August 2021

Annuity lotteries: will they take off in Europe?

first_img Over the last five years Camelot has done little to ingratiate itself with lottery players. First it doubled the price of National Lottery draws to £2 in 2013, then it slashed the odds of winning by increasing the number of balls back in 2015.Throw in the increase in the price of EuroMillions tickets in 2016 and increased competition from more innovative operators such as the Health Lottery and Lottoland, and it’s hardly surprising the incumbent operator has experienced a steady slump in sales.The 2017/2018 financial year saw something a turnaround, which even Camelot wasn’t expecting if comments made by its CEO Nigel Railton are to be believed. It had already taken some action to reverse the decline in sales following its strategic review last year and earlier this month it announced some further tinkering around the edges of the main games.More interestingly, however, it also announced the planned launch of an annuity game next spring. Though it hasn’t divulged much detail on the proposed product, it says the top prize is likely to be “thousands of pounds every month for at least 25 years”. Although Camelot says the game is an “entirely new proposition” to its portfolio, it acknowledges it isn’t a new concept.“We’ve been closely examining what is done in other countries where this type of game is hugely popular – particular in the US and Australia,” says James McGrath, communications manager at Camelot. “These types of games appeal to people who dream of lifelong financial security. This is why we believe it will round off our portfolio perfectly, enabling winners to benefit from a regular, fixed amount of money over a set number of years.”Playing catch-up While the forthcoming game may be the first in the UK from an official lottery, both Lottoland and Zeal Network’s MyLotto24 already offer punters the chance to bet on US annuity lottery Cash4Life, with a top prize of £1,000 per day for the rest of the winner’s life. “This is not innovation from Camelot, it is them playing catch-up,” comments Nigel Birrell, CEO of Lottoland.The question is, could an annuity lottery allow Camelot to catch up when it comes to where it wants its sales to be? Indications from the secondary lottery providers are promising.Lottoland was the first secondary lottery operator to offer bets on Cash4Life in the UK, launching its product back in April 2016. Of its performance so far, Birrell says: “Cash4Life is one of our consistently steadily performing jackpot offerings, not as popular as our leading products but definitely a core part of our overall product portfolio.”MyLotto24 began offering bets on the lottery in the middle of last year. Blerina Essen, managing director of MyLotto24, says it is also happy with its performance so far. “It is a very good product, it is growing very much organically — we are already in multimillions in revenue and we are increasing double digits in month-on-month growth.”Interestingly, she says most of the customers betting on Cash4Life with MyLotto24 are using subscription products, suggesting it may attract a more loyal following than lump sum jackpot draws, which many only play when the prize has reached a certain level.Millennial magnet? There’s also a possibility annuity lotteries could help attract more of the much-coveted millennials. “Those at the younger end of the spectrum see the value in winning £1,000 per day for life,” says Birrell. “If you take a 25-year-old and take the average life expectancy of 80 years, they would win over £20m over their lifetime.“Not surprisingly those in the age brackets 18-23 and 24-30 over-index against the average lottery demographic and our silver surfers under-index here.”Indeed, when a Canadian woman won a lottery draw she entered to mark her 18th birthday in March this year, she made international headlines after being given the choice of a $1m lump sum payout or $1,000 per week for the rest of her life – many North American lotteries offer the choice of a lump sum or an annuity. She chose the weekly sum after taking advice from a financial adviser. Financial security is a big attraction for players of all ages, says Essen. “It doesn’t change your lifestyle as much as a big jackpot, but you have that cash comfort, that is why people like it.“When you win 100m or something like that, you could blow it away as some people don’t manage money that well. Therefore people prefer to have this comfort that they can still have their own lifestyle, but maybe have a different job or have their own company.”Birrell adds that Cash4Life also has better odds than many other games. “As Cash4Life has a format of match five from 60 and then for the CashBall one from four, the odds to win the jackpot are very attractive at one in 22m – that’s more than twice as good as UK Lotto at one in 45m and substantially lower than the pan European giants — one in 139m of the EuroMillions or one in 95m on the EuroJackpot.”Many a cynical commentator has also noted that annuity winners are able to largely avoid the demands for money that lump sum winners tend to attract from long-forgotten friends and family.It seems then that for a variety of reasons, annuity lotteries do appeal to a certain group of players. But whether or not Camelot’s offering will be a success remains to be seen.If it is, a likely side effect will be an uptick in sales for secondary lotteries. Although they will not be able to offer bets on Camelot’s product, the increased awareness of the annuity concept among UK and European players — an annuity lottery has also recently been launched in Germany — will probably see more players wanting to place bets on products such as Cash4Life.“Definitely we will get quite a lot of sales from it,” says Essen. “The products that are pushed through external advertising perform much better than other products that are not as known in certain countries.”She highlights Australia, for example, as one of the areas where Cash4Life has been particularly popular with MyLotto24 players, which she puts down to annuity lotteries being offered by official lotteries in Australia.Another bonus for the secondary lotteries is insurance savings – neither Lottoland nor MyLotto24 insure bets on the products, presumably because the winnings are easily able to be paid from their profits in the relatively unlikely event of a winner, although it’s worth mentioning that MyLotto24 had a second prize winner — who receives £1,000 per month — on Cash4Life in the first week it offered the product.As well as alienating players with its game changes in recent years, Camelot has also cultivated a rather hostile relationship with secondary lottery operators. Ironically, in this latest attempt to appease the former it may well be the case it ends up providing a boost for the latter.Related articles: Camelot pledges higher prize payouts on National Lottery Camelot reveals record UK National Lottery digital sales Selling the dream: lottery providers cash in on jackpots Are experiences the key to getting millennials to play lottery? AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Joanne Christie explores the impact Camelot’s planned annuity lottery and the impact that paying out in instalments, rather than a lump sum, could have on the wider market 17th September 2018 | By Hannah Gannage-Stewart Lottery Annuity lotteries: will they take off in Europe?center_img Topics: Lottery Regions: Europe Subscribe to the iGaming newsletter Email Addresslast_img read more

