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Sweden has failed to protect the vulnerable players

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The Ministry of Finance has proposed that the temporary restrictions on the online gambling market, that were introduced on July 2 this year, should be extended to June 30, 2021. The proposed restrictions are a weekly deposit limit of a maximum of SEK 5,000 and that bonus offers are limited to a maximum of 100 SEK.

The Ministry of Finance claimed during the spring that the gaming on online casino was strongly increasing during the pandemic and that the government needed to protect the Swedish consumers.

The minister stated that there where an increase in problem gaming during the spring, but that statement was not based on facts. Neither The Swedish Gambling Authority nor other authorities did see that as a fact.

 

Scientific studies

This is also something that later on was proofed by scientific studies conducted.  https://www.frontiersin.org/articles/10.3389/fpubh.2020.554542/full

“Results:  Total gambling activity decreased by 13.29% during the first phase of the outbreak compared to forecast. Analyses of online gambling data revealed that although betting decreased substantially in synchrony with a slight increase in online casino gambling, there was no increase in likely problematic, high-intensity gambling and neither did total online gambling increase.

Conclusions: This first, preliminary study revealed no increase in Swedish gambling activity, total or specifically online, in the first phase of the covid-19 outbreak. Future research should examine whether pandemic-induced transitioning between gambling modalities and/or increased participation in gambling, leads to long-term effects on prevalence of problem gambling.”

 

Moving to the unlicensed market

Setting a deposit limit of 5,000 SEK per week does not solve the need to help people who have a gambling problem as it is always possible to gamble at different companies. Alternatively, you can play at the unlicensed companies. The effects will instead be that the individual gaming companies cannot follow the individual players’ behaviour and, if necessary, support it.

 

7 out of 10

It is an extremely worrying development in Sweden that 7 out of 10 of those who seek help for gambling problems have banned themselves from playing breaks and still continue to play. The idea of a game break is good, but there is a lack of power against the unlicensed gaming companies that target Swedish players and then the problems remain. A first step in resolving this is to prevent the possibility of paying with a number of well-known Swedish payment services at the unlicensed gaming companies. We have to close the holes! (https://www.spelfriheten.se/ Pelretin, organization for gambling addiction.)

This means that the blocking service Spelpaus (Spelpaus enables Swedish gamblers to paus them from all gambling on licensed operators https://www.spelpaus.se/ ) does not fulfil any major function as long as a number of different gaming companies without a Swedish gaming license are allowed to flourish freely. Several help seekers have also told us that these gaming companies provide the opportunity to pay with a number of well-known Swedish payment services

 

Lack of tax revenue

In 2019, the licensed companies in Sweden paid SEK 3.6 billion to the Treasury. An amount that is now steadily declining in step with the shift to the unlicensed companies.

 

Focusing on those who try to behave

No unlicensed company or person linked to unlicensed gaming activities has been fined or prosecuted since 1 January 2019, at the same time 26 fines have been issued for a total of 236.4 MSEK against the licensed gaming market.

The government’s mission should be to protect consumers and that should be their priority. On the contrary, the effects have been that they have shifted vulnerable players to the unlicensed companies. Sweden has failed to protect the vulnerable players and the extended regulations will not protect them.

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EGT Digital signs sponsorship deal with CSKA Sofia

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The supplier says the partnership supports the club and aligns with its growing focus on sports betting via its Sportsbook platform.

EGT Digital has signed a sponsorship partnership with Bulgarian football club CSKA Sofia, with the companies positioning the deal as a long-term collaboration.

“Sport has the unique ability to unite communities, inspire future generations, and create opportunities for personal growth,” said Vladimir Dokov, CEO of EGT Digital. “Our partnership with CSKA Sofia reflects our long-term commitment to supporting initiatives that have a meaningful impact. We are proud to stand behind a club with such a rich history and strong dedication to developing talent.”

Vangel Vangelov, CEO of CSKA, said: “Partnering with an internationally recognized brand like EGT Digital is a strategic opportunity that will support CSKA’s continued development and help us achieve our long-term objectives. It is also a testament to the club’s importance in society and its role as a true social phenomenon. We are delighted to welcome EGT Digital as a partner that shares our vision for a sustainable, long-term collaboration in support of such a socially significant sector as sport.”

EGT Digital also tied the sponsorship to its sportsbook business, citing its Sportsbook platform as part of the company’s growing presence in the sports sector. The supplier said the product is designed for operators and offers technology-led features, coverage and customization options.

Financial terms, contract length, and sponsorship asset details were not disclosed.

The post EGT Digital signs sponsorship deal with CSKA Sofia appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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Elections, Bitcoin, and the Australian Open: Slotegrator breaks down prediction markets in new ebook

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Annual trading volume in the prediction market vertical grew from $500 million to $64 billion in only three years. What’s behind their explosive popularity? In a new ebook, Slotegrator lays out why this latest evolution in betting has so much appeal for players and what operators need to consider before launching their own prediction market.

Why have prediction markets captured so much attention? In a new downloadable ebook, Slotegrator lays out the factors behind the vertical’s popularity, analyzes how prediction markets are disrupting the modern betting landscape, and provides a checklist to help readers decide if
the time is right for them to add a prediction market to their platform.

