Industry News
Operators considering Isle of Man switch after POGO tax hike
A significant tax hike for Philippine Offshore Gaming Operators (POGOs) could lead to an influx of companies looking to move to the Isle of Man, according to one industry expert.
Egaming companies in the Philippines are facing a more-than-double tax hike after new rules were signed into law.
POGOs – companies licensed by the Philippine Amusement and Gaming Corporation (PAGCOR) to provide offshore gaming services – will have to pay 5% tax on turnover, replacing the previous 2% gross revenue tax.
Failure to comply could result in companies losing their PAGCOR licences and it seems many companies are exploring other options.
Alex Gardner, director of Isle of Man-based Affinity Group, which supports egaming operators looking to set up in the Isle of Man, said the company had noticed an uptick in enquires.
She said: “The Philippines has historically been a jurisdiction chosen by Asian-facing operators but, following the recent negative press surrounding POGO and more recently the tax increase, we have seen an influx of enquiries from operators who are looking for a suitable licence to either continue or start targeting the Asian market.
“The Isle of Man is perfect for this having developed an international reputation as being a leader in the egaming industry and is already home to some of the biggest Asian facing operators in the world.
“As a company that has helped many start-ups and established companies through the Isle of Man Licence licensing process it is understandable that many operators are considering moving their operations from the Philippines.”
The bill in the Philippines has been signed into law by president Rodrigo Duterte as part of the Bayanihan to Recover as One Act, as the Philippines aims to close gaps in its Covid-19 relief fund.
All 60 licensees were forced to halt operations as part of the Covid-19 lockdown and the government has seemingly taken this opportunity to crack down on companies failing to meet tax obligations. Only 29 have since been granted permission to resume activities.
Filipino politician Franklin Drilon said: “The Bayanihan 2 will more than double the tax collection from POGO, from Php7 billion (US$144.5 million) estimated collection in 2019 to approximately Php17.5 billion (US$361.2 million) this year because of the reforms we have introduced in the measure.
“All revenues from POGO will be used to fund the various types of assistance laid out in the Bayanihan 2 for all sectors affected by the pandemic.”
PAGCOR and the Bureau of Internal Revenue (BIR) said in May that all POGOs and their service providers must fulfil certain prerequisites before being given the green light to resume activity, including settling any outstanding tax liabilities as certified by the BIR, updating payment of any regulatory fees, license fees, performance bonds or penalties owed to PAGCOR, and remittance of all regulatory fees.
Jennifer Shatley, a recognized expert in the field and a highly sought speaker and advisor, has joined the Responsible Online Gaming Association (ROGA) as Executive Director.
Shatley has had 25+ years worth of experience, working closely with the treatment community, academics, researchers, government bodies, state councils, and gaming industry representatives to promote responsible gaming.
“Many of America’s largest legal mobile gaming operators will be establishing a framework that helps to aid in responsible gaming education and awareness. By coming together with a clear set of objectives, ROGA and our members will work to enhance consumer protections and help provide easier and more efficient access to responsible gaming tools for consumers to enjoy the entertainment of online gaming,” Shatley said.
Industry News
Europe Sports Betting Market Size, Share & Trends Analysis Report 2024-2030 Featuring Bet365, William Hill, Betfair, Paddy Power, 888sport, Bwin, Unibet, Ladbrokes, MGM, and Betsson
The “Europe Sports Betting Market Size, Share & Trends Analysis Report by Type, Platform, Sports Type (Football, Basketball, Baseball, Horse Racing, Cricket, Hockey, Others), Country, and Segment Forecasts, 2024-2030” report has been added to ResearchAndMarkets.com’s offering.
The Europe sports betting market size is anticipated to reach USD 65.54 billion by 2030 and is expected to expand at a CAGR of 9.9% from 2024 to 2030
The globalization of sports and the integration of international leagues and tournaments into European betting markets have fueled the growth of sports betting. Major sporting events such as the FIFA World Cup, UEFA European Championship, Wimbledon, and the Olympics attract widespread attention and betting interest from European consumers, driving significant betting volumes and revenues for sports betting operators, thus driving the growth of the sports betting market in Europe.
The COVID-19 pandemic had a negative impact on the European sports betting market. The cancellation or postponement of sports events during the pandemic restrained the market growth. With major tournaments, leagues, and competitions either suspended or canceled outright, the absence of live sports events severely diminished consumer betting opportunities. It led to a significant decline in betting volumes and revenues for sports betting operators.
The presence of favorable betting policies in the region is driving the growth of the sports betting market in the region. Many European countries, such as the UK, Ireland, Denmark, and France, have progressive policies promoting a competitive and well-regulated betting market. It facilitates the entry of new operators into the market and encourages competition, leading to innovation, improved services, and better value for consumers.
Moreover, established responsible gambling initiatives and regulatory bodies in Europe, such as the European Gaming & Betting Association, help build trust and confidence among consumers by promoting responsible gambling practices, ensuring fairness and transparency in betting operations, and providing avenues for dispute resolution, to protect consumers and maintain the integrity of the betting market, thus driving the growth of sports betting market in the region.
Europe Sports Betting Market Report Highlights
- Based on the type of betting, the fixed odd wagering segment accounted for the highest revenue share of 27.7% in 2023 due to the stability and predictability of the payouts
- Based on platform, the online segment dominated the market in 2023 and is expected to grow at a significant CAGR from 2024 to 2030. It can be attributed to the collaborations between sports teams, leagues, and betting companies, thus increasing the visibility of sports betting and attracting a larger customer base.
- In terms of sports type, the football segment accounted for the largest revenue share in 2023. It can be attributed to the popularity of football in Europe due to popular football clubs like Real Madrid, Liverpool FC, FC Barcelona, and Manchester United.
