Set to commence on January 1st 2020, the 12-year agreement is valued at SEK1.8bn (€172m) and sees Unibet replace state-owned operator Svenska Spel as lead sponsor of the leagues.
The partnership was agreed with the Swedish Elite Football Association (Svensk Elitfotboll), and runs through to 2026 with an option to extend the agreement for an additional six years.
“We have only good things to say about co-operation over the years together with Svenska Spel and we are very grateful for all that Svenska Spel has done for elite football,” said Mats Enquist, secretary general of Svensk Elitfotboll. “We are also looking forward to completing the current contract period in the best way together.
“When Svenska Spel chose not to renew the agreement on acceptable terms, we had to look around at the market. We are excited that we could find this solution with Unibet and we are looking forward to the joint cooperation.”
Kindred Group general manager for Sweden, Dersim Sylwan, commented: “We are very proud to have made this historic agreement with Svensk Elitfotboll. The deal includes a significant long-term commitment to Swedish sports, an opportunity we have been fighting for during the last 20 years. We are very pleased to announce the partnership and we look forward to contributing to the development of Swedish football.”
The sponsorship agreement will see SEK150m distributed annually to Svensk Elitfotboll, with SEK100m allocated to Allsvenskan and Superettan clubs, SEK25m to talent development and integrity work, and a further SEK20m to clubs based on the wishes of Unibet customers. A further SEK5m has been earmarked for a special initiative focused on European tournaments.
“Our new agreement with Svensk Elitfotboll will give the association substantially more income compared to previous partnership deals,” added Sylwan. “The new gaming licence will finally make it possible for Swedish sports to gain market value for their partnerships, which is positive for the clubs, the associations and of course for the athletes.”
Svensk Elitfotboll chairman Lars-Christer Olsson added: “In Kindred Group, Svensk Elitfotboll sees a new serious partner who, together with us, can take responsibility for the healthy development of games in our leagues while supporting elite football development in Sweden.”
June 27, 2018
World Cup online betting is the highest it’s ever been
Sports betting is worth up to £625 billion per year, with 70% of that trade reckoned to come from football. During big sporting competitions, such as the World Cup, even more money is spent gambling than usual. Over the 2018 World Cup, bookmakers are estimated to make a profit of US$36.4 billion (£41.3 billion). And in the UK, the amount of money spent on gambling during the World Cup is expected to more than double from £1 billion in 2014 to £2.5 billion this year.
Sports gambling is being driven by the unlimited availability of online betting and the fact that no physical money is exchanged, making financial transactions seem less real. The vast amount of data that online gambling sites collect also enables them to personalise offers to individual gamblers. Instead, this data should be used to help people gamble responsibly by warning users in real-time that they are exhibiting problematic gambling behaviours.
For many people, gambling isn’t just a fun novelty every four years. About 430,000 citizens in the UK can be identified as problem gamblers. These individuals have lost hundreds of thousands of pounds online, which has impacted not only the gamblers but also their families.
High profile but infrequent betting events such as the Word Cup exacerbate the issues that problem gamblers face. Seeing others engage in betting, coupled with the advertisements from betting firms, leads problem gamblers to attempt to convince themselves that they do not have a problem. Environmental cues can also trigger the urge to gamble in those who have a gambling problem. So, the intensive advertising used by betting firms during the World Cup, along with media coverage of the World Cup in general, may further push problem gamblers towards making harmful decisions.
Online gambling sites have an infinite memory for bets – when made, for how much, regarding what, and so on. This data is a rich source that websites use for tailoring offers and marketing material to fit a gambler’s potential interests. But this personalisation exploits cognitive biases in gamblers and encourages them to increase risk-taking and by extension, gambling.
There is only a fine line between the legitimate marketing and personalisation of content and offers on the one hand and exploitation and manipulation on the other. For example, the tracking of a gambler’s betting pattern means the gambler can be targeted with offers following heavy losses, encouraging them to chase losses even further.
But this same data could also be used to support reductions in problem gambling, either led by gamblers themselves or with the support of a counsellor or software. Such transparency could enhance the image of the gambling industry and make responsible gambling a shared responsibility between gamblers and bookmakers.
In our EROGamb project, funded by GambleAware and Bournemouth University, we advocate a policy change where gambling sites provide gambling behavioural data to gamblers and their surrogates in real-time.
