Tag: Sports Betting

World Pool, the globe’s largest commingled horse racing pools created and powered by the Hong Kong Jockey Club (HKJC), hit new heights on 2000 Guineas Day at Newmarket, with turnover reaching £27.1 million, up from £26.1 million 12 months ago.

It was a memorable day on the Rowley Mile, with World Pool ambassador Frankie Dettori winning his fourth 2000 Guineas on Chaldean for Andrew Balding in the colours of the late Prince Khalid Abdullah. The 2000 Guineas produced the highest turnover on the eight-race card with nearly £4.7 million bet into the pool.

Pool betting operators from 28 countries now bet into World Pool, enabling racing fans from all over the globe to bet into one single pool, which creates huge liquidity and excellent value.

World Pool Moment of the Day

Funding for World Pool Moment of the Day has been boosted in 2023, with £4,000 going to the winning groom and it was Chetan Singh, groom of Chaldean, who was awarded the prize.

Singh will now go into the hat for the World Pool Moment of the Year competition – along with the other 24 global Moment of the Day winners in 2023 – with the chance to win a VIP trip for four to Hong Kong in 2024.

Michael Fitzsimons, Executive Director, Wagering Products, at the Hong Kong Jockey Club, said: “Despite the weather gods not playing ball at Newmarket, it was a bright start to the World Pool season in the UK and Ireland, and we were delighted to see turnover increase on 12 months ago.

“It was a hugely competitive race day, with interesting action for fans all over the world, but it was Frankie who stole the show once again. As we all know, he is one of the biggest, if not the biggest, stars to ever grace this sport, so to see him win his fourth 2000 Guineas on his final ride in the race was really special.

“Great credit must go to Newmarket for producing such a high-quality programme, with very healthy field sizes, and we are now looking forward to our next World Pool events at Newbury and Epsom.”

Alex Frost, Chief Executive of the UK Tote Group, said: “It’s great to see our World Pool season get off to such a strong start at Newmarket with high class racing and some fantastic results, notably World Pool ambassador Frankie Dettori winning his final 2000 Guineas.

“The Tote once again offered exceptional value, with Tote+ Win beating the SP in 4 out of 8 races and matching on the remaining races, and operating with an average overround of only 103%, versus 122% with the bookmakers. We are now looking forward to Newbury hosting their first World Pool races on Lockinge Day in a fortnight’s time.”

Sophie Able, Newmarket Racecourses and International Director, said: “2000 Guineas Day was an exceptional day of Flat racing, if a little damper than we were anticipating! We were delighted with the fields and that the changes we have made to the race programme and improvements to prize money, helped by World Pool, resulted in such competitive action on the track.

“To see Frankie triumph in the biggest race at his home racecourse for the final time was a fitting climax and we hope bettors around the world enjoyed getting stuck into what was a memorable day.”

The International Betting Integrity Association’s (IBIA) latest quarterly Integrity Report reported 40 incidents of suspicious betting activity identified by its members, who represent nearly 50% of all commercial online betting globally and over US$137 billion in sports betting turnover. IBIA’s Q1 report also highlights the importance of establishing effective integrity solutions across Latin America, particularly in Brazil, and the significant role that IBIA’s regulated operators play in identifying and deterring potential manipulation.

The 40 incidents of suspicious betting in Q1 concerned nine sports across 22 countries and five continents. Other key data for Q1 2023:

• Football had the highest number of reported alerts globally. The 15 football alerts represent 38% of all alerts in Q1.
• The 12 tennis alerts reported in Q1 2023 represent a more than 50% decrease when compared to the average quarterly figure in 2022.
• Spain is the country with the highest number of Q1 alerts. The 8 alerts on sporting events in Spain equals the total number of alerts on Spanish events for the whole of 2022.

Khalid Ali, IBIA CEO, said: “IBIA’s monitoring and alert network provides the most comprehensive, robust and detailed intelligence on suspicious betting activity globally. It utilizes detailed customer-account data that is only available to IBIA and its members and covers nearly 50% of all regulated commercial online betting. By harnessing those collective resources, we are able deploy a protective shield around IBIA operators, resulting in fewer attempts to corrupt our members compared to non-members.”

