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FINANCE MINISTER MICHAEL Noonan has said that he hopes a new Bill which is in a “well advanced” stage will significantly boost the tax base available from the ever-growing betting sector.
Announced in Budget 2011, the new legislation will increase betting duty receipts by bringing the tax collected on internet bets in line with what is currently paid by punters in-store.
Responding to a parliamentary question last week, Noonan said he wants to publish the Betting (Amendment) Bill before the Dáil breaks for summer holidays later this month.
Read More: Noonan hopes for significant boost from new betting taxes The Score
Announced in Budget 2011, the new legislation will increase betting duty receipts by bringing the tax collected on internet bets in line with what is currently paid by punters in-store.
Responding to a parliamentary question last week, Noonan said he wants to publish the Betting (Amendment) Bill before the Dáil breaks for summer holidays later this month.
Read More: Noonan hopes for significant boost from new betting taxes The Score
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Online gaming firm bwin.party says it has been hit by weak poker revenues and the lack of shock results at the Euro 2012 football championship.
Bwin.party has a portfolio of online gaming businesses, across several geographies, and is particularly pleased with the launch of its new Spanish sites, that it says give it a top three market position in the country.
However, trading has been affected by “continued pressures” on online poker, while Euro 2012 did not deliver the hoped for profits because of “the majority of results following the predicted path.” In other words, punters bet on Spain, and Spain won.
Read More: Bwin.party hit by 'predictable' Euro 2012 | ShareCast - News you can use
Bwin.party has a portfolio of online gaming businesses, across several geographies, and is particularly pleased with the launch of its new Spanish sites, that it says give it a top three market position in the country.
However, trading has been affected by “continued pressures” on online poker, while Euro 2012 did not deliver the hoped for profits because of “the majority of results following the predicted path.” In other words, punters bet on Spain, and Spain won.
Read More: Bwin.party hit by 'predictable' Euro 2012 | ShareCast - News you can use
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Analysts cut their earnings expectations for Bwin. party after the online gambling group warned that the introduction of a sports betting tax in Germany would dent its full year figures.
The FTSE 250 group said Germany’s introduction of a 5 per cent tax would knock €5m-€10m from its full-year earnings before interest, tax depreciation and amortisation.
Although Bwin. party had already flagged that the tax would affect its earnings, the news prompted analysts to cut their full-year earnings per share estimates by 7-8 per cent.
Read More: www-ft-com/cms/s/0/42d42cbe-ca6e-11e1-89f8-00144feabdc0-html#axzz20IAXhDVC
The FTSE 250 group said Germany’s introduction of a 5 per cent tax would knock €5m-€10m from its full-year earnings before interest, tax depreciation and amortisation.
Although Bwin. party had already flagged that the tax would affect its earnings, the news prompted analysts to cut their full-year earnings per share estimates by 7-8 per cent.
Read More: www-ft-com/cms/s/0/42d42cbe-ca6e-11e1-89f8-00144feabdc0-html#axzz20IAXhDVC
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Ralph Topping, chief executive of William Hill Plc., used his personal blog to call for online social gaming to be regulated. Topping said the London-based firm has adopted a "watching brief" stance when it comes to social gaming.
"Social gaming is no longer the next big thing for gambling, it is already a very big thing," Topping wrote. "Over one billion dollars has already been spent by 'traditional' gambling companies alone in mergers and acquisitions and hundred of millions of dollars in revenue is already being generated."
Topping said Tuesday the United States was the largest market for social gaming, because "most 'traditional' online gambling is banned."
Read More: William Hill's CEO wants social gaming regulated - Business - ReviewJournal-com
"Social gaming is no longer the next big thing for gambling, it is already a very big thing," Topping wrote. "Over one billion dollars has already been spent by 'traditional' gambling companies alone in mergers and acquisitions and hundred of millions of dollars in revenue is already being generated."
Topping said Tuesday the United States was the largest market for social gaming, because "most 'traditional' online gambling is banned."
Read More: William Hill's CEO wants social gaming regulated - Business - ReviewJournal-com
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Earlier this week the US media in Washington contacted influential political figures to try to ascertain whether legalized and regulated online gambling could become a reality in the country this year. There are two online gambling bills currently at committee stage in the House of Assembly. Texas Congressman Joe Barton’s bill focuses on Internet poker rather than online gambling generally. Californian Congressman John Campbell’s bill deals with all of online gambling. Barton’s bill is less contentious and therefore has a greater chance of being passed.
