Cyprus Internet Gambling Law Bad
It is allowed in Atlantic City to wager at a land-based casinos but not at online venues. In Florida, patrons can play blackjack at a casino, except craps and roulette which could not be played. Kentucky permits horse race betting, but disallows casinos. We’ve only named some of the double standards that exist nowadays whilst dealing with gambling issues.
Cyprus is on the verge of joining other duplicitous jurisdictions that offer some variants of gambling but not others. Deputy Government Spokesman, Christos Christofides recently announced a new piece of legislation that will outlaw gambling online, whilst sports betting and lottery gambling will stay legal under the new law.
“The above is yet another example on how governments take common sense out of the gambling issue,” said Gaming Analyst Steve Schwartz. “Virtually every government strives to distinguish between the various forms of gambling. In reality gambling is gambling and no format …
Betfair Exits UK Gaming Market
The latest internet casino to leave the United Kingdom because of its exorbitant 15% gross profit tax rate is Betfair. It has decided to move offshore and will save approximately £20m per annum, during its third quarter result this morning its chief executive made this announcement.
As of tomorrow Betfair will be operating under a Gibraltar gaming licence following in its rivals’ footsteps the likes of Ladbrokes and William Hill. Both these gambling operators recently publicized by exiting the UK market a few years ago they saved millions of pounds.
David Yu who is the CEO of Betfair made no secret to move Betfair’s operation abroad. It opened in October last year a new Dublin office to house its data centre and telebetting internet casinos. Back then it already warned the UK government to lower its tax rates on horseracing and various other internet casinos. The UK government is busy scrutinising its current tax …
Bill Vetoed By Governor Christie
The sad news for internet gamblers is that Governor Chris Christie has vetoed the New Jersey gambling bill.
To be honest we are not surprised in the least, since many experts within the industry have predicted this. To add insult to injury, Christie has further political aspirations by running for presidential candidate in the next U.S election. The net result is, he does not want to tarnish his reputation with voters at this point in time.
Initially Governor Christie praised the bill’s intent-at the end it was all a smoke screen although he said that he supported the New Jersey gambling bill. The reason why he vetoed the bill is that the New Jersey’s constitution dictates that operators must be restricted to the territorial limits of Atlantic City.
The internet gambling bill S490 aimed to permit all residents of New Jersey to gamble online. The S490 requires that the servers of …
US States Decide Gaming Future
The future of internet gambling is to be decided in the state of New Jersey on Thursday. Whatever the outcome may be and if Governor Chris Christie does not sign, other states in America are lining up to legalize and regulate it. Florida might impose legislation that will to a degree permit internet gambling, while Virginia will outlaw it entirely.
Florida has been eyeing internet poker for a while now. According to the Daytona Beach News Journal intrastate internet poker may well be legalized on the 1st of July 1, 2011. Given the current state of the economy in the U.S legislators aim to raise taxes from internet casinos to plug the budget deficit of $4 billion.
The bill has already been proposed by the state Representative Democrat who hails from Washington, Joseph Abruzzo. Abruzzo informed the Daytona Beach News Journal, “Our aim is to regulate and to legalize it …
Big Week Internet Gambling New Jersey
Governor Chris Christie has been the recipient of flack recently when it comes to the proposed online gambling bill. This coming Thursday Christie will make his decision on it. As a result millions of people in favour of gambling over the internet will be holding their breath.
Internet gambling’s future, if permitted in the State of New Jersey will soon catch on and might spread to the rest of the United States. That’s if Christie agrees to sign the bill. Many states in the U.S are already following suit and once New Jersey finalizes their laws, potentially it might cause a wave of internet gambling legislation across the country.
“The moment the first state regulates online gambling, it will spread like wild fire all over the nation much like what happened with the land-based casinos during the past ten years,” Gaming Analyst Steve Schwartz, said. “It stands to reason that …
Stats Rank Interactive And Danske Spil
A surge in growth from internet casinos and meccabingo.com is the reason for Rank Interactive’s record 25% increase in proceeds for eight weeks running ended February the 20th. The news follows the publication that the internet arm of Rank Group experienced an increase in revenue by £6.9m for the year ended 31 December 2010.
