Posts Tagged "poker"

Amaya merges Full Tilt &PokerStars liquidity into ‘centralised network’

Amaya merges Full Tilt &PokerStars liquidity into ‘centralised network’

Full Tilt will be joining the PokerStars platform. This is according to the announcement made by Amaya. They will be working together to create one market-leading product. The outlook for each website will remain the same but there will be a few changes here and there. According to Casino News the two famous names in poker industry will be merging together to create a gaming powerhouse on the greatest online platform internationally. This will enable Amaya development to improve both products rather than one single product.

Amaya will be able to concentrate on delivering improved features more efficiently and effectively. The CEO of the Rational Group, Rafi Ashkenazi announced that the players will be able to benefit from the wide gaming choice and bigger prize pools. He also stated that the merging will make them more agile as they focus on technological advancements. Players are expected to be transferred from subsidiary brand Full Tilt onto the merged poker network with its principal product PokerStars. This is according to Amaya Inc. players will be transferred on May 17th. This transfer will enable Full Tilt and PokerStarsto amalgamate their poker player liquidity.

Amaya governance issued a statement saying that it would bring a shared network in February. They said that this would bring about a shared network for its online poker resources which will improve corporate technology by majorly focusing on regional network. The Full Tilt migration will enable the operator make use of a single account through all its business resources; Full Tilt, PokerStars, BetStars, Duel and StarsDraft. Amaya issued a corporate statement that highlighted that players were expected to play on a single, regional network by May 17th or by the end of the 2016 Spring Championship of Online Poker which will take place from May 8th to May 22nd.

The centralized network will have Full Tilt player cash, bonuses and loyalty promotions. This is according to Amaya. Players who are not willing to upgrade their accounts have been asked to withdraw their cash before the software upgrade takes place.

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New Jersey sees a 20% rise in betting income

New Jersey sees a 20% rise in betting income

Regulated online betting in New Jersey has seen a drastic increase in the month of December as well as the whole 2015 by over 20%. A report that was released by the Division of Gaming Enforcement on Wednesday indicated that income from online operators who are licensed by the sate recorded at $14 million in December. As compared to November when the revenue stood at $13.2 million, the report indicated a 6% growth. In relation to the total revenue generated in 2015, the report indicated that there was a 30.8% rise as compared to 2014. A 39% rise on revenue in year-on-year for casino vertical read at $12 million. Nonetheless, there was a drop in the poker income down by 3.6%.

In total, income generated in 2015 alone was recorded at $148.8 million. This was a 21% rise as compared to 2014’s income. 33% rise was also evident in the total online casino in the whole 2015 to record at $125 million in comparison to the one recorded in 2014. However, there was a slight drop in the poker revenue sector by 18% to stand at $23.8 million.

As the trend has always been, Pala combo/Bwin.party/Borgata had the mammoth share of the income generated in December at $3.96 million. From this figure, poker contributed $1.1 million whereas casino brought in $2.85 million. Total revenue accrued by Borgata was at $45.7 million which was a rise from 2014’s $44.3 million. This came despite poker overseeing a drop of 17%.

Caesars Interactive Entertainment on the other hand recorded December income at $3.1 million from which $2.23 million was from casino and $874k from poker. However, a drop in the 2015 year was recorded to $32.7 million from $32.9 million in 2014. This was as a result of the drastic decline of poker income from $13.3m in 2014 to $10.7 million in 2015.

The Golden Nugget casino had total December income at $2.87. Its total yearly income rose by nearly 300% to record at $31 million in 2015 from $10.8m in 2014. This was due to their amalgamation with the Betfair New Jersey.

Tropicana casino had December income at $2.8 million with yearly income rising by 45% to record at $32.8 million. Resorts casino Hotel on the other hand had December income at $1.3 million.

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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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Sports betting promotion in Australia to be put on check

Sports betting promotion in Australia to be put on check

Several clubs such as Essendon, Western Bulldogs and St Kilda has signed a deal that would eradicate betting promotion at the clubs and during match days in attempt to curb the influence of sports wagering among football fanatics. These clubs together with North Melbourne, Collingwood, Hawthorn as well as Melbourne Victory has signed the Victorian Responsible Gambling Foundation charter that is aimed at protecting bettors from betting associated hazards.

Stipulated in the charter, no club would allow any sort of advertisement on betting across its stadium. The Responsive Gambling Awareness week starts this Monday with Serge Sardo the chief executive at VRGF claiming that over 140 clubs based in Victoria have joined the campaign.

Nonetheless, having signed the deal, it was evident that some of its members still have poker machines in their locality. For instance, last year more than $22 million was lost by bettors in Hawthorn alone. St Kilda, Bulldogs and Essendon have had poker machines too.

However, Sardo claimed that this movement was not for the eradication of betting in the state but would aim at making sure that responsible and honest betting is conducted across all betting platforms. He added that it has been evident the crossing of the line by advertisement on betting which has reached a point of destroying the livelihoods of addicted gamblers. Nonetheless, he assured that the movement will advocated for responsive gambling in the state.

Minister for Gaming and Liquor Regulation Jane Garrett claimed that there has been an increase in the amount of advertising income by $44.5 million last year to record at $149 million. She claimed that the charter would be fundamental in educating bettors, fans as well as members of the hazards that are associated with betting.

The signing of the charter is accompanied by the opposition of the Labor government who claim that it has cut down the budget by $2 million which they claimed that was a way of underfunding the foundation. Opposition gambling spokesman Russell North claimed that this move has been attributing to the cutting of funds meant to accord assistance to addicted bettors and this is a negative aspect that inflicts more risks to bettors.

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Fantasy sports betting in Hawaii to be inspected

Fantasy sports betting in Hawaii to be inspected

According to the speaker of the house Joe Souki, Fantasy leagues are form of gambling in that a player has to put in some cash and has a possible risk of losing the cash. He adds that the clarification of fantasy betting should be clarified by the lawmakers who have up to January when they convene to do so. Souki adds that with clear explanation on fantasy league, the participants have the freedom of doing their routine without any fear of being accused by others. When the house resumes, he would try to have a chat with the House leadership on the matter.

The initiation of the one day fantasy sports betting has been evident lately and many clients have signed in websites such as FanDuel.com and DraftKings.com for a taste of it. Moreover, these two firms have spent more than $31 million in advertising their services on TV.

Executive director of StopPredatoryGambling.org, Les Bernal claims that daily fantasy betting forms a base for everyday excitement whereas the seasonal fantasy sport betting is mainly played between workmates or friends.

The 2006 Unlawful Internet Gambling Enforcement Act claims that online poker games are unlawful but fantasy leagues were exempted. It was argued that in fantasy leagues, it is the player’s skill that that wins cash rather than basic luck. Nonetheless, opponents of this have called for mass action by the lawmakers on the subject.

Hawaii Attorney General Doug Chin has not made any comment on the matter and according to spokesperson Josh Wisch claiming that nothing has taken part in the AG’s office and hence it is not clear if the topic will be discussed in a near future.

There are several states among them Montana, Washington, Louisiana, Iowa as well as Arizona which have given fantasy leagues a go ahead. These states argue that fantasy league is based on opportunities but not skills.

However, Souki was adamant and claimed that he is not going to issue a notice to stop the fantasy league advertisements in TV as he claims that there are worse things such as cigarettes being advertised on the TV which are more dangerous than fantasy leagues.

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