This data would provide an unprecedented opportunity to tackle problem gambling. For example, the data could lead to the app informing gamblers that they are exhibiting problematic gambling patterns. The real-time collection of information such as “the gambler has reached the monthly spending limit” could trigger a message visualising their past betting behaviour and a reminder of a commitment already made.
In our studies, digital addicts, including online gambling addicts, have indicated that having access to such data would act as a wake-up call, raising awareness. Digital media users, in general, like to be in control of their usage through labels and awareness tools.
Similar facilities have started to exist in mainstream digital media. For example, on Google, it is now possible to download your data and on Facebook to download your profile data history of interaction, but not currently as real-time streaming of data as actions happen.
We understand the barriers to implementing this vision. Gambling operators may not have such data readily available and may even rely on third parties to offer certain games. Some also fear that gamblers might share the data with competitor gambling sites, giving away information about marketing practices. But the General Data Protection Regulation(GDPR) right to data portability holds that gamblers shall not be prevented from accessing and sharing their data.
Given the advantages, and also the increased demand for transparency, this would eventually become the recommended practice for demonstrating advanced corporate social responsibility and inspiring the trust of the public and clients in the gambling industry. We are preparing a charter for the gambling industry towards a commitment for that.
The rise of online gambling, combined with the record amount of money being spent on gambling at this year’s World Cup makes this the perfect time to discuss what we can do to prevent and combat gambling addiction. Simply by using data to help people be better aware of their gambling habits, rather than hooking them back into their next bet, gambling sites could make a massive difference.
Sports gambling is being driven by the unlimited availability of online betting and the fact that no physical money is exchanged, making financial transactions seem less real. The vast amount of data that online gambling sites collect also enables them to personalise offers to individual gamblers. Instead, this data should be used to help people gamble responsibly by warning users in real-time that they are exhibiting problematic gambling behaviours.
For many people, gambling isn’t just a fun novelty every four years. About 430,000 citizens in the UK can be identified as problem gamblers. These individuals have lost hundreds of thousands of pounds online, which has impacted not only the gamblers but also their families.
High profile but infrequent betting events such as the Word Cup exacerbate the issues that problem gamblers face. Seeing others engage in betting, coupled with the advertisements from betting firms, leads problem gamblers to attempt to convince themselves that they do not have a problem. Environmental cues can also trigger the urge to gamble in those who have a gambling problem. So, the intensive advertising used by betting firms during the World Cup, along with media coverage of the World Cup in general, may further push problem gamblers towards making harmful decisions.
Online gambling sites have an infinite memory for bets – when made, for how much, regarding what, and so on. This data is a rich source that websites use for tailoring offers and marketing material to fit a gambler’s potential interests. But this personalisation exploits cognitive biases in gamblers and encourages them to increase risk-taking and by extension, gambling.
There is only a fine line between the legitimate marketing and personalisation of content and offers on the one hand and exploitation and manipulation on the other. For example, the tracking of a gambler’s betting pattern means the gambler can be targeted with offers following heavy losses, encouraging them to chase losses even further.
But this same data could also be used to support reductions in problem gambling, either led by gamblers themselves or with the support of a counsellor or software. Such transparency could enhance the image of the gambling industry and make responsible gambling a shared responsibility between gamblers and bookmakers.
In our EROGamb project, funded by GambleAware and Bournemouth University, we advocate a policy change where gambling sites provide gambling behavioural data to gamblers and their surrogates in real-time.
This data would provide an unprecedented opportunity to tackle problem gambling. For example, the data could lead to the app informing gamblers that they are exhibiting problematic gambling patterns. The real-time collection of information such as “the gambler has reached the monthly spending limit” could trigger a message visualising their past betting behaviour and a reminder of a commitment already made.
In our studies, digital addicts, including online gambling addicts, have indicated that having access to such data would act as a wake-up call, raising awareness. Digital media users, in general, like to be in control of their usage through labels and awareness tools.
Similar facilities have started to exist in mainstream digital media. For example, on Google, it is now possible to download your data and on Facebook to download your profile data history of interaction, but not currently as real-time streaming of data as actions happen.
We understand the barriers to implementing this vision. Gambling operators may not have such data readily available and may even rely on third parties to offer certain games. Some also fear that gamblers might share the data with competitor gambling sites, giving away information about marketing practices. But the General Data Protection Regulation(GDPR) right to data portability holds that gamblers shall not be prevented from accessing and sharing their data.
