In the midst of Ukraine's ongoing conflict, a silent battle is being waged within the ranks of the armed forces. Junior Sergeant Pavlo Petrychenko of the Ukrainian army raised an alarm about a perilous vice that has taken hold among the soldiers: online gambling. This addiction has led to numerous soldiers squandering their salaries, plunging them and their families into financial distress.

The situation has escalated to such an extent that some soldiers have resorted to selling off military equipment, including drones and thermal imaging cameras, to fund their gambling habits. This not only compromises their personal safety but also jeopardizes the security of their fellow soldiers.

The relentless stress of war and the physical distance from their families and loved ones have left the soldiers emotionally drained. In their search for a coping mechanism, many have turned to online gambling. It provides a temporary escape from their harsh reality and a fleeting rush of dopamine, a neurotransmitter associated with feelings of pleasure and reward.

Petrychenko, recognizing the severity of the issue, petitioned President Zelensky to ban gambling among soldiers. His plea resonated with many, garnering 26,000 supporters in just a few days. This overwhelming response necessitated a formal reply from the president.

On April 20, Zelensky responded by signing a decree that prohibited military personnel from engaging in online gambling during wartime. The decree also imposed restrictions on advertising, initiated a nationwide campaign to educate the public about the dangers of gambling addiction, and mandated the blocking of all illegal gambling sites.

The health ministry was tasked with developing a strategy to treat severe gambling addiction. However, just five days before the decree was signed, Petrychenko, the soldier who had sounded the alarm, was tragically killed in action in the eastern Donetsk region.

His petition sparked a nationwide discussion about the psychological toll of war on Ukraine’s already stretched forces. Lawmaker Oleksiy Goncharenko claimed that nine out of ten frontline soldiers were grappling with he said was “destroying morale in the military.”

Ukraine’s Deputy Minister of Veterans’ Affairs, Oksana Syvak, echoed these concerns. She revealed that there were numerous complaints from parents and spouses about soldiers losing their hard-earned money to gambling. While there are no official statistics to quantify the problem, personal accounts suggest that the sums involved are substantial.

Ivan Zadontsev, a press officer for the Aidar battalion, shared a story about a soldier in his unit who won 2.5 million hryvnias ($63,000) through gambling, only to lose it all in the hope of winning even more. Another soldier won a staggering 60 million hryvnia ($1.5 million) jackpot and subsequently deserted.

Zadontsev suggested that the relatively high salaries of soldiers, which are six times the national average, might be a contributing factor to the gambling problem. Syvak, on the other hand, attributed it to the psychological impact of the ongoing conflict.

“During such hostilities, very often people use alcohol, drugs, smoke weed or… abuse gambling,” he said. “This is a consequence of war… gambling is a break from reality, a secondary reaction to a severe trauma.”

The rise in online gambling has also raised security concerns. Anton Kuchukhidze, chairman of the Ukrainian Gambling Council, estimated that there are 1,200 illegal gambling sites, 300 to 400 of which are Russian companies. However, he argued that there was no research to support the claims of widespread gambling addiction among Ukrainian soldiers.

As the war continues to ravage the Ukrainian economy, But with it comes a hidden crisis that is silently tearing at the fabric of the Ukrainian armed forces, a crisis that demands immediate attention and action.

Betfred has recently made a significant strategic shift. The company has fully absorbed its supplier, Sharp Gaming, marking a new chapter in its business operations. The founder of Sharp Gaming, Andrew Daniels, will now serve as Chief Information Officer, further strengthening the company’s technological prowess.

Sharp Gaming, launched in 2017 with over £100m funding from Betfred Chairman Fred Done, has been a key player in Betfred’s operations. The company has now transitioned completely in-house and rebranded as Betfred Technology. This move signifies Betfred’s commitment to leveraging technology to drive its business forward.

Betfred Technology will now power Betfred’s full-spectrum B2B system, including its Player Account Management (PAM), sportsbook, gaming aggregation, Remote Gaming Server (RGS), websites, and applications. This integration is expected to unlock new opportunities for Betfred, enhancing its ability to deliver superior services to its customers.

