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Australian racing Incentive to keep High Betting Players

Saturday August 16,2014 :  AUSSIE RACING TO GIVE LOCAL BOOKIES INCENTIVES
 
Bid to keep the money in Australia.
 
Australian racing has launched an incentive scheme designed to encourage local bookmakers to accept more bets from high rolling punters in order to entice them away from illegal offshore internet operators.
 
The Racing Post reports that the initiative is spearheaded by Racing Victoria, which is offering bookies an opportunity to reclaim one percent of turnover from approved high-volume, low-margin punters, whose turnover on racing in Victoria is around A$500,000 (GBP 279,000) a year but whose margin to bookmakers is less than four percent.
 
The plan is for the scheme to run for six months from July 1 as a trial to see if it will help keep funding levels up for racing in the state and prevent any issues surrounding integrity.
 
Andrew Catterall, Racing Victoria's chief commercial and strategy officer, said his organisation had worked with bookmakers to build a deeper understanding of the HVLM segment of the market which is the one most susceptible to moving betting activity offshore to unlicensed and illegal operators.
 
"Currently there is no legislation enforced to prevent Australian punters moving their betting activity to unlicensed offshore operators who have a cost advantage relative to approved domestic WSPs, one which can be used to target HVLM clients," he said.
 
"Unlicensed offshore operators make no economic contribution to the sustainability of the Victorian thoroughbred racing industry. These operators also avoid paying Australian state taxes and Goods and Services Tax.
 
"More importantly, such wagering operators do not have information sharing agreements with Racing Victoria and therefore betting activity being conducted with them is unable to be monitored. This is a heightened integrity concern for RV which needs to be addressed."
 
He added: "The expectation from the trial is that it will enable WSPs to grow this segment of the market and prevent customers betting offshore with unlicensed operators.
 
"The level of incentive and expected turnover performance should also produce a positive increase in net revenue to the Victorian thoroughbred racing industry."

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Gambling News :

Is Gibraltar Out of Luck in US Tax Challenge - Gibraltar's challenge to the UK 15 percent point-of-consumption tax on online gambling operator revenues has already failed in the UK High Court, and it looks as if it may be rejected by the European Court of Justice too.

Quickspin are now available in Denmark - #quickspin The roll-out strengthens the long-standing partnership between the supplier and the operator, with Quickspin games already available on Vera&John’s websites around the world.

UCypher Launches - Indian entertainment and media entrepreneur Ronnie Screwvala has announced the formation of UCypher, an eSports tournament in which ten teams will compete.

Extreme Live Gaming In deal With Betsson - Extreme Live Gaming, a subsidiary of the Novomatic Interactive group, has announced a live dealer product deal with the Betsson online gambling group, with an initial launch planned for Betsson.com, followed by other brands in the Swedish group's portfolio.

Expansion Mode For BoyleSports - The Bambury premises are situated in Kildare, Meath and Dublin and will be refurbished and rebranded after acquisition, with the total of 31 staff remaining in employment..

Safecharge Q4-2016 - Online e-cash processing firm Safecharge, where Playtech's Teddy Sagi is a majority shareholder, released a trading update on its Q4-2016 performance Thursday, flagging record transaction processing volumes and revenues.

ASA Most Controversial Ads of 2016 - Paddy Power's penchant for advertisements that cause a stir saw the betting company mentioned twice in the Top Ten most controversial adverts of 2016 released by the Advertising Standards Authority in the UK Thursday.

Yggdrasi To Enter Italian Gambling Market - Yggdrasil’s Italian offering will include the company's collection of in-game promotional tools, BOOST, improving gamification, and the social sharing tool, BRAG. The company’s mobile product will also be available on its HTML5 iSense 2 platform.

888sport is the latest to join sports betting integrity body ESSA - Major operator 888sport is the latest to join sports betting integrity body ESSA with the company adding its customer base and betting market platforms to ESSA’s global anti-fraud alert and reporting system.

First partypoker live event to be held in Russia - Partypoker’s new live tour will kick off in Russia on March 24, 2017 at Sochi Casino and Resort in association with Club Poker Management. Online Day 1’s will start on partypoker on March 12, 2017.

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