Betfair US, the Los Angeles-based subsidiary of leading online betting exchange Betfair, has entered into a five-year agreement with Hollywood Park Racing Association (HPRA), operator of the Hollywood Park Racetrack which has been renamed Betfair Hollywood Park.
The HPRA said the deal was a “groundbreaking agreement intended to transform the customer experience for racing fans at the historic venue, online and on television.”
The association claims that the renaming of its venue as Betfair Hollywood Park marks the first naming rights agreement ever for a horseracing venue in the United States.
“We realize that US racing, and California racing in particular, simply cannot continue on as it has,” said Jack Liebau, president of Hollywood Park Racing Association. “We need to look at the way we do everything in presenting our product to the public and not be afraid to embrace change, particularly if we are going to generate a younger fan base.”
Subject to Hollywood Park receiving assurances regarding its racing dates for 2013, Betfair will also make significant infrastructure investments and improvements at the Hollywood Park facility to create the Betfair Club and Betfair Lounge, which will offer customers modern surroundings and access to state-of-the-art technologies to interact with the racing product.
Betfair said that this will build on the success of its innovative Betfair Lounge at Ascot Racecourse in the UK. The company said that it will utilise its own marketing initiatives to drive younger demographics to the racing venue and monetise them, supported by traditional marketing campaigns on TVG and in the Los Angeles market.
“We are deeply committed to changing US horseracing for the better and are delighted to find a partner in Hollywood Park Racing Association willing to take the bold step of trying to change every facet of the racing experience to appeal to a broader, younger audience,” said Stephen Burn, CEO of Betfair US and TVG. “Horseracing is a wonderful sport, but it must embrace cultural change and utilize advancements in technology and presentation to survive and thrive just as other sports and entertainment industries have done.
“We hope this is the first of many examples of using the assets of technology companies, such as Betfair, to revitalise historic venues such as Betfair Hollywood Park.”
Betfair subsidiary TVG will produce the Betfair Hollywood Park simulcast signal and related TVG television programming, as well as introduce advanced graphics packages similar to those used in network broadcasts of major US sporting events to enhance the user experience and data available from the product.
“We believe that partnering with Betfair to modernise the product will benefit California racing,” continued Liebau. “Exchange wagering is another possibly transformative technological change for horseracing. However, it will only be introduced after a thorough consultation with our Horsemen and Horsewomen and, of course, its implementation is ultimately subject to the approval of the Thoroughbred Owners of California.”
The California Horse Racing Board is currently considering regulations that would make possible the implementation of exchange wagering on horseracing by California residents.
March 19, 2012
March 16, 2012
Live betting is here to stay, says Tabcorp
Live betting on sport is here to stay, and the Federal Government needs to do more to regulate it, says gambling firm Tabcorp.
Tabcorp chief executive David Attenborough said today the government was examining the issues of broadcasting odds during live events and the provision of live betting over the internet, among other matters.
Consumers can now bet on live sporting events over the phone but not over the internet.
"Despite this prohibition, a number of wagering operators have offered live online betting to their Australian customers," Mr Attenborough told an American Chamber of Commerce in Australia luncheon.
"We are not aware of any of these operators being prosecuted for breaching the Interactive Gambling Act.
"Whereas operators such as Tabcorp, who comply with the law, are disadvantaged because some competitors ignore the prohibition, without consequence."
Mr Attenborough said live betting needed to be governed by consistent national rules that provide a level playing field for all participants.
Mr Attenborough said one could not stop people from betting on sport, especially when money flowed freely around the world.
He said betting on sports was becoming "part of everyday entertainment".
"Sport is much more exciting when you bet on it," he said.
Mr Attenborough said technology was boosting the gambling sector, particularly as gambling products were made available over mobile phones.
"Customers just want to transact, through technology, as easily as possible," he said.
"And you can deliver information easily."
Mr Attenborough said Tabcorp would, at some stage, like to break into Asian markets, but they were more complex, given religious and regulatory factors.
"India is a particularly difficult one to enter. There are a number of companies that are trying to enter it," he said.
"I think it's good in some of those markets to be a follower."
Tabcorp chief executive David Attenborough said today the government was examining the issues of broadcasting odds during live events and the provision of live betting over the internet, among other matters.
Consumers can now bet on live sporting events over the phone but not over the internet.
"Despite this prohibition, a number of wagering operators have offered live online betting to their Australian customers," Mr Attenborough told an American Chamber of Commerce in Australia luncheon.
"We are not aware of any of these operators being prosecuted for breaching the Interactive Gambling Act.
"Whereas operators such as Tabcorp, who comply with the law, are disadvantaged because some competitors ignore the prohibition, without consequence."
