Latest News

UK Bookmakers Agree Cash Boost for Horseracing

Published

3 years ago

November 11, 2020

Reading Time: 2 minutes

Bookmakers in the UK have agreed to pay additional fees on existing streaming and data deals until December 2, to provide much-needed financial help for the horseracing sector during the latest Covid-19 lockdown.

The extra revenue from online operators will help racecourses to make up for some of the funding shortfalls caused by the widespread closure of betting shops in the UK and Ireland for the next month. Bookmakers agreed to similar increased pricing in June and July when betting shops were closed.

More than half of racecourses’ revenue comes from spectators, meaning the ongoing ban is crippling the sport – and putting the future viability of courses at risk unless the Government allows their return.

“We are very grateful for the betting industry to agree to paying increased fees for the next month, while most of Britain and Ireland will be locked down. Newbury Racecourse has long enjoyed valued partnerships with bookmakers, and we are of course looking forward to the Ladbrokes Winter Carnival this month,” Julian Thick, CEO of Newbury Racecourse, said.

“This additional funding will be much valued by racecourses but it won’t plug the hole left by lost revenues from LBO closures for the next month. Make no mistake, racecourses are really suffering at the moment, and the return of crowds is absolutely critical to us operating but we are grateful for betting industry’s support throughout the difficulties of the Covid-19 crisis,” Julian Thick added.

The close collaboration is evidence of the betting and gaming industry’s determination to help racing through the crisis. The timely support comes as racing fights to deal with the financial impact of the ban on spectators and the closure of betting shops.

Michael Dugher, chief executive of the BGC, said: “There has always been a close relationship between betting and racing. So, with the Government’s ongoing Covid restrictions affecting the sport so severely, it’s welcome that bookmakers are stepping up to further support the sport.

“This extra funding for streaming and data rights will undoubtedly help racing’s finances for the next month and I’m delighted to see BGC members assisting the sport in this way.

“We will continue to make the case to the Government that betting shops should be allowed to re-open, in line with the rest of non-essential retail, once the national lockdown ends, and that socially-distanced crowds return to race meetings as soon as possible.

“I’m equally sure that the whole of racing will be making the case ahead of the Government’s gambling review that a healthy betting industry is critical to the future of the sport.”

Gambling in the USA

Kambi Group plc extends Mohegan partnership with on-property sports betting agreement in Pennsylvania

Published

14 seconds ago

May 2, 2024

GamingAmericas.com

kambi-group-plc-extends-mohegan-partnership-with-on-property-sports-betting-agreement-in-pennsylvania

Kambi Group plc (“Kambi”), the world’s trusted sports betting partner, has agreed a long-term on-property sportsbook partnership with Mohegan to provide its award-winning sportsbook at two retail locations in the state of Pennsylvania.

The partnership will see Mohegan utilise Kambi’s cutting-edge retail sportsbook offering across more than 20 kiosks in sportsbook locations at Mohegan Pennsylvania and Mohegan Pennsylvania at Lehigh Valley Race and Sportsbook.

The deal further strengthens Kambi’s relationship with Mohegan, which already utilises Kambi’s suite of sports betting products at ilani in Washington, as well as online and on-property in the Canadian province of Ontario at Fallsview Casino Resort and Casino Niagara.

Kristian Nylén, Kambi CEO and Co-founder, said: “With several successful partnerships with Mohegan already in place, we are pleased to agree this new partnership as we continue to build on our strong relationship.

“This latest deal further reinforces Kambi’s position as the sportsbook provider of choice for tribes across North America, and we look forward to our ongoing collaboration with Mohegan.”

Tony Carlucci, President & GM of Mohegan Pennsylvania, said: “Mohegan Pennsylvania is excited to continue utilising the same Kambi technology platform that existed under our Kindred partnership, which will help to create a seamless process as the Sportsbook at Mohegan Pennsylvania fully rebrands later this Spring.”