Andrew Daniels, the former CEO of Sharp Gaming, expressed his excitement about the transition on LinkedIn. He stated, “Completing the migration allows us to look ahead and begin Our new platform is key to unlocking new opportunities for us. As we embark on this new chapter for Betfred, we also bid farewell to the name Sharp Gaming.”

Daniels, who launched Sharp Gaming in 2020, will now take up a new role as Betfred’s Chief Information Officer. This follows Betfred’s acquisition of Sharp Gaming in 2021, after a £25m investment in 2020. The business had been supported by Betfred from its inception, receiving £25m from Done at launch.

Daniels thanked his team for their hard work, stating, “Thanks to my fantastic team, who have worked around the clock since December to ensure the success of the migration. Here’s to the next chapter of innovation, growth, and success at Betfred.”

Before founding Sharp Gaming, Daniels had a rich history in the gaming industry. He worked as Betfred’s Head of Mobile Development from 2011 to 2013, and as a Senior Developer at IGT following the supplier’s acquisition of mobile gaming business Million-2-1. He also founded Degree 53, an online gambling, mobile gaming, and website-focused creative agency, which was acquired by Bally’s Interactive in 2021.

This strategic shift by Betfred reflects the growing importance of cutting-edge technology in the betting industry. With its new in-house technology department, Betfred is well-positioned to innovate its offerings and continue its growth trajectory in the years to come.

Yesterday an emergency meeting was convened by the Budget and Finance Commission of Bulgaria. The meeting, attended by Members of Parliament (MPs), was held to discuss and approve the latest amendments to . These amendments, co-authored by Yordan Tsonev of the centrist DPS party (pictured above), and Temenuzhka Petkova of the populist GERB party, had recently passed their first reading and were now undergoing a second reading.

The next step in the legislative process is for the newly amended text to be presented to the National Assembly for a final vote. As of the latest update, the law has been unanimously approved by MPs and is set to be enacted on 3 May.

One of the most notable changes to the initial draft was the introduction of what has been termed the “10,000 rule”. This rule prohibits the establishment of gambling venues in areas with a population of up to 10,000 citizens. This is a significant increase from the initial draft, which had set the limit at 5,000 citizens.

Dimo Drenchev, a representative of the nationalist Vazrazhdane party, requested additional information from the Ministry of Finance regarding the potential impact of this restriction. Specifically, he sought details on the number of venue closures and job losses that could result from the implementation of this rule.

In response, Irena Hristova, Director of Tax Policy to the Ministry of Finance, revealed that there are currently 104 land-based gambling venues located in towns with fewer than 10,000 inhabitants. However, she was unable to provide an estimate of the number of job losses that could result from the new proposals, stating that this figure would be subject to further discussions with the Ministry of Labour and Social Politics.

The revised proposal also includes a clause defining the minimum distance of land-based from places frequented by vulnerable groups, particularly children. The proposed distance, which will be included in the final vote, is set at 300 metres away from community centres, public libraries, student accommodations, and children’s playgrounds.

The issue of gambling advertisements was also a key point of discussion during the meeting. Currently, licensed operators in the country voluntarily include warnings about gambling harm in their promotional messages. However, the revised proposal mandates that 10 percent of all advertising space be dedicated to such warnings.

In addition, Tsonev has proposed a blanket ban on gambling advertisements across radio, TV, print, and online publishing platforms. This proposal remains unchanged from the initial draft, indicating a strong commitment to promoting responsible gambling practices in Bulgaria.

There has been opposition to the proposed amendments to Bulgaria’s Gambling Act. The amendments, which were put forward by Kostadin Kostadinov of the Vazrazhdane party, were defeated with a vote of 67-29, despite having support from BSP for Bulgaria and the populist party “There Is Such a People”.

During the plenary session, a minority of populist representatives voted in favor of the proposed amendments, while the political majority chose to abstain. As a result, the amendments were rejected, and the proposed legislation did not move forward.

Voices of dissent from GERB-UDF warned against the potentially negative effects on municipal sporting institutions, arguing that such measures would merely scratch the surface of the root causes of addiction.

