Leicester City Win Leaves Bookies with £25 Million Loss

Leicester City winning the Premier League has cost bookmakers more than a pretty penny according to the latest stats.

Heading into the final stages of the season many of the UK’s leading bookies were looking tentatively at the top of the table as the Foxes closed in on an improbable win.

Eventually, however, despite being ranked as 5,000/1 outsiders by most bookmakers, Claudio Ranieri’s managed to overcome the odds and earn thousands of fans millions of pounds in payouts.

Although the majority of the money wagered on Leicester was by the team’s loyal supporters, early estimates suggest that bookmakers, including … Read more

Gala Coral Pays £870,000+ for Gaming Control Faux Pas

The Gala Coral Group felt the full force of the UK Gambling Commission (UKGC) this week following a review of its anti-money laundering controls.

Since it was established in 2005, the UKGC has regulated live bookmakers as well as overseeing the National Lottery. However, since November 2014 it’s also been in charge of licensing and regulating online betting companies that operate in the UK.

Since that time it’s denied the requests of dozens of online betting sites that don’t meet its strict licensing criteria, but it’s also carried out checks on many of the industry’s established operators.

Gala Coral Under

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UK Gambling Commission Gets Five New Experts

The UK Gambling Commission (UKGC) has announced the appointment of five commissioners with immediate effect.

The government-backed body in charge of regulating iGaming operators in the UK will receive some fresh blood in an effort to make it the premier regulator in the world.

Since its formation in 2014 the UKGC has conducted more than 1,300 compliance visits to gambling sites, spent more than £1.8 million on responsible gambling initiatives, revoked 12 licences and ensured each licensed UK operator meets industry standards.

Experts to Guide the UKGC

The UKGC also employs around 270 staff and heading this network of employees … Read more

Gala Bingo on a Mission to Raise Responsible Gambling Standards

Gala Bingo has become the first online bingo site to join the Senate Group and will now work to improve player safety standards.

To earn a UK iGaming licence, an operator must comply with certain standards with regards to responsible gaming options.

Operators Looking to do More

Offering simple features such as accounts self-exclusions, permanent exclusions and self-imposed betting limits all fall under the umbrella of responsible gaming.

However, with gambling addiction and its portrayal in the mainstream media an ongoing concern for operators, Gala Bingo has joined the Senate Group’s gambling watchdog division.

The aim of the watchdog is … Read more

William Hill in Trouble as CIO Steps Down

William Hill came under fire from the Advertising Standards Authority (ASA) recently after it ran a free bet promotion the organisation felt was misleading.

Following two complaints from customers who felt William Hill’s marketing material was unclear, the ASA was forced to review the “risk-free” promotion it ran in December.

According to the advertising literature, sports betting customers would get the money back if they wagered £5 or £10 on certain events during the promotional period.

Risk-Free Betting with a Catch

However, what some customers failed to realise was that in order to receive a refund they would need to … Read more

Manchester City’s Martin Demichelis Hit with Illegal Betting Charges

Martin Demichelis, the Manchester City Defender, has been charged by the FA for reportedly violating its betting rules on 12 separate occasions.

The Argentinean professional has made 18 appearances for Manchester City this season, but between January 22 and January 28 it’s alleged that he breached the FA’s rules by placing 12 football bets.

Although the FA hasn’t suggested that Demichelis was attempting to fix the matches he had bet nor had he placed any bets on Manchester City games, it has stated that he was in breach of rule E8 which was introduced in 2014.

FA Hot on Blocking

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UK Gambling Round-Up: William Hill Issues Profit Warning

William Hill has issued a profit warning after a poor run of results at Cheltenham and a string of online betting restrictions have caused revenue to drop significantly in recent months.

According to a trading update released on March 23, William Hill announced that it expects its annual profits to fall to between £260 million and £280 million which would be between £11 million and £31 million down on 2015’s total.

William Hill Takes a Knock

Before the announcement analysts had given William Hill an average forecast of £307 million; however, after the company reported a string of losses at … Read more

Paul Darling OBE Defends FOBTs and Urges Bookmakers to do the Same

Fixed Odds Betting Terminals (FOBTs) were in the spotlight again recently after the chairman of the Association of British Bookmakers (ABB) urged operators to fight back against attacks on the industry.

Speaking at the annual general meeting of the ABB on March 14, Paul Darling OBE, the chairman of the ABB, suggested that the mainstream media outlets in the UK are unfairly demonising FOBTs and bookmakers need to unite over the issue.

Betting machines, which are offered by every major betting shop in the UK, are currently generating around £1.7 billion each year in revenue, but they have also generated … Read more

Paddy Power Betfair Bullish After Pre-Merger Profit Increases

Paddy Power Betfair is bullish about its financial future, but the man at the top, Breon Corcoran, has insisted there is still work to do.

The £5 billion deal, which was originally agreed back in August 2015, was completed on February 2 when the new entity went live on both the London and Dublin stock exchanges.

An initial flurry of activity saw the new company end its first day of trading on the London Stock Exchange with a share price of £104.90 according to the Racing Post and since then its fortunes have continued to rise.

Pre-Merger Profits Were Positive

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Execs Crow about New Unibet Voice Betting Technology

A new Unibet voice betting service, Paddy Power in trouble with the Gambling Commission and Ireland taking a stand against gambling ads told the story of the UK betting world this week.

Unibet’s drive to innovate and bring their mobile betting platform into the 21st century took another step forward recently after it announced that it was trailing new voice recognition technology.

Unibet Plays Siri Says

Taking a leaf out of Siri’s book and allowing users to speak their commands instead of typing them, the latest updates to Unibet’s sports betting app could see more people using their voices to … Read more