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UK Announces Liberalising Measures for Gambling Venues

uk-to-liberalise-rules-for-gambling-venues-in-light-of-online-growthThe United Kingdom is set to introduce a series of liberalising measures aimed at enhancing the appeal of land-based gambling venues such as casinos, bingo halls, and arcades. This initiative is part of a broader strategy to ensure these establishments remain competitive with the rapidly expanding online betting and gaming sector.

In a written statement to lawmakers on Thursday, Minister Stuart Andrew highlighted the necessity of updating “the outdated and overly restrictive regulations” that currently govern land-based gambling. The objective is to align these venues more closely with modern payment practices and consumer behaviors.

Changes to Apply to Debit Card Payments Ban

One of the key changes will be the removal of the ban on direct debit card payments for gaming machines. This adjustment acknowledges the significant increase in the use of non-cash payments and aims to simplify transactions for players. Alongside this, the government will introduce new player protection measures to ensure responsible gambling practices are maintained.

Additionally, the reforms will allow certain casinos to increase the number of gaming machines they offer. Bingo halls and arcades will also benefit, with permission to host a higher number of larger stake gaming machines. These changes are designed to make these venues more attractive to patrons by offering a greater variety of gaming options.

Updating Fee Structure for Gambling Premise Licenses

An important aspect of the reforms is the adjustment of the maximum cap on fees that authorities can charge for gambling premises licences. The cap will be increased by 15%, addressing a fee structure that has remained unchanged since 2007. This update is intended to provide local authorities with more resources to manage and regulate gambling establishments effectively.

In the government statement, it was emphasized that these measures aim to support the land-based gambling sector while modernizing current restrictions. “Together we believe these measures will support the land-based gambling sector and modernise the current outdated restrictions, as well as helping to protect young people and supporting licensing authorities,” the statement read.

These proposed changes follow a series of reforms introduced a year ago targeting the online gambling industry. Those reforms included new online stake limits and enhanced affordability checks to combat problem gambling. The government’s approach underscores a commitment to balance the growth of both online and land-based gambling sectors while ensuring robust player protections are in place.

Reforms to Attempt to Revitalize the Land-Based Sector

The modernization of regulations for physical gambling venues is seen as a necessary step to keep up with technological advancements and shifting consumer preferences. By embracing these changes, the government hopes to revitalize the land-based gambling industry, making it more resilient and adaptable in a rapidly evolving landscape.

As the UK gambling sector continues to evolve, these liberalising measures are expected to provide a much-needed boost to traditional gambling venues. By addressing outdated regulations and enhancing the variety and convenience of gaming options, the government aims to foster a more vibrant and competitive environment for both operators and players.

Source: “UK to liberalise rules for gambling venues in light of online growth”. Reuters. May 16, 2024.

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SOFTSWISS Game Aggregator Proudly Announces the Introduction Of Live Game Tournaments

SOFTSWISS_game_aggregator_launches_live_game_tournamentsSOFTSWISS, a renowned content hub in the iGaming industry, has recently unveiled a highly anticipated update to its Tournament Tool: live game tournaments. This latest feature marks a significant expansion of the tool’s capabilities, leveraging the successful model of slot tournaments to further enhance player engagement. Internal studies conducted by SOFTSWISS have revealed a notable 22% increase in average daily bets per user since the introduction of the Tournament Tool.

Customized Tournaments Catering to Diverse Player Preferences

One of the key highlights of this update is the ability for operators to customize tournaments to cater to different player segments. While live games are favored by players seeking direct dealer-player interaction and real-time experiences, slot enthusiasts constitute another significant player segment. Despite these differing preferences, both groups share a common interest in competitiveness and social interaction within the gaming environment.

With the implementation of live game tournaments, operators now enjoy enhanced flexibility in managing tournaments. They can precisely select participating casinos, target specific countries, and curate a diverse range of games using the intuitive game search bar and provider filter available in the back office. Additionally, operators have the option to concurrently run live game tournaments alongside slot tournaments or even organize mixed tournaments that seamlessly blend slots and live games.

The Tournament Tool’s updated interface offers a seamless and intuitive user experience, enabling operators to effectively communicate gaming campaigns to players. It provides real-time updates on ongoing and past events, comprehensive tournament rules, and features a dynamic leaderboard widget for players to easily track their standings throughout the competition.

