UK
British Bookmakers Set to Make Record Contribution for Rights to Show Horse Racing
British bookmakers are on track to make a record contribution to horse racing next year – with the bill for media rights forecast to increase by nearly £30m.
The Betting and Gaming Council’s five biggest members for horse race betting, Entain, Flutter, bet365, 888/William Hill and Betfred, expect to see a record cost increase to broadcast races.
In 2022, BGC members paid £270.1m for the rights to live stream races for customers and show them in bookmakers.
But that cost is forecast to rise to £285.3m this year, an increase of 5.6%, with members estimating a further increase to £315.2m in 2024, a further bump of 10.5%.
The combined increase for media rights costs is now expected to rise by 16.7% between 2022 and 2024.
The figures are based on data supplied by the Betting and Gaming Council’s five biggest members for horse race betting, then adjusted to include smaller operators, who must also pay for media rights.
Michael Dugher, CEO of Betting and Gaming Council, said: “BGC members are already making a record contribution to horse racing and these figures show that is only going to increase.
“This comes despite a reduction in betting turnover on racing in the last five years and a worrying decline in participation in horse race betting overall.
“Horse racing remains a hugely important, world-leading sport, enjoyed by millions of fans and like the betting industry it continues to support large numbers of jobs.
“I know racing is trying to modernise and reach out to new fans, while also trying to bounce back from the Covid pandemic and deal with some difficult economic headwinds, plus deal with the hit on its funding caused by the Government. The betting industry is dealing with many of the same pressures on our revenues and costs.
“The BGC and our members remain fully committed to working together with the leadership of the sport, including the BHA and others, to ensure a better future for racing. But the fact that we are making a record and growing contribution to the sport cannot be ignored.”
The forecast costs come after the BGC announced their members directly contributed £384m to British horse racing last year in levy, media rights and sponsorship deals.
These figures showed an increase on previous estimates for the regulated sector’s contribution, which had placed it at around £350m a year.
In addition, bookmakers spent £125m on marketing to promote racing and betting through advertisements and partnerships, which helps secure vital terrestrial coverage of the sport and raise revenue for print newspaper titles.
As well as the increased costs for media rights, levy payments are projected to be £99m in 2022/2023, according to the Horserace Betting Levy Board.
This record investment also enabled horse racing to use some of these revenues to deliver record prize money of £179.3m in 2022.
Horse racing is the second biggest sport in the UK, second only to football, with more than five million people attending around 1400 fixtures annually across 59 racecourses.
However, its popularity is in decline. In 2007, 17% of the population participated in horse race betting in the previous year, but that fell to 10% in 2018.
Meanwhile football overtook horse racing betting around the same time between 2017/2018.
The Department for Culture, Media and Sport has committed to reviewing the Horseracing Levy by next year.
The Horseracing Levy, which is administered by the Horserace Betting Levy Board, goes towards improving the sport, breeding and boosting veterinary care.
Betting operators are working closely with the British Horseracing Authority and racing stakeholders on much needed reforms to the fixture list and race programme which should increase commercial returns from the levy and media rights.
The regulated betting industry fully supports this once-in-a-generation opportunity to modernise horse racing so it can realise its full commercial potential.
The BGC is also working closely with the government on the proposed reforms from the White Paper to ensure those who enjoy betting can continue to do so without unnecessary intrusion, while introducing improved safeguards for the minority who struggle.
Betting shops currently support around 42,000 jobs, contribute £1bn a year in tax to the Treasury and another £60m in business rates to local councils.
The wider regulated betting and gaming industry contributes £7.1bn to the economy, generates £4.2bn in tax and supports 110,000 jobs.
In April DCMS unveiled the Government’s new White Paper on gambling reform, including a number of key measures the BGC had campaigned for.
Those included a new mandatory Ombudsman for the regulated sector, enhanced spending checks online and a new mandatory levy to fund research, education and treatment to tackle gambling related harm and problem gambling.
Each month in Great Britain around 22.5m adults have a bet and the most recent Health Survey for England estimated that 0.4% of the adult population are problem gamblers.
Meanwhile the unsafe, unregulated gambling black market online is growing in the UK, with the numbers betting on these sites doubling in recent years, and the amount staked in the billions.
partnerships
GiG signs landmark UK sportsbook and iGaming platform deal with iconic British brand, The Football Pools
Gaming Innovation Group (GiG) has announced a long-term deal to power The Football Pools (The Pools), one of the most established and long standing names in UK Pools betting, for the provision of its revolutionary sportsbook, SportX and iGaming platform CoreX as they migrate to GiG’s pioneering technology to relaunch The Pools online and drive digital performance for the brand.
The signed agreement carries extra significance for GiG, marking the entry of its X-Suite solutions into the UK market for the first time, with GiG having already established a strong foothold in driving growth for its partners in other highly regulated markets around the world.
The multi-award winning tech provider officially launched its suite of powerful new solutions in February this year, as part of a vastly enhanced turnkey suite. SportX has been designed to provide the most complete, integrated sports betting experience on the market, giving a feature-packed product that has been localised to power growth for UK operators. Recent partnerships with BetMakers for HorseRacing and Sportcast for bet-builder combined with a content rich roadmap helps to ensure delivery of one of the most advanced and feature-laden offerings currently available.
The Pools is the new umbrella brand encompassing the original ‘Football Pools’ brand which has operated in the UK for over 100 years, and has proved popular for generations of customers, as one of the earliest examples of pools based, accumulator bets to predict the outcome of professional football matches. This alongside a new suite of sports betting, casino and lotto products will enhance the customer experience, and ability to access a vastly increased number of jackpot prizes for Pools customers.
