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Banking on the Future of UK Betting Shops

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Down the years, if you were hard-pushed to find a bookmaker’s shop in a typical UK town you would make for the nearest pub, knowing that the betting shop would be strategically located close to the ale pumps. Far from being a nefarious marketing strategy, it was seen as cultural: a few pints, a quick bet on the football or horse racing.

Of course, there are still plenty of betting shops in the UK, many of which are located strategically next to the ‘boozer’. In fact, around 8,000-9,000 outlets are still operating as of March 2018. Although numbers peaked in the 1970s and 80s (at around 16,000), it must be said that the traditional bookmakers shop has been reasonably resilient, despite many prophecies of doom.

 

The interesting aspect is that the betting shops have not really changed all that much over the years. We live in an era of digital disruption, one where the traditional high street is changing beyond recognition: DVD stores and books shops have been supplanted by Amazon. Clothes shops are also having a difficult time in the face of competition from online rivals. High street retailers are being asked to adapt in order to survive – why aren’t bookmakers’ shops doing the same?

Shops have changed slightly

Certainly, there have been some slight changes to the make up of a typical betting shop. You can walk into a William Hill shop, for example, and fund or withdraw from your online account. Electronic betting terminals, too, have changed the way we bet in the shops. Effectively, those terminals allow us to bet online without an account. It has been pointed out that, in the world of betting, cash is still king. Not only is there a level of anonymity to walking into a shop, but there is also a psychological reward to getting winnings in real cash as opposed to a number on a computer screen.

Still, we know that eventually the digital option will likely win out. The benefits of betting online make it inevitable. Take, for example, Betfred, a brand that has bucked the trend slightly by adding dozens of new shops last year. Why would you walk into a shop as a new customer, when you can enjoy Betfred betting offers, including free bets, to use online on any sport you like? Why back Manchester United at 13/2 to win the Premier League in a shop, when you could lose the receipt over the course of a nine-month season?

FOBTs limits may cause closures

fobts uk

You cannot talk about betting shops in the UK without mentioning the media’s cause célèbre from the last few years – fixed odds betting terminals (FOBTs). Steps have been taken to limit the maximum bet on these games to £2 (down from £200), in a move that many bookmakers have said would spell disaster in terms of shop closures. Much of the revenue for shops came from these terminals, so it is almost certain the regulations will have an impact.

The answer for the continued existence of betting shops 10, 20 years from now may lie in the example of bookstores. Some have been thriving in the face of Amazon’s dominance, because they have redefined what a bookshop is. Instead of going to buy a book, you are invited to a communal space, complete with a café and other things not easily replicated online, such as guest speakers. Could bookmakers have a similar way forward? Perhaps fusing with their natural bedfellow – the traditional British pub?

Source: Latest News on European Gaming Media Network

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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Goa Introduces an Entirely Online Lottery Platform

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In a move towards modernising India’s lottery sector, the state of Goa has introduced an entirely online lottery platform, sanctioned by the Directorate of Small Savings and Lotteries. This initiative, known as Great Goa Games, aims to bring transparency and convenience to an industry that has long grappled with allegations of mismanagement and fraud.

Ticket sales commenced Monday, with the inaugural draw set for Sunday. Rhiti Group, led by founder Arun Pandey, was granted the license to operate and market the platform. “Our mission is to democratize opportunities through technology,” Pandey stated, emphasizing the secure and user-friendly nature of the app-based system.

Goa government official Narayan Gad lauded the move as a step forward for the Indian lottery sector. “With our online lottery streamlining processes through technology, we are setting a new standard in the lottery industry,” Gad remarked. “The technology-based product will enhance transparency and ensure improved monitoring and regulation of operations.”

This development follows new rules governing online lotteries, introduced by the Goa directorate in February 2023. Currently, 13 states in India, including Goa, allow lottery games, though others have banned them due to concerns over gambling addiction and operational irregularities.

The post Goa Introduces an Entirely Online Lottery Platform appeared first on European Gaming Industry News.

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Catena Media Announces Board Changes

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Catena Media’s board of directors announced the appointment of Stephen Taylor-Matthews as non-executive director and the departure of Øystein Engebretsen from the board of directors.

Based in London, Stephen Taylor-Matthews is a tech entrepreneur, executive advisor and investor with over two decades of experience in online gaming, sports betting and data analytics.

He is the founder of Polynate, an AI-first company delivering next-generation sports engagement solutions, and has worked at Underdog Fantasy, GoatGaming and Betgenius in previous roles.

Stephen Taylor-Matthews commented: “Catena Media is in a transformation phase and I’m excited to be joining the board at this juncture and to contributing my industry expertise and insight.”

The appointment coincides with the departure from the board of Øystein Engebretsen, who has served as non-executive director since September 2018.

Erik Flinck, Chairman of the Board of Directors, said: “Øystein has made a valuable and important contribution to Catena Media for more than six years. I warmly thank him for his efforts and wish him well in his current and future ventures. At the same time, I am delighted to welcome Stephen Taylor-Matthews to the board. His experience and expertise will be a valuable asset for Catena Media as we move forward.”

Stephen Taylor-Matthews’ appointment will become effective once all necessary filings are made with the Malta Business Registry, and his term will run up until the end of the next annual general meeting, in accordance with the Maltese Companies Act and Catena Media’s articles of association.

The post Catena Media Announces Board Changes appeared first on European Gaming Industry News.

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Endorphina Partners with R. Franco Digital to Expand Reach

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The leading online slot games provider, Endorphina, has announced a brand-new partnership with R. Franco Digital, a renowned manufacturer of AWP machines. This collaboration allows Endorphina to expand its reach in the Spanish and Latin American markets.

Endorphina is one of the top iGaming software providers for the B2B market, developing online slots that cater to a wide range of slot enthusiasts. Over the years, the provider has established itself as one of the most innovative slot suppliers in the industry, dedicated to expanding its products to players worldwide.

Zdenek Llosa, Senior Partnership Manager at Endorphina, said: “We are genuinely excited to join forces with R. Franco Digital, a trusted name with a rich legacy in the Spanish and Latin American gaming world. Partnering with a platform that shares our passion for quality and player satisfaction is truly inspiring. Together with the R. Franco team, we look forward to creating memorable, fun experiences that bring joy and excitement to our shared communities across Spain and LATAM. This collaboration feels like the beginning of something truly special.”

Franco Digital, a subsidiary of the Recreativos Franco Group, has been known for providing its customers with the best turnkey solutions for over 50 years. As a pioneering manufacturer of AWP machines, R. Franco Digital is founded on an innovative company culture that uses the best methodologies and technologies available, working with talented and disruptive people to deliver the best solutions.

“At R. Franco Digital, we are always striving to enhance our platform with innovative, top-quality content that resonates with our audiences, particularly in Spain and Latin America. Partnering with Endorphina allows us to bring a fresh, engaging catalog of games to our players, combining our platform’s power with Endorphina’s creativity and expertise. This collaboration underscores our commitment to delivering premium gaming experiences tailored for Spanish-speaking markets,” said Javier Sacristán, International Business Director of R. Franco Digital.

The post Endorphina Partners with R. Franco Digital to Expand Reach appeared first on European Gaming Industry News.

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