This is prior to adjustments for free bets, promotions and player bonuses. On the whole group revenue for Rank, including bingo halls, internet casinos as well as its interactive arm, increased by £27.8m for the year ended 31 December, during this period 2.9% of players both wagered online and offline.
Danske Spil experienced a profit surge by DKK52m (£5.97m) for two years straight after a profitable World Cup boosted its figures for the year ending 31st December. Revenue for the Danish monopoly increased by DKK68m to DKK10, 203m, DKK8, 489m came from Danske Spil and the balance …
William Hill Cannot Manage Playtech
Its inability to properly manage its joint venture partner Playtech has been earmarked as William Hill’s biggest blunder for the year so far, Britain’s largest bookmaker revealed today.
This news just comes off the back after William Hill took out a court injunction against its partner to protect itself against Playtech forging a comparable deal with its main competitor Ladbrokes. William Hill in a recent interview said it will stay the course and remained “dedicated” to its present joint venture with the software provider. No further details have been provided with regard to the injunction and a future court date.
In October 2008 the joint venture agreement between the two parties was concluded. Playtech retained a 29% stake in the newly created William Hill Online; Ralph Topping William Hill Online’s CEO described this deal as “transformational” at the time. Since then William Hill’s internet player base increased considerably and it reaped massive …
Sportingbet Enters Greece And Spain
It is official. Sportingbet applied for licences in Greece and Spain aiming to hang on to its position within these respective markets. Many see it as a smart move towards a dot.country business model.
Following the operator’s first half and Q2 results for the three months to 31 January publication earlier today, Andy McIver told said that Sportingbet aims to maintain its position as market leader in those markets the moment regulatory processes are concluded later this year. In spite of the two European countries struggling economically they are among the listed company’s core markets in tandem with Australia. Greece is responsible for 15% of Sportingbet’s net gaming revenue.
“We have not exited the Australian market since it regulation in 2008. We have always been the market leader and we will certainly still be in future,” he said. “Regulation in Greece and Spain is on the cards within a very short …
888 and Betfair Misleading Advertisements
The latest 888.com television advertisement and a Betfair internet e-mail promotion campaign were investigated by the Advertising Standards Agency (ASA) and both were found to ambiguous. Both these internet casinos were informed not to show these offending adverts again since it left their players confused and disgruntled.
888. com’s advert guaranteed players the following; “£8,888,888 could be yours, only at 888.com. Receive eight spins completely free. No deposit. No charge,” save for 888.com never informed players that they had to wager a fixed amount of cash before they could withdraw their winnings, the ASA found. Since then it has received one complaint.
In total Betfair has received ten complaints subsequent an e-mail outlining its ‘Happy Hour’ promotion as well as a 50% reload bonus advertised on its website. Two players complained the moment their happy hour bonuses were taken away. Seven more players complained pertaining to the reload bonus- one …
William Hill Online Secures Injunction Against Playtech
William Hill Online just received a court sanction against Playtech its joint venture partner. The company aims to safeguard its rights subsequent rumours that the software supplier had possible amalgamation talks with competitor Ladbrokes. In a statement released earlier today Britain’s principal bookmaker said it “had to secure a temporary ban against Playtech to ensure that its legal rights under the William Hill Online joint venture agreements were honoured”.
“Playtech just initiated talks with William Hill looking for possible amendments to its current William Hill Online joint venture agreements. The press speculated that there were discussions going on between Playtech and Ladbrokes plc,” the statement further pointed out.
According to the source the injunction effectively prohibits Playtech from selling any of its casino software to Ladbrokes and prevents it from streamlining its original joint venture agreement that could facilitate them to work with its main UK competitor (Ladbrokes). The source said that …