On the release of its full year results for 2011, the giant gambling entity, Bwin.Party Digital Entertainment made several comments regarding the online poker industry and the effect that the downfall of sites such as Full Tilt Poker had on Bwin Poker and the industry at large.
“The indictment of the founders of PokerStars, Full Tilt Poker and Absolute Poker/Ultimate Bet on 15 April 2011 represented the start of what we believe will prove to be a fundamental shift in the shape and structure of the global online poker market,” read the report.
“With the exception of PokerStars, all of these sites have now closed. PokerStars’ relative size meant that it was able to capture the lion’s share of Full Tilt’s non-US players, consolidating its position as market leader in most territories.”
The company said that all this made for a challenging operating environment for Bwin’s poker business, although it believes that it can remain one of the largest networks in the market. The report predicted that Bwin’s position will be further enhanced when the group pools its player liquidity across its poker brands in the dotcom and ring fenced markets in France and Italy in 2012.
While poker made up 27.8% of Bwin.Party’s overall revenue in 2010, this figure dropped to 25.7% in 2011.
The report also predicted that we will soon be seeing the convergence of real money gaming and social gaming. “This represents a major opportunity forBwin.Party and we have of initiatives already underway in these areas that we expect to drive value for shareholders in the medium to long term,” it read.
April 05, 2012
Mind-blowing Zynga and Wynn?
Social gaming and real-life betting is rapidly becoming a match-made in heaven. It’s recently been exposed that Zynga is in talks with Wynn Resorts about a potential online gambling link between the two. Although none have commented on the matter, it doesn’t stop the rumour mill from running.
At least 20 states are considering legalizing online gambling after the Justice Department reinterpreted a decades-old federal law in December and found it only banned sports betting and not other forms of online gambling. In light of this, Zynga CEO Mark Pincus has said that the firm’s possibilities are “mind-blowing.”
The nypost.com discovered that there could be a few problems that Zynga would encounter. Firstly, Wynn wouldn’t have to be the only partnership.
Among the problems: Most of the proposed state legislation would restrict online licenses to those who already are licensed to run a state gaming operation. Wynn only operates in Nevada.
New Jersey, for instance, has a bill that passed the state Senate and is now in the Assembly that would grant Internet licenses only to those with computer servers based in Atlantic City casinos. “Our goal is to help existing casino operators. We don’t know anything about Zynga,” state Assembly Regulatory Oversight and Gaming Committee Chair Ruben Ramos Jr. told The Post.
Zynga could be moving to the UK, facing fierce competition at the same time.
Indeed, Facebook, which does not want to host online gambling on its own site, has held conversations with UK online bookmakers William Hill and Ladbrokes about offering Facebook users access to their sites, a source said.
At least 20 states are considering legalizing online gambling after the Justice Department reinterpreted a decades-old federal law in December and found it only banned sports betting and not other forms of online gambling. In light of this, Zynga CEO Mark Pincus has said that the firm’s possibilities are “mind-blowing.”
The nypost.com discovered that there could be a few problems that Zynga would encounter. Firstly, Wynn wouldn’t have to be the only partnership.
Among the problems: Most of the proposed state legislation would restrict online licenses to those who already are licensed to run a state gaming operation. Wynn only operates in Nevada.
New Jersey, for instance, has a bill that passed the state Senate and is now in the Assembly that would grant Internet licenses only to those with computer servers based in Atlantic City casinos. “Our goal is to help existing casino operators. We don’t know anything about Zynga,” state Assembly Regulatory Oversight and Gaming Committee Chair Ruben Ramos Jr. told The Post.
Zynga could be moving to the UK, facing fierce competition at the same time.
Indeed, Facebook, which does not want to host online gambling on its own site, has held conversations with UK online bookmakers William Hill and Ladbrokes about offering Facebook users access to their sites, a source said.
Silicon Valley of Internet gaming
New Jersey has been given the green light in the gambling world. Well, nearly. It was reported that an internet bill is currently making its way through New Jersey legislature, allowing Atlantic City casinos to take bets from gamblers from other states. Providing its legal of course.
The measure was approved Tuesday by a state Senate committee.
“This is another step forward toward my goal of New Jersey becoming the Silicon Valley of Internet gaming, generating hundreds of millions in revenues for our casino industry, thousands of jobs for Atlantic City, and tens of millions of revenues for our Casino Revenue Fund to help seniors and the disabled,” said Sen. Raymond Lesniak, a northern New Jersey Democrat who has been the bill’s most vocal supporter.
