Latest News

Former Pinnacle CEO Paris Smith Joins Rithmm as an Advisor

Published

2 months ago

August 9, 2024

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Rithmm, the MIT-originated predictive analytics sports betting application, announced former Pinnacle CEO Paris Smith as the latest advisor of the company. Smith’s appointment to the company’s advisory board, and subsequent investment, further cements the company’s position as the best-in-class projection technology making personalized predictive sports betting models and advanced data accessible to all types of sports bettors to drive confident betting decisions.

“We are thrilled to welcome Paris Smith as an advisor to Rithmm. Paris’s unparalleled expertise and visionary leadership in the sports betting industry honed over her years at Pinnacle Sportsbook, will be invaluable as we continue to innovate and grow. Her strategic insights and deep understanding of the market align perfectly with our mission to empower bettors through cutting-edge predictive analytics. We look forward to her contributions in shaping the future of Rithmm and delivering even greater value to our users,” said CEO and Co-Founder Megan Lanham.

Smith stepped down from the global sportsbook in 2023 and has focused her efforts on advising and investing in emerging sports betting technologies.

“What Rithmm is doing is unlike anything else in the market and I was drawn to their unique value proposition as a tool for both novice and sharp bettors alike. I’m excited to lend my expertise, experience, and network to their team as they prepare for a big football season,” Smith said.

European Gaming Congress 2024 (Warsaw, Poland)

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Gambling in the USA

Gaming Executives Positive on Current Business Conditions, Cautious on Future Growth Expectations

Published

56 mins ago

October 1, 2024

GamingAmericas.com

gaming-executives-positive-on-current-business-conditions,-cautious-on-future-growth-expectations

Overall Balance Sheet Health, Access to Credit Continue to Improve

In the face of slowing revenue expansion, gaming industry leaders continue to hold an overall positive view of the current business situation, with a notable improvement in credit conditions, according to the latest American Gaming Association (AGA) Gaming Industry Outlook.

The majority of respondents (88%) view the current state of the gaming industry as either good or satisfactory. Meanwhile, executives have a more conservative outlook on future business conditions, with respondents split on whether they expect conditions to improve over the next three-to-six months (3% net positive) and many expecting a decrease in customer activity (28% net negative).

“After years of very strong consumer gaming spending growth, expectations around customer activity over the next three to six months have cooled considerably,” said AGA Vice President of Research David Forman. “Still, gaming businesses remain well positioned, with executives touting strong balance sheets and more viewing access to credit as easy than restrictive for the first time in two years.”

Gaming Executive Panel

Since Q1, gaming executives’ sentiment has shifted, with a greater number of respondents now expecting a decline in customer activity over the next three to six months (28% net negative, up from 4% net negative in Q1). Despite this, panelists foresee improvements in overall balance sheet health (34% net positive).

Additionally, more executives reported access to credit as easy (19%) rather than restrictive (3%) for the first time in two years, and fewer cite interest rates as a major limiting factor than in the spring.

Hotel (56%) and food and beverage facilities (56%) continue to be the main and growing focus of capital investment among operators, followed by live entertainment (28%) and casino floor slots (22%).

Meanwhile, gaming equipment suppliers now believe their pace of capital investment and game sales will decelerate (13% net negative).

These expectations are impacted by evolving macroeconomic challenges, with uncertainty of the economic environment vaulting to the top of executive concerns (56%, up from 34% in Q1), followed by state regulatory concerns (31%), and inflationary or interest rate concerns and geopolitical risk (both 34%).

The Current Conditions Index

The Current Conditions Index for Q3 2024 was 97.3, which is consistent with real annualized contraction of 2.7 percent. The Current Conditions Index measures real economic activity in the industry, as measured by gaming revenue, employment and employee wages and salaries.

The Future Conditions Index

The Future Conditions Index, a leading indicator of changes in industry conditions, measured 98.9 in Q3. This indicates an environment in which real economic activity in the gaming sector, after controlling for underlying inflation, is expected to moderately decrease over the next six months (1.1% annualized rate).

FairPlay Sports Media

ODDSCHECKER+ LAUNCHES IN US, GIVING CONSUMERS ACCESS TO MARKET-LEADING AI PREDICTION TOOLS

Published

5 hours ago

October 1, 2024

GamingAmericas.com

oddschecker+-launches-in-us,-giving-consumers-access-to-market-leading-ai-prediction-tools

FairPlay Sports Media brand and leading global odds comparison site oddschecker has launched its US-first subscription service oddschecker+, which will provide its rapidly growing US customer base with state-of-the-art betting and insight tools to help them level the playing field with their chosen sportsbooks.

Included in both the app and browser versions of the oddschecker+ service will be access to Positive Value Bets, an AI-powered tool that performs over 100 million odds projections each week to highlight prices where the probability of winning is greater than the real-time line suggests.

