Global leaders in sports betting have joined forces to establish a new entity in Brazil, the Brazilian Institute of Responsible Gaming (IBJR), seeking to contribute to the ongoing discussion and development of the gambling market in the Latin American country.

‘Collaborate with All Sectors of Society’

The establishment of the new body focused on responsible gaming comes ahead of the upcoming regulation of the sports betting market which is technically called “fixed odds betting” in Brazil. The Federal Government is expected to introduce a new regulatory framework based on law 13.756/18.

Elected president of IBJR, André Gelfi, outlined the new body’s mission “to collaborate with all sectors of society that want to learn more about the industry and understand how it can be harmoniously integrated into the Brazilian economy, as it has in other countries.”

We want to help build a safe regulatory environment for customers while financing the public sector, and creating a sustainable operating environment for companies.

André Gelfi, president of IBJR

Gelfi then noted that IBJR members have seen successful and not-so-successful regulatory regimes and accumulated enough expertise in the field to help the government define the rules for the national market.

With bet365, Flutter Entertainment, Betsson Group, Betway Group, Yolo Group, Netbet Group, KTO Group, and Rei do Pitaco as founding members, the newly-established IBJR has representation from operators active in more than 100 countries.

Sensitive Aspects Require Responsible Treatment

Speaking about markets with successful regulation, Gelfi added that in these countries, “sports betting is seen as a source of entertainment that helps preserve the integrity [of the] sport,” adamant that “the sector’s sensitive aspects, such as compulsive gambling and money laundering,” should be addressed “in a forceful, logical and responsible manner.”

And while the country’s continental dimensions are considered a challenge for regulation, the IBJR believes the size of Brazil should not be viewed as a constraint and is eager to provide a meaningful contribution to the technical aspects of regulation based on the comprehensive experience and global expertise of its members.

“No other country has enjoyed such a favorable environment for the construction of a successful regulation that can be an example for the world,” Gelfi continued, urging the government to use “aspects of countries that have successfully regulated and adapt them to the local reality,” certain that the availability of clear and demanding compliance rules will set the local market on strong footing.

The legal director of IBJR, Rafael Marcondes, commented on the importance of regulation, comparing Brazil with the US as both countries legalized sports betting in 2018. Unlike in the US, where “regulation has been happening quickly… and bringing positive results, … Brazil has fallen behind, allowing the proliferation of companies that are not committed to responsible gaming, which jeopardizes the credibility of the market without providing minimum guarantees to consumers,” Marcondes concluded.

One of the first sports betting brands to launch operations in Ontario, Coolbet, announced its decision to withdraw from the Canadian province due to the extremely competitive environment.

GAN’s sports betting brand Coolbet launched operations concurrently with the official market launch in Ontario in April last year, but is now set to become the first to leave, citing the extremely competitive market conditions.

In a recent blog post, Coolbet announced that the brand will stop operating in Ontario on April 3, 2023, advising its customers to withdraw their remaining funds as soon as possible. Coolbet also provided its players with a timetable, stating that all deposit options will be turned off on March 21 and that its casino and sportsbook will close by the end of the subsequent day, March 22.

“If you have a bet that cannot be settled by then because the outcome is still unknown, the bet will be voided and refunded,” the sportsbook told its customers, outlining that “this includes futures and in parlays, if any of the outcomes result is not known the part of that parlay will be voided and odds set to 1.00.”

As for active bonuses, Coolbet advised all players to complete the wagering requirements by March 22 but also told them that in case they could not, their bonus funds will be fully unlocked from the wagering requirements on March 23.

By the end of April 3, the operator intends to shut down its website and mobile app and stop operating in the Canadian province. It also recommended its customers switch to the online casino brand and Coolbet friend, Wildz.

Earlier in the year, the legal entity managing internet gaming in the Canadian province of Ontario, iGaming Ontario (iGO), revealed in its third-quarter report that the Ontario market had achieved significant growth, nearly doubled the previous quarter’s total wagers and generated 71% more revenue. iGO also stated that the number of active operators increased by 50%.

Only months into operations, the company stated that its start in Ontario had been slower than anticipated and that its future outlook in the province had been softened due to the competitive nature of the market. Currently, there are more than 70 iGaming operators in Ontario competing for a market share and further heightening the promotional aspect of the market.

Coolbet decided to withdraw from Ontario, focusing on maximizing profitability while assessing new regulated market opportunities that may provide good returns.

In January, Coolbet went live in Mexico in an asset-light launch relying heavily on local partnerships and sponsorships to make the country its tenth Latin American gaming jurisdiction.

Twenty-seven rounds have passed in the 2022-23 Premier League and Arsenal are still sitting top of the table. What’s got to worry the Gunners is that the reigning champions are breathing by their necks with only five points fewer.

What this means is that if they want to win their first EPL title since 2004, they need to keep on winning. The game with Crystal Palace seems like a great opportunity for Mikel Arteta’s men to record another win. Are we going to see them do it?

Arsenal vs Crystal Palace Odds

*Odds taken from bet365 on Friday, March 17, 2023.

