Paddy Power Betfair confirms FanDuel talks

first_img Regions: US Paddy Power Betfair has confirmed reports that it has opened discussions over the potential acquisition of daily fantasy sports (DFS) company FanDuel Paddy Power Betfair confirms FanDuel talks Tags: Fantasy Sports Mobile Online Gambling 17th May 2018 | By contenteditor DFS Email Address Paddy Power Betfair has confirmed reports that it has opened discussions over the potential acquisition of daily fantasy sports (DFS) company FanDuel. This week, reports linked Paddy Power Betfair with a move for the DFS operator in the wake of the US Supreme Court voting to overturn a federal ban on sports betting in the US. FanDuel had previously spoken about its plans to launch a sports betting service should the Supreme Court overturn the federal 1992 Professional and Amateur Sports Protection Act (PASPA), which blocked most US states from offering regulated sports betting. Paddy Power Betfair said that should it reach an agreement with FanDuel, it could merge its own US business and the DFS brand to “create a combined business to target the prospective US sports betting market” In a statement, Paddy Power Betfair added: “Discussions are ongoing and there is no certainty as to whether agreement will be reached, or as to the terms or timing of any transaction. “A further announcement will be made as appropriate.”Related article: Paddy Power Betfair eyes FanDuel acquisition Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Finance Sports betting Strategy DFSlast_img read more

The law of the category

first_img The law of the category In the latest instalment of his 24-part series on marketing, Nick Garner explains why if you can’t be first in a category, you should create a category of your own.Last time we talked about the law of leadership, where it’s better to be first in a market category than to arrive late.The catch with the law of leadership is there’s only space for one ‘first winner’. If you are ‘everybody else’, the only thing you can do is follow the law of category.Most people think in terms of brands.  Marketing strategists will ask ‘how can I persuade consumers to move to my [generic online gaming brand]?’.The reality is once a category leader has emerged it’s very difficult to displace them unless they make a huge mistake. Instead, it’s better to look at other new market categories where you can become the ‘first winner’, for example the first breakthrough brand within that category.You could describe a market category as a market with unique characteristics driven by the behaviour of consumers or technology. Or in other words, you could say ‘exchange betting: Betfair’, ‘high street betting: William Hill’, ‘casino game developers: Netent’.Sun Bets’ storyI mentioned Sun Bets previously where Tabcorp, the main investors, had to pay £40m to extract themselves from this failed brand.Some high-level decision-makers probably once thought ‘The Sun newspaper is a big trusted brand, those readers like sports betting, let’s do a Sun branded igaming operation.’Sun Bets tried to innovate by running novelty bets. This idea came to an abrupt halt when the UK fined them £84,000 for the notorious Piegate novelty bet incident.Bets were on whether Sutton United FC goalkeeper Wayne Shaw would eat a pie on the sidelines of a February 2017 football match against Arsenal.It seems Sun Bets tried to take on a huge market category; mainstream sports betting and attempted to innovate by developing a subcategory around novelty bets to resonate with The Sun newspaper’s readership but ultimately it was a fail. The question is… had the decision-makers at Sun Bets followed the law of category, what would they have done?They could have developed a hybrid off-line/online strategy for that market segment who still enjoys physical newspapers, coupons and so on.A confluence between a huge, but declining tabloid newspaper and some kind of online sports betting concept could have created its own category which they could have dominated in.Confusion with USPWe often hear the term unique selling proposition, or USP. On one level a USP is simply a feature or benefit of a product or service. USP isn’t necessarily a big enough ‘thing’ to denote a whole market category.For example, I previously talked about smart phones and mobile igaming. At the beginning of our journey with smart phones back in 2006, a USP for brand might be ‘we have a mobile friendly website’.However, smart phones ended up getting huge traction and the marketplace grew to the point that ‘mobile igaming’ is not a unique selling proposition, it’s a whole market category that’s critical to the future of igaming.As with every market category, there are winners and with mobile-first betting the winner was Leo Vegas. If you’re late to the party and you’re not a ‘first winner’, then ideally you create your own market category. If you can’t create your own category, at least enter a category that’s immature where you have a competitive advantage.The critical thing is to get in early enough that you have a competitive advantage. If you can’t get in early enough, you could buy the early category leader business out or just not try to hit that market.For me a good market subcategory is one where you have the knowledge to know a trend is sustainable and you have the resources to get in early without killing your business if the bet doesn’t pay off.Previously I talked about market turbulence caused by technology innovation and legislative change. Wherever there is market turbulence, there will be opportunity.When I think about turbulence in the marketplace, increasing gambling legislation is a huge driver for change. Old incumbent winner brands thrive off legal complexity, and a lack of innovation because they have the money to handle complex licensing issues for multiple country territories and they know how slow consumers are to change behaviour. If you’re not a big player, the new era of licensed igaming is going to be very challenging.But, there are other markets. The world is getting richer and smartphone adoption keeps rising in developing countries. Gambling is an innate desire in all of us, whether it’s a lottery ticket, a bet or a spin on a slots game. With that backdrop there are a huge number of emerging market categories.It’s just a case of looking at the marketplace you know, reading up on what related innovations are coming through and sooner or later, something very interesting will come your way.My main point is when you start looking at any marketplace and you see a market need that isn’t dominated by some other brand, that’s when you’ve got an opportunity. In effect you’re creating your own subcategory.Being the first winner is a huge competitive advantage. If you can’t be the first winner in a category, tackle a smaller market segment and go for that.In the next instalment I’m going to talk about the law of mind, where it is often better to be first in the mind than to be very first in the marketplace.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. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Bingo In the latest instalment of his 24-part series on marketing, Nick Garner explains why if you can’t be first in a category, you should create a category of your owncenter_img Email Address Tags: Online Gambling Slot Machines 10th September 2018 | By Hannah Gannage-Stewart Topics: Casino & games Marketing & affiliates Sports betting Bingo Slotslast_img read more

