Posts made in November, 2017

Italian Government to levy 22% tax to all betting sites

Italian Government to levy 22% tax to all betting sites

Five years down the line after the initiation of online betting in Italy, things have been running smoothly for the government apart from criticism from several betting companies on the tax levied. Nonetheless this has not hindered the government in imposing heavy taxation to the online betting sites. This has lifted the economy of the nation going against all odds and other stakeholders who saw online betting in a negative aspect back in 2010. The set rules have been crucial for the nation in attempt to eradicate the so called match fixing and other illegal dealings which have tarnished the online betting business.

To keep up this strong fight for any irregularities, the Italian Ministry of finance as well as the national chamber of commerce has indulged in a number of rules amendments to the betting sector of the nation. The recent change has involved the initiation of a 22% levy tax to all betting sites across the nation. This new move however is scheduled to start functioning in 2016 with the aim of improving the set conditions for the sector’s commercials.

This means that Italy will have to do with the controversial tax turnover which was scheduled for 2-5% and incorporate the new 22% set on the fixed net betting income. However, the new 22% is claimed to be 2% more than the stipulated tax rates on poker services, games as well as online casino. The new incorporation will be a part of the Italian legislators bid which focuses on having a new enterprise in the market by 2016.

The Amministrazione Autonoma dei Monopoli di Stato (AAMS) has been faced by a series of critics from several European operators who have argued that the state corporation has incorporated unjust tax scheme which have been hindering the growth and provision of services to online betting operators.

The new policy of 22% tax levy will however has to go past the Chamber Committee who will approve or reject it to the corporate law. There were other changes and increases in both the amusement with prizes (AWP) as well as video lottery terminal (VLT) operators. AWP will see its tax increased to 17.5% where the payouts will go down to 70%. On the other hand, VLT will be at 5.5% up by 0.5%.

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Injuries set to end Coneygree career

Injuries set to end Coneygree career

Coneygree has been faced by a series of injuries that will prove costly to his carrer. The Cheltenham Gold Cup Hero is set to be a notable absentee during the William King George VI Chase to be held at Kempton. Furthermore, his injuries will prove costly as he may not be in a position of defending his title at Festival scheduled for March. It is not yet clear on the right time that the eight year old will resume the course. Whether this season or next season.

Coneygree was hit by an injury on Wednesday which prompted Sara Brandstock who is the wife of trainer Mark, taking him for further diagnosis. She later claimed that Coneygree will soon be back to the field but was adamant to reveal if the injuries may threaten his career or the season.

Coneygree has had several backslides which are as a result of injuries. Apparently, he picked an injury at Sandown which made him miss the Hennessy Gold Cup last month. He later returned in a 25 winning streak which showed a potential scoop of the King George. Nonetheless, his injury has curtailed all the hopes of winning the race.

His absence means Don Cossack is favorite for King George by 9-4 while Vautour lies second with 3-1. Cue Card is third on 7-2. Cue Card has been tipped as the dominant horse in Cheltenham Gold Cup with Djakadam, Don Poli, Vautour and Don Cossack following the suite. Missing of Coneygree at the Kempton will incorporate other suggestions especially the incorporation of the Smad Place; the winner of Hennessy.

The ante-post Gold Cup market in Betfair exchange had to be deferred following the news of Coneygree injuries. Before this suspension, he was 33-1 to win the championship race.

At the same time, Betway are refunding all bets placed on Coneygree. Boylesport on the other hand is refunding all single bets on Coneygree of stakes £50 or £25 on King George, Lexus Chase as well as Gold Cup placed on free bets.

The eradication of Coneygree in betting for the Gold Cup means that Vautour, Don Poli, Djakadam and Don Cossack remain on 5-1 mark favorites.

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Online betting business in Britain and Ireland gets Murdoch backing

Online betting business in Britain and Ireland gets Murdoch backing

Last Thursday, Tabcorp Holdings Limited claimed to the public that it will enter into an association with News UK with attempt to make betting in both Britain and Ireland run smoothly. The partnership will be termed as Sun Bets and will be initiated in 2016.

Under the new deal, Tabcorp will have its products made public via advertisement through Mr. Rupert Murdoch’s News UK where it has a strong fan base. The Sun newspaper will print and digitalize the property and other special events offered for waging including associate sports and racing products among them the Goals, Favorite and Dream Team FC.

The association however will relay heavily of profit maximization and sharing between the two cooperates. After the adverts are made by News UK, Tabcorp will on the other hand be willing to share its profits under the stipulated terms. The deal also has an extra clause that would see Tabcorp acquire an operational license that will be subject to the first 10 years with a higher possibility of extension depending on the performance in the market.

