Category Archives: Gambling

Posted on: June 29, 2022, 08:45h.

Last updated on: June 29, 2022, 10:00h.

A financial advisor in Australia who was supposed to be helping a client turn her income into life-saving earnings used it instead to feed his alcohol and gambling lifestyle. Hell go to jail for his crimes, according to The Guardian. But that wont help the client recuperate the AU$363,000 (US$230,000) she lost.

In 2010, Scott Hines was working at the Mildura branch of advisory firm ANZ as a financial advisor when he met the soon-to-be victim. After learning that the unidentified woman had property and an inheritance of AU$1 million (US$687,600), Hines agreed to help.

He laid out a financial plan to help the single mother, who was struggling to care for her disabled daughter. However, Hines had different plans that would ultimately impact the young girl, suffering from cerebral palsy and epilepsy.

Hines took $100,000 (US$68,730) from the victims account and converted it into cash that he could spend at will. Next, he borrowed AU$230,000 (US$158,217) more from her account later that same year. He used this money as a loan to another customer, even charging the individual AU$37,000 (US$25,452) in interest.

ANZ fired Hines in 2012 for serious misconduct following a separate customer incident. However, he continued to run his scam on his client, using her money to pay for his lifestyle and to settle the other case.

He had complete control of her bank accounts by April of that year. Hines convinced the woman to begin using his new financial planning firm, although he told her to keep it secret from ANZ.

He used his debit card at an Australian hardware store chain to open a trade account called Department of Defence. There, he spent more than $10,000. In addition, Hines also stole Centrelink pension money from his victim to go on shopping sprees and cover his debts.

Eventually, the 41-year-old con man took control of all of his victims bank accounts. When the final tally of the theft was revealed, the victim was stunned by the amount she lost.

When the victim realized what was going on, she contacted authorities. Police arrested Hines, who pleaded guilty last year to three counts of financial advantage by deception from 2011 to 2018.

The victim claimed she was emotionally fragile because of the fraud. In addition, she is still out the money, which she will probably never see. Since 2018, Hines, who admitted to having gambling and alcohol problems in court, has been a landscape gardener. This is not the type of job that would allow him to come up with hundreds of thousands of dollars quickly.

As he was running his ruse, Hines tried to give off an appearance of being a Boy Scout. In 2011, he worked with the Australian Air Force Cadets as a volunteer. He was promoted to Commanding Officer at one point, but the scandal brought that to an end. The group demoted him and then discharged him last year.

Judge Trevor Wraight, who presided over Hines sentencing, ruled that the scammers actions were disgusting. He took advantage of two people, one disabled and one vulnerable. As a result, Wraight sentenced him to three years and five months in prison. However, after two years, he can request parole.

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Australian Gambling Boozehound Scams Client Out of $230,000, Heads to Jail - Casino.Org News

It's been a rough year so far for casino and online gambling stocks, but one firm has identified a handful of gambling stocks that investors should consider buying on the dip.

The Analyst: JMP Securities analyst Jordan Bender has initiated coverage of the following five stocks:

Related Link: Final Draft Of Macau Gaming Law: What Investors Need To Know

The Thesis: Bender broke down his bullish stance on iGaming, online sports betting and the Nevada casino market.

U.S. iGaming legislation could be a major catalyst for Rush Street, Bender said.

"As NA online sports betting (OSB) and iGaming markets ramp, we believe gross gaming revenue (GGR) of ~$8.1B in 2021 will reach $39B by 2030E (23% CAGR), $3.9B in Canada (30% CAGR), and >$800M in Colombia/Mexico," he wrote.

Related Link: MGM Resorts Analysts React To Q1 Earnings Beat, LeoVegas Acquisition, Macau Weakness

Bender said Penn's Barstool brand differentiates it from competitors.

"Barstool complements PENNs casino database to create customizable content and product for a younger, more football-focused audience, a similar demographic to the OSB player," he said.

Bender values BetMGM at $15 billion and says MGM is the market leader in iGaming.

"We believe a combination of BetMGMs omni-channel, with 37m database members, along with Entains market-leading technology positions it ahead of the competition," he wrote.

Golden Entertainment is focused primarily on Nevada, but Bender said it is diversified within the state.

"Nevada is one of the healthiest U.S. gaming markets, and despite volatility in the broader macro environment, our recent visit points to no slowdown for the core casino customer or the size of the wallet," he said.

