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Cyprus: National Betting Authority Reveals Strong Growth in Q3 2023

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The National Betting Authority has released the financial outcomes for the third quarter of 2023, showcasing a continual surge in the revenue of the betting sector, underscoring its robust and consistent growth.

As per the disclosed financial results, the gross betting revenue for both Class A (land-based betting) and Class B (online betting) recipients reached €259,440,696. This signifies a noteworthy 9% surge in comparison to the third quarter of 2022 (€238,175,857) and an even more substantial 35% increase in contrast to the third quarter of 2021 (€192,087,098).

Breaking down the figures, Class A recipients contributed €70,941,349, while Class B recipients accounted for €188,499,347 of the total gross revenue. Class A recipients observed an 8% increase in gross revenue compared to the same period in 2022 and a substantial 21% surge in comparison to the third quarter of 2021. Meanwhile, Class B recipients experienced a 9% rise compared to the corresponding quarter of 2022 and an impressive 41% increase compared to the third quarter of 2021.

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Profits for both Class A and B players continued their upward trajectory, reaching €232,011,110. This represents an 11% uptick compared to the same period in 2022 and a notable 38% increase from the third quarter of 2021. Notably, the lion’s share of profits, specifically €172,726,941, belonged to Class B players during this quarter.

However, Class A and B betting earnings totaled €27,429,585, reflecting an 8% decrease compared to the corresponding quarter of the previous year (€29,705,139). Specifically, Class A betting receipts amounted to €11,657,180, marking a 14% decrease compared to the third quarter of 2022, while Class B betting receipts totaled €15,772,406, presenting a 2% decrease compared to the same period.

Examining the landscape of Class A properties, their number decreased by 2% in the third quarter of 2023 compared to the corresponding period of the previous year. The licensed properties, predominantly concentrated in Nicosia (169), Limassol (140), Larnaca (88), Paphos (54), and Famagusta (39), amounted to a total of 490 Cypriots.

Despite the positive financial indicators, there was a 44% increase in license cancellations or application withdrawals compared to the corresponding quarter of 2022. The number of individuals employed in licensed premises reached 1472, showcasing a 3% increase compared to the same period in 2022.

Addressing the issue of illegal betting, the report highlighted a 2% increase in blocked websites compared to the second quarter of 2023, with a total of 339 illegal websites added to the list. The current roster of prohibited betting service websites now stands at 18,577.

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Canada

Canadian Gaming Summit 2024: Innovation and Networking Converge in Toronto

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The Canadian Gaming Summit (CGS) is set to take place from June 18-20, 2024, at the Metro Toronto Convention Centre. Organized by SBC Events in collaboration with the Canadian Gaming Association (CGA), this premier event promises to be an unparalleled gathering for gaming and sports betting professionals from Canada and beyond.

A Gathering of Industry Leaders

The 27th edition of the Canadian Gaming Summit is anticipated to draw over 3,000 delegates, including more than 1,000 operators, 200 affiliates, and 150 speakers. This year’s event is a must-attend for companies eager to engage with one of the world’s most dynamic gambling markets. The Summit will feature a rich conference agenda and a diverse array of exhibitors, reflecting the evolving landscape of the industry.

Highlighting Key Features

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Player Protection Symposium
 A high-level session dedicated to preventing gambling harm, providing crucial insights and strategies for responsible gaming practices.

Electronic Gaming Academy Masterclass
 An in-depth analysis of how Return to Player impacts different player categories, offering valuable knowledge for enhancing player experiences.

Global Gaming Women’s Breakfast
 A networking event aimed at connecting women in the industry, promoting diversity and inclusion over coffee and croissants.

First Nations Gaming Breakfast Meetup
 A unique opportunity for First Nations gaming delegates to network and share insights over a complimentary breakfast.

Networking and Learning Opportunities

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CGS 2024 will offer an all-inclusive networking experience from the moment attendees step inside. Each day begins with dedicated networking areas on the show floor, featuring hot refreshments, breakfast, and lunch. Evening networking parties at some of Toronto’s most upscale venues will provide the perfect setting to build on relationships formed during the conference.

