Canada

Web3 Fantasy Sports Platform Gambit’s Private Alpha Launch Sees 23,000 Registered Players in First Two Weeks Following US$1.5M Pre-Seed Funding Round

Published

2 years ago

June 9, 2022

Pioneering a more accessible fan-centric gaming environment for the web3 fantasy sports ecosystem
NBA Finals excitement brings in players from across the world, with especially high engagement in Indonesia, Vietnam, the Philippines, and India
Powered by crypto venture studio SuperLayer, backed by innovators across web3, sports, and technology such as Joe Montana and Marc Andreessen

Gambit, a tokenized fantasy sports platform that allows players to build, trade, play, and earn through their favorite sports, has enjoyed a successful Private Alpha Launch throughout the NBA Playoffs and is capitalizing on the excitement of the NBA Finals this week as the Warriors and Celtics tie going into Game 3.

Gambit has seen significant and sustained user growth over the course of the NBA Playoffs with over 26,000 registered players invited to test the Alpha product from a waitlist of over 130,000. Engagement has been highest in Southeast Asia and India, accounting for over 60% of players.

Communities are at the cornerstone of web3 ecosystems and Gambit has already seen mass appeal on a global level, with players across Asia accounting for the majority of its current users. This is in line with the growing internationalization effort driven by the NBA, which has seen significant popularity in markets across Southeast Asia such as the Philippines and Indonesia. Compounded with strong adoption of play-and-earn and free-to-play (FTP) gaming across the region, Gambit has experienced impressive global engagement figures through the NBA Finals, with a more winnable and fan-friendly product.

Once the NBA season comes to a close in mid-June, Gambit will be gearing up for its next milestone — a public allowlist Beta launch — focusing on bringing a new sport and over 100,000 users onto its platform. Soccer will be making its debut on the platform this year, starting with the “Big Five” European leagues. While the Beta waitlist for the soccer season will begin with current players, new members will be given many opportunities to experience the Beta product for themselves. Gambit will also be working to release its platform to a wider audience during its full public launch later this year.

Commenting on the growth seen to date, Riaz Lalani, Founder of Gambit, said: “Today’s fantasy sports ecosystem has largely forgotten about the fans — games are more about crunching numbers than the fun and enjoyment that comes with being a sports fan. At Gambit, we want to put the power back in fans’ hands, enabling them to own the fantasy sports journey from start to finish. We’re taking the play-and-earn dynamic one step further, empowering our users to play-to-own. We’re excited to offer an ecosystem that every sports enthusiast deserves and has a collective stake in.”

Rather than simply address the shortcomings of existing fantasy platforms, Gambit is forging a new path by prioritizing accessibility, ownership, and fun over the transactional nature of traditional web2 fantasy sports. The community ethos of web3 ensures greater persistence and retention among users through the $GMBT token, which encourages alignment across customers, builders, and stakeholders. However, Gambit does tackle the critical pain point of equal odds and equal outcomes in today’s fantasy sports market. With existing platforms heavily skewed towards experts, Gambit ensures that casual fans have the opportunity to win alongside hardcore players, making the gameplay equally enjoyable and accessible for everyone involved.

To support Gambit in its next phase of growth as it transitions out of its Alpha Launch, the project has received US$1.5 million in pre-seed funding from SuperLayer, a venture studio born out of and made exclusively for web3. Incubated through SuperLayer, Gambit also benefits from unparalleled access to the resources and expertise of the $RLY Network, which supports multiple layer-one protocols including Ethereum and Solana, providing liquidity across tokens.

Mahesh Vellanki, Managing Partner of SuperLayer, said: “Over the past year, NFTs have radically transformed the world of sports — from the gamification of the digital sports collectible market to the rising popularity of NFTs across basketball to Formula 1, it’s clear that franchises, teams, leagues, and fans alike have all come to recognize the value that crypto brings. Gambit is taking this one step further by leveraging fungible athlete tokens in a way that provides a next-gen product experience for players, while simultaneously solving tangible problems faced by traditional fantasy sports operators. We’re thrilled to be supporting Gambit as they demonstrate the true utility that crypto can bring to traditional consumer applications.

