Gaming – Page 11 – FairOdds Network

August 27, 2024

Survey estimates 10% of Brazil population has suffered gambling-related financial issues

A survey by market research specialist Hibou has revealed 10% of the population in Brazil has endured financial problems from gambling ahead of regulation coming into force.
The survey, which included 2,839 respondents in Brazil from all social classes, studied the prevalence of gambling in the population.

The study found 68% of Brazilians gamble, with around 16% of respondents stating they had suffered from financial issues due to their gambling.

Is pre-regulation gambling causing social issues?
That equates to around 10% of the Brazilian population. While this may cause concern it is important to note it covers a period before the legal online market launches. The first legal bets will be placed on 1 January 2025, with 113 operators applying for a licence during the initial 90-day window of preference.

Of those who had endured financial problems from gambling, 32% stated they had sold assets to make up for their losses. Additionally, 29% borrowed from friends or family, while 25% ..

August 21, 2024

Priority window closes for Brazil licence applications as 113 apply in total

The window for prioritised licence applications in Brazil has now shut with 113 operators submitting requests ahead of the deadline and excitement is building ahead of the market going live.
By applying before the 20 August deadline passed, the 113 operators have ensured their licence applications will be processed by 1 January 2025, the forecast launch date of the legal market in Brazil.

The 90-day initial window of preference opened in May. For a while, it appeared the number of applications would fall well short of industry expectations with just Kaizen Gaming-owned Betano applying by the end of June.

However, the publication of the remaining ordinances sparked an acceleration of requests, with 108 of the 113 applications coming after the final ordinance on sanctions was announced on 31 July. Notably, the much-awaited Normative Ordinance No 1,207 on online games clarifying which games would be allowed was one of the last to be published.

The total number of applications fell shor..

August 21, 2024

Sports betting and igaming continue to offset Pennsylvania retail decline in July

Pennsylvania posted further year-on-year declines in land-based gambling revenue in July, although the state saw total market revenue increase on the back of ongoing growth across igaming and sports betting.
Revenue from gambling in Pennsylvania in July hit $500.8m (£384.2m/€450.2m), according to the state’s Gaming Control Board. This is 7.2% higher than last year and also 6.1% more than $472.0m in June this year.

Despite revenue from retail slots declining 4.8% year-on-year to $204.3m, this remains the biggest source of gambling revenue in Pennsylvania. Land-based table revenue also fell 4.8% to $79.4m but still ranked third in terms of total revenue generated.

Igaming revenue tops $174.3m in July
Turning to online gambling, there is seemingly no stopping growth within the igaming sector in Pennsylvania. For July, total revenue from igaming was $174.3m, a rise of 31.2% from last year.

Of this total, $125.4m came from online slots, up 32.2%. Internet table games revenue was also up ..

August 21, 2024

ACMA orders blocking of more illegal affiliate websites in Australia

The Australia Communications and Media Authority (ACMA) has asked internet service providers (ISPs) to block access to a further four illegal gambling sites.
Casino Australia Online, Pokies.bet, Pokiesman and Smart Pokies were all identified as targeting consumers illegally earlier today (21 August). The four affiliate sites promote illegal online gambling in Australia, in breach of the 2001 Interactive Gambling Act.

The Act bans products such as online casinos, online slots and in-play sports betting.

Websites may also face action for offering online gambling without an operating licence in Australia. ACMA can also block sites publishing adverts for prohibited or unlicensed gambling services.

Ongoing effort to combat illegal online gambling in Australia
ACMA began making blocking requests in November 2019. Since then it has blocked 1,026 illegal gambling and affiliate websites.

In addition to this, 220 services have exited Australia since ACMA began enforcing illegal offshore gam..

August 20, 2024

KTO targeting 10% market share in Brazil’s regulated betting market

Speaking to iGB, KTO founder and CEO Andreas Bardun is aiming to capture a 10% market share of the licensed Brazilian betting market. He is confident the group's hard work and prolific localisation strategy will pay off.
KTO has been active in Brazil since 2019, when it initially launched in a single state. Prolific expansion and various regional and national sports sponsorships have helped it gain a foothold in the market.

“I believe anyone should aim to have at least 10% market share in Brazil long term and we aim to be a market leader,” Bardun explains. “To be considered among the top brands, I think you need to have at least 10%.

“To be considered among the top brands, I think you need to have at least 10% [market share],” says KTO CEO ANdreas bardun
“We know we’re probably far off that at the moment, but if you consider pound for pound what we have done in Brazil because we are coming from very humble backgrounds with very small investment into the company and to be able ..

August 20, 2024

Stake.com continues regulated market push with Peru online gaming launch

Crypto gaming specialist Stake.com is expanding its regulated footprint, securing casino and sportsbook licences to launch in the Peru online gaming market.
The rollout of Stake.pe marks the operator’s second regulated LatAm market, after it acquired Betfair Colombia in November last year. This push is going global, as shown by this month’s acquisition of Idealbet, a licensed Italian operator.

“We are delighted to bring Stake to Peru, a country that has a lot of potential for digital growth, which has been evident in recent years,” said Stake’s general manager for Latin America Diana Otalora. “This shows our ambition to provide world-class entertainment to Peruvian customers and to expand our reach in LatAm.”

Boylesports and Inkabet veteran joins for Peru igaming market push
Jennyfer Escobar joins as country manager to lead Stake’s Peru online gaming push. She joins after a short stint at Boylesports, where she served as growth manager, and also spent over six years at Inkabet, acq..