There are still some obstacles to overcome however, such as legal challenges and demand by supporters of horse racing that the state’s tracks be allowed to offer Internet gambling as well.
The Associated Press reported that New Jersey has been racing to try to get Internet gambling up and running and stake a claim to leadership in a potential multi-billion-dollar industry. The bill, which now heads to the full Senate for a vote, would allow bets to be accepted from other states and nations if the state Division of Gaming Enforcement determines it doesn’t violate federal laws. Internet gambling revenue would be taxed at 10 percent, up from the 8 percent casinos pay on regular slot and table games revenue.
New Jersey was poised to become the first state in the nation last year to offer in-state Internet gambling, but Christie vetoed the bill. The Republican governor expressed doubts about its legality and worried about the possible proliferation of “Internet cafes” and back-room betting joints.
The measure was approved Tuesday by a state Senate committee.
“This is another step forward toward my goal of New Jersey becoming the Silicon Valley of Internet gaming, generating hundreds of millions in revenues for our casino industry, thousands of jobs for Atlantic City, and tens of millions of revenues for our Casino Revenue Fund to help seniors and the disabled,” said Sen. Raymond Lesniak, a northern New Jersey Democrat who has been the bill’s most vocal supporter.
There are still some obstacles to overcome however, such as legal challenges and demand by supporters of horse racing that the state’s tracks be allowed to offer Internet gambling as well.
The Associated Press reported that New Jersey has been racing to try to get Internet gambling up and running and stake a claim to leadership in a potential multi-billion-dollar industry. The bill, which now heads to the full Senate for a vote, would allow bets to be accepted from other states and nations if the state Division of Gaming Enforcement determines it doesn’t violate federal laws. Internet gambling revenue would be taxed at 10 percent, up from the 8 percent casinos pay on regular slot and table games revenue.
New Jersey was poised to become the first state in the nation last year to offer in-state Internet gambling, but Christie vetoed the bill. The Republican governor expressed doubts about its legality and worried about the possible proliferation of “Internet cafes” and back-room betting joints.
Cashing in on Caesars online sector
Rock Gaming is reportedly buying into an undisclosed percentage of Caesars online sector, Caesars Interactive. The price tag attached to this is an alleged $60.8 million. The reports first surfaced in Newsnet5.com and stated that an SEC filing by Rock shows that it has the option to up its shares in the company by roughly 25 percent down the road for $19.2 million as well.
“Rock Gaming is pleased to expand our relationship with the Caesars organization through an investment in Caesars Interactive Entertainment,” the company said in a prepared statement.
“Through our existing joint venture to develop full-service urban casinos in Cleveland & Cincinnati… we believe that an investment in CIE is a natural next step to align our interests & talents with Caesars.”
The latest news indicates that there is money to be made in social gaming. In Newsnet5’s opinion: “The potential is evident by looking at companies like Zynga, which offers Texas Hold™em Poker & many others on Facebook,” the station notes, pointing out that when Facebook went public earlier this year it was revealed that Zynga made up about 12 percent of the social networking giant’s revenue.
It also added that the laws governing online gambling in the U.S. are in a state of change following last year’s interpretation of the Wire Act by the Justice Department that altered its long-held view that all online wagering was illegal. The new position implies that the act applies to only sports betting.
“Rock Gaming is pleased to expand our relationship with the Caesars organization through an investment in Caesars Interactive Entertainment,” the company said in a prepared statement.
“Through our existing joint venture to develop full-service urban casinos in Cleveland & Cincinnati… we believe that an investment in CIE is a natural next step to align our interests & talents with Caesars.”
The latest news indicates that there is money to be made in social gaming. In Newsnet5’s opinion: “The potential is evident by looking at companies like Zynga, which offers Texas Hold™em Poker & many others on Facebook,” the station notes, pointing out that when Facebook went public earlier this year it was revealed that Zynga made up about 12 percent of the social networking giant’s revenue.
It also added that the laws governing online gambling in the U.S. are in a state of change following last year’s interpretation of the Wire Act by the Justice Department that altered its long-held view that all online wagering was illegal. The new position implies that the act applies to only sports betting.
Trump card on 888
Donald Trump is reportedly eyeing up the online gambling market in America. It’s been speculated that he is on the verge of playing the trump card in the US and is in talks with London gaming company 888. The reports first surfaced within The Times newspaper. As soon as regulation is introduced, Trump hopes to get his foot in the door, or at least that it is what the gambling world is watching unfold. Of course, this is all speculation at the moment so we will endeavor to bring you more as it unfolds.
