The premium provider of sports betting services to licensed business-to-customer gambling operators, Kambi, released its latest annual financial report, outlining the company’s performance in 2022, highlighting important achievements and outlining plans for the future. Released Thursday, the new report shows that Kambi’s revenue in 2022 hit €166.0 million ($181 million). This result, when compared to the €162.4 million ($177.1 million) in revenue reported for the corresponding period in 2022, marked an increase of 2%.

Despite the slight increase in revenue, Kambi surpassed its pre-pandemic performance. Back in 2019, the company reported total revenue of €92.3 million ($100.7 million) and in 2020, the revenue hit €117.7 million ($128.3 million). In other words, the €166.0 million ($181 million) result from 2022 reaffirms the ongoing growth of the company and the potential of its products.

The latest report reveals that EBIT reported by Kambi in 2022 was €34.8 million ($37.9 million). Last year, the company has seen €53.3 million ($58.1 million) in net cash and €0.861 ($0.94) earnings per share. A breakdown of the gross gaming revenue (GGR) reported per region revealed that Europe was responsible for 43%. On the other hand, the lion’s share of GGR was reported by the Americas region, while the rest of the world (RoW) segment contributed 3% only.

The Company Enjoyed Strategic Achievements and Growth

Besides the financial aspect, Kambi highlighted multiple accomplishments achieved during 2022. Last year, the company unveiled the launch of its first modular service called Bet Builder. The innovative solution launched during a period of continuous growth in the sports betting sector and quickly proved itself as “a key differentiator,” helping power the operations of sportsbooks.

Additionally, Kambi noted that ahead of the 2022 World Cup, it launched its pioneering 3rd Gen trading solution. This is an AI-driven trading solution delivering unique advantages for sportsbooks, as well as exciting experiences for sports fans.

“Kambi’s success in 2022 was testament to the growth of our current partners as well as the great appetite that continues to exist for the complete Kambi sportsbook.“

Kristian Nylen, CEO at Kambi

Kristian Nylen, Kambi’s CEO, explained that 2022 brought success for the company, reaffirmed the potential and the strong demand for its products. He explained that throughout last year, Kambi strengthened its products and at the same time forged nine new partnerships. Nylen acknowledged the positive impact of the World Cup and stressed that the scalability and flexibility of the company’s solutions continue to help it grow. Finally, the CEO pointed out that Kambi entered 2023 with the same positive momentum gained in 2022 and predicted achieving of long-term goals.

12BET, an international iGaming and sports betting operator, will integrate Betradar, Sportradar’s sports betting data division, into its offerings. This addition celebrates the 15th anniversary of the former company.

Betradar powers its clients with a rich selection of products, such as live odds, virtual sports, live streaming and statistics. Its integration into 12BET will allow the company to elevate the end-user experience, engaging fans with exciting tools.

12BET clients will now be able to benefit from Betradar’s comprehensive selection of services backed by real-time data.

The iGaming specialist will further celebrate its anniversary with promotional Indian Premier League offers. This will include a rich selection of cricket games with exciting prizes on the line. Players in India will have a shot at prizes such as a Mahindra XUV 700, a Royal Enfield Meteor 650 and Samsung products.

12BET Is Happy to Welcome Betradar as a Partner

A 12BET spokesperson commented on the new partnership with Betradar. They said that the operator is happy to welcome the famous sports betting brand as its new sportsbook provider.

According to the spokesperson, 12BET will continue providing the best possible experiences to its players, just like it always had strived to. These experiences will now be further bolstered by Betradar and its unparalleled sports betting expertise, the company representative said.

They concluded that 12Bet is looking forward to celebrating its 15th anniversary and providing fans of the IPL with the chance to win great prizes.

12BET is a prominent iGaming company that offers a huge selection of gaming products, such as online gambling, sports betting, lottery and keno. The company holds a PAGCOR license in the Philippines and remains a leading online gambling operator.

Sportradar Continues to Grow with Key Integrations

Sportradar, 12BET’s new partner, is a major sports data specialist. The company recently integrated its ad:s marketing technology into Snapchat, following an agreement with Snap Inc. Ad:s will allow operators to target adult Snapchat users with customized ads and tap into the social media’s hundreds of thousands of regular users.