FDJ privatisation to dominate gambling proceedings in France

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Address 2nd January 2019 | By contenteditor The French igaming sector has finally found an equilibrium of sorts after eight years of regulation. While the sports betting vertical has justifiably taken much of the plaudits for its strong growth over that period, measures implemented by the regulator and relevant stakeholders have also had beneficial effects on online poker and pari-mutuel horse racing, the other two regulated verticals in France.French regulator L’Autorité de régulation des jeux en ligne’s (ARJEL) most recent figures for the third quarter confirmed these trends. Online sports betting continued to grow, with gross revenue up 40% to €149m during the period. Pari-mutuel horse racing revenue was up 6% to €63m, while long-term trends for online poker were reversed with a 3% rise in to €59m, with cash games stakes up 13% to €1bn and tournament entry fees up by 7% to €528m. The vertical benefitted from the pooling of liquidity with Spain and Portugal, which launched early in 2018.           But as with any evolving market, there are a number of underlying trends and issues the industry wants to see resolved so it can develop on a more secure footing.For France, these are the privatisation of the state lottery monopoly Française des Jeux (FDJ), which in turn prompts further debate around the state’s role as a stakeholder in FDJ. The privatisation could have further-reaching effects on the industry, leading to an expanded remit for iGaming regulator ARJEL, and could see a case made for a reform of the current online gaming tax rate, as well as regulation of the online casino vertical.The FDJ privatisation is the dominant gambling theme in France currently, and this is likely to continue for the foreseeable future. It will also determine the environment in which the online operators will work because the three other themes mentioned above in some capacity will flow from the project.   FDJ’s privatisation has been in the offing for some time and has had a number of false starts, but is likely to go ahead this time as the government puts in place the legislative tools to make it happen.The country’s National Assembly adopted the privatisation bill during a first reading in October, with the authorities confirming that the state would maintain a 20-25% stake in the privatised entity. This engagement on the part of the French state in a newly-privatised FDJ, whether it happens via a float on the stock exchange or opening it up to investment groups, raises a number of issues for French online gaming operators such as ZETurf, NetBet and Betclic Everest Group.Emmanuel de Rohan Chabot, founder of ZETurf and chief executive of French igaming trade body the Association Française du Jeu en Ligne (AFJEL), told iGaming Business: “The project raises a number of key issues for our members. Among them are the fact that the state will be a gambling stakeholder in a majority private gambling operator. It also acts as a regulator and collects the taxes that we generate.“There are a number of conflicting interests that worry us with regard to its mode of operation and how it could decide on regulatory matters.”Also in October, France’s National Audit Office (Cour de comptes) and MPs recommended that regulation of the entire gambling sector be brought under the control of one regulator; the idea being that igaming regulator ARJEL’s remit would be expanded.The government has agreed to a new regulator, but rejected relinquishing the Home Office’s oversight of land-based casinos, citing the risks of money laundering linked with the sector. FDJ, meanwhile, is not enthused by the prospect of no longer being regulated by the Treasury, fearing it would dilute its influence over any regulatory changes. Which is why for AFJEL and its members, it is imperative that regulation be brought under one authority.The other key AFJEL demand is that regulation applies equally to them as it does to FDJ; in particular games that are branded as lottery should be renamed as scratchcard or instant win products, which many believe is a more accurate description of the games.As for the long hoped-for taxation change to a gross profits-based system and potential regulation of the online casino vertical, these are not going to happen in 2019, ARJEL president Charles Coppolani told iGaming Business.   This is mainly because of the ongoing FDJ privatisation project, but also because after eight years of regulated activity operators have adapted to their working environment, although their key demands remain.And with societal upheavals such as the recent protests by the so-called gilets jaunes, the French government has other priorities that it needs to address urgently.All these topics will be debated when France’s parliament resumes in 2019. Meanwhile private operators, regulators and politicians will continue to try to steer a course that enables the sector to grow, while keeping the country’s historic stakeholders happy and maintaining a level of tax revenues that the state is satisfied with.          But for all the regular complaints to come out of France with regard to how its igaming sector is treated by the authorities, the reality is that it remains a market with substantial growth potential.All these factors will be analysed in further depth in the forthcoming iGB France e-zine due to be published in February. Subscribe to the iGaming newsletter French market growth and calls for tax rate changes will be overshadowed by speculation over FDJ privatisation in 2019, writes Jake Pollard FDJ privatisation to dominate gambling proceedings in France Legal & compliance Topics: Legal & compliancelast_img read more

