Will Greece Keep its Online Gambling Tax at 35 Percent?

Posted by admin | Casino Affiliates | Wednesday 31 January 2018 3:15 pm


Anyone who is still thinking that Greek online gambling operators will be able to dodge a sky high 35 percent tax on their revenue is likely in for a big disappointment. Earlier this week, a US consultant contracted by the Greek government to study the matter issued a report recommending that the controversial tax plan be implemented as soon as possible.

The report, which was commissioned by the Greek government and undertaken by the consulting group Grant Thornton, is a big blow for operators who were hoping that the long-promised Greek gaming reform effort would shake out in their favor. It’s generally agreed in the online gambling industry that this tax structure would also lessen interest in the other big aspect of the Grant Thornton report, a proposed new gaming license structure.

Under the proposed new licensing scheme operators could get either a Type A license, which would just cover sportsbooks; or they could get a Type B license, which would be for casino operators.

As for how many licenses the government should actually issue, the consultants wouldn’t say exactly. What they were willing to say is that Greece should not impose an arbitrary limit on the number of licenses it issues. Also, they suggested that the licensing fee be set at €500,000 with annual maintenance fees of €50,000. Those licenses would be good for a seven year period and licensees would be required to maintain a server presence in Greece during that time.

Of course the big question now is whether or not there would be much in interest from operators in the Greek market, what with the 35 percent tax and all.

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$530 Million Bitcoin Heist Leaves Investors Holding the Bag

Posted by admin | Casino Affiliates | Monday 29 January 2018 3:16 pm


Coincheck, a Japan-based cryptocurrency exchange, is reeling after being hit by hackers who looted $ 530 million worth of bitcoin from 260,000 site users. The electronic heist is the largest known grab of electronic cash on record and is sending shock waves through the bitcoin world.

Word of the heist emerged this weekend and was reported on extensively by CNN and other financial news outlets.

Officials at Coincheck, which is billed as “the leading bitcoin and cryptocurrency exchange in Asia, claim that they’ll refund at least part of the stolen bitcoin though it’s not clear where they would come up with the cash it fulfill that promise. As of this writing, the site has access to around $ 426 million in funds available to reimburse its users. Company officials have not yet responded to media inquiries about where the extra payback cash is coming from.

In a blog post regarding the matter, company officials offered an apology saying:

We realize that this illicit transfer of funds from our platform and the resulting suspension in services has caused immense distress to our customers, other exchanges, and people throughout the cryptocurrency industry, and we would like to offer our deepest and humblest apologies to all of those involved.

One thing that’s less murky than where the payback money is coming is the fact that the folks at Coincheck are going to be spending a lot of time with government investigators in the days and weeks ahead. According to CNN, government regulators and investigators are already at Coincheck investigating the heist and overseeing the remittance process.

Prior to this weekend’s attack, the largest bitcoin heist in history was the looting of Mt Gox in which hackers made off with more than $ 400 million in electronic cash.

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UK Gambling Regulators Ready to Drop the Hammer on Ad Code Violators

Posted by admin | Casino Affiliates | Saturday 27 January 2018 3:16 pm


The UK Gambling Commission (UKGC) is getting ready to make good on its promise to crack down on gambling operators who violate its advertising code. Late this week the Commission released a series of proposed new standards, and penalties, that could radically reshape the face of UK gambling advertising.

Among the proposals under consideration are some subtle, but significant tweaks the language contained within the standards. For example, under the category of socially responsible marketing activity, regulators have turned the word, “should” into the word “must.” As in, “operators must not create socially irresponsible marketing campaigns that are aimed at minors.”

Another small change that could have major impact, that was pointed out by writers at CalvinAyre.com, concerns the wild world of bonus offers. In the old code, operators were merely required to, “satisfy themselves,” that their bonus weren’t misleading. That freedom, which has been badly abused, would be a thing of the past under the proposed code which states that, “licensees must ensure,” that their offers aren’t misleading.

These minor-but-major changes mean that the days of firing off an off-color tweet or edgy online advertisement could be ending in the UK. For operators like Paddy Power, who have turned edgy marketing into something of an art form, this could cause a real chilling effect. After all, it seems like most UK operators don’t mind a scolding or a slap on the wrist for ads that feature wisecracks that might not play in most workplaces. Those marketing pieces might not find their way to the public sphere if the fines were more significant or if gaming licenses were put in jeapordy.

The new codes have not been approved by gambling commissioners and can be viewed in full at the UKGC website.

