Betstars extends lead in registration rankings

first_img Betstars has again topped form analytics platform Formisimo’s rankings of the registration processes of leading sportsbooks Tags: Online Gambling Topics: Sports betting Tech & innovation Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 14th May 2018 | By Stephen Cartercenter_img Betstars extends lead in registration rankings Sports betting Betstars has again topped form analytics platform Formisimo’s rankings of the registration processes of leading sportsbooks.The PokerStars-owned book extended their score to 70 from 59 out of a possible 84 since the Manchester-based company ran its last analysis of desktop and mobile registration processes last September.Formisimo highlighted the contribution of their short registration form which backloads the KYC step until after completion.The analysis of 43 sites carried out in April 2018 looked at 52 metrics to gauge and compare performance. Formisimo’s analysis also established that the “market is shifting away” from some major operators as they lose ground to those that have invested in improving their registration process.Betfair emerged as the biggest loser since last September, down 23 places, with Coral, Sky Bet, LeoVegas and Genting Bet also losing ground.Big improvers included Vernon Sports , which jumped 22 places in the league table, to second place, followed by DraftKings, up four positions, and Mr Green, up six.Formisimo highlighted that less than half (46.5%) of sites use inline validation to show when users make a mistake or enter information correctly and that 37% have no automatic address lookup, despite both being relatively easy solutions to deploy which have a strong impact on conversion rates.A more detailed dataset can be found here. Email Addresslast_img read more

BetBright brings Netflix tech to betting slips

first_img Subscribe to the iGaming newsletter Email Address Topics: Sports betting Tech & innovation 27th July 2018 | By contenteditor BetBright brings Netflix tech to betting slips AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter BetBright is aiming to bring the customisation and community functionality of Netflix to sports wagering after launching its new BetFeed service.The Dublin-based operator, which earlier this year said a focus on in-house development was at the heart of its growth strategy, said the platform will offer customers a more interactive digital experience, citing the focus on multi-user influenced discovery and curation developed by tech giants such as the TV on-demand streaming service. offers a “unique insight” into which events or bets are popular with other people.  Customers will be able to see in real-time the exact number of people who are betting on a selection, enhancing their experience and encouraging social interaction. The page also allows customers to browse a scrollable feed of up to 100 bets and copy them into their bet slip with a single click.“Whether it’s Facebook, Netflix or Spotify, the modern digital consumer is used to being able to like and follow trending social feeds and content, from their friends’ photos to their movie and music choices,” said Sarne Lightman, managing director of BetBright.“Until now, traditional sportsbooks have lacked even the most basic social functionality leaving customers betting in a vacuum with nothing but the odds as evidence to what other users might be doing around them.”Users will be given greater control to sort and filter their feed with things they are interested in and can sort their feed by the most popular or latest bets. BetFeed can also be refreshed every 30 seconds for real-time offers.Lightman added: “Like the disrupters in other digital industries, BetBright understands how important the social experience is to the savvy digital customer and BetFeed is the next step on our journey to modernise and disrupt the digital sport betting industry.”BetBright has introduced the feature as it looks to build on an impressive period of growth. It trebled turnover in 2017, and in February said it hopes to double this total again in the current year. It said it expects profit for 2018 to total £25m (€28.4m/$35m).In announcing plans for the year it said “our plan is to use our technology ownership technology ownership and the in-house development of this, as an enabler of innovation and differentiation – which will enable us to shake-up what is an already crowded market and stand apart from competitors, which include some very successful and well-known brands.” Sports betting Operator adds ‘social experience’ to betting with its BetFeed platformlast_img read more

