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 and gambling world this week. Grab a coffee, take five minutes, and we’ll fill you in on everything you need to know.

One big story

UK online gambling hits record number of bets and GGY increase in Q4

The latest industry report from the UK’s Gambling Commission relays a new record for the number of bets taken in a quarter. Totalling over 24 billion bets and slot spins, the figure marks a 10% bump on Q4 2022-2023 (January-March 2023) alone.

Furthermore, the increase in gross gambling yield to ￡1.4 billion between Q4 2023-2024 (January and March 2024) marked a ￡65 million increase on Q1 and around ￡600 million on Q3.?

Powering this increase was an apparent surge in slot gaming between last year and this year.

The number of spins climbed by 12% to 22 billion in Q4 2023-2024, accounting for 91.67% of all bets placed this last quarter. GGY, naturally, saw a hefty increase of 11% year-on-year as a result, coming in at ￡614 million.

Click here to learn more about the increase in the UK’s online GGY for the data covering January to March 2024, as well as the online and offline safer gambling indicators explored in the report.

What you need to know

Commercial

• After finding success in its first European market, the UK, BetMGM is now expanding further onto the continent. The iGaming platform owned by MGM Resorts uses LeoVegas Group’s proprietary technology and platform and is now set to launch in the Netherlands. It marks what LeoVegas CEO Gustaf Hagman calls an important step in their international expansion following the "tremendously successful" UK launch. More

• In partnership with Games Global, formerly Microgaming, Stormcraft Studios will release its sequel to one of the most successful online slots ever released. Immortal Romance 2 comes 12 years after the original on 28 May.?More

• The strategic marketing partnership between Playtech and NorthStar Gaming has been extended. The marketing agreement put in place last year to accelerate player acquisition in Ontario for NorthStar resulted in a total contribution of services valued at $4 million. The renewal is tipped to bring with it similar services worth up to $4 million.?More

Regulation

• The BHA has insisted how vital it is that the majority of punters who bet safely are not impacted by affordability checks after the Gambling Commission issued further details of its plans this week, including a six-month pilot of enhanced checks starting in August. The news came as the commission set out its long-awaited response to the consultation it ran on affordability checks last year. More

• In preparation for the implementation of the proposed ‘frictionless’ affordability checks, an interim gambling industry ‘Code on Customer Checks’ was also published this week. Its aim is to reduce the number of customers being asked for documentation under the ad hoc system of checks created during the wait for the government's gambling white paper. More

• The EU has brought forward a new anti-money laundering package in an attempt to boost money protection across Europe. If cleared by the Council of Europe in May, the package will aim to help operators conduct more consistent AML practices. More

Technology

• Xpoint has unveiled its proprietary feature Trust Mode, aimed at helping iGaming operators remain compliant with IP protection regulations more efficiently. The feature reduces geo-location checks by over 20%, enabling significant savings on costs. More

People news

Justin Psaila named CFO of White Hat in time for new expansion phase

Full-service online gambling platform and turnkey solutions supplier White Hat Gaming has appointed a new chief financial officer. Justin Psaila comes into the role having spent nine years as Gaming Innovation Group’s CFO.

Boasting over 20 years of industry experience, Psaila will be tasked with aiding White Hat Gaming in hitting its aggressive expansion goals around the world. This follows the firm’s achievement of WHG subsidiary White Hat Studios going live in all seven US jurisdictions where iGaming is permitted.

CEO of White Hat Gaming Phillip Gelvan says that Psaila's joining will "undoubtedly strengthen [their] impressive executive team."

Click here to read more about the appointment of White Hat Gaming’s new CFO.

This week’s talking points

Should the Arizona Coyotes (NHL) moving to Utah impact SaharaBets’ licence to operate?

Arizona event wagering licences are awarded to professional sports franchises so that they can offer legal sports betting on their grounds. Playing in the NHL, the Arizona Coyotes exercised their licence and brought in SaharaBets.

At the end of April, it was announced that the Arizona Coyotes wouldn’t be in the NHL next season. However, the situation is rather complicated. The Coyotes’ assets will be going to Utah (which hasn’t yet legalised sports betting) to form a new franchise. The existing Arizona franchise will be deemed inactive unless a new state-of-the-art facility for an ice hockey team is built within five years.

In this complex situation, Arizona does technically have a dormant NHL team, one that’s still owned by the same person (Alex Meruelo) who was initially awarded the licence. Incidentally, Meruelo also owns SaharaBets.

Click here to read more about the situation.

This week’s insight

Tackling the dual threat of illegal iGaming sites and the black market

In order to avoid unfair stigmatism pointed towards the modern iGaming industry, new consumer behaviours need to be addressed as a collective. That’s according to the CEO of Gaming 1, Emmanuel Mewissen, who sees the black market presence as a considerable threat in Belgium – the company’s home nation.

Mewissen says that the Belgian Gaming Commission does what it can, but that it lacks resources. With some 500 websites blacklisted, monitors of the market like Yield Sec cite over 2,200 illegal operators in the country.

To remedy this, says Mewissen, raising consumer responsibility and awareness rather than focusing on imposing restrictions is key. It’s a task for local regulators, who need to approach the issue with nuance but not offer such restrictive regulations that they deter players from legal sites.

Click here to read more on Mewissen’s interview and how he thinks the industry should tackle the black market in iGaming.