No Deposit Bonus : SlotsLv casino currently is offering everyone a $22 no deposit bonus. New Players Only. Fully Cashable. USA and Canadian Players are welcome. Please see our SlotsLv review page for the no deposit bonus info. SlotsLv Review
Best USA Casino Bonus
Big Casino Bonus : All USA Players Welcome: Bovada Casino the #1 USA Online Casino offering all new signups a $3000 table game and slots bonus + weekly cash back. All new accounts qualify thru our link. No codes needed. For full bonus information please see our Bovada Bonus review.
Hong Kong Jockey Club Losing Business to Online Betting
Posted 2/16/11 : Over a third of wagers are going to the internet
The Bloomberg business news service reports that the Hong Kong Jockey Club, long used to a monopoly on gambling, is feeling the pressure of competition from what it describes as 'unauthorised Internet betting sites.'
Winfried Engelbrecht-Bresges, the 55-year-old German CEO of the Jockey Club, told Bloomberg: “Competition is just a mouse click away. Our competitiveness is at risk.”
The Club is the city’s sole provider of horse racing, football betting and lotteries is also its largest single taxpayer. Hong Kong accrued about 7 percent of tax revenue HK$12.8 billion ($1.64 billion) last year from the club, helping keep income tax rates in the former British colony among the lowest globally.
The operator is also the city’s biggest source of charitable donations, spending HK$1.52 billion in the year ended June on everything from hospices for single mothers to art archives.
About HK$105 million is bet on every race, says the club’s executive director for racing....more than 50 times the average at U.S. tracks in 2010. After prizes and winning bets are paid out, the Hong Kong government takes at least 72.5 percent of what’s left in taxes.
The Club claims that all this is threatened by a rise in unauthorised Internet betting sites, which avoid paying gambling taxes or royalties to the track, enabling them to offer more attractive odds.
“Online gaming has eroded racing’s capacity to ensure it achieves a fair return from all the wagering that takes place,” said Andrew Harding, who heads the secretariat of the Sydney- based Asian Racing Federation.
Some tracks are trying to fight the problem of “free riding” by online bookmakers by linking with race courses in other countries to take bets on each other’s races. The system, called commingling, broadens the pool of gamblers the race operators can access, allowing them to offer better odds.
Hong Kong’s tax regime makes such deals prohibitive because the city doesn’t make allowances for double taxation. The Jockey Club’s overseas revenue could be taxed twice - in the country where the bet was made and in Hong Kong - removing any profit.
The city’s government said in an e-mailed response to Bloomberg that it is “willing to review the taxation structure for inbound commingling.”
According to the Bloomberg report, it is estimated that annual revenue for illegal bookmakers from Hong Kong horse races is between one-third and 100 percent of the Jockey Club’s receipts. That means the government lost at least HK$2.6 billion in revenue, based on the HK$7.9 billion in racing taxes the club paid in the year ended March 2010.
Hong Kong’s gross racing revenue grew 3.6 percent to $1.5 billion in the year ended June 2010. By comparison, it is estimated that Internet gambling last year grew 10.4 percent to $11.9 billion, according to GBGC gambling consultants.
The Jockey Club has not completely shunned internet betting - it already gets 30 percent of its earnings from online soccer betting and would like to expand into other sports with government permission, executives say.
Meanwhile, internet companies like Betfair are not afraid to compete if there is a level playing field.
“It’s more and more difficult for Hong Kong to maintain its monopoly and have a thriving business when there are so many competing alternatives out there, both illegal and legal,” said Stephen Burn, Betfair’s Global Racing Director.
“There is a tidal wave of people who want to use the new technology.” Burn emphasised that Betfair doesn’t take bets on Hong Kong horse races.
Oink Country Love Slot Launches -
Oink Country Love will have players tapping their feet to the country beat with the lovable Oink Bros, Willy and Chancho, who are trying to win over the heart of Miss Southern Charm in this five by three reel, 45-line online slot.
Tim Chung Wins MPNPT Manchester -
The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.
MPNPT Manchester Day 2 -
Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.
Day 1B MPN Poker Tour Manchester -
Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.
Day 1A MPNPT Manchester -
The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days
Kung Fu Rooster Slot Goes Live -
Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.
Sensational Sixes Slot Goes Live -
Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!
3 New Betsoft Slots -
3 new Betsoft slot Games were also added this week to most online casinos allowing US players.
2017 Bodog Super Millions Poker Open -
The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.
Please Note : Gambing might not be legal in your area. We bring you www.recentpoker.com as an information and gambling news site only. We hope that you find all the information and gambling news found in www.recentpoker.com to your liking. Please tell your friends about us and visit us again soon.