Author: Kat Orlov

Newcomer Kat is our newcomer poker aficionado whos skill not only lives on the table but flourishes on the site as through her many sources she never fails to be the first to hear of any important or exciting poker news around the world.

Portugal’s Gambling Revenue Grows for 8th Consecutive Quarter

Posted on by Kat Orlov
  • Portugal’s gaming and sports betting revenue continues to grow in Q4 2019
  • Players spend some $941.10 million on games of chance
  • Close to 163,900 people register to bet and gamble over the period

Portugal has posted another successful quarter in Q4 2019 with online gambling revenue climbing to a new high and reaching $72.3 million over the period. The national regulator, Serviço Regulação e Inspeção de Jogos do Turismo de Portugal (SRIJ), reported growth across all main online gambling segments consolidating the country’s position as a developing iGaming market.

Sports Betting Continues to Drive Market Growth

In terms of comparing results year-over-year, Portugal managed to pull 52.1% more in pure revenue in the three months leading up to December 31, 2019. Not only that, but Q4 2019 was also the eight quarter in which the country’s market had only grown without showing any signs of slowing down.

Part of the positive development was also occasioned by sports gambling, which reached $36.88 million, or another 55.0% uptick compared to the same period a year before. Portuguese gamblers put down some $204.63 million in total bets, pushing the results up 67.5% year-over-year.

Football and basketball were the main drivers of sports betting interest in the country with both segments posting some significant improvement. Football, for example, had soared up by 74.6% more wagers compared to Q4 2018. In the meantime, Portugal has also been revving up its efforts to clamp down on illegal gambling.

Casino Products Make Steady Expansion Efforts

iGaming products also contributed a fair bit, pushing the total number of wagers placed up 49.1.% year-over-year. Specifically, players spent$941.10 million on online gambling revenue in the last three months of the year, marking another significant progress or 47.9%.

Slots topped these developments with some 69.0% of all money placed on casino products going in the way of slots over the quarter. Interestingly French roulette was the second most played game, with some 13.6% of the wagers going its way.

This indicates a maturity among Portuguese gamblers who are well aware of the inherent advantages of the game as one of the best-paying versions of roulette. Third came poker, with a 9.4% share of the market.

Poker has been a rather popular pastime in Portugal especially now that PokerStars has been part of the available options since 2016. Not only that, but Portugal is also sharing liquidity with other countries to boost the overall prize pool available for poker tournaments, something that places such as the United States still lack.

The Scope of the Portuguese Market – 12 Operators Active

Presently, the country has 12 approved gaming and betting operators that are active and hold multiple skins. The total number of licenses issued is 20 and the majority of those – 11 – are allocated to games of chances, such as the ones offered at casinos.

In the quarter, some 390,400 people placed a wager online, marking another increase. Estimated 163,900 new registration were made in the country during the fourth quarter of 2019.

Kat Orlov

Newcomer Kat is our newcomer poker aficionado whos skill not only lives on the table but flourishes on the site as through her many sources she never fails to be the first to hear of any important or exciting poker news around the world.

Michigan Sports Betting Bill Passed into Law December 20

Posted on by Kat Orlov

Online sports betting bill was officially passed into last Friday, December 20 after governor Gretchen Whitmer signed the bill. As a result three commercial and 23 native american casinos are now legally allowed to offer sports betting at their premises as well as online, pending licensure.

The New Law Legalizes iGaming, Internet Casinos and Fantasy Sports

Under the new law, Michigan will not only provide sports betting companies that will come to operate in the state in the future with licenses but also will legalize those who already have casino licenses including the tribes who have already been running their casinos.

Before betting begins, however, state regulators still have to provide strict requirements regarding offering sports betting in the state.

Michigan went a bumpy road before approving the sports betting legalization thus joining the group of the 20 states in the country offering legal sports betting.

Yet, it is important to note that the legislative commission in Michigan wouldn’t have come up with such a positive outcome for the gambling industry if the bill’s supporters haven’t changed a big part of the bills and arguments in it to. The package of regulations that was signed by governor Gretchen Whitmer includes Internet casino gambling, online poker and daily fantasy sports.

Rep. Brandt Iden, the bills’ the main sponsor who has been working on amending Michigan gambling laws for quite a long time stated that he was extremely happy that Michigan has finally modernized its gaming.

Gambling Profits to be Invested in Education

For her part, governor Whitmer said that her top priority when signing the legislation was to protect and ensure the investment of the future profits in the School Aid Fund, because according to her the students deserve leaders who treat their education as a priority.

She expressed her gratitude for the hard work and leadership of Sen. Hertel and Rep. Elizabeth Warren. She stressed one more time that the profits from gambling are going to be invested in education.

Whitmer was one of the supporters of legalizing sports betting claiming that iGaming activities needs to be regulated in the state.

In June she lobbied for a 15-percent tax and 1-million license fee. However the bill she signed is for 50,000-dollar sport betting fee for a first-time application, $100,000 for obtaining license and $50,000 per year to be paid to the state. There will also be a tax of 8.4% on adjusted gross sports betting receipts as commercial casinos might have to pay an extra city tax of 1.25% to Detroit.

Now everybody is waiting to see how long it will take to Michigan to have the regulations up and running. According to Sen. Curtis Hertel Jr. the regulations will probably become operational until March Madness.

Kat Orlov

Newcomer Kat is our newcomer poker aficionado whos skill not only lives on the table but flourishes on the site as through her many sources she never fails to be the first to hear of any important or exciting poker news around the world.

Younger Swedes Self-Exclude from Gambling

Posted on by Kat Orlov
  • Young Swedes exclude from gaming en masse
  • Voluntary exclusions are for a period determined by the customer
  • The regulator continues to warn wrongdoers about a possible license revocation

Swedish Youths Exclude from Online Gambling

At the turn of the year, Sweden legalized its online gambling industry, allowing licensed operators to start offering products in the country. Nearly half a year after the industry launched, some interesting numbers have surfaced in regards to self-exclusion.

Estimated half of all gamers are aged between 25 and 34, the latest data revealed. Spelinspektionen, the country’s gambling watchdog, posted the numbers on May 31. Along with the self-exclusion statistics, the regulator posted specific data about the state of gambling addiction in the country.

Based on Spelinspektionen data, over 35,000 today have opted into the voluntary exclusion criteria, with 40% of all participants being in the aforementioned age range. At the beginning of last month, 2,800 people rolled into the self exclusion scheme.

Sweden Curbs Its Gambling Addicts Successfully

Sweden has set an example of successfully curbing gambling addiction. After a BBC report established shortcomings in the United Kingdom’s own exclusion scheme, other countries have been wary not to replicate the mistakes of one of the largest iGaming markets in the world.

Meanwhile, the Nordic country has been using individuals’ BankID numbers to guarantee that no funds can ever be forwarded towards gambling outlets online. The exclusion scheme, Spelpaus.se,already applies to multiple verticals, including:

  • Lotteries
  • Slot games
  • Bingos

Players are allowed to exclude themselves for a period of one, three or six months. Still, there is an option allowing individuals to exclude for a custom period of time and the majority of people have opted for at least one year off the gaming grid.

