Canada
5 rules to starting an online casino or sportsbook (anywhere in the world)
If you’re looking to invest in a business sector that can outrun large-scale economic downturns, including a global pandemic, then look no further than online gambling. It’s a shining example of resilience in the face of strife – and that’s because gambling will never go out of style. This thought has occurred to many entrepreneurs, attested by the seemingly endless stream of new online casinos and sportsbooks.
But the internet is a very big place and there’s plenty of room for new ventures of all sizes. Getting started is the hard part, but turnkey platform providers like WiseGaming step in to help you avoid common mistakes that can result in unfortunate cash burnout. Here are five rules to keep in mind:
- Don’t try to do everything. This might seem like backwards advice but launching an online gambling business involves several moving parts that can become quite burdensome for a startup. Choose a solid online gaming platform provider, such as WiseGaming [https://wisegaming.com], who do all the hard stuff for you. This will allow you the time to focus on an extended business strategy, market analysis, finincial projections, and marketing plans.
- Partner with the best providers. Players look for games they recognize as this assures them that your site is a safe option. Using an aggregator will guarantee you make an impactful first impression with the best game library and sports markets from day one. WiseGaming [https://wisegaming.com] offers sportsbook software with over 100 sports, and has also teamed up with world famous providers like Pragmatic Play, Evolution Gaming and Play’n GO, allowing you to onboard a winning selection of over 10,000 games without the stress of multiple contracts.
- Pick a memorable brand and leverage it. A weak marketing plan is often a huge stumbling block for many fledgling brands. In a crowded and competitive space, you need to stand out with copy and design that appeals to your target demographic. Whether that’s something traditional or novel, choose your lane and commit across all your branding material. Your iGaming platform must be white-lable enabled, so you can make a first impression that generates sign ups and conversions.
- Get your finances right. You need a considerable amount of capital to get started, but your financial obligations don’t end there. Annual income projections, break-even worksheets, projected cash flow statements, and balance sheets – there’s a lot to keep your eye on both before and after launch. Smart financial planning allows you to benchmark your progress to success, which is why offloading platform responsibilities to a reliable provider can be crucial in those early days.
- Choose your license carefully. The law comes down hard on casinos and sportsbooks recently, and while safer gambling is a great thing, it can also result in nasty fines. If you’re new to the scene, it’s probably a smart move to stay out of heavily regulated jurisdictions. It’s faster and easier to launch with an iGaming platform on a Curaçao license, where you’re subject to less scrutiny and have access to several, diverse markets. WiseGaming software is compliant with the majority of regulated jurisdictions, giving you the freedom to decide.
WiseGaming isn’t your only option when it comes to choosing an online gaming platform provider, but they come with an unparalleled understanding of today’s gaming market and a wealth of hands-on experience. Check them out here and decide for yourself.
Andrew Cochrane Chief Business Officer of GiG
GiG increases Ontario market presence, powering the launch of Casino Time
Gaming Innovation Group Inc. (GiG), has announced the launch of Casino Time, powered by its award winning iGaming platform and pioneering real-time rules engine LogicX, with revolutionary sportsbook, SportX soon to follow, to further extend its footprint in the regulated Canadian province of Ontario.
The launch of Casino Time carries extra significance, marking only the second time that on-demand, regulated online Bingo has been made available in Ontario. The new Bingo product vertical, launched alongside a strong Casino offering, will be boosted by GiG’s new sportsbook, SportX, as part of a planned release later this year.
GiG has focused its solutions on driving exponential growth in revenue for operators with its highly scalable iGaming platform, offering localised third party content and leading suppliers for the Ontarian market. GiGs peerless gamification layer creates an optimised and immersive casino experience tailored to regional preferences, swelling client retention and player engagement.
Canadian owned and operated, Casino Time is a joint venture amongst leading retail operators in Ontario’s Charitable Gaming sector, delivering Bingo, Slots and Live Dealer Casino Games. Promising a personalised service and community experience, Casino Time is continuing its long-standing partnership with local charities, introducing its joint fundraising model into the iGaming space for the first time.
Now coming towards the end of its second year of licensed operations, Ontario has emerged as one of the largest iGaming markets in North America, second only to New Jersey according to data supplied by Vixio. The first and as yet only Canadian province to launch a regulated market, Ontario boasts more than 1.6 million active player accounts spread over 40 plus operators, generating €1.3 billion in Gross Gaming Revenue (GGR) in its first year of trading, with this data supplied by iGaming Ontario.