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Duterte Picks Notorious Gambler to Combat Illegal Gambling

Posted by admin | Casino Affiliates | Thursday 25 January 2018 3:14 pm


If the expression, “It takes a thief to catch a thief,” is true, could it also be possible to say, “it takes a gambler to combat illegal gambling?” In the beleaguered Philippines, President Rodrigo Duterte is about to find out.

Earlier this week, Duterte make a public statement declaring that he had been in contact with a man named Atong Ang in an effort to help combat illegal gambling in the island nation. Ang is an intriguingly odd pick as he is widely regarded as one of the top gamblers in the nation. Ang is also known to have ties to the country’s extensive illegal gambling industry.

So would this be a case of the fox guarding the hen house? Or is Duterte just crazy like a fox? In an interview with the Sun Star Manila, Duterte explained the situation saying:

I called him. I told him, ‘Atong, you are the number one gambler here in Davao. You operated all (the gambling facilities here). Let’s not fool each other. You go to the PCSO (Philippine Charity Sweepstakes Office), stop all your illegal activities, and help the government.

Atong recently appeared before a Philippines Senate inquiry into problems that have been plaguing PCSO for quite some time. Ang recommended that control of the lottery be taken out of local hands and be controlled from a higher level.

Ang is not likely to be a popular figure at PCSO, he was recently accused of offering nearly $ 4 million in bribes to PCSO board members in exchange for control of lucrative small town lotteries.

As of this writing, Ang had not publicly responded to Duterte’s statement.

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UK Horse Racing Industry Says ‘Whoa’ to Proposed FOBT Minimums

Posted by admin | Casino Affiliates | Tuesday 23 January 2018 3:14 pm


An effort by UK lawmakers to limit the maximum wager at fixed-odds betting terminals (FOBT) is meeting resistance from some of the very people it’s designed to protect.

Earlier this week, representatives of the British Horseracing Authority (BHA) came out against the effort being made by secretary of the Department for Culture, Media and Sport (DCMS) Matthew Hancock to reduce the maximum wager at any FOBT to just £2. (The current maximum wager on the controversial machines is £100.)

FOBTs are hugely controversial in the UK and have been likened to addictive drugs like crack by their critics. The idea of reducing the maximum wager size on them has some pretty high level backers, including Labour leader Jeremy Corbyn who tweeted his support for the measure saying:

I hope the Government’s review into gambling will result in action to tackle highly addictive Fixed Odds Betting Terminals. Labour is committed to reducing the maximum stake from £100 to £2 a spin.

The idea of reducing wager size, and consequently revenue was less popular in the UK gaming industry and the investors who trade in its shares. As word of the proposed reduction spread, shares of gaming industry companies began falling. William Hill took the worst beating of the day with a loss of 11 percent.

In a statement to the press, as reported on by the UK Guardian, a representative of Ladbrokes said that the measure would have, “serious consequences,” for the entire UK gambling industry.

Even the BHA, which is supposedly in competition with FOBT operators, came out in opposition of the proposal. In its own statement to the press, BHA Executive Director Will Lambe said the drop in wager size would have a significant, negative impact on horseracing, which relies on taxes raised by other forms of gambling.

As of this writing, the effort to limit wager sizes on FOBTs has not formally been presented to lawmakers and is still under review.

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WinView Creates New Niche in US Sports Betting Market

Posted by admin | Casino Affiliates | Monday 22 January 2018 4:26 pm

The US sports betting ban is becoming more and more porous as companies like DraftKings, FanDuel, and now WinView are proving. WinView is a Silicon Valley-based startup that’s looking to disrupt the sports betting scene with a unique business model that emphasizes in-play predictions.

WinView’s operation is pretty original, but is based on familiar models nonetheless. Here’s how it works, contests pit groups of players against each other as they attempt to predict what’s going to happen in a sporting event in real time. It’s a concept that draws elements from traditional daily fantasy sports contests and slaps them on a fast-paced in-play wagering format.

The key to WinView’s current model is that most of their contests are free-to-play. Players earn virtual currency that can be cashed in for cash and prizes. The company is slowly rolling out a paid contest format in states where they can legally get away with it. As of this writing, WinView’s paid contests are available in 31 US States.

Because they, mostly, don’t take fees WinView is currently earning its revenue from advertising. While that’s the model today, company officials have made it clear that could change if the Supreme Court issues a favorable ruling in the New Jersey sports betting case.

To further stay ahead of any suggestion that their company is actually offering some form of actual sports betting, WinView has avoided offering contests on college sports.

WinView officials are also confident that their fast-paced business model will do end-run around the shark problem that’s plaguing FanDuel and DraftKings because their analytics techniques won’t work for in-play contests. (For now anyways.)

