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Welcome to Bet Sages Gambling News Section, featuring the latest breaking
gambling industry news courtesy of InfoPowa News. This is your one stop source for
all and any of the latest developments concerning leisure based wagering
activities on the internet.
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| 12 AUGUST 2006 : HEADLINES |
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Three man committee considered report from an independent investigating team
The Jackpot Factory group search engine optimisation campaign which backfired so badly for the formerly reputable online casino group (see previous InfoPowa reports) was front-and-centre again this week with the release of a compliance committee's findings.
Chaired by Bill Galston OBE, a former high ranking UK gambling industry enforcement and inspection official, the compliance committee was convened by eCommerce and Online Gaming Regulation and Assurance (eCOGRA). The other two members of the committee were noted American gambling law expert Frank Catania and Michael Hirst OBE, a former senior executive with the Hilton group.
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Increased monitoring, new checking systems....and a major donation of $25 000 to Gamcare
The management at Jackpot Factory group has drawn a line under the disastrous search engine optimisation debacle that generated major player outrage in recent months (see previous InfoPowa bulletins)
Following an on-site investigation ordered by the player protection and online gambling standards body eCommerce and Online Gaming Regulation and Assurance (eCOGRA) Jackpot Factory was the subject of a compliance committee hearing over an outsourced search engine optimisation program that targeted vulnerable audiences. The group's internal checking mechanisms failed and have been replaced with new systems ordered by the eCOGRA audit to avoid any repetition, and the offending material has been taken down.
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Second quarter numbers show improvements in company performance
Announcing the second quarter results this week, World Poker Tour CEO Steve Lipscomb said that the company was pleased with the results, which show a 67 percent increase in revenues over the same period last year.
Revenues for the second quarter of 2006 came in at $11 million, which was a 67 percent increase from the second quarter 2005 ($6.6 million). Net earnings for the quarter were $2.6 million, or 12c per fully diluted share, in comparison to a net loss of $0.4 million, during the same period last year.
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Congressman wants to study regulation of online gambling sites
Reports last month (see InfoPowa bulletins) that Representative Jon Porter of Nevada intends to visit the Isle of Man soon were confirmed by the politician this week, according to the Las Vegas Review-Journal.
The two-term congressman said he intends to visit the Isle of Man to learn more about how the self-governing kingdom regulates Internet gambling, but will wait until the Senate decides whether to act on an Internet gambling ban approved by the House last month.
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Senate leader has online gambling Bills on his list for September resumption, but time is running out
The bills that seek to cripple and ban the online gambling industry in the United States remained unheard as the Senate adjourned for the 4 week autumn break last Friday.
To become law, Bill HR 4411 has to pass a Senate debate and vote, and be signed into law by the President before the current Congressional season ends.
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No help for ex-CEO as family tries to raise million dollar bail
The Times reports that three weeks on from his arrest whilst transitting the USA, David Carruthers remains in jail whilst his family and friends try to raise the million dollar bail set by US authorities, and find a "permanent address" for him in St. Louis until his case can he heard.
The former chief executive of BetOnSports is accused of racketeering and fraud, and will be forced to stay in a cramped county jail cell until at least the end of this week, as his lawyers and family struggle to raise $1 million bail and have yet to find somewhere suitable for him to live upon his release, the report reveals.
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Employees claim they have been told they will be let go
The BetonSports crisis took another downward turn this week when unofficial reports from employees and an off the record comment from a Costa Rican official of the company suggested that the Costa Rican operations are to close down today (Friday) If true, the reports confirm earlier stories emanating from Costa Rica that the company was selling off its car fleet.
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Growing impatience as players ask, "When do we get our money back?"
With the BetonSports debacle seemingly going from bad to worse, American gamblers who made deposits through the companys telephone and online facilities are growing increasingly impatient at the lack of information on when they will get their deposits back from a management that appears to be mesmerised by the abrupt reversal of fortunes the company has suffered as a result of US legal action.
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Many big names out of the running for poker's biggest prize
The main event in the World Series of Poker continued to ace out big names as the field was narrowed down over the weekend.
By Saturday night there were only 135 players left, and by Sunday night that was down to the last 45 with famous players like last year's champion Joseph Hachem, Daniel Negreanu, Josh Arieh and Phil Ivey all busted out.
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Chip leader Jamie Gold is well named....