All online casinos in Sweden have had to integrate Spelpaus.se as part of their license agreements. The Spelinspektionen has been very tough on wrongdoers. In Mach, Genesis Gaming and Paf Consulting were handed down stiff penalties over failure to enforce self-excluded players.

Apart from a penalty, the regulator issued a warning regarding the license of the operators. Spelinspektionen won’t hesitate to strip any wrongdoer from their privilege to operate gaming solutions in the country, the watchdog said in a statement.

No Bonuses, No Room for Addiction

Unlike other markets, Sweden doesn’t allow operators to introduce bonuses past the registration offer, which cuts operators from one of the time-tested methods to retain customers and urge them to stay on at the casinos longer.

Recently, Betway received a fine for extending additional goodies after the registration bonus, which the Spelinspektionen sanctioned accordingly. The watchdog has issued new warnings that breaking the terms and agreements of the license partnership would result in revocation of permits for wrongdoers.

Kat Orlov

Newcomer Kat is our newcomer poker aficionado whos skill not only lives on the table but flourishes on the site as through her many sources she never fails to be the first to hear of any important or exciting poker news around the world.

New Jersey Posts Record High Results in NJ for March

Posted on by Kat Orlov
  • NJ eclipses March, 2018 gaming results
  • The state’s operators double profit in March 2019
  • NJ is $250 million of hitting $1 billion in total revenue for 2019

    • New Jersey scored big on the March Madness and its iGaming segment continued to grow in the meanwhile. Not quite the first state to introduce sports betting, NJ has been able to claim a significant chunk of the betting action around the US.

    NJ Sports Betting and Gaming Revenue Grows

    New Jersey posted quite the uptick in its sports betting activities this March, notching up 34.5% better year-on-year results or $294 million. The solid increase in the activity is mostly owing to the fact that NJ introduced full-scale sports betting in May, 2018, after defeating a piece of arcane legislation designed to impede sports betting contests.

    New Jersey Chases Bigger Sports Handle in November

    Land-based casinos continued to fetch the majority of income, with the brick-and-mortar properties jumping another 15.7% this year or a total of $223.2 million. Meanwhile, other verticals, such as slots and table games also did well.

    March wasn’t all about sports betting and we saw iGaming results inch up. There was A 18.5% jump in terms of slots or $162.6 million total. Table games also went up 8.7% and reached $60.5 million.

    On its own, online gambling revenue went up the staggering 53% and netted $39.1 million, a rather impressive result altogether. Conversely, poker took a tumble in March, falling 1.6% and hit $5.6 million in total.

    The Properties That Posted Great Results in NJ

    Quite a few properties managed to post great results as a result of the overall upheaval in the market. The Golden Nugget generated 64.4% more revenue, or $14.2 million more. There was also Resorts Digital which posted over 100% in terms of improved results or $8.5 million total.

    Understandably, Borgata Hotel Casino & Spa managed to hit another $5.4 million which was a great uptick by 16.4% compared to the results in 2018. Meadowlands has managed to cash on its partnership with Paddy Power Betfair, FanDuel, well ahead of the competitors with a total of $17.6 million in revenue that month.

    DraftKings’ been trailing behind FanDuel. Resorts Digital, the official partner of the online betting platform, posted $7.2 million, which was still almost double than the February results.

    Meanwhile, New Jersey has had no trouble with notching up some pretty respectable overall profits in the first three months of 2019. Over January, February and March the state’s operators posted.

    Poker has been struggling to gain any traction, although New Jersey joined in a shared-liquidity scheme with other states in 2018. Nevada and Delaware are the other places where poker is presently legal.

    The iGaming and poker industries have been expanding. Pennsylvania is currently on hold, expecting to launch its activities in June and there are multiple other states working on passing iGaming bills.

    Sports betting continues to be the segment to win the most out of the current legal changes in the United States.

Kat Orlov

Newcomer Kat is our newcomer poker aficionado whos skill not only lives on the table but flourishes on the site as through her many sources she never fails to be the first to hear of any important or exciting poker news around the world.

Lucky Hawaiian Tourist Hits $1m Jackpot in Las Vegas

Posted on by Kat Orlov

Luck often determines the outcome of Las Vegas games and this is a fact of life.

Nevertheless, the public has a strange fascination with who exactly makes the big plays work for them. An unnamed hero managed to land the Monopoly Millionaire jackpot for St. Patrick’s Day and became the latest headline of a gamer who has managed to amass over $1 million in winnings at an instant.

  • Hawaiian tourist wins $1 million in Las Vegas
  • The player lands the Monopoly Millionaire jackpot
  • Plaza Hotel and Casino shares the news on social media

Winning Big in Las Vegas on St Patrick’s Day

An unnamed individual won over $1 million from Monopoly Millionaire playing at the Plaza Hotel and Casino during St Patrick’s Day in Las Vegas. The news was quickly picked up by social media with people sharing all throughout the day and the week to follow.

The individual had asked for anonymity and as such there wasn’t much info readily available about him or her. What’s available as information is that the person flew in from Hawaii, choosing Las Vegas as his destination for rest, fun and leisure.

Coming in, the individual headed into the Plaza Hotel and Casino and took a shot at Monopoly Millionaire, unwitting that they would be counting $1,029,529.13 in fresh earnings very soon. The casino reported that it took the player less than five minutes to secure a victory.

Luck has of course played its role, but the anonymous winner hasn’t protested against how fate had favored him. Jackpots have been a common sight in Las Vegas, with winners making headlines week in and week out.

Feeling the Luck of the Irish

The festivities surrounding St Patrick’s Day have definitely caught a lot of people in a festive mood. Even though the holiday is not as well-known around the country, St Patrick’s Day upbeat ambiance has made it so for many foreigners to readily join the party.

St Patrick's Day celebration in Caesars Casino, Las Vegas.
St Patrick’s Day celebration in Caesars Casino, Las Vegas. Photo Credit: Caesars

If there is one place where you will see a lot of St Patrick’s though, that’s Las Vegas. The gambling haven has used every opportunity to whip up excitement and make visitors slightly headier in deciding how much to stake on one of the many opportunities out there.

In the case of our Hawaiian visitor, though, luck had found him before Las Vegas could suck him in entirely.

Now, $1 million richer, this islander will remember St. Patrick’s quite fondly and while he’s unlikely to make another headline any time soon, he’s already had quite the profit to take home indeed.

Kat Orlov

Newcomer Kat is our newcomer poker aficionado whos skill not only lives on the table but flourishes on the site as through her many sources she never fails to be the first to hear of any important or exciting poker news around the world.

William Hill Promises Stronger Profits by 2023

Posted on by Kat Orlov

William Hill is not giving up on pursuing double-profits by 2023 despite a most recent slump in the operator’s financial results. Not all is as it looks and William Hill is seemingly well on track to achieve the targets it has set out for itself.

