Betsson Group Presents Newest Global Marketing Concept; Excitement Of Betting More Valuable Than Big Wins

betsson_launches_new_gloal_marketing_conceptBetsson Group, in addition to commemorating 60 years in 2023, is now debuting its latest international marketing concept named “A bet makes the difference.” Additionally, this concept is all about strengthening the previous message that wagering is more about increasing enthusiasm rather than huge wins. However, the latest commercials, first and foremost produced in-house, are Betsson’s most aspiring production to date and will originally appear in more than 10 countries in Latin American and Europe.

Establishment of an internal global creative center

Betsson, the flagship brand of the Betsson Group, has not so long ago experienced a notable growth, especially in Latin America, where it also not so long ago officially became the “main sponsor” of the iconic Argentine football club, Boca Juniors. In this regard, speaking about the mentioned marketing concept, CEO of Betsson Group, Jesper Svensson, commented: “As we expand our presence across various markets, we have established an in-house international creative hub. I am really excited to unveil our most ambitious commercial yet, solidifying Betsson as the most exciting brand in the industry.”

Moreover, the essence of this concept emphasizes that “the inherent excitement of betting is more important than fixating solely on winnings.” On that note, Global Brand Director of Betsson, Kay Höök, said: “While we can’t control the excitement of a match or guarantee wins, we can assure our customers that placing a bet, small or big, will amplify the excitement. While many other betting companies focus on big, quick wins, our emphasis lies in cherishing the excitement itself and the heightened entertainment that a bet provides.”

Commercials description

To highlight the mentioned message, the commercials show how an apparently ordinary and silly match turns into an outstanding and highly exciting experience when one person in the audience decides to place a bet. The plot of the commercials, directed by award-winning director Rodrigo Saavedra (Immigrant), take place in a “dramatically charged setting,” while production of the film is almost identical to the renowned international lifestyle brand. However, even if it is a casino, the commercials tend to emphasize the enthusiasm of betting as a form of entertainment, rather than “the more typical focus on winning moments.”

On that note, Höök further adds: “Our goal is to enhance the entertainment value and intensify the excitement for our customers. While potential winnings remain a possibility, we don’t want the prospect of winning to define our communication. Our message is that when you gamble responsibly, you will enjoy the excitement even if you don’t win.”

Additionally, for the group, this unique international marketing concept represents an important step towards modifying the industry scene and reformulating the core of entertainment via responsible engagement.

Source: “Betsson Launches New Global Marketing Concept”. European Gaming. August 21, 2023

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Kentucky Sports Betting Sign-ups Begin This Month

Online sportsbooks in Kentucky won’t be open until the end of September, but officials said today that residents will be able to register for accounts by the end of this month.

Kentucky sports betting
On March 31, Kentucky Gov. Andy Beshear (seated) held a ceremonial signing for House Bill 551, which legalizes sports betting in the state. This week, the governor announced a timeline for sportsbook sign-ups. (Image: Gov. Andy Beshear/Twitter)

“The countdown is on. We are just three weeks away from sports wagering in Kentucky,” Gov. Andy Beshear said in a news release Thursday. “We are ready to deliver the quality entertainment experience Kentuckians asked for while bringing money to the state to support pensions and free up funds that can be used to build a better Kentucky.”

Seven online sportsbooks submitted license applications earlier this month: Bet365, BetMGM, Caesars, Circa, DraftKings, FanDuel, and Penn Sports Interactive.  Kentucky’s sports betting law allows up to 27 online licenses, three for each of its nine-horse racetracks.

Seven racetracks submitted applications for brick-and-mortar sportsbooks: Churchill Downs in Louisville, Ellis Park in Henderson, Oak Grove Gaming and Racing in  Oak Grove, The Red Mile in Lexington, Turfway Park in Florence, and two soon-to-open racetracks, Cumberland Run in Corbin, and Sandy’s Gaming and Racing in Ashland.

Winners Decided Next Week

The Kentucky Horse Racing Commission will decide on which operators to approve at its Aug. 22 meeting. Sign-ups for approved online sportsbooks will begin by Aug. 28.

Betting in the Bluegrass State begins a week later, on Sept. 7, but only at in-person facilities. Beshar, a bipartisan sports betting law champion, has said he will be proud to place the first bet that day, which is the first of the NFL season.

Online sportsbooks will be able to begin accepting deposits from customers on Sept. 7, but actual betting will have to wait three weeks, until Sept. 28.

Tiered Implementation

Kentucky is taking a tiered approach to implementing its new sports betting law to test policies and procedures at brick-and-mortar sportsbooks before mobile applications begin accepting bets.

The KHRC is excited to open sports wagering and is working efficiently to meet the necessary deadlines,” Chairman Jonathan Rabinowitz said in a statement. “This is a careful process dedicated to wagering integrity and protecting bettors in the state of Kentucky.”

Officials estimate Kentucky will earn $23 million in annual tax revenue once its sports betting law is fully implemented. Online sportsbooks are taxed at a rate of 14.25%, while brick-and-mortar facilities pay 9.75%.

Kentucky will send 2.5% of the proceeds to a newly created problem gambling fund.