Monday's short session at the World Series of Poker Main Event has brought the competitive field down to the last 27, with big money assured for everyone still battling toward the ultimate first prize of $12 million.
Monday's players were well compensated. The first player out in the 45th position when play resumed, Jim Routos collected a farewell prize of $247 399, as did those down to position 37. Positions 36 through 28 earned even more at $329 865 each, and the 27 through 19 who go out after play starts again Tuesday will each approach the half million mark at $494 797. By the time the last 12 players to survive has been reached the individual pay cheques stand at $1.15 million.
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Goldberg goes out in tenth position
The stage was set in the early hours of Wednesday morning Vegas time for the thrilling climax to the World Series of Poker main event - naming the surviving nine players for the final table.
At 2.17 in the morning, Fred Goldberg went out in position 10, deciding the composition of the grand finale. Goldberg lost his crack at the $12 million top prize, but nevertheless went home with a cheque for $1 154 527 in his pocket after he moved all-in from the cut-off for $2.8 million. Richard Lee called in the small blind, showing KK. Goldberg shows Q3. The board comes 977J8 and it was goodbye to Goldberg.
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Million dollar bets, huge chip counts and aggressive play from Gold
The predictions that this year's WSOP main event final table would be a humdinger were right on target; from the beginning on Thursday just after 2pm Vegas time there was aggressive play, especially from chip leader Jamie Gold who dominated the game with a major advantage in chips. Gold has taken out 5 of the final table eliminations so far.
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"....it's really listening to what the players have to say. It's really finding out what's important to them."
This week IGN published an interesting insight into what is planned to be the biggest global online gambling player survey yet attempted.
The player protection and industry standards body eCommerce and Online Gaming Regulation and Assurance (eCOGRA) has commissioned experts from both the USA and the UK to carry out the survey, which will access the opinions of some 20 000 players in major markets across the world over a period of some two months.
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Artificial Intelligence competition featured Texas Hold 'Em
The world poker [robot] championship (see previous InfoPowa reports) organised by the American Association of Artificial Intelligence in Boston has been won by the University of Alberta.
Competing bots battled it out in a contest that included a two-tournament arrangement of one-on-one Texas Hold'em. The bot best able to take money from the average player was part of a bankroll competition, and there was a section that adjudged the best program for getting the edge on more experienced and expert player levels.
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Ball now in the World Trade Organisation's court
It's official - the Antiguans and the US trade negotiating team are unable to settle their differences on Internet gambling and have broken off talks.
A U.S. trade official confirmed the news this week, ending any hopes that there would be an amicable solution to the dispute over whether or not U.S. Internet gambling laws violated trade agreements.
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Enough evidence to justify a trial, says judge
The murder by stabbing of popular online gambling executive Adam Anhang last year had a sequel in a Puerto Rico preliminary hearing court this week, when the judge ruled that there was sufficient evidence available to put a 23 year old dishwasher on trial for the crime.
Anhang, a Canadian national, real estate entrepreneur and head of the Casino Web Cam group was beaten and stabbed to death in front of witnesses in a tourist district of the Puerto Rican capital San Juan.
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$9 stake for a $902 505 win - that's return on investment!
Oregon roofing contractor Matt Eilenberger (35) may be used to heights, but none as thrilling as nailing a $902 505 return from a gambling stake of only $9!
The lucky roofer hit the Party Mega Jackpot at Party Casino.com this week, and now the fortunate father of three is planning to raise the roof in celebration and buy himself a new address.
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Playtech takes over from Chartwell Tech
The London listed betting group UK Betting is changing software platforms it was announced this week. Playtech will take over from former provider Chartwell Technology.
Playtech spokesmen said that the provider, itself listed on the London exchange, has signed a contract with UK Betting to migrate its casino brands to the Playtech software platform. UK Betting and Totalbet, both of which are focused on the UK and European markets, will be fully integrated on the Playtech platform through its proprietary games and backend system.
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Poker still offers the best online growth prospects
If you're wondering how recent measures aimed at cracking down on online gambling and gaming in the US will affect the online sports and gambling industry in general, the answer will probably be found in a new report from the Irish company Research and Markets.com.
Titled "The Global Business of Poker" the report is written by Rachael Church and provides an extensive market overview of the fast-moving multibillion dollar poker industry.
