Tech & innovation – Page 5 – FairOdds Network

September 15, 2022

Sportradar pens deal with European Table Tennis Union

Sportradar’s Integrity Services unit has entered into a bet monitoring agreement with the European Table Tennis Union (ETTU), the governing body of table tennis in Europe.

Sportradar will monitor key events, including matches in the European Championships, as well the as the men’s and women’s Champions League.

This will be done through Sportradar’s Universal Fraud Detection System (UFDS), its in-house bet monitoring system.

The UFDS is already active, having monitored the 2022 European Championships in Munich last month.

Through the system, a global team of integrity professionals will analyse the betting patterns of matches for abnormalities, allowing for suspicious activity to be flagged for further investigation.

“Protecting the integrity of European Table Tennis is a top priority, so it is vital that there are robust measures in place in to safeguard our competitions from match-fixing,” said European Table Tennis Union acting president Pedro Moura. “Through this partnership, m..

September 14, 2022

Amelco to launch in South Africa with new operator LulaBet

Sports betting platform provider Amelco is set to launch in South Africa, through a partnership with new operator LulaBet.

LulaBet is set to launch in the market this month, with an aim of being “South Africa’s premium sports betting and entertainment website”.

Amelco head of business development Brandon Walker said he expects the launch of Amelco’s product to have a major impact on the South African market.

“Our launch in South Africa is going to be a true gamechanger – we have the insight on exactly what the market needs, and with our market-leading tech, we’re ready to bring the first true end-to-end tier-one platform and sportsbook to local players,” he said. “Amelco has been servicing the industry’s best for 15 years and, having prepared to enter South Africa for 12 months, we have finally found the right partner in LulaBet to bring local players the best of breed.

“Together, we genuinely believe we can transform this market and we can’t wait to get started.”

Ian Gutteridge,..

September 7, 2022

Betegy to ramp up US push following Yolo investment

Betegy has closed an investment round led by Yolo Investments – the venture capital arm of the Yolo Group, which operates the Sportsbet.io brand.

Betegy – which provides data visualisations, automated on-air and retail graphics, and casino marketing assets to operators – intends to use the funds to continue its scaling in the US. The announcement follows a previous funding round led by JKR Investment Group, which was announced in 2020.

iGB spoke to both Betegy founder and chief executive Alex Kornilov, and Yolo Investments founder and GP Tim Heath to discuss the deal and how Betegy plans to further adapt its products for the US market, and the startup funding sector as a whole.

What encouraged you to invest in the business; what do you think that Betegy brings to the market that wasn’t on offer before?

TH: Betegy’s great innovation is to automate the previously time-consuming process of turning reams of data into world-class content. We know the product works because it’s been succ..

September 2, 2022

Simon Hammon’s lessons from a lifetime in slots: The present

Simon Hammon, recently named chief executive of Relax Gaming, insists he’s not a typical “product guy”. But the games released under his watch, like Starburst during his time at NetEnt, have had a massive impact on the industry. In the second part of a three-part interview, Hammon offers advice for businesses in the crowded slots space of today.

Simon Hammon’s success at NetEnt ultimately took him to Relax Gaming. In part one of this series, Hammon outlined how the move might have looked to some like a “step down”.

But since joining, the business has been growing strongly. For the second quarter of 2022, revenue was up 20% quarter-on-quarter to £5.2m, with six new titles rolled out and the Dream Drop jackpot feature going live.

Its partner base expanded to 15 new operators in that same period, while 132 studios were integrated into its RGS, while its reach extended to Italy and Spain, with a licence for Ontario setting it up for entry to North America.

That business-minded view has..

August 17, 2022

Sportradar shares up 15% after raising full-year revenue guidance

Data provider Sportradar’s share price rocketed after it raised its full-year revenue guidance for 2022.

The announcement came as part of its second-quarter financial report, in which the provider also revealed that its revenue for the three months to 30 June was €177.2m, up 23.0% year-on-year.

In total, €29.1m of Sportradar’s revenue came from the US, up by 66.3% as the US market continued to expand. Rest-of-world betting services brought in €95.5m, up by 20.6%. This, the business said, was mostly due to more focus on “higher-value-add” services such as managed betting services.

Rest-of-world audiovisual services to betting operators came to €39.7m, up by just short of 10% thanks mostly to new customers.

Other operations brought in a further €12.9m.

The business then paid €43.4m for purchased services and data licences, up 33.1%, plus €64.4m in personnel expenses, up 37.6%, €21.2m in other operating income, a slight increase, and €49.2m in depreciation and amortisation, up by 75…

August 17, 2022

Genius beats revenue and earnings guidance in Q2

Sports data supplier Genius exceeded its revenue and earnings guidance in Q2 of 2022, while its loss was drastically reduced as large stock-based payments no longer weighed into its earnings.

The operator’s revenue exceeded its guidance for the quarter, which was set at $68m.

Betting technology, content and services brought in $44.8m, which was up by 10.4% year-on-year. Genius said about half of the increase was due to new customer additions, around $1.5m from renewed or renegotiated contracts with existing clients at higher prices, and a further $500,000 from “increased customer utilisation of existing Genius content”.

