Gambling News

  • 17 September 2015

    California Daily Fantasy Sports Regulations Proposed

    There has been a pretty fierce battle going on in California over the online poker industry for the past few years, and a bill supporting it has failed once again because of political issues between racetrack operators, native tribes and other groups. The same person who proposed the poker legislation Assemblyman Adam Gray is behind a new proposal to regulate and provide licensing processes for daily fantasy sports sites to operate in the state.

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  • 17 September 2015

    Playtech's Teddy Sagi Strong on Israel Wealth List

    In the online gambling world, Teddy Sagi is a big name when it comes to the business side of things. He has had strong ties with Playtech for a very long time, and he is currently their principle shareholder. Sagi is known for making a lot of major deals in different industries, and his deals so far this year have seen him almost double his net worth. This has shot him up on the list of the most wealthy individuals in Israel, and he is currently in the number six spot on the list.

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  • 17 September 2015

    Mt. Gox CEO Charged by Japanese Authorities

    At one point in time, about four-fifths of all bitcoin exchanges were handled by Mt. Gox, then the top exchange by far for bitcoin transactions. Having what seemed to be such a solid operation taking over such a large portion of the market helped the cryptocurrency to gain a lot of attention with huge fluctuations in its value. This all came crashing down when the Tokyo-based company was accused of fraud and a number of other crimes.

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  • 16 September 2015

    Caesars Entertainment Fined $9.5 Million in Penalties

    Money laundering is something that's often tied to gambling because of how relatively easy it can be to launder money through gambling establishments. This is largely due to the cash nature of the business and how casino chips are mixed up and traded back and forth during games. Different casinos have to adhere to rules that help to prevent money laundering, and Caesars Entertainment found out the hard way that they weren't doing enough with a $9.5 million penalty.

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  • 16 September 2015

    GameAccount Network Rebrands to GAN

    A company's identity, no matter what industry they are in, is largely tied up in their branding. We saw this a few years ago when MoneyBookers switched its branding and identity to Skrill and pushed on to be one of the top online gambling payment processing options before being purchased by the parent company of Neteller. The GameAccount Network has decided that it's time for them to rebrand as well, so effective September 9, they will now be branded as GAN.

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  • 16 September 2015

    Isle of Man Sees Major Online Gambling Growth

    The Isle of Man is known for being one of the most reputable jurisdictions for online gambling in the world. It's where some of the biggest names have been based in the entire industry, and it's well-respected by everyone involved in the industry in any way. A recent report has shown that they have been growing quite a bit in this industry over the past year, and they generate a ton of revenues and jobs from it.

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  • 12 September 2015

    Optimal Payments Proposing Change of Name

    In the online gambling world, a name can mean everything. This is even more true for payment processors, who are often considered the front lines for trust because that's where a player puts their money first. After Optimal Payments brought on Skrill in their reverse takeover worth about €1.1 billion, it seems they're looking for a new identity. That new identity could be the Paysafe Group.

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  • 11 September 2015

    New Bitcoin-Based Gambling Site Chopcoin Opens

    When bitcoin exploded in popularity over the past 18 months, it created a situation where a lot of people thought it would be perfect for online gambling transactions. The crypto-currency is particularly anonymous, though sometimes to the point of fault for some users, and it seemed perfect for many people who wanted security and safety with their online gambling transactions.

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  • 07 September 2015

    Bwin.Party Shows Huge Support for GVC Proposal

    One of the biggest topics going in the online gambling industry over the past couple of months has been the big bidding war between GVC and 888 Holdings for the purchase of Bwin.Party. We've seen them go back and forth with bigger and bigger proposals, but it seems like we might finally be getting towards the end of this extremely entertaining struggle. GVC Makes Massive Offer The previous offer by 888 Holdings was for a total of £898.

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  • 07 September 2015

    888 Holdings Officially Drops From Bwin.Party Bidding

    Since July, 888 Holdings has been fighting a fierce and entertaining bidding war with GVC Holdings over the purchase of Bwin.Party. We've seen big offers countered by even bigger offers, and the advantage has switched back and forth a number of times during this whole ordeal. However, it looks like GVC is officially the winner now because the 888 Holdings board has pulled support for any deal with Bwin.Party.