The Q1 Integrity Report also contains a targeted analysis of alerts in the Latin American market, with 105 suspicious alerts across the region during 2018-22. Brazil was the main source of alerts (31%), followed by the Dominican Republic and Mexico (10%), and Argentina and Peru (9%). Unsurprisingly, considering its importance in Brazil, football accounted for 63% of alerts, followed by tennis (21%). In total, there were 33 suspicious alerts raise by IBIA members in Brazil during this five-year period.

Khalid Ali, IBIA CEO, added: “A well-regulated sports betting market is essential to the fight against sports betting related match-fixing. All relevant stakeholders – betting operators, policymakers, regulators, and sports – have an important role to play to ensure that Brazil enjoys the full benefits of a dynamic and competitive regulated sports betting market, whilst reducing the risks of match-fixing.”

According to H2 Gambling Capital, the leading independent authority on global gambling market data, the Brazilian sports betting market grew by 44.4% from 2021 to 2022 reaching BRL4,506m (US$940m) in gross gambling revenue (GGR), and is projected to reach BRL9,265m (US$1,860m) in GGR by 2027
(105% increase).

FansUnite Entertainment Incorporated (TSX: FANS) (OTCQX: FUNFF) is pleased to announce the signing of a definitive agreement dated May 1, 2023, pursuant to which the company has sold to an arm’s length third-party all of the shares in its wholly-owned subsidiary, McBookie Limited, a Scottish private limited company.

FansUnite Entertainment Incorporated acquired McBookie Limited in March of 2020 for $2.2 million CDN in total consideration including $1 million CDN in cash. Three years later, FansUnite Entertainment Incorporated will recognize a significant profit, selling McBookie Limited for more than $5 million CDN in cash, over seven times their record 2022 EBITDA.

McBookie Limited, the dominant Scottish-focused sportsbook and online casino in the United Kingdom, has delivered three consecutive years of revenue growth. Under FansUnite Entertainment Incorporated’s ownership, McBookie Limited achieved a gross win increase of 451% and a turnover increase of 305%. Led by the strategic guidance of directors Paul Petrie and Damian Walker, McBookie Limited has seen increases in new player signups, retention and brand recognition.

“This is a great deal and outcome for McBookie Limited and for FansUnite Entertainment Incorporated,” the Chief Executive Officer for FansUnite Entertainment Incorporated, Scott Burton, said. “We began a path of streamlining and focusing our business in 2022. With the United Kingdom continuing to tighten regulations on gaming operations, we felt it was time for FansUnite Entertainment Incorporated to exit the B2C space. We will be able to focus more resources on the segments of our business that offer the highest growth potential with good margins, specifically the United States marketplace and affiliate opportunities. This sale will strengthen FansUnite Entertainment Incorporated’s balance sheet as the company moves towards being cash flow positive. I want to thank Paul and Damian for their efforts while they were part of FansUnite Entertainment Incorporated and wish them well as they continue to grow the McBookie Limited brand.”

As per the terms of the deal, Petrie and Walker will continue to serve as Directors at McBookie Limited.

McBookie Limited Business

Through McBookie Limited, FansUnite Entertainment Incorporated held a remote gambling software license and remote betting license from the Gambling Commission enabling the company to serve as a business-to-consumer (B2C) operator and business-to-business (B2B) technology provider in the United Kingdom online gambling market.

Transaction Terms

Pursuant to the terms of the definitive agreement, the company sold all of the issued and outstanding shares of McBookie Limited to an arm’s length private party for total cash consideration of US$4,016,544, subject to a working capital adjustment. The transaction is a simultaneous sign and close with the purchase price payable on closing.

Tekkorp Capital Advisors acts as a strategic advisor to the company. KWP LLP acted as legal counsel to the buyer and DLA Piper (Canada) LLP acted as legal counsel to the company.

Spotlight Sports Group has launched the 2023 edition of ‘BetTech Ecosystem,’ a research guide revealing the major suppliers across the sports betting and iGaming industry.

Spotlight Sports Group (SSG), a global technology, content, and media company specializing in sports betting and fantasy sports, has today released its third edition of the sports betting industry ‘BetTech Ecosystem 2023’, a comprehensive report that provides the sports betting and iGaming industries with a deeper understanding of regulated betting markets globally.

The 2023 report takes a deep dive into current trends worldwide. The accompanying visual is broken down into six sections that comprise the key supplier areas of the sports betting and iGaming industries: Content, Platform Providers, Trading, E-Commerce, iGaming, and Data. The accompanying visual offers an overarching view of the key suppliers across the 42 subsections that make up the BetTech Ecosystem.

