UK advertising

Responsible Betting Key in LeoVegas’ Bid for License to Operate in Sweden

Posted by Craig Gustling on in Blog, Local, News, UK Today / 0 Comment

LeoVegas, a mobile-focused online betting firm, has confirmed that its application for a license that will see it offer sports betting and casino in its native country of Sweden. The move is part of its expansion efforts in the industry and responsible betting.

 

Beginning January 1, 2019, Sweden will become a licensed betting market. In line with that goal, the country started an application process ahead of the record restructuring of its gambling laws.

 

LeoVegas is seeing the Swedish market as an important element in its efforts to achieve 2020 financial targets. Its goal is to realize a revenue of at least €600 million and EBITDA of €100 million and above.

 

Considering the mounting pressure on betting firms to adopt responsible betting, LeoVegas has adopted the issue and turned it to an advantage. It is now differentiating itself through the commitment to responsible betting. The efforts have been profitable as they have positively impacted revenues – in the second quarter of the of the year, the company’s Net Gaming

 

Revenue (NGR) from the regulated markets accounted for 39% of its total NGR.

Responsible betting is a great opportunity to localize a firm’s offering and become more relevant to the region. Through it, more marketing channels are created while the customer experiences are improved.LeoVegas is positive about the extensive guidelines required for responsible gambling that Sweden regulating market will offer. Commenting on the firm’s application, Gustaf Hagman, the group’s chief executive officer said, “LeoVegas has always had a focus on this area and it is something that it welcomes.”

 

In the Swedish market, LeoVegas will be fronting LeoSafePlay, its responsible gaming platform. It is operated as a stand-alone business to ensure that it has an undivided focus on growth and implementation of market trends in the responsible gambling field. It seeks to use upcoming technologies such as artificial intelligence and machine learning to offer the best experiences for the next generation of gamblers.

 

The firm is hopeful that the application will be successful. That way, it will have an opportunity of advancing its culture, offering the best gaming experience for people betting in its home country, and ultimately increasing NGR from regulated markets. In the long run, the firm will generate more of its NGR from the regulated markets which are viewed as prohibitive by a majority of other industry players.

 

Hugman revealed that LeoVegas has been eyeing the Swedish market. He said, “While it has been known for some time that Sweden is introducing a local license system, it is very exciting to formally submit an application and that is something we have been looking forward to for a long time.”

“Sweden becoming a locally regulated market is a milestone for the country, the industry, and LeoVegas.” He stated.

 

“Now for the first time, everyone can compete on equal terms in a regulated environment, where responsible gaming is a very important part,” he continued indicating the importance that the Swedish betting market will have.

 

He expressed optimism by saying, “We believe we have great opportunities gaining market shares in the Swedish market. LeoVegas is a company that operates in several regulated markets and thus has the right tools and knowledge to create sustainable and strong growth.”

 

Brand New Advertising Rules Imposed on Gambling Operators

Posted by Craig Gustling on in Blog, Local, News, UK Today / 0 Comment

The gambling industry is taking a toll on the British society. This is with regards to findings that was deduced by the joint Competition and Markets Authority (CMA) and the Gambling Commission committees. These findings deduced that online gamblers were hardest hit with the menace.

 

Most members of the British society have lodged complaints with the UK regulatory watchdog. Indeed the watchdog has received countless complaints from the members of the public. They have particular raise issues with the fact that the government failed to deal conclusively with the £100-per-spin fixed-odds betting terminals. These two terminals jointly earned a whopping £1.8 billion a year for the bookies.

 

As a response to these complaints and criticisms, the government has instituted harsh reactions. These restrictions mainly govern the kinds of persons they might impact as well as the number of persons they may possibly reach.

 

It came up with these stringent measures after holding a thorough and inclusive consultative forum with the various stakeholders in the field of gambling. These include the various betting firms, consumer watchdog agencies, and representatives of gamblers.

