Rumours are abuzz about Indian government’s plans to regulate online gambling in the country. Overall, gambling is prohibited in India, apart from a few jurisdictions. However, there have been recent staccato calls for legalisation of online gambling. In fact, there exists a few companies who make use of the grey area in the legality of online gambling in the country and offer their services in a surrogate manner.
The recent rumours find their origin in a 150-page long report addressed to the government from the Law Commission of India (LCI). In this report, the LCI recommends the legalisation of online gambling in a regulated manner because it observes that the government cannot practically prevent people from accessing online betting sites. The current law has no provision for this.
The LCI also points to the immense potential for tax revenue that the federal government could benefit from, should it choose to regulate online gambling. In recent statements, the Indian government have said that they are looking into the reports from the LCI with maximum interest.
Despite all this, the rumours are unlikely to be true in the immediate future. The current central government is nearing the end of its five-year term. The general elections will be held in May later this year. The government, which is facing a tough battle for a second term, may not risk doing anything unconventional or what can be dubbed as politically incorrect at this juncture.
February 21, 2019
February 05, 2019
Kambi signs deal to relaunch Mybet sportsbook in Germany
Kambi signs deal to relaunch Mybet sportsbook in Germany Kambi has today signed a deal to power the relaunch of Mybet, one of Germany’s most recognisable sports betting brands now under new ownership.
Due to the recent insolvency of its previous owner, MyBet Holding SE, Mybet was withdrawn from the market in the fall of 2018 following 15 years of operation, however, the mybet brand and digital assets have since been purchased by a new investment group.
Under the terms of today’s multi-year agreement, Kambi will provide Rhinoceros Operations Ltd, the new operator of mybet, with its complete Sportsbook and full range of managed services, enabling the company to relaunch the brand into the growing German online market.
The Mybet relaunch is scheduled to take place during H1 2019, while the contract also provides a provision for Rhinoceros Operations to launch a Kambi Sportsbook with other brands under its ownership.
Kristian Nylén, Kambi Chief Executive Officer, said: “The story of Mybet illustrates why operators cannot afford to rely purely on the strength of their brand and history in a market. Online sports bettors are increasingly promiscuous so operators must ensure they have sufficient scale in their product investments to provide exciting sports betting experiences at all times to remain competitive. Partnering with a high-quality supplier such as Kambi solves that challenge.
“We are excited by the potential of Mybet. The brand remains strong and, with the quality the Kambi Sportsbook offers, we believe Mybet can once again become a leading player in the German market and elsewhere.”
Tobias Carlsson, CEO of the Rhinoceros Group, said: “Our agreement with Kambi is one of the cornerstones on which we will build the future of a great brand. Mybet was one of the pioneers in the German sports betting field, and together with Kambi and our other partners we will do everything in our power to revive that legacy and bring players the experience they desire and deserve.”
Due to the recent insolvency of its previous owner, MyBet Holding SE, Mybet was withdrawn from the market in the fall of 2018 following 15 years of operation, however, the mybet brand and digital assets have since been purchased by a new investment group.
Under the terms of today’s multi-year agreement, Kambi will provide Rhinoceros Operations Ltd, the new operator of mybet, with its complete Sportsbook and full range of managed services, enabling the company to relaunch the brand into the growing German online market.
The Mybet relaunch is scheduled to take place during H1 2019, while the contract also provides a provision for Rhinoceros Operations to launch a Kambi Sportsbook with other brands under its ownership.
Kristian Nylén, Kambi Chief Executive Officer, said: “The story of Mybet illustrates why operators cannot afford to rely purely on the strength of their brand and history in a market. Online sports bettors are increasingly promiscuous so operators must ensure they have sufficient scale in their product investments to provide exciting sports betting experiences at all times to remain competitive. Partnering with a high-quality supplier such as Kambi solves that challenge.
“We are excited by the potential of Mybet. The brand remains strong and, with the quality the Kambi Sportsbook offers, we believe Mybet can once again become a leading player in the German market and elsewhere.”
Tobias Carlsson, CEO of the Rhinoceros Group, said: “Our agreement with Kambi is one of the cornerstones on which we will build the future of a great brand. Mybet was one of the pioneers in the German sports betting field, and together with Kambi and our other partners we will do everything in our power to revive that legacy and bring players the experience they desire and deserve.”
February 01, 2019
Arrest warrants out for 394 in largest online illegal betting raid in modern Turkey's history
Arrest warrants were issued for 394 people Friday in mass simultaneous operations carried out by Turkish police across the country against online betting and gambling sites operating illegally.
The Cybercrime Division Branch of the Istanbul Security Directorate launched the raids in 40 provinces to capture 394 suspects, 207 of which were in Istanbul, for violating the law on online gambling and gaming regulations. Some 5,000 police officers are taking part in the raids.
So far, cybercrime units have seized 42 million Turkish liras in cash, in addition to $94,000 and 133,000 euros. Police have said the sites generated somewhere around TL 3.5 billion. The operations against gambling rings and illegal betting outfits are still continuing.
Investigations found that 72 front companies were established in the cosmetics, logistics and food sectors to hide their betting activities relating to football matches and other sports events. As part of the probes, financial analyses were conducted on 849 people and 4,345 bank accounts affiliated with the suspects and companies. The total money traffic was found out to be TL 2.145 billion, $12.120 million, 9.366 million euros, 7 million Russian rubles and TL 1.8 million worth of gold, in addition to smaller amounts of British pounds, Swiss francs and Canadian dollars.
Police units also informed local authorities that administrative fines ranging from TL 8,500 to TL 35,000 will be issued for 455 gamblers.
Turkey struggles to crack down on illegal betting as a country where football is the nation's favorite sport and a way of earning income for gambling addicts. The country implemented a law last year to facilitate the seizure of revenues for illegal betting organizers, but the gangs managed to circumvent the strict monitoring of bank accounts. Authorities say they stepped up cooperation with banks to detect accounts used by gangs and betting.
The Cybercrime Division Branch of the Istanbul Security Directorate launched the raids in 40 provinces to capture 394 suspects, 207 of which were in Istanbul, for violating the law on online gambling and gaming regulations. Some 5,000 police officers are taking part in the raids.
So far, cybercrime units have seized 42 million Turkish liras in cash, in addition to $94,000 and 133,000 euros. Police have said the sites generated somewhere around TL 3.5 billion. The operations against gambling rings and illegal betting outfits are still continuing.
Investigations found that 72 front companies were established in the cosmetics, logistics and food sectors to hide their betting activities relating to football matches and other sports events. As part of the probes, financial analyses were conducted on 849 people and 4,345 bank accounts affiliated with the suspects and companies. The total money traffic was found out to be TL 2.145 billion, $12.120 million, 9.366 million euros, 7 million Russian rubles and TL 1.8 million worth of gold, in addition to smaller amounts of British pounds, Swiss francs and Canadian dollars.
Police units also informed local authorities that administrative fines ranging from TL 8,500 to TL 35,000 will be issued for 455 gamblers.
Turkey struggles to crack down on illegal betting as a country where football is the nation's favorite sport and a way of earning income for gambling addicts. The country implemented a law last year to facilitate the seizure of revenues for illegal betting organizers, but the gangs managed to circumvent the strict monitoring of bank accounts. Authorities say they stepped up cooperation with banks to detect accounts used by gangs and betting.
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