Some interesting comparisons were revealed in the media consultations. Barton’s bill proposes a regulatory and licensing regime overseen by the Department of Commerce. Campbell’s bill proposes that the Secretary of the Treasury should be responsible for the licensing of online gambling. Both bills give the states the option of exclusion from the regime. Politicians were unanimous that any of the bills could be passed only if were to be included somehow in the lame duck session of Congress. The reasons are overloaded work schedules, the summer recess and presidential elections.
Read More: US Media Mulls Online Gambling Possibilities
Some interesting comparisons were revealed in the media consultations. Barton’s bill proposes a regulatory and licensing regime overseen by the Department of Commerce. Campbell’s bill proposes that the Secretary of the Treasury should be responsible for the licensing of online gambling. Both bills give the states the option of exclusion from the regime. Politicians were unanimous that any of the bills could be passed only if were to be included somehow in the lame duck session of Congress. The reasons are overloaded work schedules, the summer recess and presidential elections.
Read More: US Media Mulls Online Gambling Possibilities
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Sports betting has been regulated with authorities levying a ten percent revenue tax on all operators as the Cypriot House of Representatives has passed controversial legislation that prohibits online casino games and exchange betting.
The betting bill made it through the House of Representatives Legal Affairs Committee last week before a full parliamentary vote on Friday saw a majority of Representatives approve the measure.
The bill regulates gaming and legal betting and provides for a tax on net betting revenue (after winnings). The reasoning for the ban is the state is worried it is losing billions in tax revenues to online casinos as well as exchange betting, where punters bet directly with each other using a company as an intermediary.
Read More: Betfair and Cyprus Clash Over New Online Gambling Restrictions | Casino Scam Report
The betting bill made it through the House of Representatives Legal Affairs Committee last week before a full parliamentary vote on Friday saw a majority of Representatives approve the measure.
The bill regulates gaming and legal betting and provides for a tax on net betting revenue (after winnings). The reasoning for the ban is the state is worried it is losing billions in tax revenues to online casinos as well as exchange betting, where punters bet directly with each other using a company as an intermediary.
Read More: Betfair and Cyprus Clash Over New Online Gambling Restrictions | Casino Scam Report
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FOUR out of every five problem gamblers in South Australia are addicted to pokies - despite the growth of online and sports betting.
A profile of problem gamblers treated by the Flinders University School of Medicine shows less than 1 per cent said they had a problem gambling online but 83.9 per cent admitted to poker machine addiction.
Flinders University Professor of Psychiatry Malcolm Battersby said experts did not know why a boom in sports betting and online gambling had not yet translated to an increase in problem gamblers.
In recent months, anti-gambling advocates have switched their focus to newer forms of gambling, especially the promotion of betting odds during AFL games.
Read More: Gambling addicts prefer poker machines to online or sports betting | adelaidenow
A profile of problem gamblers treated by the Flinders University School of Medicine shows less than 1 per cent said they had a problem gambling online but 83.9 per cent admitted to poker machine addiction.
Flinders University Professor of Psychiatry Malcolm Battersby said experts did not know why a boom in sports betting and online gambling had not yet translated to an increase in problem gamblers.
In recent months, anti-gambling advocates have switched their focus to newer forms of gambling, especially the promotion of betting odds during AFL games.
Read More: Gambling addicts prefer poker machines to online or sports betting | adelaidenow
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Social gaming is often cited as the largest market opportunity in gaming of the last decade. The industry exploded onto the scene, piggybacking on the meteoric rise of Facebook to encompass hundreds of millions of users and billions of dollars in less than five years. However, when you compare social gaming to the growth of the online gambling industry, you’ll see that online gambling has almost doubled in the same time period, adding 282% more value than social gaming. Social and mobile real-money gambling is the biggest opportunity for game developers since the Facebook platform.
Read More: Gamasutra: Tyler York's Blog - Social Gaming + Gambling: An Intersection of Opportunity
Read More: Gamasutra: Tyler York's Blog - Social Gaming + Gambling: An Intersection of Opportunity
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2006/12/07
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The car-wreck that is Charlie Sheen’s life continues to be a source of entertainment for watchers and a source of income for him. Both seem to be getting what they want out of his new show, Anger Management, which airs on FX and is preparing for its fourth episode. But what are the odds that it makes it to the second season?
Join Bovada Sportsbook right now and bet Entertainment Props!
Bovada odds makers are actually backing the former Two and a Half Men star as they posted the lines at -140 that the show will get renewed opposed to the even odds that the show will head to the sitcom scrap heap. The show stars Sheen as a man named (what else?) Charlie, who is a therapist that has his own problems with anger management. It’s a role similar to the one that Jack Nicholson played in the 2003 movie of the same name with Adam Sandler. The first episode on FX set records for the most-watched sitcom in cable history with over 5.7 million viewers and millions of those are probably long-time fans of Sheen’s that left his former show, which is still on the air but has struggled without Sheen.
