Finnplay to use Trustly Group’s payment solutions for its online money transactions

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Finnplay, one of the biggest Finland-based open gaming platform providers, has agreed to use the online payment solutions from Europe’s FinTech firm Trustly Group which is believed to be the breakthrough step being taken by the industry giant. Actually, Finnplay carries the biggest share of online and offline bets inside Finland, and in recent time, number of cases of payment failure and other technical glitches have increased hence it was expected from the gambling giant to look for a better payment solution to capitalize on. This is a fact that online gamblers, having been engaged with their games, want almost immediate completion of their money transactions whenever they want to deposit or withdraw money from their accounts. Especially, when a new gambler joins a side, he expects complete hassle free payment gateway without any hiccup. If new solution could help reduce number of help desk queries, operator can use surplus manpower on other important background jobs.

Revealing about their new solution partner and what they expect from the upcoming payment gateway, Finnplay chief executive Martin Prantner said, “Our customers expect to offer players a frictionless user experience when it comes to deposits and withdrawals from the player wallet. Given that ease of use is high in the consideration cycle of a player when looking to register or play with an online gaming brand, it is imperative that payment solutions both cross-border and localised become part of the marketing toolkit to acquire and retain players.

“We look forward to our partnership with Trustly in ensuring Finnplay has one of the best rosters of payment solutions available on our platform.”

On the other side, if we look at Trustly Group and its record in payment solution industry, they have been one of the biggest name with least number of glitches during money transactions, hence Johan Nord, chief commercial officer at Trustly Group, confidently, talks about their solutions and how they can help Finnplay multiplies their online money transactions, he said, “Today’s online customer expects payments to be instant and without any hassle; Trustly’s solution improves the customer experience and, in the end, customer satisfaction. With many years of experience in serving the gaming industry, we have developed a unique payment solution that meets the high demands of both end users and merchants.”

BetConstruct to offer football jackpot pools this summer through its partners

One of the leading UK sports betting giant Colossus Bets have revealed their summer plans for soccer sports betting; they said to have launched a new football jackpot pool during next European soccer events which would first be available with BetConstruct and its associate partner VBet.com. This is the first time Colossus Bets have announced their new venture in soccer jackpot as earlier they were only leading the market for strategic bets and now after announcing new jackpot to its loyal customers, they are supposed to grow their market share across Europe considerably. Reportedly, over €70 million would be available to win in the initial jackpot pool which can be claimed by any customer associated either with VBet or its allies including Evolution’s studios in Latvia, Malta and Belgium. Moreover, it is being taken as the innovative step from the sporting giant, since jackpot is always supposed to be the gambling prerogative and after its availability during soccer games, UK’s leading gambling services providers are expected to take the prime spot in market.

The founder and chief executive of Colossus Bets, Bernard Marantelli, revealed about their initiative and said, “The initial roll-out of Colossus pools will focus on a small number of BetConstruct’s operator partners, but with over 200 partners on their platform, being live with BetConstruct represents a big opportunity for Colossus. BetConstruct joins 10 companies, including some of the biggest names in betting across four continents, already live with our lotto-sized sports jackpots.”

Likewise, BetConstruct chief executive Vahe Baloulian also added, “Colossus offers the world’s largest football jackpots with cash-out throughout, a formula we believe our partners and their players will love.”

If we look at industry feedback over this jackpot, most of the experts have a strong feeling that it is going to be a successful bet from sporting giant since it carries a great potential to lure every gambler since soccer has been the most popular outdoor sport among every European gambler. Recently, BetConstruct stretched its partnership with Evolution that extended their arms across Latvia, Malta and Belgium hence upcoming soccer jackpot pool would have a large market to entice sports gamblers. This is what BetConstruct chief executive Vahe Baloulian had said signing the deal with Evolution, “Now our operating partners will be able to offer their players Evolution’s truly localised, rich and diverse portfolio of games on the widest selection of tables across desktop and mobile devices. By adding 10 native speaking language tables we give the end-users an opportunity to have an even closer connection with the dealers and fellow players.

“This will help to build loyalty and forge stronger relationships between our operators’ brands and their players, which is a key focus of this new, extended localised offering.”

CVC acquires stake in German sports betting group Tipico

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The investment in a big sports betting brand has been in trend off late with top most corporates shelling out big amount to buy major stakes in betting operators and Private equity group CVC Capital is one such venture fund who announced to have bought a considerable stake in German sports betting operator Tipico. Tipico has been passing through a potential cash crunch and to surge their cash balance they hired JP Morgan and Rothschild to look out for potential investors willing to partner with them. It took a good six months to find an interesting capital fund in CVC who also has similar stakes in other betting brands like UK sports betting company Sky Betting & Gaming. Although, actual details about the percent of stake and its value is not made public, but according to financial experts, Tipico valued itself to the tune of S$1.12 billion to $1.68 billion recently, hence it is assumed, amount for the deal should be enough to give them key stake in the German betting giant.

