In the world of online sports betting, payment methods are more than just transactions, they’re integral to the player experience. Paysafe’s comprehensive research delves into the intricate nuances of bettors’ picks, shedding light on how these choices influence their engagement with sportsbooks.

Streamlined Payouts

According to Paysafe’s research that was conducted across six United States (Massachusetts Michigan, New Jersey, New York, Ohio, and Pennsylvania), the Canadian province of Ontario, the United Kingdom, France, Germany, and Italy in December of 2023, the rapid withdrawals are a top priority for bettors worldwide. Surpassing factors like brand confidence and probabilities, players prioritize sportsbooks that offer swift and hassle-free payouts. This focus on streamlined transactions highlights the importance of efficient payment processing in enhancing the overall betting journey.

In addition to speedy payouts, bettors seek platforms that support their preferred payment methods. Paysafe’s findings reveal that seamless deposits are a crucial consideration for players when selecting a sportsbook. The availability of various payment options, ranging from traditional methods like debit cards to emerging alternatives such as digital wallets and eCash, is instrumental in catering to the diverse needs of players.

Player Retention

Beyond attracting new customers, maintaining player loyalty is paramount for sportsbooks. Paysafe’s research indicates that a seamless payment experience significantly contributes to customer retention. With 78% of bettors valuing payment satisfaction in their decision to remain loyal to a brand, sportsbooks must prioritize the optimization of their payment processes to foster long-term relationships with players.

The emergence of digital wallets as a preferred payment method is a notable trend highlighted in Paysafe’s research. Digital wallets offer convenience and security, appealing to a growing segment of bettors, particularly in regions like Italy and Germany.

Despite regulatory constraints in certain markets, credit cards maintain their popularity among bettors, especially in regions like France. Additionally, the research underscores the significant interest in eCash, particularly in countries with a strong cash culture such as Germany and the United States.

Localized payment options, tailored to regional preferences, are favored by a substantial portion of players. These LPMs cater to the specific needs and preferences of players, contributing to a seamless betting experience.

Security and Future Trends

While players generally express confidence in transactional security, continuous efforts are required to address any concerns and maintain trust. Sportsbooks must prioritize robust security measures to safeguard player data and financial transactions.

Looking ahead, the adoption of alternative payment methods is expected to grow significantly. Digital wallets and eCash are poised for increased usage, offering players greater flexibility and convenience in their transactions.

Interest in Cryptocurrency

Despite market volatility, cryptocurrency paymentsgarner significant interest among players, particularly in regions like the United States. This highlights the potential for cryptocurrency to emerge as a viable payment option in the future, offering players additional choice and flexibility.

The Global Gaming President for Paysafe, Zak Cutler said: “Our latest research clearly indicates the value of payments to online sportsbook operators at all stages of the player experience. Operators that optimize their payment offering will gain a competitive advantage when starting their brand’s relationship with new bettors. Given the correlation between the payment experience and brand loyalty, operators can maximize player retention by getting payments right. This includes upgrading their cashiers to cover all possible payment choices to meet evolving transactional expectations.”

Source: ”Paysafe Research: Stronger Online Betting Experience Starts with Payments”. European Gaming. February 8, 2024.

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Capital Research and Management Company, a subsidiary of The Capital Group Companies, Inc., reduced its shares in Kindred Group. On Wednesday, Kindred confirmed that it received notification about the reduced number of shares and voting rights by Capital Research and Management Company.

Per the notification, as of January 22, 2024, Capital Research and Management Company now holds 8.63% of shares and voting rights in Kindred. This strategic move comes at a time when La Française des Jeux (FDJ) announced a $2.5 billion bid to acquire Kindred recently. With the proposed strategic bid, FDJ seeks to propel its global presence, after it already has established strong footprint across Europe.

Considering FDJ’s announcement, Kindred’s shares skyrocketed recently. As of January 22, 2024, the company’s shares were up 17% on the Stockholm Nasdaq.

