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Lee Willows: ‘We should be humbled that addiction levels are coming down: do we really think that big state programmes, funded by a statutory levy and controlled by the NHS could do any better?’
Lee Willows, the long-standing lived-experience leader who came into the gambling space following an addiction that almost drove him to suicide, has warned that the UK risks losing its status as a world-class leader in Social Responsibility. Commenting after the Westminster Media Forum – Next steps for UK gambling regulation and Labour Party MP Carolyn Harris’s Westminster Hall debate on the statutory gambling levy, Willows said: “I firmly believe the UK is a global leader in Social Responsibility, but I worry that flame might be dimming as the funding debate becomes more about a desire to break-up the very eco-system that supported me and today supports many others. It is this Third Sector-led eco-system that to my mind, makes us world-class.”
Addressing the nature of the debate he questioned: “Why have we allowed it to come down to narrow choices between the NHS or the Third Sector to deliver a national programme of treatment – why can’t both co-exist? I have often said we need a choir of voices and organisations in this space. Why is it so difficult for start-up organisations – often led by individuals with Lived Experience – to access funding? Why is the funding debate consistently tarnished by some who feel there is a lack of independence as opposed to recognising the impact of that funding, which in my experience is completely independent. Finally, why are we not humbled that addiction levels are coming down and education and awareness is now at an all-time high, being led by superb charities in a considered, well-thought and evidenced manner?
“These divisions and the potential introduction of a statutory levy carry significant risks to my mind and in many ways undermines a lot of the good work that’s been undertaken. We have built an eco-system to deliver treatment, support and prevention that has impressive reach across the United Kingdom. This didn’t happen overnight, it took time, and a huge collective effort on behalf of many very decent people. A statutory levy risks being seen by operators as another tax and as a result dilute their level of involvement in reducing harms.
“Whilst there is much more to be achieved, we should be humbled by this progress. Do we really think that big state (NHS only) programmes, funded by a statutory levy can do any better? Will big state programmes enable agility and innovation? Will big state programmes deliver better value for money? Will big state programmes really provide the funding for very local services or take a risk on start-up organisations or ideas, particularly from those with Lived-Experience, often starting out as sole-traders? Will big state, one size fits all programmes, be able to deal with the complexities around gambling addictions?
“Several years ago, I led the work of a national reducing re-offending charity at the time when the Probation Services were being privatised. A slightly different scenario, but a similar outcome in that the PLC companies and the state won many of the contracts, forcing many charities to close. Wind the clock forward and re-offending rates today remain broadly where they were prior to privatisation. The tragedy is that re-offending rates were beginning to drop, prior to privatisation. Beneficiaries of services often would say that they had a personal connection with the staff member supporting them from charities, whereas they were more like a number when being supported by the larger companies. It has also been proven consistently that charity-run services almost always deliver better value for money.”
“It will not surprise you that I do not support a statutory levy. There is much comfort to take from the current eco-system and the many charities and non-profit organisations working hard in this space and it would be a big mistake to risk this. Additionally, I believe our prime commissioner of services in this space might want to ask themselves what they can do better to support start-up organisations and foster agility, spending their income in a timely manner, with a percentage aimed at small start-up organisations. I also believe they might consider their ballooning establishment chart, which for many seems excessive.”
Looking to the short/medium-term Lee Willows has identified an action plan in order to facilitate innovation, encourage agility and maintain the UK’s world-class status. He explained: “Firstly the new strategy to reduce gambling-harms should be fully costed (so we actually know how much funding we need as opposed to a blanket 1%); secondly some mandated guidance should be given to operators when making donations, based on percentages for treatment, prevention and research; finally larger businesses should in my opinion, be mandated to commit 50 percent of their LCCP RET donations to fund three-year funding commitments in order to ensure sustainability. Operators need certainty, so they can budget donations; charities and non-profit organisations need certainly so they can plan services”.
“The notion of a Gambling Commission held RET list is something I continue to support, but I would also question if it is appropriate that the Gambling Commission administer Regulatory Settlements. Perhaps having another body or organisation to oversee these would bring about some of the reflections I am proposing, particularly where prevention is concerned. This would enable the Commission to focus on its regulatory responsibilities.”
Since the beginning of 2024, content aggregator and solution provider Slotegrator has been analyzing case studies and conducting careful research. Why did the company choose this development path? What results have been achieved, and what can be expected in the future? It’s time to take a look at how 2024 is going — and maybe get a sneak peek at 2025.
Since the beginning of the year, Slotegrator has continued to actively present its new and updated solutions, like the company’s turnkey online casino platform and its key modules, including the KYC, BI, and Casino Builder modules, alongside many others. These modules are strategically designed to streamline online casino management, covering tasks like analyzing big data, assessing risks, and enhancing platform performance.