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BlueMoon representatives appeared in court and voluntarily dismissed the case 'with prejudice'
A lawsuit filed in the Los Angeles Superior Court against Bodog Entertainment Group (see previous InfoPowa bulletins) and related parties by BlueMoon Entertainment of L.A. was dismissed this week.
BlueMoon also dropped its lawsuit against Fox Sports Net (FSN). The lawsuit against both Bodog Entertainment Group (and related defendants) and Fox Sports Net was dismissed with prejudice, meaning that BlueMoon cannot later re-assert its claims.
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Austrian gambling group's German license pulled - Bwin accuses authorities of perpetuating a monopoly
Bwin, the new brand for Austrian public company Bet and Win ran into trouble with the German authorities this week. Exacerbating share price problems caused by an earlier profit warning, the state government of Saxony issued a ban on the group's operations.
Associated Press reports that the gambling group, one of the biggest in Europe could be prejudiced to the tune of millions of Euros in lost business and equity losses and has threatened legal action over the license removal.
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Major League Baseball to appeal federal ruling
A US federal court ruling that online fantasy baseball businesses can use names and statistics without paying for a licensing agreement has fired up Major League Baseball in the USA, spurring the body to appeal the case.
MLB and its players' union expect to win back the right to demand money from fantasy sites like St. Louis-based CBC Distribution and Marketing Inc., which prevailed in its lawsuit in a federal court's summary judgment issued this week.
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Buy these shares now, says Demon Doug
Online gambling turnkey provider Cryptologic was given a welcome boost this week when the widely read publication "The Motley Fool" featured as its "Post of the Day" a contribution that lauded Cryptologic and decried US attempts to kill off online gambling.
In a post by "Demon Doug" the publication pointed out that CRYP is presently undervalued: "It is a buy. I'm hoping the price stays deflated for a bit more so I can pick some more up around the 20 level. Why am I so bullish? Let me explain:
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St Minver will have access to games suite including nine new games for launch this year
Gibraltar-based St Minver, a public company that provides white label online gambling facilities has entered a partnership with the UK games developer Orbis for access to its gambling suite, including 9 new games scheduled for release by the end of 2006.
Orbis, an NDS group company and the provider of the OpenBet interactive gambling platform, will provide St Minver with games content to deliver through its European gaming network.
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Sponsorship for Sharon Osbourne TV show
The UK's online gambling giant Gala Coral's bingo division is to sponsor ITVs new talk show Mrs Osbourne Presents hosted by TV personality and current X-Factor panelist Sharon Osbourne, according to an announcement this week.
The GBP 2 million deal showcases the Gala Bingo brand on 40 episodes of ITVs new flagship chat show through branded trailers, interactive features, online tie-ins and mobile interactive sponsorship bumpers.
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Canadian provider will supply low-stakes games for Irish gambling group's online operations
Parlay Entertainment Inc. and Paddy Power plc, Ireland's largest betting and gaming company actioned an agreement this week which required the Canadian provider to add Parlay Bingo to Paddy Power's roster of online games.
Paddy Power Bingo has launched in co-operation with Parlay and turnkey operator, The Gaming Network. The game can be accessed through PaddyPower.com, or by going directly to PaddyPowerBingo.com.
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Fair Gaming Advocate dealt with 265 complaints
The Fair Gaming Advocate in the London offices of eCommerce and Online Gaming Regulation and Assurance (eCOGRA) reported this week on complaints received by the non-profit player protection body during the first six months of 2006.
Tex Rees says a total of 265 submissions were made to eCOGRA's online facility, of which 83 (31 percent) concerned online casinos and pokerooms that are not accredited to eCOGRA and are therefore outside the FGA's authority. A further 35 submissions (14 percent) were non-specific rants and statements that could not be followed up.
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Leading online gaming personalities will speak out at Barcelona conference and expo
One offline event that is a must attend is how Mitch Garber, CEO of PartyGaming described EiG 2006 this week. The fifth annual European i-Gaming Congress & Expo, taking place at the CCIB in Barcelona, Spain over 11-13 October, is set to be one of the most incisive and influential talking shops to date, with organisers Clarion ATE unveiling a host of senior executives drawn from the worlds leading operators and suppliers amongst its long list of speakers.
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| PREVIOUS NEWS ARTICLES... |
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| 17th June 2006
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| 24th June 2006
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| 1st July 2006
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| 11th July 2006
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| 23rd July 2006
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| 27th July 2006
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| 6th August 2006
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