Throughout the years, Capital Research and Management Company’s stake in Kindred varied. An all-time high share and voting rights in Kindred, some 15.33%, were held by the company back in October 2021. More recently, Capital Research and Management Company reduced its stake in July 2022 to 10.86%.

“Kindred Group plc hereby announces that it, on 23 January 2024, has received a notification of major holdings from The Capital Group Companies, Inc., a company with its registered office in Los Angeles, USA. The notification relates to a reduced number of shares and voting rights in Kindred by Capital Research and Management Company, a subsidiary within The Capital Group Companies, Inc. which holds the relevant position in Kindred Group,“

reads a statement released by Kindred Group

Preliminary Q4 Results Point To Growth in EBITDA and Revenue

Amid the announced takeover bid from FDJ, Kindred released its preliminary Q4 2024 results, pointing to an increase in revenue and uptick in EBITDA. In total, Kindred’s revenue for the fourth quarter hit £312.9 million ($398 million), a result that marked an increase of 2% year-over-year.

On the other hand, underlying EBITDA for the period grew as well, hitting £56.8 million ($72.2 million). In contrast, for the fourth quarter in 2022, underlying EBITDA halted at £39.1 million ($49.7 million).

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Spain’s national gambling regulator, The General Directorate of Gambling Regulation (DGOJ), announces a comprehensive governmental action aimed at prevention and mitigation of problem gambling in the country. The regulator also announces that the government has allocated a total of EUR 1.3 million to fund 26 projects to research into gambling harm in Spain.

Research Into Gambling Harm

The announcement follows the initiative of the Ministry of Consumer Affairs that launched the nation-wide application process in April 2023. The call for applications for 37 gambling-related research projects was distributed to universities, R&D centers, health care institutions, and non-profit organizations.

EUR 1.3 Million Available for 26 Projects

The authorities reportedly requested that submission be focused on gambling harm, as well as other adverse conditions related to gambling activities. The government reportedly allocated a total of EUR 1.3 million for 37 research projects but the Evaluation Commission reduced the number to 26 following the evaluation report of State Research Agency.

Spanish gambling regulator has also confirmed that the implementation of the approved projects will be extended until 30 June 2024.

DGOJ reportedly said:“These grants are aimed at carrying out research studies on disorders derived from gambling activity, with the prevention of the effects derived from said disorders or the risks associated with gambling.”

55.1% Increased Gaming Revenue in Q2 2023

The regulator’s confirmation of the number of research projects approved for funding by the government comes after this entity reported in September that the Spanish gambling market had generated EUR 312.6 million in gross gaming revenues in the second quarter of 2023. As reported by DGOJ on the occasion, the Q2 2023 revenue level represented a 55.1 percent higher figure than in 2022.

The increase was strongly supported by the casino segment that generated EUR 149.9 million, or around 48% of the total gambling market’s Q2 2023 revenues. The figure simultaneously represented a 27.9% increase when compared to the same period last year and a 4.5% growth over the Q1 2023.

Slot and roulette segments also recorded the increased revenue levels in comparison to the Q2 2022 to see 29.9% and, respectively, 8.9% higher levels in the given quarter of 2023.

However, the growth of the sports betting segment during the Q2 2023 saw the largest percentage. Spain’s sports wagering industry generated EUR €133.3 million in gross gaming revenues to stand for the 118.9% increase when compared to the same period of 2022.

The regulator also reported in September 2023 that the total handle was19.6% higher on the year-on-year basis but still 2.0% lower than in the Q1 2023. The increased handle resulted in 3.0% higher withdrawals than in the same period of 2022 and 2.3% lower than in the first quarter of 2023 that saw a respectively reduced handle.

Raising Awareness

The growth of the Spanish gambling industry raises the country’s economic benefits. In return, the government raises awareness of the gambling-related adverse consequences and allocates significant funds to alleviate their impact.

Source:

‘’Spain finalizes projects for €1.3m gambling harm research grant’’, igamingbusiness.com, November 3, 2023.