Mobile Dashboard – February 2019

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter H2 Gambling Capital and iGaming Business are pleased to bring you the February 2019 Mobile Dashboard.The Mobile Dashboard is your monthly overview of the mobile sector in numbers and enables you to follow the evolution of mobile from 2003 with projections up to 2023.As the charts show, mobile gross win has not only grown aggressively since 2003, but its percentage of overall igaming win has also risen rapidly, particularly over the past five years.H2 predicts mobile will account for more than 52% of igaming gross win by 2023, though many operators are already reporting that more than 50% of their revenue comes from the mobile channel, particularly when it comes to sports betting. As the doughnut graph shows, 67% of mobile revenues come from sports betting.Interestingly, while by region Europe takes the bulk of global mobile revenues, Asia and the Middle East has a higher percentage of its region’s gross win coming from mobile. This is likely to be due to the fact that in some countries, particularly those in Asia, fixed line broadband was slow to develop and many users skipped desktop altogether and adopted mobile as their first internet device.H2 Gambling Capital is the gambling industry’s leading consulting, market intelligence and data team. The company has a track record of nearly 15 years focused on the global gambling industry, its projections have been influential in shaping legislators’  and investors’ views of the gambling sector across the globe. Mobile Dashboard – February 2019 Subscribe to the iGaming newsletter Regions: Africa Asia Europe LATAM US North Africa & Middle East Topics: Casino & games Finance Lottery Sports betting Bingo Poker H2 Gambling Capital and iGaming Business are pleased to bring you the February 2019 Mobile Dashboard Bingo Tags: Card Rooms and Poker Mobile Online Gambling 8th February 2019 | By Joanne Christie Email Addresslast_img read more

