Gambling Insider Nov/Dec 2025

LOOKING TO THE FUTURE

Gambling Insider analyses the biggest trends that could define gaming in 2026

TURNING POINTS? Will India, the Philippines and Brazil set a precedent?

Looking back at Novomatic’s 45-year journey in gambling CELEBRATION:

THE FUTURE... Gambling Insider + Gaming America =

EDITOR’S LETTER

Julian Perry, COO, Editor-in-Chief

TCOO, EDITOR IN CHIEF

Julian Perry

EDITOR

Tim Poole

Tim.Poole@gamblinginsider.com

SENIOR STAFF WRITER

Beth Turner

STAFF WRITERS

Will Underwood, Rory Calland

CONTENT WRITER

Megan Elswyth

LEAD DESIGNER

Claudia Astorino

DESIGNERS

Olesya Adamska, Callum Flett, Gabriela Baleva

Tim Poole, Editor

his time last year, I wrote about the opportunity that lay ahead for gaming in 2025. But how quickly things change.

Heading into the New Year, my last Editor's Letter of 2024 touched upon Brazil's upcoming regulation of online gaming, beckoning regulation of iGaming in Alberta, potential land-based legalisation in Thailand, sweepstakes and the UAE.

Now let's look back... Brazil regulated, but faces multiple teething problems, including a Federal Government with a weekly new idea about how to raise gambling taxes – even retroactively. Alberta is yet to actually launch, with eyes now turning instead to 2026. Thailand rejected casino regulation outright and sweepstakes are being all-but-outlawed across the US.

Of that list, only the UAE still holds as much excitement as it did in 2024 – and the first casino will only open there in 2027.

I say this not to depict negativity: the industry still has opportunity aplenty and always will. I do, however, want to emphasise adaptability.

In the US, sweepstakes may be on the way out – but prediction markets have taken the ecosystem by storm and, as we discuss in our cover feature, should play a huge part in defining 2026. Land-based operators, too, are placing greater focus on entertainment and, in some cases, attracting families to their resorts – something else we analyse in our cover feature.

Our overall aim in this November/December issue is to look ahead and predict what may transpire within the main gaming trends of 2026. Where will Brazil go, given the very evident pros and cons of its regulated online launch? How will the industry navigate increasing gambling restrictions (and will those continue) around the world?

The looking ahead doesn't stop there, as we analyse what could develop across India and the Philippines in 2026, while we also look at what might be a sea change in UK retail gambling, following the opening of Paddy's Sportsbook at the Hippodrome Casino.

JUNIOR DESIGNERS

Medina Mammadkhanova, Monika Petrova

ASSISTANT DESIGNER

Tanya Aleksova

ILLUSTRATOR

Judith Chan

MARKETING & EVENTS MANAGER

Mariya Savova

FINANCE & ADMINISTRATION ASSISTANT

Dhruvika Patel

PUBLISHING ASSISTANT

Abi Ockenden

IT MANAGER

Tom Powling

COMMERCIAL DIRECTOR

Deepak Malkani

Deepak.Malkani@gamblinginsider.com

Tel: +44 (0) 204 591 3117

ACCOUNT DIRECTOR

Michael Juqula

Michael.Juqula@gamblinginsider.com

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SENIOR ACCOUNT MANAGER

William Aderele

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ACCOUNT MANAGERS

Irina Litvinova

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and the Philippines in 2026, while we also look at what might be a sea change in UK retail gambling, following the opening of Paddy's Sportsbook at the Hippodrome Casino. at

Of course, at the end of any year, it is equally important to reflect.

We do this with our review of last month's SBC Lisbon show, now firmly cemented as a staple on the iGaming calendar, as well as reflecting on Novomatic's 45-year anniversary. It's a company history steeped in prestige.

Tel: +44 (0) 203 787 4615

BUSINESS DEVELOPMENT MANAGER - U.S. Miguel Malave

Miguel.Malave@playerspublishing.com

Tel: +1 702 850 8503

AWARDS SPONSORSHIP MANAGER

reflecting on Novomatic's 45-year anniversary. It's a company about this that outlets like

Michelle Pugh

Michelle.Pugh@globalgamingawards.com

Tel: +44 (0) 207 360 7590

If you will indulge me a little further, though, I'd like to return to my point about adaptability – for this is a concept that applies not just to operators and suppliers, but media outlets like ourselves too.

CREDIT MANAGER

Rachel Voit

WITH THANKS TO:

At Gambling Insider leading news and analysis that has always aimed to serve our and

Gambling Insider, for 15 years we have provided industryleading news and analysis that has always aimed to serve our audience as best it can. Yet, in today's landscape, the way news and analysis is consumed is evolving.

Brian O’Kee e, Chris Wood, Edward Carstairs, Novomatic, Daniel Brookes, Ivan Kravchuk, Ida Malagic, Oz Mustafa, Ramiro Atucha, Anton Eshtokin and Christina Hu.

we're evolving and, if you turn to page 12, you'll see exactly how...

In 2026, that's exactly what we'll be doing, too. We're adapting, we're evolving and, if you turn to page 12, you'll see exactly how...

TP, Editor

material is strictly copyrighted and all rights reserved. Reproduction without permission is forbidden. Every care is taken in compiling the contents of Gambling Insider but we assume no responsibility for the effects arising therefrom. The views expressed are not necessarily those of the publisher.

C ONTENTS

EDWARD CARSTAIRS

BROOKES

40 The future of futures

Gambling Insider weighs up the big questions facing the controversial vertical. Could predictions be the iPhone to online sports betting’s BlackBerry?

44 Pan-American projections

Gambling Insider analyses what could be in store for the Canadian, US & Brazilian markets in 2026

46 The fate of gambling ads

Will conversations, crackdowns and bans on advertising continue in 2026?

Gambling Insider investigates...

48 VAR: Help or hindrance?

With insights from Boyle Sports and Coral, Gambling Insider investigates the impact of VAR on sports betting

ONTENTS ONTENTS

52 Walking the tightrope

How do the markets in India, Brazil and the Philippines reflect wider industry trends?

58 The future of IP

Returning contributor Edward Carstairs looks at the biggest trends and challenges in IP, and what that may mean in 2026

60 A time to celebrate

How time flies! Gambling Insider looks back at 45 years of Novomatic

62 A compliant experience

Looking ahead to next year, we spoke with iGaming and compliance experts, as BetComply CEO Daniel Brookes and Evoplay CEO Ivan Kravchuk give their predictions for 2026

64 A night to remember

Paddy Power launched a land- based sportsbook at The Hippodrome Casino, with a difference. Gambling Insider reports from the green carpet

66 High street or high road?

Adult gaming centres (AGCs) have been under fire in recent months. Is this staple of the British high street at risk ? Gambling Insider investigates with a balanced approach...

70 Ida Malagic Greentube

71 Oz Mustafa WiseGaming

72 Ramiro Atucha Consultant

74 Anton Eshtokin Boomerang Partners

76 What's new? Gambling Insider delves into the latest products on offer

82 Christina Hu Momentum

Announcin g Global G am i n g I n s i d e r

The new name and brand identity of Gambling Insider and Gaming America

Gambling Insider, the leading voice of the gaming industry for 15 years, and its sister title Gaming America, are uniting under a bold new brand: Global Gaming Insider

This merger creates a single, global hub that delivers industry-defining news, analysis and thought leadership. At the core of Global Gaming Insider is a customisable digital platform where professionals can follow topics, companies and countries of interest across a complex industry and receive alerts and notifications for their areas of interest.

“The last 15 years have been amazing and we are incredibly proud of what we achieved with Gambling Insider,” said Founder, COO & Editor-in-Chief, Julian Perry.

have created with Global Gaming Insider is truly modern.

“We have an array of exciting features coming up which we will reveal in due course,” he added.

The Global Gaming Insider website will also bring together the industry’s most recognisable media products, including the Global Gaming Insider magazine, the Huddle video podcast, affiliate marketing content through Trafficology, and the muchanticipated relaunch of GGI Friday – our highly popular weekly news bulletin.

“However, it is the future we are interested in, and this new identity will enable us to become the information source for the global gaming industry.

“The way news is delivered is changing, and so is the way people consume news. What we

These will sit alongside the Global Gaming Awards – the most prestigious awards in the gaming industry, creating a unified media ecosystem for the next generation of industry professionals.

GlobalGamingInsider.com is now live. Many exciting new features and ways of delivering news, as well as our 2026 roadmap, will be revealed over the next few months.

A NEW BREED OF MAGAZINE LOOKING BACK

The future is here. Readers, meet Global Gaming Insider magazine.

At Gambling Insider and Gaming America, we were proud to produce industry-leading analysis for 15 years, and not least in our flagship magazines.

Now, though, we are bringing the two sister brands together, in one global destination for all your favourite content. Let us walk you through a little bit about how the magazine will work...

THE ESSENTIALS

Our balanced, analytical journalism will not stop. Nor will our CEO Specials, our cover features and our in-depth interviews.

All of the above will form the main body of our GGI magazines, along with show previews and reviews – and some new additions to spice things up for 2026.

We will also maintain focus on the Global Gaming Awards, the most prestigious Awards in gaming.

But, in the age of personalisation, we will be tailoring our publication accordingly. While we’ve been writing about localisation within gaming for years, our magazine itself will now apply this very concept.

GEOGRAPHICAL BREAKDOWN

Indeed, beyond our introductory main section and features, any content produced by contributors will be broken down by region.

We won’t give too many secrets away just yet but, if you’re interested in APAC data, or Americas product reviews, you’ll be able to find exactly what you’re looking for in dedicated sections.

As we’ve already outlined, covering the industry as Gambling Insider and Gaming America was a privilege and an honour. The evolution of our brand, we feel, moves the future forward, tailoring to the demands of how news and content is widely consumed today.

Yet, asked to look back, the memories of our legacy brands will stay forever. While there are too many editions to pick favourites, our 15-year anniversary special for Gambling Insider certainly stands out.

Names such as Peter Jackson, Amy Howe, Gustaf Hagman, Matt Davey, Stepháne Pallez, Per Widerström, Mark Frissora, Jim Murren, Bill Miller and more have graced our CEO Special covers of Gambling Insider magazine, guranateeing gravitas as they told their stories.

Our bespoke content will be separated into EMEA, APAC and Americas, defining the truly global nature of our publication.

In Gaming America, figures such as Jason Robins, Bill Hornbuckle, John Connelly, Adam Greenblatt, Terry Glebocki, Chairwoman Lynn Valbuena and more have demonstrated the prestige of the Americas.

Zoning in on themes from Tribal gaming to omnichannel, crash games to rebrands, our magazines detail the history of how gaming has grown. That’s not to mention our Focus magazines that have assessed payments, Malta, sports betting, Asia and more.

THE FUTURE IS HERE

But we’re not stopping there. Our plans, whether it’s web, video or this very magazine, have you – our readers and viewers – at heart.

Taking our analytical approach forward and maintaining our integrity, Global Gaming Insider aims to deliver everything you need from a gaming industry publication.

We’ll have the whole world in our hands, so to speak, and we can’t wait for you to join us on this journey.

FACING FACTS

“The past is not a good predictor of the future.” But the numbers certainly gives us clues... Here, we look at some facts and figures that demonstrate key recent trends, which we think will also indicate 2026 performance

Source: Brazilian Ministry of Finance

The rise of Brazil's iGaming market has been well-documented, as have the bumps in the road, the difficulties as everyone tried to barge through the open door at the same time. Regulation is playing catch-up, opposition voices are getting louder, but one thing is for certain, the appetite is there. So while the fates of individual operators may be unpredictable and it'll be a long time yet before the market calcifies into a settled hierachy, the rising revenues we see here are likely to grow and grow.

Source: University Of Nevada Las Vegas, Center for Gaming Research

2005 was the first year that non-gaming revenues surpassed gaming revenues across Nevada's casino resorts. The Covid-19 pandemic notwithstanding, this has remained consistently the case. Since 2022, however, there are signs that non-gaming revenue is pulling further away as regions like Reno, far from the Strip, lean into non-gaming attractions and developments.

Macau cumulative gross revenue ($bn)

Source: Gaming Inspection and Coordination Bureau, Macau

The resilience of Macau's gaming market to absorb the impact of the destructive Typhoon Ragasa in September and maintain its consistent year-on-year growth is remarkable in itself. Strong financial foundations and continued investment in gaming and non-gaming channels mean growth is likely to continue next year.

Prediction Markets vs Sports Betting ($bn)

Source: Yahoo Finance

The day after Kalshi introduced parlay cards, Flutter and DraftKings' market caps capitalisations took a combined $7bn hit. While the rise of prediction markets has been huge, it's worth putting into perspective where these new rivals are right now. Kalshi and Polymarket are privately traded, so their valuation can be best gauged by recent investments. For DraftKings we've used market capitalisation, while FanDuel is part of Flutter, so we've taken a valuation based on Flutter's acquisition of the remaining FanDuel shares in Summer 2025. This could look very different in a year's time...

UK 2024/25 tax receipts (£bn)

General Betting Duty

Remote Gaming Duty

Lottery Duty

Pool Betting Duty

Bingo Duty

US Tribal revenue split 2024 ($bn)

California region (representing 2 states)

Oregon region (representing 4 states)

DC region (representing 7 states)

Arizona region (representing 4 states)

South Dakota region (representing 4 states)

Oklahoma region (Tulsa) (representing 2 states)

Source: Gov.UK

Here's another chart that could look markedly different in a year's time. Rumours of tax hikes in the Chancellor's Autumn Budget have sent some of the betting industry into civil war, with British horseracing attempting to extricate itself from the rest of the industry. Remote gambling revenues are consistently rising year-on-year, and the proposed increase in Remote gaming Duty would see its piece of the pie expand. The other mooted hike is in machine games duty, and with many casinos taking advantage of the increased number of slot machines permitted by law, this too could reshape the receipt distribution massively.

