Press Releases
Videoslots expresses concerns over proposed Government measures
Videoslots.com, one of Sweden’s leading online casinos, has warned that a one-size-fits-all attempt to protect the country’s players during the Covid-19 pandemic could drive them into the arms of unscrupulous black-market operators.
Lawmakers will this week debate the introduction of forced limits on gambling deposits, as well as restricting bonus offers to SEK100 for customers who will also have to set mandatory time limits on the amount of time they play.
The new rules, which will be discussed on May 7th, would be in addition to Europe’s strictest gambling regulations. These include a limit on bonuses to first-time customers, interaction with players setting a deposit limit over 10,000 SEK, and ensuring they are not registered with the national Spelpaus self-exclusion program.
According to Ewout Wierda, General Counsel at Videoslots and a former regulator in the Netherlands, the proposed changes would make licensed operators uncompetitive in comparison to illegal operators, who can offer tempting bonuses and limit-free play.
Contrary to the Government’s stated 90% aim, the changes will decrease rather than increase so-called channelization, or the total share of online gambling that takes place on sites regulated by the Swedish license system as opposed to those operated illegally in defiance of it.
A Copenhagen Economics report commissioned by the Swedish Trade Association for Online Gambling, which includes Videoslots and other tier one operators within Sweden, has found that the online casino industry is already ‘exposed to fierce competition from unlicensed providers.’
The report showed that 40% of players within the market have gambled on unlicensed casino sites (25%), or would consider doing so (15%), with 58% of those players admitting that forced restrictions on bonus schemes are a reason why they choose to avoid regulated online casinos.
Ewout Wierda said: “Videoslots agrees with the licensing objectives and has invested a significant amount of time and money in sophisticated systems to keep a risk-based focus on customers who need protection. Player protection is our number one priority.
“We are therefore increasingly worried about the continued decline in the number of Swedish players choosing to place bets with fully licensed operators. We fear that online casino channelization in the country will soon drop below 70%.
“The changes proposed by the Government will take even more players away from the protection of the licensing system. Our player protection can help society cope with the current virus-related risks, but not if those players who need protection most choose black-market operators.
“Enforcement against black-market operators is needed but is not an alternative for the attractiveness of licensed operators. If the Government really wants to increase protection in online casinos, it needs to act quickly and sensibly. We urge them not to hamper us further by introducing counter-productive laws which will have unintended consequences.”
Social Security Minister Ardalan Shekarabi however has said he is serious about these measures and determined to implement them. In Wierda’s view, this will be a violation of EU law.
He added: “Measures must be taken in a transparent way and must be shown to be a good and consistent solution for a real problem. A discussion about proposals that have already been decided upon is not transparent. The government has no evidence of the need for measures or their effect. Licensed operators on the other hand can show there is no new risk. Forced fixed limits have proven to be ineffective by academic experts, and they are inconsistent with systems focusing on customers who are most at risk.”
BitLine
BitLine Enhances Onboarding Experience in Collaboration with Jumio: Simplified KYC for Casino Patrons
This collaboration emphasizes convenience, security and regulatory compliance
Through the BitLine app, users can seamlessly transact with up to US$10 million in casino chips 24/7
BitLine, a pioneering provider in the integration of digital assets for direct access to casino chips, proudly announces a strategic alliance with Jumio, an industry leader renowned for its comprehensive know-your-customer (KYC) solutions.
This partnership marks a significant milestone as BitLine streamlines its onboarding process for casino patrons, ensuring a seamless and secure journey into the realm of digital asset-based payments for gaming.
The collaboration between BitLine and Jumio signifies a commitment to delivering unparalleled convenience while upholding the highest standards of security and regulatory compliance. By leveraging Jumio’s advanced technology, BitLine reinforces its dedication to building trust among users and offering a frictionless experience for individuals seeking access to casino chips via digital assets.
Richard Jones, the Chief Executive Officer for BitLine by Ibanera, expressed enthusiasm about the partnership, stating: “Trust and compliance are the cornerstones of every successful casino venture. At BitLine, our vision to innovate this industry through digital assets hinges on maintaining trust and adherence to regulations. Our collaboration with Jumio represents a monumental stride towards achieving this vision, ensuring that casino patrons transact securely and confidently through our platform.”
Echoing this sentiment, Robert E Prigge, the Chief Executive Officer for Jumio, commented: “The evolving landscape of digital assets presents endless possibilities and BitLine’s innovative approach has reshaped the casino industry. By eliminating withdrawal limitations and expanding accessibility, BitLine has ushered in a new era of gaming. We are thrilled to contribute to BitLine’s journey by providing essential elements of security and compliance.”
BitLine by Ibanera grants cryptocurrency owners unprecedented access to up to US$10 million in casino chips, 24/7/365, serving as a conduit for liquidity on the casino floor. Through the intuitive BitLine app, casino enthusiasts worldwide can initiate transactions within minutes, leveraging their digital assets to unlock funds effortlessly.
