Regulating the skill gaming industry in India

In the New York Times, Kamala Harris was likened to a poker player in Nate Silver's recent analysis, "I Have Been Studying Poker for Years. Kamala Harris Isn’t Bluffing." The use of "poker" in reference to Harris is a deliberate choice by Silver, one that encapsulates both her strategic acumen and her ability to navigate the high-stakes world of politics with calculated precision.

The article by Silver draws parallels between the political scene and the world of poker, a game of skill, risk, and strategy. Silver, a well-known statistician and author, explores how different elites—divided into what he calls "The River" and "The Village"—approach decision-making. The River, consisting of risk-takers like poker players, venture capitalists, and sports bettors, makes decisions based on expected value and calculated risks. In contrast, the Village, representing the East Coast expert class, tends to be more risk-averse, favouring consensus and caution.

Silver’s analogy of Harris as a poker player suggests that she embodies the River’s approach to decision-making. He implies that her political moves, particularly in the 2024 presidential race, reflect the strategic thinking and risk management that define successful poker play. The article highlights how Harris, after President Biden’s withdrawal from the race, swiftly consolidated support within the Democratic Party, securing the nomination with remarkable efficiency. This swift and decisive action is akin to a poker player who knows when to go all in, understanding that the potential rewards outweigh the risks.

Silver contrasts this with Donald Trump’s recent decisions, which he describes as being driven by emotion rather than strategy—a condition known in poker as being "on tilt." Trump’s choice of Senator JD Vance as his running mate, despite Vance’s lack of broad appeal, is seen as a gamble that may not pay off. Silver argues that Trump’s recent moves lack the calculated risk assessment that is crucial in poker and politics alike, suggesting that his overconfidence could lead to his downfall.

Harris, on the other hand, is portrayed as a player who has learned from past failures and is now leveraging her experience to make smarter, more calculated decisions. Silver points out that Harris’s 2019 primary campaign was not successful, but like many great poker players, she has used those setbacks as learning experiences. Her choice of Governor Tim Walz of Minnesota as her running mate, though initially seen as cautious, has proven to be a stabilising force in her campaign, reflecting her ability to balance risk and reward.

The article further explores the dynamics between the River and the Village in the broader context of American politics. Silver notes that while the River has been dominant in areas like technology and finance, the Village has managed to outmanoeuvre the River in the 2024 election cycle. The Village’s decision to replace Biden with Harris is framed as a strategic move that has doubled the Democrats’ chances of winning, according to Silver’s election forecast model.

Ultimately, Silver’s use of poker as a metaphor for Harris’ political strategy serves to highlight her ability to remain calm under pressure and make decisions that are both bold and calculated. As the election progresses, Harris’s poker-playing instincts will likely be tested further, especially as she moves into the position of front-runner. The upcoming debate in Philadelphia will be a critical moment for her, as Silver suggests that she will need to resist the Village’s tendency toward complacency and continue to play her cards wisely.

Silver’s article in the New York Times offers the portrayal of Kamala Harris as a political figure who embodies the strategic, risk-taking ethos of a poker player. By framing her in this light, Silver focuses on the importance of calculated risk in politics, suggesting that Harris’s poker tactics may be her greatest asset in the race for the White House.

SiGMA East Europe Summit powered by Soft2Bet, happening in Budapest from 2 – 4 September.

The National Lottery, through its operator Allwyn, has introduced the ChangeMakers Fund, an initiative designed to empower Great Britain’s Olympic and Paralympic athletes to spearhead social impact projects in their local communities. With an allocation of ￡100,000, this fund supports athletes in developing and implementing initiatives that resonate with their personal passions and community needs. This initiative is a part of the broader ChangeMakers programme, a collaborative effort between Allwyn, UK Sport, Team GB, and ParalympicsGB, aimed at promoting grassroots sports, sustainability, mental and physical well-being, inclusivity, and other causes with strong social relevance.

The ChangeMakers Fund enables athletes who have recently showcased their talents in Paris, and those who participated in ChangeMakers Week, to extend their influence beyond the realm of sports. Through this fund, they can now channel their dedication and public influence into tangible social impact projects within their communities.

Athletes have two funding options available: the ‘Try It’ fund and the ‘Scale It’ fund. The ‘Try It’ fund is designed for athletes who have fresh, innovative ideas for social impact but need to test their viability. In contrast, the ‘Scale It’ fund is for those who already have established initiatives but require additional resources to expand their reach. This two-tiered approach ensures that both emerging and existing projects receive the appropriate support to succeed.

