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BGC Members Make Record Horserace Betting Levy Contribution

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Betting and Gaming Council members are expected to contribute a record £105m in levy payments to the Horserace Betting Levy Board for last year, new figures reveal.

The figure, provided by the independent Horserace Betting Levy Board, is an increase of £5m on the previous year.

As a result of this record additional funding from bookmakers, the HBLB announced an increase of £3.2m in its prize money contribution for 2024 versus 2023, from £67.3m to £70.5m.

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It is the third year in a row that Levy contributions have increased, from £97m in 2021/22, to £100m in 2022/2023 and now £105m in 2023/2024.

According to the Horserace Betting Levy Board, the £105m total is derived from the receipt of provisional end of year submissions from most Levy-paying bookmakers.

Michael Dugher, Betting and Gaming Council CEO and Acting Chair, said: “This record contribution to the Levy is extremely welcome news and demonstrates once again the enduring, mission critical support regulated betting provides British horseracing.

“Despite a double digit decline in horserace betting turnover over the past five years – and a double digit decline in racecourse attendances – this shows that levy contributions and prize money are both up, and it once again provides a timely reminder that racing could not survive without the record financial support that is flowing from betting.

“Our members remain committed to the long-term success of horseracing, and the huge economic contribution it makes across the country, especially in rural communities.

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“Attention must now turn to how we challenge vested interests, introduce real change and reform the sport, ensuring we reverse the current decline and provide racing with a genuinely long term sustainable future.”

Horseracing is the second biggest spectator sport in the UK, second only to football, with around five million people attending approximately 1400 fixtures annually across 59 racecourses.

However, the sport has been in decline in recent years. In 2007, 17% of the population enjoyed horserace betting the previous year, but that fell to 10% in 2018, while racecourse attendances have dropped by 14% since 2019.

Meanwhile, horserace betting turnover for April to December 2023 is down 17% vs the average for the same period across the last five years.

The BGC has made significant efforts to lessen the impacts on racing as a result of the Government’s White Paper on gambling reforms, particularly on the issue of affordability.

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Earlier this month the BGC announced a new voluntary industry Code on Customer Checks which raises standards, while reducing the need for requests for private financial documents.

Developed jointly with the Gambling Commission and backed by Government, this Code will operate as a voluntary interim scheme – bringing consistency across the regulated sector for operators who adopt it – until the frictionless financial risk assessments set out in the Government’s White Paper can be developed, tested and implemented.

While this Code delivers progress on resolving the issue of intrusive document checks, it does not offer a complete solution. So, the BGC and GC are now actively working on a new Code on Anti-Money Laundering checks, which also trigger requests for documents.

The BGC is currently working with the British Horseracing Authority and government to resolve a settlement on a new voluntary Levy to support horseracing.

It is estimated BGC members contribute around £350m a year to British horseracing in Levy, media rights and sponsorship deals.

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Meanwhile the wider regulated betting and gaming sector supports 110,000 jobs, generates £4.2bn in tax and contributes £7.1bn to the economy.

Each month around 22.5m adults in Britain enjoy a bet, whether it’s buying a lottery ticket, having a game of bingo, visiting a casino, playing online or having a wager on football, horseracing and other sports.

The most recent NHS Health Survey for England estimated that 0.4% of the adult population are problem gamblers.

The post BGC Members Make Record Horserace Betting Levy Contribution appeared first on European Gaming Industry News.

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INSPIRED DELIVERS BESPOKE GOLD CASH FREESPINS™ TITLE FOR BETFRED RETAIL

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Inspired Entertainment, Inc. (“Inspired” or the “Company”) (NASDAQ: INSE), a leading B2B provider of gaming content, systems, and solutions along with The Betfred Group, UK based bookmaker proudly announce the launch of Betfred Gold Cash Freespins™.

Immersing players in the atmosphere of Betfred’s distinctive style, Betfred Gold Cash Freespins is a 5-reel, 4-row, 40-win line slot adorned with Betfred-branded Wilds and symbols. Enhanced by a Free spins Bonus and a gamble feature, this game promises excitement at every spin. Triggering the Free Spins bonus requires three bonus symbols in a single spin, rewarding players with eight free spins.

Players have the opportunity to wager for additional Free Spins or to increase their cash winnings through the gamble feature. With a choice between two gamble wheels, players select their preferred wheel to activate this exciting feature. Featuring stacked Wilds on reels two, three, and four, these symbols act as substitutes for any other symbol on the reels, adding an element of excitement and anticipation to the gameplay.