Gaming Duty

Machine Games Duty

Source: Indian Gaming Association

Led by the late, great Ernie Stevens Junior, the Indian Gaming Association has presided over huge year-on-year revenue increases. From $11bn in 2000 when Stevens took over to $43.9bn in 2024, his tenure was a roaring success. This was the nationwide split of that full-year 2024 figure, and its clear to see why tribal lobbyists in California have been so vociferous in their fight against sweepstakes in the state. The success of those same lobbyists in the battle with prediction markets in California will have a major effect on revenues statewide and nationwide.

Oklahoma region (representing 2 states)

Minnesota region (representing 6 states)

TAKING STOCK

Gambling Insider tracks stock prices operators and suppliers who made headlines this year. Stock prices are taken across a six-month period (May 2025 – October 2025) – and from the close of the first available date of the month

OPERATORS

• Six-month high - August (299.62 USD)

• Six-month low - May (242.11 USD) • Market capital - US$49.55bn (as of 1 October 2025)

• Six-month high - September (38.91 USD)

• Six-month low - May (30.86 USD) • Market capital - US$9.673bn (as of 1 October 2025)

• Six-month high - August (1,004.89 GBp)

• Six-month low - May (652.93 GBp)

• Market capital - US$7.52bn (as of 1 October 2025)

• Six-month high - July (0.135 AUD)

• Six-month low - October (0.089 AUD)

• Market capital - US$168.72m (as of 1 October 2025)

SUPPLIERS

• Six-month high - September (70.38 AUD)

• Six-month low - June (62.03 AUD)

• Market capital - US$28.48bn (as of 1 October 2025)

• Six-month high - July (22,581 JPY)

• Six-month low - June (19,807 JPY)

Market capital - US$19.95 (as of 1 October 2025)

• Six-month high - August (863 SEK)

• Six-month low - June (647 SEK)

• Market capital - US$16.39bn (as of 1 October 2025)

• Six-month high - October (14.80 EUR)

• Six-month low - August (12.40 EUR) • Market capital - US$3.28bn (as of 1 October 2025)

PREVIEW: GLOBAL GAMING AWARDS EMEA 2026

The gaming industry’s most prestigious Awards ceremony returns to Barcelona to showcase the EMEA region’s very best

ICE’s move from the London ExCel Centre to Fira Barcelona Gran Via for its 2025 conference was nothing shy of a roaring success. More space meant more opportunities for operators, suppliers and affiliates to stretch their wings, all while providing a sunny, social experience that was likely a highlight for many a gaming industry calendar.

The Global Gaming Awards were no different. After following ICE to Barcelona last year, the Awards will make their return on 19 January 2026, at the end of the first day of the conference. Guests in attendance will gain access to networking opportunities as well as food and entertainment, though fear not, as guests unable to attend in person will still be able to watch events unfold via live stream.

SETTLING IN

With London being home to both the conference and the Awards for so long (the first Global Gaming Awards EMEA was held at the Hippodrome Casino in 2018), moving to a new home raised concerns. Would the new location, away from the gaming hub that is the UK, damage attendance numbers at ICE? Would the new floor layout be intuitive, or would the new orientation put a strain on already tight schedules?

Luckily, fears were quelled when attendees set foot into Fira Barcelona Gran Via. The venue, sporting an exhibition space of 240,000 sq feet, felt like a natural evolution to the ExCel Centre; a venue that, despite offering over 100,000 sq feet of event space and playing host to other notable conventions like MCM Comic Con, had simply grown too small.

While ICE 2025 did not utilise the entire 240,000 sq feet of space, the event was bigger and better than ever –something set to continue in 2026 with the opening of another exhibition hall for the event.

All this is to say, the backdrop for last year’s Global Gaming Awards could not have been better. And with uncertainties quelled, the 2026 edition is set to take the world-class Awards ceremony to new heights.

Of course, judging and adjudication of the Awards has remained much the same as in previous years, with a judging panel containing dozens of industry leaders set to cast their votes at the start of December. The process will be adjudicated by KPMG in the Crown Dependencies.

THE CATEGORIES

15 awards are up for grabs at the Global Gaming Awards EMEA 2026. Major accolades, such as Casino of the Year, Social Responsibility of the Year and Executive of the Year bring about much to celebrate for those receiving the titles, with Executive of the Year in particular shining the spotlight on one individual whose efforts during the year have especially stood out. Other awards up for grabs include Affiliate Program of the Year, Breakthrough Company of the Year, Online Slot of the Year and others. A full breakdown of categories is available on the Global Gaming Awards website.

Notable wins from last year’s awards include bet365 as Online Sports Betting Operator of the Year, The Hippodrome Casino as Casino of the Year, Light & Wonder - Squid Game: One Lucky Day as Online Slot of the Year and Betsson Group as Social Responsibility of the Year. The Executive of the Year prize was awarded to Uri Poliavich, Founder & CEO of Soft2Bet – the winner of three Awards, having also scooped Product Launch of the Year and Platform Provider of the Year.

He said: “This feels amazing. We have left here with three Awards this year now; it’s been a big year with a lot of hard work to be here, so it’s great to get the recognitionthank you so much!”

NEW CATEGORIES

After the Global Gaming Awards Americas 2025 introduced new categories to its line-up, it was only natural that EMEA 2026 would also introduce several new voting categories. Crash Game of the Year is a stand-out example. As we explored in the May/June 2024 edition of Gambling Insider magazine, crash games have, quite literally, crashed into the online gaming market, changing the way players engage with content and redefining what can be considered betting in the modern age. There is a a multitude of titles to choose from – with some, as this category will prove, standing above the rest –and these games are no longer just a niche. They perform, in many cases, better than traditional online slots. Some categories have also been realigned to

better reflect the state of the current gaming market. Retail Operator and Online Sports Betting Operator of the Year have been condensed into a combined Sports Betting Operator of the Year category, as online sports betting continues to dominate sports betting earnings, with few sportsbooks operating as solely land-based operations in today’s market.

LOOKING FORWARD

The EMEA 2026 Awards kick off another year of activity for the Global Gaming Awards. Following the January show will be the fifth edition of the Global Gaming Awards Asia-Pacific Awards, set to commence during the SiGMA Asia Summit, which has been penciled in for 1–3 June 2026. It will mark the second time the event has been held in person, with previous editions forced online due to the Covid-19 pandemic.

Following this will be the flagship Global Gaming Awards Americas. Occurring in tandem with G2E, the ceremony will take place in early October, with all the glitz and glamour one would expect from a show on the Las Vegas Strip.

All three of these shows, however, will be highly influenced not only by what is to come, but what has happened in the industry up to this point. How will online gaming in the Philippines change in the next six months, for example, and will that have an impact? What will the state of the predictions and sweepstakes market be in October 2026?

All questions too far in the future to predict, but worth keeping in mind as the Global Gaming Awards continues into 2026 and beyond.

REVIEW: SBC Lisbon 2025

Gambling Insider re ects on SBC’s second outing in the Portuguese capital, exploring panels, interviews and more from a show that welcomed a sizeable audience

In the wake of its second outing in the Portuguese capital, the evolutionary track of SBC’s flagship European show has culminated this year in what can only be described as a successful outing. Self-entitled as the ‘greatest show in gaming’ (this is SBC’s tagline, to point out) Lisbon certainly set high standards for itself ahead of its 2024 debut. Now, however, it is delivering a strong show.

Indeed, when putting together a show of this magnitude, smooth sailing is about as much as anyone could hope for. Reflecting on the conference’s first outing in Lisbon during 2024, there were a handful of teething problems – the

primary of which was a lack of air-conditioning matched with an intense humidity from the final whispers of a hot Portuguese summer. Nevertheless, the buzz remained palpable, the layout intuitive and the diversity of the industry on full display. In the wake of the show, the discourse swiftly became ‘how did it compare with ICE?’

Regardless of the fact that SBC had become conference veterans in the city of Barcelona, this is precisely the kind of impact any show organiser in the gaming industry could hope for. If you’re being compared to what has, historically, been the most prominent show on the European calendar from the get-go – you’re doing something right.

2025, however, is the year SBC Lisbon cemented its place alongside ICE as one of the two non-negotiable European industry events on the annual calendar. SBC Lisbon 2025 was attended by a record breaking 30,000+ delegates from a total of 150 countries – almost 6,000 of which were, according to SBC, C-Level executives. With 700 exhibitors and over 550 speakers, this year’s SBC saw 20% growth overall in comparison to the prior year’s event. Specifically, operator attendance was up 31% year-on-year, with affiliate attendance also rising by 38%. The growth in the conference’s affiliate section was, indeed, noticeable – as the

space tucked away at the back was vibrant and alive with over 3,500 delegates introducing their platforms to the big stage. Elsewhere, a highlight for many prior to the commencing of the conference was the Legends Charity Match, which took place at the legendary Benfica Stadium, Estádio da Luz. Featuring legendary ex-footballers include Luís Figo, Peter Schmeichel, Cafu, Petr Čech, Kaká, Michael Owen and many more – the match took place in front of a crowd of 60,000 and was organised in partnership with the Portuguese Football Federation to help raise funds for humanitarian efforts.

Elsewhere, SBC Lisbon played host to a stellar line-up of expert industry analysts, executives, regulators and everything in-between running panels, Q&As and roundtable discussions on key topics in the gambling sphere.

As we turn over into the final quarter of 2025, SBC Lisbon represents the perfect intersect for reflections and, of course, predictions for the hottest topics in gambling. Indeed, with each of the conference’s eight total stages dedicated to a specific subject –nothing is off the conversational table. During the show, emerging markets, burgeoning sectors, affiliate strategy, regulation, compliance, responsible gaming and everything in-between received coverage, with experts from every conceivable field putting forth analysis and predictions for the year ahead. What else to say aside from roll on Lisbon 2026!

Brazil: Little by little

The industry’s favourite new regulated market was dominating discourse once again at SBC Lisbon, with panels, press, interviews and more exploring burgeoning Brazil

Day one of this year’s SBC Lisbon show got underway with a panel moderated by Brazilian gaming law expert and Gambling Insider regular contributor, Neil Montgomery, exploring the current status of the world’s most exciting and widely discussed new market, three quarters on from its regulation in the new year.

Featuring BetMGM Brazil CEO Almir Silva; Pay4Fun CEO Leonardo Baptista; UX Group Board Advisor Roberto Regianini; and President of the Instituto Brasileiro de Jogo Responsável Andre Gelfi, the panel is led by the concept of the Brazilian market as a bubble that ‘just won’t burst.’

Nevertheless, regardless of the 80+ operators that have already been allowed entry into the Brazilian market – with almost 500 applicants still waiting on the other side of the door – the panel unanimously acknowledges that Brazil’s growth will inevitably slow down at some point. Like any market, many changes are anticipated across all four corners of the Brazilian landscape in the coming years as the region develops into maturity. A key recent implementation relating to payments is one of the first shifts noted by the panel, with operators in Brazil now requiring licensure from the Brazilian Central Bank in to open a payment institution. Further, any payment operators in the market must obtain said licensure

by March 2026 or face expulsion from the region. This update also follows legislation which now limits the maximum value for TED or PIX withdrawals for gambling to BRL 15,000 ($2,811).

These implementations have been incepted to help tackle Brazil’s sizeable black market, which currently accounts for around 50% of the nation’s overall gambling activity. Prior to attending this insightful panel, Gambling Insider also caught up with EstrelaBet’s Chief Business Officer (CBO), Felipe Fraga, who stated that the biggest challenge for Brazilian gambling is “undoubtedly” the black market.

Continuing, Fraga stated: “The illegal market is a situation that every country suffers with, but in Brazil especially. I believe we have the methods to block illegal market activity, considering that Pix is the payment method for 99% of gambling and through the Central Bank’s control, you can block payment gateways and – considering this point – if we use Pix as a way of tackling the black market, we will be able to reap the benefits of additional tax from the regulated space to help shield the legal market moving forward.”

This sentiment is, indeed, echoed by the

- Andre Gelfi “We have an offshore environment within a singular regulated marketplace ”

panel, with Gelfi stating: “Combatting the illegal market is what we are trying to do at the end of the day,” further underlining that the regulated market is already at a very impressive point as the third-largest marketplace in the world. Also highlighted by the panel is the fact that while the

Government is in a delicate position, it has received a lot of criticism for continuously changing regulations, and that more equilibrium is required to achieve a stable environment.

Another key friction point for Brazil is advertising, as BetMGM Brazil CEO, Almir Silva, expresses his protectiveness and support for the current restrictions, stating that they allow operators the potential to guide players towards the regulated market by helping them differentiate between legal and illegal. Further, the argues that with the current possibility of diverse advertising mediums – TV, radio, billboards and more – the balance of player guidance and operator exposure creates a winwin scenario, with Brazil’s market not yet being ready for tighter restrictions until the black market has been significantly reduced.

Building on this topic, UX Group Board Advisor Roberto Regianini provides the local operator’s perspective, highlighting that there is currently rapid market consolidation – ahead of what experts predicted – in Brazil. The methods available to operators to reach out to players is increasing rapidly – and he worries that any increased governmental involvement could create uncertainty that may steer overseas operators away from the market.

EstrelaBet CBO Fraga shares the same concern – specifically regarding the recent tax increase which, in his opinion, came “too early,” as he said: “We have been trying to explain that it is not good for the sector, for the local companies trying to survive, or for the overseas

operators who are still trying to establish their presence in the market. But for me, the biggest challenge faced by overseas operators will always be to understand the Brazilian mind, because the nation is unlike any other.”

Towards the conclusion of the fascinating Brazilian panel opening up SBC Lisbon on day one came perhaps the quote of the conference, with IBJR President Gelfi stating that Brazil is currently nurturing an “offshore environment within a singular regulated marketplace.”

This memorable and evocative quote alludes to the current battle between state and municipal licences versus the federal licence, which are currently both are available to operators. However, the landscape for those opting for the local licences over federal – specifically regarding the Rio de Janeiro licence, which previously allowed nationwide distribution for operators at a much lower licensing fee – remains a flashpoint of controversy in the market.

Gambling Insider also caught up with panel moderator Neil Montgomery following the presentation, who stated the following: “There is certainly a lot of controversy around this topic, especially with the municipal licences for the state licences, which have been authorised since 2020 by a Supreme Court decision. When you remember that Brazil has more than 5,500 municipalities, that is a lot of competition for the federal licence holders.