Latin America currency woes continue to hurt Codere in Q3

first_img Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Tags: Online Gambling Latin America currency woes continue to hurt Codere in Q3 Revenue decline partially offset by growth in Spain during Q3 Finance Regions: Europe LATAM Southern Europe Italy Spain Argentina Brazil Mexico Panamacenter_img 13th November 2018 | By contenteditor The results will make for more grim reading for Codere, which in September saw a boardroom revolt when three of its directors refused to sign off on its H1 results. Martínez Sampedro, his brother Luis Javier and Pío Cabanillas would not put their names to the company accounts. The Martínez Sampedros founded Codere and had been controlling shareholders until financial restructuring in 2014. They retained their positions until January this year, when the main shareholder funds appointed Vicente di Loreto as the new CEO and Raúl Sorensen as non-executive chairman – replacing founder José Antonio Martínez Sampedroas. Over the past 10 months, they have waged a battle to regain control of Codere, including an unsuccessful court challenge to their removal. With a keen eye on its growing Spanish business, Codere is also part of a group seeking to put a stop to government plans to change national laws on advertising.Last month, the government set out plans to introduce restrictions “similar to that of tobacco products”. In 2005, Spain introduced regulations that prohibit the sponsorship of tobacco products, as well as all kinds of advertising and promotion in the media, with a handful of exceptions.Image: Luis García (Zaqarbal) Codere has announced a net loss of €21m (£18.3m/$23.6m) in the third quarter, with the sharp devaluation of Latin American currencies again proving costly during the period. Operating revenue in the three months to the end of September amounted to €356.3m, down 11% from the corresponding period last year as a result of significant currency devaluations in one of its biggest markets, Argentina. On a constant currency basis, revenue would have come in at €434.4m – up 8% year-on-year.Argentina remains Codere’s biggest market, despite revenue slipping 35% to €92.2m in the quarter (up around 16% at constant currency). This was blamed in part on the Euro appreciating 64% against the Peso during the quarter. Revenue was also down 3.3% in Mexico – its second highest source of income – to €83.8m, while Codere saw revenue slip in Panama and Brazil. Only Colombia and Uruguay were able to achieve single-digit growth in Q3. Total Latin American revenue fell 19.5% to €220.9m.  However, Codere said its Latin American woes were partially offset by its performance in Spain, where revenue was up 19% year-on-year to €47m. Whiole Italian revenue declined marginally to €79.4m, total revenue from Europe was up 6.9% year-on-year at €135.4m. The company also saw costs fall over the reporting period, down from €332.6m in Q3 2017 to €285.5m. Adjusted EBITDA for Q3 was up up 3.4% to €70.8m, but would have been up by 32% to €90.2m at constant currency.Codere was also negatively impacted by currency exchange costs of €10.4m, as well as a €7.2m adjustement for inflation made to the tax it paid for the period. This ultimately saw the company post a €21m loss. Operating revenue for the first nine months of the year decreased by 8% to €1.12bn, however in constant currency terms group revenues for the period would have grown by just over 10%. Vicente Di Loreto, Codere’s CEO, said: “Despite the macroeconomic situation in Argentina that has continued to mark our results, our position is solid to cope and maintain the strategic guidelines of our business plan. In this period, we have achieved an increased adjusted EBITDA and margin expansion will allow us to further strengthen our competitive position in each market and our ability to generate positive results.” Topics: Finance Subscribe to the iGaming newsletterlast_img read more

NHL exec tips betting revenue to stall ticket hikes

first_img Topics: Finance Sports betting Regions: US LA Kings president Luc Robitaille also expects player salaries to rise Subscribe to the iGaming newsletter Luc Robitaille, president of NHL ice hockey franchise the Los Angeles Kings, has said revenue from legal sports betting could help keep tickets prices down in the league and also boost players’ salaries. The NHL was previously against plans to expand legalised sports betting in the US, but since the repeal of PASPA earlier this year, the league and some of its teams have entered into gambling partnerships to take advantage of the ruling. Last month, the NHL signed up MGM Resorts and its first official sports betting partner. Elsewhere, NHL outfit the New Jersey Devils recently signed a deal with Caesars Entertainment, while the Vegas Golden Knights has linked up with William Hill. In addition, the American Gaming Association (AGA) has suggested that if the league is to fully embrace legal sports betting, it could benefit by over $200m (£153.5m/€176.2m) in additional revenue each year. Speaking on ESPN’s On Ice podcast, Robitaille said he expects this money to trickle down to all NHL teams, offering another source of income and allowing them to lower the price of items such as tickets. “I’m not going to guarantee it’s going to bring down ticket prices, but it might hold the raise a little bit,” Robitaille said. “If a team plans on raising ticket prices by 8%, they might only raise them by 4% or 5%. If there’s a lot more money at the table, it makes everybody’s life easier. “You would think [new sources of revenue through legal sports betting] would help with always putting the pressure on fans to keep paying … hockey is still a ticket business, primarily. “Hopefully that helps offset some of the ticket pricing. I’m not sure about it, but it could if the money is significant enough. There’s a lot that could go around it.” Robitaille also said that the additional revenue will mean teams can spend more on their squads and the amount they pay their players. He said: “If teams profit, then everybody will profit. If you go by the numbers on the illegal part, it’s pretty significant. If that part ends up on the team side, I think it’s going to help everyone.“First of all, the [salary] cap will go up. Fans will be happy. Teams will spend more money on players. Players’ salaries will go up.”Image: US Air Force 9th November 2018 | By contenteditorcenter_img NHL exec tips betting revenue to stall ticket hikes AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Finance Email Addresslast_img read more

