The world of payments is constantly evolving and staying up to date with the latest developments can provide a significant challenge. 

However, at Payment Expert we have you covered with a breakdown of the key digits from the week’s major stories, as black market betting operators fall under the spotlight and a new agreement could provide a solution to cashless-sceptic UK consumers.

UKGC reveals British GGY of £496m in gamblng market update

UK gross gaming yield has fallen to its lowest level since November 2020 according to recent UK Gambling Commission (UKGC) figures, with a total of £496 million generated. 

Additionally, online slot and online casino experienced a decline in month-on-month online gambling wagers of 10% and 8%, with the total number of online gamblng wagers across all markets falling to a six-month low of £6.1 billion.

However, the online gambling market has recorded a 4% increase in active players to 11.3 million – attributed to interest in Euro 2020 fixtures.

DraftKings launches NFT marketplace as sector sales rise to $2.5 billion

US sports betting and fantasy sports operator DraftKings has launched its marketplace for Non-Fungible Tokens (NFT), as the market generates over $2.5 billion in sales in the first half of 2021.

Initiated in cooperation with iconic National Football League (NFL) player Tom Brady’s Autograph platform, the DraftKings Marketplace is designed to boost the mainstream accessibility of NFTs.

“Autograph’s Advisory Board includes some of the most iconic athletes ever, and we could not imagine a more fitting figure than Tom Brady to headline our first ever NFT drop on DraftKings Marketplace,” said Matt Kalish, Co-Founder and President of DraftKings.

Kroo raises £17.7m to support UK expansion

UK-based social bank Kroo has raised £17.7 million in Series A funding, as it looks to enhance its status in its home market.

The firm intends to launch an app in 2022 in order to elevate the capabilities of its team across a range of sectors.

“We want to build the world’s greatest social bank: a bank dedicated to its customers and to the world we live in,” said Andrea de Gottardo, Kroo CEO.

UK Finance details 10 year payments strategy 

UK Finance has outlined its 10 year strategy for the British payments industry as the sector evolves and adapts, publicising its Future Ready Payments 2030 report.

The group concluded that the payments industry should utilise standards to deliver benefits to payments providers, whilst also underlining the role open banking can play in the industry.

“UK Finance Although this report sets out a clear direction for the future, the work is not complete yet,” said Jana Mackintosh, Managing Director, Payments & Innovation.

“The PSSG has outlined both immediate next steps for the industry and a standing forum through which the payments industry can continue the standards dialogue. How this forum is taken forward is yet to be determined.”

AstroPay counts two million users ahead of European expansion

AstroPay has begun to launch its digital payment service in Europe, following a period of growth which has seen the company’s user numbers increase to two million.

Additionally, over 500 global merchants leverage the company’s services via a range of over 200 payment methods. 

The firm will initially offer its services to the UK, Spanish and Portuguese markets, building on feedback from clients expressing an interest in these countries.

Mikael Lijtenstein, CEO of AstroPay, remarked: “Our decision to launch in Europe is a reflection of the strength of the business, and we are thrilled to be expanding our pioneering digital payment solution to customers in Europe – starting in the UK, Spain and Portugal – which forms the next stage of our wider global expansion plans.”