22 immutable laws of marketing

first_imgBingo AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Nick Garner presents the first of a 24-part series on online marketing Tags: Online Gambling Slot Machines In the first of his series of articles on marketing, Nick Garner introduces the theory behind Reis and Trout’s book The 22 Laws of Marketing.This is the first in a 24-part series about online marketing, the high-level laws that govern marketing success and how they apply to the igaming industry.The 22 Immutable Laws of Marketing was written by Al Reis and Jack Trout in 1994 and has become one of those long burner cult marketing works, which continues to be relevant decades after it was written.I first heard about this book via Tim Ferris, the San Francisco-based investor and author. He said: “The whole time I was reading The 22 Immutable Laws of Marketing, I was thinking that this is a book that should be easily accessible on every business person’s desk.“I plan to keep it nearby as a reference tool and a way to think about my and other businesses. The 22 laws can be taken in seclusion, but have much more power when considered together. I found myself arguing with the authors about one particular law only to have the next law address my point of contention.”Once I read the book, a light went on in my head because so many big ideas with marketing strategy just came together. Today I’m able to look at any marketing strategy situation and apply at least one or more of these immutable laws of marketing to make sense of what’s going on.If you think of the laws of marketing almost like laws within physics, you will be in the right place. For example, we know that gravity is a force that pulls you towards something. With these marketing laws, they are immutable and so you can have confidence in them.The laws and igamingHaving been in the igaming industry for a very long time, I’ve seen brands come and go and in the past I could never really understand the high-level strategic reasons for their success or failure.Generally either failure or success begins with some very simple decisions around the market segment these businesses are going to tackle and then over time things get more complex as the specifics of any enterprise develop.For example, somebody comes up with an idea for setting up a new online casino. The first big decision is which market segment they are going to go for. Who are their competition and how tough is that competition?On a lower level there might be features and benefits the competition has which you might want to emulate and then finally you’ve got the practical operational side of the business to sort out.At the very beginning of this whole process is a fundamental question: Which market category are we going to take on?If you don’t have any guiding rules about how market categories work, then you might end up making a huge strategic error. You might think it’s time for another mainstream casino brand, a bit like 888. Maybe you think they don’t have a large enough games library or some other feature is missing?If you think of any marketing initiative, it’s ultimately a bet. Your betting that something is going to work Tabcorp made a huge bet on Sun Bets and had to extract itself from the deal, losing around £40m in termination costs.That’s a bet which obviously went wrong. Why? Because in my opinion whoever made those decisions made a bunch of assumptions around the power of the sun newspaper brand to change player allegiance.In other words, the category we call mainstream sports betting is locked up by the major incumbent brands. Had the decision-makers understood some of the laws of marketing, they would have realised mainstream betting was not the way forward and Sun Bets could have been a successful sub-category brand.Here are the 22 immutable laws of marketing:1) LeadershipIt’s better to be first than it is to be better2) CategoryIf you can’t be first in a category, set up a new category you can be first in3) MindIt’s better to be first in the mind than to be first in the market place.4) PerceptionMarketing is not a battle of products, it’s a battle of perceptions5) FocusThe most powerful concept in marketing is owning a word in the prospect’s mind.6) ExclusivityTwo companies cannot own the same word in the prospect’s mind.7) LadderThe strategy to use depends on which rung you occupy on the ladder.8) DualityIn the long run, every market becomes a two-horse race9) OppositeIf you’re shooting for second place, your strategy is determined by the leader.10) DivisionOver time, a category will divide and become two or more categories.11) PerspectiveMarketing effects take place over an extended period of time12) ExtensionThere’s an irresistible pressure to extend the equity of the brand.13) SacrificeYou have to give up something in order to get something.14) AttributesFor every attribute, there is an opposite, effective attribute.15) CandourWhen you admit a negative, the prospect will give you a positive.16) SingularityIn each situation, only one move will produce substantial results.17) UnpredictabilityUnless you write your competitors’ plans, you can’t predict the future.18) SuccessSuccess often leads to arrogance, and arrogance to failure.19) FailureFailure is to be expected and accepted.20) HypeThe situation is often the opposite of the way it appears in the press.21) AccelerationSuccessful programs are not built on fads, they’re built on trends.22) ResourcesWithout adequate funding an idea won’t get off the ground.In the next 22 articles, I’m going to go through each of these laws of marketing explaining them in depth and giving case study examples of how they apply to any marketing strategy you might be working on.Next time, we will talk about the law of leadership and how it’s best to be first in a market category.Nick Garner is founder of Bitcoin casino Oshi.io and has a background in online marketing and marketing strategy. He occasionally consults with igaming brands on marketing strategy and best practice planning for marketing operations. 22 immutable laws of marketingcenter_img 29th August 2018 | By Hannah Gannage-Stewart Subscribe to the iGaming newsletter Topics: Casino & games Marketing & affiliates Sports betting Bingo Slots Email Addresslast_img read more