Blockchain

JuicyBet Launches Its Innovative GambleFi Platform

Published

15 seconds ago

May 2, 2024

GamingAmericas.com

juicybet-launches-its-innovative-gamblefi-platform

JuicyBet, a Web3 startup, announced the launch of its GambleFi platform. This platform combines finance technology and gambling via blockchain to create unique opportunities and experiences for users. The company strives to revolutionize the principles of the online betting industry and the interaction between platforms and users in this market.

What is GambleFi?

GambleFi uses blockchain technology to ensure the fairness and transparency of games and betting outcomes and for players to get their share of the platform’s earnings and participate in its governance and day-to-day by holding its tokens.

How JuicyBet works

JuicyBet fully utilizes blockchain technology to establish a new ecosystem that has never been seen in the gambling industry. It is centered around user participation and transparency while providing gambling thrills and quality entertainment.

All game records on the platform are kept in a public blockchain, while a set of smart contracts automates gaming outcomes and payouts and provides for the platform governance via the DAO model. This reduces fraud risks and operational costs, making JuicyBet a more efficient platform.

However, the platform’s main feature is the unprecedented level of user engagement via the platform’s native tokens.

First, the tokens provide access to betting.
Second, token holders get their share of the platform’s profit.
Third, token holders can vote on key decisions on the platform’s development in JuicyBet DAO.
And finally, DAO participants can also perform the role of oracles for bets and earn rewards.

In other words, JuicyBet doesn’t try to be just another gambling platform. It establishes a new ecosystem where users are in control of the platform and bets and are the beneficiaries of the platform.

In addition, JuicyBet offers additional earning opportunities, such as Double Farming and staking for token holders.

JuicyBet has already been noticed by users and investors – the platform’s 3-month turnover has exceeded $1,5 million, according to on-chain data available via Dune, and multiple centralized exchanges and launchpads have listed it.

Latest News

Tequity agrees RGS licensing deal with Fantasma Games

Published

4 hours ago

May 2, 2024

Zoltan Tundik

tequity-agrees-rgs-licensing-deal-with-fantasma-games

Reading Time: < 1 minute

Listed Swedish studio to benefit from increased speed to market

Tequity, the up-and-coming iGaming software pioneer, has agreed an integration deal with innovative studio Fantasma Games.

The integration of Tequity’s agile, licensed modular platform is expected to boost the speed-to-market capabilities of Fantasma, as the studio aims to grow its presence in key markets including North America.

Tequity’s platform incorporates a Remote Gaming Server (RGS) that increases operational efficiencies. Once live, Fantasma will be able to reach the next level by adding partners at a quicker rate, as it looks to meet operator demand for fresh types of content including increasingly popular sweepstakes.

The latest deal, with a studio listed on the Swedish stock market, follows on from successful launches of Tequity technology with sports betting-focused Parlaybay, multiplayer specialist BeyondPlay and slots supplier AvatarUX.

Tequity offers founders, start-ups, scale-ups and established companies across the iGaming sector a wide range of software modules that can be hand-picked to meet the needs of specific projects.

Krzysztof Opałka, Chief Technology Officer at Tequity, said: “We are excited to be working with Fantasma Gaming, to help further their growth in key markets worldwide.

“This partnership illustrates the power of our platform in delivering an efficient RGS solution that speeds up the launch process of their top-quality content. The Tequity platform offers a strong foundation for licensees wishing to create and deliver unique content to operators.”

Fredrik Johansson, CEO and Founder of Fantasma Games, added: “Thanks to the Tequity platform, Fantasma Games is working faster and smarter across a number of areas, allowing us to bring innovative content to our partners at speed.

“This integration significantly boosts our growth potential, as we look to increase the number of operator partners we work with around the world and deliver them relevant, localised and exciting games.”

The post Tequity agrees RGS licensing deal with Fantasma Games appeared first on European Gaming Industry News.