Month: March 2021

Founded in 2012, SBD operates as a multi-channel platform, providing a range of data and tools for novices and experts, including betting odds, trends, reports, futures trackers and analysis.

XLMedia said the acquisition would provide it with a US affiliate sports betting brand and strengthen its presence in the country’s legal wagering market.

SBD had been in the process of preparing its site to meet regulatory standards and, should the acquisition go ahead as expected, SBD will be able to leverage XLMedia’s licences and deals with operators to monetise its traffic in the nine states where XLMedia is active.

XLMedia will pay an initial $11.0m up front, together with up to $500,000 as a reimbursement of SBD’s operating expenses per month since the beginning of the current year.

Read the full story on iGB North America.

Over the year the operator launched its new sportsbook platform, as well as strengthening its casino offering with proprietary content, and deployed a new safer gambling solution for customers.

For the 12 months to 31 December, total revenue amounted to $849.7m (£608.4m/€711.0m), compared to $560.3m in the prior year.

B2C revenue grew 54.5% to $814.3m, with casino by far 888’s primary source of B2C income. Revenue for the vertical climbed 63.3% to $586.8m, helped by the launch of 44 new games via 888’s Section8 games studio.

Sports betting revenue jumped 35.7% year-on-year to $122.1m, driven by the roll-out of its first proprietary sports betting platform.

Poker revenue increased by 47.8% to $63.1m, helped by the launch of its new poker product and a resurgence for the vertical in 2020.

Finally, bingo revenue edged up 9.9% to $42.3m, partially due to the impact of the Costa Bingo acquisition in 2019.

The operator also reported growth in B2B revenue, which increased 18.9% to $35.4m, with both 888’s bingo and US operational segments delivering growth.

Looking at geographical performance, the UK remained 888’s core operating market, with revenue here amounting to $333.5m, or 39% of total revenue.

Revenue in Europe, the Middle East and Africa (EMEA) reached $253.4m, or 30% the group total, while US and the Americas contributed $93.7m, 11% of overall revenue. Italy represented 10% of revenue, Spain 8% and rest of world 2%.

Last year also saw 888 launch its Control Centre, a responsible gambling source designed to offer customers a one-stop-shop for safer gambling tools.

As part of its ‘Safer. Better. Together.’ strategy, 888 also rolled out a safer gambling advertising campaign, and continued to develop its Observer technology to flag and monitor concerning customer activity.

“2020 was a landmark year for 888, with our team navigating the many challenges presented by a global pandemic to deliver record financial results, and significant progress against our strategic priorities,” 888 chief executive Itai Pazner (pictured) said.

“Our product-leadership strategy delivered outstanding results in 2020, with the launch of our ground-breaking [responsible gambling solution] Control Centre, our first ever in-house sportsbook, and a totally new poker platform.

“Our focus on delivering safe, intuitive, content-rich and entertaining products is helping us to deliver a differentiated customer experience and supporting our market share gains in key regulated markets.”

After paying $151.8m in gaming taxes and duties and $135.1m in costs related to sales, 888 posted a gross profit of $562.8m, up 49.4% year-on-year.

Marketing expenses reached $237.1m and operating costs $170.1m, which left the operator with $155.6m in adjusted earnings before interest, tax, depreciation and amortisation (EBITDA), up 69.0% on 2019.

However, when including $11.0m in share-based benefit charges, $33.6m in depreciation and amortisation, and $78.2m in exceptional items – the latter of which related to a bingo goodwill impairment charge – operating profit was $32.8m, down 37.1%.

After accounting for finance costs, profit before tax was $26.7m, a fall of 41.1% on 2019’s total. 888 paid $15.4m in tax, leaving it with a net profit of $11.3m for the year, down 72.8% year-on-year.

Looking ahead, Pazner remained upbeat about the operator’s growth prospects for 2021 and beyond.

“We enter 2021 with strong momentum, with a record level of customers, and with a positive reaction to our suite of new products and innovations,” Pazner said.

“As a result, as well as the group’s strengths as a product-centric, responsible, and diversified operator, the board believes that 888 has an outstanding platform to deliver continued strategic progress during 2021 and beyond.”