Evening Networking Events

Opening Party (June 18)
 Held at RS Sports Bar, this pre-registration event includes complimentary drinks, canapés, and a live DJ, setting the stage for the conference days ahead.

Official Networking Party (June 19)
 Taking place at Lavelle, one of Toronto’s premier locations, this party offers complimentary food and drinks, ensuring a relaxed environment for networking with industry professionals.

A Comprehensive Agenda

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The Canadian Gaming Summit will cover a broad spectrum of topics across the gaming and sports betting sectors, including:

  • The latest compliance updates and insights into global regulatory trends.
  • The integration of fintech and blockchain technologies in the gaming industry.
  • The strategic use of gamification to enhance player retention and loyalty.
  • The impact of the Digital Services Act and AI EU Act on businesses.
  • The emergence of Decentralized Autonomous Organizations (DAOs) in gaming.

The Canadian Gaming Summit 2024 promises to be an event filled with learning, networking, and growth opportunities. Don’t miss your chance to be part of Canada’s premier gaming and betting event. Secure your spot and be ready to explore the future of gaming in one of the most exciting markets in the world.

For more information and to register, visit the Canadian Gaming Summit website.

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Interviews

Amplifying horse racing: An inside look at how Altenar is diversifying its platform in partnership with SIS

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Industry heavyweights SIS and Altenar are both well-respected suppliers in the industry, known for delivering memorable sports betting experiences. After penning a new deal to boost its horse racing offering, Antonis Karakousis, Director of Operations at Altenar, is joined by Andy Kelly, Head of Commercial Partnerships at SIS to discuss the huge benefits in play.

 

How did the partnership come about?

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Andy Kelly: One of the biggest goals for SIS this year is continued geographic expansion. Having signed a host of international deals, we are looking to enhance our reach, a key strategy to support this ambition is to partner with leading platform providers that have big networks worldwide. Altenar has an impressive client base and being able to collaborate will only serve to benefit both brands. Our extensive product range appeals to operators in search of added value, with 24/7 betting content to drive new operator revenue streams across racing, competitive gaming (esports), and live number draws.

We have hit the ground running with Altenar, with our teams demonstrating a willingness to cooperate and implement strategies in providing products to operators efficiently, with no disruption to existing offerings.

Antonis Karakousis: The collaboration with SIS is a significant milestone for us.. The decision to add a racing provider to our in-house sportsbook stemmed from our commitment to offering a diverse and engaging sports betting experience to the users. Recognising the popularity and global appeal of racing products, we sought a reputable partner who could deliver high-quality content and a seamless integration process.

 

What excites you the most about the partnership?

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Karakousis: The breadth of SIS’ offering, including its extensive portfolio of horse racing services, real-time data, and streaming solutions, aligns seamlessly with our commitment to providing diverse and engaging content to users. We look forward to the positive impact this partnership will have on our platform and the satisfaction it will bring to our operators.

Kelly: Our partnership with Altenar provides us with the opportunity to offer the full SIS product range to a host of new operators across the world through a single integration. The deal means we can get more eyes on our products. We are launching with over 74,000 racing events every year, with our range of live fixed odds numbers draws to follow, with Competitive Gaming events-based sports simulation product completing the product offering. It’s about providing Altenar with a range of premium, highly engaging content that creates fresh revenue opportunities around the clock, through exciting short-form events.

It has been great to see both sides sharing insights to ensure smooth and seamless processes in delivering content to a wide range of operators.

 

How has the integration worked so far?

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Kelly: The integration process has all been smooth so far, aided by the experienced and very capable technical teams on both sides. Together we will be able to offer bettors more round-the-clock opportunities across the product range, initially starting with our live racing content. Having worked with platform providers in the past, we are confident that we can continue to get our products to market through Altenar quickly and seamlessly.

Karakousis: Working closely with the SIS team, our technical experts have engaged in a concerted effort to ensure a smooth incorporation of their products into the Altenar sportsbook. We are pleased to share that the integration has exceeded our expectations on several fronts.

 

Are there any more products in the pipeline?

Karakousis: Our collaboration with SIS goes beyond the launch of the horse racing product. We have exciting plans in the pipeline, with both greyhound racing and lottery games set to be introduced in the near future. There is no doubt that SIS’ product base is one of the most respected  in the industry and has elevated our offering to a wider audience. Additionally, as 2024 progresses, we expect the horse racing product to expand further, bolstering odds on some of the world’s premier race meetings.