Revenue from media technology, content and services almost doubled to $15.0m. Sports technology content and services revenue was $11.3m, up 56.9%.

Looking at revenue geographically, $43.9m came from Europe, a 4.5% increase, $21.4m from the Americas, more than double the total from a year earlier, and $5.8m from the rest of the world, up by 34.9%.

Genius’ cost of re..

August 9, 2022

The killer quartet of sportsbook performance

As sportsbooks in North America move from acquisition to retention, sportsbook performance has become more important than ever. But what does performance actually mean? Russell Karp of DataArt outlines the four key factors.

The promise presented by sports betting in North America has created severe competition. Beyond big casino and media giants like Disney, we see retail companies – such as Fanatics – trying to actively take their place in the market. New York sportsbooks alone brought $425 million in gross revenue in the first four months of 2022.

However, in a rush to be the first to attain licences and launch, operators often neglect the quality of their platforms. Early in 2022, when thousands of bettors flooded the freshly opened sportsbooks in New York, we saw betting platforms that were glitchy: a direct result of poor development. Bettors experienced technical issues such as login errors, the inability to place a bet or cash out, and more.

For example, Caesars faced a mas..

August 8, 2022

The house always wins

Risk seems inherent to sports betting, so suppliers promising to underwrite sports betting losses may seem like a unique approach. But interest is piqued among operators. iGB speaks to Richard Thorp, director at RPM Gaming and consultant for Atlas-IAC, and Sergei Efimenko, CEO of Atlas-IAC about their new no-risk sportsbook product.

The claim of a no-risk sportsbook – brought about by a collaboration between RPM Gaming and software provider Atlas-IAC – may raise some eyebrows: after all, sportsbooks are all about risk. But the concept can be explained rather simply.

“The idea is, if you are a casino operator, we will integrate as an iframe into your platform – but we will underwrite all the risk,” says Richard Thorp, director of RPM.

“So the simple pitch is: take the frame, plug it in, and we’ll run a sportsbook as another vertical kind of product.”

richard thorp, director, rpm gaming

In taking away the fear of losses resulting from bad trading, Thorp says the product has a clear ..

August 1, 2022

AGTech secures further terminal tenders in China

Beijing AGTech GOT Technology, the Chinese arm of lottery solutions platform AGTech Holdings, has secured a series of tenders to provide more sports lottery terminals across the country.

AGTech GOT will supply terminals in the Guangxi Zhuang Autonomous Region and Mongolia Autonomous Region of the People’s Republic of China, as well as in the Yunnan, Sichuan, Jiangsu, Hainan and Hubei provinces.

The latest tender wins expand AGTech GOT’s presence in the Chinese sports lottery terminal market, with the business having in place a wide range of similar deals.

These included agreements signed in January this year to supply technology and services in the Gansu, Zhejiang, Henan, Hebei and Jiangsu provinces, as well as the Shanghai and Tianjin municipalities.

“AGTech GOT has won many tenders in various provinces, municipalities and autonomous regions across China, which reaffirmed the hardware division’s continued dedication to and leading position in China’s sports lottery terminal marke..

July 27, 2022

Kambi pivots to modularisation as DraftKings exit continues to hit Q2 revenue

Betting supplier Kambi will increase its focus on modularised products rather than its full sportsbook solution – and may seek to make acquisitions – after key client DraftKings’ migration away from Kambi’s sportsbook continued to affect its earnings in Q2.

Revenue for the supplier for the quarter ended 30 June was down by 18.8% from Q2 of 2022 to €34.7m (£29.2m/$35.2m), a change the business said was due to the migration of US betting giant DraftKings away from Kambi’s platform and onto the SBTech product it acquired in 2020.

While DraftKings has already completed its migration, two other key clients are also taking steps to move away from its platform in favour of in-house options. Unibet operator Kindred has been building its own platform, set to launch when its partnership with Kambi ends in 2024.

If DraftKings – which produced 25% of Kambi’s revenue the prior year – is excluded, revenue was up 16% from Q2 of 2021.

Penn National gaming, meanwhile, acquired theScore last year, ..

July 25, 2022

DIY or third-party: the sportsbook technology debate

The debate over whether operators should build their own technology or use a third-party solution has raged for decades, but it appears to have grown more intense as the US market opens. However, as Daniel O’Boyle reports, it may not be a question with a clear answer

It’s said that if you want something done well, you should do it yourself.

That appears to be an adage many sports betting operators have taken to heart.

Hop on any earnings call for a US operator, and there will no doubt be plenty of mentions of “proprietary sportsbook technology”.

The demand among operators for in-house solutions is backed up by their money. In 2020, DraftKings merged with SBTech, valuing the supplier at $634.1m. Last year, Caesars acquired William Hill for $3.7bn, mostly for its proprietary technology.

Meanwhile, theScore announced a long process to build its own sportsbook technology, which surely played a major part in Penn National Gaming acquiring it for $2bn.

“I don’t want to get distracted b..