How is the iGaming industry coping with coronavirus, and what does the future hold?

The iGaming industry has led the way in pivoting to a work-from-home business model during the COVID-19 crisis, but there is no doubt that the pandemic has had a massive impact on industry events.

With this is mind we thought it was the perfect time to get an insight from Pierre Lindh, Managing Director of Ambassador Events – organiser of one of the industry’s most anticipated summits, iGaming Next, Malta ’20.

Hi Pierre, thanks for joining us. First up, can you tell us how iGaming NEXT differs from other trade shows, and if you were inspired by other events?

Inspired by conferences like WebSummit, iGaming NEXT puts the content as our primary focus, which strangely you don’t see much at other large trade shows within our industry where the conference is generally pushed to the corner.

iGaming NEXT is a content driven conference focused on the future of iGaming and we discuss big ideas, we connect industry leaders and we bring the industry closer together to face the larger challenges and opportunities that face our industry. Our obsession with high level content and knowledge sharing is what makes us different.

With iGaming NEXT going digital due to the COVID-19 crisis, are you still planning to host a physical event later in the year too?

Great question! While we are keeping a close eye as the situation develops, we are still pushing ahead as planned with iGaming NEXT on the 29th and 30th of September with confidence. We are in close discussion with our partners and while we are confident that we will be able to go ahead, we are also preparing back-up solutions in case we would deem it unsafe to run the event. The partners have been very supportive which is great!

Do you think the shift to home working sparked by the COVID-19 crisis will last?

This is a hot potato within the HR-departments at the moment and through our iGaming HR Forum, HR Connect, we have been discussing this a lot lately. The consensus seems to be that no, generally people want to go back to their offices, but the anticipation is that employers will be much more lenient when it comes to letting their employees work from home.

Personally, I’m surprised actually of how much more productive I am right now. I can take meetings more efficiently via Zoom without having to account for travel time and so on. On the other hand, I miss being around my employees.

Expanding on that, there are clearly many benefits to working remotely, but do you think it inflicts a mental toll, given people are fundamentally social animals?

I think the combination of working remotely, the fact that society is closed and the anxiety some experience with what is happening overall is what puts some at risk. Certain risk groups such as expats who live by themselves who might not always have close social connections to lean on. HR’s have a huge responsibility right now to ensure that their staff is coping but even us as individuals have a responsibility to check up on our friends and loved ones from time to time.

So, all things considered, what is the most exciting trend in iGaming right now?

From an event organiser point of view who has been in the igaming industry for the last 15 or so years, I would say the digital events. The more we research them, the more we understand their power to connect the industry, generate business and share big ideas, which is what you want out of an event in the end of the day, so to be able to offer that in a much more cost efficient and resource efficient way is very exciting.

However, we should not underestimate the power of in person interaction, and those events will always have an important part to play, but I absolutely believe that there will be a space in the market for digital events even after this crisis subdues.

And, we have to ask, with new regulations and rules coming into force almost every day, do you think iGaming is being stifled by over-regulation, particularly in terms of advertising and marketing?

From an outsider’s point of view, it seems to me that the industry became too aggressive in their marketing, particularly in Scandinavia, which angered the population and turned the question political, and here we are.

Politicians are tightening restrictions on the industry as a political tool to win votes. With that in mind, the industry needs to cooperate much more to change the perception from an industry that only brings problems, to an industry that is fun for the customers. The good news is, that several industry organisations are working hard together with its members on these initiatives. This is no easy task of course but changing the tone of the marketing is important.

Finally, as we are both based in Malta, do you think the country can retain its status as Europe’s iGaming hub as the industry continues to evolve?

Yes, Malta will remain the hub of gaming for a long time to come. There is an unparalleled iGaming ecosystem in place in Malta from the many years of gaming operations here. Everything from robust political backing, rather than counter-action which you see in most other countries. Malta is English speaking which is a huge advantage as well.

The trend towards remote work will only make Malta’s spot as the hub of gaming in Europe stronger, as more people will be able to spend 50% of their time in Malta, and 50% in their home countries, which removes a hurdle for people who might not be comfortable to 100% commit to a permanent move from day 1.