New slots on the block: Part 2

first_img New slots on the block: Part 2 Topics: Casino & games Strategy Slots Casino & games In the second part of iGaming Business’ roundtable of the challenges facing new slot studios as they attempt to gain traction in a competitive market, we discuss content aggregation platforms, innovation and M&A. Read part one here.How important are content aggregation platforms to smaller games developers – have these helped you gain access to larger operators? Or do they simply increase costs for you, considering how many games you are still competing against? Andy Harris, Design Works Gaming (AH): With a lot of operators, it is either the aggregation route or no route at all, so many studios depend on them to get their content out because a direct integration isn’t an option. There are some objectives you have to consider before choosing what aggregator platforms to go for though. For example, the integration road map, you want your content out sooner rather than later. Also, what are the preferred aggregators for your customers? Aggregators are important but they do increase cost. There are also so many suppliers with so much content on these platforms that it can be difficult to get your voice heard. We will most likely combine aggregator platforms with direct integrations with operators. Stuart McCarthy, Yggdrasil (SM) : If you are a brand-new studio, having to build a new RGI and develop your own tools, as well as deal with a minefield of regulatory issues, that’s an extremely difficult position to be in. I’d go so far as to say it’s a near impossible task to breakthrough without at least starting with an aggregation platform.If you look at the heavy lifting that must be done now to get into European regulated markets, it requires a huge amount of compliance and systems work as well as significant overheads and investment.Ollie Castleman, OneTouch (OC): Aggregators are sometimes the only pathway into some serious brands as they don’t often accept direct integrations. Having a good relationship with certain staff at aggregators certainly leads to a successful and mutually beneficial partnership.Would you say you’re limited in how you can innovate with your products? Ie, can you take risks such as developing titles that do away with the standard reel format, or does that potentially risk putting time and money into something that will fall flat? SM: If you‘re a small studio it’s a high-risk approach to break out in a radical way from the traditional slots model. If you have strong innovative idea, then you absolutely should invest in it but my advice would be to spread your risk. Iterate out from a proven model and learn from your successes and failures then once you hit on something special go for it for all your worth. And above all pick the right partner to get your games to market with a bang.Simon Hammon, Relax Gaming (SH): Risk is inherent in any move to innovate on market trends, but it is integral for providers looking to set themselves apart and capture player imagination.With such a competitive landscape it is essential to constantly innovate while not alienating players with a totally bizarre concept. To be successful, players need to be able to grasp new mechanics quickly and easily, while understanding the added entertainment they bring. OC: You must carefully control innovation. Many successful innovators have either brought together several technologies simply and effectively, or they have accurately identified where they need to be innovative and where they need to follow industry standards and norms.When it comes to slots, innovation with reel format and game features can often be dictated by the target market for the game. Investment in highly innovative games is risky because a good deal of slots that every company produces will fail to perform, therefore it’s arguably more important to find a balance between volume of game releases and experimentation.Do you feel there is still scope for suppliers to be acquired by larger peers, or would you say the larger studios and service providers are less keen on consolidation today? AH: I don’t think we will see many more suppliers acquired by larger peers in the near future – we have seen this happen on a number of occasions in previous years and I’m not sure how beneficial those have been to the acquiring parties.Moving forward, I believe we will see casualties in the supplier market. It is tough to imagine that the plethora of content providers we currently see will last in the long run. The commercial opportunity has changed hugely in recent years. This has been as a result of a number of factors, not least an increasingly competitive market place, which in turn has been one of the factors driving decreasing revenue share rates, which will ultimately impact quality and lead to less innovation and less choice in the market. A disparate and increasingly onerous regulatory environment hasn’t helped either.SM: This is still happening today but in a different, and arguably more strategic and subtle way. The days of large suppliers acquiring multiple large studios are fading fast. Instead, we’re seeing large providers take a different approach by investing substantial equity stakes in smaller, more innovative, independent studios. They then remain ‘independent’ but as part of a larger portfolio and under a large supplier’s control. I predict we’ll see this happen more often.SH: There is always consistent scope for this. In an increasingly saturated marketplace I would envisage the continuation of supplier M&A activity. In a game of tightening margins, M&A driven scale is an answer studios will continue to turn to, for a variety of reasons. These range from acquiring the minds of a few key people, enhancing studio capacity for development, cost-sharing core functions such as compliance, taking on regional or market-specific portfolios and even distribution networks in some cases. In the second part of iGaming Business’ roundtable of the challenges facing new slot studios as they attempt to gain traction in a competitive market, we discuss content aggregation platforms, innovation and M&A. Tags: Mobile Online Gambling Skill Games Slot Machines Subscribe to the iGaming newslettercenter_img 2nd May 2019 | By contenteditor Companies: Yggdrasil Regions: Asia Europe US Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitterlast_img read more