Despite Losses, William Hill to Double Profits by 2023

William Hill is challenged on multiple fronts. The operator registered net loss to the tune of £721 million and had to settle some regulatory proceedings in 2018. However, William Hill is on point with achieving double profit results by 2023.

Looking at the current performance results, the operator is not far from the mark, as the losses it reported for 2018 were strictly a write-off occasioned by the reduction of FOBTs maximum stake. While UK’s model took some adjustment, William Hill has been becoming a bit of a digital pioneer in the United States, reporting excellent results on digital and mobile.

William Hill to Add Markets with Mr. Green Acquisition

The operator has already been posting solid returns in terms of revenue, managing to generate 2% higher revenue year-over-year in 2018. An expansion with the acquisition of Mr. Green has also signaled the company’s readiness to bring its profits up to $300 million by 2023.

As a reference, the US arm of the sportsbook generated solid EBITDA $48 million last year. William Hill is growing in a highly-contentious legal context. With a round of new controls introduced back at home, the United Kingdom may no longer be the gambling haven of the past years.

Operators Focusing on the United States Again

Operators are now re-aligning their offer to the United States. William Hill Chief Executive Phillip Bowcock addressed the burgeoning potential of the United States as a potential market:

This is a major new market opportunity that William Hill is very well placed to pursue as we are the US’s leading sports betting company. We aim to maintain our market leadership and intend to enter every state that regulates sports betting.

Mr. Bowcock shed more light on the difficulties that William Hill was presently facing, explaining that thee were a mix of legal and technical challenges. Deploying a large network across multiple in the United States has been an ambitious undertaking and one that would certainly take time.

Beyond this, there has also been the changing regulatory context in the United States with the reversal of the Department of Justice’s Wire Act Opinion of 2011, making the use of cross-state serves punishable by law.

Mr. Bowcock didn’t mention PASPA while reporting on the company’s latest results and future goals, which means that William Hill’s building and expansion strategy may not be contingent on the good graces of the DOJ. There has been some doubt aboutthe British top brands,

This is a good course of action as too much reliance on government regulation can easily send the value of an entire business plummeting as we have seen in recent months.

Kat Orlov

Newcomer Kat is our newcomer poker aficionado whos skill not only lives on the table but flourishes on the site as through her many sources she never fails to be the first to hear of any important or exciting poker news around the world.

UKGC to Further Step up Security Measures with ADRs

Posted on by Kat Orlov
  • UKGC plans to seek industry experts’ opinions to introduce ADRs
  • The Commission is seeking to step up the overall customer protection in the country

The UK Gambling Commission (UKGC) is tightening the control over online gambling companies. All of the recently proposed changes are sensible and for the better. Still, the UK’s governing gaming body wants to hear other opinions.

The UKGC to Consult Businesses and Experts about Planned Changes

No big change in the UK gambling climate is ever random or ill-considered. It requires a lot of coordination between business, regulators and politicians. True, the UKGC is not in the habit of always making its intents known beforehand, but it’s not trying to suffocate business either.

However, the UKGC is committed to protecting customers and that often means a rather more gung-ho approach towards bookmakers, lotteries, casinos and card rooms. So, who’s the UKGC reaching out to? Pretty much anyone with a skin in the game, including:

  • Consumers
  • Businesses
  • Industry experts

The Commission will discuss several proposed measures related to alternative dispute resolution (ADR), interaction, as well as new rules as to who can deposit & play and under what circumstances. The legal deadline to vet a customer is also going to be reduced as per the UKGC’s latest rules.

It’s Time to Add a Middleman

The Commission is actively seeking to brush up on the existing measures when it comes to handling complaints as well as introduce an ADR provider who will be able to sort through any disagreement between business and physical parties in the gambling segment.

The UKGC also wants to see operators offer other helpful tools, such as gambling blocking software, which would allow customers to completely opt out of certain gaming practices.

In the official statement the Commission released, UKGC Executive Director Paul Hope had the following to say:

We would like as many people as possible to have their say on these two consultations and the call for evidence. The proposed changes are intended to accelerate progress in protecting consumers and preventing them from experiencing gambling related harm.

The Commission recently announced another set of measures intended at tightening the security measures in the United Kingdom when it comes to gambling.

The Commission has been overhauling the existing regulation not least of all because the national self-exclusion scheme had been found to lack in certain ways, allowing customers to still bet after they had excluded themselves.

The UK Gambling Commission Recommends New Measures

“Making gambling fairer and safer is at the heart of how we regulate and better customer interaction, higher ADR standards and facilitating readily available blocking software are all part of this,” Mr. Hope added.

Toughening Legal Context This Year

The industry will undergo some significant changes this year. The Remote Gambling Duty (RGD) will go up to 21%, which is the break-line between lucrative businesses and struggling minnows.

The Fixed-Odds Betting Terminals (FOBTs) will also take a tumble down, to £2 per maximum bet in a bid to discourage people from burning life-ruining amounts of money. The measure has been welcomed by the government.

While the RGD will be changed in November, FOBTs will be re-adjusted in April.

Kat Orlov

Newcomer Kat is our newcomer poker aficionado whos skill not only lives on the table but flourishes on the site as through her many sources she never fails to be the first to hear of any important or exciting poker news around the world.

Missouri’s New Bill to Introduce Betting on River Casinos

Posted on by Kat Orlov
  • Missouri’s Senator Denny Hoskins introduces a new Senate Bill to legalize sports betting
  • As per the bill, licenses would be issued at $10,000
  • Renewal fees are at $5,000
  • Taxation is pinned at 12%

Missouri is working hard to get its own sports betting legislation up to speed. With a freshly introduced bill by Senator Denny Hoskins, the goal of introducing a ground-breaking framework is not too far from a reality.

Missouri Works on Spots Betting with SB 44

Missouri is yet another state that could potentially get its sports betting industry up to speed very quickly. Now that Senator Denny Hoskins has introduced SB 44, chances are that the legislation will clear all legal hurdles ahead of it.

The Bill proposes to bring sports betting to licensed holiday boats, drawing the idea from the famous river casinos all over the United States that are exempt from some of the toughest legal hurdles that face sports betting. The bill has quite the favorable conditions, too:

  • Initial licensing at $10,000
  • Renewal fee of $5,000 paid yearly
  • 12% in taxes along with a 2.5% administrative fee

Insofar as taxation goes, Missouri’s rates are fair but a little bit steeper than the most common rate of 10%. Overseas, the tax hits 21% in places such as the United Kingdom, but the country has a well-developed online betting industry.

New Sports Betting Opportunities for Kansas Discussed

In other words, it’s understandable why states that are only looking to start their operations normally settle on a rather low tax rate. The license fees are all rather on the low-end, too, although it must be noted that they apply only for river boats whereas places like Pennsylvania issued $10 million license packages, but they had land-based properties in mind.

Divvying Up the Funds

The Gaming Commission Fund will receive the 2.5% tax on betting receipts and 80% of that would automatically be allocated to the Veterans’ Commission Capital Improvement Trust Fund.

The Bill also expects from newly set-up operators to volunteer 0.5% of their gross amount wagered to support various facilities around the state that have to do with sports.