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This year’s Bourne Free festival was attended by Dr Reece Bush-Evans from Bournemouth University as well as partner charities, the Gordon Moody Association and Ygam. At the festival, Dr Bush-Evans sought to determine the impact of gambling on LGBTQ+ communities as a part of a new research. Ultimately, the new study seeks to find potential reasons why representatives from such communities may engage in gambling activities.

Early findings of the new research uncovered some LGBTQ+ individuals can turn to gambling as a coping mechanism, while others may engage in such activities as a way to “mask their sexuality.” Moreover, early results confirmed that some LGBTQ+ people would rather engage in online gambling activities. The research explained that those people would prefer the online counterpart as physical gambling locations can be intimidating for them. At the same time, some LGBTQ+ people admitted that gambling treatment and support services may not be able to match their specific requirements.

In that line of thought, Ygam recently released the results of a study together with Dr Bush-Evans and Bournemouth University’s Gambling Research Group, uncovering that LGBTQ+ people are “statistically significantly more likely” to experience problem gambling and gambling-related harm. The study flagged that 71% of the interviewed LGBTQ+ adults admitted that they have experienced some form of discrimination or harassment in their life. As a result, gambling was identified as one method for coping with such challenges, making some LGBTQ+ people more vulnerable to gambling addiction and harm.

Research into the Impact of Gambling Continues

In light of the latest research by Dr Bush-Evans, Samantha Maskell, Gordon Moody’s recruitment and learning and development manager, explained that the charity continues to collaborate with Bournemouth University in an effort to better understand the needs of different communities. “We have recently been working with Bournemouth University and with Reece to understand and reach out to different communities, to build a research pack to find out what additional support can be needed and how we can adapt and build on out current programs,” she said.

“Gambling is enjoyed by many, very safely. However, there is a significant minority of individuals, particularly within the LGBTQ+ community, who might be exposed to gambling harms.“

Dr Reece Bush-Evans, member of the Gambling Research Group at Bournemouth University

Dr Bush-Evans said that there are plenty of people that enjoy gambling safely. However, he explained that some LGBTQ+ people may be impacted by gambling harm, which is a primary reason for the new research that seeks to examine their experience with gambling and identify effective support strategies.

According to Dr Bush-Evans, “life stressors” such as discrimination, social isolation and harassment can serve as triggers to push some LGBTQ+ individuals to gambling. The research is still ongoing. The results from the completed study are expected to be published later this year.

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The leading marketing company operating within the iGaming industry, ENV Media, announced it joined forces with the research-based management consulting company operating out of India, Dubai, as well as Indonesia, Ken Research. The new collaboration will see Ken Research conduct surveys, as well as case studies regarding the gambling market in India.

While monthly case studies will be issued, overall, the series of surveys are expected to run for one year. Upon completion of the surveys, Ken Research will prepare reports that reflect different topics regarding player behavior for customers in India. Additionally, the research will probe a wide range of topics, including gambling demand in the country.

The new research is expected to deliver invaluable insights regarding the market in India. At the same time, the studies are expected to grant ENV Media access to strategic information regarding the industry in the country, including product demand and player behavior.

The new collaboration comes at a time when lawmakers in India seek to implement higher taxes for online gambling activities. A proposal recently approved by the country’s Goods and Service Tax Council confirmed the implementation of an increased 28% tax, applicable for online gambling, casinos, as well as horse racing.

Namit Goel, Ken Research’s head of research, explained that the company is delighted to team up with ENV Media. He explained that the new collaboration brings together two companies with extensive experience within the iGaming vertical. At the same time, Goel predicted that the collaboration will deliver “actionable insights for the iGaming industry.”

“Our deep understanding of consumer behavior will support ENV’s data-driven approach and deliver systematic market intelligence, empowering the online gaming vertical.“

Namit Goel, head of research at Ken Research

According to Goel, Ken Research will bring important insights for ENV Media. Finally, he pointed out: “This kind of output will unlock new opportunities, enhance customer experiences and shape the future of a rapidly evolving industry.”