Evolution Gaming reports 45% Q2 revenue growth

first_img Live dealer software supplier Evolution Gaming reported a 45% growth in revenue for Q2 of 2019 and 49% for the first half of the year. Profit for the quarter totalled €34.5 million, while for the first half of the year profit reached €63.1m. Both figures were a 72% increase on the previous year. Email Address 19th July 2019 | By Daniel O’Boyle Live dealer software supplier Evolution Gaming reported quarter 2 revenues of €85.7m for Q2 of 2019, a 45% increase upon the previous year.The company said that an expansion of their Live vertical beyond tabletop games helped drive the growth.According to the company, the increase in revenue “mainly derives from increased commission income from both new and existing customers.”Chief Executive Martin Carlesund said the successful quarter was due mostly to the launch of new games, including game show titles such as “Deal or No Deal Live.”“2019 is a year of product and innovation and during the period we have launched all this year’s new games,” Carlesund said. “The response has been instant, and we are overwhelmed by the positive reception among both players and operators.“Our aim in the development has been to create games that attract new player types and to expand the Live vertical into new segments, and so far, we are very happy with the outcome.”The company also said that the continued growth of the Live Casino sector and increasing focus from operators contributed to the revenue growth.“To a large extent, growth is also driven by Live Casino having grown in importance for most gaming operators, who consequently elect to expose and market their Live offerings to customers more extensively than before,” the company said.Carlesund said the growth came across a variety of markets, including outside of Europe. 30% of Evolution’s revenue in Q2 came from outside of Europe, up from 25% in the previous year. The percentage of revenues from the United Kingdom and the Nordics declined from 16% and 9% respectively in Q2 of 2018 to 13% and 9% in 2019, while the rest of Europe remains the most significant region for Evolution, contributing 49% of revenue.“The positive market development continues,” Carlesund said. “The Nordics are growing, however at a somewhat slower pace as the Swedish market now is normalising following the intense start to the year as a result of the new gaming legislation. The UK continues to stabilise and is growing compared to the corresponding quarter last year. Both Rest of Europe and Rest of World also exhibit favourable growth.”Regulated markets made up 35% of Evolution’s revenue. Mobile is by far the supplier’s largest channel, accounting for 70% of total revenue.The largest expense for Evolution was personnel, at €30.5m of the company’s €49.1m total operating expenses. However, while personnel costs increased from last year’s €24.2m, Carlesund said the staff expenditure in the period was very efficient as Evolution’s new titles did not require significant growth in personnel, such as additional dealers.“The new games are not as staff intensive as the traditional table games, which in combination with a generally high efficiency in all studios contribute to the margin development,” Carlesund said.A further €6.1m of expenses went to depreciation, amortisation and impairments, an increase of 36.5% from €4.5m last year, while other expenses totalled €12.5m, a 41.9% increase from last year.Profit for the quarter totalled €34.5 million, a 72% increase upon the previous year.The company also posted a record-high year-on-year increase in earnings before interest, taxes, depreciation, and amortization, of 49.8 percent.For the first half of 2019, Evolution’s revenue grew by 49%. Expenses for the first half of 2019 increased by 37.7% to €98.2m. €59.5m of those expenses went to personnel costs, a 31.9% increase from the prior year. Depreciation costs rose by 37.8% while other expenses rose by 52.5%.Profit for the first half of 2019 increased by 72% to €66.7m.Carlesund said that in the future, the company looked to invest in more markets including further investment in the US.“Going forward, we will continue to invest in the development of both additional game shows and other innovative product types, as well as table games to meet the overall demand for Live,” Carlesund said. “We also continue to invest in our studios. During the quarter, we have transferred the first tables to the new Malta studio, while also expanding the studio in Georgia.“In addition, we have initiated a doubling of the capacity in New Jersey. We will also strengthen our presence in the US further and have started the planning for the construction of a studio in Pennsylvania. All in all, investments for the 2019 full year in absolute numbers will be somewhat higher than in 2018. It is imperative for us to meet the demand for Live, to continue to enable innovation within the company and to constantly increase the gap to competition. Connected to this, it is important to remember that in a case where we must prioritise, we will always put growth before margins.”Earnings per share in the quarter to amounted to €0.19 for the publicly-traded company and the release of the quarter 2 figures has sparked a major increase in the company’s share price, which closed on Thursday at 196.00 SEK and opened on Friday at 216.00 SEK.“Since Evolution’s inception, we have had a paranoid approach to our development, and given all achievements so far in 2019 I would like to conclude these comments by pointing out that we are never fully satisfied, we never sit back and each day, we fight to become a little bit better,” Carlesund said. Casino & games Evolution Gaming reports 45% Q2 revenue growthcenter_img Topics: Casino & games Tags: Online Gambling AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletterlast_img read more