Betsson soars in key Nordics market

first_img Betsson soars in key Nordics market Betsson saw a surge in profits and revenue in Q3 thanks to soaring betting and casino takings across Europe and its key Nordics market.Just months from its launch in Sweden’s reregulated market, Betsson’s trading update for the three months to the end of September showed that revenue in the Nordics – just less than 50% of its business – grew by 19% to SEK 668.2m (€65/$74m), made up of an 18% rise in casino and 25% surge in sportsbook. Its second biggest region, Western Europe, was up 26% to $49.5m.Group revenue was up by just over 20% to $155m, with operating income up a huge 57% to $38m.CEO Pontus Lindwall (pictured) said: “The improved earnings are a result of the scalability in Betsson’s business, showing that improved products and keeping focus on efficiencies results in higher earnings.”Expanding on Lindwall’s comments, the company attributed its revenue increase to a combination of product improvements and more efficient marketing spend. In the third quarter, it focussed on the re-allocation of marketing investments between different markets, and also “in the mix of traditional marketing and affiliate marketing”.Marketing spend was fairly flat compared to Q3 2017 at just less than $28m, however the company said “we expect marketing investments to increase as online gaming licences are introduced in Sweden”.Product improvements included enhancements to its mobile offering which helped that sector grow by 42% to around $105m.Betsson was one of the first companies to apply for a gambling licence in the reregulated Swedish market when the process began in August. The new regime will begin on January 1.Betsson’s share price was up around 3% on the Nasdaq Stockholm following the publication of the Q3 figures. Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Finance 24th October 2018 | By contenteditorcenter_img Topics: Finance Sports betting Business efficiencies help Betsson thrive ahead of Swedish launch Email Address Regions: Europe Nordics Swedenlast_img read more

