Gamlinked November 2024
By Thadeus Geodfrey
At Gamlinked, we’re your go-to source for timely and insightful gambling industry updates. From new online casinos and partnerships to regulatory milestones, we objectively follow developments to keep you informed. And this November edition is no exception. We kick off with some game-changing headlines. It’s a packed report, highlighting how the industry balances profitability with player safety and ethical gaming.
Topping the news is minimum bet sportsbook SpeedyBet’s debut in Spain, backed by iGaming giants Yggdrasil and Paf Group. Irish gamblers have new standards in responsible gaming, thanks to pioneering regulatory reforms. In addition, the country just got its first specialized gambling treatment centre in Galway. In South Africa, the gambling industry is thriving, with revenue soaring to new heights. Meanwhile, Malta and the UK are collaborating to enhance global regulatory standards.
With these and more, welcome to Gamlinked’s November edition as we cover recent industry milestones.
SpeedyBet enters Spain and partners with Yggdrasil and Paf Group
Yggdrasil has partnered with Paf Group to support the launch of SpeedyBet in Spain. This partnership adds to Yggdrasil’s growing footprint in the Spanish iGaming sector. For SeedyBet, it’s an opportunity to establish itself in the market as a leading operator.
“The Spanish market is a key growth area for us,” said Yggdrasil’s Commercial Director, Jose Kadala. “We are confident our games will help SpeedyBet establish itself as a leading operator.”
According to the partnership, SpeedyBet will feature Yggdrasil’s games. That means SpeedyBet players will now access popular slot games, like Valley of the Gods 2, on the platform. Yggdrasil expands its operations in regulated European markets and such a partnership is part of its broader strategy.
The Paf Group, known for its Paf.es brand, acquired SpeedyBet in 2021, and the Spain launch leverages its established success in the region.
Cristina Sebastian, Paf’s Country Manager for Spain, didn’t reserve her excitement.
“Yggdrasil’s reputation for high-quality slots aligns perfectly with our mission to provide a thrilling experience for our players,”
Said Cristina Sebastian
With 27 companies and 37 licensed brands in the region, SpeedyBet needed a strong partnership to stand out. Yggdrasil’s innovative gaming content is the wildcard the gambling site needs for its new audience. Paf’s experience and Yggdrasil’s extensive slot portfolio, are a huge plus for SpeedyBet. Don’t you think so?
Galway in Ireland introduces new gambling treatment facility
Are you in western Ireland, Galway in particular, and struggling with problem gambling? Don’t worry anymore. Cuan Mhuire, Ireland’s leading provider of addiction treatment, is in town. It has expanded its gambling addiction services with a new residential facility in Coolarne.
Funded by GamblingCare, this new facility is a response to the rising demand for specialized treatment in western Ireland.
Cuan Mhuire’s partnership with GamblingCare began in 2020. They initially launched programs in Athy and Bruree, which have assisted hundreds of individuals and families.
While expressing pride in the partnership’s achievements, the CEO of GamblingCare Pam Bergin noted the impact of this partnership.
“We are very proud of what we have achieved with Cuan Mhuire,” she explained. ” We are introducing the first bespoke gambling residential treatment programmes in Ireland.”
GamblingCare Brand Ambassador Oisin McConville reflected on his own recovery journey at Coolarne.
“This is a particularly poignant occasion for me, as I received my treatment here in Coolarne almost twenty years ago,” he said. “I am eternally grateful for the support I received and can’t express how satisfying it is to support the opening of this specialist programme for gambling addiction.”
Gerry McElroy, Chairperson of Cuan Mhuire, also emphasized the importance of the new facility in Coolarne, Galway.
“With more people seeking help for gambling addiction, Cuan Mhuire offers an evidence-based program. All staff are trained with the latest knowledge on gambling addiction treatment,” he said. “The funding from GamblingCare has allowed us to provide the best support for those healing and recovering.”
Cuan Mhuire is Ireland’s largest provider of voluntary addiction treatment services. But now they have a new residential treatment service for gambling addiction at their Coolarne facility funded by GamblingCare.ie.