“The legal proceedings are still ongoing. I think the state regulator in Rio still has some

- Felipe Fraga

“The biggest challenge faced by overseas operators will always be to understand the Brazilian mind ”

hope that maybe something will change, as there has been a blockade on its proceedings since January, but we’re now also seeing an additional battle over the offering of VLTs within the city of Rio de Janeiro, which is causing friction between the city Mayor and state government. This means we have battles crossing over between the city of Rio, to the state of Rio and the Federal Government of Brazil – so conclusions could still be quite far down the road.”

Closing out what became the prevailing theme of day one at SBC Lisbon 2025, Montgomery also offered his thoughts on the proposed B2B licence currently being negotiated in Brazil, stating: “I think an element of the decision to introduce the B2B licence is as a way to try and clamp down on the black market. B2B providers will have to choose which side of the fence they want to be on. However, it has also been inspired by our neighbours in South America because many Latin American countries do require also licences for B2B providers, as is the case of Peru, for example. And this has seen a big wave of foreign investment in Brazil, which again is good for us lawyers because we have been very busy in setting up subsidiaries as, similar to the B2C operators that had to establish a physical presence, it is very likely that the B2B providers will also have to have a physical presence. I would say for those operators who don’t yet have a presence, they should be looking into doing that.”

Exiting this introductory panel to the sounds of chatter and the sights of a proudly held Brazilian flag spread across the beaming panel members in photography pose – the palpable excitement and intrigue around the Brazilian market remains as strong as ever – and the tone for the rest of the show had been set.

UAE: The land of gaming possibility

SBC Lisbon 2025 marched on with an insightful panel on day two into the UAE gambling market, featuring Kevin Mullally, CEO of GCGRA; Christina Hu, Chief Strategy Officer at Momentum; Lauralyn Sandoval, Vice President of Gaming Strategy and Business Development at Aristocrat; and David Patent, EVP at Wynn Al Marjan Island, moderated by Garret Greene, SBC SVP, Global Relationships.

As we know, the past 12 months have been the most influential in UAE gaming history. The first gaming vendor licence was awarded to Aristocrat in October 2024, followed by the launch of the first-ever state lottery, inception of a gambling regulator – GCGRA – and gradual awarding of additional gaming vendor licences – with there now being over a dozen licensees.

As Wynn Resorts’ integrated casino resort development on Al Marjan Island continues to progress at full speed towards its estimated 2027

Key market representatives from the fast-emerging UAE region provide a behind-the-scenes health check for one of the world’s most exciting new landscapes

opening, anticipation builds for this small-scale yet incredibly promising landscape. Momentum CSO Sandoval began the panel by commending the work of Mullally and the wider GCGRA to create a transparently regulated landscape thus far in the UAE.

Mullally gracefully accepted the praise, underlining that his philosophy of regulation is dictated by something of a doctor’s analogy –with a market acting as a patient that requires frequent check-ins. Indeed, he highlights that key sectors of a given market act as the vital organs of the landscape, with healthy lifestyle changes coming in the form of regulatory tweaks to further help ensure a thriving ecosystem.

As the first supplier to obtain a gaming supplier licence for the UAE market, Sandoval builds on this analogy from the Aristocrat perspective, highlighting that partnerships – in this case specifically its partnership with

Wynn – are much the same and require a similar approach with a collaborative twist. In addition, Sandoval says one of Aristocrat’s key priorities for the UAE is to introduce innovations that have come from outside the market, integrating them into the landscape to help the region thrive and progress alongside the wider global gaming industry. This approach is approved by Mullally, who formerly invites all suppliers now legally regulated in the UAE to bring new innovations to the GCGRA at any every available opportunity.

Hu offered a unique perspective to the panel as the only long-term citizen of the UAE. Having lived in the nation for a decade, she states that one of the key aspects she has noted about the region in that time is its thirst for innovation. She recounts that every regulator she has worked closely with in the UAE – both in and outside of gaming – has been built on a foundation of fostering innovation and creativity at every turn.

As is the case across the global industry, the issue of the black market is one that cannot be ignored. Naturally, Mullally underscores that tackling the UAE’s unregulated landscape is one of the GCGRA’s key priorities. With over 6,000 websites shut down quickly after the GCGRA’s inception, Mullally states that the regulator’s work in this area has only just begun.

There has been a flurry of market activity in the latter stages of 2024, including announcements of the progression of Wynn’s Al Marjan Island development, Aristocrat’s licensure, the inception of the GCGRA and the formation of the nation’s first-ever state lottery all coming within a matter of months. Since that time, news from the region has settled down. There are now over a dozen suppliers licensed as gaming vendors in the UAE, with Wynn Resorts also having recently confirmed it remains on track to deliver a 2027 opening for its Al Marjan integrated casino resort development.

Nevertheless, in lieu of major updates, this panel on day two of SBC Lisbon confirms the enormous amount of work still taking place in one of the world’s most exciting marketplaces.

New horizons in Finland

Ahead of Finland’s market de-monopolisation, Kirsi Lagus and Jonas Reuter, of Veikkaus subsidiary Fennica Gaming, held a press conference at SBC Lisbon to discuss compliance, expansion and long-term strategy

Parallel to the hustle and bustle of the Feira Internacional de Lisboa conference center as SBC Lisbon 2025 is in full swing on the floors below, the press room holds an air of Finnish tranquility. Here, Jonas Reuter, Veikkaus EVP International Business and Chairman of the Fennica Gaming Board sits beside Kirsi Lagus, Fennica’s SVP of Portfolio and Product Development, to provide the supplier’s view ahead of significant structural changes to the Finnish market.

group of people working with us. We also have good network cooperation partners around the world in this industry, and we have made recent distribution agreements with the likes of Aristocrat and IGT, to name just a few.

Can you give us a general overview of Fennica’s market position in 2025 –especially ahead of the imminent de-monopolisation in Finland?

At present, we have a studio of around 50 people, and we also work with more than 10 external studios who have been building games on our platforms and working in tight connection with us for years. We are really proud of this

We’re also very much preparing ourselves for the changes in the Finnish market, where we have had external companies operating over the course of many years but will now of course be regulated through the licence procedure – which is very good for us. The introduction of this new level playing field in Finland means that we feel it’s the right time to also bring our portfolio out for operators outside of the market. We’re very excited about the international plans for our group and we have a very long-term strategy in place to

Looking at the UAE, how has Fennica been developing products for this new market, which has no comparable neighbouring or similar markets from which you can draw on experience?

What can you tell us about your operations outside of the Finnish market and any expansion on

I think that’s what we’ve been doing as an operator in Finland. We’ve been building the playerbase. We’ve been building and developing the market basically from the beginning, with no external ‘inspiration’ so to speak. In our experience on this side, we have found that you need to try out lots of different kinds of mechanics to see which will resonate with a given audience the most effectively. You usually start with more simple ones because there is no player base, so you can assume that the players are not familiar with the most complicated mechanics. Then, gradually, you can start adding different kinds of mechanics to get feedback on how things are rolling and continue to build from there.

I’m very happy and proud to say that we an ecosystem in Finland of casual gaming. be always felt Canada is very market, which is very good for us.

I’m very happy and proud to say that we have now launched our games in the Czech market, alongside the Netherlands, and we will be soon launching in Quebec. Elsewhere, we are licensed in the UAE, Ontario, Sweden and Greece. These are studios coming from an ecosystem in Finland of casual gaming. However, we want to go for more active entertainment. For that reason, I think Canada will be a focus for us. Of course we’re starting with Quebec; however, we are also licensed in Ontario, which is a very interesting region. We still have games live in the US on the side but we have always felt Canada is very similar to the European market, which is very

- Kirsi Lagus

“These are studios coming from an ecosystem in Finland of casual gaming. However, we want to go for more active entertainment”

Regulation and responsibility

Hosting a fascinating panel on utilising responsible gaming as a USP, Peter Marcus is joined by top industry figures, Dr. Alexandra Körner, Marcel Prioteasa, Eduards Jakubovs, Thodoris Tasellari and Lisa Corti.

Thematically, it is unanimously agreed upon by the panel that the key to ensuring safer gaming is education and, more specifically, the need for early education, such as sign-up emails for safety tools and related early contact initiatives to help provide players with the tools necessary to prevent problems further down the line. It is even suggested that all operators, land-based or online, should ideally take the approach of getting in touch with players almost immediately, teaching them how to utilise safety tools as soon as they enter a given casino or online platform.

Interestingly, this player-centric approach ties in nicely with repeated rhetoric pertaining to global regulation, with many delegates from across the globe repeating the same sentiment during the show – regulators should draw more focus on player’s behaviour.

Approaching the conclusion of one of 2025’s signature shows on the industry calendar, the unifying topics of responsible practices and regulatory compliance came to the fore

This idea is certainly a trend that is picking up traction in the European space, with many regulators now tweaking their respective approaches to centre around serving the needs of players first – with calls from operators in regions such as Brazil for their own federal regulators to follow suit.

Catching up with Peter Wilson, Director of PWL Legal, following his panel on the regulatory paradox of stricter regulations sparking black market proliferation, the tightrope walk of shifting regulatory trends becomes increasingly

apparent: “If you’re initiating something such as financial vulnerability checks, according to an outfit like the Gambling Commission in the UK, the priority should be to make sure they are as frictionless as possible. If the player has additional obstacles in their way, they must deal with more information requirements or more burdens placed on them in their leisure pursuit; they’re going to go elsewhere. Not all players, but some will.”

Wilson clarifies that patience is still required on the operator’s side. While regulation is now more persistent than ever, it remains in everyone’s best interest to create a healthy and thriving ecosystem: “I think it is pretty clear that less regulation is not going to lead to a smaller black market. And we can only go forward; we can’t really go back. The gambling sector has changed considerably. Twenty years ago, the gray and black market was everywhere.

“Now, there are more operators, particularly larger operators, that have invested considerably in compliance. They’re having to spend money on obtaining multiple licences and comply with multiple requirements under those licences, which means they are, themselves, invested in seeing that black market reduced. One of the several conclusions we came to as part of my panel is just the start of a much bigger ongoing conversation.”

Bridging the gap beautifully between the RG and regulatory perspective, Wilson’s comments highlight the fact that his panel on the regulatory paradox inadvertently reached exactly the same conclusion as the ‘RG as a USP’ presentation.

That conclusion? Education is everything: “I think the operators on my panel all agreed that, for the most part, players don’t really understand how to clearly differentiate between the licensed market and the black market. Even if they do, they don’t necessarily appreciate the differences or risks that they’re taking – or they just don’t care. But it’s up to us as an industry to change that. I think one of the key strands of thought that came out of our discussions as part of my panel – unanimously agreed upon – was that we need better, and earlier, player education.”

LOOKING TO THE FUTURE

Gambling Insider analyses the biggest trends that could de ne gaming in 2026, including:

Movements across the Americas

How land-based gambling will develop

Predicting prediction markets

Advertising & marketing: A global issue

A LAND-BASED EVOLUTION?

Megan Elswyth assesses what we can expect from the land-based gambling industry in 2026, as casino resorts look to more family-oriented and entertainment experiences

Gambling is one of humanity’s oldest forms of entertainment. Land-based gambling, that is. Despite around 5,000 years passing since the first set of dice was ever made, it has managed to stay relevant and modern for each generation of players. Yet this is only half the fight. You need to get people through the door before you can impress them with your products, and this has been a key concern over the past few years. The pandemic was certainly a factor in driving customers away, but it can no longer be used as an excuse for falling numbers. Casinos, highstreet slots and resorts around the world are looking to diversify their playerbase, and one demographic has always been a little left out... families.

ASIA’S FAMILY-ORIENTED CASINOS

The seeds are already there. Look at Inspire in Incheon, South Korea. The resort is marketed as a family-friendly holiday destination, with the mall, Le Space Media Art Exhibition and Inspire Arena all highlighted on the website’s landing page with pictures of families enjoying the facilites. If you’re still in doubt, there is even a section directely saying, “Bring your kids to Splash

Bay’s Kids Play Zone for a time to remember!” alongside a picture of children having fun. MGM Macau is a similar story, with children’s dance classes and Disney’s Frozen in concert both featured on the homepage. Regulations and feelings towards gambling have changed in Asia this year. While MGM Osaka’s JPY1.27tr (US$8.9bn) casino project broke ground in April, Japanese authorities launched a major crackdown on online gambling. India, too, banned all forms of real-money gaming, while Sri Lanka opened a new City of Dreams resort. It seems that Asia is looking to ban as much online gaming as it can, with land-based regulation pulling the opposite way. Most of the discourse around banning casinos and gambling will be nothing new to anyone in this industry. It is, unfortunately, the usual: “Gambling is the bane of society and will ruin us all!”

Operators in Asia have realised they needed to repurpose. As the sentiment shifted to gambling being perceived as evil, many companies in Asia played this off as “illegal gambling is bad, but we’re regulated, which means we’re safe”. If the companies were going to be seen as truly safe and legitimate,

they needed to prove it by being safe enough to market towards the whole family.

While we’re not saying VIP-heavy institutions are going to invite schools of children to run around the lobbies, we can certainly expect many of the other resorts on the continent to lean towards this idea. With Macau and Hong Kong at the very bottom of the worldwide birth rate tables – with South Korea and Japan not far behind – it would make sense to turn these previously singlebusinessman-oriented areas into familyfriendly ones as authorities push to change attitudes on this topic.

UK AGCS BREAKING THE

STIGMA

Being such a small island, Great Britain does not struggle with a black market land-based sector as much as other countries – it simply does not have the room for it. However, the black-market boogeyman is not an idea so easily dispelled, and so the public has come to grow sceptical of the next ‘shadiest’ thing: Adult Gaming Centres (AGCs). These high-street slots are often described in the news as ‘unwanted sites’ and ‘linked to rising crime.’