In mid-March, Sportradar released its financial results for Q4 2022, highlighting its growth and full-year profits. The company’s CFO, Ulrich Harmuth said that the results attest to the company’s continued momentum, noting that Sportradar demonstrated operational leverage in its business model in spite of its significant investments.

A recent report by Sportradar demonstrated that the number of suspicious matches in professional sports has mounted up.

ParlayBay, a startup provider of online sports betting experiences, has penned a new content agreement with M88 Mansion, a leading Asian iGaming and sports betting platform. Under the new deal, ParlayBay will provide its new partner with sports betting content.

The agreement will greatly expand the supplier’s footprint in Asia, allowing its products to reach many local players. This includes its upcoming Stack‘Em title, an in-play and pre-match betbuilder that provides sports fans with a massive winning potential. Stack’Em’s confirmed release date is April 17, at which point M88 customers will get to experience ParlayBay’s innovative take on sports betting.

The provider will also power the operator with CS:GO esports betting content, allowing M88 to engage its players with markets for one of the most popular video games ever.

M88 Mansion is one of the biggest online gaming and sports betting sites in Asia. The operator will hugely benefit from the current agreement with ParlayBay, as it will secure a variety of new offerings. At the same time, ParlayBay will greatly expand its local presence, engaging more people in the region with its games.

ParlayBay seeks to disrupt sports betting as we know it and pioneer titles that offer an unparalleled player-centric experience. The provider seeks to offer fast gameplay paired with interesting mechanics, such as re-buy, cash-out and leaderboards. In addition to that, the company offers a selection of social tools.

ParlayBay Is Happy to Expand Its Reach in Asia

Patrick Nordawall, ParlayBay’s chief executive officer, said that his team is very happy to see its content go live with M88 Mansion. He added that the provider is making significant progress in Asia and is looking to expand its local audience.

ParlayBay is making significant moves across Asia and this partnership allows us to reach a wide and engaged audience of bettors across the continent.

Patrick Nordawall, CEO, ParlayBay

Joy Lao, M88 Mansion’s operational division head, also commented on the matter, saying that the operator is very glad to welcome ParlayBay as a partner.

We at M88 Mansion are extremely excited to partner with ParlayBay and for our customers to enjoy content like Stack ‘Em, where players can enjoy innovative live Bet Builder Games across multiple matches at once.

Joy Lao, operational division head, M88 Mansion

ParlayBay focuses primarily on micro-betting markets and offers products that appeal to many modern bettors. Its games leverage real-time data feeds to provide new and intuitive permutations of in-play betting opportunities. Its best-class AI/ML algorithms price up markets, ensuring accuracy for customers.

In other news, in late January, M88 further expanded its portfolio by adding live-streaming games from Livespins.

San Diego’s premier casino and resort destination, Sycuan Casino Resort, announced a new partnership with the San Diego Padres Pitcher Joe Musgrove. Details of the new collaboration emerged Wednesday and see the professional athlete become a brand endorser for the resort for the next two years.

Under the terms of the new endorsement deal, Musgrove will participate in different community events. Moreover, he will be featured in different marketing campaigns, social media content, as well as promotions of the Sycuan Casino Resort. Musgrove will also participate in different exclusive casino appearances over the next two years.

The endorsement deal further builds a positive momentum gained between Sycuan Casino Resort and Musgrove. Initially, the duo joined forces last year in May. Back then, Musgrove was designated as the resort’s first MLB ambassador. Now, thanks to the new deal, Sycuan Casino Resort further extends its presence into the sports vertical.

The Duo Is Excited to Continue to Collaborate

Sharing his excitement on the topic, Musgrove acknowledged that he had seen a successful year collaborating with Sycuan Casino Resort. Moreover, he pointed out that extending his collaboration with the casino resort brings him excitement. Musgrove added: “From meeting and interacting with guests to creating my own menu items like the one-of-a-kind Musgrove Dog, representing Sycuan has been an absolute blast.”

“After a successful first year, I couldn’t be more excited to continue my partnership with Sycuan Casino Resort.“

Joe Musgrove, brand endorser for Sycuan Casino Resort

He said that collaborating with the casino resort confirms its commitment to communities. Finally, the San Diego Padres Pitcher said that he is looking forward to the success and engaging experiences the new deal will bring.