The modules have proven to be very effective, partially because they satisfy clients’ concrete needs. The primary sources of inspiration for these cutting-edge innovations are the company’s internal research and case studies of successful clients.
According to Slotegrator’s internal research, clients reported that the integration of these updates came at just the right time. Customers particularly valued the revamped player segmentation module, offering customization options and personalized marketing options, and a renewed anti-fraud module that utilizes a color-coded risk scale that allows operators to set risk levels.
“This feedback from our customers is a great foundation for Slotegrator’s future report on future iGaming trends in 2025. We’re constantly collecting and updating information on new technologies, game types, payment methods and player behavior, and honest feedback on the new features of upgrades helps us understand the direction of our future development,” comments Yana Khaidukova, managing director at Slotegrator.
Innovation is key to keeping up with the fast-paced iGaming industry. In 2024, the Slotegrator team is focused on enhancing product quality and publishing insightful case studies to better demonstrate the capabilities of its products. So far, Slotegrator has published multiple case studies analyzing its clients’ success. Here are the two latest examples:
- BetSloty’s global expansion strategy in the online gambling industry.
- Alanbase’s experience optimizing affiliate marketing.
When it comes to modern iGaming trends, many of them haven’t changed — we should expect to see more VR integration in esports, AI, blockchain, and cryptocurrency adoption. Also, mobile-first gameplay will be a new standard. The Slotegrator team has also noted an increasing emphasis on responsible gaming throughout the iGaming industry. Slotegrator keeps all of these in mind when entering attractive markets with new partners — especially those in Latin America and Asia.
What about licenses? Slotegrator recommends keeping up to date with licensing conditions. Among the most promising jurisdictions are:
- Kahnawake
- The Isle of Man.
- Anjouan
Faruk Aydin, Chief Revenue Officer of Revpanda, a Slotegrator’s media partner, adds to the list of trends some points about promotion on the iGaming industry: “Within the first half of 2024, we’ve seen that human-written content has made a great comeback, thanks to Google’s recent core update. It has started to remove AI-written shallow content across the entire SERPs, and the SEO community expects this trend to continue. Overall, we can say that the first half of the year strongly demonstrates Google’s effort to fill the SERPs with high-quality, engaging, local, and relevant content, avoiding fluff and providing the most useful resources to people.”
William Sarto, PR & Marketing specialist at CasinoRIX or CasinoRIX team, comments:
“In recent months, Google has undergone several significant changes due to a major update that started in March and ended in April. Then, at the beginning of May, they launched another big update. We’ve already seen many affiliate sites affected by this, particularly those that overused AI-generated content. AI has become mainstream, so it’s important to integrate it into processes based on thorough market analysis and real statistical data.
Moreover, there’s a clear trend towards creating projects that offer additional value for players and partners. It’s crucial to build a brand, not just a network of sites, and to add values into what you create while striving to meet customer needs. We fully agree with the earlier comments that in-depth analysis and staying in tune with trends will lead to success and growth. As we can see, all major and well-known projects are steadily growing with these updates.”
The post Slotegrator’s review of the first half of 2024 in iGaming: results & trends appeared first on European Gaming Industry News.
By: Evgeniy Babitsyn, Chief Marketing Officer, Bets.io
The sport industry finds itself amidst its own digital transformation journey with the introduction of new technologies, and at the forefront of this digital shift are NFTs – otherwise known as Non-Fungible Tokens.
NFTs can represent any kind of digital item, and in recent years have commonly been used for quirky collectibles and art work – but they now enter the sports arena in a unique way. The beauty of NFTs is the unique metadata and ownership information which is tracked via blockchain, making them a one-of-a-kind digital collectible that cannot be duplicated. As a result of their collectible nature, it’s only natural that NFTs caught the eyes of eager sports enthusiasts and die-hard fans.
In fact, according to Deloitte research, around 40% of Gen Z and millennial sports fans are at least somewhat familiar with the use of NFTs and fan tokens in sports.
But why is that? And how can they boost engagement?
NFTs are rapidly emerging as a powerful tool for sports brands in driving deeper fan engagement and unlocking new revenue streams. This is because sports fans are, by nature, competitive and eager to own exclusive content from their much loved players, teams and brands. They want to be part of the action.
By playing on this feeling, and reinforcing loyalty among fans in this way, sports brands have a huge opportunity to take their revenue streams to new heights and gain a competitive advantage over other brands.
Imagine an athlete releases a limited-edition NFT that represents the most iconic moment in their career, such as the winning shot or a record breaking performance. Fans who own that NFT can then access exclusive content related to that moment including behind-the-scenes footage or interviews.
There really is no limit to these tokens, and depending on the asset, they can be much sought after. As more and more sports fans embrace the digital tokens, sports brands are quickly learning that there is huge potential for fan engagement, if they continue to innovate with this technology.
