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UK Gambling Firms Accused of Exaggerating Scale of Black Market Betting

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UK Gambling Firms Accused of Exaggerating Scale of Black Market Betting
UK Gambling Firms Accused of Exaggerating Scale of Black Market BettingReading Time: 3 minutes

 

UK Gambling firms have been accused of concocting a “dodgy dossier” to exaggerate the scale of black market betting, in an attempt to influence an upcoming government review expected to result in tougher regulation.

Gambling industry figures recently seized on a report claiming that 200,000 people in the UK spend £1.4bn on black market sites every year, warning that tougher regulation could drive more people into the arms of “unscrupulous” operators.

But in a letter to a cross-party group of MPs examining gambling-related harm, the Gambling Commission’s chief executive, Neil McArthur, delivered a withering assessment of the report.

The boss of the gambling regulator said the report, written by consultancy PwC, was “not consistent with the intelligence picture” and did not distinguish between real consumers using black market sites and bots or other automated systems.

He said the report should be treated cautiously, adding that it lacked any evidence to show an increase in illicit betting.

“We know that licensed operators and their trade bodies are concerned about the impact of the illegal market, but our own evidence suggests that the impact may be being exaggerated,” he said.

McArthur said black market concerns should be kept in proportion “despite … reports from consultants paid for by the industry, and should not distract from the need to continue to drive up standards and make gambling safer in the regulated market.”

Such direct criticism from the regulator will be a blow for the industry lobby group, the Betting and Gaming Council (BGC), which has repeatedly referred to the report to back its arguments against stricter regulations.

The government is considering a range of measures that could involve limiting stakes on online virtual slot machines, or forcing web-based casinos to carry out thorough affordability checks if customers deposit a certain amount per month.

McArthur dismissed BGC’s suggestion that such measures could fuel a surge in black market operations.

“In any event, we are not convinced by the argument that suggests that raising standards in the licensed market will prompt consumers to gamble with illegal operators,” he said.

The Labour MP Carolyn Harris, who chairs the MPs’ group that receive the letter, said: “The online gambling industry talks up the threat of the black market in an attempt to resist regulation and protect its profits, but trying to hijack the debate by manufacturing dodgy dossiers of information to further their own ends is an incredibly transparent tactic and will not be any kind of excuse to hold down standards.”

The BGC and several of the UK’s major betting companies, which commissioned the report, refused a request to provide a copy.

But the Guardian has since obtained both a draft version, dated April 2019, and a final version, dated July 2019.

The two appear identical except that the final version removed a reference to the three firms that commissioned it, Ladbrokes owner GVC, William Hill and The Stars Group, which owned SkyBet and has since merged with Paddy Power owner Flutter.

Matt Zarb-Cousin, a former adviser to Jeremy Corbyn who runs the campaign group Clean Up Gambling, said: “The gambling industry has been quoting from this report as it attempts to drive a race to the bottom in regulation. Having finally seen the contents, it’s clear why it was reluctant to make this report available for public scrutiny.”

A BGC spokesperson said countries with tougher regulation than the UK had bigger black market problems.

“We have repeatedly called on the government to use the online harms bill to crack down on access to these sites, and we would support financial service providers being obliged to block black market transactions,” he said.


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: UK Gambling Firms Accused of Exaggerating Scale of Black Market Betting

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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Introducing Tower Rush – The latest Turbo Game Release by Galaxsys

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Galaxsys, a leading game studio in the gaming industry, is thrilled to announce the launch of its latest turbo game, Tower Rush. The game offers players a thrilling gaming experience with its innovative gameplay mechanics and exciting bonus features.

The Procedure of Conducting the Game and the Winning Options

Tower Rush challenges players to strategically place building floors on top of each other, aiming to achieve the highest possible odds. With limitless potential for stacking floors, players can create an endless chain of structures while avoiding collapses. Successfully placing a floor results in winning corresponding odds, while a collapse leads to a loss.