The esports betting industry has exploded in recent years. The novel coronavirus (Covid-19) pandemic of 2020 has lifted the industry to new heights, but oddsmakers haven’t lost any incentive to improve their services. In fact, increased popularity pushes bettors’ standards higher. There’s plenty of competition between sportsbooks, and payment options are one area to gain an advantage over a competing esports betting site.

Esports bettors are particularly keen on diverse payment options. Esports tournaments can feature multiple rounds of competition on the same day and new matchups are constantly determined in multi-day events such as League of Legends Worlds or Dota’s The International. These championships are also the most popular betting attractions for their respective titles. Esports bettors benefit the most from fast deposit and withdrawal times, and their love of technology coincides with one of the fast-growing payment options. They will check your payment times before making an account.

The four main options

Options for esports betting are largely the same as for traditional sports. A cutting-edge payment menu would include debit cards, online wallets, bank transfers and cryptocurrency. Each type of service is aimed at different kinds of users. While there are other methods of transferring money between customers and betting companies, those four make up the vast majority of payment providers in esports betting.

Debit cards are the most common method used to deposit money into a betting site for a good reason: they’re ubiquitous and charge minimal fees – but they don’t particularly excel in any certain area. Transfer times vary between immediate and three days, with most taking a few hours. A same-day debit card deposit is a very desirable option.

Online wallets are a common sight on betting sites but their sheer variety can make supporting them difficult. The likes of Skrill, Neteller, Trustly and ecoPayz all require individual attention to implement into your payment gateway. Fees and timing also vary wildly from service to service. If you can only support a single online wallet, stick with PayPal.

Bank transfers are a favourite for very experienced bettors, thanks to their reputation as the most secure deposit option. While that may be true, that security comes at the expense of speed. Direct deposits can take days to send and days to arrive, and some sites can only promise receipt within two weeks. Bank transfers’ low opportunity cost and user loyalty make it an option worth offering, but very few esports bettors, if any, use them.

Cryptocurrency is another resource-intensive payment option that is crucial for attracting esports bettors. Crypto transfer speeds are the quickest among the four main choices by far. Esports bettors often need to adjust their account on the fly, and the low fees further incentivise them to pick crypto. The most popular digital currencies are Bitcoin and Ethereum but having infrastructure for one cryptocurrency makes it much easier to begin accepting others.

Tailoring your offer

Esports bettors largely fall into the same deposit habits as traditional sports fans. Credit cards and online wallets are still the most popular options and bank transfers are used only by a select few. In addition, video game bettors are eager to adopt cryptocurrency for its novelty and convenience. Video game betting and cryptocurrency are intertwined, so a plan to integrate one should probably also include the other.

If you want to tailor your payment providers towards esports bettors, crypto is a must. Bitcoin and Ethereum are relatively easy to handle and transfer, but new crypto variations are continually gaining traction in the market. Crypto off-shoots such as stablecoins are only the beginning. Offering crypto payments now will make it easier to adapt as the market opens up – and tech-savvy esports bettors will appreciate your efforts almost as much as they enjoy the quickness and cheapness of crypto.

Professional competitive gaming has exploded over the past decade. What started as basement LAN parties and the occasional regional gathering has become a global phenomenon for gamers, fans and business people. The industry’s betting side was pushed to the limit in 2020 when several traditional sports leagues were forced to postpone their seasons. And now, even as traditional sports return to television, esports is still enjoying a massive boost in popularity.

Esports are often touted as the future of competitive entertainment, and such predictions aren’t entirely unfounded. A significant advantage of esports is that new ones can simply be created by development studios who think they have a hit. As new games are released and added to sportsbooks, new fans and players of those titles will get mixed into the general esports betting scene. Gaming fans rarely only follow a single title. 

For bookies the appeal is clear. There’s never going to be a “Basketball 2”, but new esports are constantly introduced together with all the betting opportunities that come from them. Add in the growing general popularity of video games, the proliferation of smartphones and consoles in less-developed countries and the 2020 hit to traditional sports, and esports should be priority number one for casinos.

