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A Swell of Support Helps Expand the Online Betting Industry
The sports betting market continues to gain popularity among people of all generations, especially as online betting is gradually becoming more mainstream. To illustrate the importance of this segment, data provided by a Zion Market Research report indicates that sports betting holds about 70% of the global gambling revenue, which is more than any other sectors, including those of lotteries, casinos, and poker, among other forms of gambling. As for which sports are the most popular, various games around the world are common among the sport betters, but European football attracts the greatest betting revenue, and is then closely followed by baseball. Of course, it has to be noted that numerous technological developments have helped propel the market to new highs. The stronger presence of online betting has completely transformed the process of sports betting, making it easier, faster and more convenient to place bets. On the other hand, the strict regulations by various governments are still an obstacle for the online market. Nevertheless, according to the report, the global sports betting market was valued at around USD 104.31 Billion in 2017 and is expected to reach approximately USD 155.49 Billion by 2024 while growing at a healthy CAGR of 8.83% between 2018 to 2024. FansUnite Entertainment Inc. (CSE: FANS), GAN Limited (NASDAQ: GAN), Boyd Gaming Corporation (NYSE: BYD), International Game Technology PLC (NYSE: IGT), Scientific Games Corporation (NASDAQ: SGMS)
Despite legal restrictions, regionally and country wise, in 2018 the market had already produced more than USD 48.9 Billion in worldwide revenue and is projected to expand past USD 134.5 Billion by 2027, according to data provided by Transparency Market Research. After the landmark Supreme Court ruling in 2018, in which the court struck down the ban on sports betting, all states got the option to pursue legalization. The state of New Jersey was the first to make sports betting legal. Other states followed, but California remains a legal battle ground for this gambling segment. However, a change might be possible this November. State Senator Bill Dodd (D-Napa) and Assembly Member Adam Gray (D-Merced) have been working on an amendment to the state’s constitution that will go on the ballot in November, if it can get through both houses. “I think the leagues themselves are really the experts when it comes to keeping integrity of the games,” Assembly Member Gray explained in a report by NBC Sports Bay Area. “Obviously, in our proposal we’ve banned any high school sports betting and as we put the finishing details on this over the next few weeks it’s going to be important that those leagues engage with us on those final details to make sure that we have the highest quality product with the highest quality standards. And although they have been a little timid, I know that many out there in the sports world know that the future of the sports economy could be integrally tied to the success of sports wagering, fantasy sports and other activities.
FansUnite Entertainment Inc. (CSE: FANS) and Askott Entertainment Inc. just announced breaking news that two companies, “have entered into a definitive amalgamation agreement (the “Agreement”) to create one of Canada’s leading online gaming companies, focused on sports betting, esports wagering and casino games. Under the terms of the Agreement, FansUnite will acquire all of the outstanding securities of Askott by way of a three-cornered amalgamation (the “Transaction”) pursuant to which Askott and a newly incorporated subsidiary of FansUnite will amalgamate under the Business Corporations Act (British Columbia) and continue as one corporation.
Combined Company Highlights
Expanded Consumer Base. The combined FansUnite and Askott will have four live business-to-consumer (“B2C”) platforms that have generated over CDN$350 million in wagers since inception and will have over 300,000 registered members;
Expanded Business Base. FansUnite and Askott will have four executed business-to-business (“B2B”) contracts, two of which are currently live and generating revenue with leading esports companies;
Expanded Betting Offerings. Two esports themed casino games which will be released on multiple casino games aggregators platforms this year with more games currently in development;
Increased Gaming Licenses: Applications have been completed for gaming licenses for B2C and B2B;
Established History of Operations: Askott has been in business since 2013, working closely with tier 1 partners around the world; and
Highly Accomplished and Experienced Team: The completion of the Transaction will add a team with decades of experience in esports, sports betting, casino, poker, licensing, government relationships and transactions to develop shareholder value.
According to a recent report by Grandview Research1, the global online gambling market size was valued at USD 53.7 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 11.5% from 2020 to 2027.
‘As the online gambling market continues to grow, the amalgamation with Askott is a significant milestone and transforms us into one of Canada’s premier iGaming companies,’ said Darius Eghdami, CEO of FansUnite Entertainment. ‘Combining with Askott provides us with a fully integrated gaming asset that offers multiple B2C platforms for users in a variety of betting offerings, B2B technology that can be licensed to all types of sportsbooks, and a seasoned team of executives that have led and grown multiple organizations on a global scale. This combination creates a leading online igaming company, and positions us strongly for significant growth with new offerings and market opportunities.’