Gambling revenue in South Africa skyrockets
South Africa’s gambling revenue in the 2023-24 financial year grew by 25.7% to hit $3.37 billion. Player spending also reached $65 billion, an all-time high, surpassing the previous year’s existing record by 40.2%.
According to the National Gambling Board, sports betting remained the primary revenue driver. It generated ZAR35.91 billion, which is a remarkable 51.2% year-on-year increase. This is 60.5%, of all revenue. It’s online betting driving this growth, contributing ZAR28.97 billion, which is 49% of the total gambling revenue.
But, the growth in gambling is not evenly distributed. Some activities saw minimal growth. Casino revenue reached ZAR17.36 billion, thanks to low deposit casinos, while bingo showed a modest increase. But Limited Payout Machines (LPMs) revenue saw a slight decrease.
Gambling laws played a critical part in this growth. The image is clear if you break down the numbers by region. Western Cape province benefited from the legal online betting options and led in revenue generation. It has options that remain limited to certain provinces. Gauteng also did well. Mpumalanga recorded the highest total wage but ranked third in revenue.
The South African Revenue Service also benefited from the growth in gambling revenue, collecting ZAR4.84 billion. Half of this amount came from sports betting. Doesn’t that highlight the significant impact of online betting on the country’s tax income?
Provinces like Mpumalanga, Northern Cape, Western Cape, North West, and Limpopo, which have legalized sports betting, are reaping the rewards. Provinces that have yet to legalize it are missing out on a valuable revenue source.
Ireland passes new bill for gambling regulation
There’s a major legislative shift in Ireland after the country passed the Gambling Regulation Bill 2022. The bill, now approved by both Houses of the Oireachtas, seeks to modernize gambling oversight. It establishes an independent regulatory agency, the Authority of Ireland (GRAI) or Údarás Rialála Cearrbhachais na hÉireann whose mandate is to streamline gambling licensing and regulatory framework. Its work covers both the physical and online gambling sectors.
This is a significant leap as it will allow the country to regulate its gambling sector. James Browne, Ireland’s Minister of State at the Department of Justice, expressed pride in the bill. He emphasized its role in modernizing Ireland’s gambling regulations and addressing the challenges of digital gambling.
Bowne lauded the new framework terming it as tailored to meet the challenges of gambling in the 21st century.
The legislation includes several key safeguards. Notably, there’s the National Gambling Exclusion Register and tighter restrictions on gambling advertisements. These regulations underscore the country’s focus on public health and safety.
The Gambling Regulation Bill 2022 introduces key measures to ensure safer gambling practices. GRAI will enforce strict standards, issue licenses, and penalize illegal gambling. To protect vulnerable individuals, the bill includes a National Gambling Exclusion Register for self-exclusion. Also, it includes strict advertising limits to reduce exposure to gambling ads.
To address problem gambling, the law creates a Social Impact Fund, financed by fees collected from the industry. The fund will support problem gambling treatment and research.
The law commits to protect at-risk individuals by reducing exposure among vulnerable groups. As such, it implements strict measures against illegal gambling. This includes provisions for potential custodial sentences for serious violations. It also enhances protections against unlicensed operators by imposing penalties. This not only curbs illegal gambling activities but also protects consumers from fraud.
The CEO designate of GRAI, Anne Marie Caulfield, explained that the authority’s initial focus will be on licensing. It will roll out the other functions in phases
“We will have a phased introduction of our functions,” she noted, “while also fulfilling our mandate to address problem gambling.”
The GRAI will receive €9.1 million from Ireland’s 2025 budget. This allocation will include €4 million for technology investments, allowing it to begin its work in stages as soon as it has a board in place.
Another unique aspect of this bill is it seeks to establish a European benchmark for responsible and ethical gambling. This is to enable balancing individual freedoms with rigorous protections against gambling-related harms.
This legislative reform reflects that it was necessary considering the growth of digital gambling. There’s no doubt it establishes a robust framework for ethical gambling practices in Ireland.
Openbet partners with Bandbet to enter the Brazilian market
OpenBet together with Bell Ventures Digital has launched BandBet, a new sports betting and iGaming platform in Brazil. This venture, backed by the prominent Grupo Bandeirantes de Comunicação (Band), one of Brazil’s largest media groups will see BandBet claim a stake in one of the world’s largest sports betting markets.
