Gambling Insider May/Jun 2024

Page 1

May/Jun 2024

We visit EveryMatrix’s new office in Bucharest, Romania

INTERVIEWS: The latest in Brazil, the future of advertising, cryptocurrencies & more GI ON THE MOVE: SUSTAINABILITY: We report from Kindred’s Sustainable Gambling Conference

EDITOR’S LETTER

rashing in, cashing out. I had a lot of fun putting together this issue’s cover feature on the growing phenomenon that is crash games.

It took countless hours of research and I’d like to thank five stellar contributors in Spribe (who else, given Aviator’s success?), Galaxsys (another crash games supremo), Evolution (the live casino giant looking to shake things up with its Stock Market crash game), and LeoVegas and Betsson, who provided the operator viewpoint.

I genuinely hope this article is useful to any supplier or operator looking further into crash games. And, thanks to our contributors and the fantastic Gambling Insider team, I am very confident this 5,000 word, 10-page dossier will indeed serve as the ultimate crash game guide.

My personal opinion on crash games, from what I’ve seen so far? I love them. I find them easy to play and difficult to win – probably the perfect balance for any gambling product. But, importantly, they are fun to play and I’ve never had too much of a feeling of frustration after losing.

Like Chandler Bing in Friends simultaneously expressing his bewilderment and awe at the fictional quiz show ‘Bamboozled,’ if I lose my bet I’m left animatedly declaring “this is the best game ever!”

Is any one game actually the best crash game? The market leader, according to several of our contributors, is Aviator by Spribe – by some distance – and its simplicity is simply brilliant.

During my crash games research, I stumbled upon the quote “simplicity is the ultimate sophistication.” I omitted it from the final draft as, despite being attributed to Leonardo da Vinci, I couldn’t find actual proof of when or where it was said.

Whoever coined it, though, what a beautiful phrase – and it applies doubly to Aviator. It is one of the simplest games you could play, but its results speak for themselves.

Where a nice twist has presented itself is the aforementioned Stock Market game by Evolution. Could I pick a favourite between the two? Despite Aviator’s market-leading status, I’m not so sure – they are both superb in their own way.

A key question here, as our cover feature explores, is whether removing the ‘cash out’ option and adding a live casino element actually takes the crash game concept to another level, or whether it removes its edge.

Only the market can dictate that. But crash games as a whole are here to stay.

As James Ford of LeoVegas tells us, for the LeoVegas and BetMGM UK brands – crash games are more of a ‘niche’ due to the mainstream markets in which they operate. Ford himself, however, suggests Evolution’s Stock Market could change that – and that’s before it has even hit a very stock market-driven US audience.

Cracking the globe’s mainstream markets may well be all that’s left for an online casino genre that, since its inception in 2017, has quickly propelled itself into an iGaming mainstay.

But, given its existing popularity in regions like Eastern Europe and Latin America, for me it’s just a matter of time.

COO, EDITOR IN CHIEF

Julian Perry

EDITOR

Tim Poole

Tim.Poole@gamblinginsider.com

STAFF WRITERS

Beth Turner, Will Underwood

JUNIOR STAFF WRITER

Ciaran McLoughlin

CONTENT WRITER

Megan Elswyth

LEAD DESIGNER

Olesya Adamska

DESIGNERS

Claudia Astorino, Callum Flett, Gabriela Baleva

DESIGN INTERN

Medina Mammadkhanova

ILLUSTRATOR

Maria Yanchovichina

MARKETING & EVENTS MANAGER

Mariya Savova

PRODUCTION CONTROLLER

Phoebe Petford

FINANCE AND ADMINISTRATION ASSISTANT

Dhruvika Patel

IT MANAGER

Tom Powling

COMMERCIAL DIRECTOR

Deepak Malkani

Deepak.Malkani@gamblinginsider.com

Tel: +44 (0)20 7729 6279

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Michael Juqula

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WITH THANKS TO:

Giorgi Tsutskiridze, Gil Soffer, James Ford, Philip Lam, Todd Haushalter, Neil Montgomery, Alex Czajkowski, Ebbe Groes, Paul Sculpher, Katya Machuganova, Ken Robertson, Gethin Evans, 1xBet, Vigen Badalyan, Isidoros Siderakis, Renato Almeida, Simon Westbury, Yurii Berest, Steven Valentine, Alex Scott and Gustaf Hoffstedt

Gambling Insider magazine ISSN 2043-9466

Produced and published

by Players Publishing Ltd All material is strictly copyrighted and all rights reserved. Reproduction without permission is forbidden. Every care is taken in compiling the contents of Gambling Insider but we assume no responsibility for the effects arising therefrom. The views expressed are not necessarily those of the publisher.

C ONTENTS

Gambling

Gambling Insider looks into the history of Fanatics, the sports merchandising giant that has gone on to make a splash in

20 Moving the industry forward

We review Kindred Group’s 2024 Sustainable Gambling Conference

24 Interview: Brazil

Gambling Insider speaks with lawyer Neil Montgomery on the latest sports betting developments and legal updates in Brazil

28 Crash for sports betting?

Alex Czajkowski, returning Gambling Insider contributor and iGaming marketing specialist, asks whether Betlabs’ Boost Bets is the Bonus Buy or Aviator equivalent for sports betting

32 Crashing in

With contributions from Spribe, Galaxsys, Evolution, LeoVegas and Betsson, Gambling Insider Editor

Tim Poole explores the growing phenomenon of crash games, the simple-yet-effective genre that has skyrocketed in popularity since its inception in 2017

44 From the ground up

At the unveiling of EveryMatrix’s new office in Bucharest, Romania, we speak with CEO Ebbe Groes

ISSUES 8 Facing facts
Insider investigates the online gaming market, taking note of trending locations and subsections within the industry 14 Taking stock
track online casino operator and supplier prices
Timeline
We
18
gambling
US
FEATURES
COVER FEATURE
54 28 44
ALEX CZAJKOWSKI EBBE GROES KATYA MACHUGANOVA

ONTENTS

48 Big Question: A baccarat boom in the UK?

It’s fair to say that roulette and blackjack dominate the UK casino market – but could that change this year? Gambling Insider discusses...

54 The maths behind a 'blockbuster' slot

Katya Machuganova, Product Owner at Silverback Gaming says, ultimately, a great online slot is just a numbers game

56 Managing the mischief

The landscape for betting advertisement is changing... we speak with Ken Robertson & Gethin Evans

60 Green lighting greater traffic

Popunder traffic is a phenomenon in internet marketing. The team at 1xPartners tells us more…

62 Crypto, meet iGaming

Gambling Insider spoke with BetConstruct CEO Vigen Badalyan on the company’s goals for the year and the use of the latest technology

64 Omnichannel

Industry experts answer Gambling Insider’s burning questions on all things related to omnichannel casino gaming

INSIDERS

68 Simon Westbury Sport Generate

69 Yurii Berest Data.bet

70 Steven Valentine Comtrade Gaming

71 Alex Scott WPT Global

72 New on the market

Gambling Insider reviews the latest gaming offerings

82 Gustaf Hoffstedt BOS

PRODUCT REVIEWS
FINAL WORD
62 82
VIGEN BADALYAN
71
GUSTAF HOFFSTEDT ALEX SCOTT

FACING FACTS

Gambling Insider investigates the online gaming market, taking note of trending locations and subsections within the industry

Entain FY revenue, online vs retail (£bn)

Spin online casino Q1, Q2, Q3 comparisons by region (€m)

Source: Company reports

• By looking at Entain’s FY results since 2018, we set a basis for the significance that online gaming plays in the overall market. Prior to the Covid-19 pandemic, online and retail gaming existed on fairly level playing fields. Now post-Covid, while this market has recovered it has still not reached pre-Covid levels, while online gaming has grown 75.5%.

• 2018 also marks the founding of BetMGM, Entain’s online gaming venture with MGM Resorts. In FY23 BetMGM’s net revenue was up 36% year-on-year for a total of $1.96bn - more than the entirety of Entain Group’s FY23 retail revenue.

• 2018 also saw the legalisation of sports betting in the US, significantly contributing to the growth of online gaming revenue due to the range of mobile sportsbooks available.

Source: Company reports

• Spin, an online casino and subsidiary of Super Group, offers games around the world, with its largest market for online casino being North America. However, more often than not the Asia-Pacific area is shown to generate more online casino revenue for Spin quarterly than Europe.

• Due to the size of the Muslim population it is understandable why the Africa & Middle East area generates very little quarterly compared to other regions.

8 GAMBLINGINSIDER.COM FEATURES FACING FACTS
ONLINE RETAIL
4 3 2 1 0 FY18 FY19 FY20 FY21 FY22 FY23 Entain FY revenue, online vs retail (£bn) Retail Online William Hill FY operating profit (before exceptional items) by segment (£m) 2006 –2013 100 80 60 40 0 20 Q1 21 Q2 21 Q3 21 Q1 22 Q2 22 Q3 22 Q1 23 Q2 23 120 140 160 180 Q3 23 4 3 2 1 0 FY18 FY19 FY20 FY21 FY22 FY23 Entain FY revenue, online vs retail (£bn) Retail Online Overall market growth after states implemented iGaming ($m) William Hill FY operating profit (before exceptional items) by segment (£m) 2006 –2013 100 80 60 40 0 20 Q1 21 Q2 21 Q3 21 Q1 22 Q2 22 Q3 22 Q1 23 Q2 23 120 140 160 180 Africa & Middle East Asia-Pacific Europe North America LatAm Q3 23 AFRICA & MIDDLE EAST ASIA-PACIFIC EUROPE NORTH AMERICA LATAM

($m)

Source: Company reports

• Declines in net loss and increases in revenue are a trend for DraftKings across the last four quarters, with Q1 2024 revenue almost 3.8x higher than what was reported in Q1 2021.

• 2022 provides a notable outlier, with net loss increasing from the year prior while experiencing growth less significant than that seen across other quarters. This may explain business decisions made after the quarter, such

Operator iGaming Q1 revenue ($m)

as acquiring Golden Nugget Online Gaming and launching iGaming in Ontario.

• Between Q1 2023 and Q1 2024, DraftKings’ revenue grew by 52.7%. But, when will DraftKings turn a profit?

Source: Company reports

• By taking the data accumulated from the five iGaming states over a decade as seen above, Analysis Group has made projections of what iGaming revenue could look like in five different states, were it to be legalised. While Bally’s North America Interactive and RSI both show similar patterns of growth, between Q1 2023 and Q1 2024 RSI experienced a notable spike in revenue, totaling $217.4m with a year-on-year growth rate of 33.9%. Several explanations for this growth include increased partnership activity in 2023, with examples including Play’n Go, Hacksaw Gaming and the Delaware Lottery.

• Bally’s North America Interactive is separate from Bally’s International Interactive, which routinely reports quarterly revenue of $200m+.

10 GAMBLINGINSIDER.COM FEATURES FACING FACTS
REVENUE
Projected iGaming revenue for non-iGaming states ($m) 200 250 150 100 50 0 Q1 2021 Q1 2022 Q1 2023 Q1 2024 -600 -400 -200 0 200 400 600 800 1000 1200 1400 Q1 2021 Q1 2022 Q1 2023 Q1 2024 Overall market growth after states implemented iGaming ($m) Combined Revenues (Land-Based + iGaming) Land-Based Revenues Before iGaming Q1 21 Q2 21 Q3 21 Q1 22 Q2 22 Q3 22 Q1 23 Q2 23 Africa & Middle East Asia-Pacific Europe North America LatAm Q3 23 New York Illinois Louisiana Maryland Virginia
DraftKings revenue by metric
NET LOSS
Projected iGaming revenue for non-iGaming states ($m) 200 250 150 100 50 0 Q1 2021 Q1 2022 Q1 2023 Q1 2024 -600 -400 -200 0 200 400 600 800 1000 1200 1400 Q1 2021 Q1 2022 Q1 2023 Q1 2024 Overall market growth after states implemented iGaming ($m) Combined Revenues (Land-Based + iGaming) Land-Based Revenues Before iGaming 60 40 0 20 Q1 21 Q2 21 Q3 21 Q1 22 Q2 22 Q3 22 Q1 23 Q2 23 Africa & Middle East Asia-Pacific Europe North America LatAm Q3 23 New York Illinois Louisiana Maryland Virginia BALLY'S NORTH AMERICA INTERACTIVE RUSH STREET INTERACTIVE (RSI)
WIN WITH US MANAGED SERVICES TURNKEY SOLUTIONS PLAYER ACCOUNT MANAGEMENT MEGA Motivational Engineering Gaming Application CASINO AGGREGATION SOLUTION SPORTSBOOK INTEGRATED SOLUTION PAYMENT GATEWAY WWW.SOFT2BET.COM

Source: Danish Gambling Authority

• Growth of iGaming revenue in Denmark remained steady between 2012 and 2016, settling in 2017 before growing again until 2020. As seen across many of these reports, Covid-19 saw the dramatic increase of iGaming revenues across the world, before settling somewhat post-pandemic.

• In 2021 online gaming taxes in Denmark grew from 20% to 28%, being a potential factor in the slowdown of GGR growth in the coming years.

• Denmark opened its iGaming market in 2011 following approvals of new regulations by the EU, dissolving the monopoly system that was previously in place. Today, Finland and Norway are also working towards dismantling their gaming monopolies in favour of a licenceing system.

Source: iGaming Ontario

• The Canadian province of Ontario was the first to legalise and regulate in Canada in April 2022. In the first quarter (until 30 June, 2022) the province generated CA$162m (US$118.9m) in gaming revenue, with 18 operators and 31 gaming websites.

• Growth was rapid across the first year, with a sharp incline in websites. However, this growth slowed down and even declined in some quarters the following year as operators faced the realities of navigating this emerging market.

• Ontario has been a popular destination for overseas iGaming operators to launch in North America before taking on the States. Since its first Q1 report, operators and gaming websites have more than doubled.

Source: Company reports

• With iGaming only legalised in seven states, it should not be overly surprising that the UK and Ireland generate more in iGaming revenue for Flutter than the US.

• The US market for Flutter is also very heavily influenced by FanDuel, the biggest mobile sportsbook in the US by market share. When looking at Flutter’s annual revenue overall, the US notably outperforms any other region. In 2023 for example, US operations accounted for over a third of the company’s total revenue.

• Growth in US iGaming revenue is more sizeable annually than growth in the UK and Ireland, in part due to the steady growth of iGaming legalisation across the states. Michigan legalised iGaming in 2021, while Rhode Island legalised iGaming in 2024. Could that see Flutter’s US iGaming revenue catch up with the UK and Ireland by the end of the year? GAMING WEBSITES

12 GAMBLINGINSIDER.COM FEATURES FACING FACTS 0 Q1 2021 Q1 2022 Q1 2023 Q1 2024 Flutter FY iGaming revenue by region ($m) New York Illinois Louisiana Maryland Virginia 800 1000 1200 1400 1600 600 Ontario iGaming operators and gaming websites by quarter 40 50 60 70 80 30 20 10 0 FY22-23 Q1 FY22-23 Q2 FY22-23 Q3 FY22-23 Q4 FY23-24 Q1 FY23-24 Q2 FY23-24 Q3 Gaming Websites GGR for Danish online casino market in January (Dkk, m) 20 25 30 35 40 15 10 5 0 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Danish online casino GGR Ontario
gaming
quarter
iGaming operators and
websites by
2021 2022 2023 Flutter FY iGaming revenue by region ($m) 800 1000 1200 1400 1600 600 400 200 0 Ontario iGaming operators and gaming websites by quarter 40 50 60 70 80 30 20 10 0 FY22-23 Q1 FY22-23 Q2 FY22-23 Q3 FY22-23 Q4 FY23-24 Q1 FY23-24 Q2 FY23-24 Q3 Gaming Websites GGR for Danish online casino market in January (Dkk, m) 20 25 30 35 40 15 10 5 0 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Danish online casino GGR 2021 2022 2023 Flutter FY iGaming revenue by region ($m) UK&I US 800 1000 1200 1400 1600 600 400 200 0 40 50 60 30 20 10 0 FY22-23 Q1 FY22-23 Q2 FY22-23 Q3 FY22-23 Q4 FY23-24 Q1 FY23-24 Q2 FY23-24 Q3 Gaming Websites GGR for Danish online casino market in January (Dkk, m) 20 25 30 35 40 15 10 5 0 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Danish online casino GGR
for Danish online casino market in January (Euro, m)
GGR
Flutter FY iGaming revenue by region ($m)
US UK&I

TAKING STOCK

Gambling Insider tracks online casino operator and supplier prices. Stock prices are taken across a six-month period (November 2023 to April 2024) – and from the close of the first available date of the month

OPERATORS

• Six-month high - February (SEK 115.60)

• Six-month low - March (SEK 103.20)

• Market capitalisation - US$1.36bn (as of April 3 2024)

• Six-month high - March ($216.00)

• Six-month low - December ($156.00)

• Market capitalisation - US$37.16bn (as of April 3 2024)

-

-

-

(as

14 GAMBLINGINSIDER.COM
FEATURES NUMBER CRUNCHING
• Six-month high
January (£91.35)
Six-month low
capitalisation
• Six-month low
April
• Market capitalisation
US$6.09bn
of
BETSSON 888 HOLDINGS FLUTTER ENTERTAINMENT ENTAIN OPERATORS Entain Flutter Entertainment 888 Holdings 120 Betsson 115 110 105 100 November SEK December January March April February 250 300 200 150 November US$ December January February 85 90 95 80 75 70 November GBP December January March April February 900 950 1,000 850 800 700 November GBP December January OPERATORS Entain Flutter Entertainment 888 Holdings 120 Betsson 115 110 105 100 November SEK December January March April February 250 300 200 150 November US$ December January February 85 90 95 80 75 70 November GBP December January March April February 900 950 1,000 850 800 700 November GBP December January February Entain Flutter Entertainment 888 Holdings Betsson December January March April February 250 300 200 150 November US$ December January March April February December January March April February 900 950 1,000 850 800 700 November GBP December January March April February Entain Flutter Entertainment Holdings Betsson January March April February 250 300 200 150 November US$ December January March April February January March April February 900 950 1,000 850 800 700 November GBP December January March April February
-
- December (£70.60) • Market
US$491.86m
of April 3 2024) • Six-month high
January (£985.40)
(£757.60)
-
(as
April 3 2024)

SUPPLIERS

• Six-month high - March (SEK 1,340.80)

• Six-month low - November (SEK 989.50)

• Market capitalisation - US$25.63bn (as of April 3 2024)

• Market

• Six-month high - January ($11.40)

• Six-month low - April ($10.15)

- US$802.60m (as of April 3 2024) • Six-month

-

($29.09)

($26.20)

(as of April 3 2024)

- April ($6.55)

16 GAMBLINGINSIDER.COM
high
low
November
• Market capitalisation
Six-month high
Six-month low
Market capitalisation - US$151.06m
of April
2024) EVOLUTION EVERI HOLDINGS NEOGAMES BRAGG GAMING FEATURES NUMBER CRUNCHING SUPPLIERS Bragg Gaming NeoGames Everi Holdings Evolution 5.5 5 4.5 6.5 6 4 November US$ December January February 25 30 35 20 November US$ December January 11 12 13 10 9 November US$ December January March April February 1,300 1,400 1,200 1,100 1,000 900 November SEK December January March April February SUPPLIERS Bragg NeoGames Everi Holdings Evolution 5.5 5 4.5 6.5 6 4 November US$ December January 25 30 35 20 November US$ December 11 12 13 10 9 November US$ December January March April February
1,000 900 November SEK December January March April February Bragg Gaming NeoGames Holdings Evolution 5.5 5 4.5 6.5 6 4 November US$ December January March April February 25 30 35 20 November US$ December January March April February January March April February January March April February Bragg Gaming NeoGames Holdings Evolution 5.5 5 4.5 6.5 6 4 November US$ December January March April February 25 30 35 20 November US$ December January March April February March April February January March April February
capitalisation
- April
• Six-month
- US$975.49m
- November ($4.34)
(as
3
1,300 1,400 1,200 1,100

THE FANATICS STORY

Following a quite fanatical flurry of recent company activity, Gambling Insider takes a look at the key dates of the Fanatics journey; and just how far the company has come from its humble roots in the Orange Park Mall

Following incorporation in 1995, Michael Rubin changes the name of his sporting goods supply company Global Sports Incorporated to G.S.I. Commerce and signs league deal with NASCAR.

G.S.I. Commerce acquires Fanatics in a deal worth $277m.

Insight Venture Partners and Andreessen Horowitz raise $150m for Fanatics, as it then purchases Dreams Inc in a deal worth $183m.

Doug Mack is announced as CEO of Fanatics, the company currently has around 1,800 employees. Fanatics also announce the opening of a new Bay Area office in San Fransisco.

UK-based internet retailer Kitbag is acquired by Fanatics in an expansive move valued at $17m.

Founded as a local Jacksonville Jaguars merchandise store in Florida, (Football) Fanatics now operates 60 e-commerce stores & 250 websites.

G.S.I. Commerce is sold to eBay for $2.4bn, Rubin retains the name Fanatics for his new venture.

Fanatics is valued at $3.1bn.

Fanatics raises $300m from Silver Lake Partners.

18 GAMBLINGINSIDER.COM FEATURES TIMELINE
JUN 2002 JAN 2011 MAR 2011 JUN 2013 AUG 2015 FEB 2011 APR 2012 APR 2014 FEB 2016

Fanatics receives $1bn investment from Japanese conglomerate SoftBank, the investment is further assisted by the NFL and NBA. The company hopes to utlise SoftBank’s Asia-Pacific market knowledge to aid its global expansion.

Jay-Z and Fanatics collaborate to apply for a sports betting licence in New York.

Fanatics secures an investment of $700m from Silver Lake Partners, bringing the company’s valuation up to $31bn.

The first mobileplatform Fanatics Sportsbook is launched by Fanatics Betting & Gaming in Tennessee and Ohio.

Uber and Fanatics partner is celebration of the Cubs’ World Series Title.

Fanatics signs a 10year deal with Nike & MLB for exclusive rights to manufacture all Nike MLB gear. This comes a year after signing a similar deal with Nike & NFL.

Fanatics acquires trading card brand Topps for $500m, as well as golf and tennis company Mitchell & Ness Nostalgia for $250m.

Fanatics launches a new live contentbased commerce business – Fanatics Live – Nick Bell is appointed CEO of the new company. Fanatics completes its acquisition of PointsBet US with a $225m fee, following a bidding war with DraftKings the previous calendar year.

19 GAMBLINGINSIDER.COM
NOV 2016 AUG 2017 AUG 2021 DEC 2022 MAY 2023 JAN 2019 JAN 2022 FEB 2023 APR 2024 TIMELINE FEATURES

INDUSTRY FORWARD

Back in March, Gambling Insider attended Kindred Group’s Sustainable Gambling Conference, as both those inside and outside the industry discussed a number of matters surrounding its long-term sustainability. Ciaràn McLoughlin reports

“Safer Gambling: A Look into the future” – this was the overall theme from the eighth edition of Kindred’s Sustainable Gambling Conference, held at the Kia Oval in London back in March. Given the regulatory changes on the horizon in the UK, especially following the Gambling Act White Paper, it did seem rather appropriate that the conference was to take place in London, not too far from the UK Government in Westminster. It was a full day, which included a schedule of talks, panels, roundtables and break-out sessions, all surrounding different areas related to sustainable gambling and the ongoing future of the industry. Given everything going on in the UK, there was no shortage of topics for experts both within and outside the industry to discuss and reflect on.

The implementation of Artificial Intelligence (AI), the UK White Paper, neurodiversity in the gambling industry, duty of care, markers of harm, affordability and financial risk and even a discussion from those with a lived experience of gambling problems were some of the main points of conversation during the day.

But opening proceedings was Kindred CEO Nils Andén (who would also later join Gambling Insider for an exclusive Huddle video interview). Ahead of the talks, he expressed how regulation has helped to push the industry forward and how transparency, a fact-based dialogue, collaboration between regulators and operators, and creating a sustainable environment for customers were key points for the industry moving forward.

The first talk of the day was delivered by composer, lyricist and author Daniel Maté. As mentioned, not all of the day’s talks were

delivered by those in the industry, but his relevance to gambling was very clear to see. Maté helped to Co-Author with his father on a book called ‘The Myth of Normal: Trauma, Illness & Healing in a Toxic Culture,’ exploring how normal is almost a myth where certain things such as disease, for example, are natural reactions to our irregular surroundings.

Regarding gambling, Maté looked into the idea of addiction, delving into how it needs to be framed differently looking beyond just trying to resolve it, and looking closer at the actual causes of the particular addiction. He reflected on educating on addiction, but less so with the person themselves and more so with the family and friends surrounding them; which helps to bring about connection, as well as healing, which is a very important element of the book.

20 GAMBLINGINSIDER.COM
FEATURES SUSTAINABLE GAMBLING

In his concluding statements, he emphasised that: “Sustainable business is great, but just understand that there is a contradiction in it that will be pulling you in the other direction, because the profit motive itself doesn’t understand human things like compassion and it doesn’t understand health. It understands short-term gain.

“So being willing to work with that paradox and understand that the status quo as it is has been [created] by the logics and imperatives of capitalist industry... and that if you’re going to create a different intention for the consequences and customer experience in your industry, you’re going to have to somehow go against the prevailing brain.”

GAMBLING ADVERTISING AND AI

Later in the day, there was a chance to hear from a panel of people who had a lived experience of gambling problems, either themselves or a close family member. The panel gave deeper insight into the effect it can have on people and what more needs to be done within the industry to help. A concern that came across was that the pain of problem gambling on the individual and those around them, and the harm it does to them, are never really explained; which needs to be focused on more.

One of the key points that came from the panel surrounded safer gambling advertising. As great as the messages are, one speaker explained, most of the information is found at the bottom of website pages, after scrolling through a barrage of offers, free bets and other

promotions. Ultimately, people shouldn’t have to search for this information. A big segment of the day was also technology. AI is, of course, a topic constantly heard in wider society today, with much talk regarding the potential risks surrounding its implementation.

This was touched on in talks and roundtables situated around AI’s implementation in the gambling industry, looking at the ethical dilemmas faced by gambling companies as AI is implemented more in the industry. A theme that came across was that AI can help operators with their business, especially when it comes to helping and interacting with their customers, but that the human element must remain in the process; particularly when it comes to the analysis and use of the data.

Also, different ethics must be weighed up in the process of implementing AI. But, overall, it seems that when properly used, it can help operators’ relationships with customers, but also can aid them in keeping within the ever-changing regulatory landscape.

THE WHITE PAPER

It wouldn’t be a gambling-related talk in the UK without reference to the White Paper. At the Kindred conference, there was acknowledgement that most developments were in progress, but an underwhelming feeling with dwindling prospects of a summer 2024 implementation. There were calls for a speeding up of the process, with one speaker explaining that the longer there is uncertainty, the longer that will stop people from receiving the help they need.

“ It’s up to us, it’s up to everyone here to ensure that these are not just words, that there are actions that follow through on this”

An interesting point made, specifically over affordability checks, was that ‘vulnerability checks’ is a phrase that should be used instead, with less focus on the financial aspect of an individual and more so on the vulnerability of the individual. A holistic approach to the White Paper was therefore one of the suggestions made; and this approach was something that was applied to many of the other topic areas throughout the day.

In one of the breakout sessions, Dan Spencer of Epic Global Solutions spoke about duty of care and how it can work for all stakeholders. He highlighted that the industry needs to focus more on prevention rather than just problem gamblers; giving the example of a cliff edge where people should be given the help they need much earlier, and not just when they reach that point.

21 GAMBLINGINSIDER.COM SUSTAINABLE GAMBLING FEATURES
Nils Andén (left) speaking with Nick Luck (right)

He emphasised that all within a gambling organisation have a responsibility to engage with people to prevent problem gambling.

AN INDIVIDUAL FOCUS

There was also an update during the day on the CEN standardisation and a roundtable led by Vasiliki Panousi from EGBA around markers of harm. Again, one of the main themes of focus on the individual came through in discussion.

One of the points was, rather than simply looking at the actions of a player as a marker of harm, that more needs to be done to understand the behavioural aspect of a particular action. Losses, as explained, should be considered within the affordability of the person and the individual patterns of play rather than just presuming that this is necessarily harm. Technology was once again referenced here and how, combined with human empathy, it can help with prevention, paying attention to the individual and

personalising everything to the particular player. While information is key, one panelist said, each individual is different and may not always match the aspects of behaviour of a particular demographic, e.g. age.

There was time to discuss affordability and financial risk as part of another panel, underlining the shared responsibility of the industry to bring transparency over regulation. Overall, the tone was set out that the industry needs to define the standard together, but that the regulator will need to give clear guidance so operators can keep up with evolving regulations. Just as he opened the day’s proceedings, Andén closed it off with some remarks for the audience to take away with.

CLOSING REMARKS

Looking back to prior to the conference, the overarching theme of the agenda of the day was ‘Safer Gambling: A look into the future’ but, as the Kindred CEO explained,

“ Sustainable business is great, but just understand that there is a contradiction in it that will be pulling you in the other direction”

the many issues which were touched on during the day need to be solved first before looking too far forward into the future.

Andén touched on the need for a closer relationship between operators and regulators, even suggesting a closer dialogue between different regulators themselves across different countries to ensure transparency in the industry. The conference brought many good conversations to the forefront of people’s minds, but as Andén summarised: “It’s up to us, it’s up to everyone here to ensure that these are not just words, that there are actions that follow through on this.”

Moderating the day’s proceedings was English racing broadcaster Nick Luck, who spoke exclusively to Gambling Insider at the event, underlining how important conferences like Kindred’s are. He told us: “I think crucial, because we’ve been living through an era the last two or three years where almost all the public dialogue surrounding gambling has been quite adversarial. And conferences like this show how well the industry can come together and listen when it needs to.

“You sometimes today have felt the desire to reach across the Thames, grab people from Westminster and bring them in here to realise how much work goes into the promotion of fair and sustainable gambling on the part of the industry when it collaborates; when it talks sensibly and when it isn’t posturing and puffing its chest out.”

Looking beyond the conference, Luck explained what he hoped would be achieved within the industry moving forward, adding: “But we know what’s coming now, so we have to make sure it creates a gambling culture that A) is responsible, but B) is customer focused, and we’ve heard a lot of that today. That’s the other big takeaway from today for me: how much talk there has been on the customer, on making the customer’s experience better, and I really hope the operators understand what they need to do to make that happen.

“And that is, albeit that we’re pushing forward with technology and with artificial intelligence that we’re still treating the customers as individuals, caring for them as individuals and providing them with an enjoyable but responsible service.”

As Luck explained, there was a lot of focus on the customer, specifically the customer as an individual, and on top of this the idea of collaboration and an open dialogue across the industry was very much the message for taking it forward beyond March’s conference.

The event provided a lot of insight of course into a range of different topics, but what was most striking was the shared intent that seemed to transmit from those both inside and outside the industry; to ensure the long-term sustainability of gambling in a safe, compliant and corporative way for all stakeholders involved.

22 GAMBLINGINSIDER.COM FEATURES SUSTAINABLE GAMBLING
Daniel Maté

NOTHING IS FREE...

Brazilian lawyer Neil Montgomery unpicks all the technicalities of the latest sports betting laws in conversation with Gambling Insider

At the end of 2023, Brazil finally enacted Law 14.790, to help in its bid to secure a ‘zero-tax deficit’ this year. Of course, to generate maximum revenue from gambling, it made sense to continue the regulation of sports betting and iGaming – not least because iGaming represents the largest portion of revenues for operators in Brazil. By the new law, iGaming is broadly defined as all games of chance, offered in a virtual environment where the player knows exactly what the odds are, and what the multiplying factor is on the return of their bet. Land-based casinos are now the only prohibited form of betting in Brazil. Although we are waiting on ordinances to further detail what games will be allowed in Brazil, the ordinances will not, legally, be able

to change any definitions. So far, three ordinances have been released. The first one was Ordinance 300 dealing with the accreditation of testing labs. The second came out at the end of April– 615 – which deals with payment methods. We’re just waiting for nine or 10 other ordinances to be released. The third came out in the beginning of May – 722 – dealing with the technical requirements for gaming websites. Lawyer Neil Montgomery, of Montgomery & Associados, speaks exclusively to Gambling Insider to tell us more...

Do you feel that, especially with the announcement of strict regulations around payments and advertising, local operators with have the upper

hand early on in the Brazilian market? Well, as you know, the regulations have been quite strict in many respects and there’s a series of obligations there that payment processors and operators need to abide by. One of the factors is the need for a central bank licence for payment processors. However, there are many types of payment arrangements that sometimes do not require a central bank licence. Therefore, there’s a doubt around whether for those companies, a licence will indeed be needed or not, because it’s not the MI Ministry of Finance that regulates whether PSPs need a licence or not – it’s a central bank. So of course, the Minister of Finance can require a licence if the central bank does not itself require a licence from certain types of PSP. Also, Conar, the Brazilian

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FEATURES MARKET FOCUS: BRAZIL

advertising watchdog, also released its own guidelines for advertising in the betting industry at the beginning of the year. Those, too, are quite strict.

So there aren’t many local operators yet, because since the federal licences are not available, we only have those that have obtained the licence from certain regulated states like Paraná and Rio de Janeiro. Operators are still mostly operating from overseas, continuing not to pay tax and are not yet subject to the laws being enacted in Brazil. I just hope that the number of obligations isn’t going to be so burdensome that it leads operators to think a licence isn’t worth applying for and stay operating offshore. Then, of course, we’ll have channelisation issues.

People have raised concerns that the ban on promotional bets could push people towards the black market – do you think this is a real threat, or a convenient argument for operators perhaps in the interest of their own advertising techniques?

No, I think it could be a real threat – consider bonuses, for example, you can argue that they’re a very important advertising and promotional tool for getting new clients on board. Those are being prohibited for the time being. In the meantime, what exactly will be considered a bonus is still yet to be defined. I don’t know whether the payments ordinance is going to eliminate loyalty programmes, for example. Still, there could be other creative forms of providing some sort of benefit or advantage to clients.

Why exactly do you think it is that the Brazilian authorities have decided to impose strict regulations around promotion and advertising?

Everything is limited to certain payment methods like debit cards, potentially e-wallets, and I think the drive of the Government is to try and combat gambling addiction. I think what they want to avoid at all costs are the pathological problems that gambling can create if you don’t have the right discipline. Brazil wants to look at gambling as a form of entertainment. That’s it.

Long term, do you think Brazil kickstarting its market with tighter regulations, although perhaps not as financially lucrative, could lead to a more stable regulated landscape further down the line?

It all depends on how many operators effectively apply for a licence and how enforcement plays out long term, because there’s also now the issue of certain states in which obtaining a licence may be perceived

“ We are creating a potentially dangerous scenario in Brazil, where the state licences may be earning a greater importance than was initially expected because of the delays at federal level ”

as being more attractive than the federal licence. The main example is the state of Rio de Janeiro, which grants licences that are much cheaper than the federal licence. So instead of R$30m (US$6m) it’s only R$5m and, instead of a 12% GGR tax at federal level, there’s a 5% GGR tax. There’s no monthly inspection fee, as well, and the difference with Rio de Janeiro is that although it’s a state licence in principle, it’s the only state benefiting under a specific article from the 2023 law. Article 35 details that states who launched their tenders for accreditation of operators prior to the release of the provisional measure last year have an almost-acquired right based on what is in the tender.

Rio de Janeiro has been quite creative to amend the tender that was issued before the provisional measure. This tender now allows licensed operators in the state of Rio de Janeiro to accept bets from outside of state borders, provided the operator and the player sign – electronically – a declaration saying that they consider the bet to be placed within the territory of Rio. Rio de Janeiro has now received 13 applications for a licence. Four licences have been granted, nine licences are in the

process of being granted and the many of the obligations that exist at federal level do not exist at state level.

Operators may be inclined not to apply for a federal licence because of the cheaper and less stringent obligations that exist at state level. This means that all these compliance restrictions on payments and advertising will potentially only kick in for those who obtain a national and federal licence. If the federal Government isn’t very strict on enforcing the legislation against unlicensed operators or challenging states that, like Rio, are offering more attractive licences, it could be losing out on money. Therefore, the whole compliance structure that was envisaged by the federal Government may not be applicable, because operators have preferred to go to state level.

What do you think are the key takeaways Brazil can learn from other LatAm countries that have recently entered the regulated gambling space? I think Brazil, at the moment, is far behind other Latin American countries. Countries like Colombia have had a regulated market for many years now. Argentina, as well, which is our neighbour, has had a regulated market

25 GAMBLINGINSIDER.COM MARKET FOCUS: BRAZIL FEATURES
The Redeemer Statue in Corcovado Mountain and Guanabara Bay, Rio de Janeiro - Brazil

longer than Brazil. Other countries, like Peru and Chile, are starting to regulate as well. We should have got the regulations for the 2018 law during the Bolsonaro administration; that didn’t happen. Then it took one year for the Lula administration to push the law that was enacted practically, as we were switching off the lights for 2023.

Now, the regulations at ministerial level are also taking longer than expected. This has created an opportunity for the state lotteries to push forward. So we are creating a potentially dangerous scenario in Brazil, where the state licences may be earning a greater importance than was initially expected because of the delays at federal level. I think the takeaway is that the federal Government is simply taking too long to issue these ordinances. Even if the initial ordinances are not perfect, I think they should be issued. They can always be improved because it’s easy for them to be amended by the ministry itself –but they’re taking too long to decide. In turn, this is creating very important business opportunities for their competitors, which are not only the states, but also municipalities in Brazil, who are issuing their own municipal licences. It is becoming a very competitive market.

As we move forward, do you think it is more likely that the government will alter the law, or stick to what they have written up initially? Well, hopefully I think they will evolve as the industry moves along, because I think the main goal of the Lula administration with regard to legalising gambling was to collect the vital revenues for them to achieve zero fiscal deficit. The more they delay, the longer they’re missing out on collecting those taxes. So, we’re nearly halfway into 2024 and those very essential industry revenues to achieve zero tax deficit have not started to be paid by operators, because the legislation is not out there. I believe they should issue the ordinances as they are now, and then gradually refine them over time. It’s a genesis for the market. As Rio Janeiro is now in the fourth round of accreditation, they themselves have adjusted their initial tender notice to adapt to the change in circumstances. If the federal Government has the same dynamics as Rio has, for example, I think they have a lot to gain.

With licensing fees so high, do you think it’s possible many operators will simply continue working as part of the black market?

I think that’s very possible. Especially if

“ I think the main discussion, which affects foreign operators that hasn’t reached a resolution yet, is this requirement for 20% Brazilian ownership that is in the 2023 Law ”

there’s an incentive for them to stay in the black market because of excessive regulation, excessive bureaucracy, excessive financial burdens and restrictions on advertising and payments. There’s a fair likelihood that channelisation will be affected, and many operators then will subsequently decide to stay in the black market.

With such a large general and betting population, legislation will need to remain airtight. From a legal perspective, do you see any red flags in the regulatory framework early on?

At this point, I think the main discussion that affects foreign operators. which hasn’t reached a resolution yet, is this requirement for 20% Brazilian ownership that is in the 2023 Law. I don’t know why, but this appeared at the very last minute. It was included by the Senate before the law was approved at the end of 2023. I don’t really see a reason for the inclusion of this requirement, especially because most areas in Brazil are open to foreign capital and do not impose any restrictions on foreign capital. So I don’t see to the extent that foreign shareholders of Brazilian companies need to have a local proxy to represent them to facilitate service of process. I don’t see how adding the 20% Brazilian ownership would contribute to providing greater certainty of security to the Government or to players.

One thing I do believe is this 20% Brazilian ownership can be circumvented by having a two-tier corporate structure in Brazil. So a foreign operator that wants to obtain a federal licence would set up first, a Brazilian holding company. Then, that Brazilian holding company would itself incorporate another Brazilian corporate co-company, which would be 100% owned by a Brazilian company holding a Brazilian shareholder. That operator would apply for the federal licence because the law doesn’t say that the 20% Brazilian shareholding must be held by an individual or by a corporate.

So since you cannot distinguish between individuals and corporates, national and foreign, in my view, having this two-tier corporate structure would satisfy the requirement of 20% ownership. However, there are rumours that the Government will require a Brazilian individual to hold the 20% and I think that is illegal, and can be challenged in court. Generally, it would add a market barrier for foreign operators, and an unnecessary layer of bureaucracy of trying to find a Brazilian individual who satisfies all the compliance requirements to hold that position.

26 GAMBLINGINSIDER.COM FEATURES MARKET FOCUS: BRAZIL
Neil Montgomery

CRASH FOR SPORTS BETTING?

Alex Czajkowski , returning Gambling Insider contributor and iGaming marketing specialist, asks whether Betlabs’ Boost Bets is the Bonus Buy or Aviator equivalent for sports betting?

“Crash” type games have certainly done anything but crash in the online casinos that have been rolling them out – even if “traditional” online casino players seem less interested. Except the support is coming from crypto casinos, because they certainly mimic watching your virtual coin go up and down as you hustle to buy and sell at the right time…

When Betlabs unveiled Boost Bet at SiGMA Africa, winning the SiGMA Startup award at the show earlier this year, there was a lot of “hey, is this crash for sports betting?”

Maybe. But I reckon it’s more like a slot’s “bonus buy” where for some generally large multiple of your stake you get dropped right into the slots feature. While in slots that’s been a controversial innovation (see regulators banning the feature, Play ‘n Go’s survey of Swedish players who are largely against it etc), it does provide for a potentially bigger win, albeit at a premium. Personally, I tell players to avoid buying the bonus, or if they must, drop down to the lowest stake.

The patented Boost Bets algorithm

delivers a higher return when the team you backed beats the other guys by a significant margin. I call it a “blowout bonus buy,” but Betlabs is actually implementing it as another market in the sportsbook; in a football match, bet on your preferred winner and if they beat their opponents by four, five or six goals, the rewards correspondingly scale. It’s perhaps a little like points betting, although here there is no downside risk for bettors; with points betting the payout increases linearly per

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FEATURES BOOST BETS

point, but with Boost Bets the payout increases exponentially.

So let’s walk through Betlabs’ prototype. You have your standard 1X2 markets, but click on a tab to see Boost Bets markets and you are presented with the 1X2 odds and ‘new’ columns showing your return on taking a Boost Bet rather than standard odds. You’re still making one bet, but you can see the possible return if your team beats the other team by X goals. The “X goals” is a weighted function of the probability that team 1 will crush team 2 by two, three, four or more goals (or vice versa).

And the upside can be significant.

In a fictional match-up between Tottenham and Manchester United (see Figure 1), backing Tottenham will pay $32 on a $10 1X2 bet (regardless of the margin of victory). Placing a $10 Boost Bet on Tottenham would pay at odds of 1.70, or $17 if Tottenham were to win by one goal. That’s as far as most sportsbooks go. But with Boost Bet, if Tottenham wins by two, the payoff is 2.85. By three, 6.75. By four 18.2 and by five or more goals would pay at odds of 53 to 1. Of course, Manchester United would have to roll over for that best return to happen, but you

get the idea (an idea that is similar to handicap markets). And stranger things have happened…

While surprising score differences are not impossible, Liverpool crushed Bournemouth 9-0 back in 2022; Sheffield United were smashed by Newcastle United 8-0 this season. In fact, there have been 17 games in the 2023-2024 English Premier League season with a score difference of four or greater. But Boost Bets also consider the heavily-favoured team to win against an underdog differently in its odds calculations. In those cases, the odds change for a big favourite and typically they need to win by 6+ goals before the “bonus bet” kicks in.

At first glance, this seems like a potential liability for an operator; but after testing, the maths show a significant upside margin for the book. To validate the reliability of their algorithm and its potential impact on margins, Betlabs conducted Monte Carlo simulations on virtual sports events. With outcomes determined by Random Number Generators (RNGs), they ascertained the probabilities for each event outcome. Incorporating a 7% margin into Boost Bets odds and simulating one million virtual sports events across 100

operators, the results showed an average operator profit margin of 7% across all 100 bookmakers, with a 95% confidence interval ranging from 3.0% to 10.8%.

So it looks promising from an operator’s perspective. Again, you have your handicap markets – but they are usually lower down and the shiny boost buttons at the top of the page would be far more eye-catching to a player right from the start. The Boost Bet is also dynamic, rather than only coming in if a team has won by a certain amount of goals.

Johnny Coetzer, Founder of Betlabs, calls the Boost Bets concept one of dynamic payouts, which makes it “the ‘slot machine of sports betting,’ offering punters a dynamic and exhilarating betting experience where the potential for big wins is always within reach.”

For me, Boost Bets add an element of greaterthan-expected rewards, the promise of maybe a much better return than a simple 1X2 bet. You don’t need to predict the score, you’re just rewarded for your picks doing better than the bookies imagined. And, of course, players are engaged longer as every additional goal means a greater “unexpected return” on their stake, enhancing their experience to the end of the match. It can apply to almost any sport: soccer, American football, basketball and tennis to niche markets like golf, virtual sports and esports. Additionally, Boost Bets can apply to various markets within each sport, including match winner, match total bets and player prop bets. So a player can use Boost Bets to bet on specific player performances, such as predicting whether LeBron James will exceed his projected points in an NBA game or backing an underdog golfer to finish in the top three of a major tournament.

Will Boost Bet do for sports betting what Nik Robinson’s Big Time Gaming Megaways slot mechanic did for slots? (Megaways versions of games are consistently in the top 50% of games preferred by players, smart casino sites even have filters for Megaways games in their casino lobbies). As an industry, we’re historically slow at embracing innovation (beyond perhaps payment processing)! But when they do happen, as in-play live betting has, it does add another revenue stream for operators and a more positive experience for players.

And that sounds like a win-win.

30 GAMBLINGINSIDER.COM FEATURES BOOST BETS
Figure1 3.20 3.40 2.25 Tottenham vs Manchester United Football Goal 1 1.70 2 2.85 3 6.75 4 18.20 5+ 53.00 Odds Goal 1 1.24 2 2.20 3 3.90 4 8.6 5+ 13.50 Odds TOTTENHAM TO WIN MANCHESTER UNITED TO WIN Fixture 1+ 2+ 1 x 2
Alex Czajkowski
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With expert contributions from Spribe, Galaxsys, Evolution, LeoVegas and Betsson, explores the growing phenomenon of crash games, the simple-yet-e ective genre that has skyrocketed in popularity since inception in 2017

Gambling Insider Editor Tim Poole simple-yet-e

FEATURES 33 GAMBLINGINSIDER.COM

No bells. No whistles. Crash games are simple in nature. Featuring anything from dinosaurs to footballers, fishing nets to spacerockets and, of course, maroon-painted biplanes, the crash game formula remains – and always will remain – practical and unostentatious. From soaring heights to a capitulation as abrupt as it is inevitable, the player’s ultimate aim is to cash out just in time. And, since the first crash games took off back in 2017, their popularity has risen exponentially – almost like the very multiplier mechanic that defines the genre. When the Covid-19 pandemic hit in 2020, the gambling sector began to really cash in on crash games, gaining particular traction across Latin America. Yet other titles, like Spribe’s Aviator, can already be found on the online casino libraries of multiple tier-one operators globally. As you’ll read later in this feature, one of our contributors still considers crash games to be a “niche” that holds huge potential. By this stage, however, it may be fairer to view this as the birth of a whole new vertical in itself. Assessing that vertical’s history and progression, its unique

characteristics and the impact of behavioural economics, Gambling Insider explores this very birth and asks: How can something so simple be so effective?

WHAT IS A CRASH GAME?

By definition, a crash game involves betting on a journey that is destined to end. The player just has to guess when. Whether it is indeed the flight of a plane, or deciding how long a virtual footballer will hold onto possession before getting tackled, a player places their bet, the process begins and – at some point – that process is guaranteed to stop. A player can cash out at any time before the ‘crash.’ But, crucially, if they fail to cash out before said crash, they will lose their whole stake. The longer the object goes without crashing, the higher the multiplier of the player’s bet. Crashes can occur instantly, at 1.00x, meaning an almost-certain loss for all players, or they can reach 50.00x, 100.00x or even higher... The possibilities are endless, the thrill constant and the engagement high enough to keep players coming back.

EXAMPLES OF LEADING TITLES

As we will explore further later on, Aviator by Spribe is considered the exemplar and archetype of crash games. Once again, that key word of simplicity comes into play here, with graphics more akin to a flash game, a distinct red colour that resonates with players and a social, communal aspect in that you can see how other players are

betting – and whether they are winning or losing. All the while, the game is played to soft, soothing music in the background, with a return to player (RTP) rate of 97%. Aviator has received praise from all over the industry as a market-leading crash game. It very much sets the standard. It even has its own GIFs on WhatsApp...

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GAME YEAR FOUNDED RTP AVIATORSPRIBE 2018 97% JETXSMARTSOFT GAMING 2018 97% BIG BASS CRASH™PRAGMATIC PLAY 2023 95.5%
CRASHING IN OR CASHING OUT

SmartSoft Gaming’s JetX allows you to ‘win with the speed of light.’ The concept and graphics here are not too dissimilar to that of Aviator, and will be mirrored in multiple other variants. Jets, rockets and planes make ideal objects for crash games and, here, the crash is quite literal as the cartoon jet explodes mid-air. The

game, again, offers all the social elements and is set against calming background music, with the same RTP rate as Aviator: 97%. JetX was launched back in 2018, the same year as Aviator, and so has undergone a similar journey, timewise, in terms of the growth of crash games.

The operators we spoke to were keen to emphasise two Pragmatic Play titles, Spaceman and Big Bass Crash™. Concerning the latter, not only does this game add distinctively to Pragmatic Play’s crash portfolio, it also builds on an existing slot franchise. The emphasis, like most crash games, is on “real-time decisions.” Again, we see live leaderboards and

multiplayer chat, while there is also a “Cashout 50%” option where a player can guarantee half their winnings and stay in the game with the second portion of their stake. The fishing aspect offers a different visual presentation to a game like Aviator, with the RTP rate also slightly lower at 95.5%, but the ‘crash’ premise is exactly the same.

35 GAMBLINGINSIDER.COM COVER FEATURE FEATURES

THE HISTORY OF CRASH GAMES

In a sign of the times, early crash games drew inspiration from two main sources. One: video games. And two: cryptocurrencies. As Giorgi Tsutskiridze, CCO of Spribe – the brand behind Aviator – tells Gambling Insider: “The inspiration for Aviator stemmed from observing the emerging crypto casino space since 2017, where a new type of game popular with younger players, rooted in the video game industry, caught our attention.”

Indeed, games like Stake Crash were popular within the crypto gaming community, paving the way for the myriad new titles we see today. But the accolade for the very first crash game goes to Eric Springer, a Canadian developer and Bitcoin enthusiast, who created Moneypot. As Gil Soffer, SVP Sales & Business Development at Galaxsys, tells us: “Moneypot was really to help educate those in the Bitcoin community and those looking to find out more. Other games

have followed suit, further gaining popularity in the casino category. So, popularity wise, the cross-over if you like into more ‘casino’ mainstream has only really happened in the last couple of years.”

Indeed, the formation of the Galaxsys brand itself is a nod to the growth of the genre and marks a milestone in crash game history. At ICE London 2021, Digitain Group announced the launch of Galaxsys, which would specialise in, among other things, fast games and crash games – led by CEO Hayk Sargsyan. Soffer adds: “Galaxsys contributes widely on delivery innovation and getting fast games to go mainstream. With Ninja Crash, Atlantis, Tower Rush, we are building the next generation of casino games, which are gaining popularity every year.”

So, from its origins in 2017 to a surge in growth some years later, we can see a gradual

trend – something that might represent the average in-game crash curve. Like much of the wider online casino industry, however, one global factor helped jettison this growth in a short space of time: the Covid-19 pandemic. As James Ford, LeoVegas Group Director of Gaming, explains from the operator side: “We’ve been familiar with crash games for some time, but it wasn’t until the onset of the pandemic in 2020 that we truly began to recognise their growing popularity. When discussing crash games, it’s fair to say the growth in popularity began with one standout title: Aviator by Spribe. Initially gaining momentum in Eastern Europe, the game gained wider awareness and traction during the crypto boom and the emergence of crypto casinos. Its popularity then spread further through the streaming community. The remarkable success of Aviator served as a catalyst, prompting numerous other suppliers to explore similar products.”

36 GAMBLINGINSIDER.COM FEATURES COVER FEATURE
Evolution launches Stock Market Spribe wins at the Global Gaming Awards EMEA Pragmatic Play launches Big Bass Crash™ Digitain Group launches Galaxsys, specialising in fast and crash games Covid-19 pandemic hits, online gaming and crash games surge in popularity Aviator launched by Spribe
2017 2018 2020 2021 2023 2024 2024
Moneypot, the rst crash game, is created by Eric Springer

THE OPERATOR POV

Today’s market is flooded with crash games, some more popular than others, and new suppliers always entering the field. Crash games now represent a casino genre in its own right, with a host of blog posts and videos based around the best crash game strategies. Comtrade Gaming, for example, offers Crash Soccer and will soon be launching Space Aviator (more on this in the Insiders section of this issue), while NSoft also provides a number of titles; even during the process of researching for this article, PopOK Gaming released the wonderfully titled dinosaur-themed CrashoSaurus. LeoVegas, which additionally operates BetMGM’s UK division, offers the likes of Pragmatic Play’s Spaceman and Big Bass Crash™, Games Global’s FlyX, Gaming Corps’ Jet Lucky 2, Playtech’s Cash It and SmartSoft’s Balloon. Meanwhile, Philip Lam, Director of Gaming Performance at Betsson Group, reiterates the popularity of Aviator to Gambling Insider, but also selects Pragmatic Play and SmartSoft titles, before referencing the need for its own in-house game. “After Aviator, our next bestperforming crash games would be Spaceman and Big Bass Crash™ from Pragmatic Play and then JetX from SmartSoft. In Georgia, we also have our own exclusive crash game which has been live for many years called ‘Boom,’ only available to EuropeBet players and performing well in the market.”

As Ford explains, crash games tend to attract a “somewhat different type of player profile” compared to traditional sports betting and casino games. The typical crash game player leans towards fast-paced, exciting and intense experiences. The multiplayerdriven aspects of the games tend to attract more communal players. Geographically, meanwhile, as both LeoVegas and Betsson have alluded to, crash games are popular in Eastern Europe. This synchronises well with some of the aforementioned factors:

“ Since the first crash games took off back in 2017, their popularity has risen exponentially – almost like the very multiplier mechanic that defines the genre ”

streaming, crypto and community gaming are all equally popular within Eastern Europe. But one other region where the popularity of crash games has definitively skyrocketed is Latin America.

THE LATIN INFLUENCE

The potential of regulated markets in Latin America has been a well-covered subject in recent years. In these very pages of Gambling Insider magazine, we have analysed the popularity of online casino, the potential of online sports betting and, more specifically, the promises of a regulated market in Brazil. For crash games, though, that potential has already been realised. Featuring in the January/February issue of Gambling Insider, Galaxsys SVP Soffer wrote that LatAm is an “attractive market due to increasing internet penetration, economic growth and regulation.

The markets aren’t as saturated as, say, continental Europe, which presents longerterm growth opportunities for suppliers. For fast games, LatAm is an incredible market as crash games are very popular. LatAm is a growth market for our content in all jurisdictions. Brazil is the biggest market but Mexico, Colombia, Peru are performing well. We are present in all the markets with our portfolio of around 30 crash, plinko, mines, instant and other fast and skill games and looking to expand to new markets such as Argentina and Panama.”

Speaking to us again for this issue, Soffer emphasises that crash games are not only popular in LatAm, with Galaxsys games seeing demand in North America, Europe, Africa, the Middle East and Asia too. Success in LatAm is ongoing, however, due to the vertical’s “streamlined, clean” UX with “strong visuals.” Soffer continues: “From a theme standpoint, they are relatable and easier to understand in comparison to other slot-style games, which have complex game mechanics and numerous pay-lines. It is the simplicity of the game that is a strong appeal and lends itself to mobile gameplay in regard to easeof-use on a small screen device.”

Lam, of Betsson Group, also attributes LatAm performance to simplicity – added to “strong synergies” with sports bettors. “The LatAm markets seem to have been exposed less to casino content over the years and their players in general seem to have a stronger affinity to sports, in comparison to our European players,” he tells Gambling Insider “The simplicity of the games resonate well with LatAm audiences, as well as having strong synergies from sports customers who cross over to casino, all of which seems to help with the strong performance of this game type in the region.”

BEHAVIOURAL ECONOMICS: THE ATTENTION ECONOMY

So, given the simplicity of crash games –and the fact that their appearance does not shout about itself – one may ask why a game like Aviator, JetX or Balloon could be so continuously popular. There are no new levels, no hidden bonuses, not even any sweepstake casino elements. Instead, these crash games repeat endlessly on loop, offering players the exact same experience on their 1,000th play as on their very first. And yet demand remains constant.

The answer could be rooted in psychology… Back in 2019, iGaming expert Mark McGuinness was the first to write about the concept of the Attention Economy for Gambling Insider. This March, meanwhile, Galaxsys CEO Sargsyan expanded on the topic in his GI Friday Guest Column. He wrote... ‘We live in an era of hyper-decision overload. A recent scientist study suggests that the average person makes over 35,000 daily decisions. That’s a lot of choices, right? A heck of a lot of options; some good, some bad and some decisions never made. Is it any surprise, then, that all these decisions per day, per hour, require a lot of available energy and mental concentration and attentiveness – simply put, you run out of steam quickly? ‘Today’s online casino players suffer from the same decision overload and are moving away from games with complicated user interfaces, and a plethora of features and game rules to comprehend. Games developers therefore need to consider all these preferences and behavioural biases to adapt game design outputs. We live in the attention economy, which, given the pervading omnipresent social media platforms we are always on, presents us with a constant barrage of messages, pings, swipes, alerts and vibrations vying for our attention – namely, to sell something.

‘Why is this important, you may ask when considering game design and adapting to changing player preferences related to game choice? Well, there is a growing discipline called Attention Economics. This is a practical approach to managing information through marketing and advertising messages, task completions or messaging systems. The basic premise is that available human attention should be viewed as a scarce commodity and, therefore, to solve

38 GAMBLINGINSIDER.COM FEATURES COVER FEATURE

some of these challenges, the application of economic theory is developed to provide a framework to solve various information management problems – namely, does one remember and does one have available time to assimilate the message?’

game, it could well read like the above. Again, Gambling

If there were ever a DNA code for a crash game, it could well read like the above. Again, for this feature, Soffer spoke to Insider specifically on Attention Economics, expanding on his CEO’s previous contribution. The theorem behind attention economics, Soffer says, is that like a computer, the human brain can reach a limit in the choices and decisions it must make. Crash games, by virtue of their game theme and presentation in regard to game aesthetics, present less choice and less decisions.

Broadly, this means that, if a player has less choices to make, they can review and process information quicker, leading to a more informed decision of how to proceed. In today’s busy lives, Soffer explains, consumers and casino player require simpler and streamlined, but still engaging, experiences. He concludes: “We can say the lifecycle of our games is longer than traditional slots and the revenue per player is greater. Furthermore, these games are for a new breed of player, who is more social oriented, which means decreasing marketing costs and offering considerable cross-sell opportunities.”

WHAT THIS MEANS FOR RESPONSIBLE GAMBLING

Any online slot, sports betting market or, indeed, crash game, faces the same paradox. An effective game must attract players quickly and repeatedly keep them coming back for more. But there is a line beyond which any harmful or problematic gambling must be tackled, or players at least helped. There was a point in time when little regard was given by operators to this side of the equation. As the years have gone by, increased regulation has enforced improved industry compliance. There has, though, also been a shift in mindset from gambling companies themselves. Entertaining players is a priority, so too sustainable revenue. Encouraging a player to lose beyond their means in one go, thereby creating a negative gambling experience, is an outdated business model that has no place in today’s economy. For crash games, then, there are specific considerations. As already explored, the games are quick, simple, repetitive and demand less attention. Could they, therefore, pose a higher risk than a traditional online slot, blackjack game or roulette spin? Ford, of LeoVegas, admits there are unique characteristics to a crash game RG strategy. He explains: “Responsible gaming considerations are crucial

for all forms of gambling, including crash games. The unique characteristics of crash games pose particular challenges, especially with regard to speed of gameplay and the allure of high-risk, high-reward dynamics.  However, we have a range of responsible gaming tools and measures in place to help players address these challenges and create a safer gambling environment.”

Beyond this answer, it has to be said our responsible gaming contributions were not as passionate as the answers to Gambling Insider’s other questions, and a little more boilerplate. Soffer, for example, said all Galaxsys games from a compliance perspective are certified under the GLI procedures, Malta Gaming Authority (MGA) and includes provable fairness. He added: “We support our partners and would of course discuss anything that could potentially result in gambling harm. Our games are now certified in over 15 jurisdictions and are compliant with the stringent requirements of different regulators.”

Evolution Chief Product Officer Todd Haushalter, meanwhile, who we will hear more from later on the supplier’s new Stock Market crash game, said: “We maintain a close collaboration with operators and regulators to ensure our customer service teams, game hosts, chat moderators, technology and more are effectively supporting a safe and enjoyable playing environment. As the game’s popularity continues to grow, we remain committed to monitoring player behaviour to enhance our support for our partners.”

CASE STUDY: AVIATOR BY SPRIBE

‘THE STANDOUT TITLE GLOBALLY’

As several of our contributors have already mentioned, and the industry at large backs up, the crash games journey is best embodied by Spribe’s Aviator. Spribe triumphed at the Global Gaming Awards EMEA 2024 in the Breakthrough Company of the Year

category, and the success of its flagship product (ironically plane-based) has seen the game itself garner not one but two brand ambassadors. Gambling Insider tested the crash game for the purposes of this article and there were several points of note here. Given its aforementioned simplicity, calm background music and community feel, Aviator is fun just to watch... But it is also very difficult to get right – making it a lucrative game for operators to add to their library, all the while keeping players engaged, entertained and itching to cash out at just the right time (ruining any missed opportunities along the way).

At one point, there was a multiplier as high as 570.00x, leaving almost every active player regretful of cashing out far earlier than this. And yet, in the rounds that followed, our famous red biplane was far too quick to get away. Any time the crash game ended at 1.0x or 1.1x, the house was effectively guaranteed not to have any winners. Even the video Spribe uses to advertise the game, meanwhile, adds an appropriate sense of fun and excitement: a man sits at the top of a hill with a laptop –playing the game while wearing a suit...

Spribe CCO Tsutskiridze tells Gambling Insider: “Recognising the potential of this genre for online casinos, we reimagined the concept, tailored it for mobile play and introduced unique features. Aviator’s theme matches perfectly with a multiplayer experience, social engagement and playercontrolled gameplay, what made it the #1 game in the world. Aviator found success across various regions, including Brazil, Africa, India, CIS, Italy, Romania, Croatia, Spain and the UK. Players drawn to Aviator typically exhibit traits such as being techsavvy, competitive, adventurous, social and having prior iGaming experience.”

As referenced earlier, Spribe also went into detail when we asked the supplier about responsible gambling. “A top priority” for Aviator, Spribe believes it is crucial for

“ Encouraging a player to lose beyond their means in one go, thereby creating a negative gambling experience, is an outdated business model that has no place in today’s economy ”
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FEATURES COVER FEATURE

operators to implement features such as customisable betting limits, self-exclusion options and certainly session time reminders.

On Aviator’s current performance, the Spribe CCO concludes: “We’re thrilled to see a growing demand from operators for

of the need for educational resources on responsible gambling practices, to help raise awareness among players and “empower them to make informed decisions.” After all, whatever the player then chooses, if they are provided with all the available information and data, there is an optimum chance of a “positive and sustainable gaming environment.”

growing from Aviator. The popularity of crash games has been on the rise, driven by their unique gameplay mechanics, immersive user experience, and appeal to a wide range of players. Operators are increasingly seeking diverse and engaging content to attract and retain players, and Aviator offers a fresh and exciting addition to their portfolios. The trend of crash games is on the rise,

broad appeal. As players continue to seek fresh and innovative gaming experiences, crash games offer a thrilling

their bets accordingly. After each round, players have the option to cash out their winnings, retain their remaining bet for the next round, or add additional stakes. Unlike typical crash games where players must decide to cash out before a crash occurs and risk losing their stake, Stock Market Live doesn’t involve preemptive cashing out before a crash. Instead, if a player bets on a downward trend and the graph does indeed fall, the player wins.”

contributed their responses to our questions completely separately, the note of developers failing to differentiate their offerings is a very natural segue into our next topic. In March 2024, live casino giant Evolution launched ‘Stock Market’ – branded as the first live casino crash game and, most definitely, a differentiated crash games, Stock Market’s release could in fact mark a first crossroads or turning point

that are “carefully crafted” to enhance the multiplayer experience without “overshadowing the core gambling experience.”

Aviator’s popularity has

now has brand ambassador campaigns with UFC athletes Alex Pereira and Merab Dvalishvili, aiming at aligning the game with its “core playerbase of Millennials and Gen Z-ers.” Tsutskiridze adds: “The partnership with UFC not only solidifies Aviator’s position in the market but also opens up new avenues for cross-promotion and player acquisition.”

Like Aviator, Big Bass Crash™ or JetX, Stock Market is incredibly easy to play. Gambling Insider ’s trials of the game, we found it was very quick to almost double your portfolio – but just as quick for that same portfolio to reduce straight back down to zero in value. Again, though, the experience is an enjoyable one. And the mechanics, as Ford points out, are different. There is no cash out option, you are simply predicting whether the market will go ‘up’ or ‘down.’ That reduces player control and the thrill of having to interject. But, at the same time, it increases the simplicity of the game (going back to our attention economics) and reduces the stress of having to press one more button: the decision is made at the very start and your bet lives or dies off it.

and your bet lives or dies off it.

In its Q1 results, Evolution reported operating revenue of €501.5m ($535.9m), up 16.7% year-on-year. It saw growth across all geographical regions and, of its revenue total, €431.3m was accrued from live casino. Those numbers speak for themselves – but they also make a statement about the rise of crash games. A supplier generating over €400m in quarterly live casino revenue thinks crash games is its next step? Quite the testimonial. And what’s more, in so doing Evolution has potentially created a new crossover genre of live crash games. On Stock Market specifically, CEO Martin Carlesund praised the “fantastic game” in Evolution’s Q1 report, saying players have “quickly taken” to it during a “strong release.”

Delving deeper, we asked Evolution CPO Hashaulter about the inspiration behind the game: “Forex trading and other forms of online trading have become increasingly popular in today’s digital age, yet we saw

Once again, that key word of simplicity comes into play here, with graphics more akin to a flash game, a distinct red colour that resonates with players and a social, communal aspect in that you can see how other players are

betting”

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no representation of this in the gaming sphere. We started thinking about how we could create a game with elements so widely understood, such as stock markets and graphs, with crash players specifically in mind, and that’s how Stock Market was born. The game itself is unique, appealing to different audiences, such as players looking for a thrill, and baccarat enthusiasts who tend to look at data and try to figure out which side will win the next round.”

A key differentiation, naturally, is the live casino element. Unlike with an ‘Aviator,’ a ‘Crash Soccer’ or a ‘Spaceman,’ Stock Market has a host who interacts with audience members. Hashaulter tells Gambling Insider: “This is the first live casino crash game. When we started working on the game, we saw no reason why a crash game in a live format wouldn’t be popular. In a sense, crash games are already live; players are playing together. But now, a singular host holds the game together, bringing a central point of focus. So far, the game has been performing very well; we are very pleased.”

The success of a live host aiding the crash game experience will be determined by the market. Arguably, the host is far more important for a game like Evolution’s Crazy Time. But Haushalter points out that the game host’s role is tailored to each player’s style and preference. The host, for example, is easy to mute, and there is an abundance of information and statistics players can derive just from the UI itself.

Haushalter is “super happy” with Stock Market’s early results, with Evolution seeing “solid numbers across the board,” especially in Europe and other global markets. LeoVegas’ Director of Gaming, Ford,

“Steady initial growth has ultimately resulted in longevity – and these games are delivering on their exact purpose. They are gambling games and, on that front, they serve the market perfectly”

for stock exchanges in the US, the appeal is

New Jersey in particular, there is a strong Evolution content. That is where Stock From there, it could permeate very easily. may be heading.”

CRASH GAMES 2.0 –WHERE DO WE GO FROM HERE?

corroborates that, during the initial week of its launch – particularly in Sweden – the operator observed “significant player engagement” with Stock Market and was among its top five most played games in Sweden during that period. Crucially, the game is yet to hit the US, where Evolution is live in a number of states (only seven offer legal online casino games Stateside). Judging by the passion for stock exchanges in the US, the appeal is almost certainly there – and Stock Market’s success in the US may provide a whole new case study in itself. We know that, in New Jersey in particular, there is a strong appetite for both iGaming in general and Evolution content. That is where Stock Market’s US journey is most likely to begin. From there, it could permeate very easily.

In May 2013, programmer Dong Nguyen saw the release of his famous ‘Flappy Bird.’ The mobile game was an instant hit, becoming a global force in the months to come. And yet, by early February 2014, Flappy Bird was removed both from the App Store and the Google Play Store. Nguyen claimed he felt guilty about the game’s addictive nature. Crash games, by contrast, are seeing a completely different trajectory. Steady initial growth has ultimately resulted in longevity – and these games are delivering on their exact purpose. They are gambling games and, on that front, they serve the market perfectly.

As we approach a conclusion, however, in assessing how far crash games have come, we also ask: where can crash games go next? Evolution’s input has already seen two key innovations: the combination of crash games and live casino, as well as the outright removal of a ‘cash out’ function. For Ford at LeoVegas, this may even represent a “2.0” version of the genre. “We’ve generated a strong following for crash games in MGA-licensed markets,” he remarks. “However, from a broader perspective, our overall audience engagement with crash games remains relatively low. This can be attributed primarily to the markets where we operate and the mainstream appeal of our wider offering, such as slot games, table games and sports betting, which attract a larger and more diverse audience. While crash games still occupy a niche space, they hold significant potential for growth. This potential could be further realised with the introduction of a ‘2.0’ version of crash games, where gameplay features and functionality are enhanced and

As we’ve already explored, this may well represent a turning point for crash games.

players prefer this altered version of the concept, or stick to the original. Another innovation, as demonstrated by Pragmatic Play, is the cashout 50% option. Galaxsys, too, offers a “Half-Cashout” option. Soffer tells us more: “Crash games do provide a more streamlined experience, with more straightforward game rules, which provides a feeling that the player can make more informed game choices and decisions. Galaxsys has introduced Half-Cashout on five of our games, Crash, Crasher, Rocketon, Maestro and Cash Show, of which players can take a reduced percentage of their winnings and continue playing which provides more options for the player, in terms of their gameplay.”

The fact that the original crash games concept is already being tweaked and tailored shows us just how widespread the genre has become. But there is an argument that it all goes back to simplicity. Suppliers are competing to innovate yet, for now, Aviator remains the leading crash game by some distance. Perhaps there is no need for a live casino host; perhaps there is no need for a modification of the cash out function. Or perhaps these changes will, in fact, speed up the growth of crash games even further, taking them into the more mainstream markets and ensuring the kind of domination it is already seeing in Latin America, Eastern Europe and more, but on a truly global scale.

Whatever form they end up taking en masse, crash games have proved they are here to stay, with operators worldwide advised to cash in on the trend if they haven’t already. When all is said and done, it’s as simple – and effective – as that.

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FROM THE GROUND UP

At the unveiling of EveryMatrix’s new o ce in Bucharest, Romania, Gambling Insider Sta Writer Beth Turner sat down with CEO Ebbe Groes to discuss the new o ce, catching market trends and running a modular company

“It’s nice to do something from the ground up,” reflects Ebbe Groes as we sit in his upstairs office penthouse, his dog Kaia beside him.

Groes is speaking to Gambling Insider at EveryMatrix’s new office in Bucharest, Romania. It is a surprisingly sunny day in March for the capital, with the penthouse’s large windows letting in the sunlight and making for great city viewing. However, unlike Kaia, now is not the time for us to lounge in the sun.

The office was purpose-built for the EveryMatrix team, which is said to hold

room for up to 400 of the supplier’s 1,000 staff. Each floor is divided into sections designed to hold different segments of the team, with a circular pattern light fixture in the front centre of the building to tie it all together. The lifts connecting the floors are high tech, with an efficiency akin to the doors of a London Underground train –that is, don’t try to get in while the doors are closing.

The office was unveiled to Gambling Insider on Monday 18 March 2024. Provided with a guided tour of the building and some insightful talks from various members of the

EveryMatrix team on the company’s various offerings, we were given the chance to chat with some of the senior team about the new structure. Step forward the CEO!

“I was there at the groundbreaking ceremony,” he tells us, before describing how he placed a time capsule with business cards and other items at the site so that “in a few generations, when this will be replaced by something, some space station, they’ll be able to find my card.”

The office is far more than just desks and chairs, however, if the penthouse we are in is anything to go by. The office

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FEATURES FROM BUCHAREST

also has a function space with its own kitchenette, and daycare space with an attached balcony. It also holds a staff gym and massage room, of which Groes is particularly fond of the boxing equipment (matching my personal delight at the inclusion of an indoor exercise trampoline).

So, surrounded by EveryMatrix’s new facilities, we delved into conversation.

Future expansion

According to Groes, deciding on where to expand the business is “more than just adding numbers.” It is about finding regions with the right amount of business and building from there. “The US is a good example. For instance, we spent a lot of time and a lot of money on getting the licences and having a team on the ground. But the business we have there today is of a lesser scale, so it’s about taking this and growing it.”

The majority of EveryMatrix’s work is in Europe, Groes explains. Despite this, there is an awareness that there are still opportunities to be embraced; an important tactic both defensively and offensively. “There’s a bit of a grow or die thing here, so we’re growing and we’re happy. You have to stay aggressive like sharks. Even though they might be unpleasant animals for small fish, we have to embrace a shark mentality.”

Being a 360-degree supplier

EveryMatrix operates with a modular system; each of its divisions, be it its lottery division, sports betting division OddsMatrix or affiliate division PartnerMatrix, works independently, with its own C-suite overseeing operations. It provides a way to customise the client experience with the products they need, while having a solution for all operating needs available if desired. It is a multiproduct approach, with clients able to pick and choose as needed. “This is one of the big downsides of selling solutions that are fully integrated only with themselves. You can never know if there are weak points in your delivery masked by things that work really well.

“Each module has its own CEO, CTO, divided so each part can shine on its own,” Groes continues. By dividing the business into modules, each segment can perform individually. No one module can significantly drag down the performance of others. Plus, as the CEO himself quips: “If it’s homogeneous, I don’t have to work!” Joking aside, a modular company makes for a reduction in micromanagement, allowing Groes to keep his focus on the big picture. A helicopter view, so to speak,

Ebbe Groes

which gives other C-level specialists the autonomy they need to run their respective divisions.

DeepCI and the power of AI Speaking of segments, we then get on to discussing DeepCI, EveryMatrix’s AI overlay tool that was acquired last year, and has received praise from across the industry. “The first thing we did was double the staff,” Groes recounts.

“It’s less than a year ago since we acquired them. Innovative products; the first of their kind on the market. It was a great idea. They managed to build a profitable business with many clients before we acquired them. I said: I really admire what you’ve done.”

This admiration for the DeepCI team resulted in a new, permanent residence in the Philippines – DeepCI was no longer a “working from home, classic freelancer start-up.” Groes wanted to do this properly. The once-scattered development team now has a base of operations, with new salespeople, account managers and a Chief Commercial Officer to boot. DeepCI is used by PartnerMatrix to combine traffic data and package it to bookmakers. Whether this is the frequency with which their name appears on social media or how much money an operator is generating, data can be combined to paint a picture of where the money is coming from and where there is room for improvement. The integrated solution with DeepCI and

PartnerMatrix’s affiliate system is expected to make an appearance at iGB Live in Amsterdam this summer.

Turning back the clock

If the Bucharest office wasn’t enough to bring about some perspective on the development of EveryMatrix from its founding in 2008, Groes spends some time reflecting on his experiences in the gaming industry. “It is incredibly volatile. It’s incredibly challenging.

“Personalisation is something other industries, especially those operating in digital spaces, have caught on to. It seems, according to Groes, that now is our time to catch up”
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The landscape is changing constantly... It is one of the reasons why I think many people enjoy being in the industry. What was conventional wisdom and the leading operators and providers 10 years ago, even five years ago, can change dramatically. You see the rise and fall of empires, not measured in a generation but in a decade or less. You need to constantly reinvent yourself.”

Technology, naturally, has played a big part in this. Technology provides opportunities for creativity and drives ideas to completion – though with new technology also comes new regulation. “Regulation may be a bit of a boring topic. But if you talk about what has really changed in that 15-year period, it will be regulation. At the time when we started the company, you would have a UK licence. Then almost anybody, any other country, would target with some dot.com licence, The Isle of Man, Malta, etc. All this changed; the US back then was not open. So there has been a massive change in that way.”

Complexities for operators result in benefits for cross-border technology providers like EveryMatrix, according to Groes. With growing demands and growing regulations as the years have gone by, I found all this talk of evolving technologies and evolving markets intriguing. Sure, it is easy to see now who the big players are and where industry interest is, but can you spot these trends before they hit the mainstream?

Is there a way to tell between a trend that’s here to stay and one that will fizzle out?

“That’s a good question,” Groes remarks. “I do think you grow capability to judge and evaluate, and have opinions. The whole history of the industry is littered with examples of smart people and wellfunded people that made very large bets on things that went horribly wrong. You’re forced to do it anyway; it’s not like you can just escape making these bets.”

Though, EveryMatrix does have one advantage mitigating the fallout of a bad bet. Its modular approach allows trends to be chased as seen fit, without putting the company as a whole at risk. “We can place bets on various trends and more than one.”

EveryMatrix also operates EM Labs, an interesting module of the company that was emphasised during EveryMatrix’s presentations at the office during our media trip. The EM Labs, as far as I was aware, seemed like the perfect playground to try out these emerging technologies – with some forward-thinking results to come

46 GAMBLINGINSIDER.COM FEATURES FROM BUCHAREST
Our writer Beth Turner watching the day’s presentations

from it. “We launched live dealer two months ago; that was a lab project and quite a large one. We knew from the beginning it would be several million Euros. We built it from scratch and I’m not running it personally. So, for a period, I was devoting myself to hiring the management team. They were all hired by April two years ago. In the first year, we built the software and year two, which is now almost over, we moved into the production stage... It’s a lab project. We take it to a certain state and say ‘looks good!’

The power of personalisation

All this talk of trends has me wondering – what trends were on Ebbe Groes’ radar?

The surging popularity of crash games, the emerging live dealer market? His answer is far simpler; personalisation. Personalisation has been a developing point of conversation across the industry (see our interview with Atlas Worlds Sports Founder and CEO in the May edition of Trafficology for more). “Many others have been preaching that personalisation towards the player would be such a key element. It’s sort of coming around now, but I really thought it would have come earlier.”

Despite many across the industry trying their hand at personalisation, including EM Labs, “more or less, nobody has succeeded,” according to Groes. Personalisation is essential for keeping players engaged with a product. If it doesn’t cater to them, why stay? Why not visit a different sportsbook that may have better odds and better introductory

customer offers? Personalisation is something other industries, especially those operating in digital spaces, have caught on to. It seems, according to Groes, that now is our time to catch up.

Groes describes personalisation as one of the industry’s “holy grails.” He says he is “watching to see who will finally get this sorted properly because it should have happened,” and that he is “working with other companies that are trying to solve this.” He adds: “We’re going to take the data we have and try to enrich it to have some sort of foundation. If you sit on data, you can do great things.”

Hopes and dreams for 2024

To conclude our chat, I go with a classic. Despite it being an easy last question, it is one I always anticipate; especially from those with as wide a birds-eye view on their company as the CEO. “Financially, I hope we can do what we did last year, which was outstanding,” Groes began. “We achieved 75% growth last year. I hope to do at least 50% and keep this momentum. It’s helping so much with many other things we’re doing. It’s a bit boring to have financial targets like this to be what you hope to achieve.”

Alongside financial goals (which are not boring, I’ll have you know!), Groes speaks about some of the projects EveryMatrix hopes to get off the ground this year, including live dealer. “It’s like a baby. You put a lot of effort into it, we want to see it succeed. Now it’s just been launched, we have to improve. But, you know, as with all

babies, the first one is the crucial one. I really hope if I see you again in a year from now we will say ‘wow, this new product that was a recent output from our labs really came off to a good start.’ If not, we will have to say goodbye to that one and hope for the next baby.”

For all the firstborn children out there, we wish EveryMatrix’s live dealer product well!

The aftermath

After my conversation with Groes –and other members of the executive EveryMatrix team, which you can find on our website and GI Friday – we headed off to dinner. The Truffle Risotto was wonderful (as was corroborated by Group CCO Bobby Longhurst) and we found that Ebbe Groes has great taste in wine.

Before my return the following afternoon, myself and others from the EveryMatrix team and took a tour of the city, noting historic landmarks and taking in stories of the city from our tour guide.

My personal highlights included the Romanian Patriarchal Cathedral and views of the Palace of the Parliament, alongside what might be the best orange juice I have ever had from the hotel’s breakfast selection.

EveryMatrix’s hospitality cannot be understated, considering the openness and kindness of the team. This was a trip that will not be quickly forgotten. But where, as Groes said earlier, will EveryMatrix be as a company 12 months from now? We will be sure to check back in and find out.

Pace și dragoste, România!

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The EveryMatrix Team and guests
Could 2024 see a UK baccarat boom?
It’s fair to say roulette and blackjack dominate the UK casino market – but could that change this year? Gambling Insider speculates...

Baccarat isn’t a new game by any means. In fact, it can be traced back to the 15th century. It’s hailed as one of the grandfathers of modern betting, so why isn’t it popular in the UK?

If you go to a standard retail casino outside of London, it’s unlikely you’ll even find it on offer in the pit. It’s more likely to be on offer in high-stakes casinos and, even then, it’s limited in tables. For those of you who aren’t sure what baccarat is, it’s a card game played between the player and the dealer. Both the player and the dealer, who is known as the ‘banker,’ are dealt two cards – and the hand closest to nine wins. The odds are simple, as the winnings are simply double what you bet. There are a few different variations, Punto banco, Chemin de fer, Baccarat banque, but they are still centred around the same idea. So, it’s simple to learn, it has a few different variations and it’s huge in other countries. But baccara is not yet popular in the UK...

THE HISTORY

There are a few different reasons as to why. One of the most likely is that while baccarat was traditionally always seen as something to be enjoyed by the upper class, other table games like blackjack and roulette grew in favour with everyone else. Throughout the 18th and 19th centuries, gambling was seen as something that the lower class fought

FEATURES BIG QUESTION 48 GAMBLINGINSIDER.COM

over in dark pubs, while the elite classes were separated from them in private clubs, often found in the St James District in the West End of London.

So while baccarat was big during this time, it was only big behind closed doors. This divide between the classes was only widened in 1890 after the Royal baccarat scandal, which involved the Prince of Wales and future King of the United Kingdom, Edward VII. “He is ... condemned by the verdict of the jury to social extinction. His brilliant record is wiped out and he must, so to speak, begin life again. Such is the inexorable social rule... He has committed a mortal offence. Society can know him no more.” - A local newspaper, 1891.

The case itself is extensive, but the short version of the story is that Sir William GordonCumming, a well-known socialite and lieutenant colonel, was accused of cheating during a game of baccarat. After he was observed acting suspiciously, he signed a document promising to never play cards again. Unfortunately, the situation spiralled until it was taken to the Royal Courts of Justice.

After an extensive trial, in which an heir to the throne was called to court for the first time since 1411, Gordon-Cumming was found guilty. But more importantly, he was dismissed

from the army and had to spend the rest of his life ostracised by British society. He retired to a remote location in Devon...

But that was over a century ago, why does that matter? Well, the game in the UK never really recovered. Not soon after this, Britain sent a generation of young men off to fight in World War I. They gambled, but this was predominantly brag, pontoon and nap. A diary from a soldier at the time called Clifford Lane explains this perfectly: “I can’t remember exactly how it was played but it was a simple game. Nothing like bridge, nothing intellectual at all.” “Gambling? Good lord! People were gambling night and day; all day long, gambling. Oh, that was a very profound recreation, that. I wasn’t much good at that, myself.” - Clifford Lane, of the Hertfordshire Regiment, 1917.

So between the poor public view of baccarat, the rise of the middle class and the preference for other games by soldiers throughout the wars, the game slowly slipped out of public knowledge. If you ask most British citizens nowadays, many won’t even know what baccarat is. They might even get it confused with backgammon...

MACARRAT

But that hasn’t stopped it from being the biggest game in other countries. Let’s start with Macau, one of the most iconic gambling locations in the world. Year after year, baccarat has been the most important table game in the jurisdiction, with the taxes from this one game contributing the largest single source of public funding in Macau.

Of course, the gambling industry in Macau is still recovering in the aftermath of Covid-19, so let’s start with figures from 2018. Gross income from baccarat, VIP baccarat and three public baccarat totalled MOP$269bn (US$33.4bn) during this year, far exceeding anything else. In comparison, blackjack brought in MOP$2.7bn and roulette trailed behind with MOP$1.1bn.

Despite it not being back at peak levels yet, figures from 2023 were still notable all the same. The three forms of baccarat came to MOP$156bn, while blackjack had MOP$2.3bn and roulette is yet to break into the billions at all. That’s just Macau though, right?

Actually, it’s not. Baccarat is booming in the West too, with Nevada and the Las Vegas Strip seeing bigger numbers than ever. In the FY2023 report by the Nevada Gaming Control Board, baccarat revenue increased 80% in the last three months of the year, making $1.49bn in revenue for the full annual timespan. When looking at the Las Vegas Strip, we can see that $1.47bn of the statewide baccarat revenue

came from this area specifically. This isn’t even accounting for mini-baccarat or any of the other variants. To put this into perspective, in the same period blackjack accounted for $1bn, roulette saw $385m. Other than multi-denomination slots, baccarat was king in Las Vegas. While almost every other game was in decline in Vegas during 2023, including blackjack, three-card, Let It Ride and even sports betting on football, baccarat increased by 30% year-on-year.

UNITING THE KINGDOM

If it’s such a great source of revenue, why isn’t it offered in the UK? The short answer is: we don’t know. You would think the single biggest source of public funding in Macau and the biggest game in Las Vegas would be one of the priorities for UK casinos. For whatever reason, many of them have been slow in training croupiers for the game, ordering the tables, or showing any real will to offer the game at all.

Might it be difficult to keep ignoring the numbers, though? Perhaps it was easier to mark it down to simply being successful in Asia and that it wouldn’t translate well to the Western audience, but Las Vegas' recent success has added a little plot twist to that theory. Not only has baccarat earned its place at the table, it’s actually put the table – and everyone at it – on its shoulders and walked off into the proverbial sunset with them.

As Genting Casinos has quite heavy ties to Asia already, it could make senes to see this particular chain start to introduce it in more locations. A quick look at the Genting website will show you that it’s offering baccarat in more locations than ever; not only in the expected locations in London Chinatown and Resorts World, but also in Brighton, Glasgow and Newcastle now.

While Grosvenor hasn’t been quite as eager to pick up the game, it has recently launched live casino on its online platform which includes baccarat, among roulette and blackjack, of course. So while it isn’t risking offering it at retail yet, it’s definitely dipping its toes into the water. “As the largest casino operator in the UK, we’re on a mission to broaden casino gaming’s appeal to a new generation of players.”Spyros Kanakis, Grosvenor Casinos Head of Gaming Commercial, on launching the Live Casino Studio.

Even if baccarat has had a rough few centuries in the UK, it seems like the game is slowly returning. Considering the results seen in other countries, it would be foolish to keep ignoring the potential baccarat has. Ultimately, it may take a few years to really gain traction with players, but don’t be surprised if you start seeing baccarat popping up across the market in 2024.

FEATURES BIG QUESTION 50 GAMBLINGINSIDER.COM

Could 2024 see a UK baccarat boom?

Long-time Gambling Insider regular columnist and land-based expert Paul Sculpher provides his view on our Big Question. Sculpher is not as confident UK baccarat will thrive...

It’s pretty tough to believe that baccarat is going to see a resurgence in UK offline casinos. It’s played as Punto Banco in the UK, and you currently won’t see it in too many casinos outside London. You might spot a table in the bigger cities, or in a casino that’s close to the local Chinatown (Genting Hurst Street in Birmingham, for example, or Aspers on Stowell Street in Newcastle).

Notwithstanding any resurgence overseas, I struggle to see how it’s going to get a lot of traction. As a player, while once you know what’s going on it’s exceptionally simple (bet on outcome A or outcome B at roughly even money – like Red/Black on roulette) it takes a while to understand the card drawing rules/tableau. That’s time that UK casino

customers aren’t generally willing to invest, so my feeling is from a customer point of view it’s a tough sell. It’s not like you can watch for 10 minutes and have confidence that you know all the details, unlike for example Three Card Poker. If you’re the operator, it also has drawbacks. An edge of around 1% is way lower than other table games, and while game pace can be quicker, you still need decent-sized bets to make the numbers stack up. Add in the fact that these days your limiting

factor is often number of staff available, and it’s very tough, in the short term, to see a situation where managers are going to open a low earning Punto table instead of a high earning roulette table; even if they suspect they’re going to grow the Punto game over time. The UK industry is inexorably headed down the higher stakes/fewer tables and staff route for table gaming, which doesn’t leave a lot of room for experiments. While side bets and jackpots can put a bit of life into any game, you need to have people playing the thing in the first place before the bells and whistles make any difference.

The other related issue is while we’re looking at higher stakes at the table minimum end of the market, the very top-end HVC play is being dramatically impacted by AML restrictions. It’s tougher and tougher to get huge players through the Enhanced Due Diligence process, so hoping for a resurgence from a slow game with a low edge that partially relies on much larger bets (from much bigger players) seems a challenge.

Where you might see a bit more action is on ETGs. In the UK, the big question is still whether you can offer gaming terminals driven by Random Number Generators (EGTs with RNGs….), but even if not, operators can offer terminals linked to a central dealing podium to at least make Punto available. If RNG were to be legal, it would be one of hundreds of games and game variants, and in this situation do I think it’s going to dominant? No, not really. It might be incremental income for a certain market cohort, and that’s got a lot of value, but I just don’t see baccarat as a large part of the future.

FEATURES BIG QUESTION 52 GAMBLINGINSIDER.COM
Paul

THE MATHS BEHIND A ‘BLOCKBUSTER’ ONLINE SLOT

Katya Machuganova , Product Owner at Silverback Gaming, believes that, ultimately, a great online slot is all about the numbers

Maths is one of the most crucial aspects of slot development. It has a huge influence on the gameplay and the overall experience the player receives. It dictates the volatility and return to player, as well as things like bonus frequency and the max win potential.

The max win potential is often a deciding factor when players are looking for the next slot game to play – the bigger the max win potential, the more attractive the title can be. But it’s not just as simple as cranking the win multiplier to the max. Maths is about striking a balance between all the different aspects it has an influence over.

VOLATILITY AND RTP

The aim of the game here is to heighten player excitement through the right combination of bonuses, hitting at the right frequency with the potential to deliver big wins at the right cadence. Volatility and return to player are perhaps the most important areas in this regard.

Volatility – the level of risk associated with the slot – is intrinsically tied to the maths models used in the game. Higher volatility leads to less frequent but potentially larger wins, appealing to those who enjoy the thrill of greater risk

in exchange for bigger rewards. On the flip side, lower volatility delivers more consistent yet smaller payouts, appealing to more casual players. Given the two different player audiences volatility can appeal to, studios need to curate a portfolio of games with a range of volatilities so that operators can engage the widest audience via their content.

The same applies to RTP. This is increasingly being dictated by regulation and operator demand for lower volatility slots amid shrinking margins. Again, the return to player, the percentage of wagered

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FEATURES A NUMBERS GAME

money that is paid out over time, is tied directly to the mathematical models used in the game. It also serves as a benchmark for fairness and transparency, with players able to see how much the game pays out on average.

Because different markets have different RTP requirements, we have implemented multiple RTP options for our maths models. This flexibility allows us to adapt to and comply with the rules in each market that we offer our games, and to meet different operator needs.

