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ANOTHER QUEEN'S AWARD FOR BETFAIR

ANOTHER QUEEN'S AWARD FOR BETFAIR Betting exchange concept recognised as a major and innovative success Online gambling group Betfair has again been recognised by a Queen's Award for Enterprise - the second in its eight year corporate history. Five years ago the company achieved the award in the Innovation category for creating the first successful betting exchange, a new concept that meant a better deal for customers and greater protections within the betting industry.  Since then, Betfair has grown substantially from a company ... Read more
 

GOOD QUARTERLY GROWTH AT UNIBET

GOOD QUARTERLY GROWTH AT UNIBET First quarter gains include a foreign exchange boost on operating items of GBP 2.4 million The Malta and UK based online gambling group Unibet published positive first quarter results this week, recording an increase in gross win revenues to GBP 31.3 million (2007 Q1: GBP 21.6 million) However, pre-tax profits dropped to GBP 2.9 million (Q1 2007: GBP 8.8 million). Currency exchange losses of GBP 5.6 million were incurred on a Euro 100 million bond Unibet took out ... Read more
 

AUSSIE ONLINER STOLE AUS$340 000 TO FEED ADDICTION

AUSSIE ONLINER STOLE AUS$340 000 TO FEED ADDICTION 32 year old financial adviser tells criminal court he is sorry The tragic consequences of gambling addiction were on display in an Adelaide, Australia law court this week when former financial adviser Kym Andrew Sellers (32) admitted liability and apologised to his victims and former employer. ABC Online reports that the former financial adviser stole more than Aus$340 000 from clients by selling shares belonging to his customers at the Adelaide firm Taylor Collison. The money ... Read more
 

REGULATION AND LICENSING FOR DANISH ONLINE GAMBLING MARKET (Update)

REGULATION AND LICENSING FOR DANISH ONLINE GAMBLING MARKET (Update) Speculation appears to be based on firm information The wide speculation last week that the Danish government may be changing its policy toward online gambling (see previous InfoPowa reports) has to some extent been confirmed this week by many media reports that regulation and licensing is now being seriously considered. The Danish minister for taxation, Kristian Jensen, told the Danish national radio that the government was preparing to open up its previously monopolistic system ... Read more
 

POLISH INTEREST IN ONLINE GAMBLING CONFIRMED

POLISH INTEREST IN ONLINE GAMBLING CONFIRMED Business journal reports factors that influenced the move to legalise The Warsaw Business Journal has confirmed last week's news that the Polish government is about to take a more pragmatic and positive view on the regulation of online gambling (see previous InfoPowa report) The Journal confirms that Deputy Finance Minister Jacek Kapica has intimated that the government plans to legalise online gambling by the end of the (2008) year, a radical change in direction from the position ... Read more
 

S.A.G.E. LOSES APPEAL IN PAGCOR CASE

S.A.G.E. LOSES APPEAL IN PAGCOR CASE Cancellation of contract to operate online casinos at the heart of dispute A dispute over the cancellation of a contract for the operation of online casinos by the Internet company Sports and Games Entertainment Corporation (SAGE) saw finality in the Philippines Court of Appeals this week. SAGE had petitioned the court for monetary compensation from the Philippine Amusement and Gaming Corporation (PAGCOR) for cancelling its contract to operate online casinos. In a nine-page decision written by Associate Justice ... Read more
 

UKASH FOR SOUTH AFRICA

UKASH FOR SOUTH AFRICA Innovative payment solution soon available for South Africa's 5 million Internet users South Africa's five million Internet users will soon have access to the innovative Ukash payments system, according to an announcement this week by CEO Mark Chirnside “Ukash is a practical and convenient payment method for those consumers who don’t have cards or have concerns about giving out their financial details online”, said Chirnside this week. “We’re pleased to be making Ukash available from hundreds of conveniently located ... Read more
 

BWIN GETS INTO THE MONEY

BWIN GETS INTO THE MONEY Online gambling group awarded FSA licence The Vienna-listed online gambling group Bwin will be able to offer its own e-money payment solutions following the award of a British Financial Services Authority licence after stringent probity checks. The license requirements are subject to tough regulations: In addition to detailed disclosure of the ownership structure and an extensive review of management, specific equity criteria as well as system and infrastructural requirements must be satisfied. In addition, all internal operational and ... Read more
 

ESSENTIAL READING FOR ONLINE GAMBLING MANAGERS

ESSENTIAL READING FOR ONLINE GAMBLING MANAGERS Straight from the shoulder tips on keeping players happy The importance of retaining good players in these difficult economic and competitive times is self-evident, yet support staff and managers continue to make fundamental errors in how they treat the customers on whom success depends.  Internet message boards still carry way too many tales of sad experiences at the hands of uncaring and less than efficient staff, leading to one player posting a straight-from-the-shoulder assessment this weekend ... Read more
 

UK GAMBLING COMPANIES FAIL TO CONTRIBUTE TO RESPONSIBLE GAMING FUNDING

UK GAMBLING COMPANIES FAIL TO CONTRIBUTE TO RESPONSIBLE GAMING FUNDING Recalcitrant online companies are courting government compulsory levies Despite warnings last year and this that a lack of voluntary contribution could lead to compulsory government levies (see previous InfoPowa reports) many British gambling companies continue to hold back on contributing to funds designed to help problem gamblers. The UK media has picked up the story, claiming that as many as two-thirds of all UK gambling companies have so far failed to contribute. Of ... Read more
 
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