Mr Attenborough said live betting needed to be governed by consistent national rules that provide a level playing field for all participants.
Mr Attenborough said one could not stop people from betting on sport, especially when money flowed freely around the world.
He said betting on sports was becoming "part of everyday entertainment".
"Sport is much more exciting when you bet on it," he said.
Mr Attenborough said technology was boosting the gambling sector, particularly as gambling products were made available over mobile phones.
"Customers just want to transact, through technology, as easily as possible," he said.
"And you can deliver information easily."
Mr Attenborough said Tabcorp would, at some stage, like to break into Asian markets, but they were more complex, given religious and regulatory factors.
"India is a particularly difficult one to enter. There are a number of companies that are trying to enter it," he said.
"I think it's good in some of those markets to be a follower."
March 15, 2012
Bulgaria moves to regulate online gambling
Bulgaria's parliament adopted on Thursday a new law to regulate online gambling for the first time, its press office said.
Internet gambling and online betting had not been strictly regulated in Bulgaria, opening the door to an ever growing number of scam websites.
The new law sets special licensing regimes for all online casino operators, both Bulgarian and foreign.
It also obliges Internet providers to block access to unlicensed gambling websites, which were also to be included in a special blacklist.
This controversial requirement was approved by parliament despite opposition from Internet service providers and rights groups, who said this might set a precedent for filtering other websites.
Lawmakers also banned direct advertisement of gambling games.
The new regulations will also bring another 100 million leva (50 million euros, $67 million) of annual revenues to the public budget, according to parliamentarians of the ruling right-wing GERB party.
Internet gambling and online betting had not been strictly regulated in Bulgaria, opening the door to an ever growing number of scam websites.
The new law sets special licensing regimes for all online casino operators, both Bulgarian and foreign.
It also obliges Internet providers to block access to unlicensed gambling websites, which were also to be included in a special blacklist.
This controversial requirement was approved by parliament despite opposition from Internet service providers and rights groups, who said this might set a precedent for filtering other websites.
Lawmakers also banned direct advertisement of gambling games.
The new regulations will also bring another 100 million leva (50 million euros, $67 million) of annual revenues to the public budget, according to parliamentarians of the ruling right-wing GERB party.
Bodog moves to address collusion concerns
Bodog has taken steps to address concerns about the increased possibility of collusion at its anonymous poker tables by offering to provide the hand histories of all players at a table.
The company said it was introducing the feature in response to player feedback.
“Once all the noise of whining poker ‘pros’ who could no longer use software allowing access to data on how you play your game against Bodog players died down, the only credible complaint was the threat of collusion,” Bodog said in a statement Thursday.
As a result, the Bodog Poker Network now allows players to request their own hand histories, after a period of 24 hours, as well as the hole card information for all players in the same hand.
“The fact that we can now offer players this information is another advantage of our anonymous tables and something nobody else can offer,” said Jonas Odman, VP of the Bodog Poker Network. “Collusion is a natural concern for any poker room but this new additional feature puts the player in full control.”
The company said it was introducing the feature in response to player feedback.
“Once all the noise of whining poker ‘pros’ who could no longer use software allowing access to data on how you play your game against Bodog players died down, the only credible complaint was the threat of collusion,” Bodog said in a statement Thursday.
As a result, the Bodog Poker Network now allows players to request their own hand histories, after a period of 24 hours, as well as the hole card information for all players in the same hand.
“The fact that we can now offer players this information is another advantage of our anonymous tables and something nobody else can offer,” said Jonas Odman, VP of the Bodog Poker Network. “Collusion is a natural concern for any poker room but this new additional feature puts the player in full control.”
March 14, 2012
Iowa Senate OKs bill allowing Internet poker
Iowa would be one of the first states in the nation to allow Internet poker under a bill approved Tuesday night by the Senate.
No legislators spoke against the overall bill, which passed by a bipartisan 29-20 vote.
Advocates said the bill would help give the state a cut of the estimated $30 million in Iowa gambling money now flowing overseas every year. The issue has been in play in recent legislative sessions.
“Anytime we deal with gaming issues, there are a lot of public policy considerations,” said Sen. Jeff Danielson, D-Cedar Falls, who led the debate. “We did our homework. We worked together to come up with a solution that we believe addresses the problem.”
If the bill were to become law, Iowa casinos could launch the games, allowing people to establish accounts and deposit money to use for online wagering. Various tools would be in place to bar underage users or people outside Iowa from participating.
The nonpartisan Legislative Services Agency estimated the games would bring as much as $15 million yearly to the state — $13.2 million from taxes and up to $1.8 million for educational and charitable giving required from license holders.