Finally, Bender said DraftKings is a high-growth, vertically integrated online sports betting and daily fantasy sports market leader.

"While we are in [the] early innings of the online gaming sector, we think DKNG can maintain top share in NA online gaming, driven through cross-sell and its superior technology capabilities in SBTech, leading to profitable growth," he said.

Benzinga's Take: There are several different dynamics playing out in the gambling space these days that make stock selection critical. Ongoing lockdowns in China has made Macau an albatross for casino stocks, while Las Vegas has recovered nicely from the pandemic. In addition, online sports betting and iGaming have been tremendous growth sources, but some of the early market leaders are struggling with heavy losses associated with aggressive marketing and advertising spending.

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JMP Analyst Names 5 Gambling Stocks To Buy On The Dip - Benzinga - Benzinga

Casino Guru continues on its mission to create the safest possible environment for casino players globally with the company teaming with Scott Thomas, a TV personality known for his work on The Social PR and Food4Thoughts. Thomas is no stranger to gambling addiction and what it can do to consumers, and he talked about this during the Mancs on the Mic along with his brothers, Ryan and Adam Thomas.

Scott recounted his own struggles with gambling and called it a dark time He told a story where a young man was gambling away his student loans and continuing to borrow money just to keep playing. Picketing the casino until it opened the next day and worst. But speaking during his podcast appearance, Scott quickly realized that he was not alone and received an overwhelming amount of feedback.

This is where Casino Guru decided to join and work with Scott on ensuring that more people can hear his story and be supported in their gambling addiction struggles. The new awareness campaign hosted by the worlds premier database of casinos and Scotts inspiring story is designed to ensure that gambling is safer and better in the next decades. The campaign will appeal to younger adults as well as it is presented in a number of videos.

Casino Guru itself has embarked on several projects that reflect that commitment. The company recently revealed its Global Self-Exclusion Initiative and the Casino Guru Academy, both designed to improve the gambling environment and make it safer, sustainable, and reliable. Casino Guru is also coming out of a place of deep understanding.

Reading content on responsible gambling just doesnt cut it and anyone who wishes to help younger generations must find an alternative. The team-up with Scott comes at an equally important time as 39% of Britons aged between 25 and 34 were said to be gamblers in 2020. Scotts prominence with younger generations and his experience with gambling first-hand makes him a natural ally in trying to address the proliferation of unsafe gambling.

The campaign launched with Scott had a huge pull on social media already, as the influencers Instagram account has close to 1 million followers. Both participants in the campaign hope that it may lead to some good examples and serve as an inspirational story to others who are willing to change their ways or seek adequate help if given a light but firm push. Scott welcomed his participation in the campaign and offered a few words:

Ive teamed up with Casino Guru to try and raise some awareness around this subject because clearly theres a lot of people out there who are still struggling.

He remained optimistic. Even if the campaign helped only one person, he would consider this a success. But through this new campaign, which features a series of videos, the pair are addressing other important issues of the overall gambling experience, such as how to recognize if someone has a gambling problem and how to approach them, and understandably how to gamble responsibly.

Casino Guru public & external relations lead Daniela Kianicov welcomed the opportunity and said that this is a first-of-a-kind campaign with a company operating in the gambling industry using the power of an influencer to communicate the risks of problem gambling to young adults. We are very proud to have the honors, Kianicov added.

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Casino Guru Teams up with Scott Thomas to Raise Awareness for Problem Gambling - GamblingNews.com

The modern variety of online clubs and casinos is fascinating. They provide their visitors with lots of exciting games and profitable loyalty programs such as theSlotClub. Moreover, the developers are constantly working on new trends and technologies in order to make gambling more and more attractive.

So, what is waiting for us in the nearest future? What are the probable unique features of online clubs? Let us discover the most modern technologies and solutions that we are going to enjoy really soon.

Nowadays slots belong to one of the most popular games because of their easiness. However, the disadvantage of this phenomenon is the vast majority of the available options. Their quality can be also very different. Therefore, the newcomers are often confused, because they do not know what to choose and how to do it properly.

The owners of the online clubs have found the solution for this issue. As people always tend to select familiar things, the thematic slots are known to be very popular. The well-known movies, people, or events can be used as a basis for their creation. Of course, the owner must pay for the licensed images, but they provide the profit and attract new clients. So, many clubs have already utilized this brilliant idea.