The rise of online gambling, combined with the record amount of money being spent on gambling at this year’s World Cup makes this the perfect time to discuss what we can do to prevent and combat gambling addiction. Simply by using data to help people be better aware of their gambling habits, rather than hooking them back into their next bet, gambling sites could make a massive difference.
June 22, 2018
Come on Russia! Paddy Power hits £80,000 for LGBT+ charities
Paddy Power is revelling in its World Cup 2018 charitable campaign ‘Rainbow Russians’, having racked up £80,000 in donations for LGBT and equality/inclusivity causes.
In partnership with Attitude Magazine’s ‘Foundation’, Paddy Power launched Rainbow Russians’ at the start of Russia 2018, detailing that the bookmaker would challenge LGBT+ prejudices and homophobia in football.
The charitable campaign sees Paddy Power ‘Put-in’ £10,000 to Attitude Magazine’s Foundation for every goal Russia scores during its World Cup 2018 campaign.
Following Russia’s 3-1 win over Egypt on Tuesday night, Paddy Power has raised £80,000 in donations, as an unfancied Sbornaya has delivered for the bookmaker.
Commenting on the campaign, Amy Jones Paddy Power’s PR & UK Mischief Maker detailed; “Following the host’s first game against Saudi Arabia – where they netted five – it was announced that £10,000 of the money will fund 20 members of the LGBT+ community to become fully qualified referees.”
So, thank you to Denis Cheryshev (who has topped up the fund by £30,000 himself so far), Artem Dzyuba and Ahmed Fathi’s own goal last night for their contributions to the campaign…Just keep on scoring lads!”
In partnership with Attitude Magazine’s ‘Foundation’, Paddy Power launched Rainbow Russians’ at the start of Russia 2018, detailing that the bookmaker would challenge LGBT+ prejudices and homophobia in football.
The charitable campaign sees Paddy Power ‘Put-in’ £10,000 to Attitude Magazine’s Foundation for every goal Russia scores during its World Cup 2018 campaign.
Following Russia’s 3-1 win over Egypt on Tuesday night, Paddy Power has raised £80,000 in donations, as an unfancied Sbornaya has delivered for the bookmaker.
Commenting on the campaign, Amy Jones Paddy Power’s PR & UK Mischief Maker detailed; “Following the host’s first game against Saudi Arabia – where they netted five – it was announced that £10,000 of the money will fund 20 members of the LGBT+ community to become fully qualified referees.”
So, thank you to Denis Cheryshev (who has topped up the fund by £30,000 himself so far), Artem Dzyuba and Ahmed Fathi’s own goal last night for their contributions to the campaign…Just keep on scoring lads!”
32Red handed £2 million penalty for failing to protect high-staking customer
Online bookmaker 32Red have been fined £2 million by the UK Gambling Commission after failing to protect a problem punter.
Between November 2014 and April 2017, the customer was allowed to deposit a total of £758,000, without the appropriate social responsibility and money laundering checks carried out.
Instead of checking whether the customer needed help with their problem, it was revealed that 32Red staff instead applied bonuses to the customer's account – despite 22 instances indicating he was a problem gambler.
The customer had told staff they were frustrated with their losses, and were chasing them. They also expressed concerns about the amounts they were spending.
It was revealed during the investigation that 32Red failed to check that the customer could afford their level of spending.
The customer's account was not reviewed until January 2017, as a result of unusual play suggestive of possible problem gambling – a seven-figure win, which was instantly replayed.
Gambling Commission executive director Richard Watson said: "Instead of checking on the welfare of a customer displaying problem gambling behaviour, 32Red encouraged the customer to gamble more – this is the exact opposite of what they are supposed to be doing.
"Operators must take action when they spot signs of problem gambling and should be carefully reviewing all the customers they are having a high level of contact with.
"Protecting consumers from gambling-related harm is a priority for us and where we see operators failing in their responsibility to keep their customers safe we will take tough action."
Between November 2014 and April 2017, the customer was allowed to deposit a total of £758,000, without the appropriate social responsibility and money laundering checks carried out.
Instead of checking whether the customer needed help with their problem, it was revealed that 32Red staff instead applied bonuses to the customer's account – despite 22 instances indicating he was a problem gambler.
