Tech & innovation – Page 2 – FairOdds Network

October 11, 2023

Sportradar and Genius slapped with patent suit

Panda Interactive has filed two separate lawsuits in the Texas Eastern District Court accusing Genius Sports and Sportradar of patent infringement.

The suits claim Sportradar and Genius, which are both Panda competitors, implemented the company’s video streaming technology patents without authorisation.

Panda said it had developed several patents in the live data and content streaming verticals. These include technology that allows viewers to see live odds and place a bet while watching sports.

The company say competitors have “widely copied” its patents in the streaming market generally, and even more so in the online sports betting market.

“We have made substantial investments in the development of our technology and cannot tolerate having our patented technology used unfairly by others and against us,” said Panda chairman Donald Schupak.

“No one wants to see their own arsenal used against them in battle.”

Sportradar and Genius accused of patent infringement

The filings also..

September 14, 2023

Genius shares down 10% as Apax sells $121m in stock

A subsidiary of one of Genius Sports' major shareholders and former owner, Apax Partners LLP, will sell 20,000,000 shares in the business.

The underwriter of the sell-off, Goldman Sachs & Co, will have the option of purchasing an additional 3,000,000 shares worth $18,120,000. The option will end after a 30-day period.

The stock to be sold off is worth – as of close of trading on 13 September – $120.8m (£97.1m/€113.1m).

The total shares on the table represent just over 10% of all of Genius’ 216,627,899 shares.

Following the announcement of the stock sell-off, Genius’ share price has fallen 10.2% to $5.4 per share since trading opened. The supplier will not receive any of the proceeds from the sale.

Former owner opts to sell stock

Apax is the provider’s former owner, having purchased the company from Three Hills Capital Partners in July 2018.

Funds advised by Apax kept hold of the business for over two years prior to Genius going public on the New York Stock Exchange via an ..

September 1, 2023

Ontario: The state of play

More than a year on from the regulation of the Ontario gaming sector, gambling businesses have each adapted to the market in their own way. But how can operators stand out from the crowd in North America’s most competitive market?

With every gold rush comes the prospectors.

In the 16 months following the regulation of the gaming sector in Ontario, gambling operators of all shapes and sizes have thrown the dice to get a slice of the biggest and most dynamic market in North America.

Those involved range from former grey market players trying to make the regulated transition, the big European operators, media brands which have grown a betting wing and land-based companies trying to get in on the action – plus everything in between.

The landscape

Ontario has become an incredibly competitive market, with iGaming Ontario recording 46 companies operating 71 brands as of Q1 2023.

However, one trend to note is its diversity. This is especially striking when compared to the US which, butt..

August 16, 2023

Caesars upgrades William Hill Nevada mobile sportsbook

William Hill has revealed its upgraded Nevada mobile sportsbook app.

The revamped offering sees William Hill’s mobile betting app migrate to Caesars’ proprietary Liberty platform.

Caesars has owned William Hill’s US business since September 2020, when it purchased the company in a £2.9bn deal. The operator later sold William Hill’s non-US assets to UK-facing operator 888 for £2.0bn.

Read the full story on iGB North America

July 17, 2023

Entain to acquire Angstrom Sports in £200m deal

Entain will acquire sports modelling, forecasting and analytics specialist Angstrom Sports in a deal worth up to £203m.

Under the deal, Entain will pay an initial £81.0m, as well as £122.0m in additional payments over a three-year period, totaling £203.0m.

Angstrom utilises simulation-based predictive modelling to offer a range of pricing and forecasting capabilities to sportsbook clients.

Primarily serving the US market, Angstrom’s offering covers the most popular competitions and leagues in the country.

The acquisition will allow Entain to offer a full suite of end-to-end analytics, risk and pricing capabilities for its US operations, namely BetMGM, which it runs as a joint venture with MGM Resorts International.

This will improve customers’ US sports betting experience including more betting opportunities, optimised parlay and in-play products, it added.

The acquisition is expected to complete during Q3 2023.

Unlocking new US opportunities

“We’re delighted Angstrom will b..

July 5, 2023

Sportradar wins bid for CONMEBOL data rights

Sports data analytics and technology business Sportradar has announced that the continental governing body of South American football, CONMEBOL, has chosen the business as its new betting data rights partner.

The outcome of the competitive bidding process will see Sportradar become CONMEBOL’s exclusive audio visual and betting data rights partner.

The multi-year deal covers the worldwide rights for three CONMEBOL football competitions – the Copa Libertadores, the Recopa Sudamericana and the Copa Sudamericana. Under the terms of the agreement, the rights will run for the next four seasons.

Sportradar and CONMEBOL strengthen relationship

CONMEBOL’s secretary-general, José Astigarraga, said the organisation was “glad” to strengthen its relationship with Sportradar.

“We are sure that the prestigious CONMEBOL club tournaments, with more than 60 years of history, will be a great showcase to be able to get closer to the true fans of South American football,” he added.

since 2019, sport..