Sportradar Group AG today announced that Craig Felenstein has been named Chief Financial Officer of the Company, effective June 1, 2024. Felenstein joins the Company from Lindblad Expeditions where he most recently served as Chief Financial Officer. He will report directly to Sportradar Chief Executive Officer Carsten Koerl.
Felenstein brings nearly 30 years of senior finance and operating experience for US publicly listed companies across the media, entertainment, experiential and digital content industries to his new position at Sportradar. Most recently, Felenstein served as Chief Financial Officer at Lindblad Expeditions, a global leader in expedition cruises and adventure travel, where he oversaw the company’s global finance organization, as well their corporate development, information technology and human resources functions. In his role as Sportradar’s Chief Financial Officer, Felenstein will lead the company’s global finance, accounting and investor relations functions. Felenstein has a unique blend of financial rigor and operational insight and will partner with the rest of the executive leadership team to advance the company’s key strategic initiatives and grow the business while maintaining strong relationships with the investment community. He will be based in New York.
Carsten Koerl, CEO, Sportradar said: “With Craig’s deep international experience and successful track record building finance organizations as a CFO at US listed public companies, I am confident that he will be a strong addition to our team. His track record of helping drive financial strategy and building shareholder value will be instrumental to our continued success. We want to express our deep gratitude to Ger Griffin for his meaningful contributions to Sportradar during a transformational growth period for our Company.”
Prior to his tenure at Lindblad, Felenstein served as Senior Vice President of Investor Relations and Strategic Finance at Shutterstock where he oversaw all interaction with the investment community while leading the financial planning and analysis and corporate development functions. Prior to Shutterstock, he served in various management roles at Discovery Communications, LLC, including Executive Vice President of Investor Relations. At the same time, he was a member of the executive team for several of Discovery’s businesses including serving as the Chief Financial Officer of Digital, Chief Financial Officer of US Network Revenue and Chief Financial Officer of Animal Planet. Prior to Discovery Communications, he held senior positions at News Corporation, Viacom Inc., and Arthur Andersen & Co.
Felenstein said: “Sportradar has built an impressive leadership position in the rapidly growing global sports technology market and the Company is ideally situated to deliver sustained growth given their strong content portfolio, unmatched product offerings and commitment to industry innovation. I am excited to work with Carsten and the entire Sportradar team, as well as the Board of Directors, to capitalize on the significant growth opportunities ahead and deliver additional value to our clients, partners and shareholders.”
Leading bookmaker becomes official betting partner of first UK Classic meeting of 2024
William Hill has been announced as the new official betting partner of the Qipco Guineas Festival, the first UK Classic meeting of the season.
It’s the latest addition to William Hill’s spring racing roster, following sponsorship of The Lincoln Handicap at Doncaster, the Punchestown Champion Chase and its status as official betting partner of the Randox Grand National Festival.
The 2,000 and 1,000 Guineas headline the three-day meeting and the leading bookmaker will sponsor 15 races across the weekend with the Jockey Club Stakes, Palace House and Dahlia Stakes among the races now featuring the William Hill title.
Aidan O’Brien’s unbeaten superstar City of Troy is still all the rage for the 2,000 Guineas at 4/6 whereas Karl Burke’s Fallen Angel heads a competitive looking 1,000 Guineas market at 7/2.
“We’re delighted to become the official betting partner of the Qipco Guineas Festival, strengthening our relationship with The Jockey Club on the back of a fantastic Grand National Festival,” a spokesperson for William Hill, Lee Phelps, said. “It’s brilliant for William Hill to be associated directly with such a prestigious event at Newmarket, the home of the thoroughbred, for this season’s first two Classics. The company has a close connection with the history of the 2,000 Guineas as William Hill himself bred the 1949 winner, Nimbus, who then went on to win the Derby.
“We’re excited to be involved at racing’s key meetings and see the Qipco Guineas Festival as the perfect sponsorship as the British flat season kicks into gear.”
Newmarket – 2,000 Guineas: May 4, 2024
| City Of Troy | 4/6 |
| Rosallion | 4/1 |
| Notable Speech | 12/1 |
| Henry Longfellow | 12/1 |
| Night Raider | 16/1 |
| Alyanaabi | 16/1 |
| Ancient Wisdom | 16/1 |
| Task Force | 16/1 |
| Ghostwriter | 16/1 |
| Iberian | 20/1 |
| BAR | 25/1 |
Newmarket – 1,000 Guineas: May 5, 2024
| Fallen Angel | 7/2 |
| Ylang Ylang | 4/1 |
| Dance Sequence | 5/1 |
| Ramatuelle | 10/1 |
| See The Fire | 12/1 |
| Content | 12/1 |
| One Look | 14/1 |
| Pretty Crystal | 14/1 |
| Buttons | 20/1 |
| Purple Lily | 20/1 |
| Porta Fortuna | 20/1 |
| Star Style | 20/1 |
| BAR | 25/1 |
The post William Hill Announced as Official Betting Partner of Qipco Guineas Festival appeared first on European Gaming Industry News.
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