If you’ve been keeping a close eye on

these establishments, though, you may have noticed an interesting development. Rather than being the dark, dingy slot halls we know from the early 2000s, these new spots are now bright, welcoming and getting involved with the community. Some of the initiatives I’ve personally noticed are AGCs inviting people inside to treat it more like a café than a casino; very reasonable prices on non-alcoholic drinks, free bingo nights and more. In my local AGC, you can even spin a Wheel of Fortune to get a voucher to use at another local independent business on that street, including barbers, tattooists and flower shops. Who knew we’d see AGCs leading a high-street cross-business loyalty scheme?

These places knew they needed some PR work, and so many of these family-run operators have taken it into their own hands to work with their local communities and integrate themselves as just another ‘normal’ shop on the street, rather than something to be shunned. If they manage to keep the momentum up, they could have a decent shot at stealing some of the casual player market share from land-based casinos. With the cost of living still skyrocketing, having a regular-led venue that offers cheap drinks and affordable

nights out might seem more appealing to many – especially older people who look for that sense of community. Sure, they’re not going to steal the rambunctious stag-dos from the fancy retail casinos, but they could become the destination for quiet.

This all depends on whether AGCs can continue to break the stigma surrounding themselves. It’s going to be an uphill battle, and it might not happen overnight, but the momentum is already building around them –they just have to keep it up!

VIVA LAS VEGAS

Will these changes be universal, though? Absolutely not. Although I do think a significant amount of land-based properties will begin equating regulation with family-friendly vibes as part of a cultural rebranding, not every property will feel the need to. As previously discussed, some places will have a solid enough playerbase that they will be able to retain the sense of exclusivity associated with VIP players and high rollers. Catering to everyone was never the aim for some of these casinos, nor will it ever be.

This leaves Las Vegas in a curious position, however. The Strip is unanimously seen as a playground for adults, with no room left on the

swings for anyone under the age of 21. With tourists numbers tumbling and the global cost of living rising, what market will Las Vegas cater towards in the future? Is there still room for adults to holiday by themselves to Vegas and take the kids away within the same year, or will these trips blend into one at a location that caters to everyone? Even for those already situated in the US, young people no longer need to travel down to Las Vegas to experience casinos – the rise of iGaming has brought the magic of the industry into their homes through their phones.

For operators opening up new resorts, it is incredibly easy to set a path towards an underserved demographic. You just include that demographic in your marketing and that is how people will absorb and process your brand. For AGCs in the UK, all they need to do is keep opening their doors to the wider community and keep proving that they’re nothing to worry about, and attitudes will change. As for Vegas, The Strip already carries such strong connotations that it would be almost impossible for the jurisdiction to pivot in any other direction at this point. The biggest question is: can it thrive on its current trajectory?

THE FUTURE OF FUTURES

Trading on the future of the prediction market sector itself, Gambling Insider weighs up the big questions facing the controversial vertical. Could predictions be the iPhone to online sports betting’s BlackBerry?

In a way, prediction markets are a simple consumer model. Yes or no. Their true nature, however – and what they represent – often seems almost intentionally confused. With some provocative exceptions, the language and aesthetic used by US operators leans into the trappings of Wall Street and away from gambling – Robinhood’s ‘prediction hub’ is found on its ‘investing’ screen, and all the talk of liquidity and market volatility is a far cry from the bright accessible marketing of traditional sports betting operators. Between that and the dense legal wrangling – in August, Robinhood added American Football to its predictions and immediately, pre-emptively, sued New Jersey – it can be hard to see the wood for the trees.

Seeing what 2026 holds for predictions is equally tricky, largely because it seems to hinge massively on one, again, deceptively simple decision. Who’s it going to be at the Commodity Futures Trading Commission (CFTC)? Brian Quintenz? Tyler Williams? Josh Sterling? Paul Atkins? Someone else? Predicting this game of thrones is no fun, largely due to the ease and speed with which any assertion

could be proved wrong, laying bare the witless speculation at work. Be that as it may, there are plenty of other market-transforming questions looming over the US to predict too. All of which could – to employ some predictions jargon – ‘resolve’ very quickly in a totally unforeseen direction, or indeed trickle into 2027.

Will the legal status of predictions go before the Supreme Court? Is a DraftKings entry inevitable? Could the vertical get so big it takes hold in Europe? To take a bettor’s punt on these and be proved utterly wrong hardly seems in the spirit of things. Instead, we’ll express our predictions as an appropriately financial looking percentage. It’s an investment you see...

Will these predictions seem way off base this time next year? 83% chance

Where there is uncertainty in predictions there’s money to be made (and lost), and the uncertainty at the top of the CFTC is the fate

of a multi billion-dollar industry in a job title. Brian Quintenz has been waiting a long time for his moment to come, having been nominated for Chair at the start of the year. But the market on him ascending to the role would now have plummeted were it available on Kalshi. All it took was the word of two techy rowers in the strapping Winklevoss twins and suddenly the White House is veering away from its controversial pick.

It is interesting that the controversial elements of his selection should concern the Trump Administration, given that Josh Sterling, the latest name linked to the position, shares Quintenz’s eyebrow-raising links to Kalshi. While Quintenz has a seat on the Kalshi Board, Sterling fought tooth and nail for his client, Kalshi CEO Tarek Mansour, this year, saying: “People are adults, and they’re allowed to spend their money however they want, and if they lose their shirt, that’s on them. I mean, that would be obvious, right?”

Trump has seemed to listen to the Winklevoss duo, Co-Founders of cryptocurrency exchange Gemini, and if the crypto-twins are wielding influence, it would seem Quintenz’s stumble

isn’t due to any second thoughts about his de-fi and deregulation-friendly agenda. Therefore, if it has seemed that things have been going rather well for the predictions sector in recent months – especially compared with the embattled sweepstakes operators – it might be about to get much better. Quintenz may only be getting overlooked because his pre-existing relationship with Kalshi is too overt and easy for critics to carp about.

Will an extremely predictions-friendly commissioner be selected as leader of the CFTC in 2026? 79% chance

Having said everything hinges on that CFTC decision, the future still won’t be crystal clear. There are just too many people for whom the fate of prediction markets matters greatly. A friendly commissioner at the CFTC doesn’t solve all of the vertical’s problems. In the words of The Who: “It’s a legal matter from now on.”

Will the status of predictions markets go before the Supreme Court? Maybe... though we’d suggest the outcome might be the same whether it does or not. The adversarial legal tactics and messaging from the big operators are dual purpose, they raise the market’s profile and they gum up the gears that might seek to grind it to dust. The longer that goes on... well, there comes a point where perhaps the market is too big to fail, too ingrained. What with Family Trump’s involvement and investment in both Polymarket and Kalshi, if it hasn’t reached that point by the start of 2026, we’d wager the

Christmas decorations will still be up by the time it does.

And what of objection from existing giants of sports betting? Will Martin, of Irish prediction market operator LiveDuel, told us: “It’s not a zero-sum game.” He believes it’s far more likely the sector learns to live peaceably alongside regulated sports betting than it outflanks and supplants it. There’ll be some friction – Flutter and DraftKings’ share prices have experienced some prediction turbulence – but the long-term homogenisation has already begun. FanDuel, Underdog, Prizepicks, they’re all opening up prediction markets like they know something we don’t, and it won’t stop there.

Say we reach this point of relative harmony. We don’t believe for a second that those involved will be satisfied and stop there. A job call-out from a Kalshi Chief of Staff described the company as being in ‘Hyper Scaling’ mode. It sounds strange to say considering the billions of dollars’ worth of revenue it’s drawing, but we sense there’s a belief this can get a whole lot bigger.

It may seem a gimmicky nothing, or it may say everything about Kalshi’s grip on 2026 America, but one of the roles advertised was ‘Social Media Sh*t Poster’. A ridiculous job on the face of it, but a timely one that’s probably worth lots of money if done cleverly. It seems to align with the increasingly adversarial nature of politics in the US, and the warring relationship operators have had with regulators and lawmakers thus far.

For all the grandstanding, we predict that the disruptors will eventually settle down and fall in line with general good practice regarding responsible gambling tools, know your customer etc. So if the question did go to the Supreme Court, we think the sector’s legal status would be ratified. But it may well not go that far, with some quiet compromise and a few handshakes settling most gripes.

Will the Supreme Court rule against prediction markets in 2026? 20% chance

There are two parts to why we feel predictions may go supersonic. Firstly, LiveDuel says sports betting is broken, a claim Martin admits isn’t bulletproof, but he does see inefficiencies in the cost structure: the lack of proprietary technology, platform fees, the flattening of innovation, all of these things cost sports betting operators money, which is passed on to bettors. Often the most successful innovations come unlooked for, finding growth headroom where it didn’t seem to exist. Could predictions be the iPhone to online sports betting’s BlackBerry?

The second part of the theory is our most speculative prediction: the zeitgeist. The bullish populist figureheads, decentralised finance, anti-establishmentarianism. The brands we’re talking about just possess an authentic modern ‘internettishness’ that feels capable of capturing Gen Z in a huge way. We thought this before that South Park episode, we just think it now all the more. Yes, Elon Musk likes memes, and he brought a social-media triviality to the White House (see, DOGE), but compared to the swashbuckling brio of the prediction operators in marketing and public spheres, Musk feels fuddy-duddy. Martin talks about the capacity for building involved online communities with prediction markets in a way that feels powerfully innovative and contemporary. Could that catch on globally?

Whoever was brave enough to bring predictions to Europe would be opening an oil tanker’s worth of worms, but the bigger it gets in the US, the more we think consumers here might start jonesing for it.

Well, we’re saying it’s possible, not that it’s bound to happen.

PAN-AMERICAN PROJECTIONS

The Americas has arguably been the epicentre of global gambling action this year, with the rise of predictors, regulation in Brazil, tax drama, sweepstakes, politics and celebrity influence – Gambling Insider takes a pan-America prediction trip from the frozen North to sun-drenched South.

CANADA: SLOWLY... AND THEN ALL AT ONCE

Sometimes referred to as America’s little brother (albeit, only ever by Americans) Canada’s gaming market is, indeed, one that is far surpassed by the US in size. But as people often forget in this industry, bigger doesn’t necessarily mean better.

It wouldn’t be a hot take to predict the opening of Alberta’s provincial iGaming market in 2026 because, well, we already know it’s coming. However, with Minister in charge of the transition – Dale Nally – specifying that the Ontario model is to be the roadmap, one can expect a compliant, collaboratively regulated hub for iGaming innovation. With dozens of serious players already lining up for Alberta’s market – and established monopolistic gambling frameworks for specific market sectors existing in other highly populated provinces –2026 could well be the year the likes of British Columbia and Quebec announce plans to follow big brother Ontario down regulation road.

Regarding the Ontario market, specifically, we will no doubt next year see the simple proliferation of what is already becoming

After a revolutionary year in gaming across the Americas, Gambling Insider takes the perilous predictive plunge, analysing what could be in store for the Canadian, US & Brazilian markets in 2026

a regular occurrence – EU operators using the province as a testing ground for the more intimidating US landscape.

As the the Alcohol and Gaming Commission of Ontario (AGCO) has done a fine job at establishing strict standards, particularly around advertising, that more closely mirror the European space, operators can, will and have begun to ease their way via Ontario towards US betting culture without having to completely remodel their internal regulatory structures. Indeed, a highprofile example of this being done during 2025 was Soft2Bet, which successfully took the slow and steady approach to North America by following this exact strategy. Seeing as it’s no secret that even some of the biggest fish have struggled to stay afloat in the US iGaming landscape, it is to be expected that this well-executed strategy gets emulated again (and again, and again) in years to come.

Ontario will certainly have no problem acting as the middleman, either. With a provincial alltime iGaming spend of CA$200bn (US$143.5bn) as of July 2025, the region is thriving after just three years of regulation and will welcome all the business it can get. 2026 may just be the year it is identified as the bridge of passage for the Atlantic gap.

US: THE CHICKEN OR THE EGG?

It’s difficult to know where to start with the US region at this present moment. The inherently unpredictable nature of the nation’s politics is

simply impossible to ignore, not least because it’s having a viscerally negative impact on Las Vegas’ economy, but also because it is lending itself to the ‘new wave’ trend of prediction betting. Herin lies the primary prediction for the US market in 2026; the CFTC will allow for the continued operation of prediction markets under the Trump Administration. At the very least, it will continue to not dis-allow the practice.

Looking away from this well-trodden topic, however, something the more ‘traditional’ betting operators in the US will almost certainly have to navigate in 2026 is rising tax rates. Illinois’ recent significant back-to-back gambling tax hikes to a maximum of 50% for larger operators led to FanDuel and DraftKings doing their best to intimidate other states from getting the same idea by pawning the cost off onto the players via a $0.50 per bet transaction fee. The tactic won’t work. Illinois aside, we have already seen betting taxes raised in New Jersey, Maryland and Louisiana this year and there are proposed rises on the table in Wyoming, Pennsylvania, North Carolina, Massachusetts, New Jersey (again) and Ohio. It would appear that state regulators have all-of-a-sudden recognised the potential for tax revenue from the gambling industry and as the country continues to scramble for stability amid a volatile economic climate, the nation’s fastest-growing industries will most likely bear the financial burden.

Meanwhile, as the horizon simply continues to expand for prediction markets, it will continue to shrink for sweepstakes in 2026. The practice’s journey in New Jersey over the past 12 months mirrors, in microcosm, its wider journey across the US. As we know, sweepstakes got off to a very promising start in New Jersey, specifically, with the Social and Promotional Games Association (SPGA) speaking to Gambling Insider exclusively on how it expected the state to take the lead on regulation. It did the opposite. In March, New Jersey instead became the first state to formally ban sweepstakes, lighting a fuse that has only served to turn up the regulatory heat on what was an already ambiguous sector. Since New Jersey, a near countless number of states have introduced anti-sweepstakes legislation, including most recently the world’s fourth-largest economy – California. Moreover, when you have one of the industry’s brightest and best in Pragmatic Play calling it curtains on sweepstakes, as it did in September, it is as clear an indicator as any on the direction of travel.

It’s tricky to know the exact direction the sweepstakes sector will take on in 2026, but it is a flickering flame. One thing guaranteed in 2026 is operators (such as VGW) attempting to legitimise along the way to keep the spark alive, with the operator’s groundbreaking tribal partnership with Kletsel Dehe Wintun Nation unlikely to be the last of its kind. As for the wider direction of travel – only time will tell.

