Australia live losses push, Illinois website warning
Welcome to the Weekend Report, where iGB examines the critical developments in the gambling sector over the past weekend. This week’s highlights include a significant proposal for live betting losses in Australia, a cautionary warning from the Illinois attorney general regarding illegal betting sites, and an update on Livespins’ recent licensing achievement in Malta.
Proposal for Live Betting Loss Transparency in Australia
A transformative proposal has emerged in Australia, advocating for transparency in live betting by allowing gamblers to monitor their live losses through betting applications.
Presented by independent Members of Parliament Andrew Wilkie and Rebekha Sharkie, this initiative seeks to safeguard players from the dangers of problem gambling. The MPs assert that the existing monthly statements lack the clarity necessary for players to grasp the extent of their gambling losses.
“This initiative would impose minimal costs on the government while potentially saving lives,” highlighted Sharkie in comments to the Canberra Times. “Currently, young Australians are incurring significant financial losses without a clear understanding of their situation, and this measure would help them track their losses transparently.”
The push for reform places additional pressure on Communications Minister Michelle Rowland, particularly after the retraction of a draft policy aimed at banning gambling advertisements during children’s programming and around sports broadcasts, ahead of the upcoming elections in May.
BetMakers Technology Group Acquires Protocol Zone Assets
In a strategic move within the Australian market, BetMakers Technology Group has successfully acquired various intellectual properties and software from the specialized wagering technology firm, Protocol Zone Private.
This acquisition encompasses digital tote technology, API data feeds, and proprietary trading and ratings models, which will be integrated into BetMakers’ innovative GTX software set for imminent release.
Kartik Modi, managing director of Protocol Zone, has also entered into a three-year exclusive contract with BetMakers, where he will serve as the country manager in India. His role will be crucial in overseeing local operations and exploring broader opportunities within the Asian market.
“This partnership signifies more than a mere acquisition,” Modi remarked. “It showcases the innovation and dedication our team has dedicated to developing pioneering wagering technology over several years, and we anticipate a successful journey as part of BetMakers.”
Illinois Attorney General Issues Warning on Illegal Betting Operations
Transitioning to the United States, Illinois Attorney General Kwame Raoul has issued a critical advisory for online bettors in the state concerning the potential risks associated with unregulated betting platforms.
Although several sports betting applications and websites operate legally within Illinois, unauthorized sites are also targeting local players. Recently, the Illinois Gaming Board has taken action, dispatching cease and desist letters to Bovada.com and PrizePicks for allegedly conducting unlicensed activities.
Especially in light of the approaching Super Bowl weekend, Raoul cautioned bettors to verify the licensing status of any platform they wish to engage with.
“Using an unlicensed betting service not only jeopardizes your personal information but also your financial security,” Raoul stated. “Even with a licensed service, it’s crucial to scrutinize promotional offers for any potential hidden costs or obligations.”
Bally’s Corporation Finalizes Merger with Queen Casino
In another significant development from the U.S. gambling landscape, Bally’s Corporation has successfully finalized its merger with Standard General and its affiliates, including the regional casino operator, Queen Casino & Entertainment (QC&E).
Initially announced in July, this merger consolidates Bally’s operation of four casinos across three states, which includes prominent locations like the Queen Marquette in Indiana and the Queen Baton Rouge and Belle of Baton Rouge in Louisiana.
Bally’s confirmed that both the Belle of Baton Rouge and Queen Marquette are currently undergoing significant renovations, expected to be completed by the end of the year.
Post-merger, Bally’s now manages 19 casinos across 11 states, along with a golf course in New York and a racetrack in Colorado. The company also holds online sports betting licenses across 13 jurisdictions in North America.
Livespins Achieves Malta Gaming Authority Supplier License
In closing, this week saw games provider Livespins secure a crucial supplier license from the Malta Gaming Authority (MGA).
This newly granted license empowers Livespins to distribute its innovative content to various gambling operators licensed by the MGA. The license’s confirmation was announced earlier today (10 February).
Livespins has garnered attention with its unique offering ‘Bet With Streamers,’ allowing operators to leverage the growing trend for live streaming in the online gambling sphere, enabling players to bet alongside their favorite streamers.
As part of Evolution’s esteemed portfolio of gaming providers, Livespins is poised to expand its reach significantly. Michael Pedersen, Chief Commercial Officer at Livespins, stated, “With our license secured, we are focused on striking partnerships with numerous MGA operators and extending the Livespins revolution to new markets globally.”
