Online Casino News From Around the Globe

Sen. John McCain Wants Congressional Debate On Legalizing Sports Betting
Jan31

Sen. John McCain Wants Congressional Debate On Legalizing Sports Betting

The ongoing debate on legalizing sports betting in the U.S. is gaining momentum by the day and 2015 could be the year that either ends the debate or opens a new era in the U.S. gambling market. As we have reported over the last few years sports betting already involves over 40 million U.S. and Canadian fans. The exact amounts that illegal sports betting generates varies anything from billions to over $400 billion. The state of New Jersey has been the most vocal in their attempts to get legal sports betting up and running in the Garden State. Gov. Chris Christie has been in legal battles over the last few years in an attempt to get their Las–Vegas style sports betting legalized at the state casinos and racing tracks. He has been opposed by the major sporting bodies like the NBA, NCA, NFL and NHL who have until now successfully managed to halt Christie’s attempts. As we speak the case is headed for the Third Circuit Court of Appeal in the spring. With the Super Bowl around the corner the issue of sports betting could not be more relevant as billions are being wagered. The latest prominent politician to come out in favor of debating the sports betting issue is Sen. John McCain. He gave an interview on ESPN’s Andy Katz and ABC’s Rick Klein in which he stated that “congress needs to hold hearings to discuss the legalization of sports betting. Currently the Professional and Amateur Sports Protection Act of 1992 is the main stumbling block to expanding sports betting in the U.S. which is currently only legal in four states. In reality it is only Nevada that allows single-games sports betting while Oregon, Montana and Delaware offer limited forms of sports betting. McCain answered the question as to why Nevada is the only state allowed to offer sports betting at the moment by saying what many think. He said,” I think you’ve got an excellent point, and that’s why it’s an excellent issue.” Like anyone in the know McCain is well aware that billions are already being wagered illegally without the government enjoying tax reveneus. Even according to the Nevada Gaming Board, there was over $3.9 billion wagered in 2014 at the state’s sports books. Given that this is only in one stat, so the estimates of up to $400 billion seem not that unrealistic. McCain is of course following former NBA Commissioner Adam Silver who recently called for sports betting to be “brought out of the underground and into the sunlight where it can be appropriately monitored and...

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Crown Resorts Scraps $400 Million Planned Casino Resort In Sri Lanka
Jan30

Crown Resorts Scraps $400 Million Planned Casino Resort In Sri Lanka

Asia is seen by many casino moguls as the region with the most potential to grow in terms of gaming revenues. Macau being the prototype of other counties like Japan who are looking into legislation that would pave the way for legal casinos. The massive potential in Asia has got the likes of Sheldon Adelson and Australian casino mogul James Packer fighting over territory as they both look to get the coveted casino license. Sheldon Adelson was famously quoted as saying that he would pay whatever it takes to receive a license in Japan which is seen as potentially one of the largest gambling markets son the world. James Packer’s Crown Resorts Ltd. were looking to invest in Sri Lanka but have announced their scrapping of their proposed $400 million luxury hotel and resort planned after the government withdrew their expected approval for the casinos. Sri Lanka’s Prime Minister Ranil Wickremesinghe’s was under pressure from Buddhist leaders and political parties. Packer was granted permission in 2013 for the casino project but building had not started. With the Prime Minster amending tax concessions and cancelling casino approval, Packer’s Crown Resorts had to accede defeat as they said in a statement,” We respect the Sri Lankan government’s decision and on that basis our project will not be going ahead.” Other gaming interests like Sri Lanka’s Vallibel One Plc also had their casino approval revoked which means their $300 million Queensbury Resort has been halted. The decision to cancel the casino licenses was expected as it was one of the election pledges by the newly appointed President Maithripala Sirisena who came into power after the Jan. 08...

