Month: March 2022

Drehkoff, who has served as CFO at Rush Street Gaming since June 2012, will move into his new position from 1 May

During his tenure as CFO, Drehkoff has supported Rush Street Gaming and its Rush Street Interactive business expand into new markets across the US, North America and other international gaming markets.

He also spearheaded over $2.00bn (£1.52bn/€1.81bn) in capital investments and $8.00bn in successful debt financings across multiple gaming jurisdictions.

Confirmation of Drehkoff’s came after Carlin, co-founder of the Rush Street Interactive (RSI) arm, in August last year announced he was to resign as CEO, making way for Richard Schwartz and taking on the new role of vice chairman.

However, in January this year, Carlin resigned from the group’s board and revealed that he would be leaving the business. Aside from co-founding RSI in 2012, he also helped launch RSI in 2012.

“We thank Greg for his many contributions and for helping to build a great business,” Rush Street Gaming chairman Neil Bluhm said. “Greg has a proven eye for recruiting and developing top talent, of which Tim is a great example. 

“We wish Greg the very best and look forward to many future successes under Tim’s leadership.”

Carlin added: “Rush Street is in great hands with Tim as CEO, and we’ve never had a more talented group of executives at all our properties.

“It has been the honoor of a lifetime to start a business with Neil and develop and operate six successful casino projects, all of which have had a positive impact on their host communities. I’m especially proud of the culture we’ve built, and I’m excited about the path ahead for Rush Street Gaming and for myself. 

“My sincere gratitude to the entire Rush Street Gaming team.”

Revenue was 43.0% lower than in the same month last year, while the February 2022 total was also down 63.0% from $2.0m in January this year, which itself was a six-month low.

This decline came despite handle increasing 25.7% year-on-year to $19.1m, with DC now home to double the number of sportsbooks as it was in February last year.

In revenue terms, Gambet 0 operated by the DC Lottery and powered by Intralot – was the leading operator in February, generating $440,409 in revenue from $3.9m in total bets.

Caesars, which operates an online sportsbook and a retail offering at the Capital One Arena, took the most bets during the month, processing a total of $11.3m in wagers, but only posted $60,924 in revenue after players won more than $11.2m.

BetMGM, active in DC via a partnership with Major League Baseball team the Washington Nationals, performed better in revenue terms than Caesars, posting $189,577 in revenue off $3.5m in bets.

Grand Central Restaurant, Bar and Sportsbook, which offers sports betting in DC through a partnership with Elys Game Technology, followed with $49,632in revenue and a handle of $399,555.

O’Sullivan – a six-time World Snooker Champion who holds the career record for both maximum and century breaks – will appear at the world’s largest gaming show at sports betting and igaming software supplier Delasport’s stand.

 “I am delighted to confirm that Ronnie O’Sullivan, the greatest snooker player of all time, will be making his first appearance as Delasport Brand Ambassador at our stand S1-340 at ICE London,” Delasport CEO Oren Cohen Shwartz said.

Cohen Shwartz added that O’Sullivan and Delasport share a number of values.

“Ronnie is a terrific personality and a snooker genius,” he said. “He is widely recognised as one of the most accomplished players in the history of the game. 

“Established 11 years ago, Delasport has earned an industry reputation as a premium Sports Betting supplier, and so our collaboration with Ronnie is a natural choice for us as we share similar values notably passion, dedication, and a high level of professionalism. 

“Ronnie is an excellent addition to the Delasport international sports family, which includes the Balkan International Basketball League, which we are sponsoring for the second year.”

ICE London 2022 will take place from 12-14 April at the ExCeL in London after being postponed from its traditional early February dates, while the co-located iGB Affiliate London event will run from 13-14 April. The event will therefore be O’Sullivan’s last activity before the 202 World Snooker Championship begins on 16 April.

Cohen Shwartz also said that Delasport would arrange events at its stand related to O’Sullivan’s appearance.

“After two years, we are looking forward to meeting our partners, friends, and potential partners at our stand at ICE. Other than showcasing our products, solutions, and services, we are preparing several engaging activities for our stand visitors, including Ronnie’s appearance. Full details of Ronnie’s attendance at ICE will be shared by the first week of April.”