Don’t call it a comeback: Part 1

first_img Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Casino & games People Strategy Don’t call it a comeback: Part 1 When Pontus Lindwall stepped back into the Betsson CEO role in 2017, the company was struggling, with growth slowing and costs rising. Fast forward to 2019 and it has just reported record revenue for the final quarter of 2018, and looks to be in better health than ever. Here he explains how he successfully got the business back on track.“It’s been a fantastic year,” Pontus Lindwall says, looking back on Betsson’s 2018 performance. “It’s been a year of transformation for the company. We’ve been working really hard internally to improve our performance and increase efficiency, and I think we’ve come a long way on that.  “Obviously we’ve had three quarters out of four with a really good financial performance as well, including all-time highs and strong EBIT margins, so also from that perspective it’s been a great year.” Lindwall is now in his third stint as Betsson chief, having served as its chief executive from 1998 to 2011, after the business was spun off from his previous employer, Cherry. He then returned when his 2011 replacement, Magnus Silfverberg, departed for a role at decision support solutions provider Bisnode, and served as interim CEO from July 2015 to February 2016, when Ulrik Bengtsson was appointed to the role. Following Bengtsson’s abrupt departure in September 2017, he took charge of the business once again.  However, the business he took over in 2017 was far removed from the one he had left the year before. Months after he returned to the CEO role, the operator reported a 26% decline in net income for the third quarter of the year. “Despite a good finish to the quarter, we are not satisfied with the overall growth in the quarter and Betsson has taken action to improve performance,” Lindwall said at the time. He cited the poor performance of the UK-facing NetPlay TV as a key reason behind the company’s struggles, and suggested the business needed streamlining in order to ensure that the decline in profit did not continue. Industry commentators have since suggested that the company’s M&A activity between 2011 and 2017 had caused the business to lose focus, as well as adding multiple complications to an already-complex business running a multi-brand strategy across a number of markets. In that six-year period Betsson acquired nine businesses, shelling out €451.5m in total, taking on board operations running in a diverse range of platforms and managed by different teams. Lindwall admits that just one acquisition is a major undertaking for any business. “On a general note, when you acquire companies and add pieces to the business it takes a lot of effort, in terms integration,” he says. “There are a lot of things that need to be done. If that takes up energy within the organisation it’s natural that you have less focus on the core business.” He says that this informed a key part of his strategy to get the business back on track. The so-called ‘back on track’ plan saw Betsson shelve all M&A projects for the duration, in order to shift the focus on the company’s inner workings. Around 160 employees were also laid off, which Jesper Svensson, CEO of the operator’s Malta subsidiary, attributed to the company’s rapid acquisition strategy. Despite this, Lindwall says acquisitions will remain a key part of Betsson’s strategy going forward, supporting its organic growth.  Back on track The back on track strategy was launched shortly after he took over as CEO in 2017, beginning with an analysis of the company. “We found things that we wanted to change in many different areas,” Lindwall notes.  He says it wasn’t entirely clear where the problems lay, and what needed done to solve them: “When you do [projects] like that, [there are] some things you’re convinced that if you change it, it’ll get better, in other areas it’s more a feeling.” It’s worth noting that the history of the igaming industry is littered with companies that grew rapidly through mergers and acquisitions, then struggled to piece all the parts into a coherent whole. is probably the first that comes to mind, though others such as Betclic Everest Group and even The Stars Group – before the change in management, when it was still under the Amaya brand – had a tough job ensuring everything clicked into place. Key to ensuring Betsson did not fall into the same trap as some of its peers was a focus on its core platform, one that Lindwall describes as “really powerful”. However, he adds, the operator is not slavishly devoted to having everything running off a single, central system.  “We’d rather look at what is best for the customers,” he says. “A local platform in a certain market may have functionality we don’t have.” Another key feature of the companies that have failed with integrations and managing M&A-related growth is the time it takes for the benefits of their turnaround strategy to be felt. For Betsson, this was not the case.  “After two months we could see the first signs of improvement, then things kept improving,” Lindwall says. “I think we can say we are back on track now.” However, he adds, the back on track plan is not yet complete; it will continue to be implemented until the end of Q1 2019, at which point it will be shut down. There will, of course, be other initiatives that will start immediately as it ends, but Lindwall says it is important to have clear breaks between different strategic projects. “[When] you run a project that is quite intense, it’s fair to give the participants a firm start and end date and period for evaluation,” he says. “Even though the project is made up of hundreds of initiatives and not all of them will be finalised. It’s nice to shut down the project, evaluate, look at what was good, what wasn’t, then restart other projects.”In the second part of’s interview with Pontus Lindwall, published tomorrow, the Betsson chief executive discusses the next steps to further improve the performance of certain acquired assets, and plans for expansion into new markets. Regions: Europe Nordics Southern Europe Sweden Malta Casino & games 13th March 2019 | By contenteditor Tags: Mobile Online Gambling When Pontus Lindwall stepped back into the Betsson CEO role in 2017, the company was struggling, with growth slowing and costs rising. Fast forward to 2019 and it has just reported record revenue for the final quarter of 2018, and looks to be in better health than ever. Here he explains how he successfully got the business back on track.  Email Addresslast_img read more

