Sports Wager
May 20th General news ... Sports Wager was created to assist the sports bettor in properly handicapping .
Sports Wager was created to assist the sports bettor in properly handicapping .
In order to profit in from a complex game like baseball, the bettor must be as informed as possible on the ever changing statistics and trends.
Latest General News
UK CONFIRMS INTENTION TO TAX REMOTE GAMBLING
2012-03-21
British Chancellor George Osborne made it official in his budget speech this afternoon - online gambling is defined as taking place at the point of consumption, and offshore operators accessing the British market can expect secondary licensing and taxation.
The Chancellor's statement was hardly a surprise on a topic that has been widely debated and discussed in both political hearings and the media for well over a year (see previous InfoPowa reports), but observers opined that Osborne's intent appears to be to bring major UK online gambling companies back to British shores.
“Ninety per cent of online gambling consumed by our citizens is now supplied from outside the UK," Osborne said in his speech to the Commons. "And the remaining UK operations are under pressure to leave. This is clearly not fair – and not a sensible way to support jobs in Britain.”
He added that the change would help create “a more level playing-field and protect jobs.”
In delivering his Budget speech, the Chancellor noted that he would be introducing double taxation relief for remote gambling from next month.
Treasury budget documents estimate that the impact of the change will be extra tax revenues of GBP 55 million in 2014-15; GBP 240 million in 2015-16 and GBP 270 million in 2016-17, the Financial Times reported, causing observers to comment that this indicated that the implementation of the new regime may take two or more years.
The Treasury said the move to a point-of-consumption regime was in line with several other European countries and would “broaden the tax base and provide a fairer basis for competition between UK and overseas remote gambling operators”.
Remote gambling operators will now be watching for details of taxation levels and secondary licensing procedures.
The Treasury document states:
"The current taxation regime for remote gambling has allowed operators to avoid paying UK gambling duties by basing their operations abroad. To broaden the tax base and provide a fairer basis for competition between UK and overseas remote gambling operators, Budget 2012 announces that the Government will move to a tax regime that ensures operators anywhere in the world pay gambling duties on gross profits generated from customers based in the UK. This is in line with the actions of several other European countries.
"2.146 Remote gambling taxation – The Government will introduce a consumption based taxation regime for remote gambling, subject to consultation on the detail.”
TOP ONLINE BOOKIE REBRANDS IN THE U.K.
2012-01-13
BetVictor will cover all Victor Chandler business activities as in Europe
Top Gibraltar-based land and online gambling firm Victor Chandler has adopted a new brand strategy for its online operations in the UK, aligning them with those across Europe.
The group will now be identified as BetVictor across the wide range of internet gambling products it offers, including casino and poker action, in an initiative that the company says will ensure consistency and recognition across international brands.
Chairman Victor Chandler, whose grandfather founded the company in 1946, said this week, "As a company we are always innovating and moving forward, as well as extending our brand across new territories. The UK will continue to be the fulcrum of our international business and it makes perfect sense that the same brand name is used here as in foreign territories.
“I personally guarantee that we will continue to provide our superb range of betting opportunities across a comprehensive range of sporting events.”
SPECIAL WORKSHOP ON ITALIAN ONLINE GAMBLING MARKET
2011-08-04
Extra bonus for EiG delegates
If you're attending the EiG show in Milan between 19-22 September there's an added, and very relevant, bonus in store.
Organisers Clarion Gaming have acknowledged the positive developments in the Italian online gambling market by arranging an additional workshop session covering the latest regulatory changes.
Partnering with Business International, the workshop will explore lessons learnt from operating in this highly lucrative and regulated market and reveal how to get the best results as it develops further.
It will feature a local brands roundtable discussion that will explore lessons learnt, with delegates hearing first hand from representatives of Sisal and other key Italian operators on how they are positioning themselves to capitalise on the e-gaming opportunities and where they see further growth.
They will also learn what customer segments these companies are planning to tap into, and discover what opportunities exist to partner with them for future success.
The workshop will conclude with a panel discussion on the .com and .country models and which might prevail, taking into account market knowledge gained from Italy and other newly regulated jurisdictions.
Experts on the panel include Pokerstars Italian Country Manager Barbara Beltrami, Skysport365 Legal Director Francesco Baranca and William Hill Head of Internationals Wilhelm Huber.
MACAU JULY REVENUE EXCEEDS EXPECTATION
2011-08-01
Second biggest month recorded
A 48.4 percent rise in the latest gambling revenue figures released by Macau's Gaming Inspection and Coordination Bureau have exceeded analyst predictions.
Revenues from the former-Portuguese enclave were again attributed to cash-rich mainland gamblers.
July 2011 revenues of 24.2 billion patacas ($3.01 billion) were recorded, just short of record May revenues of 24.3 billion patacas, which exceeded analyst expectations of 22 to 23 billion patacas.
