Tag Archive : industry

Synergy Pharmaceuticals Herpes Treatment Renews Hope for a Cure and Ignites Debate in Pharmaceutical Industry

For those who contract herpes simplex in any of its forms, the virus is generally considered a lifetime sentence defined by unpredictable flareups and endless rounds of medication.  However, a major treatment breakthrough from Australian research and product development company Synergy Pharmaceuticals suggests that herpes may be curable.  News of this medical breakthrough could lead to a windfall for Synergy, but in addition to its impending success, the company is also tasked with overcoming criticism from many within the medical community.

A young company restores hope

Whereas previous drug trials focused on finding a vaccine for the herpes virus, Synergy Pharmaceuticals focused on finding a holistic solution for existing herpes patients, and the approach generated unprecedented results.

The company used a five-part treatment, the Combination Herpes Treatment, crafted from L-Lysine, Tribulus, Astragalus, Rhodiola, and a Unique Amino Formula.  The special combination of natural ingredients generated T cells which helped break down herpes’ viral envelope and weakened the virus to the point of erasure.  Essentially, the combination treatment prevented cell-to-cell infection and suppressed the virus’ overall activity.

Synergy Pharmaceuticals’ research showed a significant result in 72% of test cases.  Patients involved in the study had been infected for several years and ingested the five core compounds as directed for six months.

The core combination proved to be more effective than traditional antiviral medications or any proposed vaccines.  And since first unveiling the results of its initial study, Synergy Pharmaceuticals has made the core combination treatment available to the public and results have been equally promising.

However, with only a few years on the market, Synergy Pharmaceuticals is a relatively small fish in a very big ocean.  The company is making substantial headway across the Australian and Australasian markets and gaining a foothold in a highly competitive pharmaceutical marketplace.  But its groundbreaking cure, the first-ever natural treatment option for the herpes simplex virus, has invited scrutiny from many critics, including the major medical associations.

And naturally, there are concerns about Synergy Pharmaceuticals’ ability to meet global demand for its product as word spreads.  These queries are understandable, but there’s a simple solution.  To ramp up its capacity, Synergy will need to form strong partnerships across the European sector.  And to reach a scalable level of sales for millions of consumers, more companies need to buy in and support Synergy’s business.  In securing these partnerships, Synergy could take its business revenue to new heights and possibly quiet its critics.

The criticism stems not from ethical concerns about the drug’s effectiveness but from an industry-wide reluctance to embrace medications that aren’t pharmaceutical-based.  It’s an age-old dispute, in which the medical community refuses to acknowledge the health impacts of natural treatments.  The conflict is especially controversial when discussing a potential cure for the most prevalent viral disease. Understandably, critics like Josh Bloom come as no surprise given his longstanding employment with Wyeth and then Pfizer.  What is more starting is considering Josh was himself a supporter and advocate for the Rational Vaccine study that was later brought under federal criminal investigation.    

The (unsuccessful) race for a cure

Scrutiny aside, Synergy Pharmaceuticals has achieved something that many other companies have failed to do.
Vical Incorporated, a biopharmaceutical product developer, launched a clinical study in 2017 with the hopes of treating herpes simplex virus type 2 (HSV-2). The study seemed hopeful – it was double-blind, placebo-controlled, and randomized, and the study group was comprised of herpes patients that experienced 4-9 flareups in a given year.  But in June 2018, Vical announced the study had failed.  Study participants did not see a significant reduction in recurrences during the trial period.  Sadly, based on the study’s disappointing results, Vical decided to terminate its entire HSV-2 program.

Vaccine and immunotherapy company Genocea launched its GEN-003 drug trial with the hopes of discovering a cure for genital herpes.  But in September 2017, the GEN-003 program was shuttered, with Genocea cutting its workforce by roughly 40%.  In an official press release, the company said it was “exploring strategic alternatives” to the GEN-003 program.  Like Vical Incorporated, Genocea too had failed.

This left hope in the hands of Rational Vaccines, a medical research company that had announced a successful 2016 drug trial for a live vaccine, Theravax, which treated both HSV-1 and HSV-2.  Rational Vaccines was the brainchild of Southern Illinois University professor William Halford, who’d been working on a herpes cure since 2007. Halford failed to muster up the financial support to fund his research, so he conducted drug trials without the approval of the FDA.  Three of the patients in his trial had adverse reactions to the treatment and sued Rational Vaccines.  Then, the FDA announced a criminal investigation into Rational Vaccines’ study and operations. So, despite Rational Vaccines’ breakthrough and the promise of its future work, progress was halted, and it seemed the medical industry as a whole had no way forward with a cure for herpes.

