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BETCONNECT SECURES FUNDING FROM INDUSTRY HEAVYWEIGHTS TO ACCELERATE GROWTH
BetConnect, the unique and disruptive exchange that has become one of the UK’s fastest-growing sports betting platforms, has secured funding from a consortium of heavy-hitting international investors. This pre-Series A round, validated by the backing of some of the industry’s most successful exponents, accordingly marks a significant milestone for the company, as it bids to expand its global footprint.
These influential industry figures comprise leading Australian sectoral specialist, Tom Waterhouse, CIO of Waterhouse VC; ex-Fox Bet CEO Robin Chhabra; and ex-Fox Bet Board Advisor and Grand Parade founder, Andy Clerkson. Yolo Investments, fronted by Tim Heath and fresh from winning Gaming Fund of the Year at this month’s Europe Gaming Awards, completes this formative funding round, bolstering re-investment from Candy Ventures whose support continues at every capital-raising stage.
The new financing will be used to accelerate BetConnect’s growth, both in the UK and internationally, supporting its technology and product roadmap over the next 12 months. Chhabra has also been appointed to the role of Strategic Business Advisor, leveraging his proven record of scaling businesses and leading some of the most consequential M&A deals at both William Hill and The Stars Group. His senior appointment underscores the company’s vision for the future.
Tom Waterhouse, CIO of Waterhouse VC, said: “BetConnect is at the forefront of a betting revolution that’s sweeping the industry. The Waterhouse VC Fund endeavours to generate capital growth by holding long-term strategic investments in companies that can reinvigorate tired thinking and disrupt the norm. The BetConnect model improves the experience for international customers, and can be flexibly adapted to accommodate blockchain assets and the inherent crypto benefits of better margins, lower transaction costs and faster withdrawals.”
Former Fox Bet CEO, Robin Chhabra, commented: “BetConnect has a genuinely innovative product that has been stress-tested in the UK’s ultra-competitive marketplace. Dan and his team offer a transformative vision and a super-agile platform which, combined with their ability to execute, sets BetConnect up for international expansion. For me, this investment constitutes an exciting strategic play in a company that has already laid the firm foundations to strike once exchange regulations do clearly coalesce across US states.”
Tim Heath, GP at Yolo Investments, added: “Yolo Investments has quickly gained a reputation as a natural home for early stage, high growth gaming businesses, and BetConnect absolutely fits the bill. The platform is already performing strongly in the UK, and with the backing of some of the biggest names in the industry, BetConnect is ready to take the next step. We plan to work closely with the BetConnect team, leveraging the Yolo Investments network, to help them along the way.”
Daniel Schreiber, Founder of BetConnect, concluded: “BetConnect’s growth over the last three years has been incredible and to have secured investment from such prominent industry leaders will accelerate this growth to the next level. The BetConnect platform already offers players the ability to choose from best odds from all major bookies. But this funding gives us the opportunity to develop new products and services to complement the core offering, keeping them all accessible and intuitive to the evolving demands of the end user. It also allows us to focus on a community-first approach which ensures that new developments will resonate with our users.”
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The European Lotteries Association Participated in This Year’s Integrity Seminar
As a founding member of the ULIS (United Lotteries for Integrity in Sport), EL has participated in this year’s Integrity Seminar in Lausanne.
In a dedicated panel discussion several EL members and national regulators came together to address the fight against illegals, one of the most pressing challenges in the sports and betting sector.
Lotteries and their national regulatory authorities share a common mission – to ensure a safe and secure environment for players. Yet, a significant challenge is the risk of overregulation. Panelists highlighted that striking the right balance of regulatory frameworks is essential to channel players towards safe and responsible betting products while upholding the highest standards of responsible gaming.
Global Challenge Requires International Collaboration
While national-level cooperation between lotteries and regulators remains crucial, the global nature of sports betting requires a broader, international approach. The panel emphasised the importance of the Macolin Convention, which offers a clear definition of “illegal sports betting” as any sports betting activity whose type or operator is not allowed under the applicable law of the jurisdiction where the consumer is located.