BRAZIL: BLINK AND YOU’LL MISS IT!

As many will remember, in the latter stages of 2024 the majority of the industry wasn’t focused on what shape the Brazilian market would take on post-regulation. The reason for this is because most were simply observing in awe as government and operators, alike, scrambled to get the newly drawn up licensing process over the line prior to the dawn of the New Year deadline.

Since that time, things have settled down, slightly. Nevertheless, Brazil’s market is rife with innovation, controversy, influence and everything in-between. This, of course, makes predicting the market over the course of 2026 inherently difficult, yet one thing you could certainly ‘bet’ on is the proliferation of its influence over other regulated LatAm states; namely, Mexico.

Mexico’s outdated framework is in dire need of overhaul, as it remains almost entirely unchanged since 1947. Brazil’s structured licensing model and tax regime, alongside the market’s undeniable popularity, will either directly or indirectly spark conversation and subsequent action in Mexican Government during 2026.

Brazil will need to implement changes, itself, of course. The long-standing dispute between state vs municipal licences still remains unresolved and is now creating something of an offshore atmosphere within a singular market, particularly in the municipality of Rio de Janeiro. The issue is that the Rio licence has allowed operators to offer wagers outside of the state borders and across

Brazil but comes at a much lower price than the federal licence. This issue has been ongoing for almost 18 months, so it would be bold to offer any hard prediction as to its conclusion. However, with mounting pressure now coming from operators and lawmakers, eventually the Federal Government is bound to prevail – if not by insisting on the abolishment of the Rio municipal licence altogether in 2026, then at least by nullifying its obvious advantages and subsequent appeal.

Another development that kept the gaming world on the edge of its seat during the tail end of 2024 was President Lula’s threat to backtrack on regulation following reports that welfare beneficiaries were using funds to gamble with. Swift legislative changes dealt with this concern, yet it had caused a sudden shift in gambling’s public perception, with outcries of a youth gambling epidemic coming to the fore and remaining there for the duration of 2025.

Given the wealth of issues caused by influencer marketing in Brazilian gambling recently, the nature of youth exposure as an (unfortunately) consistent issue may be the kick that drastically curbs (or at least attempts to) influencer advertising in gambling altogether in 2026. To go further, stringent restrictions on sportsrelated gambling could also come into play in the coming year, perhaps forcing operators to innovate their way around the regulation via methods – such as sponsoring football leagues –as we have seen in Europe already.

THE FATE OF GAMBLING ADS

Will conversations, crackdowns and bans on advertising continue in 2026?

Gambling Insider investigates...

Discussions surrounding betting advertising –and the pros and cons of banning the practice – have been rife this year.

Take a look back over 2025 to set the scene. April; Kenya’s Betting Control and Licensing Board enforces a 30-day gambling ad ban, May; Brazil’s Senate approves a bill to restrict gaming advertising, July; Lithuania begins phased gambling ad ban, Macau reviews gambling advertising licensing, and the Philippine Amusement and Gaming Corporation (PAGCOR) cracks down on advertising standards, August; GambleAware study reveals safer gambling ads still contribute to harm in the UK.

is the opinion that gambling advertising leads to increased rates of gambling and thus increased rates of problem gambling. On the other hand, the argument is that, without gambling advertising, players will have no idea which platforms are legal and which ones are not, increasing their likelihood of engaging with operators that can cause them gambling harm.

The trend is global and does not appear to be slowing down. As such, conversations around the topic next year are inevitable.

THE ARGUMENT

When it comes to gambling advertising, there are two prevailing arguments. On one side of the ring

In reality, both statements can be true at once. An advert for a regulated betting site offering free bets for new sign-ups will mean more people play – and despite all work to prevent it, may lead to more problem gambling – but it is at least driving players towards sites that pay taxes to local Governments and can be held accountable by law.

However, to gain advertising space on TV, apps or public places, these platforms must be legitimate. While laws will again differ countryto-country, a reputable site or advertiser will be unlikely to showcase ads for illegal betting sites. If they do, local advertising standards

boards will seek to remove this breach of rules and regulations. In the UK, for example, the Committee of Advertising Practice (CAP) recently expanded its remit to include all nonpaid-for online marketing targeting UK players, including those with addresses outside the UK. All UK betting ads must also come with safer gambling warnings; something illegal operators may omit.

This means these ads are seen by more people, but they at least come with safeguards.

CHOOSING SIDES

So which countries will ban gambling ads, and will any countries already in the process of finalising bans come to regret them? This year has seen some abrupt and disruptive decisions made by lawmakers, with and without warning. India’s blanket ban on real-money online games like fantasy cricket, rummy and poker came as a shock to many; Flutter Entertainment CEO Peter Jackson

said he was “extremely disappointed with the sudden changes to the regulatory landscape in India,” forcing the operator’s native platform to close its doors.

If such a swift decision can be made regarding online gaming, who is to say how quickly the opinions of lawmakers may change when it comes to advertising, especially when research from responsible gaming figures like GambleAware supports the claim?

We predict that at least one market will cast a sudden, sweeping ban on gaming advertising. It will likely not be in a high-earning market, such as Macau or Western Europe, though in an emerging market in Africa, South America or Asia, such a ban is far more likely.

Brazil, for example, is a candidate we cannot predict. On one hand, the surge of interest in the market following legalisation at the start of 2025 has made it highly lucrative, and thus worth advertising in. With the sea of operators and suppliers flooding the market, standing

above the noise is critical, and advertising is key to that. A blanket ban on advertising would likely cause even more market uncertainty, cutting emerging players off from audiences.

However, the topic of influencer marketing in Brazil cannot be understated. With news including bizarre scenes in May when, during a court appearance to testify over dubious betting partnerships, influencer Virginia Fonseca was asked by Senator Cleitinho Azevedo to take a selfie with him; the Judge criticised the testimony of “turning into a circus.”

Moreover, multiple influencers have been arrested in recent months, with Maria Karollyny Campos Ferreira (Karol Digital), Maria Vitória Lima (Latina Gold) and Tainá Sousa all detained in August and September for their relations to illegal gambling schemes and promotions (though Sousa has since been released). All this points to a severe crackdown on advertising to come – especially online – though whether enforcement will come to pass is another story.

We also suspect that, where bans are not placed, regulations will get stricter. This may come to pass in some US states, most likely those in the Bible Belt, where clashes between morality and capitalism walk a continuous tightrope, as will other religiously-influenced markets, such as the Philippines (this year has seen religious bodies hold significant weight in the argument to ban online gaming, for example).

Many regulators should also update their advertising regulations as AI-generated content becomes more advanced. The speed at which content can be created and the breadth of operators working across the world to various degrees of market legality, will make regulating this new frontier all the more critical. Kalshi, for example, released an AI-generated commercial for Game Three of the NBA playoffs in June, where the “team went from idea to implementation in less than 48 hours,” according to CEO Tarek Mansour.

This is not to say marketing budgets have, or will, slow down, however. In Spain, the local regulator, Dirección General de Ordenación del Juego (DGOJ), found in Q2 that marketing spend was up 37.1% to €164.5m ($190.6m), and when looking at an operator like Flutter, sales and marketing costs have continued to grow, with Q2 2025 seeing costs reach $789m, up $43m year-on-year.

For nations already in the process of banning advertising, there will be short-term benefits and long-term challenges. For those in Lithuania already using betting sites, for example, their use will not stop with the ban on ads. However, as these users seek new experiences, and as new audiences float towards the gaming market later down the line, a lack of advertising will mean no clear indicator of where to go next. Some operators may leave the market under these circumstances, while others will fill the gaps, using online banners and SEO tactics to draw in users.

CLOSING THOUGHTS

People will always gamble. It is a practice that predates written history, to the Mesopotamians and ancient China, to the Renaissance and today. A ban on advertising will not stop gambling. In 2026, advertising costs will get higher and regulations will get tighter. This will be the case in the majority of nations; blanket bans are relatively rare, after all, though we do suspect one or two more territories to implement such a measure.Markets subject to a current state of legal overhaul, like the Philippines and Brazil, will likely continue to spearhead these conversations. But, with markets like New Zealand set to legalise iGaming in 2026, and Finland to demonopolise in 2027, the spotlight may be set to change.

Either way, the industry is far from done with debating regulators over advertising.

We explore VAR’s impact on sports betting, weighing the challenges, opportunities and hot air that have emerged in the seven years since its widespread introduction

The joy of football, for a fan, is a slight blur of what did happen, what by rights should have happened, what nobody can believe happened and what was missed by human error. For years, like it or not, dodgy offside calls were a part of football, dangerous challenges went unpunished, the ‘dark arts’ were a means of achieving victory from the shadows.

Tired of this state of affairs, 15 years ago, most were baying for Video Assistant Referees (VAR). There has proven to be a difference, however, between what fans thought they wanted and what they actually wanted. And yet, the offside law has never been more talked about or loathed. Brian O’Keeffe of Boyle Sports tells Gambling Insider: “Theory and practice have certainly played out quite differently and not just for fans.”

What most fans and pundits have realised is that they preferred the grey areas. But the money in football has no fondness for ambiguity. Owners and sponsors pumping ungodly amounts of cash into a club expect

zero ambiguity, and perhaps they can comfort themselves knowing that VAR has raised refereeing decision accuracy from 82% to 96% according to the Premier League’s own figures. So, it doesn’t suit fans, and it ought to suit the financiers, but does this marginal statistical improvement suit the betting operators? Or is the dismay and confusion that it brings fans an obstacle to the sportsbooks.

Somewhere in between, sports betting is a playoff of what statistically does happen and the pleasure people take hoping something might happen. Often, what people believe might happen is wishful thinking, and what actually happens in football can beggar belief. This means sports betting platforms can no more afford to be purely data-driven than they can led by their gut. They have to be across all the data to ensure prices are favourable, but their product must also be designed to appeal to the romantic essence of your typical fan. With that in mind, VAR posed

a riddle in its ill-fated crusade to audit and package a game without wishful thinking, interpretation and confusion.

In 2018, shortly after VAR was introduced to the English game, Kambi’s Head of Live Football Jonathon Hurst told Gambling Insider: “For football in general it should ensure that there are no longer huge miscarriages of justice. However, the rules are always open to interpretation (that’s one of the things we love about the sport!) so the introduction of VAR isn’t going to suddenly mean we have no talking points or controversy.”

This was an unusually foresighted perspective, but many fans did feel there was an implied promise with VAR to eliminate error. In practice, the rules themselves often just didn’t hold up against to-the-letter interpretation. Since VAR’s introduction there have never been so many rulebook modifications. And while people have disputes with referees, inevitably they will have disputes with bookmakers.

SO HAS VAR ACTUALLY MADE DISPUTES WORSE?

It might not be surprising to hear that there are corners of the internet, where people, perhaps bettors, have sought advice on suing a referee over a decision. Plenty of betting disputes arise because of refereeing decisions. There is, however, a simple get-out here, for both the besieged referee and betting operator: refereeing is not a legal matter, and as O’Keeffe tells us: “All markets are settled based on the result published by the Press Association at the time, which is a standard across the board and it’s essential for consistency and fairness.”

Of course this doesn’t stem the complaints, but according to O’Keeffe, Boyle Sports has noticed no “notable increase.” It’s possible that the technology has had a roughly equally forceful impact in both directions. On one hand, there are less glaringly incorrect decisions; on the other, those decisions that are questionable now invoke an even more indignant wrath.

Again, the cold facts may not be what fans who rail against VAR want to hear. But what operators can perhaps learn is that the material effects of VAR are louder than they are widespread. While VAR may not have eliminated error, this may be an example of it quietly, unpopularly, doing what it set out to do, which was minimise error and dispute as far as possible.

O’Keeffe says: “It may not have reduced emotion or controversy, but a reality we all have to face is that VAR has likely achieved an increase in the accuracy of decisions. A lot of the time fans feel that emotional disconnect not because the outcome is wrong, but because it was unexpected,

unclear or took a long time to reach.”

In that case, communication is king, because that “emotional disconnect” is a problem for betting companies, and as much as the match-going fan has their trust in authority eroded the longer they wait for a VAR decision, the same dynamic can rear up between bettor and operator. That’s because there is some discord between the financial importance of zero-latency updates for those all-important in-play markets and the delays and uncertainty that VAR brings. A player’s phone flashes ‘Goal,’ their bet has come in, they might want to withdraw it or take advantage of new markets. Suddenly they can’t, the markets are frozen and their win is reneged by VAR – if that customer wasn’t au fait with how the app works in that exact situation, they may feel furious and never return. No one wants to introduce more friction before the betting begins, but customer retention must be worth the additional clarity.

As Kambi’s Hurst told us seven years ago: “As we know, strong visualisation and live statistics are a key driver of in-play turnover and as such it’s important to keep the end user informed of exactly what’s happening in their chosen events.” This is as true with big VAR moments as it is any other. Now, the more time that passes, the more players have got used to the flow of games and the delays. And in turn, operators have had longer to fine-tune those visualisations, to the extent that we’re not hearing any explicit pushback from operators. more accurate. Those praying for abolition for football reasons may have all that investment

to contend with. The same goes for the operators and traders that have invested time and money into optimising for VAR – they’re certainly not going to be joining the abolition lobby anytime soon. Instead, they’re looking at opportunities. O’Keeffe points to Boyle Sports’ Early Payout offer, which means the bet pays out when teams go two goals up: “Late drama and twists in the tale are staples of football matches worldwide, but we pay out on two results quite regularly, so punters have enjoyed plenty of relief. We like to think that adds value to the customer and at certain times it has mitigated the confusion and frustration fans experience with VAR.” When bettors feel they are being catered for with enough “relief,” as O’Keeffe references, it’s possible VAR can become accepted as part of the unpredictable thrill of the game. While no operator is likely to shout too loudly about their pricing models, O’Keeffe does admit VAR has kept them on their toes: “We’ve had to invest in better data and more dynamic pricing models to stay accurate and fair.” Far from making the game more uniform, it seems the uncertainty when a decision is overturned has just made modelling certain events around goals, penalties and cards even more of a mercurial science. So is the fate of VAR in football and betting the same? For one thing, the investment on both sides makes it unlikely that it will ever go anywhere. And, secondly, maybe where operators and footballing officials are able to squeeze the full potential out of VAR, it could eventually add far more than it takes away –maybe it already is.