State of the union

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Missouri Two legislators in Missouri have pre-filed sports betting bills for the 2019 legislative session. SB 44, introduced by Sen Denny Hoskins, presents an interesting twist by foregoing the typical integrity fee in favor of a quarterly 0.5% fee appropriated for upgrades to the state’s sports stadiums. The bill would also authorize sports betting via Internet and mobile devices.  The other measure, HB 119, introduced by Rep Cody Smith, would authorize interactive betting, but only for people who are physically located at licensed facilities. Kentucky: Staying on track Members of the Interim Joint Committee on Licensing, Occupations, and Administrative Regulations held a hearing on 12 October to discuss the authorization of sports betting in the state. The proposition has been well received in the legislature, and the outlook moving forward remains positive.Topics covered during the October hearing ranged from tax rates to integrity feels to mobile betting. A bipartisan group of legislators is expected to pre-file a sports betting bill prior to the start of next year’s legislative session. In September, the National Football League, Major League Baseball, the National Basketball Association, and the PGA Tour all registered to lobby during the 2019 General Assembly and are expected to push for a 1% integrity fee, which Committee Chairman Adam Koenig adamantly opposes. Provided the integrity fee doesn’t become a stumbling block, Kentucky could authorise sports betting as early as January. KS, MI and OR also hopeful for 2019 Legislators in both Kansas considered multiple sports betting bills in 2018, and their sponsors are hopeful for approval in 2019. Oregon’s state’s lottery is hoping to expand its mobile gambling offering to include sports betting by the third quarter of 2019, but the lottery will first need the legislature to approve a taxation scheme. No bills have surfaced yet. Indiana: Signs of Life Following a hearing on 19 October, the Interim Study Committee on Public Policy voted to recommend legislation authorising sports betting to Indiana. While the vote would indicate that the state is taking steps toward legalisation, Committee Chairman cautioned that there are “many perils down the pathway before it becomes law.” Illinois – Slow and steady The outlook for regulated sports betting in Illinois remains good, but lawmakers are in no rush to push through legislation. Rep. Lou Lang cautioned at a hearing held on 17 October that the state should go slowly and make sure they get it right, and he referenced Pennsylvania’s unusually high 36% sports betting tax as an example of errantly moving forward without fully understanding the economics of the industry. Lang also said they need to give careful consideration toward including an integrity fee. He rejected the idea of paying leagues for the “privilege of showing your games,” but is open to a fee that actually contributes toward preserving integrity in sports. Finally, Lange urged caution in deciding who should be allowed to offer sports betting, pointing out that a state that houses almost 30,000 video gambling machines must be mindful of providing too much access to walk-up betting. Ohio: Midterm election not good for sports betting The election of Mike DeWine as Ohio’s next governor does not bode well for advocates of regulating sports betting. DeWine has consistently opposed efforts to legalise sports betting, while his opponent, Richard Cordray had indicated that he would consider legalisation. In August, Ohio Senate President Larry Obhof said Senate Bill 316, which would provide for legalised sports betting in the state, would be studied in a committee after the midterm elections in November. Obhof further predicted that the bill would not likely hit the Senate floor until 2019. Meanwhile, questions have been raised about whether the legislature even has the right to legalise sports betting in Ohio. The state’s constitution prohibits gambling, except under specific circumstances. Other forms of gambling, such as casinos, were only legalised through a constitutional amendment in 2009, and Senator Obhof suggested that sports betting would need to be amended into the constitution by a vote in a similar manner. Florida: At the mercy of voters The passage of Amendment 3 on the November ballot makes the legalisation of sports betting a much more difficult task. The amendment puts gambling expansion in the hands of voters, via citizen initiatives, rather than legislators. Because the initiative process requires 60 percent of the votes for passage, the prospects for authorised sports betting in the state are greatly diminished.Colorado: Still an issue for voters to decide Despite Attorney General Cynthia Coffman’s determination that sports betting is not subject to state constitutional restrictions, at least one of the legislators who supports legalisation is of the mind that the issue should still be decided by voters. In October, Rep. Cole Wist told the Denver Post that, while he is in favor of regulated sports betting, “I think it’s important to go back to the voters and make sure it’s something that they want.”  