Latest News

Promoting Responsible Gaming a Must for 2023

Published

2 years ago

November 9, 2022

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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Compliance Updates

IGSA Welcomes Sharp Vision as Silver Member

Published

19 hours ago

July 26, 2024

Niji Narayan

The International Gaming Standards Association (IGSA) has welcomed Sharp Vision as a new Silver member. Sharp Vision is a leading provider of regulatory turnkey solutions for gaming authorities.

“We are delighted to be a part of IGSA and we look forward to contributing to the advancement of best practices among regulators in the fast-growing gaming industry,” Damien Raymond, COO of Sharp Vision, said.

“IGSA is very excited to welcome Sharp Vision to our membership. We believe that IGSA Standards can enhance Sharp Vision’s products supporting regulatory authority oversight. We look forward to their participation in IGSA committees,” Mark Pace, President of IGSA, said.

Latest News

BigCash Goes Global with Launch in Brazil

Published

19 hours ago

July 26, 2024

Niji Narayan

BigCash, India’s leading online skill-based real money gaming company, has set its sights on global expansion and aims to offer an unparalleled gaming experience to users worldwide. The global skill-based gaming market is estimated to grow annually at a CAGR of 13.50% and will be valued at USD 106.78 billion, by 2032. Building on its success in India, BigCash is poised to introduce its entertaining games to global audiences, uniquely blending local flavors with its hallmark innovative gameplay.

BigCash started its journey in 2017 and has quickly become players’ preferred choice, by strategically focusing on launching new games and features regularly and due to its superfast and user-friendly interface. Being a multi-gaming app, it offers a wide range of games tailored for all age groups. With popular Indian card games, like poker, rummy, and call break with regional variations; casual games like ludo, ice blaster, fruit chop, along with fantasy cricket, the platform resonates deeply with the players of Bharat.

Continuing on the mission to take Indian technology global and to reach a wider global gaming audience, BigCash, after months of an in-depth market study, had set its views on expanding its global presence with in-house developed and tailored gaming technology and experience. BigCash presently operates in Brazil, besides India.

One of the key reasons behind BigCash’s entry into the Latin American market is the region’s immense potential for growth in the gaming sector. Brazil, in particular, has emerged as a hotspot for gaming companies due to its large population, favorable demographics, and a growing middle class with disposable income.

BigCash’s global expansion plans include multiple launches in Latin America, Asia, and Africa over the next 12 months. BigCash plans to offer local and international flavors, customized specifically for each country, with a focus on Responsible Gaming and other trust measures, to ensure a deeper bonding with the players.

Ankur Singh, CEO of BigCash, said: “Going global has been part of our strategic planning always; with our launch in Brazil, we have just taken the first step. We are aspiring to be present in 8 countries in the next 12 months. The competitive landscape in Latin America’s gaming industry presents both opportunities and challenges. BigCash is a perfect fit for the Latin American gaming landscape due to our stronghold on tech, which allows product customizations, easy-to-play online games, a supersafe and fast experience; we are already gaining a lot of organic traction.”

Latest News

Michigan Lottery Transitions to 1-800-GAMBLER for Responsible Gaming Support

Published

19 hours ago

July 26, 2024

Niji Narayan

The Michigan Lottery announced that it will transition to the National Problem Gambling Helpline, 1-800-GAMBLER for responsible gaming support. This aligns the agency with the Michigan Gaming Control Board and other online gaming platforms operating in Michigan in promoting 1-800-GAMBLER. The 1-800-GAMBLER helpline will replace the Michigan Problem Gambling Helpline currently in circulation (1-800-270-7117), although the previous number will remain in operation.

“The Lottery is committed to providing Michiganders with easy access to resources that support responsible gaming. By transitioning to 1-800-GAMBLER, we are able to ensure that Michigan residents can reach specially trained staff who can provide confidential professional support, local referrals, and resources to those who may have a gambling problem,” said Lottery Commissioner Suzanna Shkreli.

Operated by the National Council on Problem Gambling (NCPG), 1-800-GAMBLER is the world’s largest problem gambling helpline network by call volume, population served, and geographic area covered. The helpline connects people and families impacted by problem gambling with professional support, local referrals, and resources.

Calls made to 1-800-GAMBLER from Michigan will be routed to the Michigan Department of Health and Human Services. The helpline can also be reached by texting 800GAM or chatting online at 1800gamblerchat.org. Trained contact center staff are available 24/7, 365 days a year to provide support, guidance, and relevant information to anyone seeking help related to problem gambling. Additionally, players or their family members may connect to support resources such as live chat, text, and the helpline number by selecting the links in the footer of the Lottery’s website.

The Michigan Lottery was the first lottery in the US to achieve the Internet Responsible Gambling Compliance Assessment Program certification through NCPG in October 2015. The NCPG evaluated the Lottery’s compliance with Internet Responsible Gaming (IRG) standards developed based on best practices from jurisdictions around the world. IRG standards are the highest standards for online responsible gaming in the nation.