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Supermerger Paddy Power-Betfair has reported robust growth for Q1. Core Growth The company reports that its four core brands have turned in 16% year-on-year growth, with figures that serve as a salient reminder of the appeal and profitability of iGaming industry in general, as well as the respective stakeholder value of merging. Massive Totals The reported total revenues for group revenue in the quarter ending March 31, 2016 turned in can only be described as staggering: £339 million (€429.2 million/$493.9 million), in an industry were operating costs are minimized in the online environment. The Breakdown While maintaining well-earning physical betting parlors, online revenue is responsible for the growth in the merger model currently offering games from Paddy Power, Betfair, Sportsbet and TVG. An online revenue jump of 17% year-on-year to £195 million was driven in large part by a 23% jump in sportsbook stakes, compared to smaller growth contribution from retail (5% to £67 million). Promising Global Contributions Two large economies of scale are also starting to contribute as well. Australian revenues jumped 25% year-on-year to £58 million. Meanwhile, the goldmine US market expanded 22% to £20 million, with the majority of that coming from New Jersey where Betfair was able to bring an established holding into the power merger. EBITDA Earnings before interest, tax, depreciation and amortisation jumped 27% to £59 million. Operating profit was up 36% to £43 million as well. Looking Forward Confidently As far as the next benchmark, Group CEO Breon Corcoran identified Euro 2016 as the organisational focus of marketing, technology and operations through the important spring racing period build-up: “The post-merger integration is on-track; a strong leadership team is in place and restructuring of the business has commenced.” Complementary Fit Key Corcoran praised the complementary skills and holdings of the two merger members, indicating the new company is “working to bring the best of each business to the combined group.” Those benefits are already being passed along to customers in new product features rolled out across all brands. Strong Industry While the regulation landscape moves gradually, the accelerated growth of individual operators and the success of recent high profile mergers such as Betfair and Paddy Power provide undeniable testimony to the sustainability, growth and overall profitability of the iGaming model and market.
Winning the lottery is one of the most common dreams shared by millions of people around the world. Few people ever get to realize this dream, except for a lucky Powerball ticket holder, whom purchased a ticket in New Jersey for the Saturday Night draw. The winner has yet to come forward, which is usually the case for mega-jackpots, and this being the ninth-highest lottery jackpot of all time, it is common not to claim the prize until after a few months. The winning numbers were selected just a little bit before 23:00 EDT and were 25, 66, 44, 5 and 26 with the Powerball number being 9. This was the biggest lottery jackpot won since January this year when three lucky ticket holders split the record breaking $1.6 billion at that time. This draw followed 17 consecutive Powerball draws without a winner and the jackpot grew by some $15 million on the day of the draw thanks to increased ticket sales. Powerball is played in 44 states, Puerto Rico, Washington DC and the US Virgin Islands. You Can Win Online The jackpot to this huge lottery game is always an awe-inspiring number, but many times, lottery players forget to buy tickets, or simply do not have time to get to a lottery ticket sales point to pick one up. One of the newest and most convenient ways to play the US Powerball, and dozens of other lottery games in the world is through an online lottery ticket agent like online platforms theLotter, LottoExpress or LottoBooking. These agents are an excellent way for players to never miss another draw, as they all have subscription services, in addition to one-time sales options. Using a desktop computer, and now also using the convenience of a mobile device, players can select the lottery game, choose their own numbers (or have the automatic number generator choose for them), pay instantly and reap the rewards. It's a great way to never miss another lottery game again.
