Connect with us

Latest News

Betting Brands may Shift Focus from Sports to Casino Amid COVID-19 Pandemic

Published

on

Reading Time: 3 minutes

 

COVID-19 has shaken up the world. No one and no business has been left unaffected by the virus, and that includes the betting industry. Land-based casino and betting shops have especially felt the impact of the novel coronavirus, which has forced these establishments to close to help stop the spread of the disease. Even the biggest sports betting brands in the UK have suffered online and offline from the widescale suspension, postponement or cancellation of major sporting events.

There’s no question that as far as the gambling industry is concerned, brick and mortar betting shops and casinos have taken the hardest hit, with one of the worst cases being in Nevada, which shut down every casino on its famous Las Vegas strip back in mid-March. Nevada depends on tourism more than any other U.S. state and is used to catering to tens of millions of visitors annually. Unemployment rates are expected to go up by a minimum of 30% in the state, according to the Nevada Resort Association. This has left many to wonder and worry if Vegas’ big names like Wynn Resorts, MGM Resorts, and Sand Crop. will survive the virus’ economic impact, even with help from the financial relief plan.

That said, the closures caused by the coronavirus have been felt across the industry. For instance, the impact on big groups like GVC has resulted in the company taking steps to do what it can to alleviate the strain that has been placed on its operations. Like other companies, GVC has been working hard to lower costs and re-prioritize activity to preserve free cash while making sure its customers continue to be able to enjoy great experiences. Among these re-prioritisations has been reducing the amount spent on sports content, online sports marketing, and trading costs.

Photo source: Shutterstock

Even online Sportsbook is not Immune to Coronavirus

Naturally, the online gambling industry has a massive advantage over its land-based counterparts. No one needs to social distance online and gambling can be enjoyed safely from home 24/7 via a computer or mobile, whether one is self-isolating or in full quarantine. However, in spite of this fact, online sportsbooks continue to find it a challenge to make the most of the internet advantage.

With no active mainstream sports, online bookies have been forced to fill the void with more emphasis on the virtual world of sports, including animated versions of major horse races like the Grand National, which was canceled because of the COVID-19 pandemic. The Virtual Grand National, like other virtual races, was a computer-simulated race. It included virtual spectators and virtual ambulances that followed the runners and riders around the courses.

Beyond virtual sports, digital bookmakers have also placed greater focus on eSports as well as other lesser known events. Still, even with the focus on these other events, all online bookmakers have seen a dramatic decline in depositors and increased churn rates because it is simply far too difficult to retain players when the major sports betting markets are at a standstill.

Many of the big name gambling operators have watched the value of their shares suffer from the COVID-19 outbreak. Some of these include:

  • William Hill shares have dropped by more than half since the 21st of February 2020
  • GVC Holdings (owner of Ladbrokes Coral) has seen a drop in share prices by more than 20%
  • Flutter Entertainment (owner of Paddy Power Betfair) has seen its share value tank by over 15%

Sportsbooks May Shift their Focus to Online Casinos

Online casinos, which offer online slots, virtual table, and card games, scratch cards, live casino games, etc. are in much better shape than their sportsbook cousins and that’s because they don’t depend on sports or other major events to continue carrying on with business as usual.

As such, many bookies that also offer a casino platform may consider cross-selling their online casino products to their existing sports betting customers in an attempt to recoup some of the money they’ve lost. This tactic could work as bored housebound punters, who previously focused solely on sports, can be keener to engage in casino entertainment until they can bet on their favorite football matches or horse races again.

Since March, COVID-19 has shut down most economies and sent more than a billion people into lockdown. Like many other businesses considered non-essential, land-based gambling establishments have closed their doors until the outbreak and restrictions ease. While only time will tell how well gambling operators will fare once the worst of the pandemic has run its course, for now, all they can do is focus on their online operations and survive as best they can. For some, online casinos could potentially provide the life raft they need to stay afloat.

Continue Reading
Advertisement

Aristocrat Gaming

Aristocrat Gaming and Metropolitan Gaming Partner to Open Aristocrat on the Square at Empire Casino

Published

on

aristocrat-gaming-and-metropolitan-gaming-partner-to-open-aristocrat-on-the-square-at-empire-casino

Metropolitan Gaming, in partnership with Aristocrat Gaming, introduced Aristocrat on the Square, a premium new gaming experience for guests at Empire Casino in London and the first dedicated Aristocrat Gaming space in the UK.

Aristocrat on the Square showcases an impressive lineup of popular Aristocrat Gaming titles tailored specifically for the UK, including popular releases like NFL Triple Score, Lightning Link, Mo Mummy and Bao Zhu Zhao Fu Link. The space is designed to elevate the player experience, highlighted by an engaging LED ceiling and upscale décor that create an inviting lounge atmosphere.