NetEnt blames Nordic struggles as revenue dips in first half

first_img Casino games supplier NetEnt has put a year-on-year decline in revenue and operating profit in the first half of 2019 down to ongoing weak development in Nordic countries, again citing Sweden as a market of particular concern.Revenue for the six months through to June 30, 2019 amounted to SEK837m (£71.7m/€79.8m/$89.6m),, down 3.4% from SEK867.3m in the corresponding period last year.NetEnt said that this decline was down to a weak performance across the Nordic region, primarily in Sweden. In that market, NetEnt saw player numbers fall and reported a lower average revenue per user (ARPU) since new regulations were introduced at the start of 2019.Outside of Sweden and NetEnt saw more success, with revenue from its activities in regulated markets up 1.7% year-on-year in the second quarter. In total it generated 49% of revenue from locally regulated markets in the second quarter.NetEnt signed 16 new licence agreements during the first half and also launched casinos with 19 new customers.The supplier was able to slightly cut overall spend in H1, with expenses down from SEK584.4m in the first half of 2018 to SEK581.4m. This was mainly due to a decrease in personnel expenses, which fell from SEK268.3m to SEK248.5m.Other operating expenses also fell from SEK214.7m to SEK191.5m, but costs related to depreciation and amortisation were up year-on-year from SEK101.m to SEK141.3m.Lower revenue during the first half led to a decrease in operating profit, with the SEK256.1m posted for the six-month period down 9.5% from the prior year.Profit before tax also slipped from SEK209.7m to SEK261.8m. Despite paying less tax of SEK21.6m compared to SEK24.6m last year, profit for the period declined 15.8% to SEK240.2m.For the second quarter of NetEnt’s financial year, ended June 30, 2019, revenue was down 4.1% year-on-year at SEK419.4m. Increased depreciation and amortisation costs saw total operating expenses rise marginally to SEK289.3m, leading to operating profit declining 12.6% to SEK130.0m. While the operator saw profits boosted by financial income, its post-tax profit was down 13.9% at SEK119.9m. Reflecting on the results, chief executive Therese Hillman said both quarters of the first half were similar in terms of operating performance, with revenue and profit down in each quarter due to regulatory headwinds in the Nordic markets.However, Hillman (pictured) remains optimistic about NetEnt’s future, saying that the supplier continues to invest in long-term growth.“Now we take the next step in developing our technical platform as we are creating an open platform with new types of functionality and aggregation of third-party content for operators, services that will be launched on a broader scale during 2020,” Hillman said. “The transformation of live casino continues at full speed and we added several new functions during the quarter to make our product more competitive. The customer response is positive, and we expect growth in the coming quarters from this segment, but it will take a few more quarters before we can see more meaningful revenues.“The industry is going through significant changes, and we see opportunities to strengthen our position in all our markets. Through our strategy to invest in increased game production, a technical platform featuring more functionality, and live casino – supported by our brand, global distribution and customer relations – we have the right basis to defend, and over the longer term increase our market shares.” Casino & games 12th July 2019 | By contenteditor Tags: Online Gambling Casino games supplier NetEnt has put a year-on-year decline in revenue and operating profit in the first half of 2019 down to ongoing weak development in Nordic countries, again citing Sweden as a market of particular concern. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwittercenter_img NetEnt blames Nordic struggles as revenue dips in first half Email Address Subscribe to the iGaming newsletter Topics: Casino & games Financelast_img read more