Taking collectibles to the 21st Century
Sports memorabilia and collectibles have for centuries been a way for fans to feel more connected to their favourite teams and athletes. And now thanks to the advances of technology – more specifically, blockchain technology – fans can collect within the digital realm, gaining access to truly “own” unique digital items and experiences.
Beyond just digital art or collectibles, NFTs can also integrate the idea of gamification, exclusive content and experiences into their NFTs – allowing fans to engage more actively while unlocking new revenue opportunities.
The possibilities are endless, extending far beyond just digital collectibles. They can provide fans with access to exclusive digital or in-person experiences, events and merch as well. Think front row seats or the chance for a meet and greet post-game.
With this, NFTs provide an excellent way for brands to diversify their revenue streams by monetising their content and intellectual property strategically.
It really is win-win, fans can own a piece of their favourite team’s history while supporting their team financially. And sports brands can benefit from more loyal fans.
Transforming the fan experience
Engagement is everything to sports brands. After all, the fans are really the most important stakeholders in the end. And offering NFTs can be a powerful tool in fostering deeper engagement within fan communities. NFTs provide more innovative ways for fans to connect, prove their loyalty and gain recognition for their allegiance.
Let’s look at NBA Top Shot. NBA Top Shot is the perfect example of a blockchain-based platform that allows fans to own and collect officially licensed NBA collectibles digitally. The platform offers exclusive collectibles including videos of the biggest NBA moments and highlights.
And football teams are also following suit. Manchester City, PSG, FC Barcelona have all joined in on the NFT hype – offering their own NFT collections for keen supporters such as worn jerseys, trophies and more.
Sports Betting and NFTs
And when it comes to sports betting, NFTs take the iGaming experience to the next level. Fans can purchase NFTs that represent specific bets, such as the winner of a particular game or the performance of a specific player. These NFTs can then be traded or sold, just like other NFTs, providing a new level of flexibility and excitement for betting.
The use of NFTs in the sports industry is still in its early stages, but has already shown great potential. We can expect more applications to come in the world of sports – including at Bets.io. Watch this space.
Looking ahead, the future is incredibly promising for sports brands who leverage NFTs within their business operations. Those who embrace these new powerful ways to inspire fans and forge deeper relationships with their communities, will see their efforts translate into business value.
The post NFTs and the future of fan engagement: How NFTs can boost engagement with sports brands appeared first on European Gaming Industry News.
Raketech has announced its Q1 2024 financial results.
Q1 2024 Financial Highlights
- Revenues in Q1 of 2024 totaled EUR 19.0 million (EUR 15.8 million), reflecting an organic growth increase of 20.1% (24.4%), driven by continued strong performance from sub-affiliation partially offset by weaker-than-expected results within affiliation marketing.
- EBITDA, adjusted for restructuring costs, was EUR 5.1 million (EUR 6.1 million), impacted by a weaker performance in Sweden compared to the previous year and soft performance of the Casumba assets following the Google Core update during the quarter. Other regions and products performed well, with sub-affiliation delivering a strong quarter in terms of EBITDA contribution.
- Operating profit, adjusted for costs related to re-structuring, amounted to EUR 2.0 million (EUR 3.8 million).
- Free cash flow before earnouts increased to EUR 6.5 million (EUR 5.6 million) with a positive working capital development from trade receivables.
- Earnouts settled during the quarter amounted to EUR 13.0 million.
Full-Year Outlook
Current trading, including April, implies an adjusted EBITDA of around EUR 20.0 million for the full year. Free cash flow before earnouts for the full year is estimated to come in just below adjusted EBITDA.
Subsequent Events After the End of the Period
On May 14, 2024, the board decided to withdraw its previously announced proposal to distribute dividends in 2024, in line with its commitment to maintaining financial flexibility and supporting the company’s long term growth ambitions. The primary focus is delivering value to shareholders and continuing to evaluate opportunities to enhance shareholder returns in a way that aligns with the Company’s long-term value-creation objectives.
Current Trading
Revenues in April 2024 amounted to EUR 5.9 million (EUR 5.9 million).
Raketech Acting CEO Johan Svensson said: “In the first quarter of 2024, we delivered EUR 19.0 million in revenues, representing an organic increase of 20.1%, primarily driven by Sub-affiliation. Adjusted EBITDA came in at EUR 5.1 million, while EBITDA was EUR 4.3 million, consistent with our trading update published on 1 May. We remain confident in our market-leading product offerings and see promising growth opportunities through our strategic initiatives in sports offerings, exclusive partnerships, and media deals. These efforts will position us well for continued growth in the coming years, and we remain committed to maximizing shareholder value.”
The post Raketech Announces Q1 2024 Results appeared first on European Gaming Industry News.
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