All the good and reliable online platforms have a wide range of unique slots. Slotbox Online Casino Ireland is working on developing special features and interesting gaming options. The thematic slots are among them.

Another way that developers of the online slot use to enhance the interest in their production is by offering jackpots on a daily basis. Some kinds of slots can guarantee such a payout every day. Generally, at the same time a running total is used and a timer that shows how soon the winning will occur.

Of course, such jackpots are usually not very big, but the payout frequency is increased. This fact improves the chances of winning and also attracts more and more people to the online platform.

Different live games are welcomed by clients and the developers pay them a lot of attention. This trend appeared in 2020 when the pandemic restrictions made us all stay at home. Still, many gamers missed the communication, and here live poker and blackjack rescued the situation.

Nowadays live slot games are the next step in this direction. That is the thing for which so many gamers were looking for. And its reality at last becomes obvious.

The live game immerses the client into the almost real world of gaming. It provides all the senses, sounds and emotions and makes the gambling process very exciting.

As a logical continuation of the previous issue, we can name the total live versions of the land-based casino Ireland. If twenty years ago digital games seemed to be the perfect solution for online clubs, today that is not enough.

Live clubs provide the opportunity to speak to the live dealer, ask for advice or for useful tips during the game, check the rules in real time mode, or just chat with someone. That is a great advantage for many gamers who are in deep love with land-based casinos. Thanks to the modern fast Internet speed and advanced video technologies, instant communication becomes possible. So, the client is fully immersed in the atmosphere and can feel himself or herself sitting near the real table and enjoying the game with the same emotions as in real life.

Live casinos were the first step towards the new reality of moving from land-based organizations. Due to the appearance of VR gambling the online world was brought to life. Such clubs are helping the visitor to stay in the center of the game and be a part of it.

The developers of the software digitally recreate the land-based clubs and allow the gamer to walk between the tables and even interact with other people. That is the totally new world in gaming and still, the client stays at home, but his or her feeling is quite as in the reality.

This modern tool is still not widespread, but we are sure that many owners of online clubs are now thinking about this possibility. For sure, virtual reality is going to attract more and more people to gaming via the World Wide Web.

Do not forget, that many people use mobile phones or other gadgets to access online clubs or to install and play different gambling apps. Nowadays their percentage reaches the point of 80% from all the users.

This rise in popularity was driven by the faster speed of browsing and modern swift processors. Therefore, the providers of online clubs are making their games mobile-friendly. This is the future of gaming because such an approach makes online gambling even more comfortable. The gamer can have access to the favorite game from anyplace anytime, make deposits and payments via the smartphone, and enjoy the platform as a mobile version.

Together with the popularity of online gambling the popularity of video games is rising too. No wonder, that their elements are used by the developers of the casino industry. The so-called gamified club has:

For example, the Slotbox is actively using this kind of mainstream entertainment. We have created our unique loyalty program Sloctlcub. Every visitor who has made the first deposit and started to play effectively has already joined this club. After each bet, the clients get points and coins to the account.

Points are needed to reach the next level. After leveling up the special reward is waiting for you. As for the coins they can be exchanged on the website for other useful bonuses including free spins and cash.

Moreover, inside this system, we offer a variety of rewards depending on the level of the client and some bonuses for special occasions. Thus, we would like to make the gaming process profitable and exciting and do our best in order to achieve this aim.

Cryptocurrency has been recently used in many other industries, but at first, it was not considered as a tool that can be used in the entertainment area. The reason was the very tech-savvy people who understand how to utilize it. However, modern clubs are often created as crypto casinos and many visitors appreciate them and are interested in this new type of gaming platform.

Cryptocurrency guarantees safety and anonymity, making its usage the ideal tool for gambling operations. Therefore, many online platforms have been recently started their utilization and are totally satisfied with the obtained results.

Of course, different forecasts cannot be true with a 100% guarantee. However, all the above-mentioned trends are developing now and are going to become our reality in the nearest future. When we look at what is possible nowadays due to modern technologies and combine it with the demands of the users, anything that makes online clubs more accessible seems to be the source of great success. Do not hesitate to enjoy all the preferences of online gambling, but always pay attention to the security of your funds and personal data. Carefully read the terms and conditions of the chosen club and enjoy your favorite games while staying at home.