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Kelly: We are constantly looking at enhancing our existing product range to serve the evolving needs of operators. This has previously been demonstrated by our expanded range of live fixed odds numbers draws, with high-frequency Fast 15’s designed to keep bettors engaged with a new draw every three minutes.

We will also continue to grow our live racing content offering across the world. We have the rights to some of the biggest and most prestigious international races in the world including all contests at Saudi Cup and the Dubai World Cup, to name a couple. Having rolled out fixed-odds betting in Colorado with bet365 recently, we are hopeful that other US states will follow suit.

There is also the possibility of adding a wider array of sports simulations to our SIS Competitive Gaming offering to ensure localised appeal.

 

How do you foresee 2024 going in terms of this partnership?

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Kelly: We believe the rest of the year will bring mutual success and growth for both SIS and Altenar. We are already seeing the positive impact of our partnership, with collaborations across multiple departments, working together cohesively to meet the challenges of the market together by delivering a product range that engages bettors and provides additional revenues for operators globally. With our combined efforts this is certainly achievable.

Karakousis: As we look ahead to the rest of the year, we are highly optimistic about the trajectory of our partnership with SIS and the impact it will have on the Altenar sportsbook. The collaboration has already laid a strong foundation with the successful launch of the horse racing product, and we anticipate several key developments and milestones in the coming year.

The post Amplifying horse racing: An inside look at how Altenar is diversifying its platform in partnership with SIS appeared first on European Gaming Industry News.

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Latest News

Nolimit City Takes Fans to Discover Tropical Terrors in Beheaded

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Forget the dusty saloons of Deadwood R.I.P, the TV dreams of Loner and the spicy dungeons of Kenneth Must Die. This time, you’ll find yourself stranded on a lush island paradise, but paradise takes a dark turn when you discover a Tiki collector with a taste for shrunken heads!

Hunted with no food or water, players must face the base game, which features a Progression Bar, where each fallen head is collected. Filling it up will unlock Soul Wilds that progressively increase in size and power. Wild Symbols add 3 points, High Paying Symbols add 2 points and Medium Paying Symbols add 1 point to the bar. The Ayahuasca Spins feature throws players a lifeline. Each time a new level is reached on the Progression Bar, 2 Free Spins are rewarded.

Heads up there are 5 levels to be reached. As you fill the Progression Bar, you’ll unlock a trio of fearsome Soul Wilds. Each Soul Wild brings a different-sized Wild Symbol to the reels and a multiplier boost.

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Reach the top level of the Progression Bar or collect enough Soul Jars to trigger Tzantza Spins. In these Free Spins, 10 Spins are awarded and all Medium Paying symbols are replaced with High Paying Symbols.

After Tzantza Spins have ended (without a Max Win) you are faced with a decision; The Butterfly Potion or the Skull Potion. The Butterfly potion guarantees a win ranging from 5x – 8000x the base bet which is added to the winnings. The Skull Potion on the other hand gives the option of winning the Max Win or losing it all.
The higher the accumulated win amount, the larger the chance to grab the max win. Just remember, the Skull Potion is a true all-or-nothing decision.

xBet™ makes the chase more interesting by tripling the chances of triggering Tzantza Spins. If the Max Win is reached, the ‘Headfull Collection’ is complete, with a maximum payout of 15,950x the base bet. Beheaded is a thrilling slot – and it’s “Extremely Volatile” rating primes it to become a staple in Nolimit City’s catalogue.

Per Lindheimer, Head of Product at Nolimit City, said: “Beheaded is a wild ride with tons of features, but it keeps you glued to the screen. The ever-growing Progression Bar filling with fallen heads creates a chilling tension, while the Soul Wilds themselves are a twisted blessing. While the Pick-a-Potion feature injects a dose of Nolimit City signature high-risk, high-reward thrills. So…Where’s your head at?“

Beheaded’ will be available to all Nolimit City partners on June 18th, 2024.

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The post Nolimit City Takes Fans to Discover Tropical Terrors in Beheaded appeared first on European Gaming Industry News.

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