Allwyn, alongside UK Sport, Team GB, and ParalympicsGB, recognises the deep commitment these athletes have to giving back to their communities. The ChangeMakers Fund is structured to support causes that are meaningful to the athletes, whether that means enhancing health and well-being, advancing equality and inclusion, or promoting environmental sustainability.

Andria Vidler, CEO of Allwyn, (pictured above) spoke about the importance of the fund, stating, “After an incredible Olympic Games, and with the Paralympics still to come, we are excited to open our ChangeMakers Fund. By tapping into these athletes’ passions and their power to inspire, we hope this funding will help them drive positive change in their communities and build on the amazing legacy of Paris 2024.”

Sally Munday, CEO of UK Sport, also highlighted the broader societal impact of the National Lottery, which raises an average of ￡30 million weekly for various projects across the UK. She said that the ￡1 million annual Allwyn Social Value Fund is specifically designed to support and enhance these community-driven initiatives, ensuring that the positive social impact of the National Lottery continues to expand.

Allwyn, known for its innovative approach to gaming and its commitment to social impact, said in a statement that the ChangeMakers Fund, represents a crucial initiative to support athletes to drive community development and social change.

SiGMA East Europe?Summit powered by Soft2Bet, happening in Budapest from 2 – 4 September.

The UK Gambling Commission’s leadership team, including Deputy Chief Executive Sarah Gardner and Chief Executive Andrew Rhodes, recently visited low-stake gambling and seaside arcade venues. This initiative, part of an ongoing dialogue with the industry, was hosted by the British Amusement Catering Trade Association (Bacta).

Bacta President John Bollom (photo above on the right), led the delegation, emphasizing the industry’s commitment to safer gambling and its economic contributions. He expressed optimism about the alignment between the Gambling Commission and industry stakeholders, particularly regarding the recommendations in the recent White Paper on gambling reforms. “I believe that Bacta and the Commission agree on the key topics of the day, not least the importance of moving forward with the White Paper recommendations, which both our organizations have worked so long and hard to complete,” Bollom stated.

The tour included visits to two contrasting venues: the Admiral Adult Gaming Centre (AGC) in Southampton and the Mumbles Pier in south Wales. Bollom highlighted the economic contributions of these venues and their role in regional tourism. “With the support of Novomatic’s Elizabeth Speed and Neil Finch, who serves as Regional Operations Manager at Admiral, we were able to highlight both the economic importance of high street AGCs and exactly how high they set the bar in terms of delivering a safe and socially responsible experience, whilst contributing to the much-needed vitality of town centres,” Bollom said.

In south Wales, the focus shifted to Mumbles Pier, where Bollom stressed the dependence of the historic structure on the income generated by its family entertainment center (FEC) arcade. “Without the 100+ machines, the business model would no longer be viable,” he explained.

Andrew Rhodes, the Gambling Commission’s Chief Executive, shared his reflections on the visit via LinkedIn. “A good two days with colleagues from the Gambling Commission visiting operators and industry sectors in south Wales,” Rhodes posted. “It was nice to have mostly good weather to see things at their best and spend time with industry stakeholders and people working in the front line of the business..

The importance of collaboration between regulatory bodies and industry stakeholders to ensure safer gambling practices and support local economies is of paramount importance. The alignment on key issues, such as the implementation of the White Paper recommendations, is showing a shared commitment to advancing the industry’s standards and contributing to community well-being.

SiGMA East Europe?Summit powered by Soft2Bet, happening in Budapest from 2 – 4 September.

Evoke (EVOK), formerly 888 Holdings, has announced the acquisition of Net Gaming Solutions (NGS), a leading Romanian gambling operator, for €10 million. This strategic move positions the newly combined entity as the fourth-largest operator in Romania, with a market share of approximately 7 percent.

Under the terms of the deal, Evoke will integrate its existing Romanian operations and invest €10 million in cash to secure a 51 percent stake in the expanded business. The company plans to implement a multi-brand strategy, combining a popular local brand with a globally recognized casino brand.

The acquisition aligns with Evoke's strategy of establishing sustainable, market-leading positions in high-growth markets through low-capital, high-impact mergers and acquisitions. CEO Per Widerstrom expressed enthusiasm about the deal, noting its potential to drive profitable growth and increase market share in Romania.

Evoke's shareholders responded positively to the news, with the stock rising 2.8 percent to 70.98p in early trading. Despite a recent profit warning, the acquisition is expected to enhance earnings starting in 2025. The company has maintained its financial guidance for 2024, projecting second-half revenue growth of 5 percent to 9 percent and an improved EBITDA margin of 21 percent.

The transaction is expected to close in the third quarter of 2024.

SiGMA East Europe Summit powered by Soft2Bet, happening in Budapest from 2 – 4 September.