“The debut of Aristocrat on the Square at Empire Casino marks a significant milestone for Aristocrat Gaming, reinforcing our commitment to customers across EMEA and expanding our presence in the UK as we continue delivering world‑class gaming experiences to players around the globe. Our partnership with Metropolitan Gaming reflects a multi-year investment in bringing cutting‑edge games, hardware, marketing, and entertainment experiences to players across Europe,” said Craig Toner, CEO of Aristocrat Gaming.

“The launch of Aristocrat on the Square at Empire Casino represents an exciting new chapter for Metropolitan Gaming. As the first dedicated Aristocrat Gaming space in the UK, it reflects our focus on creating distinctive, premium environments that elevate the player experience. Working closely with Aristocrat, we’ve brought together world-class gaming content and a carefully designed setting to deliver something truly special for our guests at Empire Casino,” said Alex Oswald, Managing Director of Metropolitan Gaming.

To celebrate the launch, Empire Casino hosts a month-long Home of the Hot Seats promotion throughout February, offering players the opportunity to win vouchers, free play and more.

The post Aristocrat Gaming and Metropolitan Gaming Partner to Open Aristocrat on the Square at Empire Casino appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Continue Reading

Betfred

Betfred Expands its Partnership with Sportradar

Published

on

betfred-expands-its-partnership-with-sportradar

Betfred has extended and expanded its longstanding partnership with Sportradar. As part of the agreement, Sportradar will upgrade the retail platform technology underpinning the operations of Betfred’s 1300 retail outlets nationwide, ensuring a sustainable and engaging betting offering is available on the UK high street.

The additional multi-year scope of work further strengthens a partnership built over the past decade. Sportradar’s future ready retail platform enables faster operations and effective risk control. The technology allows Betfred to handle intense data loads around big sporting moments and scale in real-time as bets are placed, ensuring bettors can engage with their sports and place a wager regardless of an event’s popularity.

Under the terms of the agreement, Sportradar will oversee continuous improvements to the Betfred retail platform to ensure ongoing operational excellence and adherence to local regulation and compliance. Furthermore, the technical framework allows Betfred to integrate a multitude of Sportradar’s next generation products and services to deliver a contemporary in-shop experience.

Duncan McDonald, Head of Corporate and Retail Support, Betfred said: “This agreement re-affirms our joint commitment to one another, to develop new products and features that enhance our customer offerings. It future proofs our retail business and secures our partnership with Betfred’s in house technology team and Sportradar for years to come.”

Paolo Personeni, EVP, Managed Betting Services, Sportradar said: “In today’s hyper-competitive marketplace Sportradar is well positioned to help Betfred achieve its long-term growth objectives. With high street operations closely watched, the technological capabilities powering the Sportradar Retail Platform will allow Betfred to deliver a sustainable and long-term retail offering that engages today’s demanding sports bettors.”

The post Betfred Expands its Partnership with Sportradar appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Continue Reading

Compliance Updates

Dutch Regulator Urges Online Gambling Providers to Stop Using “Share Your Bet” Feature

Published

on

dutch-regulator-urges-online-gambling-providers-to-stop-using-“share-your-bet”-feature

 

The Dutch Gambling Regulator (KSA) has urged the online gambling providers to discontinue the “Share your bet” feature. This feature allows players to share their placed bets via social media or messaging apps such as WhatsApp, Facebook and email. The KSA investigated the functionality of this feature after receiving several signals and questions from the market.

“Share your bet” function

The “Share your bet” feature allows players to easily share their bets with others. It works like this: a player places a bet and sends it via a link to, for example, friends or family. The recipient can then immediately see the bet and, if they have an account, participate as well. This makes gambling easily shared, often via social networks.

Protection of vulnerable groups

The KSA points out that the “Share your bet” feature is a form of advertising and recruitment. It’s a way for providers to promote gambling, but indirectly through players themselves. According to the Decree on Recruitment, Advertising and Addiction Prevention in Gambling, providers must ensure that advertising does not reach vulnerable groups, such as minors, young adults and people with gambling problems.

Because players with the “Share your bet” feature decide who to send their bet to, providers have no control over who receives the shared messages. This means that gambling providers cannot guarantee that vulnerable groups will not unintentionally encounter gambling advertising. Therefore, offering features like “Share your bet” is not permitted.

In addition, the ease of sharing bets helps normalize gambling. This lowers the barrier to entry, especially among younger demographics.

Discontinue “Share your bet” functionality

The KSA is therefore calling on all online gambling providers using the “Share your bet” feature to immediately stop doing so. The KSA will continue to monitor any new developments in this area and will take enforcement action where necessary to ensure the protection of vulnerable groups.

The post Dutch Regulator Urges Online Gambling Providers to Stop Using “Share Your Bet” Feature appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Continue Reading

Trending

Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania