Sweden Suffers Offshore Betting Growth Despite Regulation

Sweden has the same issues with online gambling operators that many other jurisdictions have, namely the international access to offshore web locations that the internet provides to gambling consumers. Sweden is re-regulating the online gambling industry with a liberalised approach offering licenses to operate in the country. License applications were opened up at the beginning of August with many operators already applying yet the Sweden’s gambling regulator Lotteriinspektionen says new figures indicate unlicensed gambling operators continue to make gains over those operating legally.

Lotteriinspektionen said licensed firms held 73% of the market, with Swedish companies’ SEK 8.2bn of trade down almost 2% while non-Swedish firms were up 12.5% to SEK 3.0bn.

Svenska Spel, the government gambling monopoly turnover was down by 1.3%.  Analyst for Lotteriinspektionen, Magnus Granlund said to iGaming Business, “The long-term trend continues with the regulated market losing ground to the operators without Swedish permit,” adding,  “This general trend is likely to continue for the next two quarters.

“Marketing is expected to increase in the lead up to January, which could imply even stronger growth in GGR, especially for the operators without Swedish permit.

“It also shows the importance of a re-regulation of the Swedish gambling market with a new gambling law and a license system coming into force. The massive advertising for operators without Swedish permits also affects the outcome.” Even though unlicensed operators continued to grow market share, Granlund maintains they may not be completely satisfied with the performance, “The operators without Swedish permit, who usually show double-digit growth numbers, came out a little bit weaker the second quarter 2018 than one could have expected considering the heavy marketing and events such as the World Cup - albeit some of the effect of this probably will be seen in the numbers for Q3.”  adding, “ATG has shown stable growth despite increased competition.”




 

Related news

New Research Reveals More About Problem Gambling

The time it takes to cure an addiction such as gambling is long and difficult mainly because like many things today it is pervasively available on the internet. Advertising of lottery and gambling applications is everywhere, on television on sports team kits in print and just about every other media outlet imaginable.

The reasoning behind gambling addiction has been studied for years by scholars looking for the solution to a growing problem affecting youth and the most vulnerable who dream of escaping the real world of bills and life’s hardships. A investment in gambling is cause for concern for those who cannot leave the slot machine or blackjack table while other people can have a good time playing and walk away satisfied. The losing player always feels slightly cheated and wants to win before the money all runs out but the addicted player spirals into the deep and continues to lose significant sums sometimes causing harm to family friends and self.  

In the USA alone people who wager lose a staggering $120bn (£917,880,000) every year and that number will increase with the new legislation in the USA allowing citizens to bet on sports. When gamblers engage in risky behavior research using neuroscience has revealed clues that precipitate the problem that addicted player’s experience. A John Hopkins University research team think they have found the region in the brain that has an important role in making those risky decisions. The research claims the area of the brain known as the supplementary eye field (SEF) which is important for the regulation of eye movements and is a key influence in making all types of decisions. Funding is being made available to organizations around the world to deal with this ever growing dilemma faced by governments coping with the advancements in the online gambling industry and its resulting problem gambling issues. Science is gradually unravelling the circuitry of risk and reward in the brain and may come up with more effective treatments and behavioral interventions.

 

 

Related news

AGA Reveals Amount Gambling Adds To US Economy

There is no doubt after a recent financial report by the American Gaming Association that people in the USA like to wager. The AGA released figures for the year 2017 recently that reveals that the gambling industry has contributed $261.4 billion in business sales to the economy of the country in 2017. This amount is an increase of 9.5%  from numbers shown in 2014.

Oxford Economics partnering with the AGA was instrumental in creating these calculations, the  $261.4 billion spend made $40.8 billion in federal, state and local taxes, including $10.7 billion of which were gambling taxes.

The report stated, “The $40.8 billion of tax revenues supported by the gaming [industry] represents an injection into public budgets that pays for a range of services including public safety, hospitals and schools. In fact, total tax revenues… generated by the gaming industry are enough to pay for the salaries of approximately 692,000 teachers,”

The AGA says the gambling industry supported 1.8 million jobs in 2017, an increase  from 1.7 million in 2014, which calculated provided $74 billion of labor income which  included wages, salaries, tips and other benefits. The organization maintains “The gaming industry supported more direct jobs than in other industries such as plastics manufacturing, or the motion picture and sound recording industry,”

Some of the statistics were put on the table with 1.8 million workers, 727,000 were directly employed in the gambling industry, these workers earned $33.3 billion.  Terrestrial casinos employed 361,000 people, who earned $17.4 billion. Native American casinos, employed 198,000, taking home $9.1 billion in income. Direct spending in the gambling industry came to a total of $109 billion dollars.

Twelve percent of the $89.4 billion in casino spending was spent on food, beverages, lodging and entertainment,

 

 

 

 

Related news

GVC Announces Launch Of 20 New Titles From CR Games

Choosing a casino or poker room can be a matter of liking the presentation or not but there is one part of the equation that stands out and that is content. Slot players for example want a certain entertainment quality and a selection of games that makes them want to go back to that particular casino.

GVC recently announced it has integrated a selection of new content developed by CR Games, the in-house software studio of the Ladbrokes Coral Group, into its casino product lineup. GVC’s new product portfolio will be 20 games added to the online gambling brands such as Party Casino and Sportingbet and bwin. The first hand full of five titles will be introduced this month including the CR Games popular title ‘Big Banker’ slot game. The plan is to launch the full suite in the regulated markets of Denmark Italy and Possibly New Jersey in the USA before the year’s end.

Kenneth Alexander, chief executive officer at GVC, commented,  “The acquisition of Ladbrokes Coral completed on March 28 and the integration of that business is progressing well. We have now identified capex synergies of at least £30m in addition to the £130m cost synergies and we are well placed to deliver those savings while driving top line growth.”

Alexander continued, “We are gaining market share in all our key markets and we will look to reinvest to further strengthen our market position.”

Liron Snir, the chief product officer at GVC, commented,  “This is an important milestone in the integration of GVC and Ladbrokes Coral and demonstrates the benefits to customers of bringing the businesses together. Snir continued, “At GVC, content is king and we believe building a unique gaming offer, which marries exclusive in-house developed games with the very best titles from third-parties, is a win-win for our players.”

 

 

 

Related news

Gambling Advertising Ban U.K. Political Football

It is not hard to understand why politicians are concerned about online gambling in many parts of the world with the proliferation of smartphones and the availability of internet everywhere. The political football that has been thrown around in the U.K. is a good example of the situation regarding laws pertaining to the issues surrounding online gambling and the potential harm it can cause especially to the younger demographic and those vulnerable.

Advertising for internet betting is saturating media and sports organizations and is overwhelming the political legislators that are having trouble keeping up with the rapid pace operators have established.

The new policy of UK’s Labour Party stipulates a total ban on betting advertisement on television and online during live sporting events.The published policy is also suggesting a major overhaul of current gambling laws.

The Labour deputy leader Tom Watson is advocating for a year-long review of problem gambling stating the “explosion” in online gambling was “unforeseen” by the Gambling Act in 2005 passed by the previous Labour government, which changed the gambling laws.

The report is adding a ban on sport advertising a prohibition on credit card wagering plus an extended tax on gambling operators consisting of one percent of revenues to be used to fund the treatment of wagering problems. Watson has said problem gambling was a “public health emergency.” Premier League football organizations will also be asked to stop all sponsorship arrangements with gambling operators under the threat such deals will be prohibited. It was estimated that there are as many as 25,000 young problem gamblers aged between 11 and 16 in the U.K.

The Labour party is facing  accusations of hypocrisy, as critics point to the negative effects of the 2005 Gambling Act passed by the Labour party. The Tory representative MP Chris Skidmore declared, “Labour liberalised the gambling market. Adding, “We are correcting their mistakes.”