Online gaming growth is rapidly bringing Italy´s ring-fence problem to a head. The End of Confusion? In a country where the regulation picture was muddled up through the last quarter, the government has released surprisingly encouraging figures: the €267m tallied by Italian licensed operators for the quarter ending March 31st represented a jump of 21% from the same period last year. Casino Verticals Top Casino verticals checked in with the leading total of €106m earned, for a 38% year-on-year improvement. This gain was a full 7% higher than the growth of casino verticals for all of 2015 (31%). Coming on Strong Online sports betting was not far off. Betting growth topped casinos, jumping 42% to €96m. These gains come on the heels of a fantastic January that saw online sportsbook revenue rise 97% to €36m. More Verticals Grow Bingo moved up 2.9% to €7.5m, virtual sports 8.2% to €2.6m and exchange wagering a whopping 40% to €875k. Adapting Regulation Nicely Though sizeable at 22%, a new flat tax provided a more reasonable alternative to the previous tax based on wagering turnover, enabling Italian providers to enhance their products sufficiently to compete with unlicensed international operators encroaching on Italian bandwith. Operator Benefits Though the Italian tax is still relatively high, any set figure facilitates operators generating stable budgets and reliable strategies for improving their products and drawing more customers. Ring-Fence Thorn The problem is the country still suffers from the decision to ring fence its poker market and cut off its poker players from competition (and rolling jackpots) with foreign global markets. Even while tournament revenue increased 6.6% to €22.4m, the dwindling competing player pool drove cash game poker revenue down at almost three times the rate of 18% to €20.7m. Outlook With all this growth, the government may soon have to capitulate and allow international poker play. The gaping revenue and growth disparity along with player turnoff is otherwise likely to accelerate in the opposite direction, an ever-increasing albatross capable of swallowing up the entire market by offsetting the tax gains the government has in other sectors worked so hard to harness effectively.
In France, the Senate has approved Gambling regulator ARJEL's three proposed amendments to laws governing the country's online gambling activity. Sharing Poker Proceeds The first of three amendments ARJEL has proposed to the country's incoming Digital Bill call for authorizing ARJEL to sign partnership agreements with countries in the European Union and European Economic Area establishing shared liquidity for online poker. The shared liquidity amendment would give ARJEL the authority licensed operators that to allow players from all EU or EEA member states to take part in the same games on designated and approved websites. The French Solution? ARJEL's first proposal represents the French solution to the ring-fencing controversy. Countries who prevent their poker players from participating in international table games and tournaments have experienced a mass exodus of players and operators from respective markets, leading to precipitous drops that severely dent overall online gambling revenues for ring fencing countries. At this point, there are only 9 online poker operators left operating in France. Tax System Integration The biggest challenge to effective implementation of inclusive circle games looks to be integrating the difference taxing systems of each country. French taxes for instance are gathered at various points within the games, such as on the deal and on the river. In contrast, Italy, Portugal, and Spain employ standardized tax calculations, based on the percentage of overall gaming revenue taken in. However, the French government shows no propensity towards updating or reforming its online gaming tax system in the foreseeable future. Approval Process The proposed changes in the Digital Bill still have yet to be fully approved. Following the French Senate’s vote, a similar proposal must presented for approval in vote from the Lower House and other French officials who are likely to approve the changes as well. The Digital Bill and proposed amendments are expected to become law before the end of 2016, which would out the first shared liquidity agreements between France and other jurisdictions into effect in early 2017. First Sharing Candidates The first liquidity candidates have previously expressed interest in the arrangement with France already. Spain and Portugal indicated to France their willingness before the most recent vote Other Proposals The other two amendments address availability of data and uniform mediation of all gambling-related disputes.
Steph Curry is still doubtful for Game 4 in the NBA Conference semifinals against the Portland Trailblazers. Having sprained his MCL, the NBA MVP has been sidelined since April 24 and it could take even more time than originally thought before the Warriors have him back. Golden State has proven to everyone that they can win games without Curry, but having arguably, the best shooter in the NBA on the court is a godsend that the Warriors need ASAP. The Trailblazers won Game 3, 120-108 at Moda Center in Portland on Saturday night after having one of the best second quarter runs of their postseason. Even the surge by Clay Thompson was not enough for the Warriors to hold onto the win. Thompson has been huge this series and has successfully helped to fill the hole left by Curry’s injury, but they have another tough challenge ahead of them with the Blazers at home again tonight. What to do with an injured MVP? Steve Kerr would love to have Steph back on the court, but fully understands that an early return could make his sprained knee a lot worse. The prospect of going 2-2 after tonight and having Curry back for Game 5 is much more appealing than perhaps losing him for the remainder of the playoffs. Curry has let everyone know the truth about how he feels and he will only go back when he is clear of injury. Odds on the NBA Playoffs With the star on the sidelines, punters take advantage of the odds that bet365 Sports has posted in favor of the Warriors. A bet on the underdogs (Blazers) at 2.75 could lead to a modest payout. The Warriors are outright favorites in the Money Line at 1.47 and bet365 has dozens of additional props bets to choose. Throughout the game, punters can also get interactive in-play betting lines, which is a great way to maximize profits.