Turkish government launches sports betting tender

first_img Turkish government launches sports betting tender Lottery Subscribe to the iGaming newsletter Tags: Mobile Online Gambling The Turkish government is accepting proposals from bidders for a new contract to power sports betting for state-owned gaming operator SportToto.The tender is seeking applicants capable of providing a central wagering system and risk management solution for fixed-odds and pari-mutuel betting on sporting events.To secure the ten-year contract, applicants must be able to demonstrate that they have experience of running a sports betting network of at least 500 outlets, with at least 6,000 to be operated throughout Turkey.They will be required to establish the central betting system within Ankara Province, while the risk management centre must also be based on Turkish soil. The successful applicant will also be expected to employ at least 100 staff dedicated to the SporToto project, including management and technical support staff.Bids are to be filed in the form of proposed revenue share agreements, which state what percentage of total revenue raised the applicant is willing to receive in return for operating the fixed-odds betting product.In total, the Turkish government aims to generate 17bn Lira (£2.4bn/€2.7bn/$3.1bn) in revenue from the offering’s first year in operation.However, companies will not be permitted to form consortiums when applying for the tender, though bids from joint venture companies will be accepted. This means the current operator of SporToto’s Iddaa-branded sports betting offering, the Inteltek joint venture of Intralot and local telecommunications giant Turkcell, will be able to make a bid.Inteltek, established in 2001, has served as the exclusive provider of fixed-odds and pari-mutuel betting since 2004, and secured a new, ten-year contract in 2008. It then extended the deal by a year in August 2018. Over the past 11 years, SporToto has seen its share of the country’s sports betting market grow to 56%, with turnover rising to $3.5bn.Last year Inteltek announced that it was to establish a software development hub in Turkey, with a focus on developing new mobile wagering products and services, employing more than 100 staff in the new facility.Bidders have until 09:30 AM on February 11, 2019 to submit their proposals to SporToto.SporToto is one of only two legal gambling operators in Turkey, alongside national lottery operator Millî Piyango İdaresi. A ten-year contract to operate fixed-odds and pari-mutuel wagering on behalf of Turkey’s sports betting and lottery operator SporToto is up for grabs, with the country’s government aiming to generate ₺17bn from first full year after launch. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Address 11th January 2019 | By contenteditor Topics: Lottery Sports betting Regions: Europe Central and Eastern Europe Turkeylast_img read more

Caesars launches SG-powered sportsbook in Pennsylvania

first_img Subscribe to the iGaming newsletter Casino & games Tags: Mobile Online Gambling Race Track and Racino Caesars launches SG-powered sportsbook in Pennsylvania Topics: Casino & games Sports betting Tech & innovation Horse racing Email Address Regions: US Pennsylvania Caesars Entertainment has become the latest operator to go live in the Pennsylvania sports betting market with the launch of its new Scientific Games-powered offering at the Harrah’s Philadelphia Casino and Racetrack.Powered by SG Digital’s OpenBet platform, the sportsbook will initially offer in-person betting at its in-venue sports lounge The Book, with online and mobile services to follow later in the first quarter.The new sportsbook will also benefit from managed trading services courtesy of Don Best, the real-time betting data and pricing supplier that Scientific Games acquired in October last year.Consumers in Pennsylvania can place bets on a range of professional sports, as well as various US collegiate sporting events, at the sportsbook.“We’re excited to open The Book, which allows our players to wager on their favorite professional and college sports events at the region’s most complete game-changing sports betting experience,” Caesars executive vice president of gaming and interactive entertainment Christian Stuart said.“We’ve worked seamlessly with Scientific Games to cement our sportsbook presence in new markets with great speed, and we’re excited to usher in a new era of sports betting capabilities for Pennsylvania players at Caesars.”Scientific Games and Caesars have already launched sportsbooks in two other states since the repeal of PASPA last year.In August 2018, Caesars rolled out sports betting at its Horseshoe Tunica Hotel & Casino and Harrah’s Gulf Coast Hotel & Casino locations in Mississippi, while the company is also working with Scientific Games at its Bally’s Wild Wild West and Harrah’s Atlantic City sites in New Jersey.“This is the third state in which we’ve launched sports betting with Caesars, following in the footsteps of New Jersey and Mississippi, and we’re thrilled to see constant growth in our partnership,” SG Digital executive vice president and group chief executive Jordan Levin said. “Sports betting builds more momentum every day, and we’re proud to partner with Caesars to lead the charge and provide a top-notch solution to players in Pennsylvania.”Harrah’s Philadelphia Casino and Racetrack also becomes the sixth venue to launch legal wagering in Pennsylvania. It joins the William Hill-powered, Penn National Gaming-owned Hollywood Casino at Penn National Racecourse, the Rush Street-operated Rivers and SugarHouse Casinos, and Greenwood Gaming’s Parx Casino and South Philadelphia Turf Club in the market.Image: Baishampayan Ghose AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 28th January 2019 | By contenteditor Caesars Entertainment has become the latest operator to go live in the Pennsylvania sports betting market with the launch of its new Scientific Games-powered offering at the Harrah’s Philadelphia Casino and Racetrack.last_img read more

