Latest News
Leading Canadian Law Firm Segev LLP Opens Alberta Office to Help Clients Address Regional Opportunities
Segev LLP Opens Alberta Office to Help Clients Access Alberta Opportunities
Segev LLP is pleased to announce the opening of its Alberta office, a strategic move that will allow the firm to service more key markets across Canada. As Alberta is soon expected to announce its new open online gaming and betting regime, establishing a more formal presence in the province to better serve clients is a natural evolution for Segev. Alberta has also positioned itself as an attractive securities jurisdiction for companies seeking to raise private and public capital with greater ease.
Segev now has approximately 23 lawyers across Alberta, Vancouver, Toronto, and the United States, with a presence that extends into India.
āWe try to anticipate the needs of current and future clients and being able to service those needs in Alberta will become a greater priority for many of them,ā said Ron Segev, the firmās Founding Partner.
Segev LLP is globally recognized, with a deep breadth of experience in Business Law, Gaming & Gambling, M&A, Securities, Blockchain & Crypto, Tech & IP, Real Estate, and Commercial Litigation sectors. Segev provides strategic legal counsel to local and international businesses, ranging from founders to Fortune-500 companies.
The firm has been named a āLeading Firmā by the prestigious legal ranking guide Chambers and Partners and recognized by Lexology WWL (Sports and Gambling), and the Legal500 (Canada: Gambling Law).
Latest News
Jackpot.com Launches in Colorado Providing Consumers Mobile Lottery Access Across the Centennial State
Today, Jackpot.com, the online platform and app that allows individuals to safely and securely order official state lottery tickets and scratchers from their mobile phone and other devices, announced its launch in Colorado. On the heels of the Colorado Lotteryās 40th anniversary last year, the Centennial State will feature both draw games and Scratchers (digital scratch off games).
With Jackpot.com, Colorado players can instantly buy tickets for nationwide games such as Mega Millions and Powerball, as well as their favorite state lottery games, including Cash 5, Pick 3, Lucky 4 Life, and more. The innovative platform purchases tickets on behalf of its customers from an official state lottery retailer, displaying a scan of their ticket and transferring winnings under $600 in real-time to their account. For prizes greater than $600, Jackpot.com securely delivers the ticket to the winning player so they can collect the winnings from the Colorado Lottery.
āAt Jackpot.com, we remain committed to growing the safe and secure access to the lottery across the country and we could not be more excited to add Colorado as our seventh state,ā said Jackpot.com CEO and co-founder, Akshay Khanna. āLast year, the Colorado Lottery reached $4 billion in proceeds and they give back millions of dollars each year to state parks, schools, and various projects. Theyāre also notably invested in responsible gaming, which has been a staple at Jackpot.com since its inception. We canāt wait to become part of the Colorado community and provide an accessible and reliable lottery experience for players.ā
Not only will Colorado residents have access to their favorite state lottery games, theyāll also have access to Scratchers – the digital scratch ticket offering focused on expediting the convenience and the processing times of scratch-off games. Jackpot.com will launch with five of the most popular scratchers in Colorado, including $3,000,000 Supreme, Casino Ca$h Chips, $250,000 ORO, and more. Customers simply have to āscratchā their device screen with their finger or mouse to reveal their scanned ticket and potential winnings. Jackpot.com delivers the industryās fastest online lottery scratch card experience after undergoing a comprehensive business process review by Gaming Laboratories International (GLI), which ensures its method for ordering and processing lottery scratch tickets is accurate and functions as expected for both Jackpot.com and the player.
This year marks the Colorado Lotteryās fourth consecutive year generating a new sales record, amassing over $900 million in revenue. This yearās success translates to more than $196 million in funds allocated to beneficiaries throughout the state. Since its first ticket sale in 1983, the Lottery has allocated over $4.2 billion to good causes across the state.
Jackpot.com has continued to raise the bar for responsible gaming through the integration of modern conveniences and safety guardrails, one of the key distinctive features of digital lottery platforms. The company has significantly invested in responsible gaming protections by allowing customers to set spend limits, setting default limits on daily deposits, providing access to local and national responsible gambling resources, self-exclusion, self-suspension and automated notifications that offer help should problematic behavior be detected. Jackpot.com is the only lottery courier service to launch with iCap certification from the National Council on Problem Gambling.