The customer had told staff they were frustrated with their losses, and were chasing them. They also expressed concerns about the amounts they were spending.
It was revealed during the investigation that 32Red failed to check that the customer could afford their level of spending.
The customer's account was not reviewed until January 2017, as a result of unusual play suggestive of possible problem gambling – a seven-figure win, which was instantly replayed.
Gambling Commission executive director Richard Watson said: "Instead of checking on the welfare of a customer displaying problem gambling behaviour, 32Red encouraged the customer to gamble more – this is the exact opposite of what they are supposed to be doing.
"Operators must take action when they spot signs of problem gambling and should be carefully reviewing all the customers they are having a high level of contact with.
"Protecting consumers from gambling-related harm is a priority for us and where we see operators failing in their responsibility to keep their customers safe we will take tough action."
June 21, 2018
Severe online restrictions see change at Norwegian regulator
Norwegian gambling regulator Lotteri- og Stiftelsestilsynet has reappointed Gunn Merete Paulsen as its Director General, as pressure increases on the government to further restrict remote online gambling services.
Paulsen retakes leadership of the regulator, replacing former incumbent Atle Hamar who has been repositioned as Norway’s Environment Secretary. A former PWC executive, Paulsen had served as Deputy Director General of Lotteri- og stiftelsestilsynet from 2011-2015.
At present, Norwegian gambling policy is facing an extensive shake-up demanded by a coalition of political parties which has secured a mandate to implement severe restrictions on foreign online gambling services targeting national consumers.
Last April, the joint online gambling mandate developed by the coalition of Norway’s Labour, Christian Peoples, Socialist Left and Centrist Parties’ was approved by Storting (Norway’s legislative assembly).
Critical of the government’s stance on unlicensed remote gambling operators being able to service Norwegian consumers, the coalition has put forward severe restrictions on banking transactions, advertising services, stiffer penalties and IP blocks.
The supporting parties have detailed that the provisions aim to tighten Norway’s gambling framework, whilst further supporting state-owned gambling operator Norsk Tipping’s charitable contributions.
Furthermore, management of Norway’s Sovereign Wealth Fund has been criticised for investing in foreign online gambling operators, a move deemed to have undermined Norsk Tipping’s position as a state-owned charitable enterprise.
This Tuesday Norway’s parliament referred its pending industry changes to the European Commission, seeking approval to implement the restrictions on European licensed operators.
As a member of the European Economic Area (EEA), Norway will have to adhere to European Union legislation on digital services.
However, in December 2017 the European Union announced that it would no longer allow its legal courts to adjudicate online gambling disputes within member states.
Following the EC’s pending review, Norwegian policy stakeholders believe that the new restrictions will be implemented by January 2019.
Paulsen retakes leadership of the regulator, replacing former incumbent Atle Hamar who has been repositioned as Norway’s Environment Secretary. A former PWC executive, Paulsen had served as Deputy Director General of Lotteri- og stiftelsestilsynet from 2011-2015.
At present, Norwegian gambling policy is facing an extensive shake-up demanded by a coalition of political parties which has secured a mandate to implement severe restrictions on foreign online gambling services targeting national consumers.
Last April, the joint online gambling mandate developed by the coalition of Norway’s Labour, Christian Peoples, Socialist Left and Centrist Parties’ was approved by Storting (Norway’s legislative assembly).
Critical of the government’s stance on unlicensed remote gambling operators being able to service Norwegian consumers, the coalition has put forward severe restrictions on banking transactions, advertising services, stiffer penalties and IP blocks.
The supporting parties have detailed that the provisions aim to tighten Norway’s gambling framework, whilst further supporting state-owned gambling operator Norsk Tipping’s charitable contributions.
Furthermore, management of Norway’s Sovereign Wealth Fund has been criticised for investing in foreign online gambling operators, a move deemed to have undermined Norsk Tipping’s position as a state-owned charitable enterprise.
This Tuesday Norway’s parliament referred its pending industry changes to the European Commission, seeking approval to implement the restrictions on European licensed operators.
As a member of the European Economic Area (EEA), Norway will have to adhere to European Union legislation on digital services.
However, in December 2017 the European Union announced that it would no longer allow its legal courts to adjudicate online gambling disputes within member states.
Following the EC’s pending review, Norwegian policy stakeholders believe that the new restrictions will be implemented by January 2019.