THE CORAL VIEW CHRIS WOOD, SENIOR FOOTBALL TRADER AT CORAL, SPOKE TO GAMBLING INSIDER

• To begin with I think there was a slight delay in calculating the effect on goal lines due to not knowing how much injury time would be added for VAR disputes and potential penalties. In the end, penalty awards have actually decreased since VAR was introduced and prices have got bigger to reflect this. We have not seen an increase in complaints or disputes.

• Customers feel aggrieved when VAR decisions go against them so we have to ensure that we settle markets correctly and as quickly as possible once we know the correct outcome. This is particularly important with scorer markets in-play.

• It is obviously not ideal but referees making mistakes during games and then admitting to them afterwards should be encouraged and doesn’t really make any difference to our processes, we will always settle our markets on the result on the day.

• VAR is never going away now, it is simply a case of honing it until it is as seamless as possible. Owners, managers, players, pundits and fans all wanted technological involvement before it was introduced, we all now have to live with it as it turns out humans are fallible and the laws of the games are not black and white. Hopefully, everyone will think twice before clamouring for the next “innovation” and VAR itself continues to get quicker and more accurate.

THE GAMBLING TIGHTROPE

Three markets have found themselves at a potential regulatory turning point. Gambling Insider investigates the situations in India, Brazil and the Philippines

India, Brazil and the Philippines paint three strikingly different pictures when it comes to how – or how not – to regulate your online gaming market.

Likely, by the time this article is read, circumstances will once again have changed, and some points in this argument will be redundant. However, that speed is part of the issue at hand: things are changing rapidly and, for some, it may be too quick to keep up with.

Here, we will attempt to break down

three markets that have seemingly found themselves on the precipice of change, and assess where this all may be leading.

INDIA

At the time of writing, it has only been a month since Indian Parliament formalised its ban on real-money online gaming with the Promotion and Regulation of Online Gaming Act.

To many in the industry, the news came as a shock. Not three months earlier, the Indian

Supreme Court agreed to examine Public Interest Litigation related to a ban on illegal online betting apps, as well as a request to tighten online gaming and fantasy sports platforms. It raised concerns over the social and financial impact of gaming, as well as the trend of celebrity endorsement of illegal betting, which in March saw 25 public figures and social media influencers investigated for their alleged illegal gaming promotions.

Now, it seems as though the baby has

been thrown out with the bathwater, as India has banned all real-money online games. Even the most reputable operators, like Flutter Entertainment, which runs Junglee in the area, were forced to close their doors. Commenting on the result, CEO Peter Jackson said: “We believe this change will drive customers to the unregulated market, offering limited consumer protections and providing no contribution to the local economy. We believe in regulatory frameworks that put customers first.”

Indeed, across the nation, layoffs began almost immediately. Mobile Premier League (MPL) was set to let go of 300 members of staff swiftly following the ban, with some statistics estimating that 200,000 jobs across the nation were at risk. Many operators weren’t ready or expecting such a sudden ban, and were told overnight online gambling is over.

If you want to put a ban on online gambling, there has to be a wind-down. A sudden ban is startling, a sharp uprooting that many were unprepared for. Staff will have to scramble for replacement jobs. Players will now be left with no clear indication of what to do next, which may pose a threat especially to those whose gambling habits are compulsive or problematic. But even so, a ban does not mean play simply stops. Play will continue, but will do so in places it shouldn’t. It’s the argument that almost every regulator seems to be backing – that illegal gambling should be banned, and stricter regulation implemented, but to enact a total ban will only lead to players finding other sources.

As Prohibition taught America in the

1920s, if people want something, they will get it, legal or not. Gambling is much the

“ With responsible growth, compliance and transparency, the Philippines can develop a safer, stronger and globally competitive iGaming industry. ”PAGCOR CEO and Chairman Alejandro H. Tengco

same, and in the age of the internet, where almost anyone can set up their own casino with a prepackaged turnkey solution, the accessibility of the black market has only snowballed.

THE PHILIPPINES

The argument of whether to ban or not to ban gaming has been the centre of many a headline coming from the Philippines recently. The nation has had a troubled history with online gaming. In July 2024, President Marcos announced a ban on Philippine Offshore Gaming Operators (POGOs); online gaming operators based in the Philippines offering gaming options internationally, particularly China. While earnest when first legalised in 2016, by 2023 and 2024, Gambling Insider frequently found itself covering stories of POGO raids uncovering crime syndicates, trafficking, arrests and, in one particularly harrowing case, an alleged mass grave in Porac, Pampanga. POGOs had become fronts for crime, in some instances even involving local politicians.

in the Philippines. Despite the Philippines being removed from the European Commission AML/CFT watchlist and seeing Fanatics enter the market this June, the safety of online gaming began to come into question as lawmakers sought to curb e-wallet use in late June. In July, the Philippines Central Bank introduced stricter online gambling payment controls in an attempt to curb vulnerable individuals accessing online gambling, with rumblings of prohibition beginning to make waves in the Senate. This culminated in August when the Bangko Sentral ng Pilipinas called for all e-wallet providers to cut connections to online gaming platforms, while the Senate announced its inquiry into the impact on online gaming. While operators attempted to negate this by moving online e-commerce sites, the damage was already done. Near the end of August, online gaming in the Philippines was down 50%.

They had to go. But the shadow of POGOs has lingered

While the Senate seems to be on a path to ban online gaming, with support from religious bodies to boot, gaming regulator PAGCOR has vocally opposed the idea. Said CEO and Chairman Alejandro H. Tengo:

PAGCOR has vocally opposed the idea. Said CEO and Chairman Alejandro H. Tengo:

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“The iGaming story in the Philippines is no longer just about growth; it’s about how we grow — safely, fairly and sustainably. We support stricter regulations to protect our people, but we are against a total ban, which will only drive players to illegal operators and result in loss of revenues and jobs. With responsible growth, compliance and transparency, the Philippines can develop a safer, stronger and globally competitive iGaming industry.”

Whether the Government will heed this advice, however, is yet to be seen. Unfortunately, the Philippines market has, over the years, completely blurred the lines between regulated operators and the black market, with the nature of gambling in the country as a whole not doing its reputation any favours. As such, if there was one country where a total ban was supported by evidence, it would be the Philippines.

BRAZIL

Brazil, meanwhile, seems to be at a crossroads. Reporting from the nation paints a picture of one still deciding what it wants its gaming market to be, despite having legalised at the start of the year. On one hand, it wants to be an expansive, active market; sports are integrated into the DNA of Brazil, after all. Yet it is also a market that wants strict regulation on who can play and when it can be seen, limiting national exposure to gaming. It is a market that wants to have its cake and eat it too.

In the July/August edition of Gaming America magazine, Product Advisor and

“ A ban does not mean play simply stops. People are going to continue playing, but will do it in places they shouldn’t. ”

LatAm iGaming Consultant Elvis Lourenço gave his thoughts on Bill PL 2.985/2023, which, if passed, would limit gambling advertising. In his opinion, such a ban would “suffocate any legitimate communication between betting operators and the public,” with ads only permitted after 7:30pm, in limited radio slots and outside of a certain window before and after sports matches. It would also ban the use of influencers, celebrities and mascots in advertising – the first being especially notable, given the importance of influencer marketing on Brazilian social media.

Brazil also passed a law banning those receiving social welfare benefits from using online betting platforms. Bolsa Família and BPC recipients include those who have received conditional cash transfers and monthly wages to low-income elderly or disabled individuals, respectively, and covers over 50 million Brazilians – just shy of a quarter of all people. Operators must now close accounts of those receiving social welfare within three days of identifying them.

As Lourenço put it: “The message is clear: Even lawful, regulated communication

is being treated as morally toxic.” Brazil’s multitude of influencer infractions when it comes to the Fortune Tiger game, though, at the same time show there is a genuine need to keep the industry in tow. And, whether fair or not, the Federal Government also seems to have a new tax policy devised every week. Plenty to keep our eyes peeled for...

MORALITY V LEGALITY

Overall, while Brazil and the Philippines still reap the taxation benefits of online gaming (E-games generated PHP 114.83bn/$1.98bn in the Philippines for H1), India has significantly cut its earnings with the removal of real-money online gaming. Gambling poses a tightrope that governments and regulators must walk, between the economic benefits of gaming versus its potential for social harm. While every nation will struggle at points, the wobble of the rope has been especially pronounced in these three countries. Regaining their balance will be key if they wish to see their markets explore their full potential, without increasing crime or unscrupulous operators.

INNOVATING TO PROTECT

Edward Carstairs, Partner at GJE, rejoins Gambling Insider to discuss gaming’s biggest IP and brand topics. What are the main trends to look out for in 2026?

Over the past year we have seen the gambling and gaming sector evolve in a number of ways, including increased regulation and the increased use of artificial intelligence(AI). The coming year will see further developments as many regions are tightening regulations around gambling which will, in turn, affect how intellectual property (IP) is developed, marketed and protected. The gambling industry is likely to see a more integrated approach to IP management, driven by technological innovation, regulatory changes and evolving consumer preferences.

This article explores the key IP trends businesses should look out for in 2026 and beyond. Companies that adapt their IP strategies to these trends will be better positioned to thrive in a competitive landscape.

DIGITAL RIGHTS MANAGEMENT (DRM) –CONTROL IP THROUGH CONTRACTS

With the continued growth of online gambling, securing IP through robust DRM strategies is critical to protect brands, as well as preventing piracy and protecting revenue.

The dispute between Aristocrat and Light & Wonder in the US and Australia has been well documented. Aristocrat sued for

misappropriation of its IP, copying of game mechanics and gameplay, and copyright infringement including reference to trade secrets and trade dress. Disputes of this nature will continue to arise in 2026.

The case highlights the importance of identifying and controlling the ownership of the IP that the business is creating. Any IP, like a website or a new logo created by an external agency, will be owned by that agency unless there is a document that says otherwise. Make sure the agency signs such a document to prevent any potential ownership disputes down the line, which could frustrate attempts to enforce your rights against a copycat.

A business should also ensure partners and employees sign robust contracts that acknowledge the business is the owner of the IP; and that they will not challenge those rights, file competing applications or deliver trade secrets or anything else to a competitor.

GAME LICENSING

Player acquisition can be expensive so licensing a known brand can attract an existing fan base and boost your position in the market. Those are strong brands because they are distinctive, and the owners have spent time and resources curating and developing them. Treat your brand in the same way.

Make sure your brand is free to use by adopting a brand name that is unique.

If another business owns conflicting earlier rights, those rights could form the basis of an infringement action to prevent your continued use in that market.

GLOBAL MARKET CHALLENGERS AND BRAND ENFORCEMENT

As new markets open up, including online gambling, challengers may piggy-back on existing IP rights, such as by bidding on Google Adwords.

Protect your brand with a trademark registration. A trademark is a business asset and can be used to preserve one’s position in the market as a basis to challenge a competitor that is using an identical or similar mark for an identical

or similar product. Registered trademarks are a strong basis of action against inappropriate use of Google Adwords where consumers are confused as to the origin of the product, or can only identity the origin with difficulty.

Where there is not a trademark registration in place, it would be necessary to rely on unregistered rights. This brings with it an additional hurdle since it is necessary to produce evidence that the unregistered right exists.

Compare this with the position where there is a registered trademark. In that scenario, the only evidence required is the registration certificate. In some countries, little or no weight is given to unregistered rights.

TECHNOLOGICAL INNOVATION

Advances in AI, augmented reality (AR) and virtual reality (VR) are reshaping gaming experiences. Similarly, gamification will increase, with interactive elements that could influence how IP is created and protected.

The graphic user interface (GUI) is of ever-increasing importance because it is the customer’s point of first interaction and so holds significant value. Registered designs exist to protect the appearance of a product and so are the natural home for protecting the GUI. By protecting the appropriate representations of the GUI a business can put itself in a strong position to challenge competitors and preserve market share.

It is also possible to obtain patent protection for the underlying software of the gaming platform and the technological innovation behind a physical gaming machine. This serves as a deterrent and barrier to entry for a competitor. The granted patent is also a business asset that can be monetised, for example through licensing.

Tax breaks are also available in the UK via Patent Box. Under the scheme businesses can benefit from a deduction of tax down to 10% on profits earned on patented technology.

Roll on 2026.

If you would like to discuss any of the issues raised in this article, you can contact Edward Carstairs at Edward.Carstairs@gje.com.

PREDICTIONS: COMPLIANCE AND IGAMING

BetComply CEO Daniel Brookes and Evoplay CEO Ivan Kravchuck give Gambling Insider their predictions for 2026

With 2026 on the horizon, we spoke to two executives — one from the compliance sector and another from an iGaming supplier — who shared how regulation, technology, and shifting player expectations are driving the next phase of the industry, from automated compliance to expanding global markets..

Daniel Brookes, BetComply CEO

Daniel, what tech innovation is going to transform the market next year?

Daniel Brookes

Everyone will talk about AI in marketing or game design, but the real transformation is happening behind the scenes. Regulators are demanding real-time, machine-readable compliance data, from safer gambling monitoring to transaction flows. The innovation that matters is how operators and suppliers can plug into these regulatory APIs and automate compliance, because without that, growth won’t be sustainable.

What region is going to be most important to your growth next year?

Finland and New Zealand are very important for us at BetComply. New licences always means excitement from our clients and getting ready for important market-entries. Finland will be interesting due to marketing; no affiliates but rather brand-level sponsorships etc. New Zealand with its auction-style licensing regime will prove who is ready to invest properly in this market.

What will be the biggest challenges in your sector next year?

The cost of compliance is escalating faster than the cost of innovation. Annual

security audits, penetration testing, RG tool integration, regulators are pushing more requirements down onto B2B suppliers as well as operators. Doing this cost-effectively, without 10s of partners (and invoices) is a challenge for the industry.

