Aussie Regulators Fine Neds for ‘Inducing Gambling’

Posted by admin | Casino Affiliates | Saturday 19 May 2018 3:14 pm

It’s been clear for some time that Australian lawmakers and regulators are coming down hard on the online gambling industry and the case of Neds, an online bookmaker, really drives that point home.

Earlier this week, the operators of plead guilty to five counts of offering New South Wales residents inducements to gamble or open betting accounts. The court accepted their plea and threw down a sentence that included an $ 18,000 fine.

The ads in question ran afoul Australia’s beefed up laws regulating everything from when gambling operators can advertise their services to how they can promote bonus offers. In this case, Neds ran afoul of the law by offering bonuses of $ 505 along with “bet boosts” to add value to specific wagers.

All of the ads that got Neds into trouble ran during the period of October-December 2017. As our colleagues at point out, Neds has only been in business since September of 2017.

What’s particularly noteworthy about this case is that the charges were laid against specific members of the Neds executive team. This sort of personal accountability is a hallmark of Australia’s beefed up laws governing gambling operators and it’s exactly the message that Liquor & Gaming NSW deputy secretary Paul Newson wants to send to the gaming business.

In an interview with the Sydney Morning Herald, Newson explained the rationale behind the prosecution saying:

Under the new laws, maximum fines for offering unlawful inducements to gamble have been increased tenfold, and directors of wagering businesses can be held personally liable and be criminally convicted for gaming offences. It will no longer be good enough for directors to turn a blind eye and say they were unaware their company had committed offences.

In short, Australian gaming regulators are very serious about enforcing their new laws and operators who run afoul of them may find themselves in very hot water.

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Paddy Power Betfair Looking at Possible FanDuel Acquisition

Posted by admin | Casino Affiliates | Thursday 17 May 2018 3:14 pm

Officials from Paddy Power Betfair are in negotiations to possibly acquire the US daily fantasy sports site FanDuel. It’s the first major, potential, acquisition of a US sports wagering firm since the US Supreme Court green-lighted regulated sports betting at the state level earlier this week. And, in the eyes of gaming industry watchers, it’s not likely to be the last.

Word of Paddy Power Betfair’s interest in FanDuel was announced on Wednesday and appears to be in its very early stages. In a statement released on its website, Paddy Power Betfair officials confirmed rumors, but cautioned readers against getting ahead of themselves saying:

Paddy Power Betfair plc notes the media speculation, and confirms it is in discussions, regarding a potential combination of the Group’s US business and FanDuel to create a combined business to target the prospective US sports betting market. Discussions are ongoing and there is no certainty as to whether agreement will be reached, or as to the terms or timing of any transaction.

Now that sports betting is no longer illegal in the United States, it’s likely that a number of European and UK operators will be trawling America, looking for sports betting expertise. While FanDuel is not, ostensibly, a sports betting firm it is packed with employees who are very familiar with the US sports betting landscape. In all likelihood, that’s what Paddy Power Betfair is actually looking to purchase.

The Supreme Court’s decision this week to put the decision regarding sports betting in the hands of the states has been good news for gaming industry stock prices, including UK firms such as Paddy Power Betfair. Their stock shot up an incredible 12.2 percent on news of the decision on Monday and picked up another six percent on Wednesday.

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US Supreme Court OK’s Sports Betting

Posted by admin | Casino Affiliates | Tuesday 15 May 2018 3:17 pm

In a 6-3 decision, the US Supreme Court has overturned the Professional and Amateur Sports Protection Act (PASPA) and opened the gates for regulated sports betting in the United States. The ruling also puts aside decades of wrong-headed, puritanical thought that pushed a huge sector of the gaming industry into the arms of the black market.

At its core, Murphy vs. National College Athletic Association (NCAA) was all about states’ rights, specifically the right to offer regulated sports betting. Under the terms of PASPA, states were forbidden from offering sports betting in any form that wasn’t legal in 1992. That’s why Nevada casinos have sportsbooks and Atlantic City casinos don’t.