Dimo Drenchev, from the nationalist Vazrazhdane party, requested the Ministry of Finance to provide more information on the number of venue closures and job losses that the restriction would lead to. This suggests that there were concerns about the potential economic impact of the amendments.

While the proposed amendments were intended to curb the pervasive influence of gambling advertisements and protect vulnerable groups, they faced opposition due to concerns about their potential impact on the economy and the effectiveness of the measures in addressing the root causes of addiction. For more information, you may want to look into the matter further.

Netflix and Most Valuable Promotions (MVP) have joined forces to present a monumental heavyweight boxing extravaganza featuring Jake “El Gallo de Dorado” Paul (9-1, 6 KO), known as the Problem Child, facing off against the legendary Mike Tyson (50-6, 44 KOs), famously dubbed the Baddest Man on the Planet. This epic showdown between Jake Paul and Mike Tyson, who has not been in a sanctioned fight since 2005, will be broadcast live on Netflix on July 20, directly from the iconic AT&T Stadium located in Arlington, Texas, the renowned home of the NFL's Dallas Cowboys. The match has received the official sanction from the Texas Department of Licensing and Regulation (TDLR). This crucial decision ensures that the fight will maintain integrity through the oversight of independent judges and rigorous testing protocols for both competitors before they step into the ring.

Securing approval from the TDLR is highly significant for the fight, allowing bookmakers and sportsbooks to offer bets on the outcome through regulated U.S. sportsbooks. The involvement of a reputable regulatory body like TDLR eliminates concerns about the fight's legitimacy and ensures a fair and unbiased competition.

Nakisa Bidarian, co-founder of Most Valuable Promotions, expressed gratitude for the collaboration with TDLR to meet the necessary requirements for sanctioning the Paul vs. Tyson bout. The fight will adhere to strict guidelines, with the boxers committing to using 14-ounce gloves and competing in eight rounds, each lasting two minutes instead of the usual three minutes, ensuring a decisive outcome even without a knockout.

Despite concerns about Tyson's age—he will be 58 years old at the time of the fight—and his long hiatus from professionally sanctioned matches, the regulatory oversight provided by Texas authorities aims to instill confidence in the event's fairness and competitiveness. With the support of the TDLR, fans and can look forward to a regulated and thrilling showdown between two vastly different but compelling boxing personalities.

Next SiGMA Event: Join us in Manila from the 2 – 5 June for SiGMA Asia. Find all the details .

The Prosecutor General's Office in Ukraine, in collaboration with law enforcement agencies, has intensified efforts to combat illegal gambling activities on a significant scale. A total of more than 450 criminal offenses related to illegal gambling have been under investigation as of April 2024. This moves follows the decision by the Ukrainian Parliament’s to dissolve KRAIL, Ukraine’s gambling regulator and the signing of a decree aimed at counteracting the .

During these investigations, 21 individuals were notified of suspicion, with indictments sent to court against 72 people. Notably, seven indictments were issued against 68 members of criminal groups, marking a crucial step in prosecuting those involved in unlawful gambling practices.

In the previous year, 169 offenses were recorded with 74 individuals notified of suspicion. This led to 52 indictments against 97 people being sent to court. Law enforcement authorities conducted more than 500 searches, 700 address inspections, and seized over 7,000 units of computer equipment, emphasizing the depth of their crackdown on illegal gambling.

In over 2,500 websites that provided gambling services without the necessary licenses have been blocked. President Volodymyr Zelensky's endorsement of the National Security and Defense Council's decision to address the negative impacts of online gambling underscores the government's determination to tackle this issue effectively. With ongoing investigations into large companies involved in illegal online gambling, including cases of fund laundering worth over 110 million euros, the crackdown on illegal gambling continues to unfold.

Next SiGMA Event: Join us in Manila from the 2 - 5 June for SiGMA Asia. Find all the details .

Asia’s gaming pulse beats strong in Manila. This June SiGMA is gathering the best in business: from top government officials and seasoned c-levels to big name influencers – SiGMA Asia is leading the charge for change. Join us for an experience that promises to blow all other events out of the water.