NUMERICAL FOUNDATIONS

Maths is the foundation of the game, considered very early in the development of a slot. First, a product team outlines the game specifics in a concise technical specification document, covering various aspects such as game type, theme, slot definition, lines/ways evaluation, number of lines/ways, quantity of regular symbols (both low and high paying), special symbols, desired volatility and target jurisdictions. The expected return to player and hit rate are included, too.

This is then handed to the maths team, which conducts a detailed analysis, deepdiving into the technical intricacies of the game and the specifications provided. This includes specific details for each feature, both in the base game and during bonus and free-spin rounds. For each feature, the expected hit rate, trigger condition and a comprehensive explanation of the mechanics involved are included.

This document is meticulously crafted to encompass all special requirements and corner cases. By taking this approach, suppliers can be sure that different features complement each other seamlessly, resulting in a cohesive player experience that is exciting and delivers plenty of big win potential. It also allows us to innovate, and try new things with a level of certainty that the result will create compelling gameplay that hits the mark with the intended player audience.

A NUMBERS GAME

There is a lot that can be done with game mechanics and maths models, including introducing new bonus features, reimagining reel layouts or devising new payout structures. Ultimately, this all comes down to maths. It’s also important to note that maths plays a crucial role in the operational aspect of games. Setting up the correct bet configuration and managing the max win exposure are all integral parts of the process when integrating slots with an operator. Online casino and slots are all about entertainment and excitement but, under the hood of each ‘blockbuster’ title, it’s very much a numbers game.

Maths is the foundation of the game, considered very early in the development of a slot
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MANAGING THE MISCHIEF

The landscape for betting adverts is changing – but finding that magical angle for sports betting advertisement is just another day in the office for Ken Robertson & Gethin Evans (formerly of Paddy Power). The two industry veterans spoke to Gambling Insider about their new venture, and the past, present and future of the industry

Between you, there is a combined 35 years of industry experience that has led to your latest venture in the Tenth Man. Talk us through your respective journeys and what the vision is moving forward.

Ken Robertson: So, my career in the sports betting world started in the last millennium, I went to work for Paddy Power back in 1999. I was the first person brought in to essentially set up a marketing function for the business back then. At that time, Paddy Power was an Irish high street betting chain. My first job as a

marketer was to help launch Paddy Power.com, which was the first time any high street sports betting brand made that transition from the high street to the online space. So, Paddy Power.com was the first ever online sports betting website and obviously became a massive success. I spent the following 18 years really crafting that very unique, disruptive brand into something that just became synonymous with sports bettingbut also, from a brand point of view, just really leaning into that unique secret sauce the Paddy Power brand had.

“ There remains something incredibly strong in the Paddy Power marketing team. I love to see the brand continue to do so well ”

I worked with Paddy Power right up to 2017 and, along the way, I guess my own name became very closely attached to Paddy Power and specifically to that more disruptive side of the marketing mix. Then, after a little bit of time going solo, we set up the Tenth Man in January 2018. So, that’s essentially my history in sports betting: 18 years, all with Paddy Power. I was on an incredible journey with Paddy Power in terms of the online launch, then mobile betting comes along. Through a series of acquisitions and mergers, Paddy Power went from being this small little Irish high street betting chain to – when I left – the biggest thing around. It was a phenomenal journey to be on and I got to work with some pretty smart people along the way.

Gethin Evans: My background in sports betting is relatively quirky. I spent probably the first five or six years of my career in risk management. Then I worked for Coral for a

56 GAMBLINGINSIDER.COM

long time, was very involved in horseracing and football. I was keen to move into the marketing space and that all fell into place when I joined Betfair about six months before Breon Corcoran joined. They were looking for people who had strong sportsbook experience and operational experience to help the marketing evolve as they launch a sportsbook. That led me into leading promotions and working with effectively the marketing planning team. So, linking commercial with finance guys and then the trading guys with the marketing guys, and just putting all that together at Betfair. I was very lucky. Then I moved to work in exchange licensing in the US, which was a great opportunity for me. After that I moved again and did seven years at Paddy Power. I was too scared to speak to Ken because I was in awe of this genius. Then I moved to work on Virgin Bet which, again, was good experience for me. I was the first person, really, who’d done tier-one work in the UK to go and

work on that product. I was offered the chance to go and work on the media site. After doing 15 years on sportsbook, I was happy to go and test myself outside of that environment, and that was with Racing Post Group, which is now part of Spotlight Sports Group. I had a great five-year ride, really enjoyed it and it was a brilliant case study in terms of how to get things done. Then, Ken rang me a few months ago, and here we are.

Out of the campaigns that you’ve worked on with Tenth Man so far, which have stood out to you the most?

GE: I really love the Shaquille O’Neil campaign on PointsBet in Australia. I think taking that American personality and making that work in the local (Australian) market is not easy. You can see the strategic thought being pulled through and I think it’s a great campaign. It’s got the right tone.

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Gethin Evans

It’ll play into thelocal audience having spent time out there, and obviously Ken spent time out there for many years.

KR: For me, the one that’s probably most relevant to the sports betting category is what we did for PointsBet at the time in the US after they moved from Australia. This is before they were obviously bought by Fanatics last year. We’ve been working with them since mid-2023. One of the challenges we were given was to try and create a standout brand moment. Almost from the Paddy Power playbook. So, we came up with this campaign, where we’d take one of the brand ambassadors, a guy called Drew Brees, who was a brand ambassador for the NFL. He was quite a legendary

Ken Robertson
“The Pistorius campaign maybe hasn’t aged that well, but it still remains the most complained about ad in British advertising history. So I guess I do take a little bit of satisfaction from that! ”

player back in the day, an MVP, and just a really interesting guy. We were trying to create a campaign to market a new product called lightning bets. Lightning bets are very fast in-play betting markets. It’s very hyper focused, in-running betting offering and they’re branded as lightning bets. So the idea then was – we bring Drew Brees, our brand ambassador, down to a place in Colombia called Catatumbo, which is famous for being the home of lightning. There are loads of lightning strikes per day in in this particular place. So we shot an ad and created a video moment which essentially looked like Drew Brees had been struck by lightning.

Then, we very craftily over the course of the following couple of days, released the clip in the depths of Reddit and left it to work its magic. It percolated up and suddenly became this massive story. So that was one that was a clear highlight for me in the past year or two. Although it was fascinating to hang out with Shaq as well.

Gethin, with your international reach, how do you navigate targeting your advertising campaigns for different audiences whil adhering to local and international regulations?

GE: What I think is really valuable is the fact the UK market is more mature than a lot of markets in terms of regulation. Ken and I’s starting point is, ‘what would pass the test in the UK?’ As long as you’re starting there, I think you can’t go too far wrong. As long as you’re in that space, that’s the right place to be because the UK is ahead of the regulatory curve really, in many ways. But equally if it passes the moral test, too, in terms of making sure we’re not misleading anyone, I think that’s also very important.

Ken, you told the Irish Times that the ‘money back if he walks’ campaign on Oscar Pistorius’ trial was your proudest moment with Paddy Power for a ‘variety of reasons;’ would you say that’s still the case? How do you feel about the legacy you left behind there?

KR: In terms of the second part there, incredibly proud. Some of the highlights along the way from taking bets in St. Peter’s Square to the Pistorius campaign, to Nicholas Bendtner, it really was an extraordinary run. Paddy Power is one of those very unique brands that gives me as a senior marketing person a lot of latitude and creative freedom to do that type of thing. The Pistorius campaign maybe hasn’t aged that well, but it still remains the most complained about ad in British advertising history. So I guess I do take a little bit of satisfaction from that!

I know it was after your time, but what were your thoughts on Paddy Power’s ad with Rhodri Giggs, Ryan Giggs’ brother?

The Gambling Insider team feels it may be the best advert of all time...

KR: I think that campaign really captured the essence of Paddy Power uniquely. There remains something incredibly strong in the Paddy Power marketing team. I love to see the brand continue to do so well.

What has changed in sports betting advertising since you came into the industry?

GE: I think what’s changed is people trying to find distinctive positions that they can use over time, that then compound and allow you to make an impact with marketing, and that’s what it should do. In turn, that’s made it harder to take a position and own something distinctive that makes you stand out for customers in a homogenous market. Really good marketing should be when people are thinking about sports betting, they should be thinking what’s the value proposition for this brand? Why does it mean something to me?

With gambling brands to be banned from football shirts and increased responsible gambling regulations, what are your predictions for the evolution of sports betting advertisement over the next 5-10 years?

KR: I think it’s actually a good thing. A lot of the past 10 years has been – to a point – a bit of a race to the bottom in terms of: find a football team, stick your logo on it and job done. Well, you know what? It’s not that easy. The beauty of Paddy Power from the very get-go was that they were always keen to explore nontraditional means of advertising, of marketing, of communication. So in in a way, I think a lot of the operators will look to Paddy Power in terms of how they have been so successful at doing what they’re doing. I suppose to try and answer your question, I think it’s just going to force operators to be less traditional in the way they promote their brands.

GE: I would agree with that. I think one thing we know for sure is what’s happening today won’t be the same in 12 months, two years, three years, five years. Sports fans won’t change. What will change is how sportsbooks market, like other sectors that are regulated, which channels they can use and when they can use those channels. I feel the fundamentals will be: unless these brands can still be super authentic at every touch point, their users, prospects or people they want to bring back into their ecosystem –they just won’t work.

58 GAMBLINGINSIDER.COM FEATURES MARKETING & ADVERTISING

GREEN LIGHTING GREATER TRAFFIC

Popunder tra c is a phenomenon in internet marketing that focuses on capturing the attention of a mass audience with content based on popular current topics, trends and issues. The team at 1xPartners tells us more…

POPUNDER TRAFFIC

The term “popunder” is a fusion of “populism” and “pandering,” implying the endorsement of popular views or the interests of the masses, while neglecting more profound or complex subjects. Popunder traffic is frequently employed to boost traffic to websites, on social media and in content marketing. This strategy seeks maximum audience engagement by catering to their current interests and emotions. It can encompass crafting headlines and content that elicit strong emotions, employing popular hashtags and trends on social media, and promptly responding to current news and events.

The traffic obtained in this way can and should be monetised. However, using popunder traffic can raise ethical and quality concerns, because it sometimes entails sacrificing accuracy and depth of information for the sake of mass appeal. Therefore, before employing this strategy, it is crucial to carefully weigh the pros and cons and ensure it aligns with your goals.

whether popunder traffic

several factors. On one

users, especially when capitalising

popularity of sports, content related to it is imperative to consider This approach can yield

website visits that may not

Furthermore, the industry specific popunder strategy might lead to legal and reputational issues.

to shifts in legislation and advertising betting

ADVERTISING IN 2024:

ADVERTISING IN 2024: IS IT STILL VIABLE?

strategy, factors like popunder working reputable popunder ad network

whether popunder traffic is a viable choice in 2024 for the betting context hinges on several factors. On one hand, buying popunder traffic can be an effective means to capture the attention of potential users, especially when capitalising on current sporting events and trending themes. Given the enduring popularity of sports, content related to forecasts and wagers can resonate well with an interested audience. Conversely, it is imperative to consider the drawbacks associated with popunder traffic. This approach can yield fleeting and low-quality website visits that may not readily translate into conversions. Furthermore, the industry adheres to specific regulations and limitations, and utilising a popunder strategy might lead to legal and reputational issues. It is important to emphasise that, in 2024, staying attuned to shifts in legislation and advertising requirements in betting is of paramount importance. When considering a popunder-based strategy, factors like popunder CPM rates and working with a reputable popunder ad network should be evaluated carefully to ensure compliance and effective advertising. It may also be prudent to combine this method with more stable and quality-driven approaches, to attract and engage an audience within the betting industry. frequently employed to boost emotions. It can encompass and quality concerns, because it of mass appeal. Therefore,

especially within the realm of gambling, the evolving landscape and the shifting

In the world of internet marketing, especially within the realm of gambling, it is crucial to continuously adapt to the evolving landscape and the shifting preferences of your audience. Determining

ensure compliance and effective stable and quality-driven approaches, to attract and engage an audience within

60 GAMBLINGINSIDER.COM FEATURES POPUNDER

GENERATING POPUNDER TRAFFIC: METHODS AND TECHNIQUES

In the realm of gambling, as in other facets of internet marketing, generating popunder traffic necessitates a strategic approach. Popunder traffic can be effective, but it’s imperative to employ it judiciously, taking into consideration the industry’s nuances and constraints.

1. Creating content based on sporting trends and events: One of the most effective methods to generate popunder traffic in betting is adapting your content to current sporting events and trends. For instance, publishing forecasts and analytics before significant matches or sports events can capture the attention of enthusiasts and players.

2. Utilising social media: Active participation on social media platforms allows you to attract an audience through strategic advertisement placement and clickworthy content. Leveraging relevant hashtags, engaging in discussions and utilising eye-catching visual materials in the right format is crucial to garner attention for your betting website. Staying in tune with sports trends and actively participating in discussions further enhances your outreach and visibility.

3. Supporting current events and news: In gambling, just like in any other industry, current news can serve as a potent source of traffic. React to significant events, engage in discussions and offer your own analytics related to potential wagers. This can attract both regular customers and new visitors.

4. Emotional content: It’s essential to create content that elicits emotions and piques interest. Emotional headlines and visuals can draw the audience’s attention

and motivate them to explore your content more deeply.

5. Partnerships with influential figures: Collaborating with influential betting bloggers and sports experts can help you attract an already active audience.

6. Compliance: It’s important to remember that the betting industry is subject to various restrictions and regulations pertaining to popunder ads and compliance with the law. Therefore, generating popunder traffic should not only be effective but also in adherence to legal standards and industry norms.

THE ADVANTAGES AND DISADVANTAGES OF POPUNDER TRAFFIC

As in any other domain, popunder traffic comes with its own set of advantages and disadvantages. Let’s delve deeper into them:

Pros:

1. Rapid audience growth: Utilising popunder traffic enables swift audience engagement with your website, especially when you actively respond to current events and trends.

2. Attracting new customers: Popunder traffic can draw in users interested in sports and events who may not have previously been acquainted with your betting offers.

3. Wide audience reach: Utilising popunder traffic, including popunders and push advertising, can significantly expand your affiliate network’s reach. This broad approach increases the likelihood of attracting a larger number of customers and, in turn, boosts the volume of bets placed on your platform.

4. Relevance: By capitalising on current events and trends, you can maintain interest in your website, and engage in discussions and events, thereby enhancing your reputation.

1. Transience: Popunder traffic is often transient and fleeting. Users may visit your site only during current events and promptly forget about it afterwards.

2. Low engagement: Users drawn in by popunder traffic may not readily convert into genuine betting and sports enthusiasts, potentially impacting your CPA (Cost Per Acquisition) metrics. Maintaining active contact and targeted strategies to capture their interest is essential for encouraging long-term activity on your website.

3. Ethical concerns: Employing popunder traffic can lead you to focus on popunder and exploit current events, potentially giving rise to ethical issues.

4. Competition: Popunder traffic is popular and the competition for audience attention is intense, necessitating a struggle with other betting websites.

It’s important to bear in mind that popunder traffic can be effective but should be integrated into a comprehensive marketing strategy. For long-term success, it’s crucial to diversify traffic sources, and focus on the quality and engagement of your audience.

1xBet is an international bookmaker. By collaborating with top-tier sports clubs and organisations like FC Barcelona, Paris SaintGermain, Serie A, OG Esports and Electronic Sports League, 1xBet enhances potential customers’ confidence in its services, which boosts the number of registrations and deposits. 1xPartners members get access to an extensive library of promotional materials, as well as the support of a personal manager and a high level of conversions. To date, more than 100,000 partners around the world have appreciated the benefits of the 1xBet Affiliate Program. If you want to join them, register and enjoy all the benefits of working with the global bookmaker 1xBet.

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POPUNDER FEATURES

CRYPTO, MEET IGAMING

Gambling Insider spoke with BetConstruct CEO Vigen Badalyan about the supplier’s goals for the year and its use of the latest technology

You joined Gambling Insider for a CEO Special interview in 2020. Can you tell us how your journey with BetConstruct has progressed since?

Since my 2020 interview with Gambling Insider, BetConstruct has launched innovative initiatives and significantly enhanced our existing products and solutions. Our focus on integrating cryptocurrency solutions has been a game-changer, exemplified by our MultiWallet system and Custom Token service, which revolutionise how users interact with crypto and fiat currencies, ensuring both

enhanced user experiences and compliance. Our commitment to technology and usercentric design has further been showcased through BetChain and our comprehensive crypto solution, establishing new benchmarks within the industry.

We’ve also dedicated efforts to improve our products, solutions and services, adding new features that enhance functionality and user engagement. This commitment to continuous improvement underscores our determination to stay ahead in a competitive market. The excitement extends to the B.F.T.H. Arena

My focus is on advancing the cryptonisation of iGaming, driving innovation and creating new technologies for the industry to keep BetConstruct at the forefront of innovation

Awards 2024, following the inaugural event’s success. This celebration of ingenuity in game development, with a generous prize pool, aims to inspire excellence and creativity in the iGaming industry.

Overall, BetConstruct continues to push the boundaries of technology and service, innovating and improving upon our offerings to meet and exceed the evolving needs of our partners and their users, thereby solidifying our leadership in the iGaming landscape.

How are you hoping your new partnership with Flutter will impact the company for the rest of 2024?

Our new partnership with Flutter Entertainment is poised to significantly enhance BetConstruct’s trajectory throughout 2024. Collaborating with such a global iGaming powerhouse extends our reach and introduces our products to a broader audience via Betfair International. This strategic alliance promises growth, expanded market presence and encourages innovation, setting new standards for

62 GAMBLINGINSIDER.COM FEATURES ONLINE GAMING

player engagement and gaming excellence. We see this partnership as a crucial step in accelerating our expansion, fostering product development, and redefining what players expect from online gaming, aligning with our commitment to excellence and innovation in the iGaming industry.

How do you reflect on your position as the continuing Lead Partner for the Global Gaming Awards?

It is an honour that underscores our drive towards innovation and excellence in the iGaming industry. This position is more than a title; it’s a platform to further influence the industry’s evolution and growth. My history of introducing tokenisation to the gaming sector marks a journey of pushing boundaries and setting new benchmarks. Through this leadership role, I am committed to fostering innovation, recognising excellence and contributing to the sustainable development of the global gaming landscape. It’s an opportunity to amplify our impact, driving forward with the same visionary leadership that has characterised our journey so far.

Over the last 18 months, you’ve debuted a new CMS system and your iGaming bot for Telegram –how do you think these innovations have fit into the evolving landscape of the industry?