Efforts to use the money to help resolve an estimated $215 million annual shortfall in Iowa’s road improvement budgets failed after opponents expressed concerns that the idea had not been properly vetted through the typical legislative process.
“We have heard time and time again that this bill before us is not about the funding, it’s about protecting our consumers,” said Sen. Joni Ernst, R-Red Oak, who proposed using the money for roads. “So if it is not about the funding, why would we not direct it into an area that so desperately needs the funding?”
Groups like the Family Leader and the Iowa Faith & Freedom Coalition have previously voiced opposition to the proposal, saying it expands gambling.
“We look at this as a big step from having casino gambling in about 20 locations to however many households are in Iowa,” said Tom Chapman of the Iowa Catholic Conference. “We think legalizing it will expand it, and we think we’ll see more problems with families.”
Gov. Terry Branstad this week noted that he has previously indicated an openness to consider the issue.
“I want to protect the integrity of Iowans. I think that’s the most important thing. In terms of regulating and controlling gambling in this state, our top priority has been to keep it honest, clean, open, transparent and keep the criminal element out,” Branstad said.
Lawmakers in Nevada and the District of Columbia have approved Internet poker, although both are still creating rules and have not yet launched the games.
The bill now heads to the House for further consideration.
No legislators spoke against the overall bill, which passed by a bipartisan 29-20 vote.
Advocates said the bill would help give the state a cut of the estimated $30 million in Iowa gambling money now flowing overseas every year. The issue has been in play in recent legislative sessions.
“Anytime we deal with gaming issues, there are a lot of public policy considerations,” said Sen. Jeff Danielson, D-Cedar Falls, who led the debate. “We did our homework. We worked together to come up with a solution that we believe addresses the problem.”
If the bill were to become law, Iowa casinos could launch the games, allowing people to establish accounts and deposit money to use for online wagering. Various tools would be in place to bar underage users or people outside Iowa from participating.
The nonpartisan Legislative Services Agency estimated the games would bring as much as $15 million yearly to the state — $13.2 million from taxes and up to $1.8 million for educational and charitable giving required from license holders.
Efforts to use the money to help resolve an estimated $215 million annual shortfall in Iowa’s road improvement budgets failed after opponents expressed concerns that the idea had not been properly vetted through the typical legislative process.
“We have heard time and time again that this bill before us is not about the funding, it’s about protecting our consumers,” said Sen. Joni Ernst, R-Red Oak, who proposed using the money for roads. “So if it is not about the funding, why would we not direct it into an area that so desperately needs the funding?”
Groups like the Family Leader and the Iowa Faith & Freedom Coalition have previously voiced opposition to the proposal, saying it expands gambling.
“We look at this as a big step from having casino gambling in about 20 locations to however many households are in Iowa,” said Tom Chapman of the Iowa Catholic Conference. “We think legalizing it will expand it, and we think we’ll see more problems with families.”
Gov. Terry Branstad this week noted that he has previously indicated an openness to consider the issue.
“I want to protect the integrity of Iowans. I think that’s the most important thing. In terms of regulating and controlling gambling in this state, our top priority has been to keep it honest, clean, open, transparent and keep the criminal element out,” Branstad said.
Lawmakers in Nevada and the District of Columbia have approved Internet poker, although both are still creating rules and have not yet launched the games.
The bill now heads to the House for further consideration.
Is there a Full Tilt Poker Back Up Plan?
As with most things regarding Full Tilt Poker these days, most of what we know regarding the true fate of the company’s future is speculation, hearsay and leaked reports. While it has been confirmed that the French investment group, Groupe Bernard Tapie is willing to pay $80 million in order to acquire Full Tilt Poker, there has been some speculation recently that the online poker room may be eying a backup plan if the GBT buyout fails.
According to an iGaming report, an anonymous UK private equity firm wants to buy Full Tilt Poker’s software for “cannibalization purposes.” Unfortunately for the online poker room, and for the thousands of players who have been waiting to see their money paid back since April last year, the offer is much more modest than the amount offered by Groupe Bernard Tapie, and is said to be in the region of $35 million.
The iGaming report reads: “The deal would centre around offering in the region of $30 to $35 million for the software alone, while the FTP name, brand and all associated with it would be then wound up. The funds for the software would be deposited in a neutral account for Administrators of the company to distribute to creditors of FTP.”
In its heyday, Full Tilt Poker was raking in over $1 million a day, and its software is considered among the most innovative in the world. It seems a shame then, that the same platform which brought the industry Rush Poker and other excellent features, would be forced to sell for such a relatively small amount. On the other hand, it seems that if the plan with the French investors doesn’t come to fruition, Full Tilt Poker may simply have no other choice but to accept the offer by the unnamed British group.