Its certainly an interesting time to be in iGaming! So, if you want to find out more and join the debate, we recommend heading over to https://igamingnext.com/ and securing your online seat for the upcoming iGaming Next Online digital summit, taking place from 4-6 May 2020.

In the meantime, it’s a big ‘thank you’ to Pierre for sharing his thoughts on some fascinating issues.

See you at the digital summit!

All original content featured on this site is © Pentagon Digital Limited, 2020.

Estonia is finding out imposing restrictions on gambling during the COVID-19 crisis can have serious implications, as tax revenue plummets and paralyses programs.

Concerned by the prospect of excessive gambling during the COVID-19 induced lockdowns, Estonian authorities imposed sharp restrictions on the country’s gambling industry.

However, those restrictions have resulted in gambling tax revenue crashing by a third during February, with an even bigger drop expected to be seen in March and April. Unfortunately, this means several social welfare projects, financed by gambling tax through the Ministry of Social Affairs, are now facing a funding shortfall.

Discussing the situation deputy secretary-general for social policy at the ministry, Rait Kuuse, said:

“The fall in gambling tax receipts will undoubtedly put great pressure on the ministry to finance agreed projects.

“Our goal, in cooperation with our partners, is to find an opportunity to continue the agreed activities and, if necessary, to make new decisions together in certain places, if, for example, the implementation of what was agreed proves impossible due to the implemented restrictions.

“We have asked all partners to review the activities planned for this year and to reevaluate which activities it is reasonable to realize in view of the emergency situation and whether anything can be postponed.”

According to the Tax and Customs Board (MTA), gambling tax receipts were distributed with 45% coming from lotteries, 34% from slot machines, 5% from casino gaming tables, 4% from toto, and 10% from online and remote gambling.

AYO.NEWS says:

With the clamour in many quarters to shut down or drastically reduce gambling during the COVID-19 crisis, the negative consequences are frequently overlooked. In many countries, the gambling industry makes a very important contribution to tax revenues – with tax often being ringfenced for education, social welfare, and other good causes.

Any restrictions, whether they be the closing of physical gambling venues or restrictions and limits applied to online gambling, coupled with the virtual cessation of sports betting, will have very real funding consequences for many projects.

AYO.NEWS says features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited.

All original content featured on this site is © Pentagon Digital Limited, 2020.

Online casino game provider NetEnt has gone live in the regulated Colombian market with operator Rush Street Interactive.

After signing a deal with Rush Street Interactive LLC earlier this year, a selection of NetEnt’s table games, including Blackjack and two versions of Roulette, have now gone live with RushBet.co – marking NetEnt’s debut in Colombia.

The company says it plans to launch a wider selection of games, including its popular slots throughout 2020.

Commenting on the news General Manager of Rush Street Interactive Colombia, Omar Calvo, said:

“We are so pleased to expand our partnership with NetEnt to bring these top quality and well-known casino table games to RushBet.co players, NetEnt’s Blackjack and Roulette games are already among the most popular table games on our sites in the United States and we know players in Colombia, who appreciate top quality table game content, will love playing these games online at RushBet.co.”

While VP Commercial NetEnt Americas LLC, Brian Kraft, added:

“We’re excited to enter the Colombian online casino market and Rust Street is a great first partner to begin this journey with. The Colombian market is growing at a fast pace and I’m confident that our games will be well received by players.”

Staying with NetEnt, last month we reported the developer had announced 120 full-time redundancies in Stockholm and Malta, as it finalised its acquisition of slot developer Red Tiger.

All original content featured on this site is © Pentagon Digital Limited, 2020.

Åland Islands-based gambling operator Paf is becoming less dependent on high rollers, as it sees revenue from big spenders fall, but profits increase.

The operator, which in 2018 became the first to introduce mandatory loss limits, and last October reduced them from €30K to €25K, says revenue from those losing at least €30,000 fell by a massive 67% year-on-year, to just €3.2m.

Specifically, Paf reported that the number of customers who lost €30K or more last year dropped from 0.13% to 0.04%. Meanwhile, revenue from players losing between €0.01 and €8,000 grew by 10% to €79m. Total gross gaming revenue (GGR) for 2019 was up 4% to €102.8m, while profit was also up 4% to €25.6m.