The voluntary tax would be required at least once a quarter with the Entertainment Facilities Infrastructure Fund taking control over the managing of these funds.

Overseeing the Industry as Intended

The Missouri Gaming Commission will be tasked with establishing control over the entire industry, both in regulating whether agencies are complaint with the provisions of the bill and ensuring that customers are safe.

Under SB 44, every citizen of Missouri would be able to opt for self-exclusion, which would allow for a state-wide protection.
Meanwhile, any operator that wants to run its gambling-related activities will have to comply with a number of criteria, including overseeing proper background checks on customers, doing due diligence and wealth assessment analysis to confirm source of wealth as well as the identity & age of customers.

Missouri currently has a list of bills that are on the wait list, including:

  • HB119
  • SB327
  • SB222
  • SB195

Things are finally looking up for Missouri and while the exact time frame is unknown, the state should be getting its own sports betting bill very soon.

Kat Orlov

Newcomer Kat is our newcomer poker aficionado whos skill not only lives on the table but flourishes on the site as through her many sources she never fails to be the first to hear of any important or exciting poker news around the world.

Bet365 and Skybet Are Inaugural Partners for Perform’s Opta

Posted on by Kat Orlov
  • Bet365 and SkyBet announced as launch partners for Perform’s new real-time data solution
  • Opta allows players to obtain important breakdown in real-time
  • Partnership to drive value for players and business

Perform, a data-driven sports betting platform, has teamed up with established bookmakers Bet365 and SkyBet to introduce its latest data service, Opta Fast Player Statistics Feed.

SkyBet and Bet365 Work with Real Data Solutions

Perform has partnered with Bet365 and SkyBet for its latest sports betting, data driven solution, Opta Fast Player Statistics Feed. Bet365’s the second-largest tax contributor in the UK, with the company’s boss being the best-paid female professional in the world.

As the name suggests, the tool will break down the game in real-time and player-by-player, going through important metrics, such as passes, shots, tackles and other sport-specific metrics.

There are two ways interested parties can access the data, the official press statement specified:

  • Partners can ingest Opta’s data directly
  • Partners can also use third-party pricing services, such as Sportcast and Bananch

Bet365 and SkyBet are the first gaming & sports betting companies to adopt Opta’s offer, signalling the platform’s potential.

Perform SVP Betting John Harlow has highlighted the inherent benefits of this solution, including:

If you’re a bettor following in-play events like shots, tackles and passes, it’s like you’re watching an entirely new game.

Goals are still the determining metric whether a team is performing well, but this is all supplemented by additional factors, such as the frequency of shots and probabilities of one team scoring over another.

Borgata to Develop $11m Betting Lounge in Atlantic City

Mr. Harlow had the following to add: “The new Opta feed has given a way for operators to create compelling new player-focussed experiences that occur throughout the 90 minutes. It’s a new level of entertainment for their customers, even throughout a 0-0 draw.”

Perform CCO Andrew Ashenden further explained that the platform would guarantee reliable data for in-play trading and betting.

Based on Mr. Ashenden and Harlow’s account, a lot of effort has gone into creating the platform, and a lot more is allocated to collecting reliable data. Both think that the industry would benefit from an innovative product that would ultimately brush up the customer experience.

SkyBet and Bet365 are two of the most recognizable names in the sports betting market. Their choice to endorse the platform would signal others to look into Opta, driving revenue for Perform.

Both SkyBet and Bet365 are committed to customer protection and providing the most detailed and accurate data possible. Inspired, another gaming company, recently renewed its existing partnership with Bet365.

Amid the tightening regulatory context at home in the United Kingdom, brushing up on the credibility of the betting data and giving customers even more ways to make fact-based decisions is a boon to bookmakers.

Kat Orlov

Newcomer Kat is our newcomer poker aficionado whos skill not only lives on the table but flourishes on the site as through her many sources she never fails to be the first to hear of any important or exciting poker news around the world.

Belgian Gaming Commission to Consider Sanctions against Betway

Posted on by Kat Orlov

The Belgian Gaming Commission (BGC) has established discrepancies and other issues with Betway, a popular UK-based bookmaker. Now, the company may be facing penalties.

  • Betway violates Belgium gaming law by registering “post-box company” in Malta
  • Journalistic investigation unable to establish the origin of $32m paid to the parent company
  • The Belgian Gaming Commission takes action against Betway

The Belgian Gaming Commission Investigates Betway

The Belgian Gaming Commission (BGC) has looked into Betway’s sources of funds as well as the company’s ownership, establishing discrepancies in the process.

Upon investigating and assessing the findings, the BGC reached a preliminary decision that Betway could be slapped with penalties for reportedly violating the Belgian government’s AML practices and tax code.

The sanctions come in light of a journalistic investigation looking into Betway’s Maltese headquarters. Several daily newspapers, including De Tijd, Knack and Le Soir looked into the issue, establishing that Betway’s HQ in Malta was in fact a “post-box company”.

William Hill to Contest Regulatory Fine in the Netherlands

The company served as a shell for another entity based in the British Virgin Islands where funds were transferred. Based on active Belgian legislation, this practice constitutes a violation of the gaming provisions, prompting the BGC to act.

Furthermore, the investigation tried to establish the origin of $32 million which was sent to Betway Limited, the parent entity, but failed during a year-long investigation, leaving serious questions into the way Betway runs business.

Admittedly, Betway has been very active in Belgium, extending partnership to various initiatives, including RSC Anderlecht, the Croky Cup, and the country’s national football club. So far, Betway has responded that the company had provided all necessary details in establishing the origin of the funds, as requested by the BGC.

Belgium’s Track Record with Gambling

Belgium is a fairly modest market for gaming operations, with regulators keeping a close watch on the industry. In 2018, the Commission investigated an unlikely culprit, the so-called loot boxes that come with certain video games.

Loot boxes are digital containers which offer various rewards to players based on a Random Generator Number algorithm. Investigating, the Commission ruled out against those and asked companies that offer these in their games, including Blizzard Entertainment, Valve, and EA Games, to withdraw loot boxes from the market.

Loot boxes are a big business across the world, as they drive some of the heftiest revenue for companies that offer them. However, legislation has been conflicting. Australia and Belgium have found loot boxes to be a form of gambling whereas the UK Gambling Commission (UKGC) has said that they are not, although this decision has never been put up for an official debate.

Betway is also involved in competitive video gaming known as esports. The company supports multiple gaming teams, including Ninjas in Pyjamas and West Ham’s esports division as well as the football club itself.

Kat Orlov

Newcomer Kat is our newcomer poker aficionado whos skill not only lives on the table but flourishes on the site as through her many sources she never fails to be the first to hear of any important or exciting poker news around the world.

ElasticSearch Network Leaked Online Casino Information, ZDNet says

Posted on by Kat Orlov
  • ZDNet and security expert identify information about 108 leaked wagers
  • The data contained identifiable details, including residential address, names, age, and account balance
  • Financial data was only partially identifiable

ElasticSearch has reportedly leaked financial information for over 108 million placed wagers, ZDNet, an online media security outlet has reported. This comes on the tail of similar events earlier in November, 2018.

