Kazakhstan overhauls laws in bid to curb gambling addiction and boost regulation

The dates of the 4th - 8th of May marked the SiGMA Foundation’s memorable journey of the Camino de Santiago. Starting from Sarria, we covered around 25 km a day until we arrived at the Cathedral in Santiago de Compostela in high spirits.

Leading up to this journey, our 24 participants had been training together each weekend, all in unison of this special cause, to fundraise through various means for the women empowerment project, set to be inaugurated this coming October in Bonga, Ethiopia. 

Construction of the women empowerment project as of May, 2024

This project seeks to provide tailored educational programmes and skills development opportunities to women in Bonga, Ethiopia, providing a breeding ground for the development of this community's future.

Amidst the breathtaking landscapes and camaraderie, our diverse group who were once strangers, have now forged lasting friendships, sharing laughter, overcoming challenges and embracing this powerful feat together. 

Camino 6 group on the Camino Frances trail.

 “Buildup of this was great, the training in Malta, coming together as a group and walking all this way which was really fun and challenging, but most important of all is the fact that we are also here to help those less fortunate than us, and the SiGMA Foundation has allowed us to do this”, one expedition participant shared.

Camino 6 group on the Camino Frances trail.

Our journey was faced with all seasons of weather, from heavy rain to glorious sunshine, each element further contributing to the wonder of this world-renowned Camino Frances trail. Upon reaching the Cathedral, we cherished moments of celebration as well as reflection on the journey that has brought us here, recognising the collective achievements that we’ve made for those in need in Ethiopia. 

About the SiGMA Foundation

With the world in dire need of philanthropy, the SiGMA Foundation is leading the charge. As the philanthropic arm of the SiGMA Group, the Foundation is dedicated to supporting those who are most in need.

The SiGMA Foundation was founded in 2019 by Keith Marshall, Austin Cachia and Eman Pulis, Founder of SiGMA Group, with a mission to make philanthropy more participatory and engaging. Keith, who is known for his boundless energy, has dedicated his life to making a difference in the lives of thousands of people through various expeditions across the globe. With a fun and engaging approach to fundraising, the Foundation prioritises supporting underprivileged communities through active giving and aims to create meaningful impact in the world.

If you would like to get involved in any of the Foundation’s upcoming projects visit the for more information.

Interview with SiGMA Group Founder, Eman Pulis on the SiGMA Foundation

for bookmaker information, iGaming communities, and betting tips, has recently acquired AceOdds, a prominent UK sports betting media brand. The acquisition, valued at €42 million on a net cash/debt-free basis, is set to enhance Better Collective’s presence in the UK market.

AceOdds, established in 2008, began with a mission to provide UK sports enthusiasts with an easy-to-use betting calculator. Over the years, it has broadened its services to include a variety of betting tools, odds comparison, reviews, and streaming schedules, catering to its users through both web and app platforms.

Despite , this acquisition further solidifies its position in one of the world’s largest markets for sports and sports fans. Ian Bowden, Better Collective’s Senior Director for UK & Ireland, expressed his enthusiasm for the strategic acquisition, stating that it brings a robust owned and operated sports betting media brand to the UK market, poised for global scalability.

The acquisition aligns perfectly with Better Collective’s overarching strategy of acquiring leading sports media brands across various niches. The AceOdds brand fills a crucial gap by offering a vital sports betting affiliation brand in a pivotal growth market for the Better Collective group. The AceOdds app, benefiting from hundreds of thousands of installs, will further increase the reach Better Collective can provide its partners.

Better Collective sees this acquisition as a strategic step to leverage local expertise and scale the AceOdds brand globally. The acquisition will bring significant synergies for Better Collective. AceOdds comes with substantial recurring revenue, and its integration will enable Better Collective to expand its global network of sportsbooks, including those in the US.

The company plans to leverage AceOdds’ SEO capabilities and invest heavily in product enhancements to grow the brand’s audience further. Additionally, the AceOdds app will provide zero and first-party data for market segmentation and targeting through Better Collective’s AdTech platform, AdVantage.

The €42 million purchase price will be financed with €40 million in cash and the remainder in Better Collective shares, based on the firm’s volume-weighted average share price on Nasdaq Copenhagen. Over the past 12 months, AceOdds achieved operational earnings (EBIT) of approximately €10 million, with the purchase price implying a last 12-month EBITDA multiple of 4x.

Better Collective plans to reinvest part of this profitability into enhancing the product and user experience, which may moderately reduce short to mid-term profitability. Earlier this year, Better Collective raised €145 million to prepare for future acquisition opportunities.

