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UK allows gambling companies to advertise on TV and Google jumps on board to allow online casinos and bingo to advertise on their UK domain. It's a wise financial decision and Google knows it. In an about turn on their own policies regarding online gambling, Google now allows commercials by online casinos and bingo operators on their UK portal. The news comes after a global four-year ban by Google's adword service. Online Casinos will now flood Google UK web space as they do battle for British customers. Financial reasons Google realizes that they stand to lose revenue by continuing to block online gambling commercials. Despite heavy pressure from the US to block online gambling ads, Google wants to be sure that it is in line with current local business practices. Online bingo is keen to get involved by promoting their game online. Advertising budgets are swelling as these new opportunities open up. Bingo companies are biting at the chance to promote their game on television and online portals. Google does not want to miss out as online paid advertising by casinos, bingo, bookmakers and the lottery are promising revenue streams. This industry leader is sure not one to miss a trick!
Often the first to rise in bull markets, gambling stocks have been hit hard by the recent stock market collapse. It takes a lot to discourage investors from betting on gambling stocks, but the recent credit crunch and stock market collapse have done just that. With capital reserves being soaked up by the hour, and a lack of short-term liquidity, investors have sold stock for cash, waiting until the international financial situation becomes more stable. As gambling companies feel the pinch themselves, their plans for expansion have been put on hold. Stocks in online as well as land-based gambling companies have plummeted to new lows as investors either switched into traditional blue chip stocks or into safer havens of cash or gold. Only time will tell when the markets will improve and the investors once again jump back into leisure and gambling stocks. What the future holds Recent falls in the stock prices of online gambling companies is also likely to affect those companies' credit ratings. This will have a knock-on effect where even AAA companies are finding it difficult raising cash for development projects. Companies dropping below the magic AAA level are likely to have even greater difficulty raising cash. With a global recession on the cards, things could get worse before they get better.
The stakes might be lower and the sex-appeal not on par with such games as poker, but online poker is definitely a power to reckon with. And so have CAP done. Online bingo was the topic of one of few panel sessions held at CAP Euro Barcelona. Ian Turnbull, Raj Ramananda and Simon Collins gathered for the discussion, chaired by Michael Casselli, which proved to be informative and entertaining, making room for some questions, answers and even challenges. Topics discussed include the bingo player's profile (female, chatty); marketing CPA costs; profit margins; and more.
Poker players are quite familiar with the World Poker Tour, but how many would be interested in buying the stock of its holding company? From highs of $24 per share before the release of the Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006, shareholders in World Poker Tour Enterprises (WPTE) have seen their stock sink to under $1 in value. Should the stockholders cut their losses, or is now the time to expect a recovery? TV to the rescue At the end of 2007, WPTE launched an upgraded version of their poker site, which was well received at the time. The company's earlier software platform had caused a series of technical problems and had to be replaced. However, a significant proportion of the company's revenue is generated from US TV licensing for shows including the World Poker Tour and the Pro Poker Tour. WPTE are banking on these TV deals to support their revamped poker website, which is where future potential profit growth is being anticipated. The current WPTE stock doldrums are largely attributed to the post-UIGEA aftermath, although powerful voices in Congress are attempting to overturn the legislation. US chairman of the Senate finance committee Barney Frank is currently pushing to repeal what he called one of the "stupidest laws" ever passed. Further encouragement for WPTE shareholders came when New York senator Al D'Amato was appointed to the chair of the Poker Players Alliance. This group represents 0ver 100,000 American poker players and is currently pushing for regulation and control of online poker in the US rather than the effective ban that the UIGEA legislation left in its wake.
Million Dollar Poker Club has made some waves in the online gambling industry recently. Weekly million dollar jackpots, 100% Rakeback, and there is more too. We met MDPC's CEO Mike McGrath who is certainly not shy about his business model and strategy. Such statements as: "Rakeback is taking us from the department store to the Wal Mart" express McGrath's unconventional style, whereas many in the industry believe Rakeback, in general and in these particular times, is a mistake. But we'll leave you with the interview to watch and make up your mind.
US president-elect Barack Obama joins a growing list of poker players who have made it to the White House. Perhaps the best known for his prowess as a poker player was Warren Harding (Republican, 1921-3), who reportedly played poker twice a week, and once gambled away an entire set of china from the White House. The advisors who played poker with the president were given the nickname the "Poker Cabinet." Harry Truman (Democrat, 1945-53) also liked poker, although according to some of his playing buddies he wasn't very good at the game. Dwight Eisenhower (Republican, 1953-61) used his knowledge of mathematics to his benefit, winning enough money from twice-weekly poker games to buy his first uniform after graduating from the United States Military Academy at West Point in 1915 and to buy gifts for his wife Mannie. Richard Nixon (Republican, 1969-74) funded his first congressional campaign with his World War II poker winnings, which amounted to $600 won in a two month period. Defeated Republican candidate John McCain prefers the casino game of craps. Perhaps poker players really do have better odds of winning presidential elections?