ElasticSearch Fails to Protect Online Casino Players

Security media outlet ZDNet has reported the leaking of information of over 108 million bets from an online casino group, as confirmed by the newspaper’s source, Justin Paine, a security researcher.

Mr. Paine identified breaches in the ElasticSearch server security, with swathes of data left unprotected for anyone poking around to be able to obtain the stored information.

M. Paine’s investigation soon identified unsecured data from online gaming portals, most likely part of an affiliate program that casinos use to boost engagement and spread awareness of their product.

China Clamps Down on Misleading Gambling Websites

ZDNet and Mr. Paine than proceeded to analyze the URLs, leading to the conclusion that the casino(s) held licenses by the Government of Curacao, an authorized body which grants remote gaming certifications to companies around the world.

Based on the investigation, a lot of sensitive data was readily available to people who knew where to look for it, including: residence, legal names, age, e-mail addresses, IP, account balances, login information and more.

Simple extrapolation would put more people at risk as often, individuals use repetitive passwords for all their online platforms.

Financial Data Only Partially Compromised

Upon completing the investigation, the security outlet and Mr. Paine did draw one positive conclusion – the financial data was only partially compromised, leaving out enough data to conceal with fairly certainty the banking footprint of individuals.

However, having all other personal information would allow users to be exposed to various nefarious activities from third-parties. The developments highlight the risk of playing at offshore and unregulated companies.

Who’s Fault Is It?

The Government of Curacao has long been focusing only on keeping close tabs on land-based casinos, but there have been multiple calls for the company to re-focus its efforts on online gaming institutions as well.

Should proper checks have been carried out, the certified operator would have never been allowed to amass tons of sensitive data, ZDNet estimates. ElasticSearch was in the center of another security breach lately, with Cybercop posting information about 57 million people’s personal details having been leaked.

Meanwhile, the Curaçao’s Gaming Control Board (GCB) has expressed hopes that illegal gaming operators can be brought down sooner. Back in the United Kingdom the UKGC has been issuing stiff penalties to offshore online companies failing to comply with the necessary security and due diligence provisions of their licenses.

Kat Orlov

Newcomer Kat is our newcomer poker aficionado whos skill not only lives on the table but flourishes on the site as through her many sources she never fails to be the first to hear of any important or exciting poker news around the world.

Jeremy Wright Mulls Credit Card Ban for Gambling Use

Posted on by Kat Orlov
  • Jeremy Wright will talk with bookmakers and retail banks and discuss banning credit cards for gambling purposes
  • The UKGC will launch their own investigation to seek evidence about a link between gambling harm and the use of credit cards
  • The country focuses on even broader self-exclusion practices

The United Kingdom Gambling Commission (UKGC) will call for a review of a proposed measure seeking to limit the use of credit cards in gambling and betting establishments, including poker & bingo rooms and lotteries.

UKGC and Jeremy Wright Look into Credit Card Use

An important new development in the UK gambling climate has transpired. The culture secretary, Jeremy Wright, said that he was now looking into the possibility of restricting gaming-related payments made via credit cards.

Commenting on the initiative, Mr. Wright said that he would hold various meetings with bookmaker and retail banking representatives. If the measure is seen through, this would affect billions of pounds transacted as wagers every year.

Mr. Wright’s primary concern has been the growing use of credit cards in settling gaming-related transactions. According to the data presented by him and cited by the Guardian, 20% of all transactions related to gambling have been settled with the use of credit card.

The issue with this specific method of payment lies in the fact that many consumers could be tempted to play with money that they don’t actually have. As a result, the UK Gambling Commission (UKGC) has said that it would follow up on Mr. Wright’s initiative and seek evidence about the correlation between gambling harm and the use of credit harm.

The move is expected in February. A UKGC spokesperson has commented, explaining that the watchdog has been considering similar measures in the past:

In our online review last year we said we will consider prohibiting or restricting the use of credit cards and will explore the consequences of doing so.

Now that Mr. Wright is also pushing for a change, it seems only appropriate to have the UKGC look into the matter as well. Mr. Wright’s own commitment to creating a gaming industry that focuses on the consumer well-being has been quite marked.

Banks in the UK Step Up Gambling Protection Efforts

He remains one of the staunches supporters of the FOBTs reduction plan and has spearheaded the timelier changes to the maximum bets applicable to the terminals, with the stake now awaiting reduction to £2 from £100 in April.

Mr. Wright has expressed his gratitude to retail banks which agreed to allow their customers to self-exclude from certain industries, including gambling. Some of the banking bodies to have pushed ahead with the move include Barclays, Lloyds, Santander and the Royal Bank of Scotland.

Self-exclusion schemes have been also another important part of the United Kingdom’s effort to limit harmful gambling practices. One of the most popular self-exclusion schemes in the country, GamStop has been recently cited by the BBC as “flawed”, with the popular media outlet finding people who have successfully gamed the system by changing their legal names or e-mail addresses.

Kat Orlov

Newcomer Kat is our newcomer poker aficionado whos skill not only lives on the table but flourishes on the site as through her many sources she never fails to be the first to hear of any important or exciting poker news around the world.

Borgata to Develop $11m Betting Lounge in Atlantic City

Posted on by Kat Orlov
  • Borgata develops new $11m sports betting lounge in Atlantic City
  • Chief Operating Officer (COO) Marcus Glover welcomes the move
  • Borgata was the first property in New Jersey to accept sports wagers after PASPA’s defeat in May, 2018

Borgata Hotel Casino Resort & Spa will cough up $11 million for a new on-site sport betting facility, making a committed rush into the newly-regulated segment.

Borgata Enters the Sports Betting Race with $11m Upfront

New Jersey defeated the Professional and Amateur Sports Protection Act of 1992 in May, 2018. Since then, sports betting has been steadily gaining traction around the United States. While not all states are on track to get their own legalized industries, many are already joining.

Pennsylvania Grants First Sports Betting Licenses

Located in Atlantic City, NJ, Borgata benefits from the mild local regulatory climate and the high demand for sports betting opportunities. The future betting lounge, however, will not rely exclusively on individuals’ taste for placing wagers.

The facility will feature a bar as well as other amenities designed to accommodate the casual and committed punter. On the occasion of the announcement, Borgata president and Chief Operating Officer (COO), Marcus Glover, commented:

Since Borgata arrived in the Atlantic City market more than 15 years ago, we have maintained a steadfast dedication to property growth and development, with our new concept exemplifying this objective

Mr. Glover lauded the efforts of Borgata for having stayed “at the forefront of legalized sports betting in New Jersey”. The latest development plan, according the official press release, was an attempt to advance the company’s product with “an innovative gaming and entertainment experience”.

Borgata Makes History with Mobile Betting

In July, 2018, Borgata became the first casino to take a legal sports wager following the resounding success in the U.S. Supreme Court (SCOTUS), doing away with the federal betting ban PASPA. Following the approval of Governor Phil Murphy, Borgata seized the opportunity to make history.

