This week in gambling news, recent data published by the European Gaming and Betting Association suggest that in 2020 the total gambling revenue in Europe will drop 23%. A new report from the Australian Banking Association has advocated for the prohibition of the use of credit cards when gambling. Verizon Media and Entain have partnered to produce new proof of concept technologies and experiences with VR, AR, and 5G for sports betting. In a recent interview with Wirtschaftsforum, Jens Hilgers spoke about his future at Bayes Esports and their reworking of its software and a complete overhaul of the odds system in 2021.
Gambling revenues in Europe will drop 23% but the online market will grow
According to new data published by the European Gaming and Betting Association (EGBA) in partnership with H2 Gambling Capital, Europe’s total gambling revenue will drop 23% this year, from €98.6 billion gross gaming revenue in 2019 to €75.9 billion in 2020.
The data also suggests that the revenue generated by online gambling will increase by 7% this year, from €24.5 billion in 2019 to €26.3 billion in 2020. This is in spite of the fact that the whole gambling industry saw a major decrease in the 2nd quarter of the year after the cancellation of most major European sporting events.
The new data also shows the potential for growth in the mobile betting market. They expect that mobile devices like smartphones and tablets will account for 45.6% of Europe’s online gambling revenue in 2020 and that in 2022 it will reach 50.8%. In two more years, the mobile online market will surpass the desktop market.
New report puts Australian credit card gambling at risk
A new report from the Australian Banking Association (ABA) called The Every Customer Counts report is based on 40 written submissions from betting operators, gambling counselors, consumer advocates, academics, and government agencies, as well as 813 submissions from the general public.
The report comes down heavily in favour of banning the use of credit card-based gambling. The report notes:
“the associated risks were considered to significantly outweigh any potential benefits for customers, especially for vulnerable populations.”
Those in the report that argued against the ban suggested that Australia’s betting industry is already heavily regulated. They also believe that the ban on credit card gambling does not deal with the underlying issues surrounding problem gambling.
While this ban may be an overall good move to fix some of the symptoms of problem gambling, the ban could have a negative effect on lotteries, and it may even push some gamblers to international betting sites that may operate outside of Australian regulations.
Verizon Media and Entain partner up to provide VR, AR, 5G for sports betting
Verizon Media and Entain have formed a global alliance in order to collaborate to develop a first-of-its-kind, immersive VR experience that combines live sports viewing with interactive layers of sports data and gaming.
This partnership coincides with new research by YouGov that shows that the use of technology is shaping consumer behaviours in gaming and entertainment around the world more and more every year, especially in the United States and Australia.
The two organisations will produce a proof of concept virtual reality experience that will combine live sports viewing with interactive layers of sports data and gaming. This means that users will be able to watch live sports, check data, socialize with friends, and place bets on Entain platforms.
They are also producing other proof of concept technologies with emerging technologies like 5G, virtual reality, and augmented reality but the information on what sort of new innovations we might see is fairly light at this moment.
Bayes Esports: Interview with Jens Hilgers
This week the CEO of Bayes Esports, Jens Hilgers, spoke to Wirtschaftsforum about the future of his company and the growth of the esports betting market.
He claimed that Bayes Esports, a large provider of esports data, will carry out a generational change to its software and a complete overhaul of the odds system in 2021.
“It is still a high priority for us to get new suppliers onto the platform. In addition, we are in the process of completely overhauling our odds system and significantly improving the quality of the odds we offer, and significantly expanding our sales activities once again.”
After the COVID-19 pandemic shut down most traditional professional sports, the esports scene, especially the betting market saw a major uptick in traffic and interest. Bayes Esports and other data providers are now able to capitalize on the moment to expand their businesses.
Now that Hilgers is stepping down from managing the day-to-day operations at Bayes Esports, he is keen to look towards the future:
“I’ve always been interested in financing new and exciting companies and helping them develop. The feeling of being able to play a key role in shaping and influencing the industry appeals to me. Society is changing with computer games. The young generation is already living it. However, society does not yet understand that digital and analogue reality will merge. Even today, young people no longer perceive these as different worlds, but as a synthesis.”