Industry News
From strength to strength, Ivo Doroteia, CEO of Sportingtech, looks at the growing prominence of Portugal’s betting market
Ivo Doroteia, CEO of Sportingtech, looks at the growing prominence of Portugal’s betting market and the country’s prospects for becoming an established presence in Europe
The Portuguese market is one that has often operated in the shadow of its neighbor, Spain. With good reason: a much larger country, it possesses a player base that dwarfs Portugal’s and has always historically been further ahead in terms of regulating online gambling.
Prospects for a narrowing of the gap between the two came following the introduction of a regulated online framework in 2015, though optimism for positive change in Portugal was initially met with skepticism in equal measure. The naysayers were inevitably proved wrong; today, market growth is clear to see, with several high-profile operators performing well in the region, even in comparison to other, much larger European countries.
From my perspective, this was expected – Portugal’s land-based industry has always been robust, with bricks-and-mortar casinos consistently displaying good numbers for the likes of lottery and bingo, and the renaissance of sports betting is just another string to the market’s bow.
These past 18 months have seen a dramatic shift in fortunes for the Portuguese market – figures from Q4 2020 onwards show strong growth for gambling in the country, with sports betting leading the charge. The growth can be attributed to a number of factors, including Covid-induced lockdowns benefiting the shift from land-based to online and a changing of fiscal policies in 2020 removing the higher rates of tax for betting and gaming.
Whatever the cause, it is clear today that the presence of top-tier industry players now makes Portugal an extremely attractive proposition indeed, and no one is better positioned to take advantage of this fact than Sportingtech, with its extensive knowledge of the market and varied range of leading sports betting platforms.
Portugal is a country with sports at its heart, and now it has an effective means to bet on it. Questions have been raised about the long-term viability of this growth, some suggesting that a post-lockdown world will revert to type, with land-based betting once again taking precedent.
I disagree with this sentiment – the ingredients for sustained success are very much present in Portugal and I see no reason to suggest that this market will be anything other than a bastion for sports betting on the worldwide stage. The difficult battle, acquisition, has already been won – retention is now the market’s key directive. Sportingtech’s Quantum platform is expertly placed to assist in this – Quantum Power, for instance, is designed to improve and boost both player acquisition and retention and is a fully localized product, featuring open APIs for full integration and customization.
The sharp increase in numbers will level out in time, but this is to be expected. What the market must do to future-proof the progress it has made is provide stability with robust and scalable platforms. This, combined with high-quality content and good UI/UX, will provide a workable framework for a continuation of current trends. This would, in turn, attract even more tier-one operators who, once established with a tried-and-true platform like Quantum, could fuel the second wave of growth.
Online gambling in Portugal has now established itself, and emphatically so. While proceeding with caution, the market must take constructive steps to solidify its position as a potential cornerstone of the European industry. Putting faith in the platforms that have already proved they are worthy of fuelling growth, such as Quantum, is one such step. The stage is set for this market to truly make its mark on the betting industry: underestimate it at your peril.
The International Center for Responsible Gaming (ICRG) has welcomed Dr. Travis Sztainert as its new director of research and education. Dr. Sztainert, a distinguished researcher and knowledge translation professional, brings a wealth of experience and expertise in responsible gambling research to the ICRG. With a proven track record in effectively bridging the gap between knowledge, policy, and practice, he will help further the impactful work of the ICRG.
“We are delighted to welcome Dr. Travis Sztainert to the ICRG team. His extensive background in responsible gambling research and his commitment to transforming data into actionable knowledge align perfectly with our organization’s mission. We look forward to leveraging Travis’s insights to advance our efforts in promoting responsible gambling practices,” Arthur Paikowsky, President at ICRG, said.
Industry News
iGB L!VE announce LaunchPad, a new feature for start-ups with ‘innovation in their DNA’
Industry professionals attending July’s edition of iGB L!VE will have access to a vibrant new feature which will showcase ground-breaking tech and innovation courtesy of the brightest start-ups and small businesses in gaming.
The iGB L!VE LaunchPad (Pulse Stage: 18 July 16.30hrs – 18.00hrs) will feature five companies to present their innovations to a panel of judges with each presentation followed by a probing Q&A session designed to interrogate the viability and commercial prowess of each product pitch.
Introducing the new feature Portfolio Director Naomi Barton, said: “iGB L!VE is constantly evolving in order to meet the business needs of stakeholders. The research programme that we undertake with customers has consistently highlighted a shared desire to always be ahead of the curve, being the first to access the very latest innovations from the start-up community is part of what iGB L!VE 2024 will deliver.
“In addition, we want to provide a platform for new talented businesses to grow by giving them extra exposure in front of an influential C-Level audience of industry investors and influencers.
“The top five products will be hand-selected by the iGB L!VE team and invited to present from the Pulse Stage. In order to help these businesses, we are providing cash prizes of £5,000 for the winner, £2,500 for second place and £1,000 for third.”
She continued: “We will be giving the feature an authentic iGB L!VE twist with the emphasis on competitive fun. To ensure this, I am delighted to confirm that 25+ year industry veteran and non-exec Clarion Gaming Chairman Michael Caselli has agreed to be our MC and will also head a panel of judges drawn from across the iGB L!VE community of industry professionals, investors and sponsors.
“Start-ups and small businesses which have innovation in their DNA can sign up for iGB LaunchPad at igblive by the 28 June deadline.”
iGB L!VE is the home of the igaming community and the only event that connects the leading igaming affiliates, operators, tech vendors, game providers and suppliers in order to maximise performance and drive tangible business growth in the following 12-18 months. iGB L!VE, which is the fastest growing igaming event, delivers unparalleled business opportunities with attendees having free access to in excess of 300 exhibitors and sponsors occupying 21,000+ square metres of gross space, a figure which is 35% higher than in 2023.
For more information on iGB L!VE (16-19 July 2024: Expo Days 17-18 July) and to register for free visit: igblive website
The post iGB L!VE announce LaunchPad, a new feature for start-ups with ‘innovation in their DNA’ appeared first on European Gaming Industry News.
The Ortak x B.F.T.H. Arena Awards 2024 welcomes Endorphina among other top game developers with its Mr. First Ray, a mystical slot game that captures the essence of dawn.
This year’s competition has seen an unprecedented increase in participation, receiving over 100 submissions from more than 70 developers involved in the innovative Ortak initiative. This platform not only promotes collaboration and innovation but also integrates gaming stakes with NFTs on the Bahamut blockchain, thereby broadening investment prospects in the iGaming sector.
Mr. First Ray transports players into a world where each spin can lead to magical wins and enchanting surprises, making it a standout in this year’s entries. As the event approaches, excitement mounts among industry professionals keen to explore this showcase of creativity and excellence in game development, scheduled from July 1 to 4.
Hosted by BetConstruct, the B.F.T.H. Arena Awards provides a prestigious platform for developers to exhibit their creativity and compete for a share of the substantial 3,333,000 FTN prize pool. This year, the event has broadened its scope, introducing new award categories to further celebrate innovation in gaming.
The culmination of the event will see the winners announced at the B.F.T.H. Arena x Harmony Meetup V, ensuring an exhilarating experience for all attendees.
The post Ortak x B.F.T.H. Arena Awards 2024 Features Mr. First Ray by Endorphina appeared first on European Gaming Industry News.
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