Latest News
MOTORSPORT TECHNOLOGY PIONEERS GRIIIP SECURES SERIES SEED FUNDING TOWARDS RAPID MARKET EXPANSION
Griiip, the Tel Aviv / Petach Tikva, Israel-based motorsport data technology company, announced the successful conclusion of Series Seed funding. U.S.-based investment firm, Sharp Alpha Advisors is among the leading investors in this round, joining existing strategic investors, including Porsche Ventures, the venture capital division of the iconic sports car manufacturer Porsche. The funding will act as a catalyst to support Griiip’s continued global expansion as the company works to achieve its mission of leading the transformation of motorsport viewer experiences through the application of next generation technology.
Already in action in the world-famous DTM racing series, Griiip’s cloud-based data platform makes real-time racing data available to motorsport fans, media and the gaming ecosystem. This helps attract younger audiences who demand a more immersive and personalized viewing experience of their favorite sports through digital mediums. Griiip’s proprietary ‘RedBox’ hardware collects data from race cars in real-time to a central cloud platform, where it is immediately analyzed to create data-driven products including live production graphics with expert insights, fantasy and sports betting applications and more connected fan engagement platforms.
“We’re very pleased to welcome our new investment partners into the Griiip team, a group who share our vision of transforming the way motorsport series and fans engage with each other through next generation tech,” said Griiip founder and CEO Tamir Plachinsky. “As racing fans ourselves, we know how much demand there is among the motorsport community to bring series and fans closer together, and this first round of funding will help us do precisely that. Griiip technology platforms connects all the players in the motorsport ecosystem through data-driven applications that increase fan engagement, generate new monetization opportunities for series and teams that have not been available until now.
Plachinsky goes on to add that “the sports tech market has grown rapidly in recent years, particularly in the areas of sports data infrastructure, intelligent visualization capabilities, computer vision-powered data collection, mobile fan engagement, and fantasy games and sports betting. While the global motorsport industry is rooted in technology, the viewing experience and fan engagement platforms have fallen behind other sports such as football, basketball, baseball, and American football. Griiip makes the motorsport ecosystem more accessible for fans by providing innovative ways for racing organizations, leagues, franchises and car manufacturers to engage with, provide value to, and monetize their target audiences through the application of tech hardware and software”. Partnering with the DTM in 2021/22 laid the groundwork for other top tier racing leagues to collaborate with Griiip.
Griiip investor, Sharp Alpha Advisors’ Lloyd Danzig said: “The business of motorsports is growing and evolving more rapidly than ever before, alongside a transformation in online betting and gaming. Griiip leverages data and analytics to enable racing teams, leagues, and media platforms to modernize their infrastructure and compete in an increasingly digital business landscape. There is no company better positioned than Griiip to capitalize on the bridging of the digital and physical worlds of racing.”
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Industry Awards
Casino Guru Awards introduces “iGaming Changemaker of the Year” category
- The Fairest Bonus Policy
- The Fairest General Terms & Conditions
- The Most Impactful Social Responsibility Initiative
- The Best Implementation of Responsible Gambling Tools
- The Most Transparent Casino
- The Most Effective Handling of Complaints
- The Most Ethical Approach to Marketing
- Players’ Choice
- iGaming Changemaker of the Year
- Voice of the People
The post Casino Guru Awards introduces “iGaming Changemaker of the Year” category appeared first on European Gaming Industry News.
EveryMatrix Press Releases
EveryMatrix, BetBlocker and the Responsible Gaming Foundation Malta join forces to translate BetBlocker into Maltese
Supporting safer gambling in Malta is the focus of a new partnership between EveryMatrix, BetBlocker and the Responsible Gaming Foundation. The collaboration will see BetBlocker expand its services to include a Maltese version of its award-winning blocking software.
This project is launched as part of European Safer Gambling Week 2024 to provide both an additional tool to support Maltese players looking to manage their access to gambling and to raise the profile of the free, anonymous to use, service BetBlocker provides within one of the key international hubs for the igaming industry.
Duncan Garvie, Founder and Trustee for BetBlocker, said: “One of the biggest challenges for BetBlocker is ensuring that a technologically complex app is as simple as possible for users to set-up. Currently, BetBlocker can take a user from download to blocked in under 2 minutes.
