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Q&A: Sportingwin and the Bulgaria opportunity
Reading Time: 4 minutes
Mark Chakravarti, Head of Investment at Sportingwin, talks about why the operator sees such potential in the market and how it has found the licensing process to date
Bulgaria has had a major shake-up when it comes to how gambling operators are licensed and regulated in the country with the National Revenue Agency recently taking on the responsibility.
Amid allegations of corruption among its predecessor, the State Gambling Commission, the new regulator is moving forwards with plans to issue additional licences over the coming months.
The first in line to receive such a licence is Sportingwin, which has ambitious plans for Bulgaria once it has been given the green light to launch.
To learn more about Bulgaria and the operator’s plans for the market, we sat down with Mark Chakravarti, Head of Investment at Sportingwin.
Why do you see so much potential in Bulgaria?
You just have to look at the numbers to see the potential. We estimate the Bulgaria market to be worth around £300m right now but as new operators enter the fray it could grow at a rate of 20% per year to hit £500m over the course of the next five years.
Coupled with this is the low level of competition. Only five betting licences have been issued to date and mostly to local retail bookmakers with a limited online offering. These sites simply don’t offer the depth of markets, odds and products available in other European jurisdictions.
This presents a tremendous opportunity for experienced online sportsbooks to make their mark, so long as they enter Bulgaria with a localised product that delivers a superior player experience. Those that do are very much in the driving seat to capitalise on the tremendous potential on the table.
What do Bulgarian players look for in an online sportsbook?
There is a long tradition of retail and online sports betting in Bulgaria, so players are seeking a comprehensive, quality, cutting-edge product and experience similar to that offered and found in mature markets such as the UK.
In particular, they are seeking a high volume of events, a range of bet types as well as modern features such cash out. We also believe that exchange betting, while not currently available, will be hugely popular once we secure our licence and launch the Sportingwin exchange in the market.
How will you meet those needs and localise your offering?
There are two key ways we are doing this – product and our approach to CRM. When it comes to product, we are developing a proprietary platform that is fully customisable for each market we enter, including Bulgaria. This includes localised payment options, currencies, sports, etc.
In terms of CRM, we are investing in a local customer support centre so that we can comfortably meet the staff-intensive local language CRM and marketing operations and activities we believe will enable us to communicate to and engage with Bulgarian players.
How have you found the licencing process to date?
The Bulgarian regulator has incredibly high standards and expectations when it comes to due diligence. As such, the licensing process has been a little slower than in other jurisdictions, but we are okay with this as we want to make sure we not only meet but exceed their standards.
This means taking additional steps such as appointing a dedicated Bulgarian CEO. He has a proven background in gaming and the regulator can quickly carry out the necessary checks that it needs to in order to ascertain his credibility and suitability for the role.
Owning our own technology has also allowed us to synchronise our platform with the NRA already, which in turn means we are among those on the regulator’s list of approved technologies ready for when our licence is granted.
In addition, we are a Maltese company so have requested that the Maltese consulate in Bulgaria monitor the licensing process from start to finish as our application is the first to be considered since the Nation Revenue Agency took over regulatory responsibility earlier in the year.
By having the right people on a local level, and by taking considered steps towards ensuring we meet the standards set by regulator, we expect to receive our licence in the first quarter of next year.
What has been the toughest challenge to overcome?
The toughest challenge is in respect to the due diligence and in particular the requirement of having an €800,000 investment from a local, proven source of funds. To do this, we have had to find a local banking partner which was easier said than done.
That being said, the team pulled together and we were able to find a local banking partner happy to facilitate the investment allowing us to progress through the licensing process.
What are your long-term plans for the Bulgarian market?
We want to claim 9% of the local market within the first three years. We then plan to build on this rapidly by securing further venture capital that will enable us to consolidate the market through mergers and acquisitions with local operators.
Once we have achieved the scale we are seeking, we can then effectively pursue market leader bet365. It is a tough task, but one that we are more than capable of completing thanks to the incredible team we have built out in recent years.
We also believe our cutting-edge proprietary technology and platform gives us a huge edge over the incumbent operators and brands and will allow us to compete with and defeat any other overseas operators that enter the market.
What is your long-term plan for Sportingwin?
We are currently undertaking a fundraising campaign to help accelerate our global expansion efforts, selling off more than €1m in equity.
These investments are in line with our long-term strategy for the brand which is to achieve a valuation of €50m in three years and, once achieved, would deliver a x13 increase on the current investment opportunity.
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Q&A: Sportingwin and the Bulgaria opportunity
Reading Time: 2 minutes
Play your way to a share of $100,000 each week
GGPoker, the World’s Biggest Poker Room, today announced the launch of an exhilarating new promotion designed to give players even more chances to win big: the Weekly $100K Freeroll. Starting on October 18, poker enthusiasts can compete for a share of a guaranteed $100,000 prize pool every single week, completely free of charge.
The Weekly $100K Freeroll offers a straightforward path for players to turn their everyday poker action into significant winnings. Players can claim tickets to both the Daily Freeroll tournaments or the main Weekly Freerolls in a variety of ways. The Daily Freerolls run twice every day, with thousands of Weekly Freeroll tickets up for grabs in each event.
Every Saturday at 08:00 (UTC-8), the main $100,000 freeroll tournament will take center stage, promising thrilling action and substantial payouts for hundreds of players.
