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“When we talk about localisation, we’re not talking about the language or doing a game about Machu Picchu,” he tells iGB. “We’re talking about taking the effort to understand what the history of those players is, what they’re used to.
“I always found it funny when Colombia was starting, operators were saying ‘players here do not like slots’, as if they have a different DNA. Five years later, they would say, ‘well, they do like slots, but simple slots’. And five years later, they were playing all the usual [slots]. It’s not that they didn’t like slots.
“If someone takes the time to understand what they’re used to playing, what they like, what their history is and take that into consideration, then you can bridge that gap. If operators take that time to understand where players are at, it does make a difference.”
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If Bernstein’s $10 trillion prediction market turnover forecast is realized or exceeded, it’d likely prove significant in revenue terms because the research firm previously estimated that $1 trillion in yearly activity could generate as much as $10.8 billion in revenue for operators.
As has been widely documented, sports event contracts are currently the lifeblood of the prediction market industry, but Bernstein notes that won’t be the case on a permanent basis. In fact, the research firm estimates that sports derivatives’ share of industry volume will decline to 35% in 2035, indicating that the aforementioned volume increase will be led by other categories.
The research firm estimates that by 2035, financial derivatives, including event contracts linked to commodities, cryptocurrencies and stocks, will account for 49% of turnover on yes/no exchanges, topping sports to become the largest volume driver. The research firm sees event contracts tied to key performance indicators (KPIs) leading the charge.
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The regulator noted that several operators received “additional points for attention”, indicating that while these applicants met minimum legal thresholds, the KSA expected continuous improvements in compliance practices.
In June, one of the operators, TOTO online BV, was reported for violating the ban on featuring role models in advertising materials.
This was not the first time TOTO has been in trouble with KSA. The platform was fined in 2022 for a similar endeavour – gambling advertisements that were seemingly aimed at young people.
