UK and Ireland Revamp Gambling Laws
The UK government proposed in January 2011 that foreign operators, even from white listed jurisdictions must obtain a British and pay tax. Changes pertaining to the above might be imposed as early as March 2011. From the time when the publication first hit the press the government hired various consultants to investigate the matter. The findings will be released middle March.
The journal “This Is Money” issued a detailed discussion on the matter. It indicates that British online casinos which moved their offices abroad and are currently paying a 1% tax would be affected the worst if they would pay a 15% tax rate according to British Law. These online casinos are SportingBet, PartyGaming, 888, William Hill and Ladbrokes.
Despite the fact that they save significantly in taxes, they spent millions of pounds advertising their product verticals like sports books, casinos and poker rooms to gamblers from the United Kingdom. They …
French Government Gambling Tax Issues
The French government recently voiced its opinion over the “serious doubts” the European Commission (EC) has to its current tax regime for internet horse race betting that it is not well-suited to EU law.
The EU stated in its journal on the 14th of January that the protection given to just one area by means of handicapping competitive conditions to benefit former horse race monopoly PMU is not justified under the current economic EU State Aid rules.
The French government responded in a letter on the 18th of January stating that it did not believe the current French tax regime perpetuated any economic benefit to the country’s race courses and that it was assigned to a specific sector was not an issue under EC rules.
A formal investigation was launched by the EU last year to ascertain whether the online tax system combined with absolute control and lower tax on …
Breaking News:PartyGaming and Bwin Merge
The planned merger between PartyGaming and Bwin has finally been approved by its shareholders today.
More than 99% of PartyGaming’s shareholders approved the amalgamation with the Austrian internet casino; Bwin’s shareholders have collectively agreed the projected merger held at their own EGM today.
PartyGaming and Bwin will be re-named as bwin.party Digital Entertainment Plc as a result of both sets of shareholders voting in favour of the planned merger.
Giving feedback on the results of today’s EGMs, Jim Ryan and Norbert Teufelberger, the future co-CEOs of bwin.party digital entertainment plc, said: “The shareholder’s meetings held today has paved the way for future success, the transformational merger of our two internet casinos are on track and this bodes well for future revenue.
“It pleases us immensely that our respective shareholders have accepted the tactical, operational and financial benefits of creating the world’s largest listed internet casino.”
On the 23rd of December last …
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Players should familiarise themselves with the internet casinos’ Terms and Conditions first …
Bet365 Tops EGR List
Bet365 has snatched up eGaming Reviewer’ new Power 50 criteria and sits tightly in the number one position as 2010’s most influential internet casino. Bet365, a Stoke-based company is owned and operated by the Coates family. This internet casino edged out PartyGaming to take this year’s Power 50 crown. The nomination was based on the following criteria: financials and policy – in totting up the current benchmarks of geographic reach, influence and variety.
Bet365’s exceptional £5.4bn wagered on its various owned internet sites up and till the end of March 2010, has generated a staggering amount of profit and it has no debt aided it to top the new financial grouping- this account comprised 40% of the entire appraisal. Its advertising campaigns are equal to none further boosted by a very successful World Cup.
The other movers and shakers were privately owned PokerStars and Mangas Gaming in 2010’s top ten. …
2010 Not a Good Year For 888 Holdings
It’s been a very “tough” year for 888 Holdings thus far, however with a renewed marketing strategy in place we’re set to rock the boat within the next year and to boost our company’s revenue stream dramatically by means of downscaling our operating expenses, the chief executive of 888 Holdings said to eGaming Review.
“To date our poker efforts has been disastrous since we’ve started out in 2008 up and till now. The only exception was earlier this year in January when we reached a run-rate in January of US$300m,” Gigi Levy mentioned.
“The fact is we are just as big as Bwin, however with less profit to show. We have two options here or we cut our operational costs or we up our profit margin, for the time being we chose the latter option,” he added.
In August 888 announced a short-term cost-cutting programme that will avoid additional losses …
Paul The Octopus Dies
During the 2010 FIFA World Cup held earlier this year in South Africa octopus Paul has become a legend throughout the world. This smart octopus correctly predicted the winners in eight consecutive soccer matches during the World Cup, thus making him a bookie favourite in betting decisions.
Sadly today heralds the death of Octopus Paul, he died at his aquarium in Germany leaving a legacy with thousands of sport punters who placed their bets and won big thanks to Paul. However, this also focused unnecessary interest on the octopus in the billion dollar sports betting industry.
The last 20 years has seen, sports betting operations start-up all over the globe. The majority of these touting services boast of individuals who live in Las Vegas and Nevada made millions in their respective sports betting operations. The top punters within the sports betting industry claim that they are still the best.
Fast Food Giant McDonalds Introduces Gambling
New gambling laws in the US received a fair amount of flack from internet gamblers across the gambling spectrum. Most people are of the opinion that the new gambling laws are not only in contravention with a citizen’s rights but are also not consistent with other laws in the country.
The McDonalds Monopoly 2010 game has a huge amount of followers at the popular fast food joint. When it comes to marketing, McDonalds is one of the best and the fast food giant has come up with an ingenious idea to further increase its fast food sales by introducing a Monopoly type game where consumers can win food prizes as opposed to hard cash. Interestingly the Monopoly game presented at McDonalds does not follow traditional gambling ideas.
The McDonalds monopoly game entices players to spend money on food as opposed to the normal run-of-the-mill casinos where bets are exchanged in …
US DOJ Takes On iMEGA
Interactive Media Entertaiment and Gaming Association (iMEGA) has appealed its motion that has been propagated by the US Department of Justice (DoJ) in an attempt to revise the 1991 federal law that prevents state-controlled sports betting.
iMEGA filed the brief on Friday and was accompanied by New Jersey State Senator Raymond Lesniak and Senate President Stephen Sweeney who is with the US Circuit Court.
Their lawsuit iMEGA, et al v. Eric Holder, Attorney-General of the United States, originally filed by Lesniak and iMEGA in March this year, their aim is to contest and nullify Professional and Amateur Sports Protection Act (PASPA), which in 1992 has been enacted.
The three stooges; iMEGA, Lesniak and Sweeney’s are of the opinion that PASPA is unconstitutional and it discriminates against the people of New Jersey, allowing four states to be exempted by the law; Delaware, Montana, Nevada and Oregon – harvesting tax from sports betting …
Excessive Gambling Can Cause Mental Disorders
Hong Kong is the city which hosts the largest number of gamblers on the planet. According to new research it indicates that most gambling addicts in the city also experience some mode of mental disorder.
The Tung Wah Group of Hospitals, the Divisions of Addictions for Harvard Medical School and the Department of Applied Social Science of Hong Kong Polytechnic University have conducted a joint research program spending nine months interviewing and collecting data from 201 gamblers. The subjects were all problem gamblers who sought help for their addiction.
Over sixty percent of the subjects were diagnosed during the time they were studied and experienced at least one mental disorder. The disorders ranged from depression to anxiety and were linked to past gambling addiction. The results compelled researchers to optimize and sharpen-up more on mental health help.
“Mental health has long been neglected,” said Professor Daniel Shek Tan-lei of Hong …