Overhauling a sports betting offering

first_img Email Address Ebbe Groes, EveryMatrix CEO, is a quick-thinking entrepreneur with a successful track record in launching online ventures. Ebbe founded the company in 2008, and since then he grew the business from a start-up to an established company, currently catering to several Tier-one operators in the iGaming industry.Making the decision to review and renew an entire product is not an easy one, but doing so can make or break businesses in fiercely competitive and dynamic industries such as igaming.iGaming Business spoke to Ebbe Groes, CEO at EveryMatrix to discuss some of the developments the company has recently made to its sports betting product, OddsMatrix.EveryMatrix’ sportsbook was launched in 2009, and Groes says it was the company’s leading product for a number of years. However, as the need for flexibility and enhanced offerings has increased, the company decided to revamp the OddsMatrix product.Groes says: “This is something we did three years ago on our casino product and was a big success.“We basically rewrote OddsMatrix end-to-end, and the last part of this big rewrite project was to kit it out with a new front-end. Also, six to nine months ago, we migrated all clients to a new back-end. It’s been a big undertaking.” Forward facing sportsbook front-endGroes says a key part of the new front-end is the application programming interface (API) that underpins it: “We have built an API that allows any of our clients to interact with it in the exact same way as our own team does. This is quite rare.“The new front-end we’ve built is in HTML and Javascript, which means you don’t have to have servers and databases – you can write the code for the front-end and it can all sit in the users browser in the same way that a mobile app does.”This, he explains, gives the platform a big advantage, and achieves one of EveryMatrix’s key aims for the new front-end – not just to build something clients can replicate, but rather an API they can customise and be creative with.“We have two clients now live with their own front-end. One of our clients, Bookee, built a Tinder-style mobile app for iPhone and Android, in which users can find betting odds, and the other client, Luckbox, is a newly launched esports betting platform. Both are using the OddsMatrix Sportsbook back-end platform, but you would never think it when you compare their front-ends.”Another feature Groes says was crucial to the development was responsiveness: “It’s one front-end, it’s lightweight and it works for both mobile and desktop. This makes it much easier to add new features.”“When we added cash out features recently, implementing this in our new front-end halved the time as it was only one code base. For us, this represents an increase in productivity, and of course offers a better UX for the clients.”Groes expects this freedom will lead in the next two to three years to half of EveryMatrix’s clients using front-ends that they have either fully built themselves or built with the bricks that OddsMatrix has provided them.When you have the opportunity to fully personalise your services in this way, Groes says, you can begin to provide an enhanced experience for your users. Enabling cross-vertical sellingAdditionally, OddsMatrix has introduced a new data feed component, allowing operators to process data in real time into their systems and platforms.Groes sees this kind of development allowing cross-selling from casino players to sports betting. He explains that while you will often see a proposal for casino games on the sidebar of a sportsbook, this is not the case the other way round.As sportsbook or casino providers will be the ones to supply fixed templated frames for these, it has historically not been possible to truly offer a cross vertical experience.“Once you remove that outer layer and allow operators to mix things up, they can do things they couldn’t do before. We want to enable operators to show a small sportsbook on the side of their casino sites, where players could perhaps track their bets, see their winnings and so on.”Groes expects to see a shift in mindset more towards holistic offerings such as this which prioritise the interests and experience of the players. “The most important thing, though, is to leave these decisions in the hands of the operators, and to empower them to make intelligent decisions with the help of data.” Odds aggregationEveryMatrix also built a separate component called the OddsMatrix Aggregator. Groes explains: “What you see in normal sportsbook today is that one of the limitations is that actually, operators would like to check in data from a lot of different sources.”Managing and integrating all of these different sources is no easy feat, says Groes, so EveryMatrix now takes up the task of doing the data integrations, aggregating all of the sources into one data feed. “This allows them to mix the sources together, and when they overlap, the operator can set preferences for certain sources.”“To do this in real-time is a technical challenge of some dimension, because the amount of data you get and the speed at which they change creates an enormous amount of data.”In his eyes, the future of trading is as much about managing data feeds as it is about having traders looking at events. “A good trader is one that understands the quality, looks at the data and knows how to prioritise and organise sources. That’s why, for us, this data aggregation model is a key tool.”When building the new sportsbook, Groes says the company saw value in this feature outside of the product, and decided to open it out to run independently as a separate component too.In today’s market where there is such a high volume of competition and with operators increasingly needing more ownership, control and creative licence over their offerings, Groes says this volume of configurability and information is the best way to meet modern demands. Overhauling a sports betting offering 1st July 2019 | By Aaron Noy Slots Topics: Sports betting Slots AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter We spoke to EveryMatrix CEO Ebbe Groes to learn more about their recently launched revamp of OddsMatrix.last_img read more

