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Promoting Responsible Gaming a Must for 2023
2022 has been another good year for American gambling companies. More states have made sports betting legal and several have also gone across the border to launch in Ontario. Will 2023 be as good?
The new year is guaranteed an exciting beginning for American gamblers. After a long wait, legal sports betting will be launched in Ohio on January 1.
With a tax rate of 10% (far lower than the 51% in New York), the top gambling businesses are all ready to enter the Ohio betting market. That includes DraftKings, BetMGM and FanDuel. The long awaited launch comes just in time for the NFL play-offs and of course the Super Bowl.
That should guarantee a busy start for legal sports betting in Ohio. It won’t quite mirror that seen in New York when they launched mobile sports betting at the start of 2022. The frustration of not being able to legally place bets in Ohio will be over.
It’s not just the gamblers who will be relieved. It has been a frustrating time for the state with neighbors Pennsylvania, Michigan and Indiana already having made sports betting legal and receiving millions in tax revenue.
Gamblers in the state will be eager to place bets on teams such as the Cincinnati Bengals and Cleveland Browns. There will also be plenty of wagers on college sports too. The estimates are that there will be around $90 million in taxes earned per year from sports betting, particularly online.
No longer will gamblers have to use offshore sports betting sites, again denying the state of Ohio tax revenue. That’s one of the most important factors in the sports betting revolution that has been taking place in the US.
When gamblers were unable to legally bet on sport, they registered with offshore sites. The problem with this was the lack of protection for customers. Now that an increasing number of US states have made sports betting legal, it is a different story.
Customer protection is important because sadly there are still some rogue sites out there. They have welcome bonuses that are nowhere near as good as they look. Wagering requirements or odds restrictions can be so strict that it’s hard to withdraw any cash from the bonus received.
With gambling companies having to be licensed they cannot get away with such behavior. If they do, then they are in serious danger of losing the license they have been waiting so long to receive.
Another important area is that of responsible gaming. It is a worry that this new world of sports betting will lead to an increase in the numbers that become addicted to gambling.
Recently the leading gambling companies in the US agreed a 12-point pledge that sets up an industry benchmark re responsible gaming standards.
It’s an important step with the aim of ensuring that players are treated well. The main aims of the pledges are to produce a situation where online gaming is seen as fun and entertainment not a way of making money. It is important also to recognize the fact some players will develop problems and they need to be given support, particularly those who opt for self-exclusion.
The prevention of underage gambling is at the top of their pledges list. Others include having rules to games that are actually understandable. Online slots players will know that isn’t always the case.
Hopefully the pledges will see a safe gambling industry created in the US. Showing that the members of the industry can work together is important. There are still many states that are yet to make sports betting legal.
More will go down that route in 2023 but there are still several that are resisting the idea of doing so. The lure of tax revenue from gambling sites may become too strong for some states. If the industry can show that they wish to promote responsible gaming, then that will help persuade some states to take the plunge.
One area is ensuring that customers are given the message to only gamble what they can afford to lose. Equally important is that the gambling sites themselves take swift action when they see customers spending and losing high amounts.
In the UK, there have been cases where betting companies haven’t been doing this. The UK Gambling Commission have issued fines worth millions of pounds to companies such as Entain (who are also active in the US market) and 888 who have been guilty of allowing customers to bet far too much and not always question where the funds are coming from.
2023 looks like being another successful year for the US gambling industry. Betting sites know that this is an opportunity they cannot blow. Ensuring that they are seen as an industry that cares for its customers is a New Year’s resolution that has to be kept.
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A Decade in iGaming: From Newcomer to a CMO
Wow, time flies! Can’t believe it’s been ten years since stepping into the exhilarating world of online gambling – a field that initially seemed like a short-term stint quickly turned into a new-found passion.
Moving to Malta, and eventually finding a home in Tallinn, I’ve had the privilege to watch the highs and lows as well as the many progressions and transformations. Today, I am proud to form part of the Mr. Gamble team that is ambitiously expanding into new markets, and pushing the boundaries.
From Customer Support to CMO
My journey in iGaming kicked off in Customer Support at Betsson – a leap from my telecom sales management role back in Finland. While this move puzzled my family and friends alike, it was a necessary step. Over the months and years, I worked my way up through various roles including Affiliate Coordinator, Affiliate Manager and Head of Affiliates, learning the various intricate parts of the industry, while at the same time adapting to new technological changes.
One thing is for sure, the iGaming industry is a fast-paced one, and each role has helped me to thrive and adapt to the various changes. Flexibility is key when working in this industry.
Venturing into Entrepreneurship: My Own Affiliate Business
Following many years of corporate experience, I took the leap to start up my own affiliate business with the aim of creating my own business from scratch. Handling everything from SEO and content strategy to fostering brand partnerships and growth strategies gave me an overall view of the affiliate industry’s many complexities. This entrepreneurial journey instilled insight and resilience, especially in terms of the value of the diverse skill sets found within a team.
By 2023, I joined Mr. Gamble as CMO, bringing my own entrepreneurial experience into this company’s growth strategy. Drawing on my background in SEO, content management and brand development and alongside a knowledgeable team, we have successfully strengthened Mr. Gamble’s presence in established markets, while also setting our sites on new markets.
New Markets and New Possibilities
Since the online gambling industry is continually evolving and expanding, it also brings with it a surge in growth when it comes to new and emerging markets. While we have made huge strides in launching Mr. Gambe USA, we are also eyeing promising regions in Asia, Latin America and Africa, where digital adoption and regulations are evolving creating new opportunities.
As we continue to solidify our presence in the US, these emerging markets represent the next frontier.