“We believe we need to expand our expertise and authority in the gaming vertical through primary insights into user traits, product demand and market dynamics.“

Svilen Madjov, head of research at ENV Media

Svilen Madjov, ENV Media’s head of research, spoke about the importance of insights into the gambling vertical via research that can have a positive impact on expansion and product delivery. Finally, he predicted that the collaboration with Ken Research will bring benefits to ENV Media.

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According to the Toronto-based organization, the Center for Addiction and Mental Health (CAMH), the significant increase in gambling advertisements across various media, including TV, broadcast and online has had an adverse impact on the well-being of consumers, pushing many of them into problem gambling.

CAMH Calls for More to Be Done to Protect Consumers

Although a recent measure to prohibit athletes from participating in gambling advertisements was introduced by the Alcohol and Gaming Commission of Ontario (AGCO) a few weeks ago, CAMH is not convinced that this is nearly enough. Marketing has become ubiquitous in the province and young people are being exposed to it.

AGCO has made the right call in prohibiting the use of athletes, celebrities, entertainers, and other role models that may impact young people’s perception of gambling, but this alone would not be enough. Ads are normalizing sports gambling, according to CAMH, no matter whether a famous person is featured in them.

One of the issues is that sports gambling is pushed as a form of entertainment, and while many consumers get excited about winning big, few realize that losing is usually the norm, argues CAMH. According to CAMH, a whistle-to-whistle ban ought to be introduced instead, suspending all betting-related content, including commercial messages, editorial content, and inducements.

CAMH also sees a problem with the increased chatter between commentators who discuss betting frequently. The organizaiton also wants AGCO to hold advertisements about gambling to pretty much the same standards as ads about alcohol. Sports betting in Ontario has been picking up its pace.

Ontario’s Sports Gambling Market Is Big and About to Get Bigger

In the first year of operation, sports fans in the province wagered as much as $35.5 billion on various contests in the province, across 76 regulated websites. There were 1.65 million active accounts in the first 12 months of official operation, with these numbers only going up. CAMH also wants to see the signage on stadiums and overlays of betting companies go.

These demands are not unreasonable as there is a global push for tightening regulation insofar as sports gambling goes. Fanatics, a newly-launched sportsbook in Ohio, USA, got under fire for a social media ad that linked the company’s sports apparel business and sports betting arm. The UK is undergoing a seminal overhaul of its gambling laws, and Europe in general is tightening its advertisement and gambling standards as a whole.

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Denmark is taking proactive measures to address gambling addiction and create a safer gambling environment for its customers through a new initiative. Leading this effort is the Danish Gambling Committee, which aims to conduct research and collaborate with experts in the field to promote responsible gambling practices.

To support its research endeavours over the next three years, the Danish Gambling Committee secured funding of DKK 12 million ($1.8 million). This funding was contributed by prominent gambling operators, including Danske Spil, Mr. Green, Betsson Group, Kindred Group, and Spilnu.dk. These operators, already licensed by the Danish gambling authority, are reaffirming their commitment to responsible gambling through this donation.
Despite being known for its strict regulations, the Danish gambling market has experienced significant growth in the past decade, largely driven by online gambling. However, research on responsible gambling and problem gambling has struggled to be on the same level.

The Danish Gambling Committee aims to bridge this gap by focusing on key areas such as the treatment of problem gambling, prevention of gambling harm (particularly among vulnerable groups like young people), prevention of harm in online gambling, and the collection of valuable knowledge about problem gambling.

Leading the committee is Jørgen Frøkiær, the head of the department at the university, who will assume the role of chairperson. Joining him on the board are representatives from esteemed institutions such as the University of Copenhagen, the University of Southern Denmark, Aarhus University Hospital, and Aalborg University.

“We are pleased that the gaming companies are contributing to being part of the solution, and we are now looking forward to helping a research area well on its way, which has had a difficult time for many years,” Frøkiær, said concerning the donations.

Kate Jacquerot, the legal director responsible for responsible gambling at Danske Spil, expressed the company’s support for the creation of a secure and safe gambling market in Denmark. She emphasized the importance of independent research conducted by the Danish Gambling Committee to understand how best to prevent and support individuals showing signs of gambling addiction.