BetConstruct’s CMS Pro enhances how content is managed across different platforms, offering a seamless, user-friendly interface that streamlines website management. This system not only boosts the efficiency of operations but also significantly cuts down on costs. Introducing the iGaming bot for Telegram taps into the growing trend of utilising messaging platforms for expanded services, providing users with easy access to gaming experiences directly through Telegram. This strategic move broadens BetConstruct’s reach and caters to the preferences of a tech-savvy audience, setting the stage for future innovations.

What further innovations can we expect from BetConstruct moving forward?

BetConstruct is advancing its technological development in the iGaming and betting industry, with a strong focus on blockchain through the integration of the Fastex ecosystem. This effort aims to enhance security, efficiency and engagement on our platforms, showing our dedication to utilising blockchain to transform the digital economy of our sector.

Additionally, we’re expanding our use of artificial intelligence with Hoory, our

AI-powered assistant, to transform and personalise customer service and user interactions. Expect more advanced AI solutions from us, aimed at making user experiences more personalised and intuitive. In summary, BetConstruct will concentrate on blockchain, AI and virtual reality to offer innovative gaming and betting experiences. We aim to lead the industry by following trends and by setting new standards.

You currently operate with offices in Uruguay and Peru. What’s on the horizon in Latin America for the company?

BetConstruct is focused on expanding and deepening its operations in Latin America, building on our current activities in Uruguay and Peru. We plan to grow through new offices and partnerships while customising our offerings to meet the region’s specific needs. Our goal is to connect meaningfully with local gaming communities by incorporating cultural elements, offering support in local languages and accepting local payment methods. As we evolve with the region’s vibrant gaming landscape, we’re committed to meeting the unique demands of our Latin American users and partners. Stay updated with our latest developments through our official channels.

What, in your opinion, will be the biggest opportunities for BetConstruct in 2024?

Emerging markets offer new grounds for our advanced products as global regulations evolve. Technological advancements in AI, machine learning and blockchain will improve our offerings, giving us a competitive advantage by enhancing user experiences and operational efficiencies. Mobile gaming always presents a significant opportunity for expansion; we plan to further enhance our offerings for mobile users. Strategic partnerships will also play a crucial role in expanding our reach and enriching our product range. Additionally, the industry’s focus on responsible gambling aligns with our goals to develop tools promoting safer gambling practices, positioning us as leaders in this vital area. These directions highlight our commitment to innovation, quality and responsible gaming as we look to expand and enhance our offerings in 2024.

Finally, what are your individual goals for this year and beyond?

My primary goal is to develop a new product within BetConstruct’s infrastructure, incorporating Ortak’s

ideology that every player can become a shareholder of the game. My focus is on advancing the cryptonisation of iGaming, driving innovation and creating new technologies for the industry to keep BetConstruct at the forefront of innovation. I plan to deepen our engagement with cryptonisation by utilising blockchain technology like Bahamut to enhance security and efficiency, setting new industry standards in the process.

Innovation is essential. I am committed to refining and creating technologies that meet the evolving needs of the iGaming sector from enhancing AI tools like our Hoory assistant to developing immersive experiences in FastexVerse, ensuring we remain leaders in tech innovation.

Staying ahead means constantly seeking transformative advancements that can redefine the gaming and betting industry. I am dedicated to ensuring BetConstruct keeps pace with these developments and shapes them, delivering personalised and secure gaming experiences. Overall, my aim is to reinforce BetConstruct’s status through strategic cryptonisation, continuous technological development and a commitment to industry progress.

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Vigen Badalyan

SUPPLIER POV: OMNICHANNEL OFFERINGS

Industry experts speak to Gambling Insider about the perfect blend of online and retail

With an educational background in electrical engineering and computer science, Isidoros Siderakis is a product manager who has held a range of project and product manager related roles. In 2021, Isidoros joined Altenar as Product Manager, quickly working his way up the ranks until he was appointed the company’s Product Operations Manager in February 2024.

What are the differences in regulation between online and land-based and how can a company navigate both?

RA: The land-based and online regulation requirements are different and have their specificities. Consequently, land-based regulation focuses more on physical security concerns, while online regulation focus more on mechanisms that ensure proper player verification to avoid fraud and money laundering. In this reflection, we must add another layer of analysis, reminding that regulatory landscapes vary from country to country.

Based on the daily challenges we face in the FBM® group, with the global operations of the FBM® and FBMDS brands, a company shall navigate both landscapes with a robust compliance team. These professionals shall have the necessary expertise to understand the complexity explained above, and respect the requirements of each jurisdiction in the land-based and online universes. Additionally, this team shall address predictable regulatory updates proactively and develop actions that allow companies to constantly monitor and comply with changing laws.

IS: Regulation for online and land-based sports betting can vary significantly depending on the region or country. First of all, both online and land-based sports betting operations typically require licensing or permits from regulatory authorities. The process, requirements and fees for obtaining these licences can differ. At the same time, tax rates on sports betting revenue can vary between online and land-based operations, or even between different jurisdictions and regions in the same country.

Other than that, regulation for online sports betting implies the implementation of geolocation technology to ensure that users are within the legal jurisdiction where betting is permitted. Obviously, this is not a concern for land-based operations in physical betting shops, but there might be other restrictions relating to the operating hours.

Last but not least, online betting operators are usually required to implement measures to protect consumers, such as responsible gambling tools, KYC and age verification procedures, while on the other hand, land-based operations might only need to verify the player’s age in physical shops. In conclusion, navigating these differences requires a thorough understanding of the regulatory landscape in each jurisdiction where a company operates or intends to operate.

Should an omnichannel strategy focus more on land-based offerings or digital?

RA: With a generic approach, I would say a good omnichannel strategy should balance land-based and digital offerings, exploring their complementarity. However, the starting point for this answer is one of FBM®'s distinctive characteristics as a global casino gaming supplier: knowing your target market.

First, companies must know their audiences to find the recipe that works. The digital platforms expand the range of accessibility and bring innovative possibilities to engage clients, while the land-based casinos offer an irreplaceable tactile and social experience, The companies shall monitor their customer data and understand where their clients are to adjust their focus.

If they pursue a perfect balance between online and offline, they can work on integrating experiences with gaming offers

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Isidoros Siderakis

or initiatives that stimulate a better synergy between both segments. For example, they can offer physical perks to players that complete online achievements favouring the connection between both mediums.

IS: An omnichannel strategy aims to provide a seamless experience across all channels, whether online or retail. The focus of such a strategy depends on the company's target market, competitive landscape and resources. Therefore, in markets where digital adoption is high and online sports betting is legal and popular, a company may prioritise its digital offerings. Conversely, in regions where land-based gambling is more prevalent or where regulations favour physical locations, a focus on land-based offerings may be more advantageous. Ideally, an omnichannel strategy should balance both digital and land-based channels to cater to a diverse customer base, maximise market reach and strengthen the sports betting brand.

How can engagement improve between operators and customers with an omnichannel approach?

RA: There are several ways to achieve this goal. The basic premise to reach it is to create a seamless and consistent user experience across platforms, allowing players to switch between online and landbased environments without friction points. In a perfect omnichannel strategy, players shall leave the land-based casino and join the online platform, keeping their user experience, rewards and customer service level.

Additionally, they shall get tailored product or promotion recommendations based on the product preferences they have shown. To complement this use of data and technology, operators can create connection points between platforms, organising offline and online dynamics to build a sense of community around the brand. Besides these solutions, one of the most important ways of increasing engagement is to have the feedback channels permanently open on both universes to refine offerings and platforms according to the direct inputs from customers.

IS: An omnichannel approach allows operators to interact with customers across multiple touchpoints, enhancing engagement and fostering loyalty. By integrating online and offline experiences, operators can offer personalised promotions, rewards, and experiences tailored to individual preferences and behaviour. For instance, a player who frequently visits a land-based sportsbook may receive targeted offers via a native

mobile app to encourage online betting during off-peak hours. Similarly, online customers may be incentivised to visit physical locations for exclusive events or promotions. At Altenar, our commitment is to continuously improve our services and provide our customers with the best possible experience. In this framework, the full portfolio of vertical products such as the native mobile application and full retail solution with self-service betting terminals could give a great advantage to the operators; not only by providing a superior betting experience through which sportsbook operators are able to attract and retain players, but also by increasing and scaling their market share in the competitive betting market landscape.

What role does AI play in the omnichannel process and what more can it do in the future?

RA: Artificial Intelligence can have a huge impact on the omnichannel process. This technology is already useful for several areas of gaming companies' operations, such as security, communication, product performance, customer service or risk management. If companies feed platforms with the right context information, they can create algorithms ready to analyse, organise and leverage customer data. The chatbots are a tangible example of this application since they are covering more request types due to the AI application.

We are exploring this technology only for a few years, so Artificial Intelligence will certainly expand its usability in the casino industry in the future. The algorithms refinement will allow companies to avoid fraud or predict players' behaviours more precisely, creating conditions to improve game offerings.

IS: When it comes to AI, this can play a crucial role in the omnichannel process by enabling operators to automate tasks, analyse vast amounts of data and deliver personalised experiences at scale. In the present, AI algorithms can be used to analyse customer data and behaviour to predict preferences, detect fraud, and optimise marketing strategies. For example, AI-powered recommendation engines can suggest relevant bets or promotions based on a customer' sbetting history and preferences.

Looking to the future, AI advancements hold the potential to further enhance the omnichannel experience. This includes more sophisticated personalisation algorithms, realtime predictive analytics, and the integration

of emerging technologies such as natural language processing, and computer vision to improve customer interactions and streamline operations.

Overall, AI will continue to be a driving force behind the evolution of omnichannel strategies, enabling operators to deliver seamless, personalised experiences that drive engagement and loyalty.

Renato Almeida grew up in São Paulo, Brazil and, after finishing his academic path, pursued an internship at NEC Brasil. He continued his professional journey at a bank automation company. In 1995, he joined Fabrica Brasileira de Máquinas Automáticas (FABAMA) as an Electronics Technician and worked at FABAMA for several years. After this experience, it was time to embrace a challenge at FBM® as a Technical Director, being later promoted to Vice President. Today, he is part of the Board of Directors and takes part in decisive matters that define the future of FBM® as a global gaming brand.

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Renato Almeida

THE INSIDERS

In every issue, GamblingInsider commissions guest columns and interviews with people at the heart of the gaming industry – to discover more about the challenges its leaders, pioneers and innovators face. These contributors form The Insiders

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66 GAMBLINGINSIDER.COM YURII BEREST DATA.BET
SIMON
WESTBURY SPORT GENERATE 68
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STEVEN
ALEX SCOTT WPT GLOBAL
VALENTINE COMTRADE GAMING

Utilising the energy of youth

Gambling Insider speaks to Sport Generate CEO Simon Westbury about the benefits of start-ups, technological innovation and relishing the challenge as CEO

When it comes to offering esports betting, how does Sport Generate stand out?

Firstly, I would focus on the fact that we only use official data to power our events and work only with official data providers. This may not seem revolutionary but the rights holders in esports are becoming increasingly proactive in protecting their intellectual property assets. Secondly, we must look at the product’s design; we have created a tailored thematic user interface that allows players to

"It is always a challenge to stand out, but being a young company gives an excellent perspective"

personalise their view.We have received great feedback through our demonstrations, particularly around how when you click on a gaming title like CS:GO, the whole theme of the page becomes CS:GO-centric, and if you change to League of Legends, the theme changes again.

We are excited to integrate widgets to increase customer interaction, too.

What role will AI and augmented reality play in online gaming moving forward? There is obviously plenty of hype around the topic. Will it live up to expectations?

The discussion around AI has been here for a while, but I think people are starting to see that you need to understand what you’re asking from AI before jumping in. Augmented reality is a slightly different topic. Both AR & VR will become ever-present in gaming, and we could see a smartphone moment as we did with mobile betting. One day – it simply happened; we are seeing the same now with AI and AR. Being a young start-up gives us the freedom to step up to the plate or live up to the hype. I am confident that our new table tennis AI-driven product with augmented reality will be a natural stimulant for growth. The AR overlay will increase many new touchpoints for interaction with operators’ end users.

How have you personally found managing your own brand as CEO, compared to your previous experience?

I have found the new role challenging, demanding and more consuming than anything I have ever done, but I have learned so much. From a personal point of view, I have developed a broader skill set, and I am now a more rounded professional.

To me, sales and business development were natural skills that came easily. Being CEO has not come as naturally, as skills that I had not developed in previous roles are needed, and I have been learning on the job. Of course, this is the best way to learn, and I am very thankful

to the talented team for their support over the last 15 months.

How has the online betting experience changed since you came into the industry, and how do you expect it to continue to evolve? It is a different world. As I mentioned earlier, back in 2007, mobile betting was the next big thing. I also remember the debate between 2D and 3D Poker being particularly ferocious. We have also seen the growth in sports betting as the conversation evolved from poker, to casino, to mobile and then sports betting. To me, the betting experience needs to evolve to be more personalised and player-centric. I have been on record since pre-Covid talking about this; many have told me it is easy, but I have yet to see a genuinely pure, personalised experience. The development and deeper understanding of AI will be a key driver in pushing a personalised experience to the forefront.

What are the upcoming sporting events you hope to look back on as highlights for Sport Generate in 2024?

Our odds feed product’s increase in activity over the forthcoming Euro 2024 and the Olympics in Paris will be a great test, and allow us to see it performing to the maximum of its capabilities. We have exclusive rights to four Armenian Table Tennis Federation Tournaments closer to home. We also provided the data and streaming for the first of these tournaments in early April. Again, the tenacity and ability of the Sport Generate operation team showed through. The first tournament was a success, and we look forward to the remaining tournaments this year.

How do you feel your brand creates an element of trust and rapport with users?

Openness, honesty, transparency, flexibility are our key brand values, and meeting our commitments both to colleagues and customers.

68 GAMBLINGINSIDER.COM INSIDERS SIMON WESTBURY

Appealing to many

CEO Yurii Berest discusses the inter generational appeal of esports, where it came from, where

it’s going and where his company – Data.Bet – fits into the frame

Overall, what do you think it is that younger players see in esports betting that has made it so popular in recent years?

Esports appeals to multiple generations simultaneously with its diversity, dynamism, accessibility and speed. However, speaking in terms of the young audience, people are primarily attracted by the opportunity to observe and directly participate in tournaments of the disciplines that were their hobbies in their teenage years.

Nowadays, the younger generation prefers content that doesn’t require prolonged concentration. Everything should be, “here and now,” if you will. Thus, esports much better meets the demands of modernity: short rounds, good dynamics, providing that desired excitement.

The sector experienced its primary surge during the Covid-19 lockdown, confirming its convenience and ability to thrive under any conditions. These circumstances allowed esports to establish itself in the industry, demonstrating its potential to both bettors and operators. That’s why the majority of the acquired audience remained interested when market offerings became competitive again After this, esports could demonstrate its other standout difference: much more independence from a season or weekday, where a player can always find the event that satisfies their current demand.

Do you believe the convenience factor is something that could draw both older and younger players towards esports betting in time? What is it about the virtual aspect of esports that you think appeals so much?

Again, we believe players of both age groups are already interested in esports. The main challenge facing the industry now is to attract an even bigger audience to showcase its appeal. Esports is a relatively new business, which can lead to some scepticism. However, as our experience with one of the most successful esports bookmakers, GG.Bet, shows, its freshness is also why it engages. Immersive visual effects, tools, characters, and frequent updates draw with their novelty and freshness

compared to traditional sports. With dynamic disciplines, various storylines and gameplay to suit any taste, the content is widely diverse and easily adapted to external factors.

Reducing user friction and ensuring accurate data seem to be key factors in enhancing the esports betting experience. How do you believe Data.Bet can stand out in these areas? These factors are more likely to enhance the exclusive content, as they enable operators to guarantee unique experiences reliably. The design a user sees, as well as the functionality of features an esports betting provider offers clients, relate to embedded solutions. At Data.Bet, we deliver a crafted product, Single Page Application (SPA), for which our team took all the beneficial traits of iFrame, common in the industry, improved and extended them. Now, in our portfolio, we have a new-generation solution developed to ensure a solid, completely customisable product that keeps bettors satisfied and positively affects bookmaker outcomes.

Content is also a consideration. For example, different widgets and video streams with minimal delays that we supply to our clients keep users updated. This is especially important if a bettor prefers Fast Markets over classic ones since they give comparatively immediate results and change every 3-5 minutes, depending on the discipline. All these advancements will not be that significant without markets that meet the interests of bettors. That is the reason we developed the “Player Props” feature with an opportunity to try to predict total death, kills and even choices of a particular player.

Licensed content from trusted sources drives all these features since it empowers data feeds, shaping a reliable betting line. Along with other tools available, Data.Bet’s experts use fast raw data sources to minimise bet latency and generate new offerings.

What are some of the key market trends you have noticed in esports betting over the last few years?

The main esports betting trends remain creating more content and personalising it. Providers try to develop new disciplines,

diverse markets and tech advancements, particularly using AI models. Searching for new, groundbreaking content sources to attract a bigger audience, industry representatives have also started to invest effort in the growth of mobile disciplines. These all are to showcase the potential of esports and prove that, with the right expert approach, the industry, being versatile and relatively young, still has a lot to offer for engagement and a lot to give in monetary value.

How do you expect your products to evolve within the changing marketwhat can we expect from Data.Bet in 2024?

We’re always working on our existing products, but in the last six months, we have already launched several new features, such as Fast Markets and live video streams mentioned before. We are working on creating even more offerings that will enhance the platform’s experience for end users and increase turnover. Very soon, we plan to provide our clients with another novelty, Bet Builder, which will help users dive deeper into betting, increasing engagement.

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A very dynamic industry

Gambling Insider speaks to Comtrade Gaming Chief Commercial Officer Steven Valentine about the latest developments for the company, crash games and more

Tell us about some of the most recent developments for Comtrade Gaming?

Our most recent and most exciting development is the launch of our content division, CG Games. We have been involved with building games for many years, typically helping other companies with their technology, and we have sold our RGS to many leading game vendors. This will be the first time we have built games for ourselves, and we will have 10 games ready to be launched and we will be live with our first operator in May.

The games are very high quality, and we will offer a mix of both slot and crash games. We are particularly pleased with our “Crash Soccer” game that will be live with selected operators just in time for the European Championship in football.

Which markets are of particular interest to Comtrade at the moment?

As our iGaming platform is aimed at large established operators, we are always driven by working with the right kind of operator rather than a specific market. There is a real need for our very bespoke platform offering, and working with market leaders or operators who want to take their business to the next level means they will work in any market if they see a good synergy with the client.

Having said that, though, it is very hard to ignore LatAm, and especially Brazil; we believe that market in particular needs a very strong PAM partner and we can provide that reliability and dependability that is currently lacking for most operators in the region.