Key Takeaways from Panelists
The panelists including Jean-Luc Moner-Banet, CEO, Loterie Romande, Jens Nielsen, Sports Betting Director, Danske Spil, Andreas Arver, Integrity Officer, Svenska Spel and Simon Pedersen, Chief Adviser, Illegal Gambling, Match-Fixing & Market Statistics, Danish Gambling Authority, shed light on collaborative efforts to protect the integrity of sports and ensure fair play for all stakeholders. The panel was moderated by Alvise Angelini, EL’s Senior Policy Officer & Sport Secretary.
Jean-Luc Moner Banet stressed the importance of public awareness in combating illegal betting. Loterie Romande, as all other national lotteries, faces a continuous challenge: remaining attractive while at the same time mitigating the risks associated with gambling. By maintaining this balance, national lotteries can safeguard players, ensure sustainability, and contribute profits to the public good.
Panelists also agreed that certain sports, particularly smaller events and lower leagues, are more vulnerable to illegal betting activities. Lotteries play a key role here, for example with financial support, resources and knowledge to protect sports integrity, athletes and to fight the penetration of illegal betting offers.
The post The European Lotteries Association Participated in This Year’s Integrity Seminar appeared first on European Gaming Industry News.
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Pollard Banknote Joins 2024 Gift Responsibly Campaign to Raise Awareness of Youth Gambling Risks
Pollard Banknote Limited has announced its involvement in the 2024 Gift Responsibly Campaign, joining lotteries and organisations across North America and around the world to raise awareness about the risks associated with underage gambling. Presented by the National Council on Problem Gambling (NCPG), the campaign is supported by the North American Association of State and Provincial Lotteries (NASPL) and receives endorsements from the World Lottery Association (WLA) and European Lotteries (EL).
As a leader in the global gaming industry, Pollard Banknote is deeply committed to helping its lottery partners and charitable gaming customers maximize revenues for good causes, while encouraging players to play within their limits. With more than four decades of lottery experience and leadership, Pollard Banknote understands that supporting responsible gaming requires a complete ecosystem that involves education, lottery team knowledge and awareness, a robust communications plan and the right tools to enable lotteries to promote a positive play experience, while calling attention to the harms of problem gambling.
Responsible gaming policies and practices are an intrinsic part of Pollard Banknote’s entire product portfolio—from instant scratch tickets carefully designed to appeal strictly to adults, to state-of-the-art safeguards and controls incorporated into its digital solutions, including its omnichannel Pollard Catalyst Gaming Platform—ensuring that Pollard Banknote’s products protect players and comply with the most stringent standards on the market. As additional testaments to its ongoing commitment to responsible gaming, Pollard Banknote holds an Associate Member World Lottery Association (WLA) Responsible Gaming certification, engages in responsible gaming training sessions with NCPG and recently formed an internal responsible gaming committee.
“Pollard Banknote is proud to once again participate in the Gift Responsibly Campaign. As an organization, it is our goal to provide socially responsible tools and practices that protect players while maximizing proceeds for good causes. This involves working alongside the NCPG, WLA, and our lottery customers to promote safe and responsible gambling initiatives, not only during the upcoming holiday season, but throughout the year,” said Doug Pollard, Co-Chief Executive Officer of Pollard Banknote.
“The potential long-term risks associated with underage gambling exposure cannot be understated. We applaud Pollard Banknote for their commitment to raising awareness about the risks of youth gambling and for working to educate the community that lottery tickets are never appropriate gifts for children,” Keith Whyte, NCPG Executive Director.
Since the early 2000s, the Gift Responsibly Campaign has worked to educate the public about the risks of underage gambling. The 2024 campaign runs from November through the end of December, with participating lotteries and community organisations engaging in public awareness activities to promote responsible gambling practices during the winter holidays and all year long.
The post Pollard Banknote Joins 2024 Gift Responsibly Campaign to Raise Awareness of Youth Gambling Risks appeared first on European Gaming Industry News.
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