With so many highly publicized failures in recent years, it makes sense that critics would doubt Synergy Pharmaceuticals.  But with successful research results and a consumer product on the market, the company is proving that this herpes treatment is the real deal.  

Only time will tell how Synergy Pharmaceuticals and its stakeholders are impacted as the Combination Herpes Treatment becomes more widely available.  However, one option could be a financial showdown with big pharmaceutical companies.  If the giants double down on their antiviral approach, they could try to buy out Synergy to eliminate the threat to their businesses.

 With so many highly publicized failures in recent years, it makes sense that critics would doubt Synergy Pharmaceuticals. But with successful research results and a consumer product on the market, the company is proving that this herpes treatment is the real deal. “While we have been faced with our fair share of challenges. All in all when offering something as revolutionary as what this is, it is to be expected.” CEO Simon Anderson.

Whatever happens, it’s quite possible that Synergy will do more than improve the lives of millions of customers – it could also cause a major shakeup in the pharmaceutical industry.

For more Information: www.synergy-pharmaceuticals

Media Details
Name: Simon Anderson
Company: Synergy Pharmaceuticals
Email: [email protected]

All eyes on the casino industry, payments and compliance, among the topics at MBGSVE2020 (Virtual Conference)

All eyes on the casino industry, payments and compliance, among the topics at MBGSVE2020 (Virtual Conference)

The casino industry, payments industry, and future compliance to be in the spotlight on the 7th of May during virtual conference.

Big names of the casino, payments, and gambling compliance industry are joining the discussions at European Gaming Media’s (part of Hipther Agency) first virtual conference this year which will take place on the 7th of May.

You can register on this link to save your seat (no travel needed, you can attend from the comfort of your home or office)

PLEASE NOTE: If you are already a registered delegate of MARE BALTICUM Gaming Summit, you don’t have to purchase a new ticket!

IS THE ONLINE CASINO INDUSTRY BENEFITING DURING SPORTS TOURNAMENT DISRUPTION?

Sports betting enthusiasts are spending more time playing casino games and with all the land-based casino lockdowns, the online casino industry should be benefiting the most. Among the verticals that have seen an increased activity is the online poker industry. While live tournaments are being canceled, the poker players are moving online and resurrecting the online poker industry. But, is this the real case?

The experts of the “IS THE ONLINE CASINO INDUSTRY BENEFITING DURING SPORTS TOURNAMENT DISRUPTION PERIOD” panel discussion, which will be moderated byAndriusGabnys (Attorney At Law – Gabnys Law Firm), is joined by BeyzaOrazova (Head of Sales, iGaming at DIMOCO Carrier Billing), Vadim Potapenko (Head of sales at Slotegrator), Dmitry Starostenkov (CEO at Evenbet Gaming – the leading poker platform provider), Jan Urbanec (CEO at Endorphina), Vladimir Malakchi (Chief Business Development Officer at Evoplay Entertainment), and NadiyaAttard (Director of Sales at Relax Gaming).

THE PAYMENTS INDUSTRY DURING COVID-19

Social distancing is keeping people in their homes and with this comes more online spending. The fiat currencies are doing good during this crisis, however, cryptocurrencies are losing their value fast. We will analyze if there are growths in the transaction volumes and how the spend is increasing during this period but also keeping an eye on cybersecurity.

The discussion will be moderated byDr. Simon Planzer (Partner at PLANZER LAW),and will be joined by Simon Dorsen (Director of Gaming at OKTO – Gaming Fintech solutions), Vytautas Karalevičius (Co-founder at Bankera), Vasilije Lekovic (Director of Gaming at Trustly), SauliusRacevičius (CEO at ConnectPay), Olga Golikova (Head of Billing at Parimatch), and Marc Riedi (Director, paysafecard Switzerland, a Paysafe Company).

WILL ADVERTISEMENT BANNING STILL BE ENFORCED AFTER COVID-19?

While battling against COVID-19, European countries are spending a huge amount of incomes and once the battle is over, the state budget has to be supplemented. Will legislators consider lifting advertisement bans in order to allow operators and affiliates to relaunch their activities and start running the business, while paying taxes.

