08.31.2022. Daily highlights

Wed Aug 31, 2022
  • Fanatics CEO on global sports retailer strategy

    Fanatics CEO Michael Rubin intends to take bets on US sports by the end of 2022. He will build a global sports retailer for both merchandise and sports betting.

    fanatics sports

    On the FanDuel-backed The Volume podcast, Rubin shared, “We really want to give the sports fan everything they want digitally in one place. I think that’s a massive opportunity.” He added that they have spent 10 years building a great experience for the sports fans with the merchandise.

    Also, Fanatics has close to 100 million sports fans they could give them everything in one place. Rubin’s idea is to give the sports fan the ultimate digital sports experience and everything they want in one place. Fanatics’ ambitions to expand into sports betting is showing, as they have created a betting and gaming division. BetFanatics brand name is official and they have made key hires including ex-FanDuel CEO Matt King to the CEO role, and former Action Network COO Ari Borod as its CCO. Not to forget, former Paysafe SVP of iGaming product & strategy Scot McClintic as its new CPO.

    The new sports experience will have to face other trustworthy operators including US market leaders FanDuel, DraftKings, and BetMGM. On this topic, Rubin stated that 10 years from now, sports gambling will be completely mainstream in most places in North America, and the experience of sports betting will improve as well. He is ready for a marathon, not a sprint, and is ready to create the best product for sports fans.

    Source: EGR.global 

    Lately, gaming commissions across North America have found breaches while auditing operator functions. This shows that sites are being regulated and guided for a safer gambling experience for all players.

    $60k Iowa penalty for Caesars

    Caesars, a legal sportsbook operator, has been issued a $60,000 fine by the Iowa Racing and Gaming Commission (IGRC) for illegally

     allowing the use of credit cards on its sportsbook site. To start with, in Iowa, you cannot use credit cards to fund any form of gambling in the state.

    ceasars fine

    The operator received the fine as the commission found 500 credit card transactions in 2020/2021. Worth was estimated at around $212,000. IGRC director of gaming, Brian Ohorilko expanded, “There was a specific incident in July of 2021, where we found credit card transactions. And so it was discovered at that time, a full audit was completed,” Ohorilko explained. “Throughout certain periods in 2020, 2021, prepaid debit cards were purchased using a credit card and a number of those transactions were permitted and went through,” he added.

    To give some background, Earlier this month FanDuel got a fine of $75,000 due to allowing credit card gambling. Speaking about the fines, Ohiorilko called on operators to ensure that they do not breach Iowa statutes. “We’ve heard some positive things from the different operators that have had problems. They are taking steps to not only correct the action but to develop procedures, including self-checks,” Ohorilko says.

    Source: EGR.global

    $48k Ontario fine for Unibet

    Kindred Group is an online gambling operator which consists of 9 brands, including Unibet. After promoting “generous welcome offers” they violated advertising standards,

     which led to a $48k penalty.

    To start off, under Ontarian gambling laws, operators cannot advertise inducements, bonuses, or credits, except on their own respective website. Also, operators can

    unibet fine

    advertise through direct advertising or marketing after receiving player consent.

    The alcohol and Gaming Commission of Ontario (AGCO) issued the penalty for violating the province’s gambling advertising laws. The brand posted or aired multiple broad gambling inducements promoting “generous welcome offers” over a period between May 19 and May 22.

    AGCO CEO and registrar, Tom Mungham welcomed the OMP, “We expect all registered operators to achieve and maintain the high standards of responsible gambling, player protection and game integrity,” Mungham said. “The AGCO will continue to monitor these gaming sites’ activities, and ensure they are meeting their obligations under Ontario’s Gaming Control Act and the standards,” he added.

    BetMGM, PointsBet, and DraftKings have also felt the wrath of AGCO in recent months, as the regulator looks to enforce a tough line on igaming operators. To date, fines issued by the regulatory body total $136,000 (£89,219).

    Source: EGR.global

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