‘We are recognized globally as a leader and pioneer in esports betting technology,’ said Scott Burton, CEO of Askott Entertainment. ‘As an early entrant in the sector we have already had a number of milestones, including, the launch of the first ever daily fantasy site dedicated to esports, the first esports betting site to receive an Isle of Man license gaming license in 2017 and more recently being shortlisted by EGR Magazine for the Esports Betting Supplier of the Year Award. This year, part of our growth strategy was to round out our offering with traditional sports and casinos to make us a complete iGaming solution. Merging with FansUnite accelerates our growth strategy and will bring us the scale and offerings to make our combined group the leading iGaming entity in the Canadian public markets.’…
GAN Limited (NASDAQ: GAN) is a business-to-business supplier of internet gambling software-as-a-service solutions to the U.S. land-based casino industry. The Company has developed a proprietary internet gambling enterprise software system, GameSTACK Boyd Gaming Corporation (NYSE: BYD) and FanDuel Group recently announced the debut of FanDuel Sportsbooks at four Boyd Gaming properties: Blue Chip Casino Hotel and Spa in Michigan City, Indiana; Diamond Jo Casino in Dubuque, Iowa; Diamond Jo Casino in Northwood, Iowa; and Belterra Casino Resort in Florence, Indiana. “Together, Boyd Gaming and FanDuel Group continue to successfully capitalize on the historic opportunity afforded by the legalization and expansion of sports betting in new states across the country,” said Keith Smith, President and Chief Executive Officer of Boyd Gaming. “The FanDuel Sportsbook is off to a great start in Pennsylvania, contributing to solid growth in visitation and profitability at our Valley Forge Casino Resort near Philadelphia. We are confident our partners at FanDuel will deliver excellent results in Iowa and Indiana as well, further expanding Boyd Gaming’s customer base and enhancing our long-term competitive appeal.”
International Game Technology PLC (NYSE: IGT) announced earlier this month that its PlaySports platform will power retail and mobile sports betting at Wild Card Saloon and Sasquatch Casino in Black Hawk, Colo. Owned and operated by privately held gaming company, Ed & Shirley’s Inc., both casinos will leverage IGT PlaySports kiosks, platform and mobile technologies to give their patrons choice and convenience for how, when and where they place sports bets. “Offering omni-channel sports betting via the IGT PlaySports solution will introduce an exciting new dimension of gaming to Wild Card Saloon and Sasquatch Casino that sports fans throughout Colorado are ready to embrace,” said Ed Smith, Ed & Shirley’s Inc. President.
“We’ve leveraged IGT’s expertise and trusted technology to create a sports betting program that gives players choice and convenience for wagering on their favorite teams.”
Scientific Games Corporation (NASDAQ: SGMS) announced earlier in March that it had partnered with Vaix.ai to offer sports bettors personalized recommendations and tailored betting choices through the OpenMarket product suite. Vaix.ai will offer an Artificial Intelligence (AI) model through OpenSports that enhances the sports betting experience. By providing sports, league, team, event, and market recommendations to bettors in real-time, the companies aim to further personalize sports betting through Scientific Games’ OpenMarket solution. OpenMarket is the industry’s first one-stop content marketplace, giving Scientific Games’ partners access to top-tier sports betting intelligence, data feeds and tools without the need for complex integrations and financial agreements. About FinancialBuzz.com
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THE MONEYMAKER TOUR RETURNS TO HARD ROCK CINCINNATI WITH MORE THAN $1 MILLION UP FOR GRABS
Following a hugely successful first event in Cincinnati, Ohio in September 2023, the Moneymaker Tour is returning to the Hard Rock Casino Cincinnati on September 17 – 30, 2024 with a packed schedule that will guarantee more than $1 million across 15 trophy events.
In September 2023’s inaugural stop at Hard Rock Cincinnati, the $1,500 Main Event was contested by 788 players and won by Joseph Bakun for $208,034. He was joined at the final table by Chris Moneymaker himself and WSOP Champion Joseph McKeehen and as well as the top cash prize, he also took home a crystal Moneymaker Tour trophy and a guitar trophy.
The Moneymaker Tour was created in 2023 by 2003 WSOP Champion and ACR Team Pro, Chris Moneymaker and Moneymaker Tour Executive Manager, Tony Burns. The Tour was conceived as a way for Moneymaker to give poker players opportunities to have their own ordinary to extraordinary moments as he did.
Despite its relative newcomer status, the Moneymaker Tour has made a name for itself, recently being voted the third most popular live poker tournament series behind only the World Series of Poker and the World Poker Tour, in a State of Poker survey. Since its inception, there have been eight events throughout Florida, Cincinnati and Houston.
The Tour has also recently announced new venues including a first visit to the birthplace of the Moneymaker boom with an event in Las Vegas from June 28 – July 6 at MGM Grand and its first international Main Event at Casino Aruba in October.
“Hard Rock Casino Cincinnati will team up with the Moneymaker Tour for a return in 2024” said Christopher Herbert, Hard Rock Cincinnati Manger of Poker & Sportsbook. “Hard Rock Cincinnati is grateful to be a part of the fastest growing poker tour in 2023. Chris Moneymaker, Tony Burns and their staff delivered an incredible experience for our guests during the 2023 Moneymaker Tour stop. There’s no better place to be in September 2024 than Cincinnati Ohio!”
“After an amazing series last September, we are excited to return to Hard Rock Casino Cincinnati”, said Tony Burns, Executive Manager of the Moneymaker Tour. “Continuing to partner with one of the most recognisable brands in the world amplifies our reach, resonates with our audience, and rocks our business to a whole other level.”