Back in 2007, New Jersey voters decided to challenge that ruling in an attempt to breathe life into the struggling casinos in Atlantic City. In legal terms, New Jersey’s case wasn’t a blanket attempt to legalize sports betting, but rather an attempt to let the states decide for themselves.

In the majority ruling, the Supreme Court Justices said that PASPA was not valid because it imposed a legal burden on the States that Congress had not approved. That is to say, Congress has never ruled that sports betting is illegal. What PASPA did was freeze the gaming industry in place, without allowing states the opportunity to change their positions on regulated sports betting.

For the Supreme Court, that was enough. Speaking for the majority, Justice Samuel Alito said, “Congress can regulate sports gambling directly, but if it elects not to do so, each state is free to act on its own.”

News of the Supreme Court’s decision was greeted enthusiastically by the gaming industry with American Gaming Association President Geoff Freeman saying, “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.”

So what’s next for sports betting in America? We’ll take a look at the issues surrounding the roll out of regulated sports betting in the United States tomorrow.

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Kentucky Derby Wagering Sets New Record

Posted by admin | Casino Affiliates | Sunday 13 May 2018 3:15 pm

On any given year the Kentucky Derby draws gamblers out of the woodwork as casual punters try their luck at wagering while partying at Derby celebrations across the country. This year, however, those once-a-year bettors took their wagering to new heights as Churchill Downs reported record wagering on the 144-year-old event.

According to published reports, the handle on this year’s Kentucky Derby hit $ 225.7 million (USD). That’s up 8 percent over last year’s race day total.

For the day, wagering was also up 8 percent over 2017. Churchill Downs’ satellite Twin Spires reported wagers totaling $ 39.2 million for all the day’s events. That a leap of more than 15 percent over last year’s total.

Online bettors drover a huge leap in wagering on the Kentucky Derby’s marquee event. Wagers on the big race were up 18 percent over last with players dropping a cool $ 24.6 million over the course of the day.

All that cash is expected to add $ 11-$ 13 million of additional revenue to TwinSpires’ bottom line.

As rain fell on the hallowed track at Churchill Downs, rain also fell on a few sports books and race tracks that were visited by a few very lucky, or very smart, punters.

At the Wynn Las Vegas, one very sharp player cashed in for $ 150,000 on a $ 200 futures wager on the day’s winner, Justify. According to a report in the Las Vegas Review Journal, an unnamed sharp called bookmakers early in the week looking to wager on Justify at 250-1. Because Justify had not raced as a two-year-old, the bookmaker made a very generous offer of 300-1. While that cost the casino a few bucks, it netted the mystery bettor a cool $ 150,000 on a $ 250 wager.

As Kentucky Derby parties become more popular across the United States, casino affiliates can count on Derby Day as a good day for converting new players.

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New Jersey Spent $8.5 Million Fighting Sports Betting Ban

Posted by admin | Casino Affiliates | Friday 11 May 2018 3:15 pm

When the citizens of New Jersey approved a measure allowing sports betting in Atlantic City casinos, if sports betting were actually legalized, they knew they were in for a fight. Now, nearly eight years later, the bill for that fight is coming in and it’s clocking in at around $ 8.5 million in legal fees.

State officials, however, are betting that legalized sports betting will bring in much more than $ 8.5 million to the struggling casinos of Atlantic City. According to a recent report on The Press of Atlantic City, regulated sports betting is expected to generate more than $ 173 million in new revenue while creating more than 3,633. Those are extremely ambitious numbers, but they’re backed up by a report from Oxford Economics.

Of course not everyone is convinced that regulated sports betting is the answer to all that ails the boardwalk casinos of Atlantic City. David Schwartz, director of the Center for Gaming Research at the University of Nevada-Las Vegas recently pointed out that sports betting is only a two percent drop in the bucket of Nevada’s total gaming revenue.