Esports reach a new, ever-expanding audience that isn’t as interested in traditional sports or gambling. They also offer tons of betting opportunities thanks to international competition and a constant stream of new games. Esports fans are much younger than the average baccarat enthusiast, and casinos will eventually be forced to cater to them. Some are getting a head start with esports-dedicated sportsbooks and lip service, but what will it take to draw the lucrative esports crowd away from computers and into casinos?

The state of esports betting

While betting opportunities exist for even the smallest mobile esports, three titles dominate the market. League of Legends, Counter-Strike: Global Offensive, and Dota 2 make up the holy trinity of esports. Each has a bustling, competitive scene with teams across the world. Their regularity has made them a favourite for esports oddsmakers, who focus on these games above all others.

Like American football’s Superbowl or the NBA Finals, esports also have big events ripe for wagering. League has World, Dota has The International and CS:GO has the Majors, which happen twice a year. One major difference is that esports events last a very long time. The NBA Finals can take up to two weeks; LoL Worlds lasts two months with almost no breaks. 

In addition to esports betting growth, several secondary industries have popped up to support pro gaming. Data analysis technology, written coverage and match predictions have become big business in the esports era. 

Bookmakers still face several challenges when offering esports. The odds are challenging to tabulate due to recency and constantly changing rosters, and the lack of a concrete schedule doesn’t do bookies any favours. There’s also the nightmare of making sure players’ usernames are spelled correctly, something many websites don’t even bother with.

Where casinos currently stand on esports

There are a handful of issues preventing casinos from embracing pro gaming. Betting laws in America make very explicit mention of sports, but the laws were usually written when esports didn’t exist. The legality of esports betting is somewhat ambiguous, though many betting sites can skirt around the grey area by leaving their sites accessible to anyone. Casinos don’t have that luxury but that hasn’t stopped a few from getting a head start on the esports crowd.

A handful of casinos are leading the charge to integrate esports. The most famous example is undoubtedly the HyperX Esports Arena at the Luxor Hotel in Las Vegas. The 2,800m2 complex is meant to bring esports fans directly to the casino to watch live competition. GameCo, one of America’s biggest video game gambling companies, also has plans to bring esports close to the tables. It plans to launch the first physical esports-only sportsbook at the Sky Ute Casino Resort in Colorado. The owners of both properties understand the potential of esports but is that enough to coax gamers away from online betting sites?

What’s next for casinos and esports betting?

Casinos are not an option for most esports bettors as it stands. Thanks to the Covid-19 pandemic sports and esports gamblers are now used to placing bets in their pyjamas. Putting a massive esports stadium and sportsbooks across from the slot machines will help, but casinos need to engage with esports fans on a level that digital betting websites can’t if they want them to switch to in-person betting.

The first step will be overcoming the technical hurdles. Casinos will need to find new oddsmakers or data analysis methods to cover the necessary matches. Multi-week events like the Worlds pose some logistical questions.

The second step is attracting local esports fans. The key appeal of in-person betting over digital is the ability to place a bet and comfortably enjoy the game in the same space. Casinos often publicise significant sporting events and put on specials to encourage fans to come. Big events like the Majors are perfect opportunities for casinos to test the waters.

The digital nature of esports might suggest that esports fans prefer watching tournaments in solace, but that couldn’t be further from the truth. Esports fans have a long history of gathering to watch competitive events. Dota 2 is famous for ‘pubstomps’, where fans from a region gather to watch The International live. League of Legends and Counter-Strike fans have similar ‘watch party’ traditions. It would be essential to advertise these events as esports-focused, possibly even separating them from the sports crowd. Esports fans want an opportunity to watch the big game with like-minded people, but they’ll get a terrible first impression if they sit down just to hear someone talk about the NFL.

As video games return to international competition, casinos should try their best to welcome esports fans. They represent both the present and future of the betting industry, and gambling companies have plenty of reasons to offer gaming already. Getting a head start will be valuable, especially if casinos embrace some esports culture in the process.

This decision will see Zitro’s titles become available to players in Buenos Aires for the first time at any online casinos that have a licence within the city.

