Paddy Power Betfair Rocked Again After Accepting Stolen Money

Paddy Power Betfair has been served a financial blow by the UK Gambling Commission (UKGC) for failing to prevent stolen money from flowing through its exchange.

After the making the news public on October 16, the Irish operator agreed to pay a £2.2 million penalty package. According to the official notification, Paddy Power Betfair failed to correctly engage with to customers later identified as problem gamblers.

Stolen Fund Cost Paddy Power Betfair

As well as ignoring signs of addictive behaviour, the investigation found that the unnamed customers were using illicit funds to make bets online and offline.

“As a result

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Knives Out for Paschal Donohoe Following Irish Gambling Tax Hike

The Irish gambling tax rate will double from one percent to two percent next year following a recent announcement by finance minister Paschal Donohoe.

Outlined as part of the Irish government’s Budget 2019, the new levy will apply to retail and online bets from next year. As well as doubling the rate for traditional bookmakers, Donohoe has raised the tax rate on bets made through exchanges from 15 percent to 25 percent.

Reacting to the October 9 announcement, industry insiders described it as a critical blow for the industry. Within 24 hours, Irish betting brand Paddy Power Betfair saw £250 … Read more

Lucy Buckley Becomes Nektan CEO Ahead of Company’s US Push

Lucy Buckley will lead gaming operator Nektan’s US charge after being named as  chief executive officer (CEO) on October 9.

The appointment of Buckley comes after former chief executive Leigh Nissim resigned in July 2017. Bridging the gap between the appointment was Gary Shaw who will now become an executive director under Buckley.

Inspired Move Brings Buckley On Board

In taking the role, Buckley will resign as vice president of Interactive at Inspired Gaming Group and assume her new position on December 3.

According to Shaw, Buckley’s experience will play a key role in the company’s international expansion plans.

“Lucy’s

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GVC Holdings Leads Charge for Greater Social Responsibility

Chief executive of GVC Holdings Kenneth Alexander is taking the bull by the proverbial horns in an effort to improve social responsibility standards across the gaming industry.

In the wake of deputy leader of the Labour Party Tom Watson calling for a reduction in the number of gambling adverts on TV, Alexander has said that some sort of ban should be in place. Commenting on the company’s plans in an October 9 press release, the GVC chief have said he’s ready to see a ban on gambling averts before the 9pm watershed.

Getting Back On Track

Referring specifically to content … Read more

UK Casino Players to Get Better Deal with New Dispute Resolution Standards

UK casino and betting customers can expect a better level of service from now on thanks to new dispute resolution guidelines published by the Gambling Commission (UKGC).

Announced on October 1, the new standards will redefine how complaints are handled by all UKGC licensed operators. The finalised rules will come into effect on October 31 and the hope is they’ll streamline the reporting process and lead to fairer results for all concerned.

Raising Standards In All Areas

In practice, the alternative dispute resolution (ADR) guidelines will address seven key areas, including:

Defining the types of complaints operators are expected to … Read more

Golden Opportunity for William Hill Following US Sports Betting Deal

William Hill has forged a new deal with Golden Entertainment as part of its bid to become the leading sports betting brand in the US.

Just a month after agreeing to provide sports betting services to Eldorado Resort’s 21 US casinos, the UK-based operator has extended its existing agreement with Golden Entertainment.

Nevada and Beyond for William Hill

Under the terms of the new deal, William Hill will manage Golden Entertainment’s sportsbooks in three states. The new venture will start in Nevada where sports betting is already legal and see the British operator set-up shop inside four properties, including the … Read more

Records Fall as Mystery Player Wins £16.8 Million Mega Moolah Jackpot

Mega Moolah has broken another world record after paying out the fifth largest slots jackpot of all time.

As media outlets inside and outside of the gaming industry reported on Mega Moolah at the end of September, activity levels surged. According to MegaMoolah.com, that interested resulted in an unnamed player hitting the ultimate winning spin occurred on September 28.

Lull Leads to Record Jackpot

Reviewing the stats for 2018, May was the first time this year the jackpot wasn’t won. A £4.1 million win in June broke the lull, but things slowed down once again after that.

By the time … Read more

Guinness Confirms Lottoland as Jackpot Record Holder with £79M EuroJackpot Hit

Lottoland has officially raised the bar for online gaming payouts after Guinness World Records recognised its £79 million EuroJackpot prize as an industry first.

Although the jackpot was struck back in June, Guinness has since verified the win, which means Lottoland is now listed as the home of the “largest online gambling payout in history.”

“I’m pleased to confirm that Lottoland did indeed manage to set a new Guinness World Records title for the Largest online gambling pay-out, which now stands at an incredible €90 million/£79 million,” said official adjudicator Sofia Greenacre.

Cleaner Cleans Up

According to the September 27 … Read more

Stride Gaming Posts Resilient Revenue Forecast Despite UKGC Fine

Online bingo operator Stride Gaming is expecting to post a £3 million revenue jump, despite facing a £4 million fine from the UK Gambling Commission (UKGC).

In a note to market, the AIM-listed company reported that revenue to the year ending August 2018 was up from £82 million to £85 million. However, despite the increase in overall revenue, adjusted earnings before interest, tax, depreciation and amortization (EBITDA) was predicted to drop by not more than £16 million.

Resilient in the Face of Regulatory Issues

Offering some insights, Stride Gaming gave a positive outlook and pointed to tough market conditions for … Read more

Record Mega Moolah Jackpot Shows Online Gaming’s Strength

A record held by the UK’s Jon Heywood could soon be broken thanks to the Mega Moolah jackpot crossing the £16 million mark.

According to a site dedicated to tracking the movements of the progressive jackpot slot, 2018 has seen the top prize grow by an average of £1 million per month. Comparing this year’s results to those seen in 2017, a lack of winners has pushed the payout to a record level.

The Jackpot that Keeps on Growing

As per MegaMoolah.com’s findings, May 2018 was the first month since February 2017 that a jackpot wasn’t won. By June 24, … Read more