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Special Interview: A Conversation with Tom Farrell, CMO of ClearStake

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Affordability is currently the word on everyone’s lips. Operators continue to face a ‘sustainability conundrum’ – they must fulfil their regulatory obligations and commitments to player protection, while ensuring their business remains profitable. For many, affordability can spell disaster, with up to 90% of customers lost when asked to prove they have the money they are wanting to spend. However, using Open Banking to carry out these financial checks as quickly as possible may be the answer to boosting retention and retaining otherwise lost revenues.

The DCMS recently published a public consultation on the UK gambling White Paper, while the Gambling Commission launched its own on financial risk checks, bringing their importance of affordability to the top of the agenda – but operators must now strike the balance between minimising harm and maximising revenue. Affordability checks that take too long risk sending customers to competitors, or worse, the black market.

One of the key remedies to the high level of churn experienced in the past is making sure financial risk checks can be carried out quickly and with as little friction as possible, so that customers can complete them with as much ease as approving a payment while online shopping. Operators have to reach a decision quickly because the longer players wait, the more likely it is they will go elsewhere while they’re waiting.

Of course, there are some people who under no circumstances will share financial data with someone like a gambling operator. There’s also a group of people who won’t share data because they know they are gambling beyond their means. This is of course the system working as it should and that’s a good thing. But there’s a third group of people for whom it’s too much effort. They’re asked to provide bank statements, at which point they go to a competitor, as the hoops they have to jump through are not worth it.

For a customer using Open Bank technology, such as ClearStake, what used to involve downloading and printing bank statements and a wait while the operator reviews the data, now takes just 30 seconds and a few clicks. A decision is recommended to the operator immediately and theoretically, the whole process can take less than a minute. Players click a link, and they are taken to a super slick and simple process where they press a couple of buttons and the relevant financial data is shared securely. They are always in control of their data and they can revoke permission at any time.

Our software categorises every transaction and we can calculate whatever the operator wants to see. It could be disposable income, net gambling spend, total income, or current balance on the account. Our software can also evaluate the rate of change so operators can see accelerating gambling spend or consistently declining savings and work out if the player’s gambling activity is still within the safe bounds of their current financial position.

Without responsible gaming and Enhanced Due Diligence (EDD) checks, gambling risks being over-regulated out of existence as the product will become unprofitable. To answer the sustainability conundrum many operators face, we need to find a middle ground. Sustainability means not letting people spend beyond their means. It means letting people have a bet if they can afford to, while not taking more money than they can spend.

Over the last two or three years, the Gambling Commission got strict on affordability checks. They asked operators how they know someone could afford to lose ‘x’ amount. The White Paper effectively agreed with the Gambling Commission and has clarified that if someone is losing £2,000 in the space of three months or £1,000 in one month, operators should be confident about the player’s financial situation. The headline was that affordability and EDD checks should be taking place.

This discussion around affordability is not only limited to the UK, and we are seeing lawmakers and regulators in several other countries considering measures in this area.

The industry therefore needs to be proactive as the problem will never go away if it keeps allowing people to bet money they don’t have. In the public mind, gambling will have the same fate as cigarettes which are currently being regulated out of existence.

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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BLAST Premier Spring Final 2024 analytical insights from GG.BET & Esports Charts

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The esports analytics service Esports Charts, in collaboration with betting brand GG.BET, widely known for its promotion of esports, has published extensive game and betting data for BLAST Premier: Spring Final 2024. The stats reveal how the players and teams performed, and provide insights into who viewers bet on the most.

The final stage of the BLAST Premier Spring Final 2024 Counter-Strike 2 tournament took place from 12 to 16 June. Over 18,000 spectators gathered at the OVO Arena Wembley in London for the tournament playoffs. It was the first time the UK had hosted a Counter-Strike event on such a scale for six years.

Esports Charts analyzed the event and published a series of reports with reviews of the teams’ and individual players’ greatest achievements in the tournament. Before it started, the analytics service published a retrospective review of the viewership of BLAST Premier Spring tournaments over previous years, statistics on the popularity of different team members among Twitch stream audiences, and exclusive data on which teams GG.BET users bet on to win in the tournament.

After the tournament ended, Esports Charts shared its results. The collection of infographics included data on teams’ performances, such as the most spectacular comebacks and wins in rounds with the lowest budget for purchases. They also show betting statistics, such as which teams’ wins produced the most winnings. The final set of information shows how players performed and contains exclusive betting data on individual performances like total deaths and total kills.

GG.BET press office:

“The publication of insights into major CS2 tournaments is becoming a tradition. In March of this year, we shared insights into the first CS2 Major in history. Specialists from both GG.BET and Esports Charts dive deep into the tournaments, analyze a huge quantity of data, and therefore have the chance to monitor exciting esports community trends. We’ll also continue to share the insights we find in the future.