The combination of GiG’s turnkey solution across sports and casino, and the power of The Pools brand promises to be one of the most exciting and unique offerings on the market. Following a strategic refresh, this deal represents a next-step in the execution of GiGs amazing promise.
Online gaming in the UK offers one of the largest regulated markets around the world, with an estimated revenue of about £11.01 billion (€12.80 billion), second only to the US, according to data supplied by Statista.
Andrew Cochrane, Chief Business Officer at GiG, commented, “I am delighted that The Football Pools, a brand with such heritage in the UK market, have chosen GiG to power their ambitious online growth plans. We have gained a significant headwind with our X-Suite in regulated markets around the world since launch earlier this year, providing a springboard for us to leverage our vast wealth of experience in the UK market, a market we know extremely well, to help power revenue growth. I’m extremely optimistic about the continued success of our strategy to increase our B2B market share in key regulated European markets.”
James Arnold, CEO at The Football Pools added: “I am delighted to be able to announce this transformational partnership with GiG, at such a pivotal moment in the history of both organisations. I firmly believe this will enable us to realise the potential of ‘The Football Pools’ brand heritage, and to aggressively grow The Pools as we embrace the true digital transformation of this iconic British brand. Myself and my team have enormous faith in the ability and expertise of the GiG team, and very much look forward to a successful and mutually beneficial partnership for the years to come.”
The post GiG signs landmark UK sportsbook and iGaming platform deal with iconic British brand, The Football Pools appeared first on European Gaming Industry News.
Press Releases
SkillOnNet-powered online casino brand celebrates as player lands crazy win while playing Evolution Gaming’s Crazy Time
A lucky player at Genting Casino has won enough money to buy a house in less time than it takes to make a cup of tea after landing a massive £400k payout on a single round of Evolution Gaming’s hugely popular Crazy Time live gameshow title.
Gentingcasino.com, operated by Kinetic Digital and powered by the award-winning SkillOnNet platform, has a vast lobby of live dealer titles but with Crazy Time among the most played.
The big win came out of the blue with Crazy Time being renowned for crazy and unpredictable action that includes four bonus games inspired by classic TV game shows including The Price is Right and The Generation Game.
But for this big win, it was the Pachinko bonus that delivered. Events were set in motion when the reel above the prize displayed Pachinko with a 50x Multiplier. The host then spun the prize wheel, and it landed perfectly on the Pachinko segment to trigger the bonus with the 50x Multiplier in play.
The excited host then led players over to the Pachinko board which then revealed its randomly determined Multiplier prizes with a top 200x present in the prime spot left of centre. The 50x Multiplier was then brought in, multiplying all prizes and taking the 200x to a massive 10,000x.
The host then gave the chip some gentle encouragement to light up before dropping it into the Pachinko board. Players then watched in amazement as it tumbled down the pegs straight into the 10,000x space.
For the lucky player who placed the initial £40 bet, they won a massive £400,040 in just a single game round. Even those players who wagered just £1 walked away with a £10k prize.
Dom Aldworth, Head of Brand Marketing at Kinetic Digital, said: “Crazy Time by name, Crazy Time by nature for our lucky player who walked away with a massive £400k prize off a single game round. It’s moments like this that we love; players having a great time at Genting Casino and walking away with big prizes.
“We have a great live casino offering thanks to both our platform partner SkillOnNet and the five live direct roulette tables streamed from Genting Land based casinos, which is a major reason why Genting Casino is so popular with players in the UK.”
Jani Kontturi, Head of Games at SkillOnNet, added: “Live dealer is loved by players in the UK and when you see the fun, entertainment and big win potential titles such as Crazy Time offer, this should come as no surprise. This is why we have curated a market-leading live dealer offering for our partners.
“It’s great to see Genting Casino crown another big winner and to further establish itself as the home of online slots, casino and live dealer for players in the UK.”
The post SkillOnNet-powered online casino brand celebrates as player lands crazy win while playing Evolution Gaming’s Crazy Time appeared first on European Gaming Industry News.
LeoVegas Group is happy to announce a new multi-year partnership with Premier League club Wolverhampton Wanderers F.C., which will see the leading sports betting brand BetMGM becoming the club’s Official European Betting Partner. The Group has been a partner of the club since the 2023/2024 season, successfully boosting international brand awareness and recognition of the Group’s brands.
The new partnership will see BetMGM feature on Wolves’ double row pitch-side LED advertising system, static branding sites, and media interview backdrops at Molineux Stadium and the Sir Jack Hayward Training Ground for the 2024/2025 and 2025/2026 seasons.
Russell Jones, GM Marketing & Commercial Growth at Wolverhampton Wanderers F.C. said “We’re delighted to announce this partnership with BetMGM UK, and thank them for their support as we head into the 24/25 Premier League season.
“Their support is invaluable to the club as we look to expand our portfolio of commercial partners and we look forward to working with the BetMGM team over the next two seasons.
Sam Behar, UK Director BetMGM, said “It’s been almost a year since we started collaborating with Wolves, and we are very excited to continue this successful, awareness-boosting partnership for the next two years. Wolves are one of the most established clubs in the Premier League, and we can’t wait to see them in the first game of the season against Arsenal in August!”
The post BetMGM UK partners with Premier League club Wolverhampton Wanderers F.C. appeared first on European Gaming Industry News.
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