That and industry participants navigating their way out of 50-shades-of-grey. It will be a black & green market, and those coming from grey to green will need proper compliance roadmaps to be able to achieve this.

What do you predict the biggest consumer trend will be next year?

I’m a compliance guy, so I’ll always look at it through that lens. Consumers are starting to see compliance as part of the experience: can they really trust you with their data and their money?

In regulated markets, the brands that stand out will be those that can make compliance invisible but still transparent seamless onboarding, instant checks, frictionless withdrawals. User experience will be the battleground, and trust and transparency will be the new loyalty drivers.

Ivan Kravchuk, Evoplay CEO

What tech innovation is going to transform the market next year? I expect iGaming next year to deepen

the trends already shaping the industry, without any radical transformations. We’ll see bolder and more creative solutions with game add-ons – enhancing popular promotional tools, introducing new ones, improving service experiences and generally making the player experience more engaging. On top of that, promo tools will continue to evolve, with fresh mechanics popping up to keep players interested and entertained.

In new markets, our priority is to understand local rules, regulations and culture, while tailoring our portfolio and building strong partnerships. In markets we’re preparing to enter, we actively study cultural specifics, popular mechanics and themes, identifying partners for mutually beneficial collaborations.

What will be the biggest challenges in your sector next year?

development of the game.

We also expect that players will increasingly look for promo experiences that let them actively participate, compete, and feel more involved. When it comes to games, we’ll anticipate continued demand for timeless and modern mechanics, alongside innovative designs, including these shaped by player input.

Instant games will be a key area for innovation, as their nature allows providers to experiment with mechanics and genres, even borrowing from other industries. In a way, these formats open the door to even more exciting games, featuring diverse mechanics inspired by skill-based, arcade and other gaming experiences.

Collaborations will continue to evolve, including tech-driven ones. For example, this year Evoplay and SlotCatalog co-created the arcade-inspired instant game Uncrossable Rush, which is breaking performance records. We can expect more projects like thi s, building on accumulated experience.

What region is going to be most important to your growth next year?

Next year, we’ll focus on strengthening markets we’ve recently entered, like Canada and Peru, and on those we plan to enter soon – the Czech Republic and Spain. We also see strong potential to expand further in Latin America and Europe.

The iGaming industry is moving in quite a predictable way. Regulatory challenges will remain – they come every year, so I’d call them standard. What feels more interesting is AI. Its integration into game development and operations will definitely be challenging. We are already noticing how it’s driving change in iGaming and global entertainment, and it could create ripple effects that reshape the landscape, so we need to stay flexible. Another challenge I see is partnerships, which I think will reach a new level and open more opportunities for growth.

What do you predict the biggest consumer trend will be next year?

Next year, player-inspired experiences will take centre stage. It won’t just be about playing – players want to be heard, give feedback and influence games. Our Oath of Steel exclusive campaign with SlotsCalendar was a great example of how it works in practice: players had a chance to play a new slot before its official release, share their feedback on its design and gameplay and directly influence the

A NEON GREEN DREAM

The Hippodrome Casino and Paddy Power rolled out the green carpet for the industry launch night of Paddy’s Sportsbook – Gambling Insider attended to see what the fuss was about

A green carpet entrance, a string band scoring the winding walk down the stairs, silver living statues providing jump scares and more screens than you can wave a betting slip at. There was something dreamlike about entering the brandnew Paddy Power Sportsbook underneath the grand old London Hippodrome, and it wasn’t just the perplexing sight of Peter Crouch stood next to BGC CEO Grainne Hurst. The long-awaited Gambling Act review has certainly allowed the Hippodrome Casino the wiggle room to do something it’s been dreaming of for years – more slots and a sportsbook.

On one hand there’s a ‘Vegas-ification’ about both evolutions; on the other, this sportsbook is unmistakeably Paddy’s, and going from 20 to 80 slots still leaves the grand old venue nowhere near the small armies of them found in the big US casinos. However, there is a desire to compete internationally, and this is just one part of it. Even in the use of the American term ‘sportsbook’ we are given a clue as to the ambition of the venue to be contextualised in the pantheon of worldwide gambling destinations, not just the UK’s best. It was notable that when discussing the increase in slots allowed in the Hippodrome Casino, Executive Chairman Simon Thomas referred to US visitors, who he says often couldn’t believe

that a place as prestigious as this only contained 20 slot machines.

The neon lights and the glow of 55 televisions lit up the evening, as did the arrival of Paddy Power’s full roster of celebrity ambassadors. On arrival, all and sundry were given £200 ($267) of chips to gamble freely at any of the four table games: two roulette wheels, one Ultimate Texas Hold’em and one blackjack. Any winnings over that £200 would then be donated to charity, which gave us a fine opportunity to give the place a test drive – Gambling Insider is pleased to announce that, despite some mixed results, we were able to make a contribution with our winnings at night’s end.

When not glued to the screens, relaxing in one of the booths or grabbing some food or drink, punters can play on the video poker machines and of course enjoy a flutter on the featured sports. A UEFA Champions League night gave us the opportunity to see the place in full flight. Suffice it to say, no matter how busy this place gets, you’ll never be craning your neck to get a view – the sports really do come first here. And with the statement 10-metre wide curved screen, the atmosphere will be red hot when the really big moments in the sporting calendar come around and the split screen is parked in favour of dedicating the whole screen to one event.

Thomas took to the stage early in the evening to thank everyone who had made his dream of installing a proper sports bar in the Hippodrome a reality. Taking a brief trip down memory lane, he touched on the grand tradition of change and evolution at the Hippodrome, from elephants marching in the front door, to Magic Mike and from Peter Stringfellows to Paddy’s Sportsbook. He noted a great overlap of ethos and ambition between: “All in Hippodrome purple and all in Paddy Power green.” For Thomas, it certainly seems the realisation of a major objective.

For Paddy Power, it could mark the beginning of a shift in retail focus. Rupert Elwood was another speaker, and as Managing Director of Paddy Power’s retail arm, he seemed particularly enthused about the potential new direction. A decline in betting shop activity may make enterprises like this a strategic necessity: “Customers increasingly want a social atmosphere and great entertainment and the Hippodrome is the most iconic social space in London. It’s a dream collaboration.”

And if ending the night throwing a few arrows with women’s darts champion Fallon Sherrock wasn’t some kind of dream, we don’t know what is.

HIGH TIME FOR HIGH-STREET SLOTS

They have always been a staple of the British high street, but public perception has shifted radically in recent years against high-street slots. Gambling Insider’s Megan Elswyth takes a look at how this vertical is faring and what can be done to protect this British pastime

Adult Gaming Centres (AGCs) and betting shops have long been part of the UK high street, but they have since become an easy target as the retail landscape crumbles around them. The days of bustling malls and taking the train to the next town over for shopping trips are gone. Most UK high streets now look the same: a deluge of charity shops, a handful of brands such as Boots and Primark that still thrive in retail, and gambling shops. There are plenty of reasons for this decline, yet the accusatory finger has landed firmly on the high-street slot. The public has not come out to defend AGCs, either. As far as many people are concerned, high-street slots are predatory and unwelcome in their towns.

A PR CASE STUDY

We don’t need to explain to you that gambling has never exactly been ‘accepted,’ at least not

in Western society. It still carries some level of taboo, even when enjoyed safely and in moderation. However, some verticals have fared better in the public eye than others. Thanks to the Royal Ascot and Cheltenham, horseracing has a prestigious feel to it. Even when attending smaller, local tracks, the experience still carries an air of culture to it. As for casinos, Hollywood’s James Bond franchise has permanently altered the way people view these properties. Sure, not every location can look like The Venetian, but the customer understands that they are in something similar – and this perception can go a long way. Both casinos are horse tracks can be something grand and spectacular, even if that particular location is not. AGCs, however, have a much lower ceiling to them, both literally and figuratively.

Dingy, dirty and downright dastardly? Three

things no business wants to be, yet these are the assumptions that AGCs cannot seem to shake. The AGC operators that spoke with Gambling Insider about this problem explained that even hiring staff was an issue, as potential workers were worried about the venues being seedy and unsafe. “Oh, it’s nothing like what I expected,” seemed to be a common response to staff members visiting the store for the first time. Many AGCs in the UK have actually put in significant efforts to rebrand to more approachable venues, but the stigma is proving difficult to shake. Although the number of AGCs has fallen 38.4% since 2009 to a total of 384 (yes, those numbers do match), the average number of machines overall has actually increased 7% to 74,523, and the Gross Gambling Yield (GGY) has also increased 11% to £623.4m ($839.8m). So there are fewer locations, but more machines

in them. This model may be profitable, but it is still a world away from online casinos. There are almost double the number of remote licences, with 570 operators currently holding remote casino, betting and bingo licences; but the overall GGY from this sector was 10 times larger – £6.9bn in total.

WHY IS THE STIGMA SO DANGEROUS?

“Britain is now enduring the worst levels of child poverty since modern records began,” Gordon Brown wrote for the Guardian over the summer. He proposed increasing remote gaming duty from 21% to 50%, doubling revenue from in-person slot machines from 25% to 50% and raising the general betting duty from 15% to 25%. Brown claimed that this could raise £3bn to help impoverished children. While online casinos, with their massive £6.9bn in GGY, might be able to afford this increase, high-street slots and bookies operate with a much thinner margin. When this article dropped, few jumped to defend the industry. Many actually applauded the move, citing the dangers of gambling.

However, the British Horseracing Authority got to work, and on 10 September, almost every national newspaper covered its strike and explained the reasons behind the industry backlash. Within a few hours, the public understood that, despite horseracing being linked to gambling, it did provide opportunities and tens of thousands of job prospects to people living in rural areas who may struggle to find employment otherwise. Rising taxes would directly impact the number of jobs available in underserved areas. They would have to decide on which was the bigger issue: the harm that could come from gambling or the harm that would come from mass layoffs. This was a powerful move that was impossible to ignore and a great example of collective industry action. But not every vertical has a centralised body to advocate on their behalf, and these are more likely to fall through the cracks.

MIND THE GAP

Bookmakers are seen as a staple of British culture; the horseracing sector has been acknowledged for providing jobs to people living in rural areas; bingo halls are seen as a social night out; Family Entertainment Centres (FECs) offer a low-stakes, entertainment-based experience; and casinos are somewhere where people can gamble ‘safely’ under the supervision of staff. Despite ticking all of these boxes, AGCs are still seen as a blight on the high street landscape and with BACTA still gaining traction to act as a mouthpiece, there is little these organisations can do in the meantime... That does not mean the fight is over, though. When looking into this subject, I reached out to several of my local AGCs and FECs to see what the situation was like for them. The responses were mixed, yet optimistic. One AGC started a loyalty scheme that allows regular

players to spin a Wheel of Fortune with the chance to win vouchers for other independent businesses on that particular high street, including barbers, flower shops, beauticians and more. The same property also encourages people to come down for daily free bingo games as an acquisition tool to change the perception of the property from seedy to something that is warm, welcoming and hospitable. Another AGC has set up seating areas both inside and outside, with drink prices low enough to make the coffee chains sweat. They are making an effort to reinvent themselves as a place that anyone can visit for a good, calm and social time. As for the FECs, they emphasised how important these locations are for providing employment in rural seaside towns, especially in places such as the South West. After all, the humble seaside pier arcade operates under a gambling licence and will also be affected by any tax changes.

Another operator located in the South East noted that “the industry has moved on from what people think it is,” but that public perception is slow to change. It is not an impossible feat, however, just look at bingo. Despite bingo halls having slot machines on premises, it is still hailed as one of the safest activities for mature women to enjoy, even on their own. Even online bingo is hailed as something lighthearted and social, and the brands lean into this. Tombola’s most recent Open For Fun campaign featured TV personality Josie Gibson as its new Chief Moment Maker, a “brand-new role dedicated to spreading joy and unexpected fun across the nation.” She took on the role of a bin collector for a day, gave away free sandwiches and even held impromptu bingo trivia in the streets. All of this to say, who would worry about their nan

going down to the local bingo hall, when the vibes are marketed as this safe and positive? AGCs could learn a lot from this but, with many of them operating as individual, local establishments, a national ad campaign seems unlikely. The efforts will have to stay grassroots, while somehow changing public perception on a country-wide scale.

ARE AGCS THE DANGER, OR IN DANGER?

As online casinos surge in popularity and more people play at home on their own, they are no longer under the supervision of trained members of staff. Maxwell Marlow, Adam Smith Director of Public Affairs, reflected this sentiment: “Adult Gaming Centres ensure gamblers are not sold intoxication while they bet, and provide safeguarding for punters throughout their experience. While there is little wrong with online gambling, it occurs without additional guards in place for if the experience turns sour. If the Government wishes to treat gambling as a subject of public health, then adding higher taxes and regulatory hurdles to the safer forms of betting is irrational.”

Indeed, this sentiment was reflected by the operators we spoke to. “What goals does the Government have, and does further regulation even achieve these? What’s the point?” was a common shared sentiment. If regulations are there to protect the players while encouraging the company and wider economy to thrive, it seems unlikely doubling taxes would protect this balance. As for the stigma against AGCs and the belief that slot machines inherently make a property unsafe, one operator said: “Look at bingo halls and seaside arcades. The things you’re worried about are already integrated into the things you love.”

THE INSIDERS

In every issue, Gambling Insider commissions guest columns and interviews with people at the heart of the gaming industry – to discover more about the challenges its leaders, pioneers and innovators face. These contributors form The Insiders

IDA MALAGIC GREENTUBE

RAMIRO ATUCHA INDEPENDENT CONSULTANT

ANTON ESHTOKIN BOOMERANG PARTNERS

Event marketing: Being built for it

Greentube Head of Corporate Marketing & PR Ida Malagic discusses the planning, logistics and mindset needed to make the most of industry events

With so many events on the industry calendar, how do you prioritise which ones to attend?

We’ve been in this industry for 25 years and have a wealth of hands-on experience to draw from. Our priorities are aligned with our overall strategy, and we consider which markets and products are important to us in that quarter and how much exposure we’re aiming for. All of this influences the locations we choose, our booth

size, the activations and more.