German gaming machine bodies demand online casino regulation

first_img Tags: Slot Machines Topics: Casino & games Legal & compliance Slots Email Address Germany’s leading gaming machine manufacturer and operator associations have expressed support for the third amended State Treaty on Gambling, but called for future regulations to go further by legalising online slots.  Subscribe to the iGaming newsletter Regions: Europe Central and Eastern Europe Germany Casino & games AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter German gaming machine bodies demand online casino regulation 16th September 2019 | By Daniel O’Boyle Germany’s leading gaming machine manufacturer and operator associations have expressed support for the third amended State Treaty on Gambling, but called for future regulations to go further by legalising online slots.The Automatenverband Niedersachen eV (AVN), Verband der Automatenkaufleute Berlin und Ostdeutschland (AV), Fachverband Spielhallen (FSH) and Bundesverband Automatenunternehmer (BA) stated that they welcomed the State Treaty, as it would “break the deadlock” and see online sports betting licences finally awarded.However, the quartet added, this was “only the first step towards re-regulating the market”. State Minister-Presidents have agreed to implement the Treaty for a short time, to 30 June 2021, to finally award sports betting licences. Efforts to limit the market to 20 licensees were derailed by legal challenges, until the regulations were amended to remove the licence cap in March this year. The new regulatory framework must ensure that players were channelled away from illegal offerings, to avoid jobs and tax revenue being lost to offshore providers, and to ensure a high level of youth and player protection, the associations said.“Therefore, the associations are in favour of applying the regulatory approach adopted for sports betting to commercial slots,” the associations said. They argued that by applying a qualitative approach to online casino licences, lawmakers could ensure that players were attracted to legal offerings, and away from unlicensed sites.“The State Treaty on Gaming points in the right direction,” Heinz Basse, chairman of the AVN, said. “But lawmakers must be careful not to repeat old mistakes. Effective regulation must be based on the quality of the companies [in the market], as high quality companies ensure effective player and youth protection.”BA president, and AV chair, Thomas Breitkopft added that qualitative, rather than quantative, regulations were the future.“Only a reasonable legal framework can ensure efficiency and consumer protection,” he said.In August, the European Commission criticised the treaty, warning that it offered little incentive for operators to secure licences, though lawmakers have claimed this will not prompt any changes to the legislation.Analysts have suggested that the restrictive framework, in which sports betting is the only product permitted, but with no in-play wagering allowed, and a €1,000 monthly spending limit imposed on players, could see licensees’ German revenue slashed.last_img read more

Webinar: The state of sector pay in 2019

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter How your pay stacks up to everyone else working in the sector Year-on-year changes in salaries in locations/geographies such as the UK, Malta, Gibraltar, North America, Asia Pacific, South America and Africa Changes in pay across core specialisms such as analytics & data, compliance, customer services, design & tech, finance, marketing, sales and product & project Insight into the underlying factors and trends driving these changes How clients and candidates can use the data and findings to their advantage Recruitment outlook and challenges for the sector Uncategorized This webinar, in partnership with Pentasia, looks at the recently released iGB annual salary survey. The webinar took place at 15:00 GMT on Monday 16th December 2019. 6th December 2019 | By Subscribe to the iGaming newslettercenter_img Produced in partnership with the sector’s largest recruiter and now in its second year with three years of available data, iGB’s annual salary survey is now the definitive annual benchmarking of sector pay. In this webinar we discuss the detail behind the headline 8.5% average pay rise with Pentasia MD Alastair Cleland and creative marketing manager Will Sawney. Tune in to learn more about: Email Address Topics: Uncategorized Webinar: The state of sector pay in 2019last_img read more