Compliance experts and lawyers, regulators are going to join the “WILL ADVERTISEMENT BANNING STILL BE ENFORCED AFTER COVID-19?” panel discussion, which will be moderated by Dr. Joerg Hofmann (Partner at MELCHERS LAW).

The discussion will be joined by SörenMeius (Estonian Ministry of Finance), Morten Ronde (CEO at Danish Online Gambling Association and Managing Partner at Nordic Gambling), Joe Ewens (Managing Editor of GamblingComplianceat VIXIO), GustafHoffstedt (Secretary-General at the Swedish Trade Association for Online Gambling), and Ivan Liashenko (Chief Marketing Officer at Parimatch).

As mentioned above the virtual edition of #MBGS2020VE will be held on the 7th of May and will gather 300 gambling industry professionals who can attend virtually from their internet browser. The gathering will allow virtual delegates to network at virtual tables in the virtual deal room and conduct 1 on 1 meetings with their prospects/clients/partners.

The conference will start at 9:30 AM CET on the 7th of May and the participants will gain access to the platform on 23 April.

For further inquiries about the 2020 edition of MBGS and BSG Awards, speaking/attending/sponsoring options, make sure to send an e-mail to Andrada Bota (B2B Sales Executive at Hipther Agency) or subscribe to the weekly newsletter on the following link.

Among the supporters of the conference, you will also find Square in the Air as a strategic partner, and leading media outlets such as Online Casino Reports, CalvinaAyre.com, Focus Gaming News, Gioco News, iGaming Business, iGamingCalendar.com, Gambling Insider, InterGame, Global Legal Group, FortunaWeb, Commission Magazine, Slotegrator and much more.

For media-related inquiries, please contact Alexandru Marginean (Marketing Specialist at Hipther Agency).

MARE BALTICUM Gaming Summit Live and BSG Awards

Information about the live edition of the conference and BSG Awards, which will be held on the 6th of August, will be announced at a later stage. The online voting stage for BSG Awards 2020 has been stopped and will be reset in order to allow all participants to focus on different matters.

A new online voting stage will be started between 1 and 30 June. Further information will be released in the upcoming weeks.

MARE BALTICUM Gaming Summit, also known as the Baltic and Scandinavian Gaming Summit & Awards offers the opportunity for both new companies and veterans, to learn about industry insights and compliance update, while also being part of a group that is at the forefront of the gambling industry in the Lithuania, Latvia, Estonia, Sweden, Denmark, and also from the DACH region.

The Summit approaches all regulatory and compliance related aspects of the mentioned markets and also highlights some trending topics of the gambling industry.

For more details visit www.marebalticumgaming.com

European Gaming Media and Events press contacts:

Zoltan Tuendik, Head of Business

[email protected], +40 735 559 234

Alex Marginean, Marketing Specialist

[email protected], +40 731 394 220

California’s marijuana 4/20 celebrations go virtual as industry adjusts to new reality

This Monday — and, really, all of April 2020 — was supposed to be big in the world of cannabis.

Since 1971, when a group of Northern California teens started meeting at 4:20 p.m. each day to smoke weed and hunt for an elusive marijuana patch, the figure 420 has been tied to cannabis. And so the fourth month of 2020, and the date 4/20/20 in particular, was poised to give marijuana consumers extra cause to celebrate the industry’s unofficial holiday while offering legal cannabis companies a welcome marketing hook.

But shelter-at-home orders tied to the coronavirus pandemic have pumped the brakes on most 4/20 celebrations. Even in weed-friendly San Francisco, Mayor London Breed is threatening to arrest anyone who shows up for the state’s largest annual cannabis gathering at “Hippie Hill” in Golden Gate Park.

Read the rest of this story on MercuryNews.com.

Time to demonstrate industry responsibility

Valentina Franch, Assistant Manager at KPMG Malta, believes now is the time for operators to create industry trust by focusing efforts on responsible gambling.

Speaking during an online Betting In Face Of COVID-19 conference, Franch explained some trends KPMG Malta has observed in operators during the coronavirus pandemic.

She said: “Most regulated and responsible gambling efforts show that operators have recognised the increased risk of isolation for players and are committed to taking appropriate action to mitigate that risk.

“They are committed to identifying any instances of problem gambling and intervening where necessary.”

Franch believes this level of commitment is now more important than ever with all eyes on the industry’s behaviour.