According to an iGaming report, an anonymous UK private equity firm wants to buy Full Tilt Poker’s software for “cannibalization purposes.” Unfortunately for the online poker room, and for the thousands of players who have been waiting to see their money paid back since April last year, the offer is much more modest than the amount offered by Groupe Bernard Tapie, and is said to be in the region of $35 million.
The iGaming report reads: “The deal would centre around offering in the region of $30 to $35 million for the software alone, while the FTP name, brand and all associated with it would be then wound up. The funds for the software would be deposited in a neutral account for Administrators of the company to distribute to creditors of FTP.”
In its heyday, Full Tilt Poker was raking in over $1 million a day, and its software is considered among the most innovative in the world. It seems a shame then, that the same platform which brought the industry Rush Poker and other excellent features, would be forced to sell for such a relatively small amount. On the other hand, it seems that if the plan with the French investors doesn’t come to fruition, Full Tilt Poker may simply have no other choice but to accept the offer by the unnamed British group.
March 13, 2012
Helvet Group & Merkur Casino face criminal charges
The Czech Finance Ministry’s anti-money laundering and financial crimes watchdog, the Financial Analytical Unit (FAÚ), says hundreds of millions of crowns which gambling and betting firms should have put into charitable causes was effectively embezzled. The accusations were outlined in its annual report for 2011 released last month. On Thursday, the daily Hospodářské noviny (HN) published the names of the firms against which the FAÚ has lodged criminal complaints.
HN reported that the Helvet Group “diverted” Kč 140 million ($7.5 million US), and Merkur Casino – Kč 100 million ($5.3 million US), which the firms claimed they had given to worthy causes. According to the criminal complaints lodged by the FAÚ, all that money made its way back to the companies. For the most part they allegedly operated a scam based on sending money to the accounts of registered, but inactive charities and civic organizations. The money was then withdrawn in cash.
Both of the companies refused to comment about the charges against them.
The bogus NGOs which reportedly received money from the Helvet Group include the Association for the Defense of Rights and Justice (SOPS), which according to the FAÚ received Kč 16.7 million ($893,000 US). Among other recipients of “contributions” from Merkur Casino was the inactive Association for the Support and Promotion of UNESCO World Heritage Monuments to which the casino chain operator transferred Kč 3.5 million ($187,000 US), and Tree of Life – a Czechoslovak Society about which the only information available is that its registered address is near Prague’s main airport.
Two other supposed charities, Greenway Centrum and Our Rainbow (Naše duha) are registered at the same address. The only sign of any activity from either are virtual plans for an ecological center. Together these two organizations received almost Kč 16 million (855,000 US).
The tax exemption enjoyed by Czech betting and gambling firms has finally been scrapped. Until now, instead of paying any corporate or gambling tax, lottery firms were required to donate to charities but free to choose which good causes they could sponsor. From this year they are subject to corporate tax, a new gambling tax, plus a local income tax.
HN reported that the Helvet Group “diverted” Kč 140 million ($7.5 million US), and Merkur Casino – Kč 100 million ($5.3 million US), which the firms claimed they had given to worthy causes. According to the criminal complaints lodged by the FAÚ, all that money made its way back to the companies. For the most part they allegedly operated a scam based on sending money to the accounts of registered, but inactive charities and civic organizations. The money was then withdrawn in cash.
Both of the companies refused to comment about the charges against them.
The bogus NGOs which reportedly received money from the Helvet Group include the Association for the Defense of Rights and Justice (SOPS), which according to the FAÚ received Kč 16.7 million ($893,000 US). Among other recipients of “contributions” from Merkur Casino was the inactive Association for the Support and Promotion of UNESCO World Heritage Monuments to which the casino chain operator transferred Kč 3.5 million ($187,000 US), and Tree of Life – a Czechoslovak Society about which the only information available is that its registered address is near Prague’s main airport.
Two other supposed charities, Greenway Centrum and Our Rainbow (Naše duha) are registered at the same address. The only sign of any activity from either are virtual plans for an ecological center. Together these two organizations received almost Kč 16 million (855,000 US).
The tax exemption enjoyed by Czech betting and gambling firms has finally been scrapped. Until now, instead of paying any corporate or gambling tax, lottery firms were required to donate to charities but free to choose which good causes they could sponsor. From this year they are subject to corporate tax, a new gambling tax, plus a local income tax.
Court supports Codere
Efforts by Codere to halt illegal activities of Spanish online operators have been supported by a court in Madrid. The court has already halted the operation of Sportingbet sites miapuesta.com and miapuesta.es and considers that “any offering of gaming or betting activity that has not been granted a prior administrative authorisation is, indisputably, prohibited.”
