U.S. comeback of Polymarket: Growth in problem gambling diminished
Headline: Major Moves in the Gambling Industry: Acquisitions, Expansions, and Regulatory Developments
The gambling industry is buzzing with recent developments, as companies look to expand their reach and solidify their positions. Here are the key updates that have caught our attention:
Polymarket's Regulated Return to the US Market
In a significant move, Polymarket, the world's largest prediction market platform, has announced the acquisition of QCX LLC for $112 million. This deal, confirmed on Monday, July 21, provides Polymarket with a fully regulated path to re-enter the U.S. market after exiting in 2022 due to regulatory issues and fines. With QCX LLC holding Commodity Futures Trading Commission (CFTC) licenses as a derivatives exchange and clearing organization, Polymarket can now legally offer prediction market contracts to U.S. users, aiming to provide a regulated platform for Americans to trade opinions on real-world events.
Polymarket CEO Shayne Coplan hailed the acquisition as an opportunity for his company to make its return to the United States.
CVC Capital Partners' Investment in Gaming Compliance
CVC Capital Partners, an international private equity and investment advisory firm, has announced its intention to acquire a 100% stake in Gaming Laboratories International (GLI), a leading independent testing, certification, and professional services company for the gaming industry. This acquisition underscores CVC's interest in expanding ventures in the gaming and gambling sector, positioning GLI to enhance its service reach with backed investment.
PointsBet's Ongoing Corporate Saga
Details on PointsBet's ongoing dealings with Betr and MIXI remain sparse or unreported in these sources. However, the mention indicates an ongoing complex corporate or partnership situation possibly involving acquisitions, alliances, or legal/market challenges. PointsBet, an active player in sportsbook and online betting, and Betr and MIXI, entities in the gambling/tech space, suggest strategic movements or competitive developments.
Expansion Plans for Evolution Gaming
Evolution Gaming is planning to localize several blackjack games, including Blackjack Clássico, Blackjack Illimitado, and Brazilian Blackjack, as well as game shows Crazy Time and XXXTreme Lightning Roulette, in Brazil. This move is part of the company's strategy to cater to the growing demand for localized content in the Brazilian market.
Resorts World New York City's Ambitious Plans
Resorts World New York City has presented its vision to build the largest fully integrated resort in New York state. The proposed resort would house 6,000 slot machines, 800 gaming tables, and 2,000 hotel rooms, marking a significant expansion in the New York gambling landscape.
Addressing Problem Gambling and Debt
A US News survey found that 30% of participants carry debt due to gambling activities, and one in four people have skipped on a bill to fund their gambling habit. These findings highlight the need for continued efforts to address problem gambling and promote responsible gambling practices.
The National Council on Problem Gambling's latest survey indicates that the number of problem gamblers in the United States remains relatively stable at 8%, with 38 states and the District of Columbia having regulated their gambling industries by 2024. However, the number of gamblers in sports betting dropped to 23% in 2024 from 26% in 2021, suggesting a shift in gambling behaviours.
Partnerships for Enhanced Integrity
BetParx has partnered with IC360, securing access to Integrity Monitoring Dashboard, ProhiBet, and Playbook AI, tools designed to flag suspicious betting activity and notify operators. This partnership aims to enhance the integrity of betting operations and protect consumers from potential fraud.
Strategic Developments at Octoplay and beBettor
Ralitsa Georgieva, Octoplay's Director of Business Development, discussed the studio's strategy and development of standalone products in a conversation with our website News. Sonny Cott, beBettor Chief Insights Officer, explained the importance of assessing the wealth profile of affiliate traffic as a missing piece in the puzzle for iGaming operators in an interview with our website News. These developments underscore the companies' commitment to innovation and growth in the industry.
As the gambling industry continues to evolve, we will keep you updated on the latest developments and trends. Stay tuned for more updates!
- The expansion of Evolution Gaming includes the localization of several casino games and game shows, such as Blackjack Clássico, Crazy Time, and XXXTreme Lightning Roulette, which indicates a focus on casino-and-gambling services geared towards the Brazilian market.
- In an effort to promote responsible gambling practices amidst the increasing trend of sports betting, the National Council on Problem Gambling has emphasized the importance of assessing the wealth profile of affiliate traffic as a key aspect for iGaming operators to ensure responsible gambling behaviors.