She continued: “The sector must act with the most responsibility in relation to advertising and monitoring customer spends and any signs of gambling addiction.

“We know there have been many donations from the industry but this is the right time to demonstrate responsibility from the industry and the opportunity to realign that perception that often comes when one thinks about the gaming industry.”

In addition to refocusing responsible gambling efforts, Franch advises operators to “realign their businesses,” concluding that now more than ever operators must be “agile and adaptable.”

Cannabis 4/20 celebrations go virtual as industry adjusts to new reality

This Monday — and, really, all of April 2020 — was supposed to be big in the world of cannabis.

Since 1971, when a group of Northern California teens started meeting at 4:20 p.m. each day to smoke weed and hunt for an elusive marijuana patch, the figure 420 has been tied to cannabis. And so the fourth month of 2020, and the date 4/20/20 in particular, was poised to give marijuana consumers extra cause to celebrate the industry’s unofficial holiday while offering legal cannabis companies a welcome marketing hook.

But shelter-at-home orders tied to the coronavirus pandemic have pumped the brakes on most 4/20 celebrations. Even in weed-friendly San Francisco, Mayor London Breed is threatening to arrest anyone who shows up for the state’s largest annual cannabis gathering at “Hippie Hill” in Golden Gate Park.

Read the rest of this story on ocregister.com.

UK gambling industry should brace for a new media storm

As the coronavirus outbreak gripped the globe, the UK media unsurprisingly found less time to cover the gambling industry, focusing instead on the quickly unfolding pandemic.

At the same time, the positive influence of the Betting & Gaming Council (BGC) since its formation in November has reduced unnecessary media criticism.

As you can read about in the May/June edition of Gambling Insider magazine, the BGC has already got to work swatting baseless accusations from mainstream outlets; it has also lobbied very effectively to persuade the UK Government to reverse a recent decision and provide gambling firms with COVID-19-related aid. Its Virtual Grand National endeavour even drew widespread praise from publications across the UK.

But the slowdown in ‘bookie bashing’ has naturally had more to do with the greater dedication of resources towards reporting the coronavirus pandemic.

And rightly so – except for the fact the pandemic is now less of a ‘new’ phenomenon, which has slowly seen an anti-gambling agenda creep back into the national spotlight, as media outlets begin to dedicate more attention to the normalised, everyday aspects of life in lockdown.

A key example was recent coverage in the Daily Mirror newspaper, of several gambling companies in Singapore offering markets on the daily coronavirus death count.

The headline ‘Punters can bet on daily coronavirus cases on sick illegal gambling websites’ was a wholly accurate one. You can indeed place these bets and offering such abhorrent markets is indeed ‘sick.’

Here, the Daily Mirror did nothing wrong and simply reported the facts. It, of course, failed to mention licensed sites in the UK are in a completely different realm of gambling, in that their licenses would likely be removed immediately upon offering of such markets, though it is not obliged to do so.

But, when it comes to public perception, a betting website is a betting website – whether licensed or unlicensed. That’s why a pandemic like this is always likely to lead to outliers and bad actors letting the regulated sector down – lowering the wider industry’s reputation even further.

Ominously following that story, though, was a request from the Guardian newspaper. The Guardian community team’s post on Thursday asked the public to describe how life in lockdown is affecting their gambling.

Again, the Guardian has done nothing wrong here. This is, of course, a story in the public interest, with problem gamblers understood to be at increased risk when in isolation and social distancing.

Given the Guardian’s history, however, you can see exactly what the publication is doing. As well as giving a voice to people who genuinely suffer from addiction, there will now be the opportunity for a frustrated player with no problem gambling tendencies at all to simply lambast their bookmaker for allowing them to lose a little more than they wanted to.

Instead of seeking out news, the Guardian has quite literally invited gambling critics to do the news hunting for the newspaper. If the majority of players email in and say they actually gamble the same or less, will it make the headlines on the websites of national outlets?

And yet if just one person says they have gambled more during lockdown, you can just imagine the stories written off the back of it. Especially when empirical evidence is all but ignored and all data, outdated or not, is blown out of proportion by the nationals on a regular basis.

Operators should therefore be prepared for a fresh wave of media scrutiny. While those in the industry can separate licensed actors from unlicensed rogues, a key distinction is the public will not.