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  • 03 September 2015

    Net Entertainment Games Launch in New Jersey

    Over the past few weeks, Net Entertainment has been waiting to hear from the New Jersey Division of Gaming Enforcement on their license. Since that review could take some time, the DGE has granted NetEnt a wavier to offer games in the state while their official application is still under review. This is something that they have done before, but it's not something that they've done for all software companies, and there are some big reasons behind that.

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  • 01 September 2015

    Daily Fantasy Sports Confirmed Illegal in Washington

    Daily fantasy sports is probably the single fastest-growing segment of the online gambling industry for the past 12-18 months. It has absolutely exploded with the top companies securing major deals with sports teams, ESPN and other sports-related entities. While it's definitely a skill-based contest, Washington state doesn't really care because their ridiculous laws prohibit it anyway according to a recent statement by the Washington State Gambling Commission.

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  • 31 August 2015

    Dutch Online Gambling Grows Despite No Regulation

    Something that regulators are really starting to understand more and more each year is that online gambling is going to grow according to the demand for it, not how much politicians cross their fingers and hope that it will either grow or go away. That's exactly what the Dutch government is finding out right now. Regulator Kansspelautoriteit has found that there is going to be a year-on-year growth of about 7.

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  • 31 August 2015

    GVC and Bwin.Party Release New Takeover Statements

    For weeks now, there has been a massive bidding war for the sale of Bwin.Party. The main contenders are GVC Holdings and 888 Holdings, and neither of them are letting up an inch without a fight. It's an extremely entertaining process because of all of the tension combined with in-fighting in Bwin.Party. In the middle of all of that, GVC and Bwin.Party have released new statements. Yet Another Proposed Deal In the most recent proposed deal, Bwin.Party has been valued at 124p per share.

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  • 30 August 2015

    Sportingbet Stays in Irish Market Too Long by Accident

    Online gambling law is constantly changing, and the fact that different operators have to work with regulatory entities in different countries, states and provinces all over the world means that there are going to be some mix-ups from time to time. Sportingbet found this out the hard way when they allowed around 200 Irish players to make bets they weren't supposed to take due to new licensing processes.

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  • 27 August 2015

    Playtech and GBG Make ID Verification Deal

    In the online gambling world, it's extremely important for sites and software platforms to be able to verify the identities of their players. Preventing fraud is one of the keys to keeping profits high and avoiding negative press, not to mention keeping players safe and satisfied. Playtech has been one of the biggest software providers around for several different types of online gambling for a long time, and they've recently inked a deal with GBG to provide ID verification.

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  • 27 August 2015

    PayPal Purchases Modest Mobile Payment Business

    The online gambling industry as a whole has been pushing very hard on the mobile front with games, platforms and software. However, one place where development has been lagging, comparatively speaking, is in payment processing. PayPal has recently purchased Modest, a start-up in the mobile payment processing sector, and it's an acquisition that could provide a model for making deposits and requesting withdrawals that the industry could leverage in a major way.

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  • 25 August 2015

    New Bitcoin XT Version Splits Community

    Bitcoin changed the face of online gambling for many people by being a viable, anonymous method of making deposits and taking withdrawals. However, the new Bitcoin XT, created by Mike Hearn, has received a big backlash from the Bitcoin community because of concerns that it will split and water down the currency in a way that will erode trust in the biggest virtual currency.

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  • 25 August 2015

    Genii Providing 130+ Games for Altenar Gaming Solution

    In a new deal, Genii will be providing over 130 games for the Altenar Gaming Solution, which helps Altenar in the mobile space in a tremendous way. Mobile is the fastest-growing part of the online casino world, and it has been for the past several years. Tons of people are on their phones more than they are their computers, so it makes sense that this would be the area that's seeing the most growth.

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  • 17 August 2015

    New Jersey Online Gambling License Awarded to Resorts

    Online gambling in the United States is at an extremely critical point right now where a few states have regulated the industry, but not enough states have banded together yet to really get a federal framework. In spite of that, New Jersey has shown once again that they have no intention of slowing down in the least bit by awarding a new online gambling license.