To register for ICE London 2022, click here.

The free-to-play game will be launched via ITP’s WonderWins brand to coincide with the start of the 2022 Indian Premier League twenty20 cricket competition on March 26.

WonderWins, which will also house match coverage, news, information and analysis, will be ESPNcricinfo’s exclusive daily fantasy provider in India.

ITP, which launched in November 2020, said that WonderWins would be able to connect with “over 85 million discerning cricket fans on the ESPNcricinfo platform and further drive conversations with over 15 million highly engaged fans across its social media channels”.

According to a study by the Federation of Indian Chambers of Commerce and Industry (FICCI) in association with knowledge provider EY, the value of the Indian fantasy sports market is expected to reach $2.5bn (£1.9bn/€2.27bn) this year, and is expected to expand at a compound annual growth rate of 32% through to 2024.

“ESPN have been a brilliant and agile collaborator, organically wrapping WonderWins around their fantasy programming – from new article links to bespoke video programming and other product levers as we look forward to the much-anticipated IPL 2022 season ahead,” Hussain Naqi, the founder of WonderWins and ITP, said. 

“Our underlying platform is uniquely well positioned to leverage this opportunity because we can diversify content, leverage consumer data and partition it for partners as the market’s shifting sands coalesce.

“Our multiple data partnerships deliver us unique consumer insights that will allow us to hyper-segment our audience communication over time, including for other sporting events like the 2022 FIFA World Cup.”

WonderWins’ daily fantasy offering and “hyper-casual” games will continue to evolve over the coming months and years, ITP added.

Ramesh Kumar, vice president and head of ESPN Digital Media India, said: “The timing is perfect with the exciting new season coming up and we are delighted to offer our new-age cricket fans the right mix of information and entertainment for them to follow their favourite sport and teams. 

“Consequently, we are now able to wrap an array of complementary programming and editorial content in the fantasy space around WonderWins, significantly boosting fan engagement around the game, as the new IPL season comes into sharp focus.”

KSA’s research found that more than 35 gambling adverts were shown on average between 21:00 and 22:00 between October and December 2021, with the total rising to more than 40 between 23:00 and midnight.

Adverts for lotteries and online gambling platforms accounted for the bulk of the adverts.

The total number of gambling brand exposures on television, including brands on billboards during broadcasts of sports matches, also peaked at between 23:00 and midnight, with an average of more than 120 in the one-hour slot.

Under the current law, gambling advertising cannot appear on television between the hours of 06:00 and 21:00. 

Data from Nielsen in the report also suggested that total monthly ad spend for the sector peaked at almost €30m in December 2021, though it then dipped under €20m in January 2022. In every month measured, the lottery was the highest-spending sector.

Online gaming operator spend peaked at €8.6m in December.

The report comes after minister Franc Weerwind promised to crack down further on gambling ads, after new voluntary rules for operators came into effect.

In December, the Licensed Dutch Gaming Providers (VNLOK) association agreed to a voluntary advertising code for online gambling in the Netherlands, including limits on bonuses and daytime ads online.

With the code, VNLOK – with members including Holland Casino, FPO Nederland, JOI Gaming, Nederlandse Loterij and ZEbet – extended measures already in place for television and radio advertising to online advertising.

Legal limits on advertising already existed through the Remote Gaming Act, which launched with the Netherlands’ online gaming market in October.

In the report, KSA also revealed that there were 33 licence applications lodged with the regulator in 2021. Eleven licences were granted by the close of the year, although René Jansen, the watchdog’s chairman of the board, said that several applications were still being processed and a more “complete picture” is likely by the middle of this year.

Jansen also suggested that operators need to take responsibility for adopting a responsible approach in relation to the volume and frequency of advertisements.

“The objective of the modernisation of the gambling policy… [has been to] ‘channel’ players from illegal to legal offerings,” he said.

“This cannot be done without advertising. It is up to the industry themselves to implement this in a careful and responsible manner.

“It’s a balancing act between knowing yourself on the one hand and, on the other hand, causing irritation. The role of the KSA is limited in the current regulations.”

The American online and mobile sports betting space continues to expand, with New York and Louisiana launching so far in 2022, following Arizona and Michigan, among other states, in 2021. 