Regulated gambling companies licensed in Malta, Gibraltar, the UK or elsewhere versus those operating offshore all fall under the same umbrella for the millions sitting at home. So if betting sites in Singapore offer immoral markets on the COVID-19 death count, compliant companies on the other side of the world will feel the heat for their actions.

There is even some continental momentum when it comes to curbing regulated operators, with poker bonuses recently being outlawed in France, while Spain has implemented heavy gambling advertising restrictions.

Meanwhile, if a casual UK player is unhappy about losing a single online wager in the last few weeks, instead of just their Twitter followers, national newspapers are now rubbing their hands together waiting to hear all about it.

It might be time once more for the gambling industry to brace itself, with another media storm potentially just around the corner.

Leading CEOs to shape post-pandemic future for betting industry at SBC Digital Summit

Leading CEOs to shape post-pandemic future for betting industry at SBC Digital Summit

The opening day of the SBC Digital Summit will see many of the industry’s highest-profile CEOs share their vision of how sports betting operators can survive the downturn caused by the COVID-19 pandemic and bounce back stronger than ever.

A selection of visionary leaders from major international operators headline the roster for the Leadership in Betting track on 27 April 2020. Their expertise and reputation for innovation guarantees that the gambling industry’s largest ever online conference and exhibition will begin with a flurry of ideas about how businesses can move forward when the crisis eases.

The day kicks off with a rare conference appearance by Carsten Koerl, the CEO & Founder of Sportradar and Founder of Bwin, who is to deliver a keynote address.

Koerl’s presentation will be followed by the ‘Business continuity in the face of COVID-19’ panel, with George Daskalakis (CEO & Founder, Stoiximan / Betano), Tim Heath (CEO & Founder, Coingaming Group), Jesper Svensson (CEO, Betsson Group) and Shay Segev (COO, GVC) sharing their experience of coping with the lockdown and vision for how businesses can prepare for its end.

A lack of livesports action has seen sportsbooks and punters alike searching for alternative markets. The day’s second panel, ‘Off the bench: what is there to bet on?’, will see Dominik Beier (CEO, Interwetten), Minja Bolesnikov (CEO, MaxBet), Alexander Martin (CEO, SKS 365) and Ebbe Groes (CEO, EveryMatrix) examine which of them have worked and whether they could remain popular when things return to normal.

Another major concern for many operators is the impact of the enforced shutdown of their retail estates and what this means for their shop staff. The ‘An opportunity to revisit the omni-channel approach?’ session will see Fabio Schiavolin (CEO, Snaitech), Per Widerstrom (CEO, Fortuna Entertainment Group), Giovanni Garrisi (CEO & Founder, Stanleybet) and Johnny Hartnett (CEO, Superbet) outline their visions for the future of retail.

Leadership in Betting concludes with an in-depth examination of the opportunity offered by esports, which has been one of the few markets able to continue since the crisis began. The

‘Esports – let’s get digital’ panel is to feature the CEOs of two operators that have enjoyed huge success in the market, Paris Smith (Pinnacle) and Sergey Portnov (Parimatch), along with Pavol Krasnovsky, CEO of specialist odds and trading provider RTSmunity.

Rasmus Sojmark, CEO & Founder of SBC, said: “The speaker roster for the Leadership in Betting track is one of the strongest the industry has ever seen, guaranteeing an exciting opening day for our groundbreaking virtual event.

“Whether you work for a sports betting operator or in the supply chain, you are sure to learn something valuable from this group of hugely influential industry executives.

“In between the conference sessions, you’ll also be able to take advantage of exclusive networking opportunities with fellow delegates, providing a much-needed chance to connect with colleagues across the industry – all without having to leave the house.”

The SBC Digital Summit runs from 27 April to 1 May 2020 and also features conference tracks focused on Leadership in Gaming, the Latin American market, lotteries, payments, the US market, and digital marketing.

The thousands of delegates logging in from around the world can also take in a virtual exhibition featuring the latest offerings from the betting and gaming industry’s most innovative suppliers, and make valuable new contacts in the virtual networking lounges.

BtoBet industry report: Colombia – a shifting from retail to online

  • BtoBet report analyses the evolving Colombian market as it adapts to a more digital native community

Whilst still primarily a market with strong retail tendencies, the Colombian iGaming industry is fastly adapting to the digital channels as the country’s technological infrastructure are constantly improved.

