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NCAA removes integrity fees for sports betting

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The National Collegiate Athletic Association (NCAA) of the USA will not be charging integrity fees on sports betting following the legalisation of sports betting in some states of the country.

The move to legalise sports betting by some states has created some problems also – along with the numerous opportunities it creates. Major sports organisations in the country are still checking how the move might influence their operations. There are also issues around the integrity of these sports, as well as the issue of third parties making money out of their intellectual property. Then there is the issue of integrity fees, especially with the NBA and MLB. That is where the announcement of the NCAA to do away with integrity fees assumes significance.

Integrity fee details

At the beginning of May 2018, the US Supreme Court legalised sports betting in the country. This meant that individual states could decide whether or not sports betting should be legalised in their jurisdiction.

A number of states have already passed bills and started offering these types of wagers, whereas others are taking a more cautious approach. Organisations strongly against sports betting include the NFL, NBA, MLB, NHL, and NCAA.

They were concerned that legalisation would lead to the integrity of their sports leagues being compromised as it would become a lot easier to bet on the outcome of games. They were also concerned that parties that accept bets on the games in the respective organisations will be benefitting from the league’s intellectual property.

Therefore, the likes of the NBA and MLB had been calling for the introduction of integrity fees. These would effectively be the league’s slice of the action for sports betting on games in their league. When the sports betting bill was being debated in the state of New York, for example, there was a provision for the leagues to get 0.2% of each wager.

The NCAA stance

The NCAA, which is the representative body for college sports in the U.S., has decided to change its stance on sports betting. The four predominant professional leagues in the country have been looking for these integrity fees, but the NCAA has now announced that it will not be looking for a cut. The main reason the leagues are looking for this fee is to pay for the oversight expenses that will be required for legalised sports betting.

The CFO and senior vice president of the NCAA, Kathleen McNeely, outlined the NCAA’s stance that sports betting should be regulated on a state level and that while the NCAA will not be pursuing integrity fees, individual schools can do so if they wish.

Essentially, the NCAA is looking to move away from having to monitor the integrity of games under their umbrella and instead place this in the hands of the participating schools. This, of course, would pass the burden of cost onto the individual schools.

McNeely said: “We will not be going after any gambling revenue. We know it will cost money to monitor, but (association president) Mark Emmert has been pretty firm in saying he doesn’t think it’s appropriate for the NCAA to try to access that revenue.”

There are different ways for universities to obtain these integrity fees. There has already been an agreement in West Virginia between the NBA, PGA Tour, MLB, Marshall University and West Virginia University on monitoring in association with the lottery commission in the state.

West Virginia was one of the first states to make sports betting legal. Both the NBA and MBL have been working hard across the country, lobbying lawmakers to try and get their cut, while the NFL and NCAA have been largely quiet in this regard. The NFL appears to be more in favour of sports-betting regulation at a federal level.

Source: vegasslotsonline.com

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George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Fast Track welcomes PolarLotto: taking online lotto in Sweden to new heights

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Malta, 28th March 2024 – PolarLotto, a leading provider of lotto betting services in Sweden, has just announced a strategic partnership with Fast Track, a leading provider of CRM solutions designed specifically for the iGaming industry. This collaboration aims to propel PolarLotto’s expansion from offline to online offerings, bringing the excitement of the world’s biggest lotteries to Swedish players in a safe and responsible manner.

PolarLotto prides itself on its commitment to transparent and ethical gaming practices, with a focus on player safety and responsible gaming. By teaming up with Fast Track, PolarLotto aims to leverage cutting-edge technology to expand its business model from traditional to online, ensuring a seamless and engaging experience for its customers.

Commenting on the partnership, Benjamin Burstein, CEO of PolarLotto, expressed enthusiasm about the possibilities ahead, stating, “We are excited to embark on this journey of transforming our business with the latest technology and automation tools provided by Fast Track. As we transition to the online space, we are confident that Fast Track’s expertise in custom segmentation, real-time data capabilities, and personalised experiences will enable us to better serve our players and achieve our business objectives.”

Fast Track also expressed confidence in the partnership, highlighting the potential for exceptional results through its Singularity model, which uses AI and machine learning to deliver tailored content to players, at the right time and through the most effective channel. “We are thrilled to partner with PolarLotto and support their online expansion,” said Simon Lidzén, CEO and co-founder of Fast Track. Our tools are designed to empower lean teams to achieve remarkable results, and we look forward to helping PolarLotto maximise their online presence and engagement.”

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Red Bull Gaming premieres ‘Memories of CS:GO’ documentary highlighting the game’s early years

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As the CS2 PGL Major in Copenhagen is set to kick off, Red Bull Media House will unveil a captivating feature-length documentary, “Memories of CS:GO – The Early Years,” an ode to one of the most influential games ever made.

This film takes viewers on an immersive journey through the origins and evolution of Counter-Strike: Global Offensive (CS:GO), featuring personal accounts and defining moments from several of the most legendary figures of the game.

The 90-minute documentary, narrated by Counter-Strike commentator Henry “HenryG” Greer, chronicles the remarkable trajectory of CS:GO, from its grassroots beginnings to becoming a global esports phenomenon.

Produced by Red Bull Media House, the film captures the essence of the game through the eyes of its most well known players, including Olof “olofmeister” Kajbjer Gustafsson, Patrik “f0rest” Lindberg, Richard “shox” Papillon, Gabriel “FalleN” Toledo, and Jarosław “pashaBiceps” Jarząbkowski, among others.

The documentary’s release is timed to precede the playoff stage of the PGL Major Copenhagen, scheduled for March 26, 2024. It will premiere on Red Bull Gaming’s YouTube channel at 21:00 CEST, offering viewers worldwide an insider’s perspective on the beloved game.

Event Details:

  • What: Premiere of “Memories of CS:GO – The Early Years”
  • When: March 26th, 2024, at 21:00 CEST
  • Where to watch: Red Bull Gaming’s Youtube Channel
  • The “CS:GO Memories” documentary can be viewed shareit.redbull.com

 

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Ten Square Games ready for a new development opportunities in 2024

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2023 ESPI package

The following documents in pdf format are equivalents of the official Consolidated Financial Statement which were reported in ESPI (download in the zip file above)

2023 Consolidated Financial Statement

2023  Management Board Report on Activities

Independent Auditor’s Report on the Audit of Annual Consolidated Financial Statements

Link to the stream

Link to the chat with individual investors

Presentation

Factsheet

Financial data

Transcription of the conference and Q&A session

For complete press release visit tensquaregames.com

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