Rep. Wist and Rep. Alec Garnett are hopeful of getting sports betting to a statewide vote in 2019, which would mean legal sports betting would not become a reality until at least 2020. Meanwhile, gubernatorial candidate Walker Stapleton, a Republican who favors sports betting regulation, lost in the November election. CA, LA, SC are years away Proponents of sports betting in California have their sights set on the 2020 ballot. The state has approved signature collection for the most recent measure, which was introduced in June 2018. To land on the 2020 ballet, the proposal needs to garner 585,407 signatures from registered voters by February 2019.In Louisiana, Sen. Danny Martiny made multiple efforts to get his sports betting bill on the agenda during special sessions, but Gov. John Bel Edwards would have nothing of it. Martiny said he’ll make another push in 2019 but is not optimistic. Despite the introduction of a regulatory bill in South Carolina, the state is likely years away from authorising sports betting, which would require a constitutional amendment to become a reality. Segev LLP employs an eight-strong igaming team with corporate, commercial, IP commercialisation, M&A, private equity finance, public markets finance, privacy and data, and regulatory and compliance experience. Its senior attorneys have a combined total of more than 40 years in the industry. Casino & games Tags: Online Gambling State of the union Michigan: Snyder puts the brakes on In December, outgoing Governor Rick Snyder vetoed Rep. Brandt Iden’s House Bill 4926, the Lawful Internet Gaming Act, following its approval by the Michigan Senate and House. Under five-year licenses, the state’s tribal and commercial casinos would have paid 8% of GGR generated from games such as poker, blackjack, slots and other card and table games. This had been approved alongside HB5881, which would have amended the 1996 Michigan Gaming Control and Revenue Act and levied an 8% GGR tax on sports wagering. West Virginia West Virginia approved legal sports betting in March 2018 with live, on-site betting getting under way at Hollywood Casino on 30 August. The bill authorizing sports betting allows for online and mobile wagering, and Delaware North-owned Mardi Gras and Wheeling Island casinos launched the first online and mobile app on 27 December 2018, the Miomni Gaming-powered BetLucky.com. Topics: Casino & games Legal & compliance Sports betting 31st January 2019 | By Stephen Carter This week’s State of the Union, in partnership with Segev LLP, leads with developments in Virginia, NY, South Dakota, Connecticut, ArizonaProgress in Virginia The Virginia Senate Committee on General Laws this week cleared two new framework bills for legalised sports betting in the US state. SB 1238, introduced by Senator Chapman Peterson would only legalise land-based sports betting at racetrack and off-track betting facilities. Online and mobile wagering would not be permitted. The bill would levy a 10% tax on an operator’s adjusted gross revenue. Meanwhile, SB 1356 would rename the Virginia Lottery Board as the Virginia Lottery and Sports Wagering Commission, with the latter operating a digital platform to accept wagers across all sports, including college events, with the exception of teams based in Virginia. However, the bill does not include provisions for private sports betting operators to apply for a licence in the state. Both bills have  headed to the Virginia Senate Finance Committee for further debate. Last week, the Virginia Senate Committee passed SB1126, which would legalise casino gaming in the state. For more see our news story http://www.igamingbusiness.com/news/two-new-sports-betting-bills-progress-virginiaNY sets out sports betting regs The New York State Gaming Commission on Mpnday approved regulations to allow the state’s four commercial casinos to obtain sports betting licences. South Dakota amendment A group of South Dakota senators and representatives have set out plans to amend the state’s constitution in order to allow its residents to place legal wagers on sports events from inside the city limits of Deadwood. SJR2 commits to putting the amendment to South Dakota voters at the state’s next general election. Connecticut eight file bill Eight Connecticut senators have filed a sports betting legalisation bill. SB 665 puts the onus on the state legislature to develop a regulatory framework for the vertical, rather than setting out a proposed model for the sector. The legislation been referred to the Joint Committee on Public Safety and Security for further consideration. Arizona weighs tribal bill Arizona lawmakers will run the rule over a new sports betting bill that would legalise land-based tribal sports wagering within the state. Senator Sonny Borrelli and Representatives Mark Finchem and Leo Biasiucci’s SB 1158 sets out that each federally recognised tribe in Arizona with headquarters in the state would be able to offer sports betting. This would not be limited to casinos, with tribes able to provide sports betting via kiosks or self-service terminals at one or more premises that hold a bar licence, beer and wine bar or private club licence. Facilities would not need to be located on tribal lands to offer sports betting services.  