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Online casinos trends in Ireland: the future of gambling - Cryptopolitan

WAITING nervously for the clock to tick past midnight, Stacey Goodwin needs just one more minute to pass so she can get her latest gambling fix.

As soon as her salary hits her bank account she transfers it into her online gambling account and starts on the slot machines.

1

Flash back to 2011, and the 18-year-old had just taken her first job in a bookies to earn some part-time cash.

Surrounded by people betting their money, she decided to have a go on a slot machine one day, and from then on was "hooked".

Stacey spent the next eight years battling her gambling addiction, losing hundreds of thousands of pounds, friends and partners and jobs in the process.

The gambling started in bookies, but as Stacey's addiction grew, she turned to online gambling.

It became too much in 2017, when she lost 50,000 and tried to take her own life twice.

It was because she had reached a point of "absolute despair", Stacey said was prepared to end her own life.

"I had zero hope that anything would get any better.

"Gambling was all I had known, so I honestly didn't think there was a life outside of it.

"But there was also shame, unbearable shame.

"I was hurting other people and I genuinely thought they would be better off without me.

"The hardest part was that nobody knew. It upsets them to know how I masked it.

"Thats the scary thing - that I laid in that bath not expecting to get out and nobody had any idea.

"My friend sent me texts the other day that I sent during my addiction and she was crying, she didnt know how bad it was."

After her two suicide attempts, Stacey said she reached a point where she would either "go to prison, or go to rehab," and decided to get help.

She added: "Luckily for me I found Gordon Moody, the gambling addiction charity, and went onto their retreat programme.

"There was a room full of other women and I felt relieved that this was the first time I had seen people who had been through the same.

"And there were people who could understand.

Now Stacey, 29, and living in Chesterfield, Derbyshire, is three years clear of her addiction and working as an associate for charity The EPIC Restart Foundation.

She has helped over 1,000 women struggling with their gambling addictions through social media by talking through their issues.

She also published a book: 'The Girl Gambler: A young woman's story of her escape from gambling addiction' last April on her battle with gambling addiction, which has five star ratings on Amazon.

Despite her life turnaround, Stacey said still struggled to feel proud of herself.

"I still struggle to feel those things.

"But the thing Im most proud of is showing others theres hope.

"I think thats what I needed more than anything in the world was hope.

"I remember thinking to myself, 'why did I go through all this?' and I genuinely believe its because its now people can say to me, 'I have a problem with gambling' and know that theres help out there.

Stacey's story comes ahead of new rules, which come in in September, to help protect those with addictions.

Gambling firms will have to follow guidance, from the Gambling Commission, that helps them spot customers who may be struggling.

The rules include flagging when someone shows signs of addiction, and preventing from marketing at people who may be at risk.

Analysis released earlier this year by GambleAware revealed almost 40% of women experiencing high levels of gambling harm may not seek out help due to stigma or shame.

It came alongside data showing one million women in Great Britain were at risk of gambling harms.

In response to the statistics, the charity launched a harms prevention campaign specifically aimed at women to shed light on the critical warning signs for them and show them where to get support.

And government ministers look set to publish a review of the 17-year-old gambling legislation due to concerns over the surge in popularity of online gambling, The Times reports.

The curbs will include maximum stakes of between 2 and 5 for online casinos and a ban on free bets and VIP packages for those who suffer heavy losses.

There are a number of steps you can take if you believe someone you know is struggling with a gambling addiction.

Be Gamble Aware's website suggests a number of steps you can take to help someone who might need help.

Some of the steps include: understanding what an addict is going through, knowing how to talk to someone with a gambling addiction, and avoiding rewarding gambling behaviour.

If you personally are struggling with an addiction, the NHS has a useful webpage which offers a range of helpful tips.

Some include trying cognitive behavioural therapy (CBT), a talking therapy that can help change the way you think and behave.

There are also treatment and support groups available for people wanting to stop gambling.

GamCareoffers free information, support and counselling for problem gamblers in the UK.

It runs the National Gambling Helpline (0808 8020 133) and also offers face-to-face counselling.

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Im an ex-gambling addict I lost hundreds of thousands of pounds and thought I might die... - The Sun

Tuesday 28 June 2022 12:23 pm

A ban on free bets would push almost a third of punters to the black market while sucking millions out of horse racing, new data released today suggests.