The first three weeks of the NFL season have already demonstrated the Positive Value Bets tool’s path to profit, with a +20% ROI on recommended moneyline bets, +9% against the spread with a 56% win rate, and +17% return (61% win rate) on total lines. The yields are even more impressive on underdog bets and those with +100 or higher odds, with the positive EV service returning +29% on moneyline bets, +26% on spread bets, and +21% on totals.

Oddschecker+ will also feature Public Betting Splits where subscribers can see the weight of money on sporting events and the type of bettor taking certain positions.

Both these tools will showcase the best odds available from all major US sportsbooks across major sports, including NFL, college football, MLB, and WNBA, while the services’ seamless betslip functionality allows users to add bets and personalize parlays before linking out to the best value sportsbook.

The launch leverages the tech integrations that came with FairPlay Sports Media’s acquisition of AI betting pioneers Quarter4 earlier in 2024, with this collaboration with oddschecker demonstrating the deeply integrated AI capabilities of all FairPlay brands around the world.

Stuart Simms, Group CEO at FairPlay Sports Media, commented on the launch: “The average US bettor takes their data and insight far more seriously than many more established sports betting markets, and we want to give them the tools to take on their chosen sportsbooks, giving them the best chance of finding more value, more often.

“The search for positive expected value is common parlance across the US, although every tipster has their own way of seeking it out. With oddschecker+ and its tools such as Positive Value Bets, we’re democratising this process, giving customers access to our unrivalled AI capabilities that translate millions of odds projections each day into valuable betting knowledge that levels the playing field between the sportsbook and the consumer.”

Latest News

GR8 Tech at SBC Summit Lisbon 2024: Record Engagement, Silver Award Win, and Global Insights

Published

7 hours ago

October 1, 2024

George Miller

gr8-tech-at-sbc-summit-lisbon-2024:-record-engagement,-silver-award-win,-and-global-insights

Reading Time: 2 minutes

At SBC Summit Lisbon 2024, the GR8 Tech booth buzzed with constant activity, as hundreds of industry professionals stopped by to explore our cutting-edge iGaming solutions. From live demos to in-depth discussions of specific cases, visitors saw firsthand how GR8 Tech’s technology empowers operators to elevate their businesses. GR8 Tech’s sales team held over 80 meetings, leading to 20 strong prospects—a result that clearly underscores the effectiveness of the team’s efforts and the strong interest in GR8 Tech’s offerings.

“Over the past year, we refined our offerings for the market and arrived at SBC Lisbon with a clear vision of the value we provide to potential clients. Our focus was evident in the increased number of meetings and leads at our booth. As a result, I believe we are on track to secure numerous new contracts,” said Evgen Belousov, GR8 Tech CEO.

GR8 Tech also got recognition at the SBC Awards, scoring Silver as the Best Platform Provider of the Year. It demonstrated the company’s commitment to advancing the iGaming industry with top-of-the-line software solutions and services.

Yevhen Krazhan, CBDO, added: “The strong engagement we saw at SBC 2024 shows our message is resonating. As we establish ourselves as a top provider of the high-performance Sportsbook and iGaming platform, we’re attracting the right audience eager to learn more.”

GR8 Tech Emphasizes Geo-Specific Innovation and Player-Focused Strategies

At the summit, GR8 Tech highlighted the importance of tailoring solutions to specific market and client needs. During a compelling fireside chat on the SBC Superstage, GR8 Tech CEO Evgen Belousov and Paris Anatolitis, CEO of Moja Group, presented an exclusive case study titled “Getting Geo-Specific in Africa: Tailoring Tech for Success.”

The session showcased how GR8 Tech’s geo-specific solutions tackle the challenges of the African market, helping operators like Mojabet acquire and retain players. A standout example was the custom-designed lightweight frontend, which cut Mojabet’s load times from over 10 seconds to 1.5 seconds, boosting user experience and engagement. The discussion also explored how GR8 Tech’s geo-specific solutions helped operators in various regions worldwide, leaving attendees with valuable insights of how tailored technology can drive success in the iGaming industry.

Vlad Andrusenko, GR8 Tech’s Head of Product (Sport), participated in the dynamic panel discussion, “Average Joe… The Sportsbook Experience for Recreational Customers.” Andrusenko took a practical, product-focused approach, sharing insights based on real user research conducted on the GR8 Tech platform. He highlighted how sportsbooks are adapting products, risk management, and market pricing to meet the needs of value-conscious customers, emphasizing new ways operators are keeping casual bettors engaged through a personalized, user-friendly experience.

Expanding Global Reach with Strategic Engagements and Upcoming Events

Reflecting on the success of SBC Summit Lisbon 2024, GR8 Tech is poised to build on the strong connections established during the event. Looking ahead, the company is excited to continue engaging with partners and clients while showcasing its flagship GR8 Sportsbook platform at upcoming global events, including SiGMA Europe from November 11-14.

The post GR8 Tech at SBC Summit Lisbon 2024: Record Engagement, Silver Award Win, and Global Insights appeared first on European Gaming Industry News.