Crash games are growing in popularity and are the main theme of this issue. Can you talk to us about Comtrade’s crash game offerings?

Crash games have done exceptionally well and currently there seems no end to their longevity. We are coming to the market with two crash games, as mentioned “Crash Soccer” being our lead game but we will also be launching “Space Aviator.” For

"Crash games seem like an overnight success, but they have been around for five years"

the soccer game we will offer a customised version to a select few operators, and we see this as real USP for them. It lends itself to being branded very well and offers something very new but in the familiar crash concept.

What role does AI play at Comtrade Gaming?

AI is already playing a huge role in our uptime capabilities, ensuring that our operators suffer no downtime. We have extremely strict SLAs and ensure that our platform is running smoothly 24/7, and AI helps predict issues before they arise. The next step for us in AI will be the ability to streamline bonus campaigns and loyalty schemes. AI won’t change what operators do from a marketing POV, but it will help with how quickly they can configure campaigns.

What trends do you envision will define the iGaming industry over the next few months?

Trends in iGaming can’t be measured in months. We are a very dynamic industry in many respects, but products and markets typically evolve over many years. Crash games seem like an overnight success, but they have been around for five years. Regulation will always have a big effect; the potential slot games ban in the Netherlands could be disastrous for some and seems like a huge step backward for regulated operators.

Romania seems to be tightening up on unregulated operations and pushing that responsibility onto platform vendors. The vendors that support both regulated and .com for that market, there no doubt will be some tough choices ahead. New markets, tighter regulation and M&A activity in both the vendor and operator space;so in short, the trend will be more of the same…

70 GAMBLINGINSIDER.COM INSIDERS STEVEN VALENTINE

Online poker: The state of play

Alex Scott, WPT Global President, and recent guest on the Huddle, looks into the evolving landscape of online poker, specifically focusing on the burgeoning trend of private poker apps, grey markets and the distinction between poker and other types of online gambling verticals like slots and bingo

THE DIFFERENCES BETWEEN POKER AND SLOTS

You press a button to make a wager. Seconds later, the outcome is revealed. The part in between is what differentiates good slots from bad ones – it’s the entertainment.

It’s an incredibly simple model, and I’m continually impressed by the innovative new forms of entertainment between the wager and the outcome – jackpot rounds, megaways, crash games. In theory anything could work, but the most entertaining slots trigger the primal parts of your brain, stimulate a rush of adrenaline and dopamine, an intense feeling of excitement and arousal.

Poker has very little in common with this and yet the CEOs of big publicly traded gambling companies persist in treating poker like any other gambling game. It’s why they’ve failed – and why the poker market is again dominated by private companies run by poker players and, alas, by a worrying number of black-market operators.

SKILL AND COMMUNITY IN POKER

In poker, the thrill of a big win or loss is just part of the overall entertainment proposition. Yes, thrilling moments do happen – particularly in the key stages of major tournaments, but they aren’t as frequent as they are in slots. In poker, the gambling part is not the most important thing – and testament to this is the fact that people frequently play poker without gambling anything; the game is as much a pastime as any other across the world, and is completely unique by the mechanisms that drive the game.

Poker makes up for this slower pace by combining other forms of entertainment with gambling in a really powerful way. Unlike slots, which are mostly solitary, poker is always played against other people. Poker is a great way to socialise – whether it’s a group of friends playing

a home game, colleagues team building together, or as a way to get out and meet new people.

Playing poker offers you the opportunity to become part of a community of like-minded people. It’s not a team sport, but it bonds you to others in the same way as other competitive individual activities do (such as martial arts or chess). Being part of a community of likeminded people also helps you to learn and improve – and that’s the other part of what makes poker special.

The power of progress is real. Seeing yourself improve at a competitive endeavour is enormously rewarding, and triggers many of the same parts of the brain’s reward centre that gambling itself does. A typical game of poker is determined mostly by the decisions made by players – and learning to make better decisions means that you’re more likely to win.

A poker player working to improve at the game is experiencing a powerful feedback loop of positive, dopamine-triggering rewards –they’re making new friends, seeing tangible progress as they learn more, and winning more often as a result.

This is why when marketing poker we focus on these things so much. We send players on trips of a lifetime with their new friends, where they can challenge their skills against high-level opponents. It’s why poker players are so much more valuable (on average) than a player who plays only casino, bingo or sports. The poker feedback loop results in much greater longevity, without the same risk of harm. Although a poker player might, on any given day, generate only $20 or $30 in revenue, that player will stick around for years if you serve them well.

THE STATE OF POKER TODAY

The same factors that make poker difficult for casino executives to understand also makes it difficult for regulators to

understand. In the last 10 years, poorly crafted regulation has seriously harmed the legal online poker market, leading to a rise in unregulated apps posing as play-money platforms but facilitating real-money play. These underground apps exploit the community aspect of poker by building poker ‘clubs’ where players can gamble under the guise of virtual currency exchanges.

Fighting back against these apps is no easy task. Although WPT Global is doing it every day (and so far, with real success), this is not something we can do on our own. I write this article in the hope that it will encourage you to think about poker in a different way. Will you join us in this battle?

71 GAMBLINGINSIDER.COM INSIDERS ALEX SCOTT

WHAT’S NEW ON THE MARKET?

Gambling Insider takes a close look at some of the exciting new products that are now available on both the retail and digital casino floors

REVIEW: AARDVARK TECHNOLOGIES’ GLOBAL NUMBERS IFRAME

We are excited to introduce Aardvark Technologies’ new product, the Global Numbers iframe. Launching in Q3 2024, this cutting-edge fixed-odds betting solution is set to transform online lottery betting. Designed with bookmakers in mind, it offers unmatched features and customisation options that cater to the needs of modern betting platforms. The Global Numbers iframe is userfriendly and intuitive, making it easy for both newcomers and seasoned bettors to place bets quickly. It supports multi-pick options,

allowing players to bet on multiple draws in one go. Moreover, operators can customise banners within the product to promote their brand and special offers effectively. Our product stands out by offering a variety of betting markets, from classic number picks to unique bet types like color markets and Powerball combinations. These features integrate seamlessly with bookmakers’ bonus engines, offering the chance to win big jackpots. Players can enjoy a dynamic betting experience with options to wager on specific number combinations or explore new bet types that include bonus balls or jackpots.

The Global Numbers iframe ensures a seamless experience by providing instant results from major lotteries as soon as draws conclude. It also includes features like re-bet, forecasts for the next ten draws, and access to historical results from the last five draws. These tools enhance players’ betting strategies and overall enjoyment. Aardvark Technologies’ Global Numbers iframe product marks a significant advancement in lottery betting. It offers a diverse range of options that are easy to use and customise, setting a new standard in the industry. Be among the first to offer this innovative solution to your customers.

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REVIEW: LIGHT & WONDER’S DRAGON TRAIN

General information:

Launched in 2023, Dragon Train became the fastest-selling L&W game in the Australian market, setting the stage for its EMEA launch. Dragon Train offers a range of innovative features, including the Hold-and-Spin feature, new Sticky Reels and the Orb Cluster game feature.

Dragon Train features:

• Feature 1:

Hold & Spin within a Hold & Spin (Dragon Train feature) - gives you the chance to win the new Fortune 8 jackpot and bigger prizes.

• Feature 2:

Orb Clusters and Nudging Wilds free games feature – gives the players new ways to trigger the hold-and-spin.

• Feature 3:

Sticky Reels free games feature – gives players the extra opportunities to enter the Hold & Spin feature.

What makes Dragon Train special? What goes well with Hold & Spin?..... More Hold & Spin! We’ve taken the players favourite game mechanic and combined it with... itself! We wanted to retrain all the good parts of that classic Hold & Spin experience but try and add depth in an exciting way. Plus, new, never seen before Free Games Features, engaging Orb Clusters and Instant Award Sticky Reels.

How many games are in the series?

4 games launching this year, with an additional 2 next year:

• Khutulun Battle Princess

• Forever Emperor

• Chi Lin Wins

• Sun Shots

Light & Wonder executives quotes: Jon Lancaster, Vice President of Sales at Light & Wonder: “The excitement and anticipation around Dragon Train in EMEA is at fever pitch! Both the Light & Wonder teams and our EMEA customers have been tracking the outstanding performance in Australia and the US, and we cannot wait to get products on the floors in our region”.

Marco Bettio, Senior Director of Product Management at Light & Wonder. “Finally, casinos in EMEA can ride aboard the train! Players will love the new orb cluster and sticky reels features which increase their chances to trigger the Hold & Spin. During the bonus, they will chase the Dragon Train symbol, knowing that big prizes will be won, increasing their excitement.”

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REVIEW: INTERBLOCK GAMING

REEL ROULETTE

Introducing Reel Roulette: a game-changer in the world of casino gaming. Developed by Interblock, this luxury gaming product redefines the roulette experience with groundbreaking technology that guarantees unparalleled excitement. Blending the classic appeal of traditional roulette with the electrifying potential of slot-like payouts, Reel Roulette takes players on an exhilarating journey like never before.

At the heart of Reel Roulette is its revolutionary straight-up payouts of 40X, setting a new standard in the industry. But the thrill doesn’t stop there. With the possibility of multipliers

reaching up to 1,000X, every spin of the wheel promises an adrenaline rush like no other.

Powered by Interblock’s patented balllaunching technology, Reel Roulette delivers a visually stunning and unpredictable gameplay experience. The choice between a white or gold ball determines the payout scale, adding an extra layer of suspense and excitement with each spin.

In the Main Game, the white ball offers a base pay of 30-1, with multipliers ranging from 40X to 200X. With the potential for 2-4 multipliers per spin, players are constantly on the edge of their seats, eagerly anticipating big wins.

However, it’s the Feature Game where Reel Roulette truly shines. Here, the gold ball takes centre stage, boosting the base pay to an unprecedented 40X. Multipliers can soar to heights of 40X to 200X, with the added thrill of 500X to 1,000X multipliers. With 4-5 multipliers per spin, the stakes are raised to new heights, offering an unmatched level of excitement.

Immersive sounds and animations further enhance the Reel Roulette experience, building anticipation and excitement with each spin. The result is a luxurious and dynamic gaming experience that is as engaging as it is rewarding, solidifying Reel Roulette’s position as a leader in the world of casino gaming.

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74 GAMBLINGINSIDER.COM

ALL IN ONE PLACE.

ALL OF GAMBLING INSIDER...

MONEY TRAIN 4: BOUNTY HUNTING ON THE DESERT TRAIL

Behold the winner of Online Slot of the Year category at the Global Gaming Awards EMEA 2024: Money Train 4

The latest installation of the hugely popular Money Train series from Relax Gaming has hit a home run at the gaming industry’s most prestigious Awards ceremony – and for good reason. The ultimate version incorporates retro futuristic desert, steampunk visuals with an enhanced interface that will have you nonchalantly playing slots as you roll down the fury road. Aside from the ambience, all the beloved elements that captivated players from the original (such as the hugely popular bonus game) are either maintained or simply refined, making for a refreshingly captivating virtual slot experience.

Something new, though, with Money Train 4 is that you can now bag yourself winnings of

up to 150x the original bet. Now, I know that’s a lot to chew on. So, for those of you who don’t know – I’m going to take it back to the basics.

One thing you’ll notice about Money Train 4 as soon as you lay your eyes on it is that it’s absolutely bursting with life. With high-quality graphics, a captivating and super responsive interface, and music that fits the dystopian theme, Relax Gaming has officially achieved iGaming feng-shui bingo!

However, it’s not the visuals alone that earned Money Train 4 its success. Players love it for its massive winning potential. It’s also perfect for beginners and more experienced players alike. Your bet size is also easily adjustable and ranges from a minimum of $0.10 to a maximum of $6 per spin.

Relax Gaming’s Money Train 4 is a video slot game with 6 rows, 6 reels and winning requires that you land at least 8 of the same

symbols, anywhere across the reels. As I mentioned before, it features a bonus buy opportunity which is broken down into two options. The first is the original feature (100X), in which you activate the bonus game normally with no guarantee of starting with a persistent symbol. Alternatively, you can activate the persistent feature (500X) where you are guaranteed a persistent symbol from the outset.

There is also a new money cart bonus round feature, which automatically initiates if you land three scatter symbols or more. Subsequently you will receive three respins, and they reset every time you land a symbol – so this can really help your game last. What’s more, the respin feature can be activated at the end of every spin.

We all know first impressions matter – but final ones matter too. Money Train 4 covers both bases.

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BIG SPIN HOME RUN FOR TREASURE ISLAND

Everybody’s favourite online big wheel (or so it seems), won Pragmatic Play Product Launch of the Year at the 2024 EMEA Global Gaming Awards in London Pragmatic Play this year won Product Launch of the Year at the Global Gaming Awards EMEA in London, for its Treasure Island game. Treasure Island is a live entertainment, big wheel-themed game show, in which players can expect to achieve persistent small wins, until the bonus round, where things get a bit more interesting. The wheel itself is a 54-segment big spinner, containing instant wins and six bonus rounds. Two of the features on the wheel are instant payouts, making for very interesting betting from the very start.

Intriguing and progressive throughout each round, Treasure Island introduces new characters as you play. The multipliers shift from round to round and range between 1X and 50X, again offering a chance of winning right from

that first spin. Oh, and in the bonus round the maximum multiplier is 15,450X – no big deal – but a big win... maybe!

So how does the game work? At the heart of it all is the 54-segment big wheel, with six bonus rounds and three different types of gems, and with possible gem combinations, too. The RTP (return to player) is high, with the average falling around 96% spread across all game sections. The wheel is spun by the presenter, and there are 12 seconds of betting time between each spin.

When the wheel stops on a bonus round, players with active bets participate while others watch. When the wheel stops on a gem segment, if you have placed a winning bet, your payout is indicated on the grid. However, landing on a gem segment doesn’t guarantee you a fixed multiplier payout, they are selected when the betting window has closed. The highest multiple is 50X and is only available on the ruby gems. Some segments also contain multiple gems; when the wheel lands here, both gems will win. As character’s become

introduced, so do different sections of the game. Long John Silver’s loot operates with no need for participation from the player and is a bingo ball machine which will draw up different gems. The Wild Scavenger and Great Scavenger bonus rounds adds the gem values from a wheel segment or from each mini slot and allows for instant wins.

Meanwhile, there is the Billy Bones map section, in which players must observe the map and select five tiles to try and find the hidden keys. then there is the Ben’s Lost Marbles round, which utilises a dice roll, and finally Captain Flint’s treasure wherein players must navigate down a path through six levels of barrels while avoiding skulls.

Overall, there’s a lot going on with Treasure Island; indeed, there is quite a lot to keep your eye on. The visuals are great, the layout is captivating and intuitive, and the interaction with the different characters allows for a refreshingly entertaining betting experience.

77 GAMBLINGINSIDER.COM PRODUCT REVIEWS FE ATURES

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FINAL WORD

Regular contributor Gustaf Hoffstedt, Secretary General of BOS, returns. Balancing the bet – the case for recognising the positive side of gambling, he writes…

“Ingratitude is the world’s wage,” a familiar expression in my part of the world influenced by Scandinavian modesty and the “Law of Jante,” reflects an aversion against overt displays of ambition or self-promotion to avoid the risk of failure. While this mindset has its merits, it’s also an obvious impediment to actions and innovations crucial for societal progress. Ingvar Kamprad, the visionary behind Ikea, wisely noted: “Making mistakes is the privilege of the driven. Only those who sleep make no mistakes.”

These words resonate well in the context of the recent industry seminar organised by the Swedish Gambling Authority. Firstly, credit is due to the Gambling Authority for embracing its role as an impartial knowledge hub for the gambling industry. However, a critical aspect warrants discussion and introspection.

This year’s seminar, held in March, welcomed attendees physically in Stockholm or virtually. The fact that only a fraction of the world’s population understands Swedish was addressed by offering simultaneous English translation, while lunch dishes and pastries were served with careful consideration given to various dietary restrictions. No one needed to feel excluded.

Nevertheless, the content and focus of the discussions unveiled a glaring gap in the commendable efforts toward inclusivity –the absence of any positive contributions by the gambling industry. The Minister for Financial Markets set the tone for the day by addressing the risks associated with

gambling on credit. Then, in her keynote address, the Deputy CEO of the Gambling Commission discussed record fines imposed on major gambling companies in the UK, before highlighting the Commission’s proactive stance on banning the popular feature autoplay.

Next, representatives of the Swedish Gambling Authority shed light on how minors fall victim to gambling through deceptive practices like skin betting, before the Authority’s chief legal counsel elaborated on successful efforts in upholding fines against licensed gambling companies. The day culminated in a panel discussion on issues like match-fixing and other sports-related crimes.

Do you see a pattern? If not, consider an analogy with a hypothetical seminar for the aviation industry, organized by the Swedish Civil Aviation Administration.

The day starts with a comprehensive review of global airplane crashes from the previous year. For the keynote address, a distinguished guest, the high representative from the Maldives Civil Aviation Authority, presents a compelling case for a universal ban on air travel due to escalating climate concerns. Next, a detailed examination of mental health challenges among youth affected by climate anxiety is presented. A representative for the Administration then deliberates on potentially raising the age limit for air travel as a precautionary step. The day concludes with a workshop focused on strategies to reduce air travel through initiatives, including raised aviation taxes and other regulatory measures.

I think most people could agree that such a myopic narrative would fail to encapsulate the

industry’s multifaceted impact and innovations. Similarly, the gambling seminar predominantly spotlighted risks, regulatory actions and challenges, inadvertently sidelining the industry’s significant positive impacts.

For clarity’s sake: for a government agency to highlight the downsides of an industry that it polices is certainly not wrong. On the contrary, it’s a necessity for any serious regulatory authority. But just as I assume the Civil Aviation Administration addresses climate issues at its industry day, they’re also not beyond highlighting the positive aspects of the aviation industry.

Sweden’s gambling sector stands as a testament to both innovation and responsibility. Prominent Swedish entrepreneurs, including Anders Ström (Unibet), Pontus Lindwall (Betsson), Gustaf Hagman (LeoVegas) and Jens von Bahr (Evolution), have not only reshaped the landscape but also generated employment opportunities and contributed substantially to Sweden’s economy. This thriving industry, propelled by visionary leaders and ethical business practices, embodies a spectrum of achievements worth highlighting alongside regulatory challenges.

A balanced dialogue that also celebrates gambling successes, innovation and positive player experiences is important. And let’s not forget that gambling is fun. Stories abound of players relishing exhilarating wins and the sheer entertainment value of gambling, which deserve recognition alongside efforts promoting responsible gambling practices.

82 GAMBLINGINSIDER.COM

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