Anti-gambling campaigners have demanded the Government introduce a complete ban of punter promotions in its upcoming reforms of the Gambling Act despite a staggering 69 per cent of customers saying they should be allowed.

New research conducted by YouGov on behalf of the Betting and Gaming Council found as well as 69 per cent of punters saying free bets should be allowed, 63 per cent said they found promotions a valuable part of their hobby.

Almost one in three punters (28 per cent) said they would consider black market betting if ministers ignored popularity and forced through draconian bans.

As well as driving punters away from the regulated industry, analysis conducted by the BGC found the move would hit the horse racing Levy for approximately 5m a year, in a double blow on the industry.

Punters must request promotional offers when opening an account with a regulated betting and gaming operator in the UK and can stop receiving them at any point they choose.

Black Market gambling has more than doubled in just two years, from 220,000 users to 460,000.

Banning free bets is the latest proposal suggested by the anti-gambling lobby that could hit horse racing revenues after blanket affordability checks.

These means tests, which would compel punters to produce personal financial records like bank statements before they are allowed to bet as little as 100 a month, could suck up to 100m a year out of horse racing, according to industry experts.

In total, the regulated betting and gaming industry contributes around 350m annually to horse racing in the UK through the levy, media rights and sponsorship. This funding was vital during the pandemic.

But there are growing concerns new measures being considered by the Government could jeopardise this vital funding

Chief Executive of the Betting and Gaming Council, Michael Dugher, said:Promotions and offers are part of the customer experience for any vibrant industry, including our intensely competitive sector, which supports 119,000 jobs and brings in 4.4bn in taxes to the Treasury.

Blanket bans on offers would be anti-punter and would severely degrade that customer experience, punishing the overwhelming majority of punters who bet safely. Problem gambling is 0.2 per cent. Imagine the outcry if supermarkets were forced to ban offers and promotions for beer and wine? We see no difference to our industry.

While Dugher said he supported the governments evidence-led approach to gambling reform, he said ministers should shouldnt be sticking their nose into how people choose to spend their own money.

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Gambling reform: Free bets ban could push a third of Brits to the black market - City A.M.

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We wanted the RGC to explore how gambling relates to other online activities, helping Playtech to improve how we support digital and mental wellbeing, as well as safer gambling.The Responsible Gambling Council (RGC) would like to see the online gambling industry have a shared sense and culture of responsibility, where both staff and player initiatives reflect player well-being, a recent whitepaper reveals.

The RGC is a non-profit organization that specializes in safeguarding in the gambling industry to promote the health of people and communities who might be affected by problem gambling. The RGC is based in Canada, but works globally throughout the industry.

The RGC report, Gambling Digital Tools Across The Player Spectrum, is an in-depth review of how responsible gambling tools are used throughout the online gambling industry.

It also includes recommendations on what the industry could do to shore up RG offerings. One key highlight: Online gambling operators should link staff and player initiatives to the uptake of responsible gambling efforts.

The report also highlights the ecosystem of digital gambling tools, reviews case studies of practical tools, discusses barriers of entry and areas of improvement, and outlines ways to improve responsible gambling efforts throughout the industry.

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The Responsible Gambling Council Wants a "Culture of Responsibility" in the Online Gambling Industry - Pokerfuse

Malc Dugdale says...

I do agree that having sponsorships from major gambling service providers isnt ideal, and I do think it should be phased out.

When I was a kid (a very long time ago, admittedly) sports such as Formula One were sponsored by the likes of Rothmans and John Player- famous cigarette brands of the time. The theory that led to their demise as sponsorship suitors is the same as the reasons the likes of Betdaq and Tombola should not have been on Sunderland shirts in the recent past, in my view.

We cannot be putting the names of questionable companies in places that can influence young and easily-led kids.

In addition, those who have issues with gambling certainly dont need reminding of the availability of it online 24/7 by seeing famous names from the industry plastered across the first team shirts of many teams featured on Match of the Day, EFL on Quest, or even live at games.

My only challenge to this position is: where do you stop?

I would use the same argument to suggest fast food providers (and the related convenient delivery companies) arent a great idea, due to obesity impacting the NHS, and the same goes for alcohol brands and confectionery companies.

One of the first brands I recall seeing in a shirt was the Crown Paints logo on the Liverpool shirt from the early to mid-1980s, and I cant see an issue with brands like that, but Im sure someone can.