How to Enter the Daily and Weekly Freerolls
GGPoker has made qualification easily accessible:
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Daily Freerolls (Run Twice Daily): Players can secure a ticket by:
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Fully completing their sign-up at GGPoker
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Making a deposit
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Playing 100 cash game hands
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Weekly $100K Freeroll (Every Saturday): Players can earn their spot in the big weekly event by:
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Winning a ticket in a Daily Freeroll
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Making a cumulative deposit of $500 or more during the week
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Refer a Friend Bonus: Successfully referring a friend (via GGPoker’s new Refer Your Friend feature) who registers and makes their first deposit will also grant a direct ticket to the Weekly $100K Freeroll for both players
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Playing 1,000 cash game hands
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“We are incredibly excited to launch the Weekly $100K Freeroll, offering our players an unparalleled opportunity to compete for a massive prize pool with no buy-in required,” said Sarne Lightman, Managing Director of GGPoker. “This promotion is designed to both reward our loyal community and welcome new players, making poker more accessible and exciting than ever. With multiple ways to qualify daily, everyone has a shot at playing for a tasty score each Saturday.”
To learn more about the Weekly $100K Freeroll, please visit: ggpoker.com/promotions/weekly-freeroll/
The post GGPoker Unveils Massive Weekly $100K Freeroll, Kicking Off October 18 appeared first on European Gaming Industry News.
Reading Time: < 1 minute
Fast Track is issuing this statement regarding an isolated incident that occurred in early October.
Fast Track experienced a highly sophisticated cyber attack that specifically targeted two clients operating on the Fast Track Platform.
Upon detection of the breach, Fast Track immediately ceased the attack and informed the affected parties.
Fast Track confirms that no other clients have been impacted by this incident.
Further details will be provided as they become available and appropriate to release.
If you have any questions regarding this incident, please email [email protected].
The post Important Information regarding Fast Track services appeared first on European Gaming Industry News.
Reading Time: 4 minutes
Here are this weeks latest slots releases compiled by European Gaming
GAMOMAT is taking players on a colourful adventure with its new title, Frooty Troupe Sun Splash. This feel-good game launches the new Frooty Troupe series, transporting players to exciting worlds, with more to be revealed in time.
Relax Gaming has launched Masked Treasures, a volatile Aztec-inspired slot packed with mystery symbols and free spins. Set deep in the jungle on a 5×3 reel layout, Masked Treasures invites players to uncover sacred rewards hidden behind ornate gold masks, with a maximum win potential of 5,000x the stake.
Evoplay has launched Hocus Pocus Sorcery, where the night comes alive with glowing gems, enchanted books, and mischievous black cat. Hocus Pocus Sorcery captures the Halloween spirit with a supernatural flair. Players are welcomed into a moonlit world of bubbling cauldrons and mysterious symbols, where each spin offers a chance to unlock powerful features and hidden rewards.
Players will feel the power of the herd and find strength in every spin in Buffalo Wild Collection, the latest slot from in-demand iGaming content provider, ICONIC21. Buffalo Wild Collection takes players to the Great Plains, where they follow these magnificent beasts towards potentially big wins.
TaDa Gaming, is hoisting the Jolly Roger for a barrel full of gold in new release Lucky Macaw. An unusual grid layout sees three reels and three rows, with the centre reel holding an extra position/fourth row, plus 10 fixed paylines. Set in Pirate Cove with the galleon anchored offshore, Captain Macaw is ready to parley with players for pirate coins and bags of gold cash symbols.
Endorphina has announced the release of its newest title, Sloteus Gold. Featuring 5 reels, 4 rows, 25 fixed paylines, and a royal treasure narrative, Sloteus Gold is now available in online casinos. This new Endorphina slot invites players on a royal adventure for King Sloteus’ Gold, where valuable coins with multipliers up to x15 are in play.
Amusnet has released its latest slot game – 40 Lucky Wilds Hot. This sizzling online slot turns the temperature up with classic charm, vibrant symbols, and electrifying winning potential. Designed with 5 reels and 40 fixed paylines, 40 Lucky Wilds Hot invites players into a world where every spin crackles with excitement.
Million Games, together with Million Stars partner studio Yugo Workshop, has announced the launch of FreakShow Hotel, a Halloween-themed 5×3 video slot designed to deliver both festive fun and serious win potential. Set inside Count Drac’s haunted hotel, the game invites players to join a supernatural banquet filled with ghosts, monsters, and high-paying surprises.
Stakelogic has unveiled its latest enchanted adventure, Leprechaun’s Loot, where Irish folklore meets inventive mechanics. Starring Pip O’Spin, a cheeky leprechaun from the emerald hills with a gift for turning rainbows into gold, the game combines playful storytelling with exciting Hold ‘N’ Win action.
Play’n GO breathes new life into ancient Chinese mythology with Bao Shi, a visually striking 5-reel slot centred around the mythical Lion God, Lioras. Set amidst mist-shrouded mountains and long-forgotten temples, Bao Shi beckons players to release Lioras from an ancient spell cast by a malevolent warlord, bringing prosperity to those brave enough to beat the drums of destiny.
Evoplay has launched Trick or Treat Joker, a spooky slot where mischief and mayhem rule the night. Led by the sinister yet charming Joker, this Halloween-themed release blends spooky visuals with classic fruit symbols for a mischievous twist on conventional gameplay. Pumpkins, cobwebs, bats, and glowing symbols create a haunting setting for an eerie adventure.
Spinomenal is celebrating this year’s Halloween with the release of its new title, Spooky Halloween. Spinomenal’s chilling slot is set within a forest cloaked in fog, surrounded by twisted trees and glowing candles illuminating the 5×4 layout. Adding to the haunting experience is an atmospheric soundtrack, echoing with eerie chimes that builds anticipation with every spin.
Amusnet has released its latest video slot, Wild Fortune. This 5-reel, 40-fixed-payline video slot features nine beautifully designed symbols. The Wild symbol expands on all reels and positions, helping players to complete winning combinations and unlock hidden treasures.
The post Week 41/2025 slot games releases appeared first on European Gaming Industry News.
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