- The UK held a significant share of 34.6% in 2023 and is expected to grow at a significant CAGR during the forecast period. Favorable gambling policies in the country drive the market’s growth.
Company Profiles
- Bet365
- Ali William Hill
- Betfair
- Paddy Power
- 888sport
- Bwin
- Unibet
- Ladbrokes
- MGM Resorts International
- Betsson
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 80 |
| Forecast Period | 2023 – 2030 |
| Estimated Market Value (USD) in 2023 | $33.75 Billion |
| Forecasted Market Value (USD) by 2030 | $65.54 Billion |
| Compound Annual Growth Rate | 9.9% |
| Regions Covered | Europe |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Europe Sports Betting Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Market Dynamics
3.2.1. Market driver analysis
3.2.1.1. Increasing number of sport events
3.2.1.2. Growing number of sporting events and leagues in Europe
3.2.2. Market restraint analysis
3.2.2.1. Lack of unified regulations
3.2.3. Market opportunity analysis
3.2.3.1. Growth in E-sports audience
3.3. Europe Sports Betting Market Analysis Tools
3.3.1. Industry Analysis – Porter’s
3.3.2. PESTEL Analysis
Chapter 4. Europe Sports Betting Market: Platform Estimates & Trend Analysis
4.1. Platform Market Share, 2023 & 2030
4.2. Segment Dashboard
4.3. Europe Sports Betting Market by Platform Outlook
4.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030
4.4.1. Offline
4.4.2. Online
Chapter 5. Europe Sports Betting Market: Type Estimates & Trend Analysis
5.1. Type Market Share, 2023 & 2030
5.2. Segment Dashboard
5.3. Europe Sports Betting Market by Type Outlook
5.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030
5.4.1. Fixed odds wagering
5.4.2. Exchange Betting
5.4.3. Live/In Play Betting
5.4.4. eSports Betting
5.4.5. Others
Chapter 6. Europe Sports Betting Market: Sports Type Estimates & Trend Analysis
6.1. Sports Type Market Share, 2023 & 2030
6.2. Segment Dashboard
6.3. Europe Sports Betting Market by Sports Type Outlook
6.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030
6.4.1. Football
6.4.2. Basketball
6.4.3. Baseball
6.4.4. Horse Racing
6.4.5. Cricket
6.4.6. Hockey
6.4.7. Others
Chapter 7. Europe Sports Betting Market: Regional Estimates & Trend Analysis
7.1. Regional Market Share Analysis, 2023 & 2030
7.2. Regional Market Dashboard
7.3. Regional Market Snapshot
7.4. Market Size, & Forecasts Trend Analysis, 2018 to 2030
7.4.1. UK
7.4.2. Germany
7.4.3. France
7.4.4. Italy
Chapter 8. Competitive Landscape
8.1. Recent Developments & Impact Analysis, By Key Market Participants
8.2. Company/Competition Categorization
8.3. Vendor Landscape
8.3.1. List of key distributors and channel partners
8.3.2. Key customers
8.4. Company Profiles
For more information about this report visit researchandmarkets.com
The post Europe Sports Betting Market Size, Share & Trends Analysis Report 2024-2030 Featuring Bet365, William Hill, Betfair, Paddy Power, 888sport, Bwin, Unibet, Ladbrokes, MGM, and Betsson appeared first on European Gaming Industry News.
Industry News
Leading online slot developer announces launch of Snoop’s High Rollers which will go live exclusively with popular crypto sportsbook and casino
Gaming Corps, a publicly listed game development company based in Sweden, has signed a major deal that will see it launch an exclusive slot game in collaboration with rap legend, Snoop Dogg. The game will drop exclusively on Roobet, the online casino where Snoop Dogg is a brand ambassador.
Snoop Dogg needs no introduction. He made his music industry debut when he appeared on Dr Dre’s 1992 album, The Chronic, and has since sold more than 50 million albums worldwide. He’s also made several movie and TV show appearances, making him one of the most iconic artists of all time.
The game is “Snoop’s High Rollers” and allows players to experience what it’s like to live life as a music legend. The soundtrack is inspired by Snoop’s early and later works and the main man has also narrated parts of the game to really bring it to life.
Snoop has also played a part in creating the gameplay, hand-picking mechanics and bonus features to really put his stamp on the game. Roobet has also got in on the action, leading to a unique online slot that will soar to the top of the charts among its players.
Snoop’s High Rollers will make its debut exclusively on Roobet, the crypto casino and sportsbook that has taken the market by storm since its launch in 2019. The casino’s team has put a comprehensive marketing strategy behind the game with plans to use it to drive new customer acquisition at scale.
“It is with much pride that we at Gaming Corps have had the chance to develop a game in close collaboration with Snoop Dogg and Roobet, where we have combined our unique gaming perspective with Snoop Dogg’s unparalleled style and charisma,” Juha Kauppinen, Gaming Corps CEO, said:-
“Our vision is to offer players an experience where music, culture and gaming merge into something extraordinary. Our close collaboration with Roobet has enabled us to do the impossible, namely world-class marketing, game release is planned for 20 of April. We’re thrilled, and discussions are already underway about several game concepts!”
Anthony Brennan, Head of Partnerships at Roobet, added: “Roobet loves pushing the envelope and never flinches at an opportunity to bring iGaming and pop culture together. Snoop loves his game, we love the game, and we’ve been delighted at the experience of building something that feels fresh in an industry full of remixes.
“We can’t say enough nice things about the Gaming Corps team, and we’re excited to hear what the gaming community has to say!”
The post Leading online slot developer announces launch of Snoop’s High Rollers which will go live exclusively with popular crypto sportsbook and casino appeared first on European Gaming Industry News.
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