Maybe this is yet another thing that the league needs to revisit and put some new rules around, but they cant even get the footballing basics right in places, so Im not holding my breath.

As a recovering gambling addict, I have a strong feeling about this: gambling companies should not be allowed anywhere near football memorabilia.

Quite a few years ago, the Football Association made the decision to ban tobacco companies from advertising, but believe me, gambling is a far worse problem.

Gamblers dont get vapes, gum or patches to help them quit. It is solely reliant on willpower not to walk into a shop and place a bet.

The industry is absolutely rife in football, and I cant watch a game on TV without several adverts popping up during half time. Does that set an urge off? You bet it does. Its an addiction that I have to live with every day. Ive seen what this addiction has done to people and done to me, and Id rather not be reminded of it when I go to a football match or watch it on TV.

I have absolutely no issues with people wanting to place a bet on football or any sport. It is fun when in control, but it is easy to lose that control and lose a lot of money.

No company that sponsors a potentially harmful product should sponsor football. I totally get Malcs point about fast food companies, and I really do think that the leagues and the FA need to look at the whole thing, and make decisions on exactly what they want to promote and via which brands.

For me, though, gambling companies should be nowhere near.

In many ways, I stand as Ant stands.

I turned to gambling a long time ago as a coping mechanism, and like most coping mechanisms, it starts out as a bit of fun/a laugh/nee bother really, but in hindsight, thats just an excuse.

Ive sought no professional guidance on the matter, but I eventually acknowledged that I had a problem when I emptied a bank account while attempting to chase my losses- something that happens all too often with people like me.

Im not intending to be preachy about it, either. If you have enough disposable income to do it and you have actual control over it, you can do what you please, and dont let my personal issues stand in your way.

We even flirted with it ourselves with an association with BETDAQ that, on reflection, disgusted all of us. I still feel dirty thinking about it, and no great profit was made from that association (which again is no excuse), but you live and learn - particularly as you watch the lives of your friends and loved ones fall apart around you.

However, theres a difference between accepting that something can genuinely be a fun pastime and ignoring the incredible damage that it has done to many in society who havent been fortunate enough to pull themselves away from what can be an incredibly slippery slope.

Gambling disproportionately impacts poorer communities, and why wouldnt it?

While it may offer nothing but the occasional flutter for many, it may offer both an escape from reality and the promise of no more worries about the dire financial situation you may be in, simply by pressing a button.

The entire industry- including all the games it runs and all the advertising it runs, is very intentionally marketed towards those with a weakness, and that weakness is a lack of wealth. A lack, despite your best attempts, of being able to stop worrying about a lot of lifes stresses.

Its presence at all football matches and sporting events, its meagre attempts at promoting itself as an ally of gambling addicts, and its relentlessly careless exposure to children...well, its like the BBC producers old approach to Jimmy Savile: you know theres something very disturbing about it all, but everyone else is ignoring it, so whats the use in saying anything? Just let Jim fix it for everyone and deal with the aftermath later.

In short, like Jimmy, its not something that anyone under the age of 18 should be exposed to.

For that reason, and a great many others that I wont go into, it shouldnt be present on the shirts of our greatest sporting institutions, and those in charge of such matters would do well to consider the long-term impact on their respective fans and families, and find something else to fund them in the short-term that isnt just money soaked in the blood of the many dead the industry has left in its wake.

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Roker Roundtable: Should gambling companies be prohibited from appearing on club shirts? - Roker Report

Posted on: June 22, 2022, 07:32h.

Last updated on: June 22, 2022, 07:32h.

Last month, online gaming operator Betway added Playtech to its Betway Casino portfolio. As a result, players gained access to live dealer gaming options, which will prove especially beneficial for Argentina.

The online gambling industry is one of the new additions to Argentinas economy. Since the beginning of the COVID-19 pandemic, most provinces, as well as the City of Buenos Aires, have drafted legislation to regulate the service. As a result, the country became an instant target for international operators.

Among them is Betway, which obtained its license to operate in the city of Buenos Aires last year. Since then, it has established itself as a leading operator. Now, as it features live games from Playtech, its likely the countrys online gaming segment will gain more ground, more rapidly.

With this addition to the catalog, Betway is serving, in a way, as a catalyst for innovation in Argentinas online gambling ecosystem. Through the inclusion of live dealer options, other operators have to respond in kind in order to remain competitive.

