This Week's Sports Betting Update

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?

Autumn Budget 2024 heaps pressure on UK horseracing industry

It could have been worse. That’s the view of Racing Post industry editor Bill Barber on this week’s Autumn Budget 2024, delivered by Britain’s first female chancellor Rachel Reeves.

Fortunately, Reeves opted against significant increases in gambling duties. However, there are still plenty of pressure points for UK horseracing to deal with.

Reeves’ plans to raise ￡40bn in taxation will by no means leave the sport untouched, with rising employers’ National Insurance contributions set to impact racecourses, breeders and trainers alike. The rise in the National Living Wage and the minimum wage will also affect the bottom line of racecourses, along with potential increases to business rates.

Click here to read more about the implications of the Autumn Budget 2024 for British horseracing, with one chief executive fearing it could put many trainers out of business.

What you need to know

Commercial

• Although the UK gambling industry avoided a hike in its tax rate in the Autumn Budget 2024, an overhaul of its tax system could be on the horizon next year. The Chancellor stated that proposals to consolidate the system under one tax – instead of remote gaming, general betting and pool-betting duties – would be undertaken in 2025. More ?
• EasyGroup, the firm which includes well-known budget airline EasyJet among its subsidiaries, has revealed the launch of its new EasyBet online sportsbook. The platform will be delivered in partnership with betting change operator Matchbook. More ?
• Playtech has secured access to BETER’s portfolio, including its Esports solution, ESportsBattle. Given the growing demand for Esports betting, BETER’s Esports content is being integrated into Playtech’s B2B offering across Europe and beyond. More ?
• Arizona’s sports betting market saw revenue and handle rise year-on-year in August 2024. Bettor spending also reached its highest monthly figure since May. Total handle reached ￡382.8m, up 38.4% year-on-year. Meanwhile adjusted gross revenue is up 4.7% year-on-year, after deducting free bets and promotional credits. More

Regulation

• Sweepstake casino gaming isn’t clear cut, according to Chris Cylke of the American Gaming Association (AGA). Cylke, who is the senior vice-president for government relations at the AGA, believes the current status of sweepstakes gaming is murky and may fall into the same category as other formerly unregulated gambling markets like fantasy sports. More ?

Technology

• Prepaid cards remain popular among British online bettors due to their anonymity and budget controls. That’s the view of Christoffer ?deg?rden, head of marketing at Bojoko, who says prepaid cards like Paysafecard can offer an additional layer of privacy to players’ bank accounts, while making it easier to set aside betting funds from everyday spending. More

People news

James Prosser named new growth director at Checkd Group

Checkd Group has confirmed the hire of James Prosser as the iGaming media and innovation studio’s inaugural growth director.

The new position has been created for Prosser, who recently spent time with Checkd as a tech-focused consultant in the summer.

His new remit will be to oversee conversion touchpoints, customer relationship management and other revenue-driving schemes on both sides of the Atlantic.

Click here to get the thoughts of Prosser on his new role, as well as Checkd’s managing director Alex Beecham.

This week's talking point

UKGC comes to its senses with a renewed focus on the UK’s gambling black market

Just over 12 months ago, the UK Gambling Commission’s (UKGC) chief executive Andrew Rhodes told a panel of MPs that fears about the rise of the UK’s gambling black market were overstated.

However, we can see that Rhodes and the UKGC have opted to get tough on the black market in recent months, as per a recent blog post from the UKGC CEO.

Rhodes outlined that the commission had issued 750 cease-and-desist notices and managed to expunge 255 black market websites from Google’s search engine.

All of which had happened between April and October. Rhodes described the UKGC’s activity as a tenfold rise in URL takedowns (up to 78,000) year-on-year.

Last month, a report commissioned by the Betting & Gaming Council (BGC), published by Frontier Economics, found that British punters wager ￡4bn per annum on the black market. That’s based on a survey of 6,000 regular gamblers.

Rhodes has revealed the commission will be working harder still to obtain more information on unlicensed and unregulated betting, with their findings to be published in spring 2025.

Click here to read more about the UKGC’s activity and whether its research has further highlighted the likely unintended consequences of overregulating the UK gambling market.

This week's insight

Why AI is the present in the bid to redefine the iGaming experience

Artificial intelligence (AI) in the world of iGaming is not the future, it’s the present. That’s the view of GR8 Tech’s deputy chief executive and chief technology officer Artur Ashyrov.

Ashyrov believes the iGaming industry is currently lagging behind other sectors in terms of its utilisation of AI technology. He feels the closed bubble nature of the iGaming industry, where operators are less inclined to share data and knowledge among their peers, is the root cause of the industry failing to leverage AI’s true potential.

At GR8 Tech, AI has been implemented within its underlying sportsbook and casino platforms for more than a decade. Ashyrov said AI has automated CRM tasks, improved customer support and driven improvements in operational efficiency and player engagement.

Click here to find out how the next tranche of AI-led applications can transform the industry, including from product configuration to operational automation.

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