The latest in sports betting news

Hi there, we’ve taken a look at what’s news, trending and being talked about in the sports betting world this week. Grab a coffee, take five minutes and we’ll fill you in on everything you need to know.

One big story

FDJ confident of closing Kindred Group buyout in October

La Francaise des Jeux (FDJ) is advancing with its deal to buy out Kindred Group. After securing all essential regulatory approvals for the acquisition, FDJ has moved its acceptance period for the buyout forward to 2nd October.

After tabling a ￡2.07bn bid for Kindred Group in January, FDJ set an initial acceptance period through to 19th November 2024, after which the offer would expire.

However, FDJ achieved approval from the French competition authority this week, which was the final hurdle to the transaction. If successful, FDJ will acquire over 90% of all available shares in Kindred Group.

FDJ believes the fusion between the two organisations will develop a ‘European gaming champion’, leading to greater revenues and earnings growth.

Click here to learn more about the deal, including how much value FDJ anticipates the buyout generating for its own shareholders.

What you need to know

Commercial

• Spotlight Sports Group has announced the rebrand of its premium sports betting, horse racing and fantasy sports content site builds. Its new-look Halo Content Destinations give media rights holders, sports media firms, affiliates and licensed operators a portal to create and publish engaging and insightful content, aimed at driving engagement within their target demographic. More ?
• EveryMatrix has tabled a deal to purchase Swedish iGaming studio Fantasma Games. The studio’s Independent Bid Committee has recommended that shareholders approve the buyout, which values Fantasma Games at ￡15.6m. The purchase would strengthen EveryMatrix’s iGaming content offering with Fantasma’s slots already integrated in 50 licensed markets. More ?
• DraftKings has committed another ￡3.78m towards the ‘Winning for Missouri Education’ campaign, as the online sportsbook reinforces its efforts to support a legalised sports betting market in the Show-Me State of Missouri. More ?
• Playtech’s H1 2024 trading update revealed the FTSE 250-listed iGaming firm has uprated its forecast for full-year EBITDA following stronger-than-expected B2B gains. The group said its B2B division performed well, noting revenue growth across the Americas, amid a focus on tighter cost control. More

Regulation

• The Brazilian treasury will commence the suspension of unlicensed online sportsbook operators from 1st October. A ten-day window will be afforded to Brazilians with active balances at black market sites, giving them time to withdraw funds before site access is restricted. The country’s regulated sports betting market is set to go live on 1st January 2025. More

Technology

• Gaming Innovation Group (GiG) has taken a bullish stance towards the fledgling sweepstakes casino market in the U.S. GiG believes the sweepstakes casino scene will expand from a market value of ￡2.33bn in 2022 to ￡5.2bn by 2025. To capitalise on this growth, GiG has launched its new ‘SweepX’ product suite to serve the fast-growing social casino vertical. More

People news

Dominic Vye appointed as marketing director for LiveScore and Virgin Bet

Dominic Vye has been named the new marketing director for LiveScore Group’s LiveScore and Virgin Bet brands.

Vye, who has cultivated a reputation as something of an expert in launching brands in new markets, previously worked as marketing and strategy director for Entain, covering the Latin American and Iberia regions.

Click here to hear more from Vye on his new role, as LiveScore and Virgin Bet attempt ambitious growth plans in the coming years.

This week’s talking point

The British horse racing industry watches Australia’s crackdown on gambling advertising with trepidation

The British horse racing industry might be nervously watching developments on gambling advertising restrictions in Australia. Politicians Down Under are heaping pressure on prime minister Anthony Albanese to enforce even greater limits on gambling ads.

Last week, Albanese also stood in parliament to say the link between sport and gambling “needed to be broken”. This has already sent shivers down the spine of Racing Queensland’s CEO Jason Scott, who fears a decline in prize-money and jobs if all gambling advertising were banned.

Reports have suggested leaders within the Australian horseracing industry fear as much as ￡155m in yearly funding could be lost if a widespread ban is implemented, something Scott described as potentially crippling.

Racing Post’s industry editor Bill Barber believes the UK’s Labour government may be watching developments with interest, with a similarly stark landscape on the horizon should gambling advertising come under the same regulatory scrutiny.

Click here to read more about last week’s Gambling Advertising Reform Summit, organised by Peers for Gambling Reform, who believe the lack of gambling advertising reform to be a major omission from the UK government’s gambling white paper.

This week’s insight

UK’s gambling black market continues to thrive unchecked

Around ￡4.3bn is wagered via the UK’s gambling black market each year, according to a new report from Frontier Economics, commissioned by the Betting and Gaming Council (BGC).

Following a survey of over 6,000 people, including multiple operators, analysts were able to deduce that around ￡2.7bn is staked on unregulated sports betting and casino sites annually. Meanwhile a further ￡1.6bn is being wagered in ‘underground’ gambling venues.

Grainne Hurst, CEO of the BGC, described the new figures as shocking, exposing the unnerving true scale of Britain’s black market gambling problem.

The report also warned that black market operators are easy to find, with an alarming 20% of 18-24-year-olds having wagered at least once via black market platforms.

The BGC claims the overflow of funds into Britain’s gambling black market could be costing the Treasury as much as ￡335m in tax over the course of a five-year parliament.

Click here to learn why Hurst feels the UK government and the UK Gambling Commission is sleepwalking into a major black market crisis.