Betfred Gold Cash Freespins seamlessly merges Betfred’s iconic branding with Inspired’s captivating gameplay from the Gold Cash Freespins theme, delivering an immersive and personalized gaming journey tailored to Betfred’s audience. This collaboration showcases Inspired’s expertise in crafting tailored gaming experiences that resonate with individual operator brands.

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Inspired’s UK Product Director, Richard Terry, said:  ‘We are proud and excited to be re-launching Gold Cash Freespins in partnership with our long-term customers Betfred. Gold Cash Freespins is extremely popular with players across all gaming verticals and has been transformed for retail with game optimisation functionality and the addition of the iconic Betfred branding.

Speaking ahead of the launch, Betfred’s Head of Retail Marketing, Clare Smith, said: “We’ve been delighted to work with Inspired to bring this new and innovative game to our loyal customers and believe they will be equally as excited by it as we are!”

The post INSPIRED DELIVERS BESPOKE GOLD CASH FREESPINS™ TITLE FOR BETFRED RETAIL appeared first on European Gaming Industry News.

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7777 gaming

7777 gaming secures supplier license in Peru

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7777 gaming has been granted a supplier license in Peru, marking a significant step in the company’s expansion across Latin America. Granted by the Peruvian Ministry of Foreign Trade and Tourism (MINCETUR), this new B2B license allows 7777 gaming to provide its online game content to locally licensed operators in the country. New legislation, which introduced a licensing system for online betting and gaming, came into force in Peru at the end of 2023, with the regulated market soon to go live.
7777 gaming is fully compliant with Peruvian regulations and will enable local operator partners to manage their entire product suite. The Peru B2B license for 7777 gaming is under its Gaming Innovation OOD company entity, registered by MINCETUR under license number PSV0208.
Elena Shaterova, Chief Commercial Officer at 7777 gaming, stated: “7777 gaming has a proven start of successful offerings in Latin American markets, and we are thrilled to be fully prepared and ready to provide our services immediately in the regulated Peruvian online market.”
“Peru holds great potential as a market, and we are eager to support our partners in launching competitive online game content. Our portfolio of premium games will provide an enjoyable experience for Peruvian players.” added Shaterova.
7777 gaming has already received positive feedback from several of the biggest operators and platform providers in the Peruvian market and is currently working to integrate its games with Kaizen Gaming, Betsson, bet365, Apuesta Total, VirtualSoft, UniversalSoft, and others.
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Gambling in the USA

MGM Resorts International Announces Agreement to Acquire Tipico’s U.S. Sportsbook

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MGM Resorts International (NYSE: MGM) (“MGM Resorts” or the “Company”) today announced that its subsidiary, LeoVegas Group (“LeoVegas”), has entered into an agreement to acquire the product and technology platform constituting the U.S sportsbook and online casino from Tipico Group Ltd (“Tipico”).

This acquisition is the second major investment by LeoVegas, following the acquisition of game developer Push Gaming in 2023. The acquisition will allow LeoVegas to operate a purpose-built proprietary sportsbook across all international markets and brands, with the exception of those exclusive to the BetMGM JV, with a focus on a clean, fast consumer experience with top-class product, pricing and functionality.

Tipico will wind down its U.S. operations prior to the closing of the acquisition. As part of the transaction, LeoVegas will acquire certain of Tipico’s U.S. facing management, technology and trading teams across the U.S., Colombia and Europe.

“The acquisition of Tipico’s award winning U.S. platform marks a significant milestone in the strategic development of MGM Resorts’ global digital gaming business, allowing us to operate a proprietary sports betting platform,” said Gary Fritz, President, MGM Resorts International Interactive, “This acquisition gives us control of our entire technology ecosystem, and we are delighted to bring Tipico’s U.S. team, with their track record of developing high quality product and pricing capabilities, into our business.”

LeoVegas CEO Gustaf Hagman added: “By controlling our own sportsbook technology, we ensure that we will deliver the world’s greatest iGaming experience to customers across all our markets and brands. Powering our strong brands with a competitive and innovative sports product will enable us to grow and strengthen our sportsbook offering in both new and existing markets. I look forward to welcoming the talented teams from Tipico’s U.S. business into the LeoVegas Group very soon.”

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The transaction is subject to customary closing conditions and is expected to be completed in the third quarter of 2024.

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