WinView’s free contests are currently available in 50 US States.

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Tasmanian Liberals Stand Up as Pokie Protection Party

Posted by admin | Casino Affiliates | Thursday 11 January 2018 3:15 pm


As election time looms in Australia, the Tasmanian Liberal Party has a message for voters; pokies are perfectly legal and should not be banned. It’s a hot topic in the Australian state where Labor would like to ban pokies and say goodbye to the machines (and the tax revenue they generate) by 2023.

The Liberal Party’s support for pokies was reported on by the Australian Financial Review, early this week and is expected to be a hot topic come election time, which occurs this March in Tasmania. In an interview with the paper, Tasmanian Premier Will Hodgman, a Liberal Party member, affirmed his party’s support for keeping the popular poker machines saying:

We respect the fact the gaming and gambling is a lawful activity.

We fundamentally believe that Tasmanians should be able to exercise choice and to participate in gambling activities in its various forms.

We are not a government or political party that believes in dictating to people.

What the Liberal Party does not support, however, is the Federal Group’s current monopoly on pokies which is scheduled to last until 2023. In that same interview, Hodgman vowed to take the monopoly out of the hands of the Federal Group, which also owns the only two casinos in Tasmania, and put the power of pokies in the hands of individuals. Under the Liberal plan, Tasmania would have up to 2350 pokies operated by individuals licensed for 20 years on each machine.

Tasmania’s Labour Party, on the other hand, has vowed to ban pokies outright in 2023, assuming they’re in power at the time.

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Indiana Sports Betting Bill Includes Payoff to Sports Leagues

Posted by admin | Casino Affiliates | Tuesday 9 January 2018 3:15 pm

An Indiana lawmaker is looking to make regulated sports betting more appealing to professional sports leagues by including a one percent “integrity fee” in his latest effort to legislate legal wagering. The fee would be collected by operators and used by the leagues to combat the kind of game-fixing that doesn’t really flourish in the regulated environment.

HB 1325, which was introduced by ndiana Rep. Alan Morrison would allow for Indiana gaming operators to offer sports betting to players, should the federal government approve the move. The bill also includes language that would require those same operators to pay one percent of the handle on each sport to the “governing body” of that sport. In layman’s terms, that means that professional sports leagues would get one percent of the handle on any given game.

Indiana’s take on paying off sports leagues to get their buy in on regulated sports betting is fairly unique and completely untested in the United States. Spokesmen from the NBA and MLB, the two most sports-betting friendly American leagues, have not commented on the proposal.

The integrity fee would be collected in addition to a whopping 9.25 percent revenue tax on sports betting operators. This rate is through the roof compared to the 6.25 percent that the State of Nevada collects on revenue (along with a .25 percent integrity fee that’s forwarded to the Feds).

While a number of US States are considering adding regulated sports betting to their gaming menu, should the US Supreme Court approve it, so far Indiana is the only one attempting to work with sports leagues on the deal. A similar sports betting bill is winding its way through the Indiana House, without the integrity fee.

The US Supreme Court is expected to rule on regulated sports betting some time this spring.

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UK Ad Regulators Call Out Fruity King for Sexist Tweet

Posted by admin | Casino Affiliates | Sunday 7 January 2018 3:16 pm

Ad regulators at the UK Advertising Standards Authority (ASA) are calling out Fruity King Casino for sending out a tweet that is, by any standard, incredibly sexist.

The tweet in question was posted on September 8 and the ASA’s description of it in their posted complaint provides a pretty thorough description of it which reads:

A promoted tweet seen on 8 September 2017 featured an image of female presenters in their swimwear from a daytime television show and the text, ‘You can put lipstick on a pig, but it’s still a pig. #LooseWomen18′.

To their credit ProgressPlay, which licenses Fruity King’s casino software, agreed with the ASA and told the company to pull the tweet as soon as possible. They also instructed Fruity King’s social media team to review its policies and procedures.

The company did, however, seem to accept Fruity King’s weak explanation that the tweet was aimed at the overall quality of a certain daytime television that runs in the UK and wasn’t aimed at all women. Fruity King apparently thinks that the show is low quality and that somehow qualifies it as a, “pig.” That said, ProgressPlay did acknowledge that the tweet was clearly offensive and should be removed.

Over at the ASA, however, that argument wasn’t holding much water. In their published response to the claim, they remarked:

Twitter stated their advertising policies prohibited promoted tweets which were low-quality, offensive or hateful and we confirmed that a tweet of this nature would infringe their advertising policies.

UK operators have a rich history of pushing the limits of good taste when it comes to advertising, but they can always count on the ASA to be there

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