In the ebook, Slotegrator highlights generational shifts in preferences and behavior, such as the increase in younger players who are familiar with trading and financial markets, as one of the main drivers in the rise of the format. There’s also a widespread change in values; players view the P2P exchange mechanic, in particular, as a more transparent form of betting than wagering against the house.

“Today, the audience’s attention shifts in real time across platforms, and digital experiences evolve constantly. If you’re not actively tracking where engagement is moving, you’re not just behind the trend — you’re already losing relevance in the market,” comments Olga Ivanchik, COO of Slotegrator.

Opinion-based betting allows users to trade literally any event from politics to current events. The pursuit of getting a more interactive, dynamic, and fair experience is reflected in prediction market mechanics: the odds in this type of betting are not set by the house but fluctuate in accordance with supply and demand — players bet against each other, and the platform generates revenue on commissions based on the amount of bets.

“This transition eliminates the old conflict of interest and gives us a more transparent, equitable, and stimulating experience where value is defined by the market itself”, says Maksym Shtun, Product Owner at Slotegrator.

The report provides analytics with key figures, regulatory notes, expert comments, and an explanation of the mechanics involve. It also includes useful tips for readers:

  • A checklist that will help operators understand whether they need prediction markets on
    their platform
  • Tips and recommendations on the events for betting by region
  • Comparison of prediction market mechanics with classic sportsbooks
  • Analysis of relevant psychological factors
  • Breakdown of how exactly how prediction markets generate revenue

Download the guide and get a full understanding of the prediction market phenomenon. Be among the first operators to make the most of the quickest growing opportunity in iGaming.

ABOUT THE COMPANY

Since 2012, Slotegrator has been one of the iGaming industry’s leading software and business solution providers for online casino and sportsbook operators.

The company’s main focus is software development and support for online casino platforms, as well as the integration of game content and payment systems.

The company works with licensed game developers and offers a vast portfolio of casino content: slots, live casino games, poker, virtual sports, table games, lotteries, casual games, and data feeds for betting.

Slotegrator also provides consulting services in gambling license acquisition and business incorporation.

The post Elections, Bitcoin, and the Australian Open: Slotegrator breaks down prediction markets in new ebook appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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Elections, Bitcoin, and the Australian Open: Slotegrator breaks down prediction markets in new ebook

Published

on

elections,-bitcoin,-and-the-australian-open:-slotegrator-breaks-down-prediction-markets-in-new-ebook

Annual trading volume in the prediction market vertical grew from $500 million to $64 billion in only three years. What’s behind their explosive popularity? In a new ebook, Slotegrator lays out why this latest evolution in betting has so much appeal for players and what operators need to consider before launching their own prediction market.

Why have prediction markets captured so much attention? In a new downloadable ebook, Slotegrator lays out the factors behind the vertical’s popularity, analyzes how prediction markets are disrupting the modern betting landscape, and provides a checklist to help readers decide if
the time is right for them to add a prediction market to their platform.

In the ebook, Slotegrator highlights generational shifts in preferences and behavior, such as the increase in younger players who are familiar with trading and financial markets, as one of the main drivers in the rise of the format. There’s also a widespread change in values; players view the P2P exchange mechanic, in particular, as a more transparent form of betting than wagering against the house.

“Today, the audience’s attention shifts in real time across platforms, and digital experiences evolve constantly. If you’re not actively tracking where engagement is moving, you’re not just behind the trend — you’re already losing relevance in the market,” comments Olga Ivanchik, COO of Slotegrator.

Opinion-based betting allows users to trade literally any event from politics to current events. The pursuit of getting a more interactive, dynamic, and fair experience is reflected in prediction market mechanics: the odds in this type of betting are not set by the house but fluctuate in accordance with supply and demand — players bet against each other, and the platform generates revenue on commissions based on the amount of bets.

“This transition eliminates the old conflict of interest and gives us a more transparent, equitable, and stimulating experience where value is defined by the market itself”, says Maksym Shtun, Product Owner at Slotegrator.

The report provides analytics with key figures, regulatory notes, expert comments, and an explanation of the mechanics involve. It also includes useful tips for readers:

  • A checklist that will help operators understand whether they need prediction markets on
    their platform
  • Tips and recommendations on the events for betting by region
  • Comparison of prediction market mechanics with classic sportsbooks
  • Analysis of relevant psychological factors
  • Breakdown of how exactly how prediction markets generate revenue

Download the guide and get a full understanding of the prediction market phenomenon. Be among the first operators to make the most of the quickest growing opportunity in iGaming.

ABOUT THE COMPANY

Since 2012, Slotegrator has been one of the iGaming industry’s leading software and business solution providers for online casino and sportsbook operators.

The company’s main focus is software development and support for online casino platforms, as well as the integration of game content and payment systems.

The company works with licensed game developers and offers a vast portfolio of casino content: slots, live casino games, poker, virtual sports, table games, lotteries, casual games, and data feeds for betting.

Slotegrator also provides consulting services in gambling license acquisition and business incorporation.

The post Elections, Bitcoin, and the Australian Open: Slotegrator breaks down prediction markets in new ebook appeared first on Americas iGaming & Sports Betting News.

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