Betway, part of Super Group, has a large global footprint. Its headquarters are in Malta, but it maintains offices in London and the Isle of Man, as well as other locations. In addition to the UK and Malta, Betway holds European online gaming licenses in Spain, Sweden, Denmark, Italy, Belgium and Ireland.

In Argentina, it operates mainly thanks to the license issued by Lotteries of Buenos Aires (LOTBA, for its Spanish acronym). This certification began last year, when the Buenos Aires legislature approved the online gambling law. Since then, Betway and others operate under a formal framework in the country.

This implies a strong tax revenue for the state, as gambling companies have one of the highest tax rates in the economy. Theyre about to increase, as well, after Argentina recently announced new taxes for the industry.

Betway accounted for over half of Super Groups revenues in the first quarter of the year. Its revenue increased by 20.0% year on year to $187 million.

The Latin American gaming market has a lot of catching up to do. Geographically, North America was Super Groups largest market. It brought in $150.5 million, up 1.4%. Asia and the Pacific were next with $79.2 million. This is a 16.6% rise, with $55.3 million coming from Betway.

Africa and the Middle East revenues increased 54.3% to $65.1 million, while Europe revenue fell 29.7% to $32.7 million. These totals came almost entirely from Betway.

Latin American revenue increased 7.8% to $6.9 million; Betway brought in $3.3 million of that total. In addition, online casino activity generated $204.5 million in product sales, 2.9% more than the first quarter.

Betway brought in an additional $109.5 million from sports betting, up by 30.4%. It also earned an additional $19.9 million from licensing its brand and $597,000 in other income.

Super Group also had to incur significant non-operating expenses when going public. These included $126.3 million in share listing costs, $29.4 million change in fair valuation of warrant liabilities and $24.4 million change in fair valuation of earnout payouts.

Betway just teamed up with Pragmatic Play, its latest partner, to add live content and slot machines. Over time, this will help strengthen its operations in Argentina, and perhaps all of Latin America, as the region continues to expand its online gambling footprint.

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Betway Casino Partnership with Playtech to Propel Argentina's Online Gambling Segment - Casino.Org News

The new Virginia state budget, which will go into effect on July 1, closes a loophole that allowed sports betting operators to avoid paying millions of dollars in taxes over the first year and a half of legal wagering in the state.

The issue was raised in a front-page story in The Times-Dispatch on May 2, which showed that sports betting companies were allowed to deduct certain promotional expenses from their pre-tax revenues. Among those expenses are "free bets" offered to players to entice them to sign up or continue gambling.

Those freebies ultimately negated as much as 43.7% of the revenue Virginias government could tax, or a potential $26.7 million in collected tax revenue.

As a result, of the 12 companies currently taking sports bets in the state, only five have paid any taxes since launching.

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Del. Mark Sickles, D-Fairfax, was an early champion of eliminating the tax break, and was ultimately able to get it written into the new state budget.

The revised legislation allows companies to deduce promotional incentives for the first 12 months in the market, but after that requires all such revenues to be reported and taxed.

The four largest betting companies in Virginia FanDuel, DraftKings, BetMGM and Caesars have all been live for more than a year.

Meanwhile, Virginia's sports betting market continues to be robust. The Virginia Lottery, which regulates companies offering legal betting, is expected to report next week that the state has now taken $5 billion in sports wagers.

The most recently available data showed just how much of an impact closing the loophole will have.

Virginia has taken $4.98 billion in sports bets, with the operators "holding," or winning, 8.5% of that money.

That has led to the state collecting $29.8 million in tax revenue over that time.

Tennessee has taken $4.405 billion in sports bets, with the operators holding 8.6% of that money.

That has led to the state collecting $62.8 million in tax revenue over that time.

The original logic was that allowing promotional expenses to be written off would help build up the betting market faster. However, other states, including New York, have launched to eye-popping numbers without allowing the write-off.

According to a February study by the Tax Foundation, of the 30 states with legalized sports betting, eight currently offer companies the ability to write off promotional expenses a number that is about to decrease by one.

In a less-consequential sports betting decision during this year's General Assembly, providers are no longer allowed to use the term "Virginia is for Bettors" in their marketing materials.

The phrase plays off of the "Virginia is for Lovers" marketing slogan. The bill was passed by the General Assembly and signed by Gov. Glenn Youngkin.