As reported in intergameonline.com, the “court states that any offering and marketing of games of chance and betting carried out remotely before and after the entry into force on May 29, 2011, of a new gaming law is illegal, since they have been developed breaching current prohibitions and without the relevant licences granted in Spain.”
Codere has been strenuously tying to bring these operators to justice; the very same operators that have been flaunting themselves from tax havens, impervious to the Spanish tax authorities, without licences, without player protection, without paying taxes in Spain, without generating employment and harming those entities which operate lawfully in Spain.
The Spanish government and the EU have now opened their eyes to this, as well as breaking away from the “legal vacuum” which has been used by unlicensed operators to justify their Spanish operations. Licenses being granted is still pending before the General Directorate of Gaming Supervision
As reported in intergameonline.com, the “court states that any offering and marketing of games of chance and betting carried out remotely before and after the entry into force on May 29, 2011, of a new gaming law is illegal, since they have been developed breaching current prohibitions and without the relevant licences granted in Spain.”
Codere has been strenuously tying to bring these operators to justice; the very same operators that have been flaunting themselves from tax havens, impervious to the Spanish tax authorities, without licences, without player protection, without paying taxes in Spain, without generating employment and harming those entities which operate lawfully in Spain.
The Spanish government and the EU have now opened their eyes to this, as well as breaking away from the “legal vacuum” which has been used by unlicensed operators to justify their Spanish operations. Licenses being granted is still pending before the General Directorate of Gaming Supervision
March 12, 2012
Singapore Govt to introduce third-party casino exclusions
Singapore’s Acting Minister for Community Development, Youth and Sports Chan Chun Sing said in Parliament on Friday that local gamblers need more help should they fall into problems with gambling, one of those groups being low-income gamblers.
Mr Chan said: “There is a need to protect these Singaporeans and their families from the potential harm of hard gambling.”
“We are looking into targeted measures to protect the financially vulnerable and introducing “circuit breakers” for local frequent casino gamblers.
“One part of this will be extending third-party casino exclusions to more groups receiving ComCare assistance.
“For other financially vulnerable groups, we are now studying with relevant agencies whether to extend exclusion coverage to them.
“We will finalise the details within the next few months.”
Mr Chan said: “There is a need to protect these Singaporeans and their families from the potential harm of hard gambling.”
“We are looking into targeted measures to protect the financially vulnerable and introducing “circuit breakers” for local frequent casino gamblers.
“One part of this will be extending third-party casino exclusions to more groups receiving ComCare assistance.
“For other financially vulnerable groups, we are now studying with relevant agencies whether to extend exclusion coverage to them.
“We will finalise the details within the next few months.”
Is Portugal changing its mind?
Portugal could be making a u-turn over online gambling, according to various reports. Initially, online gambling was seen as a threat and was ruled out but now looks like they’re opening their eyes to the possibility of regulating to possibly finance imminent pension needs.
At the time it was estimated that such a strategy could raise an extra Euro 250 million for government coffers. The tourism minister, Cecilia Meireles has been saying the government is now rethinking the benefits of revenue derived from the activity.
Earlier this year, the Portugal Daily Review reported that a source in the Ministry of the Economy had confirmed that the concept was being progressed, although little detail was available. The figure of Euro 250 million, collected from “gambling concessions” was still the financial target at that point.
It’s also been reported that the government has decided that it is a “reasonable goal” to start collecting gambling fees. Quoted in a local newspaper Publico, she has said that local legislators have, “unanimously approved” policies to regulate the gambling sector. She had also added that the course of action regarding this latest move requires “some secrecy” which tells those interested in the news that there are some hurdles to overcome yet. Bwin had previously lost its cause to sponsor the Portuguese Football League.
At the time it was estimated that such a strategy could raise an extra Euro 250 million for government coffers. The tourism minister, Cecilia Meireles has been saying the government is now rethinking the benefits of revenue derived from the activity.
Earlier this year, the Portugal Daily Review reported that a source in the Ministry of the Economy had confirmed that the concept was being progressed, although little detail was available. The figure of Euro 250 million, collected from “gambling concessions” was still the financial target at that point.
It’s also been reported that the government has decided that it is a “reasonable goal” to start collecting gambling fees. Quoted in a local newspaper Publico, she has said that local legislators have, “unanimously approved” policies to regulate the gambling sector. She had also added that the course of action regarding this latest move requires “some secrecy” which tells those interested in the news that there are some hurdles to overcome yet. Bwin had previously lost its cause to sponsor the Portuguese Football League.
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