Online Casino News From Around the Globe

PM Theresa May Confirms There Will Be Cuts On FOBT Maximum Stakes

Following earlier reports by Culture Secretory Matthew Hancock that maximum stakes for FOBTs will be cut to possibly £2, Prime Minster Theresa May has confirmed there will be cuts but did not confirm the exact amount. At Prime ministers questions, Tory Minister John Hughes urged PM May to reduce the maximum stake allowed on these machines that are dubbed the “crack cocaine of gambling”. In response May confirmed that the government would do so but did not give any more details as to the level of the cuts. She said that was clear that the takes on FOBTs will be cut in order to ensure a safe and sustainable industry where children and the vulnerable are protected. She went on to say that the consultation process by the Department for Digital, Culture, Media and Sport did close this week and a final decision is expected soon. May emphasized the that the government will base their decision on the best information possible after all the potential threats and dangers have been considered. Hayes said what many anti-gambling voices have been preaching for years in that the FOBTs are a “social blight” that cause devastation, debt and...

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NBA Layout Their Conditions For Supporting Legal Sports Betting Framework

The hypocrisy of the largest sports bodies in the U.S. like the NBA is staggering. As we have reported in the last few years the NBA Commissioner Adam Silver has being doing verbal acrobatics that would not embarrass any seasoned politician. While at first stating their concern that legalized sports betting would corrupt the integrity of the games, he has since seen the light and said on various occasion that he believes that legalization is inevitable and it’s best to go with the flow. The latest update to their policy is even more eye opening as League Attorney Dan Spillane told New York Legislators that the NBA would have no problem with sports betting legalization as long as the NBA gets their cut. According to their proposed legal framework for sports betting, gambling operators would have to pay a 1% “tax” on the total amount of money bet on games which would generate huge amounts of money for the NBA, NFL and other major sports leagues. Not to give the impression that the NBA were only concerned about getting a cut of the huge pie, Spillane also laid out other stipulations which they would require if they are to support a legal framework for sports betting in the U.S. These include protection against problem gambling, age restrictions and a framework that would allow leagues to restrict wagering on any of their events. Spillane told the New York state’s Senate Committee for racing, gaming and wagering that they have ,” studied these issues at length. Our conclusion is that the time has come for a different approach that gives sports fans a safe and legal way to wager on sporting events while protecting the integrity of the underlying competition.” All eyes are on the Supreme Court who are mulling New Jersey’s challenge to the federal ban on sports betting enacted under the Professional and Amateur Sports Protection Act of...

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Verizon Considering Entering The Real Money Sports Betting Market

The possibility of sports betting being legalized throughout the U.S. has got many potential parties looking to get in on the action early. According to reports the latest mega company mulling an entry into the multibillion dollar sports betting market is Verizon Communications. The New- York based communication giant has already purchased Yahoo last year along with their fantasy sports business. They are reportedly already in consultation phase with consultants to evaluate the potential for a real any gambling venture if and when the current federal laws change. Chief Financial Officer of Verizon Matt Ellis commented on the reports and said,” There are some changes coming that we pay attention to. We stay close to that to see how it would affect our asset and how we may choose to respond. I’ve not looked at anything in detail. If someone has an idea around it, I’ll look at it like any other. But we are not getting ahead of ourselves there.” While remaining uncommitted Verizon is looking to expand their current business with potential growth markets which real money gambling certainly can fill the bill. With over 100 million subscribers as well as 1.3 billion users from Yahoo, and tens of millions using Yahoo’s Fantasy sports product they are in a prime position to enter the gambling market. The size of a regulated U.S. sports gambling market could be as much as $15.8 billion in revenues according to a study by Eilers & Krejcik Gaming. It is estimated that currently over $245 billion is wagered on black market...

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Bookmakers Expect Massive Job Cuts If FOBT Minimum Stake is Lowered

The fixed odds betting terminal debate is coming to a head with the government set to take a decision on cutting the maximum stakes allowed. There has been widespread speculation as to what the exact cut will be but a report in the Sunday Times quoting Culture Secretary Matt Hancock has got Britain’s gambling giants very concerned. According to the report Hancock is considering cutting the maximum bid from £100 to £2. Bookmakers are warning of drastic job cuts should this cut come into play. Share prices of Ladbrokes Coral and William Hill dropped 8% and 11% respectively on the news. Other gaming giants like GVC saw drops of more than 2% on the FTSE 250. CEO of Ladbrokes Coral Jim Mullen reiterated his long standing opinion that the proposed betting stake cuts will not do anything to address the issue of problem gambling and would only result in job losses. He went on to say,” It should be noted that the current call for evidence is yet to conclude and industry responses have not yet been submitted to Government. The industry has also always made it clear that a cut to stakes will have serious consequences – resulting in shop closures which will ultimately affect jobs, tax revenue and the funding of racing.” The exact extent on job losses expected should the £2 limit come into play is not certain but according to a report by KPMG for the Association of British bookmakers estimates that over 3,000 betting shops will close and about 15,000 jobs will be lost. Despite all the rumors and speculation a final decision has yet to be announced and according to a spokesman for the Department for Digital Culture, Media and Sport they will only make a final decision once all the evidence has been...

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Increase In Football Gambling Sports Shirt Sponsorships

The UK government is making a lot of fuss about cracking down on gambling companies advertising and offering promotions on prime media channels. While this is good for political points the reality on the ground is some what different as can be seen in the world of football. Legislation was relaxed after 2005 and has since resulted in a dramatic increase of football sponsorship deals with English clubs. In a study by researchers it was found that 95% of deals with shirt sponsorships with English clubs were done the 2005 legislation was passed. Until 2005 only four shirt sponsorship deals between gambling companies were found. Their latest research was conducted by the University of Glasgow and Healthy Stadia and comes at a time when the government is receiving many conflicting studies as to the adverse effects of gambling in society. According to the researchers three is an issue with potential harm due to the close relationship between gambling companies and the football clubs and they have urged the government to look into this. According to Dr. Chris Bunn of the institute of health and well being at the University of Glasgow, ” When sponsorship crosses borders, as in the case of the Premier League which has as many as three billion viewers globally, it can have costs and consequences for societies less equipped than ours to assist those whose gambling becomes problematic.” The research shows that the gambling companies wasted no time on capitalizing on the relaxed legislation and have since invested heavily on shirts’...

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