Subscribe to the iGaming newsletter This week’s State of the Union, in partnership with Segev LLP, leads with developments in Virginia, NY, South Dakota, Connecticut, Arizona. Email Address Kansas Lawmakers in the Sunflower State will consider Senate Bill 23, known as the Kansas Wagering Act, which aims to legalise sports betting via the state lottery. The lottery be responsible for regulatory oversight, with licensees able to offer retail, online and mobile wagering, though similar to Massachusetts Senator Rush’s draft legislation, will also have to pay a royalty fee to the professional sports leagues. This will be paid quarterly, and amount to 0.25% of amounts wagered, though this will be capped at 5% of operators’ gross wagering revenue. The tax rate, set at 6.75%, is particularly low. Unusually, the bill was sponsored by the Committee on Federal and State Affairs, and not an individual. In December the committee held a two-day hearing on sports betting.Washington, DC Regulated sports betting in Washington DC has moved a step closer after Mayor Muriel Bowser effectively signalled a two-month countdown to the Sports Wagering Lottery Amendment Act coming into law. Bowser approved the act on January 23, just over a month after the DC Council voted overwhelmingly in favour of the legislation. Following Bowser’s approval, the act will now undergo a 60-day Congressional review before coming into force. A public hearing will take place on Monday, January 28, primarily to explore whether the DC Lottery can use existing partner Intralot to support sports betting in the state instead of launching a new procurement process. Should it be forced to launch a tender process, the launch of sports betting in the US capital may be delayed until 2020 or beyond. Massachusetts – FIFTH time’s a charm? After a trio of sports betting bills were introduced by Massachusetts lawmakers on January 16, Governor Charlie Baker and Senator Michael Rush got in on the action with their own proposed legislation. Governor Baker’s proposal, An Act To Establish Sports Wagering in the Commonwealth, aims to legalise both online and land-based wagering. Unlike other states, however, it will allow online bookmakers to secure licences without partnering land-based venues. Regulation of the sector would be entrusted to the Massachusetts Gaming Commission, which already oversees the state’s casino industry. Retail betting licences would include a tax rate of 10% on gross sports betting revenue, while online-only licences would see operators pay a rate of 12.5%. Baker would also introduce a new 12.5% tax on fantasy sports contests, which are currently taxed in the state. Applicants will also be required to pay a $100,000 application fee for their five-year permits. Rush’s bill, meanwhile, would also allow online and mobile wagering, but online companies would have to operate through a partnership with a land-based casino. It also sets out a $100,000 licence fee for applicants. However, it deviates further from Baker’s proposal by offering the US professional sports leagues a royalty fee, amounting to 0.25% of amounts wagered each quarter. Sports betting operators would also be limited to using official league data.Maryland Maryland lawmakers are looking to use a 1972 referendum as the basis for launching sports betting via the state lottery. A 2007 law dictates that all gambling expansion plans must be put to a public ballot, but the state is exploring the option of bypassing this step. The lottery was approved through a 1972 referendum, and the state is examining whether this effectively gives it the power to launch new verticals without another vote. However, if this path is not considered viable, Maryland may have to wait until 2020 before the matter can be put to the public. Rhode Island – mobile move Rhode Island Senate President Dominick Ruggerio has filed bill 2019-S 0037 aimed at legalising mobile sports betting in the state. The Twin River casinos in Lincoln and Tiverton would be permitted to work with developers to create an app utilising geolocation technology. Consumers would first to register in person at one of the casinos. The state would takes 51% in tax from all mobile sports betting revenue, keeping new laws in line with regulations for land-based wagering. Ruggerio said it was estimated 97% of sports betting takes place illegally. “This is an opportunity to give Rhode Islanders and visitors a legal avenue to participate in an activity they enjoy, while providing a very tangible benefit to our state.” The state legalised land-based sports betting in June last year and launched its regulated market in November.  Ruggerio’s bill has been referred to the Senate Special Legislation and Veterans Affairs Committee for further scrutiny.last_img read more