Amid ongoing regulation, payments technology – including digital wallets and online cash – is being used more regularly, almost in tandem with the growth of the US market. 

With regulation expected to continue apace, it’s clear that by understanding and embracing payment technology, operators in new states will set themselves up for greater long-term success.

Customers care about payments

Given the number of operators in the space, creating a frictionless payments experience that’s easy for players to understand is crucial when seeking a competitive advantage.

There are a number of ways operators can improve their payment experience, including expanding the number of payment methods and maximizing overall payment acceptance. 

For many bettors, credit card payments aren’t the preferred way to deposit into their accounts. Whether it’s for privacy reasons, or because this is an ecommerce transaction, it’s crucial that igaming operators include the full gamut of payment types, including digital wallets, eCash solutions, cryptocurrency and more. 

By offering a broad range of payment types, operators can appeal to a wider range of consumers, from veteran VIP and high-volume bettors to casual players.

While this concept rings true for deposits, withdrawals are equally important in creating an improved betting experience. In our 2021 research report on the state of US online sports-betting payments, we found that two thirds (66%) of American players expect to be paid out within 24 hours.

Quick and easy payouts remain a top criterion for players when selecting an online sportsbook. In fact, when comparing sportsbooks, our research revealed that payout speed was even more important than brand loyalty and promotional offers such as bonuses. 

Perhaps most surprising, players also prioritize rapid payouts over the two pillars of the sports betting experience – odds and the markets a brand offers. 

Safety & preferences

While payments have the power to bring a player’s experience to the next level, they can also play their part in combating illegal activity such as fraud and money laundering. 

Players can be targeted by fraudsters attempting to steal their financial information with the aim of turning a quick profit. The US igaming industry is also subject to large amounts of fraud at the individual level, as some bettors may claim chargeback fraud on their deposits to make up for losses.

As regulators continue to work on making the online betting industry as safe and successful as possible, payment providers have the tools to reduce the risk of fraud.

Payments technology also has the power to harness all of a customer’s data to tailor experiences to their individual needs and wants. With payment data, operators can adjust facets of their checkouts to reflect customer behavior, which also can help combat fraud or unusual activity. 

The key to long-term loyalty

As the online sports-betting industry in the US continues to expand, it’s important for operators to understand how to best leverage payments technology to attract and retain players. 

As it becomes increasingly difficult to get a customer’s attention, payments pose a clear opportunity for operators to separate themselves from their competitors and embrace what consumers are looking for out of their betting experience. 

Meanwhile, ensuring quick payouts is just as important as offering a number of ways to pay when it comes to retention, while innovations in payment technology can help protect against fraud and cybercrime. 

By offering more options at the proverbial checkout and increasing the rate of payment acceptance through alternative payment methods, operators will be well positioned to see their player acquisition rates grow alongside market demand. 

Zak Cutler is the CEO of North America iGaming at Paysafe. He is a regulated US online gaming executive with a proven track record in strategy and corporate development. Before Paysafe, Zak worked at both Jackpocket, an innovative app enabling players to buy state lottery tickets online, and DraftKings, where he was responsible for all product initiatives related to payment processing, U.S. compliance, and international expansion. 

Reports emerged this week that Parimatch Tech would suspend or terminate its deal with Chelsea due to the club’s ownership by Roman Abramovich, the Russian oligarch who has reported links with Russian President Vladimir Putin.

In recent weeks, Abramovich has been handed a series of sanctions by the UK and Europe. Among these were the freezing of his assets in the UK, including Chelsea, in response to the Russian invasion of Ukraine. This meant that Chelsea had been unable to perform revenue-generating activities such as the sale of tickets, and certain partners such as mobile phone network 3 suspended marketing deals in response.

Parimatch Tech has been vocally critical of the invasion and has announced a series of its own measures to support people in Ukraine.

However, Parimatch Tech said that while it would scale back joint marketing activity with the club in order to focus more on its efforts in Ukraine, it would remain in partnership with the team.

The two parties entered into the partnership in August last year, with the deal running to the 2023-24 season.

“A few reports on Parimatch’s partnership with Chelsea have appeared in the media — sadly, our position has been misinterpreted in a few publications,” Parimatch Tech told iGB.

