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UltimateBet Cheating Firm Iovation Awarded Nevaga Gambling License

Saturday February 20,2016 :  IOVATION AWARDED A NEVADA CLASS 2 LICENCE (Update)
 
Controversial firm now able to offer cyber security, anti-fraud measures, and geolocation services to the Nevada online gaming market.
 
Despite controversy over the involvement of its CEO, Greg Pierson and the company itself in the UltimateBet cheating scandal several years ago  Iovation has been awarded a Class 2 licence by the Nevada Gaming Commission on the recommendation of the Nevada Gaming Control Board.
 
The reportedly unanimous approval of a licence enables Iovation to offer cyber security, anti-fraud measures, and geolocation services to the Nevada online gaming market despite its controversial history.
 
Online media learning about the Iovation application last week were quick to reprise the 2008 online poker scandal, recalling that Iovation created software that had a capability (rather sensationally titled "God Mode" in subsequent reportage) that allowed individuals within UltimateBet to cheat online players out of $20 million dollars.
 
Pierson, at the time a co-founder and the CEO of UltimateBet, allegedly featured in a post-scandal taped discussion with UltimateBet shareholder Russ Hamilton - the man accused by regulators in a subsequent investigation of being the main beneficiary of the cheating - and other managers in which tactics to pay prejudiced players as little as possible were discussed, along with what amounted to admissions that the cheating had gone on for longer than the period uncovered by a player investigation, and involved more dishonest accounts than had been exposed.
 
The discussion also allegedly covered the possibility of pinning the cheating conduct on a junior rogue employee in order to hide Hamilton's involvement.
 
A Nevada Gaming Control Board official had been apprised of these events late last year during the course of his enquiries, it has been claimed.
 
The online information site Gambling Compliance secured an interview with an elated Pierson after the award of the licence, and was assured by him that Iovation spent a substantial amount of money on a previously failed and the currently successful licensing attempt, and that it had involved a very deep and comprehensive, year-long Nevada investigation into the company and its management.
 
The Nevada Gaming Commission has not yet published its report on the award of the licence, but Pierson apparently sees it as a vindication that he did nothing wrong. He commented to Gambling Compliance:
 
“My company wrote some software and that software was used to rob players. I wish that had not happened. I have had to talk about this nightmare so often that I have become kind of numb to it but hopefully it is now over,” he said.
 
The interview points out that there is no solid evidence implicating Pierson in the actual UltimateBet cheating activity, but less charitable opinions are that the Iovation chief executive, supposedly an internet and software security expert, presided over a situation in which his company created a cheating product that was used to prejudice players on a site which he managed.
 
Gambling Compliance has promised to publish the full Pierson interview next week, which will be read with interest by many players and industry observers.

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Gambling News :

Netent Enters Mexico With Deal With Codere - The statement advises that the agreement enables the Swedish company to provide its portfolio offerings to Codere through that company’s existing operator license.

Winamax Poker Launches Dealers Choice Games - The Dealer's Choice in poker format is not a new concept, but Winamax enlivened the French online poker scene by introducing it last week, taking advantage of looser game restrictions by the French regulator ARJEL.

2016 Unibet Poker Open Bucharest main event Results - Romanian poker ace Traian Bostan banked Euro 100,000 this weekend after winning the Euro 1,100 buy-in Unibet Poker Open Bucharest main event hosted by the JW Marriott Bucharest Grand Hotel.

Limited Gambling To Be Allowed in Bermuda - After two years of discussion senators in the self-governing British overseas territory of Bermuda finally approved the Casino Gaming Amendment Act 2016 last week, ushering in a potentially more liberal and practical approach to gambling in the Caribbean island nation.

Crown Resorts Employees Should Confess - Youxi suggested that Crown should hire good lawyers to defend its employees, something Crown's existing Chinese legal representatives may regard as offensive.

Jack Lam on the Run - "Our records also showed Lam arrived in Manila last Nov. 25 aboard a China Airlines flight from Taipei,” she said, observing that there was no record of any return to the Philippines since his departure.

Golden Jungle Slot - IGT is about to launch online its popular land casino slot Golden Jungle, adding yet another jungle-and-temple themed game to the dozens already available to internet and mobile punters.

Philippines president Orders Arrest of Jack Lam casino magnate - Rodrigo Duterte, the shoot-from-the-hip Philippines president, has intervened in the fast-moving bribery scandal involving his Justice Secretary Vitaliano Aguirre, Pagcor chief Andrea Domingo and Macau-based casino magnate Jack Lam

South Africa Going After Illegal Gambling - In South Africa a combined national police and federal enforcement initiative has shuttered 19 illegal gambling venues across the provinces of Northern Cape and North West.

The Winning Express arbitrage sports betting scheme - A UK-based GBP 27 million arbitrage sports betting scheme, The Winning Express, has collapsed, leaving a thousand investors with concerns that their money is lost, according to a BBC report over the weekend.

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