Fantasy Sports
Will Booth: blending the best of fantasy and sports with PickāEm Player Props
For those that might not know, can you give us a brief overview of PickāEm Player Props?
In simple terms, the new PickāEm Player Props product from WA.Technology is almost like a hybrid between fantasy sports and sports betting. In the same vein as traditional player props products that you see in traditional sports, players can select markets on individual players ā we have just taken that model and elevated it.
During the game, players can make between two and six bet selections. For example, will Erling Haaland score more or less than 2.5 shots? The number of bet selections the player makes then determines their multiplier. By allowing bettors to unleash their sporting knowledge and provide engaging games for them to play, we are helping our operator partners to not only engage with a wider player base but also to fuel long-term retention. It really is a one-of-a-kind product and one weāre incredibly excited about. Itās already proving to be a top performer in LatAm.
Why has now been the right time to unveil PickāEm Player Props?
Over the last few years, weāve seen significant growth in the number of player proposition products. There are several reasons for that. Sports fans have shown a growing affinity for individual players rather than a team. They follow players on social media and engage with content featuring that player.
This reflects the wider trend weāre seeing: the new generation of fans is more in love with the players than the team itself. A great example of this is both Lionel Messi and Cristiano Ronaldo. Bettors worldwide would wager on either of those players and engage with their content regardless of which team they played for or what club they supported.
The appetite for player-driven betting is increasing dramatically, resulting in a greater demand for products specifically tailored to individual athletes.
With more traditional sportsbooks, however, weāve found that there isnāt as much depth of product regarding player propositions ā aside from goal scorer markets. We wanted to change that ā we wanted to deliver a fun, engaging product that helps build a sense of community among players.
Since PickāEm Player Props is also a hybrid of fantasy and sports, it can act as an attractive tool to facilitate new market entries, as fantasy sports are not regulated like sportsbooks or iGaming. Take the US for example. In most states, operators do not need a licence to offer a fantasy sports product. This is the case for many markets around the world, too. I believe this will be an attractive proposition for operators looking to expand their international footprint, and as a truly global provider, weāre here to make that happen.
In your view, what differentiates WA.Technologyās PickāEm Player Props from other player props products on the market?
Currently, we are the only B2B provider to offer a player propositions product that combines sports and fantasy. A handful of companies in the US offer something similar, but they are all B2C companies ā we are bringing something totally unique to the B2B space.
Fantasy Sports have always been popular in the US. But over the last 18 months, weāve seen a meteoric rise in the demand for player proposition markets; we wanted to develop a product that caters to that growth in demand and delivers something unique for our partners.
For other player props products on the market, something that is worth noting is that the design and UX are doing little to engage Millennial/Gen Z bettors. This audience demands a streamlined UX that is easy to use. Our PickāEm version has been specifically designed with this demographic in mind, although we have been careful not to disenfranchise other age groups. We have kept the design sleek, streamlined and easy to use to deliver that. Itās extremely well-designed compared to what you might see in a more traditional sportsbook.
The game is straightforward to understand because we have fixed multipliers. This decision differentiates us from more traditional products, where the multipliers vary depending on how many bets you place. It also makes the product much more accessible for players who might otherwise not be familiar with fantasy or player props.
Another major defining factor is that we have ensured players can add multiple bets from different markets together. On most sports betting sites out there, you cannot combine player props markets. You couldnāt, for example, have a bet slip combining Erling Haaland’s Over/Under Shots and Kevin De Bruyneās Shots on Target. We know this is frustrating for many bettors. We wanted to eliminate that barrier and elevate sports fans’ experience.
How does the level of data granularity influence the design and effectiveness of player proposition betting products, particularly in terms of player engagement and personalised betting options?
We are very fortunate that the data feed we use for our player props markets is the best. We have a wide range of insights and data analytics available, giving us an edge over other companies within the space ā this is a serious differentiator.
The enhanced data range means we can deliver many more bespoke, personalised betting options to players while also getting more granular with the markets we can offer.
Our Managed Services Team, which oversees all things trading, also closely monitors the markets that are most popular with players. For example, if we see an influx in bets on āshots on targetā, we know how to create more promotions around this particular market. We can tailor the CMS to engage better with players and create a more personalised experience.
