Canada
Charlo Barbosa Bets On The Future Of Esports In Smaller Markets
Every year the line gets a little thinner between reality and the virtual world. That is certainly the case when it comes to the growth of Esports worldwide and the commensurate growth in fantasy sports gambling associated with it. For now, such activities are generally allowed worldwide but are not entirely welcomed by the authorities. A lot of what is happening in this space is that a lot of early adopters are hoping to stake their claim on Esports fantasy gambling while it is still in its infancy and then taking it big time once the idea catches on.
One of those early adopters is Charlo Barbosa, who is betting heavily on markets such as India and the Philippines as a way of refining his business model in these now-opening venues. Once everything is running smoothly and the regulatory picture refines itself further, he hopes to capitalize upon his experience by taking his ever-growing Esports empire into the big money markets elsewhere in the world.
Simply put, it is less costly to enter these largely unexplored markets than it would be to jump into the arena against big money operators already entrenched in more established territories. Building up a subscriber base and developing an innovative approach is what Barbosa is banking on in his quest to challenge for a spot at the biggest tables.
While there is plenty of money to be made in the fantasy Esports arena, a lot of players are counting on this leading to bigger things down the road. For now, the regulatory structures are not in place to effectively oversee actual gambling on the blossoming numbers of Esports leagues. Once this hurdle is crossed, however, the fantasy Esports impresarios anticipate that they will be very well-placed to transition right into the expanded opportunities which will be on offer.
Among all the stakeholders, the sense is pretty near universal that this is largely a waiting game for now, especially in markets such as India which does not allow online gambling activities. Fantasy betting is operating in a somewhat gray area legislatively speaking, and the government seems inclined to let this continue while it studies the situation.
Yet the main concern of narrowly-focused Esports companies such as Barbosa’s GoodGamer is that a lot of competitors are stretching the definition of fantasy gambling to where it may become indistinguishable from actual online gambling. This in turn could lead to the proroguing of the entire fantasy gambling space if it were to become a problem or lead to some sort of scandal. Barbosa and many others are quick to point out that they are operating by the book and have no interest in letting the industry devolve into the Wild West.
Their desire is for an orderly and ever-expanding digital footprint that runs an honest game and provides great value for its growing list of subscribers. The truth is that time and demographics are on the side of anybody who gets into the virtual sports industry early.
Traditional sports are gazing in alarm at the increasingly aged demographic of their fans. The next generation seems much more interested in online leagues where they themselves can participate as equals and not merely spectate as someone who is not athletic enough to be on the field.
For Barbosa, the patient nurturing of GoodGamer is merely a small delay in his quest to erect the next great sporting empire. With the youth of today competing via smartphone, it is only a matter of time until his bet on the future begins to pay enormous dividends to the ones with the foresight to see where the future is heading.
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Canada
IAGR announces Toronto as host city for 2025 conference
Hot on the heels of its most attended conference in history, the International Association of Gaming Regulators (IAGR) is excited to announce that its 2025 conference will take place in Toronto, Canada, from October 20 to 23, 2025.
The event will be held in partnership with the Alcohol and Gaming Commission of Ontario (AGCO) at the Westin Harbour Castle, offering stunning waterfront views and a premier, downtown Toronto location.
‘Fresh off the success of our Rome conference, we’re thrilled to continue the momentum with next year’s event in Toronto,’ said Ben Haden, IAGR President.
‘The IAGR 2025 conference promises to be another unparalleled opportunity for our global community to come together, collaborate and shape the future of gaming regulation. We’re looking forward to working with AGCO to bring it all together.’
AGCO CEO and Registrar Dr. Karin Schnarr, added, ‘We’re excited to welcome IAGR and its members to Toronto. This partnership provides a great opportunity to share Ontario’s innovative regulatory practices and foster meaningful discussions that drive positive change in the industry.’
Stay tuned for registration details early next year.
Bombee Global Entertainment Ltd
ESE Entertainment Completes Acquisition of Gaming Production Company, Bombee Americas
ESE Entertainment Inc., a gaming company that provides a range of services to leading video game developers and publishers, has announced that it has acquired Bombee Global Entertainment Ltd. (Bombee Americas), the North American arm of Bombee Event Production AB, (Bombee), a global production company specialized in live production, special effects, broadcast, and event management for the gaming sector.
Bombee has successfully collaborated with ESE to bring its premier event production services and world class customer service to North America and beyond. The North American arm of Bombee, Bombee Americas, will continue to grow and scale in this new organizational structure under ESE, while maintaining its entire team and global support.