June 12, 2018
Portugal’s Santa Casa lottery launches online sports betting
Portugal’s sports bettors have one more online wagering option after the local regulator approved the country’s 13th licensee.
On Friday, the Serviço Regulação e Inspeção de Jogos do Turismo de Portugal (SRIJ) regulatory body announced that it had issued an online sports betting license to SAS Social Betting, Gaming and Gambling Online, SA. The company will operate using the Placard.pt domain, which officially launched on Monday.
Placard is the offline betting brand of state lottery monopoly Santa Casa da Misericordia de Lisboa (SCML), which was the primary antagonist against international gambling sites before Portugal liberalized its online market in 2015.
Santa Casa originally announced its intentions to apply for a sports betting license over two years ago. Launching just days before the 2018 FIFA World Cup kicks off, SCML is apparently banking on familiarity with its Placard brand to allow it to hoover up a sufficient volume of customers without a lot of advance marketing work.
SCML holds a 54% stake in SAS, with minority stakes held by the Portuguese Misericordia Union, the Montepio Geral Foundation, Caritas Portuguesa and the Associação dos Cegos e Amblíopes de Portugal (ACAPO).
Placard makes Portugal’s fifth online betting license, joining Betclic Everest Group, Bet Entertainment Technologies, Casino Portugal, Estoril Sol and Cofina Media’s A Nossa Aposta brand, which received its online sports betting approval in March to go with the online casino license it was granted last October.
Sports betting is the dominant vertical in Portugal’s regulated market despite the onerous tax on betting turnover that averages 12%. Sports betting revenue was flat in the SRIJ’s most recent quarterly report, although that figure is expected to spike in the current quarter with the volume of World Cup wagers.
Portuguese-licensed online gambling operators generated combined revenue of €122.5m in 2017, more than twice the sum generated in the limited window of licensed activity in 2016. Still, online represented only a small fraction of the overall Portuguese gaming market revenue of €3.52b in 2017, of which over €3b came via SCML’s lotteries.
Last November, Santa Casa imposed new restrictions on its Placard product, limiting punters to a single betting slip (stamped with the bettor’s tax number) and a daily wagering limit of €5k per punter.
On Friday, the Serviço Regulação e Inspeção de Jogos do Turismo de Portugal (SRIJ) regulatory body announced that it had issued an online sports betting license to SAS Social Betting, Gaming and Gambling Online, SA. The company will operate using the Placard.pt domain, which officially launched on Monday.
Placard is the offline betting brand of state lottery monopoly Santa Casa da Misericordia de Lisboa (SCML), which was the primary antagonist against international gambling sites before Portugal liberalized its online market in 2015.
Santa Casa originally announced its intentions to apply for a sports betting license over two years ago. Launching just days before the 2018 FIFA World Cup kicks off, SCML is apparently banking on familiarity with its Placard brand to allow it to hoover up a sufficient volume of customers without a lot of advance marketing work.
SCML holds a 54% stake in SAS, with minority stakes held by the Portuguese Misericordia Union, the Montepio Geral Foundation, Caritas Portuguesa and the Associação dos Cegos e Amblíopes de Portugal (ACAPO).
Placard makes Portugal’s fifth online betting license, joining Betclic Everest Group, Bet Entertainment Technologies, Casino Portugal, Estoril Sol and Cofina Media’s A Nossa Aposta brand, which received its online sports betting approval in March to go with the online casino license it was granted last October.
Sports betting is the dominant vertical in Portugal’s regulated market despite the onerous tax on betting turnover that averages 12%. Sports betting revenue was flat in the SRIJ’s most recent quarterly report, although that figure is expected to spike in the current quarter with the volume of World Cup wagers.
Portuguese-licensed online gambling operators generated combined revenue of €122.5m in 2017, more than twice the sum generated in the limited window of licensed activity in 2016. Still, online represented only a small fraction of the overall Portuguese gaming market revenue of €3.52b in 2017, of which over €3b came via SCML’s lotteries.
Last November, Santa Casa imposed new restrictions on its Placard product, limiting punters to a single betting slip (stamped with the bettor’s tax number) and a daily wagering limit of €5k per punter.