Will Anger Management be renewed for a second season on FX?
Yes -140
No EVEN
The show has a few guest hosts lined up such as Brian Austin-Green and Sheen’s ex-wife, Denise Richards, who also showed up on Two and a Half Men from time to time. If they can hold that off until next season, that attraction alone could be enough to get them to Season 2. However, they may not need it as Sheen has a legion of faithful followers (who can forget the frenzy that was caused by Sheen joining Twitter?) that will watch anything he is on. Besides, with all the other programs that are getting a second season, Sheen has enough pull in Hollywood to make sure he gets another season for Anger Management.
Join Bovada Sportsbook right now and bet Entertainment Props!
Bovada odds makers are actually backing the former Two and a Half Men star as they posted the lines at -140 that the show will get renewed opposed to the even odds that the show will head to the sitcom scrap heap. The show stars Sheen as a man named (what else?) Charlie, who is a therapist that has his own problems with anger management. It’s a role similar to the one that Jack Nicholson played in the 2003 movie of the same name with Adam Sandler. The first episode on FX set records for the most-watched sitcom in cable history with over 5.7 million viewers and millions of those are probably long-time fans of Sheen’s that left his former show, which is still on the air but has struggled without Sheen.
Will Anger Management be renewed for a second season on FX?
Yes -140
No EVEN
The show has a few guest hosts lined up such as Brian Austin-Green and Sheen’s ex-wife, Denise Richards, who also showed up on Two and a Half Men from time to time. If they can hold that off until next season, that attraction alone could be enough to get them to Season 2. However, they may not need it as Sheen has a legion of faithful followers (who can forget the frenzy that was caused by Sheen joining Twitter?) that will watch anything he is on. Besides, with all the other programs that are getting a second season, Sheen has enough pull in Hollywood to make sure he gets another season for Anger Management.
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2006/12/07
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Online gaming operator Paddy Power, which is considered the top legal bookmaker in the United Kingdom, Canada and Australia, was granted a preliminary finding of suitability to operate in Nevada by state gaming regulators Wednesday.
The company, which is based in Ireland, does yet not have any business interests in Nevada.
However, Paddy Power Chief Executive Officer Patrick Kennedy told the Gaming Control Board during an hourlong hearing it was actively exploring gaming opportunities in Nevada and other American markets.
"The U.S. is a key potential new market for us," Kennedy said.
Read More: Online gaming operator Paddy Power passes regulators' first test - Business - ReviewJournal-com
The company, which is based in Ireland, does yet not have any business interests in Nevada.
However, Paddy Power Chief Executive Officer Patrick Kennedy told the Gaming Control Board during an hourlong hearing it was actively exploring gaming opportunities in Nevada and other American markets.
"The U.S. is a key potential new market for us," Kennedy said.
Read More: Online gaming operator Paddy Power passes regulators' first test - Business - ReviewJournal-com
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It was recently announced that gaming equipment supplier Shuffle Master is one step closer to earning an online gaming license in the state of Nevada. The state Gaming Control Board gave the company preliminary approval for a license just yesterday to be able to provide as well as manufacture interactive gaming systems.
Shuffle Master must now be approved by the Nevada Gaming Commission and if they are approved the company would become the third company to be licensed to offer online gaming in the state of Nevada. Bally Technologies and International Game Technology were the first to be approved for the licensing.
Read More: Shuffle Master One Step Closer to Nevada Online Gaming License
Shuffle Master must now be approved by the Nevada Gaming Commission and if they are approved the company would become the third company to be licensed to offer online gaming in the state of Nevada. Bally Technologies and International Game Technology were the first to be approved for the licensing.
Read More: Shuffle Master One Step Closer to Nevada Online Gaming License
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2006/12/07
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In the online gambling world it has become essential that operators know where and who is using their domain location. As the laws governing internet wagering become increasingly dependent on locating where a player is coming from firms have come into being that focus on secure geopositioning.
One such company that is highly regarded in mobile Geopositioning technology is GeoComply which is focused on continually developing and implementing leading geolocation technology solutions for regulated markets and industries. With the technology comes the opportunity to offer online products and services into sovereign jurisdictions which have been previously unavailable due to a lack of confidence in the Geopositioning of online users.