“Parimatch is not terminating or suspending the contract with Chelsea FC. We are limiting our joint marketing and brand campaigns to focus all our efforts on helping Ukraine.

“All of our current activity in the public domain is aimed at raising awareness about the war. And we intend to use the resources at hand, including the club’s LED display systems, to promote our volunteering and donation activities.”

Earlier this month, Parimatch Tech announced it was to withdraw its franchise from Russia in response to the invasion of Ukraine. Betring LLC had been operating the Parimatch brand in Russia under a deal agreed with Parimatch Tech in 2016, whereby all rights to use the Parimatch trademark in the country were transferred to Betring.

However, Parimatch Tech has sent termination documents to Betring to cease operating the brand in Russia. 

Parimatch Tech has also committed UAH60m (£1.5m/€1.8m/$2.0m) to helping people in Ukraine amid the ongoing invasion. The business initially set aside UAH30m to help Ukrainians but increased this amount to provide additional assistance. 

The provider has already spent UAH42m, including UAH39m on ammunition and UAH3m on medicines.

In addition, the business’s Parimatch Foundation non-profit launched a charitable fundraiser to help purchase and deliver food and medicine, as well as to assist with the evacuation of victims.

The Parimatch brand was founded in Ukraine in 1994 and the main development centre of Parimatch Tech is currently located in the country’s capital, Kyiv.

In the piece, Skarplöth (pictured) said: “For the suspended player who suffers from gambling addiction, the licensed gambling market is thus closed, but the door to the unlicensed gambling market is still wide open.

“In other words, the paradox is that a voluntary shutdown from the regulated market risks becoming an involuntary way into a market with no other rules than to entice the player to play more.”

The post comes soon after regulator Spelinspektionen published its annual report. It found that revenue for licensed Swedish gaming operators increased by 5% last year to SEK26bn. The number of suspensions on Spelpaus.se also increased.

At the end of the fourth quarter, approximately 70,000 people had self-excluded via the tool, also up by 5%.

After a roundtable meeting with gambling addiction researchers and therapists of gambling problems, Skarplöth said he came to the conclusion that an important part of consumer protection is still being missed. He said that players should be shut off from the entire gambling market and passed immediately to someone who can help and guide on responsible gambling.

He ended the piece stating “In the meantime, a quiet tip to Spelinspektionen is to change its message to something like; ‘Spelpaus is not the solution to your problem, but the fact that you are shutting down shows that you understand that you need help. That’s an important first step.’”

ATG was originally the exclusive provider of horse betting, until in 2018 when it expanded after a market re-regulation and now operates in sports betting and casino as well.

Inspired has received a gaming-related supplier licence from the Alcohol and Gaming Commission of Ontario (AGCO) and plans to launch its portfolio of iGaming products in Ontario early in the second quarter of 2022. The gaming market in Ontario is to go live on 4 April.

The licence authorises Inspired to offer its games to AGCO-approved operators serving the province of Ontario. Inspired said it will have 25 games certified in time for the market launch, including leading titles such as Big Spin Bonus.

Claire Osborne, vice-president of interactive at Inspired, said, “Ontario’s iGaming market officially opens to licensed operators on 4 April 2022, and we couldn’t be more excited to be a part of the newly regulated igaming market.

“With a population of nearly 15 million people, Ontario’s demographics compare favorably to states like New Jersey or Michigan where we already operate. We expect Ontario to present a significant market opportunity for us, and we look forward to players in Ontario enjoying our games.”

Inspired already has a presence in Canada as it provides online casino content to Loto-Québec.

Inspired also has several partnerships in many regulated markets in the US, including New Jersey, Michigan and Connecticut.

AGCO has already issued licences to a number of operators ahead of the market opening in April. Hillside (Bet365) and Flutter Entertainment-owned FanDuel and Unibet are among those to have been given permits to operate. Supplier licences have been obtained by businesses including Play’n Go and High 5 Games.

The launch of the market next month will conclude a process that dates back to April 2019, when the province’s government announced plans to end Ontario Lottery and Gaming Corporation’s monopoly on igaming, opening up the market to private operators. It then moved forward with these plans in November 2020, with legislation introduced and passed in 2021.