“We are thrilled to announce the re-signing of MLB All-Star pitcher Joe Musgrove as our brand endorser for the next two years.“

Rob Cinelli, general manager at Sycuan Casino Resort

Rob Cinelli, Sycuan Casino Resort’s general manager, added that the company is excited to continue its collaboration with Musgrove for the next two years. Cinelli explained that the famous pitcher has ties to communities in San Diego, making him the perfect brand endorser. Finally, Cinelli said that Sycuan Casino Resort was happy with its collaboration with Musgrove and is looking forward to the bright future ahead.

Since its launch in 2012, the number of registrants has been on a steady increase, with over 40,000 Danes having signed up for the scheme.

Danish Gambling Authority Credits Awareness Campaigns for Increase in ROFUS Registrants

Anders Dorph, director of the Danish Gambling Authority, Spillemyndigheden, notes that the increasing number of registrants proves that ROFUS is a useful tool that makes sense. He emphasizes that ROFUS plays an important role in ensuring that players who need a break have access to one.

One reason for the rise in ROFUS registrants is the Danish Gambling Authority’s efforts to raise awareness of the scheme. Since 2016, the Authority has been running campaigns on TV and social media to let people know about ROFUS. Their efforts have paid off, with 45% of Danes surveyed in 2021 indicating that they knew about the tool.

In 2020, online providers were mandated to refer to ROFUS in their marketing efforts. This move has further raised awareness of the scheme.

The majority of ROFUS registrants have chosen to permanently exclude themselves from gambling. 66% of players who sign up choose this option, although players can opt out of the register after a year by contacting the Danish Gambling Authority. Additionally, most registrants are men, with men making up 76% of self-excluded players in February 2023.

Anders Dorph believes that it is essential to have tools like ROFUS to ensure that players who need a break can take one easily and effectively. In addition to ROFUS, the Danish Gambling Authority also runs the counseling line StopSpillet, which provides advice and guidance to players, relatives, and professionals dealing with compulsive gambling.

With ROFUS and StopSpillet, Denmark is leading the way in player protection measures, making it easier for players to take a break from gambling and access support when they need it.

ROFUS Got 10,000 More Registrants in Just One Year

Back in December 2022, the Danish Gambling Authority announced that it has improved its self-exclusion register, known as ROFUS, to provide better protection for vulnerable individuals. The updated system now has a user-friendly interface, which makes it easier for individuals to self-exclude all licensed gambling activities in the country. 

As of January 2022, over 30,000 people had registered with ROFUS, which goes to show that in just one year 10,000 more people have registered for the service. In the December update, the regulator also increased the period of exclusion from one to five years, allowing individuals more time to recover and seek help if needed.

The American Gaming Association (AGA) has sent a letter to the Kentucky Senate, urging the passage of regulated sports betting legislation in the state.

AGA Highlights the Need for Regulated Sports Betting to Combat Illegal Wagering in Kentucky

AGA’s research has found that an estimated $64 billion is wagered each year with illegal sportsbooks, meaning that these operators do not pay state taxes, do not have a legal obligation to pay winning bettors, and often do not promote responsible gaming. By contrast, the research recognized that legal sports betting provides consumer protection and transparency while generating tax revenue for the state.

The letter notes that six of the seven states that border Kentucky have already legalized sports betting, leaving citizens who wish to wager with two options: travel to a neighboring state or place bets with an illegal sportsbook. The AGA argues that the state must pass regulated sports betting legislation to eliminate this gap.

House Bill 551, which is currently under consideration, would allow licensed horse tracks and the Kentucky Derby to partner with up to three online sports betting skins, creating a maximum of 27 operators in the state. This would break up any monopoly on the Kentucky market and give consumers more options.

In its concluding remarks, the AGA letter respectfully implores the Senate to take action, urging them to consider and pass legislation that would enable the people of Kentucky to engage in sports betting through regulated and safe channels, rather than relying on illegal means.

Kentucky’s Blocked Online Sportsbook Attempts Highlight Need for Regulated Options

The letter comes after geolocation checks by GeoComply found 295,000 blocked attempts at accessing online sportsbooks in other states during the opening weekend of March Madness in Kentucky. This indicates a clear demand for sports betting within the state, which AGA argues must be met with safety and regulation.