As the $430 million US Powerball jackpot was won by a single New Jersey ticket on Saturday 7th May, the biggest lottery prize in the world again belongs to the Mega Millions, which is another American-based game. Despite the Mega Millions being aimed at US citizens, this and many other draws can now be played around the world via online lottery ticket agents the likes of LottoExpress, The Lotter and Lotto Booking. When the next Mega Millions draw is held at 11pm Eastern time on Tuesday 10th May, one lucky ticket could scoop a huge prize that's currently estimated to be worth $150 million. That equals a cash option of $98 million after taxes, or an annuity option can be chosen, where the whole sum is paid out over 29 years, with a 5% increase each time. Playing Mega Millions For $1, players get to pick a total of six numbers, with five drawn from one pool of 75, and the sixth from a separate pool of 15 numbers. While the jackpot is won by matching all six, secondary prizes include $1 million for picking the five main numbers and go all the way down to a $1 prize for getting just the sixth number correct. Buying Tickets Online By choosing to enter the Mega Millions draw online, people from all around the world can join in, with the same chance of winning as any local player. Tickets are purchased by local agents and scanned into the system, with winnings sent directly to the players, while major prizes can be collected in person. It's important to buy tickets on time, however, with the UK for example, being five hours ahead of Eastern time, equalling a cut off of 3am on Wednesday for this drawing.
Gambling giant William Hill has announced that they will be pulling out of the Canadian gambling market starting today, the 10th of May, 2016. While this may not be the first online casino to opt out of Canada, William Hill Casino was as sparse with their reasoning as the other big names that chose to leave the country. William Hill Casino made their decision public via a very succinct email sent to all their subscribers where they explained their decision and the repercussion it will have on the players. According to said email, the British operator declared that the withdrawal from the Canadian market was made for “regulatory reasons” that were out of the company’s control. The same mail also reassured players that despite the operator’s departure, they can still withdraw their balance at any point in time. William Hill Isn’t The Only Big Operator To Leave Canada William Hill isn’t the only major gambling operator to pull out of the Canadian gambling market with Ladbrokers, another big British operator leaving the market just two years ago without going into much detail about their decision. The sports betting operator Betfair is another big name that retired from the Canadian market in December 2015 without much notice. Paddy Power also limited its contact with the Canadian market in 2011 only offering B2B services to the provincial lottery service of British Columbia. Legislation Loopholes Allows For Some Wiggle Room For Foreign Operators The Canadian legislation is clear when it comes to gambling, allowing mostly provincial lottery corporations to operate legally. Most companies have so far worked within a loophole of the law that allows internationally licensed operators to be active in Canada as long as none of their servers are actually placed on Canadian territory. William Hill may have not yet finished all business in Canada as it recently contributed financially along with Sky Betting & Gaming in the acquisition of OpenBet by NYX Gaming Group.