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Live- Bet Offering Fantasy Sports Betting In Real Time
Jan29

Live- Bet Offering Fantasy Sports Betting In Real Time

The Super Bowl is without a doubt one of the most commercial sporting events in the US and enjoys millions of global viewers. Anyone looking to for a platform to promote a sports related product knows that timing it with this mega event is the wisest marketing tactic. One such player is game veteran Louis Castle who has released a HTML5 web app that is just in time for the Super Bowl. While DraftKings and FanDuel have delivered one day fantasy tournaments Castle has launched his game called Live-Bet which enables players to place virtual bets on live football games. Players get the chance to predict what is going to happen in a live game and more importantly they discover if their predictions are correct or not right away. With Live-Bet players can bet virtual currency hundreds of times during a game and you get to compete against your friends on a live leaderboard. With over 45 states allowing fantasy sports betting and additional states like Washington looking to join the club, Live-Bet hopes to cash in on this ever growing sector. While currently only available in virtual form and to NFL, no need to guess as to where Castle is looking to go. Castle is well aware that the odds of sports betting being legalized in more states in the U.S. are pretty good and by establishing his brand with Live-Bet, he could well be on the ground floor when sports betting becomes legal. The app is able to resolve wagers in real time due to technology supplied by Metric Gaming, who also supply real time tracking for real money gambling in Europe. Castle himself is chairman of Metric Gaming which strengthens the theory of his long term real money plans. Currently Live- Bet enables players to compete against friends for bragging rights and players at the top of the leaderboards can even win real money rewards. The HTML5 app runs both on iOS and Android devices with players logging in via Facebook. Live-bet is an interesting startup to follow as they may well be positioned to become the next acquisition of the real powerhouses in the fantasy sports sector, FanDuel and...

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DraftKings Signs Partnership Deal With Pittsburgh Steelers
Jan28

DraftKings Signs Partnership Deal With Pittsburgh Steelers

Fantasy sports betting powerhouse DraftKings are continuing their expansion with all the major sports in the U.S. They have just signed their third partnership with a professional football franchise in the NFL. They have announced their new partnership with the Pittsburgh Steelers which follows last year’s partnerships with the New England Patriots and the Denver Broncos. Like their other partnerships DraftKings are looking to place themselves to officially become a major player in real money sports betting if and when it becomes legal in the U.S. on a nationwide basis. The argument over whether sports betting is already legal in the U.S. is debatable as so called fantasy sports betting brands like DraftKings and FanDuel are already giving away hundreds of millions of dollars annually in cash prizes. Saying this DraftKings want their name to appear synonymous with as many sport franchises as possible in an effort to normalize real money fantasy sports betting. In terms of the partnership with the Pittsburgh Steelers, DraftKings will offer fans unique experiences like VIP events and tickets to games. As the official fantasy sports brand for the team, they will provide signage display and fantasy updates which will be featured in the Steelers’ digital media properties like the NFL NOW as well as other media channels like radio and their website. Director of Partnerships and Sales for the Steelers, Ryan Hyzjak commented on the new deal with DraftKings,” Fantasy sports are an increasingly important part of the fan experience for Steelers fans. Our partnership with DraftKings will continue to provide many opportunities to Steelers Nation, and we are excited about moving forward in order to engage our fans with fantasy sports in unique ways.” Chief Operating Officer for DraftKings, Paul Liberman gave their side of the deal,” From the Immaculate Reception and the Steel Curtain Defense to the Terrible Towels waved at every game, the Steelers are one of the most storied franchises in professional football with an extremely passionate fan base. In addition, the Steelers have a very forward-looking way of thinking about technology and partnerships. The types of experiences that we have in the works as the result of this relationship will be truly innovative and benefit the fans in the stadium and at...

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Dutch Court Ruling Says Binary Options Not The Same As Gambling
Jan27

Dutch Court Ruling Says Binary Options Not The Same As Gambling

The binary option industry is considered by many as nothing more than gambling as it is based more on luck than skill. This has been challenged by binary option companies in the last few years as they are keen to attract real investors to their product and not gamblers looking for a quick buck. The regulation of binary options as a financial commodity goes back to the Cyprus Securities and Exchange Commission (CySEC) who in 2012 turned themselves into a favorite for binary option providers looking for a seal of approval. Other jurisdictions offer binary provides licenses based on the fact that they are games of chance. The murky status of binary options took an interesting turn this week as a Dutch binary option brand Optieclub.nl managed to win a legal victory over the Dutch Financial Regulator Autoriteit Financiele Markten (AMF). A Dutch Court mandated the AMF to grant a financial license to Optieclub.nl. Until the decision they were refused a license due to the fact that the regulator saw their product as a game of chance. This decision by the Dutch court to grant a legal license could have far reaching consequences for binary option providers throughout Europe as they are now defined as a financial instrument under the MiFID. Lawyers for Optieclub were delighted at the ruling and explained that regulators were no longer allowed to introduce policies...

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