August 19, 2024

Colombia government credits online gambling for supporting GDP growth in Q2

Colombia’s igaming market revenue reached COP10bn (£1.9bn/€2.2bn/$2.5bn) in Q2, with the sector credited as a key component of the nation’s economic growth over the quarter.
National gross domestic product (GDP) grew by 2.1% over Q2 and the country’s National Administrative Department of Statistics (DANE) pointed to Colombian online gambling as one of the activities that most helped that growth.

DANE director Piedad Urdinola highlighted the impact of recent sporting activities in particular as driving a rise in online betting. In this summer’s Copa América tournament the Colombia national team reached the final.

Marco Emilio Hincapié, president of Colombian gambling regulator Coljuegos, revealed that sports betting was indeed the largest contributor to the online betting sector, accounting for 47% of total gross gaming revenue (GGR) nationally.

Localised games such as bingo and casino were second with 33% of GGR, while lottery games AstroSport and Baloto generated 13% and 7% respect..

August 19, 2024

New Jersey: Sports betting and igaming growth offset land-based decline in July

Year-on-year growth across sports wagering and igaming in New Jersey offset a 6.1% decline in revenue from the Garden State’s land-based market during July.
Total market revenue in July amounted to $547.8m (£423.4m/€496.7m) according to New Jersey Division of Gaming Enforcement figures. This is 8.2% more than $506.2m in New Jersey last year and also 11.6% more than June this year.

Despite the year-on-year decline, land-based gambling remains the main source of revenue. In July, land-based revenue topped $272.3m, down from $290.0m last year. Of this, $207.3m came from slots, a drop of 4.8%, while table games revenue also fell 10.0% to $65.0m.

How far is igaming from overtaking land-based in New Jersey?
The decline in land-based revenue begs the question: could it be surpassed by igaming? For July, igaming revenue hit $195.4m, a 25.9% increase from the same month last year.

Of all igaming revenue, $192.8m was attributed to slots and table games, an increase of 26.4%. The remaining $2…

August 19, 2024

Portugal online gambling revenue hits record high in Q2, land-based declines

Online gambling revenue in Portugal reached €261.8m (£223.1m/$289.2m) in Q2, a record figure and the eighth consecutive quarter in which revenue has hit an all-time high. However a decline in table games revenue hit the country's land-based industry.
The Q2 total is marginally higher than the previous record of €260.8m, which was set in Q1 this year. Revenue for the three months to 30 June is also 27.2% higher than Q2 2023, according to Portugal regulator Serviço de Regulação e Inspeção de Jogos (SRIJ).

However while online gambling in Portugal is thriving, local operators are warning of a growing threat from the illegal market.

Online casinos still king in Portugal
Breaking down the quarterly performance, online casino games accounted for €158.5m of all revenue in Q2. This represents an increase of 29.9% from €122.0m in 2023 but a slight drop from €160.3m in Q1.

In terms of spending, players wagered a total of €4.37bn across online casino games during Q2. This is 34.7% higher ..

August 16, 2024

Casino expansions lift US Q2 GGR

US gross gaming revenue (GGR) increased by 8.9% year-on-year to $17.63bn (£13.66bn/€16.04bn) in the second quarter of 2024.
The American Gaming Association (AGA) stated that casino expansions in states such as Illinois, Nebraska and Virginia drove the increase. This led to traditional casino GGR improving by 1.8% to $12.49bn.

However, there were also sharp rises in sports betting and igaming GGR.

Sports betting GGR rocketed by 35.3% year-on-year to $3.16bn in Q2, while igaming GGR increased by 25.2% to $1.97bn.

Q2 record
In total, it was the 14th consecutive quarter of year-on-year growth and the highest-grossing Q2 revenue performance on record. However, the total figure was slightly below the quarterly commercial gaming revenue record of $17.7bn registered in Q1.

Over the first six months of the year, total GGR was up 7.7% to $35.48bn. Traditional casino GGR was up 1.1% to $24.83bn, while sports betting GGR improved by 28.7% to $6.67bn and igaming GGR rose by 25.6% to $3.95bn.

Q..

August 16, 2024

Casino expansions lift US Q2 GGR

However, there were also sharp rises in sports betting and igaming GGR.

Sports betting GGR rocketed by 35.3% year-on-year to $3.16bn in Q2, while igaming GGR increased by 25.2% to $1.97bn.

Q..

August 14, 2024

KTO pulls out of Chile, Peru to narrow focus on Brazil betting market

KTO Group has pulled its sports betting brand from Peru and Chile to focus on the licensed Brazil market once it launches in January 2025.
KTO founder and CEO Andreas Bardun told iGB its LatAm presence had been reduced to just Brazil as the company prioritises growing its market share in the region.

KTO is one of 17 operators to have already applied for a betting licence within the initial 90-day window of preference. This means KTO will be granted a licence within the first wave, in time for the 1 January launch date.

First mover advantage will be crucial in brazil says kto ceo andreas bardun
KTO Brazil was launched in 2018 and Bardun believes the company will benefit from a first-mover advantage in the licensed betting market.

“We entered Brazil maybe four or five years ago now when there wasn’t so much attraction, people couldn’t really see the potential,” Bardun told iGB. “And we realised there wasn’t any kind of localisation of the product.

“We thought this is a good oppor..

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Tag: Gaming