This is strongly indicatedby Coljuegos’ end of year fiscal results which were published last October. Whilst retail bookmakers accounted for the bulk of tax revenue, amounting to61% of the market, it wasonline operators – though still having only a 10% of the market share – that constituted the fastest growth of any legal form of gambling.

All this data is presented in BtoBet’s latest Industry Report for the Colombian market, “Colombia: Shifting From Retail to Online”, the latest in a series of Reports compiled by the leading iGaming platform provider that analyse and dissect all the major markets on a global level.The Industry Report also offers valuable data in relation to the improvements that the country has undertaken in recent years in its technological infrastructure.

Amongst other key data, interested operators are provided with detailed information regarding:

  • Internet penetration,
  • Smartphone penetration,
  • Daily average internet usage,
  • Average speeds and improvements in internet connection and mobile internet speeds
  • Different device usage,
  • Insights of how one can diversify a retail strategy to place more empahsis on the digital channels,
  • How one can target non-registered players, and
  • The use of social media and how one can use this communicative medium to provide a more engaging and player-centric betting experience.

All those operators keen on having a deeper insight on how the Colombian market is evolving can download BtoBet’s latest Industry Report, and schedule a meeting with its team of professionals by sending an email on [email protected].

Why has the UK gambling industry been excluded from business rate relief?

On 17 March, the Chancellor of the Exchequer in the UK ensured the House of Commons the Government would “do whatever it takes to support our economy through this crisis.”

He was speaking, of course, about the outbreak of COVID-19 and its impact on the various industries of Britain.

The Chancellor continued: “I am extending this business rates holiday to all businesses in those sectors, irrespective of their rateable value.

“That means every single shop, pub, theatre, music venue and restaurant and any other business in the retail, hospitality or leisure sector, will pay no business rates whatsoever for 12 months.”

This was music to the ears of the gambling industry, which assumed it would be included in the leisure sector category.

Yet this did not prove the case. The Treasury decided to exclude casinos, bingo halls and betting shops from the 100% business rates holiday, classifying them as ‘financial services’ as opposed to leisure.

On Thursday, this prompted the Betting and Gaming Council (BGC) to condemn the decision in an open letter addressed to the Chancellor.

The BGC, which acts as the single industry association for betting and gaming in the UK, described the decision as “frankly bizarre,” given gambling businesses would be listed on the London Stock Exchange as part of the leisure industry.

While these are unprecedented times, it is difficult not to speculate at ulterior motives for this resolution, particularly when the industry generates more than £3bn ($3.91bn) in annual taxation for the Government choosing not to support it.

Throughout 2019, negative coverage of the industry in the mainstream press seemed to be at an all-time-high and this only increased pressure on the Government to introduce tighter regulation.

As a result of this pressure, the Conservative government re-elected at the end of the year pledged to review the Gambling Act 2005, which it said was “increasingly becoming an analogue law in a digital age.”

In addition, and perhaps as a result, public trust of the gambling industry hit an all-time low. In a 2019 UK gambling report released by the Gambling Commission, trust in the industry was down, with 43% of participants associating gambling with crime, up 5% from 2018, and 29% believing gambling to be fair and trustworthy, down 1% at 29%.

When we consider the UK Government and mainstream media’s treatment of the industry over the past year, it would be amiss not to consider that the Treasury’s refusal to provide aid to the industry could be rooted in a desire to appeal to this same mentality – perhaps the Government doesn’t want to be seen assisting an industry struggling to relinquish a negative image.

Gambling consultant Steve Donoghue certainly makes a compelling argument that this might be the case. Speaking with Gambling Insider, he explains why he is unconvinced that the decision to exclude the retail gambling industry is based on any archaic categorisation.

He said: “Under the Town and Country Planning (Use Classes) Order 1987, betting shops were class A2 which included financial and professional services other than health or medical services.

“But this ended with the Town and Country Planning (Use Classes) (Amendment) (England) Order 2015 which made them suis generis.

“Casinos and bingo halls have never been linked to financial services. So it can’t really be this.”

Last year, we saw the Government introduce a stake reduction on fixed-odds betting terminals (FOBTs) to £2 ($2.38) and undoubtedly this has had a huge impact on retail betting shops, with many forced to close their doors for good.

GVC Holdings, owner of Ladbrokes Coral, had to close down 13% of its land-based estate in 2019, and calculated it would have to close 900 of its betting shops over the next two years as a result of the maximum stake cut.

