Canada

PROPHET EXCHANGE OFFERING BEST ODDS IN NEW JERSEY FOR 2022 NFL SEASON

Published

2 years ago

September 20, 2022

Prophet Exchange, the newly launched New Jersey-based peer-to-peer sports betting exchange, offered more competitive moneyline prices than its operator rivals in its first-ever NFL regular season gameweek.

A bettor who staked $100 on every winning team for NFL Week One would have made $157.46 more with Prophet Exchange, than a traditional sportsbook (total payout less Prophet Exchange’s 2% commission on each market). That’s about 10% more than a bettor would have won on a sportsbook.

Prophet Exchange operates a peer-to-peer model—the first of its kind in the United States—and acts solely as an intermediary. This means it takes no risk, and simply allows users to set prices, or place bets on prices already set by other users. The exchange then passes this unique benefit directly to the customer, by offering better prices.

Unlike traditional sportsbooks, Prophet Exchange does not add margin or vig to its odds, and sets no limits to wagers, as long as customers have a counterparty to match their bet.

Prophet Exchange also highlights it has a huge advantage on prime-time games. In Week One, Prophet Exchange bettors enjoyed superior pricing, and lots of liquidity, in prime-time: the exchange closed Thursday Night Football, Buffalo at Los Angeles at -118/+117, Sunday Night Football Tampa Bay at Dallas at -124/+122 and Monday Night Football Denver at Seattle at -265/+260.

“If a bettor bet $100 on every underdog for week one of the NFL on the Moneyline, they would have won $207 on a sportsbook—but with Prophet Exchange they would have won $318,” says Prophet Exchange co-founder and CEO Dean Sisun. “We offer competitive pricing and transparency that traditional operators simply can’t match. Our peer-to-peer model has already been a great success here in New Jersey, which bolsters our overarching vision to become the mainstream betting platform in the United States.”

New customers on the exchange this month will receive a 50% deposit match, up to $250 bonus.

“If you’re looking to bet on a team to win, or bet a prime-time game, Prophet Exchange has already proven in one week that it is the place to do so. We offer the best moneyline prices on both sides of the ball, along with spreads and totals at +100 odds, instead of the traditional -110,” says Prophet Exchange co-founder and COO Jake Benzaquen.

“Our offer of a 50% deposit match for new sign-ups in September makes Prophet Exchange an even greater value proposition for New Jersey bettors. We look forward to offering unrivaled moneylines for the rest of the NFL season—and beyond.”

NFL Legend Victor Cruz placed the very first bet on the exchange, on his beloved New York Giants. Cruz matched two bets, one on the New York Giants +5.5 at +100 (even) odds against the Tennessee Titans in Week One and one on the Giants moneyline at +230, winning both. Additionally, Cruz matched a bet on the Tampa Bay Buccaneers moneyline at -130 and won that too. A perfect Week One for the world champion!

Prophet Exchange offers moneyline, spread and total markets for NFL, NBA, NHL, MLB, NCAA Football & Basketball games. They will continue to add new sports and markets as the platform scales.

The Prophet Exchange platform is available on iOS, Android and web in New Jersey.

Alcohol and Gaming Commission of Ontario (AGCO)

Soft2Bet strengthens integrity monitoring with IBIA membership in Ontario

Published

1 day ago

May 6, 2024

GamingAmericas.com

soft2bet-strengthens-integrity-monitoring-with-ibia-membership-in-ontario

Soft2Bet, a leading casino and sportsbook platform provider, has joined the International Betting Integrity Association (IBIA) and activated its membership in Ontario, Canada, following its licensing in the Canadian province.

Soft2bet obtained its Certificate of Registration from the Alcohol and Gaming Commission of Ontario (AGCO) at the end of March, where the company’s Ontario-focused brand Tooniebet.com will now feed into IBIA’s world-leading sports betting integrity monitoring platform before worldwide implementation in the coming months.

IBIA includes over 50 of the world’s leading sports betting and gaming companies, who operate over 125 sports betting brands. Soft2Bet’s decision to join the association further strengthens its own internal betting integrity protocols and IBIA’s position as the world’s leading sports betting integrity monitoring body.

David Yatom Hay, General Counsel at Soft2Bet, commented: “Soft2Bet is delighted to be joining the IBIA as we strengthen our own betting integrity monitoring processes and play our part in furthering the IBIA’s long-standing work on this key issue. Ontario is a world class iGaming jurisdiction; it will be the first market where we will implement our IBIA membership and we look forward to deploying the monitoring infrastructure worldwide in all the other markets in which we operate.”

Khalid Ali, CEO of IBIA, said: “Soft2Bet is a very welcome addition to IBIA, further strengthening our position in the Ontario market. The operator’s decision to join IBIA demonstrates its desire to utilise the best integrity protection available for its sportsbook product. The association is delighted to be able to integrate Tooniebet within our integrity monitoring system and looks forward to working closely with Soft2Bet to maintain the high integrity of its sportsbook.”

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 and 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 monitoring network it is possible to track transactional activities linked to individual customer accounts. IBIA members generate more than $300bn in annual 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% in2028. IBIA currently represents over 60% of the private sports betting operators licensed in the province. All online sportsbetting operators licensed in Ontario are required to be part of a betting integrity monitoring body.

IBIA’s Q1 2024 report detailed 56 alerts during the quarter. 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.

British Columbia Lottery Corporation

SCCG Management Signs Contract with British Columbia Lottery Corporation

Published

1 week ago

April 29, 2024

GamingAmericas.com

sccg-management-signs-contract-with-british-columbia-lottery-corporation

SCCG Management has signed a contract with the British Columbia Lottery Corporation (BCLC), the B.C. Crown corporation which conducts and manages commercial gambling in the province, including lotteries, casinos, and online gaming. This partnership aims to undertake a comprehensive assessment and strategic enhancement of BCLC’s diverse operations.

The work between SCCG and BCLC will involve a thorough review of technological infrastructures, strategic market positioning, and the integration of various gaming modalities. SCCG’s extensive expertise will be pivotal in harmonizing BCLC’s online and physical gaming experiences.

Stephen Crystal, Founder and CEO of SCCG Management, said: “Our collaboration with BCLC represents a remarkable opportunity to push the boundaries of innovation within the gaming industry. We are committed to deploying our resources and expertise to enhance BCLC’s operational efficiencies and customer engagement strategies. It’s an honor to partner with an organization that has a robust impact on the community through its support of public initiatives.”

AGCO

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

Published

2 weeks 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.