America’s got talent

first_img Tags: Mobile Online Gambling OTB and Betting Shops Race Track and Racino Horse racing AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 1st April 2019 | By contenteditor Regions: US Jason Paradise, head of trading at Digital Sports Tech, highlights why local expertise within the US sports betting market is the key to gaining a competitive advantage in the world’s most exciting emerging territory.The legalised US sports betting market is not even a year old, but already operators and sportsbook providers are discovering that while the potential of this emerging territory is huge, the challenges they face are also mounting.From a trading perspective, the biggest hurdle that many are struggling to overcome is the availability of talented and experienced individuals that truly understand both betting and US sports.Expanding business operations and a product offering to cater for a growing customer base will be a big focus over the next few years within the US sports betting sector. However, the reality right now is that the talent pool is narrow with limited choice available.There are alternative options to consider when looking to expanding your trading department. For example, securing talent from those who work within sports and media companies can be beneficial, as the knowledge and skillset they have can be transferrable to our industry.It’s an approach that we adopted when establishing our US trading team and continue to this day as we expand our operations. The result means we have individuals on board who are passionate about sports and can help to grow the business.As operators look to make the next steps in their offering, superior knowledge of the market will become a key differentiator.The human touch Since the demise of PASPA, a number of sportsbook providers with a strong European heritage have naturally made the move across the Atlantic to offer their services.However, in many cases the majority of their trading teams have remained at their existing offices, which puts them at a disadvantage.Traders need to have a high degree of knowledge on the sport they’re specialising in. Much of that comes from fully immersing themselves within a sport, by constantly keeping up-to-date with the latest news and gossip.Without having any presence on the ground in the region they’re operating in, they’ll never be able to compete with those based locally who have constant access to regional sports news.For instance, producing prices on niche markets such as in-play player props on NBA matches not only requires the outputs from advanced predictive models, but also human interaction that can provide essential inputs for pricing as well as oversee operations and respond quickly to palpable errors.Player props represent up to 85% of total NBA markets offered per game with some sportsbooks. For such markets to exist, they need to be powered by both technology and human interaction.The majority of sportsbook operators are experiencing significant year-on-year growth with their NBA betting volumes, such is the growing popularity of the sport globally.But while players such as LeBron James and Stephen Curry are widely known, pricing up the expected performance of the lesser known players provides a real challenge.As US operators look to enhance their product offering with content that appeals to their customer base, traders with expert knowledge of local sports and a strong heritage within the States will have the competitive edge.Jason Paradise is the head of trading for Digital Sports Tech, which provides player prop betting solutions to the global sports betting industry. He previously worked for ESPN and StarStreet Topics: Sports betting Strategy Horse racing Email Address America’s got talent Subscribe to the iGaming newsletter Jason Paradise, head of trading at Digital Sports Tech, highlights why local expertise within the US sports betting market is the key to gaining a competitive advantage in the world’s most exciting emerging territorylast_img read more

Age of Asgard by Yggdrasil

first_img Email Address Topics: Casino & games Slots Casino & games Subscribe to the iGaming newsletter The eternal feud of good vs evil takes place in Age of Asgard, with dual 5×3 machines acting as the battlefield. Players see a fiery female-dominated cast cross swords as the reels collide. When 5 Free Spins symbols land, then the Randomiser is activated which will either take the player to Ragnarok or grant them a consolation prize of 1000 coins.This feud has been a long time coming – Are your players ready for the final fray?You can play a demo of this slot here! 29th October 2019 | By Aaron Noycenter_img Age of Asgard by Yggdrasil AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Companies: Yggdrasil The eternal feud of good vs evil takes place in Age of Asgard, with dual 5×3 machines acting as the battlefield.last_img read more

Louisiana Senate passes sports betting referendum bill

first_img The Louisiana State Senate has passed a bill to legalize sports betting in the state, by a margin of 29-8, and now passes to the House of Representatives for further scrutiny. Subscribe to the iGaming newsletter Regions: US Louisiana Legal & compliance The Louisiana State Senate has passed a bill to legalize sports betting in the state, by a margin of 29-8, and now passes to the House of Representatives for further scrutiny.SB130 – proposed by Senator J. Cameron Henry – aims to hold a parish-by-parish referendum on whether to allow sports betting in Louisiana. Only those jurisdictions that vote in favour will be permitted to offer wagering.The proposition would appear on the ballot of the 3 November, 2020 election.Louisiana lawmakers and the Gaming Control Board would then set out rules for licensing, regulation and tax if any parishes vote for the proposition in 2021.Read more on iGB North America. Louisiana Senate passes sports betting referendum billcenter_img Topics: Legal & compliance Sports betting 14th May 2020 | By Daniel O’Boyle AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Addresslast_img read more