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  • 14 August 2015

    UK Gambling Commission: List of Approved ADR Entities

    In the United Kingdom, there have been some huge changes in how online gambling is handled inside of the past 18 months. One of the biggest changes that benefits players is the Alternative Dispute Resolution for Consumer Disputes process. The way that this works is that each operator that's licensed by the UK has to use at least one of the ADR entities by the beginning of this September. These entities will mediate in the case of disputes for the players.

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  • 12 August 2015

    Macho Sports Illegal Sports Betting Sentencing Complete

    Of all of the different types of gambling out there, it seems like sports betting is the type that gets the most attention to being tied to different types of crime. This is definitely the case for the operators of Macho Sports who were hit with a handful of different federal charges after a sting operation ended with them forfeiting millions of dollars in assets.

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  • 10 August 2015

    Asset protection does not protect you from the Internal Revenue Service

    Dear Reader, This Blog could be one sentence long: “Asset protection does not protect you from the Internal Revenue Service!” Since some will doubt me, and many have tried to beat the Collector (the most powerful arm of the U.S. government targeted at citizens rather than terrorists), here are 10 reasons why asset protection is useless against the government. First, the homestead exemption does not apply to the IRS.

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  • 09 August 2015

    Unibet Purchases iGaming Holding in Continued Expansion

    In a move that expands in key areas, Unibet has purchased iGaming Holding plc. This deal was made for €59 million in cash, and another €20 million could be on the way based on future performance. This is a pretty typical deal for a purchase of this size, and it just goes to show that Unibet is continuing to expand. However, they aren't just expanding in any direction they can for the sake of it. Instead, they're growing in a very strategic way.

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  • 05 August 2015

    Coingaming Launches Bitcoin Online Sportsbook Software

    When bitcoin started becoming popular a couple of years ago, one of the things that people naturally gravitated to was the idea that it could be used to fund online gambling accounts. The anonymous aspect of the transactions made it really easy to see some advantages of this. Coingaming was a software company that jumped at this opportunity and started created software solutions for operating online gambling sites based around bitcoin.

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  • 05 August 2015

    Amaya Sells Chartwell and CryptoLogic to NYX Gaming

    The Amaya Gaming Group has made an enormous amount of noise in the news over the past year, and they've done it again with a key deal that shows a lot about their investment strategies. They have sold Chartwell and CryptoLogic, two online casino software providers, to NYX Gaming. This deal was for $110 million in cash and $40 million in stock, and this comes after they've held both companies for less than four years. The Original Purchase Back in 2011, the Amaya Gaming Group bought Chartwell.

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  • 02 August 2015

    Malta Gaming Authority Pulls Three Mob-Linked Licenses

    In an interesting move, the director of Fenplay Ltd was arrested recently because of his connection with the 'Ndrangheta betting network. Vincenzo Giuliano was arrested along with 27 others in this investigation of the Italian mafia. Along these lines, Fenplay has seen its license suspended by the Malta Gaming Authority, and they have been told to stop all activities. Players are able to email the Malta Gaming Authority at support.mga@mga.org.

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  • 01 August 2015

    GVC Continues Push for Bwin.Party

    The bidding war for Bwin.Party has been primarily held between two groups. On the one hand, you have 888 Holdings, and on the other hand, you've had a cooperative effort between GVC and the Amaya Gaming Group. The GVC-Amaya cooperation was thought to have lost the bidding battle to 888 Holdings after an earlier announcement, but it seems like GVC just won't quit. They've announced a new offer to Bwin.

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  • 01 August 2015

    Rival Gaming Leaves the UK Market

    In the past couple of years, the United Kingdom has revamped how they handle the licensing and taxes for online gambling companies. This includes software companies that offer games to operators, and these new regulations have put a number of companies in a bind because of how difficult it is to stick to the guidelines that the UK requires for compliance. Rival Gaming is the latest in a number of companies who have decided to leave the market instead of sticking around.

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  • 01 August 2015

    Beteagle Owner Joseph Graziano Gets 18-Month Sentence

    Beteagle is an online sportsbook that was owned by Joesph Graziano, and it offered its services to United States players. This earned him an 18-month prison sentence, a $1 million forfeiture, another $16,000 fine, and three years of supervised release. His associate Dominick J Barone had already pleaded guilty to related charges, and Joseph Lascala is set to be charged as well. These figures are all connected to organized crime in the area.

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