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Platforms were generally constructed for one person operating one account, rather than trading organisations requiring separate permissions and controls. According to Gonzalez, some teams still share a single login.

“Whether it’s a 10-person or 100-person fund, they log in through the same Google email and share the same login credentials, which makes no sense,” he said.

ParlayX is developing individual logins, delegated permissions and subaccounts for such teams. Other gaps include unified execution across exchanges, prime brokerage and common resolution standards.

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Lottomatica generated revenue of €2.26 billion in its FY2025, while Cirsa’s FY2025 group revenue reached €2.34 billion.

The combined company would overtake the likes of Bally’s Intralot, Entain and Allwyn to become the second-largest listed global operator, behind only Flutter Entertainment in terms of combined adjusted EBITDA.

Some 80% of its EBITDA is expected to come from Italy and Spain, with 97% of its total EBITDA coming from markets in which it is the market leader.

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In July last year, Veikkaus iGaming EVP Jarkko Nordlund told iGB: “The competition will be fierce when the market opens, so we must be very competitive. Our aim is to challenge the mentality of our current position, so we need to secure market leadership.” 

According to its interim report for the first half of 2026, released this week, Veikkaus reported a 1% yearly increase in sales revenue of €471.3 million ($546.8 million).

Operating profit rose to €227.7 million, up from €220.6 million, while profit for the period reached €234.2 million, compared to €229.6 million a year earlier.