Gaming contributes €1.56bn to Maltese economy in 2019

first_img23rd June 2020 | By Daniel O’Boyle Subscribe to the iGaming newsletter Gaming contributes €1.56bn to Maltese economy in 2019 Tags: Card Rooms and Poker Mobile Online Gambling Regions: Europe Southern Europe Malta Casino & games The Maltese gaming industry contributed €1.56bn to the country’s economy, up 9.6% year-on-year, according to the Malta Gaming Authority (MGA)’s latest 2019 annual report.The report also revealed the MGA has drastically ramped up enforcement action, cancelling 14 licences in 2019, while the number of companies in operation increased by 3.9% to 294 but remained below 2017 levels.The €1.56bn in value added – the total value of goods and services produced by the gaming industry, minus the total value consumed – made gaming the third-largest private-sector contributor to the Maltese economy, behind retail, accommodation and food, and professional services.“Furthermore, gaming contributes to the generation of value added through linkages to other major sectors, including professional services, financial and ICT activities, hospitality and catering services, distributive trades and real estate,” the MGA added.The gaming industry directly accounted for 7,417 jobs in 2019, up 9.2% year-on-year. Of these 7,417 jobs, 6,593 were in the online gaming industry.While the MGA did not announce overall gaming revenue for the industry, it did break down online revenue by game type.Type 1 (player-versus-house casino) games, brought in the majority of revenue, at 56.0%, up from 55.4% in 2018. Of these games, slots were the most popular, bringing in 74.4% of Type 1 game revenue, while table games brought in 21.5%.Type 2 games (sports betting) brought in 36.3% of revenue, down from 39.0% in 2018. Football contributed 76.4% of this total, with tennis at 7.7% and basketball at 5.9%.Type 3 (player-versus-player) games brought in 7.7% of revenue, of which 81.9% came from poke and 10.3% came from betting exchanges. The MGA also offers type 4 licences for controlled skill games, but said revenue from this vertical was negligible.The number of active player accounts with Malta-licenced online operators grew 12.7% to 20.4m.The MGA tightened its enforcement measures during 2019, cancelling 14 licences, up from 8 in 2018 and 3 in 2017. In addition, the regulator suspended a further 11 licences, compared to 11 in 2018.“In 2019, a great focus was placed on ensuring that the Authority’s governance and structure reflected the increased focus on compliance and enforcement,” MGA chief executive Heathcliff Faruggia said. “More resources were given to compliance, with the scope of implementing the risk-based approach towards regulation more effectively.”The total number of licensed companies in Malta increased from 283 in 2018 to 294 in 2019. However, this remained below the figure of 296 in 2017. The total number of licences in use increased from 286 to 298.A total of 53 new gaming licences were issued, out of 89 applications. While this was well below the 93 issued in 2018, the MGA said this was due to changes in its licensing system from August 2018, which meant operators who are already in possession of a gaming service or critical gaming supply licence would no longer need new certification if they wished to offer products covered by a different licence class.Faruggia added that in 2019, the MGA started undertaking ad hoc responsible gambling audits.“These audits have so far proved an effective means of ensuring the effectiveness of the safeguards required by law as implemented by that specific licensee, and they continue to better inform the Authority on the measures it needs to take to achieve its objective of protecting vulnerable persons,” Farruggia said.The regulator made €81.7m in revenue in 2019, up 8.6%. The majority of this came from compliance contributions and levies, which came to €72.3m, up 8.1%. Licence fees brought in €8.1m, up 16.1%, while licence application fees rose 16.6% to €477,605, and revenue from other sources fell 14.9% to €817,276.The MGA’s expenses came to €13.2m, of which €7.2m were staff costs, while the MGA incurred a further €1.2m in both general and administrative costs and depreciation and amortisation.Looking ahead, the MGA has conducted a survey of licensees in April 2020, to assess the impact of novel coronavirus (Covid-19) on the gaming industry. According to 151 B2C operators polled, gaming revenue is expected to drop by 12% in 2020, due mostly to a drop in sports betting revenue. That vertical alone is set to see revenue decline by up to 40%, according to the industry. Meanwhile, the 64 B2B suppliers surveyed said they expected a revenue decline of 20%.“Already, the emphasis on the protection of vulnerable players has taken on an even greater importance with the disruption of everyday life and the financial uncertainty that many people are experiencing,” Faruggia said. “At the same time, the pressures of operational costs are being felt ever more strongly by the industry, which has to adapt to the new reality.“The Authority’s efforts in ensuring not only that regulated operators are compliant and responsible throughout, but also that unregulated operators that endanger the general public and generate illicit proceeds are not allowed to operate, will continue to be topmost priorities.” Topics: Casino & games Legal & compliance Sports betting Poker AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter The Maltese gaming industry contributed €1.56bn to the country’s economy, up 9.6% year-on-year, according to the Malta Gaming Authority (MGA)’s latest 2019 annual report. 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iGaming and sports betting push PA revenue up in August