Paf has also confirmed it will be paying a dividend of €40m to the Åland Islands government to help fund COVID-19 (coronavirus) relief efforts.

Reflecting on the results Paf Chairman, Jan-Mikael von Schantz, said:

“We would like to express our sincere thanks to the management and staff for their excellent work. The importance of Paf’s contribution to society appears to be extraordinarily high in situations such as these.”

While Paf CEO, Christer Fahlstedt, added:

“We believe in openness and that openness gives strong credibility to discussions about responsible gaming. We are proud and happy that our development is going in the right direction.”

AYO.NEWS says:

While Paf’s strategy seems to be paying off in terms of business , many would argue it doesn’t really address the majority of problem gambling cases – as for the vast majority of problem gamblers, financial crisis would start well before they hit a €25K loss limit.

Staying with Paf, last month we reported Paf had significantly expanded its Swedish footprint with the acquisition of Malta-based, Swedish-licensed Mandalorian Technologies – operator of brands including No Account Casino, No Account Bet, and Prank Casino.

AYO.NEWS says features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited.

All original content featured on this site is © Pentagon Digital Limited, 2020.

Catena Media’s affiliate brand AskGamblers has pledged to donate €50K to UNICEF to help with COVID-19 relief efforts.

The money was originally raised at the AskGambler’s Charity Night, which took place in Belgrade, Serbia, in January. Catena Media will now ensure €50K will be donated to UNICEF to help it provide relief in the ongoing COVID-19 crisis.

AskGamblers has thanked its casino partners who took part in the charity event, with Vice President Nikola Teofilovic saying:

“We’re all aware of the fact the battle between humanity and the coronavirus pandemic is going to be a long journey, but we truly believe it is our responsibility to help protect the most vulnerable ones who are fighting this dangerous disease.

“We have decided to divert €50,000 to support our local hospitals with the necessary resources to save lives in the fight against COVID-19.”

AYO.NEWS says:

Despite the damage the ongoing COVID-19 crisis is causing to the global economy, its great to see companies and individuals across the gambling sector come together to support good causes.

Earlier this month, members of the UK’s Betting and Gaming Council (BGC) donated GBP £2.6m raised during the Virtual Grand National to the National Health Service (NHS),  while bet365 owner Denise Coates awarded a £10m grant to an NHS hospital trust, and the UK’s National Lottery announced a £300m contribution to the COVID-19 relief effort.

AYO.NEWS says features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited.

All original content featured on this site is © Pentagon Digital Limited, 2020.

Portugal is set to introduce online gambling restrictions for the duration of the COVID-19 (coronavirus) crisis.

A bill demanding action to limit online gambling during the crisis, introduced by members of the environmentalist Partido das Pessoas, dos Animais e da Natureza (PAN), has been passed by the Portuguese parliament.

Though the bill doesn’t detail specific restrictions, it demands “partial or total limitations on access to online gambling platforms.” It also referenced neighbouring Spain, which has restricted audiovisual gambling communications to between 1am and 5am for the duration of the lockdown.

The authors of the bill claim that online gaming revenue has increased 18% year-on-year in Portugal since the country entered a state of emergency on 18 March.

The bill came into effect on 9 April, giving the Portuguese government five working days to introduce the regulations – which means they should be in effect from next Monday. The regulations will stay in effect until the state of emergency in the country is lifted.

The bill was supported by the governing Socialist Party, the Left Bloc, Unitary Democratic Coalition, the Libertal Initiative and Libre parties. It was, however, opposed by the main opposition party, the Social Democrats, along with the CDS People’s Party and Chego.

AYO.NEWS says:

As we have said before, the longer the COVID-19 crisis drags on, the more likely we are to see draconian online gambling restrictions and bans. In addition to Portugal and Spain, we’ve also seen weekly wagering limits introduced in Belgium, while Swedish operators have been warned of “extraordinary measures” unless they reduce online gambling activity, and regulators in the UK and Malta have urged operators to maintain the highest standards of social responsibility to avoid further measures.

AYO.NEWS says features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited.

All original content featured on this site is © Pentagon Digital Limited, 2020.