Criminality and prostitution prompts Makati POGO moratorium

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Legal & compliance The Philippines city of Makati has declared an indefinite moratorium on the issuance of new business licences and permits to service providers of Philippine Offshore Gaming Operators (POGOs).Makati mayor Abby Binay said that effective immediately, the city would cease to issue Letters of No Objection (LONO) and stop accepting new applications for business permits from the suppliers.“We would no longer accept new applications for POGO service providers and crack down hard against illegal activities that are catering to POGOs and their employees within Makati,” Binay said.The mayor explained that the city’s residential and commercial leasing market was “overheating” due to an influx of foreign workers requiring housing and work stations, causing property rates to spike. Furthermore, the demand for housing had seen a rise in illegal rentals on the market.“These apartments are usually overcrowded with insufficient exits and faulty fire-alarm systems,” she said.In addition, she said, Makati had also seen rising rates of criminality targeting POGO employees and prostitution. In the past two months, Binay noted that the city government had closed four illegal POGO service providers, two brothels, one unsanitary restaurant and a catering company.Authorities also seized ₱2.5bn worth of illegal drugs from an apartment rented by a Chinese national.The mayor did, however, add that businesses that adhered to laws and regulations, namely the payment of taxes, would still be welcome. From POGO service providers licensed by the Philippines Amusement and Gaming Corporation (PAGCOR) and registered with the Business Permits and Licensing Office, Makati earns more than ₱200m in local business taxes each year.Makati is currently home to around 300 of these supplier, which provide services such as live casino video streaming, customer service, marketing and technical support.“We will always welcome legitimate businesses in the city that strictly adhere to  laws and ordinances, particularly the payment of taxes,” Binay said. “And we will always strive to provide these businesses and their employees with a safe environment conducive to business growth and personal activities.”Binay has taken the action in line with the calls from President Rodrigo Duterte and Finance Secretary Carlos Dominguez to crack down on illegal activity related to POGO service providers.This saw PAGCOR suspend the awarding of new POGO licences until the end of the year in August, despite the government repeatedly refusing to implement an outright ban, despite pressure from China.Since then the country’s Bureau of Internal Revenue (BIR) has been shutting down POGOs that fail to pay taxes, with three falling foul of this crackdown already. In November Dominguez reiterated the need for action against tax-delinquent gaming operators.This comes against the backdrop of a bill to increase the tax levy on POGOs to 5% of annual gross income, with the bill progressing to a second reading in the House of Representatives late in November. Topics: Legal & compliance Criminality and prostitution prompts Makati POGO moratorium 9th December 2019 | By contenteditor Regions: Asia Philippines Subscribe to the iGaming newsletter Tags: Mobile Online Gambling The Philippines city of Makati has declared an indefinite moratorium on the issuance of new business licences and permits to service providers of Philippine Offshore Gaming Operators (POGOs). Email Addresslast_img read more