If the Senate approves House Bill 551, it would bring Kentucky in line with other states that have already legalized sports betting, including Indiana, Illinois, Tennessee, and West Virginia. It would also provide consumers with regulated options and generate revenue for the state, which could be invested in vital initiatives.

The AGA’s letter highlights the need for the Senate to act swiftly and decisively to regulate sports betting in Kentucky, to protect consumers and provide a legal, transparent option for those who wish to engage in sports wagering.

One of the collaborations to fall through is that between PointsBet, a regulated sports betting operator, and the University of Colorado.

The alliance had to be stopped short in light of the American Gaming Association’s (AGA) update to its  Responsible Marketing Code for Sports Wagering which will now not allow colleges to team up with sportsbooks for the purposes of distributing sports gambling products.

The only case in which such partnerships may carry on is if they exclusively focus on safer and responsible gambling messages. Still, the partners are splitting into amicable terms:

PointsBet and the University of Colorado have decided it is mutually beneficial to end their partnership at this time.

Statement by PointsBet/University of Colorado

Both the University of Colorado and PointsBet were thankful for the opportunity to work together. This is ending a five-year partnership that was originally signed in 2020 and was supposed to last throughout the 2025-26 school year. The university was receiving a $30 referral fee for each customer PointsBet has been able to secure with the promotional code issued by the university.

The promo codes however were highly controversial and they were finally struck down in January 2023, leaving the relationship more or less in tethers. The announcement by AGA has made it even clearer that the partnership was not designed on the best of terms and without the opportunity to convert paying customers, there was little to actually offer back.

First to Enter Sports Betting Partnership, First to Exit It

The partnership though in itself was interesting from the start. The University of Colorado was the first Power 5, a college division, school to sign up a team up with a sports betting company in the fast-developing market. The University of Colorado is only one of five schools in the United States to have signed similar partnerships.

These are likely to wind down or be stopped short unless some brands choose to promote responsible gambling messages exclusives in exchange for having their logos and signage visible on school grounds.

The Massachusetts Gaming Commission (MGC) has reached a final solution this week after executive members decided that affiliates would not be able to enter into revenue-sharing agreements with regulated operators in the market.

No Revenue-Sharing Deal for Affiliates in Massachusetts

The reason behind this, executives explained, was that the scheme depended on consumers losing money and it undermined the safe and responsible gambling practices the Bay State was trying to encourage.

Essentially, a revenue-sharing agreement means that an affiliate who “converts” a consumer into a paying customer will get a percentage of said consumer’s losses in perpetuity. This, while the status quo in many states and jurisdictions, will not be the case in Massachusetts.

Rather, the commission will only allow affiliate partnerships that depend on the cost-per-acquisition model, a much less attractive scheme that is often considered the worst option for affiliates, but not so much for operators.

In a cost-per-acquisition affiliate partnership, the operators will pay a fee to the affiliate who has brought in a depositing consumer outright. This fee will be only paid once. Moving forward, all updates regarding the affiliate agreements in the Bay State have been updated to properly reflect this. 

Affiliates will simply not be entitled to a percentage of the revenue earned from customers that they have helped bring to the sportsbook. Sports betting is going strong in Massachusetts with DraftKings, FanDuel, BetMGM, Caesars Sportsbook, WynnBet, and Barstool Sportsbook all licensed and already catering to local bettors in the market.

The clarification in the affiliate schemes comes at a time when the United States is taking a much closer look at how gambling products are advertised, especially in states which have launched commercial online gambling.

Massachusetts Remains Vigilant Over Regulated Gambling Industry

Massachusetts is the 24^th such state. The American Gaming Association has just issued an update to its Responsible Advertising Code, seeking to better protect college-aged audiences and eliminate the use of “risk-free” promotional materials used by affiliates and sportsbooks.

The MGC has been busy in the meantime, sorting out regulatory action against some of the state’s operators, with b and WynnBet accused of accepting illegal college sports bets and agreeing to settle with the regulator earlier this year. The sportsbooks have admitted hope and have promised to remedy the situation and ensure that their internal systems are fine-tuned to avoid such illegal bets from taking place in future.

Manchester City FC, an English soccer club that competes in the Premier League, has unveiled a new regional partnership agreement with SportyBet, a sports betting operator that offers fast gaming experiences. Under the new deal, the gambling company will be designated as Manchester City’s official betting partner in Africa.