If we look at the financial background of Tipico it is one of the biggest sports betting brand in Germany founded in 2004 and has the sponsorship right of national football champions Bayern Munich. Moreover, they offer their services in both online as well in-store modes along with several online casinos with expected revenue to the tune of €500 million net. They earn major share of revenue through processed bets that made them one of the most strategically run betting house in the region and looking at this deal, industry experts are taking it a good bet for Luxembourg based private equity firm who is slowly but steadily spreading its arms across Europe.

Moreover, if we consider at its technical aspects, it would not be an easy going task for new owners since German “fuzzy” gambling laws are going to be a big problem for them and Government attitude is also not supportive for new gambling entrants. Anyways, if we look at CVC think tanks it is their first big move towards sports betting after they hired Goldman Sachs Group Inc.’s ex-Germany chief Alexander Dibelius last year who believes to be having vast experience in this sector. CVC issued a statement revealing the deal that says, “Tipico will be able to benefit from CVC’s extensive industry expertise, most notably from their experience as the majority owner of Sky Bet, a leading operator in the UK’s betting market. CVC has also previously had investments in the sports betting provider William Hill and the IG Group, a digital trading and betting platform.”

What Ghana can learn from South Africa after rising cases of Sports Betting frauds

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Gambling of any form including Sports betting has ever been a luring concept for everyone willing to make some fast cash and this is also a fact that there are more unauthorized gambling places everywhere than the legitimated ones and for this reason, most of the immature gamblers often found themselves stuck in a trap. Although, rising cases of fraud in gambling are more prominent in third world States where government does not have any clear cut policy over gambling along with unavailability of authenticated gambling zones. If we look at recent happening in the gambling world, Ghana seems to be on boiling point after increased number of frauds happening in the State. Last Friday was one such day when, reportedly, a taxi driver protested against the fraud happened to him. He said to have been cheated by the sports betting company and his bet on a premier league game was not properly paid.

This is not one of its kind cases in Ghana, actually, there are plenty of complaints about such frauds which has reached to an alarming bell level now. If we look at a broad aspect of sports betting in this African region, there are only limited companies who are licensed to accept bets of various sports while there are hundreds of unauthorized gambling places carrying most of the betting revenue hence most of the complaints belong to them.

Moreover, betting industry in this region is not professional so as the gamblers are hence peoples get easily lured by the attractive advertisements promising tons of money at penny of investment that lures every youngster willing to make some fast cash which is the main reason betters are being cheated every other day. The taxi driver protest was another incident when Gaming Commission had to relook at the whole scenario and if they can correct this is a short span of time. However, if we look at what betting experts have to say about the problem being faced by gamblers in Ghana, they advised government body, who is authorized to regulate the activities of sports betting companies, should learn something from South Africa’ who was also facing similar problem some time ago.

While, there are many who still have a point that small betting zones charge lesser money and easily reachable to local aspiring gamblers hence they get stuck with them quite easily while big industry giants has lots of requirements that keep small or part time betters out of their reach which is something that needs to eradicated by the Gaming Commission

American Gaming Association along with industry giants back legalized Sports Betting across America

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Although Sports betting has ever been a popular recreational activity in America but there are still many States where it is still not regularized and New Jersey is one of them. There has been a demand across the board to regular this money wager practice to enhance legalized betting in the State. Until recently, State gambling patrons were the only ones to force Government to have a look at the prevailing situation where millions of dollars bets are being placed everyday using illegal zones and how it could benefit State if all the bets are routed through proper channel carrying State’s share as taxes. Now, The American Gaming Association has shown its thorough support to legalize Sports Betting across the county – not only in NJ. This move is powered by industry heavyweights like Caesars Entertainment, Borgata owners Boyd Gaming, and MGM Resorts International and they all cite their endeavor with illegal gambling zones available throughout the country without having any safety or decency to the gamblers. According to a recent survey, there are hundreds of complaints pending in district level about frauds being done by these unofficial betting zones and if all of them are put under a legal gambit, it could relieve the gamblers with some kind of State backing.

President and chief executive of the Washington-based trade group Geoff Freeman said while pushing forward their support “Is there a better approach? The law has failed. It’s time to take a fresh look. You will see us out there week in and week out. If heads are in the sand, the AGA is going to do its best to pull them out.” Looking at the vibes inside AGA where they have spent more than three hundred thousand dollars to convince all the concerns about the need of change in prevailing law and how they back New Jersey’s appeal which is pending at Third Circuit U.S. Court of Appeals.

Even though, there is a positive vibe in the air across country, but it is also true that any attempt to legalize sports betting inside NJ needs to be stronger than earlier attempt where it failed in the court of law against Major League Baseball, the National Football League, National Basketball Association, National Hockey League, and the NCAA since they cited any such enactment would violate 1992 federal ban.