This Week's Sports Betting Update

Hello, we’ve taken a look at what’s new, 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?

Potential bidding war looms for sportsbook provider Kambi

A bidding war is on the horizon for global sportsbook provider Kambi. That’s the view of hedge fund Alinea Capital Management, which recently outlined six likely bidders to acquire the Malta-based Kambi Group Plc.

The M&A speculation surrounding Kambi has escalated ever since its removal of the "poison pill" structure that had previously acted as a block to the firm being acquired.

Kambi was spun out as the sportsbook technology arm of the Kindred Group back in 2014. As part of that process, Kindred took a convertible bond worth $8.5m in Kambi which gave them the ability to convert it into equity and assume a majority shareholding. That effectively gave Kindred the power to block any potential suitors.

However, Kambi has announced a change to the arrangement, allowing it to repay the full loan amount and exit the bond deal anytime it chooses.

Click here to get the lowdown on the potential buyers for Kambi in the coming weeks and months.

What you need to know

Commercial

• ???? The Speaker of the House in Massachusetts has urged the state’s lawmakers to legalise college sports betting. Ron Mariano pleaded with the state legislature at the Greater Boston Chamber of Commerce’s Government Affairs Forum to guard against swathes of vulnerable bettors visiting unlicensed, unregulated operators instead. More
• ???? Spotlight Sports Group has unveiled a one-off sports betting content hub product geared towards the 2022 FIFA World Cup in Qatar. Following successful hubs centred on the Cheltenham Festival, the Winter Olympics and leading darts tournaments, this will be SSG’s first to deliver live football betting content. The hub can be easily embedded within sportsbooks and blogs using iframes, with localised content available in 70+ languages. More
• ???? Colorado sports bettors collectively wagered over $392m in April 2022, representing a 60% year-on-year rise. Sports betting revenues also grew 28% year-on-year. Online sportsbooks were responsible for the majority of gross gaming revenues ($18m), with $379,972 derived from retail sportsbooks. More than 37% of all bets placed were on basketball. More
• ???? ICE London 2023 is already nearing a sell-out nine months prior to the event. Organisers have confirmed an 85% take-up of stand space, following a hugely successful ICE London this year for suppliers. Some 410 companies exhibited this year, spanning 158 iGaming jurisdictions and 59 nations. More

Regulation

The Jersey Gaming Commission has confirmed the blacklisting of former Football Index founder, Adam Cole. The now-defunct platform had its licence with the commission suspended in March 2021 pending an inquiry into its conduct. Its parent company, BetIndex, was not deemed a fit and proper service provider and had its licence formally revoked in October 2021. More

Technology

888 Holdings has confirmed it is utilising artificial intelligence to retrieve funds from suspected bot accounts on its online poker platform. Almost $300,000 is on track to be refunded to legitimate players in 2022. So far this year, 888poker had already returned more than $80,000 to 1,390 players. The bots utilise algorithms and software programming to gain a data edge. More

People news

Betway names Mohit Chaddah as its new technology director

Super Group brand Betway has onboarded former Entain executive Mohit Chaddah as its new technology director. The former GVC Group, William Hill and GOAT Interactive head will be tasked with overseeing Betway’s tech output.

Following 15 months as chief technology officer for GOAT Interactive, Chaddah joins Betway as an experienced expert in tech delivery.

Chaddah’s career achievements to date include the re-platform of the Ladbrokes Sportsbook, as well as the development and launch of the inaugural sports betting exchange product in New Jersey, USA.

Click here to get the thoughts of Chaddah on his switch to Betway.

This week's talking point

BoyleSports puts its faith in the future of retail sports betting

BoyleSports has ambitious plans to increase its retail betting shop estate in the UK by the end of this year. Following the acquisition of betting shops formerly run by Midlands-based chain Wilf Gilbert, BoyleSports has formed a UK property team to help it go further.

Mark O’Neill, chief financial officer at BoyleSports, confirmed plans to launch another 20 betting shops across Britain by the end of 2022. The UK property team is led by former William Hill exec, Lee Otter.

O’Neill said the brand remained optimistic about retail and that it was complementary to its growth as an online sports betting brand too. O’Neill said the firm had noted considerable online growth in the Birmingham area, where its retail footprint has been largely focused thus far.

Click here to discover where BoyleSports plans to expand its British betting shop business next.

This week's insight

BtoBet reveals the evolution of the UK’s love affair with sports betting

BtoBet recently published its latest industry report with a focus on the UK’s betting scene. The publication assessed the evolution of the industry’s market share from retail to online and measured the omnichannel engagement of British sports bettors.

BtoBet reaffirmed that the UK market remains “one of the leading countries in the world for sports betting”, listing football and horseracing as two of the primary sports for British punters.

Figures from the UK Gambling Commission (UKGC) show that football betting accounts for almost half (46%) of the UK’s sports betting market. Meanwhile,?horseracing accounts for almost a third (32%).

The report goes on to discuss the rapid evolution of the content offering surrounding sports betting markets in a bid to "quench bettors’ thirst" for a more diverse landscape of sports betting insights and analysis.

Click here to catch the full report from BtoBet, which also outlines the growth of burgeoning verticals including online poker, slots and casino table games.

Ontario's online sports betting launch

A deep dive into the successful launch of Ontario's online sports betting market

Spotlight Sports Group recently partnered with The Parleh to discuss the launch of single-game sports betting in Ontario.?

The webinar featured the thoughts of PointsBet CCO, Nick Sulsky, The Score's VP of Marketing and Content, Aubrey Levy, Editor-in-Chief of The Parleh, Steve McAllister, and Spotlight Sports Group's own SVP of B2B Partnerships, Rick Wolf.?

The panel debated the best strategy to engage and retain customers, the value of high-quality content and the onboarding lessons learned from launching south of the border. Watch the discussion on YouTube or via the link below.?

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