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New York Impact, Ad Risks Highlighted In U.S. Sports Betting Regulatory Survey

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New York Impact, Ad Risks Highlighted In U.S. Sports Betting Regulatory Survey

 

Contagion from New York’s high-tax model and an anticipated backlash on advertising are policy risks of chief concern for a U.S. sports betting market that is set to expand to almost every state within the next three years, according to the findings of the second annual VIXIO GamblingCompliance and SBC U.S. Sports Betting Regulatory Survey.

Just over half the 145 senior industry executives, regulatory officials and legal advisors who participated in the survey said they expect sports betting to be legal in 45 or more states by 2025, compared with 32 at the start of 2022.

But concerns related to New York’s unique regulatory model for online sports betting and its high tax rate of 51 percent were a clear theme of survey responses.

When asked in the VIXIO/SBC survey to select the policy issue most likely to impede growth of the U.S. market in future years, 21 percent of respondents picked high tax rates and license fees, ahead of the 12-14 percent who selected either the slower rollout of iGaming, the Wire Act, limited enforcement actions against offshore operators, or restrictions on permitted bet types or events.

The spread of New York’s high-tax model to other states was also selected by almost 28 percent as the most concerning from a list of hypothetical regulatory events.

The initial VIXIO/SBC survey conducted in late 2020 mainly highlighted industry concerns related to the 1961 Wire Act, an enigmatic federal law which prohibits interstate sports wagering, but these appear to have diminished since a favorable federal appellate court ruling that came on the same day as the inauguration of a Biden administration seen as less likely to clamp down on online gambling than that of former President Trump.

“The second VIXIO/SBC U.S. Sports Betting Regulatory Survey showed a noticeable and understandable shift in industry sentiment on regulatory risks in the U.S. market,” said James Kilsby, VIXIO’s chief analyst.

“Ten states passed laws on sports wagering during 2021 and they did so through a far more diverse range of regulatory models than in prior years, with New York establishing by far most expensive U.S. market to date in terms of tax rates and license fees, and another potentially lucrative market, Florida, seeking to grant exclusivity to the Seminole Tribe.”

While sports betting is expanding rapidly, online casino or iGaming is stuck in a much lower gear, limited to just six states at the start of 2022. 25 percent of survey participants said perceived risks of problem gambling were the main reason for the slower rollout of iGaming compared with sports betting, closely followed by concerns of cannibalization of land-based casino revenue. Still, 55 percent said they expected iGaming to expand to 10 or more states by 2025.

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On another hot topic, survey participants were also asked about nascent concerns related to advertising, which has exploded in various states that have recently launched online sports wagering. 65 percent said they agreed some kind of policy backlash, similar to that currently sweeping across Europe, is inevitable without industry efforts to proactively limit marketing efforts.

Compliance Updates

QTech Games sharpens its LatAm focus with MINCETUR licence in Peru

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QTech Games sharpens its LatAm focus with MINCETUR licence in Peru

 

New certification for emerging-markets leader arrives ahead of key industry summit in Sao Paulo and awards recognition

QTech Games, the leading game aggregator for emerging markets, has had its platform and games successfully approved for the Peruvian market, demonstrating that its premier B2B platform and all-encompassing content conforms to the latest legislative updates to enhance and regulate Peru’s local gaming environment.

Peru’s Ministry of Foreign Commerce and Tourism (MINCETUR) has now issued an online gaming licence to QTech Games, whereby all its platform products and games are now deemed legally permitted. This includes its new software service for retail, QTech Hybrid, which allows land-based partners to scale their operations online. QTech Hybrid simplifies transactions by enabling deposits, withdrawals and gameplay while allowing access to players both in-shop and on personal devices.

This breakthrough hybrid solution has quickly won clients and awards in the comparably fragmented African market (most recently in March for Best Innovation at AGE Lagos), and now promises to do likewise across LatAm, where QTech Games has already signed several major clients for both its aggregation platform and its QTech Hybrid solution. This activity has seen it again nominated for Best Aggregator at the SiGMA Americas Awards, which kickstart the SiGMA Americas summit (7-10 April) next week, as the igaming world converges on Sao Paulo for a must-attend conference in another of QTech Games’ “focus markets” for 2025.