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Genius Sports Could Be Hidden Gem Among Sports Betting Stocks

Shares of sports betting data provider Genius Sports (NYSE: GENI) are higher by nearly 57% year-to-date and on May 26, closed at the highest levels since February. A sell-side analyst believes the stock has more upside ahead.

Genius Sports
Genius Sports appears on the screens of the NYSE after it went public. An analyst says the stock can deliver more upside. (Image: Genius Sports)

In a recent note to clients, Lake Street Capital markets analyst Eric Martinuzzi initiated coverage of Genius Sports with “buy” rating and a $7 price target. That implies upside of 25% from the May 26 close. That’s slightly below the Wall Street consensus of $7.50, but Martinuzzi is now one of nine analysts covering Genius with a “buy” or “strong buy” rating. Another calls the stock a “hold.”

The analyst described Genius as a “picks and shovels player” that markets live betting data and “other sticky services” to global sportsbook operators, including Bet365 and DraftKings (NASDAQ: DKNG), among others. Some analysts believe the stock  could benefit from bettors’ increasing preference for in-game or live wagers over pregame investments.

That thesis could further be enhanced by same-game parlays — bets operators such as DraftKings and FanDuel are leveraging to significant success.

Genius ‘Baby’ Thrown Out with ‘SPACwater’

London-based Genius Sports went publicly in April 2021 following a reverse merger with special purpose acquisition company (SPAC) dMY Technology Group, Inc. II. The stock caught some of the tail-end of investors’ enthusiasm for SPAC and sports betting stocks, but slumped last year as market participants punished equities previously tied to blank-check companies.

At one point in 2021, Genius traded north of $24 and Martinuzzi describes the subsequent tumble experienced by the stock as a case of the “Genius baby being thrown out with the SPACwater.”

Genius is on the cusp of turning free cash flow positive and is growing faster than its higher-valued peers,” wrote the Lake Capital analyst. “We also feel it has better rights relationships — NFL, English Premier League — and offers faster profit growth than data licensing competitor Sportradar. We anticipate Genius showing fundamental outperformance driven by a decade-plus growth in U.S. sports betting as more states legalize online gambling.”

Genius hovering around profitability and generating free cash flow are noteworthy traits if for no other reason than that they’re rare in the universe of sports betting equities.

Genius Sports Impressive Client Roster

Martinuzzi is right to mention Genius Sports’ client portfolio — a roster that includes not only the English Premier League and the NFL, but the PGA Tour, Major League Baseball (MLB), the NCAA and Euroleague Basketball, among others.

In addition to the NFL itself, which is also a major Genius shareholder, several of the league’s teams are Genius clients as are some of the biggest names in sports broadcasting, including ESPN.

Beyond Bet365 and DraftKings, Genius’s other sprotsbook clients include 888 Sports, BetMGM and Caesars, according to the data provider’s website.

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SZTFH Decree Massages Hungary’s Online Betting Operator Rules

sztfh_decree_massages_hungarys_online_betting_operator_rulesWith a ruling party super-majority in the Parliament of Hungary, simply pulling the levers of powers should be enough to move any desired legislation through the political process in a normal and legal manner. However, for well over 2,500 days now the government has used that absolute majority to do some things without transparent debate or utilizing other hallmarks of liberal democracy – instead relying on simple decrees to accomplish the State’s business.

That’s not to say that the emergency powers completely constipate the government, as can be seen in the online gambling industry through the lens of the country’s Gambling Act – something Hungary has been “trying to get right” since the Court of Justice of the European Union (CJEU) issued rulings in 2016 and in 2017 which should encourage the government to come into compliance not to infringe the freedom to provide services (Article 56 TFEU) or grant non-competitive concessions.

The Supervisory Authority for Regulatory Affairs (SZTFH) has recently issued a decree implementing minor changes to allow amendments to the country’s Gambling Act to function more fairly or efficiently.

Technical Clarifications, Fees

Operators who wish to offer online sportsbetting there must meet certain financial requirements and prove up at least five years of experience offering licensed online gambling services in a European Economic Area state. Any operator who has offered unlicensed gaming within five years of the dated application will be rejected from consideration for a license.

In an attempt to protect bettors from harm, operators will be able to offer early cashouts on sports betting wins but the operator must warn the player about the immediate gratification of such an action as it could contribute to gambling addiction.

The decree reads: “The gambling operator is obliged to expressly draw the player’s attention to the fact that the use of this function entails an increased risk of excessive gambling and addiction and this information shall appear in the text of promotion in the same font size as the text.”

It continues: “The gambling operator shall also make available to the player on the gambling website the information that the use of that function entails an increased risk of excessive gambling and addiction.”

In order to facilitate early cashouts bettors will now be allowed to have segmented account balances rather than one master balance.

Early cashouts are subject to any regular terms and conditions of other withdrawals.

Recent History of Changes

Early last year, legislation was introduced to help Hungary come into compliance with anti-monopoly measures that should promote a more free and open market as many nearby EU states have done. At the dawn of 2023, several conditions or technical changes were made that could apply to casino operators as well as sports betting providers.

