The effectiveness of bonuses has been reduced,” Falk says. “Bonuses have been around for a long time, and initially they were a great way to attract new players. They were used to introduce players to products as well as offering them an incentive to play and stay. The data-driven future of bonusing A high-reward approach “We believe in this industry, and we want to create solutions that help operators overcome the technological challenges they face through our tools, technology and education,” he says. “We want to give them a cutting edge and benefit from our real-time, data-driven approach. Operators must reimagine bonuses as a core feature of long-term customer journeys rather than just use them as a short-term fix if they are to reap rewards in the increasingly data-driven world of online gaming. So, what can operators do in a practical sense to start re-strategising their use of bonuses? Falk suggests that operators need to be rewarding more and bonusing less.center_img To hear more from Solitics and our expert panel, register to join our upcoming iGB webinar, “Bonuses: A New Age” today. “Rather than just sending out bonuses on a mass scale to encourage one-time customers, with real-time data you get the complete picture of the player and can react and plan accordingly. Marketing “Using data effectively is a huge challenge, and while many are moving in that direction, it can be overwhelming. We can bring those ready-made solutions to the table. Operators don’t just have to rely on their own developers and in-house teams.” That’s the view of Harel Falk, VP of sales & business development at Solitics, who will next week address the future of bonusing in a webinar presented in association with iGB – “Bonuses: a new age”. He will argue that operators who utilise real-time data to develop a personalised and enriched customer journey, which includes bonuses, can achieve those jackpot prizes of improved player satisfaction, engagement and, ultimately, retention. A new era By implementing a more targeted approach, Falk says: “You can make decisions based on the products the player likes, how long they tend to play for, how much they tend to deposit or spend and whether they have set limits.” Data-driven approach This valuable data can help to build a more valuable relationship between customer and operator, with marketing teams and systems able to formulate a personalised customer journey. Individualised and relevant bonusing should fit into that long-term strategy. In a session aiming to stimulate debate and be of interest to executives from across marketing, product and technology, Falk will look at how operators can overcome the challenges of developing bonus strategies in a changing landscape in terms of technology, public perception and regulation. Topics: Casino & games Marketing & affiliates Sports betting Strategy Marketing “By using real-time data, we can create a journey that is specific for each customer, with marketing strategies – including bonusing – putting the emphasis on players having fun, feeling welcome and feeling that their positive experience is designed for them. Email Addresslast_img read more

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Italy FY 2020: revenue, top 10 operators, product

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter The changes in the market led to some shift in the market share among the leading online casino providers in the market. However, the top four – of Pokerstars, Sisal, Lottomatica and Snai – all remained in place. Pokerstars, already the biggest online operator in the country, was perhaps the biggest winner, increasing its market share to 12.2%. Snai, previously in third place, moved into a close second with 13.2% as Planetwin365 slipped to third. Eurobet and Sisal’s market shares also exceeded 11%, closing the gap with Planetwin365 (Chart 8). 12th February 2021 | By Daniel O’Boyle Within this segment, casino and slots were the main revenue driver generating 82.4%, or €1.22bbn, of the total. This represented a 46.5% improvement on 2019’s figures (Charts 3 and 4). Email Address In online betting, Bet365 remained on top but its market share declined from 15.7% to 14.0%. The online betting giant lost its top spot in the rankings for November and December as the country went back into lockdown. This saw retail operators climb the charts, as their customers migrated online. In a year defined by the novel coronavirus (Covid-19) pandemic and resulting lockdowns, Italy’s igaming market grew 43.2% as retail closures accelerated a shift to online betting and gaming. Italy FY 2020: revenue, top 10 operators, product Subscribe to the iGaming newsletter Topics: Finance Online casino Poker Full year results 2020 Online sports betting Full year results 2020 According to figures supplied by Ficom Leisure to iGB, revenue for all online verticals increased (see interactive Charts 1 and 2 below). As the online poker market grew considerably, Pokerstars’ domination continued. While its share of tournament GGR dipped slightly to 58.2%, it increased its share of cash game revenue to 46.8%. Snai was a distant second in tournament revenue, while Sisal held that spot for cash games (Charts 10 and 11).center_img Online gaming, meanwhile, saw gross revenue climb 47.1% to €1.48bn. Meanwhile, the global boom in online poker under lockdown was reflected in a strong year for the vertical in Italy. This consolidation means that the top eight online betting operators now hold a combined 78.5% market share. The value of omni-channel products can also be seen, with six of these eight having some form of retail presence. Looking at the combined online and retail sports betting market, online-focused operators were unsurprisingly the biggest winners. Lottomatica’s market share share rising 3.6 percentage points and Bet365’s 1.7 points. However, Snai remained on top with a 1.51% market share (Chart 9). This included online sports betting, which held steady for the first half of the year despite the suspension of almost all global sports from mid-March to June, before a 74% year-on-year growth in H2 (Chart 5). As a result, total online betting revenue fell just short of €1bn (Chart 6). Tags: Ficom Leisure Christian Tirabassi Regions: Europe Southern Europe Italy Cash games and poker tournaments generated GGR of €124.3m and €82.7m respectively. The vertical’s revenue for the year totalled €207.0m, representing year-on-year growth of 50.2% and reversing the trend of decreasing GGR. Bingo GGR accounted for 3.9% of the total online gaming market, at €58.2m (Charts 2 and 3). Scroll down for the infographic to track market growth since 2016, as well as shifting revenue shares over the years. “Going forward, we expect the pure online operators to acquire Italian land-based networks (shops or land-based affiliates) in order to be able to compete in one of the largest online regulated markets in Europe,” Tirabassi added. Looking down the rankings, however, there was change as 888 overtook Eurobet as its market share grew to 6.8%, while SKS365’s PlanetWin365 saw its share grow from 4.8% to 5.3% and Goldbet moved into the top 10, with William Hill falling out (Chart 7). “The Italian land-based and online betting and gaming market is experiencing an acceleration in operators consolidation through M&A,” Ficom founder Christian Tirabassi said. “The leading operators in the online and mobile betting and gaming are companies with an omni-channel offering (online marketing plus land-based player acquisition).”last_img read more

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