Dear Cashmere Holding Company, also known as Swifty Global (Swifty), is set to enter the Irish gambling market under the domain name swiftysports.ie.
Swifty is a cutting-edge technology firm focused on creating ground-breaking solutions in the sports betting sector. Swifty aims to drive shareholder value through accelerated innovation and enhanced usability of the products the company develops. With licenses spanning several global jurisdictions, Swifty has successfully brought to market a revolutionary suite of offerings. This includes the company’s proprietary swipe betting sports prediction application, as well as its traditional sportsbook and casino gaming platforms.
The company started its gold-standard certification process with Gaming Laboratories International (GLI) for its B2B gaming platform back in October and this was completed and approved in Q4 last year.
Swifty can now announce its first partnership and through it will be able to offer a fully managed service package, akin to a franchise model agreement. Through this venture, it will be able to enter the Irish market, while the Irish gambling licence for this agreement has been approved.
The entry into the Irish market is anticipated no later than the end of Q1 of this year and the company expects a significant increase in profits.
The B2B platform will be offered on a franchise agreement basis and Swifty will also make the platform available as a white-label solution, with the arrangement allowing other gambling companies to procure a license to use Swifty’s platform for their own brands.
Swifty Global CEO James Gibbons said: “For the past two and a half years, Swifty has been dedicated to building its core infrastructure, laying a robust foundation for the business that will serve as the platform for its growth over the next decade. Heading into 2024, the company is encouraged by the demand for its in-house developed infrastructure. This new partnership and expansion into the Irish market is a testament to this demand. With the technological infrastructure now firmly in place, the focus of the company will shift significantly towards international growth and expansion. This renewed focus is geared towards leveraging the established infrastructure to explore new market opportunities, foster innovative partnerships, and ultimately drive the growth and profitability of the company. With a solid base in place, Swifty is well-positioned to capitalise on its investments and drive substantial business growth in the coming year.”
Fairplay Exchange signs as new sponsor of Stephen Hendry’s Cue Tips
Fairplay Exchange — the peer-to-peer cashless betting app — has partnered with one of the most iconic names in snooker by agreeing to sponsor a new challenge series on the Stephen Hendry’s Cue Tips YouTube channel.
Hendry is one of the most decorated snooker players of all time, with the Scotsman’s glittering career returning seven World Championship titles, 18 Triple Crown titles and 36 ranking titles in total, along with a staggering record of 471 weeks as world number one.
In each episode of the new series, Stephen will compete against a fellow player or figure from the worlds of snooker or other sports in a series of challenges to test their all-round skills and technique. The first episode of the new series features three-time world snooker champion Mark Williams; the epic snooker skills battle between the two greats can be seen here.
Since launching in April 2023, Fairplay Exchange has built a young, engaged, sports-focused audience who can set up real-money wagers on anything they want with their friends; the winnings are guaranteed to be paid in full and on time, saving players the trouble of chasing their peers for cash.
Billy Gowing, Fairplay Exchange’s Co-founder and Managing Director, said: “We are delighted to have the opportunity to sponsor this exciting new format on the Stephen Hendry’s Cue Tips channel; hosted by one of the most legendary figures in the history of the sport.
“Snooker is one of our most popular sports for players to bet on, so this is a perfect fit for us. The Fairplay Exchange app allows people to bet on casual games of snooker just like the ones you see in Stephen Hendry’s Cue Tips, and we are very excited to make the most of the opportunities this partnership presents.”
Stephen Hendry said: “Up and down the country, players in snooker clubs love to have a friendly wager on games between friends, and Fairplay Exchange gives players a platform to do that without having to chase each other for cash.
“It’s fantastic to have Fairplay Exchange on board as a partner for the new Challenge series format, and we hope the audience love the series as much as we do.”
Inside Brazil’s race to the finish line
The buzz around a fully-regulated Brazilian sports betting market has been amplified since the passing of legislation in late December 2023. As operators await the publication of a regulatory framework later this year, many industry stakeholders are trying to prepare themselves for meeting licensing requirements.
