Online Casino News From Around the Globe

888 Holdings Revenues Increase As U.S. Online Gambling Expands
Oct16

888 Holdings Revenues Increase As U.S. Online Gambling Expands

The slow but steady pace at which online gambling is expanding in the U.S. is set to yield positive results for European companies like 888 Holdings who are heavily invested in the American online gambling market. While already operating in Nevada, 888 expect to be operating shortly in New Jersey and Delaware in the coming weeks. CEO Brian Mattingley expects 2014 to be a good one in the American online gambling market,” In 2014, we should start to see some meaningful revenues come through.” Mattingley is quick to point out that 888 are looking for the really lucrative U.S. states like California and New York to soften their internet gambling policies. Many states are desperately looking for tax revenues from gambling in order to bail themselves out of the economic downturn. 888 released a statement in which they said that group revenues were up by 2% to $94 million in the third quarter which was in line with their forecast expectations. With online growth slowing the expanding U.S. market is progressing just in time according to analyst Ivor Jones of...

Read More
Majesco Entertainment Moves Into Online Gambling Market
Oct15

Majesco Entertainment Moves Into Online Gambling Market

Mobile social gaming and real money gaming have never been as closely related as they are now. The line between mobile gambling and other mobile games is almost invisible and has resulted in traditional gaming companies looking to get into the real money arena. One such company is gaming developer Majesco Entertainment who have achieved global recognition for their Zumba Fitness game for Nintendo Wii. They have over 20 years of operating history and focus on developing casual video games for all leading console, handheld platforms and mobile devices. They have just announced the closing of their acquisition of Orid Media Limited and Pariplay Limited. This follows Majesco’s 50% acquisition on GMS Entertainment earlier this year. Majesco’s acquisition of Pariplay is aimed at the real money gaming market as Pariplay specialize in instant win, social gaming and iLottery. In terms of the agreement Pariplay will continue developing and designing mobile and fixed online games for real money markets and lottery systems. They are licensed in the Isle of Man and operate online gaming sits on a white label basis as well as an owned basis. CEO of Majesco Entertainment Jesse Sutton commented on the deal,” I am pleased that Pariplay has received the requisite regulatory approvals to allow us to complete our investment in this newly formed venture. The iGaming, iLottery and social gaming segments of the online gaming market are growing rapidly, and looking ahead, additional jurisdictions are expected to legalize real money online gaming and lottery, which will fuel further market expansion and opportunity for GMS...

Read More
Survey Of Gambling Down Under Raises Concerns Over Online Gambling
Oct14

Survey Of Gambling Down Under Raises Concerns Over Online Gambling

We reported on the Bwin data that was released in a study of gambling addiction by the Harvard School of Medicine a few days ago. One of the worrying findings was the increasing gambling problems of the younger generation. In a new study of the Australian gambling market this trend seems to be present down under as well. The well-known Southern Cross University postdoctoral research fellow Sally Gainsbury gave an interview to the Herald Sun in which some interesting findings about online gambling were revealed. Gainsbury’s claims that her survey is the first of its kind on online gambling in Australia. She found that of the 4,688 Australians surveyed which gambled online, 30% were found to experience low to moderate risks in comparison to only 15% of those who gamble in the traditional manner. The meaning of low to moderate risk means that these online gamblers could face difficulties that include the inability to pay bills, chasing their losses and spending above their means. Dr Gainsbury pointed out that much like paying for items with a credit card, online gambling gives the player the feeling of not actually laying out cash as all transactions are electronically done. Online gambling is popular and growing in Australia as the 2011 survey of 15,000 Australians showed that 8% admitted to have gambled online in the last twelve months. Dr Gainsbury pointed out that this was significant as the phenomenon had grown in the last few years. In another worrying trend half of online gamblers were found to have developed their gambling addictions after engaging in online gambling but half also were found to have had a problem before they started to gamble online. Like the Bwin data Gainsbury also pointed out that parents and teens needed to be educated on the possible risk of online gambling as one of the biggest risk factors was being...

Read More
D.C. Lottery Unable To Payout Winners Until Federal Shutdown Ends
Oct13

D.C. Lottery Unable To Payout Winners Until Federal Shutdown Ends

The federal shutdown in the U.S. is having serious ramifications for not only the American economy but could even lead to a global crisis according to experts. In good times and bad times the lottery is seen as the man in the street’s chance to overcome poverty and change one’s fortunes in an instant. Well imagine you are a lotto player in Washington D.C. and you have won a lottery prize. One would think all is good but think again as until the federal shutdown crisis ends the lottery has announced it will be unable to cash winning tickets. Of course the lottery will be taking player’s cash but will only be honored when the dust settles in the shutdown. The reason for this bizarre state of affair is that the District of Columbia is barred from spending local tax dollars without the approval of Congress. While funded by revenues from the public, the law states that the lottery cannot payout players without congressional authorization. This sorry state of affairs has got lottery official extremely concerned as furious players will think twice before purchasing any lotto tickets until the politicians sort out the mess they have created. For the meantime the D.C. lottery will have to rethink their slogan of “Lots of people...

Read More
Bwin Data Offers Rare Glimpse Into Casino Industry Secrets
Oct12

Bwin Data Offers Rare Glimpse Into Casino Industry Secrets

The spending patterns of gamblers is a fascinating study in human behavior. Casinos spend millions on researching how the average gambler thinks and spends their cash. There are many conspiracy theories regarding the actual amount of money the casinos payout in favor of winners and how much they actually earn. We will never know these figures as they are the most closely guarded pieces of information the casino industry holds. A recent article in the Wall Street Journal  does however shed some light into the intriguing world of gambler’s spending habits. This rare data is based on information provided by Bwin who made it available to gambling-addiction researchers affiliated with Harvard Medical School. The research is bases on anonymous records of 4,222 online gamblers who wagered between 2005 and 2007 on Bwin.Party Digital Entertainment PLC. Surprisingly the chances of walking away a winner were not too bad with a 30% chance on any given day, The age old belief of walking away after a win seems to be a good idea as only 11% of gamblers who continued to play won afterwards. When it comes to heavy gamblers this is even more true with 95% losing money in the end. Another rarely seen glimpse into the casino industry is also on offer in the report which shows just where the casinos make most of their money from. One of the main findings is that casinos rely heavily on a very small group of gamblers to get most of their revenue. Of the 4,222 casinos customers researched a tiny amount of just 119 heavy gamblers  or 2.8% of the total customers provided half of the casino’s revenue intake and 10.7% provided 80% of the take. This type of data gives anti-gambling proponents ammunition as they often point out the fact that casinos are quick to exploit the heavy gamblers and thereby increase addiction problems. While the results are from European online casinos, experts believe that the patterns are similar to those of the United States where marketing specialists like Andrew Klebanow state that U.S. casinos get about 90% of revenues from just 10% of gamblers. The Bwin statistics show that those indulging in a light flutter had the highest chance to win in a period over two years with about 17%. In contrast heavy gamblers only had a 5.4% chance of walking away in the black in the same period of time. The argument of Poker being a game of skill also came into focus as those defined as “most involved” walked away winner’s a third of the time. The average poker player however over time had only a 10%...

Read More
Page 4 of 7« First...23456...Last »