This comprehensive study was conducted internally by a team of Spotlight Sports Group researchers with the support of independent industry experts. The research focuses on the regulated European and North American markets.

The 2023 edition has expanded to include 375 companies, with 80 new entrants and a total growth of 17% YoY. The number of service providers in each segment is as follows:

Content: 149 (New providers added to the 2023 BetTech Ecosystem +9% YOY)
iGaming: 104 (+28% YOY)
Platform Provider: 64 (+36% YOY)
E-commerce: 64 (+31% YOY)
Trading: 43 (+34% YOY)
Data: 77 (+15% YOY)

New this year is an accompanying webinar hosted by SBC entitled BetTech Ecosystem: the State of Play in Sports Betting and iGaming Globally, to be presented on May 2nd. The panel will feature Spotlight Sports Group’s US Managing Director, Harry von Behr, Eric Frank, CEO of Odds On Compliance, Robin Chhabra, CEO Tekkorp Capital and Wayne Kimmel, Managing Partner, SeventySix Capital. Red Knot Communications’ co-founder Camilla Wright will moderate. The webinar can be accessed here.

Discussing the third edition of the BetTech Ecosystem Report, Spotlight Sports Group US Managing Director Harry von Behr said: “The BetTech Ecosystem Report has become an essential project not only for us at SSG but the industry as a whole. It is the only report of its kind that takes a deep look at the whole industry while also acknowledging the companies that help make the industry what it is. We’re proud of the praise the first two editions of the report received, and we look forward to sharing this year’s expanded version.”

At the tender age of 47, Ronnie O’Sullivan is no doubt reaching the latter stages of his incredible professional snooker career. However, O’Sullivan will be determined to win an eighth world crown before finally packing away his cue.

O’Sullivan Misses Out in 2023

O’Sullivan was expected to go far at the 2023 World Snooker Championship. Before the competition in Sheffield kicked off, the Rocket was available as the favourite, but his elimination in the quarter-finals means that Mark Selby is now the favourite in the odds on the Snooker World Championship winner at 2.10.

O’Sullivan won his seventh title in 2022 but failed to successfully defend his crown. Nevertheless, the desire was still there, as before his quarter-final loss, he was looking like a potential world champion once again.

It’s all fun and games 😉👍🏼 pic.twitter.com/qqBzT1PSEc

— Ronnie O’Sullivan (@ronnieo147) April 22, 2023

Looking Back on the Rocket’s Stunning Career

O’Sullivan is right up there with the best professional athletes of all time. His name should rightly be mentioned alongside the likes of Tiger Woods, Roger Federer, and Muhammad Ali when talking about the very best in sport.

Snooker may not be the most prestigious sport on the planet, but O’Sullivan has had a remarkable career matched by no other. After winning the 2022 World Snooker Championship, O’Sullivan went level with Stephen Hendry as the record world champion of the modern era. Both greats are on seven wins each, but O’Sullivan will be determined to break the record before calling it a day.

At the end of the 2023 season, O’Sullivan had 39 ranking wins to his name. The very first came 30 years ago at the 1993 UK Championship and the 39th was the Hong Kong Masters in 2022. After turning professional in 1992, he has gone on to dominate the sport for the next three decades, and he headed into the 2023 World Snooker Championship ranked No. 1 in the world at 47 years old.

Has O’Sullivan Got Another World Title in His Locker?

O’Sullivan went into the 2023 tournament full of confidence. In typical O’Sullivan style, the English ace played down his chances of winning the competition, but the bookmakers had him down as favourite.

O’Sullivan passed a tricky test in Round 1 before coming up against rival Hossein Vafaei, who has made several negative comments about O’Sullivan in recent years. The Rocket made light work of the Iranian, thumping the 28-year-old 13-2.

Although Luca Brecel is a top player, O’Sullivan would have been expecting to see off the Belgian to book his place in yet another World Championship semi-final. Brecel had other ideas, though, and came back to beat the Rocket 13-10.

Winning the pinnacle prize in snooker is no mean feat, but O’Sullivan has lifted the trophy seven times. Many expected him to make it eight in 2023, but it was not to be for the winner of 21 Triple Crown titles. He had to settle for just two wins in the 2022-23 season, as the Rocket won the Hong Kong Masters and the Champion of Champions tournaments.

Time may be against him, but there is life in the old dog yet. The experienced O’Sullivan will dust himself down and no doubt come back even stronger next year.