This marks the latest step in Zitro’s global expansion, as it has already carries licenses in countries such as France and Malta.

Zitro’s commercial director for Latin America Alejandra Burato said: “The online gambling market of the City of Buenos Aires is one of the online gambling markets with the greatest potential not only in Argentina but also in Latin America.

“That is why we are very excited about the prospect of having our games present in each and every one of the online casinos that receive their license to operate in the capital of Argentina.”

Zitro is the latest supplier to be granted access to a market of approximately 17m people, after Play’n Go were also approved for a license within the city earlier this month.

The platform will now integrate ESIC’s industry standard integrity programme into its operations, to promote sporting integrity and ensure fair play across tournaments on its platform.

ExeedMe allows casual gamers to challenge one another and bet cryptocurrency on their own victories, which the platform said allows players of all skill levels to make money from video gaming.

“We are happy to have ExeedMe on board as a member of ESIC,” said Ian Smith, commissioner of ESIC. He added that: “We look forward to working with them to assist with the integration of ESIC’s integrity programme into their operations.”

“This is another step towards the fulfilment of ESIC’s mission to establish and foster the harmonisation of competitive integrity standards in esports. ExeedMe’s allegiance with ESIC is a display of their dedication to maintain integrity in their esports operations.”

Nuno Fernandes, ExeedMe’s chief executive, added: “It’s a huge honour to have ExeedMe join as a member of ESIC. We are deeply committed to changing the gaming scene by allowing gamers from all skill levels to showcase their skills.

“We feel that it is crucial for us, as we’re creating a Play2Earn ecosystem, that our platform is built on trust, and that all users can play freely and fairly, so partnering with ESIC was an important step for ExeedMe and we couldn’t be more honoured to take part in such a leading organization in the esports world.”

ExeedMe is the latest esports company to become a member of ESIC and integrate its integrity codes into business practice.

In January, sports data supplier SportsModule, and its subsidiary esports tournament organiser 247 Leagues, obtained membership of the commission.

Subsequently, data provider Esports Charts became the first official data partner of ESIC, with the aim of helping the commission establish a better understanding of industry trends and behaviours.

In addition to creating new training tools and lapel pins for William Hill employees, the operator has also increased the visibility of responsible gaming messages on betting kiosks and sportsbooks throughout the month.

The ‘Always Bet Responsibly. Play By the Book’ logo will be on all betting tickets, as will a number for a local gambling helpline.

Read the full story on iGB North America.

This permit will allow Virginia-based sports fans to avail of both Bally’s Bet.Works sports betting platform and the Kambi-powered Barstool product from Penn National Gaming.

The announcement signifies Bally’s arrival into the Virginia gaming market. It also hopes to build a a new $650m casino resort in the city of Richmond.

Read the full story on iGB North America

Powered by GAN’s simulated gaming software, the new service will be available across desktop and mobile, with GAN also supplying marketing and front-line customer services for users.

GAN will also make available technology that offers a new application framework and desktop template including loyalty linking.

Gila River Gaming Enterprises operates three casinos across Arizona – the Wild Horse Pass in Chandler, Vee Quiva in Laveen Village, and Lone Butte in Chandler – on behalf of the Gila River Indian Community.

“We are very pleased to have a partner like GAN to develop a customized Simulated Gaming platform allowing our players to play and earn rewards away from our properties,” Gila River Gaming Enterprises chief marketing officer Dominic Orozco said.

Read the full story on iGB North America.

The purchase was made for what has been described as a ‘nominal amount’ after Covid-19 restrictions placed a halt on Buzz’s ability to trade for much of the last twelve months.

Caledonia Investments put £22m into Buzz Bingo as recently as summer 2020 as part of a company voluntary agreement.

However the implementation of a third national lockdown saw a need for new investment arise.

ICG, as well as Barclays, has since provided further capital to Buzz Bingo.

Buzz Bingo – formerly Gala Bingo – announced last year that it was to close more than a quarter of its UK clubs due to the impact of the pandemic, resulting in more than 500 employees losing their jobs.