May 21, 2018
Pachinko not ‘morally’ suitable for Japan’s casinos, lawmaker says
A Japanese lawmaker has a beef with pachinko. Takashi Takai, of the Constitutional Democratic Party of Japan, has created a laundry list of questions for the government that questions the pachinko industry’s “moral fitness” in casinos. His main argument is that the game is the primary root of addiction in the country, and that the industry does virtually nothing to protect consumers.
Pachinko machines don’t reward money directly. They reward captured balls for tickets, which are subsequently traded for money elsewhere. To many, this helps the hybrid slot/pinball machine avoid the classification of being a gambling game but, rather, one of amusement. However, with the possible spread of casinos in Japan, lawmakers are revisiting the industry and have, so far, introduced lower payouts to the games.
In 2015, the pachinko industry dealt with a scandal that involved tampering of the machines. The ensuing government investigation, according to Takei, is a good enough reason to consider the validity of the machines in casinos. He was quoted by Asia Gaming Brief saying, “Considering that there was a major tampering case by pachinko makers from a mere three years ago, I believe we must take a strict view towards their participation in the casino industry. Also, the National Public Safety Commission, as well as the prefectural public safety commissions, have proven themselves unable to prevent large-scale tampering by the pachinko makers and therefore it is inappropriate to have them supervise the casino business.”
Takei should rest easy in knowing that the industry is already on life support. Last year, 420 pachinko cafes—one out of every 25—shut down. Additionally, 177 companies went belly-up, roughly 5% of all the operators in the country. There has been a decline in interest for a number of years as millennials seek out more exciting opportunities. Perhaps he should just let the industry have its remaining days in peace and let it die happy.
Pachinko machines don’t reward money directly. They reward captured balls for tickets, which are subsequently traded for money elsewhere. To many, this helps the hybrid slot/pinball machine avoid the classification of being a gambling game but, rather, one of amusement. However, with the possible spread of casinos in Japan, lawmakers are revisiting the industry and have, so far, introduced lower payouts to the games.
In 2015, the pachinko industry dealt with a scandal that involved tampering of the machines. The ensuing government investigation, according to Takei, is a good enough reason to consider the validity of the machines in casinos. He was quoted by Asia Gaming Brief saying, “Considering that there was a major tampering case by pachinko makers from a mere three years ago, I believe we must take a strict view towards their participation in the casino industry. Also, the National Public Safety Commission, as well as the prefectural public safety commissions, have proven themselves unable to prevent large-scale tampering by the pachinko makers and therefore it is inappropriate to have them supervise the casino business.”
Takei should rest easy in knowing that the industry is already on life support. Last year, 420 pachinko cafes—one out of every 25—shut down. Additionally, 177 companies went belly-up, roughly 5% of all the operators in the country. There has been a decline in interest for a number of years as millennials seek out more exciting opportunities. Perhaps he should just let the industry have its remaining days in peace and let it die happy.
May 17, 2018
UK Government Slash FOBT Stake To £2
The UK Government has announced that Fixed Odds Betting Terminals (FOBTs) will have the maximum stake reduced from the current level of £100 to £2, which was the biggest fear for bookmakers.
Sports Minister Tracey Crouch who made the announcement said that a high number of people seeking treatment for addiction say FOBTs are “their main form of gambling”.
It is estimated that the UK Treasury will lose £1.1 billion over three years with the reduction and many bookmakers affected say that thousands of jobs will be lost along with many retail outlets closing.
However The Minister for Sport went on to say about the reduction: “Following analysis of the evidence received at consultation, £2 has been found to be the stake limit that would most substantially impact on harm by reducing the ability to suffer high session losses, while also targeting the greatest proportion of problem gamblers, and mitigating risk for the most vulnerable players for whom even moderate losses might be harmful.
Ms Crouch added: “Even cutting to £10 would leave problem gamblers, and those most vulnerable, exposed to losses that would cause them and their families significant harm.”
The announcement from the government did not say when the reduction will come into force, William Hill had been asking for a one year time limit on the change.
Sports Minister Tracey Crouch who made the announcement said that a high number of people seeking treatment for addiction say FOBTs are “their main form of gambling”.
It is estimated that the UK Treasury will lose £1.1 billion over three years with the reduction and many bookmakers affected say that thousands of jobs will be lost along with many retail outlets closing.