Year to date the region shows a 45.2 percent rise in revenue over the same period last year.
EVERYMATRIX PARTNERS WITH OLYMPIAN TRADING
2011-06-03
Deal provides sportsbetting, gaming and bingo to multiple online brands
Olympian Trading Limited, parent company to IAM Corp who represent multiple online gaming brands including GR88.com and Bulldog777.com has entered into an agreement with gaming software firm EveryMatrix for the provision of its OddsMatrix sportsbook, GamMatrix gaming management platform and RakeMatrix bingo network.
The GamMatrix gaming management platform will enable the seamless integration of third party casino products from Microgaming and CTXM as well as poker from Merge.
The online gaming brands represented in the deal will offer mobile sports betting via the new OddsMatrix Mobile Sportsbook set for launch late July 2011.
Peter Karroll, CEO, IAM Corp said: “IAM Corp is extremely excited to embark on this new adventure and partnership with the EveryMatrix products, working with them not only for the current brands but also for the future IAM Corp clients who wish to enjoy the most efficient and experienced turnkey online gaming operations available anywhere in the world.”
BUYER OF GAMBLING.COM DOMAIN STEPS FORWARD (Update)
2011-05-06
Affiliate marketing firm has big plans for online gambling portal
Media Corporation's heavily discounted sale of the domain Gambling.com last week (see previous InfoPowa report) triggered much industry speculation regarding the buyer, who at the time was not revealed.
KAX Media, a UK affiliate marketing company that runs the WSN.com sports betting portal has now come forward, confirming it is the organisation that paid $2.5 million for a domain that was acquired some years ago by Media Corp for ten times that.
A company spokesman revealed this week that KAX has aggressive plans to invest in the domain and grow the Gambling.com portal, remaining focused on the internet casino sector and, at least initially, on the UK market.
ATLANTIS INTERNET ACHIEVES AN INDIAN ADVANTAGE
2011-04-25
Online gambling firm accepted as a member of NIGA
The Atlantis Internet Group appears to be manoeuvring for position in potential online gambling opportunities among US Indian tribal groups.
The company has been accepted as a member of the National Indian Gaming Association, a Washington DC-based non-profit organization of 184 Indian Nations representing organisations, tribes and businesses engaged in tribal gaming enterprises in the United States, whose mission is to protect and preserve the general welfare of tribes striving for self-sufficiency through gaming enterprises in Indian Country.
A spokesman for the Atlantis Internet Group said this week that the company is building its business model around Indian gaming legislation that was passed by Congress in October of 2006.
"The Unlawful Internet Gaming Enforcement Act (UIGEA) makes it so consumers are not allowed to use credit cards on an offshore gambling site," the spokesman said. "However, the Act accepts people to use credit cards on Indian operated gambling sites."
Atlantis is confident that the use of its multi-state online gambling network has the potential to deliver greater prosperity to Indian tribal casino operators once legal obstacles are removed.
"The company’s business objective is to create a new brand of public gaming and entertainment which integrates music and themes in [an] online gaming experience that offers slot machines, gaming networks and online casinos," the spokesman said.
"We plan to link gaming sites from all the Indian Casinos around the country, [a plan that] has been approved by the National Indian gaming association," he continued. "ATIG will be the only poker network that is operating in more than one state. The company has developed its “Casino Gateway Network” where players can access Class III and Class II online casinos."
DISMAL YEAR FOR ATLANTIC CITY OPERATORS
2011-04-05
Profits fall again in 2010
Now in its fifth-straight year of a revenue decline brought on by the explosion of casino gambling in neighbouring states and exacerbated by the poor national economy, Atlantic City's 11 land casinos reported gross operating profit that fell by nearly 28 percent last year.
Year-end tax data released Monday by the state Division of Gaming Enforcement showed the casinos with a total gross operating profit of nearly $535 million. That's down from the nearly $730 million in gross operating profit in 2009, reports Associated Press.
The figure includes earnings before interest, taxes, depreciation and other costs, and is a widely accepted measure of profitability within the gambling industry.
David Hughes, chief financial officer for Trump Entertainment resorts, said 2010 was a tough year because it includes a half-year of financial impact from table games in Pennsylvania, which began in mid-July.
"The problem for the city as a whole has been competition and economics," Hughes said. "For 2011, I think you'll still see a decline in the market but it'll be much less."
The Borgata Hotel Casino & Spa claimed the biggest annual profit at $174.6 million, while the Atlantic City Hilton claimed the greatest financial loss at nearly $19 million.
But in percentage terms, the biggest decline was at Resorts Casino Hotel, which posted an operating loss of $18.5 million, a decline of nearly 41 percent. The casino has since gone on an expense-slashing binge, including making all its workers re-apply for their jobs at lower salaries, and is trying an array of promotions to increase business volume.