Donoghue believes that, similar to this regulation, the lack of governmental assistance during the COVID-19 pandemic will cause many gambling industry employees to lose their jobs.

He said: “The decision to ban FOBTs saw thousands of gambling industry jobs go; so why should this be any different?

“We need a Jarrow Crusade of the industry’s potential unemployed to march on Carolyn Harris MP’s offices – via BACTA’s headquarters.”

Regardless of the Government’s reasons for the exclusion, it is evident this will have a huge impact for the industry’s employees. According to BGC data, all casinos and betting shops are currently making losses, with most casinos due to close this weekend.

Nearly 7,000 high-street betting shops are also expected to close imminently due to the lack of sport and the need for social distancing. The BGC estimates that, within months, many casinos will be insolvent while betting shops will also be at risk of permanent closures; in terms of employees this represents around 64,000 jobs.

While the UK Government may not be keen to help the regulated gambling market, a lack of licensed betting shops will only see a rise in the unregulated black market, which as the BGC says is “not only an unsafe place for people to bet, but also contributes nothing to the Exchequer or the country.”

At times like this, it is important the country pulls together and protects the industries which cannot protect themselves – of which the retail gambling industry is certainly one.

Popular opinon can be left by the wayside, while the needs of UK businesses and their thousands of employees must not be forgotten.

RELATED TAGS: Online | Land-Based | Industry | Sports Betting | Financial | Bingo | Casino | Feature

The Role of Blockchain in the Gambling Industry

Cryptocurrencies and the blockchain technology have become a worldwide phenomenon. Something which had started as merely an idea, a concept, has quickly gained momentum and acquired a global stature, so much so that it is now difficult to imagine a world without them. The blockchain network has taken over almost every sector of the world; however, the casino is that one sector that is only moving towards a more blockchain-oriented approach. 

The blockchain network brings with it a plethora of perks that can be made use of when applied optimally. Therefore, it does not require spelling out that casinos and the gambling industry can benefit largely by adopting blockchain holistically in their functioning.           

The article endeavors to look into how the casino industry could make use of the technological marvel of blockchain and use its features to not only take a step forward into the fast-paced technology, but also tweak its security. 

Blockchain Shall Increase Transparency:

The primary use of the blockchain is to elevate the levels of transparency in any system that it is a part of. Whatever data of transaction flows into the chain remains completely transparent for people to access (with permission) and acquire a clear picture if need be. Therefore, casinos can assure its loyal customers more transparency in dealings and transactions when they adopt a more blockchain-based approach. Online casinos like www.onlinegamblingcalifornia.com, could especially make use of this approach to ensure cyber-security of their players. 

Transactions Using the Blockchain Shall Be Immutable:

One of the most essential features of the blockchain network is that it is an immutable system. Whatever data flows through it, becomes and remains immutable at once. There cannot be tampering of any kind which thus, results in astonishing levels of security in the entire domain. Players can rest assured that they are not being manipulated or cheated upon with their hard-earned money. With the immutability in the entire system of casinos, there cannot be any money laundering or fraudulent activities. 

Integrating Blockchain With the Casino Industry Shall Lend Anonymity to Players:

Blockchain lends anonymity to people who are a part of any transaction. Therefore, integrating the technology of blockchain with the casino industry shall lend anonymity to the players who would not want their identities to be revealed to others. The chain is completely safe and entirely secure. If players are too conscious about their identities being revealed and want to keep it a secret, adopting blockchain into the fore of gambling can resolve the issue.    

        

Blockchain Shall Lend Data Security and Safety:

Casinos that integrate the technology of the blockchain can benefit largely from its feature of lending security to data. The data that we are talking about can be that of the players or the trade secrets of the house itself. But whatever the case is, casinos can protect its valuable data from leaking or being breached with the help of the blockchain technology. This way, the identity and all the sensitive information of users stay safe and miles away from theft. 

Conclusion:

The casino is a massive industry and has its fair share of contribution to the economy. It thus, shall not do well for the industry to stay aloof and distant from a technology that has become something sort of integral to almost every domain. It is impossible to keep the blockchain network out of our collective lives because of the features it comes with. Casinos can benefit significantly by integrating blockchain with its functioning, and therefore, it is probably time for the industry to move towards a more blockchain-based approach slowly. It shall only enhance the security and the protection of data and provide the industry more insulation from cyber threats of sorts.