However The Minister for Sport went on to say about the reduction: “Following analysis of the evidence received at consultation, £2 has been found to be the stake limit that would most substantially impact on harm by reducing the ability to suffer high session losses, while also targeting the greatest proportion of problem gamblers, and mitigating risk for the most vulnerable players for whom even moderate losses might be harmful.
Ms Crouch added: “Even cutting to £10 would leave problem gamblers, and those most vulnerable, exposed to losses that would cause them and their families significant harm.”
The announcement from the government did not say when the reduction will come into force, William Hill had been asking for a one year time limit on the change.
May 15, 2018
US sports betting ban overturned
The federal ban on sports betting across the US has been overturned by the country’s Supreme Court.
The court today (Monday) ruled in favour of the state of New Jersey in its long-running bid to overturn the 1992 Professional and Amateur Sports Protection Act (PASPA).
PASPA had blocked states from offering regulated sports wagering services, with the exception of Nevada. Oregon, Delaware and Montana were also exempt.
New Jersey has been campaigning for a number of years for the ban to be withdrawn, highlighting the prevalence of illegal sports betting across the US as one of its main arguments.
The Supreme Court was seemingly in agreement with New Jersey, voting 7-2 in favour of voiding PASPA and also upholding a 2014 state law that permitted sports betting and casinos and racecourses in New Jersey.
The move effectively breaks Nevada’s monopoly on sports betting in the US and in turn opens up a much wider market.
The Stars Group’s share price is up 9%, with Paddy Power Betfair, Caesars and William Hill all rising by more than 6% in the immediate aftermath.
A number of leading operators have campaigned alongside New Jersey for the laws to be changed.
Various professional sports leagues including the National Basketball Association, Major League Baseball and the PGA Tour have also stated their backing for an expanded, regulated market.
According to USA Today, Justice Samuel Alito, a New Jersey native who wrote the court’s opinion in the case, said: “Congress can regulate sports gambling directly, but if it elects not to do so, each state is free to act on its own.
“Our job is to interpret the law Congress has enacted and decide whether it is consistent with the Constitution. PASPA is not.”
The American Gaming Association said: “Today’s decision is a victory for the millions of Americans who seek to bet on sports in a safe and regulated manner. According to a Washington Post survey, a solid 55 percent of Americans believe it’s time to end the federal ban on sports betting.
"Today’s ruling makes it possible for states and sovereign tribal nations to give Americans what they want: an open, transparent, and responsible market for sports betting. Through smart, efficient regulation this new market will protect consumers, preserve the integrity of the games we love, empower law enforcement to fight illegal gambling, and generate new revenue for states, sporting bodies, broadcasters and many others.
"The AGA stands ready to work with all stakeholders – states, tribes, sports leagues, and law enforcement – to create a new regulatory environment that capitalizes on this opportunity to engage fans and boost local economies.”
The court today (Monday) ruled in favour of the state of New Jersey in its long-running bid to overturn the 1992 Professional and Amateur Sports Protection Act (PASPA).
PASPA had blocked states from offering regulated sports wagering services, with the exception of Nevada. Oregon, Delaware and Montana were also exempt.
New Jersey has been campaigning for a number of years for the ban to be withdrawn, highlighting the prevalence of illegal sports betting across the US as one of its main arguments.
The Supreme Court was seemingly in agreement with New Jersey, voting 7-2 in favour of voiding PASPA and also upholding a 2014 state law that permitted sports betting and casinos and racecourses in New Jersey.
The move effectively breaks Nevada’s monopoly on sports betting in the US and in turn opens up a much wider market.
The Stars Group’s share price is up 9%, with Paddy Power Betfair, Caesars and William Hill all rising by more than 6% in the immediate aftermath.
A number of leading operators have campaigned alongside New Jersey for the laws to be changed.
Various professional sports leagues including the National Basketball Association, Major League Baseball and the PGA Tour have also stated their backing for an expanded, regulated market.
According to USA Today, Justice Samuel Alito, a New Jersey native who wrote the court’s opinion in the case, said: “Congress can regulate sports gambling directly, but if it elects not to do so, each state is free to act on its own.
“Our job is to interpret the law Congress has enacted and decide whether it is consistent with the Constitution. PASPA is not.”
The American Gaming Association said: “Today’s decision is a victory for the millions of Americans who seek to bet on sports in a safe and regulated manner. According to a Washington Post survey, a solid 55 percent of Americans believe it’s time to end the federal ban on sports betting.