Here are this weeks latest slots releases compiled by European Gaming
ELA Games is thrilled to announce the release of its latest slot machine game, Big Wave Delight. This new game features an advanced design, original mechanics, and a unique “Bonus Purchase” feature, setting a new standard in the gaming industry. Players can also hit the waves with Free Spins, scoring 10 thrilling spins with random multipliers (up to 10x) on each whirl. With up to 3 Wild Surfboards on every spin, players can expect epic wins!
Habanero, invites players for an icy adventure in its new title Arctic Hunt, offering expanding wilds with multipliers of up to 50x. Set against a snowy forest, this 5×3 game hosts a variety of wildlife such as fish, rabbits, deer and beavers as its symbols. Arctic foxes can also appear as wilds and substitute other icons to help form wins. Regular symbols can land with crystal gems attached which are accumulated in a counter at the top of the board.
Yggdrasil has released Boomerang Games’ (under license to ReelPlay) newest game Goblin’s Bargain MultiMax™, a vault packed with features ready to tempt those looking for the biggest of wins. The glittering gold belonging to the nefarious mythical creatures is under lock and key unless players can make the most of MultiMax. The popular Game Engagement Mechanic (GEM) sees a multiplier build up on each reel which can be multiplied together, leading to exponentially large wins.
R. Franco Digital is inviting players to double their winnings in its latest mythical-themed release, Game of Chronos Unicorn. Immersing players in a fantasy universe, a 5×3 grid is filled with a host of mythical symbols which create matching combinations across the slot’s 40 paylines. Helping to form wins are Witch wilds, which substitute other symbols on the board, while three or more unicorn Scatters pay out an instant reward.
Play’n GO pits Woodrow and Jačova against one another in a race against bolts in Spark of Genius. In this dynamic 6×6 grid slot, players are transported to the dawn of the 20th century, where the clash between industry pioneers Maynard Woodrow and Tess Jačova ignites. Players will harness the power of Resonant Energy and Manifest Energy as these characters vie for dominance over the grid.
Spinomenal has unveiled its hotly anticipated game, Quest to the Underworld. This game is part of the popular Spinomenal Adventure series. Quest to the Underworld lures players in with its macabre setting that’s underscored with a chilling soundtrack. Medium symbols are made up of a vial, crossbow, goblet, and scroll. Two Wild symbols, a glamorous lady and black gear, will substitute for any symbol except the Free Spins and Bonus symbols, hitting five Wild symbols on a winning line gives players a x1000 multiplier.
Yggdrasil and YGG Masters partner Bang Bang Games have combined to deliver thrilling gameplay in toxic new release Mutant Trawlers. Players must navigate a contaminated nuclear lake to fish up wins worth a maximum of 3,000x by way of Trawler Respins, Mutant Cash and Meltdown Free Spins. Trawler respins can be triggered whenever a boat lands on the same reel as a Mutant Cash symbol, automatically igniting a chain of respins where multipliers increase after every successful spin.
Wizard Games is ready to deliver magic and mystery in its enchanted new release, Wynmor’s Tales – The Rise. Players are faced with a 5×4 matrix, situated within an eerie mansion, looking to land mystic items across the slots 40 paylines. If a spellbook lands on the fifth reel, then all Cash Symbols are collected, paying out magical rewards.
Games Global’s exclusive studio OROS Gaming, has unveiled Magnificent Power Wolf Fire Spirit™, its latest slot utilising the popular Magnificent Power mechanic that promises captivating gameplay and 4,096 ways to win on a 5×4 grid. Adorned with bear, eagle and dreamcatcher symbols, this Native American-inspired slot immerses players with every spin of the expanding reels, providing ample opportunity to discover the hidden riches with two or more adjacent high-paying symbols awarding a win.
The post Week 20/2024 slot games releases appeared first on European Gaming Industry News.
Casino Guru, the world’s premier independent online casino resource, proudly announces the launch of its new webinar series, “Safer Gambling Talks.” This innovative series aims to delve into the critical aspects of safer gambling within the industry, addressing jurisdictional nuances and universal consumer protection standards.
“Safer Gambling Talks” is dedicated to fostering a highly responsible gambling environment by engaging with experts and industry leaders. The series will explore various topics, focusing on creating a more sustainable and commercially viable gambling industry that prioritizes player protection.
In the premiere episode, Šimon Vincze, Casino Guru’s Head of Sustainable & Safer Gambling, engages in an insightful discussion with Dr. Margaret Carran, Associate Professor in Law and Associate Dean (Education) at The City Law School of City, University of London. The conversation centers on improving self-exclusion practices within the gambling industry, aiming to enhance player protection across different markets. The episode is available on Casino Guru News YouTube channel.
Šimon Vincze, a staunch advocate for responsible gambling, leads Casino Guru’s efforts in sustainable and safer gambling. He spearheads the Global Self-Exclusion Initiative, driving forward best practices in player protection and operator responsibility. Recognizing gaps in existing tools, Šimon is committed to ensuring a safer gambling environment for all.
The post Casino Guru Launches “Safer Gambling Talks” Webinar Series with Šimon Vincze appeared first on European Gaming Industry News.
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