Marc Crean, OpenBet’s VP for Latin America and Canada, shares predictions for the months ahead.
After a two-decade wait for a legalised gambling market, Brazil’s president, Luiz Inacio da Silva, has now sanctioned law 14790 to approve gambling regulation in the booming LatAm market. The government has been engaging key stakeholders and giving regular and transparent updates over recent months and the path to regulation looks optimistic with a thriving market is in sight.
There are strong opinions from all sides about Brazilian regulation and how it should look, yet there is great potential to create new revenue streams and jobs for the country, which is generally viewed as the jewel in the crown of LatAm’s sports betting market. However, before the market can operate smoothly, sustainably, and safely, the serious issues of match-fixing, money laundering and responsible gaming must be ironed out. A highly publicised investigation concerning allegations of widespread match-fixing is still ongoing, with seven professional football players charged for alleged crimes in the scandal.
The government wants to establish a market that provides sports betting entertainment to Brazilians, generates revenue for the country and protects local players and institutions as quickly as possible, but the specifics of the regulations will change over time as technology develops. The framework must be flexible enough to cope with changing demands and stay one step ahead of illegal operations when it is finalised.
One introduction is a 12% GGR tax on operators, which is a sustainable rate and in line with other successful regions, as well as a 15% tax on bettors’ net gains. This is expected to generate R$3 billion in revenue for the Brazilian government each year. However, while the government will struggle to satisfy all stakeholders, taxes are not unique to Brazil nor to sports betting. Most market estimates have Brazil as third or fourth in the world in terms of size, and the proposed cost of a license is in line with UK and US costs.
What is clear is that Brazilian regulators must exercise caution on a proposed tax on player winnings. There is room to do this successfully based on how the tax imposition is implemented. It is in the law, so it is going to be in place, but the devil is in the details. It has been seen again and again how this type of tax, whilst well-intentioned, can reduce channelisation and end up pushing people to black market sites.
Shaping the industry of the future
Brazil has its own unique cultural, social and economic dynamics that will have a major influence on product, operations and marketing activities. Regulation will create a massive amount of local opportunity both on the supply and the operator side of our industry. However, people tend to overestimate the need for local product and underestimate the need for local marketing and operations. This invariably creates opportunities for local companies and I think this is healthy for our industry.
Early-adoption, innovation and an unparalleled consumption of social media are three local dynamics that will have a massive impact on the shape of the industry. As always, companies with boots on the ground will be better placed to understand and tap into these areas.
When you add in the size of the market and the passion for sports, we can expect to see a lot of new ideas and innovations coming out of Brazil once the market fully opens up and starts to flourish.
SCCG Announces Strategic Partnership with Major League Rugby
SCCG, a premier advisory firm in the sports entertainment and gambling industry, has announced a strategic partnership with Major League Rugby that aims to identify sports betting partners and leverage opportunities in the regulated gaming industry.
As MLR continues to cement its status as the premier rugby competition in North America, SCCG will collaborate closely with the league to explore relationships with sports betting operators and capitalize on the burgeoning market for regulated sports betting.
With its extensive experience and deep-rooted connections in the sports betting and gaming sectors, SCCG is perfectly positioned to assist MLR in forming strategic partnerships that enhance fan engagement and drive revenue growth. MLR also will be able to leverage SCCG’s expertise to navigate the evolving sports betting regulatory landscape and unlock new opportunities for commercial expansion.
“This strategic partnership with SCCG is another step forward in our journey to innovate. We are thrilled to explore the vast opportunities within the regulated sports betting market, aiming to enhance our fan experience and contribute to the sport’s growth in the lead up to the Rugby World Cups in 2031 and 2033 being hosted in North America,” Nic Benson, CEO of MLR, said.
“We are at a pivotal moment in the evolution of sports betting in the US, and this partnership with Major League Rugby represents a significant opportunity for growth and innovation. Our collaboration is a testament to MLR’s forward-thinking approach and our shared commitment to leveraging sports betting to enhance the fan experience and drive the sport forward,” Stephen Crystal of SCCG said.
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