Latest News

BGC: Compulsory Affordability Checks Threaten Regulated Betting and Gaming Industry, Warns Major Report by EY

Published

1 year ago

December 14, 2022

Reading Time: 3 minutes

Britain’s regulated betting and gaming sector has urged Government to publish a White Paper that delivers for business and punters, after a new study showed affordability checks are already hitting revenues.

Research by EY for the Betting and Gaming Council confirmed the sector remained robust despite the pandemic and was now weathering the energy crisis and cost of living crisis.

However, the enforcement of tougher affordability checks, have contributed to reduced revenues, the study said.

The report backs up recent polling which showed nearly 70% of people who place a bet said they would be unwilling to allow regulated firms to carry out compulsory affordability checks to prove they can afford to wager.

According to EY, despite the external pressures facing all businesses, which have been exacerbated by affordability checks, BGC members’ total Gross Value Added contribution to the UK economy was £7.1bn.

Meanwhile the industry supports 110,000 jobs on high streets, in hospitality and in global tech powerhouses.

The contribution to the Treasury from regulated betting and gaming remained significant at £4.2bn annually.

Across the industry, overall Gross Gambling Yield – total revenues after winnings have been paid but before costs are deducted – was slightly up on 2019 despite massive global volatility.

A new White Paper setting out new laws for the Gambling Industry is expected within weeks. In expectation of Government limits on spending, BGC members have already started applying more stringent checks, which are hitting revenues.

The EY study, noted: “Online GGY has declined since mid-2021, probably reflecting the re-opening of physical venues, the introduction of affordability checks on online, and the decline in real household incomes.”

The decline in the online regulated betting and gaming sector as a result of factors including the impact of affordability checks could push customers to the black market, the study warned.

The EY study, said these pressures, “could in turn lead to leakage to the black market, i.e. operators offering remote (mainly desktop and mobile) gambling products that do not hold a UK Gambling Commission license for remote gambling.”

European countries applying tough sanctions on betting, including restrictions on stakes, blanket affordability checks and curbs on advertising, have witnessed an increase in black market betting.

Norway’s black market now accounts for over 66% of all money staked, in France it is 57%, while in In Italy 23% of money bet is on illicit sites.

The figures have prompted renewed calls from the BGC to end the uncertainty presented by the Government’s delayed review of gambling laws, and ensure any new regulations put industry on a sustainable foundation for future growth.

CEO of the Betting and Gaming Council Michael Dugher said: “The UK’s regulated betting and gaming sector is a genuine global leader. Some 22.5m adults enjoy a wager, on the lottery, on bingo, on any number of sports, online and in casinos.

“Our members pump billions into the economy, support the Treasury with more billions and support over one hundred thousand jobs.

“But this contribution is never guaranteed. This industry needs to thrive if it is to maintain its status as a global leader.

“As ministers consider the regulatory framework for this industry, they should stop and think, and ensure the decisions they make support a sustainable future.

“This is a sector that is ready to invest, on hard-pressed high streets through bookmakers, in tourism and hospitality through world-class casinos and online where our tech giant members are looking to increase the number of apprentices they hire.

“We urge the Government to find an evidence-led, balanced White Paper that protects the vulnerable, allows the vast majority who bet safely to continue to do so, and crucially allows business to thrive.”

The Government has promised a White Paper outlining a review of current Gambling legislation within weeks.

The industry standards body, the BGC, has launched 20 standards and initiatives since it was established three years ago to drive up standards.

Michael Dugher added: “This industry is serious about safer gambling, and it’s encouraging that the rates of problem gambling among UK adults remains low by international standards at 0.3 percent.

“We want to see technology used to ensure checks on spending are carefully targeted towards the vulnerable, not the vast majority who show no signs of harm.

“But without Government clarity on affordability checks, our members are concerned they are driving frustrated customers to the unsafe, unregulated black market.

“These sites have none of the safer gambling tools employed by our members, do nothing to protect young people, don’t invest anything in the sports we love like horse racing, rugby, darts and football and crucially don’t contribute a penny in tax.”

Latest News

Meridian Donate: Revolutionizing CSR in the Betting and Gaming Industry

Published

3 days ago

May 3, 2024

George Miller

Reading Time: 2 minutes

Innovative engagement strategy positions MeridianBet as a leader in CSR within the betting and gaming industry
Optimized brand loyalty as active customer participation in CSR strengthens connection and loyalty
Scalable impact, as the model is designed for expansion and could be adapted to new markets, indicating potential for widespread adoption and growth

Transforming Customers into Environmentalists and Humanitarians

MeridianBet’s pioneering initiative, Meridian Donate, is transforming the betting industry by engaging customers directly in corporate social responsibility (CSR) actions. This unique platform allows customers to actively participate in and fund various environmental, societal and humanitarian projects, setting a new standard for customer engagement and community impact.