FSN secures investment from Stars Group veterans

first_img Email Address 16th June 2020 | By Conor Mulheir FSN secures investment from Stars Group veterans DFS Regions: LATAM US Subscribe to the iGaming newsletter Digital sports media group Futbol Sites Network Group (FSN) has joined forces with highly experienced gaming executives Jordan Gnat, Robin Chhabra and Andy Clerkson, in a bid to expand the network’s global reach. Tags: Fantasy Sports Topics: Sports betting DFS Digital sports media group Futbol Sites Network Group (FSN) has joined forces with highly experienced gaming executives Jordan Gnat, Robin Chhabra and Andy Clerkson, in a bid to expand the network’s global reach.The group owns and operates more than ten sports websites, aimed at sports fans in Latin America, and in Hispanic communities across the USA.Together, Gnat, Chhabra and Clerkson have acquired a significant interest in the group, and Gnat has been appointed vice-chairman. He previously served as group senior vice president of The Stars Group, where Chhabra also sat on the executive committee, before becoming chief executive of the Fox Bet joint venture with Fox Sports.Clerkson, meanwhile, was a key figure in helping The Stars Group and Fox Sports set up that joint venture, which is now available to customers in states such as New Jersey and Pennsylvania.“I am honoured that [FSN] have chosen me, Robin and Andy to be part of their winning team,” Gnat said. “We look forward to bringing our over 60 years of combined sports, media and gaming knowledge and experience to the company.Federico Grinberg, chief executive of FSN, added: “With passion, focus and perseverance we expanded operations all across LatAm and the US. Now, we are ready to take the company to the next level by joining forces with Jordan, Robin and Andy.”“Having these three super stars as investors, and Jordan on our board, will help FSN expand its network as well as its global reach.”Read the full story on iGB North America AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitterlast_img read more

Stats Perform scores English and Scottish football data deal

first_img23rd June 2020 | By contenteditor Sports data specialist Stats Perform has agreed an exclusive official rights deal with Football DataCo to collect and distribute event data for all major English and Scottish football leagues. Email Address Subscribe to the iGaming newsletter Stats Perform scores English and Scottish football data deal Sports data specialist Stats Perform has agreed an exclusive official rights deal with Football DataCo to collect and distribute event data for all major English and Scottish football leagues.The agreement, which includes the English Premier League, will permit Stats Perform to deliver detailed data to media, fantasy, broadcast and professional teams around the world.Stats Perform will also be able to distribute official player tracking data to rights-holding broadcasters, as well as player market data to licensed sportsbook and daily fantasy operators, to power pre-game and in-play betting on player stats.The agreement also covers the distribution of artificial intelligence (AI) powered insight data to broadcasters and media. This will be developed via FDC Labs, a new partnership between Football DataCo and tracking technology specialist Second Spectrum.“We are honoured that our investment in collecting and distributing the fastest, most accurate detailed event data with the utmost professionalism has again been recognised by Football Dataco, and are excited to use our trusted data as the foundation to drive even deeper connections to some of the world’s greatest teams and players, through our FDC Data Labs partnership,” Stats Perform chief rights officer Alex Rice said.Football DataCo general manager Adrian Ford added: “Extending our partnership with Stats Perform was an obvious choice. The Opta data brand is strong and the business has a deep understanding of football, vital factors for our Leagues who want the best and most trusted data.“Stats Perform will build on these strong foundations and continue to drive innovation through our FDC Labs partnership, using data to tell new stories for fans who have an appetite for greater insight into the beautiful game.”Any Football DataCo data used for betting falls under an existing rights deal with Genius Sports Group. Signed in May 2019, the agreement gives Football DataCo exclusive rights to collect, licence and distribute live data from the UK’s leading football competitions.“It’s great to have Stats Perform inside the official data tent,” Genius Sports Group chief executive Mark Locke said. “This deal keeps official data at the heart of betting on UK football.”Stats Perform’s official media and betting data portfolio also includes a number of other major football leagues such as the Spanish La Liga, French Ligue 1, Major League Soccer in the US and an agreement with South American continental governing body Conmebol.center_img Topics: Sports betting Regions: UK & Ireland AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Sports bettinglast_img read more