first_img iGaming and sports betting push PA revenue up in August Internet-based tables games generated $13.6m in revenue from $812.4m in bets. Online poker, however, performed poorly after growing under lockdown. Revenue for the vertical only reached $2,729, with just one operator – Mount Airy Casino Resort, and its partner PokerStars – offering this form of gambling. Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter The Pennsylvania Gaming Control Board (PGCB) has reported a 5.8% year-on-year increase in revenue in August, driven by igaming and sports betting growth. Subscribe to the iGaming newsletter Regions: US Pennsylvania Sports betting 17th September 2020 | By Aaron Noy The Pennsylvania Gaming Control Board (PGCB) has reported a 5.8% year-on-year increase in revenue in August, driven by igaming and sports betting growth. Overall gambling revenue in August amounted to $310.4m (£239.6m/€263.6m), up from $293.4m in the same month last year and 9.6% higher than in July this year, despite the state still having to contend with certain measures and restrictions linked to the novel coronavirus (Covid-19) pandemic. Pennsylvania’s online gambling market witnessed significant growth during the month, with revenue here rocketing 1,544.1% from just $3.4m in August 2019 – the first full month of activity – to $55.9m, a new monthly record for the state. Read the full story on iGB North America. Online slots were the main source of income for licensed operators, with revenue amounting to $39.6m afters players wagered more than $1.06bn during the month. Topics: Finance Sports bettinglast_img read more

Australia establishes council to advise new sports integrity body

first_imgSport Integrity Australia commenced operations in 1 July, acting as the country’s watchdog for any sporting corruption matters, such as match-fixing or doping. Regions: Oceania Australia Australia establishes council to advise new sports integrity body Sports integrity AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter The council will provide strategic advice to both the chief executive of the agency, as well Minister for Sport Richard Colbeck. It is made up of leading names from across sport, governance, government administration, law enforcement and child protection. Topics: Legal & compliance Social responsibility Sports betting Legal Regulation Sports integrity Sports consultant and former elite athlete Scott Draper, former National Children’s Commissioner Megan Mitchell and policy adviser Jason Marocchi make up the nine-member council. “I am looking forward to working with the other highly respected Advisory Council members to bring together our combined experience and knowledge to advise on all aspects of sport integrity and to assist in safeguarding the integrity of Australian sport,” Kenny said.center_img The nine-member council will advise Sport Integrity Australia, a new agency formed as part of the implementation of the Sports Integrity Act in 2020, which looks to coordinate efforts to stamp out corruption in the country’s professional sports. The Australian government has formed the Sport Integrity Australia Advisory Council to support efforts to combat manipulation in sport across the country. 8th January 2021 | By Robert Fletcher World Sailing vice president Sarah Kenny will chair the council, with support from Paralympics Australia chief executive Lynne Anderson and Golf Australia CEO James Sutherland. Former elite athlete and governance expert Margot Foster will also serve on the board, as well former New South Wales Police Commissioner Ken Moroney, and senior public servant Peter Conran. Minister Colbeck added: “By establishing Sport Integrity Australia and the National Sports Tribunal, increasing investment into independent compliant handling and forming the Sport Integrity Australia Advisory Council, Australians can be confident everything possible is being done to keep the sport they love clean, safe and fair.” Subscribe to the iGaming newsletter Email Addresslast_img read more

Veikkaus online gambling loss limits become permanent

first_img Topics: Online casino Regulation Email Address However, the measures have remained throughout the pandemic, with the rules having been extended several times, the most recent being until 30 June. 18th June 2021 | By Robert Fletcher Finnish gambling monopoly Veikkaus has confirmed that temporary online gambling loss limits that were put in place at the start of the novel coronavirus (Covid-19) pandemic will become permanent, after the country’s government passed a decree approving the rules. Tags: Veikkaus A monthly loss limit of €2,000 for online casinos games will also remain in place, as set out by the new decree. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Veikkaus online gambling loss limits become permanent Online casino The government has now confirmed that the loss limits will become permanent.  Players will only be able to lose maximum of €500 (£429/$596) each day while playing online casino games with Veikkaus. The limit was previously set at €1,000 per day. “In addition to gambling problems, lowering the loss limit will combat over-indebtedness and livelihood problems, and I am pleased that the daily loss limit will be permanently reduced from €1,000 to €500.” Regions: Finland The government in May last year issued a decree significantly reducing monthly and weekly loss limits for online casino offered by Veikkaus on a temporary basis during Covid-19. Subscribe to the iGaming newsletter “The reduced maximum loss limit has been in use for a year,” Finland’s Minister of the Interior Maria Ohisalo said. “Loss limits are a good way to prevent gambling harm. last_img read more