"Today’s ruling makes it possible for states and sovereign tribal nations to give Americans what they want: an open, transparent, and responsible market for sports betting. Through smart, efficient regulation this new market will protect consumers, preserve the integrity of the games we love, empower law enforcement to fight illegal gambling, and generate new revenue for states, sporting bodies, broadcasters and many others.
"The AGA stands ready to work with all stakeholders – states, tribes, sports leagues, and law enforcement – to create a new regulatory environment that capitalizes on this opportunity to engage fans and boost local economies.”
May 04, 2018
Writer Halts Book on Poker After Winning $86,000 Playing Poker
Most of us entertain fantasies of ditching our lowly, soul-crushing jobs and making it as the next Timothée Chalamet or Russell Westbrook or Cardi B or whatever, though we know deep down that most of us never will. In lieu of those talents, we work away as bartenders or salesmen or, you know, bloggers, and we deal with it. But one woman proved that it doesn't take otherworldly, innate skill to leap from the humdrum world of the everyday into a higher, more thrilling plane—that with a little hard work and a little luck, you can hit the big time doing something you don't know a damn thing about.
This heroine—this ray of hope in the darkness—is Maria Konnikova, a New Yorker contributor who decided to write a book about high-stakes poker. She teamed up with Erik Seidel—a Poker Hall of Famer who's made more than $34 million playing—who let her shadow him, showed her the ropes, and got her going on a career of her own.
She came into the world of poker "as someone who’d never had any experience with the game,” and started out playing small, $20 and $40 tournaments and never winning much, Poker News reports. Then, with Seidel's guidance, she got better—shared higher-stakes tables with good players at serious Las Vegas casinos like the ARIA, and walked away from a few games with upwards of $2,000. Pretty soon, she was playing major tournaments.
As if that's not sick enough on its own, less than a year after she'd picked up the game, she struck gold. In January, at a national championship in the Bahamas, she beat out 230 other players and came out on top—winning $86,400 from a game she'd started playing from scratch, as an experiment, to research a book.
Now, according to Poker News, she's making so much goddamn money playing poker that she's putting the whole writing thing on the back burner—pushing her book schedule back, and living it up in the lucrative world of professional gambling. And apparently, the move is paying off—she just won $57,519 at a tournament in Macau, where she came in second. She also recently touched down in Monaco, where she ponied up $25,000 at a tournament for a chance to win, oh, who knows, somewhere in the range of millions of fucking dollars.
Maria Konnikova did it. She peaced the hell out of her job, tried her hand at some wild-ass hobby she didn't have a lick of experience with, crushed it, and now, she's unbelievably rich! Let her be an inspiration to us all. I don't know about you, but it's time for me to go learn Texas hold 'em.
This heroine—this ray of hope in the darkness—is Maria Konnikova, a New Yorker contributor who decided to write a book about high-stakes poker. She teamed up with Erik Seidel—a Poker Hall of Famer who's made more than $34 million playing—who let her shadow him, showed her the ropes, and got her going on a career of her own.
She came into the world of poker "as someone who’d never had any experience with the game,” and started out playing small, $20 and $40 tournaments and never winning much, Poker News reports. Then, with Seidel's guidance, she got better—shared higher-stakes tables with good players at serious Las Vegas casinos like the ARIA, and walked away from a few games with upwards of $2,000. Pretty soon, she was playing major tournaments.
As if that's not sick enough on its own, less than a year after she'd picked up the game, she struck gold. In January, at a national championship in the Bahamas, she beat out 230 other players and came out on top—winning $86,400 from a game she'd started playing from scratch, as an experiment, to research a book.
Now, according to Poker News, she's making so much goddamn money playing poker that she's putting the whole writing thing on the back burner—pushing her book schedule back, and living it up in the lucrative world of professional gambling. And apparently, the move is paying off—she just won $57,519 at a tournament in Macau, where she came in second. She also recently touched down in Monaco, where she ponied up $25,000 at a tournament for a chance to win, oh, who knows, somewhere in the range of millions of fucking dollars.
Maria Konnikova did it. She peaced the hell out of her job, tried her hand at some wild-ass hobby she didn't have a lick of experience with, crushed it, and now, she's unbelievably rich! Let her be an inspiration to us all. I don't know about you, but it's time for me to go learn Texas hold 'em.
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