Accessible Innovation for All Game Aggregator Clients

It’s essential to note that this groundbreaking update is accessible to all Game Aggregator clients. This inclusivity ensures that operators of varying scales can leverage the Tournament Tool’s advanced features to enhance player engagement, promote healthy competition, and ultimately elevate the overall gaming experience.

The introduction of live game tournaments within the Tournament Tool by SOFTSWISS represents a pivotal advancement in the iGaming landscape. This innovative feature empowers operators with tailored tools to meet diverse player preferences, foster social interaction, and drive sustained engagement across multiple gaming segments.

Tatyana Kaminskaya, Head of SOFTSWISS Game Aggregator, highlights: “We closely monitor the market and analyse our customers’ feedback to develop features that meet their needs. Tournaments for live games such as blackjack, roulette, and poker immerse players in a special competitive atmosphere that aligns with the gamification trend. In the future, we plan to add other types of games, enabling our clients to build successful businesses that cater to a broader range of player segments.”

Source:

”SOFTSWISS Game Aggregator Launches Live Game Tournaments”, europeangaming.eu, April 09, 2024.

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Games Global Announces That Mega Moolah Jackpot Has Created Another Millionaire

games_global_progressive_jackpot_mega_moolah_awards_e6_6_million_Games Global, the famous international supplier of gaming content for online casinos, has announced that its legendary Mega Moolah Mega Jackpot has created another millionaire after a lucky player grabbed 6.6 million euros after having hit the jackpot.

The exact sum that the player won on Mega Moolah was 6,689,308 euros and the bet that triggered the win was worth just 3 euros. This is the first Mega Moolah Mega Jackpot won since the start of the year, the last time it was won was on 24 December 2023 and that hit was worth 13.5 million euros.

Mega Moolah and its progressive jackpot has been on the market for over 17 years as the game was launched all the way back in November 2006. Since then, the legendary online casino game had ten jackpot winners and awarded prizes worth more than 700 million euros.

The game has four reels and 25 paylines and it features wild symbols that can double wins, free spins bonuses that triple wins, plus four different Mega Moolah progressive jackpot tiers.

Games Global has built a reputation for paying out large sums of money on progressive jackpots. Moreover, the gaming content supplier boasts an impressive win ratio in its games with a winning spin coming every 14 seconds on average.

Huge Jackpot Hit Before Christmas

Before the end of 2023 Games Global set a new record that will be extremely hard to beat as a lucky player managed to hit its WowPot! progressive jackpot and take home a whopping 38.4 million euros!

That landmark win set a new record for the industry and crushed the previous record which was recorded on the Mega Moolah jackpot and was worth 19.4 million euros. The lucky hit came on Wheel of Wishes, a game that was launched in 2020.

Games Global has an entire network of progressive jackpots, alongside WowPot and Mega Moolah the company also offers Maple Moolah for the Canadian province of Ontario and King Millions, a brand new product which was launched in July 2023. King Millions has also been made available in Ontario in November 2023.

Source:

“Games Global progressive jackpot Mega Moolah™ awards €6.6 million“, gamesglobal.com, March 6, 2024.

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SOFTSWISS Announces Results of Its Cryptocurrency Research, Its Popularity Increases

As technology advances, cryptocurrencies become more and more popular. According to the recent SOFTSWISS research, in 2023 the number of people who use crypto to place their bets increased by more than 20%.

Changes in the iGaming landscape

time_to_invest_in_crypt_softswiss_2023_igaming_market_overview (1)Current predictions say that by 2030 the iGaming market will double, and the estimated compound annual growth rate would be 11.7%. When it comes to revenue, it is estimated that it will reach 140 billion euros.

SOFTSWISS, one of the leaders in the field of crypto iGaming software development, researched the crypto market and gathered data from more than 600 brands. According to the research, the iGaming market is thriving on a global level – Total Bet Sum recorded annual growth of 38.2%, while Total Bet Count increased by 51.2%.

However, the average bet decreased, and one of the main reasons is an expansion of iGaming across smaller markets, so the decrease is more significant in markets such as Latin America and Africa. On top of that, increased internet availability across the globe, as well as incorporating modern technologies, affected the final result. Another important factor is the growing popularity of iGaming among players under 30, who have limited budgets.