While Schwartz is correct about the relatively small role sports betting plays in Nevada, he doesn’t mention the potential of regional competitors who would also be offering sports betting in their casinos. Pennsylvania, which is one of the largest casino markets in the country, would almost certainly offer sports betting in its thriving casinos. That would steal a lot of thunder of Atlantic City.

All these arguments are, for the moment, theoretical. The US Supreme Court has yet to issue a decision on whether or not it’s willing to overturn the Professional and Amateur Sports Protection Act of 1992 (PASPA), which would allow New Jersey and other states to offer sports betting. That decision is expected to come any day now and, when it does, it’s likely that that $ 8.5 million will seem like money well spent.

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Lottoland Readies for Bruising Legal Fight

Posted by admin | Casino Affiliates | Wednesday 9 May 2018 3:14 pm

In the Land Down Under, the battle between synthetic lottery operator Lottoland and the Australian Lottery and Newsagents Association (ALNA) is, once again, heating up. Over the past week, Lottoland has threatened to take its fight to Australia’s highest courts, while also accusing its arch-rival of seriously over representing its numbers. Here’s where the fight stands this week.

Early last week, Lottoland dropped a bombshell allegation against the ALNA, claiming that it didn’t represent nearly as many small businesses as it claims. According to Lottoland, which backed its claims with information from the Australian Securities and Investments Commission (ASIC), the ALNA has only about 700 members. In its battle to save small businesses from the ravages of online lotteries, the ALNA has long claimed to be representing more than 4,000 members.

In an interview with Gaming Intelligence, Lottoland Australia chief executive Luke Brill explained the importance of this alleged deception saying:

We’re shocked and disappointed to find out that a body that the Government believes has over 4,000 newsagents nationally as members has in fact only 707 paid members – about 80 per cent less than claimed. This raises major questions about the true intent of ALNA and whether it has misled not just the Government and others MPs, but whether it has also misled the public.

In Brill’s view, the ALNA is simply a small group that’s hellbent on preserving a lucrative monopoly and doesn’t mind fudging the facts in that effort.

For his part, Brill expressed his group’s willingness to fight to the bitter end, no matter what it takes. In this case, however, that bitter end will likely be Australia’s equivalent of the Supreme Court, the High Tribunal…which means this case will likely drag on for quite some time.

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Ransomware’s Favorite Target is the Online Gambling Industry

Posted by admin | Casino Affiliates | Monday 7 May 2018 3:14 pm

The online gambling industry ranks number one in a category that no business wants anything to do with, ransomware attacks. According to a recent study by NTT Security, roughly 20 percent of all ransomware attacks are aimed at online gambling sites.

Ransomware is the practice of criminals taking over a website and, literally, holding it hostage until the site owner pays up a ransom for the return of his or her site. Most ransomware hackers demand a relatively small amount of ransom in the hopes that most site owners will decide paying up is the most economical technique for getting their sites back, rather than going to the authorities.

The report found the online gambling industry was targeted more than any other industry and that these attacks comprise a full 20 percent of all ransomware attacks. That’s really saying something, given the fact that ransomware attacks were up 350 percent in 2017.

One reason that hackers like to target online gambling sites is that many of them, especially sportsbooks, work in a time sensitive environment. That is to say, if they attack a sports betting site on the even of a big sporting event like the Super Bowl, the victim is more likely to just pay the ransom, usually in bitcoin, and get their site operational.

Geographically speaking, the kinds of criminals who run these scams target their attacks in regions where online gambling sites are both legal and plentiful. That means that sites in Europe, the Middle East and Africa are their favorite targets. Sites in these regions account for a full 35 percent of all ransomware attacks.

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Paddy Power Has Meh Q1 Because of Awesome Q4

Posted by admin | Casino Affiliates | Saturday 5 May 2018 3:15 pm

When the earnings report for Q1 2018 came into the Paddy Power offices, it’s possible that someone asked if maybe they had too much of a good thing in Q4 2018? That’s because Paddy Power’s so, so entree into 2018 may have been the result of a truly spectacular Q4 that left their players without a whole lot to gamble with.