HKJC boosted by international and online growth in 2019/20

first_img The Hong Kong Jockey Club (HKJC) recorded its third most successful season in history in 2019-20, despite the impact of the novel coronavirus (Covid-19) outbreak. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter HKJC boosted by international and online growth in 2019/20 Regions: China Hong Kong Email Address Subscribe to the iGaming newsletter The Hong Kong Jockey Club (HKJC) recorded its third most successful season in history in 2019-20, despite the impact of the novel coronavirus (Covid-19) outbreak.The body, which organises racing in Hong Kong and has a monopoly on pari-mutuel racing betting and overseas sport, said total racing turnover in the season that ran from 1 September 2019 to 15 July 2020 was HK$121.6bn (US$15.7bn/€13.8bn/£12.2bn).This marked a 2.6% decline from the previous season. While racing continued throughout the year despite the pandemic, the closure of retail locations placed significant pressure on domestic wagering in Hong Kong.The turnover on Hong Kong racing from domestic customers was down 8.3%, due to the effects of its 100 off-course betting branches being closed or operating on reduced opening from early February, and fans unable to attend the racecourse for almost half the season. However, HKJC said the closure of retail locations was mitigated by many customers switching online.The body said that while turnover dipped by almost 26% in early February, wagering rallied through the latter part of the season and climaxed with a record HK$1.6bn being taken in the season finale at the Happy Valley course on Wednesday (15 July). There was a slight increase in the number of local races year-on-year with 828 compared to 812 in 2018-19.Despite the impact of the Covid-19 outbreak on global sport, there was a 12.9% increase in domestic customer betting on overseas events, to HK$4.7bn.Total turnover from Hong Kong customers was down 7.5% to HK$98.0bn, but this was mitigated by the significant growth of international commingling agreements, through which people from around the world participate and bet on Hong Kong racing.Commingling turnover increased by 25.3% year-on-year to HK$2.36bn and made up 19.3% of turnover in 2019-20, compared to 15.1% in 2018-19. HKJC said it will expand the World Pool concept – which pools bettors from Australia, Canada, Europe, Singapore and the US – next season as it seeks to build on this international growth.“While we recognise that the coronavirus situation is an ongoing battle, and we must remain vigilant, I can say that it has been heartening to see the Hong Kong community pull together and play a crucial part in combatting its effects,” HKJC chief executive Winfried Engelbrecht-Bresges said. “The Hong Kong Jockey Club has been quick to reflect and enact those safeguarding measures and policies while continuing to race.“We are pleased to have been able to complete a full season but of course our prime focus throughout, and a real challenge, was to act responsibly to protect the public health and safety of our staff, customers and the wider community, at every turn, while at the same time balancing that with the desire for our sport to continue.” HKJC remains the city’s largest taxpayer and this racing season alone paid HK$12.1bn to the Hong Kong government, while a significant contribution, including special emergency Covid-19 funding support, has been donated to charity.Engelbrecht-Bresges added: “There was a compelling public interest element to our desire to continue racing through Covid-19, from Chinese New Year to the end of the season, during which time our tax contribution from racing was more than HK$6.2bn. This has enabled us to not only keep donations at last year’s level but also increase it due to our contributions via the Covid-19 Emergency Fund.“We are incredibly proud that the club could continue to make such a contribution and, the benefits of completing a full season will be felt by millions of people across Hong Kong over the coming months.” Tags: Race Track and Racino 16th July 2020 | By contenteditor Finance Topics: Finance Sports betting Horse racinglast_img read more

Delaware sports betting revenue up again in October

first_img20th November 2020 | By Robert Fletcher Sports betting Delaware sports betting revenue up again in October Topics: Finance Sports betting Revenue of $1.5m (£1.1m/€1.3m) was the highest since January of this year, before the novel coronavirus (Covid-19) pandemic hit the sector, and was by far the best performance since retail sportsbooks resumed operations in July. It also represented a 66.8% month-over-month improvement. Subscribe to the iGaming newsletter Players staked $8.9m in the four weeks to October 25, down 7.3% from $9.6m in the same month in 2019, but an increase of 22.0% on September this year‘s $7.3m handle. Delaware’s sports betting market posted its second highest revenue figures of the year to date in October, though this represented an 11.7% year-on-year decline.center_img Regions: Delaware Consumers in Delaware won a total of $7.2m from sports wagering during the month, placing 171,936 bets in the process. Delaware Park remained the market leader in October by reporting $829,438 in sports betting revenue, which was more than half of total monthly revenue in the state and almost double the $425,002 it generated in September. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Read the full story on iGB North America. Email Addresslast_img read more