Borgata also launched playMGM, the mobile betting platform to arrive after the freshly-regulated market. The platform was launched with the help of GVC Holdings, another giant on the U.S. sports betting market looking to gain more traction.

The solution offers much of what can be found on branded website casinos, including quick banking options, such as deposits and withdrawals.

Borgata draws on the MGM International’s experience in the sector, with MGM having been involved in various sports betting initiatives in the past 25 years, specifically in Nevada. According to the official data released in the press release, MGM sports wagers in Nevada alone reach 4 million placed units yearly and the sports handle reaches north of $1 billion. MGM has ongoing partnerships the NBA and WNBA, NHL, MLB, as well as the New York Jets.

Kat Orlov

Newcomer Kat is our newcomer poker aficionado whos skill not only lives on the table but flourishes on the site as through her many sources she never fails to be the first to hear of any important or exciting poker news around the world.

News UK Appoints James Garmston Head of Sun Racing

Posted on by Kat Orlov
  • News UK assigns James Garmston head of Sun Racing
  • Decision comes following the debacle of the joint-venture with Tabcorp
  • Garmston intends to expand sports betting clout of the brand

UK media company News UK has put a new man at the helm of the sports news brand. James Garmston will be heading the Sun Racing post.

Garmston Takes the Job at the Top

Reporting on sports is just as important for the betting industry as crunching the odds right. The information that gets to customers often sways their opinions when it comes to making an actual wager. James Garmston seems to be the right man for the job.

Known for his journalistic flair and professionalism, he’s also familiar with the ins and outs of the sports betting industry as a result of his stint at Easyodds.com where he worked as Chief Executives since 2011 before switching to Sun Racing.

Gambling Addiction Clinic To Open in Northern England

Garmston’s experience prior to his joining of Easyodds.com included a number of respected institutions, both journalistic and focusing on sports betting, including:

  • The Pres Association Sport agency
  • Institute of Physics

Garmston is also expected to help resuscitate the operations of News UK, after their gambling brand – Sun Bets, came to a ruin in the 12 months prior to Garmston’s appointment. Looking into Sun Bets up closely, the brand was launched back in 2016, borrowing its name from News UK’s sport brand The Sun and teaming up with Tabcorp to create a joint venture. On the occasion of creating the partnership, Tabcorp stated:

This partnership provides us with the opportunity to create a leading online bookmaker in the UK market under the Sun Bets brand over the coming years and fits with our strategy of pursuing close-to-core international opportunities.

At the time, the news was welcomed by News UK CEO Rebekah Brooks who said that the joint venture “marked a pivotal moment in the digital transformation of the company”.

However, Tabcorp decided to pull their support and investment from the company in June, 2018, a move that was worth nearly $50 million.

Garmston Excited at the Opportunity

Speaking to EGR, Garmston has expressed his excitement to help The Sun brand further develop their brand and help reverse the unfortunes of the past attempts to create a stable betting brand.

Many businesses today come short of the mark, as customers become cleverer when placing a bet. Some prefer to play on sure games which means that they generate a modicum of profit, but nevertheless continue to drain the finances of up-and-coming betting businesses.

Major brands usually manage to secure funding by amassing a steadfast following. Garmston’s intention seems to have the brand’s awareness in mind.

Building a brand from scratch would be difficult. News UK has made no official statements, bar the appointment of Garmston, about whether the company will actively seek to break into the sports betting segment again. Judging by Garmston’s own account, this is a distinct possibility.

Kat Orlov

Newcomer Kat is our newcomer poker aficionado whos skill not only lives on the table but flourishes on the site as through her many sources she never fails to be the first to hear of any important or exciting poker news around the world.

$250 Million Casino Proposed for Pope County

Posted on by Kat Orlov

It was recently announced that a Mississippi-based casino plans to build a $250 million complex in Pope County, something that has been subject to an almost equal measure of opposition and support. In a letter submitted to the Arkansas Racing Commission by the Gulfside Casino Partnership, outgoing Pope County Judge Jim Ed Gibson declared his support for casino gaming in the region. Gulfside, during their announcement, revealed that it has plans to build a $250 million resort casino if approved by the state’s gaming regulator – this would be done in three phases and would be completed in mid-2020. This comes just a little over a month after voters in Arkansas approved Issue 4 (currently referred to as Amendment 100) which allowed for expanded casino operations at Southland and Oaklawn as well as new casinos in Pope and Jefferson Counties.

According to Terry Green, the co-owner of Gulfside Casino Partnership, the $250 million casino project will be great for the casino will be great for the county as it will create over 1,5000 new jobs and generated millions of dollars in tax revenue once it goes live. This will greatly improve infrastructure and overall quality of life in the state.

So far, most local elected officials have been the biggest opposers of the proposed casino. Last Friday, Pope County Judge-elect Ben Cross who will be taking office today (January 1, 2019) said he was opposed to the casino being built in the county.

“It is with great discouragement and dismay to have learned of the actions of the current county judge in regards to the casino issue. To have a lame duck official act in total disregard to the express wishes of the residents of Pope County is appalling and a complete affront to our representative democracy,” Cross said in a statement.

Support from the Outgoing Mayor

On his last day in office, Russellville Mayor Randy Horton expressed his support for the proposal to build the 600-room hotel and casino in Pope County despite the strong opposition from some the residents as well as an ongoing lawsuit over another official’s support for the project. Randy Horton who lost his reelection bid joins outgoing County Judge Jim Ed Gibson in supporting the Gulfside Casino partnership which happens to have ties to a group that operates a casino on the Mississippi Gulf Coast.

During his election campaign, Mr. Horton largely dodged making a statement in regards to where he stood on the issue of the casino amendment. This presents a very interesting dynamic since Richard Harris, who defeated Horton in the election, is opposed to the casino plans. Furthermore, the residents of Pope County largely voted against the constitutional amendment expanding gambling but it was statewide approval that counted in the long run.

As per the terms of the amendment, only approval from a county judge or mayor – depending on the location that the casino developer will choose – is required for the casino application to be approved in Jefferson of Pope County.

 

Kat Orlov

Newcomer Kat is our newcomer poker aficionado whos skill not only lives on the table but flourishes on the site as through her many sources she never fails to be the first to hear of any important or exciting poker news around the world.

PokerStars Cleared from $870m Lawsuit in Kentucky

Posted on by Kat Orlov
  • Kentucky’s $870m lawsuit against PokerStars drops in Court of Appeals
  • PokerStars is cleared of guilt
  • Kentucky may yet pursue the case in the state’s Supreme Court

The Star’s Group subsidiary PokerStars has won a court case in Kentucky, with the state’s Court of Appeals dropping a $870-million lawsuit against it. Originating a decade ago, PokerStars is not yet in the clear, with the state likely to press on in the Kentucky Supreme Court. Nevertheless, it’s an important signal that the card room has a fighting chance to avoid what it considers an unfair ruling.

PokerStars in the Past – Pre-UIEGA Times

Poker wasn’t always heavily regulated against back in the past. At the onset of the industry, not many people knew what to expect nor how to address the issue. With some lawmakers not being even remotely familiar with Internet and its workings, the industry had gone unnoticed for a long while.