Earlier this week Paddy Power released its earning report for Q1 2018 and it contained something of a surprise, revenue was down two percent over the same period last year. Reported revenue was £408 million ($ 553 million USD) with earnings down a full eight percent.

This comes on the heels of Q4 2017 when the company the company posted very solid earnings compared to the previous year.

So what gives?

There are a couple factors at play here and none of them are really the fault of Paddy Power staff at any level.

One major factor, according to Paddy Power CEO Peter Jackson, was the spectacular success the company had in its sportsbooks during Q4 2017. That run of good mojo may have left Paddy Power’s players without a whole lot of extra income to gamble with as the new year dawned. In a statement to the press, Paddy Power officials said that those “very strong” results may have been the reason things slowed down so much in Q1.

That said, Jackson told (an Irish business journal) that while they were a bit disappointed with the revenue dip, they were still optimistic about 2018 and, “While this Q1 performance is disappointing, we have made good progress on the key strategic priorities I outlined in March.”

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Daily Fantasy Sports Pass ‘Game of Skill’ Test in Academic Study

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

Are daily fantasy sports (DFSS) contests games of skill, or games of chance? That’s a multi-million, possibly multi-billion, dollar question that’s kept the DFS market spinning its wheels in a number of countries.

Fortunately, for DFS operators, a recent study by researchers at Kansas State University found that DFS is definitely a game of skill in which luck plays a very small role.

The study, which will be published in the Journal of Sports Science, entered randomly drawn teams into 35 different DFS contests. Reasoning, and statistics, suggest that if DFS was a game of chance they would win at least one of these contests. As it turns out, the researchers lost every single one of those contests.

This result bowled over lead researcher Todd Easton who pointed out how unlikely this outcome actually is saying:

It is difficult to truly comprehend the extreme rarity of losing all 35 contests. This is less likely than a single ticket winning the Powerball.

Easton went on to point out that in a game of chance, one strategy should perform as well as any other strategy.

Easton and partner researcher Sarah Newell went into the study with the idea that they could help Kansas lawmakers with the decision as to whether DFS should be classified as gambling or not. They noted that decision could have a, “massive economic and societal impact.”

The findings of Newell and Easton’s study will no doubt be used by DFS giants DraftKings and FanDuel in their efforts to avoid the gambling label in the United States and across the world. Whether the findings of this particular study are enough to accomplish that weighty goal is another question entirely.

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Professional Tennis Report Warns of ‘Tsunami’ of Integrity Problems’

Posted by admin | Casino Affiliates | Tuesday 1 May 2018 3:24 pm

Professional tennis is facing a “tsunami” of integrity problems that could undermine the credibility of the entire sport. That’s the finding from a recent report by the Tennis Integrity Unit (TIU) that was commissioned in the hope of cleaning up some of professional tennis’ dirtier corners.

The report, which was commissioned after a report on Buzzfeed raised the specter of wide-scale match fixing in the lower levels of touring tennis players.

Costing nearly $ 28 million to produce, the report found that professional tennis is, indeed, rife with players whose desperate living conditions have forced them into tanking matches that are considered mandatory, but not particularly important. Along with that, there simply isn’t enough prize money floating around to support the number of professionals currently competing on the tour. That’s created a situation where low level players are spending more money simply competing in matches than they could ever hope to make if they actually won those same matches.

According to the report, that’s how the seeds of corruption are planted. “Only the top 250 to 350 players earn enough money to break even. Yet there are nominally 15,000 or so ‘professional’ players,” the report stated.

The situation of thousands of players competing for a small pool of prize money drives even very competitive players to throw a set here and there, even if they ultimately win the match.

So how can professional tennis stay ahead of this wave of corruption? The report suggest that the ATP host fewer mandatory tournaments to provide relief for struggling players. They also suggest that the organization stop selling live data to sportsbooks, in an effort to curb the enthusiasm for wagering on low level tournaments.

The TIU plans on issuing its final recommendation, based on the report and comments received on it, within two months.

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