Konrad Wasiela, CEO of ESE, said: “Today marks the next stage of ESE—a 2.0 version of our company. With the acquisition of Bombee Americas, we are not only solidifying our presence in North America but also paving the way for growth and innovation in the gaming industry. This is a major step, positioning us to deliver even greater value to our partners and elevate the gaming experience for our clients globally. We’re thrilled about the opportunities ahead and the exceptional talent joining our team.”
Transaction Terms
The Acquisition was completed by way of a share purchase agreement (the SPA) among the Company, Bombee Americas, and the shareholders of Bombee Americas (the Vendors). Pursuant to the SPA, ESE acquired all of the outstanding shares of Bombee Americas in exchange for: (i) $750,000 in cash paid on closing, (ii) $375,000 in cash to be paid six (6) months following closing, subject to customary adjustments based on the working capital of Bombee Americas on closing, (iii) $375,000 in cash to be paid twelve (12) months following closing, and (iv) 30,000,000 common shares of ESE (the Consideration Shares), issued at a deemed issue price of $0.10 per share.
In connection with the Acquisition, the founders of Bombee Americas have signed three-year service agreements and will continue to run the business following the closing, along with the rest of the personnel of Bombee Americas who will remain in place, ensuring a smooth transition of operations. As part of the Acquisition, the Company has acquired the liabilities of Bombee Americas, mainly consisting of customary current obligations incurred in the ordinary course of business for Bombee Americas, which are not expected to have a material impact on the Company’s operations or financial position.
No finder’s fees were paid or payable in conjunction with the Acquisition.
The Acquisition was an arm’s length transaction within the meaning of the policies of the TSX Venture Exchange (the Exchange) and constituted an “Expedited Acquisition” in accordance with Exchange Policy 5.3 – Acquisitions and Dispositions of Non-Cash Assets. The Acquisition remains subject to the final approval of the Exchange.
Canada
Suspected Digital Fraud Coming from Canada Up Nearly 11% Since H1 2023, Reveals New TransUnion Analysis
In the first half (H1) of 2024, Canada saw a significant increase in suspected Digital Fraud attempts, with nearly 5.74% of all attempted digital transactions where the consumer was located in Canada involving suspected Digital Fraud, revealed a new TransUnion® (NYSE: TRU) analysis. This is nearly an 11% year-over-year (YoY) rate increase from H1 2023, and TransUnion also documented an 11% increase in the volume of suspected Digital Fraud from Canada during this period, despite a less than a one percent (0.7%) YoY increase in the volume of transactions.
According to a recent TransUnion survey,1 more than half (54%) of Canadians said they were recently targeted by email, phone call or text message fraud attempts. Phishing was the most common scheme type (45%), followed by smishing (42%) and vishing (39%).
The increasing use of digital transactions, combined with rising suspected Digital Fraud attempts are also impacting businesses as they potentially face revenue losses and increased operational costs due to fraud. According to a TransUnion business survey for the H2 2024 Update to the State of Omnichannel Fraud report, 200 Canadian business leaders said their companies lost approximately 6% of equivalent revenue – representing $78 billion – over the past year due to fraud. The most prominent causes of fraud loss cited by them were:
- Scam/Authorized fraud (31%): Dishonest scheme intended to trick a person into giving up something of value (e.g., account access, money, information)
- Account takeover (19%): Unauthorized individuals taking over someone’s online account (e.g., bank, social media, email) without their permission
- Synthetic identity fraud (18%): Use of a combination of personal information to fabricate a person or entity to commit a dishonest act for financial or personal gain
TransUnion also found that suspected Digital Fraud attempts – where the consumer was transacting in Canada and targeted businesses globally – increased on average by 10.5% YoY in H1 2024 compared to H1 2023 and impacted all industries.
Top Three Industries Globally with Highest Rate of Suspected Digital Fraud Attempts Coming from Canada in H1 2024
- Gambling (online sports betting, poker, etc.) – 9.6%
- Retail – 9.2%
- Government – 7.7%
Top Three Industries Globally with Highest YoY Increase (H1 2024 vs H1 2023) in the Rate of Suspected Digital Fraud Attempts Coming from Canada
- Logistics – 172.9%
- Gambling – 79.3%
- Video gaming – 67.8%
“Protecting customers and their businesses from fraud is essential to enabling safe and tailored consumer experiences. These findings reveal that despite the good-faith efforts that are being undertaken by companies to identify and prevent fraud to date, fraudsters continue to evolve and it’s vital that fraud prevention methods keep up with the changing times,” said Patrick Boudreau, head of identity management and fraud solutions at TransUnion Canada.
“Businesses that aren’t already doing so should ensure that they are taking advantage of fraud prevention technologies such as identity verification, IP intelligence, device reputation and synthetic identity detection as critical components of their fraud prevention programs,” he added.
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