’s National Police Agency (NPA) issued a stark warning last week, revealing that over one in three individuals apprehended in the recent crackdown on online gambling were teenagers. The alarming statistics underscore a troubling trend of rising in illegal gambling activities, sparking concerns over addiction and detrimental impacts. 

According to the Korea Times report, authorities apprehended a total of 2,925 individuals during the six-month crackdown targeting adolescent participation in online gambling, spanning from September 25 last year to March 31. Of these, a staggering 1,035, constituting 35.4 percent, were teenagers. 

Among the teenage offenders, 798 were high school students, 228 were middle school students, and seven were university students. Authorities also reported that even elementary school students were involved, with the youngest perpetrator being a 9-year-old who wagered 10,000 won. 

The crackdown resulted in the referral of 566 teenage offenders to specialized counselling centres with parental consent, aimed at addressing underlying issues and providing necessary support. Additionally, 75 adults faced imprisonment, and criminal proceeds totalling 61.9 billion won (€41.9 million) were confiscated. 

Police investigations shed light on the methods employed by online gambling sites to lure teenagers, including peer invitations, smartphone messages, online advertisements, and social media promotions. Baccarat emerged as the most favoured game among teenage gamblers, followed by sports betting, casino games, and Powerball or slot machines. 

The simplicity of registration processes, such as signing up with bank accounts or gift vouchers, facilitated teenage engagement in gambling activities. The report said that over 1,000 financial accounts under adolescents' names were identified for managing gambling funds and related transactions. 

Police highlighted the misconception of gambling as a harmless pastime among teens, exacerbated by cybergambling programs resembling simplistic gaming interfaces. Additionally, recent arrests revealed operators manipulating programs to expedite wins and losses, employing strategies like odd-even, ladder, and penalty kicks. 

With plans to resume the crackdown in May, the NPA remains resolute in its commitment to combating teenage involvement in online gambling. Woo Jong-soo, head of the National Office of Investigation, emphasized stringent enforcement against both gamblers and site operators to address the pressing issue of youth gambling. 

Upcoming SiGMA event: SiGMA Asia 2024, 2 – 5 June. Find all the details .

Boyd Gaming Corporation’s Q1 2024 report reveals a slight dip in overall revenue, with a 0.4 percent decrease from Q1 2023, amounting to $960.5 nillion. This decline is attributed to a 4.5 However, the company’s online segment showed a promising 19 percent growth, bringing in $146.2 nillion and partially offsetting the land-based losses.

The company cites severe weather conditions in the South and Midwest, coupled with heightened competition in the Las Vegas locals market, as contributing factors to the land-based revenue decline. EBITDAR (Earnings Before Interest, Taxes, Depreciation, Amortization, and Restructuring or Rent Costs) also saw a 10 percent year-on-year decrease, falling to $330.5 million in Q1 2024. Furthermore, net income experienced a significant 31.7 percent drop, settling at $136.4 million.

He credits the company’s disciplined operating and marketing strategies for maintaining strong operating margins. Smith also highlights the company’s robust cash flows and balance sheet, which enable ongoing capital returns to shareholders through share repurchases and quarterly dividend programs.

Boyd Gaming has established a significant presence in the US online gaming market through a strategic partnership with FanDuel, the leading US sportsbook by market share. The company holds a 5 percent equity stake in the platform and expects the online segment to generate $60-65 million in EBITDAR for the year.

Boyd’s Interactive business, a subsidiary offering both B2B and B2C iGaming services, strengthened its capabilities in 2022 following the $170 million acquisition of Pala Interactive from the Pala Band of Mission Indians.

Analysts at JMP Securities noted negative trends across several areas of the Las Vegas market in Q2, including a decline in downtown visitation and spending in the locals market. While they anticipate that tough comparables will ease in mid-2024, they also acknowledge that competitive pressure is impacting results.

Despite these challenges, the company remains committed to investment, with CFO Josh Hirsberg emphasizing a disciplined approach to M&A. Hirsberg also reaffirmed the company’s commitment to business investment as a prudent use of capital.

JMP highlighted that Boyd’s growth budget doubled to $200 million in 2024, which could potentially spur growth in 2025. This follows three consecutive years of EBITDAR declines. Despite these challenges, JMP reiterated its Market Perform rating for the stock following the Q1 2024 results.