The Procedure of Making Bets in the Game

To start the game, players specify their bet amount and press the “Build” button. Floors are dropped from above, and successful placement results in winnings. Players have the option to cash out or continue building. Multiple successful placements increase winnings exponentially, while a collapse allows players to start a new round.

About the Game:
In Tower Rush, the goal is to avoid collapses and secure wins by successfully placing each floor. When players successfully place the floor, the winning odds for each new floor will be multiplied by one another, and upon cashing out, the bet amount will be multiplied by this cumulative odds value.

Main Highlights:

  • Up to 3 Unique Bonus Floors: In the game, there are three different ways to receive bonuses: Frozen Floor, Temple Floor, and Triple Build.
  • Unique Game Concept: Tower Rush introduces an original gameplay concept that sets it apart in the iGaming industry.
  • Dynamic Animations: As we put player satisfaction at the heart of all the design decisions, the game is designed in a way that is the most convenient for the players, both visually and functionally.
  • Bonus Systems: FreeBet and FreeAmount promotional tools provide an option to reward bonuses to the players, with the terms set by the operator.
  • Provable Fairness: We only use the most reliable and high-end Random Number Generator technologies to ensure true randomness.

Tower Rush is a unique turbo game, offering players up to three unique bonus floors, an original gameplay concept, dynamic animations prioritizing player satisfaction, and an advanced bonus system, all backed by provable fairness and latest innovation technologies.

For more information about the game please visit galaxsys.co/

 

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MGA Games presents Rainbow Gold Fortunes, a slot inspired by traditional Irish culture

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MGA Games, a leader in localised casino games for the iGaming industry, unveils a world of colour, excitement and riches in Rainbow Gold Fortunes, a casino game that immerses players in the essence of Irish culture. Starring a friendly Irish leprechaun, this new slot is filled with symbols typical of Irish culture, such as shamrocks, tankards, Celtic runes, pipes and mushrooms. Plus, traditional Irish music adds to the immersive experience.

This slot incorporates a 5×3 format with 20 paylines. Each win in the main game unleashes an explosion of excitement, replacing symbols and multiplying wins. Scatter symbols unlock access to the Free Spins screen, with even more powerful multipliers. Moreover, Rainbow Gold Fortunes features the exciting Cauldrons mini-game, which is accessed by landing three or more Bonus symbols in the main game. In this mini-game, 5 cauldrons filled with gold appear. The player must select cauldrons until all of them have been selected or Exit appears. The final prize is the sum of the accumulated prizes.

In MGA Games’ new release, the magic of Ireland and the excitement of a casino combine to deliver a unique, high-retention player experience with a variety of winning opportunities, whether in the main game, the Free Spins screen or its exciting mini-game.

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Kambi Group plc publishes 2023 Annual Report and Accounts

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Kambi Group plc, the world’s trusted sports betting partner, has today published its 2023 Annual Report and Accounts

This can be downloaded from the company website kambi.com or accessed via the PDF in this press release. The report is also available at .kambi.com/annualreport2023/.

Key highlights for Kambi during the year include:

  • A 13% increase in revenue to €173.3 million when excluding the one-off termination fee from Penn recorded in Q4 2022
  • €25.2 million in EBITA (acq)*
  • 10 new operator signings including Bally’s Corporation, LiveScore Group and Svenska Spel
  • Seven partnerships extensions including ATG, Betplay, LeoVegas Group and Rush Street Interactive
  • 60+ sportsbook launches across multiple markets in Europe, Latin America and the US
  • Repaid the full €7.5 million convertible bond previously held by Kindred Group to give Kambi full control over its future strategic direction

*EBITA (acq) = Earnings before interest, taxation, Items affecting comparability and amortisation on acquired intangible assets

The Annual General Meeting will be held on 21 May 2024 at 14:00 CEST in Birkirkara, Malta.

 

The post Kambi Group plc publishes 2023 Annual Report and Accounts appeared first on European Gaming Industry News.

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