Around the globe in industry headlines

This week’s breaking news stories from around the world:

Europe

Remarkable rise in female betting during Spain-England women’s World Cup Final

In the aftermath of the 2023 Women’s World Cup that recently concluded in Australia and New Zealand, leading global gaming operator Entain has unveiled a remarkable surge in worldwide betting engagement. As the final showdown between England and Spain loomed, there was a notable upswing in both the overall betting participation and the number of bets placed by women.

British bookmakers saw a remarkable uptick in Women’s World Cup bets compared to previous years. William Hill, now owned by 888 (888.L), reported a staggering 900,000 bets on the event, showcasing substantial interest worldwide.

Entain, which oversees well-known brands like Ladbrokes and Coral, noted exponential growth in women’s betting on sports. Notably, one-fifth of bets during England’s first three games were placed by women.

A study by the German Sport University Cologne revealed that the women’s sports betting market, particularly in soccer, has seen rapid 20% annual growth since 2020. Soccer dominates in terms of betting engagement, with a doubling rate of women bettors in women’s soccer annually.

The prominence of women’s sports, exemplified by events like the Women’s World Cup and last year’s European Championship, is proving lucrative for bookmakers and the betting industry.

While specific World Cup bet figures were undisclosed by Entain, the surge in betting engagement echoes the trend observed during the previous year’s European Championship, where a remarkable 1.5 million online bets were placed.

Asia

PAGCOR aims to privatise all 45 casinos by 2025, expects minimum Php60 billion bid

The Philippines gaming regulator, PAGCOR, plans to privatise its 45 casinos by Q3 2025, seeking a minimum bid of Php60 billion (US$1.05 billion). CEO Alejandro Tengco updated the progress in a House hearing, correcting the Department of Finance’s overestimation of Php250 billion (US$4.40 billion), which included property costs.

The government’s objective has been to transition PAGCOR into a regulatory entity only. Tengco noted that in other nations, gaming agencies do not engage in casino operation, a practice considered unfavorable by investors due to potential conflicts of interest. Tengco emphasised that the provided estimate is the agency’s “baseline” and anticipates an increase during the bidding process.

Tengco projected that PAGCOR’s annual income could reach the P100-billion milestone by 2025. He disclosed that PAGCOR generated P36 billion in the first half of the current year, with an estimated net income of P72 billion by the end of 2023.

Tengco is determined to complete the privatisation by 3Q25 to address conflicts of interest. The idea was first proposed in September 2022, shortly after his tenure began.

Americas

CBF and FIFA partner to extend sports justice globally

The Brazilian Football Confederation (CBF) is aiming to extend the global reach of the Superior Court of Sports Justice (STDJ) by collaborating with FIFA. This follows charges against 15 Brazilian players for fraud under STDJ enforcement. The CBF intends to implement this rule across all 211 FIFA federations.

The proposed law would bar football players found guilty of betting or fraud from their registration and transfer systems. CBF President Ednaldo Rodrigues reaffirmed their strong anti-crime stance and commitment to involving FIFA in addressing these cases.

Sanctions for convicted players are being shared with foreign federations via FIFA’s Transfer Matching System (TMS) platform, adhering to FIFA regulations.

Upon a complaint from the Public Prosecutor’s Office of Goiás, the CBF promptly requested suspension of implicated athletes via the Superior Court of Sports Justice (STJD), which was approved. “The CBF ensures that all STJD decisions are communicated to FIFA without delay.”

Africa

Ghana’s new 10% betting and lottery tax

Last week saw Ghana introducing a new measure imposing a 10% tax on winnings from betting and lotteries. The Ghana Revenue Authority (GRA) clarified that this withholding tax will be automatically deducted upon pay-out for these activities.

Cancelled games with refunded stakes and pay-outs equal to or less than the initial stake will be exempt from the tax. To ensure effective oversight, lottery operators must update their software to display stake amounts, winnings, and withheld taxes.

Edward Gyambrah, GRA Commissioner, stated that this tax aims to boost domestic tax revenue, addressing Ghana’s relatively low tax-to-GDP ratio in the sub-region.

Despite the intent, the tax has garnered criticism from Ghana’s youth, arguing that betting and lottery winnings often support the unemployed.

Following economic challenges, Ghana’s participation in a three-year IMF bailout program underscores the need for tax expansion and domestic resource mobilisation to drive economic growth.

Australia

Controversy surrounds University of Sydney’s gambling research funding

The University of Sydney’s collaboration with an international gambling company has sparked controversy. The university’s expansion of its gambling treatment and research unit using funds from this company has drawn criticism.

The Australian Medical Association (AMA) has called on Sydney University to rethink its endorsement of the deal. The partnership involves creating the Centre of Excellence in Gambling Research (CoEGR), funded with A$600,000 ($385,000) from the US-based International Center for Responsible Gaming (ICRG).

Professor Sally Gainsbury, director of CoEGR and the Gambling Treatment & Research Clinic, emphasised the importance of the deal. Beyond funding, it offers access to “de-identified data” from gambling companies for comprehensive intervention evaluations.

However, concerns about industry influence have ignited debates. Critics question the credibility of industry-funded research and its potential impact on research integrity.

The controversy highlights the ongoing tension between academia and industry funding, echoing similar debates in other sectors like tobacco and alcohol.

The debate underscores the complex relationship between academia, industry funding, and public perception, prompting wider discussions on the ethics and credibility of research endeavors involving potentially biased financial support.

SiGMA Balkans/CIS

As a globally recognised nexus for networking, SiGMA Group sets its sights next to the Balkans this September, when the SIGMA Balkans/CIS Summit heads to Limassol Cyprus.

A host of networking opportunities and industry-leading knowledge will be emanating from the much-anticipated event which will pack panel discussions, keynote speeches, start-up pitches and much more into 3 days in the diverse Cypriot city.