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AUSSIE CLAMPDOWN ON INTERNET GAMBLING

Sunday  November 13, 2011 :  AUSSIE CLAMPDOWN ON INTERNET GAMBLING FINANCIAL TRANSACTIONS 'UNWORKABLE'
 
Banker's Association warns gambling reform committee
 
The Australian Banker's Association has joined the many Australian experts and trade associations making submissions to the federal government review on gambling reform, opining that any attempt to use the national payments system to clamp down on internet gambling would be unworkable.
 
The banks and credit card giant Visa say they are worried that trying to block financial transactions made to internet gambling websites could also interfere with online shopping, reported the Sydney Morning Herald over the weekend.
 
The chief executive of the Australian Bankers' Association, Steven Munchenberg, warned the joint select committee on gambling reform that trying to restrict financial transactions was ''not straightforward''.
 
The parliamentary committee is investigating the impact of a measure introduced by independent Senator Nick Xenophon that seeks to restrict financial transactions on prohibited internet gambling sites.
 
''[If] Australia was identified as a jurisdiction where payment obligations may not be fulfilled in a certain and timely manner, it is possible that merchants and online service providers will refuse to accept business and payments from customers designated as originating from Australia,'' Munchenberg said.
 
''This would have a significant impact on the contestability of Australian businesses as well as the ability for Australian consumers to purchase online goods and services.''
 
Representatives from Visa additionally argued that blocking technology was unworkable.
 
The committee heard evidence that Australians can easily reach 92 percent of the estimated 2,443 online gambling sites available on the internet, even though the Interactive Gambling Act banned local internet gambling sites from accepting money from Australian residents.
 
Despite the restrictions, it is estimated that Australians spent more than $968 million last year on offshore online casino, poker and bingo sites.
 
The committee, which is headed by independent member of parliament Andrew Wilkie, is scheduled to release its report to the federal government at the end of November.
 
Professor Alex Blaszczynski, a member of the government's advisory council on gambling, told the committee in his written submission that the IGA was in need of reform and updating.
 
''Australians can easily access offshore internet gambling sites, and have little recourse if they lose their money or experience unscrupulous treatment,'' Professor Blaszczynski pointed out.

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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