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

New All Party Group to Review High Street FOBTs

Fixed odds betting terminals (FOBTs) came under the spotlight once again this week following the formation of an All Party Political Group.

Tasked with investigating the impact of FOBTs on players and the wider community, the cross-party committee’s first order of business will be to analyse the effects of the much-maligned betting machines.

Chaired by Labour MP for Swansea East Carolyn Harris, the group is made up of five politicians from around the country who will each hear evidence from parties on both sides of the FOBT debate.

A Forum for All

While the main aim of the study is … Read more

NYX Gaming Expands Empire with Betdigital Deal

NYX Gaming has just agreed to purchase UK gaming company Betdigital in a deal reported to be worth £24.5 million.

NYX Gaming, the Canadian technology company that provides live and online products for many of the world’s leading platforms, will pay an undisclosed upfront fee for Betdigital and issue further payments over a three-year period.

Big Moves by NYX

Betdigital launched in 2011 and offers a variety of content for online, mobile and TV betting platforms and NYX Gaming will be hoping to leverage these resources to increase its Omni-channel software.

News of the takeover deal comes just a week … Read more

UK Lottery Cashes in for £7.6 Billion

UK lottery owner Camelot hit the jackpot in 2015 after ticket sales across its range of products reached new heights.

Despite certain lottery products seeing a drop in sales, Camelot revealed that overall betting activity increased by 4% (or £317 million) to the year ending March 2016, an increase which resulted in total sales worth £7.6 billion.

From that figure, a total of £1.9 billion was handed out to good causes, including various art projects and athletes preparing to compete at the 2016 Olympics in Rio.

However, it’s also players that have benefited from the recent boom in lottery sales Read more

Man City’s Martin Demichelis Pays £22K Fine After Betting Mistake

Manchester City’s Martin Demichelis has been fined £20,000 by the FA but won’t have to serve a match ban after admitting a string of betting infractions.

German defender Demichelis found himself in hot water with the FA earlier this year after evidence emerged that he’d breached the FA’s rules on match betting.

According to the FA’s code of conduct, players, managers and backroom staff are not allowed to wager money on any football match anywhere in the world.

Blanket Ban Covers All Demichelis’ Infractions

While it might seem overly strict to impose an outright betting ban on matches that players … Read more

Shane Warne Goes Walkabout As Charity Poker Limo Busts Out

Several poker celebrities, including Shane Warne and former World Series of Poker Main Event champion Joe Hachem, were left without transport for a high-profile charity event after their luxury stretch limo was stolen.

The limousine, a white Chrysler stretch costing around $200,000, was taken as Warne and pals tucked into a celebratory dinner before attending a charity poker night at the Sphinx Hotel in Geelong. The party was left unamused, however, when the car was hotwired right outside the eatery and then found later, having been crashed on Eastern Beach Road.

The charity poker event was hosted by former AFL … Read more

The UK gambling industry is worth around £7.1 billion annually and a large portion of that revenue is now coming from female gamblers.

Thanks to the advent of mobile gaming through sites such as Facebook, more woman are now finding their way to online betting sites according to an article posted on refinery29.uk.

Women Turned on by Gambling

Profiling the case of 27-year-old Hope, the article cites data from the UK Gambling Commission which suggests that more young women in the “AB economic category” (those with high ratings in terms of education, income and social status) are now gambling online.… Read more