Brazil is one of the countries gambling has grown unregulated and the government is playing catch up. Many of the country’s online gambling service providers are largely unlicensed and so they remain unregulated because this era of gambling regulation is still in its infancy stage in the country.
The Brazilian Senate passed gambling regulations for sports betting and online casinos in December 2023. Before then, the country had no enforceable or documented gambling regulations. In essence, there was no formal legal framework governing gambling activities. And now, operators are working to align themselves with the new paradigm shift.
As the country’s regulatory framework takes shape, many top online casinos and sportsbooks have been rushing to claim a stake in the market. BandBet’s entry adds a new However, powered by its advanced technology, it’s definitely a big deal.
The collaboration with OpenBet provides BandBet with an extensive betting and gaming ecosystem. That includes Player Account Management, BetBuilder, Responsible Gaming Technology, and Managed Trading Services. Brazil’s regulatory and responsible gaming standards also require anti-money laundering and player protection tools. These services will be provided by Neccton. On top of this, BandBet will also enjoy a geolocation solution powered by Amazon Web Services for compliance.
Ricardo Bianco Rosada of Bell Ventures praised OpenBet’s proven track record in global betting. Highlighting OpenBet’s integrated system, saying the system was a plus for a regulated, competitive market.
OpenBet CEO Jordan Levin on his part acknowledged the opportunity to deliver a premium player experience. He said he was optimistic to establish BandBet as a leader in Brazil’s emerging gaming industry.
Bell Ventures has also applied for a federal license with the Ministry of Finance, aiming for approval by year-end. Brazil’s rapidly expanding online gaming market will benefit significantly from this OpenBet and Bell Ventures partnership.
UKGC’s New Partnership to Regulate Global Gaming Industry
Malta, a global gambling hub, and the UK, the world’s largest regulated gambling market, have partnered. The Malta Gaming Authority (MGA) and the UK Gambling Commission (UKGC), these two countries are doing so to enhance global regulatory standards. They have strengthened their collaboration by formalizing a Memorandum of Understanding (MoU).
The agreement marks a pivotal step for both regulatory bodies. At the top of their agenda is enhanced consumer protection. They are seeking to combat criminal activity and reduce gambling-related harm. With the UKGC as one of the most respected licensing authorities and the MGA as the most popular among providers, this partnership promises a more effective global gaming industry.
The MoU facilitates streamlined information and intelligence sharing. Such an arrangement will allow the MGA and UKGC to address regulatory challenges more effectively. Both authorities will benefit from the exchange of best practices. The greatest beneficiaries of this partnership will be players through enhanced protection and improved regulatory frameworks. Due to the cross-border cooperation in this increasingly interconnected industry, such a partnership is a necessity. It will help each organization adapt to the evolving market landscape.
UKGC CEO Andrew Rhodes has warmly welcomed the partnership. According to him, this MoU solidifies their long-standing collaboration, which has already produced meaningful results.
Rhode’s sentiments were shared by Charles Mizzi, MGA CEO.
“Following our successful visit this summer, ” said Charles Mizzi. “It is only fitting that we formalize our working relationship.”
Regarding regulatory goals, the MoU will allow the MGA and UKGC to pool resources to address key issues. The critical matters on the table include anti-money laundering (AML) and sports betting integrity. They are uniting their efforts to weed out crime in gambling activities to maintain high industry standards.
Rhodes further noted that the UKGC is eager to explore additional collaborative initiatives. He suggested regulatory shadowing, to effectively tackle these common challenges.
Both the MGA and UKGC have shown a strong commitment to uphold and elevate regulatory standards in the gaming industry. They have a razor-sharp focus on player protection and responsible gambling practices on a global scale.
Closing Remarks
Pivotal moves in November include SpeedyBet’s expansion in Spain, Ireland’s strides in responsible gaming, and South Africa’s record-breaking revenue. All these point to a sector pushing for both growth and accountability. We will be keeping an eye on these stories and more as they unfold. That’s a wrap from us here at Gamlinked. But stay tuned as we follow these stories and more insights into the gambling industry. Let’s meet in our next edition of the Gamlinked news roundup.