PokerStars was spreading, adding states and customers easily and many players from the U.S. gladly placed money on the card room and competed across multiple events. PokerStars wasn’t the only operator at the time either, with Full Tilt Poker, among others, making a landscape full of vibrant competition.

Fighting Terror and Poker at the Same Time

Then the Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006 struck ensuring that money transfers towards poker and iGaming operators were made illegal. UIEGA wasn’t a stand-alone piece of legislation, passed along with the SAFE Port Act, in a desperate move to slam the industry. At the time, respected news outlet the Economist wrote that the provisions of the legislation were “hastily tacked onto the end of unrelated legislation.”

It was Steve Bashear, the former governor, who made sure to gather all the support he could in a bid to crack down on over a hundred U.S.-facing domains, including PokerStars. What ensued was chaos, of course.

Mr. Bashear led the fight on a note that struck home with his supporters, pronouncing himself in a fight against an unregulated criminal world and citing the significance of the SAFE Port Act as a fight against terrorism on home turf.

The Long-Drawn Process

His rhetoric struck home and the legal troubles began. The case took a long while to launch, making it to a federal court in 2015, following years of bickering in the legal system. Kentucky claimed that PokerStars has inflicted damages on the state between 2006 and 2011, which the card room vehemently denied.

Kentucky’s main argument was that players have lost significant money playing at the cardroom, but then again – no such players were summoned as witnesses. It was finally on December 21, 2018 that the Court of Appeals struck down the case, offering the plaintiff a chance to proceed to the state’s Supreme Court if it wants to.

Like Father, Unlike Son

This is an interesting time to do so as Kentucky’s Attorney General, Andy Beshear, is the son of the same Steve Beshear who fought poker operators en masse. His son, though, is quite prepared to see the benefits of embracing the industry and inviting PokerStars as an official operator in the state.

Weighed down by the mounting pension fund debt, Kentucky has a lot to win from bringing a conscientious tax payer such as PokerStars on board. This is precisely what Beshear Jr. wants to achieve in what appears to be an interesting twist of events.
And yet, a battle in Kentucky’s Supreme Court could be looming.

Kat Orlov

Newcomer Kat is our newcomer poker aficionado whos skill not only lives on the table but flourishes on the site as through her many sources she never fails to be the first to hear of any important or exciting poker news around the world.

Michigan Governor to Sign and Legalize Poker, Gambling

Posted on by Kat Orlov
  • Michigan awaits the approval of Governor Rick Snyder to sign House Bill 4926 into law
  • The state will see 8% tax on the gross gaming revenue
  • Operators will pay $200,000 for five-year license
  • Michigan is most likely going to pool its prize pools with the four other states where gambling is legal

Michigan lawmakers have agreed to push ahead with the legalization of online gambling in the state. House Bill 4926 managed to clear the House after it had been amended by the Senate one last time, clearing the floor in the small hours of the morning.

Michigan Clears House Bill 4926, Online Gambling Follows

Earlier in December, Michigan saw House Bill 4926 dropped in the Senate for the first time, spearheaded by Brandt Iden, and championed by Senator Mike Kowall whose stint is nearly over. Not many people expected that the Senate would actually get to the point where they were ready to act. Even less so, nobody thought that the House would actually pass a quick vote before 2019. But they did, defying all expectations.

DOJ Could Consider Flip-Flopping on Its 2011 Decision

And now that the Senate and the House of Representatives of Michigan have both cleared the bill, all that is necessary is for Governor Rick Snyder to step up and put his signature on the document. When he does, Michigan will be joining four other states in offering poker, sports betting, and casino games online:

  • New Jersey
  • Nevada
  • Delaware
  • Pennsylvania

The House managed to pass the bill with 71 votes backing the document and 35 opposing it. With what could be called an overwhelming support, Michigan’s Gaming Board will now be tasked with exercising control over the future operators as well as settling the legal side of things.

Following the previous successes in June, 2018, this is the most significant success for the iGaming industry in Michigan.

Licensing and Distributing the Tax Money

Licenses will cost $200,000 and be issued for a five-period, with a renewal fee at the due date of $100,000. After that period, $100,000 will apply for each subsequent year. Any interested operator can apply for a variety of options, including:

  • Casino
  • Poker rooms
  • Sports betting

With an overall tax of 8% of the gaming revenue, whatever the specific activity of the operator, Michigan will apply additionally 1.25% on commercial casinos. The extra tax is described as a “municipal fee” which will go directly to the city that is hosting the casino.

As to the tax money itself, it will go to various recipients from the state:

  • Michigan itself will get 55% for its Internet Gaming Fund
  • The Compulsive Gaming Prevention Fund will get $1 million in the very least
  • The Pension and School Funds will get 5% of the gross revenue in funding money
  • 30% will go directly to improve the urban environment in the cities hosting casinos

The bill has been long debated but now it has passed, it would help Michigan join the four states already having passed such legislation. There will be a 15-month grace period during which tribal operators and commercial casinos will have to procure their licenses and prepare for a synchronized launch.

The synchronized launch will allow all operators to step into the industry with equal chances of success, rather than the state allowing individual operators to go ahead and effectively stifling competition before the activity had begun.

Kat Orlov

Newcomer Kat is our newcomer poker aficionado whos skill not only lives on the table but flourishes on the site as through her many sources she never fails to be the first to hear of any important or exciting poker news around the world.

Famous Norwegian TV Host Bags 3.4m GIG Shares

Posted on by Kat Orlov

Gaming Innovation Group (GIG), a developer of iGaming solutions, has been ordered to give up 3.4 million shares to a company owned by Hallvard Flatland, a famous TV host in Norway.

GIG’s Shares Become a TV Saga

A Norwegian court has ruled out against Gaming Innovation Group (GIG) and in favor of Hallvard Flatland, a popular TV host in Norway. In the case presented to court, M. Flatland argued that he had been promised shares in the company in exchange for services promoting brand-awareness and more, at a time when GIG has been expanding rapidly at home and across the Atlantic.

Mr. Flatland also claimed that he had been promised a seat on the Board of Directors. A Norwegian court sealed the case with a ruling during the week, supporting the claim of Mr. Flatland.

This immediately prompted a response from GIG board member Helge Nielsen who spoke to Dagens Næringsliv, a news agency, expressing the company’s surprise and stating that GIG will pursue a legal recourse and appeal the case.

According to the available information, Mr. Flatland had arranged the transfer back in 2015, with the host attending a Board of Directors meeting to negotiate his services for the company.

However, the only written account of the meeting is Mr. Flatland’s own notebook, which makes the decision of the court even more strange to begin with. The company’s legal man, Rustan Knudsen, has pointed out to the obvious lack of evidence to support Mr. Flatland’s claims.

Nevertheless, the Bergen District Court decided to award Mr. Flatland NOK 8.5 million worth of shares with GIG sentenced to transfer the shares to Euro TV, owned by Mr. Flatland, within two weeks. In addition, GIG has been ordered to pick up the legal costs for Mr. Flatland.