However, none of the changes loosen the hold on remote casino licenses that are still tethered directly to the three main land-based operators. While the CJEU ruled in Unibet’s favor in 2016, ostensibly opening the door to other European online casino operators, the land-based casinos can be declared a priority of national economic interest. This allowed budget items in the 2021 work sessions to grant 35-year extensions to the casino licensees without a public tender process.

The workaround used, according to local democracy watchdogs was to re-allocate the concessions as at least half of the original concession period had come to pass. This was purported to assure the state continuity in revenues for the long term.

A government-connected stakeholder in Las Vegas Casino group is operated by Diamond Játékaszinó Üzemeltet? Kft. (LVC Diamond), the most important urban casino operator was originally granted a concession in 2015 that was set to expire in 2024 but now extends to 2056.

Our research does not find any mechanism in legislative accomplishments or decrees that would untether online casino licenses in Hungary from land-based operator licenses so it would appear as if at least one operator is locked in.

The LVC Diamond properties include The Atlantis, Atrium Eurocenter, Corvin Promenade, Sofitel, and Tropicana casinos.

Tax Authority Retaliated Against Operator for Lawsuit

One thing the Unibet lawsuit did accomplish was to tease out a CJEU ruling that recognizes Hungary’s online gambling rules did not allow the taxing authority to take retaliatory actions against other EU-licensed operators as it did in response to Unibet filing suit. Those actions included ordering ISPs to block access to the site and the levying of fines against the operator and its parent company, Kindred Group.

In short, while the process for licensing land-based casinos and thus their tethered counterparts online may not be in line with EU standards, there isn’t much, if anything standing in the way of a Malta Gaming Authority-licensed casino offering services there.

So far, SZTFH has not authorized any foreign operators to offer sports betting with all regulated consumer traffic still flowing through Tippmixpro.hu – operated by the former and still a de facto monopoly of Szerencsejáték Zrt.

Source: Hungary regulator implements new Gambling Act amendments, iGaming Business, March 29, 2023

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Georgia Sports Betting Study Bill Introduced to Consider ‘Robust Wagering Ecosystem’

Georgia sports betting efforts failed once again during the state’s 2023 legislative session. But not all hope is lost for those who wish to bet legally on college and pro sports in the Peach State.

Georgia sports betting resolution bill
The Senate floor in the Georgia State Capitol in Atlanta. Georgia sports betting won’t be legalized in 2023, but efforts to solidify a path to legalization next year are being laid. (Image: AP)

A little more than two weeks after the odds lengthened significantly that a Senate bill seeking to authorize sports betting would advance in the Atlanta capital this year, five state Senators introduced a measure to establish a sports betting study committee.

Senate Resolution 394, a moderate bipartisan statute co-sponsored by four Republicans and a single Democrat, would create the “Senate Study Committee on the Creation of a Robust Wagering Ecosystem in the State of Georgia.” The resolution is sponsored by state Sens. Carden Summers (R-Crisp), Bill Cowsert (R-Athens), Lee Anderson (R-Columbia), Michael Dugan (R-Carroll), and Jason Esteves (D-Cobb).

Prominent gaming attorney Daniel Wallach was one of the first to break the news regarding the Georgia sports betting study bill being introduced to the state Senate.

Should the resolution find support in the Senate and House chambers, and eventually be signed by Gov. Brian Kemp (R), a 10-member sports betting study agency would be formed. The primary mission of the group would be to determine whether a constitutional amendment is needed to authorize gambling on sports.

Legal Debate Paramount

State lawmakers have expressed varying opinions on the legal process of expanding gambling. Georgia is one of the most restrictive states when it comes to permissible gaming.

Georgia is home only to a state-run lottery and certain charitable games. The state otherwise has no tribal or commercial casinos, pari-mutuel wagering, racinos, sports betting, or iGaming.

Backers of authorizing sports gambling say a constitutional amendment isn’t needed, as sports betting could fall under the scope of the Georgia Lottery. That view is shared by Harold Melton, the former chief justice of the Georgia Supreme Court, who at the request of the Metro Atlanta Chamber of Commerce in January issued his opinion on the sports betting path to legalization.

Other state lawmakers, however, aren’t so sure. They believe that the state should have a clearer legal stance before considering such a controversial matter.

Georgia senators in early March voted 37-19 against a bill to legalize online sports betting and in-person wagering at self-service kiosks. A similar bill in the House stalled in a committee as the state’s legislative deadline to pass new legislation in 2023 came and went earlier this month.

A Senate resolution to place a legislative-led ballot referendum asking Georgians if they want to allow sports betting also stalled in committee this month, though it was widely believed that the chamber didn’t have anywhere near the required two-thirds majority support to move the statute forward.

2024 Resolution

Since SR394 isn’t a bill that would permanently change the law, the Senate and House might still act on the statute. If the members do pass the resolution and create the study group, the sports betting committee would have until December 1 to present the state with its conclusions and make legislative recommendations.

“The committee shall adopt specific findings or recommendations that include proposed legislation, and the chairperson shall file a report of the same prior to the date of abolishment specified in this resolution,” the resolution text reads.

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