Led by a team with a proven track record across the worlds of crypto and venture capital, projects within the SuperLayer ecosystem benefit from access to a best-in-class network of founders and a multi-disciplinary bench of successful backers. These include Andreessen Horowitz managing partner Marc Andreessen, Animoca Brands co-founder Yat Siu, former NFL quarterback Joe Montana, Japanese professional football player Keisuke Honda, early-stage blockchain investor Jehan Chu, and many more. SuperLayer is also a partner of the RLY network, an open, decentralized network, that supports an ecosystem of consumer crypto applications with the goal of bringing the next 100 million users into crypto.

AGCO

AGCO Requires Ontario Gaming Operators to Stop Offering WBA Bets Due to Integrity Concerns

Published

2 days ago

April 22, 2024

GamingAmericas.com

agco-requires-ontario-gaming-operators-to-stop-offering-wba-bets-due-to-integrity-concerns

The Alcohol and Gaming Commission of Ontario (AGCO) has mandated all Ontario-registered sportsbook operators to halt offering and accepting wagers on World Boxing Association (WBA) events immediately. This measure is being taken to protect the Ontario betting public following concerns that WBA-sanctioned boxing matches are not adequately being safeguarded against match-fixing and insider betting.

Since December 2023, the AGCO has been conducting a comprehensive review of suspicious wagering activity on a WBA-sanctioned title fight between Yoenis Tellez and Livan Navarro that was held in Orlando, Florida. Suspicious betting patterns on the bout lasting over 5.5 rounds were reported to the AGCO by two registered independent integrity monitors and detected in Ontario by a registered igaming operator. Media reports also alleged that Tellez’s Manager placed $110,000 on the match lasting longer than 5.5 rounds at a Florida casino. The bout ended with Tellez knocking out Navarro in the 10th round.

Following an intensive review that included outreach to the WBA, Ontario-registered gaming operators, independent integrity monitors, and regulators in other jurisdictions, the AGCO has concluded that bets related to WBA events do not currently meet the Registrar’s Standards for Internet Gaming.

The AGCO requires all Ontario-registered gaming operators to ensure the sport betting products they offer are on events that are effectively supervised by a sport governing body. At a minimum, the sport governing body must have and enforce codes of conduct that prohibit betting by insiders.

Registered gaming operators were unable to demonstrate to the AGCO that the WBA prohibits betting from insiders, which could include an athlete’s coaches, managers, handlers, athletic trainers, medical professionals, or others with access to non-public information. Further, registered gaming operators were unable to demonstrate that the WBA took any action to investigate or enforce the allegations of potential match-fixing and insider wagering.

The AGCO has indicated to registered operators that in order for WBA betting products to be reinstated in Ontario, operators must demonstrate that the WBA effectively supervises its events, thus bringing them into compliance with the Registrar’s Standards. In December 2022, the AGCO required gaming operators to stop offering bets on UFC events for similar issues related to insider betting safeguards. Within a month, UFC amended its policies and implemented new protocols that allowed the AGCO to reinstate betting on UFC events in the province.

“Ontarians who wish to bet on sporting events need to be confident that those events are fairly run, and that clear integrity safeguards are in place and enforced by an effective sport governing body. Knowing the popularity of boxing in Ontario, we look forward to reinstating betting on WBA events once appropriate safeguards against possible match-fixing and insider betting have been confirmed,” Dr. Karin Schnarr, Registrar and CEO of AGCO, said.

Andrew Cochrane Chief Business Officer of GiG

GiG increases Ontario market presence, powering the launch of Casino Time

Published

6 days ago

April 18, 2024

GamingAmericas.com

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.”

Canada

Glitnor Group expands IBIA’s betting integrity presence in Ontario

Published

2 weeks ago

April 10, 2024

Adrienn Sarkany

glitnor-group-expands-ibia’s-betting-integrity-presence-in-ontario

Reading Time: 2 minutes

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.