June 6, 2023

Sorare: From pressure point to new regulations

Sorare has updated its operating model in France, and gambling regulator ANJ is yet to confirm whether it meets its regulatory criteria, writes Jake Pollard. However, news that the French government is working to pass new regulations for Web3 “pioneers” shows how important the sector is to the French authorities.

In a statement posted on Medium, Sorare said it had updated its product roadmap as a “temporary solution”.

This decision was taken in accordance with “the French National Gaming Authority [l’Autorité National des Jeux (ANJ)] that creates an optional alternative method of entry for users based in France only”.

Essentially, Sorare has increased free-play access to its fantasy sports leagues for players in France. Even if the French language version of the company’s statement, unlike the English text, mentioned that the new method of entry would be available to players “without blockchain cards”.

A marker of regulatory pressure

Overall, the move by Sorare is a marker of t..

May 24, 2023

Bet365’s Hillside rolls out new Platform Innovation Hub

The Hillside Technology business of Bet365 has announced the launch of a new Platform Innovation Hub to develop new technologies.

The department will explore new technologies and identify whether they can contribute to the Bet365 platform. The hub will collaborate with technology teams to establish ways in which processes can be integrated across its departments.

Platform Innovation will provide insight, guidance, tools and benchmarks. It will also connect people across the organisation and provide a space to experiment with new technologies and approaches.

The new hub will launch with a team of technology specialists recruited from both inside and outside of the Bet365 business.

“The strength of our product and the creativity of the people who engineer it, has ensured we’ve continued to lead the market,” head of Platform Innovation, Alan Reed, said.

“Looking forward, we want to take the next quantum leap. Doing so will require looking outward and exploring the new technologies an..

May 23, 2023

Underdog pens North America deal with GeoComply

Fantasy sports operator Underdog has selected fraud prevention solutions provider GeoComply as its geolocation supplier for North America.

Previously, Xpoint served as Underdog’s geolocation provider.

Under the terms of the deal, Underdog will access GeoComply’s Core suite and Solus product for its fantasy sports offering, as well as its planned sports betting operations.

GeoComply’s Core product is the supplier’s flagship geolocation service. Customers who have the licence to operate this product can also access the business’ range of fraud prevention tools to protect their operations from bonus abuse, identity theft and chargeback fraud.

The business’ Solus solution is a fantasy sports geolocation solution for web-based players. The system runs on HTML5 browsers, removing the need for players to download additional apps or plug-ins.

GeoComply praise deal

GeoComply vice-president of business development and licensing, Sam Basile, said the business was “thrilled” to be working wi..

May 4, 2023

Buying and selling the future of US sports betting

WagerWire is taking the simple concept of buying and selling bets and aiming to disrupt the US sports betting industry. As it looks to do away with transactional sportsbook experiences, and operators buy into the vision, chief experience officer Travis Geiger tells iGB there’s a new breed of executives ready to take charge.

“From the bettor’s point of view, it’s like StockX or Coinbase,” chief experience officer Travis Geiger says of WagerWire’s core proposition. “We want to be your central hub for all things sports betting. We’re not just trying to sign you up; we’re trying to be a part of your betting journey.”

It’s a big claim, but WagerWire is entirely different from any other US sportsbook. It holds affiliate vendor licences in 16 US states as well as Washington DC, Puerto Rico and Ontario. Not to mention affiliate partnerships with some of the biggest names in the industry – but the core product feels unique to that sector as well.

Want to understand WagerWire? Think StockX, ..

April 27, 2023

What’s covered in the Gambling Act white paper?

After years of delays and speculation, the most transformative review of gambling in the United Kingdom in 18 years has finally been published.

The publication of the Gambling Act review white paper signifies a landmark upheaval of how gambling will be regulated in the UK going forward, in an age of smartphones and 24/7 internet access.

To say the review has been much anticipated would be an understatement. Industry trade bodies, operator groups and industry critics alike have waited eagerly for the white paper’s publication.

It has been an eventful two years and four months since the UK government announced the review – one that has encompassed the resignations and appointments of two prime ministers, the declaration of a cost of living crisis and Russia’s invasion of Ukraine.

While the white paper document outlines much of what the industry expected, it contains a few unexpected additions – including the addition of a gambling ombudsman, to give customers one point of contact for..

March 22, 2023

GiG banks on the power of two

Richard Brown’s tenure as Gaming Innovation Group (GiG) chief executive began with a major change of direction, with the sale of its B2C assets to Betsson. Almost four years on, and with business booming for the B2B supplier, he’s poised to make another huge call with plans to split the business into media and platform suppliers.

When he was confirmed as permanent CEO of Gaming Innovation Group (GiG) in November 2019, Richard Brown pledged a focus “on delivery, execution and optimisation, putting us on a path for great focus and renewed growth”.

The business reported revenue of €43.0m for 2019, at a time it encompassed B2C operations, a platform business and affiliate marketing operations under the GiG Media banner. Brown then divested the B2C operations to Betsson early in 2020.

This, he has explained previously, created a focused business, with staff putting all efforts into the B2B platform and media operations.

In 2022, Brown’s third full year as GiG CEO, revenue hit €90.1m,..

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Tag: Tech & innovation