Tribal ballot proposal could boost California revenue – but increase costs

first_img Regions: US California Tribal ballot proposal could boost California revenue – but increase costs Subscribe to the iGaming newsletter Casino & games Email Address Should a ballot measure to allow sports betting at California’s tribal casinos and racetracks be adopted, the state stands to generate “tens of millions” in new revenue, but face higher regulatory and enforcement costs, a new report says.center_img Topics: Casino & games Legal & compliance Sports betting Tribal gaming AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Should a ballot measure to allow sports betting at California’s tribal casinos and racetracks be adopted, the state stands to generate “tens of millions” in new revenue, but face higher regulatory and enforcement costs, a new report says.The analysis of the ballot proposal put forward by a coalition of 18 Native American tribes in November last year was carried out by the Legislative Analyst’s Office (LAO) and offered a mixed picture of its potential impact.According to the LAO, if the state were permit such an expansion, its unclear as to how much more would be spent on gambling, but spending could reach tens of millions of dollars each year from sports betting.The proposal would not only allow sports betting at tribal casinos and state racetracks, but also give tribal operators the right to offer roulette and dice games. At present, tribal casinos are only permitted to offer slot machines, lottery games and banking and percentage card games.Read the full story on iGB North America. 10th January 2020 | By contenteditorlast_img read more

Daniel Sturridge banned for betting breaches

first_img Topics: Legal & compliance Sports betting Regions: UK & Ireland Former England and Liverpool footballer Daniel Sturridge has been suspended from all football-related activity for four months for breaching the FA’s gambling regulations, after his initial punishment was deemed too lenient.In July 2019, Sturridge initially received a two week ban, plus a further four suspended, after the the independent regulatory commission found he had instructed his brother to bet on the player joining Sevilla in the January 2018 transfer window. This transfer never materialised.However, the FA appealed the ruling, calling for both a stronger sentence for the breaches of which Sturridge, and for the commission to reconsider its dismissal of eight other charges.The additional charges that were dismissed all concerned Rule E8(1)(b) of the FA’s rules.This rule states that, “where a participant provides to any other person any information relating to football which the participant has obtained by virtue of his or her position within the game and which is not publicly available at that time, the pParticipant shall be in breach of this rule where any of that information is used by that other person for, or in relation to, betting.”The commission dismissed a ninth charge as well, but this was not appealed.While six of these appeals were rejected, the original decision to dismiss two of the charges were overruled. One of these charges alleged that Sturridge provided his brother with insider information about his transfer to Sevilla for the purpose of betting.The independent appeal board noted that this charge was extremely similar to the already-proven charge that Sturridge had instructed his brother to bet on the transfer to Sevilla. The board determined that, given Sturridge’s instruction to his brother to bet on a transfer to to the La Liga side, other information provided about the transfer could be considered information to be used in betting.The appeal board also found that Sturridge was guilty of providing insider information to Daniel Hemmings, a close friend of living in the US, concerning his eventual loan move to West Bromwich Albion.Sturridge asked Hemmings to look up the odds of a move to West Brom, determining that 4/5 odds were “too short” but that the bet was “worth a flutter” at 6/4.The regulatory commission had ruled that these were “throwaway remarks” and that Sturridge was merely looking into how the market would view such a move. However, the appeal board rejected this premise and said Sturridge, “knew exactly what Mr Hemmings was doing when he researched the odds and, just as importantly, why he was doing it”.The board also doubled Sturridge’s fine from £75,000 to £150,000. As Sturridge already served two weeks of his suspension, it will end on 17 June. The ban will apply to all competitions sanctioned by global football governing board Fifa.Sturridge’s club, Trabzonspor, announced today (2 March) they have terminated his contract by mutual agreement .Image: Kevin Walsh Daniel Sturridge banned for betting breaches 2nd March 2020 | By Daniel O’Boyle Former England and Liverpool footballer Daniel Sturridge has been suspended from all football-related activity for four months for breaching the FA’s gambling regulations, after his initial punishment was deemed too lenient.center_img AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Legal & compliance Email Addresslast_img read more

