Tag: Product

CDI to develop DraftKings horse racing offering

Race track and gaming business Churchill Downs Incorporated (CDI) has entered into a multi-year agreement with DraftKings to develop DK Horse, a pari-mutuel wagering horse racing product for the sports betting operator.

CDI’s B2B horse racing subsidiary TwinSpires will develop the white-label solution. This will involve providing the company’s advanced deposit wagering technology to DraftKings.

While TwinSpires initially started life as CDI’s B2C online betting and casino platform, the business pivoted to being a B2B provider after facing intense market competition in 2021.

Under the terms of the deal, CDI will also provide the pari-mutuel wagering rights to content that the business owns or controls, such as the Kentucky Oaks and Kentucky Derby. CDI will also provide additional horse racing content on the operator’s behalf.

“We are excited to collaborate with Churchill Downs Incorporated, not only to give our existing customers an opportunity to engage with pari-mutuel horse wa..

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Simon Hammon’s lessons from a lifetime in slots: The present

Simon Hammon, recently named chief executive of Relax Gaming, insists he’s not a typical “product guy”. But the games released under his watch, like Starburst during his time at NetEnt, have had a massive impact on the industry. In the second part of a three-part interview, Hammon offers advice for businesses in the crowded slots space of today.

Simon Hammon’s success at NetEnt ultimately took him to Relax Gaming. In part one of this series, Hammon outlined how the move might have looked to some like a “step down”.

But since joining, the business has been growing strongly. For the second quarter of 2022, revenue was up 20% quarter-on-quarter to £5.2m, with six new titles rolled out and the Dream Drop jackpot feature going live.

Its partner base expanded to 15 new operators in that same period, while 132 studios were integrated into its RGS, while its reach extended to Italy and Spain, with a licence for Ontario setting it up for entry to North America.

That business-minded view has..

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The killer quartet of sportsbook performance

As sportsbooks in North America move from acquisition to retention, sportsbook performance has become more important than ever. But what does performance actually mean? Russell Karp of DataArt outlines the four key factors.

The promise presented by sports betting in North America has created severe competition. Beyond big casino and media giants like Disney, we see retail companies – such as Fanatics – trying to actively take their place in the market. New York sportsbooks alone brought $425 million in gross revenue in the first four months of 2022.

However, in a rush to be the first to attain licences and launch, operators often neglect the quality of their platforms. Early in 2022, when thousands of bettors flooded the freshly opened sportsbooks in New York, we saw betting platforms that were glitchy: a direct result of poor development. Bettors experienced technical issues such as login errors, the inability to place a bet or cash out, and more.

For example, Caesars faced a mas..

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Kambi pivots to modularisation as DraftKings exit continues to hit Q2 revenue

Betting supplier Kambi will increase its focus on modularised products rather than its full sportsbook solution – and may seek to make acquisitions – after key client DraftKings’ migration away from Kambi’s sportsbook continued to affect its earnings in Q2.

Revenue for the supplier for the quarter ended 30 June was down by 18.8% from Q2 of 2022 to €34.7m (£29.2m/$35.2m), a change the business said was due to the migration of US betting giant DraftKings away from Kambi’s platform and onto the SBTech product it acquired in 2020.

While DraftKings has already completed its migration, two other key clients are also taking steps to move away from its platform in favour of in-house options. Unibet operator Kindred has been building its own platform, set to launch when its partnership with Kambi ends in 2024.

If DraftKings – which produced 25% of Kambi’s revenue the prior year – is excluded, revenue was up 16% from Q2 of 2021.

Penn National gaming, meanwhile, acquired theScore last year, ..

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DIY or third-party: the sportsbook technology debate

The debate over whether operators should build their own technology or use a third-party solution has raged for decades, but it appears to have grown more intense as the US market opens. However, as Daniel O’Boyle reports, it may not be a question with a clear answer

It’s said that if you want something done well, you should do it yourself.

That appears to be an adage many sports betting operators have taken to heart.

Hop on any earnings call for a US operator, and there will no doubt be plenty of mentions of “proprietary sportsbook technology”.

The demand among operators for in-house solutions is backed up by their money. In 2020, DraftKings merged with SBTech, valuing the supplier at $634.1m. Last year, Caesars acquired William Hill for $3.7bn, mostly for its proprietary technology.

Meanwhile, theScore announced a long process to build its own sportsbook technology, which surely played a major part in Penn National Gaming acquiring it for $2bn.

“I don’t want to get distracted b..

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DIY or third-party: the sportsbook technology debate

The debate over whether operators should build their own technology or use a third-party solution has raged for decades, but it appears to have grown more intense as the US market opens. However, as Daniel O’Boyle reports, it may not be a question with a clear answer

It’s said that if you want something done well, you should do it yourself.

That appears to be an adage many sports betting operators have taken to heart.

Hop on any earnings call for a US operator, and there will no doubt be plenty of mentions of “proprietary sportsbook technology”.

The demand among operators for in-house solutions is backed up by their money. In 2020, DraftKings merged with SBTech, valuing the supplier at $634.1m. Last year, Caesars acquired William Hill for $3.7bn, mostly for its proprietary technology.

Meanwhile, theScore announced a long process to build its own sportsbook technology, which surely played a major part in Penn National Gaming acquiring it for $2bn.

“I don’t want to get distracted b..

Read more

Giving betting a voice

Betting is becoming easier than ever as the industry aligns itself with technological breakthroughs. One of the most recent of these is speech technology, which allows machines to recognise spoken word and perform related commands. This has been widely integrated, with devices like Amazon’s virtual assistant Alexa being a staple in many homes.

Technology company Voxbet seeks to bring automation into the sports betting world, giving bettors the opportunity to speak a bet or tip into existence. Its technology also allows bettors to type their bet for further accessibility.

Jonathan Power, CEO and founder of Voxbet, speaks about what the company offers and how voice technology creates a unique betting experience.

What does Voxbet offer that other providers don’t? How do these elements offer like a unique experience for players?

We’re a technology provider that simplifies the navigation of a sportsbook. So if you think about how you navigate anything else online, like Amazon or eBay, ..

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