An Ever-Changing and Evolving Gambling Industry
Over the past decade, the online gambling industry has quickly evolved from a somewhat fragmented field to a high-powered professional space. Conferences and expos, once informal gatherings have become hubs for talent.
Events such as SiGMA, SBC, iGB, NEXT.io and Hiphter Events today celebrate the progression of iGaming, while highlighting the various advances in technology and market inclusivity.
The shift toward hybrid work in recent years has also paved the way for industry shakeups. While digital operations are convenient, the importance of face-to-face meetings and connections remains. In an industry highly reliant and built on personal relationships, meeting in person strengthens partnerships and opens doors to new opportunities.
A Bright Future for Mr. Gamble
As CMO of Mr. Gamble, I along with the team are committed to expanding our brand’s influence, not only in traditional markets, but also in new and emerging ones. iGaming is constantly evolving and our strategies must evolve too, adapting and driving on the windy road to success. This entails adapting to changes in technology, user behaviour and experience, and most importantly navigating regulatory landscapes.
Of course, Google’s frequent algorithm updates keep us our our toes, pushing us to refine our approach to stay competitive and ever more relent.
Reflecting on the last 10 years, I am energised and optimistic for the future. With a talented team and untapped markets in tow, Mr. Gamble is well-prepared for substantial growth and impact. Here is to the journey ahead and to everyone – mentors, peers, and friends who have been part of this rewarding path. The next decade holds great potential, and I look more than forward to what is yet to come.
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MAJOR LEAGUE BASEBALL SELECTS SPORTRADAR TO TRANSFORM PLAYER TALENT SCOUTING FOR ALL 30 CLUBS
Sportradar today announced a multiyear agreement with Major League Baseball (MLB) to offer unparalleled sports performance analysis of amateur baseball prospects, through its Synergy Coaching and Scouting solution, to the league and its 30 Clubs. This new partnership will revolutionize player talent scouting through Sportradar’s advanced, proprietary technology and highlights Sportradar’s commitment to delivering innovative and game-changing solutions to the league.
Under the agreement, MLB and its 30 Clubs will gain access to an unprecedented depth of player analysis and insights with event coverage expanding significantly, from 3,300 to more than 20,000 games – an over 600% increase. This includes college, international, professional partner leagues and leading amateur leagues, such as the MLB Draft League, the Appalachian League and MLB Develops events, and, for the first time, top high school events.
The Synergy Coaching and Scouting solution is uniquely positioned to address the player evaluation needs of MLB as it leverages Sportradar’s expertise ingesting and transforming millions of data points from video into detailed metrics, actionable insights and dynamic visualizations. This, combined with Sportradar’s AI-powered sports performance technology, enables Synergy to provide unparalleled, in-depth analysis of every player, play and game situation, and equips MLB and Club scouts with the information and insights they need to streamline the evaluation process, guide draft decisions and support the development of future MLB players.
“Sportradar’s cutting-edge technology, alongside our reputation as a trusted partner to leading US sports leagues, is driving the transformation of sports performance analysis,” said Eduard Blonk, Chief Commercial Officer, Sportradar. “Through Synergy we are pleased that we are expanding our relationship with MLB, equipping them with the deep data and insights they need to identify the next generation of players. We are eager to continue bringing innovative solutions to MLB.”
“We are excited to expand our relationship with Sportradar and ensure equal access to the Synergy video and data services for all 30 MLB Clubs. This platform has become a key resource for Clubs in the domestic and international scouting process and we look forward to continuing our work with Sportradar in the coming years,” said John D’Angelo, MLB’s Sr. Vice President of Amateur and Medical Operations.
Financial reports
Commercial Gaming Revenue Growth Continues in Q3 2024, Driving Industry’s 15th Consecutive Quarter of Growth
U.S. commercial gaming revenue reached $17.71 billion in Q3 2024, the industry’s highest-grossing Q3 on record, according to the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker. This makes Q3 2024 the industry’s 15th consecutive quarter of annual revenue growth, with September marking the 43rd straight month of rising year-over-year commercial gaming revenue.
Through the first nine months of the year, nationwide commercial gaming revenue stands at $53.24 billion, pacing 8.0 percent ahead of 2023 and putting the industry on track for a fourth straight record revenue year.
In Q3 2024, 29 of the 35 commercial gaming jurisdictions operational last year saw increased year-over-year revenue. This growth resulted in an 8.9 percent year-over-year increase in state and local taxes tied directly to gaming revenue, with commercial gaming operators contributing $3.79 billion in taxes across the quarter.
Quarterly revenue from land-based gaming – encompassing casino slots, table games and retail sports betting – totaled $12.56 billion, 0.62 percent lower than Q3 2023. Meanwhile, combined revenue from online sports betting and iGaming totaled $5.14 billion in Q3 2024 as online gaming made up 29.0 percent of commercial gaming revenue, a significantly higher share than in Q3 2023.
Looking at each sector in Q3 2024:
- Traditional Gaming: Traditional brick-and-mortar casino gaming generated quarterly revenue of $12.38 billion, a contraction of 0.9 percent year-over-year.
- Legal Sports Betting: Americans legally wagered $30.3 billion on sports, generating $3.24 billion in quarterly revenue (+42.4% YoY). Recent market launches in Kentucky, Maine, North Carolina and Vermont contributed to this growth.
- iGaming: iGaming generated $2.08 billion in revenue, marking a 30.3 percent year-over-year increase.
“Q3 2024 continued gaming’s momentum from the first half of the year, with online casino and sports betting driving strong growth. At the same time, new brick-and-mortar casino openings bolstered traditional gaming, which still accounts for the bulk of industry revenue,” said AGA Vice President of Research David Forman. “More than a quarter of commercial revenue now regularly comes from online sources, raising the importance of continued sustainable growth with consumers in those states.”
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