Andrew Cochrane, Chief Business Officer of GiG, said: “GiG continues to set the pace with a strong cadence of brand launches in 2024, and I’m pleased that when operators are seeking platform solutions in regulated markets, GiG is leading the pack. Our partnership with Casino Time, will help deliver something new and exciting to the Ontarian market, and further helps to demonstrate the flexibility of our solutions, adapting to match the regional aspirations of our partners to deliver growth.”
D’Arcy Stuart, CEO of Casino Time, said: “We are thrilled to partner with GiG as the core technology provider of our iGaming platform. Their powerful suite of player engagement tools, as well as diverse content and regulatory integrations, underpin our ability to serve and delight our player community. Our hybrid online and offline customer network, as well as unique bingo offerings, will drive exciting opportunities as the platform and the marketplace continues to grow.”
Glitnor Group, operating under the LCKY Group in Ontario, has joined the International Betting Integrity Association (IBIA). Glitnor Group’s luckycasino.ca brand sportsbook will feed into IBIA’s world leading betting integrity monitoring platform. The operator joins over 50 companies and 125 leading sports betting brands in IBIA and further cements the association’s position as the leading sports betting integrity monitoring body in Ontario and globally.
David Schwieler LCKY Group CEO, said: “At Glitnor Group, we’re dead serious about keeping our betting games fair and square. That’s why teaming up with IBIA is a big deal for us. We know how crucial it is to protect the spirit of sports, and we’re ready to roll up our sleeves and work closely with the IBIA to make sure sports betting stays exciting, speedy, and above all, fair.”
Khalid Ali, CEO of IBIA, said: “I am delighted to welcome Glitnor Group as IBIA’s latest member in Ontario. Glitnor and IBIA share a common goal to maintain the integrity of the sports betting marketplace and to protecting consumers and sports from match-fixing. Ensuring product integrity is paramount to our approach and we look forward to integrating Glitnor within our leading global sports betting integrity monitoring system.”
IBIA is a not-for-profit body that has no competing conflicts with the delivery of commercial services to other sectors and is run by operators for operators to protect regulated sports betting markets from match-fixing. IBIA’s global monitoring network is a highly effective anti-corruption tool, detecting and reporting suspicious activity in regulated betting markets.
Through the IBIA global monitoring network it is possible to track transactional activities linked to individual customer accounts. IBIA members have over $300bn per annum in betting turnover (handle), accounting for approximately 50% of the global commercial regulated land-based and online sports betting sector, and in excess of 50% for online alone.
IBIA recently released a report on the Availability of Sports Betting Products which highlighted Ontario as a leading regulated gambling jurisdiction, with an expected onshore channelisation for sports betting of 92% in 2024 forecast to rise to 97% in 2028. IBIA currently represents over 60% of the private sports betting operators licensed in the province. All online sports betting operators licensed in Ontario are required to be part of a betting integrity monitoring body.
IBIA’s 2023 annual integrity report detailed 184 alerts reported in the year, which represents a decrease of 101 (or 35%) on the revised 2022 figure of 285 alerts. IBIA alerts contributed to the investigations and subsequent successful sanctioning of 21 clubs, players and officials in 2023, an increase on the 15 sanctioned in 2022.
The post Glitnor Group expands IBIA’s betting integrity presence in Ontario appeared first on European Gaming Industry News.
Bragg Gaming Group Inc., a global B2B gaming technology and content provider, announced that Chief Financial Officer (CFO), Ronen Kannor, has notified Bragg’s board of directors (Board) that he will resign from his position to pursue other career opportunities, effective June 3, 2024. The Company confirms that the search for a replacement CFO has commenced.
Matevž Mazij, Chief Executive Officer and Chair of the Board, commented: “We thank Ronen for his dedication and commitment to Bragg over the past four years and for his unwavering service as a pivotal member of the leadership team.
“During his tenure as CFO, the Company has undergone huge positive transformation including being uplisted to the Toronto Stock Exchange, dual listed on the NASDAQ and successfully completing two acquisitions, all while reporting consecutive years of revenue, gross profit and adjusted EBITDA growth. We wish Ronen all the very best in his future endeavors.”
Ronen Kannor commented: “It has been an honor to be part of the Bragg team which has successfully navigated many challenges and continued to deliver consistent growth over the past four years. I thank the Board for their support throughout my time with Bragg, and I am now fully focused on ensuring a smooth handover to my successor.
“Special thanks goes to my finance team, who work tirelessly to deliver the positive change and financial growth that the Company continues to achieve. I wish them and all of my colleagues continued success with Bragg now and in the future.”
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