When, Where, and How to Watch?

• Place: Emirates Stadium in London, England
• Date: Sunday, March 19, 2023
• Time: 10 PM ET
• How to Watch: Telemundo

Arsenal Taking Things Super Seriously

The Gunners are sitting at the top of the table, showing no signs that they’re gonna drop out of there anytime soon. Their form in the English top flight has been nothing short of phenomenal with five wins in a row.

They did lose on the continent, though. Last Thursday, they suffered a 2-1 defeat at home to Portuguese side, Sporting CP. As a result, their European journey has finished for this season. However, this isn’t a disaster necessarily. It allows the Gunners to focus entirely on the Premier League. That said, you can be certain that they’re gonna go all-in on Sunday against their rivals from South London.

Crystal Place Hoping to End Their Horrible Run

The Eagles are without a single win in 2023 in all competitions. Plus, they lost each of their last three games. As a result, they’re out of the FA Cup, while in the Premier League, they’ve dropped dangerously close to the relegation zone.

Right now, they’re in the No. 12 place in the EPL standings, which may not seem too bad at first glance. However, they got only three points more than the closest team stuck in the relegation zone.

The main reason behind their abysmal run is that their offense has been very anemic. These guys haven’t scored a single goal in their last four. Plus, the last time we saw Crystal Palace put away more than one goal was on New Year’s Eve.

Arsenal vs Crystal Palace Prediction

This is a must-win game for the Gunners in their effort to win their first Premier League title in 19 years. Everything is going in their favor ahead of the Crystal Palace game, so anything but a big win on Sunday would be a huge upset.

Picks: Arsenal to win & over 2.5 goals

Legislators in the state of Iowa have introduced a new bill that seeks to regulate online casinos. Right now, online sports betting is legal but online casinos are yet to foray into the Hawkeye State.

This will cement Iowa as the seventh state that allows iGaming in the United States. While online sports betting continues to be proliferated, iGaming remains restricted to a handful of states. The markets where online casinos are legal currently include Connecticut, Delaware, Michigan, New Jersey, Pennsylvania and West Virginia.

Right now, Iowa’s land-based industry supports 17,420 jobs and has an estimated commercial impact of $2.8 billion. Online casino gaming is expected to bolster these numbers.

Operators Will Be Able to Launch 1-3 Brands in the State

The measure, nicknamed House Study Bill 227, would allow gambling companies to launch their products in the state through agreements with local entities. Companies that wish to offer their products in Iowa must pay $45,000 for a license. Once licensed, gambling firms also have to pay an annual renewal fee of $10,000 to keep offering advance deposit gambling games in the state.

If passed, the bill will allow operators to launch one or two of their brands in Iowa. Under certain circumstances, the Iowa Gaming Commission may authorize companies to launch a third brand, the bill reads.

Iowa Will Prioritize Player Safety

As defined by the bill, “advanced deposit gambling games” are a type of wagering on games where the player may deposit money into an account and leverage that account balance to participate in games of chance. These games, the House Study Bill 227 clarifies, are online games played by electronic means, such as tablets, smartphones and computers.

The bill would allow an eligible individual, defined as an individual 21 years of age or older who is located within this state, to placed an advanced deposit gambling games wager from any location within this state by telephone, a computer, through the internet, or by other electronic means.

House Study Bill 227 excerpt

In addition, the bill starts by pointing out that a process by which a person can exclude themselves from gambling will be established. Iowa’s self-exclusion scheme would see participants cut themselves off from gambling for five years. Subsequent self-exclusion requests following the expiry of the initial period would see players excluded for five more years.

In addition, the bill, if passed, would require licensees to provide their customers with the problem gambling information needed to make informed decisions. Furthermore, companies should have built-in tools that help players moderate their spending and playtime.

DraftKings’ substantial investments into the NFT space have drawn their share of controversy as prices plummet and user interest wanes. The operator also faces a class action lawsuit for allegedly marketing its NFTs as securities without proper registration. DraftKings continues to press on with NFT-based promotions and partnerships and will likely continue to do so as long as its marketplace remains active.

The Plaintiff Mistakenly Believed Profits Were Guaranteed

The leading US operator entered the NFT space in 2021, hoping to capitalize on the latest trend and bolster player engagement. DraftKings has since steadily developed its ecosystem, partnering with various leagues and expanding its offerings. However, the sharp drop in interest and plummeting NFT prices have dampened the operator’s ambitions in the sector and even led to potential legal issues.

A new class action lawsuit alleges that DraftKings sold its NFTs as unregistered securities, misguiding buyers about their investments’ long-term value. Illinois resident Justin Dufoe claims to have lost over $14,000 as his purchased NFTs drastically declined in value. The plaintiff allegedly expected surefire profits when trading his NFTs due to their marketing as securities.

Defendants had actual knowledge of facts indicating that the NFTs they promoted and sold were ‘securities’ under federal and state securities laws and… failed to register their NFTs as securities.

Justin Dufoe v. DraftKings, Inc.