It is down to a must win situation for the Washington Capitals, as they head into Game 6 of their best-of-seven series with the Pittsburgh Penguins. Now 3-2, the Pens have a chance to move a step closer to the Stanley Cup Finals, with arguably the biggest roadblock of the playoffs (Capitals) out of the way. The Capitals switched things around in Game 5 and it seemed to work. Putting all star Alex Ovechkin on a line without Nickolas Backstrom and the Russian forward put in a goal and had one assist. The star players have been fairly dormant in these playoffs so far, but after Saturday night, the Capitals feel like they can come back from being down 1-3 and reclaim the series in their favor. The Penguins shocked their critics by winning three games against the Capitals. Everyone thought this would be a blowout by Washington but that has not been the case. They now have home-ice advantage again and that could be the ticket to success. The Penguins need to see Sidney Crosby donating more to the team and get back to the NHL All Star that he was in previous years. They tried separating Crosby and right wing Patric Hornqvist in the last game, but that did not work as they thought it would. "You have to leave that behind you," Hornqvist related. "It's a new day tomorrow and a new game, a new opportunity. We have to take that one." NHL Online Wagering bet365 Sports is all over the NHL Playoffs and have some incredible odds for punters seeking to get in on the action. The Penguins are the Money Line favorites at 1.74, but the Capitals could very easily win tonight to force Game 7 at 2.15. Punters can get in on the Puck Line at +1.5 and 1.38 for the Caps and -1.5 for 3.15 for the Pens.
Last week, the Michigan Regulatory Reform Committee met to discuss the online gambling bill introduced a few weeks ago by State Senator Mike Kowall. Kowall’s bill, SB 889, and accompanying amendment SB 890, would legalize and regulate online poker and casino games in the state under the title of the Lawful Internet Gaming Act. Nine members of the Michigan Regulatory Reform Committee, including the chairperson, state senator Tory Rocca, listened to testimony from four different people in support of Kowall’s bill, including the president of the Poker Players Alliance (PPA), John Pappas. Michigan’s three land-based casinos, MotorCity Casino, MGM Grand Detroit Casino and Greektown Casino, did not come out in support of the bill, but neither did they come out against it. About the Bill SB 899 stipulates that online gambling operating licenses will be restricted to tribal casinos and Michigan commercial casinos that already have licenses. A maximum of eight licenses will be granted, and each license will cost $5 million to obtain. After that, operators will need to pay a 10% gross gaming revenue tax to the state. In addition to the technical aspects of the bill, SB 899 also notes the importance of regulating online gambling as a form of consumer protection. John Pappas also stressed this in his testimony - because online gambling is something that Michigan residents are doing anyway, it is important for the state to provide a safe and secure forum for them to do so, as opposed to the legal offshore sites that leave players open to fraud and theft. Future of the Bill The hearing held last week did not result in a vote, and the state legislature adjourns for the summer on June 16. This means that a decision will need to be made soon, or else it will be put off until the next session. If the bill is approved, Michigan will become the fourth state in the United States to legalize online gambling.
The Brazilian Gaming Congress will return for the first time since 2013, lasting from 11-12 May 2016 at the Windsor Palace Hotel in Brasilia. Arranged by Clarion Events, the congress is close to being a sell-out, with attendees set to engage in discussions on the potential of a Brazilian online gambling market. Congress Attendees At this stage, Brazil is yet to legalise online gambling, but attendees are eager to hear from the country’s Chamber of Deputies. Crucially, members of the special committee will be at the congress after forming in 2015 to discuss options for regulatory models ahead of a possible legalisation. Elsewhere on the schedule, attendee will get to hear from representatives from a broad range of organisations and businesses. These include Caesars Entertainment Corporation, the Brazilian Texas Hold’em Confederation, the Ministry of Sports, the International Center for Gaming Regulation, the Brazilian Game Institute, among others. Event Sponsors In arranging the event, the organiser has sought out a number of familiar sponsors from within the global online gambling industry. From the gaming sphere, Play’n GO and Scientific Games are two recognisable names. Meanwhile, software providers with a more infrastructure-driven approach will also sponsor the event. BetConstruct, BMM Testlabs, CBG, and Crane Payment Innovations are just a few of the companies that will have a presence. Back After Three Years The last Brazilian Gaming Congress was hosted three years ago, in 2013, and organiser Clarion Events will once against work with national stakeholders in the form of SEAE, CAIXA, and various state lotteries. In terms of pedigree, the organiser is known for arranging and operating similar events in other parts of the world. Each year, igaming professionals attend major events like ICE, EIG, GiGse, and WrB. Ahead of the event, congress director Rory Credland explained that the timing of the event is to coincide with the potential awakening of an online gambling market in Brazil.
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