Philip Doftvik, QTech Games’ CEO, said: “It’s fantastic to have certified our aggregation platform in Peru via MINCETUR – and I’m pleased to say we have more such approvals pending across the continent. We attended fantastic events in Rio and, more recently, SAGSE 2025 in Buenos Aires – and anticipate more of the same at SiGMA Americas in Sao Paulo next week, where we’re also thrilled to have been shortlisted for Best Aggregator at their LatAm Awards. Given the venue, Brazil will be dominating the discussion for many at SiGMA Sao Paulo. However, we’ll also be looking beyond Brazilian borders this year, and are already active in Mexico, Chile, Colombia and Paraguay. We know our QTech Hybrid solution will work very well wherever we put a pin on the LatAm map.”

QTech Games delegates will be present at five more LatAm summits in 2025, with SiGMA Americas (7 April) the next port of call – followed by GAT Expo Cartagena (28 April), SBC Americas (13 May), Peru Gaming Show (18 June) and GAT Expo Mexico (28 Aug).

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BETBY STRENGTHENS LATAM PRESENCE THROUGH STRATEGIC PARTNERSHIP WITH CALÍMACO

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BETBY STRENGTHENS LATAM PRESENCE THROUGH STRATEGIC PARTNERSHIP WITH CALÍMACO

 

BETBY, an industry-leading sports betting provider, has announced a long-term partnership with Calímaco, a premium B2B sportsbook supplier with a strong foothold across Latin America. This collaboration aligns with BETBY’s expansion strategy in the LATAM market, reinforcing its commitment to delivering state-of-the-art sportsbook solutions in the region.

As part of the agreement, Calímaco will integrate BETBY’s award-winning sportsbook solution, including its proprietary esports feed BETBY Games, and comprehensive trading and risk management services. Additionally, by leveraging BETBY’s AI-driven technology, AI Labs, Calímaco’s partners will gain access to an unparalleled betting experience tailored to the needs of the LATAM market.

Known for its scalable and robust casino and lottery platform, Calímaco will significantly enhance its offering with an additional 300,000+ events, 8,000+ markets, 125+ sports, and 35+ esports provided by BETBY, cementing its position as a go-to supplier in the region’s competitive iGaming landscape.

Stefanos Karakidis, Head of Business Development at BETBY, commented: “We are excited to partner with Calímaco, a company that shares our vision for technological excellence and operator-focused innovation. Integrating our complete sportsbook solution into Calímaco’s platform will enable brands across LATAM to elevate their sports betting offerings and provide their users with an exceptional experience.”

Alejandro Serrano, Head of Business Development at Calímaco, added: “BETBY’s sportsbook technology is renowned for its flexibility, scalability, reliability, and comprehensive coverage. Incorporating their award-winning solution into our platform will empower our partners with world-class sports betting capabilities, further strengthening our presence in the Latin American market.”

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GLI® Names Sangeeta Reddy as Vice President, Innovation

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GLI® Names Sangeeta Reddy as Vice President, Innovation

 

To ensure the company keeps its global clients well ahead of the technology curve, Gaming Laboratories International (GLI®) has named Sangeeta Reddy as Vice President, Innovation. Previously, she served as Vice President of Engineering. Reddy will lead the company’s newly formed Innovation division.

“Technology is advancing at a breathtaking rate. Our mission at GLI is to advance with technology, while also constantly finding ways to do more to keep our clients informed and ahead of what’s next. In her new role, Sangeeta will continue to evolve our evaluation methodologies via her passion for R&D, her extensive experience both in and out of the gaming, and her strong academic background,” said President and CEO James R. Maida.

Reddy began her gaming industry career in 2001 as a PA Engineer at IGT, specializing in VLT, Slot games. She joined GLI in 2020. Prior to joining GLI, Reddy successfully managed Software QA and Development teams at Thomson Reuters and General Motors.

She holds a certificate from the Harvard Business Publishing’s Emerging Leaders program and a certificate in Associates Computer Information Systems. Her Postgraduate certification includes Chief Technology Officer Program, Business Analytics: From Data to Insights, and Driving Strategic Innovation: Leading Complex Initiatives for Impact from the Wharton School Aresty Institute of Executive Education and certifications in Cloud Computing, Artificial Intelligence and Machine Learning: Business Applications, Artificial Intelligence, and Data Science and Business Analytics from the Texas McCombs School of Business, Postgraduate Program.

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