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PROPHET EXCHANGE TRADES ONE MILLION DOLLARS IN MATCHED BETS ON THE SUPER BOWL

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Prophet Exchange’s launch six months ago in New Jersey was the first step in revolutionizing the sports betting experience in the U.S. After completing their first football season as a business, Prophet Exchange reported its biggest day for America’s biggest game.

Prophet Exchange—the first fully regulated, high frequency betting exchange of its kind in the United States— had over one million dollars in matched bets on their platform for Super Bowl LVII between the Philadelphia Eagles and Kansas City Chiefs, a monumental milestone for the betting exchange that is only live in New Jersey. With this type of volume, Prophet Exchange offered consistent 1-2 cent lines for straight bets on the main markets: spreads, totals, and moneylines. However, they also took it one step further by offering best–in-state prices on over 30 Super Bowl props as well as props in NJ specifically unique to Prophet.. For example, you were able to get +100 odds on the coin toss, and you were also able to bet on outcomes “not” to occur: Miles Sanders not to score a touchdown, the Gatorade color to not be blue, and many others. The props saw roughly 35% of the action placed on the exchange.

This event caps off an impressive first season in business in which Prophet Exchange acquired thousands of users in the Garden State and maintained an extraordinarily strong 85% retention rate week-over-week.

Prophet Exchange followed through on their promise of offering bettors a superior alternative to existing U.S. operators in New Jersey. During the 2022 football season, Prophet Exchange bettors saw 10-20% greater returns than they would have on the No. 1 sportsbook in New Jersey.

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Prophet Exchange acts as an intermediary while taking on no risk, allowing users to set prices or place bets on prices already set by other users. Prophet Exchange does not add margin or vig to its odds and sets no limits to wagers, so as long as customers have a counterparty to match their bet.

“The Super Bowl was a perfect use case for why the exchange will be the predominant method to place straight wagers in the future. With $1M worth of volume on the event, we saw 1-2 cent straddles on the moneyline for all of Sunday, while the majority of the action came from users who requested their desired price,” said Prophet Exchange Co-Founder and CEO, Dean Sisun. “From additional deposit methods, to live betting, to increased liquidity, we have gotten a lot of feedback from users that signaled to us a need for change. However, even without these changes implemented for the Super Bowl, we saw the exchange come to life, and that tells a story that should not be ignored.”

Prophet Exchange launched in New Jersey in August 2022 and made an immediate impact by offering customers better prices on every team throughout the entirety of the football season.

“Everything that happened on Super Bowl Sunday is a testament to the hard work and dedication of our small team here in New Jersey and globally. We would not be here without the focus and dedication of building the best sports betting product there is” says Prophet Exchange Co-Founder and COO Jake Benzaquen. After a historic Super Bowl in the early company history, Prophet Exchange will look to carry the momentum into March Madness and beyond. Significant improvements are coming to the platform that will continue to refine the best sports betting experience in New Jersey. The best odds in New Jersey await.

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Canada

Play’n GO announces partnership with Canadian operator Loto-Québec

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Play’n GO, the world’s leading casino entertainment provider, has today announced a partnership with Canadian operator Loto-Québec, launching the Swedish gaming giant’s games into another Canadian province.

Already active in another Canadian province , this partnership sees Play’n GO’s content available in the province of Québec exclusively with Loto-Québec, a state-owned corporation, where online players now have access to titles such as Tome of Madness. 

Magnus Olsson, Chief Commercial Officer, Play’n GO said: “At Play’n GO, we have always been clear in our vision to be active in every regulated market in the world, and this partnership with Loto-Québec is the next step on that journey.

“Our past success in Canada gives us confidence that players in Québec will enjoy the best Play’n GO content, and we look forward to many years of success with Loto-Québec in the province.”

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Stéphane Martel, Head of Product and Innovation at Loto-Québec added: “As the sole iGaming operator in Québec, we pride ourselves on offering titles that truly add value to our platform, lotoquebec.com. We are happy to bring Play’n GO games to our players.”

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Canada

Court Decision Upholds iGaming Ontario’s Model

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iGaming Ontario has welcomed the decision of the Ontario Superior Court, which found that iGaming Ontario’s model is consistent with the Criminal Code and that iGaming Ontario is conducting and managing igaming in the province.

“We have always been confident in our model and are pleased that the court has ruled in our favour, and that Ontarians can continue to play with confidence in our regulated igaming market,” said Martha Otton, Executive Director of iGaming Ontario.

“Ontario’s model meets the requirements and contributes to the public good by protecting players, their data and their funds, while helping to fund priority public services in Ontario, and bringing well-paid, high-tech jobs and economic development to Ontario,” Otton added.

In dismissing the application brought forward by the Mohawk Council of Kahnawà:ke (MCK), the Superior Court found that iGaming Ontario is the “operating mind” behind Ontario’s competitive igaming market in accordance with the conduct and manage requirements of the Criminal Code.

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iGaming Ontario will continue to conduct and manage igaming as it has since the launch of the regulated market on April 4, 2022.

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Bragg Gaming Group

Bragg Gaming Appoints Renowned iGaming Executive Neill Whyte as Chief Commercial Officer

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Bragg Gaming Group, a global iGaming technology and content provider, announced that Neill Whyte has been appointed as Chief Commercial Officer (CCO), effective 1st May 2024, establishing a new global commercial structure at the Company and bolstering its leadership team.

Whyte brings over 18 years of experience in the iGaming sector, most recently in the role of Chief Commercial Officer at Digital Gaming Corporation’s (DGC), B2B iGaming Division. After joining DGC in early 2020, he was responsible for the commercially successful launch and growth of its content distribution business in the US.

Prior to joining DGC, Whyte held multiple positions in the gaming industry including as Head of Business Development at Isle of Man-based iGaming specialist Apricot Investments, as Board Member at Swedish iGaming product and Lottery content distributor Genera Networks, and in various senior roles over eleven years at leading iGaming content supplier Microgaming, including as Head of Product Channels.

In his new role with Bragg, Whyte will be tasked with leading the Company’s global commercial teams to drive growth across all of the Company’s product verticals which include proprietary online casino content from its Atomic Slot Lab, Indigo Magic and Wild Streak Gaming studios, exclusive content from content partners, HUB a leading casino content aggregation platform, Fuze player engagement, as well as its award-winning player account management (PAM) platform and turnkey solutions.

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Matevž Mazij, Chief Executive Officer at Bragg, said: “I am very pleased to be announcing today the appointment of Neill Whyte as Chief Commercial Officer at Bragg. His iGaming product and market knowledge, together with his record in driving growth from developing successful and mutually beneficial commercial partnerships are exceptional.

“As we leverage our broad content and product portfolio to grow in existing and new markets, including in the United States, Canada, Latin America and Europe, Neill’s unique combination of knowledge, skills and experience in this sector are a perfect fit for our ambitions at Bragg.”

Neill Whyte, Chief Commercial Officer at Bragg, said: “It’s an honor to join Matevž and the wider teams at Bragg already in place across North America, Europe and in India. I have been impressed with the depth and quality of the content, product and technology offerings at Bragg, and its ability to rapidly adapt, certify and deploy this content and technology in newly regulated markets is a distinct advantage.

“We also have a huge opportunity to grow our footprint with our existing customers in markets in which we are already established. Our content and product roadmaps are second to none, and I’m planning to get on the road in the coming weeks and months to meet the team and our customers and to start building for the next stage of mutual growth. I can’t wait to get going.”

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