 

 


 

Related news

CEEGC Sept 19 2018 Budapest Hungary

The countdown is on for those online gambling professionals that are looking for improvements to their businesses. Attending a conference is a valuable experience for even the seasoned veteran of the gambling industry. The Central and Eastern European Gaming Conference is the place to be for a concentrated amount of information about the gaming industry and valued knowledge. The beautiful city of Budapest Hungary will host the event on the 19th of September 2018. This is the third edition of the Central and Eastern European Gaming Conference and Awards

Last year the conference was a big hit with iGaming Sales Director at Mobiyo Rafal Nowak stating this about last year’s conference, “A week after the Budapest Gaming CEE conferences, I’m still discussing the topics brought up there with fellow delegates. Thank you Zoltan Tundik for organizing an informative and well shaped event on this, often underestimated iGaming territory and good luck with the next one!”

Also Nina Zafirovskathe  CEO at BtoBet also was pleased to endorse last year’s event,“CEEGC in Budapest was the event that brings together experts in the industry together with Central and Eastern European regulators to exchange thoughts and knowledge for development of iGaming in the region. Great experience with wonderful people.”

The Ritz-Carlton Budapest is an incredible venue for this outstanding conference and awards ceremony. The event agenda consists of  6 informative panel discussions that are focusing on the emerging markets in jurisdictions such as Slovakia, Poland, Romania, Bulgaria, Czech Republic and Belarus, plus a specialist in the US market. The topics will cover most areas of Europe with international events that serve the local and global industry. Optimization of networking opportunities and the most vital issues are brought into the spotlight.

Register now there are but a few days left before the Central and Eastern European Gaming Conference and Awards event happens and it should not be missed.

 

Related news

Casino Woodbine Expands With Live Dealer Games

The expansion of casinos in Canada is starting to be recognized by the gambling world with the addition of live casino games being introduced in Toronto Ontario’s Casino Woodbine. The growth of the casino which has been around for as many as 70 years has been slow but sure. Since 1950 the popular horse racing track developed into a casino offering slots in 1999 and then it received permits to open a casino in 2015.

Now the venue will offer live dealer games that will expand the customer base for the casino which will now be offering online gambling on the worldwide stage. Live dealer casino gambling is a recent addition to the world of online gambling because of the technological advancements in gambling software. Internet speeds are faster than ever and it allows for streaming of poker, roulette, and baccarat to other online casinos around the planet. Dealers are arranged in a streaming video studio with direct chat messaging with the players. Based algorithm

Watching a real live dealer do the shuffling and not just a machine based algorithm makes a great deal of difference for the experience of the gambler. Woodbine is one of three venues owned by One Toronto Gaming a partner of Great Canadian Gaming Corporation and Brookfield Business Partners L.P. both are on the Toronto stock exchange. One Toronto Gaming is offering  50 "live dealer" table games including blackjack, roulette and baccarat attracting larger online participation.  

OTG's CEO, Rod Baker commented to Newswire, “This is another important achievement for One Toronto Gaming, made possible by the hard work from our team in collaboration with stakeholders including OLG, our regulators, and the City of Toronto. This not only is a significant step in the expansion and overall development of Casino Woodbine, but this additional gaming amenity has generated over 400 new jobs, and will create another 300 by the end of 2018.”

 

Related news

LeoVegas Buys 51% of Esports Pixel Holding Group

E-Sports is the very latest online gambling trend that after a lengthy time in the shadows has finally gained the spotlight as one of the fastest growing sectors for betting on the internet. The enormous growth has been so extensive that it’s been estimated that the global market for esports betting will be valued at $30 billion by 2020.

Knowing the ins and outs of the esports wagering world is a rare thing with so many traditional online betting opportunities being offered. Learning about esports and betting on the teams and games involved may take some time but it is worth the effort.

Esports is basically playing video games and betting on the various aspects of the staged competitions. Competitive video gaming is now firmly established as a legitimate sport.