But that is only the case where the user finds the set-up instructions easy to engage with.
“Where a user is able to access BetBlocker in the language that they are most confident in, the chances of them converting to an active block is far higher.
“We’re really grateful to EveryMatrix and the RGF for their partnership on this project. It significantly improves the options for Maltese players and will go a long way in terms of raising awareness of the support that BetBlocker offers amongst MGA licensees.
“We hope that in the future, the MGA will advance their player protection standards with the inclusion of requirement for licensees to signpost blocking software to ensure players are aware of this option.”
Jake Cachia, Head of Compliance, EveryMatrix, added: “We’re delighted to be able to support BetBlocker and the RGF with this important initiative in Malta, particularly in time for Safer Gambling Week.
“EveryMatrix is proud of its commitment to safer gambling and player protection while producing market leading gaming solutions, and partnerships such as underlining how crucial it is to keep making a difference.”
Kevin O’Neill, General Manager for the Responsible Gaming Foundation, shared these thoughts on the project: “The Responsible Gaming Foundation is proud to collaborate with BetBlocker and Everymatrix on this initiative, furthering our mission to support safer gambling practices in Malta.
Translating BetBlocker into Maltese is a significant step towards accessibility and inclusivity, ensuring that players can effectively manage their gambling habits in their native language.
This project demonstrates the power of partnerships in enhancing player protection and underscores the importance of providing players with tools that promote responsible decision-making. As we launch this initiative during European Safer Gambling Week 2024, we remain committed to contributing to an environment where innovative solutions, such as BetBlocker, can meaningfully impact safeguarding our community.”
The post EveryMatrix, BetBlocker and the Responsible Gaming Foundation Malta join forces to translate BetBlocker into Maltese appeared first on European Gaming Industry News.
Latest News
Vixio Releases Player Protection Outlook 2024
Vixio report provides overview of global regulatory trends in Player Protection including the use of AI, affordability checks, AML, advertising, and more
During this week’s Safer Gambling Week, Vixio, a leading provider of regulatory intelligence solutions, has released its Player Protection Outlook, reviewing the key regulatory updates, insights and trends in player protection and responsible gambling.
With increasing pressure from regulators and other policymakers to address gambling-related social harms, player protection has come to the forefront of regulatory initiatives in the global online gambling industry. Furthermore, technological advancements and AI-powered tools have enabled new options for player monitoring. The report comes during Safer Gambling Week, an industry initiative that promotes safer gambling in the UK and Ireland.
“The sharpening policy focus on issues of player protection unites major jurisdictions worldwide, with lawmakers, regulators and the industry alike seeking to mitigate negative impacts of gambling and leverage new technologies but not always agreeing on the most appropriate ways of doing so,” said James Kilsby, Chief Analyst, Vixio GamblingCompliance. “Through 2025 and beyond, we expect to see policy approaches to affordability, operators’ duty of care and other concepts continue to evolve in Europe, North America and in other global markets.”
Artificial intelligence (AI) has been a hot topic for player protection as it offers the ability to help monitor and rapidly analyse player behaviour, and could be used for chat assistance through large language models (LLMs). For more information on the use of AI in gambling regulation, see the Vixio Artificial Intelligence Outlook, which covers the key global regulatory developments regarding AI and applications for consumer protection.
Another area of policy attention in player protection is around affordability checks, also known as financial risk or vulnerability checks, which involves operators checking players’ financial information to understand if they can afford their gambling.
As highlighted by the report, jurisdictions with significant pending legislation around player protection include Australia, Argentina, Colombia, Croatia, Finland, Latvia, Spain, the UK, and the U.S. In Europe, countries like the UK, Germany, Italy, Spain, Sweden, Denmark and Norway already have wide ranging player protection provisions within their established regulations.
This report is part of Vixio GamblingCompliance’s Outlook series, which provides subscribers with forward-looking insights, data analysis and consolidated research on key segments of the global gambling industry.
The post Vixio Releases Player Protection Outlook 2024 appeared first on European Gaming Industry News.
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