As of the report, Boyd Gaming Corporation (BYD) is trading at $53.18, marking a 15.44 percent decrease.

 In his keynote at the BIS Americas 2024 Summit, Alexandre Tomic, founder of Alea, discussed the complexity and risks in game supplier integration and offered words of advice and strategies for success. With over two decades of experience in the field, Tomic shared valuable perspectives on the evolution of game aggregation and the challenges that operators face in today's landscape.

Tomic highlighted the transformative shift from the era of downloadable casinos to the current scenario where numerous software providers offer a vast array of games. He emphasized the significance of efficient integration strategies, shedding light on the risks associated with relying solely on external aggregators.

"To be honest, when I started in 2012 with Slots Million, we integrated two software providers. It was NetEnt and BetSoft. Okay, and then we came with other ones slowly. Would I have used an aggregator back in time? Definitely not. Why? They were eating latency..."

A key takeaway from Tomic's address was the critical role of Application Programming Interfaces (APIs) in ensuring secure and seamless operations. He stressed the necessity for operators to develop their APIs, asserting that this empowers them to maintain control over their platforms' functionality and security. By elucidating the importance of API governance akin to the banking industry's standards, Tomic underscored the paramount need for robust technological infrastructures in the realm of online gaming.

"If I'm here to give you some advice, is to tell you, as operators, develop your own API, give it to the software providers, and force them to integrate your API. That's the most important thing..."

Tomic's recommendations encompassed a dual approach, advising operators to cultivate their APIs for enhanced control and security, while urging software providers to prioritize API development to align with industry standards. By fostering a collaborative ecosystem where both parties uphold stringent API protocols, the industry can mitigate risks associated with potential vulnerabilities and ensure a more resilient operational framework.

Tomic's keynote speech at the BIS SiGMA Americas Summit not only provided a comprehensive overview of the challenges inherent in game supplier integration but also offered pragmatic solutions and forward-looking strategies for stakeholders in the online gaming sector to navigate this intricate landscape successfully.

Kambi, in Q1 2024, reported a revenue of €43.2 million, a slight 2 percent decrease compared to the same period in the previous year. The majority of this revenue, approximately 90 percent, was generated from sportsbook operations, with the remaining portion attributed to modularised odds feeds.

Despite the slight dip in revenue, Kambi’s EBITDA increased by 10 percent year-on-year, reaching €14 million. The operating profit for the quarter was €4.4 million, a 2 percent decrease from the previous year, with a margin of 10.2 percent. The earnings per share for the quarter were €0.107, and the board proposed no dividend payout.

Kambi’s operator turnover index, a measure of its clients’ quarterly turnover, decreased by 16.3 percent compared to Q1 2023. This was primarily due to the migration of Penn’s online business in July 2023. However, excluding Penn’s online contribution in Q1 2023, turnover increased by 3 percent across the global network and by 9 percent in the Americas. The operator trading margin in Q1 was 9 percent, driven by favourable basketball results, compared to 8.2 percent in the same period last year.

In Q1, Kambi extended its retail sportsbook partnership with Penn until 31 December 2025, replacing the previous agreement set to end in July 2024. Kambi also partnered with Inspired Entertainment, a provider of virtual sports products, to integrate the company’s offering into its sportsbook platform. This is in line with and deliver for partners through third-party services.

Kambi CEO Kristian Nylén, (pictured above) who announced his intention to step down once a successor is appointed, expressed satisfaction with the Q1 results. He highlighted the successful launch of LiveScore Group’s Kambi-powered sportsbook in Nigeria and the Netherlands. Looking ahead, Nylén anticipates further launches, particularly in the UK, in preparation for upcoming sporting events like Euro 2024 and Copa América.

Nylén mentioned that Kambi has made good progress in opening up its platform to provide greater flexibility and choice for partners. An initial step in this process was integrating external content into the Kambi platform to meet product requirements for certain partner signings in 2023. In Q1, Kambi added Inspired Entertainment’s virtual sports games to the platform, creating an additional revenue stream. More recently, the firm integrated racing provider BetMakers, enhancing Kambi’s horse and greyhound racing products.

