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  1. #1
    Moderator - Big Kahuna Dominique's Avatar
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    Default Sportingbet exec is free on bail!

    My guess there will be nothing that can stick anyway, it's just the best chilling effect they have been able to launch to date.

    Directly affecting another conference.

    Anyway, here goes:

    http://news.bbc.co.uk/1/hi/business/5326602.stm

    In a statement to the London Stock Exchange, Sportingbet vowed to continue operating as normal, including continuing to accept bets from the US.
    These folks will not roll over and play dead.

    I never thought I'd say that, but more power to them!
    dominique




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  2. #2
    Senior Member Greek39's Avatar
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    Thumbs up

    Thanks Dominique good find. Perhaps this will quiet the fears over the CAC Vegas event. greek39
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  3. #3
    Senior Member and Moderator bonustreak's Avatar
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    Default

    Thanks so much Dom for the find, hope this makes a few managers feel at ease a bit and change their minds to come to Vegas after all.
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  4. #4
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    Default

    I think this quote pretty much sums it all up:

    At a brief hearing in the Queens county court, his lawyer, Peter Neiman told the court: "He is really not a flight risk. This is not some mobster who has connections to the crime world."
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  5. #5
    Moderator - Big Kahuna Dominique's Avatar
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    You betcha.
    dominique




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  6. #6
    Senior Member webber286's Avatar
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    Default

    This is an important one for our industry. BoS seemed to have some organized crime ties, (hence the racketeering charges) and it seems pretty clear that SportingBet isn't in the same boat. It is also interesting that this is being brought up by the state of Louisiana (nothing more important to focus on?), rather than the Feds. Seems like the feds wouldn't want this to be the case, since precedent could be set by a weaker case. If SportingBet wins this one, it seems to set a clear path for the rest of the industry (the one's who operate on the up-and-up that is).

    Also, I am wondering about the $12B figure that we hear thrown about so much. SportingBet is reporting $1.2B in turnover, so that makes them 10% of the entire market. If that is truly the case, these guys control a lion's share of the industry. Either that, or the $12B number is actually too low. I am apt to believe the latter given that 888, PartyGaming, FullTilt, PokerStars and many others seem to be so large themselves. Could be true I guess, just hard to believe that anyone has 10% marketshare of the entire online gambling industry.
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  7. #7
    New Member Ryan's Avatar
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    I'm not familiar with their business as we're totally removed from sportsbetting...

    but in general that 12b number is how much the industry is worth on an annual basis. How many times that money is turned over would be much greater. Take casino with an average margin of 3%. 12b / 3% = 400b in turnover. Which means for online casinos to have revenue of 12b, it would take approx 400b in turnover.

    I would suspect the sportsbetting industry makes a different margin than casino, but you get the idea.

    So if all online gaming had the same margin and that 400b was an accurate guesstimate of the actual global turnover then their 1.2b in turn over would have them 1.2/400 = 0.3% market share.
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  8. #8
    Member pearlgaming's Avatar
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    Superb news, hopefully some folks will reconsider their cancellations at the CAC.

    Karim
    Pearl Gaming
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  9. #9
    Senior Member webber286's Avatar
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    Thanks for the clarification Ryan. That makes more sense then. 0.3% sounds more than realistic a marketshare for them.
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