Another bill proposed legalizing wagers on state college sports teams, but that was defeated in the General Assembly, meaning wagering on VCU basketball or Virginia Tech football remains illegal in the state for at least another year.

The cost to attend an NFL game is the most expensive among the major four sports leagues with an average cost of $157.07. The cheapest NFL team to watch live is the Cincinnati Bengals with an average cost of $105.69. Here are the five most expensive.

The Las Vegas Raiders moved into Allegiant Stadium prior to the 2020-21 season. Among NFL teams, the Raiders have the most expensive general admission ticket ($153.47), most expensive beer ($13) and most expensive hot dogs ($7.50).

Levi's Stadium opened in 2014. To attend a San Francisco 49ers game is the second-most expensive among NFL teams and third-most expensive among all four major sports leagues.

The parking at AT&T Stadium is the most expensive of all the four major sports leagues. It costs more for parking at a Dallas Cowboys game ($75) than attending a Los Angeles Dodgers game ($70.66).

The Los Angeles Rams moved into SoFi Stadium prior to the 2020-21 season. The Rams sell the most expensive hot dogs among NFL teams with an average price of $7.50.

The Green Bay Packers are the only franchise owned by stockholders. The average price for a Green Bay Packers fan to attend a game at Lambeau Field with two beers, a hot dog and parking is $192.93.

The average cost to attend an MLB game with two beers, a hot dog and parking is $67.39, which is the cheapest of the major four sports leagues.

Watching the Chicago Cubs comes at a hefty price. Wrigley Field is the most expensive MLB game for fans to attend with an average price of $109.78.

Among all the MLB teams, the Boston Red Sox have the priciest general admission ticket. The average ticket price at Fenway Park is $60.09.

At $29, the parking at Yankees Stadium is the most expensive of all MLB stadiums.

The most expensive hot dog of all MLB stadiums can be found at a Washington Nationals home game. Hot dogs cost fans $7.25 at Nationals games.

The average price for Houston Astros fans to attend a game at Minute Maid Park with two beers, a hot dog and parking is $89.83.

The NBA is the second-most expensive league in terms of attending a game with an average cost of $120.13.

An average New York Knicks game at Madison Square Garden will cost fans $260.38, the most expensive of all of the four major sports leagues. Among NBA teams, the Knicks have the most expensive general admission tickets ($180.78), most expensive parking ($45) and most expensive hot dog ($8.50).

The Golden State Warriors moved into Chase Center before the 2019-20 season and became the second-most expensive NBA game to attend with an average cost of $230.30. The Warriors sell the most expensive hot dogs in the NBA with an average cost of $8.50.

It's no surprise that attending a Los Angeles Lakers game is expensive. The average cost for Lakers fans to attend a game at Staple Center with two beers, a hot dog and parking is $190.76.

The TD Garden has been the home of the Boston Celtics since 1995. The average price for a Boston Celtics fan to attend a game at TD Garden with two beers, a hot dog and parking is $167.16.

Even though the Chicago Bulls missed the playoffs with a 22-43 record during the 2019-20 season, the United Center was still the fifth-most expensive NBA stadium to attend a game with an average cost of $154.01.

While it's not as cheap as the average price to attend an MLB game, an NHL game is still reasonable compared to an NFL or NBA game. The average cost for a NHL game with two beers, a hot dog and parking is $114.47.

Even though an average New York Rangers game at Madison Square Garden isn't as expensive as a New York Knicks game, it's still the most expensive game to attend in the NHL with an average cost of $182.43. The Rangers also sell the most expensive beer in the league, which will set a fan back $15.

The parking at TD Garden for a Boston Bruins game will cost an average of $29, the most expensive among NHL teams.Including a ticket, two beers, a hot dog and the parking, a Bruins game will cost an average of $162.36.

The Toronto Maple Leafs are the most popular hockey team in Canada, and the ticket prices prove it. Scotiabank Arena offers the most expensive general admissions ticket in the NHL with an average ticket costing $128.69.

Even though the Chicago Blackhawks finished last in the Central Division during the 2019-20 season, the United Center still sets a fan back $153.63 to attend an NHL game.

The newest addition to the NHL is the Las Vegas Golden Knights and T-Mobile Arena where the average price to attend a game is $153.36. The Golden Knights are home to the most expensive hot dog in the NHL, which will cost a fan $7.

mphillips@timesdispatch.com

(804) 649-6546

Twitter: @michaelpRTD

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