As part of the ongoing modularisation strategy,n Tzeract’s first commercial agreement with operator kwiff. This will enable Kambi to provide modular odds feeds via a single API integration, granting operators access to Kambi’s full library of sports odds.

Although Nylén suggested Kambi had “built solid foundations for the future”, the company expects 2024 to be a “transitional year.” The supplier said revenue will be impacted by Penn’s online migration, recently renewed contracts with Kindred and several other partners. Kambi is also reviewing its 2027 financial targets due to a slowdown in sports betting regulation. Despite these challenges, Kambi remains optimistic about its future prospects.

Brazil is a beacon for global leadership said Stephen Crystal in a keynote during Bis SiGMA Americas.

A renowned figure in the gambling industry, Stephen shed light on the transformation of Brazil’s gambling market. From its unregulated beginnings, Brazil’s market is evolving into a structured, vibrant ecosystem, shaping new values, insights, and technologies in the global gambling industry.

Crystal explored the transformative journey of Brazil’s gambling industry, poised to become a global leader with a projected growth to $2.6 billion by 2026. The potential of Brazil’s vast player base, fuelled by a rich sports culture and the inclusive reach of sports broadcasting, is setting a new precedent for the global gambling industry under a regulated framework.

Brazil’s unique cultural fabric, rich with sports heritage, has set the stage for an unparalleled sports betting landscape. The historical use of free-to-play games and ‘bolões’ as part of the sports fan journey has laid the groundwork for a market ripe for regulated sports betting. This deep integration of sports betting into national culture suggests a model for engaging new markets, positioning Brazil to potentially lead globally in player numbers.

The enactment of Bill 3,626/2023 signifies a landmark shift, introducing a regulated framework that ensures player safety, market stability, and reinvestment into sports development. This clear legal framework is expected to attract both domestic and international investment, showcasing the importance of regulatory clarity for market maturity and investment in emerging markets globally. With a projected growth to $2.6 billion by 2026, Brazil’s market is set to become a global leader. The unprecedented scale of the potential player base, driven by Brazil’s deep-rooted sports culture and inclusive reach of sports broadcasting, provides valuable insight into the vast market potential awaiting under a regulated framework.

Brazilian bettors exhibit a strong preference for social and interactive gambling experiences, a trend reflective of the broader social dynamics of the country. The expected rise in demand for social features in betting platforms underscores the need for innovation around social engagement and community-building features, setting new trends for the global gambling industry. Crystal also delved into the significance of global sporting events, such as the FIFA World Cup, in amplifying the gambling market’s growth and visibility is also discussed. The article presents how Brazil’s engagement with these events serves as a strategic model for leveraging global phenomena to enhance market reach and engagement worldwide.

The current state of commoditized product offerings in Brazil presents a unique opportunity for differentiation. By understanding and catering to the highly social nature of Brazilian consumers, companies can unlock new value in market share and loyalty. This strategy for global markets emphasizes the importance of personalized and culturally resonant gambling experiences.

Compliance with Brazil’s regulatory requirements, including self-exclusion policies and facial recognition for age verification, illustrates the complex interplay between technology and regulation. Brazil’s approach serves as a model for implementing advanced technologies to ensure responsible gambling, enhancing user safety, and trust. Finally Crystal highlighted the profound lessons from Brazil's journey towards regulatory clarity and market maturity for the global gambling sector. Brazil's transformative impact of regulatory evolution, cultural integration and innovation in product offerings paves the way for the future of gambling across the globe, Crystal said.

Brazil’s engagement with global sporting events, such as the FIFA World Cup, amplifies the gambling market’s growth and visibility. This strategy for leveraging global events provides a roadmap for other markets to amplify their reach and engagement, highlighting the significant impact of sports events on market dynamics. As Brazil’s market continues to evolve, there’s a clear need for companies to adapt by offering innovative product differentiation beyond marketing and bonuses. The insights from Brazil’s market dynamics offer a strategic roadmap for entry into personalized, social entertainment-focused gambling experiences.