Ohio voters have again rejected a referendum that would have bought a casino to the mid-western state. Issue 6 , which would have amended the state's constitution to allow a $600 million casino resort to be built in southwestern Ohio, was defeated easily - the fourth time in 18 years that Ohio voters have turned down a gambling bid. Initial polls suggested Issue 6 would be approved, but support for the amendment gradually decreased after a $27 million advertising campaign attacking the measure, and a public battle between two large casino developers: Minnesota company Lakes Entertainment Inc., which would have had an 80 percent stake in the new casino, and Pennsylvania company Penn National Gaming Inc., which runs the Argosy Casino in Indiana, right near the Ohio border. The campaign against Issue 6 focused on concerns that a spate of Indian casinos could be built if it passed, pointing out that the amendment authorizes for the new casino to provide more than just the bingo and lottery-style games already permitted. There was also concern that a loophole in the measure might allow the casino to avoid being taxed in the case of an Indian casino coming to Ohio. Critics are predicting more gambling proposals in the future, with Senator George Voinovich (R - Ohio) saying there will be stiff resistance once again in the future.
This week's online gambling news headlines brought to you by OCR Live! Bodog investigation The US authorities have been looking into Bodog Casino for quite some time. Two accusations of money laundering are now tied to the gambling empire. Watch the video for Bodog's comment. Kentucky Case challenge Seizing 141 online gambling Web site domain names was only the first chapter in what we now refer to as the Kentucky Case. A state Court of Appeals hearing is around the corner and will be the enxt major step in the saga. New King Kong slot game Have you noticed Kate in King Kong's arms? Worry not, it is only a game. A new game as a matter of fact, one of 7 to come this week from CryptoLogic. More new game releases, attractive promotions and gaming innovations appear on our site.
Americans, get out your check books. You can now gamble again on line. However, there are no cards or roulette wheels involved, just stocks, shares, and pork bellies. Thousands of Americans gamble online every day. However, they're not playing Texas holdem or blackjack, but they are gambling nonetheless, and the stakes are high. Ask anyone with a stock portfolio whether they're gambling, and the standard answer is likely to be in the negative. They'll claim they're investing, or putting money away for a rainy day. The truth is, they're gambling with their money and there are currently no curbs in place to control their activities. The economic news of recent have only made this clearer. How it works Many Americans go online every day and make their choices of stocks and shares to buy and sell. Some they hold, some they drop, but whether this is any different from picking a number on the roulette table is open to debate. Online stock trading has exploded in popularity over the past decade, and it's now easier than ever to set up a trading account with any of the dozens of online trading operations. One of the biggest is E-Trade, which doesn't call itself a casino, but an "online financial services company." Anyone can place their hard-earned cash into one of their trading accounts and start playing the stock, commodity, and other financial markets. Virtual trading It's not just stocks that can be traded on line, but just about everything. You can buy and sell currencies, precious metals, oil products, bonds, futures, and options. There seems to be no limit to the choice of things to trade, and no restrictions on what to buy or sell either. Many family and religious groups are lobbying Congress to place curbs on this free market activity, but it's unlikely to succeed. There are probably just too many senators sitting on Capitol Hill (or should that be Capital Hill?) who probably have their own online trading accounts. So, if you're an American and your Congress won't let you play poker on line, then why not open a trading account and start trading pork bellies. It's legal!
Bookmakers are predicting a successful first term for president-elect Barack Obama, indicated by the 4/5 odds being offered by UK bookmaker Ladbrokes for him to repeat what the two presidents before him - George W. Bush and Bill Clinton - have done, and successfully run for re-election. Defeated Republican vice-presidential candidate, Alaska Governor Sarah Palin, is considered the early challenger at 16/1, while Obama's VP, Joe Biden, is 20/1. Hillary Clinton is 25/1, while defeated John McCain, on account of his age (he is already 72) is a long-shot at 50/1. There are 6/1 odds on a female being chosen for the first time in 2012, although Clinton and Palin are the only two females on the list of 20 possibilities in the betting. In the two-party race the Democrats are 8/11, against the Republicans at 11/10. The chance of an independent winning is currently 20/1. Betting is also available on nominees from both parties, with naturally a far longer list on the side of the challenging Republicans, and Biden and Clinton being offered odds of 8/1 and 12/1 respectively to win the Democratic nomination if for some reason Obama does not run for re-election.
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