Kim Olesen, the general manager for Denmark and Italy at Kindred Group, highlighted the company’s commitment to investing in research that addresses problem gambling and addiction.

“We do not want to make money from players who have an unhealthy relationship with gambling,” Olesen said. “It is therefore important that we are able to help those who need help.”

Kindred Group aims to achieve zero revenue from problem gambling and emphasizes the need to avoid benefiting from individuals with an unhealthy relationship with gambling. Olesen further praised the Danish Gambling Committee’s efforts in developing innovative approaches to treat gambling addiction and prevent problem gambling.

By focusing on research and collaboration, Denmark aims to enhance its responsible gambling measures and safeguard the well-being of its citizens. The proactive approach taken by the Danish Gambling Committee and the support of leading gambling operators are positive steps towards a safer and more sustainable gambling market in the country.

The committee’s primary focus will revolve around four crucial areas: the treatment of gambling addiction, the prevention of harm among children and young people, addressing addiction in the realm of online gambling, and the acquisition of comprehensive knowledge on the subject.

With the committee’s formation underway, it is anticipated that they will begin accepting applications for new research projects at the start of July. This will pave the way for innovative studies that contribute to finding solutions in an area that has long faced challenges.

Frøkiær expressed satisfaction with the involvement of gaming companies in being part of the solution. He emphasized the importance of advancing research efforts, acknowledging the struggles the field has encountered over the years. The committee’s formation is seen as a significant step forward in tackling these issues.

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Geolocation technology and services provider GeoComply announced it has teamed with the International Center for Responsible Gaming (ICRG) for a research project on self-exclusion programs.

Is Enhancing These Programs Beneficial?

The two-year research funded by GeoComply will study the long-term effectiveness of voluntary self-exclusion schemes implemented by land-based and online gambling operators to determine whether these programs would be beneficial for the industry.

Arthur B. Paikowski, president of the ICRG, commented on the partnership and the need for additional research on the prolonged efficacy of voluntary self-exclusion programs, explaining why further assessment of these programs is needed.

“There is a necessity to determine whether enhancing these programs would result in more customer participation and whether this would be beneficial,” he said.

The research will seek to provide answers to questions about the most effective long-term form of self-exclusion; the ideal time for a player to utilize a self-exclusion tool – both, online or at a land-based gaming venue; operator or regulator criteria for letting people who have self-excluded back into gaming; the potential stigmatizing effect of self-exclusion blocking people from using these tools; the most suitable way of registering; and others.

Happy to Support the ICRG’s Research

Highlighting the company’s commitment to responsible gambling initiatives since its inception over a decade ago, Anna Sainsbury, co-founder and chief executive officer of GeoComply, outlined the industry need for further evidence about the effectiveness of self-exclusion programs.

“We need more data to support the industry’s actions around RG, and I am really happy that we can support the ICRG’s research in this important area,” Sainsbury stated.

Dedicated to promoting responsible gambling practices worldwide, the ICRG is seeking to prevent people from experiencing problem gambling and reduce the harmful impact of excessive gambling on their lives by working closely with governments, regulators and industry stakeholders to promote responsible gambling policies and industry best practices, as well as engaging in research on gambling behavior and the risks of gambling.

The results of the two-year research on self-exclusion programs funded by GeoComply will be published in October 2025.

Last month, the geolocation technology and services provider announced that Super Bowl LVII registered 100 million geolocation checks, with 7.4 million user accounts accessing the service over the weekend and many bettors choosing to wager from the stadium while watching the game.

Also in February, GeoComply saw its patent infringement case against competitor Xpoint dismissed in court after a federal judge ruled GeoComply’s patent invalid, stating that it sought to patent subject matter that cannot be patented.

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UK independent charity GambleAware announced Tuesday it has awarded a £350,000 ($431,000) grant to help examine further the link of gambling harm with stigma and discrimination.

Stigma and Discrimination

GambleAware awarded the funds to the National Centre for Social Research (NatCen) and the University of Wolverhampton to support their collaboration with Liverpool John Moore University in examining how people who experience gambling harms are affected by stigma and discrimination.