New Jersey, where Trump’s Atlantic City headquarters is based, is tipped to be among the first states to pass legislation,’ reports the Times.
New Jersey, where Trump’s Atlantic City headquarters is based, is tipped to be among the first states to pass legislation,’ reports the Times.
Betclic exits Portuguese market
Court proceedings could have a devastating impact on football sponsorships provided by online gambling companies. In the latest news within the Portuguese market, Betclic has confirmed to the newspaper Publico that it is about to exit the Portuguese market. If this proceeds, it will end its sponsorship program and impact some 28 regional soccer clubs, sports observers have noted.
It’s also been reported that the litigious actions of Portuguese gambling monopoly Santa Casa de Misericordia de Lisboa, which has launched successful civil actions against Betclic, Bwin & other European internet gambling groups, may have a possible negative impact on football in that country. Various online companies have strongly supported them through sponsorships.
It’s also been reported that the litigious actions of Portuguese gambling monopoly Santa Casa de Misericordia de Lisboa, which has launched successful civil actions against Betclic, Bwin & other European internet gambling groups, may have a possible negative impact on football in that country. Various online companies have strongly supported them through sponsorships.
Man at centre of illegal gambling allegations shot dead in Sofia
A 40-year-old Blagoevgrad man who had been at the centre of illegal gambling allegations died on the way to hospital after being shot six times in Sofia's Kiril i Metodii Street.
The Interior Ministry said on April 4 2012 that the man, named in media reports as Yordan Dinov, had been found at about 10am prone on the pavement at a spot between the corners with Bacho Kiro and Budapeshta streets.
Dinov had been the subject of allegations related to illegal gambling online and match-fixing, reports said.
Dinov did not receive threats, said his lawyer Ilko Stoyanov. He added he had had a telephone conversation with the victim in the morning and made an appointment. According to him Yordan Dinov sounded quite normal and calm and did not ever tell he had received threats.
The lawyer said there are about 30-40 lawsuits against his client. The proceedings were initiated by the National Revenue Agency and Gambling Commission.
The Interior Ministry said on April 4 2012 that the man, named in media reports as Yordan Dinov, had been found at about 10am prone on the pavement at a spot between the corners with Bacho Kiro and Budapeshta streets.
Dinov had been the subject of allegations related to illegal gambling online and match-fixing, reports said.
Dinov did not receive threats, said his lawyer Ilko Stoyanov. He added he had had a telephone conversation with the victim in the morning and made an appointment. According to him Yordan Dinov sounded quite normal and calm and did not ever tell he had received threats.
The lawyer said there are about 30-40 lawsuits against his client. The proceedings were initiated by the National Revenue Agency and Gambling Commission.
April 04, 2012
London Police crack online gaming bonus abuse scam
A man has been sentenced to three years in jail for fraudulently using international passports, identity cards and false utility bills to open various online gaming accounts to take advantage of bonus bets being offered by operators.
Andrei Osipau, 35, was apprehended following a joint investigation by detectives from the Metropolitan Police Service Gambling Unit, Project Amberhill, and the UK Gambling Commission.
In the first prosecution of its kind, Osipau was found to have commited 'Bonus Abuse', the practice of using other people's identities to open online betting accounts to take advantage of bonus bets on offer.
He also used online payment institutions to transfer the criminal gains from the online betting account and opened bank accounts under false names. Osipau is said to have made nearly £80,000 from the activity.
“This joint investigation with the Gambling Commission demonstrates the Met's commitment to combating high tech organised crime,” said Detective Inspector Ann-Marie Waller, head of the Met's Gaming Unit. “The sentence imposed by the judge today should deter anyone considering committing crime involving stolen or compromised identities."
The scam was identified on February 26th 2011 when an online betting company received two UK passports bearing different names but the same image within 12 minutes of each other. The matter was subsequently reported to the Gambling Commission who passed it on to the Gaming Unit for investigation.
Met officers initially believed the passports were sent from two addresses in Hove and Eastbourne. Further investigations established that Osipau had masked his own IP address in order to prevent his actions being discovered.
At his address, officers discovered more than 5,900 scans of passports, identity cards, utility bills and bank statements relating to individuals from countries including the U.S, Canada, Australia, New Zealand and Europe.
Osipau was sentenced yesterday to three years imprisonment at Southwark Crown Court, having pleaded guilty at an earlier hearing to five counts of fraud, eight counts of possession of articles for use in fraud and one count of transferring criminal property.