Ukrainian lawmakers introduce bills to set gambling taxes

first_img29th January 2020 | By Daniel O’Boyle Email Address Tags: Online Gambling Legal & compliance Ukrainian lawmakers introduce bills to set gambling taxes AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Ukrainian legislators have submitted three bills to establish tax rates for gambling in the country if it becomes legal. Regions: Europe Central and Eastern Europe Ukraine Topics: Legal & compliance Lottery Sports betting Subscribe to the iGaming newsletter Ukrainian legislators have submitted three bills to establish tax rates for gambling in the country if it becomes legal.If any of the three bills are passed, it would come into effect alongside Oleg Marusyak’s bill to allow gambling, which passed its first reading in the Rada with 260 out of a possible 450 votes.A bill jointly submitted by Marusyak and Marian Zablotskyi, Bill 2713, sets the tax rate for all gambling and lotteries at 25%.An alternative – 2713-1, submitted by Dmytro Natalukha – proposes a 7.5% GGR tax rate from bookmaking, 12.5% from online gambling and 22% from lotteries.The bill 2713-2, put forward by Oleksandr Dubinsky, would establish a 25% GGR tax rate for all forms of gambling: online, land-based and lotteries.Currently, all three bills are being considered by the Committee on Finance, Tax and Customs Policy.Marusyak’s bill to legalise gambling includes a UAH6.7m (£212,800/€249,500/$277,300) licence fee as well as a fee of UAH41.7m for casinos in hotels with 200-250 rooms and a fee of UAH62.6m for casinos in hotels with 250 or more rooms. These licence fees will track the country’s minimum wage to adjust for inflation.The bill would determine bookmaking licences through a system where each licensee would have the rights to open 5 bookmaking shops. 32 bookmaking licences would be available in Kyiv, 16 between Ukraine’s other large cities of Odes and Kharkov and a further 32 in the rest of the country.The number of gambling machines is limited to 40,000 and players must be 21 to gamble, an increase from 18, which it had been in an earlier version of the bill which did not pass when read in December.last_img read more

Polish bookmakers call for temporary tax reduction

first_img Subscribe to the iGaming newsletter Topics: Finance Sports betting Strategy Poland’s Association of Employers and Employees of Bookmakers has called on the country’s government to step in and help the sector avoid significant job losses as a result of the novel coronavirus (Covid-19) pandemic.The industry association said it has seen the number of bets placed drop by around 60% due to the cancellation of sports across the globe. This decline is expected to worsen, it warned, particularly after all retail bookmakers in Poland closed from 14 March.As a result bookmakers have seen customer spending disappear, meaning they are losing money, with no way to mitigate the shut-down.This, the association said, would result in efforts to reduce fixed costs, icluding mass redundancies, with many operators now facing bankruptcy. The situation could result in most of the 5,000 staff employed in betting shops, not to mention head office staff, risk losing their jobs, it warned.The sector is already struggling with significant offshore competition, which a Supreme Audit Office (NIK) report published in September last year estimated to account for around 51% of total gambling spend each year.There could also be a knock-on effect on state coffers, the association added. The regulated Polish gambling industry has an annual turnover estimated at PLN7bn (£1.36bn/€1.53bn/$1.69bn), of which at least PLN820m goes to the state through gambling and lottery taxes.To avoid job losses and protect the state’s tax revenue, the association urged the Polish government to reducing gambling tax rates from 12% to 10% of turnover at least until August this year. In addition, the association asked the government to delay the deadline for paying these taxes to September. Under normal circumstances, the taxes are paid monthly.Earlier this month, the Polish Ministry of Finance claimed the market share for so-called ‘grey’ operators fell to 18.5% in 2019, below the average across the European Union (EU).In January, legal association Graj Legalnie reported that regulated bookmakers in Poland generated combined turnover of PLN6.7bn (£1.36bn/€1.58bn/$1.76bn) in 2019, a 28.8% year-on-year increase. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 30th March 2020 | By Daniel O’Boyle Regions: Europe Central and Eastern Europe Polandcenter_img Polish bookmakers call for temporary tax reduction Finance Poland’s Association of Employers and Employees of Bookmakers has called on the country’s government to step in and help the sector avoid significant job losses as a result of the novel coronavirus (Covid-19) pandemic. Email Addresslast_img read more