Posts Tagged "online gambling"

Client promotion by CrownBet subjected to investigation

Client promotion by CrownBet subjected to investigation

More often than not, there are a number of corruption and illegal cases that come to rise in Australian betting markets. In most cases, the illegal betting sites have found themselves colliding with law enforcements on the matter. Nonetheless, it doesn’t mean that it is only the unlicensed remote betting operators go against the law. Some licensed firms have also found themselves in a hot soup when they violate the stipulated gambling rules.

This is a case that has hit CrownBet that has been subjected to a thorough investigation by the New South Wales (NSW) gaming watchdog. The betting company has been accused of using customer’s credit in the endorsement of motivational gambling. The matter has called the authorities to undertake a research and find the truth behind it.

According to the rules stipulated by the NSW Act book, the endorsement of client credit, tickets or any other aspect which may include sign up rewards is illegal. NSW watchdog claimed that it put the matter into consideration and decided to undertake an investigation mainly on the new campaign by the AFL and CrownBet NRL which goes by the title “The Game Just Changed”.

The main antagonism comes as the two advertising firm as have decided to incorporate terms that claim that each time a client places his or her bet, he or she is accorded with the CrownBet reward points that can only be redeemed at the Crown Resorts. The words further claims that in the modern world, none of these aspects have ever been introduced anywhere apart from CrownBet sites. The client should rush and register to initiate cash flow.

Reports from the Australian news have indicated that these vocabularies used in the advert by CrownBet have violated the present advertising standards stipulated by the NSW as well as The Office of Liquor, Gaming & Racing. The betting firm has decided to remain calm and failed to respond to any question raised on the investigation topic.

This investigation comes after various betting firms and other stakeholders advocated for the review of the 2001 Online Gambling Act. The redrafting of these betting policies will be fundamental in keeping the advancements in technology moving upwards as well as incorporation of fresh digital consumer behaviors.

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PWC has been tasked with the duty of investigating on behavioral patterns in betting

PWC has been tasked with the duty of investigating on behavioral patterns in betting

PWC has been mandated by the Responsible Gambling Trust (RGT) to conduct an investigation on the behavioral patterns of the remote betting areas. The PWC will incorporate its investigation in a two phase segment in conduct of the undercover research on whether these remote betting sites are undertaking illegal gambling. This is in response to the customer’s attitude towards betting machines that were licensed by the RGT back in December 2014.

The initial phase will involve PWC indulging in a thorough research on the existence of the remote betting sites and together with Canada’s Responsible Gambling Council will try to eradicate any harm emanating from these betting sites. The second phase of the research involves analyzing their industrial data as well as control system and come up with a proper way in recommending the various ways to be incorporated in attempt to reduce illegal betting in these sites.

RGT announced the tender in March 2015 and after a stressful selection process, PWC was chosen among the best for the job. After eight months of the research, PWC will table its final results to the RGT.

The Chief Executive of the Responsible Gambling Trust, Marc Etches claimed that the main aim of initiating this research process was not only coming up with a clear understanding of behavior portrayed by players but also make much impact in the development of the industry as well as reducing illegal betting cases. He added that the vigor selection process has seen PWC scooping the investigation tender and believed that the company would perform to the very best in coming up with solutions that would minimize if not eradicating any form of illegal betting in these remote betting sites.

At the same time, PwC Partner and Gaming Leader David Trunkfield claimed that he was happy to work closely with RTG in not only partnering in business but also doing something that would change people’s purpose and habits as far as betting is concerned. He continued to claim that his company was ready for the task ahead and would incorporate a data led approach that would in turn bring practical recommendations that would reduce any harm caused by these remote gambling sites.

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ECJ delays its investigation on Germany’s online sport betting

ECJ delays its investigation on Germany’s online sport betting

It was reportedly reported that the investigation that was developed by the Hesse Ministry of Interior and Sports (HMDIS) to the regulations of the Germany online sport betting seems to have hit a rock after they were scheduled for a later time. The investigation was to be undertaken by European Court of Justice Authorities (ECJ).

Many betting firms have been hiding behind authority’s rules and regulations and avoid heavy taxation which they claim would not be crucial for their profit making. Other land based operators have indulged in illegal betting in maximizing their profits. However how these acts are against the law, it has taken the efforts of the law enforcements in fighting off these illegal acts. It has been claimed that huge sums of money have been gained through illegal betting.

It was claimed that the investigation conducted by the ECJ had come up with verdict that several online betting firms should be stripped off their licenses while others had not fulfilled the requirements to be awarded licenses. The verdict was to be made public at the middle of September but this seems to have not be the case.