A Meeting that Meant Nothing

GIG have been able to confirm that a meeting between the Board of Directors and the plaintiff had taken place, but no agreement had been reached thereof. With the news that the company had been sentenced, its stock fell by 5%, but quickly jumped back with GIG releasing a very brief statement that the company would work with its legal team to challenge the sentence.

GiG disagrees with the court’s ruling and will now assess whether to appeal the judgement together with its legal advisers. – GIG

The statement also invited readers to examine the annual report for 2017 in which the company challenged the idea that Norwegian courts can produce a ruling in such cases. GIG re-iterated that no agreement had taken between the company and Mr. Flatland.

As to Mr. Flatland’s actual role helping the casino, he would have stepped in the shoes of John Carew, a retired footballer who played for the national team. In his own addresses to the press, Mr. Flatland expressed apparent regret that the matter had had to reach courts, but he said that agreements must be honored.

Should GIG have sought to settle matters, he wouldn’t have had to go to court. And while Mr. Flatland present an explanation, it’s still bizarre to believe that a court would take a personal book into consideration.

Kat Orlov

Newcomer Kat is our newcomer poker aficionado whos skill not only lives on the table but flourishes on the site as through her many sources she never fails to be the first to hear of any important or exciting poker news around the world.

Sky’s CEO Stephen van Rooyen Says TV Ads Ban Not Enough

Posted on by Kat Orlov

Sky is increasingly shaping itself up as a champion of consumer protection and anti-gambling harm champion. The company’s CEO, Stephen van Rooyen, has now said that the whistle-to-whistle ban will need to be backed by serious action from industry experts to succeed in achieving its intended goal.

Sky’s Charm Offensive

New measures are being implemented every day to help curb the number of problem gamblers on the territory on the United Kingdom, and while some remain sceptical about the effects of the proposed changes in the advertisement policy, Sky CEO Stephen van Rooyen seems determined to seek a final solution, beyond what he thinks is an ill-considered palliative.

According to Mr. van Rooyen, a whistle-to-whistle ban would not be sufficient in itself to brush up on consumer protection stands. Rather, operators will re-focus their efforts online where they can reach out to even greater audiences.

Mr. van Rooyen is de facto one of the sceptics who perceives this move as an exercise in futility. Even though the Remote Gambling Association (RGA) and its members have been championing the measure as a proof of an improving industry, the Sky’s top man is not convinced.

TV advertisement is a dying sector with bookmakers and iGaming companies scurrying off online where they can take refuge while the industry’s coming to a slow halt. According to Regulus Partners, TV advertisement accounts for only 15% of all gambling-related ads. In other words, the industry’s leaders have adapted quickly.

It’s true that limiting ads during air time would have its effects. People would be less likely to tempt themselves into placing a wager and of course – business will lose revenue, but ultimately – the levels of betting will bounce back if not strengthened by reaching new customers, courtesy of well-spread online advertisement.

If the RGA and gambling companies are serious about protecting vulnerable gamblers, then they should start by looking at where they spend the most money, what has the least level of regulation and where there is most evidence of harm: the online world. – Sky CEO Stephen van Rooyen

Mr. van Rooyen was specific in the course of action that should be pursued moving forward, explaining that instead of addressing a sector that is clearly not the main focus of the industry any more was belated and probably not really necessary.

He also explained that the focus must shift online and the government must seek to ensure that all activities are levied with the proper tax, and thus avoid depriving the state from its just share of the revenue, which can be reinvested in social causes.

Sky has already said that it would limit the gambling-related content advertisement to one slot per commercial break. Meanwhile, the online segment remains testy, as it’s regulated by the CAP Code, which basically means that advertisement can be launched before they are vetted & approved.

Underage gambling has been another serious issue in the country, with estimated 50,000 children suffering from a gambling-related problem of varying severity. The United Kingdom has a lot to do before it can guarantee the safety of all its customers, to mention nothing of those most vulnerable, and Mr. van Rooyen seems to know as much.

Kat Orlov

Newcomer Kat is our newcomer poker aficionado whos skill not only lives on the table but flourishes on the site as through her many sources she never fails to be the first to hear of any important or exciting poker news around the world.

IG Group Loses 9% Revenue on European Regulations

Posted on by Kat Orlov

Gambling regulation in Europe has been toughening up and while some companies have been eager to adapt and push ahead, others, including IG Group, have warned about the plummeting financial results occasioned by excessive restrictions.

IG Group in the Grips of Regulation

IG Group, a provider of investment services, has issued a warning against the mounting pressure that government is putting on all forms of betting, including the company’s own specialty – financial spread betting. As one of the largest entities in the world, IG Group is entitled to an opinion.

According to the latest financial data, IG Group’s six months ended on November 30 has led to an overall 6% drop in revenue. A more detailed report about the financial year ending on May 31, 2019 will be published on January 22, outlining the overall financial direction of the company in light of mounting regulation.

IG Group has been buffeted by a number of decisions and measures enacted by the European Securities and Markets Authorities (ESMA), particularly with the announcement that binary options would no longer be sold to retail customers. The decision came into effect at the beginning of July, 2018.

As a result, the first-quarter results of the fiscal year ended up 5% lower in terms of revenue compared to the same period a year before. In the period, IG Group saw a growth in the numbers of players who wanted to change their status to “professionals.”, the group specified.

Financial Betting and Dropping Shares Prices

In light of the announcement today, December 4, 2019, 7% of the share value of IG Group has been lost. However, the company is nowhere near giving up. Even a looming Brexit doesn’t seem to scare CEO June Felix.

IG Europe has just obtained a license from the Federal Financial Supervisory Authority (BaFin) in Germany, allowing it prepare itself for any upcoming disruptions occasioned by a looming Brexit. Meanwhile, the US subsidiary of the group has also been granted the go-ahead from the National Futures Association, and it can now act as a “retail foreign exchange dealer”.

Seventy-nine per cent of retail investor accounts lose money when trading spread bets and CFDs with this provider. -IGT Group

Naturally, in the context of a mounting regulation that affects not only the iGaming industry but spreads to financial spread betting, IG Group will have to find a strong foothold that allows it to withstand the ripple effects.

Some measures have already succeeded. In July, IG Group posted 32% stronger profits encompassing the 12 months leading to May, 2018. As the regulatory pressure intensifies, these results are likely to start inching downward. Even though Brexit is likely to be contained, as per Mr. Felix’s confident opinion, the company is still likely to experience some difficulties at first, which will bite into the value of its shares.

The over-the-counter clients in the period also dropped with 4,000 people fewer seeking to use the company’s products. Meanwhile, according to The Times, “seventy-nine per cent of retail investor accounts lose money when trading spread bets and CFDs with this provider,” citing a part of an official IG newsletter with the message about the number of winners demanded by regulators.

Kat Orlov

Newcomer Kat is our newcomer poker aficionado whos skill not only lives on the table but flourishes on the site as through her many sources she never fails to be the first to hear of any important or exciting poker news around the world.