The announcement of the funding came shortly after another research funded by GambleAware which examined gambling harms experienced by the white majority and minority groups in Great Britain showed large ethnic-related disproportions.

Commenting on the announcement, Anna Hargrave, chief commissioning officer at GambleAware, outlined the limited availability of research into stigma and gambling in Great Britain and the need for breaking down “the substantive barrier of stigmatization – and the discrimination it drives – faced by those experiencing gambling harms and their communities.”

Examine Different Societal Groups

The research will seek to determine how people experiencing gambling harm are also being stigmatized and discriminated against by analyzing different societal groups, including service and healthcare providers, civil society, third sector and charitable organizations, media and politics, and the gambling industry in general.

“Stigmatization causes significant harm in and of itself and can lead to people feeling shame, experiencing mental health challenges and social exclusion,” Hargrave added, further noting that it can also “stop people from accessing essential support or treatment services such as the National Gambling Treatment Service.”

Both organizations funded by GambleAware will also examine the disproportions in the impact of stigmatization across communities and the reasons behind these disproportions, considering the link with gambling addictions in addition to other challenges such as drug use, anxiety or depression, or lived experience of homelessness.

Determine Approach to Challenging Stigma

The end goal of the research is to identify what services, interventions, information campaigns and policies will be effective in challenging stigmatization, including in research and the media, to help reduce gambling harms for communities that are impacted most by stigma.

This research with NatCen and the University of Wolverhampton will be an important step towards a program of work that builds more knowledge in this area.

Anna Hargrave, CCO, GambleAware

The research is expected to deliver its findings in 2024 as GambleAware intends to focus on stigma in the next two years, planning to launch a major behavior change campaign to help reduce the stigma associated with gambling harm.

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According to Lure Clark, director of UBC’s Center of Gambling Research, there is some evidence to suggest that loot boxes and problem gambling have a link and are somehow related. Previous research in places such as the United Kingdom and Australia has claimed similar findings, although researchers stopped short of categorizing loot boxes themselves as a form of gambling. It wasn’t for a lack of trying.

What Clark Found Out about Loot Boxes in Video Games

Clark presented his findings at the BC Lottery Corporation’s New Horizons in Responsible Gambling conference held on Tuesday and spoke about what these digital assets were and how they got popular. Clark mostly said that loot boxes originated in games such as Electronic Arts’ FIFA and Valve’s Dota 2 and Counter-Strike: Global Offensive games.  

The digital containers offered a hidden prize that was generated randomly, although each container these days displays the percentage of a given type of item dropping from it – that was also changed from previously not displaying any percentages at all due to regulatory pressure in markets where loot boxes are available.

Speaking to Global News, the outlet that did the original reporting, Clark noted that other jurisdictions around the globe are also tussling with the issue of loot boxes and how to approach them. He said:

Researchers have seen this link in past research, a correlation between higher levels of spending on loot boxes and higher symptoms of problem gambling, but until now we haven’t really understood the cause and effect behind that relationship.

UBC’s Center of Gambling Research director Luke Clark

His research focused on 400 regular gamers aged 18-24. These gamers were not gamblers per se, but Clark wanted to see if their interaction with loot boxes would push them into gambling. According to the researcher, who set up a follow-up period of six months, people who were spending more on loot boxes were also more likely to end up gambling as well, Clark concluded.

Links Established Between Excessive Spending and Gambling

“We can see that clear migration effect, the people who are spending more on loot boxes are more likely to initiate gambling over that follow up period,” the researcher noted in his observation. The video gaming ecosystem has proven a particularly treacherous conduit of gambling as well.

UBC graduate student Raymond Wu who also examines the link between gambling and gaming said that streaming platforms such as Twitch were still dominated by gambling content even though the Amazon-owned platform undertook some measures to curb the proliferation of these measures.

This is dangerous, explained Wu, who said that people could simply end up being “triggered” by watching others gambling. Self-exclusion programs do not include Twitch streams. Meanwhile, an Austrian court has ordered Sony to pay back consumers over FUT transactions.

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