Nazara Technologies enters offline, VR gaming with InstaSportz investment

first_img Brands Brands WWE adds several matches for tonight’s episode of Monday Night RAW Brands by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikePhotoStickHow To Back Up All Your Old Photos In SecondsPhotoStickTreehuggerHow To Protect Yourself Against CyberthreatsTreehuggerGeorgetown UniversityLearn from Anywhere This Summer with Georgetown’s Online Summer CoursesGeorgetown UniversityAlso Read: Sports Investment: Nazara Technologies acquires stake in CrimzonCode“At Nazara, we wish to offer interactive entertainment that blends sports, virtual reality, and arcade gaming thus offering an immersive gaming experience across all age groups. With this investment in Instasportz, we are pushing ourselves to offer gaming lead entertainment to the gamers across various touch points and aim to give them a chance to experience the Virtual Reality games at the Instazones and continue the thrill of gaming on their mobile phones once they head back home,” said Manish Agarwal, CEO of Nazara Technologies, leading mobile gaming company in India.“We aim to own the largest network of VR lounges across India and other emerging markets globally.  We believe that Nazara, with its presence in 61 countries as on September 30, 2018 across emerging markets will help us in expanding our presence through strategic local partnerships. We intend to keep working on getting the innovative VR products at our Instazones so that our customers get nothing but the best VR gaming experience at an affordable price point,” InstaSportz founders Bigith Nambiar and KR Rahul have said in a joint statement.Also Read: Nazara aiming for 1,000 cr IPO; expects 3,000 cr valuationInstasportz is an established startup in offline VR gaming space with the vision of making millions of Indians experience the latest innovations in VR gaming thru their state-of-the-art VR gaming kiosks called Instazones. InstaSportz has partnered with India’s leading multiplex chain Carnival cinemas to set up VR zones/Instazones at their theatres, offering customers a never before experience.Instazone is a VR lounge that requires under 100 sq ft of space and is set up at premium spots inside malls, multiplexes etc. which offers customers a world-class VR experience at an affordable price point. Instasportz is currently present in Kota, City Mall Ludhiana, Silver Arc Mall, Calicut, HiLite Mall, Bangalore, Xtreme Sports Bar, Bangalore and many more are in the pipeline. They intend to be live in over 100 towns in the coming years.Also Read: Nazara Technologies announces investment by ESL Cricket Business : Nike declines to renew, BCCI invites bids for Team Kit Sponsor and Merchandise Partner rights Sports BusinessBrands Brands By Kunal Dhyani – August 16, 2018 Indian women cricket team and 52 other stars feature in Nike’s film, narrated by World cup star Megan Rapinoe Brands Brands YourBump15 Actors That Hollywood Banned For LifeYourBump|SponsoredSponsoredDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily Funny|SponsoredSponsoredDefinitionTime Was Not Kind To These 28 CelebritiesDefinition|SponsoredSponsoredMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity Week|SponsoredSponsoredPost FunThese Twins Were Named “Most Beautiful In The World,” Wait Until You See Them TodayPost Fun|SponsoredSponsoredMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStory|SponsoredSponsored Nazara Technologies enters offline, VR gaming with InstaSportz investment Sachin Tendulkar says, ‘spare a thought for Barbers’ in Gillette’s new Campaign Share on Facebook Tweet on Twitter Chennai Super Kings Suresh Raina appointed as Brand Ambassador for BharatPe Brands Brands IPL 2020 : Mumbai Indians captain Rohit Sharma signs with Oakley eyewear IPL 2021: CSK’s captain MS Dhoni takes stake in start-up whick makes Helicopter Shot Choclates and Beverages Brands Previous articleUnfair to say India are dependent on Kohli: SangakkaraNext articleBritish Indian businessman Amit Bhatia named Queen Park Rangers Chairman Kunal DhyaniSports Tech enthusiast, he reports on Sports Tech industry and writes on sports products. TAGSInstaSportzNazara TechnologiesNazara Technologies. Esports SHARE Facebook Twitter Adidas to play with more heart and harness the power of the game in new film narrated by athlete and icon, Siya Kolisi Sports Business : Adidas launches ‘What’s One More’ campaign to celebrate athletes preparing for Tokyo Olympics RELATED ARTICLESMORE FROM AUTHOR PV Sindhu’s Stayfree digital campaign breaks record, clocks 12+ million views Nazara Technologies has today announced an investment in InstaSportz Consultancy Pvt Ltd, a Bangalore based VR gaming company. With this move, Nazara Technologies proposes to enter the offline gaming space to offer interactive entertainment via VR lounges in Tier 1 and 2 cities across India.With Nazara’s investment in InstaSportz, Nazara seeks to strengthen its portfolio of offerings in the virtual interactive sports genre in India and other emerging markets. The InstaSportz acquisition comes after Nazara’s investments in MasterMind Sports, Moong Labs, HalaPlay, CrimzonCode and more recently, Nazara has extended its operations in Kenya a local Kenya based company to tap the real money gaming market. Brands last_img read more