Players can also āfavouriteā particular players and clubs. Any market featuring that player will automatically appear when the PickāEm Player Props application loads up.
Are there any markets where you believe PickāEm Player Props will prove to be particularly popular? If so, why?
In all honesty, I canāt think of a market where this wonāt be popular! Regions such as LatAm present an enormous opportunity for the growth of player proposition markets. I believe we can really plug a gap in the products currently offered to bettors.
Across the continent, weāve seen players show a real passion for player-focused markets, and weāre here to capitalise on that. In Brazil, for example, if we were to create markets on Neymar, Iād anticipate this would gain much traction!
The real selling point for PickāEm Player Props here is that we offer an extensive range of sports and markets that cater to a broad audience ā but within that, we can personalise sports and bet selections not to overwhelm the player. Iād expect that markets on football will perform exceptionally well across Africa and LatAm, while countries such as South Africa may have a stronger preference for Rugby or Cricket.
Ultimately, itās about understanding the unique preferences of players within each jurisdiction our partners operate in and tailoring the product accordingly. With teams based in various markets worldwide, we can get to grips with the local knowledge and fully understand what resonates with bettors.
In your view, what are some of the factors behind the growth of player props products in the last 12 months?Ā Ā
Most definitely shows how sports media companies are incorporating more player-specific content into their roster. This already has a huge impact, and I canāt see it changing anytime soon.
Whether itās interviews with specific players, post-match analytics on performance or even the inherent growth of social media, the balance is undoubtedly tipping more towards the player rather than the team.
Personalisation will also have a considerable knock-on effect on the growth of player propositions. Bettors want more bespoke offers, specific bet suggestions and more instant content tailored to their unique playing habits. With a product like PickāEm Player Props, you can personalise that betting experience to your heartās content.
It also becomes much easier for sportsbooks to align with a specific userās interests when we deliver unmatched data analytics and levels of personalisation that are available via WA.Technologyās product suite.
In short, PickāEm Player Props gives operators the tools they need to create wide-ranging engagement opportunities without sticking to the rigid sporting calendar, where sometimes you might have to wait several days between a game. By incorporating fantasy sports, we can deliver round-the-clock content much faster, therefore meeting the demands of players. If you want to find out more ā make sure to stop by Stand 1095 at SiGMA!
Latest News
Golden Matrix Group Inc. Reports Strong Q3 2024 Earnings and Continued Operational Growth
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Revenue Growth: Q3 2024 consolidated revenue increased by 85% to $41 million, with year-to-date revenue up 55% to $105.3 million, driven by consistent performance across key markets.
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Gross Profit Increase: Gross profit grew 39% in Q3 to $22.4 million, with year-to-date gross profit rising 24% to $61.8 million, reflecting improvements in operational efficiency and product margins.
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AEBITDA: Adjusted EBITDA for Q3 reached $4.3 million, reflecting resilient performance across multiple revenue channels with marginal impacts from currency fluctuations across subsidiaries.
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Balance Sheet Strength: As of September 30, 2024, Golden Matrix maintained a robust financial position with over $38.4 million in cash and equivalents and short-term debt of $17.5 million. Shareholder equity also grew 60% to $94 million, reinforcing the Companyās ability to pursue strategic growth initiatives.
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Meridianbet Strong Growth Continues: Meridianbetās Q3 revenue grew 16% YoY, led by a 19% online increase and 6% in retail. Deposits rose to $61.9M (+13% QoQ), with new registrations up 23% to 125K. Online casino GGR margin hit 3.37% (+21% turnover), sports betting rose 7.4% YoY with GGR at 9.5%, retail sports GGR at 10.3% (record 14.1% in August), and retail slots up 17.5% YoY.
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Expansion of GMAG Platform: The GMAG B2B aggregator platform saw substantial growth, with wagering volume increasing 84% to $1.4 billion. Enhanced customer retention tools and the addition of high-margin games have driven engagement and profitability.
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Classics for a Cause Acquisition: This newly acquired Australian business added $2.1 million in revenue and $503,000 in EBITDA within two months, expanding Golden Matrixās market reach and contributing to overall profitability.
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Mexplay Growth: Mexplay, the Companyās online casino in Mexico, reported a 56% increase in active players and a rise in gross gaming revenue to $15 million, underscoring growth potential in Latin America.
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