Dufoe argued that the value of his purchases depended on DraftKings’ management efforts at the moment of the purchase and regarding their closed secondary market. The proposed lawsuit includes all investors who purchased DraftKings NFTs after 11 August 2021. Regardless of the court’s final verdict, such cases erode trust in NFTs, threatening to depreciate their value even more.

DraftKings’ NFT Marketplace Is Here to Stay

FTX’s dramatic implosion did not leave NFTs unscathed, sending their price nosediving. The waning hype regarding the technology and several high-profile scandals where hackers stole celebrity-owned NFTs did not improve the situation. Despite such negative pressures, the market appears to have reached an equilibrium, with the number of transactions steadily rising in the first months of 2023.

NFTs’ status as novelty items and a platform for speculation mean that the average user is unlikely to make any real profits. However, their accessibility helps onboard new crypto users and keep them engaged for as long as possible. The real winners are companies like DraftKings with established secondary markets, reaping the benefits of resale fees and commissions.

According to KX News, an amendment created by Sen. Larry Luick to remove universities, colleges, and high schools from House Concurrent Resolution 3002 failed by one vote of 24 to 23 earlier this week.

This means that the text of the resolution as it was originally presented will be subject to voting by the Senate. The purpose of the resolution is to place a constitutional measure that would give the green light to professional sports betting in North Dakota on the ballot in November 2024.

Changes in the Text of the Resolution

The amendment created by the Senate Judiciary on Wednesday would have changed the wording used by the legislative assembly from “shall” in regard to the authorization of sports betting to “may.”

The same amendment would have also added the phrase “to be conducted on professional sports” to the text. This would have helped guarantee that sports betting would not be allowed on the grounds of educational institutions.

Sen. Larry Luick, R-Dis. 25, Fairmount spoke about the “serious problems with mental health issues” recorded among athletes in universities, colleges, and high schools. He put the emphasis on matters like anxiety, depression, and mental exhaustion, describing them as “increasing intensively.”

The Senator also spoke about the way in which allowing gambling in schools would be a sure path to generating financial issues for students living on campuses where sports betting would be allowed.

Gambling on Certain Players Would Influence Players

Sen. Luick also took the opportunity to address the matter of players that might be influenced by social media to perform in a certain way on the field, depending on the bets placed on them.

Referencing prop bets which are side bets on sporting events that might negatively influence athletes in North Dakota, Sen. Luick gave the example of people harassing athletes and their families to generate a certain result for an upcoming match.

Sen. Scott Meyer, R-Dis. 18, Grand Forks spoke about the lack of a clear reference regarding high school or collegiate athletics in Resolution 3002, explaining how important it is to keep the constitution clean.

House Concurrent Resolution 3002 was sent for hearing to the House Judiciary Committee by Greg Stemen at the start of the year. In North Dakota, the Senate represents the upper house of the Legislative Assembly and it is smaller than the House of Representatives.

Ultimately, residents in North Dakota will have the final say on whether to allow sports betting outside of tribal casinos to become legal in their state or deny it.

Gambling software developer Playtech announced an extension of its exclusive partnership with Betfred. The two companies will continue their collaboration, which will see the former company supply the operator with more sports betting machines.

As agreed, more Playtech Self Service Betting Terminals will be installed in Betfred shops, helping Betfred keep up with the rising demand for sports betting. Over the past two years, the number of such machines employed by Betfred has swelled by a stellar 50%.

In addition, the expanded deal will make horse and dog racing markets available to Betfred customers for the first time. In addition to that, a variety of recent exciting features and products will be added to Betfred’s arsenal. These include Playtech’s new and improved Betbuilder, dynamic content display and premium content.

Playtech has cemented its reputation as a top provider of retail sports betting terminals. The company is famous for the quality of its products and its exclusive features. Betfred, on the other hand, is a top sports betting operator that will greatly benefit from the deal and expanded lineup of Playtech machines.

Playtech Is Happy about the Opportunity to Reach More Players

The expanded agreement was addressed by representatives of the two companies.

Betfred’s group chief operating officer, Mark Stebbings, said that the agreement highlights the importance of the relationship between the two companies. He lauded Playtech as a market leader in retail betting machines and said that Betfred’s deal with the supplier will only continue to grow in importance.

The importance of Betting terminals to our retail offer continues to increase, becoming an increasingly essential gaming component for our customers and, therefore, a crucial part of the future of our company.

Mark Stebbings. COO, Betfred

Shimon Akad, Playtech’s chief operating officer, also commented on the agreement. He said that Betfred is a major gambling business that continues to grow in strength and popularity. Akad is happy about the opportunity to supply Betfred with more machines, helping it meet the demands of its players.

Expanding the capacity of the Betfred offering through both more terminals and an ever-increasing range of betting events and exciting features has been a key pillar of our work together as we continue to develop new technologies aimed at digitizing the retail space and adapting to the changing Retail customer demands.

Shimon Akad, CEO, Playtech

Akad added that there is still room to improve and further develop this partnership. He concluded that the Playtech team continues to look for opportunities to proliferate the company’s products and machines.

A few days ago, Betfred secured an esports-oriented deal with PandaScore.