Lately, the ECJ claimed that it wouldn’t rush into its final conclusion concerning the issue and would extend its D-Day by a full month up to the 22nd day of October. It is also claimed that the main reason for this delay would be attributed to the fact that both the EU and Industry insiders had not received an official decision from the ECJ and this would continue if a clear statement is not delivered.

It is not yet clear if the HMDIS framework will be adopted by the end of 2015. As a result several shareholders have been left in darkness as they are not sure if German online sports betting will be guaranteed its operations as other operators are not sure if they would reapply a new license.

Criticism have been raised all across the year on the operations of the HMDIS regulatory body. It all started in the Q1 of 2015 when the body claimed to issue 20 operators with licenses, however, this sparked critics towards the government which was accused of segregating few operators in the awarding of the licenses.

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Online gambling firm GVC sweetens bid for rival Bwin.party

Online gambling firm GVC sweetens bid for rival Bwin.party

It was reported that 888 an online casino and a poker company that operates under the management of two Israel brothers Aaron and Avi Shaked gave out a total believed to be nearly $1.4 billion to Bwin. However, 888 has recently faced a stiff competition from GVC Holdings Plc. an online betting company that has risen the bid of acquiring the Bwin.party Digital entertainment to $1.55 billion.

Bwin who allegedly puts itself on sale last year was first involved in a deal with 888 online casino and betting firm who gave out 900 million pounds to acquire Bwin’s stock at the beginning of the month.

This deal was placed in the M&A activity in the market and this is expected to be a routine as various companies tend to expand themselves as a way to increase their chances of funding their technology and markets.

GVC has overdone 88 as the firm offers 122.5 pence each share from which 25p would be in cash form while the rest would be in GVC shares. This surpasses 888”s offer of 104.09 pence by a stunning 18%.

Reports from Bwin claimed that they were putting into consideration the new offer that was tabled by GVC and would make an official statement soon. Its selling comes after it was evident that there was a great decline in the regulated poker markets based in Europe. The company was initiated when online poker group PartyGaming and sports betting group Bwin merged in 2011.

Analysts at Panmure Gordon claimed that it would preferably for GVC to acquire the firm as stakeholders of GVC will have a 10% premium and this would be more than that offered by 888. GVC on the other hand claimed that it would push for the deal following its loan acquisition of 400-million-euro ($440 million) from Cerberus Capital together with its fresh incorporated shares. It also has a backing of Amaya Inc. its partner based in Canada which would give in 908 million pounds towards the deal.

Moreover, an additional 150 million pounds would be raised via its equity placing to an endowment reformation costs and refund the existing debt of Bwin.party. Despite it being a third of market value in comparison to Bwin, GVC believes that its cost benefits would raise up to 135 million every year come 2017. During the London Stock Exchange markets, Bwin’s share rose up by 2.3% to record at 111.1 pence while that of GVC decreased by 0.5%.

 

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Brazil Senate Approves Draft Legislation for the Licensed Sports Betting

Brazil Senate Approves Draft Legislation for the Licensed Sports Betting

The proposed draft legislation 671-2015, has been progressed by the Brazil’s senate. The legislation will see that fixed odds sports betting meet a regulatory requirement. Currently, the Brazilian gambling law permits players to gamble on land based casinos, lottery and horse racing events that are licensed.

 

Brazil is one of the potential market in Latin America for international online gambling, which has become very popular. However, the Government of Brazil has been very slow in implementing gambling laws to accommodate the changes in the industry.

 

Prior to the 2014 World cup, Senator Ciro Nogueira introduced the draft legislation, which emphasized on the need of following physical procedures by the operators seeking to join the Brazillian igaming market irrespective of their listed country of origin. This is the first draft of its kind to have a long and tedious process to meet its goal. On the other hand, other senators opposed stating that Brazil should instead focus on developing regulatory platform based on European style framework to regulate online casino games, poker and online sports betting.
From the media sources, it is evident that the draft legislation progressed because the Senate raised concerns about the popularity of online betting services being operated by remote companies. In addition to that, it came to the concern of the senate that Brazil lacked regulated provisions to curb illegal betting sites that targets the Brazilians.

 

After progressing in the senate, the draft legislation is now waiting for presidential approval. However, the full details of the betting framework and legislation is not yet known. Nonetheless, Brazil will probably begin to receive applications for licenses from foreign operators. As for now, nothing has been presented to the tax and licensing authority regarding charges on market entry.

 

Previous attempts to introduce online gambling and betting framework has drawn division of opinion on generating national policy.

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    Always bet responsibly and never gamble what you cannot afford. Here at sports-bettingsites.com we support responsible gambling. If you think that problem gambling is affecting you and/or those close to you you might want to contact gamcare and if you want to gain greater gamble awareness you can visit gambleaware.co.uk for more information.