Now that it has become a betting product some online gambling enterprises are investing. LeoVegas group chief executive Gustaf Hagman recently announced that the company’s acquisition of a 51% stake in Pixel Holding Group will provide it with a “unique insight” into the “fast-growing” esports sector. The Pixel Holding Group which operates the Pixel.bet is a specialist esports betting operator and LeoVentures, which is operated by LeoVegas, has invested approximately €1.5m (£1.3m/$1.8m) in the firm.

Mr. Hagman a co-founder of LeoVegas Mobile Gaming Group, commented, “Esports is an international and fast-growing area that engages millions of viewers and players every month.”

Robin Ramm-Ericson, managing director of LeoVentures and another co-founder of LeoVegas Mobile Gaming Group, also commented, “With its strong technology and mobile-first gaming experience, Pixel.bet is a perfect match for the LeoVegas. Together we will drive development for the absolute premier experience in esports betting.”

Eirik Kristiansen, CEO of Pixel.bet, said, “We want to create value for enthusiasts and add something truly extra to our community. Pixel.bet is, for example, the first to offer log-in with mobile BankID and instant withdrawals.”

 

Related news

B.C.Casinos Money Laundering Query Conflict of Interest

Casinos are an ideal front for money laundering because it is normal for casinos to have large amounts of cash in small bills that is largely untraceable. The organized criminals are always looking for easy ways to launder cash and get away with it. Now the investigations concerning organized crime in British Columbia have been exploring the use of a B.C. casinos to launder money from suspected Asian sources.

An audit revealed that one casino River Rock Casino owned by Great Canadian Gaming Corporation claimed that $13.5 million dollars in $20 bills was taken in by the casino in the VIP gambling room. A probe was started and as a result a number of Canadian nationals  were arrested and a few people from China at the Vancouver National Airport who were detained for transporting millions in cash that is speculated to be from crime gangs. Since 2015 The British Columbian government has been trying to close some of the loop holes in the law and help casinos recognize the problem of money laundering and how to deal with it while being in compliance with the current regulations. There have been some outcry from critics who have revealed that two members of the investigation have links to gambling in the province, and one has ties to the casino that was the focus of the investigation. These two individuals have denied there is any conflict of interest with the current money laundering query.

Walter Soo was not interviewed about the high-limit gaming rooms and the problem with the excessive amounts of money running through the River Rock Casino by Peter German who was a board member of the Oval Corporation Board, which operates a sports complex in the area along with Walter Soo.

Dr. Peter German was appointed to build an independent review of the issues in the casinos by the B.C. Attorney General and Minister responsible for the BCLC. It remains to be seen how this will play out.

Related news

Innovative Slot Interface Ramping Up The Speed Six Times

The attention span for the digital age consumer is a much shorter duration than the old school term when it seemed like an eternity waiting for the slot game to complete the spin. Digital gambling consumers today get bored quickly when on the internet if the game doesn’t load fast enough or the payout takes too long.

Operators are always looking for methods to retain players and bring them back to their site. Speed has been a significant factor when customers choose an online casino web domain and speed is also a big issue for online betting operators from all over the world.

Internet connections are becoming lightning fast and operators want to be able to keep up with the latest technology and take advantage of the increased speed that players demand and are beginning to expect.

One firm is trying to accommodate the needs in the very competitive slot gambling sector with innovation taking a front row seat for many operators looking to stand out from the crowd. Hero Gaming has found a method that is achieving the lofty goal by launching a new slot based interface named Blitz. The new interface will let slot players play at six times the normal speed.

Hero Gaming headquartered in Malta owns online gambling sites Speedy Casino, Casino Heros and the internet sportsbook Betser and has now made the Blitz interface available to its players. The Blitz innovation gives slot fans a faster time with no need to wait after each spin for the results to appear.

The CEO of Hero Gaming, Tomas Backman, proudly announced,  “It’s great to have provided something that is genuinely new to the market from the operator side. Many operators talk about innovation, but to be honest very few deliver. I think everyone can agree that Blitz is innovative.”

Slot participants are able to quit play at any time while maintaining their account balance and the number of spins left.





 

Related news

Pages