Read More: GeoComply Teams up with Probability Mobile Gambling Provider
One such company that is highly regarded in mobile Geopositioning technology is GeoComply which is focused on continually developing and implementing leading geolocation technology solutions for regulated markets and industries. With the technology comes the opportunity to offer online products and services into sovereign jurisdictions which have been previously unavailable due to a lack of confidence in the Geopositioning of online users.
Read More: GeoComply Teams up with Probability Mobile Gambling Provider
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As online gambling legislation moves toward legalization, some companies could be positioned to move into the real-money sweepstakes.
With the legalization of online gambling activities quickly sweeping through the nation, some of the top sportsbooks and the leading play-for-free poker companies could be in positions to make a move into the real money sweepstakes.
Zynga (ZNGA), which runs a very popular brand of free poker over social networks, has seen its poker brand grow by leaps and bounds over the last year. It’s no coincidence that over that same time, various scandals surrounding UltimateBet and Full Tilt Poker have reduced the number of options for players to play paid poker. Many of those people have turned to Zynga to get their fix.
Read more: Will Zynga Make The Switch To Real Money? | Sports Business | Minyanville-com
With the legalization of online gambling activities quickly sweeping through the nation, some of the top sportsbooks and the leading play-for-free poker companies could be in positions to make a move into the real money sweepstakes.
Zynga (ZNGA), which runs a very popular brand of free poker over social networks, has seen its poker brand grow by leaps and bounds over the last year. It’s no coincidence that over that same time, various scandals surrounding UltimateBet and Full Tilt Poker have reduced the number of options for players to play paid poker. Many of those people have turned to Zynga to get their fix.
Read more: Will Zynga Make The Switch To Real Money? | Sports Business | Minyanville-com
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Figures for mobile devices and their popularity continue to dominate in the news. Mobile devises are expected to overtake sales of desktop and laptop computers. The reason is that your cell phone, for example is always with you. You can play anytime you want.
General estimates from world data sources are that mobile use has doubled since 2010. It now accounts for 10% of world-wide Internet usage. But for some countries, such as India calculations for Internet usage from mobile devices is already nearing 50%.
Read More: 4G Mobile Technology To Speed Growth of Online Gambling
General estimates from world data sources are that mobile use has doubled since 2010. It now accounts for 10% of world-wide Internet usage. But for some countries, such as India calculations for Internet usage from mobile devices is already nearing 50%.
Read More: 4G Mobile Technology To Speed Growth of Online Gambling
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The UK internet gambling group Betfair has threatened Cyprus with legal action after the country made most forms of online gambling and exchange betting illegal. According to Betfair the new legislation contains some “serious flaws” and is even “inconsistent with European Union law”.
Betfair have said that they are now working with advisors to “understand the potential implications on our business” and will then be taking any necessary steps in order to “reduce the impact on profitability through both legal action and cost management”.
Around 4% of Betfair’s revenues (about £9 million) came from the Cypriot gambling market last year so the group is understandably eager to continue operating.
Read More: BetFair Consider Legal Action Against Cyprus - Online Casino Archives
Betfair have said that they are now working with advisors to “understand the potential implications on our business” and will then be taking any necessary steps in order to “reduce the impact on profitability through both legal action and cost management”.
Around 4% of Betfair’s revenues (about £9 million) came from the Cypriot gambling market last year so the group is understandably eager to continue operating.
Read More: BetFair Consider Legal Action Against Cyprus - Online Casino Archives
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Advertisement
I’ve been waiting a long time to say this: For once I agree with Blair Lee.
In fact, he beat me to the computer keyboard when he laid out in print last week the obvious solution to Maryland’s casino soap opera.
This isn’t rocket science or brain surgery. If Blair can figure it out — despite his distaste for government reliance on gambling income — so can the dimmest bulb in the House of Delegates.
The salient facts are clear. Maryland desperately needs tax revenue from an extra slots site and table games at all six facilities. Next year’s budget hole already tops $500 million.
Maryland also desperately needs the economic stimulus and 8,500 jobs that would flow from an $800 million development.
So let’s keep things simple, as Blair suggested, and strip this issue to the bare bones.
Read More: Gazette.Net: Barry Rascovar: Gaming needed, but don’t count on lawmakers
I’ve been waiting a long time to say this: For once I agree with Blair Lee.
In fact, he beat me to the computer keyboard when he laid out in print last week the obvious solution to Maryland’s casino soap opera.
This isn’t rocket science or brain surgery. If Blair can figure it out — despite his distaste for government reliance on gambling income — so can the dimmest bulb in the House of Delegates.
The salient facts are clear. Maryland desperately needs tax revenue from an extra slots site and table games at all six facilities. Next year’s budget hole already tops $500 million.
Maryland also desperately needs the economic stimulus and 8,500 jobs that would flow from an $800 million development.