Key Features of Meridian Donate:

Direct customer involvement: Customers are not just donors but active participants in CSR decisions
Diverse programs: Offers choices from global afforestation to local humanitarian efforts
Partnerships with renowned organizations: Collaborates with entities like the Red Cross and UNICEF

Expanding Impact: A Year-by-Year Growth

The Meridian Donate platform has seen substantial growth in its scope and impact:

Number of individual campaigns: Grew from 8 in 2021 to 20 in 2023
National markets Integrated: Expanded from 3 in 2021 to 8 in 2023
Direct Beneficiaries: Increased from 43 NGOs in 2021 to 159 in 2023

In 2023 alone, the platform’s expansion into eight markets facilitated 20 customer-funded campaigns, directly benefiting 159 NGOs, up from 122 the previous year.

Continued Commitment to Innovation and Community Involvement

Meridian Donate not only showcases MeridianBet’s dedication to CSR but also redefines the role of digital marketing within the industry. By converting sports bettors into active CSR participants, Meridian Donate enhances customer loyalty and brand value, making it a critical element of MeridianBet’s market strategy.

Recent Successes and Future Outlook

In its recent operation, Meridian Donate has launched an ambitious global afforestation initiative, committing to plant 20,000 seedlings across various regions. This project not only underscores our environmental commitment but also enhances our brand’s community presence. Already, several hundred contributions have been recorded in the platform’s first month, indicating robust customer engagement and support.

The post Meridian Donate: Revolutionizing CSR in the Betting and Gaming Industry appeared first on European Gaming Industry News.

Latest News

Imagine Live Launches Casino Hold’em

Published

3 days ago

May 3, 2024

George Miller

Reading Time: < 1 minute

Imagine Live proudly unveils its latest game addition – Casino Hold’em. This thrilling new game promises to elevate the poker experience for enthusiasts and novices alike, combining the excitement of traditional Texas Hold’em with the thrill of live casino action.

Casino Hold’em offers players a dynamic and immersive gaming experience. With sleek graphics, intuitive gameplay, and live dealers, players will feel seated at a high-stakes table in a world-class casino right from the comfort of their homes.

Key features of Casino Hold’em include:

Neon-lighting Studio: Casino Hold’em has a very inviting atmosphere. It features an elegant, well-designed studio with neon lighting that evokes a sophisticated gaming environment.

Captivating Gameplay: Stunning graphics and seamless gameplay transport players to the heart of the action.

Bonus Bet: In Casino Hold’em, players can place a Bonus bet alongside their initial Ante bet. Even if the Play bet is lost, the Bonus bet remains unaffected and can still be won if the specific hand criteria are met.

Multiplatform Compatibility: Enjoy Casino Hold’em on desktop, tablet, or mobile devices, allowing players to play anytime, anywhere.

“We’re thrilled to introduce Casino Hold’em to our players,” said Mikayel Aznauryan, Chief Product Officer at Imagine Live. “At Imagine Live, we’re committed to delivering premium gaming experiences, and Casino Hold’em is no exception. With its blend of live action, strategic gameplay, and neon design, we believe it will quickly become a favorite among poker enthusiasts worldwide.”

The post Imagine Live Launches Casino Hold’em appeared first on European Gaming Industry News.

Latest News

Relax Gaming increases Italian presence via Octavian Lab aggregation deal

Published

3 days ago

May 3, 2024

George Miller

Reading Time: < 1 minute

Relax Gaming, the iGaming aggregator and supplier of unique content, has further increased its footprint in the Italian market with Octavian Lab.

Octavian Lab is a software house and service provider for online gaming suppliers. Led by highly specialised technicians, the company is committed to the development of products, protocols and integrated solutions in key regulated iGaming markets.

This partnership will see Octavian Lab’s operator partners in Italy, including leading sportsbook and casino Eurobet, gain access to a host of popular Relax Gaming titles.

Eurobet players are now able to enjoy timeless classics from Relax Gaming including the hugely popular Money Train series, Wild Chapo 2 and Marching Legions.

Gianluca Crimaldi, Director of Italy at Relax Gaming, said: “In order to continue our hugely successful trajectory in key markets such as Italy it is imperative that we continue working alongside some of the industry’s best aggregators.

“We are delighted to partner with the talented team at Octavian Lab who are helping ensure our games reach Italian players via the country’s top operators.”

Emanuele Nocentelli, CEO of Octavian Lab added: “We are proud of our partnership with Relax Gaming, one of the industry’s leading providers of high-quality games. It’s fantastic to be distributing their portfolio via our Gaming and Aggregation platforms and we are confident that Relax content will resonate with a wide audience of players across Italy. We look forward to maintaining and building upon this partnership for a long time to come.”

The post Relax Gaming increases Italian presence via Octavian Lab aggregation deal appeared first on European Gaming Industry News.