“I expect and intend that you will be deported at the end of your sentence,” Judge Loraine-Smith told Osipau after his sentencing.
Andrei Osipau, 35, was apprehended following a joint investigation by detectives from the Metropolitan Police Service Gambling Unit, Project Amberhill, and the UK Gambling Commission.
In the first prosecution of its kind, Osipau was found to have commited 'Bonus Abuse', the practice of using other people's identities to open online betting accounts to take advantage of bonus bets on offer.
He also used online payment institutions to transfer the criminal gains from the online betting account and opened bank accounts under false names. Osipau is said to have made nearly £80,000 from the activity.
“This joint investigation with the Gambling Commission demonstrates the Met's commitment to combating high tech organised crime,” said Detective Inspector Ann-Marie Waller, head of the Met's Gaming Unit. “The sentence imposed by the judge today should deter anyone considering committing crime involving stolen or compromised identities."
The scam was identified on February 26th 2011 when an online betting company received two UK passports bearing different names but the same image within 12 minutes of each other. The matter was subsequently reported to the Gambling Commission who passed it on to the Gaming Unit for investigation.
Met officers initially believed the passports were sent from two addresses in Hove and Eastbourne. Further investigations established that Osipau had masked his own IP address in order to prevent his actions being discovered.
At his address, officers discovered more than 5,900 scans of passports, identity cards, utility bills and bank statements relating to individuals from countries including the U.S, Canada, Australia, New Zealand and Europe.
Osipau was sentenced yesterday to three years imprisonment at Southwark Crown Court, having pleaded guilty at an earlier hearing to five counts of fraud, eight counts of possession of articles for use in fraud and one count of transferring criminal property.
“I expect and intend that you will be deported at the end of your sentence,” Judge Loraine-Smith told Osipau after his sentencing.
April 03, 2012
NJ bill OKs online bets from other states, nations
An Internet gambling bill approved by a New Jersey Senate committee Tuesday would let Atlantic City casinos take bets from gamblers in other states and even other countries, as long as federal and state authorities agree it's legal.
New Jersey has been racing to try to get Internet gambling up and running and stake an early claim to leadership in a potential multi-billion-dollar industry.
But even as the bill edges closer to approval, and supporters try to address legal concerns that led Gov. Chris Christie to veto it last year, its scope is growing.
The bill would allow bets to be accepted from other states and nations if the state Division of Gaming Enforcement determines it doesn't violate federal laws.
New Jersey has been racing to try to get Internet gambling up and running and stake an early claim to leadership in a potential multi-billion-dollar industry.
But even as the bill edges closer to approval, and supporters try to address legal concerns that led Gov. Chris Christie to veto it last year, its scope is growing.
The bill would allow bets to be accepted from other states and nations if the state Division of Gaming Enforcement determines it doesn't violate federal laws.
Why Nevada offers just about every type of gambling possible — except a lottery
Watching Nevadans form long lines across the California border last week, hoping to strike it rich gambling, would seem akin to Idahoans emigrating for potatoes or Wisconsinites taking a road trip for cheese. Gambling is, more than anything else, supposed to be Nevada’s franchise.
But California offers something Nevada doesn’t: lottery tickets.
Record lottery ticket sales of $1.5 billion last week for a jackpot of $640 million once again raises the question of why Nevada doesn’t participate in a lottery.
“Nevada is sending people out of state to gamble,” said Assemblyman Paul Aizley, D-Las Vegas, who authored a resolution in 2009 to change the state’s constitution. “That, to me, is crazy.”
Casinos see it differently. A lottery in Nevada would be, in their mind, competition.
The Nevada Constitution has prohibited lotteries since it was ratified in 1864. Over the past 30 years, efforts to change that have been squashed by the gaming industry at the Legislature. (Voters did change the constitution in 1990 to allow charitable groups and not-for-profits to hold small lotteries — think church raffles.)
Since 1975, the Legislature has considered a lottery resolution almost every session to start the ball rolling on a five-year process to amend the constitution. It has yet to pass.
A lottery in Nevada would bring in between $30 million and $50 million a year, according to one Legislative analysis done in 2005. Another study, by the Governor Kenny Guinn’s Task Force on Tax Policy, estimated in 2002 that it would net the state $40 million to $70 million a year.
Considering that the state has cut its budget four times since 2008, that money would by no means solve the state’s budget problems.
And gaming lobbyists said that it would cut into their business.
During a 2009 hearing, when Aizley’s proposal was in front of the Assembly, lobbyists articulated their opposition.
