We here at VirtualSportsBetting have decided that we want to provide our readers with a useful recap of the weeks betting and gambling news.
This week in the gambling industry we have seen a new review of the 2005 Gambling Act by the UK government that raised the minimum lottery age to 18. A German sportsbook operator, Tipico, has opened a new mobile sportsbook in the state of New Jersey. The sports data company SportRadar has announced a major restructuring of their leadership structure in order to improve their plans for growth. DraftKings have signed a new betting partnership with the operator of the Foxwoods Casino to launch online sports betting in Connecticut. Esports One has raised $4 million in funding which they claim will be used to expand their fantasy offering beyond League of Legends.
Review of the UK Gambling Act – Minimum lottery age now 18
The UK government has officially launched a review of the 2005 Gambling Act. They are looking into the stake and spend limits as well as new rules around advertising and bonusing. The review will also include research into extra protections for younger adults. This review and call for evidence will run for 16 weeks, ending on the 31st of March.
The government will also raise the minimum lottery age to 18 to prevent what Minister for Sport, Tourism, and Heritage Nigel Huddleston has called, “a gateway to problem gambling.” This change has not yet come into effect, but The Department for Digital Culture, Media and Sport (DCMS) has confirmed that it will be raised no later than October 2021.
Tipico launches a new sportsbook in New Jersey
The German sports wagering operator Tipico announced that their US business has launched a new mobile application for their sportsbook in New Jersey. This launch comes after their announcement in September of this year that they had secured approval from the New Jersey Division of Gaming Enforcement (DGE) to offer sports betting in their state. The company will use their existing mobile technology to run the app.
The company is offering sign-up bonuses and cash offers to new customers as well as working with the Öpinionated advertising agency to roll out a brand platform and advertising push.
New global restructuring of Sportradar
The sports integrity solutions and data products provider Sportradar has announced that they will be re-organising their business operations on a global scale to focus on a regionalised approach. They believe that the restructure will improve their plans for growth.
From January 2021, the global executive team will be reorganised. Carsten Koerl will continue to oversee the business as group chief executive, supported by three regional CEOs around the world.
- CEO of North America – Arne Rees
- CEO of UK, EMEA and Latin America – Werner Becher
- CEO of Asia Pacific – Eduard Blonk (he is currently CEO on an interim basis and is supported by his deputy, Michael Maerz)
DraftKings seals new betting partnership
DraftKings have signed a new deal with the operator of Foxwoods Resort Casino, the Mashantucket Pequot Tribal Nation, to launch online and retail sports betting in Connecticut.
The new agreement means that DraftKings will provide wagering in the state once the legislation legalising sports gambling passes. The state is yet to actually legalise sports gambling but when they do, it is expected to generate $175m in new revenue for the state in the first five years post-launch.
By becoming Foxwoods first daily fantasy sports (DFS) partner as well as sports betting, DraftKings are well positioned to make the most out of the upcoming legalisation.
Esports One plans to expand their fantasy offering
The data and analytics firm, Esports One, have raised $4 million in additional funding. They have announced that the new influx of capital will be used to improve their fantasy esports product and expand into other games.
The firm currently runs a League of Legends fantasy platform but according to the company, they are planning platforms for games like Rocket League, Fortnite, Rainbow Six Siege, and VALORANT. In conjunction with the new games, the firm is also developing iOS and Android mobile apps for its fantasy platform alongside a virtual currency for entering contests and purchasing customisations.