As the research, which began in 2022, has proven, fiat bets are still more popular, and their number is growing faster than crypto bets. Crypto Bet Sum increased by 8.2% in Q4 of 2023, and Fiat Bet Sum recorded an increase of 16.4% annually. Crypto bets were 27.5% of Total Bets Sum in 2023, which is a decrease of 3.9 p.p.

Comparing 2023 to 2022, the Crypto Bet Sum increased by 21.1%, while the Crypto Bet Count increased by 50.5%.

Vitali Matsukevich, Chief Operating Officer at SOFTSWISS, commented: “The advantages of employing digital currencies, such as swift transactions and anonymity, are key drivers for many players. Given these dynamics, the market demands expanding iGaming projects’ opportunities for crypto players. The in-game currency conversion, for example, allows operators to engage players with cryptocurrency assets in games initially designed for fiat transactions. The projects that embrace such possibilities continue gaining more advantageous market positions.”

Most popular cryptocurrencies

In 2023, the average fiat bet was around 0.82 euros, and the crypto bet has been fluctuating between 1.59 and 1.88 euros, but it was more stable than it was in 2022.

The most popular cryptocurrencies in 2023 were Bitcoin (73.3%), Ethereum (9.9%), Litecoin (6.6%), Tether (4.6%), and Dogecoin (3.1%).

Bitcoin is still the most popular cryptocurrency, but compared to the third quarter of 2023, it decreased by 5.7 p.p. On the other hand, Ethereum grew by 4.7 p.p. and Litecoin increased by 2.2 p.p.

Matsukevich commented on this: The digital currencies market is rapidly expanding, with estimates showing over 50% growth in capitalization in 2023. Despite the risks caused by the high volatility of crypto and its dependence on various factors, using it can bring extra profits for operators. The iGaming industry is promising for investments due to growth in both fiat and crypto markets, but success depends on trustworthy and experienced partners.”

Source: “Time to Invest in Crypto? SOFTSWISS 2023 iGaming Market Overview”. Softswiss. February 28, 2024.

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BetMGM Announces Exclusive Partnership with Elon Musk’s X

betmgm_announces_partnership_with_elon_musksXBetMGM, the famous international sports betting and iGaming operator, has announced the establishment of a strategic partnership with X, the huge social network formerly known as Twitter before it was acquired by billionaire Elon Musk.

The agreement will see BetMGM become the exclusive live odds and sports betting partner for X. This is the very first partnership of this kind between a large sports betting and online casino operator and a global social media brand. The odds provided by BetMGM and the operator’s branding will be integrated into X, with each game linking back to the BetMGM mobile application or to its website.

This deal has immense potential for BetMGM because a massive number of sports fans discuss the games of their favorite teams on X. Moreover, news about teams and top athletes are frequently first announced on X, making it a very popular place for sports enthusiasts.

An Unprecedented Opportunity

Adam Greenblatt, the Chief Executive Officer of BetMGM, described X as “the center of the sports world’s conversation 24 hours a day, seven days a week” and admitted that having the operator’s website and application directly accessible from the social media platform is “an unprecedented opportunity to expand” the company’s reach.

Linda Yaccarino, the Chief Executive Officer of X, said that “sports never sleep” on the social media platform and added that the strategic partnership with BetMGM places fans “practically in the front row” at their favorite competitions.

The partnership is mainly aimed at users in the United States who can take advantage of BetMGM’s latest betting odds on professional football, while the other major professional and college sports will follow in the coming weeks. The odds interface gives users a quick way to get into the application or website operated by BetMGM, but the integration between the two platforms will further evolve in the coming months with the addition of new features and functionality.

A Major Player in the Industry

BetMGM was founded in 2018 and it is headquartered in New Jersey. The company was formed as a result of the partnership between MGM Resorts International, the well-known casino operator and entertainment company, and Entain, one the biggest sports betting companies in the world. B

BetMGM has exclusive access to all of MGM’s land-based and online sports betting operations in the United States, along with major poker tournaments and online gaming businesses. The company offers sports betting and online gaming through various prominent brands including BetMGM, Borgata Casino, Party Casino and Party Poker.

Source: “BetMGM and X Sign Exclusive Sports Betting Partnership“. BetMGM. February 9, 2024.

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