Analytics service Esports Charts is famous for its extensive analysis of esports streams. GG.BET is an international betting brand with a wealth of expertise in esports. Thanks to their joint collaboration, both companies have been able to provide information that the esports community wouldn’t normally consider.

The post BLAST Premier Spring Final 2024 analytical insights from GG.BET & Esports Charts appeared first on European Gaming Industry News.

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GGPoker Launches Second Year Of microFestival Online Poker Series with $10 Million Guaranteed Prize Pool

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GGPoker is thrilled to announce the return of its microFestival, the world’s largest micro stakes poker festival, running from June 23 through July 7, 2024. With an impressive $10 million in guaranteed tournament prizes, this year’s series promises to be even more exhilarating for poker enthusiasts of all levels.

GGPoker’s microFestival stands out as the premier online poker event for players with modest bankrolls, featuring No-Limit Holdem, Progressive Knockout (PKO) and Pot Limit Omaha tournaments with buy-ins from just $1. The highlight of the series is the $10.80 Mystery Bounty Main Event, which boasts a staggering $1 million guarantee and a top mystery bounty of $100,000.

Adding to the excitement, GGPoker has introduced a unique freeroll promotion to ensure every participant feels like a winner. Players who fail to cash in any microFestival event will receive a free ticket to one of three $5K freeroll tournaments held the following day. This “Second Chance” offer gives all players another opportunity to win cash prizes, reinforcing GGPoker’s commitment to providing exceptional value and entertainment. In total, 50 freerolls will be held, awarding $250,000 in prizes.

Sarne Lightman, Managing Director of GGPoker, expressed his enthusiasm for the upcoming series: “We are incredibly excited to bring back microFestival for a second year, with bigger and better tournaments and prizes. GGPoker’s goal has always been to make poker accessible and enjoyable for everyone, and with events starting at just $1, microFestival offers incredible value and excitement. Adding Second Chance freeroll tournaments is our way of thanking our players and ensuring everyone has multiple opportunities to win big.”

GGPoker’s microFestival 2024 is set to attract a diverse and dynamic field of players, from newcomers looking to dip their toes into online poker to seasoned veterans seeking to showcase their skills in a low-stakes environment. With a packed schedule of events and millions of dollars on the line, the series promises unforgettable moments and life-changing wins.

The post GGPoker Launches Second Year Of microFestival Online Poker Series with $10 Million Guaranteed Prize Pool appeared first on European Gaming Industry News.

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Week 25/2024 slot games releases

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Here are this weeks latest slots releases compiled by European Gaming

Spinomenal has expanded its otherworldly Demi Gods Series with the addition of Atlas Unleashed. This epic slots saga unfolds in ancient Greece where the gods rule the reels. The 5×4 design is brought to life with sharp graphics and a momentous soundtrack that lures players into the action. Three Free Spins symbols will instantly launch the feature and will award players with 10 Free Spins. Four Free Spins symbols will award 25 Free Spins and five will gift 50 Free Spins.

Forget the dusty saloons of Deadwood R.I.P, the TV dreams of Loner and the spicy dungeons of Kenneth Must Die. This time, you’ll find yourself stranded on a lush island paradise, but paradise takes a dark turn when you discover a Tiki collector with a taste for shrunken heads! Hunted with no food or water, players must face the base game, which features a Progression Bar, where each fallen head is collected. Filling it up will unlock Soul Wilds that progressively increase in size and power. Wild Symbols add 3 points, High Paying Symbols add 2 points and Medium Paying Symbols add 1 point to the bar.

 

A blistering experience awaits in Blueprint Gaming’s latest offering Cash Strike Hotstepper, as a host of thrilling mechanics take centre stage, including the eye-catching Hotstepper feature offering lavish cash rewards. Stepping into a retro 3×3 grid, a feast of fruit symbols is accompanied by flaming gold coins with the title’s five pathways offering a mammoth 50,000x the original bet. All cash symbols or fixed jackpots on reels one or three are awarded when they land alongside the sizzling Cash Strike Collect symbol on reel two.

Inspired Entertainment and Paddy Power, the retail division of Flutter Entertainment plc, proudly announce the launch of Paddy Power Gold Cash Freespins, a custom game that combines the distinctive branding of Paddy Power with Inspired’s renowned Gold Cash Freespins theme. Set against the iconic green backdrop of Paddy Power’s signature colour scheme, Paddy Power Gold Cash Freespins is a 5-reel, 4-row, 40-winline slot game packed with branded Wilds and symbols, as well as other player-favorite features.

The post Week 25/2024 slot games releases appeared first on European Gaming Industry News.

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