 

To make these resolutions a reality, the UK gambling commission has issued several directives to these effects. It has made it simpler for gamblers to redeem their deposits in the event that the gambling company concerned is found guilty of violating the laid down rules of engagement. This directive shall take effect officially on 31st October 2018.

 

Also, the betting firms that are found guilty of breaching the laid down codes of conducts that face heavy fines. Some of the most critical areas that will attract these heavy fines shall be adverts that target small children, those that tend to make gambling appear glamorous, those have misleading information and those that tend to encroach into the personal space and privacy of consumers. This Directive shall also apply to the third party marketing firms like the marketing agencies.

 

Over and above these fines, the gambling commission has also imposed an eight-week cap on the resolution of all disputes. This is to minimize the tension that generally builds up whenever such issues arise. It will also guarantee a speedy resolution of the said issues and ultimately confer greater inconveniences to the consumers.

 

A couple of betting firms have already arrived at their way-forwards as regards these new developments. Ladbrokes, BGO Entertainment, William Hill, and PT Entertainment have already indicated that they will alter their rules of bonuses. They have stated that they will revise the way in which they issue their bonuses to be consistent with the new regulations.

Brian Chappell, the founder of the Justice for Punters, had these to say:

‘It is interesting to note that the Gambling Commission has finally conceded the fact that gamblers require tighter regulatory frameworks. It is not possible to state with absolute certainty that these regulations will truly achieve their desired ends at the moment. The truth shall become clearer only with time. Let’s wait and see if these regulations shall bring about far-reaching repercussions. Even though this directive is not comprehensive, it is nonetheless highly welcome.’

 

2018 World Cup: UK Gambling Advertising Received Criticism

Posted by Craig Gustling on in Blog, Local, News, UK Today / 1 Comment

 

Over 90% of TV advertising breaks during most of UK live football matches consist of at least one type of gambling advert. This according to a recent study by Victoria Derbyshire, which evaluated well over 25 games, which involved live soccer broadcasting in the UK

 

More so, one in five of the commercials displayed during 25 matches, was for betting purposes.

The UK government has recently considered the implementation of the appropriate controls for the ever-increasing number of gambling ads.

 

According to betting firms, the adverts have `limited impact` on gambling rates

Based on a contract with the industry, advertisements can only be broadcasted after 9 pm, with an exception in sporting events.

 

Early this year, countries such as Belgium and Australia passed a law to ban gambling adverts that were broadcast before the watershed period

Just in the previous month, the Local Government insisted that improved restrictions needed to be implemented to control the advertisements. According to the government, there was an increasing concern about the number of gambling adverts, which were compromising the state’s ability to be socially responsible for growth.

 

The state outlined the fact that adverts in the live matches were broadcasted to millions of viewers which also included children, while most of the Premier League and Championship teams received funding from betting companies

 

Besides that, a recent similar study conducted by the Goldsmiths University showed that an average of 250 distinct adverts was displayed during the BBC`S Match of the Day Session. Most of these adverts were on hoardings, post-match interviews, just to name a few. These advertisements have caused concern all over the country, with many believing that it should be controlled.

 

The UK advertising watching is also evaluating various claims about the irregularities in advertising by several betting companies. Some of these companies including Bet365, Coral, William Hill, just to name a few. It is reported that the advertising standards authority of the UK received hundreds of claims from views about the gambling ads which were broadcasted during the World Cup. This well over three times the number the watchdog receive in the previous month before the World Cup had started.

 

Most of the complaints received by the watchdog group are related to the number of gambling ads that appeared during the competition. Other groups also determined earlier in the week that World Cup viewers in the UK were exposed to an average of 90 minutes of betting ads. Most of the complaints also mentioned that the gambling adverts were irresponsible and insensitive to children.

 

Increased restrictions and regulations on advertising are to be expected in the next few coming weeks.These restrictions are likely to be released by the Department for the Culture, Digital, Media and Sports at some point this year.

 

The government has also taken a stance on the issue by stating that `gambling companies` have the role of protecting their players. More so, the state also added that more work is required if these results are to be achieved.