In addition, the two parties will work together on various collaborative activations. They will produce co-branded content and will create unique experiences for sports aficionados and Manchester City fans in Africa.

SportyBet is a sports betting brand owned by Sporty Group. The latter is a pan-African market leader that has a presence in several notable African markets. The company’s betting products are available in Nigeria, Ghana, Kenya, Zambia, Tanzania, and Uganda.

Many consider SportyBet to be the most innovative sportsbook in Africa because of its mobile-first approach and world-class products. The operator always prioritizes speed and performance to ensure its users are getting the sports betting experiences they want.

African Sports Fans Love the Team

Sporty Group’s brand director, Oluchi Enuha, commented on the new agreement. He said that his company is “absolutely delighted” to team up with the famous Premier League team, adding it to SportyBet’s list of partners.

Enuha praised Manchester City for always giving it their best when competing and being one of the most exciting soccer clubs in Europe. The brand director Manchester City’s “exciting brand of soccer” and the dynamic players it fields.

We believe this is just the beginning of a uniquely innovative collaboration which we believe will elevate both brands in Africa.

Oluchi Enuha, brand director, Sporty Group

Kaitlyn Beale, Manchester City’s vice president of global partnership sales, also commented on the matter, welcoming SportyBet as the new regional partner of the team. She noted that many African sports enthusiasts now follow the club and its matches, which is why Manchester City is excited to provide local fans with unique fan-oriented activations.

We are pleased to welcome SportyBet as a new regional partner of Manchester City today. Our fanbase within Africa continues to grow, shown by the interest in our fan events and trophy tour visits to Africa in recent years, and we look forward to working with SportyBet to bring fans even closer to the club.

Kaitlyn Beale, VP of global partnership sales, Manchester City

Manchester City’s new partnership is exciting news for the team. However, it comes as Britain is eyeing a ban on gambling sponsorships in the Premier League. While this measure is yet to become a reality, it is sure to shake up British soccer. Ahead of the publishing of the long-overdue white paper, the EPL teams proposed removing gambling sponsorships from the front of their shirts.

The gambling regulator in Nevada, the Nevada Gaming Control Board (NGCB), released its latest report outlining the performance of nonrestricted gambling licensees last month. The gambling watchdog revealed that the total gaming win in February this year hit $1.24 billion. This result, when compared to the corresponding period in 2022 marked an increase of 11.15%.

The latest report reaffirms the continuous growth of the gambling sector in the state. In fact, the $1.24 billion result marks the 24th month in a row with gaming win surpassing the billion-dollar mark in Nevada. This result also represents the longest period the state has seen revenues surpassing $1 billion without interruption month-over-month.

Looking at the bigger picture, the total gaming win for the fiscal year also marked an increase. For the fiscal year through February 2022, the total win halted at $9.6 billion. In contrast, this year, the fiscal year-to-date total gaming win hit $10.1 billion, representing an increase of 5.55%.

Not unexpectedly, the higher gaming revenue resulted in more proceeds from taxes during February. In February 2022, Nevada collected $58.9 million in taxes, while this year, the taxable revenue increased to $75.5 million. When the two numbers are compared, the result from last month marked an increase of 28.18% or some $16.6 million.

Clark County Revenue Soars

The NGCB provided a breakdown of the $1.24 billion in total gaming win reported in February, revealing that the lion’s share of the revenue was reported by Clark County, the home of the Las Vegas Strip. Overall, the gaming win for this area hit $1.08 billion last month, up by 13.84% when compared to the $949.9 million reported in February 2022.

Las Vegas Strip operators saw a total gaming win increase by 18.92% to $712.5 million, while North Las Vegas operators reported a gaming win of $24.9 million, representing a growth of 8.77%. Downtown Las Vegas operators’ gaming win hit $74.4 million in February, up by 7.49%, while Laughlin operators saw a 6.13% revenue increase to $45.7 million in February this year.

In contrast to the strong results from Clark County, the total gaming win in February dipped for operators in Washoe County. Last month, the operators within that region reported $76.8 million in total gaming win, representing a decrease of 8.08%. South Lake Tahoe operators also saw a dip in gaming win that decreased year-over-year by 3.89% to $18.9 million, while Elko County operators’ gaming win last month increased by 3.93% to $33 million.