Following the acquisition, Better Collective has updated its 2024 financial targets, now projecting revenue in the range of €395 million to €425 million, implying 21 percent to 30 percent year-on-year growth. The affiliate previously expected full-year 2024 revenue to reach between €390 and €420 million.

The company’s EBITDA, excluding special items, is now projected to fall within the range of €130 million to €140 million. This is an upward revision from the previous forecast of €125 million to €135 million, indicating a growth rate of 17 percent to 26 percent.

Better Collective A/S is committed to keeping its net debt to EBITDA ratio below 3x, demonstrating its strong financial management.

Currently, the shares of Better Collective A/S (BETCO-DKK.CO) are being traded at kr192.80, marking a 4.78 percent increase.

Jan Hagelberg, the Senior Vice President of International Business at Finland's Veikkaus, (photo above), has projected that the Finnish authorities will commence the issuance of gambling licenses by September 2026. Hagelberg expressed , “We understand the business, and there’s a lot happening: technological advancements, responsibilities, platforms, and new talent from companies like Kindred. We’ve even recruited individuals from PokerStars. We’re quite busy on all fronts.”

This prediction comes as Finland prepares to inaugurate its regulated market, with the government pledging to implement the new system no later than 2026. This represents a significant shift from the current monopoly model, where the state-owned Veikkaus holds exclusive rights to offer iGaming and sports betting. The existing system has largely been deemed unsuccessful in achieving its channelization objectives, with a substantial portion of revenue remaining in the unregulated segment.

Legal advisor Antti Koivula, a Finnish market expert at Legal Gaming Attorneys at Law, indicated that some form of Payment Service Provider (PSP) payments blocking would likely persist under the new regime. This system, introduced in 2023, has been criticized for its ineffectiveness.

Currently, no entities are listed on the Finnish National Police Board’s (NPB) BML Group, was the first to be blacklisted in February, following a decision by the Helsinki Administrative Court. However, the order was suspended by the Supreme Administrative Court pending the conclusion of the case.

Mansoori added, “Once the licence regime is implemented, the circumstances would be much more challenging for the operators – because then you cannot just change companies, you need to have a Finnish license at that time.”

Influencers and streamers may face stringent regulations however a balanced system would see the government concentrate on areas with a high prevalence of underage users, such as certain social media platforms. This approach would ensure the protection of vulnerable groups while allowing the industry to flourish in a regulated environment.

The Finnish gambling landscape is set for a significant transformation come 2026. As the country moves away from a state monopoly towards a regulated market, the industry is poised for exciting times ahead. The journey may be fraught with challenges and controversies, but the potential rewards promise a vibrant and thriving gaming sector.

The Philippines deported 165 Chinese nationals employed by a Philippine Offshore Gaming Operator (POGO) in Bamban, Tarlac. 

The Presidential Anti-Organized Crime Commission (PAOCC) confirmed the deportation of 165 out of 167 Chinese workers to Pudong District, Shanghai. Meanwhile, two individuals face pending cases in the , involving trafficking in persons and serious illegal detention charges. 

Upon reaching China, the deported individuals will undergo a 45-day detention period while charges are prepared. Additionally, they will be blacklisted by the Philippines' immigration bureau. 

Following a directive from Malacañang Palace, the Anti-Money Laundering Council froze Zun Yuan's assets, including its compound. The raid on March 14 uncovered 408 workers from various nationalities involved in the POGO operation. 

Authorities revealed that the deported Chinese nationals engaged in scamming activities and lacked proper travel documents, categorizing them as "undesirable aliens". Many were reportedly coerced into the operation, with their passports confiscated to prevent their departure.  

The Chinese Embassy the deportation, emphasizing joint efforts to combat fraud, kidnapping, and other crimes related to offshore gambling. This collaboration underscores both countries' commitment to curbing illegal activities in the region. 

The had been vocal in its commitment to maintaining pressure on illegal activities and protecting the public from the dangers of cross-border gambling and telecom fraud.  

The crackdown reflects broader challenges across Southeast Asia, where crime syndicates exploit workers, often under false pretences, to engage in fraudulent online activities. The UN Office on Drugs and Crime highlights the scale of this issue, with victims coerced into participating in elaborate scams, exacerbating financial losses regionally. 

This comprehensive action not only addresses immediate concerns but also signals a concerted effort to combat transnational crime and protect vulnerable individuals from exploitation in the region's burgeoning online gaming industry.