World Cup 2019: Injured Richardson withdrawn from Australia squad

first_img ATP Tour Bett1Open 2021 Final: Liudmila Samsonova beats Belinda Bencic to clinch title Halle Open 2021 Final: Ugo Humbert defeats Andrey Rublev to become champion World Cup 2019: Injured Richardson withdrawn from Australia squad Football RELATED ARTICLESMORE FROM AUTHOR Tokyo Olympics: BCCI provides fuel in Indian Olympic flame, to contribute Rs 10 crore TAGSDavid WarnerICCICC World CupICC World Cup 2019ICC World Cup 2019 SquadsICC World Cup Australia SquadICC World Cup Australia team SquadSteve Smith SHARE SportSport News Sport News Euro 2020, Switzerland vs Turkey LIVE: Shaqiri adds another as Switzerland lead 3-1; Follow Live Updates Copa America 2021 COL vs PER LIVE: When and where to watch Colombia vs Peru LIVE streaming in your country, India, Follow live update Copa America 2021 Esports by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeSuresh Raina issues statement after arrest, says the incident in Mumbai was ‘unintentional’UndoPUBG Mobile Big Update : For the first time ever, India Government makes it official, ‘No Permissions to PUBG’UndoWrestler Murder Case: Sushil Kumar spotted hitting victim with sticks in exclusive video; WatchUndoBupa Team Support Physiotherapist, David Beakley, said: “This is obviously very disappointing news for the team and for Jhye, who has been exceptional throughout his rehabilitation process.  After his most recent assessment and attempting to bowl in the nets, it was clear that Jhye was not progressing as fast as required and therefore, in consultation with selectors, we made the decision to withdraw him from the squad.Also Read: India at ICC World Cup 2019: Squad, full schedule, tickets, timing- all you need…ICC World Cup 2019: 34 per cent new audience to attend gamesNew Zealand at ICC World Cup 2019: Squad, full schedule, tickets, timing- all you…ICC World Cup 2019: App for a fan’s all needs“Jhye will continue with his rehabilitation and we will look to resume bowling in the coming weeks. At this stage we are still hopeful that he could be available for the Australia A tour of England.”Kane Richardson has been called up to replace Jhye in Australia’s World Cup Squad.Squad: Aaron Finch (c); Usman Khawaja; David Warner; Steve Smith; Shaun Marsh; Glenn Maxwell; Marcus Stoinis; Alex Carey (v-c); Pat Cummins (v-c); Mitchell Starc; Kane Richardson; Nathan Coulter-Nile; Jason Behrendorff; Nathan Lyon; Adam Zampa.Also Read: ICC World Cup 2019: Star Sports lines up 10 broadcast sponsorsICC World Cup 2019: Kent RO Principal Sponsor of Sri Lanka teamICC World Cup 2019: Glenn Maxwell ready to revive floating role at CWC19ICC World Cup 2019: Warner should open with Finch in World Cup: Mark Waugh Sport News Copa America 2021 VEN vs ECU LIVE: When and where to watch Venezuela vs Ecuador LIVE streaming in your country, India, Follow live update Football Facebook Twitter By Kunal Dhyani – May 8, 2019 Tokyo Olympics: Dutee Chand, Hima Das among top athletes seeking direct Olympic qualification during IGP 4 Previous articleAfter IPL 2019 swansong Russell records his first song in HindiNext articleICC Cricket World Cup 2019: MS Dhon’s Performance and profile Kunal DhyaniSports Tech enthusiast, he reports on Sports Tech industry and writes on sports products. YourBump15 Actors That Hollywood Banned For LifeYourBump|SponsoredSponsoredUndoPost FunThese Twins Were Named “Most Beautiful In The World,” Wait Until You See Them TodayPost Fun|SponsoredSponsoredUndoDefinitionTime Was Not Kind To These 28 CelebritiesDefinition|SponsoredSponsoredUndoDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily Funny|SponsoredSponsoredUndoDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinition|SponsoredSponsoredUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStory|SponsoredSponsoredUndo Fast bowler Jhye Richardson has been withdrawn from Australia’s World Cup Squad as he continues to recover from the shoulder dislocation he suffered in the UAE in March.After a recent scan and testing with the team’s medical staff, it was determined that Jhye was not going to be ready to bowl at the level required for him to be considered for selection at the start of the World Cup. Latest Sports News Euro 2020, Italy vs Wales LIVE: Bale fires shot over the bar as Wales miss chance for equalizer; Follow Live Updates Football Viking Classic Birmingham 2021 Final: Ons Jabeur beats Daria Kasatkina to clinch title Sport News Share on Facebook Tweet on Twitter PUBG Mobile – Krafton IPO: PUBG Mobile promoters Krafton ready to break all records, aims 5 billion IPOlast_img read more