iGaming 30-06-06 PartyGaming is set to unveil plans to expand into the sports betting arena.
The poker firm is to begin a series of acquisitions to be funded with the proceeds of a bond issue that could raise as much as £500m. The first purchase is rumoured to be a privately-owned European operator, and will be relatively small in the context of the fund-raising.
PartyGaming’s share price has been hit by attempts of conservative Senators in the USto ban, or at least restrict, online gambling in the US, where about 80% of the group’s customers live.
In a similar stance to sports betting giants such as Ladbrokes, it is understood that the company has decided not to accept sports bets from the US in an effort to limit confrontations with the anti-online gambling lobby.
The football World Cup has highlighted the need for expansion into sports betting with most online poker operators seeing a fall in activity on their sites this month, as European online poker players have tuned in to the football.
The World Cup – despite being less profitable than bookmakers had hoped because of the lack of surprise results – has also been a huge marketing boost for sports betting companies.
Sports betting will continue the diversification of PartyGaming after they successfully encouraged their players to play the new blackjack game and have also launched a backgammon site.
Those efforts have relied upon so-called ‘shared purse’ technology, which allows players to channel their gambling on all games through one account. A new sports betting facility is likely to be put onto the same platform.
Game developer Microgaming has announced plans to keep up their prolific game release schedule in 2020.
The company has just revealed plans for four new games to be released in the first month of the new year.
This marks the continuation of their four titles per month schedule which the developer has been pursuing for quite some time.
This January, Microgaming is hitting the ground running with new and exciting games from several third-party developers.
Kicking off 2020…
While most Dragonfish powered online gaming sites still limit jackpot payouts to 24 equal installments, the terms and conditions limiting regular bingo, slots, and other casino game wins have disappeared from all Dragonfish websites checked. This is great news for players who are used to seeing £1,000 per day, £2,000 per week and £3,000 per month withdrawal limits in the best cases at their bingo sites and £5,000 per month at casinos.
It might sound strange to some people from places like the United States, but there are tons of online gambling companies that are publicly traded. These companies are viewed as being just as legitimate as any other business, chiefly because they are. However, the main market for the London Stock Exchange, just like the main markets for many other stock exchanges, is still the place to be, and that's where the Paysafe Group is headed.
About the Move