According to David Attenborough who is Tabcorp’s Managing Director and CEO, the deal between Tabcorp and News UK will be crucial for the new focus on the A$7 billion in the UK online betting markets based in UK and Ireland. The attraction of more clients in eminent as he claimed that the highest number of readers that The Sun has believed to be more than 10 million. Out of these, more than 1 million are football fanatics who will definitely engage in The Sun Dream Team FC fantasy football event.

He concluded by saying that the deal will enable his firm be the best online bookmaker in the UK market as well as helping them attain their strategy in the close-to-close core international chances.

Consequently, News UK CEO Rebekah Brooks added that the association marks a new beginning for Tabcorp digital platform and it will be fundamental for the company as it strives to have a top-class online sports book. With both The Sun and Dream Team fantasy football having a cemented fan base, there is a high guaranteed possibility that Sun Bets will have an established roots in the online betting industry.

The Australian based Tabcorp is among the top 100 public firms with top tight security to both its assets and those of its clients. It is among the largest operators in terms of revenue gunned. Both The Sun of Britain and Irish Sun in Ireland will be the most efficient channel for advertising products and services offered by Tabcorp.

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Betting firms to be keen on Responsible Betting Trust funding

Betting firms to be keen on Responsible Betting Trust funding

UK’s Minister for Sport Tracey Crouch has claimed that he will not tolerate any sort of illegal gambling and other related actions to the gambling industry. He spoke during the Responsible Gambling Trust which was held for the third year since it was launched. The conference took place at the King’s Fund in London. Mr. Crouch claimed that he was for the good work that has been for long portrayed and put into practice by RGT and the betting industry who have worked closely with the government in attempt to eradicate illegal betting.

She claimed that all has to be put into practice in order to have a peaceful co-existence in the industry. The joining hands of the government, betting industry as well as the regulators are crucial for the eradication of any irregularities related to the industry. She continued to say the no huge part can be played by Goodwill alone as there are other aspects that needs to be put into consideration. The least amount of time the RGT takes to put in place the resources at the right place is far much better than working all alone.

She was backed up by Neil Goulden who is the chair person at Charity who urged all stake holders to embrace the desire to up their work for a better and smooth running of businesses. This included raising their willing donations to the RGT. According to RGT, the betting firms should at least give out 0.1% of their total yield which would be used to support various sectors including education, treatment as well as thesis on various ways to minimize illegal betting. The 0.1% is believed to be roughly £9 million an year. In 2014/15, the RGT received donations amounting to £6.5 million.

Goulden claimed that it is a good job done by RGSB who have devoted their efforts in coming up with various strategies of eradicating any form of harmful behaviors in the industry. It is now upon the stakeholders in the industry to come out and at least fund the organization with just 1p from their £10 in gross profit. Others have gone an extra mile in giving out more than what the organization asks which a very generous entity is.

He concluded by saying that it is upon the firms under Industry Group for Responsible Gambling to fund the RGT who will not let them down in their respective duties.

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Betway to sponsor Tie Break Tens quick-fire event

Betway to sponsor Tie Break Tens quick-fire event

Yet again, Betway has announced that it will take the responsibility of being the leading sponsor of the Tie Break Tens quick-fire tournament. This comes barely days after the firm had claimed that it would be the main sponsor of both the Fed Cup and the Davis cup.

The new event of the Tie Break Tens will be staged on the 5th day of December which will be on a Saturday. It will be held at the Royal Albert Hall. This will form a section of the 2015 Tennis Champions which will be final Tour of the ATP Champions.

Those who won’t make to the event will have a privilege of watching it live this Saturday on the Sky Sports 3 as from 6pm GMT. This year’s Tie Break Tens will have famous faces with Tim Henman who once held the number one spot in British as well Wimbledon favorite. He will be accompanied by world number 7 David Ferrer.

Players to take part in the event will have to go through qualifier stages which will be in the Championship tennis with the two best being named to feature in the exclusive finals. Of the six participants, each will be eager to scoop the top spot and walk home with a cheque worth $250,000.

The Marketing Director at Betway Antony Werkman claimed that he was proud to bring in the victorious players from the Davis Cup to the Tie Break Tens. He continued to say that the event will be amusing, full of innovations and an outstanding one. This will be a perfect tournament following their amazing success in their previous sponsorship of the Davis Cup.

On the other hand, the Tournament Director of Tie Break Tens Matthew Pryke claimed that he was happy to have sponsorship deal for their new event to be held at the Royal Albert Hall in London. This tournament will be the first of its kind and its success will boost their hopes of staging it across the globe.

He concluded by saying that the commitment which Betway has shown especially in the sporting industry would be crucial in any deal they strike with any firm.

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