Brexit Won’t Hurt UK Betting Giant Rank

Fears that Brexit would negatively affect the iGaming industry in the UK appear to be unfounded; at least that’s the recent verdict from the Rank Group.

The British casino operator has stated that the country’s impending exit from the European Union (EU) will have little to no impact on its financial forecasts going forward.

Between its casino interests with Grosvenor and Mecca Bingo, the Rank Group has become one of the largest operators in the UK.

Business Model Offers Natural Protection

Because it has limited exposure to non-sterling earnings, Rank will be sheltered from the majority of currency fluctuations that … Read more

Investigation Reveals Binary Options Sites Hiding Behind Shell Corporations

Binary options betting sites using Scottish shell corporations have come under fire from the Financial Conduct Authority (FCA).

Tracking the rise of binary options platforms across the UK, the FCA has issued a warning that customers are losing large sums of money on these unregulated betting sites.

Binary options basically allow punters to speculate on the financial markets. For example, an operator might offer a bet on the fact that the FTSE will end the day higher than it started.

If people believe this will be the case they can “buy” or back the bet. If they think it … Read more

William Hill Rejects £3.6 Billion Takeover Offer

The Rank/888 coalition that’s been sizing up a bid for William Hill over the last few months has finally put together a formal offer according to the Financial Times.

Although the specifics of the deal have been kept under wraps, two sources briefed on the plan have told the Financial Times that Rank and 888 Holdings have offered 364p per share.

However, by the time all is said and done and various deals have been struck, the true offer per share is expected to hit 408p which would make the deal worth £3.6 billion.

A Potential Super Power

Should the … Read more

UK Online Gambling Participation Among Millennials Hits New Low

UK online gambling participation among millennials is falling according to a recent report by the UK Gambling Commission (UKGC).

Outlined in a report by the UKGC, the figures state that online gambling activity among 18 to 24 year olds in the UK has dropped for the second consecutive year.

Between 2013 and 2014 participation rates among millennials was 17 percent, which is a full 7 percent higher than the 10 percent that ante-up between 2015 and the first half of 2016.

Millennials Down, Everyone Else Up

However, while iGaming participation among 18 to 24 year olds had dropped, players … Read more

Could 888/William Hill Deal Create a New UK Betting Powerhouse?

The UK betting industry could be set for a major shakeup if a deal between 888, Rank and William Hill comes to fruition.

Although a firm offer has yet to be tabled, William Hill confirmed that has been interest in a merger from 888 and Rank.

For those with long memories, this may seem like a case of déjà vu as 888 proposed a similar deal to William Hill back in 2015. After those talks broke down, the online gaming company tried to acquire bwin but lost out to GVC on that occasion.

Not wanting to give up on the … Read more

UKGC to Crackdown on eSports Betting

The UK Gambling Commission (UKGC) is set to review emerging gambling markets across the country in a bid to continue its protection of players.

Following the release of its annual report, the UKGC has pledged to review new betting opportunities such as eSports and Bitcoin as they continue to gain traction in the UK.

The shift in focus is part of new CEO Sarah Harrison’s mission to tackle any potential issues relating to “regulation and player protection.”

Although the emergence of Bitcoin in the betting industry isn’t completely new, it is starting to gain some popularity is because of the … Read more

UK Online Poker Industry Could Help Boost New Jersey’s Fortunes

British online poker players could soon be linking up with their transatlantic cousins if a liquidity sharing deal with New Jersey comes to fruition.

Since the US Department of Justice (DOJ) shutdown the online poker industry in 2011, players in the UK have been unable to exchange bets with their American counterparts.

However, with the market starting to open up on a state-by-state basis and liquidity sharing coming into its own, talks are now underway to reconnect two of the top poker playing nations in the world.

The Wheels are in Motion

According to recent reports, New Jersey’s Division of … Read more

Betfred Generates More Revenue but Taxation Cuts Profits

Betfred’s annual profits have been negatively impacted by the UK Gambling Commission’s (UKGC) new taxation policy.

Assessing its financial performance from September 2014 to September 2015, Betfred found that its gross earnings increased from £170 million per week to £200 million per week.

However, the combination of taxation and the closure of its Australian operations have caused the operator’s Earnings before interest, tax, depreciation and amortisation (EBITDA) to fall from £101 million to £56 million.

Taxes Slash Profit Margin

In a statement to the press, Betfred acknowledged that the closure of its assets in Australia contributed to its profit drop, … Read more

UKGC Wants Bookmakers to take Novelty Bets Seriously 

The UK Gambling Commission (UKGC) flexed its regulatory muscle this week after it warned operators to be careful when they offer so-called novelty bets.

Over the last decade the popularity of novelty betting on pre-recorded TV shows has grown immensely and, today, you can speculate on a variety of outcomes via the UK’s top bookmakers.

However, given the potential for rigged votes and betting, the UKGC has issued a warning to all of the bookies under its watch.

UKGC Wants Novelty Bets to be Serious

Responding to media reports that apparently originated from operators, the UKGC essentially told bookmakers to … Read more

Betfred Pays £800,000 Ante to UKGC After VIP Betting Incident

Betfred, the Gibraltar-based online sports betting operator, has been forced to pay the UK Gambling Commission (UKGC) more than £800,000.

Following an investigation into the betting habits of Betfred VIP Matthew Stevens, the UKGC has concluded that operator’s anti-money laundering policies fell short of expectations.

According to reports, Stevens pleaded guilty to stealing £856,700 from his employer to fund his betting activities.

Although Stevens isn’t thought to have spent the majority of his illicit funds at Betfred, the operator has agreed to a voluntary settlement of £787,500.

UKGC Working to Curb Betting Infractions

From that amount, £443,000 will go to … Read more