“It would directly compete with our business,” said Michael Alonso, a lobbyist representing Terrible Herbst, according to minutes of the hearing. “We do not think the state should be directly competing with its largest industry.”
Lesley Pittman, a lobbyist representing Station Casinos, also pointed to the government competition. “Now is not the time for the state Legislature to make a conscious choice to make it more difficult for our gaming industry to regain its financial health,” she told the committee.
Lawmakers asked if there wasn’t a way that the local operators could figure out how to make money from lottery sales.
But that math would be difficult.
Retailers in California get 6 percent of lottery ticket sales. Education gets about 50 percent to 55 percent, according to a spokesman for California Lottery.
In Nevada, the gaming tax on its largest casinos’ gambling wins is 6.75 percent.
Gov. Brian Sandoval opposes a state lottery.
“It’s not appropriate for the state to compete with our No. 1 industry,” his spokeswoman said.
MGM Resorts International Chairman and CEO Jim Murren told KSNV Channel 3 last week that he also opposes a lottery. His company creates jobs, he said.
“How many jobs does a lottery create?” he asked.
Lottery business on the other side of the border, meanwhile, is doing just fine.
Forty-three states participate in lotteries, generating $17 billion in revenue for those states.
The convenience store just across the California border at Primm is consistently the top seller of lottery tickets in California.
“And it wasn’t close,” said Alex Traverso, spokesman for California Lottery.
Aizley said he doesn’t like to see Nevada money going to buy California lottery tickets and helping fund their schools. But he has given up.
“It just doesn’t pass,” he said. “It’s not a winner for me.”
But California offers something Nevada doesn’t: lottery tickets.
Record lottery ticket sales of $1.5 billion last week for a jackpot of $640 million once again raises the question of why Nevada doesn’t participate in a lottery.
“Nevada is sending people out of state to gamble,” said Assemblyman Paul Aizley, D-Las Vegas, who authored a resolution in 2009 to change the state’s constitution. “That, to me, is crazy.”
Casinos see it differently. A lottery in Nevada would be, in their mind, competition.
The Nevada Constitution has prohibited lotteries since it was ratified in 1864. Over the past 30 years, efforts to change that have been squashed by the gaming industry at the Legislature. (Voters did change the constitution in 1990 to allow charitable groups and not-for-profits to hold small lotteries — think church raffles.)
Since 1975, the Legislature has considered a lottery resolution almost every session to start the ball rolling on a five-year process to amend the constitution. It has yet to pass.
A lottery in Nevada would bring in between $30 million and $50 million a year, according to one Legislative analysis done in 2005. Another study, by the Governor Kenny Guinn’s Task Force on Tax Policy, estimated in 2002 that it would net the state $40 million to $70 million a year.
Considering that the state has cut its budget four times since 2008, that money would by no means solve the state’s budget problems.
And gaming lobbyists said that it would cut into their business.
During a 2009 hearing, when Aizley’s proposal was in front of the Assembly, lobbyists articulated their opposition.
“It would directly compete with our business,” said Michael Alonso, a lobbyist representing Terrible Herbst, according to minutes of the hearing. “We do not think the state should be directly competing with its largest industry.”
Lesley Pittman, a lobbyist representing Station Casinos, also pointed to the government competition. “Now is not the time for the state Legislature to make a conscious choice to make it more difficult for our gaming industry to regain its financial health,” she told the committee.
Lawmakers asked if there wasn’t a way that the local operators could figure out how to make money from lottery sales.
But that math would be difficult.
Retailers in California get 6 percent of lottery ticket sales. Education gets about 50 percent to 55 percent, according to a spokesman for California Lottery.
In Nevada, the gaming tax on its largest casinos’ gambling wins is 6.75 percent.
Gov. Brian Sandoval opposes a state lottery.
“It’s not appropriate for the state to compete with our No. 1 industry,” his spokeswoman said.
MGM Resorts International Chairman and CEO Jim Murren told KSNV Channel 3 last week that he also opposes a lottery. His company creates jobs, he said.
“How many jobs does a lottery create?” he asked.
Lottery business on the other side of the border, meanwhile, is doing just fine.
Forty-three states participate in lotteries, generating $17 billion in revenue for those states.
The convenience store just across the California border at Primm is consistently the top seller of lottery tickets in California.
“And it wasn’t close,” said Alex Traverso, spokesman for California Lottery.
Aizley said he doesn’t like to see Nevada money going to buy California lottery tickets and helping fund their schools. But he has given up.
“It just doesn’t pass,” he said. “It’s not a winner for me.”
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