As Novomatic’s Digital Entertainment Division, our events calendar has long been anchored around ICE – this is the first and largest event of our year and serves as the focal point from which we expand our activities throughout the calendar. Our Key Account and Sales representatives also attend a wide range of smaller-scale events where we feel our presence is needed to keep our brand front and centre in customers’ minds.

How do you effectively market your presence at an industry event?  Every event is different and we treat them individually as campaigns in themselves. Pre-event, our goal is to build anticipation through media coverage, social media teasers and targeted emails. During the event, our focus is on engaging people in real-time, both in person through our interactive booth and via social media channels. We also collaborate with the event organisers to place our brand in-and-around the venue and, where possible, through innovative marketing campaigns around the host city. For example, if you happen to be out and about in Las Vegas during G2E, you may see our Greentube advertising, like people had the chance to see at IGB in London this summer.

What marketing opportunities do industry events provide that typical marketing cannot?  Human connection. This is something

''I genuinely enjoy industry events. They're a source of inspiration and motivation''

other channels simply can’t offer. Face-toface engagement and direct feedback is invaluable. Events also provide a unique opportunity to generate high-quality content that we can use in our marketing efforts in the weeks following the event – content we wouldn’t be able to capture otherwise. On a personal level, I genuinely enjoy industry events. They’re a source of inspiration and motivation, as my peers across the industry consistently bring creativity and innovation to their marketing and event work. Over the years, I’ve built supportive and collaborative relationships with many of them, which makes these gatherings not only professionally meaningful but also personally rewarding.

With the amount of events you are attending, how do you and the team avoid burnout?

Burnout is definitely real in event marketing and it’s something we take seriously. Preparing and running large-scale exhibitions is extremely demanding – from stand design and logistics to registrations, catering and countless last-minute challenges. Work starts months in advance and often continues through dismantling. Enjoying this type of work is key – you really have to be built for it. Not everyone thrives in such a high-intensity environment and that’s okay. But I find it energising, even when exhausting, because I genuinely love seeing everything come to life on-site.

Our team is lean, so we have to be strategic. Reliable partners and meticulous planning help, but with the iGaming calendar getting more packed, it’s not realistic for anyone to be everywhere. Many companies – including us – prioritise the events that matter most and looking ahead, careful choices will be essential. Even with the pressure, there’s nothing more rewarding than connecting with partners and peers and experiencing the energy that only live events can bring. That’s why I’ll always love working on them.

Aligning goals, resources and trust

Oz Mustafa , Senior Business Development Manager at Wise Gaming, discusses the ins and outs of brand partnerships

You provide customer-centric solutions. Tailoring your offering to each client takes time – how do you balance that with scalability?

Absolutely, it does take time. What has impressed me at Wise Gaming is our tech team; they are a very unified and experienced team, and the scalability comes from the way they structure the process.

We’ve built a core framework of proven strategies, tools and methodologies that form the foundation of our offering, which means efficiency and consistency at scale.

From there, the team adapt the framework by focusing on the specific needs of a client. This balance ensures clients feel their solution is truly tailored, the Wise Gaming platform is powerful and lean, it lets us maintain quality, speed, and scalability while still delivering bespoke value.

You have a range of partners, including Evolution, Yggdrasil and Amusnet. What do you look for in a partner?

Some partnerships you just have to be aligned with. You referenced a few top partners there, and, overall, there are 120+ partner brands.

Here are five key factors:

1.

VALUES & REPUTATION

• Do they share similar values (e.g., integrity, innovation, customer focus)?

• Reputation; do they have a strong and

trustworthy reputation in the market, or indeed have an emerging star rep?

2. AUDIENCE FIT

• Core and emerging markets of interest to our ecosystem.

• Is there a natural overlap that makes collaboration mutually beneficial? A recent example here is Zenith Gaming, and I think that will help push us into the Asia market and expand our offering in LatAm in 2026.

3. PRODUCT INNOVATION, SERVICE AND RELIABILITY

• Consistent quality innovation in a highly competitive and crowded space. How the partner differentiates and stands out within that space.

• Will their offerings reflect positively with our network of operators/brands?

• Dependable and easy to work with, good account management teams are key to long term partnerships

4. COMMITMENT

• Making the partnership successful is very much a two-way commitment, and we look to establish that with a view to a long-term commitment.

5. GROWTH POTENTIAL

• Reiterating the commitment principle, assessing the potential for scaling the

"What has impressed me at Wise Gaming is our tech team; they are a very unified and experienced team, and the scalability comes from the way they structure the process."

partnership over time, new opportunities, audiences or innovation.

What makes an effective partnership?

An effective B2B partnership works when both sides see real, sustained value in collaborating. The strongest partnerships aren’t just about signing a deal; they’re about aligning goals, resources and trust for longterm mutual benefit.

Looking to the end of the year, what do you hope to have achieved with Wise Gaming by the end of 2025?

Always reinforcing the strong reputation of Wise Gaming in the iGaming space, backed by proven client results, a growing portfolio and a scalable service offering that will be a catalyst to our expansion, which we look forward to showcasing on our stand at ICE 2026.

From scarcity to overload

Ramiro Atucha, LatAm iGaming Expert, discusses the evolution of iGaming content distribution – and how the consequences of that overload are not universally positive...

the market. That platform eventually became the backbone of PokerStars Casino for years, marking an important milestone for us and, in many ways, the industry.

Fast forward to today and almost every company has its own RGS. The challenge has flipped completely: from scarcity to an overwhelming abundance of content. Operators once desperate for games now face the opposite problem ‒ too many releases, too fast.

Back in 2009, the landscape for independent game developers was far from welcoming. Distribution was a major obstacle. The only way to get content live was to convince each casino to integrate titles directly, one by one, or to rely on the very few platforms available at the time. I remember GTS ‒ later acquired by Playtech ‒ Quickfire from Microgaming, OpenBet with its complex onboarding, and not much else.

Casinos across the board looked nearly identical in their offering, featuring the same handful of games and promoting them with little more than free spins. Coming from outside the industry, it seemed natural to us to bridge that gap by creating a platform ‒ what we called an RGS ‒ to simplify the process. In 2010, we launched ours at Leander Games, and I still believe it was one of the first independent aggregation platforms in

This overproduction has created a few unintended consequences. First, the shelf life of a game has shrunk dramatically. Once a title falls out of the top lobby positions, its visibility ‒ and, with it, its revenue ‒ drops sharply. To compensate, developers release more games more often, hoping one will stay in a prime position for at least a few weeks. The result is a cycle that encourages volume over innovation. Games are increasingly “skinned,” built faster and more reliant on AI-driven shortcuts, which inevitably comes at the expense of creativity and R&D.

Operators, meanwhile, are listing hundreds of new titles each month, diluting the player experience. The result is far from the curated,

personal journey players actually crave. Few casinos offer meaningful personalisation ‒there’s rarely a “last played” or “recommended for you” section based on genuine user behaviour. More often, the “recommended” games are simply those with better commercial deals attached.

Of course, true innovation still breaks through from time to time ‒ think of the Megaways revolution, the rise of crash games, or other creative formats that genuinely resonated with players. But as we expand into new markets, localisation must go beyond language and imagery. It’s not about adding a tequila theme for Mexico; it’s about understanding each market’s maturity, the players’ habits and the games they’ve historically enjoyed.

Just as 2010 marked a pivotal shift toward aggregation and mass distribution, perhaps the next evolution will be a return to curation ‒ where data, personalisation and thoughtful content selection replace the flood of sameness.

Because, in the end, players don’t need more games. They need better ones, presented in ways that respect their individual tastes and journeys.

"The challenge has flipped completely: from scarcity to an overwhelming abundance of content. Operators once desperate for games now face the opposite problem – too many releases, too fast"

The journey to sports success

Anton Eshtokin, Chief Marketing Officer at Boomerang Partners, discusses the concept of Boomerang Arena, its partnership with AC Milan and more

You have begun using a new concept at your booth at industry conventions. Can you tell me about the process of developing this design?

The Boomerang Arena concept embodies our focus on sports and is a natural progression of our work. It is a space that seamlessly integrates a passion for sports, technology and winning strategies. Through this concept, we demonstrate that in affiliate marketing, as in sports, dedication is key to success, and there’s always potential for new, high-performing tactics. “Live without limits” is more than a motto - it’s an invitation to affiliate partners ready to grow with us and win big.

Part of the Boomerang Arena is its sports activations. How has your partnership with AC Milan bolstered this design aspect?

Given our objective of becoming the world’s number one sports affiliate program, the development of the Boomerang Arena concept was a logical next step. Naturally, we highlight our partnership with AC Milan at our booth.

This is reflected in various booth design elements, including the display of the Club’s official jerseys. Furthermore, we diversify our sports focus through other initiatives. For instance, at the recent SBC Summit in Lisbon, we held a raffle for sports memorabilia from legendary athletes, including Rafael Nadal, Fernando Alonso, Cristiano Ronaldo and Tyson Fury.

Speaking of, your AC Milan partnership has also influenced the Golden Boomerang Awards. How does the partnership affect the awards, and has it driven participation?

To start, the news of our strategic partnership with AC Milan became one of the most significant talking points in the affiliate marketing industry in 2024. We are pleased with our collaboration with the Club and appreciate their accommodating approach to our projects and events. Naturally, this partnership has significantly boosted Boomerang Partners’ brand visibility and expanded the toolkit of opportunities and benefits for our affiliate partners.

The decision to host the Golden Boomerang Awards 2025 at Milan’s San Siro Stadium generated considerable industry discourse. The event featured AC Milan Legend Andrea Pirlo, who presented awards across 11 categories. Attendees were provided with VIP access to the Stadium, its museum and the

official AC Milan store. A charity auction was also conducted, offering items such as a football signed by Andrea Pirlo.

Regarding participation, the inaugural Golden Boomerang Awards in 2024 involved 226 affiliate teams. This figure increased to over 400 teams in the second season. I don’t think it’s accurate to attribute the tournament’s growing popularity solely to our partnership with AC Milan, but it certainly played a part.

You also celebrate your affiliate partners with the Golden Boomerang League. How do these initiatives benefit both you and the partner, and what compels Boomerang to showcase others in this way?

The Golden Boomerang Awards and the Golden Boomerang League are designed to deliver value to both Boomerang Partners and our affiliate partners. Building a global, loyal community of affiliate partners, partly through organising flagship traffic tournaments, is a key step in achieving our objectives. For our partners, participation in these tournaments provides a platform to demonstrate their expertise and gain international recognition.

Furthermore, our events offer ‘money-can’tbuy’ experiences. These include fully-funded trips to AC Milan home matches, covering flights and accommodation, meetings with Club Legends, branded gifts and more.

"I don’t think it’s accurate to attribute the tournament’s growing popularity solely to our partnership with AC Milan, but it certainly played a part"

WHAT’S NEW ON THE MARKET?

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LIGHT & WONDER’S COSMIC UPRIGHT

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FINAL WORD

Momentum Group Chief Strategy O cer

The UAE Lottery is coming up to its one-year anniversary. Could you tell me some of the highlights?

One was, of course, the launch. It was a really big deal. We were all so nervous – and it went off without a hitch. But there was so much work and preparation that went into it from both us and the regulator. We were worried something would go wrong, but nothing did. That is one moment I’ll always remember.

The other that comes to mind is the day I found out we had 182 nationalities on our platform. I thought that was incredible. The entire world only has a little over 200 nationalities...

In the UAE in the past year, what have been some of your biggest learning experiences?

A really big learning experience was that, while the UAE is a digital country, it’s easy to forget about the small segment of people who don’t live their lives that way. We expected a whole range of customers on the platform, and one of the learnings we had was that we need to meet the customer where they are. We thought they were all digital, but that’s actually not the case.

There’s going to be a land-based casino, the Wynn Al Marjan, opening in the UAE in 2027. How do you expect the UAE market to change as regulation is developed for new forms of gaming? I expect it to become even more efficient when the regulations are developed. We can see evidence of it being drafted with efficiency and with outcomes in mind, and there are constant adjustments being made. Even now, there are adjustments being made based on our feedback as the first operator. Consider the speed at which this is

Christina Hu discusses a year of the UAE Lottery, and what it means to be the ‘ rst child’ of a newly regulated market

happening. 10 months in and we’ve already provided pieces of feedback that have been taken into account and drafted. That’s an incredible pace of change. When more vendors start coming, once Wynn starts operating, we will identify parts of the regulations that looked great on paper, but in practice aren’t as good. We’ll no doubt see those things changing and improving.

What are some unique traits about players in the UAE?

That’s a great question and it’s hard to answer because there are so many we’ve seen. Every customer group here is a microcosm of their home country, which is incredibly valuable for us. The richness of that data is unparalleled. One of the things we’ve noticed is that our customers love games that are exciting. There are some customer groups that enjoy more traditional lottery games, but our customers have a huge spike in transactions and interest whenever there’s a new game that’s different.

How do you keep up with regulation, and how do you deal with the responsibility of being so impactful into what that regulation looks like?

Very carefully. Every time we think of a change we want to propose, we consider all ramifications. We benchmark against other jurisdictions, not in terms of ones that are

similar to us, but in terms of ones that have performed well and have characteristics we want to emulate. That’s generally how we approach it, and it’s always very collaborative.

There’s nothing we hide from the GCGRA. Our relationship with the regulator is probably closer than the average operator-regulator relationship. We’ll frequently bounce ideas off of them. That is generally how we’ve been doing things and how we will keep doing things. As the first operator, we’re the first baby of this program. So we also get a lot of attention from the regulator, which is a blessing.

What do you hope to achieve with the UAE Lottery by this time next year?

We have a whole roadmap of products ready to launch, but what I really hope to achieve is to become a household name known for delivering fun games to people where they are and also for being a pillar of the community. We’re a lottery program and yes, we need to make revenue, we need to pay taxes, but we’re also a pillar of something much larger. The UAE is so visionary as a whole. I think that’s why gaming was brought to the country.

A year from now... I’d want to be that familiar brand people always reach for when they want to play something and be entertained, in the comfort of their home.

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