NLRC pledges support for betting operators amid Covid-19

first_img Nigeria’s National Lottery Regulatory Commission (NLRC) has assured sports betting operators in the country that it will look at ways to offer support to sportsbook licensees that see their businesses impacted by the novel coronavirus (Covid-19) pandemic.Sports betting operators around the world have been negatively impacted by the outbreak, with wagering options being severely limited due to the cancellation or postponement of many sporting events.The NLRC said that it would work with the Nigerian government to ensure the sports betting sub-sector of the country’s gambling industry does not suffer any undue setbacks as a result of the pandemic.During a video conference with the NLRC, sports betting licence holders across Nigeria put forward a number of proposals for the government to consider to help safeguard the future of their business.These proposals included a three-year tax holiday or a 50% cut in tax rates, as well as a call to have the government commit to not introduce new taxes until the crisis has ended.“Let me assure everyone that government will do the best it can to protect every business within the industry, we cannot fold our arms and watch our industry with the huge investment therein go down the drain,” NLRC director general Lanre Gbajabiamila said during the call.“I am optimistic that the federal government will not hesitate to give necessary approvals for any form of [assistance] that will ensure your business remains viable, because ours is a very peculiar industry which if properly harnessed would adequately shore up the much-needed [government] revenue.”Operators on the call also raised concerns about unlicensed online operators in Nigeria, something they said had impacted their retail businesses, both before and during the pandemic.Gbajabiamila said the NLRC remains determined to stamp out unlicensed activity in the country, but added that the regulator alone lacks the resources to deal with illegal gambling.He therefore said the regulatory would look to have the country’s Communication Commission, the Nigerian Technological Development Agency and the Central Bank of Nigeria join the fight against these operators.It comes after a long-running debate over what consitutes an illegal operator threatened to resume, after the Lagos State Lottery Board (LSLB) blacklisted a number of NLRC licensees.The LSLB had added GabLotto, Give ‘n’ take, MLotto, WesternLotto, WescoLotto, Chopbarh, Betbiga, Betwinner, Bet24hrs and Truthware Solutions, operator of the Zoomlifestyle lottery, to its blacklist. However, all the companies hold federal licences, which the NLRC said precluded the LSLB from blocking their operations in the state.The state lottery board, formed before the national regulator, previously cracked down on operators licensed at a federal level, demanding these businesses secure an LSLB licence in order to continue targeting players in the state. This ultimately led to Lagos States’ then-governor Akinwunmi Ambode stepping in to mediate between the parties, in May 2019. Topics: Finance Sports betting Regions: Africa Western Africa Nigeria 18th May 2020 | By contenteditor Nigeria’s National Lottery Regulatory Commission (NLRC) has assured sports betting operators in the country that the national government will continue to provide support to help businesses remain viable drying the novel coronavirus (Covid-19) pandemic. Subscribe to the iGaming newslettercenter_img AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Finance NLRC pledges support for betting operators amid Covid-19 Email Addresslast_img read more