So let’s keep things simple, as Blair suggested, and strip this issue to the bare bones.
Read More: Gazette.Net: Barry Rascovar: Gaming needed, but don’t count on lawmakers
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2006/12/07
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If the regulations were changed and the government allowed online gambling, then the government would be able to tax it.
With a gigantic federal deficit and a number of state deficits out of order, the thought of growing the sportsbook industry and loosening the regulations for online gambling is a hot topic in the United States. The real question is: What types of tax revenue benefits are there if sportsbooks are legalized?
There are always the negative concerns about gambling that are brought up: Addiction, obsession, and regular people losing money. At the same time, those in favor of online gambling would suggest that it’s merely a form of entertainment. Some people spend money on theater, some people spend it on travel, and some wish to spend it on gambling. Who is the government to stop it?
Read more: Why Online Gambling Can Provide Plenty Of Tax Revenue | Sports Business | Minyanville-com
With a gigantic federal deficit and a number of state deficits out of order, the thought of growing the sportsbook industry and loosening the regulations for online gambling is a hot topic in the United States. The real question is: What types of tax revenue benefits are there if sportsbooks are legalized?
There are always the negative concerns about gambling that are brought up: Addiction, obsession, and regular people losing money. At the same time, those in favor of online gambling would suggest that it’s merely a form of entertainment. Some people spend money on theater, some people spend it on travel, and some wish to spend it on gambling. Who is the government to stop it?
Read more: Why Online Gambling Can Provide Plenty Of Tax Revenue | Sports Business | Minyanville-com
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The recent European Parliament statement of intent on online gambling seems to have galvanized some action. This week there is news from the European Court of Justice (ECJ) and the European online gambling regulators meet.
The ECJ decision came in connection with the rejection by Austrian authorities of an advertising permit application submitted by a casino operated in Slovenia. The court ruled that a European Union (EU) Member State cannot prohibit gambling advertising from another Member State merely on grounds that the protection guaranteed in that Member State is not identical to the domestic rules. What is more important is that the ECJ provided clarifications on how Member States must address cross border gambling advertising.
Read More: European Court Formulates Online Gambling Guidelines
The ECJ decision came in connection with the rejection by Austrian authorities of an advertising permit application submitted by a casino operated in Slovenia. The court ruled that a European Union (EU) Member State cannot prohibit gambling advertising from another Member State merely on grounds that the protection guaranteed in that Member State is not identical to the domestic rules. What is more important is that the ECJ provided clarifications on how Member States must address cross border gambling advertising.
Read More: European Court Formulates Online Gambling Guidelines
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2006/12/07
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Bet365 is among seven online gambling operators readying to introduce their wares to the German market, after recently being operated licenses by the northern state of Schleswig-Holstein.
First, to resolve outstanding issues
The seven operators awarded licenses are bet365, Betfair, bet-at-home, bwin.Party, mybet, NordwestLotto and Tipico. Before operating, they must come to a consensus about whether to pay the 20 percent gross profits tax stipulated by their Schleswig-Holstein licence or to pay the 5% tax on turnover demanded by federal law.
Fifteen of Germany's 16 states last year decided to ban all online casino and poker games, with only the renegade Schleswig-Holstein voting to allow it. This is the reason most online gambling companies have chosen to relocate there, but have still not opened local sites as they have done in Spain, Italy and other European countries.
Read More: Bet365, Others Ready for German Online Gambling - Industry Coverage - Onlinecasinoreports-com
First, to resolve outstanding issues
The seven operators awarded licenses are bet365, Betfair, bet-at-home, bwin.Party, mybet, NordwestLotto and Tipico. Before operating, they must come to a consensus about whether to pay the 20 percent gross profits tax stipulated by their Schleswig-Holstein licence or to pay the 5% tax on turnover demanded by federal law.
Fifteen of Germany's 16 states last year decided to ban all online casino and poker games, with only the renegade Schleswig-Holstein voting to allow it. This is the reason most online gambling companies have chosen to relocate there, but have still not opened local sites as they have done in Spain, Italy and other European countries.
Read More: Bet365, Others Ready for German Online Gambling - Industry Coverage - Onlinecasinoreports-com
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The group said that a number of its licensees would be launching casino and poker products into the newly regulated Spanish market, with more due in the coming weeks.
According to a press release by Playtech, its licensees under Spanish regulation "include a combination of existing licensees as well as local gaming and media companies aiming to leverage their market leading position and well recognised brands that appeal to local players."
Read More: Playtech Licensees Make Headway In Spanish Market - GamblingKingz-com